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  4.  | BCS: 173 | Leveraging + Industries/Jobs Going Away

BCS: 173 | Leveraging + Industries/Jobs Going Away

by | Business Coaching Secrets Podcast, Karl Bryan

leveraging

Business Coaching Secrets with Karl Bryan

 

BCS 173: In this episode, Karl answers questions about:

– Leveraging

– What industries & jobs going away

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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leveraging

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EPISODE TRANSCRIPTION –
(transcription is auto-generated)

SFC 173

[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. 

[00:00:39] Christian: Ladies and gentlemen, boys and girls coaches around the world. Welcome to another episode of business coaching secrets. It is your boy, the road dog here with none other than the man. The Mrs. Doubt fire lookalike, the best Robin Williams impersonator in all of kettle valley, Karl Bryan, who welcome to the show shoots. 

[00:01:01] Karl: Are you doing shoots, Mrs. Doubtfire coming at you. That’s it. And 

[00:01:05] Christian: I it’s, you know, the excuse of I can’t get a haircut cuz of COVID that, you know, that expired about. Oh, I don’t know, like a year ago. Right? So I don’t know what your excuse is. I’m sure if I know your wife at all, she’s not looking at you and saying that looks really good.

Like, no, just don’t hear her saying that beam’s wife. 

[00:01:28] Karl: It’s wife loves it. My wife, not so much, but be’s wife. She’s like, oh my God, I love your hair. So. 

[00:01:35] Christian: There you go. There you go there. Yael. All right, listen. Before we dive into any sort of new stuff here last episode we were talking about leverage. I’m not sure if you remember that. Anyways, and I just wanna kind of, you know, like what were the factors of production you talked about a long time ago, right? Like where Like that information, the data Overland and labor, like, I don’t even know you were kinda all over the map, but like just that conversation regards to leverage. Can you, I think there’s a bunch of different types. Can you just dive into that a little bit again? Cuz I think that there’s probably a few more nuggets of goodness inside of that. 

[00:02:14] Karl: Yeah. You mean so factors of production. Yeah, like land and labor, like back in the day land and labor, and now it’s down.

Yeah, exactly. Yeah, yeah, yeah. Okay. Maybe just for, so, okay. In the last episode, we’re talking there are five types of leverage. You got people, money, software, marketing, and knowledge. Maybe some quick examples, you, you, most people think about leverage, and they think about, you know, buying a house and then they put, you know, 200 grand down and get a million dollar house or put a hundred thousand dollars down and get a $500,000 house.

So that’s leverage right. You use a hundred thousand dollar cash. Get a $500,000 house. So it’d be leverage YouTube, you put one video on YouTube and it could be watched one 10, a hundred, a thousand, 10,000, a hundred thousand, a million times. That same video or CRM might be a better example. Like you put together, you get one email address and you could send that one E email address, literally, you know, hundreds of emails and they could be templated or personalized, but that, you know, leverage say I a hundred thousand people roughly get.

You know, my daily email again, the platform provides massive leverage. I don’t, yeah, this provides leverage maybe. I dunno if we talked about this, but like bees, we get a mutual bud owns a a trucking company. And like the real play in trucking is the software. Like, am you may or may not know, but Amazon had gone heavy into delivery of this, you know, not only do they have planes, but they never got trucks driving around, dropping off you know, all of the goodies, right.

So they don’t have to rely on DHL or FedEx, etcetera. So the, without knowing anything about that business, I can tell you that it is a software play all day long and twice on Sunday. The same way, you know, conversation with Bebes is around. Look, is he, you know, expanding his trucking company and trying to find, you know, different way, you know, filling his trucks and, you know, having more pickups and basically being able to increase the margin that he can make on each, you know, on each On each route, right?

Like you could imagine if you’ve got a truck that’s half full you’re missing out on some massive margin by, by filling the rest of the truck. Right? Well, in order to do that, that sounds good. You gotta be, you don’t wanna be dropping the wrong stuff off at the, you know, the wrong. You don’t wanna be dropping the wrong stuff off at Costco and the wrong stuff off at Walmart.

Next thing you know, you’re gonna be out of an account. So in order to manage multiple pickups, software would be the magic pill. Okay. So that would again be you using software for leverage. Importantly, knowledge is leverage. Warren buffet will, will tell you that insights can change everything.

And I mean, everything, the trick is that sounds good. The trick is to be able to come up with the, you know, come up with the quote unquote insight. Exactly. I just spent a, a week with my dad, a big, you know, poker player. He loves poker still, you know, he’s hammering away playing poker tournaments, you know, and, you know, wakes up in the morning and plays poker.

It’s kinda funny. But you know, he is 80 years old and that’s his stick. Right. But, but think about, okay, so poker used to be a game, played by guys in, you know, kind of, you know, think downstairs lights dimmed. Kind of hiding from the police, quite frankly, you know, and you know, decades ago. And then today it’s on TV.

Okay. What’s the distinction from taking it from downstairs lights, dark to TV. And somebody came up with the idea of putting two pieces of plexiglass, two pieces of glass on the table. So they put a camera underneath so you could see the cards and it literally took it. From a, you know, sport played around a table to a TV sport that people could watch without the plexiglass, without the glass, without the ability to see the cards.

