Short Summary:
Coaching Secrets – Why Start Your Own Business + How to Work Yourself Out of Business . He discusses the primary reasons for starting a business, such as achieving financial and personal freedom, but cautions that it requires significant time and effort. Karl emphasizes discipline as a key trait for success and suggests focusing on systematizing lead generation, conversion, and fulfillment. He also advises coaches to prioritize referrals, offer free coaching for the first month, and understand clients’ financials to offer a money-back guarantee. Karl recommends investing extra cash in staff, buying in bulk with proper inventory management, and focusing on product, marketing, and sales. Overall, Karl Bryan offers practical advice for aspiring entrepreneurs and coaches to achieve personal and financial growth.
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!
Long Summary:
In a recent episode of Business Coaching Secrets with Karl Bryan, the host discussed the primary reasons for starting a business, which include achieving financial, lifestyle, time, and location freedom. While entrepreneurship can provide opportunities for personal and financial growth, starting a business requires significant time and effort, especially in the beginning stages. Karl emphasizes the need for discipline to be successful and notes that many entrepreneurs fail because they lack discipline in managing their expenses and taxes.
Karl Bryan also addresses the question of whether starting a business with the end goal of selling it is harmful or helpful. He believes that starting with the goal of an exit strategy in mind can hinder business growth, and owning a successful business is the best way to generate wealth and earn money for retirement. Karl suggests focusing on systematizing lead generation, conversion, and fulfillment, with an 80% emphasis on fulfillment once clients are acquired.
Karl Bryan emphasizes the importance of referrals, offering free coaching for the first month to gain commitment, and understanding a client’s financials to offer a money-back guarantee. He also suggests that coaches can gain confidence by preparing extensively before meeting with potential clients and writing down tangible ways to help them achieve their goals.
In terms of deploying extra cash in a business, Karl Bryan suggests investing in staff, buying in bulk with proper inventory management, and creating a management structure around inventory to avoid dead stock. He also advises coaches to focus on product, marketing, and sales, investing in word-of-mouth advertising, and hosting more events to attract new clients and gain referrals.
Overall, Karl Bryan offers practical advice for aspiring entrepreneurs and coaches, emphasizing the importance of discipline, systematization, and customer satisfaction for success.
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!
Transcription:
[00:00:02.420] – Intro
Welcome to Business Coaching Secrets with Karl Bryan. If you want to attract new high end coaching clients, fill live events, and build a widely 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.
[00:00:39.760] – RodeDog
Ladies and gentlemen, boys and girls, coaches around the world, welcome to another episode of Business Coaching Secrets with the man, the myth, the legend himself. It’s tough to do that without trying to cut you down in some way. It’s unbelievable. Karl Bryan is in the house, ladies and gentlemen. All four and a half feet of him. There he is looking handsome with his farmer’s tan.
[00:01:06.290] – Karl Bryan
There we go. I talked about that in the pre show. I have a farmer’s tan and it is an impressive one. By the way.
[00:01:17.930] – RodeDog
When we’re talking, you taking off your top. I don’t know if that is… Is that going to change the rating of the episodes that we got to report to Apple or how does that work? It’s hard to say.
[00:01:31.660] – Karl Bryan
That didn’t happen in the pre show, did it? That happened.
[00:01:34.950] – RodeDog
There you go. Hey, listen, I’m going to dive right in because the pre show went a little long today. And if you’re not in part of the pre show, stay tuned to the end and find out how you can learn more. How’s that for a plug? Hey, listen, shoots, I got to ask you, okay? Because somebody was asking me, Why would you ever want to start a business? Why would you ever want to do it all on your own and take all that risk? So I wanted to throw that your way and see if maybe you had a different insight on that. What’s the primary reason to start a business in your opinion? Yeah.
[00:02:16.440] – Karl Bryan
Look, I think options. You got options. You know what I mean? You want to move. I moved to an island. I had the option to move to an island. You want to buy a BMW? You’ve got the option to buy a BMW, assuming let’s go with successful business. It gives you options. You want to work 12 hours a day and make more money? You’ve got that option. If you want to work 4 hours a day, make less money, but call your own shots in that dynamic, you can do so. Again, I think, figure out your house. You got three bedrooms and you want five. Well, give you that option. Assuming again, I guess I’m assuming that you’re going to start one a successful one. Most people do is they go into business for money, for freedom, for time. And going into business because you want to have more time is like having a child so that you can have more time to yourself, not happening. Look, I think options, and I think, again, it depends upon who’s listening, we talked about different things that motivate people. There’s freedom for some folks, there’s mastery/status for others, there’s mateship relationships.
[00:03:40.950] – Karl Bryan
That can be a reason to go into business and form. The reality is if you’re a successful entrepreneur, your opportunity to maybe meet somebody of the opposite sex may or may not increase. But I can tell you, generally speaking, that would increase if you go by the numbers. And yes, there’s different reasons why people would do it. But ultimately, it comes back to freedom. It’s like freedom. You want financial freedom, you want lifestyle freedom, you want time freedom, you want location freedom. The way to do it is to start your own business. Work real hard. Remember, when you start a business, you’ve got an airplane and that airplane is stuck on the tarmac. I am not a pilot, although I think it would be very cool if I had flown a plane, but whatever in training and a guy standing beside me, that anything or sitting beside me, anything went wrong, he took over. But anyway, your airplane, it takes a lot of power and energy and fuel and focus and everything else to get that bad boy off the tarmac. But once you get it to 10,000 feet, again, my nine year old daughter could drive it, could fly the plane.
[00:04:52.350] – Karl Bryan
The trick is to get it up. So to go into business and think that you’re going to have all this time and all this freedom is semi ridiculous. I’m sure somebody could point me to the anomaly and the exception, but we play percentages in business. We don’t do anomalies. So you got to be accepting. And your client. But somebody wants to start a landscaping company, fencing company. It’s a chiropractor working for the man that wants to go out of his own. His airplane is going to be stuck on the ground, so you got to prepare them that they’re going to have to put an enormous amount of time. A reason that I would recommend to anybody to start a business would be taxes. But people don’t realize you go to school, you get good grades, you go to college, get your degree, you get a job, you make $100,000. Your dad gives you a high five and says you made it. But the truth is that people that make $100,000 do not make $100,000. You make 60 thereabouts. Because why? A little thing called income tax. The number one expense in your life, my life, RodeDog’s life, everybody we know’s life, is tax.
