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Consulting Accelerator Livestream Q&A, April 21st, 2018

Consulting Accelerator Livestream Q&A, April 21st, 2018

Summary

Livestream Q&A call recording for April 21st, 2018. 

Transcript / MP3

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Sam: All right, I can see a couple people jumping on. Says there's three people on right now. You guys just let me know if you've got audio and video working. Just make sure we're good to go here. Someone can just confirm we're good with audio and the video, then I'll go ahead and jump in. I see we've got EL, Chris, Michael, Ellie, Ely. All good here. Cool. Looks like we're good. Let's jump right in. If anyone's got questions, let's just do some Q&A. That seems to be what people find most valuable. Just ask your questions, and then we'll get to it. We'll start with EL's question here. Just got to copy this over before it gets, because it might get, he asked it first. It might disappear on me. Wait a second. All right, so EL helps people break through the inherited mental conditioning and attain the ultimate experience of life. I make videos on it on social media to pull awareness in, but have only one client and she alone is not enough to have proof of concept. I can make it less strong by saying I help people to end the incessant mental noise and to live in a beautiful state. I found that to bring myself fully, I have to do the things that are passionate to me the most. What are your thoughts? How would you refine this offer and make it killer? Good question. Right now you're too abstract. You're talking in terms that aren't used to describe reality. When it comes to words, there's words that describe real life, like you could say, I'm having problems with my relationship or my marriage or I'm having problems with my business. Then that's talking about something right there. What you're talking about is I help people to break through the inherited mental conditioning and attain the ultimate experience of life. Inherited mental conditioning, that isn't really describing something exact. Then the ultimate experience of life is not really describing something exact. The ultimate experience of life, we don't even really know what that is. That's very hard to define. Then the problem, so that's your desired state. Then the problem is that the people have inherited mental conditioning. It's too abstract. You need to make it more real. The best way to get you to do this would be tell me, write another comment on this call and tell me a story about somebody who's worked with you, paid you money, and tell me the problem they had, the actual problem they had when they came to you, the work you did to get there, and then now what their solution is and what that's like. I need to hear a real-life example and a real-life story so that we're not working with abstract terms. Because everything gets confusing when you're talking in an abstract terms. Michael Brincas, do you think selling through stories is effective? Yeah. I mean, stories are powerful. Sure. Cool, I can see we've got a bunch of people on. We've got Chris, Ely, and Andre, Gabrielle, Thomas, Edward, Christopher, Arthur, Lock, Robbie. How's it going everyone? All right, Yoanne says, "Hey Sam, as I'm researching my niche, I'd like to post the survey on the group but I don't want to cross boundaries. Would that be okay?" Sure, you can post a survey on the group. Just make sure it's within the group. Make it a poll or something. Don't put a link in there and try to send people off to some other thing. We don't allow that sort of stuff. If you're just asking people questions or you're doing a poll in the group, that's fine. Jesus says what's up, how's it going. Edward, Sam, I'm trying to refer a friend who migrated overseas to China to the consulting accelerator course, but since he is well-versed in English but not so much in Chinese, how do you suggest the course can help him since he could not do any local consulting? Migrated to China, but since he is well-versed in English but not so much in Chinese, I mean, if he's in China and he doesn't know how to speak Chinese, then he should try and learn how to speak Chinese. Otherwise he's going to be living in China and only doing business in English. In that case it's probably best to just probably do business in Hong Kong or something where a lot of people speak English. Or just to do business in China and English, or do business internationally from China in English. It sounds to me like the consulting accelerator program isn't the issue. The issue is the fact that he lives in China and doesn't speak Chinese. I'd just tell him that. Arthur says, can you talk more about living in day tight compartments? Yeah, it's just real simple. You just focus on today and what you need to do today. Because things are daunting when you look at them for a week, a month, a year. There's a lot of people that have annual goals. They're like, oh, I want to do this, I want to be like this or I want to be rich and do all of this stuff, but then they don't do anything about it and they kind of just get intoxicated by the goal because they're just looking at it and dreaming about it and feeling happy because they think they're going to get it. You never do when you do that. You have to take action and you have to implement day to day. You just want to isolate each day and treat it as if there is no tomorrow. Because when you do that you just do your absolute best today, work until you're absolutely at your end. Then turn it in at the end of the day and you're exhausted. You couldn't have done anymore that day. Then the next day do it again. Then the next day do it again. When people are thinking about a week and a month they're like, "I can't do this. This is too much in put to sustain this for a week or a month or a year or multiple years. It's too daunting." You just have to treat it one day at a time. Because then your main focus is just get it done today. Then a day comes, just get it done today. Before you know it, months accrued, weeks accrued, years accrued. You got momentum. Sophie says, "Hi Sam, how's it going?" Matt Wiseman says "I'm currently doing research on AI in the pharmaceutical industry and I want to gauge interest in AI and learn about roadblocks. Do you have suggestions on the best way to find and contact 50 to 100 people?" I would just do, I would just find people who, you're trying to just cross-pollinate two things here, right? You got AI on one hand, and then you've got pharmaceutical on