TV’s, nobody’s gonna watch a TV, you know, you know, staring at five cards overturned on the table, right? Like that’s not, as in the ones you couldn’t see, it’s not gonna happen. So that, that would be an example of an insight. That would be an example of knowledge being leveraged. Think, think insight I’ve said this many a times, but Warren buffet, he reads for 80% of the day.

So, what is he actually doing? He’s looking for insights. Right? So, so anyway, so and then there’s of course people, you know, people’s time and expertise can be leveraged, right. But then if you’re leveraging people’s time for a cleaning company or removing company a concrete company, those are lower, lower end activities.

So you don’t have as much leverage as if you do, as somebody is, you know, requires a you know, a degree. You know, like higher level employees will be significantly more reliable. Also there’s a challenge with leveraging. Those might not go down that rabbit hole today, but no doubt, you could see that look, people.

I just wanna make sure that you’re you’re understanding last week we talked about leverage and those are examples of, and I would be encouraging you for, to be thinking about those. And then also thinking about those with your client. Because I don’t need to sit down with a chiropractor, the dentist, the butcher, the bake of the candlestick maker, and know that they are not sitting there thinking about leverage, right.

They are, you know, stuck in the forest, staring at the tree missing, you know, the forest entirely. So I think that those are good things to be thinking about, but road, dog, to answer your point. So like, okay. So back in the day basically land physical labor. And capital were like the quote unquote factors of production and then today.

So let’s like back, back in the day. Right. And then like today information. Okay. So think data it’s the number data is the world’s number one commodity by a million miles. Right? So information two is reach slash distribution. Look, think of the YouTube video. It’s one thing to put a YouTube video up, but are you gonna get, you know, one person.

To to see it, or are you gonna get a million people to see it? Well, you know, your, the reach distribution, your ability to get distribution is the magic pill. And then three would be computing power, right? So like kids are going off to college, spend 50 to 200 grand or, you know, plus plus plus whatever they’re spending, but Lord knows you know what it.

Cost, but in a lot of cases, they’re spending 50 grand to learn an antiquated system still based on land, physical labor and that capital. And it’s. Kind of scary if you really think about it, right? Like there’s almost nothing that can’t be learnt online for a small investment. Like you wanna become a coder, you know, you want to code software, you could go teach yourself online for a very small investment.

You just need to teach yourself and you need to be dialed in, but you could absolutely do it. You know, copywriting, all kinds of copy, like legit copywriting courses, not from the influencer, trying to tip you upside down and make as much as they possibly can out of you. But legitimately learn, copy for a nominal amount, right?

Website design, you could learn how to build websites so easily online. There’s absolutely no reason you know, to go to school for something like that, landscaping, anything mechanical, you could find on YouTube, just so many things that you could learn. You know, by not going to school, that being said, I think there’s a massive social component to it.

But generally speaking, you need to spend 50, a hundred, 200 grand spend 4, 5, 6, 7, 8 years in school, you know, in some cases. Yes. But in many cases, no, certainly entrepreneurship is absolutely zero reason to. To, you know, have to learn that from school again, the social aspect of it and the networking aspect of it different.

But I think there’s other ways to get that you wouldn’t have to pay. So like I’m just thinking of where like logical questions. That you might wanna be asking yourself after realizing like the, the, the new factors of production, again, information reach slash distribution and com computing power.

Like, are you gonna collect data? And it’s one thing to collect the data, but if so, you know, what power does it have? What, how are you gonna utilize it? Like we’ve hired a, a data scientist recently. And basically for that exact reason, he’s turning things upside down and providing us all kinds. You know, graphs and explanation for things that quite frankly just went, not that they went over my head, they just went straight past me cuz we just, we just weren’t looking at them right.

When you really start looking at numbers, it can be amazing what you could learn, right. Or maybe let’s dummy this down and you know, thinking data, scientists might be a little you. Off topic, but like think JBS and complimentary services, right? How are you gonna get reach slash distribution? When DoorDash was getting started, they gave away a million, 1 cent big max.

So think about that. They got a million new accounts set up on DoorDash, and then McDonald’s got a, a million users that got a big Mac delivered to their door. You know, basically using that, like getting McDonald’s delivered is not something that’s been happening in the past. Right. They do the drive through you walk in there.

That’s been, McDonald’s play, right. Well, they wanna adjust that. It’s a, it’s a genius strategy. And again, DoorDash got a million downloads and McDonald’s got a million people used, you know, experiencing the McDonald’s getting delivered because you’re a big concern that you might have is that McDonald’s getting delivered.

The burger’s gonna be cold. Right? Well, guess what it shows up and it tastes like a big Mac straight over the counter. Well, you have a good experience. You’re gonna continue to order from them. And by the way, that’s exactly what’s happened, right. McDonald’s is becoming more and more popular through. And lemme tell you computing power, if anybody were to be worried, like that’s just not a problem.

Right? Like Google calendar was built with satellites all over the world. Right. We all carry like a NASA level computer in our pop pocket. So yeah, just look, factors of production, information reach slash distribution, computing power. There is no money in what’s easy is if, what I, when I say that if it feels like that’s a little.

On the high, you know what I mean? The higher end, you gotta kill some brain cells to really understand, you know, what that might mean for you, for your client, for the accountant, et cetera. Like getting a JB with the accountant is hard. But it’s worth it, right? Like one accounted, one magazine, one blog, one chamber, one business broker, one promotional company, selling mugs t-shirts and pens, one networking group, like B and I, and a successful local operator.