[00:05:56.620] – Karl Bryan
But we spend very… You line up 100 people and I ask them, What do you know about tax? And we’re going to have a whole lot of blank stares. So if 100 and 60, and depending upon the state and the country and the tax laws, etc, that will adjust slightly, but bank on something close to that. So if you were to have your own business and you brought in $100,000, we could assume that… Because when you work for the man, you earn money, pay tax, then spend what’s left. And if you’re an entrepreneur, you earn money, spend money, and pay tax on what’s left. And of course, some things you can’t write off. But as an entrepreneur, you’re going to be able to write off things like, in your home, you need a bathroom for your… You need a bathroom for your office, which is in your home. Well, now you can write off a good percentage of your house. Well, that washroom needs what? Needs toilet paper. It needs hand soap. It needs soap. Probably got a shower in there. You got a shampoo and conditioner. So you’re able to write off all those types of things.
[00:07:04.540] – Karl Bryan
You’re going to need some Kleenex. Said toilet paper, you need more toilet paper. It’s like COVID times. Let’s really hammer up the toilet paper. By the way, you got an office. What do you do in an office? Guess what? You’re going to eat, okay? And then you’re going to have snacks. Anyway, so you can write off a lot. So if you made $100,000 an entrepreneur and $100,000 gross revenues would be insanely low, you would be expecting to net, as in take home a vast majority of that. So let’s just assume that you made $100,000. Let’s say that if you took home $120,000 as an entrepreneur, that would be the equivalent of a $200,000 corporate job, which are pretty hard to find. So what am I getting at? Going into business, a good reason to do that is net income. I don’t think people are looking at it that way. And if I had somebody who I was speaking to that was 20, 25, 30 years old looking to have a family or had a young family, and they asked me the question, there’s no question. Those are the things that come out of my mouth, though.
[00:08:23.040] – Karl Bryan
Like options that you want to be able to watch your kid grow up. Well, when you got a boss, planes, trains, automobiles, think about the commute. But people don’t realize when you’re driving to work, it’s not just the drive to work, but it’s getting in the car, getting your act together, getting in the car, finding parking, parking spot not being in the right spot, getting out of the car, having to walk to the office, getting in the elevator. You’re not in the office for an hour a lot of the time. And that means that you’re not home for an hour at close of business. You’re lighting two hours a day on fire that you could otherwise be spending doing other stuff. And of course, now, post COVID, there’s a lot more folks working virtually. Actually, last week and the week before, we talked a little bit about that. But of course, there’s a hybrid going on where a lot of companies are giving their employees a little bit more freedom at the same time. You’re just not going to be able to operate at the same level. Example, I gave, but I’ll give it here really quick.
[00:09:19.740] – Karl Bryan
If you had a football team, a baseball team, or hockey team, if they did everything virtually, but this would just not work very well. There’s going to be a good portion of the week that needs to be spent in the office to make sure that everybody’s operating at the highest level. When you’re working for yourself, they tell you, there’s nobody to tell you that you have to get on a plane. There’s nobody to tell you you have to go to New York. There’s nobody to tell you you got to go to London. There’s nobody to tell you you got to go to LA. Because whenever you meet somebody who doesn’t travel for their job, they always tell you how wonderful it is. Oh, my gosh, that would be my dream. That would be so cool. Until you’ve done it, until you’ve sat in a hotel room in a city that you think is really cool, but you’re sitting in a hotel room and it’s nine o’clock and you’re dead tired and you got to get up in the morning and go back to work. It’s not nearly as exciting shoots. Anyways, make something great, do something cool.
[00:10:22.030] – Karl Bryan
I think that’s the reason to start a company is to do something really great. Great companies are built off the back of great products. And the more and more and more I get into software and whatnot, the more I understand that. No doubt you get it conceptually, as I say it. But I got to tell you, I’m understanding that at a significantly higher level. You get great products, they do the marketing for themselves. So anyways, that’s what I taxes and just options. What else did I say? Freedom.
[00:10:54.280] – RodeDog
It’s not all rainbows and unicorns. You just said, no one there to tell you what to do and what the… No one’s telling me to turn off Oprah, right? No one’s telling me to turn off Dave’s. There’s that danger as well. How many entrepreneurs do you think sit there and go, Man, I made 120 grand last year, but I got no take home. It’s just gross. I wonder what percentage that is. Probably far greater than we probably want to imagine.
[00:11:21.540] – Karl Bryan
Again, entrepreneurs famous for this, they’re spending their revenues and not realizing that they got some taxes and terms of 30 days, 60 days, 90 days. You know what I mean? The expenses and all of a sudden going, Whoa, where’s all my cash? So that’s where… So look, you need to be… So maybe again, the traits that you need in order to be successful, I think you got to be optimistic. I think an optimist will generally be significantly more successful than a pessimist. A pessimist will be right more often, right? But an optimist will be successful in business far more often. But where I want to go there, discipline. If you want to be successful in business, this is just something that I’ve always had. I’ve worked not from a home office for a good portion of my life. And I just don’t have a problem walking by the TV. I do not turn on Netflix. I wake up and there’d be 4, 5, 6 in the morning pretty early. Normally, say 5 o’clock would be my average. And I get straight to work and I don’t bat an eyelid. But I’m also very fortunate that I like what I do.
[00:12:36.120] – Karl Bryan
But RodeDog, you bring up a very good point. People start companies and they fail the majority of the time. They never get the opportunity to enjoy the things that we’re talking about, like the freedom, minimizing their tax position, etc. These options because they don’t have the discipline that can be bloody hard.
[00:12:56.100] – RodeDog
I want to ask you one other thing on this subject, actually. And I want to ask it from a the general standpoint, but also from a business coaching standpoint. Somebody starts a business, does it hurt them or help them to want to start it with an end of a sale in mind? You know what I mean? It’s like, I’m looking at this, I want to start this with a clear vision of an exit. Is that harmful or is that helpful?
[00:13:28.290] – Karl Bryan
I think it is. Look, this date, if you ask that question 10 years ago, you get a different answer. But I think, look, these guys will walk into a room full of VCs and literally part of their business plan is talking about the exit and how these guys are going to cash out. But I just can’t see how for the life of you, starting with how I’m going to exit this thing is a positive. I think that it hinders at a very high level. In fact, RodeDog, I might… Here’s a conversation. The answer is that I think it hinders it. But I’d also go here, and there’s a conversation that I had literally over the weekend on a boat cruise, by the way. Whatever that is, but it was fun. Here’s what, in Business Coaching Mastery, we’re in Mexico, we got our event, we got all of our clients there and whatnot, our high end clients. I go, Look, who wants to sell their company for five million bucks? And of course, all the hands go up. If I offered you five million bucks right now for your company, would you exit? Would you sell it to me?
