Short Summary
This episode of the “Business Coaching Secrets with Karl Bryan” highlights the importance of identifying ideal clients and tailoring coaching services to meet their specific needs. He talks about the significance of focusing on key areas such as revenue, expenses, lead generation, conversions, and operations to drive success. Additionally, Karl discusses the benefits of incorporating AI in coaching practices to enhance efficiency and reduce administrative burdens. Furthermore, the conversation delves into the significance of targeting businesses that have experienced growth but may be vulnerable during challenging times. Throughout the discussion, Karl Bryan draws inspiration from role models like Michael Jordan and Kobe Bryant, who epitomize consistency and hunger in their respective fields. Their unwavering dedication serves as a testament to the power of perseverance and ambition in achieving greatness. Overall, the podcast provides valuable insights and strategies for business coaches looking to excel in their profession and help their clients succeed.
If you’re interested in becoming a high-paid coach and consultant, contact us today at Focused.com and learn more about this exciting opportunity.
Also, check out the podcast on Spotify to hear it for yourself!
Main Article:
In Episode 203 of the “Business Coaching Secrets with Karl Bryan,” Karl discusses several key factors for identifying an ideal client, including the client’s high unit of sale, hunger for success, compliance, and niche specialization. He suggests that coaches focus on eliminating distractions and unnecessary tasks to maintain their own focus and help their clients achieve their goals effectively.
Karl also suggests five areas to focus on when trying to get quick results for a client: revenues, expenses, accounts receivable, inventory, and accounts payable. By reviewing a client’s financial statements and adjusting these areas, immediate cash flow improvement can be achieved. He also advises simplifying the focus of a business into three baskets: generating leads, converting leads, and fulfilling those commitments. He suggests that clients often overestimate their conversions and lead generation capabilities and advises taking a closer look at these areas. Additionally, Karl recommends evaluating a client’s operations and management of operations to determine if they have the potential to become a membership/recurring sales company. Finally, he suggests offering products or services with a 50% margin and at least three pricing options.
In this conversation Karl also discusses how AI can be useful for business coaches to get more clients. He explains that AI can help coaches become more knowledgeable and efficient in their work. For instance, AI can automate routine administrative tasks like appointment scheduling and patient communication. AI can also help in analyzing records and dental images. The automation of simple procedures can free up coaches’ time to focus on more complex and profitable areas. Karl Bryan also highlights the need for professionals to embrace AI to increase efficiency and reduce administration costs.
Karl Bryan and RodeDog also talks about which businesses are likely to stand the test of time during bad times. They suggest that industries that have had nothing but good times and have experienced major wins over the last three years, such as real estate, financial planning, and digital marketing, are the most vulnerable. They also suggest that it might be a good idea to target businesses that have been in business for five years or less, as they do not know what a bad time is and could be scared into taking action to prepare for the future. Finally, they suggest that holding a live event could help identify the ideal client, as those who show up demonstrate that they are hungry and want to grow their business.
Before the podcast ended, they also talked about the importance of consistency and finding motivation from role models who exemplify it. The primary focus is on Michael Jordan and Kobe Bryant as role models for consistency and hunger. Karl Bryan expresses his admiration for both athletes and how their drive to be the best inspired him. He believes that Jordan’s hunger for success was a key factor in his consistency, while Kobe Bryant’s unwavering commitment to excellence made him a paragon of consistency. These athletes serve as examples of how dedication and a relentless pursuit of greatness can lead to remarkable achievements.
In conclusion, this episode of the “Business Coaching Secrets with Karl Bryan” highlights the importance of identifying ideal clients and tailoring coaching services to meet their specific needs. He talks about the significance of focusing on key areas such as revenue, expenses, lead generation, conversions, and operations to drive success. Additionally, Karl discusses the benefits of incorporating AI in coaching practices to enhance efficiency and reduce administrative burdens. Furthermore, the conversation delves into the significance of targeting businesses that have experienced growth but may be vulnerable during challenging times. Throughout the discussion, Karl Bryan draws inspiration from role models like Michael Jordan and Kobe Bryant, who epitomize consistency and hunger in their respective fields. Their unwavering dedication serves as a testament to the power of perseverance and ambition in achieving greatness. Overall, the podcast provides valuable insights and strategies for business coaches looking to excel in their profession and help their clients succeed.
If you’re interested in becoming a high-paid coach and consultant, contact us today at Focused.com and learn more about this exciting opportunity.
Also, check out the podcast on Spotify to hear it for yourself!
Transcriptions:
Intro 00:02
Welcome to Business Coaching Secrets with Karl Bryan. If you want to attract new high end coaching clients, fill live events and build a wildly profitable coaching practice where business owners pay, stay and refer, you’ve come to the right place. In this podcast, Karl provides his keys to the kingdom for finding and signing high paying clients and building the coaching business of your dreams. Here we go.
RodeDog 00:43
Ladies and gentlemen, boys and girls, coaches around the world, welcome to another episode of business coaching secrets. It’s your boy the RodeDog, with none other than the man, the myth, the Caribbean legend, Karl Bryan is in the house.