Getting people together for, you know, coffee in the morning, one advertising medium, like a coupon book or a signage company or the billboard company. When you drive up the highway and see all those billboards like that company and the person selling advertising for that company. You know, one person could literally, you know, send you more coaching clients than you can handle.

You got 21 to one coaching clients. You are flat out. Well, one of those people, the accountant with 400 clients could send you 50 to a hundred clients per year. And they probably won’t by the way. And that’s not on them. That’s on you because do you have a system in place to motivate them, to facilitate the referrals, to handle the business as they send you the referrals so that you can keep taking the business?

Or do you need to put a governor on it? So, you know, that’s, that’s something to think about. Like most people go to the account and they send me people, the, the accountant doesn’t send people and they get frustrated and kinda throw in the towel. Right. Rode Doug. And you’ve seen that a thousand times.

I’ve seen that a thousand times. Like, like it’s hard. But it’s so worth it. People just give up too easy. So, but forget all that. Yes. So factors of production Again, thinking land, physical labor, and capital. That’s just where your client’s mind is at, by the way. It’s just not like look information road, dog in closing.

Is your client building a database? And the answer to that is probably no. And if they are building a database, are they utilizing CRM software and following up with them properly? And the answer to that is. You know, probably no I’m gonna put 80%, but it’s probably closer to 90% plus. So that, that would be an example.

They’re, they’re not think, you know what I mean, they’re not making these, these types of adjustments and then the reach distribution, the more email addresses they build up and the more contacts they build up, the more people that they’re able to distribute their, you know, their education to their offers to.

Anyway, so that’s road, Doug. That’s what I got that that’s. Is that what you, what do you think, is that what you’re looking for? 

[00:14:10] Christian: It’s it just got me thinking two different things. One is I actually put up a post last week I think. And it was talking about it was her mosey made some sort of comment of how everybody’s basically going straight for the sale and no, one’s actually.

Looking at the long term plays, right? Like just exactly what just talked about. Like, there is nothing more powerful than a list period, right? Like if you have a list, you can make money on demand and if you aren’t growing that, like I get it, like, yeah. There’s, there’s always a need for that. That quick sales funnel.

But there’s also something to be said about playing the long game and building that list. And I just don’t think there’s enough people taking that game seriously. So, 

[00:14:48] Karl: Well, shoot, last week, my email, I like one of my daily emails was that, you know, that there is over 500,000 searches every month for how to delete my Facebook.

And then how many people do we both know that their entire business is built on the platform of Facebook? Oh, it’s ridiculous. 

[00:15:06] Christian: It’s absolutely ridiculous. Right. And, and that’s just, it, people, people need to be able to pivot. They need to own their data and their information and, and that’s, that’s, that’s an issue.

So, but yeah, anyways, there, there it is. The other thing that, that struck me, we were talking about door dash and obviously we’re heading into. An interesting time, I would say you know, I just think with inflation being where it is, all of this it’s funny, right? This quiet quitting. You heard about this quiet, quitting thing.

Didn’t we just used to coasting didn’t. We used to call it anyways, leave it, leave it to the millennials to try and steal something else from us and make it their own hashtag. Any who I just love on somebody every week, bud. This has to happen anyways. So but without all being said, I just think, you know, economically, I think we’re in for some pretty interesting times.

So I’m just wondering your thoughts. Like what industries or what jobs do you see going away in the next few years 

[00:16:07] Karl: industries? Or jobs, jobs? Yeah, it wasn’t that long ago that we went into the bank to do banking on a Friday and there was like a monster lineup right now we get pissed off if we actually have to go into the bank.

Right. And then they got drive through you know, and another thing comes to mind like Facebook. Remember when Facebook used to be for kids. Now, approximately 10 years, 10 years later, you know, it’s for grandparents, right? That’s what kids, 

[00:16:32] Christian: this is, this is coming from the guy who also keeps telling me, TikTok is for kids.

Just, just throw that out there.

[00:16:41] Karl: Didn’t whatever. So, so, you know, but time marches on and these things become obsolete quick. So I, I think again, we’re gonna see that accelerating, you know, what kinda like waiters, cashiers, bartenders, look, they’re gonna be robots. And by the way, you’re gonna like it. You go to the, you know, the local, you know, you go to the pharmacy, you go wherever now, you know, whatever you go to the grocery store and now you got your self checkout.

Again, becoming more and more and more popular. I was just at airport yesterday and again, you know, I basically, every, you know, I’m basically filling out my form and I’m you know, what do you call it? You know, clearing customs and that sort of thing again. And that’s very digital kind of process. So that, you know, again, so like, cuz I say that road, Doug, cuz you know, we say waiters, cashiers and bartenders are gonna become robots.

Like oh no way. Like, oh my gosh. That’s like, you know, another planet it’s gonna happen and you’re gonna like it. You know what I mean? Like absolutely. You know, think newspapers publishing you know, magazines, they’re all go into blogs. Right? I, they don’t go into blogs. They’re go into a hybrid of. You know, travel agents again, realistically.

