BCS: 166 | Advice For A New & Established Business Coaches

Business Coaching Secrets with Karl Bryan

BCS 166: In this episode, Karl answers questions about:

–  The most important piece of advice for a new business coach

– The best advice for established business coaches

And more…

Karl Bryan helps business coaches get clients. Period.

For more magic on how you can grow a coaching business by attracting small business owners, filling local live events, and closing more high-end coaching clients… go to focused.com

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EPISODE TRANSCRIPTION –
(transcription is auto-generated)
SFC 166
[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. Hey, hey, hey. Hope everybody’s doing good. This is Karl Bryan coming at you, Filling in for none other than one road dog who can’t make it today, but I’ve got fantastic news. I have called. One of our legendary coaches who may or may not look like Jennifer Lopez, by the way, but Rola Diab is with me, and she’s a bit of a rockstar coach, very established, done some very, very cool things.
And she had a few questions and I asked her, I said, Rola, could you do me a favor? Why don’t we do this live? And I, because the, the podcast road dog couldn’t make it. So I said, Roll up. Why don’t you ask these questions to meet live And then, Vibe That goes well. And if you’re listening to this, apparently it did then.
Then we’ll, we’ll put this, this week’s podcast. So there you go. So Rola Diab, how are you? My love. What’s going
[00:01:35] Rola Diab: on? I am doing amazing, Carl. How are you?
[00:01:38] Karl: I’m doing good. You’re hanging out. I think you might be doing better than me because you’re hanging out in South Beach, Miami.
[00:01:46] Rola Diab: I just got back from a trip this last night and there was a rainbow outside this morning on the water, which is stunning.
You can’t, you can’t come back from a trip and, you know, look at walls when you get to see rainbows and water. It’s pretty amazing.
[00:02:02] Karl: There we go. Very cool. South Beach Rainbows was there, Was there a Lambo driving by in between you and the Rainbow ? I’m sure there was. Yes there. Did I hit it? There we go.
[00:02:16] Rola Diab: There’s a lot down here, so
[00:02:18] Karl: I’m sure there was, Was there a Rolls Royce immediately behind that limbo?
[00:02:23] Rola Diab: I mean, Karl they’re all here, so just wait two minutes, you’ll see.
[00:02:28] Karl: I know, I know I’ve been there. Very cool. Very cool. But anywho, so, so tell me, so do you mind, I’m kinda putting you on the spot here a little bit.
What do you think though? Again, we were having that com and said, Look, let’s just, let’s just record this and see how it goes. So what do you think? I putting you on spot. Cool. Hitting me with some questions. I like being on the spot. . Perfect. So then, so it’s meant to be, Let’s go. You got a question for me?
[00:02:52] Rola Diab: Yeah. So we’ve got a bunch of new coaches starting, and I, I wanted to ask your advice, like if you were to give one bit of advice that you felt was really important for a new business coach, what would it be?
[00:03:09] Karl: Hmm. Okay. That’s interesting. Advice. So what would I say? First of all, overwhelm is, Quickly about to approach.
So again, you know, the tortoise versus the hair, slow, steady, methodical steps each day. I would say that don’t get, like lead generation is something that people get all hung up on and that’s all that they can think about as they’re, you know, moving into this. Leads. You, you just aren’t, you know, you have 21 to one client, you’re gonna be busy.
So, you know, you just did. This isn’t Facebook advertising is what I’ve said recently. I believe on a podcast, but doesn’t matter at the end of the day. You know, you just don’t need to, you know, lead generation isn’t what it’s all about. With your goals, I’m gonna encourage you to set, you know, set yourself a little bit of a target.
What most people do is they get into a career. And again, it’s a little bit of an experiment and it’s, you know, you know, minute to minute, hour to hour, day to day, you know, like whether or not they’re gonna keep going, you’ve got to go all in. Again, I’m back on a welcome video that I created recently. It was that if, you know, you gotta go, if there was a secret, which there isn’t one, it’s to go all in.
So you gotta go all in. And the way that I do that as just set your sites on something other than you, right? Like you always do more for others than you’ll ever do for yourself, right? So a metaphor or a good, I’ll always talk about. You know, it’s, it’s, you gotta wake up and you gotta get your daughter to gymnastics or your son to baseball, and it’s 6:00 AM and it’s Saturday morning and you’re knackered, you’re tired, you manage to wake up, you get into the shower, you rock and roll, and they’re there five minutes to six, right?
It’s your turn to go and hit the gym. What do you do? You roll over, hit the snooze button. So you just wanna, you wanna make it about others, you know, like why is it that you’re doing this? Like, nobody becomes a, a business coach. A coach for that matter by accident. You know, it’s normally, you know, a little bit of a calling.
And, you know, on this podcast, and as you know, like with our training, what I, what I like to do is I say, I, I, I don’t wanna call people out, but I do want to call on them, you know, for like a greater purpose. So like, if you read my daily email, you’ll see like literally at the bottom of everyone. I talk about separations, I talk about divorces, I talk about depression.
I talk about, you know, the reality is that, you know, suicides happen at a disproportionate rate amongst the, you know, entrepreneurs. And it does just the average. The average of folk. So, so, you know, that’s why you pick up the phone. That’s why you reach out. That’s why you go to the networking group.
