BCS: 158 | How to Charge $10k + Process To Help Clients Stand Out
Business Coaching Secrets with Karl Bryan
BCS 158: In this episode, Karl answers questions about:
– How to charge $10k
– Process to help clients stand out
Karl Bryan helps business coaches get clients. Period.
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EPISODE TRANSCRIPTION –
(transcription is auto-generated)
[00:00:00] Karl: Welcome to Business Coaching Secrets with Karl Bryan. If you wanna 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.
[00:00:43] Christian: Ladies and gentlemen, boys and girls, coaches around the world. Welcome to another episode of Business Coaching Secrets. It’s your boy Ro Dog with of course, the Man to Myth, the four foot three legend. Karl O’Brien. Welcome back.
[00:00:56] Karl: Road dog.
[00:00:57] Christian: How it goes, it 4, 4 6 on skates. There. It’s, there we go. There it’s.
[00:01:02] Karl: Thank you.
Thank, You’re clearing that up. I was concerned. How’s it going my man? What’s going on road? We just had a pretty good little pre-show shoots everybody. They’re not in the pre show.
[00:01:10] Christian: You are fired up. I’m not sure what you’re drinking this morning. How many Red Bulls you are in, but you are on absolute fire.
You wanna just sort of, So again, folks, like if you’re not part of the pre-show Holy Smokes that, that was some, I think some pure magic right there. Do you wanna just do a quick recap of what we just sort of talked to? Cause I think that that is of huge value to anybody that’s looking to get some clients fast, right?
[00:01:36] Karl: Yep. Opened up Keith, he’s got a background in publishing. Just kind of said what kind of publishing he’s talking about, you know, old school newspaper publishing and he is got, you know, I don’t know, long know. Couple decades it sounded like, of experience in publishing. And just kinda, And I said, Okay, so if you own the local, then I, you know, we went deep.
Cause I wanted everybody to hear this, right? But it’s like, So Keith, if you own the local newspaper, tell me you’re you. How do you make money? Newspaper advertising? Okay, we agreed on that. And then I said, How much is an ad in the newspaper? And he is like, Like 300, whatever. He said it was under a thousand, right?
Like call it 500. And I said, Well, if I own the local newspaper, here’s what I would do. I would give the cause if your unit of sale is 500, that. You know what I mean? Like your opportunity to scale, you’re gonna have a heck of a time. You gotta get a high unit of sale, right? Like, so the question is, what do I buy from you for 10 grand?
The newspaper’s not gonna have an answer, and if they do, it’s probably not gonna be a great one. And when I say, What do I buy from you for 10 grand? We’re not looking for like a $10,000 unit of sale with $8,000 a hard cost, right? Like that’s like a $2,000 profit margin. That’s we want at least a 50% profit margin or.
And like, that’s why a, like a good reason to become a consultant is that you can charge 1, 2, 3 grand a month, 12 24, 36 grand a year. You have 80% profit margins. That’s the magic, You know, if you got 20 clients at two grand a month, that’s 480 grand. That’s an amazing life by. Pretty much anybody’s standard, right?
So, So anyways, I said, so here’s what I would do if I own the local newspaper and there are lots of local newspapers, There’s lots of local coupon books. Of course they’ve got, you know, a digital strategy or if they don’t, they’re really old school and probably gonna be outta business soon. But there’s lots of local newspapers trying to sell ads, and I just said if I was the local newspaper, I would do the ads for free.
I would then walk ’em into a consultation like we’ve got our software called Jumpstart 12. The initial part of it where we find anybody a hundred grand, 45 minutes without spending a dollar on marketing or advertising. A lot of the people that take the free ad will take the Jumpstart 12 consultation, which would leave lead to a 12 24, 30 $6,000 consulting sale with 80% margins.
And you see the psychology of it is that lots of people will take free ads and not spend 5 cents. And for the average business owner that throws them off and that, that’s ridiculous. Right? Like little company named Facebook, we all might have heard of 1e-05% of the population or the users on Facebook spend $1 with them.
Apparently it’s working out pretty good. Right? And then LinkedIn, same thing, right? They don’t know if they char, if LinkedIn charge it’s, it’s the penny gap. We talked about that probably a year ago now. But the penny. If YouTube charged you one penny, If Google charged you one penny, if Facebook charged you one penny if Airbnb or not so much so LinkedIn charged you one penny, we wouldn’t be talking about them as the examples that they are, right?
So basically, and then they’re really data plays that I don’t think I’m gonna go down that rabbit hole, but no doubt, just think of what, how much Facebook knows about you. Think of how much LinkedIn knows about you. And then maybe think about what that might mean for you, your business coaching your client’s business.
Like we just, we almost hired a data, data scientist some time ago. In fact, looks like we just hired him today in negotiations a little bit. And this, the guy’s job is gonna be just, you know, with our software, we’re compiling enormous amount of data. And the thing is that we’ve got the data, but data’s not worth anything if you’re not doing something with it.
Forget that rabbit hole. The local newspaper data could be names, phone numbers, email addresses, and you know, a person to contact with a free ad. If you have a hundred ads or a thousand ads instead of 10, 20, 30, 40, 50 ads in your newspaper. Are, are you building a better platform? And one of the big things is that when you get a free ad, you also are gonna go and wa you’re gonna go check out your ad.
Well now you got reader. So anyways, we were just kind of talking about that we went on a little bit, but I think that there’s a lot of power in that. The way that I got there is I said, What if I would ask the guy who owns the newspaper, What do I buy from you for 10 grand? And that’d be a really good chance that he wouldn’t have an answer.
And I’ve got a story where like way back in 2005, my first ever business coach made 330 grand in his first six months with me. Not in 12 months, but six months. And a big part of how we did that is we took networking, made it predominantly free poor gasoline on his lead gen, made the environment super entertaining as opposed to static and you know what I mean?
