And now, over to Rich Schefren for the rest of the story. This presentation is brilliant and packed full of brilliant insights. Pay very close attention.
Cliff Notes
[3:29] – How did Rich Schefren identify the problem in the market.
[3:48] – How Rich discovered his Attention Deficit Disorder.
[5:48] – Thoughts that Rich has that he brings with him when he’s doing his stuff.
[5:52] – The market is made of frustrated prospects.
[6:33] – You cannot create desire, but you can channel desire into the demand for your product.
[7:45] – Bring a new mechanism to the market.
[8:28] – Make the problems being experienced a symptom.
[9:13] – How Rich made the old solution the source of the problem.
[11:03] – You don’t have to look far to find solutions.
[11:11] – Rich recommends books to read.
[12:35] – The difference between selling an improvement and selling a new thing.
[13:50] – Reality is a lot more complex than what appears.
[16:03] – The U-diagram (Internet Business Manifesto) – a powerful illustration with you as the center, and dozens of tasks around you.
[16:48] – The real problem with overwhelming tasks is that you are an opportunity seeker and not a strategic entrepreneur.
[21:15] – Rich’s motivation for writing the Internet Business Manifesto.
[23:26] – Marketing is really about compressing and accelerating the experiences that led you to that conclusion.
[24:21] – It’s really not a question of TACTICS vs. STRATEGY, but a question of STRATEGY vs. OPPORTUNISM.
[26:41] – The manifesto was really about getting the people to see problems differently.
[28:53] – You think the problem is X, so you’re doing Y to solve it. But the real problem is Z and Y makes Z worse.
[31:24] – Look at the things that people do that they don’t like about themselves. And position those as positive characteristics.
[38:26] – They have a problem. They have desires. Where these two overlap creates the ideal buying state.
[39:39] – What do they need to know to make the product seem like a must-have desire?
[39:50] – Root cause analysis: keep asking WHY? It’s a convergence of problems to find the root cause.
[41:25] – Going backwards with the solution.
[41:32] – Sell against the sales letter: How would it be the problem?
[42:35] – There’s a way to position this product that is going to blow people’s minds.
[43:11] – How do you know when you have that idea? It’s about having lots of conversations with people.
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