PERENNIAL

SELLER
MEMORIZATION BOOKLET
Ryan Holiday
 WHY YOU NEED TO FILL OUT THIS BOOKLET!

Theory is useless compared to action.

WHAT YOU WILL LEARN:
This booklet is what will separate you from
1. We all want to create something timeless—an
everyone else.
IPO worthy business that will trade for centuries,
the great American novel...a movie that will define
The science is unequivocal: Learning science a generation. But no one knows how. We think it’s a
has shown that retention increases dramat- “stroke of genius” but this is not the case. Becoming
ically when new information is immediately a Perennial Seller is not an accident.
recalled (verbally or via writing), as well as
2. Fortunately, there is a formula for how to create
when it is practically applied to your life.
an amazing work or business that lasts. It’s not nec-
essarily simple, but Ryan has given us a step by step
guide for how to accomplish just that.
NOW WHAT?
3. If you put in the right hard work ahead of time,
Watch the video online or on your USB Flash and attack your project with the right approach—it
is possible to create a work/business that you can
Drive. die proud of rather than spin the hamster wheel of
“making money.”
Pause the video as needed to fill out the
booklet.

Don’t worry about finishing all at once. Stop.

Start. Come back. It’s all up to you.

Apply the techniques discussed in the book-

let to your life.

Notice the results. Then double down on

what especially works for you.

NOTE

You do NOT need to read Perennial

Seller to learn and apply its key points.
You should read it, but you don’t have
to.
 BIG IDEA #1 PERENNIAL SELLER

PRINCIPLE APPLICATION

The products, artwork and concepts that have stood Measure the shelf life of your creation, innovation
the test of time are referred to as Perennial Sellers. or art to determine if it’s the type of item someone
In the age of the Internet, we’re often drawn to ca- would return to more than once, even if it’s no lon-
tering towards fads and temporary sensations. In- ger trendy or brand new.
stead, we must think up a lasting creation that ad-
dresses universal desires.

In 1986, Ted Turner bought MGM and United Art-

ists for a little over $1.5 Billion. Overwhelmed with
debt, Turner sold the companies back to its origi-
nal owner. While the public ridiculed Turner, he
parted with most of the empire, only withholding
rights to classics including Gone with the Wind and
The Maltese Falcon. This canon built the foundation
of Turner Classic Movies—a channel with generally
universal appeal that spans several decades of cin-
ema. He built a multibillion-dollar empire on pe-
rennial sellers—not only right in front of people’s
noses, but while those people were turning up their
noses at him.

“Creating something that lives—that can change the world

and continue doing so for decades—requires not just a
reverence for the craft and a respect for the medium, but
real patience for the process itself.”
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 SOME INFINITIES ARE BIGGER
THAN OTHER INFINITIES.

QUESTION QUESTION

How do you perfect, position and package your idea Does your product fit within the current market?
into a compelling offering that stands the test of
time?

I’d like to install sunscreen booths on public beaches so

irregular beach goers don’t have to spend a fortune on
one or two doses of sunscreen. I believe it’s a lasting
product, because people will desire sun protection even
more five years from now. It should appear eye-catching
to stand out in a beach setting—futuristic without being
unapproachable.

QUESTION

Will it still fit in the market ten or fifteen years from

now?

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 BIG IDEA #2 IDEAS ARE CHEAP

PRINCIPLE APPLICATION

The only ideas that pay off are the ones that you Think beyond the temporary, immediate dollar signs.
pursue and follow through on. Putting the blood, If making money is all you care about and making it
sweat and tears into your passion project is the only sooner is preferable, then a perennial seller is not
way that it will get off the ground. the path for you – but it should be.

Bringing an idea to fruition is hard work. A powerful

idea and a meaningful reason to do the work will
help you survive the existential crises that will un-
doubtedly pop up when the going gets tough.

If you worked for a venture capital firm and had to

bet on one of two creators, which would you choose?
The first creator has no personal investment in his
creation, but he sees the reality of what it can do for
him (make money). Or the other creator, who has a
product that will solve a problem that he has faced
his entire life? He says, “This is my life’s work.” You’d
go with the second one, right?

“Art is a kind of marathon where, when you cross the fin-

ish line, instead of getting medal placed around your neck,
the volunteers roughly grab you by the shoulders and
walk you over to the starting line of another marathon.
This is why intent has such a large impact on your ability
to persevere and survive. Because you will be tested. Not
once, but repeatedly.”
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 INTENT IS NONNEGOTIABLE

QUESTION EXERCISE

Why are you putting pen to paper and subjecting Sit down with a notepad. Commit to your idea. De-
yourself to all the difficulties you will certainly face velop a mantra based off the conclusions drawn thus
along the way? far to motivate you during crises.

