Consulting Accelerator livestream Q&A call recording from December 15th, 2018.
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Alright, can see we've got a couple of people jumping on him. I can see that Jennifer Lee is on our eco. If you guys can just let me know if audio and video is working. If you can hear me speaking, let me know so I can confirm if we get started. Thinks I'm moms can see we've got Michael Hanes. Welcome. Well listen. Well first of all, how these calls go is we do one of them pretty much every single day, probably about, you know, one in one in about one in 10. I missed because I'm traveling or is it vacation or something but pretty much every single Saturday and they go from 3:00 PM to 5:00 PM eastern time which is the time in New York and you can put it in your Google calendar so that you can redeem it. And basically what we do is we just do q and a. So if you've got a question, just write what type, what your question is in their comments box and then I'll go through them one by one sequentially in the order they asked. So Jennifer Lee says, tactical question on your demo website, the value video optin form only asks for someone's email address, no first name for consulting.com. Your webinar or didn't form asks for first name plus email address. Which approach has worked best based view and why he is things for posting the fabulous meditation view. Sure. So as a general rule, the list fields you asked for, the higher the conversion rate, right? That's pretty much how it works. And so for why I designed the vsl funnel to just ask for email is because they don't have the highest conversion rate. But the Webinar funnel, which I'm using that you need a first name specified for a webinar because they going to attain that we've been at and you know, if they chat in that chat piece to the, to the right hand side, then they need a name, right? And so we need the name to be defined in. So that's why. So that's why it's the way it is. For vsl, you're fine with just email a for a lot of things you'll find with just email. But for Webinar, you need the first name as well. Alright, I'm in. Ramos is. I was a smoking edit and stop successfully a long time ago, so I thought I can help people that want to stop smoking but are not able to do it on the own. I started a free consultant program, one on one with 14 smokers that want to stop and I tried to help them quit, but I found out that my strategy does not work for them and that I actually am not able to help them quit smoking even though I thought that it would work because I stopped successfully with the methods. I teach them my equation. I feel like this is the wrong niche and I'm not able to add value to this market. Furthermore, the smokers I talked to say they would never pay a thousand dollars or more for a program that teaches them how to quit smoking. They see all the other people that were able to quit on their own without any help and think a thousand dollar program is not necessarily to quit smoking and just a waste of money. Should I look for an unit? This is a good question. So first of all, if you really, if this means a lot to you that you care a lot about helping people stop smoking and you're really fascinated by it and interested in it. You know, if this is the thing that you want to do, then you do not give up because you know this is just your first attempt like and you're trying to help someone do something pretty difficult. Like I mentioned me, if I started my own business, which I did, and then I go to try and start teaching other people how to start their businesses. I could easily work with 14 people, teach them how to start their own business and then they wouldn't be able to start their own business. That could happen. That doesn't mean that I should change niche. They're just means that I haven't figured it out yet. Like sure, I know the methods, right? Because obviously the methods work because I applied them and I succeeded with it. So therefore if the person applies the methods, they should succeed too. But these, all of these nuances to it, you know, there's mindset, there's community and having like community and accountability without mindset it wouldn't work. So you know, you, you have to keep trying and you have to keep practicing and with time you get bitter, bitter, bitter, bitter. So I would stick with the niche if you really liked it and just keep edit, keep trying, don't give up until you figure it out. And vol says, I have a question about your speaking skills. I notice you always speak very fluently and you don't. Oh Man, I missed your question. Sorry about that. Sometimes I miss people's questions because these, these questions fly past. Just ask it again. Um, all is. What is the biggest trait that determines if someone will be successful in life? I mean, honestly the, at the core of everything is just, it's just like hunger and drive and desire. So, you know, what I noticed a lot with people who are successful is they might be really good. Like someone thinks that they really good at something, right? And then if you talk to that person, they don't even really think they're good because in in a winner's mind, there's always, they can always be better. You know, it doesn't matter how good they are. They all there, they're actually quite upset that they're not way better because in their mind they're nowhere near good enough. And so that's really the trait. It's really high standards, really huge expectations and huge pressure that the person can put on themselves. You know, they never, even when they're the best in the world, they still don't think they're good enough. That's really what I've found it to be. Peter Wickstrom says, I have an existing youtube channel in my niche with a thousand subscribers in tutorials or 30 k views. How would you use this to generate leads and sales? Honestly, it's so small that I wouldn't really worry about it. I would focus on just identifying your niche and trying to use direct outreach and you know, adding people on facebook and linkedin messaging them. Try the methods in the course or youtube channel with a thousand subscribers. You can put a call to action and a couple of your videos, but it's not going to really move the needle that much. Alright? Now what I can see happening here is, you know, there's a lot of people asking questions and so if you an order in this, things just flying past so fast that, you know, in order for me to actually do this, we need to have some kind of rules. So first of all, if you ask a question that's too long, like if you ask a question that's really more than one paragraph, right? I'm not going to answer it because it just, it's too hard. It just flies past to quick. So make your questions concise and I'm also not going to answer people who are multiple questions in one post. And if people spam it, I will not answer those questions at all either. Um, so I'm almost, you're done no more questions from you. And then if anyone asks, if anyone posts big essays in here, then I'm not going to answer them because it just gets unruly. It just starts flying past so fast that I can barely keep up and it doesn't make me scroll up, which is pretty hard. All right. So Joe would say is, how do you know so much about primitive living in the early humans? Can you recommend any books on the topic? Um, I honestly haven't. I haven't read any books on the topic. You just think back to what would life have been like for first humans? You know, it's pretty, it's just a thinking exercise. You don't need to research it. Like obviously there was no technology obviously in the earliest of times we didn't even have fire, no. Mentioned discovering fire for the first time. That would've been a revolution and imagined discovering clothes in communication, right? You can just think back because the world constantly advances and you just think what it would have been like at day one and think about how the psychology of humans has evolved. It's, it's more a thinking exercise than me actually watching documentaries and things. So grace is that she enjoyed, uh, the meditation video. I have a question on it. I'm in the zone and has been noticed worldwide when I'm publicly speaking. However, online courses and webinars are not face to face. Do you think my expertise and natural energy engenia zone can transfer to Webinar, which is not face to face speaking facilitation will be successful too. I am so afraid my zone won't be on a Webinar as opposed to a workshop on public speaking. Yeah. Like, well, it's a good answer to this. Yeah. So a lot of people can get into the zone when they're doing a pub when the public speaking, right? Because there's pressure there. You've got a lot of people who are focused on you and you've prepared for it and now you're on the stage and there's a lot of pressure and so it's going to go into the zone. Um, and so then if you're not on a stage and you're not able to get into the zone, it doesn't mean that you should just always try to be on stage. It means that you need to practice doing things other than public speaking because if you really want to make a difference, you've got to do more than just public speaking. You've got to be able to get into the zone with whatever you do, whether it's your accounting, your making a Webinar, making a course, writing a book, like rising emails, like it sounds to me like you're clinging to ones. Then to close that you need to practice doing, you know, all the different things you need to do and get into the zone with all of them. Jessica sees, why don't you organize a mastermind live ones a month for the members of consulting accelerator. I'm new in this group since a month now and I believe that most of our problems is with the mindset. Would you have a think about that? Yeah. Well there's like 20,000 customers in accelerator, right? And they're all over the world and so if we were to do a like a once a month mastermind, it wouldn't really work. And so no, we at some stage when we, we will be doing more kind of live events but not at the moment. We're trying to get all of our online things mastered first, like we've got consulting accelerator that's online and then we've got uplevel consulting and that's online with the q and a calls and then we've got quantum mastermind and quantum mastermind is online and offline. So we have three live events each year for three days each and then we have the online stuff and the q and a calls and we're trying to still balance these three things. And once we get these balanced then will probably consider doing some more beans. But we'll see how that goes. Ryan Ryan misses. What does your work portion consists of on an average day? What kind of work are you actually spending time doing? Sure. So I would say I spend my time doing a few things. There's is basically building and maintaining in fixing like the systems that we have. So you know, my business is made up of a whole bunch of different systems. You know, we've got like advertising and that's kind of like a system and that gets that convert strangers into our funnels and sequences and in our funnels and sequences. That's like a system. And then there's the billing system like the piece that bills and does all of that and signs people up. Then is the online course system and then there's the content within there that runs in the system. Then there's the q and a call system. Then is the, um, then is the facebook group which has a system running in the two. And then there's the support systems. So if you email customer support and how that all runs, it's a whole bunch of systems. And then there's up level that's another course. And then these ads for