Episode 318: Jay Abraham on Applying Lessons From Other Industries to a Book LaunchJul 01, 2020
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Jay Abraham is the world's highest-paid marketing consultant, a proven business leader and top executive coach in the United States.
As Founder and CEO of The Abraham Group, Inc., Jay has spent his entire career solving complex problems and fixing underperforming businesses. He has significantly increased the bottom lines of over 10,000 clients in more than 1,000 industries and over 7,200 sub-industries worldwide.
This is a man who is paid $30,000 for a day of business consulting. And I was lucky enough to not only get him to agree to come on this podcast to talk about applying lessons from other industries to a book launch but I was also able to get invaluable advice from him a few years ago that radically transformed my business (we talk about that at the very end of the episode; you definitely want to hear it).
In this episode, he doles out some of his top gems—including what to write at the beginning of every business book, how to involve influencers in your writing process and why to read the Amazon reviews of every book on your topic that's come before.
MORE ABOUT JAY:
Jay's iconic business book, Getting Everything You Can Out of All You've Got
Anna David: 00:01 So Jay, so excited that you're doing this I will say I am, the listener cannot see this, but I am holding up my favorite business book. And I am not just saying that. And it happens to be by you, Getting Everything You Can Out Of All You've Got, I would say, I will also point out that you signed it to my favorite person in the world, but if I recall correctly, you said, what do you want me to write? And I told you to write that. I think that's true.
Jay Abraham: 00:31 That's funny.
Anna David: 00:33 So, you are an icon to business people everywhere. So what I wanted to do is get your brain talking about how to successfully launch a book and what a book can do for your career. Now, this is your biggest book, correct?
Jay Abraham: 00:52 Well, if you think about trade, we actually sold about a year before that we sold 72,000 copies of a $377 book that we published that ourselves. But that was my biggest one, but it was a very serious heavy duty book from a trade book that was the biggest, we've got a couple other ones that have come out since. But that one was the one that I think for its genre really did more to help people because it had so many examples and case studies, and illustrated demonstrations of different techniques and mindsets being put to action. That it was actually, Anna, impossible for anybody who really wanted a benefit or a breakthrough not to get one, if they just studied the examples.
Anna David: 01:47 Was that The Sticking Point or?
Jay Abraham: 01:50 The Sticking Point was after that. And then after that was the CEO Who Can See Around Corners. And then I created, I don't know, five other ones that we never put out. I've got one that's called, How To Get the Money For Your Great Idea and Startup and What To Do If You Can't, which we haven't done anything with. We have a collection of $2,500 said called, Super Books. We have one that's called, Your Secret Wealth, which is a $500 book. And I create them and we don't do much with them, but they're fun to force me to articulate my body of work. But the one you're holding is a wonderful book. It's got some outdatedness on the internet part, but most everything else is universal. It's evergreen, it's enduring, and it's inspiring. And I can say that because I had a great ghost writer that was more articulate than I, but it's a wonderful book.
Anna David: 02:52 I was rereading it like over the last couple of days, and it was like, rest in peace, Neiman Marcus, because you give this great example of the customer service at Neiman Marcus. And here they just, in this current crisis, had to go away. Now, talk to me about this, this selling a book for $500 or $300. Tell me how that works.
Jay Abraham: 03:14 Well, it works well if you have the brand and the in the background to justify it. So when we sold the $377 book, and we sold about $28 million worth, and I'm not saying it to be arrogant, it's clinical, it bought my beach house for me in one year, I had come from basically making millions and millions of dollars for prominent clients. I was doing very expensive seminars back then, and we sold it. It's been more than 10, 15 years now, probably, but we sold it for a fraction of the $50,000 I was charging per day back then for private consulting. Had a great story. And I had great success stories to my name that were household words. So the ability to tell the story about the person, tell them the story about what the book possessed, which was a distillation of my finest body of work, the summary of a $50,000 seminar, the quintessence of a $50,000 private consultation all rolled into one with very clear cut instructions on how to apply everything.