the other. I would join Facebook groups to deal with AI. I would join forums and online communities to deal with AI. Then I'd join pharmaceutical industries and pharmaceutical forums and pharmaceutical fan pages. I might even go to some pharmaceutical events, and then I might go to some AI events. Now you're doing both and you're learning both. Then you can start to see how you can cross pollinate those two things. I think trying to find AI and pharmaceuticals all in one person, I don't know, I haven't looked, but it might be difficult. That's not to say that that's not a good niche, but you might need to look into both worlds and think about how you can make them collide. I do that quite a lot. I'll look into multiple worlds to bring them all together. Like I've looked in psychology and mindset and all that stuff. To learn that, I've had to look into a lot of sports, a lot of professional sports and things like that. Then I've also had to look into sales and what's the best stuff in sales. Then what's the best stuff in advertising on Facebook. What about funnels? What about conversion rates and analytics? Then what about best stuff on financials and accounting and all that and try to just bring them all together. It sounds like you're trying to bond just two things. That can work really well. I would definitely look into it. Your point is interesting because I had my data scientist said do an analysis on everyone in consulting accelerator of all time and look at their niches and see if there was any trends to do with how people choose their niche. We were really interested in seeing, is there some common trend among people? We found that there is. Most people are just applying new age technology to any history. They're going, like that. Like Andrew Argue with applying paid advertising, funnels, conversion rates, digital marketing as well as good phone sale skills with the accounting industry. Boom, packaging those two together. He's helping accountants go from the old way to the new way. Then with me, I'm helping consultants go from the old way to the new way. Then a lot of students in here helping people go from the old way to the new way. It seems to be a common theme. For a lot of people who are thinking like oh, it's my niche and all the stuff, you want to look at any niche, really, and see how they're currently doing things and see if those ways of doing things are inefficient or outdated or just plain wrong. Because this is what happens. Over time, a marketplace in an industry, in a niche will develop this way of doing things. It's like their business as usual. That way is fine, but after a bit of time it gets outdated. A lot of the people inside the niche can't see it. They just keep doing things as they've always done them. Then it take an outsider to come in and shake things up and revolutionize it. Matt, you're looking into the right sort of thing. Bonding AI with something like pharmaceuticals. You want to blend both worlds and see how they can collide. A lot of you guys and girls in this program, when you're looking at your niches in your research, think how you can bring new age methods and practices to these places. Michael Brincas, what's your thoughts on making a second Facebook profile that content can also be posted on to get double the reach and double the leads? [inaudible 00:12:46] using organic Facebook method or client attraction, plus Facebook limits only 5000 friends. With two accounts you get double and message twice the amount of people. It sounds great in theory, but practice would be another thing. Something like saying, "What if you had two websites? What if you had two companies?" It doesn't always work that way. Quite a lot of times it's best to have one and just put your effort into that one. Because to build one Facebook profile with good engagement, good content, good posts, and good practices where you're adding the right people and in groups and things, there's a lot of work. That's hard to do. Just to upkeep that thing is kind of hard. You go and try and do two of those things, very hard. Plus if Facebook ever finds out that you have two profiles, they'll delete one of them, guaranteed. They will because you'll be logging in from the same damn computer all the time. If not, you're going to be posting similar links, someone posts. Their AI will identify you really fast and probably shut down your account. Just stick to one. No need to make it more complicated than that. Thomas says, "Hey Sam, I have a satisfied client who will finish her three month program, and I would love to keep her on board. I know she can profit highly from staying with me, but what is the best way and best practice to tell her to stay with me without her feeling offended like she can't do it on her own?" First of all, I don't think she's going to be offended because you're not saying you can't do it, she can't do it on her own. You're just merely saying to her, I would just tell her in plain English. There's no really to do this real fancy. I'd just get on a call with her and say, "Hey, you're coming up to the end of your program. I don't know about you but I've really enjoyed working with you." Then see what she says back. Then say, "So the results you've had are really good, right?" Then I'd say, "Yeah, it's going to end. I don't think we really need to make it an end. What do you say we just keep working together and keep getting you more results? Because I can see that there's a lot more out there for you and really you're only just getting started." THen just tell it to her like that. Then she might say, "Sure, yeah. Let's do it. How would that work?" Then you can just come up with something together. Done. Mitch Gonzaldez says, "What's up Sam? What do you recommend for recurring revenue stream and consulting besides Done For You?" Honestly you don't, so you've just moved from Done For You to group coaching and online courses. Because Mitch is in the upper level consulting program where we teach how to make that transition. If you want to learn more about that, look at week seven. When you go over to programs, it'll be a change in business model for you because you're used selling clients one time and then having them pay you month after month and have the recurring revenue model, right? Once you move to the program model, you're selling people a program one time and then that's really it. It's not a recurring revenue thing. I mean, some of your clients will pay you with split payments and that will give you a little bit of recurring revenue. Over time you'll