That’s why you put the pitch, That’s why you offer your, your coaching. Do you know what I mean? Like you’ve got a, a bigger picture. So I would, I would call on somebody to go significantly deeper than the surface. To work out why is it that you’ve become a business coach and where we’ve had a lot of success when I’m helping people develop their story and, you know, come up with a way to, like, a really good story will build a high level of rapport really, really quickly.
And normally what I’ll find is if you go to your three most painful experiences as an individual, and sometimes you gotta go way back into your childhood, sometimes it’s not that far back. Maybe it’s a death of a parent or it’s a death in the family. Maybe it’s a separation, maybe it’s a divorce. Maybe it was something that happened in school.
Maybe it was, you know, you getting picked on and bullied in, you know, school and that sort of stuff. But you go back to your three most painful moments and you will normally find. That in and amongst that experience is how you end up getting so drawn to becoming a a business coach. Shoot, maybe complimentary to that, like when I used to get people started as a business coach just as way back in 2005, I used to give them this 40 page.
And it was really good. And it was about, you know, imagine risk reversal, loss leaders creating a market dominating position, a unique selling proposition, all you know, the basics of proper upfront offer. The basics that I would encourage anybody to build, you know, strong foundation for their business for.
And what I said is that look, I’d give it to ’em and I’d say this is either gonna put you to. Or it’s gonna keep you awake? , okay? It’s gonna be one or the other. I put you to sleep. Look, business coaching probably isn’t for you, but if it keeps you awake and you can’t not see the opportunities and you can’t think to yourself, My gosh, if I do this for, again, the chiropractor, the dentist, the butcher, the bake of the candlestick maker, if I get together with them and I help them, Any of this stuff in place, which again, really easy to do because they gave me the ABCs and the one two threes in the report.
We’re gonna absolutely kill it then. This is probably, you know, the right industry for you and we should really look at, you know, a bit of a test drive, get you started and see if you like it. And invariably Rola, what would happen is I would give somebody that report. This would’ve definitely happened with you.
I’d give it, give them the report and. You know, like we’ll get back together, say three days later and they say, Oh, I am so mad at you. Right? And I’m like, What? You know what happened? And they say something to the effect of, I haven’t been able to sleep all week. All I can think about is that report helping the business owners, what we talked about getting started, how long it’s gonna take me.
So, you know what I mean? Like they really lay it on. So, So basically that’s I don’t know if that’s, you know, normally I’d like to give you more of an abc 1, 2, 3, but these are the things that I’d be thinking about, you know, a new coach. Certainly the rule is don’t experiment, right? It’s just experiments normally don’t end well.
You gotta go all in. And I think that, you know, you, you’ve probably seen a little bit of that. You’ve been in coaching a long time, so, so that’s what I would say, That’s what I would say. What do you, what do. You like.
[00:08:49] Rola Diab: I mean, I, I think you’re spot on. I remember when I started with you guys and I absolutely went all in. I made sure I was on as many calls just to hear what people were saying. Cuz it’s one thing to go through the training and it’s a whole nother to. Get into conversations about it, that’s when you’re diving deep and you’re, you’re hearing it in different ways. Once you hear things in different ways and from different angles, it’s like a whole nother level of saturation that affects you and it really ingrains it to a whole nother level.
So, yeah, that, I’m a hundred percent on board with that thinking. And I, and I think a big reason why I did well quickly, right? Because if I, if I didn’t do that, I think it would’ve taken me a lot longer.
[00:09:30] Karl: Yeah. Yeah. You were, you’re definitely all in Rola. Your personality is you’re all in girl, for sure. But, but that’s what it takes.
Right. But, but it’s not, it’s not being all in. I mean, you’re like, this is, you know what I mean? I think you, this is your soul. Like I said, you know, you feel cold is what I think. Yeah. You know, that’s, and that’s the magic. And some people are, some people aren’t. And you know, and again, you and I have had conversations about this where there’s easier ways to make a living.
Right. You know, that. I know that, my goodness. It’s just easier ways to make a living. But I don’t know that there is more rewarding ways. I don’t know. There’s more you know, excite, you know what I mean? Like, it’s just so much fun for the right individual and the. You never need to retire because Warren Buffet, he’s 90 years old like Warren.
People think of Warren Buffet is the stock guy. The truth is he is a consultant, right? He provides time and money for businesses that he can influence positively. And he can’t influence you positively. He won’t give you his time or his money. He’s 90 and he’s still going strong, right? And all of us can do that.
We can keep going. We, we can slow down a little if we so choose, but you’d never, This isn’t like, you know, a realtor. When the ne, you know, the knee, the ankle, the hip goes, and you can’t get up and down the stairs. You’re not gonna be selling a lot of real estate. I got bad news for you. Right. At some stage, you know, you’re selling pharmaceuticals and you roll up and you got, you know, a little, you know, the hair’s too gray or you got too little of it, or you’re kinda walking with, you know what I mean?
Like not walking like it says it’s time for, This is why people retire at 65. Right. In the, in the corporate world, it’s just time for you to move on and bring somebody younger with more. Is generally the way that’s not, there’s no need for that here. So, yeah. So yeah, there you go. What do you think?