that. And then these funnels and processes for that. And then there's a sales reps, like we've got a sales team and they're on calls and then there's more systems in there. And then we have like, you know, financial systems that manage like their ad account for all of the, all of the money and all of the sales and report on that. And then we have like there's a, there's a lot of different systems, right? And so I'm a lot of my time I would say I spend about 30 percent of it doing, working on systems, either building one, making one bidder, fixing an issue in one or just maintaining one. The second thing I would spend my time doing would be like working on product. So that would be a like building consulting accelerator, building up level consulting, preparing for light, one of the mastermind to beans, you know, creating content or creating a blog video post or something like that. And that would be the second block of 30 percent. And in the third block would be hiring a hiring people. So 30 slash 30 slash 30, like looking for really talented people, interviewing them like and then did a bit of managing them to and then systems and then product. So systems, product, talent systems, product talent. There's pretty much where all my time goes. Ryan Ramus these. What's your Meyers Briggs type? It's Ian, Tj, I in Tj. And then he sees how much money do you want to make? I don't know, like it's, I don't really have a target, uh, so I don't even know honestly, but I think if you're doing something pretty big you're going to be making in the billions anyway. So you know, it would just be a byproduct of what I want to do. Elena is, is, is it necessary to go through the market testing and organic prospect in if I am 100 percent sure about the neat existence, pain point solution they are looking for, because I've done this for my last work for three years, I would still worry me in going through it. Honestly. It's a small amount of time and if you, if you don't do it properly and you miss something there, it'll be catastrophic. So it's worth doing. It doesn't take much time and even if you're good, you're good. Which it's still worth doing, I would say is I use kill newsfeed for facebook and the one for youtube. Do you use something for Linkedin? I'm using a custom code to disable that stuff. I don't use linkedin at all, so I don't ever log in so I don't have any issues with it. And then peer tosses, um, concerning direct outreach, I take the info from my prospects, go back to refine my offer and solution and then reach back out over email that I may have a solution to help if they are interested to talk about it, what do I have to do exactly inside to them to sell my offer? GC told me don't use sell script slash pitch on those calls. Yeah. So I get what you're saying here. Honestly, you just, what you want to do is you just want to go. You just want to keep going to new prospects. You can go back to the old prospects and say that you've refined your offer, but if they're still not that interested, just move on to new prospects. That's what you need to do. Don't get hung up on old prospects. Keep moving forward. You know, there's plenty of fish in the sea. What do you think about hiding the button on youtube that shows how many subscribers you have? Just say subscribe with. No number. I don't know, it's kind of trivial and irrelevant, so I don't think it matters. I don't really care how many subscribers I have to be honest. Diahann Caroll, Ravi surface did that wrong. I'm on week one. Picking a niche. I wanted to help single mean to get the woman. I wonder if it's better to do done for you, speak in the place online and get them three dates or we're done with you with a coaching by phone and advices on how they look. Yeah, I, I think you should just start with like one on one coaching, one on one. You can get on the phone or on skype and coach them that way. Is that Zoran and says can we use the recurring revenue method for any and every niche? If not what type of consulting, which is a good for recurring revenue. It just depends on the situation. If you are doing like recurring monthly work, so if you're managing someone's ads, oil, you're doing any sort of job that isn't a one off. Then the recurring revenue model works well. Brian says, why don't you juice fruits and veggies and supercharge your nutrient intake? This is way different than drinking shakes. So I eat a lot of vegetables in my meals, but I try not to have any because my sugar, it's, it's too much sugar in fruit for me. So I avoid it completely. It depends like, you know, you do a blood panel tests so I get like a proper, like blood panel with like eight vials of blood and they scan for everything and we get blood sugar levels and in all of that. And then we try to optimize the Diet based on the blood panel. Um, I'd highly recommend you do it. You want to see what your, like, first of all you want to see that you're healthy and then second of all you want to see your hormone levels, blood sugar levels, cardiovascular, um, and then you want to say, I think a lot of people are lacking vitamin D and that's, that's a big one. I was definitely lacking vitamin D before. Also, if you don't sleep properly or like testosterone is going to be out of whack. And I bet most people, if they checked their blood panel said that they would, they would get a wake up call, but one of the things I. my blood sugar is quite high naturally and so I shouldn't be eating fruit. That's why I don't do that. College cs. I'm running facebook ads for two plastic surgeon using the same copy to the same audiences with high quality images. I followed all the steps and they always have five k plus likes. One of them is getting lots of bookings in Ad's relevance score, nine slash 10 for the other client is not even serving any traffic, no reach and impressions and no amount speed. They both have quite high quality images with. You already spoke with facebook and they just advise me to delete the campaign and start over. I did it, but it's still the same. How can I fix it and try a different ad account? It seems like something's getting stuck there. Try a different ad account and tried publishing it again. Ryan sees. Have you ever taken an Iq test? What was your score? Yeah and no. I have never taken an Iq test purely because I think it's kind of stupid, like if I get a test result and it says that I'm not smart, then I'll be like, then I, then I'll be like, oh, that sucks. Then if I get a test result and it sees that I am smart, then I might get some false confidence. So it's kind of stupid. I don't want to, I don't want to feel bad or good about a metric that has no importance. The only thing I care about is results in Iq tests aren't results. And do you still have your consulting.com office in New York? Yes we do, but we will be winding it down by the end of year. So then we'll just, we'll be opening up another office over here in La. Don't know. Dang sees that he's having problems with his facebook ads and they're working for the first four days. Uh, and then they stop. And then with only duplicates working. Yes. So you want to try, try not creating any duplicate because the duplicates, if you keep duplicating things that might. It might hurt the, the originals, right? So don't do, try not dripping them and see if the originals will last longer than four days. Harry says, how do you prepare your smoothies high? Literally just chuck some stuff in a blender and turn on the and drink. Thomas says, can you recommend books related to the scientific method? The scientific method is so simple. You can just google it, read it, and now you've learned it. Now it's good. It's just sitting a hypothesis and then designing an experiment, doing the experiment and then seeing what happened and then iterating and forming a new hypothesis. Doing it again. That's all it is. It's that simple. Francis is. Can you tell me where you are with your binary poles and if being seated all the time leads to your best results? Um, yeah. So being seated doesn't lead to the best results. It's like it's just the reason why we do the binary Poles worksheet is just that we, we want. Most people are not aware that the other side can actually be right, you know, so what a lot of people do is they, they will hold one belief and that will generally be on one side of the spectrum and they will think that everyone on the other side is wrong and stupid and that everyone on this side is right and that's a problem because that's not how it is. So it's, it's mostly just becoming aware that there's more than one right answer and you can do things lots of different ways and it makes you more flexible and open minded, but you still need to have strong opinions and biases and staff to get things done and so you know, you, it's not that you want to be centered on the middle for everything all the time. You just want to be aware of the other side not being false and then finding like a comfortable place in between those two extremes that's most optimal for the goal that you're trying to achieve. Judy is who were your mentors? I've honestly had lots of them. A lot of them don't even know who I am or that day were my mentor. So, you know, I learned from lots of people I learned from books. I learned from studying other people and studying how they run their companies. Like I, you know, I'd studied Jeff Bezos for a long time. I've, I've studied lots of like different entrepreneurs and borrowed things from them and kind of they've kind of mentored me without mentoring me. Well, they did mean to me, but they weren't aware and they weren't actually mentoring me in their mind. That's where I've got most of my mentorship from. Francis sees. What are your goals for 2019 and are you planning on expanding your product line or improving what you currently have? A good question. So Ivan state my goals for 2019 yet purely because 2018 isn't finished. So you know, I'm still focused on 2018. And then what I typically do is I work hard until the end of the Ed and we tally everything up, figure out how everything ended, doing all the reporting and all of that. And then what I'll do is I'll generally take some time, like a week to reflect on that and think about what our goals are going to be for 2019 and I would say that we're not going to add more products in 2019 like accelerator. We've got accelerated this year. We did not believable and we've got quantum and so we're trying to. We're trying to like Polish these three things, refine and hone these three things and get them eat a balanced. And then, uh, so there'll be a lot of work on operations and systems and things like that. And then we might look at some other stuff. Yeah, I mean I've thought of doing some other things, but it's hard to say yet because I haven't actually sat down and written down exactly what we're going to do. But I'd say the focus is still going to be accelerator, uplevel and quantum and just doing those things really well and just doing more of them more consistently with more precision. Khalid says in Facebook, why do you optimize for value optins instead of survey applications? So good question. So what you with facebook, it has a conversion event, right, and it's optimizing for the algorithm is optimizing for that event and then what happens is this is a perfect number of times that that conversion event happens to feed the algorithm intelligence to better optimize and if you feed it, if you don't feed it enough conversions, it doesn't have enough feedback to optimize. Right? For example, if I was, you know, if you were learning how to start a business and trying things and the feedback cycle where you spoke, the