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25 Ways to Jumpstart Your Business

Lesson 8 of 23

Get Customers You Want

Barry Moltz

25 Ways to Jumpstart Your Business

Barry Moltz

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Lesson Info

8. Get Customers You Want

Lesson Info

Get Customers You Want

All right, so now what I need you to do to get rid of all those people is a couple different steps. First, you have to review all the list of people that you think you're gonna do business with. Note the last action, follow up with them four time, send the letter, and then put him back in the marketing funnel. Because, remember, it's no, not now. It doesn't mean forever. When they have the pain and the money to solve the pain, then they'll buy from you. Now, we also have ah lot of customers that we no longer want to do business with. Right now, I'm not gonna ask for a raise of hands, and I'm not gonna ask for a raise of hands out there, but raise your hand if you have a customer that you just hate to do business with. All right, put your hands down now, all right, because we all have those people that we do business with just for the money. We really hate to, but I will tell you that ultimately you have to stop doing business with those folks because they're not good for building your ...

business. They're probably not being good to the people that you're working with, and they're really not taking you to the next level. So they have a couple of symptoms. One is you hate them, right? You never communicate with them, right? You're always searching for better ones, right? So stop searching for better ones and weed out the good ones from the bad ones. Right? Find out which ones are really profitable because you can have someone that gives you a lot of revenue, but there could be a lot of cost. Ah, so say with that revenue. So they really are not profitable in that sense. And is there a customer inside of your business right now that's poisoning you and your company. So who has someone without mentioning names of someone they would like to get rid of or something that's happened in the past? Or someone that was not probable or was poisoning their company? Jana, she is over here smiling. So I know she's brave enough to tell us. I was selling Chris Story about a particular customer in his son that we had to deal with. Um, the father was under the influence of a lot of alcohol and the sun was concerned about him and was sort of estranged from him for a time and came in to sell us one of his instruments so that he could give some money to have his dad pay the rent. So we knowing the situation in the back story, we're very compassionate with him when we worked with him on it and we gave him an offer and he accepted that. And then we said, If within a certain timeframe, if you have the money and you want to get your instrument back, we'll give it back to at the same price. No problem. You know, we want to help you out. You also double as a pawn shop in your business, right? Right. Trying that. Too much of a customer trying to help him. He was an old student of ours. And so, um, after double the time that we initially had offered him to come back and get the instrument back, him and the father came in and the father realized what he had done in in a drunken stupor, basically threatened us and got very belligerent in our store. And so basically told him, no we didn't have the instrument anymore. We had already resold it as per the agreement we had with the sun. And so he became very upset with us and promptly left and posted some very, very mean things on our social media and yelp and everything else, which was then very difficult to some of it was removable on some of it was not so. It was hard to want to retaliate to that common in a nice way without making us look bad, but also calling him on really his out of line, you know, way that he behaved towards us, so that's a good example. But I have an example. Example. We all have those in our careers in our lives where we go to a job with a client and we're going God, they're paying us a lot of money, but this is really a miserable client. But you have to think about how do you actually value a client? Valuing them is not just based on revenue. It's based on a bunch of different things based on revenue minus the cost, because if some customers take up a lot of your time to service, so for example, In my Yoko's case, she may have a Glade client, but if she's on the phone with them every single day, then that may not be such a profitable client. The timing of the revenue may also be import. You could have a retail store where Christmas is incredibly busy and you don't need any more customers around Christmas. You really want some in January, February and then more valuable referrals and buzz. Why is that important to the value of a customer? Karen. A referral means that somebody liked you and they gave a positive to you. And it's the little pebble that then spreads. And that could bring in a much larger customer base for you, Right? Because remember, if someone gives you a referral, it can multiply really their effect. If they're an evangelist for you, that's the best thing that really can happen. They also could be valuable if they stay with you for a long time. We talked about that. The lifetime value of a customer is key. It may cost the dollar toe, acquire a customer, but if they stay to be a client of yours for many years, then it's worthwhile. Let's have an example. If you know the cell phone industry or for those of you that are friends with Sally, the mobile industry, right? Why can they sell a phone for less than it costs? Why were they able to do because they're selling, Let's say, a smartphone for $100 or $200. But the phone