Karl Bryan 00:56
Like that one shoots, buddy. Well done, man. I was cruising along on a Disney cruise in the Caribbean islands. Where did I go? St. Thomas, Castaway Island. Another one, I can’t.. Tortola Tortola never heard of that. Anyways. Yes. So..
RodeDog 01:17
The question I have for you, because knowing you, did you try to negotiate your way up to try and steer the vessel? Did that happen?
Karl Bryan 01:28
No, I did think of getting the sage in there, though. I didn’t think about it.
RodeDog 01:31
You know, it’s just just one of those things bud, I just had a feeling you were probably trying some negotiation too. It’s funny. You always just say that’s for sage. Really? Really? Is it though? You know, it’s okay bud, it’s okay.
Karl Bryan 01:49
Last time we’re in a plane, I had actually not the last time but we had her in the cockpit. Truthfully, I knew the pilots. So maybe there’s a little bit of a, I had a bit of an advantage. But I got her in there sitting in the pilot, in the pilot’s seat. So, there you go shoots.
RodeDog 02:02
There you go bud. There you go. You’re big. You’re a big deal. For those of you that don’t know it. This guy is the biggest shooter like that I’ve ever met. It’s unbelievable. Hey, listen, we had a lot of success, a lot of good feedback on our rapid fire sort of questions when I just fire the match in. You don’t take 25 minutes to answer one. I always joke folks that it’s like oh okay, well, Karl’s got that. Great. I’m just gonna go do the dishes and you know, vacuum the house before I get to the next question. But anywho I just thought maybe we could do some rapid fire if you’re if you’re down and game for that.
Karl Bryan 02:40
Do it shoots well, it’s yeah, I’ll do my best to keep it tight. Promise.
RodeDog 02:46
Famous Last Words, famous last words. Alright. Um, I say, ideal client. What do you say?
Karl Bryan 02:56
You say ideal.. ideal client? Yeah.
RodeDog 02:59
Yeah. Just like that.
Karl Bryan 03:04
What if I’m not ready? No. Ideal Client. Okay, so you’re a business coach. Look, here’s a question which client is more likely to stay long term? If you had a client with a $20,000 unit of sale? And let’s assume that there’s $10,000 of gross profit there. Or like, let’s say that’s a roofer. So a roofer, they charge 20 grand for a roof on average, and it might be more and it might be less just play with us. And then there’s $10,000 of gross profit, is that client going to stay longer or a massage therapist where they charge $100 a massage? And let’s assume that there’s, you know, there’s $80 of profit there, right? Maybe even 70 depends upon overheads and gas and whatever they’re doing. Anyways, no doubt you’re thinking high unit of sale. One of the things you want as a coach is you got to make sure that your clients have let’s just call it a $25,000 unit of sale with 50 plus percent gross profit margin. If your client doesn’t have it, let’s assume it’s a chiropractor. You want to help them create it is one of one of not the first order of business but one of the first orders of business. So high unit of sale RodeDog would be part of it. Also, look, what’s the.. what’s the number one characteristic of a super, let’s call it a world class performer and that’s the Jordan, that’s the Oprah, that’s the Steve Jobs, it’s Lebron James, it’s Roger Federer, it’s Michael Schumacher, etc. What’s the number one trait of those guys and the answer is hunger. So I want to like do I have.. I had a conversation one of my staff earlier today. To say she is hungry, would be like understatement on steroids, and it’s just like okay, we gotta find, like, if you have somebody who’s super duper hungry, what do you got to do? And you got to find a bigger role for them. Right? So, so answer, I want to know that my client is hungry. Presumably, that’s something you kind of flesh that out, they’re not going to wear a sign or have it tattooed on their forehead, but through some Q&A. Okay, so what are your current revenues? They say, 1 million, what’s your.. what’s your goal? I don’t know that I want them to say a billion because I think they’re totally unrealistic they go from a million to a billion is a bit of a joke, right? Like, again, a million seconds is eight days, and then a billion seconds is 32 years, sort of pretend like you’re gonna go from a million to a billion, I think they’re delusional, that’s not what I want. But to go from 1 million to 10 million. I think that that answer comes from a client who’s hungry. And when I say jump, they’ll say how high instead of why. Speaking of that, I want my client to be compliant. I always, when I signed up retail, what I’d refer to as a retail coaching client, but like a coaching client, that’s like paying a monthly fee to do you know, weekly, bi weekly, and monthly calls with me. They had to come to a live event, they had to see me do a live event. And for the simple reason that I found that those clients were significantly more compliant, right, like he get it like, again, I say jump and they’re not like going, Hey, why and want to question everything. And not that I want Yes men or Yes women either, because I do want somebody, you know, with some leadership skills, but hopefully you’re getting that I like the idea of them being compliant. And then RodeDog, I would maybe finish that off with niche. So, who am I going to go to do what I mean? Like I have absolutely no experience in you know, like, let’s just use manufacturing as an example. Like, I’m not like a manufacturing guy. So therefore, I don’t think that I would go and pick a niche in manufacturing. So what I would do, like, I used to own a sports stadium, I could go and help a sports stadium falling off a log. And I dare say that, you know, this guy or gal could be in business for five years, and I could walk in there, even though it was decades ago that I owned it. I feel like I could walk into that sports stadium and in many ways, know more about the company than or the industry in the company, and then running a profitable sports stadium. And they do. By the way, that might sound a little overconfident. But hopefully you get the idea that I am stupidly competent, that I can help a sports stadium like falling off a log, that would be a good niche for me. Why? Because I have experience. And I have expertise. And the other question is, do I have passion? And the answer is at this current stage in my life? The answer is no. So I am not going to help a sports stadium anytime soon. But I will help a business coach because that’s where my passion lies. But my way of saying shoots, I would encourage them to think about going to a niche. And then when they’re thinking about what kind of niche I’d be thinking about what are my passions? What are my experience? Tell me? And what does my expertise, tell me? So that’s my answer shoots ideal client. But the biggest, a big one is a high, I don’t know, high unit of sale, going to the financial planner, going to the mortgage broker and having them cancel in 90 days. It has a little bit to do with, they gotta get a lot of action to cover your fees. So sometimes it ends quickly. So that’s my answer shoots.