[00:11:09] Rola Diab: Love it. I love it. So what would you say for more established coaches, like the coaches and consultants that come on board that are, you know, they’ve had some history and, and you know, you wanna give them advice, what would you say would be your best advice to more established coaches?
[00:11:30] Karl: Best advice. Look, it’s all about, look. I would say this You, you’ve got to work towards being the best business coach you can be. And I can almost, That sounds like it’s out of a textbook and platitudinal and just, you know, Harry Fairy, but truly you know, you just, you, that’s what you gotta do. You know? You like an example, like I taught myself, I, I’m gonna say it’s five years ago now.
I just delved deep, deep, deep into accounting. And I have never been the finance guy, the math guy, the account guy, by any stretch of the imagination, you can learn more at business asset finance manchester. I mean, I think I understood profit margins maybe at a higher level than the average bear, but I was most definitely not an accountant. But why did I do that?
I knew that there was a next level for me that really, it wasn’t that there was a next level for me, there was a next level for me to be able. Provide value to our community of coaches. And I knew that I, you know, I believe that, again, I’m the all in guy, right? Where I, if I’m gonna go all in, I just know that I’m gonna be able to take something very complex and I’m gonna be able to dummy it down at a level that others are gonna be able to follow.
Cause that’s just the way my mind works. And that’s just what, what I, you know what I mean? That’s, I wouldn’t, I wouldn’t do it for any other reason. Right? That’s what we do. So that would be an example of that. Right. But you know, you really, you gotta become. It’s like, you know, we have a lot of digital marketers as clients.
First thing I say to them is, gosh. Facebook advertising is like 2% of helping somebody. They need to have a proper, upfront offer. They’ve got, you know, if you pro the average business, if you provide them a hundred leads in one day, the whole ship would fall over. Right. It would sink, you know, they’re not ready for it.
You, you’ve gotta have a legion rec mechanism. You’ve gotta have a conversion mechanism. And then most importantly, you’ve gotta have a fulfillment mechanism. Right. And that’s, I think that’s what I’m saying here at Rola is that. They’ve, they’ve gotta like, again, the leads and the conversion. If they’re an experienced coach, they’ve been going for a long time.
They probably get the whole lead gen meets conversion. But it’s the fulfillment thing and it’s the retention of clients and the lack of attrition that’s really gonna get them to new heights. So I challenge them and I say, Look, you know, tell me what you know about accounting. Like, it’s not like, you know, I.
Co-wrote a book Accounting 1 0 1 for business coaches. I mean, like I delved into it. We ran training, right? Which you did, you know, four days of how to read financial statements like, and, and I’ll tell you, there was lots of accountants on and anybody who, you know, gets a hold of the recordings is gonna see accountants raising their hand consistently and going, Holy smokes.
Like where I, you know, literally when I almost. Perfect wording was I, I’ve been an accountant for 35 years and I only wish I would’ve seen this when I first got started, right? So, So that’s, you know what I mean? Like the digital marketer, I would encourage them to go and become, you know, to understand profit margins, understand proper upfront offers and the importance of, and how to structure it.
How to create a market dominating position, a unique selling proposition. You know, something that’s gonna separate them in the words of, I believe it’s Peter, the, like, you should never have competition, right? You don’t wanna work to be the best, you wanna work to be the only Right, which. But anyway, so that that’s what I would say, you know, go all in on the fulfillment and becoming like the best restaurant in town is not short of a customer, right?
The same way that the best hotel is the same, the best, you become the best business coach in the entire city, in the entire state. And aspire to be the best in the entire country, including Tony Robbins become better than Tony Robbins. And you think Tony Robbins is short of a client? Why? Cause he’s the best.
And he’s also the best at marketing himself, by the way. And he’s not shy on doing so. So that’s what I’d say is you know, really you’re an established coach, go all in on the fulfillment and you’re gonna find your retention’s gonna go through the roof. Your attrition’s gonna fall off a cliff in a good way.
And you are gonna crush it. So that’s what I would say. There you
[00:15:30] Rola Diab: go. To that note, I for someone like myself, I came in. And numbers are have never been my strong suit. I suck at math. And so for me to go through that financial training and now I can put together a p and l i, I like that blows my mind.
And the level of confidence that created for me was. It was, you couldn’t replace that for anything. Right? I mean, that was everything for me because confidence is such a big factor, right? Yeah. And for me, going through that financial training was game changer because I understood things on a whole nother level.
And when I first heard it, I was like, Okay, wait, I’m not totally getting this. And then going through it, I was like, Okay, now I got it. And it’s like just formulas and it, you guys really made it so that it was comprehendible. So anyway, I I love that and I’m completely an advocate of what you’re saying cause it worked for me.
[00:16:24] Karl: Well, okay, Roo, show me to tell you. So here’s what we found, right? So we put out, you know, like, cuz this is an internal thing, right? You have to, you know what I mean? So everybody’s listening. Like, you had to be a client. You can’t go, and this is not available to the public, right? There’s a lot of programs that we run, we create, and we only make them available to folks with us.
