hi I’m Evan Carmichael and welcome to another edition of modeling the masters
another edition of modeling the masters
another edition of modeling the masters I believe that the fastest and most
I believe that the fastest and most
I believe that the fastest and most effective way to grow your business is
effective way to grow your business is
effective way to grow your business is to model the strategies of people who
to model the strategies of people who
to model the strategies of people who have already done what you’re trying to
have already done what you’re trying to
have already done what you’re trying to do so today we’re going to look at how a
do so today we’re going to look at how a
do so today we’re going to look at how a young man who couldn’t hold down a
young man who couldn’t hold down a
young man who couldn’t hold down a steady job and couldn’t get his mind off
steady job and couldn’t get his mind off
steady job and couldn’t get his mind off of thinking about hunting and fishing
of thinking about hunting and fishing
of thinking about hunting and fishing turn his passion into a business and
turn his passion into a business and
turn his passion into a business and would go on to be named one of the top
would go on to be named one of the top
would go on to be named one of the top ten entrepreneurs of the 20th century by
ten entrepreneurs of the 20th century by
ten entrepreneurs of the 20th century by the Wall Street Journal this is the
the Wall Street Journal this is the
the Wall Street Journal this is the story of LL Bean and the top three
story of LL Bean and the top three
story of LL Bean and the top three lessons and you can learn from his
lessons and you can learn from his
lessons and you can learn from his success
success
success Leon Leon wood beam was an inventor
Leon Leon wood beam was an inventor
Leon Leon wood beam was an inventor author outdoor enthusiast and founder of
author outdoor enthusiast and founder of
author outdoor enthusiast and founder of the company LL Bean as a young man beam
the company LL Bean as a young man beam
the company LL Bean as a young man beam couldn’t hold a steady job and drifted
couldn’t hold a steady job and drifted
couldn’t hold a steady job and drifted from place to place
from place to place
from place to place who would much rather be out hunting and
who would much rather be out hunting and
who would much rather be out hunting and fishing than working for someone else
fishing than working for someone else
fishing than working for someone else after a series of outdoor expeditions
after a series of outdoor expeditions
after a series of outdoor expeditions being returned home with his feet
being returned home with his feet
being returned home with his feet soaking wet because it wasn’t a good
soaking wet because it wasn’t a good
soaking wet because it wasn’t a good shoe that could keep them dry he set out
shoe that could keep them dry he set out
shoe that could keep them dry he set out to solve the problem by visiting a local
to solve the problem by visiting a local
to solve the problem by visiting a local cobbler and creating the new shoe for
cobbler and creating the new shoe for
cobbler and creating the new shoe for outdoorsmen he called it the Maine
outdoorsmen he called it the Maine
outdoorsmen he called it the Maine hunting shoe bean got a list of hunting
hunting shoe bean got a list of hunting
hunting shoe bean got a list of hunting license holders set up shop in his
license holders set up shop in his
license holders set up shop in his brother’s basement and drafted a letter
brother’s basement and drafted a letter
brother’s basement and drafted a letter to be sent by a male to his list bean
to be sent by a male to his list bean
to be sent by a male to his list bean road outside of your gun nothing is so
road outside of your gun nothing is so
road outside of your gun nothing is so important to your outfit as your
important to your outfit as your
important to your outfit as your Footwear you cannot expect success
Footwear you cannot expect success
Footwear you cannot expect success hunting deer or moose if your feet are
hunting deer or moose if your feet are
hunting deer or moose if your feet are not properly dressed the letter was a
not properly dressed the letter was a
not properly dressed the letter was a success and he sold a hundred pairs only
success and he sold a hundred pairs only
success and he sold a hundred pairs only to have 90 of them returned because they
to have 90 of them returned because they
to have 90 of them returned because they broke apart being refunded his customers
broke apart being refunded his customers
broke apart being refunded his customers too money took out a loan to modify the
too money took out a loan to modify the
too money took out a loan to modify the design and began selling again by the
design and began selling again by the
design and began selling again by the time Bean died in 1967 company sales had
time Bean died in 1967 company sales had
time Bean died in 1967 company sales had passed four million dollars per year and
passed four million dollars per year and
passed four million dollars per year and the Wall Street Journal named him one of
the Wall Street Journal named him one of
the Wall Street Journal named him one of the top ten entrepreneurs of the 20th
the top ten entrepreneurs of the 20th
