Hey there this is Rajat here from Startup Frat today we are going to be talking about a story and then probably a couple of stories and a few concepts about failure and about success and this is going to be a really long video so if you know if you want to watch it in full just get a glass of water and some chips handy and if you
Watch it till the end and you understand some of these concepts I can guarantee you that the learning from this video will help you increase your income by at least 50 000 rupees in the next three months if you’re able to implement them in your existing business or if you want to start a new practice a new business or something like that okay so if you’re a corporate professional uh who wants to go out and start something of their own in the near future or if you’re a
And tired of having your shop shut down every time there’s a bun there’s a riot there is co wait load lock down slow down etc you want to get out of that situation this video could be for you or if you’re a performance marketer like a mutual fund salesperson uh LIC salesperson real estate broker multi-level marketer or something like that okay now all of these um you know all of these endeavors are corporate professional certified professional small business
Owner performance marketer even if you are a student or a homemaker who wants to get into business um the big issue today is that we have to evolve very fast that means we have to change the way we are doing business to newer forms if you’re a corporate professional you have to change the way you think if you’re a student or homemaker you have to get out and take a risk rather than probably applying for a safe job or something you know probably do something
Of your own right so changing and evolution always takes you know costs a risk and the risk is of two parts, yeah risk is the two parts the worst part is the fear of failure yeah, the fear of failure which is hey man I try this what if it fails and in our culture the fear of failure failures ingrained from school yeah if you write the wrong answers you fail in class you get an ear down or something like that if you write the wrong answer
You may not get through that competitive seat engineering seat or whatever it is right sometimes you sit for competition you want to get admission you don’t get that if you fail if you make mistakes so in our culture the mistakes are um you know they are unjustifiably kind of looked down upon there’s a lot of fear of failure and that’s how we’ve grown up in an adult life it acts as a limiting factor acts as a limiting
Factor today what I’m here to tell you is that your success lies in your failure anything big that you’re going to do is going to come after a little bit of failing you have to embrace that failure and you have to learn from it I’m going to tell you two stories here one of them is of a very big guy and one of them is about a very small guy okay and both stories have the same theme and then probably I’m going to be able to point
You to a resource where you can get more information and probably apply these principles as well so failure is equal to success in fact failure leads to success if you fail once you get scared you back out of the game then obviously it won’t lead to success but going out and failing probably has the seeds to failure and I’ll tell you about I’ll kind of demonstrate that in a story uh about
Steve jobs helped demonstrate that in a story about Steve Jobs so what happened was Steve Jobs the founder of his Startup apple computer and then as a company grew he created different devices and then he had this uh idea and it was kind of a maniacal perfection based idea which said I’m going to create the absolute perfect computer it has to be snazzy looking the
Design has to be perfect the operating system has to be the best everything has to be the best etc okay and then I’m gonna create this computer I’m gonna sell it in the market and in his vision back in the 80s early 80s his vision of that computer was uh you know two thousand to four thousand dollars that was the cost of creating this computer was two thousand to four thousand dollars and uh you know it was impractical and he was going on pushing
That company into that direction by this time the company had gone public so it had other shareholders uh you know who took decisions on the board and everything so when your company goes public, you’re not the only owner there are hundreds all the shareholders are part owners and the biggest shareholders you know they get to decide the future of the company especially if your idea is not working out it’s not making profits and things like that right
So Steve Jobs was taking this company in that direction and he had this idea of some perfect computer etc and it was just cash unviable which means if you roll out a two thousand four thousand dollar computer in the market nobody’s gonna be able to buy it so who are you gonna sell it to so it’s like impractical right and then in the mid-80s they decided that you know Steve Jobs was not getting the
Point he was not you know competitive in the market and he needed to go uh so they took a decision I I’m not sure about the date but I think it was about 1986 or something like that okay so just check up the date but I think in the mid-80s early late 80s they decided that Steve Jobs had to go so Steve Jobs had to go from apple yeah so that was his biggest failure that the company he founded you know driving in a different direction it did