Like, you know, telling jokes, loud music, hit music. That kind of thing. And, and yeah, instead of selling an $800 12 month membership to networking, started selling a $10,000 consulting package with 80% margins, bingo, bango, bongo. And the year prior, he made about a hundred grand. The year prior, he made 330 grand in his first six months with me by doing business coaching with a high unit of sale.
He just, I asked him, What do I buy from you for 10 grand? He didn’t have an answer. He was selling an $800 membership, The exact same example that we just went through with Keith, with the publishing company. So we went a little deeper than that road, Doug, but not the premise of it. If I sum it up, if I own the local newspaper, okay, with a million percent certainty, I’d be given the ads away for free.
I would be crushing the competition. I’d be pouring gasoline on my lead gen because it’d be so much easier to get people in. I’d be referring to that as data, business owners, email addresses, contacts, names you know, their ad on my digital magazine or my digital newspaper would then be data and I would be turning those people into high end consulting clients for 12 24, 36 grand with 80%.
And frankly, I would crush the local competition if I did it. And, and I would do that with a lot of other, If I owned a promotional company, I would give, I would be advertising all over Facebook, all over Instagram, all over the internet, giving away free golf balls to business owners. They’d be putting up their hand and then I would say, Hey, what do you wanna put on the golf balls?
Their answer would be probably pretty lame if they’re 98% of the business owners that I’ve met. And then I would take that poor copy and I would turn it into a consultation, which I would turn into, you know, I would cut their arm. You’ve ever heard me talk about that? I don’t offer bandaids without cut arms.
So the profit, the jump start 12, what it does is it cuts their arm. So they see all this unrealized profit and all this money they’re leaving on the table. So I don’t offer my consulting before I cut their arm and then my consulting is the bandaid and they’ve got blood running down their arm and they say, Thank you, instead of, what the hell is this bandaid for?
So you need a process. I would, I wouldn’t just give away golf balls without a process, but that would be the golf, the process, and importantly, road dog. The psychology is that not everybody needs to spend money with me. That’s. I get, I do a daily, No doubt you’re listening to this, you probably get my daily email.
A hundred thousand people get that a day, not 5 cents. Part of nobody’s paying 5 cents for those emails and they take an enormous amount of time and they’re challenging to write, I can assure you, especially the jokes. Anyway, so that, that, and not say, Okay, I’m not asked. I’m not at no time am I gonna go to the a hundred thousand people getting my email and say, Hey.
You know, like, you know, the penny gap. I’m not gonna go and say, Hey, pay one penny here to continue to get my email. Which by the way, I might create a paid version at some stage, but that wouldn’t disrupt the free version. So, Ro Doug, what do you think? That’s kind of, we went over correct. What do you think?
[00:09:21] Christian: It it is. And that’s, that’s just when I piped in and I just said imagine now just, you know, if you’re doing live events, cuz shocker, you and I are talking live events. Anybody doing a live event, just go skimming through all your local magazines and newspapers and everything else. See who’s ready currently advertising, and then just invite them to your event.
Right. Just kind of go, Hey, I’m, I’m, I’m doing an event and we’re gonna talk about, you know, even a simple question of, Hey, are you getting everything that, that you wanted out of the ads that you’re. Well, I’m hosting an event that you know, will probably actually help you convert a lot more and help you write more compelling hats.
It’s completely free. I’ve got room for 10 people. Are you in, right? Like of course they’re gonna say they’re in. Like, it’s just such an easy conversation to have. I
[00:10:05] Karl: think it takes a lot of, but but road dog, you say that with some mojo and from experience and you know what kind of value they’re gonna get if they come and not do that Exactly without the mojo and you’re getting hung up on do that with the mojo and watch what happens.
Right. Just works.
[00:10:21] Christian: Love it. I love, I love mojo but like it just makes feel very awesome powers. Hey, and by the way, you know what? If the take as long as they do, you got a lot of work ahead of your shoots. Not gonna lie. Some of your jokes are wow. Speaking of jokes first question rolled in and it talks about being different and standing out and I thought, Holy crap, that’s Carl Bryan.
Like, it’s just, it’s hilarious. Like if you want to first off for car stand out, he’s gotta stand up on a chair. But for being different. Boy, oh boy, this is amazing. This is the most perfect question I’ve ever read that I’m like, this has to be asked. So there you go. How’s that for uh, Set up for this question.
By the way.
[00:11:03] Karl: You like this shoot? Shit, it’s monumental. The only, I don’t know the question. What, what is it? Well, I’m not
[00:11:10] Christian: even here yet. I’m just, I’m still setting the stage for this question and speaking to setting the stage, if you never wanna see Carl being different, watch him dance. It’s like watching a guy have a stroke on the dance floor.
It is something
[00:11:21] Karl: special. Pretend like you’re not impressed. Ron, Doug,
[00:11:24] Christian: buddy. Listen, we’re all very impressed by your skills and your moves. All I hope is that you were a lot smoother when you, when you picked up your wife. Cause holy smokes. Thank God you’re not single. All right. You talk about being different and standing out.
Do you have, Oh my god, do you have a formula or process for helping clients thank God clients, for helping clients achieve this? Okay, this is not a dating question. This is not dating 1 0 1 with Carl Bryan. Thank God, cuz that would go a whole different direction. But for, for clients It’s a huge question, man.
Like being different in standing out cuz everybody does a lot of the same stuff, right? No matter where you look the, we just talked advertising. Nine outta 10 ads look exactly the same. So what do you say to that? Do you have a formula process for I, for clients
[00:12:14] Karl: standing out? Actually know before I wanna make, there’s something on my mind.
I wanna just case, so earlier you just mentioned about inviting people to the live events and then going, you ran an a. So for that reason, I’m gonna invite you, so then what we also talked about on the pre-show, but I just think that it’s got some value here. It was the reason frame, right? So you were nominated for an award.
That’s the reason I’m inviting you. You won the award. That’s the reason why I’m inviting you. You’re a member of the Chamber. That’s the reason I’m inviting you. You were referred by a friend. That’s the reason. So you need a reason, right? If there’s a long lineup of people and they’re all waiting for a drink of water, you go to the front and you just butt in, you’re probably gonna.