RodeDog 08:28
Speaking of a guy who likes a lot of action, there you go, shoots. Hey, listen, by the way, you talked of hunger. I just want a quick aside on that. Do you find that sometimes when you have those clients that have a lot of hunger, that they, they try, like pretty much everything is half the battle, just getting them focused on doing the right things rather than doing everything?
Karl Bryan 08:49
Yes, yes. And yes, good good point by the way, I like that. Look, if you really think about focus, like it’s just about eliminating , you know what I mean? As suppose to getting.. rather than trying to get focus, which can be really hard, right? RodeDog you know, that I know that anybody listening out imagine knows that. So rather than thinking about I got to get focused, what you got to do is eliminate things, Right? Like, we often talk about, like, you know, like, the amount of time that you light on fire, deciding what to eat would blow your mind right? And not to mention getting the groceries and driving to get the groceries. You know what I mean, and then getting them in the freezer and getting them in the fridge and then going oh, what are we going to eat honey? What are you going to eat? And they go what do you feel like? And it’s just around and around? She goes, having a pre-planned meal for seven days, like seven days in advance. It just blow your mind how much time, energy and focus and it will save you and then you can take that time and channel it into you know running your business or you know, we talked about driving a car again like Uber, like, you know, there are very successful business people who have, you know, if they have a driver and they have a car waiting and they get in the car they would never, ever think of getting in the driver’s seat, because they’re sitting in the back with their phone with their laptop working, while they’re, you know, fighting traffic, etc. That’s an exam.. which by the way, is that realistic for somebody listening? Maybe, maybe not. But I will tell you that focus rather than thinking about focus and thinking about dialing in and getting focused, if you think about elimination of everything outside the goal, if it doesn’t make the boat go faster, as they say, just do your best to eliminate delegate it or completely, you know, put a line through it. I think that can be helpful. So yeah, shoots, somebody who’s hungry could have like that multiple streams of income and add type thing going on. And you got to channel it.
RodeDog 10:44
Yeah. I know all about that. Shiny Object Syndrome, buddy. It’s a real thing, right? Alright, I got one here for you, need to get results for a client in record time? What do you do?
Karl Bryan 11:05
Look, okay, so let’s just, let’s just assume that this is. Let’s assume this is a company doing 500 grand for sake of the argument. I just.. look, I go to look, reven.. real simple. Gotta go to five areas on their financial statements, by the way, look at their revenues. How do you jack them up? Look at their expenses, how do you decrease them? Look at their accounts receivable. And do they have a problem there, if they do stop everything and solve that problem, and you’ll pay your way immediately. Look at inventory which they may or may not have it, look at inventory. And then and the last one is look at accounts payable, which by the way is not going to be on the average person’s radar. But again, that, that sweetheart syndrome is the accounts receivable and accounts payable issues where you forget, you know, you’d never want to collect your money because you don’t like to bother people. And then you want to pay everybody upfront because you don’t like to be in debt. Just imagine what that’s going to do to your cash flow. So what I just did, if you introduce me to a business that says, Wow, I have this profitable company, but where the heck is my cash, there’s five areas you look and it’s revenues, expenses, accounts receivable, inventory, and accounts payable. So if you want to get a client results immediately, putting cash in their bank account is kind of where my mind went. So that, those are the five areas that I would be looking at, and they’re doing 500 grand. And by the way, they might be doing 5 million, they won’t be doing 1.5 million, they might be doing 500,000. But this is.. I’m looking at their financials and going there, nothing.. you don’t need to be an accountant to do what I just described very, insanely easy. And then three, so I think I dummy this down and I go three, I would say like three baskets, like with our company Focused.com. We help coaches we help them in three areas, we help them generate leads, we help them convert those leads, and then we help them fulfill on the coaching commitments from those conversions, right? Leads, conversion, fulfillment, I think with your client, if you dummied it down and a more complex business might need to, you know, alter those slightly, but most companies should be pretty close. You might call