the top ten entrepreneurs of the 20th century today with over 1.7 billion
century today with over 1.7 billion
century today with over 1.7 billion dollars in annual sales LL Bean remains
dollars in annual sales LL Bean remains
dollars in annual sales LL Bean remains one of the most successful family-run
one of the most successful family-run
one of the most successful family-run businesses in the United States by
businesses in the United States by
businesses in the United States by following what excited him and by taking
following what excited him and by taking
following what excited him and by taking action LL Bean was able to transform
action LL Bean was able to transform
action LL Bean was able to transform himself from men who couldn’t hold down
himself from men who couldn’t hold down
himself from men who couldn’t hold down a steady job into one of the top 10
a steady job into one of the top 10
a steady job into one of the top 10 entrepreneurs of the 20th century to
entrepreneurs of the 20th century to
entrepreneurs of the 20th century to help you transform your business here
help you transform your business here
help you transform your business here are three action items and you can learn
are three action items and you can learn
are three action items and you can learn from LL Bean
from LL Bean
from LL Bean action atom number one care for your
action atom number one care for your
action atom number one care for your customers if you want people to keep
customers if you want people to keep
customers if you want people to keep buying from you and tell their friends
buying from you and tell their friends
buying from you and tell their friends to buy as well you need to care about
to buy as well you need to care about
to buy as well you need to care about their well-being and provide as good an
their well-being and provide as good an
their well-being and provide as good an experience as possible for them this is
experience as possible for them this is
experience as possible for them this is especially true in industries where
especially true in industries where
especially true in industries where there isn’t really that much that’s
there isn’t really that much that’s
there isn’t really that much that’s different between what you’re offering
different between what you’re offering
different between what you’re offering or what your competitor is selling the
or what your competitor is selling the
or what your competitor is selling the differentiating factor that will make
differentiating factor that will make
differentiating factor that will make customers want to buy from you is the
customers want to buy from you is the
customers want to buy from you is the customer service and the experience that
customer service and the experience that
customer service and the experience that you give them beans name became
you give them beans name became
you give them beans name became synonymous with outstanding customer
synonymous with outstanding customer
synonymous with outstanding customer service one of his policies was the 100%
service one of his policies was the 100%
service one of his policies was the 100% money-back guarantee with no expiration
money-back guarantee with no expiration
money-back guarantee with no expiration date no matter how long ago you bought
date no matter how long ago you bought
date no matter how long ago you bought his products bean would refund you all
his products bean would refund you all
his products bean would refund you all of your money if you weren’t completely
of your money if you weren’t completely
of your money if you weren’t completely satisfied he even paid for the postage
satisfied he even paid for the postage
satisfied he even paid for the postage for you to mail it back to him knowing
for you to mail it back to him knowing
for you to mail it back to him knowing that his customers were hunters and
that his customers were hunters and
that his customers were hunters and fishermen who often needed equipment in
fishermen who often needed equipment in
fishermen who often needed equipment in the middle of the night bean also threw
the middle of the night bean also threw
the middle of the night bean also threw away the keys a historian Freeport and
away the keys a historian Freeport and
away the keys a historian Freeport and kept it open 24 hours a day 365 days a
kept it open 24 hours a day 365 days a
kept it open 24 hours a day 365 days a year to give them a better experience
year to give them a better experience
year to give them a better experience it’s only been closed twice in its
it’s only been closed twice in its
it’s only been closed twice in its history according to bean no sale is
history according to bean no sale is
history according to bean no sale is really complete until the product is
really complete until the product is
really complete until the product is worn out and the customer satisfied a
worn out and the customer satisfied a
worn out and the customer satisfied a customer is the most important person
customer is the most important person
customer is the most important person ever in this office in person or by mail
ever in this office in person or by mail
ever in this office in person or by mail above all we wish to avoid having a
above all we wish to avoid having a
above all we wish to avoid having a dissatisfied customer we consider our