costs probably $500. Why can they do that? They invent that into your bill over the course of your contract. How does it work? Well, from what I understand, they kind of set up a payment plan within your bill That helps to pay for the value of the phone of her time so it doesn't feel like you're throwing down. Ah, whole bunch of money for that phone at that time doesn't exactly work that way. But if you think about the lifetime value, if I'm a telephone customer, right, so let's have to sign a two year contract and I spend about $50 a month. Well, over that period of time, I'm going to spend $50 a month, which is gonna ask me OK to back me because she's really good at math is $600 for the year. Right times three years. That's $1800. Their cost of service on that is very low, so they'll make up for the cost. The phone because they over three years, they've kind. You have a contract with that. So keep thinking about the valuable customers, really, their lifetime value. It's not just the one time, and finally, the customers brand is really important. OK, so let's let's let's let's face it, would you rather have? And Judy Carter mentioned this earlier, and if you missed the Judy Carter segment, you got to go back and listen. Judy Carter, Would you rather have me as your customer or Seth Rogan? Who would you rather have is your customer? Brianna would rather have a custom you because it was your second. I actually interact with you. But whose customer brand is better? Is Seth Rogan's right? And why don't people go out? And they give, you know, famous celebrities, clothes and where they wearing things like that? Because if you can attach to you, if you can stand on their brand right, usually let them. That's question. Who would you rather have? Oprah Winfrey has your client or me? Well, if we can say that Oprah uses something right, then chances are you'll get more clients that way. Why do we have companies? Logo's on our websites we've done business with? Well, I think if they do business with this company, then they're probably good enough to do business with me. That's really critical. Now here comes the tough part. Let's say that you want to fire a customer. We don't like to do it. We'll talk later about firing employees. But you know, when should you do it? Here are some things when you're no longer helping them. This is hard. Just because you're taking someone's money doesn't mean you're really helping them. Eventually, they're not gonna use you anymore if you're not helping them in other areas. The customer Is this regarding your advice? Why would you wanna work with someone who doesn't take her advice? The customers not willing to pay a price so you can make money on it. Any customer that doesn't want you to make a profit in what you're doing. And I know this happens with a lot of freelance people. If they're gonna beat you down. So far, that you can't make any money. That's not a customer you want. First of all, you've got to make money so you can do a great job for then, and any customer who is really worth anything is gonna realize that you have to make a profit at that. Another one is the customers asked you something illegal or immoral. Somewhere along line, that's really going to come back and to really bite you. Or the customer has inappropriately behaved to you or one of your employees. Because if they do and you let that go on, you're really gonna hurt morale. So how do you actually do it? First of all, if you have access to legal advice or HR advice, you should do that. And by the way, if you don't have a lawyer or a specific HR person, you confined that advice in the Web. Even if you pay per incident, the second thing there was revisit the economic value off that customer. You have to know. Let's not be stupid about this. We've got to know how much profit money we're gonna lose, and that's really going to dictate what our courses because I don't want to be. I want to do business with people I want to do business with, but I don't wanna be stupid about it. Right. So I want to do it over time. You If you want to keep them, try to meet with them and set new boundaries. How you relate ship has to change. Say, I've really got to do this or I can't do business with you. And I'm gonna send you to our largest competitor. Yes, Arena. Shane. Sorry. Um, so in our in our business, you know, customers walk in the door and they choose to purchase something. How can I fire a customer who willfully wants to come in and spend money? Okay, let me give you an example. Let's say a customer comes in. They buy something next day, they bring it back. They buy something else. A week later, they bring it back. Week after that, they buy something, they bring it back, they bring it back, they bring it back. Right. You wouldn't want that as your customer. Right. Second thing is, what if someone comes in your store and just acts out? And if anybody else is in that store, it kind of dissuades them from buying anything in any kind of business, there's always that line. That's a problem problem client. In the hospitality industry, there usually is a list of that hotel people that can't stay there because any time they stay there, they always say, I had a lousy time and I want it for free. So it's really gonna depend on the situation. Does that really make sense? But we all have people in our in our companies where either there really NYSE problems, we think, or they're really causing something bad from around and again. I don't believe in just saying, OK, I'm done. Let's fire them I think you have to think through what the plan is really going to be. You have to create a plan to terminate them. So let's go the next light. How do you really do that? Well, first of all, I'm a really big believer that you shouldn't