Welcome to my personal book notes of The Great Formula (For Creating Maximum Profit With Minimal Effort) by the author Mark Joyner.
Let's dive in!
- Title: The Great Formula
- Subtitle: For Creating Maximum Profit With Minimal Effort
- Author: Mark Joyner
- First published: 2006
- Type: non-fiction
- Genre: marketing / sales / business success
- Online Resources: Mark Joyner on LinkedIn, official website
- My book notes on The Irresistible Offer by Mark Joyner
- Rating: 5/5
- Recommended: Yes (Hell, Yeah!)
Table Of Contents
- CHAPTER 1 - Introduction - H × 2 + O
- CHAPTER 2 - “I Get 1,000 Channels of TV and Most of It’s Crap”
- CHAPTER 3 - Chunking
- CHAPTER 4 - The Great Chunkula
- CHAPTER 5 - The Great Formula
- CHAPTER 6 - Why The Great Formula Works
- CHAPTER 7 - The Great Formula Step 1: Create The Irresistible Offer
- CHAPTER 8 - The Great Formula Step 2: Present It to a Thirsty Crowd
- CHAPTER 9 - The Great Formula Step 3: Sell Them a Second Glass
- CHAPTER 10 - In Search of the Thirsty Crowd
- Pay for Access to a Crowd
- Speculate for Access to a Crowd
- Manifest a Crowd from Thin Air
- Find Lost Crowds
- CHAPTER 11 - Second Glass Tactics
- The Upsell
- The Cross-Sell
- The Follow-Up
- The Continuity
- CHAPTER 12 - The Great Formula in History
- Holiday Inn
- Gillette Safety Razor
- Charles Atlas: “The Sand-in-the-Face Boy Becomes ‘The World’s Most Perfectly Developed Man’ ”
- Tin Lizzie
- Edmonds Baking Powder and Cookbook
- Estée Lauder
- Table for Six
- CHAPTER - Mad Scientists Using The Great Formula
- Picasso Tile Illusion - Joe Sugarman
- Two Excerpts from the Boron Letters - Gary Halbert
- Thirsty Crowd Selection and Sneaky Second Glasses - David Garfinkel
- How to Attract a $90,000 New Car - Dr. Joe Vitale
- A Personal E-mail from a Former BBDO Senior Vice President to Mark Joyner - Ben Mack
- $28,000 Lying on the Table - Russell Brunson
- The Gold Standard in Thirsty Crowds - Paul Galloway
- Former NASA Scientist Flies a Second Glass to the Moon - Harry “Hank” Johnson
- How to Masterfully Persuade Your New Clients to Swig from the Second Glass - Even Before They’ve Sipped the First... Or, Put a Better Way... How to Increase Your Sales by 200 Percent or More Instantly by Doing This One Simple Thing - Lee Benson
- Secrets from the Blogosphere: How to Get a Lifetime of Loyal Readers, Subscribers, and Customers for Free! - Jason and Skye Mangrum
- How Two Magic Words Can Almost Guarantee Your Customers Will Be Practically Begging You for a Second Glass - Yanik Silver
- Find Their Thirst Through Criteria Elicitation - Kenrick Cleveland
- Hard-Coding the Minds of Your Prospects for the Second Glass - Joshua Shafran
- You’re Getting Thirsty... Veee-rrry Thiirrr-sssstyy - Tellman Knudson
- Creating an Unending Wave of Win-Win-Win Promotions and Strategic Partnerships - Dr. Joe Rubino
- Passion and E-mail in The Great Formula - Andrew Fox
- “What’s the Secret to Completely Dominating Any Market within 180 Days?” - Brad Callen
- How to Create Your Own “Thirsty Crowd” from Scratch for Automatic Repeat Profits - Craig Perrine
- Getting Others to “Pass the Glass”: Ethics and the Success Stream - Shel Horowitz
- How to Find a Thirsty Crowd on Google - Perry Marshall
- How to Access Pent-up Demand, Create New Value, and Get the Quantum Leap Upsell: The True Story of a Million-Dollar Idea - Perry Marshall
Key Ideas / Concepts / Notes
The vast majority of new information available today is just plain rubbish.