I mean, they’re still gonna be there for the high end stuff, but I mean, that’s, that’s that that’s ship sailed. I mean, that’s, you know, everybody’s doing everything on Expedia. I mean, my wife, you know, she can pump out you know, travel plans, you know what I mean? She can just pump anything out there real quick.

You know, manufacturing workers, again, you know, getting things from, you know, high, just picture like Amazon’s warehouse, like, you know, you need, you know, A a particular you know, thing, whatever it might be, you know, a box of screws comes to mind, but like a box of screws and like, it’s got a, you know, it’s got a a Delio what’s it got?

It’s got like a bar, what am I trying to say? It’s got like the barcode, right. And like a robot’s gonna do that. Right. And then it’s gonna have like a go go gadget arm, and you’re not gonna have to have these. You know, the, the forklift and whatnot to get up nice and high and to pick things. So, so that road dog, you know, tax truck drivers, we’ve got a buddy, who’s got a trucking company again, self-driving vehicles all day long, twice on Sunday.

And by the way, the roads are gonna be a hundred times safer. People get nervous like, oh my God, computers driving. I’d way. Prefer a computer to be driving down the highway. Then the guy half to sleep, right. Certainly the guy with a possible drug or alcohol habit on snowy roads. But anyway, so those types of things, you know, copywriting maybe in our world, like, you know, copywriting is now being farmed out to AI.

You know, it’s not that good. Just yet, but probably better than you’d think if you’re not in that world, but at the same time, it’s not quite there. I’ve noticed like Gmail is getting significantly better with the, you know, predictive text, you know, and the way that I, you know, shoot things out, you know, it picks up my language patterns said, and the way that that works might like machine learning versus AI.

Like we’ve got our guys kind of studying this right now and like, so here’s so. Artificial intelligence, what like machine learning and an AI, a lot of people don’t understand. They think it’s the same thing, or they think it’s categorically different. The way that AI works is that artificial intelligence will never be dumber than it is on day one.

And then the machine learning comes in and it learns your patterns. So I think of, so if, you know, if my emails have significantly better predictive text, It’s because the machine learning has been watching my patterns, watching my patterns the way I, you know, I phrase things and whatnot. So it’s getting smarter and smarter and smarter.

So then the AI can kick in. So the machine learning educates the AI so that the AI works significantly better. So the more it’s like you know, when you turn on Netflix, right? And then you watch a certain style of show and then it starts recommending shows for you. On day one, it’s stupid. And then it gets smart every time you watch a, a movie and then watch it to the end or turn it off 10 minutes in you know, like it’s learning, it’s learning, it’s learning, it’s learning, it’s learning.

And then that makes the artificial intelligence significantly smarter. So artificial intelligence You know, just think algorithms and, you know, like insanely quick math equations and the way that they do it is machine learning teaches the artificial intelligence. So the artificial intelligence takes over.

So anyway, so that’s machine learning versus AI, but you know, those types of things. Under, I give you that because as you’re thinking about the way that, that works machine learning and that AI think of copywriting. Okay. Given what I just said, do you think copyright copywriting might get a little bit better, a little bit better, a little bit better, a little bit better, a little bit better, a little bit better.

And the answer’s absolutely right, but it’s gonna take time cuz the machine needs to learn more. And I don’t know that that’s a perfect, in fact that’s definitely not a perfect black and white, but that’s what comes to mind. So, so yeah. Yeah, those are types of industries, but you know, just low end staff you know, just, you know, drivers, bartenders, cashiers, waiters, tellers, you know, these types of things are, are.

Or going by the wayside and you’re seeing it right now as you, you go to buy groceries and you self check yourself out. And then what you realize is holy cow, that was actually a pretty good experience, right. In that you accidentally don’t put something in or you put something in the bag and it wasn’t scanned.

And what happens like, Hey, you know, get that back up here. Like how the heck did they know? Right. But. Pretty damn good. That’s why anyway, shoot. I, I don’t know. I not, 

you 

[00:22:01] Christian: know, I just gotta say like, I, I can’t even imagine Carl Bryan walking into the grocery store and somebody going, oh, you gotta do the self checkout.

And you’re probably thinking it’s just a bunch of mirrors where you get to look at yourself.

Disappointed. If it’s one thing I do know about you, you’re gonna be pretty pissed. You go into Hooters and, and there’s a robot that’s serving you. I know you’re gonna be pretty disappointed. That’s 

[00:22:26] Karl: that is for sure. That would change the experience 

[00:22:31] Christian: definitely would that speaking of though some completely unrelated, but self checkout related and not in a mere kind of a way.

It what’s interesting is even isn’t the Amazon, I think in Seattle, They’re doing it where there’s not even a self checkout anymore. Like you literally, yeah. You just grab it, your bag and you walk out the door and it just dings your card and off 

[00:22:50] Karl: you go buddy, it’s already happening, right? Absolutely.

Yes. What’s what’s the company that Amazon bought the is it whole foods? Is that it? The health Amazon. Anyway, so yeah. It’s oh buddy. That’s AB that’s right. You just take it off the shelf, put it in your Delio and ding, ding, ding, ding, ding, your credit cards getting hit. If you put it back, it just reverses it.

Like 

[00:23:10] Christian: it’s like, well, this is it. Right. So if you’re still thinking self checkout, you’re sorry, you’re behind the game. like it’s already going well beyond that. It’s sort of like, well, it’s like a, a local startup that I’m working with here for you know, like Like it’s a calendar, but it’s got an algorithm built into it.