have any personal discussion about former customers. Let's not have any here say, let's not make Goss up just kind of and I know it's fun, but it's really again, especially the social media world. It's gonna come back to bite you identify other people that can never replace that prospect. Because, let me tell you, there is an unlimited amount of folks that actually can do business with you in each of your businesses. In the music business, in the PR business, in the yoga business financial, there is literally on unlimited number of customers out there that can do business with you. Why not do business with people that are profitable and you actually enjoy doing business with? That's really important. So you identify what those prospects are, Begin the phase of firing the customer, right, show them that they have other options. Here's the hard part. Ah, lot of customers actually aren't gonna wanna leave right, And that's a little bit of a problem. So I always tell him how you know, we've done as much as we can for you. You're probably gonna be happier with somebody else. And if you're lucky, they sign up with one of your competitors and they tie them down right. Then set an internal date of termination. Don't announce saying Listen, as of January 1st, I'm not going to miss it anymore, said a soft eight inside, where you're trying really to get rid of them. In the end, you actually can't get rid of everybody, right? You've gotta love the one you're with. Now, this is a picture of me, believe or not with my wife. This is Ah, rehearsal dinner right before we got married. Now, I know you're a little uncomfortable seeing the picture, but I will let you know that the next day I did get rid of the glasses and the mustache. So it's a little bit. It's a little bit better. So let me just recap the kinds of things in this air and again at the end of each section were talking about really the one thing, the one change we want to make. So, in this section, we talked about 10 secrets of get your email open. We talked about selling on value, not on price. And then we discussed how to let go a customer. So I want you to each think of one change that you're going to make it. Well, I'm gonna ask each of you what? That one changes in these three different areas. Who would like to start? What's one changes like to make either in how you communicate with customers about doing business with customers really want or really building relationships and don't set try to sell on features. Yeah, Karen, I think that for me. I want to figure out MAWR how to communicate with my customers and opening up a little bit broader when we named it instead of making it yoga stream, we made it Yogi Stream because we wanted to make it about the person, not about Obviously. It's about yoga, but the Yogi Stream part of it is we wanted to identify with the people and let them know that. So I'm sitting here thinking of just different ways where we can try to engage our customer base and start building that relationship in deepening that relationship. What's one thought you had? I'm gonna try this because we don't have to try things, and sometimes it's gonna fail. But we got to try it. A couple of different things, I thought of one in particular is just reach out and say, What would you like to see on Yogi Stream and get feedback from them? We had a little proposition that we sent out to people. What kind of yoga are you looking for and what we really enjoyed the most is we got back, um, yoga, yoga. We literally put yoga yoga on on the form when we asked them so really trying to figure out what they would like to see and then expanding it a little bit more with How was this? Is this what she wanted to see and just take their feedback and build from there? It's really fascinating, because if you survey your customer, you say, What do you need? And then you offer that they buy it? I mean, the one. The reason that we're spending so much time on the first day talking about sales and marketing is because when I ask people where they're stuck where they really need to jump start their business, people always say, How do we keep the customer have? And how do I find new customers? So it's really the number one area. That's that's really good example. Who else has something that they were? They're gonna change. And again, we're talking about one thing, cause if you try to do, you don't strive for that minimal achievement. You got a little bit of a problem. Yeah, Go ahead. Shana, Thank you. Just reorganization of my time. Like you said, if you set aside a particular time, I'm gonna make an appointment with myself to do marketing at this time of day on this particular day and nothing else can interrupt me, which at times can be difficult because you get particular people come in customers who want to just deal with you. But if you set that time of day aside, even if it's an hour before we open the store, that could be incredible. Useful that I'm not distracted by it the rest of the day and not feel like, Oh, I got to get that done. But it also gives me that time to just sit and digest it and plan it out and make it work for us. And tomorrow went about productivity. If you accomplish the things you really want accomplish early in the day and the rest of days a bonus, no matter what happens, did you want to add something, Rina, About change that you're gonna make Yeah, one of the things that I really took from you. Uh, this segment was separating out by two different audiences and being able to direct certain types of content for those small business owners to be able to nurture them and support them and where they want to take their business as well. Us, my audience that you just love absorbing the same kind of content that I love. Teoh, absorb. And