FLETCHER: There’s a multiplier effect and see one of the biggest mistakes that business owners make is they try to learn and grow from their own experiences, no! Yeah, I get it, you want to be independent. I get it, we are all self-reliant, that’s the entrepreneur in us, we just want to do it ourselves. We want to have control. But you don’t to grow rapidly that way and I guarantee you the millennial with his little certification over here, he’s not going to be able to contribute to your life in terms of experiences and what he can add or give to you about business.

I know, I’ve got a cousin who has an MBA, he knows everything that you can read in a textbook; can’t even communicate with another human being. But what happens is is when you’ve got 10, 20, 30 people, business owners, entrepreneurs that your meeting with on a regular basis like a Porter Stansberry has in Mike and you get together, you can say, “What did you learn?” “Oh shit I never thought about that before. Oh, I had this horrible tragedy. I tried this, here are the 19 mistakes I made, it failed, I lost 10,000 bucks, I lost 20,000 bucks I lost my ass. If I were going to do it I would do it again different this way.” You have a massive referral network! – A massive referral network.

So now Porter who runs a publishing company, he’s got maybe 200 relationships with other publishers that have a customer base that could benefit from his information. He comes out with a new product or a new promotion or a new service. He calls up Mike and say, “Hey Mike, I’ve got this new product coming out, I would like to offer your group a special rate. It normally sells for 97 bucks a year, why don’t we do a discount to your audience and give it to them for 47 or 49 bucks a year, they could save 50% because of their relationship with you. Does that sound cool?” “Yeah absolutely.” He does that 200 times and now instead of reaching the X number of people in his audience, he reaches the 200 X people in all of those audience in which he has relationships with. So there is a term called and endorsed mailing, affiliate marketing and then of course just word-of-mouth. You heard it Mike, you need to go subscribe to his podcast.

There is no organized compensation or affiliate plan or referral structure, it was just, “I like this guy, go talk to him.” What if you had that in your business with 30 or 40 business owners in your marketplace?




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