fulfillment throughput, by the way, but follow me just look at lead generation and how are you helping them there go to conversion? Like what kind of conversion do they have. And you’ll always.. look when you speak to a business owner and you ask them their conversions. Almost always 50% is as low as you’ll hear,75% I’ve heard 100% at different times, you know, and like lots, when you really do the math, it’s closer to 25%. So there’s a really, really good chance that they’re completely out to lunch, on their conversions. And by the way on their leads, the amount of leads that they’re.. they’re bringing in, the conversion that they’ve got on them. Rather than take them at face value, do a little bit of homework there, have them do a little bit of homework, you know, put together a spreadsheet and just be able to, you know, weigh all that and then fulfillment, you know, like how good are they at actually doing the thing you know, and do they have upsells? I would help them create that. Have a look at their operations, look at their management around operations, generally speaking, pretty average, like are they retaining clients? Do they have the opportunity to turn what they have into a membership/recurring sale company? I’d absolutely be you know, helping them in that regard. Example, a chiropractor. You put a chiropractor on the phone and I’ve said this many times right? But this is very consistent with a lot of businesses, dentist as well. You go to a chiropractor, you get short term relief and you stop coming, right? The chiropractors got to create a better model than that. Otherwise, they’re just going to be frustrated, like crazy. And then the dentist is the exact same. You come, you get your teeth cleaned, they go, you gotta come back in six months, you say, Great, I’ll see you in six months. Next thing, you know, 18 months later, you still haven’t get your teeth cleaned, and you would have happily done it, you just, you just didn’t think of it or you missed the appointment. They didn’t follow up, you know what I mean? Like, that is really, really important that falls into the fulfillment basket. So that shoots, and maybe, actually I said this in the ideal client thing, but like, do they have a 5,000, a 25,000 and $100,000 offering. And remember, need to have at least 50% margin. So I don’t want you to have a $5,000 unit. And then it costs 4,000. So they’re making a grand and think that we got anywhere, right? So like, You got to have at least 50% margin. So do they have a $5,000 product? Do they have a $25,000 product? Do they have $100,000 product? Help them create that. An example, top of mind, okay, so you got a networking guy, let’s say that your client is a networking group? And then you okay, what do I buy from you? And they go, Oh, it’s a $1,000 12-month membership right? So my question is, for the networking group, do they have a $5,000 Platinum Membership that gets them extra benefits? They get some exclusive.. exclusivity that they otherwise can’t get? And do they have a $5,000 thing? And most networking groups, private ones will not? And you help them create that, again, the chiropractor I mentioned earlier, do they have a $5,000? Or $25,000 unit of sale? And the answer is no. And then they’ll say yeah, but nobody’s gonna buy the $25,000 unit of sale. The reason they can’t sell it is because they don’t have an educational process built into their sales process and their business model. But chiropractors all over the world sell $25,000 products all the time. So anyways, shoots. If I wanted to get results for a coaching client in record time, those, I’m sure there’s a lot more but those are some of the things I’ve been thinking about maybe raising their prices, and lowering their expenses and kind of touched on that. But..
RodeDog 17:27
Everything you’ve just listed, there’s so much there. It’s almost overwhelming. It’s funny how it’s almost contrary to the question before, the, you know, getting focused, right? It’s like how can you? Maybe this is a good question, how can you become an ideal coach?
Karl Bryan 17:48
There you go.
RodeDog 17:49
Like, I think, is it just narrowing in on a few things that you just do so well, and then the other stuff is just gravy on top? Like, I just think that there’s.. there’s definitely something there right? Now, with that..
Karl Bryan 18:03
Yeah, keep going.
RodeDog 18:04
I was just gonna say with that said, this kind of leads into the next question, actually, because a lot, there’s a lot of things. And we’re hearing AI all over the place right now. Right, like chat GPT. Like, it’s just.. It’s everywhere. So I guess the question is, how can AI help you get clients? But I almost want to broaden that out a bit. Like how can AI just help you as a business coach, but let’s just start with the client piece. Maybe? Maybe just start there.
Karl Bryan 18:36
Okay. Okay, make sure.. so how does AI help you get? How am I going to use AI to help me get a coaching client? That it?
RodeDog 18:43
Yeah.