04:39 And it was a great story that was told. And then there was a story on top of the story that the person that compiled it was a former client that we made, we generated $2 billion for, and he took all my methodology and behind my back did this, and we were going to sue each other. But when I saw the work he did, instead, I gave him a royalty and took the book over and promoted it. So it had about three wonderful layers of story on top of it. And it was very, very unique. And my brand at the time, very frankly, was singularly, probably in the entrepreneurial mecca, that the biggest there was justifiable. You know, I was Tony Robbins was touting me in entrepreneur magazine, Success Magazine, Forbes. I mean, everybody was, so I had all, you know, you talk about a perfect storm. It was a perfect positive storm, but I mean, that's a, that's an anomaly. You might ask me a more relevant question for everybody and I'll try to torque down my answers and make it more actionable for anybody.
Anna David: 05:51 But first I want to know, can people still get that book?
Jay Abraham: 05:55 We're thinking about rereleasing it. I saw somebody selling an old copy for a hundred dollars on Amazon a couple of months ago. I think it's still out there, but we're going to probably rerelease it very, very modestly. I think that Russell Brunson reprinted it with my permission and gave 600 to his top mastermind group a couple of years ago. And there might be a few at the office, but I haven't been motivated. I mean, I was very big in my own and in also guiding clients for many, many years and selling information, high priced expertise, seminars, books, manuals, and I just sort of burned. So I've got tons of stuff we don't sell. We just sort of covet in a possessive way. But I think we'll probably put it out again because it's really cool book. I'll make sure you get a copy, Brian, find one, or at least get her the digital version and you can have it. And I'll send you a digital signature, an inscription, okay.
Anna David: 07:03 Saying you're still my favorite person in the world. Now, okay. So let's talk about advice that can be applied to any person releasing a book. So, you know, like what you did with the book that I have with me right now, how did you launch it? What were your plans? What worked, what didn't work?
Jay Abraham: 07:26 Well, I'll tell you what didn't work, but it still, it's a great coup I launched, I sold it in the era when you got big advances from publishers, which is not what exists now and should not be the reason most of the people listening, is this audio, not video?
Anna David: 07:48 It's audio. Yeah.
Jay Abraham: 07:49 So most people listening should not, you're not going to get a million dollar advance unless you're very, very rare. I did something that I thought was so cool. I got a very big six figure advance, but I also got the publisher to give me 20,000 copies of the book as part of my compensation. So I thought that was cool, but what I found we took, I spent I don't know what I spent. I sent 5,000 copies out to influencers. I put the other 15,000 in storage and I ended up paying a fortune because I never figured out what else to do with it after that. But we basically would go to all kinds of influencers and the deal would be the same way I got. Maybe I should tell you how we got the first book so popular. Cause I had 80 endorsers of the $377 book. This took me a long time, but it might be an interesting story. So I got somebody that I had helped back then. It was Nightingale-Conant who at the time was the largest publisher of audio books that were nonfiction. It published every business, every sales, every skillset author out there, spiritual person.
09:13 And I got them to send a copy of the book. I underwrote it to every one of their key authors with a letter saying that I wanted to buy that person two hours of my time. And we denominated what that was worth, which back then I was getting $50,000 a day when I did a day. So whatever one eighth of 50 is times two, is $12,000. And that Jay will treat it like you paid for it at the end of that period, if you are in press beyond imagination because of what he shared and you've perused the book, you would love only, anything he shares is yours to use freely, but he'd love you to give him an endorsement. We did it to about a hundred people and I was fortunate. It took me a long time. It took me two full months of investment, but we got 80 of the top people in the whole world to endorse me. And that's how we were able to sell $28 million. I think what I did is probably not as relevant as what we would teach people today to do. And if I can respectfully, Ann, alter the question, I think your question might be better served your listeners if you said, Jay, what would you recommend somebody contemplating writing a book or writing a book needs to know mentally strategically position wise to make that book the greatest catalytic career or income expander possible? Cause I think that would be a pretty interesting question.
Anna David: 10:54 I love it. Please answer that question.
Jay Abraham: 10:56 Well, the first thing is you got to be able to preemptively denominate ideas or a positioning or a proprietary way of looking at whatever your skillset is in a way that is unique and not just another [inaudible]. Ways to do it are easy. First of all, most people do not value the implication of their expertise. They don't look and say, they say, Hey, I help people fix their technology, or I help people get better funnels on Facebook or I help people you know, create a better financial retirement, or wealth building strategy. What they don't do is denominate and quantify the implication. And I would always start out with anybody I ever helped saying, okay, let's look at the impact of what you've done in both the lives of your clients, as well as compared to the norm. And oftentimes there is no norm, so you get preemption right away. But if you say, okay, the average client I've served, we have either quadrupled their wealth, or we have doubled their funnel conversions, or we have whatever it is.
