“Whatever the mind of man can believe and
conceive, it can achieve” ~ Napoleon Hill
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How to Double Your Business Profits
in 97 Days
with no money and no risk
By Robin J. Elliott
How to Double Your Business Profits in 97 Days
with no money and no risk
By Robin J Elliott
Copyright 2008 by Robin J. Elliott
Published by Robin J. Elliott
Suite 104, The Burlington,
2968 Burlington Drive,
Coquitlam, British Columbia,
Canada V3B 7N4
All rights reserved. No part of this book may be reproduced or transmitted in
any form or by any means, electronic or mechanical, including photocopying,
scanning and recording, or by any information storage and retrieval system,
without permission in writing by the author.
Printed in the United States of America
Book cover by Winston Bromley www.artbox.ca
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This Book is Presented to
In Grateful Recognition of
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This book is dedicated to my amazing Wife, Rika Elliott, who has stood
by me through thick and thin as we built our business over 21 years.
Solid as a rock, my raison d’etre.
My special thanks for their invaluable contribution to my business, (in
David Dubeau, Enver Omar, Jay Abraham, Justine Robson, Linda and Lorna
Rasmussen, Marnus Roothman, Navtaj Chandhoke, Patrick Giesbrecht, Rika
Elliott, Shawn Christenson, Steve Friedland, and Winston Bromley.
Don’t contact me about spelling mistakes or grammar in this book. The
purpose here is increasing your profit; nothing else is important. This book
was cut down from 134 pages to 72 pages – it’s ALL MEAT.
The advice contained in this material might not be suitable for everyone.
Depending on your personal choices and commitment, you might not double
your profits in 97 days. The author designed the information to present his
opinion on the subject matter, based on his experience with thousands of
businesses over 21 years. The reader must carefully investigate all aspects of
any business decision before committing him - or herself. The author obtained
the information contained herein from his own personal experience, but he
neither implies nor intends any guarantee of accuracy in every application. The
author is not in the business of giving legal, accounting, investment, or any
type of professional service. Should the reader need such advice, he or she
must seek the services of a professional and do due diligence. The author
particularly disclaims any liability, loss, or risk taken by individuals who directly
or indirectly act on the information contained herein. The author believes the
advice presented herein is sound, but readers cannot hold him responsible for
either the actions they take or the result of those actions. Some of the
information in this book may become out of date.
TESTIMONIALS – Or, “Does this stuff really work? And will it work
in my business, for me?”
I saved over $125,000 on one year with Joint Ventures!
“Dear Robin, I would like to tell you of one circumstance whereby the
information you provided saved my family up front costs of $125,000,
provided us with an income of $50,000 per year, and a passive income from
the business of $30,000 per year. More importantly, the income from this
medical facility has allowed me to stop being on-call on nights and weekends,
and to spend more time with my family, other businesses, and our passion for
helping parents help their own children...
I am a Respiratory Specialist Physician and I was going to set up a medical
laboratory in my field. My wife attended one of your Joint Venture Bootcamps.
I read the material that very night and decided to make some big changes to my
In exchange for profit which I was going to share anyway, I negotiated that
since I had the intellectual capital, qualifications, and a track record of being
able to set up this facility, that other partners should put up the money, and
that I should be paid a consultation fee. In return, the patients of the partners
would have first access, and the partners would have equity share. They agreed
and this led to the current agreement and the results listed above.
The power of a different way of thinking, information, and action are
incredible. Thank you very much, Robin.” Kumar Ramlall, MD.
It changed the way I do business!
“Robin Elliott's teaching has changed the way I do business. I used to think
building a business was risky and expensive. Robin showed me how to build
my business using no money and no risk; just some time. Not only did I get to
meet some winners by going to his Bootcamp, Robin has continued to take an
interest in my success, often taking time to respond to my queries. By adding
just one of his strategies to my experience, IN MY EXISTING BUSINESS, I
make an additional $5000 per month. It's not completely work-free; I still put
in about 8 hours per month maintaining it. Not everything I have tried has
worked, and a couple have outright failed; but in spite of that, within 7 months
of attending his Bootcamp, I was financially free. I highly recommend anyone
looking to take the risk out of business and increase your profits attend this
next boot camp. I'll be there!” Patrick Giesbrecht, Abbotsford, BC.
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“Back in 2005 I personally paid $1000.00 and drove for over 10 hours to
attend this Joint Venture Bootcamp in Vancouver. This event sowed the idea
in my mind to start an ambitious JV plan of my own - to work directly with
Darren Weeks and create the Fast Track Inner Circle for his event attendees.
Now, with over 2,273 active members and over $70,000.00 in gross monthly
income, I can tell you that this is the most profitable JV I've ever done. I got
the idea from Robin J. Elliott, at this very Bootcamp.
So, you see, I know first hand how powerful JV's can be. And I also know
that there is no-one like Robin J. Elliott who as the experience and the
know-how and who is willing to teach it so well.
So don't wait, register now while it's on your mind. Due to the interactivity and
hands-on nature of these events, the seating is limited to a maximum number
of participants per event. The seats will fill up quickly.”
Sincerely, David R. Dubeau Publisher, Fast Track Inner Circle
Over $640,000 in One Year with Joint Ventures!
"Within this circle I have given liberally of my time where I could help and
have enjoyed great reward. Since handing over my $247 USD membership last
year to Robin I have seen $470,000 in cash coming to my company, $100,000
in new business flowing to another member company, and an additional
$80,000 in contracts issued by my company to members.
Joint venturing works. I’ve found that being interested in people rather then
trying to be interesting myself opens doors to business and opportunity that
otherwise wouldn’t be there.
I’ve had fun with Robin J. Elliott and made money – lot’s of it.
He has demonstrated time and time again the ability to make something out of
nothing – and that is the definition of Create!"
Tas Morfopoulos Sterling Water Systems - Vancouver, Canada
"A colleague whom I have come to know as a capable businessman - As
an innovative business development specialist and trainer, I am confident that
you will find your collaboration with him a productive undertaking."
Earl W. Yates, Country Director, U.S. Peace Corps, Southern Africa
To Whom It May Concern:
It is with pleasure that I provide this reference commendation of Mr. Robin J.
Elliott. I do this without any hesitation or equivocation. Mr. Robin Elliott is
honest, a man of integrity and an advisor “par excellence.” He is a superb man
of integrity and a most innovative entrepreneur. I have spoken with others
about Mr. Elliott and they share this assessment of Mr. Elliott.
If you wish to contact me for further information, please do so.
Dr. Sam Sussman, PhD,
Fellow Royal Academy of Medicine in Ireland
Assistant Professor of Psychiatry, The University of Western Ontario
World Association of Medical Editors (WAME)
President and CEO Physicians Canada
I have known Robin Elliott for 15 years. Robin made me aware of the potential
to turn an in-house, high-tech print shop that I had put together into a
national, structured business opportunity. Robin assisted me throughout the
development stage of the project with invaluable advice and inputs and, when
it was ready to launch, personally canvassed the buyers of the first two
PrintAffords. These two sales alone were worth in excess of $120 000 to me.
PrintAfford now boast 29 business owners established in 6 provinces of South
Africa. It would be hard to over estimate Robin’s share in my success, and
impossible to put a realistic monetary value on his input. Enough said that
PrintAfford has to date generated in excess of $2 million over the past 4 years.
If it was not for Robin J. Elliott's vision and encouragement, PrintAfford
would never have come into existence." Marnus Roothman Managing
Member PrintAfford SA
"In just one morning, Robin Elliott totally transformed my view of how
business should and could operate. He opened my eyes to how existing
business operations could be energized to create greater value for customers,
increase revenue and explore unseen opportunities that had existed all along.
He gave greater meaning to the mantra: Together We Can Do Amazing
Don Fitts, President Fitts Communications, Inc. Bellevue, WA (Ex Vice
President, Internal and External Communications, The Boeing Company.)
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November 28th, 2004
My husband and I opened up a new dental practice just over five years ago. He
had already been a dentists for ten years; however, due to a medical condition,
he had to sell his former practice and leave dentistry entirely for just over two
years. When we started "ProActive Dental Studio" in 1999, we had no patients.
We found a good, central location for our clinic, but were trying to find ways
In 2001, I joined the Surrey Chamber of Commerce where I met Robin J.
Elliott. I attended one of his marketing presentations, and was very impressed
by his content and delivery of the information. I signed up for a complimentary
consultation, and decided to hire Robin to help us with our image, service, and
advertising models. He gave us innumerable ideas to help lift the profile of our
dental studio, as well as very practical advice on how to keep patients happy.
He helped us implement a great referral program, and encouraged many points
of "positive contact" with our patients. He challenged us to become the
"premiere" dental facility in the region - a goal which I believe we have
Robin has great depth of experience and knowledge in a number of fields. He
knows what works and what doesn't. He knows where it is worthwhile to
spend money, and where it is not to.
Although the success of the dental studio is based on many factors, I believe
that Robin was the stimulus to get us all going. In five short years,. we are one
of the top performing practices in the Lower Mainland.