Not work he failed they said you have to go so he left okay first failure second failure he tried to create this ultimate uh educational operating system which was called next okay next and uh this was supposed to be a state-of-the-art operating system and all of that I think it was next or I don’t know it was n small e x t again check up on that not too sure on the on the symbols
But he went out and created the perfect operating system and you know the perfect learning management system a platform that could be used for universities he created it because he says I want to revolution revolutionize the education system and then he created this thing and sure as hell some companies some colleges bought it and everything but it was not frightfully successful yet it was not that successful and a lot of company a
Lot of educational institutions obviously could not afford it as well so affordability was still a problem right affordability is still a problem now fast forward to late 90s what happened was apple computers was unable in there they were developing uh consumer kind of consumer friendly computers and then they had lots of product lines and then the world was evolving so fast that
Apple could not compete so they had a bunch of things going on and they slowly became uncompetitive they were stretched too thin yeah, they were doing lots of things and they were unable to be efficient on all fronts and then you know obviously they said well guess who we have to bring back he’ll have to bring Steve Jobs back okay so apple computers acquired next versus second I would just call it a failure but not entirely a failure but when it’s
Coming from one of the biggest thinkers of the century to the failure because it’s not frightfully successful or anything okay so apple computers bought out Steve Jobs company and they brought Steve Jobs back as kind of the leading figure the head of the company and all that okay so now he’s got two ideas the old idea of making the absolute perfect computer
The second idea was this operating system which was you know which was absolutely next-gen okay not work in the market was absolutely fantastic next-gen and then Steve Jobs comes back uh if you watched um this movie called jobs which has Ashton Kutcher in it you absolutely must watch it okay so it’s jobs with Ashton Kusher there’s another movie called Steve Jobs which has a different actor in it the Michael Fassbender but you know that’s more about his personal
Life so if you haven’t watched jobs which is about Steve Jobs business life and you have to watch it has Ashton Kutcher in it so that’s how you recognize the right movie to watch you absolutely must watch it anyway Steve Jobs comes back to apple and what he does is he cuts all these money losing product lines he says okay cut all of them they’re not making money and they’re not even you know it’s not
Something I’m very proud of making although it may be consumer friendly and all of that just cut all of them so he cut out all the product lines okay and then what he did was he tested out his idea he tested out his idea by marrying this operating system with a small device which he said is going to be the absolute best uh audio device in the world so he launched the iPod okay and what he said was that all our
Devices now are going to have their own operating system so we’re not going to use any borrowed operating system or anything like that some of apple’s own operating systems are also outdated by then we are going to use next which is the absolute next gen best operating system then we are going to create devices around it which is the absolute which are going to be absolutely the best next-gen cool to use devices okay and then he tested this idea with the
iPod became a huge success and then he rolled out the other devices which was the iPhone the iPad and all of these things okay now the fun part was this remember why Steve Jobs had to go from apple because idea was not bad it was unviable which means you could not just create a computer for two thousand three thousand four thousand dollars and make it viable that was in the early eighties today you could create a good computer within probably a thousand fifteen
Hundred dollars because you could outsource the manufacturing to Thailand and China yeah so the universe had reached out okay and met Steve Jobs halfway he shook his hand halfway so he dreamt that dream and he took he kind of stuck with that dream and then he gave a sacrifice for his dream which is he had to go from apple to found another company stuck with that dream I want to make everything that is world class next gen absolutely cool I
Don’t want to do anything second class even if customers buy it and even if customers are happy with it yeah, he didn’t do that he said I’m gonna do what I’m gonna do it has to be the best okay so many years later almost 15 years later he came back to apple and the world had changed the universe had changed today you could outsource the manufacturing of these computers to China and Thailand and whatever and you could bring down the cost of