you know, the people stories that I love to feature on my show and have that that separated so just to keep it organized, makes low, says You know you probably have one. The biggest challenge we have is who do you really want to do business with and who you don't want to do business with? Right? Because you have said that pretty early on, because many times it could be a long lasting relationship and you get stuck with a customer that you really don't do business with. I think we had dealt with it in past year, um, drawing the boundary and also just being truthful about asking questions that really what they're happy about, what they're not happy about in actually resolving in a peaceful manner and one of things that Michael Port talks about. I know he did it creativelive than his big thing is, you got to set up a red velvet rope policy right where you're gonna side who you're going to do business with and who you are going to do business with. So well, we now have a very special guest on the line. We have Daphna Michaelson calling it from Denver. There she is. How are you doing? I'm great, Howard. You so so Daphna. Tell us a little about yourself before we get started. Um, well, let's see. I'm a big, very multi groupie. I don't know. Besides that, I know that you try to follow me around the country wherever I go, But tell us about your experience. One of the most fascinating things about your background doctors. You actually went to all 50 states. Tell us about that adventure first. Yeah. So, uh, I decided, You know, nobody needs a stable job when the economy is followed. So I quit my job, and I traveled to all 50 states to interview people who I felt were solving problems in the community. Onda. Actually, it wasn't people who I felt were solving problems in the community. It was more who did people out there think we're solving problems in the community and the whole mission. As I traveled around and capture video and post it to my website and blogged every single day was to show people that no matter what you look like, sounded like how much money or education that you had, you too, could solve a problem in your community and social media was an incredible tool for being able to share that message and to continue to share the stories of ordinary people solving problems and communities every single day. Now I have heard you speak many times, and one of things that, like the most, is you believe that every single small business owner where they should start is they should have a social media mission statement. And we've been talking about this in the last segment that people are very confused about social media. Tell us about the social media missions they may should have because it's an excellent place. Determine how I'm gonna use social media. Absolutely So while I have the pleasure of traveling with you bury, one of the things that we were often faced with from small business owners was I don't know what to write I don't know what to say. I don't know how to do it. And the Social media mission statement is my answer. Teoh, I have nothing to talk about. Um, and the way that we do a social media mission statement is that I ask you three simple questions, and when you answer the questions, we then formulate a statement, and that statement creates the basis of what content you're going to share. Where are your boundaries for your company? Who are you speaking with? And how do you want to communicate with them? That they are doing business with the right person and that they're getting into a relationship, not just a one way street, that we're not using social media as a megaphone? Because that's often how people think it's supposed to be used, and I get where that comes from. But Social Media is really about creating a social interaction on another platform with your potential customers and clients and your current customers and clients to create that basis of loyalty. And when you have a social media mission statement, you know what you're doing. You know what you're talking about. You know, to whom you're speaking So what I'd like you to do is with one of our studio audience here. I really want you to take them through that process, right? So who would like to figure out what their social media mission statement is? Are you smiling because we know you like to do that Share? Yes. All right. All right, so So Reed is going to do this. So ask her the question and maybe you can You can help with this because I think the way you do it is really quite magical. Well, thank you. We call it magic internally to Okay, So, Arena, um, this is gonna be a little bit of a challenge to dio speaking. Normally, I do this in a place where you can write something down. I don't know if you have access to pencil or paper. Dio. Yeah, she's gonna write it down, okay? And you have two minutes to answer each question, but I don't think we have that kind of time. I just ask you a question and you write down or just the first thought that comes to your head So I don't want you, Teoh. I don't want you dio try toe edit, curate. Whatever. Just write whatever comes to your head. And this, by the way, is how I do it with everybody. So and that's why I'm also going to write the questions so the audience members can also see it as well. Yep. The first question is, what is it that you do? Don't start writing. Here's the trick. You can tell me your title. You can tell me your job description, but that's not what I'm interested in. I'm actually interested in What is that that you actually dio when you break down the work that you do in the service that you provide? What is it that you're actually doing? So, for example, a realtor doesn't sell a house, a realtor crew, Bates. A new life creates stability, creates security and