I would have no hesitation in recommending Robin to others in the dental
profession. He is a man of utmost integrity, and delivers everything he
Cheri L. Guze, BA, MBA
Manager - Proactive Dental Studio.
“Never take advice from anyone who doesn’t already have what you
want” – Jim Stoval
Who Is This Book For? Page 15
Why This Book? Page 15
Prepare for Success Page 16
The Purpose of Business (profit) Page 18
The Problems of Business Page 20
The Perspective of Business (ego, focus, territorial) Page 21
The Joint Venture Mindset Page 22
Your Philosophy Page 23
The Bucket Analogy – Income and Outgo Page 24
The Big Picture Page 25
Your People Page 27
Your Profit Page 31
Your Partners Page 33
Your Problems Page 33
Your Potential Page 34
Your Time Page 35
Your Money Page 36
Your Risk Page 40
Your Database Page 42
Cash Flow and Residual Income Page 44
Getting More Customers Page 48
Getting More Distribution Page 54
Increasing Closing Ratios Page 54
Getting Them to Spend More Page 55
Getting Them to Refer More Business to You Page 56
Getting them to Buy more Frequently Page 57
Removing Barriers Page 57
Retaining Customers Longer Page 58
Affiliate Programs Page 58
Websites, Internet, Ezines Page 59
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Real Life Examples of How People Doubled Their Business Profits Using
These Systems Page 60
House Cleaning Business PAGE 60
Restaurant PAGE 60
Network Marketing PAGE 62
Auto Lube and Tire Business PAGE 62
Gift Basket Business PAGE 63
Dentist PAGE 64
Realtor (Real Estate Agent) PAGE 64
Me PAGE 64
Two Exiting Opportunities Page 65
Your Action Steps Page 67
Recommended Reading Page 70
Recommended Websites Page 71
About Robin J. Elliott Page 71
Support Information: Page 71
Contact Information Page 72
“Whatever you vividly imagine, ardently desire, sincerely believe, and
enthusiastically act upon, must inevitably come to pass” – Paul J. Meyer
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Who Is This Book For?
Anyone who has any kind of business, regardless of your
circumstances, industry, products, services, or profitability. Whether you are a
one-man-show-shoestring-start-up, or an established, fifteen-million-dollar-a-
year, brick and mortar business, anyone will benefit by applying these simple
principles that we have learned over 21 years. Whether you are in Network
Marketing, a coach, a consultant, a salesman for a large company, a landscape
gardener, a sales manager, a CEO, a dentist, or the owner of a restaurant or dry
cleaning business, you can benefit from this book.
As long as you want to make more money, and you’re motivated to
apply these principles, you’re the right reader. I am sincerely interested in your
success, because Zig Ziglar teaches that “You can get anything you want out of
life, if you’re prepared o help enough other people to get what they want.”
I know you’re probably very busy, so I won’t pad this book with
meaningless stuff and nonsense to bulk it up; I don’t have anyone to impress. I
want every page to be worth a lot of money to you. This is my tenth book, and I
have found that what works in my training sessions, talks, books and articles is
straight talk – to the point, lean and mean, bottom line-oriented, easy-to-
implement, no money, no risk, no brainer, practical, politically incorrect, real
world, proven tools that can start producing real money real fast.
Why This Book?
This is my tenth book, and, I like to think, the most useful, since
readers have access to a lot more material and support via DollarMakers than
ever before. My previous books were “How to Kill Elvis Presley” (overcoming
past, negative conditioning), “Muscle, Mind, and Motivation” (co-authored
with Lionel Kearns, the South African Body Building Champion), “The Sales
Wizard”, “Black Pride” (black role models and success stories to inspire South
Africa blacks, who generally had never been exposed to successful, positive
role models – South Africa only got television in 1976 and media was severely
controlled and censored), “The Marketing Wizard”, “How to Start Your Own
Business with No Money and No Risk”, (none of these book is available
anymore, so don’t ask) and then “Joint Adventures” and “Life is a Joint
Venture”, both available as free downloads from www.DollarMakers.com, the
former in five languages and downloaded over 18,000 times, “How to Retire in
One Year” available for sale on www.DollarMakers.com, and now this book.
The purpose of this particular book is to show you how to double
your net profit in 97 days, using proven systems, without cost or risk.
Depending on your input, work, understanding, level of motivation, open-
mindedness and teachability, you could accomplish a lot more in less time, or
you might not accomplish anything at all; it’s up to you. The average business
operates at about 10% of it’s potential profit. I once took a profit center in my
business from $4,000 per month to $20,000 per month in a mere four days.
Once, a home study course doubled my profit in one month. A three day
seminar once quadrupled my profit. A Joint Venture that I set up in 45 minutes
made me $27,000 net profit. This stuff WORKS.
Applying the information in this book can dramatically increase your
cash flow, and perhaps cause you to change your entire way of doing business,
maybe even start a brand new one, close down the one you have, or add new
ventures. It can also remove anxiety, pressure, problems, stress, and worry, and
make you a plenty of money. It is the culmination of a lot of learning over a
long time with many businesses in many different industries across North
America, the UK, and South Africa. I continue to learn, make mistakes, and
grow, and I have a long way to go yet, but you hold in your hands the solution
to most of your business issues, and a strong bridge to your goals and desires.
Read the Real Life Examples of How People Doubled Their Business
Profits Using These Systems later in this book
Prepare for Success
This book prepares you for serious success. It shows you how to look
at business from an objective, synergistic perspective. Builders all know that
the foundation of a building is very important if you want to build a tall
building that will last. Success occurs when preparation meets opportunity. We
never know what the future holds, and the better prepared we are, the better
we can take advantage of the situation and turn life’s lemons into lemonade.
Tim Larkin, says, “You never know how many people you’re fighting until
you’re fighting them all.”
Heavyweight Boxing Champion Joe Frazier said, “You can have
a life plan or a fight plan, but when the action starts, you’re down to your
reflexes – your training. If you’ve cheated on your training in the dark of
the morning, you’ll be found out under the bright lights.” You can only
wing it for so long. I see this in business all the time. People get up to
introduce me as the speaker or seminar leader all the time, and it’s amazing
how many of them haven’t prepared. As they wing it, they make the most
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atrocious mistakes. They get their numbers and facts confused, and it reflects
badly on me and the person introducing me.
Being well prepared allows you to get the edge on all those who try to
do things at the last minute, by the seat of their pants, show up late, forget
things, and don’t deliver on time, if at all. They over-promise, under-deliver,
and sabotage their own credibility and success. Worst of all, they deny
themselves future opportunities because they develop a reputation for being
unreliable, so they get the scraps.
Take the time to prepare well, to train more, to know more than your
competition, to be better conditioned, locked and loaded, mean and lean, fit,
focused, and fierce. Do your homework, show up early, and look the part.
Build on trust, integrity, and solid relationships. Build with solid material and
solid JV partners. The hype and flash lasts about as long as a bubble on a
muddy river. Build your house on a rock. J.B. Matthews said, “Unless a man
has trained himself for his chance, the chance will only make him look
I tell DollarMakers Club Members to prepare strong fishing nets and
learn to fish before venturing out. I see people in the middle of huge shoals of
hungry fish, and they’re falling around in the water trying to buy a fishing pole
and asking what bait to use, while the smart ones are pulling the fish out by the
bucket-load. Abe Lincoln said, “If I had six hours to chop down a tree, I’d
spend the first hour sharpening the axe.” Confidence and courage come
through preparation and practice. Success is by design, not by chance. Gary
Player said, “The harder I practice, the luckier I get.” Spend an extra hour
preparing and save months of wasted time. Professionals expect to succeed,
plan to succeed, prepare to succeed, then succeed.
The Purpose of Business
I stand in front of groups of business owners on a very regular basis. I
talk to them on conference calls, and they e mail and call me. I ask them,
“What is the purpose of your business?” Their responses are usually pretty
much the same:
To get more customers
To give great service
To help people
To make sales
To pay the bills
To make money
To get market share
To provide jobs
To be the best in our industry…
The real purpose of business is to make the maximum amount of after
tax, net profit, with the least amount of time, cost, risk, or effort.
This is why it is relatively simple to double your profit – not your sales,
your PROFIT, because, when you factor in all the costs and time, the average
business does not make a huge net profit. I will show you how we can build
your bottom line profit, using proven techniques and the Joint Venture
You are not a social worker, a rescuer, or a socialist – you’re an
entrepreneur, and your business is a money machine, an income source, a
DollarMaker. It is not an extension of your ego. It has nothing to do with your
ego. Your biggest enemy in business is self-importance, pride, and an
egotistical approach. By focusing on net profit, you can sublimate your mighty
ego and become objective enough to make some very profitable adjustments to
You are not in business to be popular. Three percent of people are
successful, and the 97% attack those more successful than they are in some
way, shape or form. It’s just the way things are. The tall trees catch the wind.
It’s the price of success. The more successful you are, the more the losers will
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attack you – get used to it. They smash the mirror and shoot the messenger.
