00:00:01another edition of modeling the masters
00:00:03today we’re going to take a look at
00:00:05America’s greatest showman PT Barnum
00:00:16PT Barnum was an American showman
00:00:19businessman and entertainer above all
00:00:22else he was a salesman and promoter who
00:00:23knew how to get people talking today the
00:00:26legacy of his work lives on in Ringling
00:00:28Brothers and Barnum and Bailey Circus
00:00:29still billed as the greatest show on
00:00:32earth
00:00:32when PT Barnum first launched his
00:00:34business there was heavy competition as
00:00:36many entrepreneurs had set up their own
00:00:37traveling road shows he knew that in
00:00:40order for his circuses succeed he needed
00:00:42to get people excited about it by being
00:00:44extremely different from everyone else
00:00:46even if you didn’t have a ticket to a
00:00:48show when Barnum circus was in town you
00:00:51would know it he would sweep through
00:00:52into the city with gusto elephants would
00:00:55be paraded through the streets and
00:00:56clowns would be sent to local hospitals
00:00:58to visit with sick children Barnum was
00:01:00providing a pre-show to his circus that
00:01:02got people talking and raised the
00:01:04excitement levels about his acts he
00:01:06would offer tours of his circus anyone
00:01:08who wanted to see inside the big top and
00:01:09also put on a myriad of free contests in
00:01:12order to attract crowds to the circus
00:01:14Barnum schemes always worked people
00:01:17would show up in droves as with the
00:01:18media he was always thinking of ways to
00:01:20promote both himself and his circus from
00:01:23making splashy entrances to using
00:01:24cross-promotion Barnum did what it took
00:01:27to make sure people knew who he was so
00:01:29the next question becomes how can you
00:01:31model the success of PT Barnum here are
00:01:34three action tips you can put to use in
00:01:36your business today action item number
00:01:38one sell something unique how do you
00:01:41really stack up against your competitors
00:01:43are you honestly that different if
00:01:46you’re an average company with an
00:01:47average product selling at an average
00:01:49price then guess what you get average
00:01:52results to be successful you have to
00:01:54have a point of differentiation it has
00:01:57to be something that is noticeable to
00:01:58people who don’t understand your
00:02:00industry in the circus business you have
00:02:02to get good performers and PT Barnum
00:02:05went out of his way to find the best
00:02:06from the Fiji mermaid to the Siamese
00:02:09twins Chang and Eng bunker the General
00:02:11Tom Thumb the midget PT Barnum had a
00:02:14unique product that none of his
00:02:15competitors could match think about if a
00:02:18potential customer found your website
00:02:19and five of your competitors websites
00:02:21would they get the feeling that you’re
00:02:23very different from the others be honest
00:02:25with yourself
00:02:26and if the answer is not really then
00:02:28it’s time to get to work on creating an
00:02:30offering that is truly unique in your
00:02:32industry action item number two
00:02:36promote promote promote you can have the
00:02:40greatest product or service in the world
00:02:41but if nobody knows about it your
00:02:43business won’t last very long whatever
00:02:45market you’re selling to is likely full
00:02:47of competitors even if you have a better
00:02:50quality product or service your
00:02:51competition can get more business than
00:02:53you if they promote themselves properly
00:02:55to be a successful entrepreneur you need
00:02:58to both provide an outstanding offering
00:03:00see action item number one and promote
00:03:03it so everybody knows about it one of my
00:03:06favorite quotes from PT Barnum is
00:03:07without promotion something terrible
00:03:10happens nothing if you’re not out
00:03:13promoting and selling your product and
00:03:14your competitors are taking your
00:03:16customers from you even if you can
00:03:18provide them with a better option if
00:03:20you’re not out promoting then you lose
00:03:22and your customers lose promoting your
00:03:24business doesn’t have to be expensive
00:03:26and you don’t have to be a great people
00:03:27person you just have to do something
00:03:30unique to stand out according to the New
00:03:33York Times the average person in a city
00:03:35sees 5000 ads per day unless you’re very
00:03:38very unique and different with your
00:03:40promotion people are going to ignore you
00:03:42they’re not trying to be mean we’re all
00:03:45just train the filter things out unless
00:03:47we have a reason to pay attention give
00:03:49them that reason to pay attention and
00:03:51with your next promotion ask yourself
00:03:53what would PT Barnum do
00:03:57action item number three showcase
00:03:59yourself people like to buy from people
00:04:02not from companies think about your own
00:04:04buying experiences would you rather buy
00:04:06from someone who you can see their
00:04:08picture learn about their story and
00:04:10relate to their experiences or would you
00:04:12rather buy from ABC company who uses the
00:04:14same stock photography and Boeing
00:04:16mission statements as everyone else PT
00:04:19Barnum did a great job of not only
00:04:20promoting his business but himself as a
00:04:23part of it he was a creative founder who
00:04:25everyone was talking about and wanted to
00:04:27learn more about you don’t have to be a
00:04:30daredevil like Richard Branson and
00:04:31balloon around the world although PT
00:04:33Barnum would be proud but it can really
00:04:35help your business if you showcase
00:04:37yourself so that your prospective
00:04:39customers feel like they’re buying from
00:04:41a real human being put your picture on
00:04:43your website and in your marketing
00:04:44materials tell a brief story as to why
00:04:47you started your business and the
00:04:48problems you’ve been able to help solve
00:04:49for your customers explain why you’re so
00:04:52proud of your business and what makes
00:04:54you different it will have a tremendous
00:04:56and long-lasting impact on your
00:04:58company’s growth so remember sell
00:05:01something unique promote promote promote
00:05:03and showcase yourself now I want to end
00:05:07the video with one of my favorite true
00:05:08stories about PT Barnum one of the
00:05:11houses PT Barnum owned was located in
00:05:13Connecticut it was a large estate
00:05:14situated near set of high-traffic
00:05:16railroad tracks what made the land so
00:05:19unique was that Barnum would frequently
00:05:21use an elephant to plow his yard he took
00:05:24every chance he could to promote his
00:05:25circus each time a train passed by his
00:05:28house on to wait in New York City
00:05:29hundreds of passengers would see Barnum
00:05:32and the elephant it was a living
00:05:34advertisement that spoke volumes and
00:05:36intrigue to commuters as a zip by who
00:05:38was this man and why was he on an
00:05:40elephant in his backyard they all wanted
00:05:42to know newspapers reporters came from
00:05:45far and near and wrote glowing account
00:05:47of the elephantine performances said
00:05:49Barnum the six acres were plowed over at
00:05:52least 60 times before I thought the
00:05:53advertisements efficiently circulated
00:05:55thank you for joining me for another
00:05:57edition of modeling the Masters
00:05:59to hear your thoughts if you want to
00:06:01leave a comment below and stay tuned for
00:06:03the next edition
”