And like, see, we put that out. And I’ll tell you that if like as an example, if I put out a program, how to use Facebook ads, how to complete Facebook ads, we would’ve had twice. We had a lot of people enrolled in that, by the way, But we would’ve had twice as many people in the Facebook ad training as we did, and how to read financial statements.
And I will tell you though, that what we found, and I told, I, I knew that this would happen, but the caliber of coach that that brought in was signif. Like it was, it was high. Like I said, there are a lot of, like, we have a lot of accountants that work with us. A lot of the accountants, I mean the accountants were signing up for that training.
And I, so what I’m trying to say is that, I wanna challenge every, like, you know, for the speaking to the experienced coaches specifically, you know, what is it that you’re attracted to? You know what I mean? And, and training on how to read financial statements. Is that the, like, that’s not the kind of stuff that would keep you awake at night.
Again, that’s the stuff that would put you to sleep, but, Roll it to your point. Like it’s literally when you understand. But that training laid out how you can read financial statements and you can literally, you know, find your fees literally sitting on a document. You know, you’re, you know, let’s just say somebody’s $2,000 a month, 24 grand a year, they’re $4,000 a month, 48 grand a year, and they can sit down with a financial statement and literally, At their, at their fees go, Right?
Like, that’s where I’m making my fees in the first 90 days for the entire year, if not the first 30 days, by the way. It’s game changing, but you get what I mean. Like, it, it’s, it’s not as sexy as Facebook ads and therefore it was passed over by a lot of coaches. It should have been. Diving into it, but you’re that higher level, you know, you’re, you’re operating at a significantly higher level and then you went, this is an opportunity for me to go higher.
Right. And that, that’s what we wanna see. And that’s, that’s what I was trying to say a minute ago. If the, the coaches become the absolute best you can be, and if you see training on accounting and you bypass it because you’re not a math person, or it’s just not exciting to you, that’s, that’s a swing and a miss in my opinion.
So, absolutely.
[00:18:46] Rola Diab: Yep, for sure. So what would you say is from what you’ve seen, the best way to gen generate leads? And even once you do generate those leads as far as managing your current book of clients and continuing to generate new business, the balance
[00:19:07] Karl: between those two balance. Ok. So, Okay, I might answer that in two parts.
Okay. So one best way to generate leads. And then the second part was how do I, how do I balance generating leads with actually looking after the clients that I have so that I don’t. Right. So
[00:19:25] Rola Diab: the prospecting and then fulfillments essentially?
[00:19:28] Karl: Yeah. Okay. Yeah. Nice. Okay. Great question. Okay, let me answer the part one, lead gen.
Again, I said a little bit earlier, just don’t feel like you need to go and generate a whole slew of a like. That leads you just don’t, like, you get 20 clients and you’re gonna be flat out. In fact, if you’re new, when you get 10 clients, you’re gonna be super busy because you, you don’t know exactly what you’re supposed to be doing, and you should be spending, you know, a good amount of time, you know, helping your clients and going above and beyond, et cetera.
Well, I don’t know if your conversions are, you know, 50%, you need a whopping 20 leads, you know so anyways, and, and there might be, you know what I mean? Like, you just, you just don’t need to, you know, generate a ton. So what you need to do is you need to find an accountant willing to take you for a test drive and send three clients your way and see what you can do.
You need to find a networking organization, right where, see the. What the, the deliverable that accountant should be providing is building the, the best business that they can. Right. Well, that’s not what they do. What they do is they provide you tax returns and keep you compliant so that you, you know, you don’t get in trouble with the the law.
Right. That’s crazy. Right. They should be helping you build complete business. The networking organization, what do they do? They provide you referrals and the group provide referrals to one another. Well, my question is, what happens when somebody calls? Right? Like, do they have an offer? Do they have a. Do they have something interesting to say?
Do they have something that separates ’em from the competition? Are they talking about being, you know, the fastest or the best? Are they talking about being the only and have they ever been given that advice and ever thought about, you know, working to be the best is absolutely critical and I believe world class should be the standard for everybody.
That sounds platitude, andal, but I don’t think a lot of people are working. They’re not waking up in the morning and speak you. How can I match Michael Phelps’s efforts in the pool in my business? Right? Like, absolutely being the best, but being the absolute only. Right? So are they thinking along those lines?
And the answer is, is no. So the networking organization should actually be providing your services as to help, you know, build proper businesses and proper models. So again, I would say to the networking group, Don’t send me anybody, don’t send me everybody you ever met. Take me for a test drive. Like when you go by a car, what do you do?
You take it for a test drive. So people are very comfortable with that terminology and they get it and just say, Look, you know, Dave, the networking guy, or Susie, the, the, the gal that owns the networking group. Send me three people. Let’s see if I’m as good as I say I am. And 90 days we’re both gonna know, right?
And you are three clients are gonna be the benefactor and let’s go kill it. Somebody sells advertising, the magazine, the newspaper, the billboard, the radio station, the digital marketer, same thing. Get them to send you three clients. So anyway, so if you got three people to send you three clients, that would be nine and you’d be well on your way.
Double those efforts. You’re at 18 and you’re, you’re real busy gal, real busy guy with your business coaching. So, so best way to generate leads I joint venture. But with a hundred percent certainty what I would do if I started. But do understand that the little red arrow you are here, like my, I like to speak in public.