Look at Wal-Mart, Microsoft, and other true successes, and see how they are
attacked by the socialists, collectivists, mystics, environmentalists, and
multiculturalists, the enemies of capitalism and free enterprise. I am a student
of Churchill’s life and philosophy, and he was attacked for most of his life, and
was very unpopular with his own government and even the Royal Family, even
when he was Prime Minister, yet that did not defeat him or get him off course.
You are not in business to be popular; you are in business to get rich, and you
do that by making a profit.
Oscar Wilde said, “Whenever you find yourself on the side of the
majority, it is time to pause and reflect.”
The Problems of Business
These are some of the problems that business owners experience that
can be overcome or severely diminished using the information in this book:
Hard to get and keep good / skilled / honest / capable people
Busy times and quiet times (feast or famine, chicken or feathers)
Diminishing profit margins
Lack of cash flow, money, credit, or other resources shortages
Increasing overheads and costs of sales
Higher customer attrition
Lack of customer loyalty
Lower transaction values
Currencies being devalued
All your eggs in one basket
Being “owned” or controlled by a few big clients on whom you depend
Events beyond your control, like weather, laws, town planning, trends, politics,
crime, changing demographics, and new technologies.
Can’t sell the business, but getting too old / tired to keep running it
Lots of money but not enough time
Plenty of time but not enough money
Changing laws and regulations
Changing industries and climate
Employee sabotage and theft, shoplifting
Age, illness, frailty, exhaustion, stress, pressure
Problems with partners, customers, vendors, employees, and local government
Your problem is not new or unique, and there is a solution for you.
The good news is that you can use Joint Ventures, leverage, and duplication to
overcome these common problems.
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The Perspective of Business
Most owners of small and medium-size businesses have bought into
the following myths:
You have to work hard for a long time to make money
You have to risk a lot
You have to spend money to make money
The bigger your risk and investment, the more secure you are
You have to focus on one product, service or industry
You have to jealously guard your territory and regard your competition like an
You must pay the lowest possible commissions and salaries to your employees
Dog eats dog
Cut costs and focus on new customers (to the exclusion of existing customers)
Buyers are liars
Customers come first (before employees and reason)
Maintain control at all costs
Don’t trust anyone
This may have been true in years gone by, but today the world is a
more sophisticated, connected place. The synergies and partnerships available
today in the connected global village make strategic alliances, Joint Ventures,
and partnering a very viable option. Work smart, share resources, use leverage
and duplication, and strive for value and win/win deals, and you will be light
years ahead of the dinosaurs around you. Your competition is your best friend.
You can get rich fast, with no cost, risk, or the sacrifice of your family, and you
can have fun in the process. You can be selective and you can choose with
whom you work.
Multiple streams of residual income at 100% margin is a reality.
Timothy Ferriss’ “The 4-Hour-Workweek” is a reality. I run my own business
with no employees, no overhead, minimal risk, and no inventory, and apart
from the Membership and training Bootcamps which I conduct around the
world, and which account for a mere 8% of my income, I can run my business
in sixty minutes per day from anywhere.
When I say, along with Don Fitts, “Together, we can do amazing
things”, I really mean it. Every resource you need is readily available to you
through Joint Ventures, whether it’s credit, reputation, time, money,
employees, skills, lists, or whatever else you need!
Doubling your sales won’t necessarily double your profits, as you
know. In fact, you might not have the capacity to double your sales
without capital investment or increasing your overhead, staffing, or
inventory, so we need to be analytical about the best way to increase
PROFIT. That’s where Joint Venture Income becomes very lucrative.
The Joint Venture Mindset
Dale Carnegie taught us to “speak in the interests of the other
person”. Business is about finding a need and filling it, connecting supply and
demand, creating value, solving problems, enriching the lives of others, and
getting paid for it. Bill Gates created value for billions of people through
Microsoft, so he got quite rich. Nobody cares about Mr. Gates; they care about
themselves and what he can do for them. If they like what he has to offer, they
will pay for it. It’s that simple. It’s not about what you want.
We make money by helping people live better lives, not by talking
about ourselves. Entrepreneurs who focus on creating value for others are on
the right track. Joint Venture Brokers are middlemen or catalysts, connectors.
They seek synergies and they are strategists. Like chess players, they look
ahead, plan carefully, find links, and remain objective. This approach advances
better choices, more profit, less ego and emotion, and better business all
A good concierge in a hotel makes more than the General Manager,
because he is like a JV Broker. He directs the guests to restaurants, shows, limo
services, clubs, hookers, and tours, and he gets a commission from all those
service providers, plus his salary, while the GM slaves away, carrying a large
burden and pleasing his superiors. I know, because I was a hotel manager for
seven years. At Hotel School I learned to work, but I didn’t learn how to make
money. I should have been tutored by a concierge instead. Who else makes
money in the hotel? The Executive Chef. He’ll never admit it, but he gets kick-
backs from every supplier, every week, plus his salary.
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We will now start to think about what others want, and we will start
to make real money. Nobody wants to hear about you, how smart you are, or
your resume. Resumes are for has-beens. You need to be an architect of the
future, not an archeologist, dealing with the past. People care about themselves
and their needs and wants.
Your mindset needs to be, “Who currently owns, controls, impresses,
communicates with, does business with, and is known and respected by
the kind of customers I want? What do I have to do to get that person to
actively, consistently, and enthusiastically recommend me to those
people? What will it take? What does that person want?”
Mark Da Cunha said, “Capitalism is a political system that if based
upon the wrong philosophical base, is like a towering skyscraper, built on a
foundation of quicksand. That is what philosophy has to do with capitalism.”
One’s philosophical premises shape and determine one’s perceptions, beliefs,
and choices. We are the result of our input and conditioning, and our
philosophy controls our future. The results you are currently experiencing in
your business are the product of your philosophy, your weltanschauung or world
view, and unless you change your philosophy, your circumstances won’t
This book is meant to help you change your business philosophy. We
don’t have money problems; we have THINKING problems.
The fastest way to change your income is to change your philosophy
and beliefs, so I recommend you immediately start reading the writings of
Objectivist Ayn Rand. Atlas Shrugged is a book I highly recommend. If you
have misconceptions about money, the right to earn it, or the nature of wealth,
or hang-ups about guilt, altruism, socialism, or entitlement, Atlas Shrugged
will help put everything into perspective for you. Get the book and start
reading it right away.
Also, your self-esteem can inhibit your success, and the quickest way
to improve your self-esteem is through self-discipline. So discipline yourself to
apply the lessons in the book diligently to your business. And remember that
you will earn within ten percent of the people you spend the most time with, so
make sure you’re hanging around with people who are richer, smarter, and
more ambitious and positive than you are.
“Money is the physical symbol of man’s successful use of his mind in
the area of production. It is a tool of exchange that allows men to trade goods
and services that they have produced in a market economy. Money is
important and money is good.” That is a philosophy that will empower you.
The Bucket Analogy – Income and Outgo
“There’s a hole in my bucket, dear Lisa, dear Lisa… Well fix it, dear Henry…”
See your business as a money machine, or a DollarMaker. It works to
create money. It can be represented by a bucket: The tap or faucet above the
bucket is the income, or money being earned. The bucket has holes in the
bottom, and these are the expenses. When the money bucket is not filling up,
there is more money flowing out than there is coming in. It’s called cash flow.
Our job is to create more income, and less outgo. That simple. By remaining
objective and level-headed, we can quickly stop those holes and get more
money coming in.
An investment is different from an expense. Any money that we invest
must bring us a greater return, and that goes for salaries, advertising and
marketing costs, and every other expenditure. We need to be accountable for
every expense. If we are careful to monitor everything in the business, we will
be on top of things and able to control what is going on. Like good debt and
bad debt, there are good expenditures and bad expenditures. Similarly, there
are people who produce and create value, and there are other people who are
parasites and leeches, and who are undermining your business. You need to
know which is which. A salary or wage requires a good return on investment.
We will strategically and methodically create many new faucets for
your business, so that your money bucket fills up and overflows. Sales are not
net profit. There are businesses with great sales that go bankrupt, because the
money coming in (sales) was less than the expenses and overhead. That is why
we focus on profit, represented by the rising water in your money bucket.
24 For Free JV podcasts, ebooks and more, visit http://www.DollarMakers.com/
The Big Picture
Take a good look at your business.
This morning, I was casually looking at a map of London while I had a
cup of tea. I love looking at maps. I realized, looking at the map, that recently,
I missed an opportunity. On one of my regular trips to England to present a
Joint Venture Bootcamp a few weeks back, I had a day off and decided to take
a walk along Oxford Street and down Regent Street for some exercise. What I
didn’t realize was that it was closer to walk to the British Museum which would
have been far better, yet I was too jet lagged to even look at the map.
Sometimes, we’re so “jetlagged” in our businesses, so tired and stressed and
busy, that we don’t take time to stand back and look at the map – the big
picture – so we miss out on some great opportunities. I won’t miss the
opportunity to visit the British Museum next time I’m in England!
If some of these questions don’t apply to your business, or if you can’t answer them all, that’s
fine. This is simply meant to make you think about your present situation.
Why did you start your business?
Why do you still run it?
Is it making money?
What is the income and expenditure?