[00:14:37.780] – Karl Bryan
And of course, all the hands go up, including mine. Five million bucks sounds like a great idea. Why not? Then I went, Hey, hang on. Let’s think about this. I’m going to give you guys, on average, depending on the company you’ve got, I’m probably giving you a two, three, four multiple. But I’m going to give you a multiple of five on earnings. In other words, this is a good business and this is one that the guy wanted. Well, if I gave you $5 million and it was a 5 X multiple, what were your earnings? And the answer is a million. Well, what that means is you were earning, you were taking home a million dollars a year in profits. And by the way, when I take $5 million, this is what I did with a whiteboard, but I’m like, again, we have to pay a little thing called tax. So wipe a mill, like one mill off straight away. You’re going to have to pay a business broker, investment banker, M&A guy or gal to come in and sell it. Five million bucks, that’s going to be $500,000. And then you’re going to have some debt.
[00:15:34.980] – Karl Bryan
You’re going to have some staff that you’re going to be laying off and you’re going to have to write a check to them. You could sell a business and get a $5 million check. You’re going to have some debt, I assure you. So basically, what happened when I subtracted everything, we ended up with about 2.75 million. Because you didn’t.. five million sounds amazing, but you didn’t do the math and you realized that it’s 2.75. Well, remember where we started? And again, the business owner is thinking this consciously, but they were making how much a minute ago? And the answer is $1 million a year. And then they’re going to exit for what? Net 2.75 million. Well, that’s like less than three years of profits that you exited in three years go by quickly, or does three years take a long time to go by? I think we know the answer. Especially as you get older, it goes by… Life is like a roll of toilet paper, which is what somebody very old and wise told me where the beginning takes forever and the second half goes real quick. So those three years fly by, well, you were making a million dollars a minute ago and now you got 2.75. And presumably, what you need to do is take that 2.75 and you’re going to need to put it somewhere to be able to pull earnings so that you don’t have to dip in and you don’t want to be living off your savings.
[00:16:54.930] – Karl Bryan
You don’t want to be spending that 2.75 to live in retirement. If ever there was a horrible idea, that’s a horrible idea. So you tell me where you can take $2.75 million and bring and pull a million dollars of earnings out of it, and you’re not going to find those opportunities. Those opportunities only exist in business. So wouldn’t this be a better idea? And before I finish here, I want to introduce you to something I have said for many years, and we’ve said it on the podcast a bunch of times. But it’s a saying that I have where old money equals never sell. Five very powerful words. Old money equals never sell. The Waltons, Sam Walton, Walmart never sold. The richest people in the world don’t sell. Let me say it differently. You probably know a family that has what’s called old money. You might not know them real well. You might know them from a distance. But if you introduce me to a family with old money, I will introduce you to a great grandfather and a great grandmother that had the balls to not sell. With that said, what should you do with this business?
[00:18:03.530] – Karl Bryan
Rather than sell it, again, you’re making a million dollars a year. Why don’t you bring a guy in for $100,000 to $250,000 a year with incentives, and then you become the chairman or you step aside because often these guys will sell the company. What do they do? They become a consultant. Well, rather than sell your company, become a consultant to your own company. And the guy who you hire for 1 to 250,000 dollars a year, plus, plus, plus, and incentivize with bonuses, his job is to do what? To earn more. So if you paid him 250 grand, you were netting a million dollars a minute ago. Now you’re netting 700 and 50 grand in your own company that is predictable, and you’ve got the ability should the tide go sideways or something go wrong, you can just step in and basically solve the problem and take back over and run with it and continue to earn a million dollars a year. Because after three years on the sideline, sometimes you like the idea of jumping back in. But anyways, you get that, RodeDog? Selling a company for five million bucks on the surface sounds amazing until you do the math and then matrix the situation and go, hang on a minute, was that really a good idea?
[00:19:19.140] – Karl Bryan
And by the way, depending upon where you at, what’s your health like? What age are you at? What stage of life are you at? You might be 85 years old and just over it. Living in Mexico and three million dollars is more than enough money for you to live like an absolute rock star for a solid 20 years. And it’s a different conversation. But I would suggest that most people in the room and business coaching mastery in Cancun and the people that we speak to are in a little bit different dynamic than that. And that shifts their paradigm. So RodeDog answering the question. I think starting a company with exit in mind, I think it’s a hindrance big time. I don’t know if it’s a horrible idea. Starting with the end in mind is a great idea. But I just don’t think the… Again, exit strategy is an inferior approach. You want to here’s what you want to do. This is what you want to help your coaching client to do. This is what I want to do. I want to own a company that I want to own forever, but I could sell tomorrow.
[00:20:24.120] – Karl Bryan
Now, that is a good roadmap to strive for. What do you think, shoots? I’m interested in what you think.
[00:20:31.760] – RodeDog
Because I’ve actually been thinking about this and it was one of those things of, Okay, so if I was to exit in five years, valuation, four times multiple, whatever the number is, how can I double that? I think maybe just even if nothing else, having the thought of if you were to exit the business, how could you in that time span, how could you increase your actual selling price? I think that’s a very healthy question to ask. But then the other one that I’m just thinking of now as I’m listening to you is, well, how can you, I guess, more efficiently work yourself out of the business while still retaining the business? That might be a better way to look at it. But I think looking at, again, knowing your financials, knowing what the business is actually worth. How many people actually know what… If you’re a business coach, the businesses that you’re coaching, do you even know what they’re actually worth? That would be an interesting way to look at it as well. If they were to put it on the open market, what’s it worth? I think that’d be a good metric as well.
[00:21:46.470] – RodeDog
Hey, look, I’ve been working with you for 12, 24 months. Your valuation of what your company is worth has doubled. That’s huge. I don’t know. I could see it both ways. But again, are you looking… Maybe if you’re in SaaS, it’s not a bad idea to probably have an exit strategy because SaaS gets replaced so often. If you can cash in, why not? Or are you looking at building a legacy type business, one that’s going to last for generations?
[00:22:14.390] – Karl Bryan
Again, I think you bring up a really good point, like talking SaaS. But again, the average coaching client is the landscaper. It’s the fencing company. And I think for them thinking succession, where passing it down to their kid or bringing in somebody who you really care about, you can come in, run the company, take the title of CEO, become an entrepreneur. They gift them a percentage of the company, call it 10%, so they become a business owner. I think it’s a superior roadmap than planning to exit. That’s what I say.
[00:22:52.070] – RodeDog
Now, to bring this back to the business of business coaching, you’ve mentioned before that there’s three baskets when it comes to business coaching businesses. What are they? Can you just break that down for us?
