Back to PodcastHuge Risk But HUGE Return Brief Overview Sometimes in business, you have to take a risk. In this episode I share the behind the scenes of a HUGE risk that our company took that produced a HUGE return. Download as an MP3 by right clicking here and choosing “save as.” RSS feed for Marketing Your Business Backstory You’ve probably heard the saying “big risks equal big rewards”. Well, in business it’s true sometimes. If you’ve ever attended a seminar or a conference and you’ve had a great experience, what you may not know is all of the logistical things that need to happen in order for the event to run smoothly. A few months ago, we held our Tribe Live Event. It was one of the peak experiences for us as a company this year. There were many months of planning that went into this event. And there were hundreds of thousands of dollars that we spent upfront. In fact, we spent close to $60,000 on just one of the evenings alone – where we surprised attendees with something special. There’s just so much investment that goes into crafting an amazing live experience. Of course, we know that there’s nothing that brings people together like a live event – so it was a risk we were willing to take. Our team worked tirelessly to put together this event. We were ramping everything up because we had more than doubled the size of the event from the previous year. And so, that meant a bigger venue, bigger screens, more production, and A LOT more money. For us, the event ended up being a MAJOR success. But it wasn’t risk-free by any means. Today, I wanted to take you on a behind the scenes journey of our Tribe Live event and provide some key insights that will help you stack the odds in your favor when it comes to taking bigger business risks. Big Ideas Invest In Your People & Create Memorable Experiences [03:20] One of the most important things that I think you or I can do in our business is to invest in our people. I believe that one of the best ways to invest in your people is by crafting memorable experiences. Be intentional about crafting experiences. I grew up with a mentor who was notoriously cheap. He would always be looking for ways to scrimp and save and reduce expenses as much a possible. And what I found was that he would always have high client turnover. I’ve since learned to do the opposite. I love playing the long game which means that I invest in my people. I want to create a great experience. I want to bring people together. I want people to bond and I want people to really connect. And when that happens, incredible relationships are formed. Why You Have to Create Belief [07:29] if people believe that they can do this, then they are much more likely to go on to do it. And the best way to create that belief is to share stories. And better yet, if you have the people in the flesh sharing the story, sharing their real world experience, it’s tremendously inspiring and it moves people to take action. Craft an Irresistible Offer AND Explain the Why [08:50] Craft an irresistible offer and explain the why behind the things that you’re offering – why they matter and how it will move them closer to their goals. I did this during one of the programs we promoted at our Tribe Live event. During my presentation I shared that the goal of the program was to take somebody who doesn’t have a membership site and not only help them launch, but help them generate at least $50,000 in revenue. I explained that this was the best place for anybody with a membership site to be because of the way the program is intentionally designed to just keep moving you forward. Before my presentation was even finished, everybody was at the back signing up. It was amazing. 70% of the people that were in the audience registered for the program. Memorable Quote “I truly believe that we are better together as a community” – Stu McLaren Resources PoweredBySage.com Rate & Review the Podcast Reviews for the podcast on iTunes and greatly appreciated! They help us build awareness for the show, which in turn allows us to bring value to more listeners like you. Not only that, but they help us better understand what matters the most to you so that we can constantly improve. If you received value from this episode, it would mean the world if you could take a moment and leave your honest rating and review. You can do that by clicking here.