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hari

How does one calculate from which point the extra dollar comes from based on "if I help you earn a dollar you wouldn't have had, will you give me 25 cents?"

I feel its really an open ended statement and will cause a lot of conflicts unless there is a ready solution which I am not aware off!!

Paul Simister

Hari

Thanks for the comment.

You are right.

When you have a contingency based arrangement, you need to have a very clear what to record what is happening.

I expect this type of think be be clarified by jay Abraham in the protege training.

Jay himself has been doing this for many years and you can be sure that the mega fees he has been paid, both Jay and his clients have made sure that they are both protected.

It is a factor to consider in very small businesses who don't have the performance measures and systems in place to track what is happening.

hari

I have read his book "Getting Everything You can Out Of All You'VE GOT". It the book he does mention about this method but does not address on the point of reference at which stage to start the tracking.

It is easy for conflicts to ignite.

Jay's course as well has this $5k now and the rest as you earn payment scheme. The rest of course is the % of the % we make from our clients...which is again really upto interpretation...

Maybe what we should do is what Jay is doing...charge upfront for our services and quotea contigency figure on the backend. so in actual fact the value of the service has been covered but we still have recurring income flowing in month after month.

Hope someone here can shed some light on the issue.

I love Jay's simplicity but this area has left me a bit stumpped! I wish I can attend his seminar...but to leave everything and fly half way across the world...that's another thing.

Your RoCk JAy!!

JohnB

I'm a huge fan of Jay (lately I've been going through his UK Advanced eX! Factor seminar tapes, somewhat rare but still very useful and powerful).

He has the same information in nearly all of his tapes and books, but when you hear it a different way, new things can click for you. The $1, .25 tracking question I dont know, but there are enough small businesses out there, someone is bound to do a deal with you.

Paul Simister

John good to hear from you again.

I have the UK Advanced eX Factor program as well.

JohnB

I think the deal making aspects of jays information is really up to interpretation, there are no hard and fast rules. In one of his reports...I think, 10 case studies from my private files, he talked about people didnt like to be at risk on him, so he took 80% of the risk when he started consulting. Pay me $20 k now, and $80 k later. Instead of $100k. And he applies that to his seminars.

JohnB

Also, about his UK ex factor tapes, do you have any favorite part of it?

Tape 28, I thought was great...that you can reduce things down to their core driving principle. I dont think anyone understood that.

And tape 15, 16, his strategy of pre eminence speech. I wonder how well he'll do with this new protege program. He needs to screen his seminar attendees better...on many of his tapes, the participants are so passive. More pro active attendees would feed more deals to him and would be better customers.

Paul Simister

John

Thanks again for your comments.

My understanding of the old contingency approach for Abraham proteges is that it was 100% based on results but I could be wrong.

This is based on hearing a number of the proteges talk about their experience.

I agree about the splitting fees for his own work, I remember Jay telling a story of wanting to increase his copywriting fees many years ago.

These numbers may not be right but the principle is.

Jay went from a fee of $5k to a split arrangement of a fixed fee of $6.5k plus $8.5k on contingency based on agreed targets.

It was accepted because clients could see he was "taking more risk" than they were and Jayu increased his fees by 30% to 200%. Neat idea.

On the eX Factor cassettes it is sometime since I listened. I always find the strategy of preeminence inspiring.

Mark Wheatley

Paul

When did the new protege program in 2009 take place?

Regards

Mark Wheatley

Marshall

Hi, this is a really old post, but in case people still got here and read the comments:

For the 25 cents on the dollar arrangement, the key is to track the specific campaigns that you as the contingent fee service provider implements.

In other words, if I, a marketing consultant, were to create a direct mail campaign, I would be making 25% of the gross profits generated by customers through the campaign for the length of the use of my materials.

Of course, these terms can be very flexible. And if you are effective in your actions, remember the old adage: "Always do more than you're paid for" - reciprocity is ingrained at a biological level in human decision making...

Feel free to email me questions, I love to discuss this topic!

Paul Simister

The protege program from Jay Abraham has now closed and he is moving towards more 1-2-1 work with bigger businesses.

I suggest that if you mentored by Jay, I suggest you take a look at his Master of passive Income webinar promoting the program of the same name.

https://schefren.infusionsoft.com/go/MPI/spinone/

This is an affiliate link so if you click through, love the webinar and buy, then I earn a commission.

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