Where does the money go?
What makes the most money?
Who makes the most money?
Do you have a database?
What takes the most time?
WHO takes the most time?
How regularly do you communicate with your customers?
What is the average transaction value (sale size)?
How often does the average customer buy from you?
How much money do you make from one customer per week / month / year?
What risks and threats do you face?
What is your net profit? Gross profit?
What are your fixed costs and variable costs?
What is your attrition rate (customers you lose per year)?
What is your biggest fear?
Your greatest frustration?
Have you ever surveyed your customers for their opinions?
What differentiates you from your competition?
Do you have competition? How effective are they, and why?
How do you add value and go the extra mile for your clients?
How do you build customer loyalty?
How do you get your clients to refer new business to you?
Do you reward people for referring business to you?
Can you leave your business for three months? What would happen?
What do you love about your business? What do you hate about it?
What are your goals?
How are your business problems affecting you?
What is the impact on your family?
If things continue the way they’re going now, what will your business look like
in two years?
If you had a magic wand, what four things would you change about your
What keeps you awake at night?
How do you see the potential of your business?
Who are your key employees?
Who are your worst employees? Why?
When you take a good, hard, objective look at your business, you will
find you see a lot more. A reality check is always a good thing. It is important
to take stock of your present situation before you start a journey – you have to
know where you’re starting from.
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Pearls before swine? Your time is your most valuable asset, and it is
like priceless pearls to you. They are limited, as your days on earth are limited.
Your time is that important. Hilton Johnson has been in direct sales for over
40 years. He has been coaching and training salespeople, managers,
professionals and business owners for over 30 years. He knows what he's
talking about. He says, "One thing that will burn you right out of this
business, folks, is spending your time with the wrong people." I cannot
stress this strongly enough.
There is an idiomatic Japanese saying, "Gold coins to a cat." Not only will you
waste time that could have been put to better use with good people, but there
is a serious danger attached. Read the following: "Give not that which is
holy unto the dogs, neither cast ye your pearls before swine, lest they trample
them under their feet, and turn again and rend you." - Christian Bible. Note the
scary last part: "And turn and render you" - that means rip you apart! Yes, they
will turn on you when they can't understand your opportunity and message!
They will punish you for their own lack of understanding and discipline. By
casting your pearls before swine, you bring them into your business, your
circle, your family, where they can become dangerous traitors. Now here's
another shocking reality:
“A nation can survive its fools, and even the ambitious. But it cannot survive
treason from within. An enemy at the gates is less formidable, for he is known
and carries his banner openly. But the traitor moves amongst those within the
gate freely, his sly whispers rustling through all the alleys, heard in the very
halls of government itself. For the traitor appears not a traitor; he speaks in
accents familiar to his victims, and he wears their face and their arguments, he
appeals to the baseness that lies deep in the hearts of all men. He rots the soul
of a nation, he works secretly and unknown in the night to undermine the
pillars of the city, he infects the body politic so that it can no longer resist. A
murderer is less to fear. The traitor is the plague.” ~ Marcus Tullius Cicero
It's not just dumb to spend time with the wrong people, it's dangerous. Make
people qualify for your time. Protect it carefully.
Business is all about people. One of the biggest mistakes I have made
in business is to feel sorry for people, try to rehabilitate them, rescue them,
make excuses for them, overlook their bad choices, change them, or want
success for them more than they want it for themselves. Recently, I got rid of
one of the biggest snakes I have ever dealt with, yet everyone thought he was
a loving, hugging, caring, honest fellow who wouldn’t hurt a fly. He was, in
fact, just the opposite: a thieving, passive-aggressive, hypocritical parasite. It’s a
great relief to get rid of those types. Don’t just burn those bridges; BOMB
them, then bulldoze them. We are not social workers – we are in business to
make money and we get to choose whom we work with, whether they are on a
commission or a fixed salary.
The key to successful business is to select the right people to work
with, whether they are your advisors, mentors, bankers, accountants, lawyers,
printers, partners, vendors, employees, commission-only salespeople, admin
staff, management, or team members. It is essential to be very selective and to
get rid of the bad ones and replace them as soon as you discover that they
don’t fit. You want people who are aligned with your philosophy, values,
beliefs, goals, and work ethic. If you hire socialists, know that they will
sabotage your business, because their philosophy demands that they do. So
find out what they read, whom they vote for, whom they mix with, before you
hire them. An environmentalist who reads Noam Chomsky, smokes weed, and
votes Green is probably not going to help your business double profits.
I seek out motivated, ambitious, professional, honest, hungry people
who have a success track record. Realistically, most people don’t change, and
you’re not going to change someone who has been a loser all his life. So do
your due diligence, and even get a private detective onto people if their effect
on your business warrants it. Make sure you have contracts and agreements in
place, and always run them by a good lawyer – “hell hath no fury like a woman
scorned” applies to men, too.
People either have a positive or a negative effect on you. Remove
negative people. Look for people who are reliable, trustworthy, creative, loyal,
professional, proud of their work, and motivated.
Everyone that works for you needs to make you money, not just
occupy space. Take the time to find out exactly what they do, how many hours
they work, and if they are even necessary. There are people who are experts at
deceiving one in terms of the actual work they do and the contribution they
make. I had one who told me he received many e mails every day, but when he
left and I took over his e mail address I found hardly anyone ever emailed him.
Send them on leave for a week, and see if you can cope without them. If you
can, fire them. You’re not a charity. Treat the good ones like gold.
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Ideally, every employee should be on a pure commission
based income. When workers share the ups and downs of your business
success, they become committed. Give them a vested interest in your success.
Demand production, make them accountable, and lead by example. Your
employees are there to make the business more money than they cost. It’s your
business and you make the rules. Democracy in business doesn’t work. If your
employees were capable of running your business, they would have a business.
You should pay your people in direct proportion to their measured,
provable contribution and the value they create - no more, no less. Do not
“carry” people are allow parasite and leeches to suck you dry. Be strict and
consistent, and make sure your people understand that they are either totally
committed or no longer working for you. Measure their production and decide
if they can stay with you, and, if so, how much money they actually earn. Do
not pay them one cent more or less than that.
I once had a personal assistant who was in debt. I told her that I would
pay her the same commissions that my salespeople earned, in addition to her
salary, if her husband brought me people who bought my business
opportunities. She earned an additional $35,000 within the next two months.
She was a truly wonderful secretary, but when she heard I was immigrating to
Canada, she lost interest in her work, so I fired her. It’s not personal; it’s
Demand the best, do not compromise, and insist on regular, effective
communication. Your people will never exceed your level of competency,
ambition, vision, optimism, and integrity. Every one of your people should be
aligned with you business goals and objectives, values and expectations, and
they should all have a specific incentive to help you succeed in achieving those
goals. While they are committed, loyal, productive, positive, and professional,
look after them. When they are not, fire them.
In our semi-socialist, politically correct world, be very careful whom
you bring on board and have a good lawyer on retainer. When I interviewed
the secretary I mentioned previously, her husband asked me for her job
description. He was an officer in the army, and I’m an entrepreneur, so this is
how the conversation went: “Francesca, how much money do you want?”
“$1,500 per month.” “OK, here’s your job description: Whatever it takes,
24/7/365, absolute commitment. And your salary will be $2,500. Take it or
leave it.” She took it. Worked perfectly until she heard I was leaving the
The kind of people you associate with and work with will determine
what you achieve in your business. You can’t do it alone, but together, we can
do amazing things – ask Bill Gates. Clean out the junk and replace them, if
they even need replacing, with quality. Only hire the best. Fire the worst
salesman in the team every month, and you’ll see how much people can really
produce. I would never hire a smoker – they stink, leave the office to smoke
while you’re paying them to work, and demonstrate by their continued
addiction that they have little self discipline and self respect. Don’t accept
employee excuses – late is late is late. If they had a million dollar check waiting
for them at work, would they be late? I think not. Try this one: “You’re late
again because of your kids? That wasn’t part of our agreement. I am not
interested in hearing about your kids. You get paid to do your job, so you have
two choices: work on a commission only basis from now on, or leave.” Sounds
nasty, doesn’t it? You decide if you want to sacrifice your success for someone
else’s kids or not. How about YOUR kids?
The same applies to your Network Marketing downline. Don’t recruit
losers. Go for Centers of Influence and winners only.
Finally, most employees report on activities instead of results. I was a
new Food and Beverage Manager at the Bulawayo Holiday Inn in Rhodesia in
1979, the year before the terrorist dictator Mugabe took over. When I arrived
at the hotel, I was immediately called into a meeting in which the Innkeeper
and the Front Office Manager tried to persuade me to fire the Conventions
Manager, whose name was Oral. They said he was a lazy SOB. I said I would
make my decision within a week, and watched him working. He would do very
little work, it was true, but he was a fantastic manager and delegator. I called
him into my office and said, “OK, Oral, everyone tells me I should fire you
because you’re lazy and you sit outside smoking while your staff work. I am
now ripping up your old Job Description, and you are fired. Now I am rehiring
you with my new Job Description – here it is: You don’t even have to come to
work! You can sit and smoke all day and all night, as long as the work is done
to my standards. If not, I’ll fire you again. Yes or no?” He agreed, we shook
hands, and nearly a year later when I was about to be viciously attacked by four
people in the hotel’s disco, he literally saved my life. He was a great guy. I hope
he has survived Mugabe.