creates bonds of community. Right. What is it that you do? Go ahead, write down your answer. This is really important because we talked about this doctor in branding because many times you say, What do I do? Well, you know, I'm a banker, or I may I sell financially curious. Well, no, no, no. You help. Aziz. Milka was saying here she helped secure people's dreams, right? She also preserves people's wealth. That's really the pain that they people solved. So what would you say? This question? What is What is it that you do? I can't been right here. They have that you dio How would you answer that arena? Well, I first answered with just the title of a messenger, A storyteller and a journalist. Okay, very. Write that down. Yes. So she's ah, messenger. I don't like the smell messenger. Right, Miss, I got the mess part from Judy. Yes, Messenger messenger. Give me one more time reading since your storyteller Journalist, can you tell me more about storyteller those stories? Are you telling? Well, I started my business as an actor and a model, so I was always showcasing other characters and telling their stories and and approaching them, approaching characters through their life experiences. So as someone who is now, I have ah, television show where I feature other people. Um, I'm in. I also have a masters in psychology, so I'm always asking questions to help pull out their story and and share their message. Okay, cool. So here's question number two ready. Why do you do what you dio. And this is why I call this the Freud moment. Okay, lay on your couch. Um, this isn't to do with my mother's. Doesn't say again. Doesn't do with my mother. Doesn't a little bit. Okay, Lets go about that later and generally go generally good. So arena. So why do you do what you dio? And I want you to think back Thio, Was there a catalyst moment? Was there an experience in life? Um, was there simply riding on the bus and an ah ha moment. What? Why? Why do you do what you dio first things that come to your head don't edit. And then we talked about this with Judy Carter, right? Yeah, you say and do what you do. Well, I I've always loved. I've always loved the power of story, the power of of learning through other people's experiences. I've, um I've always loved Uh okay, stop. So stop sex. I don't know if this is this is elevator pitch language rights area. I don't care about the elevator pitch. That doesn't help you with your social media mission statement. And that's why very don't make re enter this out loud. You gotta. Right. All right. So listen, the dolphin. Don't listen to me, Right, Right. Like I need you to dig a little bit deeper. So you're really Why do you do what you dio What? You write that down. I'll talk with Dr Man. This is a really important question, Doctor. I especially think that we should be asking this to ourselves. Not just once when we started career, but as we go along, right? Why are we doing what we're doing? And I have a great story for you. Um, I can't remember. I was with you. I can't remember what city we were in. We were in America somewhere, and, um, I asked that question, and I had a gentleman stand up. And I'm always afraid of the engineers, right, Because engineers are not gonna give me much to work with. And so he stands up and he's an engineer, And I say, you know, what is it that you dio and you know, I got the whole I'm uninjured. I don't even remember language I didn't understand. And then I asked, Why do you do what you dio? Now let me give you a visual. I'm backing up a minute. This is a 40 year old, maybe 50 year old male. Um, average height size, just, you know, a guy and, um, in a room full of, I don't know. Mostly women don't know how come it turned out that way and I asked the white, You know what? Why? You do what you do? Question. And he says he had a watch when he was in third grade from his favorite auntie and the watch broke and he took apart that watch, and he put it together piece by piece. And ever since then, he's been fascinated by systems. When he finished in, drop it in the room, I said, Who wants to do business with him now? And everybody raised their hands. Why, in a minute he was not your average 50 year old businessman engineer. He was 1/ grade boy who took a part of watch and put it back together and found his passion and then chose to live it. You know, that's when you answer that question with your authentic truth. When you really bring, get into deep about why you do what you dio and don't let all of the elevator language that you've been taught for years and years and years filtering your head. This is not about making a sales pitch. This is your language for you. Nobody's gonna see this particular language until we boil it into that magic part, which is the social media mission statement. So how would you answer that reading now? Well, thinking back to a specific story, I remember when I was a little girl, um, I gripping a small little town up in Northern California called Forest Phil and we don't have or least when I was growing up, we don't have for cycling. We didn't have garbage. You know, people come into our house to pick up our stuff and take care of it. We would, you know, separated out and, like, take things to the dump. And I remember going to the dump with my dad and having to, like, throw trash into these heaps of just nasty, smelly nous. And I just like, this is how we're building this country. Really? You know, finding out what landfills are and discovering all these things in which we were totally disconnected from the effects that we, um every choice that we make has on the effect of what's going on on the planet. And so that's I don't know. That's what comes out for me once taken impact. Yeah. I want to make an impact in such a way that