Ask, You know what I mean? Like, Pushed away and you know, hey, shoots to the back of a line, stop it. Right? But you give a reason. I’ve got diabetes. Somebody Oh yeah, no worries. So I didn’t realize that. Go for it. Right? So anyways, the reason frame is important. So if you’re looking to, you know, Live Event Mastery, the program that we have filled over 400 local live events, personally, it’s literally step by step, laid out cookie cutter to do.
So anyways, just the reason frame. Hang on,
[00:13:20] Christian: hang on, hang on. You talked about the reason frame. It’s also other people call it the because frame, right? I’ve heard that before. It doesn’t seem to be anything sexy like, Nope. I, I think, I think that’s the point that, that we need to make here, Carl, is it doesn’t, Why?
Because guess what, What do we always say to our kids? Say, Why do I have to clean my room? Because I said, That’s why, Right? Like, it’s, it’s pretty straightforward. So we’ve been hearing this because frame our entire lives. So as soon as you hear, because hey, can I, can I just get ahead of you for I need a drink of water.
Why? Because dude, I’m super thirsty. There we go. Nine times outta 10 they’re gonna be like, Okay. Yep.
[00:13:58] Karl: Exactly. Anyway, so yeah. Good. Yeah, there you go. So reason from the reason frame, because frame, boom. So anywho different in standing out You know, I, Okay, so I’ve been thinking about something for the last little bit.
Don’t know if this is gonna be the best answer, but like, the correlation between supply and demand, you know, like supply demand, Hopefully you probably know this, right? But it’s literally the, the foundation of modern day economics, right? And it, more importantly than that, and what I want to kinda hit home, what I wanna drop and for you to pick up is it single handedly can drive price.
So part of the inspiration of that I enrolled in a a course recently, like pretty damn expensive. And it was very, very limited in supply. And then, you know, there’s an application and this, that and the other, and I’m filling this out and I’m in the back of my mind. I’m being like, Is this happening?
You know what I mean? But like, I, I gotta tell you that I’m just sat there and I answered the questions and I did an enthusiastically you know, with them, my credit card number to do, to do, to do. And I just supply versus demand. This thing was, you know, there was a very limited. You know, very limited amount of supply.
Right. So, and nothing about limiting supply as in only a certain amount available, I think will come naturally to the average business owner, the average coach for sure, because we’re so giving by nature. Otherwise, you wouldn’t become a coach, but the average business owner as well. It’s a bit like what I was talking about earlier, you know, like, so giving things away for free, it’s psych.
Right. And again, little company called Facebook doing pretty good. You don’t charge hardly anybody, right? And it’s, and it’s working out. Your client doesn’t need to monetize every single person that they do business with, right? So it’s, it’s like a muscle that I’d encourage you to kinda, you know, really think about and exercise.
And you will get stronger, you will get better, and it will start to come a little bit more naturally. And it, it’s like road dog. I don’t know if it was LA the last few weeks we talked about the magic of group coaching, right? And most people don’t realize part of the magic of group coaching is that it elevates the demand, and maybe I’ll say the perceived value, the actual value for your one to one, right?
So translation, you can charge 10 times more for your one to one coaching and get. When you have a successful group that they’re participating in, right? So Monster mistake coaches make as being, you know, quote unquote too available, right? Trying to be Peter Pan, the Do-gooder you know, just solving everybody’s problems and doing it totally on demand.
There’s, there’s a place for this and it, you know, it can be a, there’s a place for helping everybody and delivering value. Cause obviously that needs to be the foundation, right. It’s a monster mistake to make it the foundation of what you do and kind of put yourself out there as Mr. And Mrs. Readily available, right?
So like your, your lack of supply is part of how you separate yourself and it makes you more attractive. It makes people really, you know, wanna kind of walk over glass to get at you. So I’d, I’d encourage anybody serious about being the best business coach they can be to seriously think about it. Maybe play with it, experiment with.
You know, as in supply and demand, both for yourself and of course with your coaching clients. Cuz again, in, in some, put in a sentence, supply and demand can single handedly drive price in a, in a positive and successful way. So, so yeah. Ro, Doug, I’m gonna, I’m gonna say supply and demand and I, this is something top of mind and I think it might suit there.
I’m not sure that’s exactly what we were looking for, but that’s what I’m gonna.
[00:17:27] Christian: Well, that’s definitely not what I was thinking you were gonna say. So how about, how about that? So can you give some examples of like limited supply you successfully, if we’re gonna go down this path, like let’s, let’s just make it a rabbit while we’re here.
[00:17:41] Karl: this is Road Dogs fault folks. There you go. Whoa, whoa, whoa,
[00:17:44] Christian: whoa. I will not, There needs to be a disclaimer. Right Where it’s like dog will not be held accountable for any rabbit holes that are incurred. ,
[00:17:53] Karl: you’re here to hear first, but shoots okay. So Ferrari, you know, look, they’re not concerned with the price tag hanging off their cars, right?
Harley Davidson not worried about the, you know, whatever price they wanna put on the bike is kind of what they put on the bike. You know, like, like Harley, Davids can, could easily be beaten on price. Not to mention quality, by the way, like by less expensive, you know, foreign brands, like there’s, you know, there’s really quality brands out there, right?
But the ideal client has enough money. And remember, like people afford things that they want to pay the high end price. So much. So in fact, differently. Harley Davidson customers prefer to pay more because they don’t want just anyone to have one. Really gotta think about that, right? They wanna know that the other, they wanna sacrifice and they wanna know that they’re other.
You know, the other guys driving to Harley’s and waking everybody up at 10 o’clock on Saturday and Sunday. Remember, Harley Davidson makes an accountant. Bad boy and you know the guy to be feared on Saturday and someday as he rides down the street. Right? And all the kids look and everybody’s looking at him driving by, right?
