CHAPTER 14 Creating a Business from the Ether Flashcards
What is Ruth Buczynski’s profession?
Licensed psychologist
Ruth runs the National Institute for the Clinical Application of Behavioral Medicine (NICABM.com)
What type of medicine is NICABM known for?
Mind-body-spirit medicine
How long has NICABM been an accredited provider of continuing education?
More than 20 years
What was Ruth’s primary method of training before 2001?
Live, in-person conferences
What event significantly impacted Ruth’s business in 2001?
September 11 terror attacks
What percentage of Ruth’s clients are licensed practitioners?
The majority
What did Ruth transition to after the decline in live events?
Virtual events
What is the ‘Gold’ level in Ruth’s virtual events?
Includes recordings, transcripts, and bonuses
How many virtual events does Ruth hold each year?
Three or four
What was the attendance of one of Ruth’s recent webinars?
9,000 people
What is the Business Launch Formula?
A method to build or grow an entire business using PLF concepts
What was John Gallagher’s first product launch?
A board game about edible and medicinal plants
What recurring revenue model did John Gallagher create?
Membership site LearningHerbs.com
How much does each member of John’s site pay monthly?
$12
What is Susan Garrett known for?
Being one of the best dog trainers in the world
How much did Susan make from her first ebook launch?
$27,000
What did Susan aim to achieve with her business after adopting PLF?
Help far more dogs and dog owners
What was Will Hamilton’s initial launch revenue?
$35,000
What industry does Will Hamilton work in?
Online tennis instruction
Fill in the blank: Ruth’s business transitioned from _______ to virtual events.
Live conferences
True or False: Ruth Buczynski markets primarily to the general public.
False
What was one of Ruth’s first pieces of Prelaunch Content?
The Two Things You Can Do Today for Your Brain
How did Ruth’s business perform after transitioning to virtual events?
Grew by 160 percent
What is the key benefit of the Business Launch Formula as demonstrated by John Gallagher?
Constantly delivering value to the market
What did Susan Garrett achieve apart from financial success?
A simpler, nearly travel-free lifestyle
How many national championships has Susan Garrett won?
More than 25
What is the initial launch amount that Will Hamilton started with?
$35,000
How much total revenue did Will Hamilton’s subsequent launches generate?
More than $340,000
Which professional tennis players did Will Hamilton partner with?
- Bob and Mike Bryan
- Pat Rafter
- Martina Navratilova
What is the essence of the Product Launch Formula (PLF)?
Giving first and asking for the sale later
What is the Business Launch Formula a natural extension of?
Product Launch Formula (PLF)
What should you always deliver during your launches according to Key #1?
High-Value Prelaunch Content
Why is it important to deliver real value in your Prelaunch?
It builds trust and can lead to sales when prospects are ready
What does having a warm list allow you to control?
Your destiny in business
What happens to the relationship with your list when you provide value?
It builds or detracts from the relationship
According to Key #3, what should you do during your launches?
Make More Than One Offer
What is the ‘Circle of Awesome’ in launching?
Seed Launch -> Internal Launch -> JV Launch
What is a key benefit of the Internal Launch?
It usually brings greater financial results than the Seed Launch
What is the purpose of a Relaunch?
To maintain demand and continue selling a successful offer
What does Evergreen Launch mean?
Moving new leads through their own Launch Sequence based on when they joined the list
True or False: It’s easier to sell to a previous client than to acquire a new client.
True
What is the ratio of ease in selling to a second-time buyer compared to a new client?
About 15 times easier
What strategy does the author suggest for overdelivering to clients?
Hold back on bonus items and surprise clients after the purchase
What is the ultimate goal of the Business Launch Formula?
To create a series of launches that build a business
What happens to the list and offers as each launch builds on the previous one?
- The list gets bigger
- The offers get better
- More past buyers to sell to
- Stronger JV partner support