dissatisfied customer we consider our
dissatisfied customer we consider our customers a part of our organization and
customers a part of our organization and
customers a part of our organization and we want them to feel free to make any
we want them to feel free to make any
we want them to feel free to make any criticism they see fit in regard to our
criticism they see fit in regard to our
criticism they see fit in regard to our merchandise or service action item
merchandise or service action item
merchandise or service action item number two be your target market one of
number two be your target market one of
number two be your target market one of the best ways to do market research and
the best ways to do market research and
the best ways to do market research and really know if you’re onto something or
really know if you’re onto something or
really know if you’re onto something or not is to be your own customer does your
not is to be your own customer does your
not is to be your own customer does your product or service work as you would
product or service work as you would
product or service work as you would like it to would you be willing to pay
like it to would you be willing to pay
like it to would you be willing to pay money for it does it solve a real
money for it does it solve a real
money for it does it solve a real problem the more you’re a part of your
problem the more you’re a part of your
problem the more you’re a part of your target market the better your chance
target market the better your chance
target market the better your chance you’ll have to create a product or
you’ll have to create a product or
you’ll have to create a product or service that will really sell you’ll
service that will really sell you’ll
service that will really sell you’ll know because it helps make what you’re
know because it helps make what you’re
know because it helps make what you’re currently doing better faster or somehow
currently doing better faster or somehow
currently doing better faster or somehow more effective beans passion was hunting
more effective beans passion was hunting
more effective beans passion was hunting and fishing it’s what led him to create
and fishing it’s what led him to create
and fishing it’s what led him to create the Maine hunting shoe I kept him
the Maine hunting shoe I kept him
the Maine hunting shoe I kept him inspired to continue growing his
inspired to continue growing his
inspired to continue growing his business whether his executives wanted
business whether his executives wanted
business whether his executives wanted to launch a new fishing rod shirt or 10
to launch a new fishing rod shirt or 10
to launch a new fishing rod shirt or 10 being insisted on personally testing all
being insisted on personally testing all
being insisted on personally testing all of his products because it had his name
of his products because it had his name
of his products because it had his name on it and it needed his personal seal of
on it and it needed his personal seal of
on it and it needed his personal seal of approval after the failure of his very
approval after the failure of his very
approval after the failure of his very first Maine hunting shoe he always took
first Maine hunting shoe he always took
first Maine hunting shoe he always took his products out into the real world to
his products out into the real world to
his products out into the real world to make sure they worked before they were
make sure they worked before they were
make sure they worked before they were sold even when his team around him
sold even when his team around him
sold even when his team around him advised that they were better uses of
advised that they were better uses of
advised that they were better uses of his time and someone else could do it if
his time and someone else could do it if
his time and someone else could do it if it worked for him he knew his customers
it worked for him he knew his customers
it worked for him he knew his customers would like it because he was one of them
would like it because he was one of them
would like it because he was one of them bean once wrote in his catalog it is no
bean once wrote in his catalog it is no
bean once wrote in his catalog it is no longer necessary for you to experiment
longer necessary for you to experiment
longer necessary for you to experiment with hundreds of flies to determine the
with hundreds of flies to determine the
with hundreds of flies to determine the few that will catch fish we’ve done that
few that will catch fish we’ve done that
few that will catch fish we’ve done that experimenting for you being continued
experimenting for you being continued
experimenting for you being continued being a part of his target market for as
being a part of his target market for as
being a part of his target market for as long as he could hold a fishing rod and
long as he could hold a fishing rod and
long as he could hold a fishing rod and lace up his boots action Adam number
lace up his boots action Adam number
lace up his boots action Adam number three network entrepreneurs often aren’t
three network entrepreneurs often aren’t
three network entrepreneurs often aren’t great at promoting themselves and
great at promoting themselves and
great at promoting themselves and networking many of us are happiest when
networking many of us are happiest when