People want to be challenged and they want to achieve things at work.
I had a problem with the beer delivery at a hotel once – the two fellows who
had to unpack the truck every Wednesday took ages and I had to watch them,
which wasted a lot of time. One day I took off my tie, jacket and shirt, and
said, “Let me show you how fast I can work – how many cases can I unload in
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ten minutes?” I worked hard and challenged them to beat my record, which
they did, easily. The off duty kitchen staff saw what was going on, and asked if
they could also compete. The truck was unloaded in half the normal time it
took. This became a regular Wednesday event and eventually we cut the time
down to one quarter of what it used to take.
Set goals for EVERY aspect of your business, POST the goals,
celebrate successes, make everything a fun competition, and reward people
generously for the things they do right. Tell people it’s OK to make
mistakes. Fear inhibits creativity. Encourage them to be creative and use their
initiative. Reward them financially and proportionately for innovations that
make money; share the love, but punish dishonesty, excuses, and laziness.
Compare the fantastic service at the WestJet airline, where every employee has
shares in the company, with airlines with unionized employees – there is no
comparison. Capitalism works.
Are you proud, or are you profitable? When entrepreneurs get
emotionally involved in their businesses, they start seeing their business as an
extension of their ego, and that's when pride clashes with profitability. Men,
especially, sabotage their own success when they become territorial,
competitive, and pig-headed.
My very good friend and mentor, Marnus Roothman, the
DollarMakers Director for South Africa, used to ask me, "Do you want to be
right, or do you want to be rich?" I'm not talking in the context of values - I'm
talking about egotistical stubbornness. We're in business to make a profit, and
as long as you don't step on your values, you can benefit a lot from being
somewhat flexible and overlooking certain things in the interest of the big
picture; losing a battle to win the war.
As a "black or white", right or wrong, politically incorrect, A-Type
personality myself, I know whereof I speak. There is a time to compromise and
a time to insist, and there is also a time to understand and forgive. Again, as
long as your values remain intact, you will find yourself skirting detours and
getting to your destination, while your old self is still attacking the detour with
a battering ram and a small cannon. There's a difference between being
smart and being soft. If someone gets it right 98% of the time and messes up
2% of the time, perhaps it's wise to focus on the 98% and reward good
choices, instead of hammering on the bad ones. Maturity doesn't have to
You don't have to compromise your own standards. You do have to
give in order to get, and when you are prepared to overlook a flaw in your
business partner's performance, the reciprocal favor can mean a lot to your
bottom line. And it's all about your bottom line, not your bottom lip.
You're in business to make a profit, not to look good at your local
Chamber of Commerce meeting. Seasoned entrepreneurs understand that they
should keep their egos on a tight leash, spend good time on objective, strategic
planning, and maintain an eye on the big picture. They also know the value of
giving people enough rope to hang themselves - that's the chess player at work.
Hissy fits, tantrums, and throwing babies out with bathwater has it's place -
Indian organ grinders are said to discipline their pet monkeys by periodically
killing a chicken in front of the monkey - but that should be the exception
rather than the rule, and used only when entirely appropriate for the optimal
results. You're in business to make a profit, not to make a statement -
This book is about showing you how to double your profits and then
to keep on doing so. It’s not about how long you’ve been in business or how
smart you think you are. It requires putting your emotions and ego on hold for
a while and taking off the judge’s robes. If you hear yourself responding, “Yeah
but…” or “But I tried that…” or anything else that contains a “But”, check
yourself. Don’t deny yourself success because of past experiences,
conditioning, and false pride. If you fear failure, ask yourself this: Would you
fear failure if there was nobody else in the world? No, you wouldn’t, because
you don’t fear failure; you fear the opinions of other people who don’t give a
damn about you, anyway. This book is about doubling your profits with no
cost and no risk, so how can you fail? If you try something and it doesn’t
work, so what? You learned something which you can use in the future. You
succeed by taking action, succeeding and failing on your way to the top.
We will focus specifically on increasing your business profits in
this book. Everything you earn from the efforts and resources of other
people through Joint Ventures is 100% profit. What is your current net
profit in your business? Isn’t 100% profit the best kind of income?
32 For Free JV podcasts, ebooks and more, visit http://www.DollarMakers.com/
We will be discussing partnering and Joint Ventures in this book.
Make sure you choose the right partners, and communicate regularly with
them. Do not expect someone who has no money to pay you the handsome
commissions he is promising – get real. Desperate people do desperate things,
and situational ethics will kick in when cash flow is their problem. The
DollarMakers Joint Venture Club has hundreds of Members around the world
who have all agreed to abide by our Code of Business Ethics. When we find
that one of them is dishonest, I fire them. I have fired many Members and
refused Membership to many, as well. Be selective.
As you start implementing these ideas, you have to be careful not to let
your existing problems distract you. It takes a bit of time to set up new
systems, so you need to be patient, and some things simply won’t work, that’s
why we remove the risk and cost. Don’t give up because something doesn’t
When I was in high school I got it into my head that I wanted to play
in a band. There was no money for a set of drums, but I won a floor polisher
at a game show (in spite of being under age) and swapped it for a used set of
drums. My family was not wealthy: we lived in two rooms and two balconies in
a residential hotel, and I practiced playing the drums in that place. I must have
driven many to suicide. Being unconsciously incompetent, I advertised my
services as a drummer at a local music shop, and got a call from a real band to
join them for a gig at a restaurant one night. They didn’t know that I was self
taught and a rather pathetic drummer! One of the band members fetched me,
loaded up my drums, and took me to the Pinocchio Restaurant. Well, I simply
couldn’t do the job, so someone in the audience kindly took over and played
my drums for me. How humiliating! I was ashamed, but my dream was bigger
than any embarrassment, so I promptly advertised my services again, met up
with some great guys who taught me, humored me, mentored me, and endured
me, until I played better and we made good money and had great fun. The
word “QUIT” is not part of my life, and it should not be part of yours, either.
Failure is a temporary state, so don’t overreact to problems – keep on keeping
Your existing business problems will begin to fade as the profits in
your business increase and you transition to this new mindset.
Using Joint Ventures in your business effectively opens new doors and
removes all limitations from your earning potential, in many cases dwarfing the
business the way it is right now. The past is not equal to the future, and we are
going to follow the money, not the ego, the history, or the current beliefs and
expectations. With Joint Ventures, your business has unlimited potential.
Winston Churchill said, “A pessimist sees the difficulty in every
opportunity; an optimist sees the opportunity in every difficulty. The most
important factor in doubling your business profits is your attitude. The only
thing that limits us is our beliefs, and when you realize that these systems can
work to double and quadruple your income, you become unstoppable. In his
book, The Art of War, Sun Tzu said, “Victorious warriors win first and then go
to war, while defeated warriors go to war first and then seek to win.” That is
why it is so important to maintain an optimistic, strong attitude, and surround
yourself with a team of equally motivated people.
Winners go all the way. They insist on high standards, they do their
very best, and they expect the very best from their team. Ayn Rand said, “I can
accept anything, except what seems to be the easiest for most people: the half-
way, the almost, the just-about, the in-between.” A mediocre, lack-luster
approach will kill your endeavor before you even start. A good example is
immigrants. When you immigrate to a new country, you literally have to start
your life all over, and your attitude at the outset will determine what you
achieve. Those who “keep the back door open”, who use words like, “Well, if
it doesn’t work out, we can always go home” are guaranteed to fail. It’s not
WHERE you are, but WHO you are. A winner can be dropped anywhere in
the world and he or she will rise to the top. Cream always rises to the top.
Believe the dream. Be the cream.
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Your time is by far your most valuable resource. It should be very
carefully used. It is irreplaceable. Ideally, you should only do what only you can
do. The rest should be delegated, subcontracted, or given to people whom you
pay to do it. Leverage other peoples’ time. Wasting time is a great sin. You
should not be doing minimum wage jobs, like washing you car, licking stamps,
standing in a line at a Post Office, or doing ANYTHING that you can pay
someone else to do. Your time should be used to set up deals that make you
rich. Don’t let emotions, feelings of obligation, or guilt dictate the way you
invest your time. Be reasonable. Imagine each hour costs you $1,000 and that
you would have to write a thousand dollar check every time you allocate one
When we complain that we don’t have time, we’re lying. We all have
24 hours a day, and we have allocated that time to certain priorities and
activities. When someone says, “I don’t have the time”, they simply mean that
it is not a priority for them. You have to give up one activity to make time for
another. The question is, what is the best use of your time? What is the
highest possible return on the investment? You have 24 hours a day to
carefully invest, just as you invest money, except that once time is spent, it is
spent forever! If for you sleep 8 hours, eat, do toiletries and dress for another 3
hours, and allocate one hour for other unavoidable essentials, you have
TWELVE HOURS A DAY. One hour a day = 365 hours a year, or 15.2 full,
24-hour days! Yes, it adds up, and there is a cumulative effect. Read Jeff
Olson’s book, the Slight Edge, and you will never see time in the same way
again. Success is the result of consistent, good activities over time.