That’s, that’s what they made out it, right? And so har, to get to the point, Harley, they’ve always been really good at using limited supply on their bike. And then that’s what creates a demand and a waiting list. Like walk into a Harley store tomorrow and try to buy the latest and greatest. It comes out this year as you listen to this.
Right. And I’ll just tell you, welcome to a waiting list, and you’re gonna leave a non-refundable deposit and you’re gonna wait the end. And it’s that that bike is not coming anytime soon. It, it could be 12 months. So when people exercise, like when people experience this for the first time, it totally blows ’em away.
Right? And it’s same with Porsche and Ferrari and Lamborghini and similar brands like. And therefore, you know, the only people who own Harley are those that are totally dedicated and devoted to the brand. And again, it’s people that have sacrificed and they haven’t just, it’s not just money, but it’s also time.
And time is a sacrifice, right? So like, you know, you, Wait, it said, And by the way, then go try like by, Used to know I don’t know, like an early 19. I think it’s like a 1915 is actually like a collector’s edition, but try to go by an early 1900 11 F Harvey Harley, right? You fall off your chair when you see it, it looks like a really average looking bicycle and the price.
Is that of, you know, you, you’d buy a Lamborghini or Ferrari for it, right? Like a popular Harley is an appreciating asset. A popular Ferrari is an appreciating asset. A popular Harley or Porsche is an appreciating asset, right? I, I drove a Ferrari, I think we’ve talked about this before, but I drove a Ferrari for 10 years, made a handsome profit when I sold it.
So I sold, I drove it for a decade and then I sold it 10 years later for more than I actually bought it. Kinda like getting paid to drive it, which not quite, because to service these things cost you a fortune, but you get the idea, right? Bottom line is that brands like that, if they’re doing it properly, They’re, they’re incre, they’re, they’re appreciating assets, right?
And, and by the way, for the business coaches listening, you need to learn your craft first and be, you know, quote unquote excellent at business coaching before you go do this or what you’re gonna do is screwed up everybody else. And a lot of folks, you know, like really good, big part of what we do, like.
You know that silver tongue sales guy, they get started with us and they make 300 grand and short, sharp, you know, quickly. But the problem is then they, they get sick of, you know, they, it’s the coaching that’s really boring. And the selling and eating what you kill is really exciting. So you gotta be able to follow through.
So before you go and take this advice and use this supply and demand at a high level in the business coaching world, please make sure that you’re gonna be unbelievable business coaching. You’re always gonna follow through. And if you’re not that guy that’s gonna follow through, hire somebody highly analytical, like an accountant type or you know, somebody highly analytical that can clean up the messes behind you and do the coaching and show up and you know, do the accountability.
Right. So thinking about that but I’ll tell you, once you hit an elite level, you know, being the least expensive coach, it’s gonna be ridiculous. You know, some business owners, you know, this road dog, right? They, they just wanna pay more, and that’s never gonna change. And, and, and by the way, those that pay more like big time for their coach, they refer Tony Robbins’ clients, refer him at twice the rate.
50 times the rate that the local business coach charging a thousand dollars a month gets referred to by his clients. Right. You know, Russell Brunson’s got a million dollar year coaching program. Tony Robbins, he always talks about it’s a million dollars a year. You gotta go in the waiting list. And you know, Peter Tutor Jones has paid him a million dollars a year plus upside for literally decades.
You know, my most expensive coaching program way back when, 750 grand. I created from scratch, created the documentation, sat with the lawyers, sold it on my loan sum, closed it on my loan sum, did the whole thing. And I’ve sold many a coaching programs for a hundred to 500 grand and forget about me. That’s, that’s what I’m trying to, Don’t think for a second that you can’t go create a really, really high end coaching program and get the money, but it’s gonna need to be, you know, it’s gonna need to be sold in a you know, an important strategic.
Way, and you gotta make sure if you’re gonna accept a hundred thousand dollars from a business owner that you bloody deliver. Otherwise, you’re making the mess of our industry, so don’t do that. But so I just say, look, Harley Davidson in that, you know, like, These guys are tattoo worthy. Like how’s that?
Like people get Harley Davidson tattoos and you see people like apple tattoos, Ferrari tattoos, the Olympic rings, which is absolutely in a brand, the American Flag, America, the United, you know, the American flag is probably the number one brand in the world, right? There’s maybe Playboy not so much anymore, but you know, the Playboy Bunny.
Sure one day it’ll make a comeback. But that, that’s never changed over, you know, decades and decades. Maybe to a lesser extent. You know, Nike Polo, Ralph Lauren Lacoss you know, they have pretty cool brands that I think probably somebody would go and put on their shoulder, or whatever, maybe not Bugs Bunny, you know, again, brand lots of, you know, the Disney characters.
It’s not so much Disney, but it’s the Disney characters also. Think about that. So, you know, but pretty cool goal, you know what I mean? If you set out to, you know, have somebody, you know, get your tattoo or sorry, your brand tattooed on their shoulder that’s pretty cool. So, so that’s like successful marketing times 10.
So that, I don’t know, that’s so road dog. But there, there’s some examples, you know, like Harley, Davids like the big, big brands, they limit supply. In a very hard and real way. You know, it’s, it’s the foundation of their whole sales process is that their stuff’s not available. Right. And they, and it therefore holds its value on the open market.
Big time. Big time. So that’s what I gotchu. What do you think? Well, I’m just speaking
[00:24:46] Christian: of tattoos. How did the the Leafs tattoo work out for in your lower back? Is that, is that good? You got the tra the tramp stamp, The, the leafs on your lower back. You’re good. That work out good for,
[00:24:57] Karl: listen, they don’t get the first round timestamps, but Oh God.
They’re a hard team to cheer for. I love ’em so much, but, Oh gosh. Painful, painful,
[00:25:09] Christian: painful. I’m, I’m just asking about your lower back tattoo. I didn’t have to go into the first round, but like I’m. Right. Like it’s, it’s probably just as painful getting a tattoo as it is watching a Leafs game. But any who listen.