I believe there is a truth that has gone unsaid for too long.

My family depends on it.

I know the world will be better for it.

I want to capture something meaningful.

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 BIG IDEA #3 FOCUS ON WHAT
WON’T CHANGE

PRINCIPLE APPLICATION

A creation designed for the whim of the current Ryan introduces the concept of drawdown peri-
cultural climate won’t last. By tailoring your concep- ods, a term coined by John Boyd. Boyd was a bril-
tion to address universal needs, you’re more likely liant strategic mind responsible for F-15 and F-16
to have a perennial seller on your hands. fighter jets.

Understanding that you may have to rebel against Once he experienced a breakthrough, Boyd would
what’s popular right now will buoy your confidence explore whether a similar line of inquiry already ex-
when facing lows. isted. He’d run the idea by more people, look at
existing material and walk through the potential im-
plications. This phase can last weeks, but ultimately,
after reflecting and thinking, one can decide if their
concept has merit or needs to be revised.

Passion and hype are dangerous. Do not rush into

developing an idea. If it’s truly original, the market
will wait—particularly if it’s well executed after sub-
stantial thought.

“If you’re going to spend the time it takes brainstorm-

ing, designing, and making something, it’s better if all that
work isn’t immediately made irrelevant by shifting tastes.
It’s better to play the longer game. Leave behind the hype
and ephemeral infatuations for the time capsule and the
one-hit wonders.”
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 THE PERMANENCE OF THINGS

QUESTION QUESTION

What loose ends do I need to tie up? Am I excited by the newness of my idea or by the
promise that it may actually work?
I need to eliminate some of my daily distractions to build
in time and mental space for this endeavor. I must eval- Enact a Drawdown Period: Lock yourself in a room, pull
uate whether this idea has been tested in the market the blinds and tune everything out. Spend days—weeks
yet—and if not, why not? even-- looking at your idea, testing whether others have
already come up with it, evaluating its permanence, iden-
tifying possible problems with it, etc.

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 BIG IDEA #4 STUDY YOUR GENRE

PRINCIPLE APPLICATION

By evaluating the current immovable parts of your Cirque du Soleil is a good example of a perennial
industry, you are more likely to understand what can seller that modified how the public conceived of the
be improved upon and what must stay the same to circus industry. Circuses remained quite predictable
remain approachable. in format, a circular ring with feats that defy imag-
ination. Cirque du Soleil kept general structures in
Not every convention is worth questioning, and, place such as clown and acrobatic acts, but it im-
questioning too many at the same time is confusing proved upon storytelling, original scoring and the
and overwhelming to the consumer. confines of the circus ring.

Evaluate if your creation remains familiar within its

industry and whether its disruptions still remain ac-
cessible for the customer.

“…you cannot violate every single convention simultane-

ously, nor should you do it simply for its own sake. In fact,
to be properly controversial—as opposed to incompre-
hensible—you must have obsessively studied your genre
or industry to a degree that you know which boundaries
to push and which to respect.”
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INDUSTRY INSIDER

QUESTION

What practices should be questioned and which

should remain sound?

I’m developing a business that will tank up vehicles while

the driver is at work. This will save drivers the anxiety of
locating a gas pump and the time usually spent waiting
for fuel. Until now, the gas industry has been relatively
unperturbed so I’ll want to keep a similar pricing struc-
ture—a per gallon metric.

ACTIVITY

What are other people in my field afraid to do?

Draw a Venn Diagram. In the left circle, write out ev-

erything that makes your product disruptive. In the
right circle, write out the traditional industry factors
that you are leaving behind. In the center, target the
overlap that will keep your creation familiar. Use the
Venn Diagram to evaluate if your creation is original
and familiar enough.

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 BIG IDEA #5 KEY QUESTIONS

PRINCIPLE APPLICATION

For any product, you must know what you are do- The War of the Worlds was an incredible disruptor
ing—and what you are not doing. You must also to the radio broadcasting industry. Orson Welles
know who you are doing it for—and who you are reinvented entertainment by narrating the first
not doing it for. two-thirds of the 60-minute broadcast as if it were
a news bulletin. It remained noteworthy because it
It’s rare for a singular product to satiate the needs of deeply scared people, but still remained familiar to
every audience. Understanding who you are tailor- those that were accustomed to radio broadcasting.
ing your product to and how it will satisfy them will
allow you to brainstorm alternative solutions, which Avoid any description that answers “It’s like ____
may prove superior even to your current product. but with _______.” This will ensure that your prod-
uct is wholly original. It will also prepare you to es-
cape from competing with dominant entities.

