1. Introduction

• “Given a 10 percent chance of a 100 times payoff, you should take that bet every time. But you're still going to be wrong nine times out of ten.” — Bezos
• This book is about making profitable offers
• A Grand Slam Offer in the business world, can score you a thousand-fold payoff and result in a world where you never need to work again. It would be like connecting with the ball so well during one single at bat that you automatically win every World Series for the next hundred years

2. Grand Slam Offers

• “Make people an offer so good they would feel stupid saying no.”
• The only way to facilitate that exchange, to transact, to literally carry out business as a business is by making the prospect an offer.
• The only way to conduct business is through a value exchange, a trade of dollars for value. The offer is what initiates this trade. It is what begins the process of getting customers and making money. It is the first thing any new customer will interact with in your business.
• The Two Main Problems Most Entrepreneurs Face and How This Book Solves Them:

1. Not enough clients
2. Not enough cash (excess profit at the end of the month)

Section 2: Pricing

3. Pricing: The commodity Problem

• “Grow or die”

• How do you grow? R = r*Q

• Business Terms

  • Lifetime Value: Gross Profit over the lifetime of a customer or the avg # of purchases over their lifetime * gross profit.
  • Value-driven vs Price driven purchases:
    • Commoditized = Price Driven purchases
      • Products available from many places
    • Differentiated = Value-driven purchases
      • unique

• Grand Slam Offer: An offer that can not be compared to any other product in the market.

  • Attractive promotion
  • Unmatched value proposition
  • Premium Price
  • unbeatable payment terms (guarantee)

  Thus “Selling in a vacuum.”

4. Pricing: Finding The Right Market

• “If you were going to open a hotdog stand, and you could only have one advantage over your competitors . . . which would it be . . . ?”
  • “A starving crowd.”
• “If there is a ton of demand for a solution, you can be mediocre at business, have a terrible offer, and have no ability to persuade people, and you can still make money.”