So I, I hate, I hate to do this to you because sometimes you sort of lose track. So we, the, the original question asked in regards to a framework and how to get there, So remember that, that was the actual original question. So I like the loop, the loops you’ve done here. And but is there, is there an actual framework to get there?
Let’s, let’s go back to that original question.
[00:25:42] Karl: Okay. Nice job, bro. Doug, Nice job. Look, I think I’d start frame, I don’t know, I’d start with a question like, how can I help my high end coaching client become worth talking about? Is that, you know, like that’s, we’re here talk, like I just talked about Porsche.
I talked about Nike Polar, Ralph Lauren. Harley Davidson, Apple, et cetera, you know, like trying to be me too, or me better are just not gonna get it done anymore. You know, so maybe it’s what we talked about earlier with the publishing company, when the newspaper starts giving away free ads and giving away free events and educating their business owners, you know, using some of our tools and some of our online business academy tools and using, you know, finding people a hundred grand and 45 minutes without spending a dollar on marketing or advertising.
I don’t know. Is that something the average newspaper, the average radio station, the average coupon book, the average online directory, the average digital marketer is doing, and the answer’s probably not. So again, what are others charging for that you could do for free? But I think, so like, how do you get your client to be worth talking about, like, you know, the fastest the most expensive, which is kind of where I’ve, you know, been playing here the last little bit.
The first, the last like we invented business coaching software. Who else is gonna be able to say that right? Be the last the most difficult, the easiest. You know, being unique. So what are you the most unique? You’re the only, you know, totally standalone. Maybe you’re the smallest. Maybe you’re the biggest.
I know the most efficient, you know, again, different depends on the types of spaces that you’re, you’re, when I say spaces, but I mean like categories and industries. Maybe it’s you’re the simplest, you’re the hardest. One of the things we talk about all the time internally is just making our software simple.
It’s really, really easy. It’d be really easy for us to create really complicated software, but we’re always just 80 20, 80 20, 80 20. How do we get 80% of the value with 20% of the changes? How do we get 80% of the value of what we just talked about with 20% of the, you know, the code and whatnot again, and the interest of making it easier for our client you know, making it the best, the cheapest.
Be careful with that one for sure. Maybe you’re the slowest. Again, Ferrari do not make cars quickly. They make them very slowly. And then there’s a level of perceived value. Like they promote that. When I say that, you might think, gee, the slowest, like who the heck would ever promote that? Well, you know, again, high end Harley Davidson, they’re not, you know, they’re making these things, you know, and they’re, they’re stamping them.
As in, you know, you got car number one of 402 of 400 maybe you’re the newest. That makes, you know, people love new. Maybe you’re the oldest, maybe most established you know, like, think of McDonald’s, you know, over a billion, over a billion burgers sold. Something like that, I think is the sign said back in the day, you know, you’re the most popular.
You’re the least popular by being the least popular. That means you get more one to one attention. You know, the safest, I don’t know, most dangerous, remember like no fear clothing is what I’m thinking. Like, you know, it was all about, I mean, I love that stuff, right? And it was all about just living, you know, if you’re not living on the edge, you’re taking up too much space or something to that effect.
You know, the most dangerous, the most edgy, you know, lots of guys in our world, you know, they do that successfully where they’re, they’re super edgy and that’s just their thing, right? I dunno, that should be enough to get the hamsters running on the marketing wheel. Bottom line. Like, it don’t be all like, help your client, pick one.
And have your client, you know, own that space in the mind of, of local consumers, Right? And so, as I say that, I’m kind of thinking, Yeah, but like I’m, I’m growing out all these, these big names like Harley and can my local business owner do that? And the answer is absolutely, But what will stop them? What will stop you is.
Right, Like Abe, this is number two. We try harder. You know, Tom’s one for one strategy, like they give a child in, need a pair of shoes for every pair that you buy, right? And the words of Seth Godin. Good ideas spread. You know, think of some good ideas. Think of some and maybe another way of wording that should be, find some problems worth solving and people will start talking about.
So, you know, in some, let’s just make sure as far as limited supply for coaches go, if you’re trying to sell coaching and consulting and not using limited supply in some way, I think you’re making a pretty reasonable size mistake. You know, when you use limited supply properly, you’ve got the force of what, what’s fomo?
Fear of missing out, right? Like you have that working in your favor and it’s one of the biggest. Draws you know, the world is not driven by greed. The world is driven by envy. That that’s not me speaking. That’s Warren Buffet. And I think Charlie Munger as well, by the way. But that’s, you know, the two of the most, you know, richest and most successful guys, and they’ve done it in a very boring and methodical and strategic way.
Like, you could actually follow Elon Musk, you know, he’s alien just trying to get home. He might be a little bit difficult of a guy to try and emulate and get your head around. Charlie Munger and Warren Buffet. I mean, they’re just, they’re incredibly smart guys, but they, they’re just strategic and they’re slow moving.
They give all of you, read all the letters to shareholders and the books written about ’em, and the, the books out there on What is the University of Warren Buffet or something to that effect, You know, it’s just unbelievable the content you can get from that. Right. And, and some coaches are thinking, oh, you know, like, it’s like scarcity or like supply, like it’s an unethical sales tactic tactic, right?
Well, you can only, if you are a one to one business coach, you can only handle about 15 high end coaching clients. Let’s assume that’s the number, maybe it’s 20. Maybe it’s 12, maybe it’s 23. Let’s just assume it’s 15. Well, if you could only handle 15 high end business coaching client, guess what? You’ve got scarcity.
You’ve got limited supply. So go on bloody tell somebody. Don’t keep it a secret. Right. And you know, not to mention Row dog. I think that by limiting supply. This will give a business coach that’s maybe lacking a little bit of confidence. Cuz remember, if you can sell, you can’t coach, and if it can coach, you can’t sell.
