
Build a Relationship with your Businesses Herd
by Mal Emery
Send the bill to the herd and try and figure out how to spend more money. The herd is like that and that’s what you are, you are my herd. You’ve landed on planet prosperity, crash landed in some cases and you become part of the herd. Herd implies that we put a fence around you, we nurture you, we feed you and in response to that process you feed us in some way, shape or form. So basically you send the bill to the herd. Your herd (list) is your most valuable asset.
You have $100,000 folks what would you like to do with it? If you know the answer don’t answer it. You’ve got $100,000 you can spend on your business, what should you do with it? Well what you should do is build your herd. It is what I call toll position and it’s the only place you’ll own a toll gate. Who would like to own a toll gate?
It’s where you want to be and the only place you can ever own a toll gate for traditional, every day business people like you and me is a herd. Because someone will always pay to get to your herd. So it’s your herd quickly followed by your reputation with them. So how Rebellious Millionaires value a business and what we subscribe to is number 1is I will only buy a business that has a herd.
Google paid $1.65 billion for YouTube, EBay $2.6 billion for Skype and what they’ve got is the ability to get a herd. So your most valuable asset is your ability to get a herd and keep them.
Build or develop a group of customers, a herd who are repeatedly responsible to your message or messages. Here are the questions you need to ask yourself based on the first introductory video:
How much time do you devote to the herd? Here is what we know, you devote very little time to the top 20% that provide you with 80% of your income and spend most of your time chasing the C, D and E’s.
How many resources do you devote to that herd? We’re realizing and recognizing the free line is being totally moved. In other words, the need to give them more before you take has never been greater.
How much money are you willing to invest to get and build the herd? That’s the big distinction between us and the masses. We’re trying to figure out how to spend more money.
The single most important lesson I’ve learned is that you can send the bill to the herd. So if you want to go overseas and buy a car, you don’t do it. Who pays for it? The herd.
So it’s just a value exchange. So the question you need to ask yourself is how much value am I providing to the marketplace that they would choose me opposed to everybody else? As far as I know, no law has been passed that you can’t ad massive value.
How much are you willing to pay to buy a client? Find ways to invest and spend more in getting them, not spend less. And until you fully understand and embrace this strategy you’ll be severely handicapped in your business. Figure out how you can buy them.
So big mistake not having a herd and building a method for capturing them. Find a way to build the herd, every day that’s your job, followed quickly by your reputation with them.
All the value is in the customer list and this is how we value it. Your reputation with them, your marketing system and so that’s how we value a business. The herd and the marketing system and your reputation that’s what we pay for, nothing else.