have, I'm estimating that 50% of your revenue will be collected in cash up front on day one. 50% of it will be collected through accounts receivable over in 30, 60, 90 day buckets. You'll have 90 days of MRR, which is just rebills of accounts receivable all the time. You'll never have long periods of MRR. What you'll find is that you don't need it. You don't need recurring revenue. It's nice to have when you're just getting started. You get one client and they keeping paying you month after month. Once you make the switch and business models from Done For You to training programs, you can sell enough programs that you're making a lot of money anyway. It's a change in business model. Yoanne says thanks. Edward Tang, Sam, what are your thoughts on hiring and firing on our way to the six and seven figures? I don't think you need to hire anyone to get to six figures. These sorts of businesses, you can really get to, I got to about $300,000 a month in sales before I hired one person. It was just me. I didn't even have a virtual assistant. It was just me. That's probably going a bit too far. I do kind of wish that I'd hired someone earlier. I don't think you need to hire anyone until you're making 100 grand a month. Because it's very easy to manage your business even at that. I wouldn't even worry about it until need to worry about it, which is later on down the path. It's amazing how much stuff you can do as one person. Robin says, "How much sales and money do I have to have to automate my business?" I don't really understand that question. What do you mean by automate your business? You mean automate the entire thing so you can go away and leave it and it just ticks and makes you money, or automate what? That's too vague. Jesus says, "Have you been enjoying doing Instagram stories?" It looks like fun." Yeah, it's fun to do after you've done your real work. When I start the week I know what I need to do. At the beginning of the week, you probably noticed I'm very focused and I might not do any stories at all. I'll just be doing all the stuff I need to do. Then typically on a Friday evening if I've gotten everything done, then I'll start to have a little bit of fun with them. They're great to do but they're not the main thing. My audience does want to have a connection with me and I do grow my reach and my brand and I do even get customers from doing them, but they're not the main thing. I can never mistake the main thing for something like Instagram or YouTube or anything like that. Ely or Ellie says, "Sam, what do you suggest when it's almost impossible to generate leads in my niche through Facebook and AdWords?" First of all I would question that. How do you know? What is your niche? Comment back, tell me why it is impossible, explain your argument, and then tell me what niche it is. [Davige 00:20:33] says, "How would you get hold of large website owners?" I mean, I would just find the website that you want and that you want the owner of. Then I'd finally do some research to find out who owns that thing. I'd looked on LinkedIn, might look on Facebook, might look in the about us page. I'd have to do a bit of digging. Then when I found that person, I would probably just add them on a friend on Facebook or connect with them on LinkedIn or try and dig around and find their email address and send them an email. Or I would go through a middleman and I'd find maybe the marketing manager or the general manager or even a distant or anyone. I'd first of all take a shot at trying to go straight in at the owner level, because you may as well. A shot across the bow, see if you can. If you can't, then I'd retreat and try the middle ground approach. Petite says, "Good morning Sam. My research has returned, social issues, but nothing tangible I can personally solve easily. My conclusion was was, how to go from a casual drummer to a professional production drummer? Recording studio, shall I change my niche to something I have more experience in? Shall I continue to week two with my mindset training to clarify my thinking?" Yeah. I mean, I remember you said last week that you chose the drumming niche. You were doing research on it. I'm not surprised that your research turned up the fact that drummers want to become more professional drummers. That's the same with every profession, really. If you don't know how to do that, then that's not the best niche. It's not the best thing to help that niche with. Unless you know a professional drummer that you can partner with and make this happen or something, then it's probably not the best one to do. I would just, yeah, go into the mindset training, do that, and then just try some other niches too. Just do some research into other things that you're interested in. I wouldn't just go straight for that drumming one if you don't know how to become a professional drummer. Michael Brincas says, "How do you tailor your message and your voice to a couple audiences in my niche?" What is your niche? Did you tell me that? Okay. I don't think you did. You really don't, you know, you really don't have to do that. Different people pick up on different things. For example, the consulting accelerator program that you're in. We used one webinar that has one landing page. It has one message. The same ads for everybody. We advertise all over the world in Europe, all over the world. We're in a lot of different countries. We also advertise to men and women from the ages of 18 all the way up to 65+. It works with all of them. You don't really need to, you need to think about the things that all of the people in your niche have in common and shared together. You might think, "Oh, the 18-year-olds are different than the 60-year-old and the men are different from the women. The people in China might be different from the people in America. They might be different from the people in New Zealand." You'll confuse yourself. Sure, there is differences between those people but there are some attributes that unite them together as one. That is the fact, in my case it's the fact that they want to start their own consulting business or grow their own consulting business, make it more efficient, make it more profitable, make more money, and make it more predictable and really improve their life and their lifestyle and all that. All of those things are shared among all of those different individuals from all different places all over the world and different ages and different sexes and different races and different everything. Just look. Don't get lost in the detail of it. Look at what things they