only human in the world you spoke to and got feedback from was me and we had a phone call once a year. That means that you're only getting feedback once a year. Now you're going to be able to optimize very slowly. It's going to be very painful and slower because you can only gather data once a year and then iterate, improve, gather data, improve. And it's one year cycles, right? That's very slow. So the algorithm, when a conversion event happens, it passes feedback to the algorithm and the algorithm optimizes. So if we have, why say value video optins is because the value video option is going to cost in between like five and $10. Now our ad sets are probably only going to be $10 and probably 10, 20, $30 somewhere around there. Right now, the ideal number of times that that conversion event should fire on an ad set is in between five and 15 times per day. So if we have an ad set with a budget of $10 and a value video often costs us $5, that means that we're only going to get to peace to conversions on that ad set each day. And that's only two things that are feeding back to the algorithm to optimize now too is okay, but it's not even, it's far from perfect. In an ideal world, you'd have five to 15, which means that you know you're going to you, you take five times five, you get 25. So you know, $25 per ad set, you might get five conversions a day and so then that's going to get more feedback and it's going to optimize faster. However, now let's take your question and look at the, your, what you wanted to do, like optimizing it for a strategy sessions booked. So if you, if it costs you $5 to get a value video, Ogden, then let's assume that you're going to get, um, it's assuming that it's going to take, you're going to get you. Let's assume your value video converts how much percent. Let's say it converts at five percent, right? So if it costs you $5 per value video often, and your video converts five percent, it's going to cost you $100 per strategy session or per booking. Now at $100 per booking and your ad sets at $10 daily budget. And they think about what's going to happen. It's going to take 10 days before you get a piece of feedback. And by that amount of time facebook's given up. You know, if you don't feed it a conversion for 10 days, it's going to die. And so that's why, because I balanced all of the variables for the Algorithm, I want a conversion that's meaningful and I want one that's going to fire enough times a day to pass feedback that and still work within the parameters that most of you will have for budget in ad spend and things like that. There's one Donald Brown says, how did you become such a self directed learner? Was it just a decision? Honestly, it's just because I found that if you really want to learn, there's no other way. Like I would prefer to just have somebody come and teach me everything. But you can do that in the beginning. You know, in the beginning it's pretty cool because you can, you can join courses and go to a beans and and do all sorts of things and make friends and learn a lot. But then you get to a point where it's like you kind of stop. You kind of climb above a level where all of those things are. And so you can't really learn from those things match anymore. And if you want to get better, you've got to go out and hand it on your own and is there, it's not to say there aren't people out there who, who were white bidder, they are, but like that doesn't mean that they're teaching people. So you've got to learn how to find those people and then like find out what they know and then it learned that yourself and improve with because they're not available for coaching. And so it's, I would say that how do I become a self directed learner? Like you have to, if you want to get really good at anything, you've got to be self directed, like no one's gonna spoon food, a spoon feed you to like to the highest levels, know you've got to learn how to go out and get it on your own. Felipe's is how did you develop your universal avatar in consulting, which attracts multiple clients from multiple backgrounds in industries? Yeah. So there's a very hard question to answer on one of these calls. You know, that's when it gets. That's when it gets pretty complicated. But you, it takes time first of all. So I started off with specific advertise in specific messages going in light directly to a specific niche, right? But then as you get better and better and better, you can start to like widen the niche and widen and widen and widen and widen it and you can start wide because you'll get your ass kicked. Because if you go out and you try to be. I'll give you a perfect example. Let's say you want to be a motivational speaker, right? If you just go right out of the gates as like this, this person who's just started doing motivational speaking and you try to just, just do motivational speaking of beans for the masses. Like you'll get your ass kicked by someone like Tony Robbins because he's way better at it than you. So what you have to do is you have to pick a fight somewhere where you can win. And that generally is some small segment that the big guy isn't going to really notice or focus on or really care about. And so you start on that small little segment and then you know, if you say that your doing motivational speaking for, um, for motivational speaking for like, I don't, I got to come up with an example here, motivational speaking for entrepreneurs in like in Sydney or something, right? Like in a specific location for entrepreneurs. So now you're doing entrepreneurs speaking and in Sydney and it, you know, and then you can make your prices lower and then you can actually meet with the people and stuff. Now you've got now in that one little pocket, you've got a big advantage over someone like Tony Robbins and you can start to like make your mark in that niche and then you can kind of own that niche. And then once you've got that, then you widen it up. Why didn't it up, why didn't it up? And over time you can, you can go to the Tony Robbins, they've all. And then you can even beat him, but you can't start that. And so how did consulting.com, he ended up going to so many different countries and so many different people and niches and backgrounds, time, time is how it happened. And uh, and by starting small and just getting bigger with time, NASA is. Do you help with creation of funnels to bring in customers? Um, yeah, like that's in the course I give you templates and training and everything on how to do that. Zephyr, Zephyr, CS, I've a question recently I narrowed down my niche to business owners and me helping them with their marketing. However, I have a very strong gut feeling that what I was meant to do was to help people in life who had fear or blockages or lack of certain trades to achieve more in life and achieve success. In fact, it is because of this notion, life coaching, success, coaching, inspiration, motivation that I achieved the following things in life in Milan. My first, uh, fully self produced song. I got the girl of my dreams as someone brand new musical was the top student in my ear. Yeah. So you didn't ask a question. There's no question here. You just told me about just stuff, so I don't know how to respond. Uh, Nick says, when you say you retired, your parents, what did slash does that entail? How would you recommend someone else going about doing that? If they wanted to? So it's not about really whether you want to, it's whether your parents didn't want to. So, you know, I just talked to my parents and I was like, dude, do guys want to. Well actually what happened is, you know, my parents were from New Zealand and I've got two sisters and uh, one of my sisters had moved to London and then the other one of my sisters had moved to London and I was in New York. And so my parents were back in New Zealand. None of our family was there and they were both just living in their house by themselves. And then they were both just working. And then I looked at all the numbers and they were basically just working to pay the bills for themselves so that they could just keep working. And I was like, yeah, this doesn't look that. This doesn't look that great. You know, like you're working to live so that you can work and it's, it's like, well, you could just stop working. I was like, if you wanted to do that, you could do that. And then I just lift it with them because it's their decision. It's not mine. And it's like a, it's like planting a little seed, you know, I planted the seed in their mind and then I was just like, well, just leave it and see what happens. If they come back to me and they're like, we want to do it, then we'll do it. If they don't ever come back to me, then we want to do it because they don't want to do it in like six months later they were like, yeah, we both want to do it with enough. So then we did it. And in what does it entail? Well, I just basically cover their monthly expenses which aren't that much so that they don't have to work. Joshua Westover uh, would you mind explaining the difference between focusing on cash flow rather than profit in their business? And why is cashflow the thing you should focus on? Sure, well what's a good way to explain this? Let's see if I've got a monica. Here we go. I can actually draw this on this board that I can see is right behind me. So the thing that most people don't understand about about its accounting, right? And so what you want to do is you want to read the book. It's the simplest way to understand accounting. If you're an entrepreneur, you need to know accounting. If you don't understand accounting and you're an entrepreneur, then you're not going to be a very good entrepreneur. So you want to read this book called accounting in 100 pages or less, and it's 99 pages. I'm pretty sure just google it or search it on Amazon, find it, buy it and read it. It's real simple, but you've got basically you have, so you've got revenue and you've got cash, you've got accounts receivable, and so I'll make this simple. They'd say, if you've got to move this closer, most people don't understand this one. So let's say you have a course, an online course, and it's a $2,000, but you offer people like a payment plan, right? So they can pay $2,000 upfront or they can pay it over like four months for example. So if you were to sell one that was 2000 and a full pay, then you would get 2000 revenue and then you'd get $2,000 cash in your accounts receivable would be zero. This is cash flow, the cash, it's the cash flow, right? So that's one example if you sell it in like a full pay here. But then another example out here could be if you sold it with a payment plan, the revenue still the same. So you know, if I sold a course for two grand and the person just did it over four monthly payments of four of 500 in revenue, still $2,000, but then cash would be 500 and then accounts receivable would be 1,500, right? So those are the two different scenarios. And like what a lot of companies do is they sell a lot of revenue. So you know, they sell a lot of things that are going to be paid monthly over a period of time and their revenue was high but the cash collected as low and their accounts receivable is high and so when you are focusing on cash, you're trying to focus on getting this number here is high as possible and so the, the, the closer to two thousands, the bidder that's focusing on cash flow. But this is only the inflow of cash is also the outflows of cash. And with outflows, you want to make sure that you like the ultimate is when you get your, you, it's like the inverse of this, right? So we want to collect all of our payments like this, but if we're paying things then we