Karl Bryan 18:45
Okay. Well, become knowledgeable, would be my short answer. Um, in fact, you know what, I sent out an email, and it was like, it was.. You’ll like this RodeDog, but I made a funny like, so, you know, I have a very bent nose and a lot of fake teeth. That’s not because I’m strong. Anyway, so my dad used to always say that I had a I had a big mouth and little fists. Right? That’s like, how did you get eight big teeth? Oh, my kid he’s got a small fist and a big mouth but anyway, so I’m talking.. so, dentists and I have a bit of a love hate relationship. I’ve spent a enormous amount of time sitting in a dental chair so then what I basically said it like what are the pros and cons of AI for dentists and it’s like pros, I can’t remember all but it’s like, you know, there’s an appointment scheduling like the routine tasks that a dentist would have, right? Appointment scheduling, patient communication, for sure, especially like sales letters and you know, regular letters to go to and from, you know, answer common questions, management of medical records and analyzing dental images, for sure, right? You know, there’s going to be AI dental tools that are going to help with precision and accuracy in a very big, bad way, it’s absolutely going to be able to reduce administration costs. There’s got to be a way and again, I’m not a dentist, and I don’t know, but there’s going to be a way to identify dental issues, you know, easily, quicker, earlier and more accurately, right? Like those things are going to exist. But the question is, is the dentist, you know, like an old school dentist, it’s like the iPhone, you know, you’re gonna delay delay, delay, delay, delay, the adoption of it, or the dentist is and they’ll ask you, is that a good idea, right? But really importantly, positives for a dentist is it’s going to.. AI is going to be able to help with the simple, easy cases. And it’s gonna free up the dentist to do the more profitable and the more difficult stuff, which by the way, I don’t need to speak to a dentist to know, do you like doing the cleaning? Or do you like doing, you know, the more complex stuff and the root canals etc. And with 100% certainty, the dentist if you know, it’s a professional, and somebody who loves the craft, they absolutely like the more difficult stuff, which is going to be great. The same way like with an accountant, accountant, they hate taxes, and it drives them nuts. And just being compliant with the government getting these tax returns done, like they hate that, but they love helping their clients. So one of the things we do and why we have so many accountants that work for us, we go to the accountants and go like the compliant work, you want to be doing the higher level stuff, you want to be creating financial statements and helping them read the financial statements. And way more importantly, go and adjust these financial statements, so they end up with a significantly more profitable company. And then instead of charging $2,000 a year to the chiropractor, you can start charging $20,000 a year to the chiropractor, but actually work on the stuff you want to be working on. Right. So the AI is going to allow dentists to do that. And by the way, it’s going to allow accountants to do it as well, right? But they’re going to want to do that. So, the positives, I kind of listed a few but you know, those automated and routine type administration stuff, it’s going to take a lot of that, and the simple procedures, and the dentists are going to be freed up to do more profitable stuff. And then the negatives, though, again, positives, I would encourage you, I always talk about standing against, you know, like you make more of a statement when you stand against and when you sing Kumbaya, how wonderful everything’s going to be, how much of you’re.. going to be out there talking about the positives and negatives or positives of artificial intelligence, I would highly encourage you to be talking about the flip side of that. And that’s the negatives, right? And like, what is that, and I can tell you with 100% certainty, the initial cost to implement artificial intelligence and the average dental practice are going to be reasonably high. And is that going to accelerate them to adopt it? Or is that going to make them take pause? And then think about those that take pause? Are they going to be advantaged? Or the ones that go all in quicker, are they going to be advantaged over the long haul? And we know the answer, right? But it’s, it’s, it’s, this is psychology 101. To get over that, right? They’re going to lose a little bit of personal touch, that’s going to happen as well. But a real disadvantage and a negative is just the psychology. Like, without meeting the average dentist, like are they going to be really excited about the new challenge and the time consuming nature and the costly nature of adopting artificial intelligence? Or like I said a second ago, are they gonna run to it, the answer is obvious. And then if you could help them with that psychology and encourage them, you’d be doing real well, it’s going to increase competition as well, by the way, like, it’s going to enable people to go and use telemedicine and remote monitoring. So that, you know, is a negative, and I think that they should be, you know, I think they should be on point. So, I’m trying to think, there was some other negatives. I’ve literally wrote this last night, by the way, but Oh, privacy, like, like privacy, right? Like, you know, when you go to the dentist, you get to fill some stuff out. And then you get to like, talk about, you know, like some medical concerns or medical issues that you might have, like, you know what I mean? Like, that can’t be a fun thing to be writing on the dental dealio, what if that information became a little more.. you know what I mean? Like, that could be a negative for sure. So So the bottom line is RodeDog Okay, what did I just say? You want to get clients using AI? Like anything? Everybody loves the teacher. When you can educate people, you know, you’ll just go into a different category. In their, you know, in their what’s what am I trying to say they’re not attractiveness, but you know what I mean? Like their connection, their rapport that they feel with you. So I’d be educating them similar the way I just did. And I’m going to tell you what I said in the email is something to be effective. If I’m in a dentist and I spit, look, here’s some of the positives I see for you. And then here’s some of the negatives. And I listed, you know, like three and three, or five and five. I don’t know, whatever I say, after that, I gotta tell you, there’s a really, really good chance, assuming I’ve got some competence and some Mojo. But I say, look, if you’d like to get together for 15 minutes, I would be more than happy to provide you that 15 minutes. And you and I could chat about this a little bit more in depth. And you could speak to me a little bit about your concerns and what you’re seeing, and what you see, you know, with yourself adopting AI, and I would be too happily, you know, too happy to engage you. I think that would be a really easy call to schedule. And then by the way, I get them on the call. And I would very, very quickly, turn them from look, AI is great. And we should be on top of this. But hang on, let’s have a look at your current business and make sure that you’re operating on, you know, all cylinders, like let’s have a look at your pricing, let’s have a look at the model that you’re following. Let’s have a look at you know, your admin, you know what I mean? Like, basically, then what I’m doing is selling them on like in our world, we would get together and do 100 grand in 45 minutes without them spending an extra dollar on marketing or advertising via profit acceleration software and the Jumpstart 12. But ultimately, I’d be asking them questions, you know, do you have goals written down for your company? Do you have a sales process? Have you ever looked at your you know, your P&L? Have you ever you know, looked to tighten the expenses on your P&L and had a look at what kind of impact that would have on your profitability? I’m asking them questions around that. Do you have a.. Do you have a brand? When I look at your website? Does it look the same as your ad? And does that look the same as your business card? And the answer? Do you have a business plan? Do you have a marketing plan? I’m going to be getting like No, no, no, no, no, no, no. And that’s like little cut, little cut, little cut, little cut, little cut. So it’s really easy after that process, which is the one that we teach with the software to say, Look, do you want a little bit of help with all this stuff? And they’re like, oh, my gosh, I’m so blessed that you came into my world? Absolutely. And how much is it going to be? And next thing you know, you got a coaching client. So, shoots, there’s a few different things I would be doing with AI. But I’d be coming knowledgeable myself. Pros. Definitely cons in a specific industry. And all of which, you know, initial costs, personal touch, increased competition. This is going to be the same in like a lot of industries, do you know what I mean? So yeah, that’s my answer shoots. That’s what I would say. That’s what I would do. What do you think?
