00:00:02another edition of modeling the masters
00:00:04where we look at how you can model the
00:00:06successful strategies of famous
00:00:08entrepreneurs today we’re going to look
00:00:10at the multi-millionaire founder of
00:00:11American Idol Simon Fuller Simon Fuller
00:00:18is a British artist manager television
00:00:20producer and creator of the idol
00:00:22franchise first seen as Pop Idol in the
00:00:24UK and over 100 other versions including
00:00:27American Idol and Canadian Idol Fuller
00:00:29is a co-creator and executive producer
00:00:31of the Fox TV reality show so he can
00:00:34condense and other US and European TV
00:00:36shows his also or has been the manager
00:00:39of performers and entertainers including
00:00:41S Club 7 David and Victoria Beckham Andy
00:00:44Lennox Andy Murray the Spice Girls Lisa
00:00:47Marie Presley David Cook
00:00:48Adam Lambert and others fuller started
00:00:51his first company 19 entertainment when
00:00:54he was 25 years old and sold it in 2005
00:00:56for over 200 million dollars in 2007 he
00:01:00was named by Time magazine as one of the
00:01:02hundred most influential people in the
00:01:03world he is a mystery entrepreneur
00:01:06behind the scenes who was making
00:01:07millions and calling the shots while
00:01:09flying under the radar and here’s what
00:01:11you can learn from his success
00:01:14so the next question becomes how can you
00:01:16model the successful strategies of Simon
00:01:19Fuller here are three action items and
00:01:21you could put to use in your business
00:01:23today action avidin umber one put
00:01:26yourself in your customers shoes as
00:01:28entrepreneurs we can easily get lost in
00:01:30our product or service and how great it
00:01:32is
00:01:32we can’t wait to launch the next version
00:01:34or introduce a new feature the trouble
00:01:36is were often creating products for
00:01:38ourselves and are not focused enough on
00:01:39our customer will actually want this new
00:01:41product or service Simon Fuller is a
00:01:44master at putting himself in his
00:01:45customers shoes when he came across a
00:01:47pop group called spice he recognized
00:01:50that their market was limited young
00:01:51girls traditionally only buy music from
00:01:53male singers as they are threatened by
00:01:55the women to fix this problem he changed
00:01:57the name to Spice Girls and launched
00:01:59their girl power theme which made young
00:02:01girls want to buy their music just as
00:02:03much as the boys fuller took five young
00:02:06women turned them into Superstars and
00:02:08the best-selling girl group of all time
00:02:09with over 75 million records sold by
00:02:13puttin himself in his customers shoes
00:02:14think about your product or service are
00:02:17you really solving a need for your
00:02:19customers that nobody else is offering
00:02:20put yourself in your customers shoes you
00:02:23can knock their socks off with your next
00:02:24product launch action item number two
00:02:28know what you’re good at everybody has
00:02:31strengths and weaknesses the trouble is
00:02:33as entrepreneurs we tend to try to do
00:02:35everything even though we’re only good
00:02:36at a few things if you focus your
00:02:38attention and build your business around
00:02:40what you’re really good at you have a
00:02:42much higher chance of success and also
00:02:44have a lot more fun Simon Fuller
00:02:46strengths is promoting somebody or
00:02:47something while it’s popular and then
00:02:49dropping it to move on to the next hot
00:02:51trend no matter how great the artist he
00:02:53is working on promoting today seems to
00:02:55be he always has another one waiting in
00:02:57the wings ready to go when the Spice
00:02:59Girls dumped him as manager he
00:03:01immediately began to promote as Club 7
00:03:03after us Club 7 split he was ready with
00:03:05S Club juniors in his own words my
00:03:08business is creating Fame and celebrity
00:03:10and I’m one of the best in the world I
00:03:12know it to the finest detail and that’s
00:03:16the beauty of his pop idol American Idol
00:03:18franchise it doesn’t matter how much
00:03:20real talent or staying power the winners
00:03:22have because audiences will quickly move
00:03:24on to listening to next season’s
00:03:25contestants fuller built a bit
00:03:28compliments what he’s best at the
00:03:30business model works for him instead of
00:03:32the other way around
00:03:33think about your own business for a
00:03:35second do you have to do things you hate
00:03:37and aren’t good at like cold calling to
00:03:39bring in clients you’ll see a huge jump
00:03:42in your business if you can make the
00:03:43business model work for you and focus
00:03:45your energies and what you’re really
00:03:47good at action item number 3 paint a
00:03:51vision for your customers if you’re
00:03:53trying to sell something new or have a
00:03:55difficult sales process you should
00:03:57consider giving your customer a vision
00:03:58of their future as a part of your pitch
00:04:00show your customers what their lives
00:04:02will look like if they work with you let
00:04:04them imagine a benefits that you can
00:04:06offer and convince them on an emotional
00:04:07level that they should become your
00:04:09client when Simon Fuller wanted to
00:04:12expand his reach into managing
00:04:13celebrities he went after one of the
00:04:15biggest names in the world soccer
00:04:17superstar David Beckham fullest rolled
00:04:20Beckham by pampering him at Elton John’s
00:04:22mansion and then given him a six-day
00:04:24vacation in Provence France Fuller
00:04:27painted a beautiful picture of what it
00:04:28would be like working with him and
00:04:30Beckham couldn’t resist he signed up for
00:04:32fuller services okay so you don’t know
00:04:35Elton John and you can’t afford to fly
00:04:36your clients to France but you can do
00:04:39the same thing on a smaller scale think
00:04:41about how you can show your prospects
00:04:43that working with you will lead them to
00:04:45a better life don’t ignore the emotional
00:04:47part of the sale and focus only on
00:04:49tangible facts so remember put yourself
00:04:54in your customers shoes know what you’re
00:04:56really good at and paint a vision of the
00:04:59future for your customers I wanted to
00:05:01end the video today by sharing one of my
00:05:03favorite true stories about Simon Fuller
00:05:05how do you come up with a company name
00:05:07in the mid-1980s with just three years
00:05:10experience under his belt fuller quit
00:05:13his job and set off on his own it was a
00:05:15risky decision the one that paid off
00:05:17when fuller discovered Paul Hardcastle
00:05:19Hardcastle had written a song called 19
00:05:22which centred on the Vietnam war with
00:05:24Fuller’s help the song became a huge hit
00:05:26and fuller celebrated by naming his new
00:05:28company 1919 entertainment was
00:05:32officially launched in 1985
00:05:35thank you for joining me for another
00:05:37edition of modeling the masters I hope
00:05:39you enjoyed and I’d love to hear your
00:05:40thoughts if you want to leave a comment
00:05:42below this video stay tuned for the next
00:05:44episode
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