[00:23:09.270] – Karl Bryan
Yeah. Okay. So you’re going to bring in a CEO, what’s he going to work on? Again, your company, you want to systematize this thing, or you want to legitimately make a seven figure company and become what we refer to internally, our unicorn clients, right? They have million bucks. You got three baskets. You got lead generation, basket number one, pretty obvious. You got to get that line in the water. The second basket is conversion, and then the third basket is fulfillment. So again, our clients internally, we take our clients internally, we got 1,250 clients in 49 countries. What do we do? We help them with three things. We help them generate leads, we help them convert clients, and we help them fulfill their coaching. And I think that you can part to mentalize your coaching with those three baskets, you can make life so easy because it can just become all consuming. And by the way, if you think about building a successful coaching company that you’re dreaming about, you probably get hung up in basket number one of lead generation. And I can tell you, if the legitimate goal is hit seven figures and you were going to approach that number with a million % certainty, the bottleneck, the chokehold will not be your lead gen.
[00:24:27.730] – Karl Bryan
Frankly, that’s the most scientific and predictable. The thing that you can systematize better than anything else in the company, it will be the fulfillment that is the chokehold. That’s the one that takes all the time. You think how would you allocate the time?
[00:24:46.960] – RodeDog
If you put percentages to it, and I guess that would naturally change. As my client base, I guess, fills up, I’d be spending less time on the front end. I don’t know. If you had to put percentages to it, could you?
[00:25:06.620] – Karl Bryan
Well, I think when you’re starting, you’re going to go 80 lead conversion and then 20 fulfillment. Then I think once you got your client, you want to take 80% of the effort and systematize it by way of fulfillment. Then, by the way, have a growth loop and effectively you’re asking for referrals there because you get to that point, you really should be doing such a bang up job. But you just go to your clients and say, Well, okay, well, who wins when you win? Who wins? And then they’re like, So if I’m a carpenter, let’s say I’m building garages and building houses, think about the guy who sells wood down the road, where the more houses and the more garages and the more renovations I do and that I win, the more wood that I’m going to buy. So if my client is the guy who sells wood, I’m going to him and say, Look, recommend me to the carpenter because the same way that you and I are crushing it, your numbers are up, your systems are up, and everything’s working so much better than it was eight months ago. Introduce me to that guy and I’m going to help him do the same thing with his business and he’s going to become a better client to you.
[00:26:14.730] – Karl Bryan
So all of a sudden that falls into fulfillment rather than… There’s a lead generation component to it, clearly, but I’m spending my time in fulfillment and be killing it so that the lead gen looks after itself. It’s like RodeDog, Jeff Bezos, he’s looking at his financials, staring at his P&L, and he sees marketing. And let’s just hypothetically say, I get no idea what the number is, but he’s spending $10 million a year on marketing. And then he goes, Okay, and again, compartmentalized into this company. And he’s like, Hey, we got leads and we got people coming to the website and we got conversions and we got an inbuilt growth loop where when they buy this book or about to buy that book, we put the most popular ones right underneath that make sense. And then they got fulfillment. He goes, and what is fulfillment? And that is basically selling a CD, selling a book, putting it in the mail, mailing it to them and getting it to them as quickly as possible. So it’s got a similar dynamic to walking into the bookstore without having to leave the house. He went, you know what? What if we took the $10 million we’re spending on marketing, and then what if we just gave free shipping and accelerated all of that?
[00:27:36.170] – Karl Bryan
I wonder if that would create so much goodwill, so much word of mouth, so many more repeat sales that it would make up for the money that we’re making off the $10 million of ads and marketing that we’re running. When you think about that, as I say it, it might not sound that impressive, but if you really broke it down and looked at it, it’s like, Oh, my gosh. It’s just so intelligent. And that’s how you build a company with a growth loop and something like Amazon that just works so bloody well. It’s scary. And as you’re thinking about that, with the company, and maybe we’re going back to the guy who was exiting earlier. And rather than exiting, building a company, and you mentioned, build a company that’s systematized. Careful with systematizing, right? They say that systems set you free. The truth is systems stifle creativity in a real company. You want to hire professionals to make 100 grand a year and have engineering degrees and accounting degrees and want to be professionals, believe me, if you systematize them too much, they do one thing, and it rhymes with leaving. Because, again, they want to be able to make a difference.
[00:28:55.820] – Karl Bryan
At some stage, it becomes something that they want, and somebody else will head hunt them and give them an opportunity where they can be more autonomous and have what they believe to be important, rise to the surface and get created or implemented. So I want you to think about this as you’re thinking about building a company that you want to own forever but could sell tomorrow, you want to have three major shareholders. No, what do I want to say? Like, three people involved in the company that say own 10% each, or they’re highly highly highly incentivized to have it be successful. And that is a person in charge of sales and marketing, and then a person in charge of operations, and then a person in charge of legal and accounting. So I have three stakeholders, major stakeholders in the company. One is sales and marketing, another one is operations, and the other one is legal and accounting. And you’d have the makings of a very solid company that would stand on its own two feet that you can exit and effectively consult to and continually grow over time with the realistic measure. There you go. I’m going to go down.
[00:30:12.280] – RodeDog
This is something that rarely happens, but we’re going down a RodeDog rabbit hole here. You were talking about with Amazon, right? So they eliminated the shipping costs, which, by the way, you charge what, 10 bucks, whatever they charged for. It was like an absolute no brainer. They got rid of their biggest objection. I was thinking of Tony Hsieh and Zappos, right? Same deal. What did he do? Unlimited returns. They’re all like, What? You want to do unlimited shipping returns? He’s like, Yeah, well, women are very particular with their shoes. For a guy, it’s like, Well, it’s a little tight. Whatever. I’m not going to go through the hassle of returning the shoes, which is a lot easier for Karl because you just wears slippers. But again, what did he do there? He eliminated the biggest hurdle, the biggest objection of dealing with that company. So let me spin it this way, then. As a business coach, what do you think is the biggest objection? And how would you crush that objection right out of the gate to make an absolute no brainer to work with you?
[00:31:26.820] – Karl Bryan
Nice. It’s, well, okay, twofold answer. Number one is that they’re worried they’re not going to get there. More than of course, they want to grow their company, especially if you have something like our software. Well, it’s going to find anybody 100 grand in 45 minutes without spending a dollar on marketing or advertising. Imagine that they have the average 1 million dollar company with their landscaping, their fencing company, butcher, baker, candlestick maker, who’s not going to want that? The answer is, of course, they do. So the objection that they have is, will it work? And then the average business coach will automatically go to, well, that means that, am I any good? They’ll tell themselves. But the truth is, you know what happens more often than not is that they have that’s their objection, that’s their concern that it’s not going to work. But the problem is it’s them that they’re worried about. You know what I mean? Am I going to follow through? Am I disciplined enough? Am I consistent enough? When he says jump, am I going to say how? Or am I going to keep pushing back? I do with my daughter who works with me, my wife who works with me, my manager who works with me, the guy in the operations department, etc.