RodeDog 27:54
Real quick, it’s funny, you talked about dentists, I actually think it’s one of the most misunderstood industries because I’ve worked with dentists before. And it’s just everybody thinks that they’re rich and everything else. And it’s like, not typically the case. But I want to ask you, because when you’re talking about all the things that you can automate, right, it just reminds me of all the things that a lot of people just don’t do. So off the cuff question here, recessionary times. Okay, so in that time space right now, where there’s going to be a lot of shifts, what industry do you think has been the most complacent that is going to suffer the most?
Karl Bryan 28:32
And the question..
RodeDog 28:41
Totally putting you on the spot here, but I just.. By the way, do you have somebody I’m curious if you have somebody like, do you have a niche in mind that you’re looking? Dude, I always take a look at real realtors, right? When the markets’ good. It’s like, oh, this is mortgage brokers. This is the easiest business in the world, right?
Karl Bryan 29:04
Yeah, of course.
RodeDog 29:05
Times are good, interest rates are low. Like, it’s amazing how many people.. interest rates in Canada now going back up to for a mortgage, like five, five and a half percent right. So you and I, that’s, that’s still a good rate. Like that’s, that’s nice, right? To a lot of people. They’re like, Oh my gosh, 5% they never experienced 10 12% mortgage rates before, right. So I just..
Karl Bryan 29:30
I’m gonna answer. Just business. You know, what shoots like it’s almost like 80% of them because like, so what I’m going to say is that businesses that have been having major wins over the last let’s call it three years, like well, what does Warren Buffett say, he says when when the tide when the tide comes in, you see who’s got their pants down, right and like, so these industries like real estate, I think that’s a really good example. where they’ve had nothing but good times, good times, good times, good times, boom, they see some bad times, and you see who’s gonna stand the test of time. And it’s never very pretty, the exact same thing happens in the financial planning space. And the exact same thing happens in the mortgage space, to a lesser degree, but also like in the insurance space. I think digital marketers have absolutely had nothing but you know, like a field day for the last X amount of time. And I think, you know, again, starting to feel it, So yeah, that’s what I’m gonna say shoots. It’s just, I’m gonna say it’s like, 80. I don’t know if that’s the best answer, but it’s like 80% of them. But it’s just people that have been having a real easy run for a period of time. The worst.. like I literally said this earlier on a call with the staff member that was mentioned earlier. That’s like, really hungry, right? But I was like, oh, shoot, hang on. I just thought, Oh, I just lost it. Oh, guy just forgot it shoots I can’t remember. But, but anyways, I’m going to say 80%. Those that have had great times for the last three years have dropped the ball. Oh, my God, I can’t believe I forgot what I was gonna say here. But anyway, there you go shoots.
RodeDog 31:17
It’s this is just a seniors moment shoots, you’re getting old, You’re no spring chicken anymore. Listen, I’ll just say this. Do you think it’d be a great idea to go after any business that’s been in business for five years or less right now, because they don’t even know what a bad time is. And they have a feeling that something bad might be coming, but they have no idea the reality of what could actually happen? Like, I think you could scare the living crap out of these people. And actually, legitimately help them get prepared.
Karl Bryan 31:44
Like I would go back and we said earlier, but ideal client, like show me their unit of sale? Show me their margins? Do you have experience? Do you have expertise? Do you have passion around that? Are they hungry? You know what I mean? So I’d say yeah, but it’s a, what I would do is I’d put on a live event. And if they came, they showed up. That tells me that they’re my ideal client, because they’re hungry. They want to grow. It’s like, yeah, you know, a company whose advertising is always good, because they just wrote a check. They’re using their credit card to try grow their company. It’s like, that’s a good client to have.
