The Host Beneficiary Strategy That Changes Everything

0:01 Well, g' day and welcome to drive time here today. Actually, I'm heading out to the lake, have a couple of days to the end of summer, I guess as houseboat, ski boat, family, relax for a few days. But anyway, one of the greatest things about marketing and about building a business is that if you do it right, it affords you the luxuries that you want in life. So if you start thinking about what luxuries you're looking for in life and start thinking about what's going to pay for that, obviously building a great business and building a great business starts with marketing.

0:36 And one of the strategies that has helped me massively along that way is a host beneficiary. Now what is the host beneficiary? Well, if you try and understand strategic partnerships, strategic alliances, understanding piggyback mailings, that sort of thing. And if you don't understand all that, it's in my first ever book, Instant Cash Flow. It takes you through all of that or now it's the Apprentice Billionaires Guide to Cash Flow. We re released it all edited and updated.

1:05 But what the host beneficiary is really looking to do is to help you achieve a massive influx of new business in one go. So if that's something you're looking for, then obviously this is the strategy that you want to learn and you want to learn more about it. You can definitely learn more about it in Instant leads. My other book and or on 30x. What we're aiming to do in a host business is really get we're looking to find a host.

1:35 Okay? Now what the host is is another business group, an organization, a club. We're looking for someone with a database of customers that are similar to ours. Okay? So if you think about the traits of your customers, if you think about your target audience, okay, who else has a database of your target audience? What business has a datab database that's the same as yours? Oh, thanks for typing in where you're at, gang.

2:07 Appreciate that. Always like to know where I'm driving to every day when we're out on the drive. So if you think about other businesses that have in the life cycle of buying or in the process of buying, their customer base is similar to yours. Now you could probably sit down and make a list of 10 or 20 business types that have a customer base similar to yours, or clubs or organizations or associations that have a database similar to yours.

2:38 A business group that's similar to yours. For instance, one of the first times I ever did a host beneficiary, it was between a hairdresser and a clothing boutique. They both had the same female customer base. Very high end type of thing. Both very expensive stores. So you start to think about who has that same database. And then what a host beneficiary does is it allows you to access their database. It allows you to have them mail their database or convince their database to do business with you.

3:11 It builds an offer that brings them to you. So the host beneficiary strategy is one that you have to learn. It's one that you have to understand. I'll make sure the team puts a link in here to both instant leads and to the cash flow from the Apprentice Billionaires Guide to Cash Flow so you can learn these strategies and understand them. The more you understand these strategies, then the faster it's going to work for you. The host beneficiary I've used it, I've had newspaper organizations refer their customer base to me.

3:43 Literally yesterday I was working with a franchisor who's going to refer their entire customer base to me. When you go to these sorts of things and you get someone that will massively refer their database to, you got to come up with an offer and you got to build those things. And once you study how to do the host beneficiary strategy and you get real good at it, then you start understanding. But it all starts with knowing who is your customer and who else has a customer base just like yours.

4:13 So start that today. Start working on making a list of the top 20 business types or the top 10 association types or whatever it is that have a similar customer base to you. And then do your research. Who are the five? Let's say it's accountants. Who are the five biggest accountants in your market that you would want to build a relationship with, that you'd love them to refer to their customer base or who are the printers or who are the, you know, whatever it is.

4:41 Start thinking you should end up with a list somewhere in the vicinity of 50, 80, 100 businesses or associations that you now need to go build a relationship with in order to be able to get these host beneficiaries working. But that's the start of it. Think of that list, build that list. Then go study in, in the books or on 30x how to actually do the host beneficiary. And make sure you learn that if you really help with it, go chat with your local action coach.

5:11 Get to know them, get them to help you with this. This is a great strategy and it works for almost every business out there. You just got to think through who are the ones with your target audience. Take care. Keep building that business. Keep staying focused on your marketing. And let's grow things. I'll be out for a few days. Or maybe I can do a drive time from the boat. Maybe I can. Boat time. Anyway, take care.

5:34 Bye for now. Talk soon.