want to kind of pay them all like this. And so we want to, for example, we would want the worst thing for cash flow would be buying a whole bunch of inventory. So like let's say you have a retail store and you have to buy all of this inventory, you have to pay all of that cash for that inventory. And now it's sitting there and it might sit there for a long time before you sell it and get the cash. And so that that's, that's not good cashflow. However, if you're someone like Amazon, they have ridiculous cash flow. The reason why Amazon's growing so big is because of the cashflow. And so what Amazon does is they've basically got agreements with their suppliers that they don't have to pay for the stuff they sell to you until like 30 days after they've sold it to you and collected the cash. So Amazon gets to sell everything in the world basically to everyone and they don't have to hold any inventory and I don't even have to pay for that inventory until 30 days after they've sold it and collected the cash. So the way Amazon's engineered is that they've got huge cash flows. But the way like a traditional retail store is engineered is they've got horrific cashflows. And when you've got good cash flows you can do, you can do lots of stuff because you can pay for things. But when you don't have good cash flows, you're very restricted. You can't even really breathe. But you can't pay for ads, you can't pay for staff or people you can't pay for really anything if you don't have really good cash flow. So when I say that we focus on cashflows like we really do. So let's say in a year like let's say we make $30,000,000 in a year, right? Like 27 million of those 30 will be collected in cash. That's how optimized delcath closer. And so you know a typical company in my industry, if they had 30 million in revenue, they would only have $12 million in cash, but we're 27 and so you could say we're making the same amount of revenue, which is true. We are that in cashflow, we will depart. And so that's what focusing on cash flow is. And honestly your revenue can be lower than another company's revenue, but if your cash flow is better than their cashflow, you're when cash flow is more important than revenue. Cash flow is more important than profit. Cash flow is the number one thing, but people don't. Most people don't really know how it works. That's how it works. Francis is 10 years consulting accelerated program to sell products on Amazon ecommerce or is it just mainly service based businesses? No, you could. You could do it, but you would just go through the process and make sure you follow the process because you want to be solving a problem for a specific niche and if you, if a physical product is the thing that solves their problem for a specific niche, then it's fine. It's a solution. What I basically show you how to do is find a niche, find a problem that exists in that niche and then have a solution to solve it. That can be done with anything. Luke says that's natural sugar in fruits. I think that it's different. You're right, it is natural sugar. It's not like sugar in like a ice cream or candy bars or things like that, but it's still sugar naturally occurring. Sugars are still sugars and so if I want to, if I don't want to have a high blood sugar level, I have to eat. Any sugar is going to affect their. It doesn't matter if it's naturally occurring or if it's. If it's artificial, it's still sugar, and so if we're looking at it, I'm like, Dad, it's the same. I mean if you were to have two types of sugar, yeah, it's way better to have natural than artificial, but it's still going to affect your blood sugar level. Alice, this is what triggered you to decide to hire writers live in personal trainer? Sure. Well, basically I would, I would look at. I'd watched lots of documentaries about famous athletes, so like Michael Jordan, Kobe Bryant, I would also watch. What other ones did I watch? I watched Hussein bolt. I'm his documentary and what I realized is a lot of these pro athletes, they pretty much like, they pretty much like normal humans a lot of the time and what that means is, you know, they've set huge goals for themselves. Like they want to be the best in the world at something or the best of all time. It's something which is a huge goal, but it's natural for a human to sometimes wake up in the morning and not want to get out of bed and go and train, you know, they just want to be lazy and was real. It was real eye opening for me to watch you saying bolt, doing that. He didn't want to train. He didn't want to get out of bed. He didn't want to stay on his diet. And I was like, whoa. That these people are the same about what kit these athletes keeping on getting out of bed and keeping on training and sticking to the plan was the people they had around them. So you know, they had very close, tight knit like groups, like a chef and a trainer and a coach and like a close friend or something that would help them and you know, they used those other people as a way to help keep them on the rails and training properly. And if they were left to their own devices they probably wouldn't do it. And so when I made that realization, I was like, Oh shit. Well, I, I just need to find, I need to move some people into my house that are going to help me with this because it will, and it did, it helped a lot. It helped me get, go to bed on time or consistently wake up on time or consistently exercise more consistently, have a bit of diet, everything. Um, it really made a huge difference. It's quite hard to do everything yourself consistently all the time and stay disciplined it, it's quite difficult. You can do it, but, uh, if you want to go to that extreme level, it's good to have some help from others as well. Ashley says, if a client on a sales call can't afford your services, I'm selling a service for four to five k a month, including Ed's been. Do you recommend we offered them a down sell, such as a service with one k a month? Or just forget about it and move on to the next prospect. I would say just move on to the next prospect like heavier price that that is the price and then just move on. All right. For example, with consulting accelerator, you know, it's got its price and people emailing all the time like, oh, I'm a student, do you ever discount you have all of this different stuff, and like sure we could get one of those people to buy, right if we maybe gave it to them for like cheaper here, cheaper there, but it, it's just going to ruin everything because then we've got no consistent pricing. Then we're going to have this real murky gray kind of rule in our business about how much we discounted to who and when and it's going to ruin everything and then people aren't gonna think that we have consistent prices and that we basically just make our prices up, which is kind of true if we did that. And so instead I want people to know that that is the prize. That is what everyone pays. The only differences when someone refers you like a refer a friend, right? That you get a, someone can get it cheaper, but there's no other, there's no other ifs, buts, maybes or anythings. That's just the way it is and it just gives you, when you define a role like that, that simple and fixed in, it's easier for you to just stick to it and be consistent. Julian says sometimes things take longer than expected and take and drain my motivation. How do you deal with setbacks and when things take longer than expected, how can I become better at thinking and planning realistically so it doesn't even happen in the first place? It's a good question and what I can tell you is that you know, human beings are pretty much always going to underestimate how much it's how much time and effort it's going to take to complete any task or any goal. We humans are naturally optimistic and that's actually a good thing because if you're pessimistic, you would probably just want to die and then it wouldn't be very good and so first of all, you've just got to know that that's how it is and so I wouldn't really get it's. I would rather sit an ambitious goal and fall short of it and not on time. Then to set a small goal and achieve it, because if I don't achieve the big goal, I'm still further ahead than what I would be if I achieve the small goal. So you've got to look at it like that. And also the pain you get from not achieving your goal is a good thing. That pain that comes, it's good because you know if you have, you know when you have pain it, it teaches you a lesson. So for example, if you fall over when you're a kid and you graze your knee, you learn, you're like, you're crying, it hurts and you got blood coming out of your league. It's you learn your list and you're like, I'm going to be a bit more careful next time. Then if you're not careful, you graze it again. And then teachers, you're listening again and so you learn to be more careful. Right? And that's what goal setting is. You know, you say it's a goal, you set a timeframe and you achieve it or you don't. If you don't, you feel that pain. It's Kinda like a graze knee and so you adapt. You, you might get more realistic with your timeframes for next time or you might get more realistic with how you allocate your time and how hard you work and how much effort it takes to actually achieve these things. What will happen with time if you keep going through these iterative cycles and loops is you'll get more and more accurate, but the only way to get there is to keep going and keep trying. Don't worry about the feeling. Just keep going. Raphael sees I've chosen my niche or message. I help music school owners get more students through facebook and Instagram ads and funnels my music school and myself. Because of that, I know the business from the inside, but I'm still afraid and with many doubts. Do you think it's a valuable niche and offer these at school owners. Get more students through facebook and instagram ads and then I was in the music school and south and because it sounds like a good niche, but you, uh, but I'm still afraid and with me doubts. Yeah, welcome to entrepreneurship. There's this is what it's like, but it's. It's worth it. If you've got fears and doubts probably means you're doing something good. If you don't have fears and doubts probably means you're either delusional, stupid or not doing anything with your life, and so don't worry about that. Sam. Hobbies is when someone chooses, don't have any financial resources all to invest in my business on the survey, do you still go ahead and book a strategy session with them or are they immediately disqualified? That's a good question, and if I was you, I would try taking a call with them because you want to say you want to learn for yourself, right? There's no this. There's nothing like learning for yourself. If you find that you're not able to convert any of those people. Let's say you take 20 of those calls and none of those people convert, but you take 20 calls with people who say they do and a lot of those convert. Then you'll think, well, I'm not going to take calls with those people anymore and that will be your role and you'll know why you have their role, and so I would just do it anyway because it's worth it for the practice because early on you want to practice, practice, practice, any chance you get to practice practices good, so just take them anyway and then you'll see what happens. James Richardson says, I help uk smes and the software and engineering sectors to get cash back into their business by claiming r and d tax credits. It's a growing market and I'm doing pretty well and scaling up fast. The problem is that the government take away this relief. The problem is that if the