provides solutions for people to start thinking, you know, thinking locally, act globally or whoever the tagline is. But but recognizing that every choice that we make has has an effect on everything that's going on with the rest of the world. So impact on her choice. What would you write down here, Doctor? Yeah, right down that. Just write personal story. I'll remember. And, um uh, right down, trash dump right down, um, action and write down, Um, uh, share relevance, community, important stories. Okay, we know you're ready for number three. OK, Okay. So, number three is that what's in it for me as a consumer question. Right. So we've all been asked this question before, but once again, I'm gonna ask you to dig deep and go be on your standard boilerplate response to this question, if you would. So, um, what's in it for me to do business with you? What's different about my experience to do business with you now? I'm not sure. Um, Rina, tell me a little bit about how you build business. Are you seeking clients or are you seeking advertisers? What is it that your how do you how do you get paid? So what always generate revenue is is by teaching, uh, these small businesses who are wanting to make an impact how to leverage media and how to use a platform like mine. Excellent. OK, now I understand a little bit more. So you are directly speaking to potential clients. So I want you to answer the question. What's in it for me to do business with you? What's different about the experience that I'm gonna have doing business with you? And again, I don't want the boilerplate. I'm going to give you a story while you think about it and then write it down. Don't speak it out. It's It's very different when you write things down, By the way, it's a little bit more private, and your brain thinks it's not gonna have to share, even though you know you are. But anyway, eso itt's a little bit more intimate, and you can be a little bit more authentic when you're writing something down. Also for you guys who are going to do this later or at home, give yourself only two minutes to answer a question, and that forces your brain to get rid of all of the No, I don't like that or no, that's not really what I meant, and it forces you to really just push the content out. And again, we'll give you your most authentic answer. So as Arena is contemplating, what what's in it for the consumer to do business with her? What's what are they going to get out of it That's different than their relationship with somebody else? I'll tell you another favorite story from Barre and often on the road event. Um, and a An older guy got up like I'd say, solidly in his eighties, and he was a hike guide, a tour guide in the mountains, and he stood up and he said, You know what you're going to get? What's different about your experience with me is that with me, you are having an interaction with a person who went camping in these campgrounds with his grandfather, his father. I took my own son and I have taken my grandchildren to this very same creek campground. Everybody again, chills. Who wouldn't want to hire that individual to take them on a campground? Because generations of stories emanate from this gentleman. So OK, what's your answer? Okay, so not only are you going to learn how to build a media kit for your business, you're going to be ableto have that campaign to be able to take it to other platforms as well as having the ability to to use my platform as well so you can use it on on television, staffing you. Now this is this is regular business. Speak awesome and it's and it's and it's true, I'm sure, But that's not what I'm looking for. Remember, Social media is about social. I want to know about you. What? What is it about you that is going Teoh create this unique experience? Lots of people can do what you just told me, but there is something that's about you that's going to make this relationship difference so right down the way of doctrine that I usually answer that question is that I've been where you are before, right? I've got a business I've been kicked out of business. I've sold the business, so I'm you. I've had success, that failure. That's why I can help you. I'm just not some guy talking about this stuff. I've experienced everything that you have experienced and you're going to experience. That's why I can help you.

Class Description

Running your own business can easily become a game of defense instead of offense. Learn how build a profitable business and guard against the tides that overwhelm small businesses in this training course for entrepreneurs.

Barry J. Moltz will teach you processes you can put in place to build and sustain a profitable small business. You’ll get hands-on, practical advice for solving the real problems business owners face every day. Barry will cover customer acquisition, vendor and employee management, and marketing strategies (that actually work). You’ll also learn the fundamentals of small business finance and how you can reduce costs and increase profits without compromising on quality.

If you are ready to grow a team that works, build a culture that lasts, and thrill your customers every day, this is the course for you.


Jay Rodriguez

Best business course out of the bunch. Highly recommended. I like how focused on the course material he was and how well he stayed on point without straying or rambling. He provides the needed to the point info that he has put together from other sources.


I love Barry's energy. He gave so much insights. This is also a great course for anyone starting the business also. I viewed the course a few times and implementing his ideas one at a time.


Great combination of ideas and wisdom, and delivered very well. I would definitely listen to more of his courses.