I was a Work Study Officer, so I learned about work flow, flow charts,
PERT diagrams, and how to save time and money by designing the right
systems, forms, and work processes. I was amazed at how much time we waste.
At any given time during the day, you should stop and ask yourself these
important questions: “Is what I am doing now essential? Should
someone else be doing it? Is it the best possible use of my time? What
would happen if I didn’t do it? Is it taking me towards, or away from my
objective? Is it important, or simply urgent?”
How you regard money, how you manage it, how you invest and
allocate and spend it, makes a huge difference to your profits. Wisely cutting
unnecessary costs and overhead, while understanding the difference between
good debt and bad debt and leveraging all the money you can, is what smart
people do. Let’s look at a few examples.
Can you use existing resources instead of buying or renting resources?
For example, the average boat owner in British Columbia (best boating waters
in the world) only uses his boat 30 days in the year. When you examine the
numbers, it’s cheaper to charter or rent a boat rather than buy one. Ego makes
you buy the boat. Reason allows you to rent one. Every year I am tempted to
buy a ski pass. Every year for the past nine years I have saved money by not
buying one. THINK. Analyze. Evaluate before you spend. I drive a ten year
old car. I can afford the best, but I have nobody to impress. Did you know that
Wal-Mart founder Sam Walton, one of the richest men in the world, drove an
old pick-up truck?
A cost is different from an investment. Too many entrepreneurs
buy things they don’t need and can’t afford with money they don’t have to
impress people they don’t like and who don’t even notice what they bought.
Money has to make you money. When I say I do things with no money and no
risk, I really do. I have NO overhead or fixed costs apart from Internet access
and a telephone bill. I seldom use a cell phone, and I get everything paid for by
other people most of the time. I set things up like that.
I can show you a way to get 12% on your money. That means you
can get a line of credit at say, 6%, and then lend it out at 12%. So you’re
making 6% on the bank’s money. On $100,000 per month, that $500 per
month profit, every month, for doing nothing. How many products do you
have to sell to net $500? When you get that special introductory offer from a
credit card company offering you $100,000 for one year at 2% interest and no
card charge, why not take it and lend it out at 12%? That makes you 10% profit
= $833.33 per month. Why pay down your 6% mortgage when you can earn
12% on that money? Use the equity in your home to put money in your
pocket. Make the bank work for you. Push your bank manager to lend you
more money, or move to another bank, then lend that cheap money out at
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If you want more information on this excellent 12% return on
investment, e mail me email@example.com – I use the source all the
time, as do many of our Members. Available worldwide.
ADVERTISING: Ask yourself, is this expenditure making me money
or serving a good cause, or am I just spending this money out of habit? I knew
a businessman who spent money buying T shirts for a baseball team. He hates
baseball, but he was convinced he would get great advertising. Wisely, he
monitors all new business, so he knows the origin of all his business. He has
never got any business out of this sponsorship, but he is embarrassed to stop
wasting his money in this way. EGO. You will more embarrassed when you go
bankrupt. Get over yourself. Don’t be a collectivist. You don’t owe those kids
anything. This is business. It’s OK if you just want to help or donate, but don’t
confuse advertising with altruism, ego, or the inability to say, “NO.” My wife
and I get to the supermarket checkout and the kid at the cash register asks if
we would like to donate a dollar to athletes. No! What did they do for me? Be
strong and clear. I give money to people I love and care about, not unknown
characters. And I make sure I control how the money is used, too. And I
NEVER give to charities like the Salvation Army, where a large portion of my
donation is used to pay lazy bureaucrats.
It’s your money, you earned it, and you are not obliged to give it away
When advertisers try to entice you to gamble with them and
believe their tall stories, here’s what you do: Let’s assume the advert costs
$2,000 and you normally pay out $100 commission on the average sale. You
tell the advertising company (not the sales rep, but the owner), “Let me ask you
this, you know your advertising medium, reach, and demographic, and you
obviously researched my business in depth (yeah, right!) before approaching
me to spend my money with you, because I know you care about my business
and I can see you’re a professional. Knowing your advertising and knowing my
business the way you do, would you expect me, reasonably, to make at least 40
sales as a result of this $2,000 advert?” They will usually answer “yes”. So you
respond, “OK, this is what we’ll do. You go ahead and advertise my products
and have all the responses routed through your office to me, so that you have a
control and you can do a spot check. For every lead I convert, I will pay you
$100. If I make the 40 sales you promise, you’ll get $4,000 instead of the $2,000
you’re asking for. And if we only get HALF of those sales, you will still earn
the $2,000, so you can’t lose!” That’s called Contingency Advertising. Pay for
results, not promises. Don’t fall for their lies. I NEVER pay for advertising. I
always pay for results. Commission only, that’ the way to go. Risk free. Let
the advertiser lie awake at night, while you sleep like a baby pig with a full
Put your employees on commission only. When people want a
meeting with you, let them come to YOU. Don’t use time and gas and travel to
them. A good friend of mine is very wealthy, and when he invites me to a
meeting at his boardroom, he means his swimming pool. Actually, it’s the
apartment complex swimming pool. Use technology, save time and money, and
stop trying to impress people. When you buy an expensive bottle of wine, I just
think you’re wasteful, because I know that you probably couldn’t tell the
difference between a $20 bottle and a $100 bottle. That doesn’t mean we
shouldn’t enjoy the best things in life, it just means we should spend money for
the right reasons and stop fooling ourselves. Did you know Warren Buffet
owns a fleet of jets but he flies with the same airline you and I use?
The worst show-offs are the Network Marketing new rich – the
mailman that did well and now drips with diamonds, the lawnmower salesman
with the expensive Rolex. My multi-millionaire friend brag about his ten dollar
watch bought at an airport. I love Network Marketing, but I wish the top
producers would get a little class.
Close those holes in the bottom of the bucket. Take a good look at
your expenses. Don’t cut the cost of the flowers you send your customers,
because they might bring a great ROI, but perhaps carefully reconsider that
Starbucks grande latte. Rika and I use petrol points, Air Miles, supermarket
points, and coupons. And we use the local library a LOT. Do I still buy books?
Of course! I spend a lot on new books, too, but I also save a lot by using the
As we move a long, you will see how we use Joint Ventures to save
money in our businesses, but at this point I must mention Barter and Trade.
We joined a Trade company. They marketed our $1,000 per person Bootcamp
at their cost and we earned 8000 Trade Dollars. Our cost on that to the Trade
Company was 12% and our direct cost was only 3%, so when we spent those
Trade Dollars to buy things from other Trade company Members at their
regular retail prices, we were getting an 85% discount! When you understand
cash conversion, and the leverage of perishable resources through the use of
Trade, you will find many ways to make money, increase sales, and leverage
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Trade Dollars are deemed taxable Income by Revenue Canada,
probably by the IRS as well, so you can sell excess inventory and time, space
and services, and earn trade dollars, (the trade company does the marketing for
you at no cost, so they can earn their ten or twelve percent), against which you
can borrow money from the bank. So you earn $40,000 trade dollars selling
excess inventory at a cost of sales of $4,000, plus the company’s 12%, and
when you spend that money you get 78% discount on regular purchases. Will
that push up your profits? Of course it will. BUT, you could also borrow
money from the bank against that $40,000 at 6% and lend it to my contact at
12%! That earns you an additional $200 net per month, pure profit that goes
straight to your bottom line. Lovely! I would go so far as to say, “Delicious!”
There was a smart fellow, years back, who wanted to buy a hotel in
California for $1.5m. So he met with the hotel owner, his lawyer, and a scrip
broker, issued $3m worth of scrip (coupons and gift certificates for rooms and
food to be used over the next five years) and sold the scrip to the broker for
$1.5m, which he used to buy the hotel. Then he borrowed a million dollars
from the bank at 6%, using the hotel as security, which he loaned out at 12%.
That earned him $5,000 per month net profit. There is a 40% breakage on the
scrip, which means 40% will never be used, plus it goes down in value against
the rising prices over five years, and with a food cost of 32% and a room cost
of 18%, he couldn’t help but get rich. People who used the scrip stayed longer,
ate in the restaurants, and brought their friends…
In Australia, you can get a cab or go to movies using trade dollars. In
the US, you can buy Trade Dollars for 15c on the dollar. You can trade cars for
television advertising, as was done with a thousand Imperials in the 1970’s, and
anything is possible when you understand value, cost, retail, and leverage.
