Dean Graziosi Archives - Jeff Walker

The One Most Important Thing…

by on Nov 08 2010
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At my recent PLF Live Event I had someone come up to me and ask me what the ONE THING was… the one thing that has meant all the difference for me and my success – the one thing he should focus on as his business grows.

And that’s a really tough question!

When people ask me how they should get started… well, that’s easy. I always tell them to start building a list. And the second thing is to only focus on selling stuff that you know the people on that list really want. If you stick to those two things, it’s hard to go wrong with your online business.

But what’s the one most important thing to focus on in your business? The one thing that makes all the difference?

Well, my answer was “opportunity cost”…

Wikipedia says that opportunity cost is “the cost related to the next-best choice available to someone who has picked among several mutually exclusive choices.”

That’s sorta hard to understand… I just think of it as “what you have to give up when you choose between two or more different choices.”

And that cost is NOT restricted to financial cost. For an entrepreneur, the biggest opportunity cost is often time.

When you first start out, you will likely have limited capital. And since you’ll be doing most everything yourself, you’ll definitely have limited time.

So picking the right opportunity is HUGELY important. Making the wrong choice can set you back weeks, months or even years.

That’s what opportunity cost is all about… you have to realize that chasing an opportunity has a greater cost than any financial expense it requires.

I don’t want to scare you into inaction… because taking no action has a HUGE opportunity cost. I just want you to realize that when you decide to go down one road, there are several other roads that you won’t be able to go down… or at least they will be greatly delayed.

Of course, once you start to have success, then the issue of opportunity cost becomes even greater.

This is the deal… the more successful you become, the more “opportunities” you will have. This is what we call “deal flow”… you start to have success, you build up a series of assets, you prove your worth… and all of a sudden everyone wants to do a deal with you.

And deal flow is a GOOD thing. That’s how the rich get richer. That’s one of the reasons why it’s easier to go from $100,000 to a $1,000,000 than it is to go from zero to $1,000.

But as you get into the deal flow, it’s easy to get distracted. You only have so much time, energy, attention, assets, etc… and every time you make a choice to pursue an opportunity, you are giving up something.

Usually, for entrepreneurs, that something is time.

I just heard Dean Graziosi use this analogy… he said it’s like he has a bookshelf that’s completely full. If he finds another beautiful book he wants to buy… well, he can. But that means he has to take one of the other books on his shelf and throw it away.

So remember… having choices in your business is great. But those choices have an opportunity cost.

Making the right decisions around that opportunity cost is one of the biggest factors in the success of your business.

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Paula Abdul and Product Launches…

by on Jun 10 2010
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Paula Abdul and Jeff WalkerSo a couple of days ago I flew into San Francisco – I was going there to give a talk at Brendon Burchard’s “Expert’s Academy” workshop.

When I stepped off the plane in San Francisco I had no freaking clue that within an hour I would be helping “blueprint” a product launch for Paula Abdul – a product launch that will likely kick off with appearances on all the biggest talk shows on network TV.

(That should make for a nice pre-prelaunch!)

What a crazy world… I start the day flying out of my one-gate airport in tiny Durango, CO and a few hours later I’m helping strategize the best way to use a series of appearances on the biggest TV network talk shows as part of a product launch.

This is the deal… it was one of those times when all the travel went smoothly. Got off the plane in San Francisco on time, found my driver right away… and made it to the hotel in no time.

I walked into the lobby and there was my old friend Frank Kern and new friend Dean Graziosi (Dean is on TV every day, and his company does $1 million in sales every WEEK – all driven by infomercials).

Turns out Dean is working with Paula Abdul on releasing a new product… and he was hoping to get some help from Frank and I with figuring out a product launch sequence. It was all a surprise to me, but it sounded cool – so we got right into it.

And that’s how I ended up sitting at a table with Paula Abdul, and Frank and Dean… doing some big picture strategic planning for this launch.

Now frankly, I don’t have any idea about the inner workings of all those TV talk shows (it sounds like there’s a lot of gamesmanship about which show you’re going to appear on when) but I’ve got a pretty good idea on how to drive a TON of traffic from an appearance on those shows (think of the most famous TV talk shows – yeah, you know the ones I’m talking about. Household names. Millions and millions of viewers.)

And trust me, Paula and her manager were VERY interested in our strategies. Paula told me that mainstream Hollywood is just starting to wake up to Internet Marketing… and that the agents and studios are both fascinated by it and scared to death of it.

(What’s really cool is that Paula’s launch is for a product that could make a serious – and very positive – impact on the hundreds of thousands of people in the U.S. and beyond. Within minutes of meeting Paula, it was obvious she’s got a HUGE heart and she’s on a mission to help a lot of people. And with Dean’s help, she’s been able to tap into our crazy world of Internet Marketing, and the whole product launch world.)

Which all goes back to my “Powered by Internet Marketing” blog post… as I mentioned, us Internet Marketers are going to continue to play a larger and larger role in “real world” big business. It’s going to happen gradually at first… but look out world, here we come.

- Jeff

P.S. I didn’t forget about that Flip video contest… we had soooo many amazing comments in the “Powered by Internet Marketing” post. In fact… it got me EVEN MORE fired up… and I’m going to be expanding on what Internet Marketing means to me… but for now I just want to announce a winner for the Flip.

So here we go… the winner is Mel with comment #83. Congratulations! You’ll be getting an email from Betty on my team to arrange for shipment.

P.P.S. A product launch for a major celebrity using mainstream TV… pretty cool, eh?

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