networking many of us are happiest when we’re working on a new product or
we’re working on a new product or
we’re working on a new product or providing the service instead of
providing the service instead of
providing the service instead of actually getting out there and selling
actually getting out there and selling
actually getting out there and selling but getting your product or service into
but getting your product or service into
but getting your product or service into the hands of the right people can often
the hands of the right people can often
the hands of the right people can often make or break your company and you need
make or break your company and you need
make or break your company and you need to be an effective networker
to be an effective networker
to be an effective networker to make sure that they know what you’ve
to make sure that they know what you’ve
to make sure that they know what you’ve got bean was always an outdoorsman at
got bean was always an outdoorsman at
got bean was always an outdoorsman at heart but he knew how to network and
heart but he knew how to network and
heart but he knew how to network and promote his business after the avid
promote his business after the avid
promote his business after the avid hunter started buying his products being
hunter started buying his products being
hunter started buying his products being made a point of connecting with
made a point of connecting with
made a point of connecting with high-profile people to introduce them to
high-profile people to introduce them to
high-profile people to introduce them to his company everyone from Franklin
his company everyone from Franklin
his company everyone from Franklin Roosevelt to Babe Ruth the John Wayne
Roosevelt to Babe Ruth the John Wayne
Roosevelt to Babe Ruth the John Wayne found about his products and began using
found about his products and began using
found about his products and began using them bean also sponsored high-profile
them bean also sponsored high-profile
them bean also sponsored high-profile athletes like the 1932 Macmillan Arctic
athletes like the 1932 Macmillan Arctic
athletes like the 1932 Macmillan Arctic expedition team who wore his boots on
expedition team who wore his boots on
expedition team who wore his boots on their expedition but you didn’t have to
their expedition but you didn’t have to
their expedition but you didn’t have to be famous for being to let you know what
be famous for being to let you know what
be famous for being to let you know what he did as one local writer from Maine
he did as one local writer from Maine
he did as one local writer from Maine wrote of being if you drop in to shake
wrote of being if you drop in to shake
wrote of being if you drop in to shake his hand you get home to find his
his hand you get home to find his
his hand you get home to find his catalog in your mailbox be your target
catalog in your mailbox be your target
catalog in your mailbox be your target market and network
market and network
market and network to finish up this video I wanted to
to finish up this video I wanted to
to finish up this video I wanted to share one of my favorite true stories
share one of my favorite true stories
share one of my favorite true stories about alveen and some of his best quotes
about alveen and some of his best quotes
about alveen and some of his best quotes when bean first threw away the keys to
when bean first threw away the keys to
when bean first threw away the keys to his store and invited hunters and
his store and invited hunters and
his store and invited hunters and fishermen to come visit the store
fishermen to come visit the store
fishermen to come visit the store whenever they wanted he installed a
whenever they wanted he installed a
whenever they wanted he installed a late-night Bell to allow people to ring
late-night Bell to allow people to ring
late-night Bell to allow people to ring for assistance customers who arrived
for assistance customers who arrived
for assistance customers who arrived late at night would see the Bell and
late at night would see the Bell and
late at night would see the Bell and assign that ride push once a minute
assign that ride push once a minute
assign that ride push once a minute until clerk appears pushing a bell would
until clerk appears pushing a bell would
until clerk appears pushing a bell would bring a watchman and often even being
bring a watchman and often even being
bring a watchman and often even being himself to come help the customer no
himself to come help the customer no
himself to come help the customer no matter what time of day it was
thank you for joining me for another
thank you for joining me for another edition of Mali two masters if you liked
edition of Mali two masters if you liked
edition of Mali two masters if you liked the video and want to see more please
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the video and want to see more please give it a thumbs up I’d also love to
give it a thumbs up I’d also love to
give it a thumbs up I’d also love to hear your thoughts and feedback if you
hear your thoughts and feedback if you
hear your thoughts and feedback if you want to leave a comment below the video
want to leave a comment below the video
want to leave a comment below the video and stay tuned for the next episode
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