That’s a little bit of an exaggeration, but not too far off where the really, really good coaches lack a little bit of confidence. They’re really good at what they do and they follow through highly analytical. And they’re there every Monday at two o’clock and they’re. Five minutes early, but they lack a little bit of, you know, mojo, a little bit of you know, sales sometimes well by limiting supply, this might give you that Steve Jobs type strt, that Michael Jordan type, you know, Superman walk, where you’ll, you know, start owning that business coaching superstar that you are, you know, and you are, you just, you gotta bloody own it.
But limiting your supply I think will help you do that. And Rodo, I think recently we talked about category. Often businesses get hung up, going head to head. So I’m just thinking framework here, right? Like creating a category. Often businesses get hung up on, like going head to head, going head to head, right?
And. The common result there when you’re going head to hand and you’re not differentiating is guess what? Lower your prices, right? So by creating a category, it’s not the easiest thing in the world. If done properly, it’s a total game changer for your ability to do this supply and demand thing, like to create this frame.
And to do it though, it’s gonna go against the grain, it’s gonna go against I think natural instincts of you and your coaching client. You gotta narrow your focus. You know, and you really gotta, you know, kind of start something totally fresh that didn’t exist. And again, FedEx, like overnight delivery did not exist.
I remember writing a long email. It was about the same time as Harley. I, like, there was a direction that I was thinking going, you know, where I was gonna like, you know, write, you know, business case studies kind of thing. And I wrote one on Burton Snowboards Jake Burton, you know, he basically created the sport of snowboarding.
Right. So again, I, I owned a hockey rink in a place where there was not, like the sport of hockey didn’t exist and there were skating rinks and I built a hockey rink and everybody one by one and some pretty smart guys, told me I was absolutely crazy. Where we were absolutely crazy to build a hockey rink.
And we were like, Nah, no skating, We’re just doing hockey. Like, you know, everybody’s doing. Birthday parties we’re like, We’re not doing birthday parties like this seems incredibly lame. And if you’re gonna do a ho a birthday, yeah, you could do a birthday party, but guess what? Everybody’s playing hockey and everybody’s wearing a helmet.
Everybody’s carrying a stick. So that’s what you wanna do. Go for it. And we, we grew the demand. And by the way, short term look like an idiot long term. You know, the ring still exists today. In fact, the kid is playing, Nathan Walker is playing in the NHL playoffs right now for the St. Louis Blues who played in my hockey rink and I coached him.
So, so anyways, growing demand. So instead of. Yeah, we wanted to grow the sport of hockey, so we built the hockey rink where a hockey rink didn’t exist. I don’t know, Is that, that’s category, if ever there was one, maybe dominoes. You probably all heard that one. But like, home delivered pizza wasn’t really a niche before Dominoes went and did it, and if it, it might have been getting done, but it wasn’t like a, what you’d refer to as a category, which now you know well, and truly it is.
You know, like PayPal, they created the online payment category. Apple. You know, before, you know, Apple maybe showed out the Blackberry who kind of paved the way, but really Apple before them, a cell phone was something that you sent texts and made phone calls on, Right? You know, Elon Musk and his electric cars.
And now Lord knows what he’s gonna do with Twitter, will have to see. But you, you know, your client doesn’t need to be as ambitious as creating electric cars to create a category. You know, they could do something a little bit smaller, a little bit. You know, easier to follow. Remember like 15 years ago I built the Done for You Online Business Academy?
Should we still have today? I still have. The Academy built it decade and a half ago, and it still exists today. Of course. It’s been revamped and refined. And you looked at it today and you looked at it 15 years ago, you’d have no idea that you were looking at the same thing. But you know, we kind of, we created that.
Category, You know, now we invented software for business coaches and business consultants, right? And a lot of the, the elite of the elite coaches. I’ve seen some ads recently on Facebook of clients of ours who are running, you know, spending a lot of money on Facebook, building pretty damn multimillion dollar you know, Practices using, they’re using our content.
And by the way, that’s totally fine. Like all, a lot of the, the, the Dan Canby Marketing Hall of Famers use our stuff. The bottom line is that you have seen a lot of our content out there and it was cuz we white label all our stuff, you know, it, it looks like it was, you know, their stuff you. Creating that, that white label solution is what we did in there.
What can you do? What can your business owner do? What can the plumber, what can the chiropractor, what can the dentist, what can the butcher baker candlestick maker do? And the answer is you start thinking outside the box. And you might be blown away at what you can do for, again, the realtor, the mortgage broker, the insurance guys or, or what have you.
And they’re are a plethora of them in your local area. Doesn’t matter where you are, but they are everywhere. Just help them think bigger. Help them think smarter, right? Like, I think creating a category road dog is, you know, it’s, it’s not about working harder. It’s about working smarter and kind of moving up the, the food chain.
So, so that’s what I’d say. Schutz, what do you think? Well, I
[00:36:37] Christian: think you’ve actually neglected one, and that is another great to do this in terms of creating a category, is to create and promote positioning opposed to a
[00:36:47] Karl: category. That that’s a good point. Like, yeah, another, like another great way, I’d say to get people talking about your coaching client or the business Yeah.
Instead of creating the category. Or sort of promoting the category. Promoting the positioning. You know, I’ve seen like a Volvo is the safest wor car in the world. That’s what I mean. Right. Coke is the real. What are some other examples? Road dog like Disneyland what do they call it? Happiest place on Earth.
Is that it? Bmw, the, the best, the driving machine, the alt ultimate driving machine. You know, Amazon is the world most customer centric company. I’m not sure if they, they put out different messages at different times, but that, you know what I mean? That’s been their, their catch cry for a long, long time.
You ever saw Jeff Bezos get interviewed over the last decade? You, you’re gonna hear that from him. Like Tony Robbins, the word mastery. You may or may not realize that, but Tony Robbins owns the word mastery, and then you see coaches all over the world promoting this, that, and the other mastery.