So, yeah, real quick, just to give everyone the example. So th this guy, they bought a an irrigation company and obviously if you’re anywhere in the Northern states or in Canada every fall, guess what you gotta do. You gotta blow out your sprinkler system while these guys are like, oh shoot, I got 700 of these blowouts.

We gotta get done. And we’ve we gotta do this in like 30. So they they’re like, okay, well we gotta create something which the, the algorithm will automatically place the closest appointment next on their calendar. And it continues to reroute an update based on new appointments coming in. Like, it’s just brilliant.

[00:24:05] Karl: So calendar with geofencing then, is that what that is? 

[00:24:08] Christian: Yeah, a hundred hundred percent, but they, they just keep, they keep adding more and more to it, which is it’s pretty wild because it’s sort of almost like an open loop. Right. Because if somebody says, yeah, I just need someone to come in the afternoon.

And now somebody else books in it’ll kind of auto, correct. And, and then redo your entire schedule. And now you can imagine with rising fuel costs and everything else, how efficient this is, right. It’s, it’s, it’s unbelievable. But back to your point of waitresses and stuff like that, I may joke around, but with the labor shortage and everything else, that’s happening now, holy smokes.

That stuff can’t come soon enough. Yeah. Cause it’s super frustrating, no matter where you are, if you’re traveling or doing whatever, but all that being said. Let’s go the opposite way. Are there any sort of nonobvious because I know I like to call you captain obvious, but are there any nonobvious industries that you see going away?

[00:24:58] Karl: Non obvious industries, well, low, low, you know, this world, right? Like low level financial managers and wealth managers. Right. That’s kind of already been taken over from things like, you know, Robin hood, which. Kind of gamified the whole trading experience, which I’m not a huge fan of, but that’s all good, but, but, you know, that’ll be done with software and AI, the high level stuff needs personal relationships, right.

But the lower stuff is, is going bye by days of three cars, per family are a memory. And then therefore that’s gonna affect the car wash, gonna affect, you know, gas stations at every corner. Just don’t see that happening, you know, in prime, prime, prime real estate, don’t see that happening. I dunno if this is college sports in the USA, you know, I see college going, when I say bye-bye, it’s not going byebye, but it’ll be an 80 20 thing, right.

Where 20 will stand and 80 will fall over. And what’ll, what’ll break the camels back is a rival league cuz they, the money that they make out of sports, you know, in, you know, collegiate, you know, collegiate sport, right. Run the universities who have very, very high degree, like none of those guys or gals get paid and think of, you know, you.

2050, in some cases, a hundred thousand people watching a football game, a basketball game, or well football game. There’s some money being exchanged, right. Jerseys and everything else. So a rival league for let’s call it 18 to 25 year olds. We have that, you know, in hockey. And that’s why in Canada, you know, it’s called the CHL, the Canadian hockey league.

And then we have, you know, five leagues, I believe it is across Canada. Like the w O the O O. What’s called the Q, right? So let’s Quebec league and the Maritimes, but anyway, so it’s all broken up. So that, you know, like there’s divisions, you know, built, you know, in geography, cuz again, you don’t want everybody having to be traveling.

They don’t use planes. Right? They, they travel by bus, so they don’t want too, too much travel. So they make a ton of money. So. That I see. So the rival league lookout, you know, phone company, actually, we, I remember we talked about this a while back, but like phone companies do, do you really need a phone number nowadays?

And you do, but with Skype, like the amount of time that I spend nowadays, you know, Skype, WhatsApp, Facebook messenger calling on, you know, audio or whatever on Facebook messenger doing video on Facebook messenger, of course, zoom. It’s crazy. Right. So that, you know, movie theaters look rapid decline, you know, I look top gun crushed it, right.

I think the Elvis movie, which by the way, I’ve seen it a couple times and I very I thought it was pretty cool. Pretty cool. And I didn’t know the story pretty sad, quite frankly. But like, no, one’s going back to the theater. I don’t think. And the real estate required to make it work. I mean, that’s what happened to the drive-in right.

It was just difficult. So that, that, you know, I just don’t see that Being the same, I mean, cable TV. I don’t know that that’s not the captain obvious one, cuz that’s already on the decline hardcore. Like my nine year old daughter, you know, I watch a, you know, I’m watching a football game, I’m watching a baseball game, watching a hockey game and she’s like, is that live right?

Like YouTube and subscription services. Like Netflix Disney, Amazon prime, Amazon prime. They’re just like taking the super bowl will be, will be on Amazon prime. My opinion. People smarter than me could give you the answer to this, but the super bowl will. On Amazon prime at some stage that’s my belief, right.

You know, retailers with show, like, you know, basically like retailers are showrooms for Amazon, right? Like if you wanna make a retail experience, work. You have to create an experience, right? So like, imagine if you had a, a hockey shop I could come in and I could use the sticks. I could try on the skates.

You’d have like a mini hockey rink in there that my kid, or I could jump on and kind of wheel around a little bit and experiment skateboarding, you know, having like a, a ramp, of course there’s insurance issues with that, but like the idea being able to go in and experience it, you know, skis, that kind of thing, like simulators So, you know, if you wanna be able to compete in retail, you’re gonna have to create an experience.