12:27 Number one, then you take norm if there is a norm. And if there is no norm, you can ask a bunch of people and say our research, I make this right in the beginning of the book and make it really the coolest part of the book. Oh, by the way, I will tell you one thing we did do in our book that sold it, that I think everybody should do, but I'll make that in a minute. I think you want to start the book with a positioning. So people know the payoff and it's not just warm and fuzzy. You can say I wrote this book because we realized that our ideas, advice, strategies, methodology, support was out producing the wealth creating capability of our contemporaries by as much as 250% with one half the risk. And a 50% reduction in timeline. It made us feel like we were deserving people, good deserving people trying to create more wealth by not getting this knowledge to you. It certainly is our hope that by studying the lessons or the methodology or the strategy that I share freely and openly, and hopefully clearly, and actionably in this book, you will be able to transform your economic future.
14:02 Perhaps as, and when that happens, you might wish to contact our offices and explore us even helping you multiply that or refer people. But that is not the primary driver, the primary driver of me writing this and you reading it should be that your wealth creation is enhanced above and beyond the maddening crowd above and beyond the, you know, the normal, something like that Anna.
Anna David: 14:33 That's amazing. I have a book coming out July 15th and I just took notes. Cause I'm like, I could get it reprinted with that in the beginning.
Jay Abraham: 14:39 Well, I always do that for people. And then I take and turn intangible to tangible. I talk about why you want to, what I know. You want to learn what I know, because I know how to take whatever you're doing, wherever you're doing it. However you're doing it. The market you're doing it to, and the results you're getting, and multiply them by 50%, a hundred percent, in some categories, orders of magnitude with less investment risk or time. And because you should always want to operate in the exponential zone, in the optimal zone, you need to learn how to make your time, effort, opportunity, investment, pay the greatest current and future yield dividend you can. And that's what this book is all about. It's taking whatever you're doing and multiplying what it does for you. In the case of me, it's taking your business instead of you having to work harder and harder for it, reversing it and making the business work harder and harder for you. It's making that business, not just an income generator, but a wealth creator, an asset through the same effort or less the same time or less. And you set up a whole different reference frame that is in comparable. If that makes sense.
Anna David: 16:22 Yeah, that's amazing. So what else do you do? You put that at the beginning of your book, what are some other things?
Jay Abraham: 16:29 One of the things that we always did, and I'll tell you this story, because it does go to how we sold the first book. When you sell a book to a trade publisher in the past, when you're trying to get a big advance, you give them an executive summary of the book, and it's basically a distillation of the big overview of the book. And then it's what every chapter will be all about. And it's a sample chapter. And we did that and we purposely front end loaded the best stories and the best examples and the best case studies into every summarized chapter example. And it was compelling enough that we got many people to offer. And I told you got a great, I got a great, I thought package. I had to figure, I still have 500 books sitting, gathering dust that I'm paying for. And this is 10 years later. But when we decided to write the book, we actually took the executive summary and we put it in the very front and made that chapter one. And the publisher was a little bit peeved. He said, well, why didn't you make it new and different?
17:42 And my response was if this 25 pages or whatever it is, you read, whatever it is, it's just the first chapter, was compelling enough to get six figure advance from you, plus 20,000 books, it's probably compelling enough to get a $25 spend from somebody perusing it in the bookstore. So we tried to front end load the book, so it will really captivate. You want the first chapter to be almost an overview of the whole thing and have the best examples, stories, connectivity, and fast paced movement. So I'm hooked already, if that makes sense.
Anna David: 18:26 Yeah. And especially on Amazon where people can read the first chapter before buying.
Jay Abraham: 18:31 Yes. And you want to, I believe you want to go, if you can, you want to create proprietary phrases for that, which may be very generic. You want to lay claim to certain things and you want to articulate them in unique ways that give you a proprietary hold on those phrases. But what you want to be able to do is two things you want to share with people, perspectives on your skillset that no one else has in ways, no one else has. And while you're doing it, you don't want it to be abstract. You want to constantly share with them what the implication of that knowledge means. A good example is I helped Damon John's co-author, when he wrote the Power of Broke. It was very, it was very cool, but I helped fix. And I think he would acknowledge, this is not me talking out of school. And it became a very good, best seller, but I helped him fix a couple of, I thought gaps. The first one was the opening was very, in my opinion, originally rudderless.