I like to be at the front of the room. I like to try not just educate, but entertain that room. And I’ve done it lots and lots and lots of times, but, I had to start just like a lot of the folks listening here, but I would do, We have a program called Live Event Mastery with a hundred percent certainty.
What I would do is I would run local live events with five to 10 people in a room. I would put food, like, you know, breakfast in front of them. I would do a bang up presentation and provide them. You know, more value than they could have ever dreamt that they would’ve got to the point where they wouldn’t need to pay me.
They could literally just leave and do what I just told them to do, and they’d have a, you know, a killer business. But again, they, they wouldn’t do that, right. We would just literally, you know, we would wow them so much. They’d be like, Gosh, if he does this generically and with, you know, this room of 10 people for generic businesses and not really drilling down on mine, gosh, if I got together with this, One to one.
Geez. Could you imagine the value and the ideas and the roadmap that I would walk away with? Yeah, absolutely. I’ll, I’ll pay him to do that. So that’s what I would do is I would, you know, put on an event I would speak in public. There’s a little bit of magic there, Rola, which, you know this, but I’m speaking to everybody listening where when I am speaking and there’s a room of 10 people, and then I say, You should write, you know, write this down, and then 10 pens start scratching on the work.
There’s a lot of power in that, right? So what happens is it starts the, the coaching relationship in a good way, where I say, jump and they say how high. They don’t ask why, if you know what I mean? Right. So one of the rules that I had back in the day was, I was coaching was that you had to see me speak in public or I wouldn’t take you on as a client.
I mean, that’s when I was well and truly established. But that was one of the rules that I had. It was for that reason because I wanted good compliant clients and I found the ones that, you know, saw me speak in public. You know, in a powerful way. And the way I just described, they, they were better clients and they lasted longer, you know, higher retention.
And then again, compliance being critical. Cause when I tell ’em what to do and not everything works, but the other thing roll out, what I, I found that I got more forgiveness, right? Because when I, I’m not magic and their business isn’t magic. I mean, business is a complicated. Right. Well, if we did undertake a program or a marketing initiative or whatever, and it didn’t work well because I had that credibility, there was a lot more.
You know, leniency that, Oh, okay, well look, and, and it was okay that I said, Look, that didn’t necessarily work, right. Tried to make everything work, of course, but that I’m not magic and I didn’t pretend to be so, so anyways so generating leads, that’s what I would do. And then, and then what I would do and again, I created a video where I talked about this, you know, many years ago now, but where like what I would do is they would always be, I had unbelievable conversion for putting people in these rooms.
Like, again, most coaches are struggling to. You know, one presentation a month. I was doing three. I was doing three a day you know, on Tuesdays you know, morning, afternoon, and then evening and, you know, we were killing it. But when I hang on, I was going somewhere with that. What was I, Rolo, What was I gonna say?
something generating leads the rooms. Oh my gosh, I lost my train. You know what? Bottom line is? That’s Oh, oh. The reason there had to be a reason. My conversions were really high to get you into the room because I had a re actually, I had a conversation literally about that this this morning where we need a reason.
Okay, So let’s say Rola, you’re a florist, okay? And there’s an award in. You know, there’s a award in Miami given to the number one florist, and then there’s 10 you know, 10 businesses are nominated and then they have the final three, and then they have the winner, right? Well, if you were in the top 10, the reason you’re invited is cuz you were in the top 10.
If you’re in the top three, the reason you were invited is cuz you were number one, no number three or number two, If you won, the reason you were invited is because you won. If you were in a chamber, you know, the, a member of the same chamber that I was, the re because you’re a member of the chamber that’s the reason you’re invited.
If you were in the same BNI or networking group or whatever, that’s the reason. You know, there was always a reason cuz you, your LinkedIn profile, you know, because you’re a husband, wife, team, business. That’s the reason because you’re a florist. That’s the reason you get it. Like when we were calling you, it was, there was always a.
And then believe me, but this takes, this is 10 times as much work with your lead gen and your conversion to get them to the event. But I gotta tell you that your results are gonna be ridiculously higher as a, as a result. So, so I could, you know, you have a reason frame, you know all about that. So, so that was the other thing.
But that, that’s, that’s what I would be doing right there. And. I do live events like crazy, One a week with five to 10 people, and I’d be a very, very busy coach, very, very quickly with a hundred percent certainty. What do you think? Do you like that? Do you agree? I like that.
[00:27:34] Rola Diab: And it’s certainly wor, I mean, I didn’t do quite as many, but I did them and it definitely worked for me.
So everything you’re saying I’ve done. So we’re on the same
[00:27:43] Karl: page. There we go. Nice, nice, nice. And so how do you balance? Oh yeah. Perfect. Well, I, I, Look, I’d go straight to your calendar. I, I, I believe that there’s magic. In fact, I’ve been asked different times, you know, like the number one tool that, you know, I have in my coaching business, quote unquote, and I’ve often said, Google Calendar.
Or if you, you know, like your calendar, the way that you structure it with different colors, different times, different activities, Very, very powerful. So what I would do is think, you know, you didn’t take 30 depended upon where you’re at. You know, do you have 15 clients or do you have five? Okay, So the difference, that’s the little red arrow you are here so that your calendar would look different with those two different dynamics.