[00:32:42.840] – Karl Bryan
So what you got to do is you really have to sell them on the fact that I’ve got the experience, I’ve got the know-how, but most importantly, I am going to hold you accountable. I am going to hold your hand. I am going to care. They don’t care how much you know until they know how much you care. I am going to be there to see this thing through, and I’m going to make sure that you follow through because I’m going to hold you to task. Or in a situation where they’ve got a manager and they’re worried about the manager, or their son, a really great dynamic is where dad’s running the show, and then the son is the manager, the daughter is the manager. And it’s like, I’m going to hold them the task and you won’t have to worry about beating them over the head or, you know what I mean? Pounding them. I’m going to do it for you. But the bottom line is the biggest objection is, is it going to work? And then there are fears around that. But their fear is the natural inclination is to go to yourself and think, he’s worried that I don’t have the moxie, the gem, the know-how to help them.
[00:33:48.370] – Karl Bryan
But the reality is they’re more worried about themselves and their own consistency and their own discipline. And as far as like, Smashing Facebook. So let’s say that somebody’s like a brand new business coach. Just off, look, here’s the thing. So some people will tell you that you should never coach for free. It’s sacrilegious. You should never off a money back guarantee, all this stuff. You should never coach for free. You got to charge what you’re worth. There’s this guy named Tom Brady that’s throwing a football for free for a pretty long time, which rhymes about 24 years for free before he started to get paid and it worked out okay for him. So again, for you to go into a coaching client and you’re new coaching for free to get some jam, to get some experience, to get some runs on the board, to get some referrals, should absolutely consider doing it. Do you need to do it? The answer is no. Should you consider doing it? And if you’re brand new, absolutely. Especially when somebody has the ability to be able to teach you something. The question is, can that coaching client teach you something?
[00:35:00.630] – Karl Bryan
If the answer is yes and you’re new, you should do whatever it takes to get that coaching client, including coaching them for free for the first 30, 60, maybe even 90 days. Because remember, you got nothing but time. But tell them if I do a bang up job, all I want you to do is I want you to agree to send me a referral if I overdeliver and we accomplish these results that you’re talking about. And will that work out? You’ll have to do it 10 times to have it work for free. But after you’ve had 10 clients, guess what? You’ve now got a thing you didn’t have earlier and it’s called experience. And by the way, here’s the other bit of experience that people don’t talk about. Maybe you’re no bloody good at this. Maybe coaching is not for you. But here’s what I say. When somebody becomes a business coach, coaches 10 clients and decides to go and open up a different business or go back into the corporate world, they’ve actually succeeded because now they don’t have to die wondering, whereby they’re not actually designed for this. But, hey, so that’s a little bit rabbit hole ish, but let me just make sure that I’m answering this.
[00:36:04.560] – Karl Bryan
RodeDog, if somebody’s new to coaching and they want to make it impossible for this person to say yeah, say no, just offer a money back guarantee. One of the things I used to carry, I’ve said this on the podcast, many of times I had a check in my pocket and I was doing it face to face. And I did plenty over the phone, but predominantly face to face when we were coaching. I was closing coaching clients and then I was handing them over to my coach that was sitting beside me. Well, I would pull out a check and I would just say… Because it just became time. There’s a clock and at certain time they got to go, I got to go. You just got to pull… They need to make a decision. Remember, they don’t make a decision because they’re gutless, not because they need to speak to their wife or think about it. So take that attitude and that might help you. But I would just pull out a check. I would say, Look, does this help you? This make you feel more comfortable? Whatever number I was putting in front of them today, again, let’s just say it would be $24,000, $2,000 a month, 24 grand, which is a good roundabout number for a newbie type business coach, closing $24,000 clients.
[00:37:12.940] – Karl Bryan
I’d run a $24,000 check and date at this date next year, turn it around, slide it across the table, staring them in the eye, looking insanely confident and just saying, does this make you feel a little bit better? And it worked. You know what I mean? A money back guarantee is an example. Or again, look, money back guarantee shoots.
[00:37:38.870] – RodeDog
Real quick because I know we’re going down a rabbit hole and we’re going to go a little bit long here just for a second. So the best thing, obviously, is going to be confidence for a coach to have. I think we can both agree on that. Or as you call it, moxie. If you got moxie, you got confidence, you’re going to close. The quickest way to get that con.. Let’s just say, all right, Karl, I’m brand new, I’m going to go out and I’m going to say to somebody, look, I’m going to coach you free for the first month, and I’m going to guarantee you some results. And if I do, you’re going to commit to me for a minimum of six months, whatever it is, figure that piece out. You and I both know you’re going to go straight to the financials right out of the gate to find that. So it’s crazy because you know me, I would tend to go to the marketing because that’s where I feel most comfortable. But for you, you just know that it’s not sexy, right? It is just not sexy, but it is the place to go.
[00:38:44.400] – RodeDog
Where in the financials would you go first that within those 30 days you can show a tangible result for that business owner and be very confident that you’re going to get that extended coaching contract?
[00:39:00.050] – Karl Bryan
Two part answer. Number one, because I don’t want to forget, I’m going to come back to the financials in a second. What I would encourage, see, here’s what I would do to make sure that I am Uber confident and more than happy to offer a money back guarantee. And this is what coaches don’t do. So I say if you introduce me to a business coach with a lack of leads, I’ll introduce you to a business coach with a lack of confidence. So how do we bridge that gap? How do we make a coach confident? And this also comes back to something we talked about recently where Tony Robbins will tell you the most important thing. You’ve got an event and you need to speak in public. You’ve got an event, you’ve been invited. You got a podcast and you’ve been invited. You got a coach, you got a referral that somebody said, Hey, sit with this client. What would Tony Robbins tell you to do? And he would scream with spit flying out of his mouth, Prepare. You got to prepare. So if you’re sitting with a chiropractor, before you walk in, write down 50 ways you’re going to help a chiropractor.
[00:40:01.060] – Karl Bryan
And not horsepucky, write down their goals and time management 80 20. I mean, real hard, tangible ways to help a chiropractor. And then if it’s a landscaper, a butcher, a baker, a candlestick maker, you write down 50 ways to help that person before you walk in to do the diagnostic, which, yes, you may light some time on fire. But really, what it’s going to do is it’s going to have the exact opposite effect that you are going to be so confident you are going to have that moxie, you’re going to have your mojo, and you are just going to be like, you know what I mean? Imagine how excited you’re going to be for this guy to say yes or this gal to say yes because you’ve already got 50 tangible ways that you’re going to help them grow their business and all you’re doing is charging them two grand a month and 24 grand a year, how can you possibly not help this individual? So that’s a really important one. I think that before they even sit down with them… And again, you might have tons of experience, and that’s not necessary. But I would dare say that if you have tons of experience, then you’re about to walk into a dentist’s office, I say, Well, write down 50 ways that you could help the dentist.