Manufacturing a little bit maybe from four thousand dollars to inside or two thousand dollars maybe fifteen hundred dollars or something okay and then the other thing was the purchasing power had grown and the importance of computers and day-to-day life had become so much that people would happily buy an absolutely world-class product for thousand to fifteen hundred dollars okay so the whole universe had changed and adjusted itself to his dream okay so the
One thing to learn from this story is that his failure became his success okay his failure became his success the failure is equal to success not exactly equal to why because you fail maybe once or twice and then you forget about it and then you say okay you know screw it, I failed you know I’m not going to follow this path anymore in some cases it might be a healthy thing to do by the way if you can see the signs what you’re thinking
Is probably not does not hold the future in it then quitting is a good option cutting your ties loose is a good option right but if you have a dream and you want to stick with it then your failure will hold the seed to your future success because only when you put effort and you fail and you put effort and you fail that you build the understanding of the market and you start you know even if you’re not don’t have a very high education you
Don’t have a lot of experience in this area intuitively the human brain is so powerful it is so powerful that you’ll start seeing the trends even if not consciously then unconsciously it will start seeing the trends and it will help you plug where the gaps were and if there is leaky water somewhere like this this cost you know cost viability and all of that when you keep sticking with the dream you see gaps in the market where you can plug those leaky holes and
Suddenly you know your water tank will start filling with water okay and the fortunes will burst upon you yeah that’s what we learned from Steve Jobs the story even from my side I had to cut something loose which was a pretty good decision uh so I went to medical college I got a medical degree India’s number two ranked medical college and then I could see the science like I could see people you know in that industry and I said this is probably not the lifestyle
I want I was a little more selfish I said I want to do something good for me and myself and my family first before I go about doing great things for society and things like that so I cut that card loose in my uh you know in my second year of working in a hospital job so I cut that cord loose the only way out for me was to learn sales yeah the only way out for me was to learn sales now before I did that I was in med school I joined this multi-level marketing company which
Is called Amway okay I had got a great learning from it I got a great amount of opportunity from it but there was a little problem I did not know anybody in my town which was I was studying in Pune I belong to Delhi did not know anybody and the only thing I could do was to make it happen was literally go out every day onto the road and literally meet people in commercial areas of town where people are generally hanging out having a coffee or something like I just
Kind of just literally go out and talk to strangers literally go out and talk to strangers and that’s how I would how I would build this list I would go out every single day and try to get one or two phone numbers every single day and try to get one or two phone numbers in a week doing this every single day I would in a week I would get about 10 to 15 phone numbers right then I would wake up wait a week to call them so usually in a
Month I would process about 50 to 60 contacts and long story short that was probably not quite enough to get the business off the ground I’d not become very successful in it and I did this thing for almost two years which means like I literally went out I talked to strangers got their number asked them for directions to somewhere god talking to them ask them for their number saying hey I will live in this area if you ever
Come there you must visit me and doctor so and so and that kind of built some credibility and all but hey at the end of the day I had to talk go out and learn how to talk to strangers I did that and I did that day in and day out for two years uh when I say day in and day out which is after you know after finishing office or my job I would actually go out and this is how I’d spend my evenings and this is how I’d spend my weekends also yeah
The business never got off the ground and then I had to find some other way to pay the bills to pay the bills and then subconsciously what happens is you kind of start you know when you see opportunities you may you may reckon your subconscious brain may recognize them you may not even recognize them consciously but it will pull you in the direction of your dreams if you never give up so uh, I saw that you know I got a job
Offer which was not a fit for me but it would pay the bills it would pay the bills and the job offer was you could actually call people on the phone for a home loan refinance which is you just call a bunch of people they’ll give you the database you just call people and then you say well what home loan do you have yes or no and then you have a home loan okay if you have a home loan how much interest are you paying on it in those times I think the