19:45 I wanted it to be right out of the gate. Hey, we created this for this. Here's what we're trying to do. Here's what you should get out of it. Here's what you will be transformed and redefined to do when you're done with it. Then after every chapter we summarized at the bottom, the key takeaways. So they didn't have to figure out what they just learned and what the implication was. And then at the end, we went right back and reviewed everything they had learned in the implication and put it all together and help them see what to do first, second, and third, so that they were at a full circle.
Anna David: 20:23 Where did you put that information that you put all together as a separate avenue?
Jay Abraham: 20:28 No, no, no. So we changed the first chapter, right? And it was the positioning of why, what, how, and, and, and the implication, then every chapter we summarized the five or six key elements into just bullets and talking points at the end in a little Johnson box. Then we had an added, a last chapter was, and I had, I think it was called, if you have his book there, I think it was called Putting it All Together or something that basically keynoted and conveyed. Now we're going to take it all And put it into action.
Anna David: 21:06 Well, I, that's amazing. I also have now having new ideas for what I'm going to do with my upcoming book. Okay. So I wanted to tell you, in terms of coining phrases, my new book is called a bizoir. That is the genre I have coined because it's a combination memoir and business book. It's a proprietary phrase. I thought you'd like it.
Jay Abraham: 21:30 Well, it is good. I liked that a lot. It's very cool. I like it.
Anna David: 21:33 Yeah. I mean, and the rationale is that I loved reading memoirs, but there wasn't, there were no takeaways that I could apply to my life. And I love business books. Yeah.
Jay Abraham: 21:42 And again, but if you, if you don't establish that in the beginning and then throughout say, now I'm hoping you're loving the story, but even more importantly, I'm expecting you to be able to grasp the implication, the lesson and the action message that is the essence. But just in case you don't, let me share a little summary here.
Anna David: 22:15 Okay. Okay. I'm doing it. And if listeners, you're hearing mad typing while Jay's talking, it's because I need to put this in today into my book. One thing that I remember you talking about at Traffic and Conversion, I think it was three years ago at a party where you had to talk at a party of hundreds and hundreds of people, not an easy challenge. And you talked about how the best thing, and you weren't actually talking specifically for others, you were talking about for entrepreneurs, go to books that are written about your topic and look at the negative Amazon reviews. Can you talk about that?
Jay Abraham: 22:55 Sure. But there's more to it than that. So with total respect, I think if I give you the big idea and all the variations of it, it will spawn a lot of wonderful, and more elevated successes for everybody that listens. So many years ago, I came up with a concept that has very many variations or permutations. I call it the amazon.com school of, then you can fill in the blank, marketing research, business, competitive success, whatever you want to call it. The essence is this. If you take the category of business or of anything you're in, if you're talking about a book and then you go to Amazon and you take every category that is similar related, a example of viewer in fitness, you could take fitness, weight, loss, exercise, diets nutrients. And you, first of all, look for three years, this year, and two years back, the 20 or 25 bestsellers. And you identify the titles and the subtitles, and you strip them out. You should collect those because many books sell very frankly better because of the titles and the promise than they do the content.
24:25 Then you go inside and you strip out all the chapter titles, because oftentimes those chapter titles, if they're well concede equally as stimulate the reader, then you go to Amazon reviews, and I believe they are zero to five. Now they used to be one to 10 and you look at all the zeros and all the fives. And the reason you do is when people are passionate, happy, passionate, or unhappy passionate, you will find that their subconscious overrides their conscious and very beautifully, eloquently, dimensionally, succinctly, but powerfully, their subconscious allows them to express their joy or disappointment in outrageously articulate words. You know, some will use vulgarity, but if you cut that out. So when people are unhappy, because they did not get what they expected, or it was a let down, they will express that fact and the reason why, and what it was anticipated to be and what it wasn't. When they got over-delivered, they will express that. So if you go through a bunch of books on a bunch of related subjects and you strip out headline, sub headline, chapter titles, then you scrape and aggregate left and right. Left is all the negative, right is all the positive. And then I'll take it a couple of levels deeper. And then what you do is you go to any author in the categories site, you look at reviews, then you look at reviews sites on the macro topic, and you do the same.
