Yesterday I attended the Affiliate Summit East in New York. The speech of Marc Ostrofsky, the author of the book GetRichClick really impressed me. Watch the 5 minutes extract I recorded at #ASE11 about making money online.
Transcript of the Video speech at the Affiliate Summit East, New York 2011 from Marc Ostrofski:
Day to day stuff is done by one group of people, and then there are the thinkers and planners, and we kinda make it happen there. So, let me go right into some of the things I wanted to say.
I may have misspelled Shawn’s name. Let’s not tell him. Shawn, are you in here? Okay good.
I wanted to thank you guys. I used to run trade shows, in fact, my first trade show, I founded the pre-paid phone card industry, and I was one of the founders of the telecom deregulation market, so, everything from … oh my gosh … pay phones, operator services, information services, voice over internet, voice over IP if you will. My first trade show was here, and we started it on a shoestring and sold it for $35,000,000 over at the wdirect. We moved it up to the Japan Center and sold it. And one of the things I teach, and I had $5,000 when I started my companies, and one of the things I like to teach people in business, especially this business, because I love the affiliate space, is that you don’t have to start with a lot to make a lot, and the internet is allowing any of you to play that game, it really really is. I will go through a number of things.
I’m not going to teach you about affiliate marketing, you know that. I’m not going to teach you about lead genenartion, or domain names, in markets (I still like it) and play it a little bit, I’m going to give you a kinda higher level thinking to how to make a killing, as opposed to making a living, because I made an income, and then I made several incomes, and then I sold a company and I learned how do you get to that area quicker, faster, better, smarter so that you can then do it better the next time, and I did it better each time.
I always put in this one reminder, when I leave my house, and this is the last trade show when I left I said to my wife, „Would you love me if I didn’t have any money“. And she looked at me, she said „Would I love you if you didn’t have any money ?“ I said, „Yah, would you love me if I didn’t have any money“. She said, „Yah, I’d love you. I’d miss you, but I’d love you“ [crowd laughing].
I love the topic of information, and its funny but why … could we turn the lights a little bit down on the frontend, if possible, because they are dual color slides, it just makes it easier. I don’t make a fancy presentation, because in this world I am just trying to get nuggets through. If any of you can remember 3 or 4 of these nuggets, it will help. The big multi-media presentation, I went to the National Speakers Association, and we have a woman up there who was describing, and I can’t do it justice. The younger generation who can text, watch TV, eat, use a computer, answer their email, and walk and listen to music all at the same time. So I just decided I’m going to make it simple. I hope I get a few pieces across to each of you. And, you have to know, I do what you guys do. I walk the halls. I don’t fly first class. I enjoy myself. I go out at night. I try not to get into trouble.
I love to talk about information. You know it, when you share it, both of us know it. I was in the trade show business, I was in the magazine business. I’m now in the internet space. Because in the publishing business we had three assets, people, postage and printing. The internet allows me to do the same thing. Very few people, no postage, no print. It has completely changed our world in a very big way.
So I learn, grow, share, interact, and I swear to you, I work a trade show. I’m not a drinker, I don’t sit at the bar and drink all night. But I sit there and I listen, I learn, and I go to my competitors. I find out who is offering what. Do you guys go by and look at your competitors, talk to them, see what they are doing, and really try to get to know them. You would be amazed how much information you can get from a competitor who can tell you everything, everything! They are just standing there in their booth, waiting to talk to someone. Most of them, and if you’re an exhibitor, watch this. Most exhibitors, now we watched this over the years for trade shows, they stand there like this, behind their booth, and they wait. So, we have a company called CufflinksCOM, we went, and I took my younger partner to the show, and he stood there waiting. I said, „What are you doing?“. And he said, „I’m waiting for people to come by.“ I said, „No, let someone else do that. Walk around the show with me.“ And we did 10 times the revenue going to other booths to work with us and buy and sell our product, as he did in the booth selling to the people walking by. There is money to be made doing deals with people in other booths. You just don’t think that, most people don’t think that way. I have grown up in the trade show business so I really, really, really like it. And there is a way to work a show.
When we, through trade shows, we look for speakers that are educational and entertaining. But the bigger picture, the bigger picture for all of us, the trade show company as well as you all, is what is the short term and long term outlook of what we’re dealing with. Whether it’s the affiliate market, or leads, or click bang, yesterday, how do we put it together, how do we make it more efficient, how do we make it faster, better, quicker, smarter, cheaper, and make more money.