Home loan was like 14 or something uh probably I think even higher and then we would say well you know we can get you a better deal on it if you want to save you know we’ll get better get a guy to get a guy to meet you and if the deal closed the guy who closed the deal on the ground would get some money and the guy who made the call and got the customer hooked would also get some money okay so it was pretty cool and it was not the best type of job but I
Thought look at this if I’m going to be doing business promoting consumer products and I don’t have a database I’ve been going out every single day and trying to find these phone numbers just so I can have prospects to call okay over here they give you a list the database is already there and what you got to do is you got to just call them and just ask if they have a home loan and if they have a home loan just ask them how much
Interest they’re paying whether they would like to reduce it or whatever okay so this was the year of this was the year 2004 five yeah this was the year about 2005 2005 6 right and it made sense to me it was not a great company it was a DSA which is a direct selling agent of you know a big home loan company and all they were doing was generating the leads and passing them on over to the home loan companies uh sales
Reps and the sales rep would get paid something and they were nice enough to pay us also so I would get paid something if we close and I also had a salary so it made sense to me it was not a cool company it was not the best the swankiest a lot of people in this in my city which is Pune would not join such a company because at that time a lot of swampy BPOs were also coming to town so they had like nice looking cafeteria
They had ac they had all this all the all the zing Zhang a lot of people said I don’t want to join these small DSAs because I mean it’s the work conditions are horrible you know half the time it was not it was not pretty right; they were small offices and everything but I said man look at this thing I’ve been trying to find phone numbers that I don’t have and trying to build up a conversation in order to build a
Consumables business and over here every time I make a call that strikes home there’s a 25-lakh rupee order on the line which is 25 lakh rupee home loan 30 lakh rupee home loan whatever if I strike home then they pay me a little bit of uh incentive for that so I would be able to make some decent money and everything I said this industry is going to be big I need to get in I need to learn this yeah, I need to get in I it kind of makes
Sense to me so I worked in that company I did not look for a very comfortable job offer or anything I said all I have to do is learn sales this is the best place to learn sales I don’t have to go out in the sun and the rain they give me a database and if I go out in the sun in the rain and try to find prospects I can find maybe two a day if they give me a database and give me eight hours I can slam out 200 calls a day at 200 calls a day imagine that’s how hungry I was
Right a lot of people in that job would not make more than 30 or 40 call the day and then they would complain about the database they say the database is crap you know but they would make only 30 or 40 calls a day I said dude this is gold this is gold I would have to go out in four hours I’d be running around just kind of saying hello to people I’d end up with probably two phone numbers over here I get the phone numbers in a database all I have to do is call them I
Would just go as hard and fast as I could I’d make probably 150 to 200 calls a day right fast forward you know we had you know I went to work for another DSA type company which was into pharmaceutical market research and then I t technology outsourcing so we had to do the same thing but we had to call into UK and US and we were talking about technology
Deals and very high-ticket products right so I said it’s the same skill set but instead of a 10 on a 25-lakh rupee home loan this deal by itself could be 100 000 which is you know like 60 lakh rupees so this is a much higher ticket play and I am doing the exact same thing right this is obviously much higher leverage okay so I got to go and work there right and that’s what I did right that’s what I did
Fast forward to uh of course we were able to build that company um you know to about uh 200 crores in annual revenue and we were able to sell that company in Silicon Valley for close to about 500 rupees yeah back in 2015 and all okay and then I got into corporate consulting where I help other companies build their sales and marketing strategies, I help them just look at the telemarketing team and just you know do
Some consulting around it and it was I would get a lot of emails from individuals saying I’m a doctor I’m not getting customers can you help doctors uh you know I’m a corporate professional I want to get into business do you help how can you help guys like me and all that and I would absolutely not even open those emails because guess what it was not good enough money for me, they couldn’t pay me
Because these guys can’t pay me my rates, I would charge I charge pretty premium rates right and then uh you know the lockdown happened in 2020 and I was sitting at home and I got an idea like I saw A person’s webinar a mentor’s webinar and he said that if you want to sell your consulting services you cannot do it by telecalling and