have in common and make your message around that and ignore the other parts. Yoanne says, "My niche can be all over the world. Would you suggest that I start with the US, time zone issues, possible different problems based on their country of residence?" Yeah. Everyone's niche can be all over the world. You want to start the one place that makes the most sense or the one place that you're most confident. That's usually close to home. I started in New Zealand. Not even then, I started in Auckland in New Zealand, which was like my city within my country. That's what I did. Then I expanded and grew and now I'm in America. Start where you're most confident. Anne Dee says there is no tomorrow. Yeah, that's what you want to behave like. Arthur says thanks. Luanne, the photography niche. A lot of new photographers offer free shoots. Do you think that I should do that also or always only reach out for the paid gig? If you're a photographer, I mean, it's obviously better to go for the paid gig, right? Who wouldn't rather just have a paid gig instead of doing a free one? That's the obvious answer. I try and do everything you can to try and get paid gigs without having to do any free gigs. Because you can guarantee it that the professional photographers, they ain't doing free gigs. However, if you're just getting started, sometimes some free gigs can be good because it gets your confidence up and you can get a portfolio and some case studies and all of that. Your main objective should be to not do paid gigs. I mean, to not do free gigs. Jason Hart says, "Andrew Argue's story really resonates with me. I became an expert at selling cloud computing and taught over 4000 sales reps in corporate America. I built my own cloud business and want to start helping others. Trying to frame up a proof of concept and make sure I'm not skipping steps. Done for you, done with you, one-on-one, et cetera as I've heard you want others from doing that. I'm also worried about what you said of helping people start from scratch." All right, so let me understand what you said here. Trying to frame up, yeah. There isn't really a question in here. I mean, I understand what's going on in your brain from this. Like confused, few different variables, all twisted around, which you told me about, but there isn't really a question. What'll clear it up is just ask a question. Figure out what your actual question is and then ask it, and then I'll answer it. Then we'll start making progress. Ely says how do you feel about translating your courses in French? I know it will help so many people. Sure, we're going to do it later on but right now we've got our work cut out for us just in English. It'll happened later on, but at the moment for this year at least we're focused on English. Tammy says, Hey Sam, I joined accelerator [inaudible 00:29:15], got up to week three and realized my niche was far too vague so I put it down. Now I'm ready to get back to it. Here's my niche. I help women in their 30s attract true love and abundance through my on my coaching programs. Would love to know what you think. Would you, like you have discussed with others in recent Q&As, what I really do in terms of taking them through the internal work required to manifest their desires, needs to come out, needs to come as a Trojan horse so to speak so that what I've come up with is the clearest I've been able to get thus far. Thanks. Cool. Glad you like the program so far. I hope woman in their 30s attract true love and abundance through my online coaching course. Yeah, so here it's simple again. We're dealing in abstractions. We're being specific, when you say I help women in their 30s. Specific. The word attract, cool. Attract isn't an achieving word. It's a word that's describing a pull, but nothing final. I would say, and in true love and abundance through my own, so true love and abundance, I mean, that's a feeling and not like really an attainable goal. Because even when you do obtain that feeling, it changes and it goes and then it comes back again and it goes and comes back again. You know what I mean? We're dealing with abstractions and things here. We need to get it sharp. Like I help women in their 30s attract a husband or attract a man of their dreams or whatever. That's more specific. I don't know if that's what you mean by true love. I'm guessing. And abundance, the abundance one I would just kind of leave that out because it's such a fluffy word. No one can really prove that somebody has helped someone get abundance. Because it's so floaty. It's like, I could say, "Oh man, I did a program and now I'm so abundant, I've got so much abundance." I don't even really know what I'm talking about. I could be just under some sort of illusion that I have abundance, but really I might not. There's no way to define abundance. You need to get it more like I help people to do this by that, bam. Then later on when you become famous for this stuff, then you can make your, you can start using more abstract words and get away with it. Because people just know you've got a lot of respect to this field and whatnot. It's hard in the beginning to be that vague. In the beginning you've got to be very specific and really describe the goal. Write in the comments and tell me what you actually mean by true love and abundance. What does that mean? Do you want to actually help them attract it, or do you want to help them get it? There's a big difference. You can attract money. That might be almost making a million dollars, but they're not. That's attracting it. Or do you want to help people get it? It's subtle stuff, but I mean, these words make a huge difference. They mean totally different things. Colton says, "Sam, I'm an Army reserve drill sergeant. Think the guy who yells a lot with the round hat and full jacket." That's a good description. I visualized it immediately. When I'm on duty this is a very demanding job sometimes requiring 20 hours a day. However, being a reservist I can be on duty anywhere from two weeks to a year at a time. How might you balance these? If you're working, on a day that you working 20 hours, I'm going to tell you you're not going to be able to do anything else. Because that means there's only four hours left and you want to be sleeping in those. You can't really do 20 hours of army yelling and then just start working on your business. During those days, you're out. When you're not, I'm guessing that it's kind of an on or off thing. You're either doing the Army stuff or you can do whatever you want. That's what you got to do. When