Last week, I spent 4 days entirely immersed in a seminar… on Zoom.
I’m a big proponent of going to events and seminars on a regular basis – at least once or twice a year.
Last time, I spent 10 days over New Years’ Eve in complete silence – meditating.
I do this because I believe there is nothing better than total immersion to learn something new or refresh some basics, whether that is about investing, building a business, health, or pretty much anything else.
Traditionally, all of these events have been in-person.
But as you know, large in-person events were some of the first to go when COVID broke out. And although parts of the global economy have re-opened, most large events remain restricted.
As a result, event businesses have gone under by the hundreds. But not all of them reacted the same way.
I know a lot of you are familiar with Tony Robbins, the number 1 peak performance coach in the world. I’ve met hundreds of you at some of his events.
But Tony’s business – and entry-level funnel, is all about in-person events. He puts 10,000 people in a stadium for 4 days, delivers an incredible experience, and upsells about 15% of them to his $15,000 program… of more in-person events.
At those events, he then upsells another 10% to his inner circle – which costs $65,000 per year just for the membership, and which again, are events.
But when COVID hit, all of his events were canceled by the authorities. So he pivoted.
He invested $9 million into building a studio that would deliver an unbelievable video experience – and held his first paid event ever over Zoom.
My wife and I attended – and yes, we spent 12 hours per day, for 4 days, in front of Zoom (hooked up to our TV).
We weren’t alone. There were 30,000 attendees at the event – triple the number of people Tony normally attracts to this event.
But more importantly, all of his upsell events are now virtual. His signature Date With Destiny – which was featured in the Netflix documentary I Am Not Your Guru – will be online.
So will his other seminars on health, wealth, and business.
But he’s charging the same price for an online event as he did for an in-person one.
However, he doesn’t have to deal with any of the overhead – the rental of the place, the insurance, the staff, the food, etc.
And he can accommodate ten times more customers than before.
In the span of 6 months, a man who’s held in-person events for 43 years, without ever missing one – went entirely online.
To me, his pivot is an amazing example of recognizing reality and dealing with it effectively.
At this pace, I have no doubt he’s going to keep dominating the personal development space, even as much of it goes online. His content is still incredibly valuable – and he’s a world-class marketer and innovator.
Yet so many entrepreneurs and investors, unfortunately, choose to ignore reality because it’s uncomfortable, or not in alignment with their beliefs.
They think their business ‘must’ survive because it has for the last ten years. They think their investments must return them 10% per year, safely, because their parents got 8% on bond yields alone.
They refuse to believe their pensions will not be there for them because that’s what they were sold on decades ago, or that entire industries will disappear (and appear) in the next decade.
They don’t want things to change, because that means they’ll have to change.
But the truth is that reality has changed, dramatically. COVID has accelerated a new era to which businesses, investors, and countries must adapt.
Those who adapt will thrive, and those who don’t will wither.
So ask yourself this: are you adapting to the new reality, or are you still stuck with your head in the sand?