321 - Philosophies That Changed My Life - A Ratio Will Appear!

1 Dec 2024 · 19 min

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Podcast Summary: The Business Acquisition Podcast with Bruce Whipple

Episode

321 - Philosophies That Changed My Life - A Ratio Will Appear!

Overview This episode focuses on the importance of understanding results through the lens of the law of averages, inspired by teachings from the late entrepreneur Jim Rohn. The host, Bruce Whipple, shares personal experiences and insights on applying these philosophies to business acquisition and growth.

Key Concepts

  • Law of Averages:
  • If you perform a task often enough, a consistent ratio of success will emerge.
  • Example: Contacting 10 people may yield 1 positive response, establishing a ratio of 1 out of 10.
  • Tracking and Improvement:
  • Monitor your results to understand what strategies are effective.
  • Continuous improvement is crucial; as you gain experience, your success rate can increase.
  • Discipline Your Disappointment:
  • It's vital to manage your reactions to setbacks and understand that not every effort will yield positive results.
  • "Isn't that interesting?" is a phrase to cope with disappointments in business.

Discussions and Insights

  • Personal Anecdote:
  • Bruce shares a case of a mentee, Jonathan, who successfully engaged one potential business seller out of 27 attempts, illustrating the law of averages in practice.
  • Jim Rohn's Teachings:
  • Emphasizes the necessity of persistence. The more you pursue opportunities, the more likely you are to find success.
  • Competing with varying success rates (e.g., 1 out of 10 vs. 9 out of 10) can lead to overall achievement if one maintains high activity levels.
  • The Sowing and Reaping Law:
  • The story of the sower highlights that:
  • Not all seeds (opportunities) will flourish; distractions and external factors will impact outcomes.
  • Persistence and continued effort will lead to favorable results eventually.
  • Good Ground vs. Bad Ground:
  • Successful outcomes (good ground) can yield different returns (30%, 60%, 100%) based on the individual and their commitment.
  • It's essential to allow people to operate at their own capacity without attempting to force outcomes.

Conclusion The episode reinforces that success in business acquisition is as much about numbers and persistence as it is about skill. By applying the law of averages, tracking results, and maintaining a disciplined approach to disappointment, individuals can navigate the challenges of business acquisition effectively. Bruce encourages listeners to adopt these philosophies to drive their success in business.

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Transcript

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0:00A mentee, Jonathan, sent me an email the other day that I want to share with you something Jim Rohn said. Jim Rohn was born 1930, died in 2009. Good entrepreneur, good marketer, and he did a piece on the philosophies that changed his life. And I'm thankful for Jonathan passing this on to me, and I want to pass it on to you. So what Jonathan wrote to me was, know you're looking for ideas for your weekly YouTube videos, also my podcast, which he didn't mention, which is what you're listening to now. And I think this could be a good one. I've been working all week to get another business owner to express an interest in selling, and I managed to bag one more late Friday afternoon.

0:49The ratio is now as follows. Three out of 27, or one out of nine, if we go down to the lowest common denominator. Now the ratio has appeared. And what Jim Rohn was saying in this is that if you do something often enough, a ratio will appear. So if I get one out of nine, I can get 10 out of 90. Personally, I'm disappointed I only got one more this week, but the numbers reflect my current ability nonetheless. Yesterday I sent an email out to the board, and I've had a wave of positive feedback this morning. The quote, if you do something often enough a ratio will appear, comes from this classic Jim Rohn video on the law of averages.

1:35And it really wasn't a video. It was on YouTube, but I'm going to include it here. It's a little long, but there's a ton of good information. Jim Rohn comes out with some really good mindset quotes in this video that I think would help everyone who is progressing through this business acquisition process. Just thought I'd share this information as the theme could be a compelling title for one of your future YouTube lessons. Well, it could be if you do something often enough, a ratio will appear, or it could be about what were the most powerful philosophies for life. Either one of those will work, so I'm going to probably include actually both of those.

2:19But I will play for you now that audio and listen to it, take notes. There are some great things in here, so thank you, Jonathan, for passing this on. If you're looking to join us in the Seller Finance Mastery program that I'm doing, we've got three weeks behind us. Those are recorded. Those are in Kajabi. and in that I certainly talk about tracking your results, understanding what's working, work on improvements, but there are some things that are what they are and this whole process certainly is a sales roller coaster ride. There are highs and there are lows, but the most important thing is to understand what you're doing, track your results, know the process, and then take action.

3:10There is no substitute for taking action. So, without further ado, I'm going to include the Jim Rohn piece, and I hope that it's helpful for you, and I'd love to hear your comments on it. Philosophies that change my life. Here's one of the big philosophies I learned in network marketing. It's called the law of averages. If you do something often enough, a ratio will appear. Key phrase, if you do something often enough, a ratio will appear. It's amazing. It's uncanny. In baseball, we call it batting average. If you talk to 10 people, one says yes. Now the ratio has begun. One out of 10. Talk to 10, get one.