you're not doing the army thing, you're all in on the business. When you're doing the Army thing, you're all in on the Army. Just make it cut and dry like that. Then if you know your schedule, then preplan it. Premeditate it. During this time I'm going to be doing the Army stuff. No business at all. During this time I'm doing the business stuff. However it's on call and random, that you can't really control that unless you quit. I would, yeah. That's out of your control so you've just got to deal with that. Just whatever happens, you've got to do what the circumstances allow you to do. If you've got to go do the army thing, you've got to do that. No business. If you don't, do the business. Just take it like that. Elizabeth Steel says, "I successfully help general managers gain clarity on their direction and purpose during one-on-one coaching. What's the best way to scale up to coaching and mastermind a group like that?" The best way to do that is to have, how many clients do you have doing this and what sort of results have you got for them? Tell me that, then I can answer. Paulina says hi. So does Eva. How's it going. Andrew [Behary 00:35:48] says, "Have you read The Kybalion? What are your thoughts?" I've read some of it. I've got the book. It's kind of interesting. That's about it. I try to read all of those old books because they're really just philosophies, right? It's interesting just to see these different philosophies and how different people think. The one best thing to do is never subscribe too much to one thing. That's how you can get into trouble. The best thing is to look at all of them and see how these things happen. Then you can really get insight into how all these things work. Marco says, "What do you say to people who don't feel like they need the new way, as if they're apathetic? How would you open up the market further?" I mean, is this a reality we're talking about here or is this a hypothetical problem in the future? Have you tried the to sell lots of people the new way in a specific niche? If so, what is the new way and what is the niche, and what did they really say for you to infer that they don't feel like they need the new way? We need some realities that I can solve. Because you're asking me like a riddle. You know what I mean? Tell me what's happened, facts, and then I can help you. Colton says, "Another question, is there a limit on these calls?" No. I mean, they stop at 5 o'clock so we go from 3 PM until 5 PM, so they're two hours long and they're going to happen every Saturday unless I'm busy. If I'm on vacation or I have to do something, then we might not. Otherwise I'll try and do them every Saturday. You can attend as many of them as you want. I tried running Facebook ads for a credit to appear service, and my ads get denied time and time again as Facebook claims my ad copy focuses too much on audience demographics. I have literally zero focus on any demographic. Have you run into an issue like this within a particular niche? How might one circumvent this? Yeah, show me the ad. Copy paste the text or give me a link to it or get a screenshot of it and then put it into Dropbox and share the link in here for the ad. Let me see the ad and I'll see what's going on with it. [inaudible 00:38:39] says, "Hello, how's it going?" Sophie, "Sam, I have questions about my niche. Through my experience, my beauty industry is more speak to client language than they have a lot of ..." Sorry. I have questions about my niche. Through my experience, my beauty industry is more speak to client language that they have a lot of frustrations, the clientele. How can I cooperate with my prior passion that I had experience? Do you think that a lot, sorry. I'm having trouble understanding this. My prior passion that I had an expression that I had a long time to research how many spa owners to struggle to marketing. What does this mean? Honestly, this is very hard for me to decipher. Try and word it in a more clear sentence. Tell me what you did, and then tell me what happened. That might make things clearer here. I can't really understand what you're asking me. Edward says, "Sam, how do you learn best? What do you recommend reattaching the concepts learned in the program to ourselves or better comprehension?" How do you learn best? I think one thing a lot of people have is a fear of learning. When they're reading a book, when they're going through a program, they're worried that they're not going remember it or they're not going to do this or they're not going to do that. I mean, the best way to learn is to consume the information, but then implement it. You don't learn anything until you implement it. It's almost just a fantasy until it's implemented. That's how I learn is by not really from reading. I learn things from reading, and then I implement them. All of my best lessons come from implementing. Everything taught in the consultant accelerator comes from me doing it, failing lots of times, and through trial and error, iterating until I find the right way, and then being able to consistently and reliably keep doing it the right way, and then improving the right way to make it better. When I find one of those things, then it's a good lesson to teach. It's not like, the worst way to really, what makes some programs really bad is that they read things and they learn things from programs, and then they put them in their own programs. Because they learn them and they teach them, but they've never done them. You don't want to do that. You want to do it. The best way to be a good teacher and the best way to be a good anything is to do it. I would rather learn from a dude who has ridden a bicycle than a dude who has a Harvard MBA on riding bicycles any day of the week. If you're thinking how, your question here is how do you learn best, by doing. You have to learn the thing to know what to do first though. You've got to absorb the information, turn it into actionable steps, implement it, and then keep trying and trying and trying and troubleshooting until it works. Then when it works, you've probably learned some valuable lessons. You'll never forget that stuff. It's like riding a bike. You go get back on a bike now, it'll come back to you. Even though in your conscious mind you can't recall a push pedal on right leg, push down, feeling like I'm falling over to the right-hand side, lean to the left, pull on the brake because I'm going too fast. You don't have those concepts in your head and you don't write them down on a pen and paper. When you get on the damn bike, you ride