And that’s not even realizing it. And I have done it by the way and mastery right there. But he, he owns that word. He owns that positioning. And mastery, if you can remember, mastery is just that extra 2%. The extra 2%. The extra 2% where, you know, basically the, the highway is. Like Zappos, I remember they shout out to Tony Shay.
He rest in peace. But what did he do? He wrote a book called Happiness, You know, Deliver Happiness is what Zappos was all about. Again, multi, multi multibillion dollar company. So quality is critical, but brands are built. More on the perception than they are the actual quality. Like, like in blind taste tests.
Pepsi absolutely destroyed Coke, Clay. It wasn’t even close. Some people don’t know that. Right? People didn’t care and they still bought Coke. And then you go like, why? In a hundred percent Coke’s positioning, they crushed them. Right? And there’s so many other like examples like Toyota versus almost any other premium car.
Like there’s no correlation between The equivalent of the Pepsi Coke Challenge, like the completed test in the marketplace, and then the success of competing brands, right? Like Duracell and Energizer. Again, it’s not you, you don’t, you just go with the one who’s marketing you like the best or the one that has, frankly, the better positioning in the specific store at eye level, right?
So, so quality’s kind of in the, my mind of the buyer when you do positioning properly, road dog and If you wanna build a powerful brand, you, it’s the per, you wanna create the perception of quality more. Well, and you gotta have a kick ass product. You gotta have a great product. Otherwise, none of this stuff’s gonna work.
We know that, right? But the perception of quality in the mind of the ideal client, not everybody, not Tom, Dick and Harry, the specific client really drilling down. So road now I just, I feel like I gotta go granular cuz we’re using all these big brands or I’m, I’m naming all these, you know, Zappos and BMW and Disneyland.
Can, can the business owner relate? And it’s like, you know, is there anybody in your city that’s like, you know, the, the number one business coach, you know, Road Dog and I like in Colo, is there the CO’s number one business coach and I dare say not. And you’re coaching, you know, Park City’s number one plumber.
Delaware’s number one chiropractor. And these aren’t, when I say that for a bad city like you, you gotta use you wanna be thinking 10, 25, 50, a hundred thousand p you know, population, suburbs, maybe for your client as opposed to, you know, New York City or la. Very challenging. Right, But the number one plumber, the number one chiropractor, the number one dry cleaner, the number one digital marketer, the number one business coach, the number one chiropractor, the number one, I said, whatever dentist, whatever the, you know, number one roofing company, the fastest roofing company, the quickest turnaround, you know, the cheapest, the best, you know, stand out.
So, you know, the positioning road dog, I think is super important. Like, again, you, you got a daycare and it’s like an, you turn it into an accelerated learning center. Frankly that would be, you know, that’s got category, but it’s also got positioning. I gotta tell you, if you, you create an accelerate if I own a daycare locally, Okay.
Call an accelerated learning center and make it into an accelerated learning center where our kids are gonna go in and they’re gonna end up with grade two reading, writing, and ARI ability before they go into grade one. I’m telling you, I am going to, if done properly, and I can market and I can create some signs to go out the front and a body of work, don’t expect everything to happen overnight.
It might take you one, you know, it might take you a year, 18 months, two years, maybe three years, to really get going, really get traction. But you absolutely crush that, right? Like absolutely crush an accelerated learning center. That and just about, you want examples of this? Just go into your local city and see the school.
Like there’ll be schools, right? Where they teach you math, English, etcetera. Right? Clearly. And then there’s private, so you gotta a free school and then you got a private school and then you got a private school that will teach baseball. Then you get a private school that does hockey and then you get a private school that does dance and you get a private school that does gymnastics and see how much they church.
And it’s like the numbers if you don’t know already, and you might already have an idea if you got kids, but the numbers are just below your mind. And again, at the end of the day, they, you know, they could play hockey for the local team and go to school with the local. You know, the, you know what I mean?
The local school and then the local team and save yourself a whole lot of money. But parents wanna put their kids and you know, they want them to be elite. They’ll spend an absolute fortune on niche, stuff like that. So anyways. Yeah, good point. Rodda. But the positioning you know, just think of your frame as like Volvo being the safest car in the world.
I think that’s the easiest one for everybody to get their head around. How can, how can they, you know, your coaching client, how can you do that? How can your coaching client do that? And I think you might find you’ll have a, a lot of success in your coaching client relationship will be easier and longer standing.
So what do you think? Row dog? Is that where you were thinking? Anything to add? Yeah, that, that’s
[00:42:49] Christian: pretty, pretty spot on. So let, let’s just wrap this up cause I know we’re going a bit long here today. I, This is like a recording. I say it every week, man. Like it there has, Yeah. It’s yet to be a show where I’m like, well, we’re a little light on content today.
That doesn’t happen, but all real quick. What’s one thing that, Cause we, I think, I feel like we covered a lot, like. Man, Like if you had to just pick one, what would you say? Somebody take
[00:43:16] Karl: out a, the biggest, and it’s again, I, I mentioned it’s something I’ve been thinking about supply and demand drive, price.
And I don’t know that I have that completely worked out. It’s kind of a rabbit hole in my own little private time. I’m kinda, and maybe, you know, we can talk about this on the podcast in the future as I go a little deeper, but supply versus demand. Drives price. And I just think that there’s magic in that statement.
And I, and the magic is that it’s so counterintuitive. It comes so incredibly, not naturally. That that’s why, and it, and it’s just so important. I just survive. I’ve always said at Ro Doug, like, when you get on the phone with somebody and our, our coaches, like our clients that are listening to this, right?
We lots of them. Always thought when you get somebody on the phone, you start the conversation with how busy you are by, you know, blessed, you know, by the grace of God, I’m so busy, so grateful, so thankful. Holy smokes. Careful what you wish for. Language like that, which doesn’t sound, make it sound like you know, your, your cell, cell cell morr.
Always that, that, that frame people why people want what they can’t have. The end right the end. It’s like high school. Right when you were in high school and you had a date, you had a girlfriend, or you had a boyfriend, you were significantly more attractive to folks than suddenly you got dumped or you dumped them and suddenly you were single.
