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Thursday, July 11, 2013

James Malinchak Reveals The Value Of Payoff Versus Cost For Speakers

By Liam Martin


One of the biggest factors that helped me greatly is learning from those who have experience in your field of interest. I refer to them as the people who have done it and who are still doing it. Just as you're gaining knowledge from me in this article here, you are taking information that you learn from someone else who's either in another field or in an advanced stage of knowledge you need to acquire. I admire and I respect you for taking the time to read this to learn and be more, do more, and achieve more. You're setting yourself up so that if you take the right actions, you can accumulate and attract more wealth and grow your business. See, I always say that if you want to go more, you have to grow more. That is what I admire and respect about the fact that you are reading this right now.

One thing that I'm very big on is whether or not you concentrate on the current costs. If you merely focus on the current costs, you will never see the future payoff. Someone out there has already figured out anything you want to do in your business. If you want to get more business in your local area, there is someone who has already figured it out. Heck, you are learning a lot of unique strategies, ideas, and concepts in this article alone.

My point is that you should be investing for learning purposes for yourself. You should purchase joining organizations in your community. A great group to become listed on is the local Chamber of Commerce so that you can quality relationships. Your work whenever you join such groups is investing in yourself and your business to achieve strategic alliances.

This unique strategy which I have been alluding to is exactly what I refer to as "payoff vs. costs."

Let me us a pizza shop to demonstrate what I mean. One of the reasons that I use a pizza shop as my example happens because it is such an easy example for anybody to understand. You need to invest to accept individual who owns the video store next door out for any $20 lunch. The main reason you are taking these to lunch is to discuss the idea of collaboration and cross promotion for both of you. In this instance scenario, you help each other out. Then, you can both share in the costs of certain radio spots that drive people into both of your businesses.

Heck, if I owned that pizza shop, I'd go into the radio station, and i'll cut them a deal where I'd outlay cash, excuse me. Allow me to cancel that and correct my words to state invest in them. I would invest in advertising dollars around the radio station to market with them, but in return, I would like them once a month to broadcast from the inside my pizza shop. That relationship is totally different now since the radio station is committed to my success, too. The people broadcasting will be able to drive people into the store simply because they will be giving freebies off to prove. That's thinking completely different than before in your business!

Yes, there will be some costs involved with the radio station hosting from your remote location. However, if you are only centered on the cost, then you will not see the payoff of the cross promotion. If you are not good at this, you need to get involved with a coaching program. Plus, you should be attending seminars in which you learn these things. This learning will be the best investment you could make to your business since the payoff is for the long term!




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