[00:41:06.700] – Karl Bryan
I would like you to see to be able to knock off a good portion of 50 with a pen and paper before you even walk in, or you’re not as experienced as you think you are. I think, RodeDog, that’s a real important one. And if you do do that, you will write that check, you offer that money back guarantee, you ask for the referral so easily. Again, if you introduce me to a business coach with a lack of leads, I introduce you a business coach with lack of confidence. So back to the financials.
[00:41:34.050] – RodeDog
Hold on. Before you go to the financials, I just want to add this in real quick. So now imagine you’ve got your list of 50, and now you spend 15 minutes a day researching another two, right? Whatever. An additional couple of strategies. You have your list of 50. There’s 50 days worth of social media posts that you could put out just by adding value. And those 15 minutes you spend every day, now you’re adding to that list every single day.
[00:42:03.120] – RodeDog
There’s your game plan for online and adding value. Give it all away. Give it away for free. Because now all they see is you giving away value. I just want to throw that in there.
[00:42:13.730] – Karl Bryan
100%. That’s it. And that’s bloody hard. Yeah, 100%. Now, financials. Let’s go to that. So I want to stare at somebody’s financials. Where am I going to look? There’s a client that he says, I’m making all kinds of money. Where’s my cash? I’ve got these gross revenues. We hit a million dollars in gross revenues. We hit three million dollars in gross revenues. We hit $500,000 in gross revenues. We hit $10 million in gross revenues. Whatever the number is. But I got no plenty of cash. There’s five places that you’re going to find the cash. First one is revenues. You got to jack up revenues. There are expenses. You got to go to their profit and loss statement, go to their credit card statements, and go through it line by line, item by item, and just go, What can we eliminate? And then what can we negotiate? Now, negotiate, I want you to write that down. Capitalize it, italicize it, bold it, underline it, the whole nine yards. Negotiate. They’re paying five grand a month, 60 grand a year a rent. Go and speak to the landlord. They’ve been there for three years, five years, and on a month to month agreement with the landlord, go to them and say, Look, can we make this $4,000 a month, 48 grand a year, and I’ll sign another three year lease, somebody else is trying to take me two blocks over, quite frankly, in a bigger, in a better location or whatever and stay in integrity there.
[00:43:39.740] – Karl Bryan
But just go and negotiate. If you’re buying X amount of product from three different suppliers, consider going to one supplier, buying in bulk, and then also taking advantage of things like seconds and samples and that thing that they’ve all got lying around and give, frankly, give to their best clients. So the expenses just go line by line. And you can do it on the credit card statement. You can do it there in profit and loss and have a look at who they can cut out. The tech guys are doing this right now. Elon Musk bought Twitter, cut away 70% of the bloody staff. Guess what? The thing’s still running. Don’t think that Facebook and Alphabet and the Google boys aren’t looking at Uber or looking straight at them going, Oh, my gosh. They cut 75% of their staff and they’re still operating. Hang on a minute. Where can we cut some fat? And that’s what’s happening. And that is what’s happening right now in the tech world. And that is going to continue to happen, especially with Elon Musk and what he did at Twitter and it’s still operating well. And well was subjective, by the way, because someone will tell you they’ve lost a lot of advertiser.
[00:44:55.260] – Karl Bryan
Whatever. So you got to go to your expenses, you got to go to your revenue, you got to go to inventory, depending on what company, you go to their inventory. You go to the big one, big, big, big. Any account that will tell you this, go to their accounts. Receivable, just straight at their accounts. Receivable. There’s probably found money, money just sitting there lying dormant that they are not capitalizing on. Again, accounts receivable is normally a line item and it needs to be itemized. It needs to be dated. At 30 days, 60 days, 90 days, 120 days. If you have a big accounts receivable problem and you don’t write off as bad debt, your client pays tax on the money because that sits on the asset side of a balance sheet. Basically, they end up paying tax on money that they’re not collecting. Think about the stupidity of that. And by the way, they’re sitting there going, Where’s my money? Where’s my money? Where’s my money? Well, there’s your money.
[00:45:53.260] – Karl Bryan
The other one. Which normally doesn’t factor in most people’s world, but accounts payable. Your client, sweetheart syndrome is the person who doesn’t collect the money. In other words, accounts receivable problem and wants to pay everybody off straight away because they hate to owe money. They hate to owe money, owe money to anybody. And you ask that and be like, if you can get 30, 60, 90-day terms from suppliers, if your client does, that’s like walking into the bank and getting a free 30, 60, 90-day loan, interest free. And if the bank offered you $100,000 loan, interest free, you should go and really think long and hard about exercising that and just make sure that you give them back their 100 grand before the interest hits. But interest free money is good money. So that’s the other place. So accounts payable, people don’t think about that. They just want to pay it down, pay it down, pay it down. Don’t be in such a hurry. And that’s not in any way to suggest to you don’t pay your suppliers. That’s not what I’m saying in any way, shape or form. But what I am saying is being in a real hurry.
[00:47:00.620] – Karl Bryan
Again, Apple pay everybody on day 89. Why? Because they can. And they’re the most cash flush company of all time, they could pay anybody anytime they want. You got hundreds of billions of dollars sitting in a bank account. They could pay anybody anytime and they don’t pay for 90 days because they can. That’s the way they do it. And if Apple does it, your fencing company should probably think long and hard about it. Can I just.
[00:47:29.560] – RodeDog
Ask on that one real quick? I hate the fact that I’m leaving the rabbit hole charge. So you’ve got the accounts payable, you’ve now freed up cash, where do you deploy it, or do you?
[00:47:45.540] – Karl Bryan
That’s a longer… Look, staff, your greatest successes will come through other people. Inventory, buying in bulk as an example. When you hire somebody, what do you do? You hire somebody to go chase the money and accounts receivable, maybe. You know what I mean? What kind of business? And then we got to do a little red arrow. You are here. A little bit of an assessment. What we’re doing, we’ve got 36 staff and we are adding staff. We got a very cash flush business and we’re hiring people left, right and center. But it just depends on where you’re at. Buying in bulk. If you could buy in bulk and get a 5% discount and you’ve got cash lying in the bank, you should think long and hard. Your client should think long and hard about doing that. But then do they have the place to be able to inventory them? And when they do inventory, then a new set of problems, think of fencing company with a lot of fencing equipment sitting in the corner. But now do they have the discipline and the systems in place to be able to make sure that that inventory doesn’t end up being dead stock that doesn’t get used, if you know what I mean?
[00:49:04.390] – Karl Bryan
You got to create the proper management structure around that inventory. So that’s my answer shoots.