26:17 Now you possess a resource that is priceless. You have now control of the subconscious mind of the target audience. You know, how to express in words, phrases, and language patterns that which no one else has ever shared in copy that penetrates through all the resistors, right past the conscious mind and right to the core quintessence, the catacomb of receptivity. So you can express in your marketing, in your copy, in your book, what they want and what they don't want and why. And it allows you to be so resonant. You can resonate with people. One of the keys to one of the many distinctions that I created earlier in my life, which is preeminence, the strategy of preeminence Anna, is the ability to put into words, thoughts, feelings, hopes, dreams, fears, aspirations, graphic, imagery, that people are striving to either get closer to or away from, but have never, ever put into words, because if you are the first person who can articulate that, their subconscious goes, he or she really understands me. That's really what I want. That's really what I don't want. Wow. And buy in is automatic. So I don't know if that helps answer your question.
Anna David: 27:57 Yeah, that's fantastic. Another idea that I've heard you talk about a lot is, and it's in How to use Everything You've Got, this idea of applying the principles of one business to another business and how that can just make you exponentially grow. What are some businesses that could be applied to the publishing business and specifically to book launches?
Jay Abraham: 28:28 Jesus, I mean, my work has been in over a thousand industries. And so I created years ago, something called funnel vision versus tunnel vision. And it's taking all kinds of elements from other industries and then basically combining them together into hybrids and then applying them to applications or industries where they've never been known. So you know, one of the things that you could do, if you are trying to get a book established in the mind of a certain target audience is you could identify who already has that audiences trust and direct access, go to that person, company, influencer, and ask them if you underwrite it, if they will buy a copy of the book for their, you know, whatever they are, wherever you're trying to reach. And if they will send a corresponding letter that you will ride, that they will have editorial approval on.
29:36 And if you want to take it to an even more sublime, if they will invite the people, once they have perused the book to participate in a high level online briefing, which I think is a lot better than a zoom webinar, I think that phrase is pretty trite. And then follow up one of the things, by the way, I just a quick thing we've done very successfully. When someone is writing a book it's normally not a one week or one month process, is it Anna?
Anna David: 30:15 No, it's definitely not.
Jay Abraham: 30:17 And so most people don't see that there's a huge opportunity that you can gain in the process of writing it. And it's pretty, pretty cool. And I always dealt in the geometry of a business where you can get many times more leverage. So as you are writing a book, you normally have an overriding outline. And then you start with presumably chapter one, two, three, or section one, two, three. Is that correct?
Anna David: 30:45 Sure, yup.
Jay Abraham: 30:45 Okay. So what I have people do when they're trying to write a book, if they possess meaningful expertise or superior knowledge, is we target a number of key influencers that we would hopefully later want to monetize, but we write them and tell them that we are in the process of writing what we hope will be a cutting edge book that will address such and such a topic from a slant and a perspective, very different and will open up vistas of new opportunity or application. But we're not sure. And it's important to us because this was our life work, and we don't want to underserve the recipient buyer when it's finally out. And we also don't want our subjective perspectives to be the only influence in the final creation of the content in the manuscript.
31:49 So if they would be willing, we asked them if we can send them every month on average one new chapter, as we release it for them to review and critique back. And if you think about it, you're getting, let's say the average book has 12 or 14 chapters instead of sending a book that they may or may not read. If you send them a chapter a month and then the final book with an inscription, thanking them for all their input. Now you've had 13 to 15 different interactions with them.
Anna David: 32:25 And they're emotionally invested in the outcome because they have proprietary.
Jay Abraham: 32:29 And they give you perspective. And that perspective, if you are open-minded is constructive critique, that'll make the book better and better. And at a certain point they're so invested, they're probably, not all of them, but if you sell, if you chose a thousand people to receive it, and the great news is you send it out digitally in the beginning. Sending a digital book is probably a waste sending 20 pages of a digital probably will get read if you do it right. And so if you do it correctly, some of these what you'd call critiquers will also turn into endorsers. So yeah, it's a great strategic way to really get many times more value than the book itself.
Anna David: 33:26 I love that. I love that. Another thing you've talked about that really stuck in my mind in Rachel Bell's podcast, I think it's called something with Ray Ray. You were her first episode, you talked about a story. You told a story about two different business, people who sold diamonds. Will you tell that story?
Jay Abraham: 33:50 It's a long one, but I will. If you want to hear it.
Anna David: 33:54 Well condensed version, maybe.