RodeDog 32:19
And by the way, you talked about having plans and stuff. I’m just actually rereading the psychology of money. And one of my favorite lines out of that is a plan is only useful if it can survive reality.
Karl Bryan 32:34
Is that Jason Capital? Who is that?
RodeDog 32:36
No, that’s, hold on. Hold on. That’s my it is. Morgan Housel.
Karl Bryan 32:49
No, no.
RodeDog 32:51
Yeah, really good book. Really, really good book. I’m really enjoying it, again it’s just, yeah, it was the highly recommended to me. So. But anywho, so, there you go. shoots. That’s, that’s that. Should we do one more? How do you want? Like, I’m just looking at the clock here. What do you want it? Let’s do one more.
Karl Bryan 33:08
Let’s say one more.
RodeDog 33:09
We’ll just do one more and we’re done. Okay. Oh, boy. A big one shoots, a big one. I’m just gonna ask. I’m just gonna say one word. And I just want to know what you have to say about it. Nervous. I’m nervous. Consistency.
Karl Bryan 33:25
There you go. That wasn’t what I was expecting, was a bit of a, it was a buildup shoots. I was.. thrown. Okay, so consistency. That’s good. I like that. You know what? So, okay, consistency beats talent every day of the week, twice on Sunday. Okay. But you know what the problem is, consistency is harder, when you don’t have people clapping for you. Right? So then what’s that? So if that’s the problem, what’s the solution? Like, you know, what, you gotta clap for yourself. And you know what, that’s like, the hardest thing to do, right? And that’s just like, um, like, when we’re playing, like, you know, the NHL playoffs are coming up, right? And like, going to watch the games and like cheer. So people are like, cheering for their hometown team. And this goes for NFL and it goes for baseball. And it goes for basketball. And it goes for cricket. And it goes for your favorite tennis player and your favorite golfer, right? Like your.. you know, bated breath watching them, cheering for them, or it’s Tiger Woods or whoever. And then when it’s you, you’re not clapping at all, you know what I mean? And yet I really think you got to.. you know what I mean? We gotta adjust, like if anything, you’re going to adjust if you want for like, no doubt you agree consistency. You know, consistency beats talent, right? And you should because it does, but then it’s like, okay, like, I get that, but what’s the solution? And it’s like you clapping for yourself? You know what I mean? Like you acknowledging those little wins those little wins those little wins. But absolutely tracking everything, right? Like you want to change your life, your results, you need to change something you do daily, right? The secret of success are found in those daily habits, that daily routine, like, you know, this shoots, with the amount of time you spend in the gym and the amount of time you spend running, when you go to the gym and you don’t track your results. And then you go to the gym and you do track your results. Let’s just say you do one month of tracking results, and then you do one month without tracking results, the results on the month that you track are significantly with capitals, italicized, bold, better than the months when you don’t. Right. So what are you tracking? Do you know what I mean? Like do you have a scoreboard for your own business? Do you got like a, do you know what I mean? Like you have a world record week? Do you have like the number of leads you generated today, the amount of revenue you generated today, the number of joint venture.. joint ventures you formed today. And then every day giving yourself a score? Imagine what would happen at the end of 30 days, 60 days, 90 days, it blow you away? How many calls you made? How many times did you pick up the phone today? How many prospective clients did you speak to today? How many, you know, how many comments on social did you do today? I can’t remember what did Gary Vee say says, give your two cents 90, I might be messing it up. But it’s like two cents, give your two cents 90 times a day. And what he meant was make 90 comments on social and your two senses the comment. And at the end of again a day, a week, a month, 90 days of doing that many comments every single day, while according to him, and it worked out pretty well for him, you’d be really, really, really, really busy. So at the end of the day, consistency, you know, it’s absolutely hack, it’s like pro athletes are full of small towns filled with people that were better, that were faster, that were stronger. You want to know why it’s ensure there’s a little bit of luck. And there’s a bit of natural talent in there. But the truth is that the the the ones with talent, the ones without talent that made it to the big leagues don’t need to meet them to know that they had consistency. It’s like Michael Phelps shoots, right, like he came out. I mean, it’s number of years now. But he came out and he was like, like he almost didn’t swim in the Olympics. He was just so you know, depressed. And you you know what I mean? Really, really challenged individual which most super performers are very, very challenged individuals, right? Just get used to that, the surface and below the surface are two very, very different things. And he just said like, it was a total dog’s breakfast. But but but if you look at him, he had done so much training and was so consistent for the last, I’m gonna say fif.. I don’t know what it was, but like 15 years of training, that it really didn’t matter if he didn’t train the day or the day before the Olympics. And he still went on to win whatever it was an insane amount of gold medals. I mean, he’s won more gold medals than many countries, right. But at the end of the day, supremely talented guy. But if you asked him, and he’s lots of interviews out there, it’s just it’s the consistency, it’s the showing up every single day, multiple times per day, over, you know, a really, really long period of time. That’s the.. that’s the difference between Michael Phelps and the other swimmers that might have beat him when he was young, is he was talented, but consistent. And they were talented, but inconsistent. Boom. And by the way, Michael Phelps might not be the best example there. But no doubt everybody’s picking up what I’m putting down consistency beats talent. In the day, so that’s.. shoots but but being able to clap for yourself, and then knowing when to clap because you know when to cheer for your team. And that’s when the clock hits zero and you won. And you won game, you know, you win the.. you know, if it’s a seven game series when you won four games, you know when to clap. My question is individually, do you even know when to clap? And I think what happens is like, like, what’s the reward for the next level? And it’s a desire for the next level? Well, gotta be careful with that. Right? You’re not clapping for yourself. What do you think shoots? Do you like that? That’s.. I don’t know..