[00:49:14.640] – RodeDog
Got it. Okay, cool. We’re good there because we should probably close this out. We could go down rabbit hole after rabbit hole on this. But this is the thing, right? It’s amazing how when you look at financials, how much more of a story because people always try to find some weird, strange new home run strategy. It’s like all the strategies are hidden in the financials. You solve one problem and then all of a sudden it’s like you’re creating another one to solve. Just like that, it’s like, well, for me, what I didn’t even consider there, well, okay, well, okay, we’ve got extra cash sitting around now. Well, if you know your marketing is predictable, as you said, it’s a scientific thing. At the end of the day, once you have it down to that science of I know that my cost per lead is X, I’m converting X percentage of leads to client calls, and I’m closing percentage whatever, well, what if I could throw an extra $500, $1,000, $10,000 a month, at that, what would that do? Could I handle that capacity? Now, the problems are always ongoing. Because that was a concern that I typically had. I’m like, Well, what’s the life cycle of a coach?
[00:50:32.450] – RodeDog
Well, man, that could be pretty long, don’t you think?
[00:50:38.690] – Karl Bryan
Here’s my instinct, say to space. But there’s a popular saying out there, I don’t know who’s responsible for it, it’s not me. But you don’t know how to do marketing, so you’re stuck in sales. And you don’t know how to do product, so you’re stuck in marketing. I’m probably making a meal of that. But the premise is that it’s product, marketing, sales. And if you get product right, and just think of the thing you’re holding in your hand right now, which I bet is an iPhone, and if not, it’s in your pocket. So little thing called the iPhone. They’re not doing Super Bowl ads and they’re not advertising on TV. What they’re doing is they build an amazing product that has… You know what I mean? That basically people talk about and then everybody buys. So the question is redeployment, not just of cash, but going to the expenses. Nothing wrong with having a nice fat cash balance and doing well. Rather than spending that, do what Jeff Bezos did and take that $10 million off marketing and go, What could create word of mouth and steroids in a much better client experience whereby if I offered this, that would happen?
[00:51:54.350] – Karl Bryan
And for the coaches, though, I feel like… So an example of this is what I did back in the day. I built a five and a half million dollar coaching company. We used to do $400,000 a month in retail business coaching sales. So what we would do is I would do… Most coaches are trying to find a way to do one event a month. The local chamber, what have you. We were doing three a day. But guess what? That costs money, that costs time, that takes focus. And my question is, and let’s not be unrealistic, you’re not doing three a day, I’d be amazed. But what if you did one event a week at the Chamber? Let me tell you, the effect that it will have that you might not realize is, again, three baskets, lead conversion, fulfillment. But what will happen is the referrals that you’ll get and the satisfaction that you’ll get from your existing clients, because they’re going to keep coming and they’re going to keep hearing about the event and they’re going to hear about friends that have gone to the event and, Oh, wow. I saw this Karl Bryan guy.
[00:52:58.900] – Karl Bryan
He’s really entertaining and did a good job. I cannot believe how good of a President. In two hours, I can’t believe how much he laid bare and how much value he provided everybody totally free of charge with, quite frankly, not some hardcore pitch at the end. Sure, people put up their hand and wanted to take a step further, and I’m sure he’s signing up clients, but wow, I was really blown away at the professionalism and the time that I had. Just think of Tony Robbins. Again, you go to Tony Robbins, people miss this. It’s a four day… And you love him, you hate him, irrelevant. He is the number one coach in the world, very comfortably. It’s a four day rock concert and it costs a freaking fortune to get Madison Square Garden and to get that many people there and that much staff and those lights and that DJ and the timing all right, costs a fortune. Well, it’s not only to be in a lead generation lead generation exercise. It’s also a fulfillment. It’s a back end. It’s a retention exercise because Tony Robbins is the man. Forget Tony Robbins, let’s talk about you.
[00:54:11.160] – Karl Bryan
If you were going to look at your profit and loss and you had a big fat… You wanted to redeploy an expense and put it somewhere, I’m telling you, do an event Tuesday morning, 7 AM, the local Chamber of Commerce or whatever venue that you choose. But don’t do Humpty Dumpties. Do I used to do the penta, the most expensive hotel in Calgary. It’s called the Pallister. I used to rent out the penthouse and I did it at the penthouse and it was really cool. And I didn’t, I just, I don’t know, people wanted to come. They wanted to talk about it. So I just challenge you to basically 100 miles an hour on doing a local live event. I’d highly encourage you to do that.
[00:55:04.810] – RodeDog
I highly encourage you to not diss the eggs benny at Humpty’s. How dare you? Come on, man. I love it.
[00:55:13.700] – RodeDog
That’s like a Calgary special, isn’t it? I don’t even know if that exists. Maybe across the Prairies is a bit more of a Humpty’s that’s an institution for breakfast, bud. There you go.
[00:55:25.040] – Karl Bryan
Can’t beat breakfast. Humpty’s. Let’s go.
[00:55:28.710] – RodeDog
There it is. Again, we’ve talked about this before. Hey, why not try and find a really cool venue? Think about it. Think of sports arenas or whatever. Do something. I’m sure they’ve got meeting rooms or whatever else. It’s their off season. Find that. Do something cool that you can… I’m just thinking locally here with the Rockets, I’m sure in the summer you could do that and you can get a tour of the change rooms and everything else. And you know what? Some people love that. Anyway, know your audience, know what they like, and figure out what would be a really cool venue that they’d be like, I need to be there for this. That’s just it. Like you said, prepare.
[00:56:16.320] – Karl Bryan
I’m going to do it three times and get this viral activity and the Mayor showing up. It’s not the way it works. You got to do it 30 times, 300 times, 3,000 times. Tony Robbins, like UPW. I don’t know. He’s been doing that for I don’t know, but I’m going to guess 30 years. It’s the same dang presentation. He laughs at the same time. He cries at the same time. He tells the same jokes. He’s got it. Of course, he’s improving and his interventions. But generally speaking, it’s the same thing. Well, that’s your presentation. Get so good at it that I could wake you up from a deep, deep sleep at 3 AM and you could start and you could literally rattle off your two hour presentation that is just so good. One of the things people don’t realize about a script is that when I have a script and it just automatically rolls off my tongue, I can be constantly doing other things, i.e. Your body language, the tonality. I can be concentrating on you instead of what’s supposed to be coming out of my mouth. Tony Robbins is very attuned with the room because he knows exactly what he’s saying when he’s going to say it.
[00:57:25.820] – Karl Bryan
He’s looking around the room reading the room more than anything else. You will be able to do the same. But it’s not going to happen on your third try and it’s probably not going to happen on your 30th try. But that’s why you do it every week, every week, every week. What would that mean for you? What would that mean locally to local business owners? Forget the people who pay you. What about the people who don’t pay you, they can’t afford to pay you? Shift them.