Cuz people are just going, you know, very quickly towards, let’s say that they’re going towards buying online would be like, you know, it’s. The ship’s already sailed. Right. But be becoming more and more popular, but it’s very common for people to go into the retailer and then basically go to Amazon and then buy it.

Or, you know, Zappos, even like traditional journalists, like we’ve got a magazine, right. You know, working on some, you know, some stuff behind the scenes on that to Jack it up like, you know, traditional journalists working for the newspaper for the magazine, for the, you know, for the, the. You know, the, the, the TV station, you know, just they’re becoming entrepreneurs, right.

And they’re marketing themselves and they’re selling their stories. Right. And the better they are presenting the story, creating the story, filming the story, putting together, you know, something that’s interesting. You know, again, the secret to a story is always conflict. Every episode of Seinfeld friends, game of Thrones, breaking bad, whatever the central theme is.

Conflict always. Right. Well, the better the reporter is that creating that conflict, creating the story, the more interesting their stories are gonna be the more people they’re gonna watch the news. Right? Like, so that, that’s how that, again, the ship sail, I mean, this is happening, right. You know, Bezos bought the Washington post for influence, not for money, right?

You know, I get a magazine. You we’re not running around, but not that we shouldn’t. And not that we won’t, but we’re not running around selling ads. It’s, you know, spent well over a half, a million dollars to date building up the magazine, but it’s, it’s, it’s not, I’ll give you the red hot tip, right? It’s not about selling, you know, a hundred dollars subscription.

Yeah, it’s just, it’s an adjustment in. In approach in psychology. It’s it’s long it’s long ball play versus short term play, right. Thinking 10 years ahead, instead of 90 days from today, which sounds obvious, but frankly, the average entrepreneur, that’s the, the biggest liability, the average business owner.

And Roddo, I know you share that thought cause we’ve talked about it lots, but they’re just thinking in, in 90 days is like a long time for them. Right? Bezos is think. You know, he’s, he’s, he’s thinking he’s thinking 10 years, and then again, he’s retired, but he, I mean, it’s not that he doesn’t have a very heavy hand at Amazon still, but again, he’s just a decade guy as is Musk as is Warren buffet as is Charlie Munger as is Ray Dalio, all the greats, all the greats when somebody is something that’s very rare is old and rich.

Okay. And somebody is old and rich. You should listen to what they have to. Cause they know what they’re doing. Cause I, what am I saying? Charlie Munger and Warren buffet and Ray Dalio possibly would be a better, you know, a better person to listen to than maybe an Elon Musk, which by the way, I think that Elon Musk has some very, I think that there’s things that Charlie Munger and Warren buffet just don’t get like crypto as an example.

You know what I mean? So I think that there’s a balance there. So don’t take that as black and white, but, but old and rich is very rare when somebody is old and somebody is rich, you should listen. You know, politics, you know, the reality is Trump love him, hate him. He got elected because of what he did on Twitter.

Right. So. A 35 year old will market himself into the position of president of the United States of America, in my opinion, in the not too distant future. And by, by the way, on that note, maybe relevant, I actually had a conversation with my dad and a bunch of his buds just literally yesterday, but the day before.

But I was, I was just saying like we were talking politics and of course it’s always a very. You know, politics with, you know, some folks that are, you know, 60, 70, and 80 years old, possibly not the best topic. Right. Go really sideways, really quick with differing views. But I’ll just tell you this. What I explained is that I believe that crypto will be the next big party.

Like, you know, how the greens I believe that crypto will be a party and I think that it will it will take shape and it will gain some serious steam once it gets going. And remember when I say crypto don’t don’t think Bitcoin Bitcoin is Bitcoin’s got exactly zero utility and Bitcoin could go to zero in two seconds.

Right? Crypto is block. Right. Like I wrote about this literally five, six years ago, you can Google my name and crypto or my name and Bitcoin or my name and blockchain. And you’re gonna see that I wrote about, I, I said, you know, what do business coaches need to know about Bitcoin or something to that effect?

Right. It was sexy title. And then I basically talked about blockchain for the entire thing. Right. So when I say crypto don’t be thinking Bitcoin, be thinking, you know, the platform that Bitcoin is without blockchain. There is no Bitcoin. And hopefully, you know that, but that’s, if that, if that is news to you, this is a topic that you should probably delve into a little bit so that you understand, cuz I believe that you should understand this stuff at a 30,000 foot vantage point to know what’s coming.

Cuz blockchain is gonna change things in a very real, very tangible way. And that being said, like NFTs, like see NFTs right now. Like they’re replacing, you know, hockey cards that I used to trade back in the day. And you did road dog, right? Baseball cards, basketball cards, like they’re being replaced with moments.

Right? So like an NFT NFT with utility is gonna replace all kinds of stuff like golf memberships and masterminds and NFT with utility. We talked about that maybe a week or two ago. I really believe is again, just it’s it’s the future. And, and it’s like the hockey stick growth road, Doug. Right? Like, you’re talking about, like, I’m talking about doing, you know, a, a self checkout, and then you’re talking about walking around the store with a, a grocery cart and then just literally exiting.

And not talking to anybody, not doing anything. So that’s like hockey stick growth. That’s the way these things, once they start to take shape, that’s how they take over. That’s how quickly, you know, we’re gonna bypass basically the, the checkout. And we’re gonna go straight to just pick up your stuff, throw to the bag and walk out the store.

