The hook? What is it and why it's important.

A hook is a single phrase or sentence that describes an offer’s primary benefit

Sometimes the hook is a title, and sometimes it’s a short tagline

Regardless, it conveys the reason someone would want what you’re selling

A thread.. A classic example of a Hook is the title of Timothy Ferris’s book,

The 4-Hour Workweek

The title implies some intriguing benefits:

1) four hours is a lot less than most people work, and most people would like to work less

What is a trade-off in business?

A tradeoff is made in the development of new offerings and what give each option its unique identity

Example in apparel: Old Navy, Banana Republic, and Gap are owned by the same company, Gap Inc

Lets discuss. A thread... All three lines make the same types of clothing—shirts, pants, etc but offer different Trade-offs

Instead of attempting to make a single clothing line that’s designed to appeal to everyone (which would be impossible, as everyone wants something different)

What is 5S?

Ever heard of this? It comes from the Toyota production system.

It's used in manufacturing facilities often but can apply to any store, home business, entrepreneur.

The affects are lasting on anyone that gets involved in it

A thread... The term 5S comes from five Japanese words:

Seiri
Seiton
Seiso
Seiketsu
Shitsuke
In English, these words are often translated to:

Sort
Set in Order
Shine
Standardize
Sustain

Each S represents 1 part of a 5 step process that can improve a business

Ever heard of amplification? 🧐

Amplification: making a small change to a scalable system produces a huge result

The effect of any improvement or optimization is amplified by the size of the system

Larger system = larger result

An example below 👇

A thread… When a large fast food chain comes up with a new sandwich, they’re not limited to just selling it in one of their stores

They can start selling it in all of their stores around the world

Do you know your profit margins?

More importantly, are you calculating margin correctly?

Profit margin or margin is the difference between how much revenue you capture and how much you spend to capture it.

Margin is usually expressed in percentage terms.

A thread Here’s the formula for Profit Margin:

((Revenue – Cost) / Revenue) × 100= % Profit Margin

If you spend $1 to get $2, that’s a 50% margin.

A $100 item sells for $150, that’s a profit of $50 and a margin of 33%.

Lets talk finance. In the simplest way possible.

When you think finance do you think; mathematical formulas, and spreadsheets overflowing with numbers.

It doesn’t have to be that way

Finance is quite easy to understand if you focus on what’s most important.

A thread.. Finance is watching the money flowing into and out of a business

After that, deciding how to allocate it and determining whether or not what you’re doing is producing the results you want.

Lets talk about multiplication.

Everyone knows how to do that right?

Yeah I learned it in school, but how does it apply to my business?

Multiplication is what separates small businesses from huge businesses.

But how so?

A thread... There’s an upper limit on what any single business system can produce.

By creating identical business systems based on a model that works.

Multiplication can expand a business’s ability to deliver value to more customers.

Would you agree?

Lets keep going...

In every negotiation, there are Three Universal Currencies:

Resources, time, and flexibility.

Any one of these currencies can be traded for more or less of the others.

A thread... 1. Resources

Resources are tangible items like money, gold, oil, etc.

Resources are physical: you can hold them in your hand.

Does your current setup have a process? Whether you are affiliating, flipping, running a business. You need a simple end to end process.

Have you heard of a value stream? 👇 Value Stream is the set of all steps and all processes from the start of your process all the way through the delivery of the end result to your customer.

The best way to understand your Value Stream is to diagram it. It can be painful but extremely rewarding

Looking for a way to jumpstart your sales for this month or quarter?

Ever tried a reactivation campaign?

They are consistently one of the easiest and most profitable marketing activities you’ll ever try.

A thread... Reactivation is convincing past customers to by from you again. Think Netflix, if you cancel a subscription. What happens?

You'll receive an email with an offer to resubscribe at a reduced rate. If you don't , they will continue email you until you subscribe or ask to be removed

Lets talk about negotiation and the way to break it down..

Whether you own a business, want to own one, flip products or have kids. 😀 Someone is always negotiating something.

The 3 Dimensions of Negotiation are setup, structure, and discussion.

A thread.. Setup:

Setting the stage for a satisfying outcome to the negotiation.

The more you can stack the odds in your favor before you start negotiating, the better the deal you’ll be able to strike:

Who is involved in the negotiation, and are they open to dealing with you?

A leadership story

I'm standing on top of a check out lane working for a major retailer as I was about to open the doors for a black Friday.

It was 3:45am and I have 100+ people ready for chaos. We all worked multiple weekends/nights in a row to prepare for this

A thread I'm 23 years old and haven't been in a situation like this where that many eyes are on me and looking to me for guidance, direction, motivation and leadership.

What did I say to those people? How did I show them they were the ones who did all this?

Meanwhile outside the store

A good Sunday story, something to think about...

Back in the 90's Emmitt Smith reached out to Michael Jordan to learn about business from him. Mike said no problem and set a meeting place.

A thread. After they met, Emmitt asked, "How come we don't have meetings like this more often to learn and do business together?"

Michael - "What did you have to do to get this meeting?"

Emmitt - "I had to call you to ask you for the information."

cont.