RodeDog 39:23
It’s sort of like, you know, you have yet to find a mirror that you didn’t admire. So it’s same sort of same sort of principle. Though, I want to ask you real quick though, who was your first role model in terms of consistency that inspired you to start being more consistent?
Karl Bryan 39:40
Oh, Michael. I don’t know if this is the right answer. But the the answer that comes to mind by a long way Michael Jordan, there was a time like, you know, you’ve seen my office down like my office in Canada, there is a picture of Michael, a picture of Steve Jobs up with my family. Might be a little embarrassing, but Michael Jordan was like right there and I there was a time when I was like really, really, really into Michael Jordan like I just, I just loved the guy. So his and.. I would.. his I don’t know that it was his consistency that drove me, more his hunger drove me, right? He was just so ruthless with wanting to be the best. But one of the things actually is our mutual buddy Hunsy. I actually sent them, this it was a while ago now, but like, you know, on my daily, I go to my calendar every single day. It reminds me to watch a Kobe Bryant, 15 minute Kobe Bryant video where he’s getting interviewed. And he’s, he’s just talking about just, you know, level of hunger and has.. you know, has no interest in you know, being mediocre at anything. And when he did something he did 100 miles an hour, specifically basketball, by the way. And so, so I’m going to put Kobe, Michael Jordan, his consistency and hunger, I really, really gravitated to do towards and absolutely inspired me. But I also just want to put the late great Kobe in there because he also, I think, I think if you put Jordan against Kobe, that Kobe wins in consistency, but I think Jordan wins in the hunger game. So, that’s gonna be my answer shoots.
RodeDog 41:17
Okay, so last.. real last question, I promise and then I’ll close this. Let’s do it. And that question is really simple. In the spirit of the NHL playoffs, the Leafs will lose in how many games?
Karl Bryan 41:29
Shoots honestly, they got a shot. Let me tell you. Let me the Bruins do not win the cup. They broke.. for non hockey fans, they have won. They have won like they broke the record for the most points in a single season of all time by an NHL team. But let me tell you when that happens, they peak too early. The Bruins do not win the cup, and I’m picking the Leafs shoots to win the cup. I’m serious. I really think they might think they can I think.
RodeDog 42:00
Removing your heart which is twisted in many different ways thinking that the Leafs actually have a chance at anything I agree with you the President’s Trophy curse is very much a thing aside from the Leafs, who’s, who do you got? Who’s your Dark Horse?
Karl Bryan 42:13
Dark Horse Dallas,
RodeDog 42:19
Really? Wow!
Karl Bryan 42:20
Yeah. Yeah, I think they have got a.. yeah, their goalie is unbelievable can’t remember his name but I saw him play last year and he was just a freak in the playoffs. He’s unbelievable. Yeah, Dallas I think they got a real shot shoots. They got a good team and..
RodeDog 42:37
Alright, well, there you go folks. You heard it here first, you know what to do when you know what to do when Karl says something typically the opposite happens when it comes to sports betting. So there you go.
Karl Bryan 42:48
We should tell it like my RodeDog my.. remember I’d put the like, I’d literally put this out there on Facebook, what is if you were to rank me out of a hundred at sports betting, a hundred am I right.
RodeDog 43:02
You’d be 102 out of 100 in terms of..
Karl Bryan 43:07
It’s embarrassing. It’s honestly embarrassing. I got it wrong so consistently, it was like..
RodeDog 43:11
You know what? Back to the same word that is brought up, consistency. If it’s one thing you are with your picks, it’s consistent.. consistently wrong. And on that note, folks, actually, you know what? No, we’ll cut it off there. That was I think a perfect ending throwing.. I started with throwing you under the bus and I’m going to end with throwing you under the bus. It’s just a real good day for me today, folks. So that is it, folks for another episode of Business Coaching Secrets with the betting man himself, definitely not the king of Las Vegas King Karl. But if you’re not on the inside and getting access to the stuff that he actually really know stuff about, or getting access to his daily emails, the pre show, want more information on profit acceleration software, visit Focused.com today, you’d be silly not to do that. And if you enjoyed the podcast, please share, leave a review, do all the things that you know that we’d want you to do. And that is it for another week and we will catch you on the next episode. And as I always say remember folks progress equals happiness. Take care everybody.
Outro 43:46
Karl Bryan built profit acceleration software 2.0, to train business coaches how to find any small business owner more than $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising. This becomes a business coaches’ superpower. So as a business coach, you’ll never again have to worry about working with business owners that can’t afford your high end coaching fees. Check us out at Focused.com.