government take away this relief, the offer disappears. My plan is to scale this up whilst the opportunity to make a lot as available and invest the money into a more longterm up liberal type business and model that is more in my control. What do you think about this plan? Yeah, I think you know, if you. If this thing is a real. If this thing is a lot of value to these businesses and you know all about it and it's currently working, you may as well just keep doing it until it no longer works, but you're doing the right thing by thinking about this now, right? You don't want to start thinking about it when it's gone. You want to start thinking about it when it's still here because that'll give you time to prepare and when it happens, you'll be like, well, I'm prepared for this. I've always, I've always imagined the state. Now it's here. Sean, some studies. Why does it no longer say consulting in your intro? Now it only says I help people start and grow businesses. Yeah, well we've, we've widened up a little bit more, like a lot of the businesses that we held onto people who would consider themselves consulting businesses and so, you know, we're just, we're experimenting with widing. Widening it up even more, right? Dovish says, can you talk about your experience building out the accelerator? Sure. Well, it's kind of a vague question. I can tell you that it takes a lot of time. I can tell you this is each module in the consulting accelerator, it takes me roughly like 10 to 12 some, you know, the average module would probably take me 12 hours just to make the slides so 12 hours to make the slides and then record it and so the average module would probably take me one to two days to make each single video. Some modules take three whole days working 12 hours a day, so it's a huge amount of time, you know, it's like 12 hours a day, six days a week for like a good chunk of a year to make that thing. And there's a lot of thinking and in all sorts of stuff it's, it's a lot of work but it's know most things that are really great, but when you're starting out you don't want to do it like that. I only know how to make it detailed and like that because I've made courses for a long time and I know my niche very well and I've always envisioned exactly how I wanted and so I'm just getting closer and closer to that. Her fiction image that I have in my mind, it's a very good skill, I think to imagine what perfection looks like, so google does this. If you read Google's letters to shareholders, 2004 to 2017 by Larry Page and Sergey Brin, they're really good, but you'll hear them say they talk about the perfect search engine all the time and they say the perfect search engine with Google, this is division is. You can ask it anything and it will give you the perfect answer immediately. So that's a pretty big vision. That's basically, I'm like God level artificial intelligence, like this all knowing entity thing, right? Like that's pretty intense and it seems even impossible, but that's where they want to go and if wanted to go, they have since day one and so they talk about that every year. They're like, you know, we're making progress with search. We've done all of these things that we're still a long way away from the perfect search engine and so that is what really helps great companies keep going because they've got a perfection image in their mind. Like an ideal. For example, Elon Musk, his is like to make, to occupy Mars, to make the human species multiplanetary and to basically terraform at Mars and then like create a colony there and then create economic, reliable, safe transportation between earth and Mars and then also, uh, convert all energy on earth to a renewable electric powered by solar. Okay. That was pretty big. You know, you got some do, you got the Google guys who wants to build an all knowing entity and elan musk who's wanting to make human race multiplanetary those are cool goals because you'll never, you'll pretty much never going to achieve them. But like, or you if you. But if you come even close, it's, you're so far beyond, like, you know, even if you get halfway to any of those goals, you're still changing the world and your, you know, your, your, you've made a huge impact. And so, and who knows, maybe even you can achieve those things. I would say both of those things aren't really going to be likely within those people's time, our lifetimes. But I think they will be achieved at some stage. But you want to see it a goal that big and get a very clear image of perfection and your mind and then just chase it. But that's what I do. That's why I don't really care about the money. Like people asked me, have you made enough money? Like when is enough enough? I'm like, I'm not looking at money. Like after I made a million dollars basically money you like, what are you going to buy? Like if you like some tasks, like some boats going to go to luxury restaurants and go on vacations and things. It's not fun for me. And so what's fun for me is just getting closer to perfection and you can use money as a tool to get there. But. And that's why I care about the money because you know, if you don't keep your eyes on the money, then you won't be able to achieve your goal. For example, Google was very good at making money and they use that money to invest in smart people in technology and innovation and to achieve the goal. And you know, Elon Musk isn't just like a science test engineer sort of person, he's also a businessman. He knows that the money side is important to achieve the mission. And so you just want to form in your mind this image of perfection and just go after it. Simon says, did you work at the Vodafone on Albert Street in Oakland? If so, we were there in 2018. If so, we have definitely met in person. Um, what was the name of the street? I can't remember. I'll just google it. Can you see it? Hm? Yeah. So I was at the building which says it is 20 viaduct have, but ev, which is basically, you know, 20 viaduct harbor Ed and I don't know what year I was there. It would have been, I would've been like 21. I would have been like 20, 21. And so if I'm 29 now there's nine years ago. So for, in 2018, a four in 2019. Pretty much like 2010, 2009, 2010 in the violet building. That's where I was would see is that you're going to productize everything including quantum mastermind and not hold any live events anymore. No. Quantum mastermind is a special program. It's. I liked doing those live events. I do three of them a year. We do three, three day events every year, four months apart and I liked doing those events. There's not too many people there. We kept quantum mastermind at 100 people. As soon as it gets to 100, we're not selling anyone in and then if someone leaves or drops off, we'll we'll let someone else in. But the limit is 100. I don't want any more than that and because that's when it gets awkward and I can't hold it as a proper event anymore. As soon as there's going to be a stage in there, I'm not interested in it anymore. I don't want to use a stage or a microphone or any of that crap. I. So that's why I've kept it at a hundred and I liked doing those events because the people in the room or at quite a high level and that's my place to like just unleashed on people, you know, just everything. So it's where I get to challenge people a lot and I can move quite fast through the information and the ideas and I can talk about more advanced things because I don't lose people as much because I don't have to slowly explain every single, uh, every single thing along to where I am. And so it, it's kind of fun for me to do. And then we record those events and then we put those in the mastermind portal. So when you joined quantum mastermind, you get access to all of the events. We've recorded them all and so you can listen to previous ones and you can also attend the live ones. Uh, but I'm not going to fully automate that and make it all online. It's it. I really liked doing it in person. So no Dang sees. I have a question about running ads. I'm an ECOMMERCE and we're converting it around the industry average of two percent click funnels is supposed to increase conversion rates. What would be the cases where I'd run a funnel versus your friend? Honestly, don't know you. We'd have to try it. See what happens. Now. Associates, can we chat with the seven figure guys to see what they've done? Um, I don't know what you mean by that. I've interviewed some of them on, on the blog, like if you go to consulting.com and then you click resources of the top and then there's some tabs on that page. You want to click customer interviews and there's some people that have got these, like I've interviewed at least five people who are at seven figures and you can go watch those and you can learn a lot about them like that. Does the program advocate getting most customers align? I feel like if I go with my dad, which is life coaching and helping people, I'm confident to go with that as I will have students and clients around the world. However, I feel scared to stick with my actual gut feeling and niche here in Singapore because I feel not many people want to fork out one point five k for life coaching as opposed to the more lucrative thing for the business, like improving the marketing. Is it okay to go with my dad and become a life coach and inspirational figure for people? It does this program advocate getting most cost, getting most customers online after we took. So you know, if you want to go for if you, if you really, if your gut saying, you know, try this life coaching, then try it, you know, just give it a go. You're not gonna you're not marrying this thing and you're not like you're not investing millions of dollars in capital expenditure into this thing or years of your life into this thing right now. You know, you're just starting and so just give it a go and see what happens. You can always change niches later, but you just want to try it. Oldest is, how do I know if this is real? I don't know. I don't know how you would know that. How do I know you're real? Julian wage human says, how come you grow so much quicker in your abilities then most entrepreneurs do. Do you think it was mainly because you got on this private island in that made you see what is possible and that gave you enough drive and persistence? Yeah. Well, first of all, there are people who have grown and play faster than me, right? Like Steve, Bill Gates, and you look at Mark Zuckerberg, these, these countless ones, like I'm not the best in the world for, for my age. Uh, so first of all I don't, I don't see that, but I would agree that from the average entrepreneur, I'd probably learn faster than the average entrepreneur, but it's always a bad idea to can compare yourself to the average because the average always sucks. And so if you're comparing yourself to the average, you're going to be okay. You're going to be like, okay, with being a little bit above average, which I don't like doing it all. I want to compare myself to the best. And so what I would say has made the difference is compared to the average, right, it's just time practice. So I would say that my skills and abilities in results, uh, in direct proportion to the amount of effort and time and energy I've put into it. So you know, if some person started as an entrepreneur at the same time that I did and I'm twice as far here, I would say that I put an twice as much if it, it could have even been three times as much. It's all about practice time, consistency. If there's no other way, like the reason why Michael Jordan was the best basketball player in the world is because he just trained the hardest he practiced the most and he