But let’s assume you’re just getting go and you’ve only got a few clients. 30% of your, your calendar would be booked off in a different color, and that’s where you’re doing client work and where you’re putting client appointments. Mm-hmm. . And then the other, what I say, 30% and then the other 70% is gonna be, you know, phoning joint ventures, speaking to joint ventures, meeting with joint ventures.
Generating leads, doing, doing research like I just described, Right. To put 10 people in, you know, in that, you know, the room at the Chamber of Commerce you know, next Tuesday. So I’d be spending, So that’s what I do. I would, I would. I would calendarize everything, including, you know, like you should have a t, t t.
Time to think should also be on your calendar. Talked about this many times in the past, but like, how much time or is anybody taking to sit back? Like we talk about meditation, which is mission critical for most business owners that wanna. Accomplish a lot cuz it’ll, you know, it’s a step, it’s a, it’s a step back to take multiple forward.
But like the same thing, just ask yourself one question. Go into a quiet room. No phone, no bathroom breaks, no getting up, no stretching, no anything. Just sit in a chair with a pen, a piece of paper. Ask yourself a question right across the top. And. Put it down. Well, that should be on your calendar, right? And then time to measure.
By the way, what are you measuring? If you don’t, if you don’t measure it, you can’t manage it. We all know that saying, but are we living it? And that’s where you’re like, Okay, I called, you know, I got a hold of 16 business owners and I’ve got three coming to my event. Well, look, what are you gonna, If you need to get nine people, you know, you’ve gotta find another 32 to get ahold of if the same percentages hold.
Right. Right. So anyway, so calendarize it is, is what you gotta do. Whereas I would dare say 80, probably 95% of the business owners, the business coaches, if I look at their calendar, we’d, we’d be very disappointed with the number of activities that they’re, they’re calendarizing, they’re just kind of going up the seat of their pants and then wondering why they feel a little bit disorganized, if you know what I mean.
Right.
[00:30:38] Rola Diab: Yeah, that makes sense.
[00:30:40] Karl: Beautiful. What do you think? Does that help? Does that answer what? Yeah, no,
[00:30:44] Rola Diab: for sure. For sure, for sure. Okay. And then do we have time for another question or two? Yeah,
[00:30:50] Karl: yeah, go for it.
[00:30:53] Rola Diab: So how about for high and high ticket clients? What would your advice be around getting those?
[00:31:06] Karl: Well, I, my advice is that you accept the statistics again there, you know, there’s univer, like there’s universal principles, right? That you nor I or Tony Robbins or anybody you’re getting away from, and that is that, like I talk 80 20 all the time and the power of it. And if you go 80 20 and then you go to the 20 and you go 80 20, and then you go to the 20 and go 80 20, do that four times, you get one 50, right?
So 1% of your activity derives 50% of your productivity. Your EF. Et cetera. The, That sounds good. The problem is taking a magnifying glass over the 20 and getting to that 1%, which is a lot harder than what it seems. But that is, And then somebody’s there going, My gosh, really? Like, is that one 50? Look, it’s Aug Universal principle, right?
1%. Of the, you know, 1% of the people in the world own, you know, 50% of the shoes. Like, that’s just the way it is. That’s the, that’s the stats, right? Okay, So that’s a universal principle. So 96% of business owners do not make it the seven figures. Okay. And that’s not, that’s not gross, or, sorry, that’s not net, that’s gross, right?
Like as in, that’s like top line revenue. That’s not how much money they make. It’s how much money, you know, lands in the bank. So therefore if you put a hundred people in the room, you’d have one that is over. You know, you’d have four that are over seven figures, You know what I mean? Like you gotta accept those numbers.
So, high ticket clients, you have got to build yourself a really, really strong base. And you gotta be accepting the fact, like if you, if you fill a lo, we hear it all the time, right? And you’ve seen it, you’ve lived it, you know, you know, you’ve got coaches underneath you and they’ve experienced it where they’re putting, you know, they’re filling these rooms and what do they say?
Nobody’s got any money, right? And it’s like, It, it’s, it’s, if you put 10 people in the room, one’s gonna have any darn money. And, and of course that’s a slight, you know what I mean? That’s 96%. Don’t get it. The seven figures. You don’t need to get the seven figures to have yourself a ridiculously profitable business.
So, The advice to going high ticket is you’ve gotta have somebody worthy of a high ticket item in front of you, and you need to be accepting of the fact that a lot of folks won’t. That being said, I don’t know that’s the answer you’re looking for, because ultimately what we’ve got to do is we need to build a value proposition.
Like, like you and I have the good fortune of being in a business where we’re able to sell money at a discount. Okay? What I mean by that is if I have a $20. Right. And then you have a 10, and I say, Rola, would you like to trade? You’d ask three questions, right? One, is he full of it? Two, is this for real? And you’d look for some social proof.
And then three, you’d say, You know, will you do that deal please? And then you’d say, Will you do it again? Will you do it again? Will you do it again? Will you do it again? Because who wouldn’t exchange a 20 for a 10? Right? Are you crazy? So what we’ve gotta be able to do, if you’re gonna do a high ticket, high value offer, I believe that the easiest way to get it closed in our world, right?