3:58Here's something interesting about the law of averages. Once it starts, it tends to continue. This is colossal information. Once a ratio starts, it tends to continue. If you talk to 10 and get one, sure enough, chances are excellent. If you talk to 10 more, you'll get another one. Talk to 10 more, you'll get another one. Now you can compete. If you can only get one out of 10, you can compete, even with somebody that can get nine out of 10. If you've been here a long time, you can get nine out of 10. I just joined. I can only get one out of 10. If we have a 30-day contest, I will beat you. Say, well, how could you beat me?

4:37Here's why. during that 30 days you talk to 10 and get 9 I talked to 100 and get 10 I beat you

4:48isn't that clever this is clever stuff and I do it for two reasons I sincerely wish to win but I do it for another very sincere reason I wish for you to lose and that's noble on my part here's why it's noble. You learn more by losing than you do by winning. So I wish to give you that experience.

5:14Now, here's how I do it. Once I understand the law of averages, when I'm new, I make up in numbers what I lack in skill. I make up in numbers what I lack in skill. Now, who can do that? Anybody that's ambitious. Anybody with a little ingenuity. Anybody. Doesn't matter. Now here's one more. The law of averages can be increased. You get one out of ten, talk to ten, get another one. Talk to ten, get another one. The fourth time you talk to ten, you get two. Why would the fourth time you talk to ten, you get two instead of one? You're getting better. You're getting better. And who can get better anybody talk to ten get to talk to ten get to finally talk to ten get three I finally got up to about three now it takes more than a genius to go past like three or four but three will do if you bat 300 in baseball they pay you four million dollars a year which means you're out seven times out ten seven times out of ten out make four million dollars a year are you ready for that

6:38so this works so well now in your business just jot the phrase down you don't have to bat a thousand you don't have to bat a thousand to make big money one out of ten is fine two out of ten is terrific Three out of 10 is fabulous. Some particular incredible genius might get four out of 10, but three out of 10 is sufficient to make you rich beyond your wildest imagination. This is how I went after my friends, neighbors, and relatives when I first started recruiting. I said, look, I've got a new business, and I'm getting about three out of 10 to join. And I don't mind you, just come to the meeting and be one of the seven.

7:23Doesn't matter.

7:27You're my friend. You'll do me a favor. And so it's not important to me that you like it. It's not important to me that you join. It's certainly not important to me that you buy. It's just important to me that you listen. One of the reasons, though, I want you to hear the story is because a year from now, if I'm doing well, I don't want you to say, how come you never picked up the phone a year ago? I never got a letter. I never got a call. You call me a friend. You're making all this money. you never picked up the phone. So I don't want that to happen. So for two reasons, I want you to see what I'm doing.

7:55So the year from now, if I'm doing well, I can say, you know, I gave you the opportunity, but also just as a favor, come and be one of the seven. It doesn't matter to me if you buy or join, but I need 10 to get three. And if you're one of the three, wonderful. If If you're not, wonderful. It doesn't, it might matter to you. It might matter to you, but it doesn't matter to me. Now it matters to me because we're friends, but it doesn't matter in terms of my averages. So if you decide to get rich, just learn the law of averages, you're off and running. Now here's the second law that changed my life forever in network marketing.

8:36I learned the law of sowing and reaping. And in the law of sowing and reaping is also the story of the law of averages. Jot this down the story of the sower comes from the Bible. I'm an amateur on the Bible, but this is such a useful story Here's what the story says and take the notes because the dramas in the details The sower was ambitious evidently he was ambitious when you read the whole story you'll conclude yes This was an ambitious sower here was number two. He had excellent seed The sower who sowed the seed had excellent seed. And the excellent seed can be an excellent opportunity, an excellent product, an excellent story.

9:15So we've got an ambitious sower with excellent seed. But now here's the rest of the details of the story. For your information, for the drama of your life, so you can understand things better. Learning some of this is how I got rich by age 31. Okay. Number one, it says the sower goes out to sow the seed, but the first part of the seed falls by the wayside and the birds get it. So jot this down. The birds are going to get some of the seed. The birds are going to get some of the seed. Now you say, well, Mr. Arnold, what does that mean? Well, I invite John to come to a meeting. He said he'd be there Tuesday night.

9:55Tuesday night I show up, John isn't there. I say, John, I wonder why John didn't make it. Now I know the answer. The birds. The birds.

10:11John had this great idea of coming to the meeting to look at an opportunity. And somebody stole it. And said, you're not going to go see network marketing. And he says, well, maybe not. So have you jotted that down now? The birds are going to get some. Now when the birds get some, you've got two options. Number one is to chase birds.

10:39And say, well, let me get a hold of the person that talked him out of coming to the meeting. I'll tear him a new page. But I wouldn't do this. Here's what happens if you go chasing birds. You leave the field. If you go chasing birds now, you leave the field. Which is going to distract from your future, not add. So you can't chase birds and try to straighten this stuff out. Here's what it is. It's just one of those things And here's the best comment when things are a little disappointing. Isn't that interesting? You just you just have to say I thought sure he would be there. He promised me. He promised me But I know it was the birds and you just have to say isn't that interesting Now here's the rest of the story.