For more information on the power of Barter and Trade Dollars,
Business is only risky when you set it up that way. I am risk averse, so
I don’t risk. 87% of new businesses fail in the first five years, and 87% of the
remaining businesses will fail in the next five years. That leaves you a success
rate of 1.69% in ten years. You’re better off going to gamble in Vegas. So why
buy a business or a franchise? You think you’re paying $100,000 for the
business, but what about the leases, employees, law suits, overhead, fixed costs,
and worst of all, your TIME? Enormous risk. A clever fellow I know, like, and
respect, recently bought a bindery business. He’s working hard and long hours,
so I wish him every success. I was on a plane from Edmonton, Alberta, to
Vancouver, and chatted with the fellow next to me whose friend owns and is
buying up printing businesses. I connected the bindery guy with the printing
guy, and if they do business, I get paid a commission, with virtually no time
and no risk to me, and any commissions I earn will be on an ongoing basis and
100% profit. I am making money from a bindery business without buying the
bindery business. If they don’t do business, I haven’t lost a cent, have I? I’m
going hiking with the bindery guy on Sunday. I must tell him he’s going to be
in this book.
How does this apply to your dry cleaning business or dentist practice?
How does this apply to a chiropractor, I hear you ask. (Yes, I can actually hear
your thoughts! But don’t be scared – I won’t tell anyone what you’re thinking.)
It applies to your bottom line. It’s a principle. You’re already introducing Tom,
Dick and Harry, referring Jan to Susan, and recommending good services, but
you’re not getting paid for it. You hope people will remember and reciprocate,
but usually they don’t. It’s a bit silly, actually, like having people come into your
store and take stuff and hope they’ll be good enough to remember to mail you
a check sometime…. Not going to happen, I’m afraid. You should be paid
for all the value you create. On an ongoing basis. It’s business they
wouldn’t have had without you. You deserve it.
What if you have been sending someone free business referrals
for years, and never got paid, because you didn’t ask to be paid? First,
stick yourself in the eye with a sharp stick. Then, even if he never sent you any
referrals, (but you did send him referrals), call your friend and say, “Hey, Billy
Bob, I have to apologize to you. I’ve been reading this book by this bald
character, Robin J. Elliott, who tells me I’m cheap, because I don’t pay
commissions on referred business, so I’m sorry, because I foolishly never
offered to pay you a commission, on an ongoing basis, on any business that
results from your referrals. I’m sending you a signed contract to that effect.
From now on, I pay 15% of the retail price. And I will pay you every time your
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referral buys from me, because it’s business I would never have had, and this
way I give you a vested interest in my success. Now tell me, Billy Bob, would
you mind doing the same for me?” If he says, “No”, don’t fight, just never
refer any business to him again – instead, start referring it to his competitor,
but make sure you get paid for it.
If you’re in the United Kingdom and you want to dramatically
improve your personal financial situation, regardless of what business you’re in,
with no cost or risk, I discovered a great service there that costs you nothing
and will free up money and cash flow, build wealth for you, leverage what you
have, and even show you a way to earn additional income. I personally would
be first in line to use this financial service if I lived in the UK, believe me. For
more information, e-mail me at firstname.lastname@example.org and put “UK
Financial Services” in the Subject Box of your e-mail. I will need your
telephone number and full name, and I will refer you to the appropriate
Your database is your most valuable business asset. You should have
your database in an electronic, accessible file, backed up, and secure. It should
be updated on a regular basis. The more up to date, detailed and specific your
database, the better and the more valuable it is. You should communicate with
your database via hard copy and electronic newsletters regularly, as well. Once
a month with a hard copy, paper newsletter, and once a week with an e-
newsletter. Every person you deal with, be it a paying customer or a contact, or
a vendor, supplier, or friend, should be in your database. And they should all
opt in so that they can’t report you for spam and have your websites closed
Give every person you do business with an attractive incentive to opt
in to your database, and maintain your database diligently. It’s never too late to
build your database. Make sure your newsletters are professional and
interesting, with compelling reading, and that they all offer real value in the
form of incentives, gifts, coupons, and useful information. If you need content,
you can use the articles on my Blog, www.RobinJElliott.com, as long as you
do not edit them (they are copyright) and you add my name and website at the
beginning of each article. There are over 850 articles on that Blog.
How do you get people into your database? Offer them an online
incentive to opt in from your website, where they can download a free e book
(you can use my Joint Adventures e book if you wish), a report, a Gift
Certificate, or a Coupon. If they’re coming into your place of business or your
salespeople are calling on them, have them enter their information on a form
or give you their business card in return for a special discount or printed Gift
Certificate or gift.
How do you get other people to offer you valuable, free consultations,
services, samples, reports, and even print beautiful Gift Certificates for you to
distribute at their own expense? Simple. You approach your favorite jeweler,
(do not cold call or ask unknown people), and ask him if he would like more
business. If he says he would, ask him if he would be prepared to pay you a
reasonable commission on any business you send to him, say 20% off the top.
If he agrees, you tell him, “OK, Cecil, this is how it’s going to work. You print
one thousand full color Gift Certificates on nice card stock for me, with
envelopes, stating that the holder of the Gift Certificate is entitled to a
complimentary jewelry cleaning or jewelry evaluation, valued at $50. These Gift
Certificates must bear a tracking number, so that you know you must pay me,
42 For Free JV podcasts, ebooks and more, visit http://www.DollarMakers.com/
on an ongoing basis, 20% of all and any purchases made by that person at
any time in the future, and so that I can track which Gift Certificate
distributors are bringing in the best results. Here is an agreement that I have
created that you must sign. I assure you that these Gift Certificates will only be
distributed to the kind of people you would like to have as customers, not to
homeless people, drunks, terrorists, or your hated mother-in-law.”
When people make contact with you business, you offer them a Gift
Certificate in return for entering your database and enjoying your wonderful,
regular newsletters that are jam packed with great information and valuable
deals. You can have Gift Certificates offering complimentary consultations
with lawyers accountants, and chiropractors, Gift Certificates offering a free
Home Theater demonstration, interior design estimate, plumbing evaluation,
spa treatment, haircut, Kung Fu or Yoga class, or two month gym
membership, whichever businesses agree that they want more customers and
are prepared to pay commission on them. No cost or risk to you, and each Gift
Certificate has the potential of driving net profit income into your business.
Guard your database closely, never give it out, and be very
careful whom you expose your database to.
Cash Flow and Residual Income
You want to work once and get paid many times.
The best way to illustrate this important point is to talk about a carpet
cleaning business. Most carpet cleaners do a good job, and when they’re done
they get a check, and Elvis has left the building. No loyalty, no follow-up, no
added value, nothing. That’s what I call a “Vending Machine Business” – you
put in your money and you get your candy, but you don’t get loyal to the
vending machine, send your friends to use it, carry a photo of the vending
machine in your wallet, or travel out of your way to purchase from it. Most
businesses are like that. Let’s see what a smart carpet cleaning business owner
could do to create cash-flow, repeat business, and more profit.
Could the carpet cleaner approach you after doing a great job, in this
way? “Thank you for using our services, Mr. Elliott. (What a change if we
started calling people Mr. and Mrs., Sir and Ma’am, like they do in England?
‘Good morning, Suh!’ Don’t you feel better when you’re called Mr. Smith,
especially if your last name is Smith?) I am going to add you to our database so
that we can send you regular Gift Certificates and useful information on
keeping your carpets looking like new, removing stains, etc. Now, Mr. Elliott,
we have a special opportunity for good clients like yourself. To make your life
easy and lock us in so that we are always available for emergencies 24/7, you
can join our Clean Carpet Club, which is only $35 per month. That entitles
you, as a Member, to a complete carpet cleaning every six months, so your
carpets will always be immaculate. In addition, we are available 24/7 for
emergency cleanup at a reduced fee, and of course you will receive our regular
newsletters. Plus, as a Thank You Gesture for signing up, I have Gift
Certificates for you valued at $300 right here, and our Home Directory, which
includes introductions to Home Service Providers that we personally use,
including discounts, special deals, free consultations, and more. Now, I need
you to choose which of the Gift Certificates you want for signing up…” He
then offers you a choice between six Gift Certificates: Evaluations, samples,
freebies, etc., for electrical services, landscaping, plumbing, Home Theater,
interior design… and the Directory he spoke about? Advertisers pay to appear
in that Directory.
And any business resulting from any of the Gift Certificates or the
Directory will generate ongoing commissions to the Carpet Cleaner at 100%
profit. When you sign up for the monthly deduction, the carpet cleaner has
essentially established a regular cash flow situation, and the additional income
from his Joint Ventures with all the other suppliers also creates cash flow, of
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“Oh, Mr. Elliott, I almost forgot! Here are ten Gift Certificates for
you give to your friends and associates, offering them a free cleaning of a 10 by
10 foot room in their house. If any of these people sign up for our monthly
membership, you will receive a choice of new Gift Certificates valued at $200!”
This generates more customers for the carpet cleaner. He can also
have the customer complete a check list of services he is looking for, which can
them be referred for a commission to the carpet cleaner. The carpet cleaner is
looking for ways to sell other services, provided by other people, to the
customer, be it furniture, tiling, painting services, window coverings, or
As the carpet cleaner’s list / database grows, he can leverage it by
introducing other products and services to his list, and earning commissions
(ongoing) on all those resulting sales. Naturally, he will have a website, too, but
we will discuss that further on in this book.