[00:57:51.840] – RodeDog
Yeah, and I’ll just say. This, back in the day when I used to sell insurance, I’d go over the three different types of insurance. I was so on autopilot when I was doing that presentation, Karl, it was crazy. And people go like, Man, don’t you get bored? I’m like, No, because I know this inside and out and I am totally focused in, like you said, their body language. When are they leaning forward? When are they leaning back? I would know exactly when my opportunity was. That right there, then you’re learning a whole new skills set at that point.
[00:58:24.110] – RodeDog
Now you’re learning about body language. You’re learning about just more human psychology than just the basic presentation. But anyways, that’s going a little bit deeper into that. But I just think once you’re at that level, now you can truly move a room because you know exactly if you’re doing a presentation, who you need to call on if they’ve lost engagement, who you need to pump up even further. There’s so much there. It’s crazy. So crazy. Anyways, with all that said, close us out, finally. Give our listeners one thing that they can implement because I feel like we did a lot of that today. But if you have to pick one thing from today that they can just pick out and you can’t say do a live event, you have to pick something else, what would that be?
[00:59:09.520] – Karl Bryan
I think what we just went over. Jeff Bezos, he took $10 million in marketing and then he didn’t put it in his bank account. He redeployed it. Actually, I wrote him, you might want an email that I wrote in a blog post, but how Amazon pays zero tax, falls into this. But he redeployed it. He didn’t leave it in the bank account where he said, What is the experience we’re providing? Shipping and the speed at which he was able to ship was a huge part of the experience. He found when people got the book the next day, they had a totally different experience when they got it. They got it in three days in a few days. You know what I mean? In a few days, totally different experience. And rather than he just took the marketing budget and basically put it in the fulfillment budget and just said, Look, we’re going to provide free shipping. Total magic in that. I just wonder what… And then the example I just gave you just now is that if you did a local live event every week, Tuesday, 7 AM at the local Chamber of Commerce, and again, it’d be harder and harder and harder because you’re going to get a bunch of coaching clients and you’re going to get busy, et cetera.
[01:00:26.420] – Karl Bryan
So it becomes harder and harder as you keep moving along and you’ll need to have people help you. Your greatest success has come through other people, so hire some great people. But what could that mean for you? It could mean something very meaningful. It’s not just about lead gen. It’s like when a realtor is advertising all over the city, I almost call it more defense than offense because you know who refers and sends people to a large degree from those ads are people that know the realtor. So I know Dave Smith, and then I see his picture and I go, You know what? In my head, especially in a subconscious level, I’m like, He’s legit. There’s his big head. There he is advertising. His name splashed across this sign in a very popular place. Wow, he’s legit. So when somebody’s new to town or thinking of moving to town, I’m like, Hey, let me introduce you to my buddy Dave Smith. Because, again, how many people do you know who are in business and their own family and close friends don’t send business to them? Well, start advertising on a slightly grand scale and you’re going to find that suddenly those people on average start referring business to you.
[01:01:41.750] – Karl Bryan
So what did I just say? When you do a local live event at the Chamber at 7 AM on Tuesday, it’s not just about lead generation how many clients you will get, which will absolutely happen. There’s a compounding effect that will happen where your clients will start referring people. Your clients will be more compliant. Your clients will send more referrals. Your clients will take you more seriously. The guests that can afford you will start bringing their more successful counterparts. You just get a bunch of really good things happen as a result of that. Not the least of which is the fact that you are not just in business, I would imagine if you’re a business coach, there’s easier ways to make a living. You’re not just in business to make money, you’re in business to make an impact. Well, let me tell you, you start running that event in a very meaningful, dynamic, entertaining, awesome delivery way, people that don’t spend money with you are going to be moved big time. And they’re going to implement the campaign. They’re going to raise their prices. They’re going to decrease their expenses. They’re going to take a course on reading financial statements, not through you, but because you recommended it.
[01:02:57.540] – Karl Bryan
And on a subconscious level and often a conscious level, they’re going to be grateful to you. They’re going to be thinking of you. They’re going to give credit to you. And that will have a massive positive effect, not necessarily today, tomorrow, next week, but over a body of time, a hugely positive impact for your business. So there you go.
[01:03:20.230] – RodeDog
Let me ask you this real quick. I know it’s hard for people that are in truce financial scarcity. Would you agree with the statement of do the event not to get clients, but do the event to actually deliver a boatload of value to the room? Times a million.
[01:03:39.380] – Karl Bryan
Because again, it comes back to what’s the goal of your coaching company? And again, if your goal was… What did I say in a YouTube video? To raise the consciousness of the average local business owner and eradicate business failure within three years. And that sounds like a bunch of semi flashy words, whatever. Maybe that’s lame, maybe it’s great for you. But if your goal was to literally stop, eradicate business failure, getting 10 people at the chamber becomes easy. I promise you. Make your goal massive. So that’s why getting 10 people there every single week, right, RodeDog? It’s not about how many coaching clients and what are your conversions, which you should collect that data and you should work to improve it. The same way you go to your gym, if you do 10 arm curls, you got to mark it down. And don’t try to remember it because you won’t. You got to write it down. So work to increase that data in your conversions. But there are so many complementary reasons to do it, RodeDog. Yeah, absolutely.
[01:04:49.480] – RodeDog
Just a quick follow up on that is you’d mentioned the Realtor and putting their face out there, right? The question I have for you, how much more successful? Because you love putting your mug with those chicklets out there. How much more successful and how much bigger do you think Focused.com would be if you had like Nairo’s picture up?
[01:05:09.860] – Karl Bryan
Significantly. He’s a good looking man, ladies and gentlemen. Good friend.
[01:05:14.920] – RodeDog
Like, at least 20,000. Instead of the 12,000, you’d at least have 20,000 if you had his looks. I swear, it’s unbelievable. All right, I’m going to leave it at that.
[01:05:27.130] – RodeDog
Before we dig into yet another rabbit hole. Thanks for tuning into another episode of Business Coaching Secrets with the man, the handsome King Karl. Don’t be fooled, folks. Those teeth are real. If you’re not on the inside and getting access to the pre show, which we keep hyping up, you’re not getting Karl’s daily emails. You just want to learn more about how to build and grow and scale your business coaching company, visit Focused.com and subscribe today. If you enjoyed the podcast, please share it with a fellow coach or someone that you might think would be a great business coach. And of course, as always, please leave a review and leave us some feedback in the comments as we know that all the streaming services give a ton of weight to that. And that is it for another week. We’ll see you in the next episode. Remember, folks, progress equals happiness. Take care, everybody.
[01:06:15.120] – Outro
Karl Bryan built profit acceleration software 2.0 to train business coaches how to find any small business owner more than 100 percent $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising. This becomes a business coach’s 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. You may also see our Business Coaching Secrets – Why Start Your Own Business + How to Work Yourself Out of Business.