Obviously, the people that you can sell it to which are the retail customers the individuals and small businesses people like corporate professionals’ people like uh certified professionals like doctors’ lawyers-chartered accountants’ people who are small businesses restaurant owners travel agency owners etc and then you know if you had performance marketers like multi-level marketers mutual fund sellers lick sellers’ brokers etc
They need your advice but you have no way of giving them advice because your advice is too expensive yeah to put it in very short words to put it in very short words your product which is the consulting product, I usually work with companies for up to three months to six months at a time your consulting product is difficult to sell okay difficult to sell difficult to buy which means the buying
Decision for the customer is also complicated right they need to understand how this is going to work and everything okay it’s difficult to deliver which means you want to take a flight out to the customer’s office work with them for two or three months probably they have to get a result and all of that so difficult to deliver and difficult to consume which means even if you’re giving the world’s best
Advice to customers it’s going to be many months before they see the results from that advice so even if they do consume it, they’re not going to see the results immediately and there’s lots of other variables the employees may change the training may go bad the training may get old company policies may change they may not be able to utilize your advice anymore so this cycle time of five to six months before they see the results you know that makes
It difficult to consume your service right and then it is difficult to subscribe what is subscription even if this company gives you a contract forever let’s say they say you’re going to work with me forever because you’re delivering through your personal time you cannot have more than two or three of these clients at a time so even if they gave you a subscription offer which
Is I’m gonna give you a retainer for two lakh rupees a month forever as long as you keep doing this for me you cannot onboard more than two three four of these clients at a time because it’s difficult to subscribe which means I have to deliver it personally human time is involved I’m the only person who has the brains over here yeah so if you’re a doctor you would probably understand that the only way you cannot scale because you cannot have other?
People do the surgery for you or something yeah similarly if you’re a corporate professional there is no scaling involved, I mean how much can you raise your rate you cannot raise your rate to 100 crores a year or something right no employee gets paid that so this mentor told me that you need to break down your product into something that is easy to sell
Easy to buy which means you should be able to communicate it easily and they should be able to quickly able to make that decision and then it should be easy to deliver and once you’ve delivered it should be easy to consume okay and then it should be easy to upsell which basically means once you service once you sell a lot of these you could actually make a profit on this and
Then one in 10 or 1 in 20 people will actually come to you and they’ll pay you the big bucks for the big stuff at that point you can actually because the trust is built, they’ve already bought one or two products from you that you’ve delivered the trust is built so well that you can have an employee provide small scale services to them which could be in the form of um you know web setup which could be in the form of digital marketing which could be in the form of
Accounting outsourced accounting which could be in the form of outsourced hr and payroll so these are small services but they pay every month and then you know people only want to do business with people they trust so you have already built that trust right so when I heard that this happened back in February march of 2020 when I heard that a switch clicked in my brain and I said this is very interesting because
See how did I build my career optimizing the process of finding customers better and better and better and better and better yeah optimizing first I had to go out and find these customers okay then I could call these customers on the phone and sell them as you know 25 lakh rupee home loan refinance it would probably make a difference to the customer of about two percent a year so that’s about 50 000 rupees a year that they save so I could
Make some money and the sales guy makes some money and the company obviously makes some money um and then fast forward we are selling you know um deals and leads which could be worth hundred thousand dollars a pop now each lead will not close into a deal but if they do, you’re creating 60 lakh rupees of value right and after that there is a glass ceiling you can teach other companies how to do it they’ll pay you the big bucks but there is a human
Limit to which you can go yeah the money is great you know money is not bad but you always want to look for the next level and then this mentor said what you got to do is you got to do this and then you can scale forever you can scale forever and that made me very you know that made me very interested so what I did was I set up a community which is a Facebook private Facebook mastermind I brought people into that community and I gave them advice for