Jay Abraham: 33:56 All right. Well, it's a personification of understanding the difference between being tactical and being strategic. Cause most people are very tactical in everything they do and the way they look at every business endeavor that they, that they embrace. So it's a true story. I have. One is deceased. Now, two friends who both were interested in getting involved in simulated diamonds, cubic zirconium, when it first came out. One was a brilliant copywriter and, but he was tactical. One was a brilliant strategist and he was an okay copywriter. Copywriter, super guy was the first one to go into it. He wrote a full page ad and created a company that he called the Beverly Hills Diamond Company. And he gave a proprietary name to his one carat loose cubic zirconium. And he called it the Beverly Hills Diamond. And he sold it for $39 in a very, very, very powerful, full page ad that he ran in the Los Angeles times one weekend.
35:08 And that ad cost him $25,000. And as I recall, he brought in about 45,000 and when all the dust settled, he made about 10, but 10 wasn't enough to excite him. And he stopped right then, he fulfilled, but he stopped. Friend two watched it. And friend two is not as good a copywriter nor was he as good a wordsmith, but he a brilliant strategist. So he did his version of a full page ad. He called his company van [inaudible], which was a take on van Clef and Carpels and Tiffany's he created the van plis diamond, same thing, a loose one carrot cubic zirconium. That was $39. When friend one, who was the good advertising writer, but the tactician would send his loose stone out. He just threw it into a crappy little corrugated little cardboard box and send it out UPS with nothing in it. Friend two did something very different. Oh, by the way, friend two spent 25 grand. And instead of getting 45, he barely got, I think he got 35. And he lost about $4,000. Friend one made 10 quit, friend two lost four, but here's what he did.
36:39 He was strategic, when friend one sent product out, it was just in a ugly little box, no commentary, that's it. Friend two sent a very beautiful box inside a very nice envelope, inside the box was a velvet jewelers bag, that inside was this loose stone. And there contained two very interesting documents. The first document was a letter from friend one, or two, sorry, who was the CEO of a company. And it started by acknowledging and thanking the recipient, the buyer for having had blind faith to take a chance and buy this loose one carat stone. It also forewarned the buyer that before that, it acknowledged this, it said before you take the stone out of the velvet jewelers case, I should tell you, you are going to be amazed at how much more fiery, brilliant electrified, and sparkly it is. And it's going to be beyond your expectation by orders of magnitude.
37:59 But then it said, however, you might be a little bit taken because the stone might seem smaller than you expect. When people see it, they don't quite understand why. And I want to pre tell you it's because to get that level of almost incendiary brilliance, you have to make the stone denser. So it weighs more per space. So it's smaller than you might expect, but far more beautiful. When our clients see the beauty and the correlation of size, they almost all immediately come back to us and ask us if we have five and 10 and 20 carat loose stones that they can purchase and then take to their jeweler to set in rings and necklaces and earrings and other and pendants. And because of that, and because we observed that when they do that, their local jewelers charge them a huge premium, not necessarily overcharged, but a huge premium.
39:09 We, because we are manufacturing jewelers decided to take some of our most exquisite five, 10, 20 carat stones and preset them in 14, 18 carat settings, rings, necklaces, earrings, pendants, bracelets. And so what you will find accompanying is a catalog of beautiful [inaudible] preset jewelry with certified van plis stones in it that we are offering at prices we know because we've compared our approximately 50%, less than a reputable jeweler would charge you. More importantly, because you have shown blind faith. We want to reward you. So if you would like to exchange your loose stone for something larger and set, we will give you double credit of what you've paid. And enclosed is a prepaid return envelope with an order form. And also finally, we will not consider this purchase complete and binding on your part until you've owned, whatever jewelry you select from the catalog above. And have had at least 60 days to wear it.
40:34 And unless you get raving complements from your friends, from people on the street, at restaurants, at work, and if you take it to a jeweler to ask him or her to replace it for another friend, you don't get a quote that's twice what we charged you. We won't even feel deserving of keeping your money. You can send it back for a refund. So that was the difference friend one, you remember of spent 25 grand generated about 45, made 10 and quit. Friend two spent 25 grand loss, 4,000. But in year one net made 25 million because he was strategic. That's the difference. Its a long story but it's an interesting story.
Anna David: 41:22 Do you think that could be applied to books and book launches, that lesson?