wanted it more than anyone else. That's why Donald Dang is regarding your previous point of listen, your adsets run. If that works, would you still duplicated? Like you're doing the training? Yeah, you could try that or you could just try increasing the budget if you're having issues when you drew plicate things that, uh, it, it breaks, then just try increasing the budget because that way you're still scaling but you're not, you're not creating interference. Elsa says, I'm lacking confidence and charging for my brand new coaching program it because I don't know for sure if the program will work yet. This is my first hypothesis for my niche. Offer result. Any advice? Um, yeah, you've just got to try it honestly. Like if you have grounded your, your assumptions and in some good data like you've actually identified a niche, you've identified a problem that exists within that niche among participants and you have found like their problem and then created a solution that actually solves their problem and you've done all of this in theory with data and actual facts, then that's fine. You should do it, but you're still going to have fear because the only time you're not going to is when you see it work. Right? So it's normal. You've just got to try. CISA Coconino says, did you read thinking, grow rich? If yes, what do you think? I read it ages ago. I think it's a good book if you're starting out. Um, but I wouldn't get too like to know. You got to be careful that you don't get to what's the word attached to their book? You know what I mean? It's got some good lessons in it, but it's not a book. So I see some people like hold that book because of, it's like they're like Bible or something. It's a good book. There's some good messages in there, but then you move on and you need to do more. There's more to business into self improvement and growth than just that book. Joshua sees that his Myers Briggs profile is I NFP and my wife is pretty strong and something that I've noticed can get in the way of my work. I've always been someone who can get caught up in my emotions or the emotions of someone else often to the detriment of my focus. Do you have any tips on how I can exercise more emotional self control? Yup. It's just practice seriously. Like you have a choice right when you. Let's run through the scenario here. You're sitting at your laptop and your creating that, you're creating some slides, right, and it's a lot of hard work and you'll go and working on this really hard and then you start to get emotional about it. You start to get upset and you start having feelings. Now the feelings don't mean that you get interrupted and stop. You choose to get interrupted and stopped. So you feel those feelings and then you make a choice that you want to give up. And so it's not the feeling. It's the choice. And so what you've got to learn to do is feel it. And it'd be like, no, I'm going to keep going and then just play with it. Me It like it'll. If it wants to give up, be like, fuck you. I'm going to work twice as hard. You know, I'm going to just do tomorrow's work too. And then you just keep, you know, keep like pounding it until you're like, until you gain control over it. But right now it has control over you and you got to just keep going. You've got to like, you've got to be in control of it. I say this with people all the time, like they feel the pain and in a go for the exits. Right. And this happened to me, uh, this week, like this week made me do, um, and it was kind of like out of the blue. One day we went down to the patio, I do cardio on a Tuesday and he said, all right, we're doing the rowing machine. And he said we're going to do like 900 calories or something. And I was like, all right. I started rowing on the rowing machine. I realized that it took to Paul's put one calorie and that's when I calculated that it was going to take roughly like 45 minutes and a ton of work to, to do all of this. And then at that moment that I'd kind of like realize that this was only like 10 minutes in my mind was panicking, right? It was just going to, like, it was looking for the exits of wanting to get out. And that's where most people, that's where most people lose in this moment. And so, you know, I was thinking, well I don't need to do this, like, you know, I don't, I don't need to finish this thing and I can just get up and just stop. And my mind was kind of going crazy, like trying to find a way out because it didn't like it. It was like too stressful or too much, too much for it. And instead I was just like, oh well it's doing this thing again. And I just kept going and so I didn't listen to it. I just keep going, keep going, keep going. And then it starts to fade away and then it kind of just disappears. And then, you know, then when you, as you start going towards the end, then I was like, all right, it's time to have some fun now. So I started going faster at the end and in faster and faster at the end instead of getting tired with the time I started going harder with the time. Just because you just, you know, most people as soon as they quit at the start, but what you'll find with successful people is they will go through that pain and then when the pain comes even harder, that will go harder because they're just, they kind of liked the pain and that's where you're going to learn to do, like you were just leading small little emotions get to you like you should, you should just keep pushing constant. What do you teach a super course about methodology. So methodology isn't really something that you teach a course in, but all of my courses have a methodology. So consulting, accelerator, uplevel and quantum, you know, I'm basically teaching people and applying the frameworks that I've learned in business, which is like together forms like my methodology to how people like. So your learning, my methodology and consulting accelerator, you're learning it not live all, you're learning it and quantum, uh, they wouldn't be a course on my methodology. That doesn't really make sense. Nicolatus is regarding saying we start small. If we speak both English and other cultural or other local languages, what would you recommend us to start with and why? So I would say start with the one that you're most comfortable with. So start with the one that your, you know, if you do your research, whatever. When you do your research and you find the niche and you communicate with the niche and and the one that you're most comfortable with. Do that. One Alan will lead says how could a restaurant delay paying suppliers and improve cash flow where some of them probably do, but you know it like a, like a lot of traditional businesses will get 30 day invoicing but it still doesn't solve it because they still have bad cash flow. The restaurants are just bad. Terrible businesses. Like if you want, if you're really into food and you want to start a business to make the start a restaurant, but if you want to start a business, if you want to start a restaurant to make money, don't do it. It's like an airline. Don't start an airline, don't start a mine and don't start a restaurant. Those are really, really bad businesses Ryan sees since facebook, Kate's dating. Do you know of any ways to get around that? Sure. Well you can just talk about self improvement as a means to today. So you know, talking about dating, if we look at it, you're just talking about like how to get dates with men or woman, right? But really what that person wants isn't really dates. It's mostly like a girlfriend or relationship or something. And the best way to get that isn't necessarily with dating. It's mostly with just self improvement because you know, that's really the core of it all. Not the other things are just little x. and so you could focus on that and through that teach the other things. Layla says, how much time should we focus on facebook for direct outreach? Do you recommend as I it to be very time consuming and I wanted to be able to have time to improve my program. Yes. So you know, if you have gotten, if you have gotten enough, uh, if you have enough clients, like if you've gotten past that point, if you've got a proof of concept, then what you can do is you can start using facebook ads and with facebook ads you're getting clients, but instead of trading your time for it, you're trading money for it, right? So when we start, we're trying to trade time because we don't have money, but once we get money we want to trade money because we need time. And so it sounds like you need to keep doing organic until you can do ads. And then once you're doing ads you'll have more time and that time you can add to the program the carer to carer yelps or see their own. I'm an intp should I change everything? Your, you don't need to change everything, you just need to look at your weaknesses. And I can tell you that that an intp the weaknesses are typically going to be around the eye and the P. Alright? So if you introverted in a doing sales calls and posting on social media, those things, they're gonna be things you don't like doing, you've got, but you have to get out there and communicate with people if you want to get customers. So watch out for the eye and practice being a little bit more he and then the p means that you're, you're going to tend to be quite disorganized and open minded to often. You need to be more little bit more structured, rigid routined and a little bit more organized and disciplined. And so just watch out for the I and the P. Elena says, how do your qs shiny objects syndrome and being overwhelmed with all of the possibilities? Sure. Well first of all, I don't invite them or go and tamed them or go looking for them. Right? So like most of the time I am in my house working on what I do. I'm not like scrolling through my facebook newsfeed looking at all the possibilities. I'm not googling through the Internet, looking at the possibilities, reading news sites like I'm not doing any of that. I'm not listening to all of these podcasts, I'm not listening to all these youtube videos, debts, I'd never do any of that. When I did, I was poor and sit in it sucked. Right? So don't do that because all that is, is just thinking all of the possibilities and you're going to get overwhelmed and then I don't really go out much and go hang out and talk to people and go out and explore that much because you know, I have to focus on what I know I need to do. Alright. So I'm not inviting in all the possibilities. I'm just getting things done. And then when it gets to a point where I've gotten all of this stuff done, now I need more possibilities to keep going and expand. Then all start advising them in a little bit. You know, I'll start, uh, doing some research online and learning about different possible options that you have to be very good at saying no and blocking things out. But you have to relentlessly block things out. Like I don't go on social media. I don't, I don't have any apps on my phone. I don't go out and socialize a huge amount of time. I don't do any of those things. And what you'll find is really successful. People don't do any of those things, right? They just stay. They have blinders on. You know, like those. Like in horse racing, if you watch horse racing, you'll see that they have blinders on. They were this little thing on the head there kind of has a, what's it called, like a advisor that just blocks them seeing out of the peripheral vision and it's because if they didn't have the blinders on, those things would just see each other and panic and it would be a massive collision and chaos. Like it would just all. They would all fall over and break their legs and die. And it's basically what