Free and if they wanted to buy a product, they would be able to buy a done with your product which means there is something that is already knowledge that is already digitized that they can use and then they can only you know kind of get some free consultations with me that helps them to fill in the blanks and get the get the baby on the road this allowed me to service customers who are individuals solopreneurs doctors lawyers charter accountants corporate
Professionals travel agency owner’s salon owners’ real estate brokers I mean you name the thing right so this thing can now scale forever because easy to sell easy to buy easy to deliver easy to consume for the customer easy to consume quick they can consume the whole thing in three days and be on their way and then it’s easy to upsell which means when uh when all of these and all of my customers you know they need other services they are
More than happy to buy from me because they trust me right not only that not only that the community, I’m talking to you about by the way if you’re watching this video anywhere outside of Facebook mastermind which is called the Startupfrat hangout if you’re watching this video anywhere outside the Startup Frat hangout on Facebook then your first step should be to get with us in the Startup frat hang out on Facebook where I give out
Free advice free trainings you can get free offers from lots of our community members from on different kinds of business building products uh lots of latest news it’s a very vibrant community of twenty thousand plus people okay so I’ll just give you the link over here it’s startupfrat.club/facebook okay startupfrat.com Facebook just hit this link and it will take you straight to the Startupfrat hangout which is where
You want to be that’s the best place uh for you to be getting more of this information from me now so I built this community gave out some free information lots of people liked it then they wanted to buy uh you know different products some of these are digitized products like courses and everything and then online classes and some of them would like to buy my consulting which is micro
Consulting can be delivered pretty fast and pays really well okay so that kind of changed my life helped me build this community it is amazing we’ve had an amazing year and then not only that our community has built 24 luck patties and a couple of karo patties as well in the in the last one year since we since we kind of started building it uh in the lockdown of 2020 okay so using this exact formula which is you know how do you
Optimize an efficiency kind of bring efficiency into the process for other business owners as well uh that is the service that we provide which is if you’re a business owner want to be business owner corporate professional small business owner certified professional like doctor, lawyer, chartered accountant, how do you bring efficiency into the process of finding these customers and serving these customers because if you can make it very
efficient you know then the gains for you are also great and the customers also love it because customers don’t really want to drive all the way and meet you and customers trust me you may think you’re you know you look great and you’re god’s gift to mankind or humankind but customers don’t really want to deal with you they just want the result and if that result can be delivered to them at the click of a button or in a format that is easily
Consumable they will probably pay you more just so that they don’t have the inconvenience of making that decision the inconvenience of driving over to your place and listening to you sell them they sell them your product the inconvenience of having to consume the product in a certain format and the inconvenience of not knowing whether it’s gonna make give them good results or not it’s all inconvenient
It’s all inefficient and you can make it more efficient now you don’t need to listen to me for this lots of people will say well how dare you tell me that my business is inefficient I don’t need to tell you that but if you have been feeling like that yeah if the market has been turning and you have been feeling that I need more efficiency in finding and serving customers yeah then I can point you to a resource we have a master class which is
A recorded master class 799 rupees is called startupfrat.club/leanstartup yeah then you can get a free coupon to watch this masterclass is approximately one hour long I’m saving you 700 bucks on it if you feel like this could help you this kind of information just go ahead and watch it towards the end of that
Master class it will also give you an offer on how you can work with us on a paid basis where we actually implement help you implement all of these things in a short two-to-eight-week period yeah if that interests you then definitely see if you can get a good coupon or something then take that decision otherwise this master class by itself will help you skyrocket your income even if you and I never meet again okay even if you and I never meet
Again I can guarantee you that uh so with that this video is done if you want to join us then do startupfrat.com Facebook if you want to watch that masterclass that could help you skyrocket your income the startupfrat.club fall lean startup at the end of that you will also get our offer of the month if you like it then definitely take that decision and come work with us we would love to work with you and with that I shall sign off and I Will see you in the next video bye.