It’d be different if we were talking about fashion or selling fashion, right? It would be basically that I wanna put together an offer that looks like. You know, if there’s $25,000 of hard expense, like hard, you know, value there that I’m willing to send to you, sell to you for Tim, and then if it’s, you know, a $50,000 unit, I wanna show you a hundred thousand dollars of hard value.
And the way that you present that, like, you know, again, it needs to be line by line. Like, roll up, you sign up today, here’s what you get. Boom. If you sign up for this, here’s what you get. If you, and if anybody wanted to see me do that presentation, you could. If you go to my YouTube channel and you watch a presentation that I did where came, it was a bunch of internet it was for a bunch of digital marketers, but I basically did a presentation where, you know how I made $789,000 or something like that in 12 months as a consultant and I mm-hmm.
You can literally see me go line by line by line with bonuses. All with a, a value attributed, you know, attached to them to say that, Look, if you sign up for X, Y, Z, this is what you’re gonna get. So anyway, so that, you know what I mean? Like, I would, I would just build a value proposition where they almost think, Are you crazy?
That’s what I would say. And I, and not everybody is gonna be built for it. So to get to those high value, high end, you know, like Tony Robbins, he puts a thousand people in the room and there’s only a hundred maybe that can afford his a hundred thousand dollars program. Right. And he’s just accepting of that.
You know, you, you go to a Tony Robbins event and there’s 5,000 people, there’s a few thousand in there that had to borrow the money to get there. Right. And it’s just the way it is. Right. He’s magic. So I don’t know. What do you think that help, Does that make sense? Makes
[00:35:51] Rola Diab: sense. Yeah. You’re essentially saying to focus on the ones that, you know, the the low hanging fruit
[00:35:58] Karl: essentially.
That is it. But you gotta know that you’re gonna have to, there’s, there’s nine that are not low hanging fruit, and you’re gonna attract them. So if you do a local live event at the, the chamber, you know, and you put 10 people in the room, there’s just going to, you’re looking at a number of people that want to afford you, but just can’t, you know?
Right. And that’s not, you know, there’s third party financing and there’s all sorts of creative ways and there’s borrowing money from, you know, family members. So it’s not to say that you don’t, but it’s just you. There’s some universal principles here that. A lot of folks, they just, you know, their appetite to spend is significantly, you know, greater than their appetite to save.
So that’s just not going to change. Right, Right. Yeah.
[00:36:42] Rola Diab: Okay. And so, Carl, how would you say, what would you say is the best way to ensure that you keep clients for a long time?
[00:36:51] Karl: And by the way now, This is the, Yeah. Awesome question. What I’m trying to say look, it’s just so you know what I mean. Like, if you have a coaching business, like, here’s another question. Look, if you, if every client you had sent you two referrals, you triple your business immediately. Right? And by the way, that would, for most coaches that are doing well, you literally can’t keep up at that point.
Like you can’t even afford to triple your business. Cuz you just, you’d, you’d run outta bandwidth, right. So, so yeah, talked about it a little bit earlier, you know, something like, what, what’s the level of training? Like if, if it was somebody on the phone, right? Like I’d go like, Like I know you, like you literally just did our training on how to read financial statements.
Well, you know that the reason you put your hand up to do that training is that you were like, Well, this is the kind of thing that’s gonna allow. To take my coaching, my career, and my talents, and my skills to entirely new heights. Right. And you self-describe as somebody who sucks at math, right? And then boom, you did the training and you’re like, my gosh, it’s, it’s actually about a million times easier than I ever thought.
Right. Like, you know, it’s more like, think of it as addition versus multiplication For anybody listening, it’s just not that complicated. But you know what I mean? Like, so what’s the level of training that’s, you know, the, the individual listening, like, if you wanna take your. You know, do you deserve the client?
Can you take, like I say, you know, if you show me a, you know, a 25 million company, I’ll show you an HR company. Do you know what I mean? Like, they’re no longer about lead gen. They’re no, like, they’re about hiring good people. Well, coach question, you took your client from 10 million to 25 million. How much do you know about hr?
So do you deserve to keep that? And have you gone and found an a, you know, somebody that’s masterful at HR that could really help these guys in areas that you’re not proficient, You know what I mean? Like, do you kinda, like, do you deserve to keep your client past a certain point? You know, you, you start with Facebook ads.
What happens is you end up with a fulfillment issue big time, and you often, you know, end up with an accounts receivable problem because again, they weren’t ready for it, and now all of a sudden they’ve got this. Ro, you and I have talked privately about this, right? Where like you’ve got a business that’s doing X, let’s call it 500 grand a year.
Small business again. You know the local bakery, the butcher, the baker, the candlestick maker, they’re trucking along at 500 grand and they make X right. And then you help ’em. You turn on the Facebook ads, you turn on the lead gen, you hire them a sales team, you get this sales guy or gal that’s just unbelievable.
And you’re again, a sales trainer. So you’ve done this very successfully. And like they go to a million, right? They go from 500,000 to a million, and what happens very often is that they make less money to million, and they were making it 500,000, but. We’re like, the revenues are up, we’re now at $83,333 a month, which is, you know, double where we were at.