The end people, people want what they can’t have. So supply versus demand gotta limit that supply. And then you, you know, subsequently incre, you artificially or actually increase demand. And then the perceived demand is just dramatically goes up, which allows you to charge so much more. So again, it’s group coaching.
Doing that successfully will increase your ability and the speed at which, and the perceived value and the actual amount that you can charge for your one-to-one coaching. Like, that’s it in a nutshell. It’s, you know, See, I, I’m not, Now I’m thinking Hollywood, right? Like again, Tom Cruise, like how does Tom Cruise get, I got no idea what he gets paid for a movie, but let’s assume it’s 20 million.
I don’t know. Probably in that, maybe more, maybe less. Got no idea, but like, He’s in demand. Do you know what I mean? And there’s the supply is his time and effort. And if he’s doing one movie, that means he can’t do another one. And if the perception is, whether you realize it or not, it’s that if Tom Cruise read this script and decided to do this movie, it must be really good.
That’s why he is, you know, almost a guarantee in the at the box office. Will Smith used to be in that category, but I,
[00:45:57] Christian: I was, I was just gonna say, I hear Will Smith is available.
[00:46:00] Karl: Yeah. Oh, poor bugger man. I again, but poor. Well again, I just, Poor bugger. Now we’re gonna get, you know, so he was a boo boo. I think we said this last week of the week before, but the guys got literally, I don’t know, four decades.
Three decades of keeping his nose clean, being a great role model, being amazing. You know, he’s the singer, he’s the rapper, he’s the actor. It’s, you know what I mean. Funny as hack and everything. And then 1, 1 1 boo boo. And it was a big one. So anyways, he, he’ll be fine. I think in the end he’ll do what he has to.
To come back, but it, but, but supply versus demand, right? Tom Cruise, Nicole Kidman, I’m trying to think of, you know, whoever else. But by the way, so those things,
[00:46:48] Christian: the rabbit hole of who,
[00:46:50] Karl: because like Taylor Swift, if there’s only one Taylor Swift and she needs to be on stage, she can only make money in one city.
So one of the things that we gave well we’ve given this a few different times, but like, there’s. The, the, the show in Vegas, Siegfried and Roy, right? With the Tigers, I think they both passed away now, the poor buggers. But they were in Vegas making all kinds of money, you know, 200 million, whatever they were making per year, getting paid obscene amounts of money.
But there across the road, there was the Blue Man group, right? Five guys said whatever number of guys painted themselves blue. And what up happening is they end up making 10 times as much money. And they had shows in Paris, they had shows in Singapore, they had shows in Australia and Vegas and wherever else simultaneously on the same night.
And they were making gobs and gobs of money in the five guys or whatever. Number of guys that started of the Blue Man group were watching TV at home with their families, with all of these blue man groups running simultaneously around the world. Right? So. Supply versus demand, right? That. Tom Cruise, there’s only one of him.
So this is where he’s gotta charge big, big, big, big biggies to, you know what I mean? Be the man. But you know, Tom Cruise is not the blue man group. The guy’s got no leverage whatsoever. That is not scalable growth. I talked to a buddy over a beer over the weekend about this growth and scale. People think they know what growth is and they think they know what scale is.
They do not. On average growth is when your revenues. And your expenses come with it, hopefully. At a lesser speed, right? But that’s growth. So you grow and your expenses grow too. Scale is when your company grows and your expenses stay moderately the same. So think of Facebook. It doesn’t matter how many, you know, if you decide you not on Facebook and you decide to join today, there’s no, you know, there’s no hard costs fundamentally for Facebook to take you on.
And there is, it’s negligible and they’d never feel it in a million years. That’s scale. So growth and scale. Tom Cruise, Supply versus demand. Taylor Swift, Justin Bieber, Michael Jackson back in the day, whoever . Yes, I have horrific tasted music. But anyways, they, you know what I mean? They, they, they got, they, they got a legit supply and demand problem.
What kind of business are you building? What kind of business is your client building thinking? Blue Man Group versus Sigma and Roy might have some value. So,
[00:49:20] Christian: Didn’t see that close. Didn’t see are you Reed and Roy or Blue Man group? Close. I didn’t see this coming so well done. Shoots. I didn’t see that.
Hey, by the way, when for you to be, you know, the viable wanted guy in high school, is that why your girlfriends were always quote unquote from out of town ? Is, is that, is that what happened there? How’d you know? Oh yeah. No, he’s got no, I’ve got a girlfriend. She’s like what’s his name? The, the brother in Oh my God.
Oh, what the mo. Anyways, I’m not gonna go down this rabbit hole. Napoleon and Dynamite. You’re like that dude. The I’ve got a girlfriend. She’s maybe a little,
[00:49:58] Karl: maybe shoots maybe made it
[00:50:01] Christian: work. Listen, bud. There. There it is. All right, everybody. Thanks for tuning into another episode of Business Coaching Secrets and Dating Advice with the man on top of the hill, King Karl.
And if you’re not on the inside and getting access to the pre-show, like seriously, we just pumped the pre-show up like crazy at the beginning of this, you might wanna get on that because we’re dropping bombs inside of that in absolute gold nuggets. Visit focused.com and subscribe today. And again, if you enjoyed the podcast, please share.
Like, comment, follow all those wonderful things. And of course, if more than anything, if you like it, rate the episode as we know that all the streaming services give a huge amount of weight towards that. So please leave us a review if you like what you heard. And that is it for another week. I cannot wait to see what rabbit holds.
We go down next week. We will see in the next episode. Remember folks, progress equals happiness. Take care of everybody.
[00:50:55] Karl: 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 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.
Karl Bryan, creator of Profit Acceleration Software™
Karl is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Focused.com, home of the largest private community of Business Coaches (24 countries and counting) in the world. His goal is straightforward… to help serious coaches/consultants get more clients. Find out more at focused.com