You’ve got your credit card on file. Bingo bongo. It’s over, but that’s that’s hockey stats. That’s that? That is compounding at its finest right there. Right. Anyways. Look, maybe actually I just might do this road. Like, let me just explain real quick for somebody who doesn’t understand blockchain, here’s the way I explained it to a table full of 60, 70, 80 year olds.

Right? So MLS. Okay. So if you’ve ever bought a piece of real estate, I can tell you whatever I want about my real estate and how much it’s worth, how much I bought it for and how much it’s worked today, et cetera, et cetera, et cetera. The truth is that you could go to MLS and you can see exactly what I bought it for the day that I bought.

You could see exactly what I still owe on it. You could see the person that bought it before me. You know what I mean? Like the MLS, like that’s, it’s not blockchain, but it effectively is right where every, the total the transparency, because what would happen if you, if it was like the wild, wild west, a really good realtor could convince you to spend.

You know, a million dollar house or a million dollar spend a million dollars on a $550,000 house because they’re a kick ass salesperson. Right. That would be a problem. Right. So, so the blockchain, the MLS, the, the transparency stops that from happening is very important that it’s regulated. Right? Well, think of blockchain is the same of that, but for other industries, right?

So like if you, you owned a magazine and let’s say that it came out every Friday and then the backage sold for 10 grand. But if you didn’t have it sold on Friday afternoon, guess what? That bad boy could go for two grand. Well, if I spent 10 grand last week and somebody else was selling, you know, buying it for two grand this week, I wouldn’t be very happy about that.

Well, imagine the trans how that would change if, if you know, the advertising prices were on the blockchain and then think of how Google does it. And Facebook does it right with like an auctioning kind of process where you can see total transparency. You can go see, you know, how much somebody’s spending on ads.

It’s right there, similar kind of transparency. And if you are, you know, not happy with transparency, what does that say about your business? And if you are happy with the transparency, what does that say? Or who do you wanna deal with? Do you wanna deal with people that are gonna be transparent? Do you wanna deal with people that are gonna be the opposite?

So. So, so the MLS is kind, so that’s blockchain, right? With a transparency. And then, then fractional ownership is something that’s gonna come thick and fast. Like you need to own your own airplanes. Probably not, unless you’re doing an insane amount of traveling, but what if you and nine other people, 10 of you own an airplane?

And you did an average amount, but you just don’t. Well, you wanna walk, you know, to the airport, 10 minutes before walk on the plane, have the things started when you get on you, walk on, you know, with your family and then you’re at your destination. You get off and you walk out like, does that sound like a slightly better experience than getting strip searched and taking off your shoes and pulling out your laptop?

That sounded like a slightly better experience. Well, that might be, and, you know, do you need to own the house on the hill with the ocean view in Mexico? And the answer is maybe, but probably not on your own, but what if you and three other families used it and on the, you know, and again, it was on the blockchain and everything was, you know, like fractional ownership.

That’s an example of what’s gonna be coming thick and fast. So anyway, so that’s the way that I would explain it. So I just, I, I think that there’s a lot of changes going in that, so business coaches, as we’re, you know, thinking about these things and industries going away and, you know, trends, what we’re really talking about here, road dog are trends, right?

Trends are your friends, if you like the idea of making gobs of money, Google is not a trillion dollar company because they’re really smart guys that went to a good school. They’re they get a trillion dollar company because of something called a trend. Right. Facebook is not Facebook because Zuckerberg went to Harvard.

Zuckerberg is, you know, worth what he’s worth and Facebook’s worth what it’s worth because they’re trend. So trends are your friends. If you like the idea of making a lot of money and you wanna help your clients make it a lot of money. Well, you should keep one eye. Should you go all in? I mean, we talked about this a while back.

It was probably six months ago, but these, these companies that were going all in. On like, you know, like Tesla or Tesla, what were they doing? They were accepting Bitcoin. Are they accepting Bitcoin today? No. Right. Like, so the, those guys that went all in on their companies and were doing everything, NFT, everything crypto, et cetera.

How are they looking now? And Bitcoin, you know, went from 60,000 down to 20 year in record time. And, you know, you know, a little bit wobbly at 20 grand, frankly. And do I believe that it will go up? Yes, I, I do. I, I don’t, I believe that Bitcoin is not going to zero. But that being said, I, and I don’t know, Warren buffet don’t know, you know, the smartest guy in your Facebook feed that pretends, like he knows driving us McLaren.

He don’t know either. But anyway, so, but, but crypto don’t don’t think of Bitcoin it’s it’s it’s it. Bitcoin. If you wanna know, if you wanna see Bitcoin go somewhere, it needs utility. It’s gotta have some utility behind it. Presently. It’s got exactly zero. I know that you couldn’t go buy a chocolate bar with Bitcoin right now.

That’s not. A good thing. Anyway, so I don’t know, RDO, those are just different. I, I think that business coaches should be understanding the high level concepts and where it’s going, because you gotta be able to direct your client in a macro way. Do you do this today, tomorrow, next week and all, is this monopolize your conversations with your chiropractor?