“Be both exotic and accessible, shocking but not gratu-

itous, fresh without sacrificing timelessness.”
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 FRESH, BUT FAMILIAR

QUESTION QUESTION

What dominant institution am I displacing? What is my customer paying for?

QUESTION

How am I different?

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 BIG IDEA #6 TELL A STORY FIRST

PRINCIPLE APPLICATION

Any creation should produce a resounding response Be clear and honest with yourself about where this
even before it’s off the ground—especially if you’re work is going to fit for people. Be prepared to go
targeting the right audience. back and refine the product itself.

We need to be able to put things into categories so

we know where they fit. Oftentimes, by trying to
include an additional audience, you lose a large part
of your existing audience.

Amazon promotes a culture of “write to think” which

basically addresses what one must fix or change to
create a successful product. To get the green light,
managers are required to write a press release about
their idea before it’s even off the ground. If they can’t
come up with a creative way to sell their product,
then they’ve saved time and money.

“Creators must know which conventions of the genre

they are observing and which ones they are taking a risk
on by tweaking or subverting. They must understand—
even if it is some vague gut notion—what they are making
and what they are aiming for. If they do, the rest can be
lined up against it.”
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 HERE’S MY PITCH

EXERCISE QUESTION

One Sentence, One Paragraph, One Page. Would your one sentence capture an investor’s at-
tention in an elevator? Why?
With fresh eyes, write out exactly what your proj-
ect is supposed to be and do in—one sentence, one
paragraph, one page.

This is a _____________ that does __________.

This helps people _________.

QUESTION

What do I need to change to get where I’m trying

to go?

When you pitch your product, what does the pro-

spective customer hear?

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 BIG IDEA #7 GET FEEDBACK

PRINCIPLE APPLICATION

Seeking out feedback is essential—but also danger- Have a clear idea of what you’re trying to accom-
ous. Conflicting, contradictory notes can be simul- plish, so you can intelligently parse the constructive
taneously ego-boosting or soul-crushing if you’re criticism you need from the notes you need to ig-
not careful. nore. Be prepared to find out that you’re not done,
that you may not even be close to being finished
When you are close to your own project, you lose (and that’s okay).
the ability to see objectively.

When Harper Lee submitted her manuscript to

her editor, she was sent back to the drawing board.
Her editor believed it was more of a series of anec-
dotes rather than a full-blown novel. That challenge
to create something better grew to become To Kill
a Mockingbird. Decades later, the former manuscript
was unearthed and published. Go Set a Watchman
was an incredible flop. We rarely get a peek at the
rough drafts, but know this, hits rarely resemble
the first stab.

“It is the creator’s choice at this critical juncture that de-

termines so much—whether the project dies right there,
whether it is changed beyond recognition by committee,
or whether it is transformed from a decent first attempt
into a masterpiece.”
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 FEEDBACK: BREAKFAST OF CHAMPIONS

QUESTION QUESTION

Who else will care about the painstaking details Does this person genuinely want me to succeed?
and the consistency and integrity and the other lit-
tle matters that add up to separate the memorable
from the mediocre? Who will give me great feedback
on my project? Why?

Is this person capable of delivering the truth to me in

a sensitive and compassionate manner?

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 BIG IDEA #8 MARKETING

PRINCIPLE APPLICATION

Accept your own insignificance. Use as many chan- Apple is an excellent example of a company that cre-
nels as possible to get your message out. Time your ates a high buzz around launch time. Months in ad-
launch carefully. Develop a fuss that’s quick and con- vance, they introduce their upcoming product line at
centrated. a Keynote. Consumers know the specifications and
the goals behind product improvement. Neverthe-
And of course – make it cheap. Most paid publicity is less, there are lines out the door just to get a look
overblown and unnecessary. and feel for the result. The buzz—the lines them-
selves—become the marketing story. Now, how did
Understanding that no one cares about your creation they make it approachable for the public? They intro-
as much as you do can humble you and motivate you duced payment installments and lower priced mod-
to put everything into the marketing process. els with the same software—allowing more custom-
ers to have it and word of mouth to spread further.
Get more comfortable with giving people a taste of
your creation at a highly reduced price. That’s how
you build an audience and gather momentum.

