1-Sentence-Summary: Getting Everything You Can Out Of All You’ve Got gives you 21 ways to beat the competition in business by working with the assets you have, but are not considering, learning to see opportunities where others see obstacles and doing things differently on purpose.
Read in: 4 minutes
Favorite quote from the author:
What if you could sit down with someone who’s worked with over 10,000 companies and has helped them make millions of dollars, have them go through 21 of their most tried and true strategies with you and decide which one to implement into your business?
Sounds like a sweet deal, doesn’t it? Well, today, you can – almost. Jay Abraham is one of the world’s most famous and successful marketers and in this book, he’s collected 21 of the best ways he’s implemented with countless companies to help them out-smart the competition and leap ahead. It’s both aimed at helping you maximize your business with the assets you have, as well as multiplying that maximum.
Here are 3 of the strategies to make your business stand out:
- Reduce your customers’ risk to zero with a Better-Than-Risk-Free guarantee.
- Build symbiotic relationships with related businesses that aren’t direct competitors.
- Make trades with other businesses that don’t involve money.
Ready for some uncommon marketing sense? Let’s learn from one of the world’s best: Mr. Jay Abraham!
Lesson 1: Reduce your customers’ risk to less than zero with a BTRF guarantee.
What’s the biggest concern that keeps you from buying anything ever? For me it’s this: How can I be sure, nay, 100% certain, that this will be worth the money I spend on it?
The obvious answer is you can’t – spending money always inherently bears some risk that your return will be negative. However, generous companies do something to battle this: they reduce the risk for their customers by taking more on themselves. For example, most retailers offer a 14 or 30-day money-back guarantee, which is a good start.
But what if you could reduce the risk your customers face even further, flip it into a benefit even? This is where Jay’s BTRF guarantee comes in: Better-Than-Risk-Free. This doesn’t just compensate customers for their loss of money by returning it in full, but goes on to make amends for the wasted time and effort they’ve put into using your product.
For example, Tim Ferriss offered a 110% money back guarantee for his supplements, some restaurants give you coupons if they deliver the food late or you have it go back and a few Arab airlines put you up in a hotel for free if your layover is longer than 8 hrs.
Knowing you can get all of your money back and more is one of the most comforting things you can do for your customers and a way to make yourself the obvious choice.
Lesson 2: Create win-win relationships with businesses that are related to yours, but not direct competitors.
Have you ever heard the term cross-selling? It means to offer complementary goods and services with products. For example, if you look at picture frames on Amazon, it’s a good bet for them to show you pictures too, along with nails and maybe even a hammer – you’re likely to need those things in combination with the frame, after all!
If you can figure out which products and services your customers buy alongside what they purchase from you, you can strategically build alliances with those businesses and have them recommend you. This works well for a couple of reasons:
- They need your service or product anyway.
- They’re a lot more likely to buy from you if someone they’ve already decided to trust with their money recommends you.
- Since your products are only related, not competitors, you won’t steal any of your partner’s business.
For example, if I buy a house through a realtor and they know what steps I have to take next, they can recommend a ton of services to me, like a landscaper to get the garden in shape, a cleaning service to get everything ready for the move, a moving truck rental company, a construction company for renovations, etc.
Of course this also works the other way around – because you can recommend your partners to your customers too!
Lesson 3: Bring back trading – it doesn’t always have to be about money!
When I was a kid, I was addicted to a game called Diablo 2. It was an action-adventure game in which you were controlling a magic character and had to fight monsters, level up, etc. To this day I think it’s one of the best games ever, but mostly because of one thing: you could trade items with other players online.
Sometimes I’d spend entire days never leaving the camp and just trying to trade better and better items, because bartering was just a lot of fun. Even though we’re not trading carrots for meat and wool for hay any longer to survive, there’s no reason trading can’t be part of your business strategy today.
Look at what goods and services you can offer to other businesses that might be valuable for them and try to make a win-win deal.
You can even make a third-party trade to get what you want. For example, if you run a pizza place, and want to make a special offer to the customers of the café next door, but the owner doesn’t like pizza, only sushi, maybe you can trade pizzas for sushi with a sushi place and give that to the café owner instead!
Look at what non-monetary goods you have to offer and then let’s bring back the magic of trading!
My personal take-aways
You’ll find at least one valuable strategy you haven’t yet tried to grow your business in this book. I’m sure of it. However, the summary on Blinkist is rather short, so I recommend you jump straight to the book with this one. If you’re in “What should I try next mode?” this is the book to read.
What else can you learn from the blinks?
- An uncommon approach to commissions that motivates your sales people far more than any other
- How Sears gets its customers to come back over and over
- What a quantum leap is and how to discover it through failure
- How Starbucks innovated without having to be too creative
- Why you should be like a pilot fish
- What Charles Dickens traded his first novel for
Who would I recommend the Getting Everything You Can Out Of All You’ve Got summary to?
The 21 year old college student, who runs a business out of his dorm room and needs new growth strategies, the 46 year old CMO, who’s in an idea drought, and anyone who loves games where you can trade.