But where in the world is all the money? And then they think accounts receivable as some magic pill that all of a sudden, like they, you know, their bills get paid, which is not necessarily the case. Unless you have a system to go and and collect it. So now all of a sudden they’ve got this thing called bad debt they need to deal with and manage cuz like at a million.
So, and again, we talked about this recently with the Road do and the podcast, but what happens is at 500,000. And then you grow to a million, you’re significantly more vulnerable at a million than you were at 500,000, right? Like what? I mean, you got more clients, you got more staff, you got more, again, accounts receivable, you got your accounts payable is higher.
You’ve got, you know what I mean? You’ve got all these new found issues, so you become more vulnerable at a million. So my question is, coach, right? That is retaining the. Are you the person that is gonna help them go from 500,000 to a million with one eye on margins to make sure that they’re maintaining their margin, maintaining their accounts receivable to make sure that that money’s hitting their bank account?
Or are you just the gross revenue? Gross revenue, gross revenue, gross revenue? You know, gal, guy that ends up with a vulnerable client wondering what the heck happened? You know what I mean? So, so it, it kind of comes back to the answer I gave earlier. You’ve really gotta concentrate on being the absolute best business coach you can be.
And the way you do that is you go get the skills, you, you know, you train yourself, you build up the skills and obvious, as you know, we built software around all of this and group coaching software around, of all of this that our coaches get trained on at a ridiculously high level. But like that, that’s what you.
That’s what you gotta do. You wanna retain client again. It, it’s kind of a different, like, you get the question, right? Role is that do you deserve to keep your clients is, is what I like to ask, right? Throws it back and they go, Oh, dear me. And then that individual is the person that will respond to all of a sudden the training on reading financial statements as opposed to falling for the sexy.
And delusional, you know, Facebook ad, Facebook ad Instagram, you know, now it’s TikTok and everything else, which is a lot of lead gen. I don’t know, what do you think? How am I doing? You agree with that? You like
[00:41:55] Rola Diab: that? Yeah, no, a hundred percent. Yeah cuz the differentiator being that, you know, are you showing up as someone that can really help, right?
Cause you know what you’re talking about, you know what you’re, you’re doing and you can make that impact. So yeah, absolutely. I mean, every week that I speak to any of my clients and I know that I’m making a positive difference, and they feel it, they see it. Right. They know they’re growing and moving in the right direction.
I, I make myself sticky. Right. That’s just what I
[00:42:22] Karl: want. Yeah. That’s it. That’s it. Retention. That’s just retention again, and you, and again, you’ve just been around long enough that you know, but I, I would imagine early on in your career, you made the mistake, like I certainly did. Right? You made the mistakes that I described.
We were like, you know, really about growth and really, you know, just you. Lead gen and what? And sales. And it’s like Go, go, go tiger. Let’s do it. And then that happens and then all of a sudden it’s, Whoa, we got a set of problems here. Like HR set of problems like bookkeeping issues and accounts receivable problems and you know, accounts payable blowing up that, you know, an inventory you, you watch the show, the profit, Right.
Marcus Limonis, which I love that show by the way. And like how often does he go in and inventory. You know what I mean? Like, and he’s like, We gotta just get rid of this dead inventory. It’s not going anywhere. It hasn’t been managed, it hasn’t been tracked. It’s up. You know, you need a ladder to go get the stuff and nobody’s, you know, it’s been there for three years.
It’s just pull it down, get rid of it, sell it at a loss, put the cash in the bank and let’s start again and make sure that we track inventory properly in the, in the future. Like, that’s not what, And you know, that’s just a very prototypical business that grew quickly without a proper system in place. The.
So there you go. What do you think? Does that help? What do you think you like? Of course.
[00:43:40] Rola Diab: I mean, that’s why I’m here.
[00:43:42] Karl: Learn from the best legend. Thank you. Ro high five. And you’re not so bad yourself, by the way. You were doing some amazing things. So I high five you ro and I appreciate. What do you think?
Are we this good? What do you think? Did I, How are we doing? I think,
[00:43:56] Rola Diab: I think we, we nailed a lot of it. I mean, if there. I mean, people always have questions, but I think we touched upon some of the more important aspects of the business that people need to really, honestly pay attention to. Cuz if they pay attention to everything that we, we touched upon or you touched upon, I think they’ll, they’ll, they’ll grow and they’ll do well.
And that’s what everybody wants, right? To be able to create a business that they’re successful at. There we go. High
[00:44:22] Karl: five. There we go. Coming at you folks from South Beach, Miami. Boom. There we go. And ro I super appreciate you rowing up and agreeing to do this and do the q and a, asking me some questions.
Very, very cool. So, road dog. I’m nervous about him. Really? You, You did pretty darn good.
Carefully be happy with that role. . I’m gonna, I gotta take that back. Take that back now. It’s awesome, ro up. Appreciate you bud. You’re.
[00:44:53] Rola Diab: Of course. My pleasure. Anytime.
[00:44:55] Karl: Oh, you beauty. Thank you so much. 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. That can’t afford your high-end coaching fees. Check us out at focused.com.