it. It's there. When you do it, it's there. That's what doing does. It makes it instinctual instead of just notes on a page. That's what you want to make everything like. Implement it again and again and again until it just gets cooked into your instincts. Justin says during direct messaging on LinkedIn or Facebook, is it best to set up a time for a 15 minute chat and then book another time for a strategy session during the 15 minute call, or should I try to perform a strategy session on that first 15 minute chat? I think it's best to book it on a separate call. Because that first 15 minute chat, you've probably just told him it's a 15 minute chat. Then you're totally changing the subject and they might get confused about the purpose of it. It's nice to have a separate call which is just a dedicated to that. I would make them separate. Unless the person on the other hand is like, "Oh, but honestly we can do it right now. No, I want to do it right now." Then don't fight them on it. Just go into the strategy session. You should be pushing them towards, you should be asking them when a time suits for the strategy session. You're not trying to influence them to take it all in one call. If they want it, they'll do it. Anita says, "Will you teach us about artificial intelligence or data targeting, or it may be called something you plug into the custom audience? I've heard that agencies are ditching the usual Facebook method and charging people 5K Done For You DM a month, and clients are signing up for these agencies like crazy instead. If we don't adapt, will we get taken over? I see agencies that adapt these methods that are taking over in the USA. I hope I make sense and don't understand. It's something I see and hear a lot. Please, can you explain this in detail? I hear you reach a lot more people and your cost per client goes down so much to your targeting people." Yeah, I mean, we spend a fortune on ads. I'm in a pretty good space to know what works well when it comes to advertising, especially on Facebook. I haven't met anyone yet ever that spends it more. We don't use that at all. That says a lot. Then all of my mastermind clients, they spend a lot too. I get to argue, he might spend 300 grand a month or something on ads sometimes. It's a lot. None of them use it. I mean, you just heard about something and now you're worried. It's not a reality. Yeah, I don't think you need it. I've got my guys to look into it. We looked into this thing called Axiom Data or something. You know what, I get it. It looks cool. It's kind of, I can see how people think it's a really good thing to do. It's not like a make or break thing. I don't think it's really done much. I would not worry about it at all. Because believe me, if it is something to worry about it, I'll be worrying about it before you. If I have to worry about it, I'll fix it. If I fix it, then I'll tell everyone the new way. You're good, don't worry. Jawed says, "Do you have a money management system? Can you advise me what would be a good way to manage my money while getting started in business?" Yeah. It is to spend as little as humanly possible and to make as much as humanly possible. That is the system. Keep your personal life simple. Don't blow all this money on ridiculous shit. That's not a good idea that ends people. Keep your personal life real simple and then keep your business costs down and always watch every dollar. Then try make as much as possible. That's really it. Then I think where most people break down is they don't keep good records of things. Look in week six. There's one called cash flow and finance mastery in week six. I literally teach you the system that I use for managing money and doing finances. It's mostly about good discipline, good principles, and then good financial tracking and record-keeping and you're good. Justin Adkin says, "Is there a way we can look to some successful strategy sessions?" Yes. I did some a couple of weeks ago. I have recorded them. I've got pals are listening to them. If none of those ones are any good for you guys to listen to, then I'm going to be doing some myself at some stage anyway. Because one of the next iterations we're making consulting accelerator is to try and put it some more real-life examples. I'm doing the customer interviews where I interview people and they tell us what they did to get where they are, but I'm going to do some where, I'm even going to pick a random niche out of a hat and then just find a problem in that niche and invalidate it and show you how to do it. Like how do you, you'll watch me live find a random niche, and then you have to find a problem with it, come up with an offer, and then get some customers. That's something I'm looking forward to doing once I have the time to do it, which will be soon. I'll be adding that in. Melvin said, "Hi, Sam. Is having multiple streams of income on the way to 6 to 7 income a myth?" I think what you mean is having multiple streams of income necessary to make six or seven figures? First of all, you should not need multiple streams of income to make six figures. That is silly. You only need one stream of income to make six figures. You only need one stream of income to make a million dollars. Shit, I've only got one stream of income to make $20 million a year. This is where people, it's just a saying. I swear someone said, "If you want to be rich you've got to have multiple streams of income." Then people are like, "Oh, yeah, that sounds smart." Then they just started saying the same shit. It's not very specific. It's more of a saying. Like most of the sales aren't closed on the first call, they're closed on the follow-up. Bull shit. I figured out a way to do sales without doing follow-up. I make more sales than the people who do the follow-up, so that one's wrong. That's why I said people who say sales is about the follow-up is stupid. Why follow up? Figure out a way to sell them on the first call, and then forget about following up. Just like this multiple streams of income crap. Jeff Bezos is the richest man in the world. He has one company, Amazon. One single stream of income. But this is where this is saying is stupid because within Amazon, there is a gazillion different income streams. Even though Amazon is one income stream, it has tons of income streams within it. Even though I have one company, consulting.com, you can say I only have one income stream. Within that there's a lot of different income streams. Because we advertise on different channels, and we even advertise across different ad accounts. We