Absolutely not. But being able to explain these types of things, by the way, will absolutely get you an insane amount of coaching clients because they’re gonna be like, wow, this guy, this gal is really on point. They really get this stuff. When you can explain something complicated in a, in a, you know, very matter of fact, ABC 1, 2, 3 way you know, especially a high level concept, which let’s assume that crypto is a high level concept.

Just watch what happens to your conversions? They will go up. So I would incre and by the way, it’s very important too, right. To, to understand that this is where things are going. I think it’s important. So there you go, road that’s that’s all I got to say about that, but industries that I see, you know, kind of non obvious ones disappearing went off to rabbit.

I was 

[00:40:32] Christian: wondering what, what were you even talking about? And here we are. You realize bud, when you’re at a security line in the airport, you like, when they say step forward, like you don’t have to drop your pants. Right? Like you just walk through, like, I don’t know when you’re talking strip search at the airport.

I dunno what airport you’re at, but that’s 

[00:40:51] Karl: not how they do it, bud. Wasn’t I, I didn’t need to do wasn’t. I don’t need to go through the thing in my under. Is that one? No. Well, I’m, I’m 

[00:40:58] Christian: thankful you at least had that on, but Hey by the way trends, trends.google.com. You’re welcome. Just check that out.

It’s if anyone’s be like, who’s better than, than, you know, seeing what people are what’s trending and I don’t know. Google might be a good starting point. Your, your thing on the old wisdom thing, it always reminds me of, I don’t even know it was a buffet that said it, but it’s. You know, would you rather listen to Warren buffet or would you rather listen to an analyst?

Like I don’t see too many analysts out there that are I don’t know, rich, whereas like lot, I, you know what I mean? Like, it’s just,

there you go. So you wanna close us out with one thing on point that someone could take from the podcast today and implement into their business. 

[00:41:48] Karl: On point shoots. I, I think just the 30,000 foot vantage point. And maybe when I said at the end there, like, you know, again, practice, I, I really, I a challenge to business coaches.

This is a chat homes, 1 0 1 thing you know, to chat homes, he was in business with Tony Robbins. Very smart guy passed away long before his time. Loved the guy for love his material, didn’t know him at all, but loved his material. And he talked about as part of a pre if he were to put together a presentation, let’s assume it’s a one hour presentation.

He would take a percentage of that time. And let’s call that 10 minutes was said, I don’t know that he said that, but like a percentage. So 10, you know, 10 minutes would be 10% of the actually that wouldn’t be quite. Whatever, take 10 to 20% of your presentation. And this is a one to one sales meeting he’s talking about and talk about high level industry concepts trends.

And again, I’m, I’m throw, this is not his exact words by any stretch, but, but that’s, you know, what he’s talking about is, is talk about, so in other words, if okay, example chat home said spend 10 to 20% of your time talking about high level. Industry concepts. So if you were to agree with that, an example, I think would be explaining crypto would be explaining the, that crypto is not crypto, but crypto is really, you know, think blockchain, which is the found, you know, the platform.

The whole thing is built off of So anyways, you know, finding high level concepts and maybe what we talked about with trends, and there’s a zillion others that you could, you know, depend upon what industry. But talk about come up with clever things that you’re gonna talk about that are high level industry concepts.

Again, crypto artificial intelligence. Blockchain, et cetera, and come up with a clever way of talking about them in, in a strategic, not in a out of left field and like blow the guy away. Right. And again, don’t spend a huge amount of time there cuz you got more important things to talk about and to get granular, but on a macro level, come up with clever ways of explaining these things.

And I think you’re gonna find. In your presentations in your one to ones in your meeting with the accountant, trying to get a joint venture in your meeting with the, you know, the referral that you’re trying to close. And, you know, if you could close somebody in 30 minutes instead of an hour and a half, how would that affect your life?

Remember, you know, again, that’s, you know, it’s not what you say, it’s what they hear that’s important, right? And the manner in which you say something really, really matters you know, your tonality, your speed. 7% of communication is the words right? 93% is the other stuff. So, you know, thinking like, you know, thinking about that strategically bottom line come up with some high level concepts and practice telling stories around it and explaining these things in a real easy 1, 2, 3, ABC, granular kind of way that they can follow and see what happens and see how it feels.

And I, I think you might be rewarded. Well, So that’s my one thing shoots. I’ll give you my one 

[00:44:51] Christian: thing. I just looked at what, the number one in Canada, the number thing that was Googled under what, when you start with, what, what is squid game? That was the number one in 2021 in Canada. So there you are shoot that, that’s it of all the things you could have Googled.

What is squid game anyways? Thanks for tuning into another episode of business coaching secrets with none other than the men, the. The Mrs. Doubtfire himself king Karl. And if you’re not on the inside, getting asked to the pre-show or you aren’t getting Karl’s daily emails, or you want more information on the group coaching software, the profit acceleration software or whatever softwares Karl’s got in the works.

Maybe there’s more, maybe there’s not, you’ll have to go to focus.com to find out and subscribe today. And if you enjoyed the podcast, obviously, please share it. And of course, as always, we’d appreciate if you’d rate the episode, as we know that all the streaming service give a big, big weight towards that.

And you know what we’re trying to get to number one. So let’s go ahead and make that happen. And that is it for another week. We’ll see you in the next episode. And as always folks remember progress equals happiness, take care every. 

[00:45:57] 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

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