11:25It says the sower kept on sowing. See that was the secret to his success He kept on sewing and if you keep sewing you can sew more than the birds can get because there aren't enough birds If you keep sewing there are some birds, but there's not enough Because the law of averages will work for you My mentor taught me said you know mr. Oh, there's only nine or ten real nasty miserable people in the whole world Now he says they move around a lot, you know, and you're liable to

11:58you'll bump into one once in a while but when you bump into one you say there's only nine more like you I can handle that in the whole world okay now here's what else it says the sower now keeps sowing the seed now the seed falls the story says on rocky ground where the soil is shallow and the rocky ground where the soil is shallow is not of your making because you had excellent seed and you were an ambitious sower. So the rocky ground where the soil is shallow is not of your making. But here's what it says what happened. This time the little seed that falls in the ground starts to grow and the little plant starts to grow.

12:36But the first hot day it withers and dies. It does not an easy thing to watch. I finally get John started. Sure enough, three or four days later, somebody says, boo and he goes

13:00he's gone

13:03doesn't show up at the second meeting and I say I thought sure John would last a week

13:13what happened? jot this down the hot weather is going to get sun and this is not of your making Here's what you must say when that happens isn't that What can you do the answer is nothing you say well, I'm gonna try to change this I wouldn't take that class You know the Sun comes up in the East somebody says why is that I wouldn't spend much time on that Just let that happen Don't go for this why why why stuff I'm giving you the answers here the answers is in the structure and the consequences and in the deal the answer is in the deal anything beyond that is not worth studying you say well how come some just lasts a little while I wouldn't sign up for that class here's the answer some don't stay you just you just have to jot that down and when some leaves you say that's one of those that don't stay just now you know what category to put them in and you can't solve this now you can't it's like rearranging the seasons you can't fool with that all you can do is cooperate with the way things are set up I didn't set it up you say well it shouldn't be this way well when you get your own planet you can rearrange this whole deal but on this planet you're a guest you got to take it as it comes now here was the secret to the ambitious sower with good seed it said he kept on sewing now here's what he had to do to keep on sewing he had to discipline his disappointment.

14:49This is a key phrase now to use the rest of your life. You must learn to discipline your disappointment because you didn't set up the setup and some are not going to stay and that is not of your making. Now, if you made gross errors and you ran them off, see, that'd be different. Now, you're responsible for that. But if it's in the normal course of things, this is the way things are. Now, here's what it says. The sower keeps on sowing. Now, it says the seed falls on thorny ground. And somebody says, well, how much of this do you have to go through? Well, hang on. It's not the end of the story now.

15:21Now the little seed falls on thorny ground. And now the little plant starts to grow again. But as the little plant starts to grow, the thorns choke it to death. And it dies. So jot this down. The thorns are going to get some. And that's not of your making. And what are these thorns? The story even called these little thorns, little cares, little distractions, little somethings. Who knows what all they are? I say, John, we had a meeting last night. You weren't here. John says, well, I can't make every meeting. I say, why not? You're part time. He said, well, the screen door came off the hinges.

16:03And you just can't let your house fall apart. You got to take some time and fix things up. And I can hear the thorns go, uh-uh, uh-uh.

16:13He says some extra trash had piled up in the garage. You can't let mountains of trash take over. You've got to keep your trash hauled out.

16:25People who let little things cheat them out of big opportunities. People who let little things cheat them out of big opportunities. And you feel almost helpless. What could I do about that? And that's nothing. And you say, well, why is this? I'm asking you not to sign up for that class. Don't sign up for these why is this class. It's just the way it is. Like winter following fall and spring following winter. So if you got that, the thorns are going to get something. But now here's the good news. Let's read the rest of the story now quickly. The sower now what? Keeps on sowing the seed. Keeps on sharing the story.

17:08Keeps on giving an invitation. Yes, the invitation can be more powerful for me as it was one year later than it was the first The first month because now I'm saying I'm making twice as much money part-time as I'm making them a full-time job Yes, the story can be more powerful, but the law of average is still gonna work But now here's what the story said finally the seed falls on good ground Finally the seed falls on good ground now put this in parenthesis it always will if you keep sowing If you share a good idea long enough, it will fall on good people. But now here's the rest of that story. Some of the good ground did 30%.

17:50And some of the good ground did 60%. And some of the good ground did 100%. You say, well, why the difference in numbers? I wouldn't sign up for that class Come on

18:14Have I said that often enough now don't register for that class It's just the way It is now. I tried to get the 30s to do 60 Found out it was more than I could handle I Used to say I'll make them successful if it kills me. I almost died No, you can't do that Here's what you do. Let the 30s do 30 to the best of their ability and keep doing 30 Because that's how they build their lifestyle and get what they want out of life and let the 60s do 60 and let the 100s do 100s Now how can you get some to do a hundred percent? You got to go through all these experiences and you got to talk to all these people

From the publisher

Understanding your results and the law of averages is critical as Jim Rohn explains so well.

 That is what this week's podcast is about. 

Here is the link to the seller finance boot camp I mentioned. 

https://go.brucewhipple.com/sellerfinance 

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321 - Philosophies That Changed My Life - A Ratio Will Appear!The Business Acquisition Podcast with Bruce Whipple · 19 min
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