Jay Abraham: 41:26 Well, I mean, being strategic is always, strategy will Trump tactics, always one person gets a book and then they, you know, they send it out or they try to sell it. They don't do things that are strategic. If you basically think of all the different ways, you can make that book more valuable, you can make the message more meaningful. You can make the implications of the expertise more personal. You can make other people be advocates and give it away. Or buy it for them. You can make the book and your expertise tied into collaboration's where you can get other people who have access to communities, influencers, audiences, and you can have them do things for you that are unique that you can monetize and then share back. I mean, I can go through hours of that. Yeah, of course.
Anna David: 42:28 Well, this has been fantastic. Let's, as we wrap up, do you have three tips that you could summarize the most important tips for a book launch, a successful book launch?
Jay Abraham: 42:43 Well, a successful book line has many different meanings, in maybe your world is not the world that I normally operate in, it might be doing a regular launch where you put it out everywhere and you have 9 million people give you, you know, give you bonuses. And the like, and that's fine. But I think that that a book should be used as a very precious vehicle for establishing your superiority, your either economic or measurable value to somebody's life or business or health or whatever. You need to revere it because if you don't revere it, there's no way your audience can. You need to be able to know that the book itself without the right positioning item, which can be the cover letter or the offering, email, it's going to be a sub optimal. I could go on and on, but there's a couple.
Anna David: 43:53 Well, Jay, one final question. What have you seen books do for people's careers? You know, in your case $28 million from that one book, but for somebody who doesn't make necessarily a great revenue from the book, how have you seen books transform people's careers?
Jay Abraham: 44:11 I don't think books are intended to make a lot of revenue, unless you're a very special, you know, rarefied author. I think they are positioning to get you distinction, to get you relevance, to get you superior preemptive preeminence, to get you access to audiences, to get you extricated from the generic what I call it is the commodity sphere of people doing whatever you're doing. They are a way for you to gain collaborative access to other influencers who have markets that could benefit you. They are a front end that can get you. Clients can get you seminar. Attendees can get you coaching. Clients can get, you can use them to get a job. You can use them to get invitations to all kinds of, I am known, but I can, without all due respect, I can get if I want to go to any kind of event Anna. I mean, doesn't really matter whether it's a 25,000, whether I know them or they just know of me, I can almost always use my stature if I want to go myself. And one guest is always, you know, always extended and I've never paid. I mean, wherever I can go to anybody's mastermind, I can go to anybody's $30,000 programs. It gives you, it's like the Willy Wonka and the golden ticket.
Anna David: 45:56 I love that. And if people want to find out more about you is where's the best place to go. I mean, you're everywhere, but where's the number one.
Jay Abraham: 46:04 Yeah. Well, there's two places, depending. We have currently a website that has an enormous amount of content. We're getting, we're going to remove a lot of it because I became too generous of a contributor and people stopped buying our product because we gave too great of stuff away, but there's a lot of wonderful things on there. And it's abraham.com. And then there's another one we just started called JAYabraham.com that has a very modestly priced daily mentoring service on it. And it's got some cool things too, and a couple of really cool short course programs. So they can go either Jayabraham.com, abraham.com, or they can just look by name up online. Cause thousands of people have knocked me off and publish all my material on their sites. So it doesn't matter.
Anna David: 46:56 Yeah. Just Google entrepreneurship, and please listeners, get this book, Getting Everything You Can Out Of All You've Got. It's the it's helped me more than any business book I've ever read. And I mean that, because I've never said that to anybody else.
Jay Abraham: 47:11 I am very proud of you. You've done a great job. And it sounds like you're helping a lot of deserving people gain greater stature, prosperity enjoyment out of, and economic fulfillment of their careers. And that's wonderful.
Anna David: 47:32 And so, by the way, since we were talking about this before I was recording, thank you for that. Jay was so instrumental. So about a year and a half ago, I really hustled to try to get on his podcast. And I sat there with him and he said, what is your business? And I told him, and he said, with all due respect, you don't really have a business because I didn't then. And he was just so instrumental, you know, and basically gave me, you know, thousands of dollars worth of free advice in, you know, half an hour. And my business is now generating half a million dollars a year. And so that is the kind of value he provides. So thank you so much.
Jay Abraham: 48:13 You're very welcome. And thank you for the acknowledgement, but it's only possible if you do the work and you obviously did the work. I have to be on another client call, but I hope this had value for you and your audience.
Anna David: 48:23 It was amazing. Thank you so, so, so much and listeners, I hope you got everything out of that and more.
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