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The Playbook With David Meltzer

How I Made My First Million Dollars

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.6 • 1.9K Ratings

🗓️ 6 November 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

5 Steps To Sell Anything 1. Stimulate Interest: Stimulate interest for availability first, meaning practice getting people to respond to your calls, texts, emails, and social media messages first. Then, focus on stimulating interest for your business or services. 2. Transition the Interest: Emotionally connect with who you’re targeting. Then, transition their interest through professional collateral and a clear explanation of true value. Use the 100/20 Rule: be able to articulate that your customers will receive $100 of value for every $20 they spend. 3. Share the Vision: Share the vision of true value. You want to demonstrate the value you’ll be providing in relation to the customer’s personal values, experiential values, giving and receiving values. Make them see the win-win situation in doing business together. 4. Manage and Develop the Vision: Manage and develop a vision by providing the value that you promised. Don’t oversell, rather help them manage and develop their expectations. 5. Thrive: When you’ve done all four previous steps correctly, consistently, and persistently, you thrive. Thrivation is, in essence, getting your customers or other people outside of your organization to sell your product or service for you. This means that you make a lot of money, help a lot of people, and have a lot of fun! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

How'd you make your first million dollars?

0:01.8

Great question. So, took that job in sales and I worked 56 days a week through productive

0:08.2

hours, through this philosophy of, you know, efficiencies, effectiveness, and statistical success.

0:12.5

I worked 16 hours, active, productive, twice as efficient, and then my statistical success wasn't

0:18.8

from outselling people because, you know, how sales territories go, they had relationships.

0:23.4

They were 50 years old, but I knew one thing. They were doing an average of 10 appointments,

0:27.6

so I was going to get more people available, sell half as many of them, and do twice as much work.

0:32.8

So, I figured out productive days. I worked 10 years and nine months, and I was only, you know,

0:39.1

I made a million dollars in nine months, but I really worked. So, it was commissions, you made.

0:43.3

It was sales. Yeah, I had $80,000 salary, commission, and a great expense account.

0:47.9

Okay. And a huge territory because... What was your definition?

0:50.2

The internet, the southeast. Okay. But there were only four of us, right? And so, I flew every day,

0:55.6

I wasn't married, I was money-hungry, so I kicked everyone's butt.

0:59.5

Were you cold calling on the phone? I was cold calling on the phone, I was knocking.

1:02.4

So, what I would do, you know, because I'd stay up really late hours, organizing the next day,

1:07.2

I'd take two or three flights sometimes in a day, and after I had the one appointment with the

1:11.4

biggest law firm, I'd hustle. If it was big buildings, I'd hustle up and down the whole building,

1:16.8

cold calling. Sure. Or use your appointments as a way to then do as a hub. Yeah.

1:21.2

And I still do that. Yeah. Like I still do that on my day.

1:24.2

Anyway, I levered. I just, you know, I just flew to get a new product, and I was in one of the

1:28.4

modules on prospect. I think it was like that the secret is when you're out there on the point,

1:32.0

you want to, you know, use it as a power center and then go around, but it's also good.

...

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