even advertise as Sam Ovens in his consulting.com. We get clients through lots of different channels. Really we are quite diversified within the one company. If Facebook shut down, it wouldn't really hurt me that much. My sales might drop 20%, but then we'd able to fix it within a month. I'm not that harmed at all. Yeah, if my whole company failed, then I'm in trouble. So would Jeff Bezos, so would Steve Jobs, so would Warren Buffett. If Berkshire Hathaway failed, he's screwed. Berkshire Hathaway within it owns hundreds of companies. This is where this whole one stream of income thing is just stupid. Because people just immediately think that means multiple businesses. That's dumb. You want to stick to one business and then one product and then one way of doing it until you can exploit that one thing as far as it can possibly go. It's like that saying also, don't put all of your eggs in one basket. That's a stupid one as well. Because a lot of people put their eggs in so many different baskets that they don't really have any eggs in any baskets. It's worse to have zero eggs in zero baskets than it is to have all of them in one. The beauty of having them all in one is that you can really protect that one and you know what's going on all the time. Just never get, these are sayings. They're like little sentences. Never let one sentence, generally when people repeat a one sentence saying they don't have the capacity to actually analyze it and dig deeper and realize that it's not really, doesn't mean anything. I think that's what you're trying to say is do you really need multiple income streams to make six or seven figures? You don't. You don't need them at all. You can do it with one, and you're better to do it with one. Steve says to find the owner of the website, and there's not, to find the owner of a website and there's not a simpler way, look them up in the WHOIS registry. You can usually find them in an email. Yeah, so I think Steve, whoever asked the question before about how would I find the owner of the website. Steve has answered your question too. You can try the WHOIS registry. Ely says I'm a digital marketer for a copier dealer, and I'm trying to generate leads for the copier dealer across the US. All the office looking to purchase all these copiers. It seems that I can't generate leads through Facebook or AdWords. Yeah, so the thing is that it seems that way. Before you said that it was impossible. It's not impossible. You just haven't figured out how to do it yet. You know, nothing, we never know that something is impossible. All we know is that we don't know how to do it. Never term something as impossible. It's just that we can't. Then that means that we should either keep trying or we should change tact and try something else. It depends what you've tried, dude. How long you've tried for, how many different things you've tried, and how much of your energy and your concentration and your focus and your dedication have you poured into this thing and tried to figure out how to make it work before you were saying that I can't, I don't know how to do it. Because to crack it, it might take a lot of effort and a lot of attention. I need to know more detail. Tell me how long have you've been trying to do it, what you've tried, how much money you've spent, and then what method you're trying to use. Are you trying to, what are you advertising on your ads? Then are you trying to, there's so much info I need here to really help you with this. Justin Adkin says, "Should I join up level consulting to learn how to build a course if my customers are wanting to also learn how to build a course? My niche is software channel partners that have years of experience and are looking to leverage that and have more time for family." I mean, if you want to learn how to build a course and if you want to go from Done For You in one-on-one to group coaching and courses, then yeah. Up level is that program. I can't say whether it's a good fit for you or not based off what you've told me because there's not enough info there. What I recommend, Justin, is just shoot me a PM on Facebook. Just shoot me a private message. Then tell me a little bit more about what you do. Then I can answer it later. Locke says, "Sam, I used to be a stock trader when I was in grad school. I did really well doubling the S&P, and I found that the key for long-term success was being able to stick to a strategy, not getting caught up in emotion. I think this would be a good niche for me to help. I want to take the new age model of emotional mastery to this niche. I'm thinking I help traders on their motion to make smarter decisions and stick to their strategy so that they can make more money in this time. What do you think of this message?" I think that it's a good one. I mean, mastery of your emotions and your, mastery of yourself is very critical in trading. You see it on that billions show. They've got, X Capital even has that lady who's like the full-time psychologist for them. I did some research on that afterwards because I was interested in it. It turns out that a lot of hedge funds and a lot of, a lot of hedge funds actually have full-time psychologists in the hedge funds, like with their own private office. If ever any of the traders are having issues, they can go and meet with the psychologist. It's actually a thing. I know the need's there because it already exists in the hedge fund world, and they compete very hard against each other to get the best psychologists. Now, if you're helping traders that aren't in the best hedge funds and don't have access to the best psychologists, then yeah, it could be a good niche. I would do some research into it. I like it. I know that the need exists and I know there's money in there and I know that it is a thing. That I can tell you as a fact, because I looked it up and researched it. Caro says, "Hi Sam, my niche is manual with therapists and getting them clients with Facebook ads. I have not started the ads yet. When I ask them, the manual therapists can not tell me what their ideal client avatar looks like. So I could get really broad with the ads, or do I have to find a niche and avatar amongst their clients and them generate a proof of concept with them before I start the Facebook ads, and they can work?" Yeah. This is a great question because I know what you're talking about here even though you're not really saying it. When you're working with anybody and you try to get them to ask you, if you ask them a question that they don't know how to answer it, it doesn't mean