A new way of handling information is needed.
Your brain is filled with a relatively small number of rules that use prechunking to allow you to respond to an infinite number of potential situations.
Mark Joyner's "The Great Formula"
- Step 1: Create The Irresistible Offer (TIO).
- Step 2: Present it to a Thirsty Crowd.
- Step 3: Sell them a Second Glass.
Every single thing you learn about marketing fits somewhere inside these three steps.
If you look at the greatest business successes in the history of the world, you will find that nearly every one of them follows this formula to the letter.
The Author On The Only Three Ways To Increase The Revenue Of Any Business
There are three, and only three, ways to increase the revenue of any business endeavor:
- Get your message in front of more eyeballs.
- Get more money per eyeball.
- Sell more products to your existing customers on the back end.
An Important Question
Here's what's crazy and totally irrational:
If these are the only three ways to increase the revenue of a business, why is it that most business owners spend about 95 percent of their time on things that don’t fall into those three categories?
If one were to take all of the actions performed in a business, isolate those actions that are making a profit, and increase the effectiveness of those actions at each step, profitability is the unavoidable result.
How do you do that?
Simple: You focus your efforts on The Great Formula.
The Great Formula works because it focuses your mind like a laser on what works, and forces everything else to fall by the wayside.
Mark Joyner On The Great Formula Step 1: Create The Irresistible Offer
The Irresistible Offer is an identity-building offer central to a product, service, or company where the believable return on investment is communicated so clearly and efficiently that it’s immediately apparent you’d have to be a fool to pass it up.
If you’re selling calculators, you don’t go to the beach. You find a convention of mathematicians.
The Author On The Great Formula Step 2: Present It to a Thirsty Crowd
It doesn’t matter how great your product is - if you pitch it to the wrong market you won’t even make a paltry dent in your sales goals.
If someone were walking through the desert and you were the only one selling water, would it be easy to make the sale?
Of course it would. In fact, your water wouldn’t even have to be all that good.
Now, combine that thirst with TIO, and what do you have?
Nothing short of sales fireworks, my friend.
Mark Joyner On The Four Strategies for Capturing Thirsty Crowds
- Pay for access to a crowd. (example: You find a magazine whose readership is precisely your Thirsty Crowd. You then purchase ad space in the magazine.)
- Speculate for access to a crowd. (example: “Let me put my shampoo in your salon at no cost to you. Whenever you sell a bottle, keep 50 percent and don’t pay me a dime unless you make a sale.”) - For a very low cost and minimal risk you just gained access to an extremely Thirsty Crowd.
- Manifest a crowd from thin air. (Every time you encounter potential customers, even if they don’t buy, you should always capture their contact information and get permission to send them offers in the future. Every little bit of contact you have with a potential customer is a chance to slowly build your own Thirsty Crowd.)
- Find lost crowds. (On the Internet, there are millions of discussion communities and almost certainly you’ll find some in your niche. Get yourself known there by helping out the members, and you’ll build a loyal following.)
This concludes my book notes on The Great Formula by the author Mark Joyner.
My book notes only cover small parts of the book, so if you like what you read here, consider buying the book from the author.
Thanks for reading and stay awesome,
Your Online Business Dude
PS: Start & Grow Your Very Own, Highly-Profitable, Simple & Fun, Online Affiliate Marketing Businesss, Today:
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Hi – I’m Tim, an online marketer from Germany and the founder of Online Business Dude. I run a few websites in several niches, and here I openly share what works for me when it comes to growing online businesses and running affiliate campaigns. I believe in the value-first approach and results-focused direct marketing. My specialty is profitable media buying. That means I do a lot of advertising (driving paid traffic), lead generation, and email marketing. If you have any questions, simply let me know. 🙂 Thanks!