happens with humans. If you, if you, if you, if they don't have blinders on, they just like the race horses and you need to put the blinders on, but every now and then you need to just put the blinders up and just take a look around and find out what you need to do again and put them back on. And then just keep going again, but that's how you do it. Rebecca Joyce's. I'm having a hard time picking one niche with my product and service. I teach makeup through an online portal. I code it everyday woman makeup academy because most women that wear makeup, but I'm unsure of how to pick one area. Example woman in business. I currently have 27 woman enrolled from a range of different ages and lifestyles. Do you have any suggestions on picking one niche rookie? I know, but I'm struggling. I teach makeup. Like you need to get a little bit more specific. Do you teach what type of makeup? You know because you might. I guess you said I called it everyday woman makeup academy. Yeah. So you, you said a little bit more there. You might teach the best way to wear makeup for everyday wear or something. Right? Um, because then you've got all the, you've got makeup for TV, you've got makeup for movies, then you've got like special effects makeup for like horror films where you put blood and stuff on people you've bought makeup for weddings, you've got these makeup for all sorts of stuff. I would just get real clear on like, what, why, like why are these people even wearing makeup? Like what is the reason, what's the problem? Really the fastest way to find out what you're doing is to define what is the problem. Like why do these women even need makeup? Why do they just, we're non. You need to answer that question of yourself and to the woman. So around says I failed at one off method. Even though a person can charge a good amount one time on this, clear in my eyes and it's fixed it. I feel that the one off method, even though a person can charge a good amount one time, the method is stagnant and in one author businesses always on the search of new customers. Whereas in a recurring method you can charge less, but you still expect that customer. Uh, would be charged on a recurring basis and then you can add up and get more clients. On top of that. I have a very good niche that I've been working on and I'm very good at it, but I can only think of one off. Is the revenue method. Is there a way? Yeah. So you'll just, you'll just attached to the Ma the recurring revenue model and you don't need to be, you know, recurring revenue isn't Beta than one off revenue. In fact, if you look at the most successful businesses in the world of all time, they have one off revenue, right? Not Subscription. There are times when subscriptions are great, but there's also times where they don't make sense. And so if it only makes sense to do one off, do the one off and stop worrying about it because you're being irrational and emotional. Just do it, Michael, but says, I'm worried that I wouldn't be able to turn my done for you work into a course later on. All my done for you. Clients seem to need me for the actual work. Don't want to do the work themselves. Yeah. Like what you've got to ask, you've got to ask yourself like what do they really want? They don't want you, they want the outcome and what's the best way for them to achieve the outcome? Well, it's for them to learn how to do it themselves at the level you're able to do it at, right? That's what they want. So you will be able to. It's just gonna take time and practice. Don't worry about it. Joseph says, if you still work in digital marketing, how much would you charge at least as a retainer if you live in, uh, developing countries such as Egypt, the average GDP per capita is about $12,000 for the financial gap between business owners and the average person is bigger than developed countries. Yeah, don't look, when you're pricing things, don't look at GDP and don't definitely don't look at like any of those government statistics. Just pick a number that you think is fear and try it and see how it goes. That's it. Yeah. Kristen vacancies. I wanted to help ecofriendly companies get more customers by utilizing digital marketing. I only sent out emails to companies that manufacture shampoo bars thus far. Is that too small and narrow to start or should I broaden my audience to encompass other companies that produce alternatives for plastic straws, toothpaste, utensils, et Cetera, and get more feedback? I would do it two more. Come more like a wider range because they're all within your niche. Your defined your niche is eco friendly companies, so I would try some of the other ones too because you're still in that experimentation phase. Nlp Liz is. I had started my coaching niche, uh, about helping individuals to overcome it, the herpes stigma, but I felt that I was taking too much about the actually thing that I wanted to demolish. I decided to rebrand my coaching about coaching people to deconstruct self doubt by reprogramming, programming their mindset in this way, leaving a bigger space for the people that are afraid to be found out about the stigma, but still branding myself as something I conquered and help others with. Would you say that this is part of the resistance or was this a smart move? Yeah, I think you could just, you could do, you know, people with self doubt, you can help coach those people that can be your niche, but then you can still focus on that, like on that herpes niche a little bit, but you can also work with some people that uh, as similar to that as well. I think that's fine. But yeah, putting it in your title, like that's kind of pigeon holing a bit when you want to. You could make it a little bit broader. Boy, how could I get to that place where I get a consistent income from referring people like $500 every month. And do you think that is a realistic goal? Yeah, that's more than real estate. Just look at the leaderboard. I, we've paid people like 20 grand a month or referring friends ever. Like consistently all the time. Like there's a lot of people that make a lot of money referring with your friends and they, it's easy to refer one a month. Like just look at the leaderboard and it is definitely a realistic goal. You should aim higher. You should aim to it. You refer like four people a month, two grand a month. Jennifer is the sales script material is fantastic. Are there any resources you can recommend that listed? Additional objections that can come up on strategy sessions and how to respond? We you just recommended doing over a thousand calls before doing a thousand calls, just like I gave you a lot of objections and how to handle them. From here, you're going to find out what additional ones you have and handle them yourself. Choices. How do you deal with customers who threatened to leave a bad review of your product all over the Internet and this you get a full refund. Even when I see it specifically a denial for refunds. Yeah. Well, it, it depends like you need to have like terms and conditions and agreements and things like this. Right? Um, if you have a contract that they signed that clearly says this, then sure you can like, hold up on that. Um, but I would also ask them why they want one. Because you know, if you, if, if you, it might be that you didn't deliver on your promise and you know, it might just be worth it, it might just be worth letting that one go and it depends on the context, but if you just see it, I don't do that, then they asked for it. I mean it's probably a, it's probably a good idea to just give it back to be honest, because you don't eat, they didn't sign an agreement or anything like that. Francis is for a newly patented solar product. How do I conduct research on the niche? If the product has not been released yet? Do I research with people who bought comparable products from Amazon? Yeah, you can do that and you can also look at what value it would bring to people by having this solar product bilateral. Bob Says, Sam, love you. I'm distracted. Working hard, not getting stuff done. How do I focus? How do I achieve? Yeah, well if you're working hard and not getting stuff done, then you're not working hard, so you're kind of fooling yourself because you're telling yourself I'm working hard, but I'm not getting stuff done. You're not working hard, so you know you need to not do the stuff you're doing and do the stuff that you need to do to get the result you want. You know what you'll be doing, I'd be at right now is you, you. If you made a list of stuff to be done, then right now you're not doing it because you said you're working hard and not getting stuff done. So if you weren't getting the stuff done, what on Earth were you working on? Make that list. When I was working hard and not getting stuff done, what was I working on right now? You've got two lists, stuff to be done, stuff to avoid right now. When you go to work, do not do anything that's on the avoid list and do not do anything that isn't the stuff to be done. Only then are you working hard and only you can like, you know, how do I, how do I focus? You just sit down and you lock the door and you turn off your phone and you could out of all of the social media and all of this shit and you just sit down and do it and you don't move until it's done. You just stay in the room and you stay. It's you just gotta get it done. Safer combat is. Thanks for your answer. No problem. Maricio sees. What kind of supplements do you take to improve memory? Honestly, don't take any supplements to improve memory and that it's not something I do, but I can tell you that it's probably most people here would have bad memory, not because they don't take supplements is because they would drink alcohol or not have proper sleep or they would like fill the head with Shitty, noisy inflammation. So if you watched the TV, you're going to screw up your brain. If you have the facebook app on your phone and you scroll through the newsfeed going to screw up your brain. If you use instagram, your brain's already screwed. If you use, if you go on youtube and you click around on their brain's gone, like all of those ways, ways to get your brain really nice and fucked up, and then you go onto netflix. Brian screwed. If you do all of these things at the same time, you're basically on the verge of needing to go to a mental institute. Your brain is that screwed and then you know in order to fit all of those things and you probably need to stay up late in scenario sleeps short and now you're probably going to drink alcohol too because it gives you the same effect as using social media and Netflix and youtube, so you're probably eating. You're probably like drinking alcohol, watching all of this shit and then not having that sleep. That's how your memories gets bad and to fix that, you don't take an official oil capsule like it's what people want to hear. They're like, Oh man, on my memory's so bad. It can't be that. I just pollute my brain all day with mindless crap. Don't get any sleep and go out and get blind drunk all the time. Can't be that. It must be that I'm lacking my Omega Three fish oil. I'll just get this little pill bottle and just take these Omega threes and I'll be good. It doesn't happen. The only way to fix this, to stop drinking alcohol, go to bed on time, get eight out out, get eight hours of sleep each night and stop using all of those like hypnotic social media channels that ruin your brain. It's honestly like the best. The best thing you can do is those things just sleep, eat good food, exercise, stay hydrated, don't drink alcohol and don't smoke weed and do drugs and shit like that. Like smoking weed's a good way to make yourself do it. And