“Selling in perpetuity and launching strong are not mu-

tually exclusive. A fuss can develop slowly, but it’s more
powerful when it’s quick and concentrated… A proper
launch is very much in your control. It’s possible … with-
out a big ad budget, to kick off with an artillery barrage
of marketing—that is, press, interviews, news coverage,
social media buzz, preorders from your hard-core fans,
strong store placement, and everything else.”
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 CALL TO ARMS

QUESTION DRAFT A REACH OUT

What are we working with here? Who do you al- Hey, as many of you know, I have been working on
ready know? ______ for a long time. It’s a ______ that does ______
for ______. I could really use your help. If you’re in the
I can tap into my relationships (personal, professional, media or have an audience or you have any ideas or con-
familial or otherwise), media contacts and allies in my nections or assets that might be valuable when I launch
field. I need to consider who owes me favors. this thing, I would be eternally grateful. Just tell me who
you are, what you’re willing to offer, what it might be good
What are the tactics that were employed in past for, and how to be in touch.
launches of similar products (what worked, what
didn’t, what to do, what not to do)?

ACTIVITY

Lay out all names, outlets, promises, debts, etc. that

you could potentially call on before your product
releases in a spreadsheet. You can find one on the
What is my advertising budget? next page.

Is the length of your list a sign that you need to

go it alone and make up for this lack of resourc-
es with extra hustle and intensity? Or would wait-
ing until you’re better supplied and prepared make
more sense?

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 SPREADSHEET

QUESTION

Is the length of your list a sign that you need to

go it alone and make up for this lack of resourc-
es with extra hustle and intensity? Or would wait-
ing until you’re better supplied and prepared make
more sense?

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 BIG IDEA #9 INFLUENCERS

PRINCIPLE APPLICATION

Once you’ve created the best product you can pos- Drew Carey was your ordinary stand-up comedian
sibly make, find the appropriate influencers who can when he appeared on The Tonight Show. Only after
push your product. Though once you’ve roped them Johnny Carson offered him a seat after his set—the
in, think relationship first, transaction second. sign of a ringing endorsement—, did the power of
the influencer become clear. Every agent wanted to
Influencers are the best form of social proof that meet with Carey after that. He landed a develop-
your creation is worth paying attention to. ment deal with Disney. He starred in his own sitcom
that ran nine seasons. He currently hosts The Price
of Right. It all began with a nod and call-up from
Johnny Carson.

Research the people who have a hunger for services

like yours. Use a variety of tactics to draw their at-
tention. Find people inside and outside of your space.
Sometimes it’s helpful to be counterintuitive in who
you choose to market to.

“When you find an influencer who likes your product,

hold on for dear life. (Send them more stuff than they
know what to do with—chances are they have influencer
friends!). Always put yourself in their shoes: How would
you feel if everyone wanted a piece of you? How would
you feel if you got dozens of emails a day from total strang-
ers trying to trick you into endorsing products, essentially
for free?”
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 TASTEMAKERS AND TRENDSETTERS

QUESTION QUESTION

Who in my industry has a reputation as a tastemaker How do I draw influencers to my work and increase
or trendsetter? List them and their contact informa- my chances of endorsements?
tion:
Write a pitch email to these influencers and then –
In the publishing industry, I should ensure the most influ- SEND IT!
ential readers have a chance to review my book: Oprah,
Bill Gates, Mark Zuckerberg, Reese Witherspoon, Mindy
Kaling, Emma Roberts, etc.

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

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BIG IDEA #10 PLATFORM

PRINCIPLE

The same time that was spent on your creation should be spent on its marketing.
When that time winds down, you must trust your platform and word of mouth to
carry it forward.You must divert your attention to your next work.

The Internet favors people who can move horizontally and integrate vertically, those
who can create innovative empires, not just produce work.

When Kevin Hart was starting out, he wasn’t getting the roles and opportunities that
fit where he aspired to be. He decided to improve his platform so that he’d become
unstoppable on the road. At every small comedy club, his team collected email ad-
dresses from the audience. This way, Hart had fans mapped out so that his shows sold
out immediately, just after a singular email blast. Now, he’s one of the most successful
comedians on the big screen.

NOTE: You MUST create an email list that will grow

to sustain your budding empire. Build it now.

“Platform is not a stepping stone. It is the finish line.”

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 MAKE IT HAPPEN

QUESTION QUESTION

How do I build my own loyal audience? What is my How do I develop the body of work required to
advantage? Website? Advertising? Podcast? Blog? So- support my platform over the course of a peren-
cial Media? What can I do every day to improve my nial selling career? What is my perennial seller
presence? for this year?

QUESTION

Choose a tactic for building out your email list:

1) Give something away for free.

2) Do it by hand and use a clipboard at events.
3) Run sweepstakes.
4) Promise a service.
5) Put a link in your email signature.

Which will you implement?

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MY OWN NOTES

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MY OWN NOTES

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