The way to understand cash flow is to realize that once-off sales are
not as good as repeat sales and a back end (a Back End is additional sales by
other people to your list, which earn you commissions). Once the carpet
cleaner has a regular income from these memberships, he can sell the business
for a lot more. To avoid quiet and busy times creating cash flow problems, the
carpet cleaner is receiving income from other suppliers that are busy during his
quiet times. And those Gift Certificates don’t cost you a cent, because you
don’t pay for the printing – that is paid for by the people providing the
products and services.
Imagine if you sell someone a product or service that you know they
are going to buy on a regular monthly basis, having once used it satisfactorily.
Why not GIVE them the initial product or service, or make it available at a
steep discount, to get them on board? If your cost is $20, but you make a profit
of $20 per month every time they buy, why not make a loss by giving then the
initial product or service? You recover your loss in two months and then you
have regular cash flow! That’s called losing money on the front end and making
it back on the back end. Or you might break even on the front end. This is not
taking into account all the additional income streams from your Joint Venture
partners – the additional products and services you will sell to your customers.
The Carpet Cleaner who does this will instantly differentiate himself
from his competition, and if he leaves gifts with you, like a brush or a carpet
cleaning widget, he will definitely be different and get attention – people love
getting free stuff! Your purpose in business is to create multiple, growing
income streams @ 100% profit. If he is really smart, he will, as Michael
Gerber suggests in the “E Myth”, start working ON his business instead of IN
it, and subcontract the carpet cleaning, while expanding on the back end,
marketing, and leverage discussed here, so that he spends his time on
productive things and not on minimum wage activity. As Paul Getty said, “I
would rather earn 1% of the efforts of 100 men, than 100% from my own
By cutting overhead and increasing income, your bucket fills up.
By now you realize that the carpet cleaner makes a lot more money from other
service providers and other peoples’ products than he does from cleaning
carpets. His carpet cleaning business is merely a “Feeder”.
Why is it good for Joint Venture Partners to pay an ONGOING
commission? Many people have a problem with this because they don’t
understand the value. Think about it: If I send you business that you would
never have had, and you pay me every time that person does business with you,
perhaps for years, I think of you and your business every time I receive a check
from you. I start to rely on the income, budget for it, expect it. If that person
that I referred to you stops buying from you, and the check shrinks, what is it
that I will probably do? Find more business for you! You have me locked in
with a vested interest in your business success. You have me thinking about
how I can get you to send me more money, since there is no time, risk or work
involved, and it’ all 100% profit to me – easy money! I might call you and ask
you what I can do to send you more business, so that you can send me more
commissions – what new marketing materials do you have? Do you have a Gift
Certificate that I can send out to my database? Can you speak to my people on
a conference call? See? I am now helping you expand your business! If I have
ten JV income streams at 100% profit, and I only increased each one by 10%, I
would DOUBLE my JV income. Makes sense to me! ALL my income is 100%
profit, it is all JV income, so I know this works.
What if people stop paying you? You call them up and tell them to
start paying according to your agreement with them, so that you can send them
more business. If they refuse, hand them over to your lawyer. Now you might
know that in my previous books and seminars, I suggested that if people stop
paying you, or play games with payment, you simply walk away because you’re
really not losing anything. I said that because running to a $400 per hour lawyer
simply wasn’t worth it, however I now have a top legal firm on retainer for $36
per month! They check all my contact and agreements, I can call them any
time, they write letters or make phone calls on my behalf if they deem it
necessary, all for $36 per month, and if I am in another province or state
46 For Free JV podcasts, ebooks and more, visit http://www.DollarMakers.com/
anywhere in North America, they will refer me to a local, top law firm. I am
covered – for $36 per month. This service saves me thousands of dollars an
makes me thousands of dollars, because I even get paid for referring them -
JV! I strongly suggest you use this legal insurance / retainer service – for more
information, e mail me email@example.com with your e mail address,
name, and telephone number, and “Legal Retainer Service” in the Subject Box
of your e mail.
Cash flow is essential to all businesses, and 100% profit cash flow is
best, that’s why we use Joint Ventures. More information as we go on. This
information applies to Network Marketers as well - any business. Here’s the
KEY: Think about your customers, care about the people you serve,
listen to them. What other products or services do they need? How can
you solve their problems and help them live a happier life? How can you
be of value to them? What value can you give them (that other people
pay for)? And when you help them, get paid by the suppliers of that help.
Now, you may be asking, “But tell me, old Bald Boy, what if people
have such slim margins in their business that any commissions they offer to
pay me are so meager that it’s not worth my while?” Good question! There are
MANY ways to reciprocate – they can give out YOUR Gift Certificates, e mail
their database about you, refer you, advertise you on their websites and in their
ezines… we’re not limited to financial remuneration. In fact, you often make a
lot more from a solid referral that becomes a client, because of all your back
ends, than a mere commission check.
“Your big opportunity may be right where you are now.”
~ Napoleon Hill
Getting More Customers
Most realtors would love more customers, I’m sure you’d agree. Rika
and I went on a whale watching expedition off Northern Vancouver Island,
and we saw whales, porpoises, dolphins, eagles – a wonderful trip. In San
Francisco, New York, and Victoria, we took city tours and marveled at the
scenes. What do you think tourists ask? “What does property cost here? What
would a little apartment cost in this beautiful place?” In Hawaii, Cancun,
Mauritius, the Florida Keys, Las Vegas, Los Angeles, in the Caribbean,
England, wherever we traveled, we always wondered, “What does property
cost here?” We can’t be alone. A realtor (real estate agent) should be on every
tour bus possible. Why would the tour company not charge realtors to be on
all their tours, and even demand a commission on any resulting sales? There
are many fish out there, and there are many ways to catch them
You can print Gift Certificates offering free consultations,
evaluations, books, reports, seminars, conference calls, samples, classes, and
other ways to sample or taste your products or services. I’m not talking about
discounts, two-for-one deals, or special prices – these should be real value, no
obligation, compelling value, enticing offers. What would happen if an
expensive restaurant in your area used your Gift Vouchers to differentiate
them from the competition? At the end of the meal, the Maitre D’ swoops up
to the table, asks you if you enjoyed the meal, then says, “Madame, I have been
authorized by the management to present you with a Gift Certificate (which he
proudly presents on a silver platter at this time) valued at $100 for a facial at
Paul’s Beauty Palace on the High street, with our compliments.” Wow! The
restaurant guests tell all their friends, and the lady pops down to your spa for
her facial and then becomes a regular client because of the exceptional service
and ambiance you provide. And you pay the restaurant a commission on all the
business she ever does with you, to motivate them to continue to distribute
your Gift Certificates. Could you have ten restaurants, upmarket hairdressers,
and clothing boutiques issuing your Gift Certificates?
You could also join a Trade / Barter company and have them
market your excess capacity, excess inventory, underutilized time and resources
for trade dollars that you could use to buy printing, etc., at a massive discount
(www.BarterBootcamp.com). The marketing they do costs you nothing at all.
You can pay people a commission for staying at home and calling
business owners on the telephone to attend your free seminars – only pay for
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You can arrange for someone with a large database to promote
your products and services to their list, via their websites, ezines, e-mail,
newsletters, sales force, seminars, or stores, and pay them a commission on
resulting sales. This is very effective – no cost or risk – pay only for results.
When I trained hairdressing salons to double their profits in two months using
Joint Ventures, it took me nine months to get four clients @ $1,000 per month
each = $4,000 per month. The owner of the Redken hairdressing product
franchise approached me and suggested that if I was to exclusively represent
Redken and only train salons that used his product, he would promote me
through his sales force. I agreed, and in four days I went from $4,000 per
month to $20,000 per month in that profit center. Four days! (Sounds like
Woodstock: “Three days, man!”) Redken got their product into 16 new salons,
I got to train 16 new salons win/win. The salons trusted Redken, and they
didn’t know me, so they followed Redken’s advice and bought my service. A
triangulation of trust. That is the power of being endorsed and marketed by a
centre of influence to his database. I write an article every month for someone
else’s newsletter. It is read by over 2,000 people in hard copy every, single
month – great advertising! Doesn’t cost me a cent. Good for me, good for
them; win/win, no money, no risk.
Why not saunter down to a Trade Show? As you waddle down the
isles, you will find that some of those expensive booths have nobody paying
them any interest. I’m sure you’ve seen that. The booth is a flop. So you offer
to share the booth and pay the miserable, dejected owner a commission on any
sales you make. If you find the booth owner drowning his sorrows in the bar,
offer to run his booth for him while he gets inebriated, on condition that you
can also display your own stuff there. This stuff works; I have done this many
times. Share the booth and share your profits. Or just buy the booth from him
for a few hundred bucks, and send the owner home to his mama. You can also
wait for the day on which the trade show starts, when the commission-only
salesperson has close the books, and offer to buy one of the unsold booths for
$500 – works every time.
I love piggybacking on mailings. There are people sending out
thousands of statements, invoices, flyers, and adverts every week and month.
Suggest to them that they include your flyer or offer or Gift Certificate in their
mailing and offer them a commission on all resulting sales. They can include a
letter in which they endorse your service.
Use Contingency Advertising as previously discussed. It is very
effective, and every advertiser has excess space.