you know, in business you're trying to be smarter. So like if you, you know, if, if you, if you want to be a good entrepreneur and you smoked weed, then this kind of the two don't go well together. You know, so you, you want to work on things that improve your cognition, not disable it. And so you don't want to do that stuff and things like sleep and all of that, that helps your cognition. I would say one thing that's helped me a lot that I do is I don't do little bites. So. And what I mean by that is you'll notice with my videos, I'll start a video like the modules and accelerator and will start in our build up and I'll complete the whole thing and then I'll take it to its conclusion and ended. And so it's Kinda like it's going from start to end and one chunk and we'll get the job done. And often that's a long thing. Like, you know, some videos or an hour to three hours long. And even on these q and a's, we go for two hours from start to finish. We don't stop. And that's what I do with pretty much everything. And it's because I've trained myself to start something, take it all the way through, do everything and then finish and install. But, and I do that with everything. So if I'm watching a movie, I'm not going to watch a movie. And then like if I start that movie, I'm going to finish that movie and then if I start even a song, like if I start listening to a song, I'm going to finish this song, I'm not going to skip around all the time and you know, when I go to stop my day, I'm going to finish that day. I'm not going to go out and try all of this different stuff. And so it's a mode of behavior. And what's interesting is I see it on youtube. People tell me all the time, like they like dying. They're like, please send, make short videos, please make like short, chunky, like short little videos. And I'm like, you don't get it dude. It's your asking for the thing that is your problem. You are asking to feed your addiction. Like sure I might get more views and more subscribers and shit if I started making short little videos, but no one would get helped because you need to learn to take something from it. Start to its end in one, go in, one sitting. And, you know, this is true in everything because the best athletes of all time. So like Michael Jordan and Kobe Bryant, uh, in basketball and Dwayne Wade, they uh, they uh, coach Phil Jackson, Phil Jackson. When he taught those, all of those players, he uh, I don't know if he taught actually Dwyane Wade. There was tim grover. But I know he, I know. I'm so. Phil Jackson taught Michael Jordan and Colby Bryan. He was their coach and he would, when they would watch previous basketball games, right? Like they watched tape. That's a good way to learn. They wouldn't just go to the highlight reel. He, Phil Jackson teaches his team. Never, ever, ever watch the highlight reel Neveah if you're going to watch a game, you watch it from the very beginning all the way through to the end and you don't watch a little bit because again, a basketball doesn't happen in little bits. A game of basketball is, it happens. It's a string of the beans and all of them are interconnected. Right? And you're never ever going to learn how a game of basketball flows and how a game of basketball like is all connected and that if you just watched a little bit so highlights and so all the players would complain about that. At first they would like be like, we just want to watch this little highlight that or that. He'd say, Nope, you've got to watch it start in. And that's what all of the best athletes do because that's the only way you can really understand. And so, you know, that's why a lot of my videos too, we do the whole thing. We don't just do the little highlight reel pieces and I also don't cut my videos. So when you watch any of my videos there'll be like no pats and I'll just do it one take because it's, I'm trying to get it to flow and get people who are watching like a huge part of consulting accelerator. It is just if you can sit down and watch a video from start to finish, you're already learning, you're learning to pay attention and you're learning to like stick to things. For a long period of time, that's part of the reason why the video is long because it's trying to get people to calm the hell down and focus on things for extended periods of time and if you can do that then business will become a lot easier. And so kind of gotten off topic a little bit, but still related question, what kind of supplements do you take to improve memory? It's not supplements, men. It's how you live your entire life. That improves your memory. You got to be careful of ever doing things that are real bitsy, you know, like. And that's kind of why I don't like socializing and going out to like social group gatherings that much because it's so busy. It's like, oh, hi, what's your name? Like this is a good event. Yeah. And it's like, no, we never, we never going deep into something. I'd like to have a conversation with someone one on one for like six hours. Right. And really go into it. That's kind of what I like to do. And you want to teach yourself to do more of the long deep focus stuff instead of lots of the like scattered or distracted stuff is a huge correlation between, you know, people who are billionaires and their ability to read books start to finish. Like if someone can't sit down with a book and finish, then forget it like you, you're not going to be able to succeed in business until you can at least read a damn book because you need to, you need to get patients, you need to get, uh, like discipline and you need to be able to focus on singular things for long periods of time. And you need to get, you need to build a habit of completing and finishing, not starting and switching. And most people these days are starters and switches, almost no one's to finish it. And if there are finished error, it solve a task that's like a microsecond second. It's actually the thing like why snapchat and instagram stories are like 14 seconds, cause all of the scientific studies showed that the average human's attention span is about 14 seconds. So you know, it's gotten so bad these days that these people are like, just watching these stories in. It's changing every 14 seconds. It's like sitting at a little kid in front of a strobe light and just just, they just staring at it. It's totally messed up. You instead, back while ago, people would sit in front of the book and get it done, which might take two days. So you know, there's a big difference and you want to train getting things done, completing things long things. Patrick is my current job has me working 14 hours a day. Then I get home and spend some time with my wife, my son. Uh, how do you suggest I leave their current position so I can apply those hours to my consulting business without losing income or my house is a good question. Fourteen hours a day, man. It's a lot of work. What the hell do you do? I don't think any of my employees work 14 hours a day. I mean every now and then they might, but every day is a lot of work. I don't know what you do, but I would, I would think, well, how is it necessary to do that much? Could I do, could I get the jobs done in a shorter amount of time? And if not, could I get another job that's going to have shorter hours because 14 hours is way longer than the average human being works and in the world, um, you know, I work about 12 to 14 hours a day and that's, that's a, that's a lot. That's longer than most people. So surely you can get another job that's going to have less hours and then you can allocate that surplus time to your business. But right now honestly, you don't really have any damn time and you can't really get any because if you're working hours a day and you have to, you've got a wife and a kid that you've got to spend some time with and then you need to sleep, right? You can't sacrifice the sleep. You don't want to sacrifice seeing your wife and kid completely because that's, it's not good. And then it sounds like your jobs, there's no time lift all 24 hours at gone and so the only way you're going to get more seriously is if you get another job because there's just too much. And it's just the honest answer. I could say, oh, just take heavily asleep, but there's not a good idea. It's a really bad idea. You need to find a job that's going to be shorter hours. Even if you were in a little bit less. Like you just need some time in below. Bob says it's not the feeling, it's the choice. That is true. It is not the feeling. It's the choice. It's not anything. You know? That's why I find it amusing when people say that they were offended because someone said something. I'm like, I. It's pretty amazing these days. Like people get offended at the weirdest things. Like what people have kind of forgotten is that for you to get offended at something, you had to choose to be offended by it. Right? Like if I walked out of my house and some guy just called me like a addicted loser, and if I actually got offended by that, that's my fault, I think because they. Why, why should I let that offend me? And so instead of in a lot of people they think, oh, that person should be stopped and they probably should stop saying that to you. But instead instead of complaining and instead of like saying that so offensive, I'm offended and all of this shit, like just toughen up. Like, just don't care. Like if someone, if I walked out of my house and someone called me a dickhead lose, I honestly would not care. Hope would not. I wouldn't even think about it again for a second. And so that's how you don't get offended. Like offended is a choice, right? Getting angry is a choice. You know, if someone, if someone starts screwing with you and you get and you turn it into a hot head and snap, that's your choice. And then if, if, uh, you get sad, that's your choice. If you get emotional, that's your choice. If you get tired, that's your choice, like everything is your choice and people seem to have forgotten it. They think they think it's like that person's fault or that person's fault or it's trump's fault, you know, like I'm poor because of trump or something like, you know, it, it's mostly, it's mostly your fault. And so you just got to fix it. And the cool thing about being like, oh, it's my fault is that you can actually change it, but when you think that it's someone else's fault, you can't do anything and you just let that person take your soul and when and so you can't do that and it goes for everything. And that's an important skill to have in business and entrepreneurship. Don't let things get to you, even your self. Don't let your own emotions and thoughts get to like if you have a negative thought about, oh, what if this fails? And in this happens, don't let that get to you. It'd be like, this is a stupid thought. I'm going to keep going. Alright, well we are at the time now we've gone for two hours. So like I said, uh, that we do these calls pretty much every single Saturday and we go from 3:00 PM to 5:00 PM eastern time. That's the time in New York. Uh, and if you liked this video, if you enjoyed it, you got some value from it, just click that like button. Give me some feedback and I'm gonna tell you right now, I'm going to open up my calendar and tell you if we're going to be doing one of these next week or not. So next Saturday is the 22nd and then the next one will be the 29th year. So next Saturday we will be doing a live stream Qa. So Saturday, December 22nd, there will be a live stream that. So you can put it in your calendar now, 3:00 PM to 5:00 PM and I'm. Yup. Thanks for attending. And I look forward to seeing you on the next one soon. Have a good weekend.