that they don't know how to answer it. It just means that the way you asked the question, they couldn't answer it in that way. You've got to remember that. Never abandon ship and think, oh, they don't know. Therefore we're screwed. Or I have to change tact. You just have to go at it at a different angle to try and get the information out of their brain. Because they will have a client avatar. It's impossible to have clients, multiple clients and not have a client avatar. Even if a person doesn't think they have a client avatar, they will. There will be attributes that link their clients together that they just can't see. That always exists. There is actual attributes in there, but they can't see them and they're not aware of them. That's one thing you've got to understand is when you ask someone a question, they have to be aware of it to answer it. If they're not aware of it, they can't answer it, so you've got to help them become aware of it so that you can answer it, right? I would get them to tell you, this is what I would do if I was in your situation. I would get them to tell you what their last few clients were like. Let's go to the last client you just saw. Tell me about them. Take some notes. All right, now what about the one before? Now what about the one before? Now what about the one before? Tell me about the best clients you've ever had. What did they do? Tell me about the worst clients you've ever had. All right, what did they do? You'll start to spot the things that link them together. Perfect example is Andrew Argue. When he joined with me a while ago, he told me that he didn't know what his niche was and that he had a mix of all sorts of clients. He had a software company, he had an accountant, he had general trade businesses and different types of businesses. He truly thought that he had no niche and it was just a mix. I got him to start telling me. All right, how many clients have you got? I think he had 12 or something back then. I got him to list all 12. Then when I saw all 12 I was like, dude, it's accountants. Look, you've got more accountant than you do any other type. Plus the software company you're dealing with is a software company for accountants. In some way, shape, or form, all of these businesses that link to accounting, or you found them through your network of accountants. By the way, also you're an accountant and your wife's an accountant. How could you not see that one? He didn't know how to answer it because he wasn't aware of it until we saw it. Then he was aware of it. The best way to do it is just get specific. Just get them to tell you about specific clients, and then you'll start to spot the patterns. You really need to know who you're targeting before you do ads. Otherwise your ads just won't cut through. They'll be too vague and too broad that they won't strike nerves with people and they won't get any attention and no clicks. Sean says, "Hi Sam, so my niche is helping doctors get more patients for their practices. I am torn between which service to offer them. You think I can help them more patients with SEO or Facebook ads"? This one is simple. It'll be Facebook ads. Because in order to get some clients with SEO, you have to be amazingly good at SEO. If you were amazingly good at SEO, then you wouldn't ask that question. I'm guessing that you're not a weapon when it comes to SEO, and therefore if you're not a weapon with it, use Facebook. Because you can pick up Facebook and master it and get people results with it way quicker than you can SEO. SEO is complex and you need to be a real ninja added to pull it off, and it's a long-term thing. Facebook is totally different. Go with Facebook. However, don't write off AdWords, in saying that. AdWords could be good. What you really need to do is look at, who are the captains of industry in your niche? You're helping doctors. Now, that's very vague. You might be helping a special type of doctor. I would ask, I would identify who are the kings of your industry? Who are the businesses that everyone looks up to and is like, man, that guy run a bad ass organization. That guy is crushing it. There's always those people. Find out who they are and then watch what they're doing. Then chances are you're going to help other people do what they're doing. That's what it'll be. I'm guessing it ain't going to be SEO. Even if those guys are doing SEO doesn't mean you should necessarily do it because you don't know how to do it. I'd still go with Facebook or AdWords. Don't write off AdWords. AdWords can be powerful. Danny says targeting business owners, and although my CPC is great, my landing page is not getting conversions to leads. Thoughts? I need numbers and I need the landing page link. Tell me how many clicks you've had, link clicks. How many of those. Tell me how many people opted in. If you give me those two numbers, then I'll know what the landing page conversion rate is. Then show me the landing page. Then I can give you an answer then. Matt Wiseman says, "Do you think there is a demand from people who own online courses for data scientists who can find insights about their audience? You mentioned earlier your data scientists looked into a niche trends and found a pattern in bringing new technology to an old [inaudible 01:05:56]." I don't think that's a widespread need. Most course owners don't have enough course customers to analyze the data to begin with. Most of them don't really care, to be honest. I would say that's probably not a good niche. There would be other industries that are demanding data scientists more than course marketers. Because course marketers are notorious for delivering shitty courses and not really improving them and not really giving a shit about anyone once they buy it. That's kind of what most course owners behave like. It's kind of sad, but it's true. That's what it's like. They're not likely to invest more money into insights and improvements. They're more likely to just invest more money into cars or themself or making more money so that they can get more money themself. I know this market well because I'm in it. That's probably not what they want to do. I want to do it, but I know I'm not representative of most people in my market. I'm looking at Danny's landing page. Take back your profits. Ever wonder why Debit and credit card processing fees ... yeah. I'm looking at this. Sorry, I can't show you guys this because I'm just looking at a landing page on my screen. All all right. It looks like you are doing point-of-sale, like point-of-sale merchant processing consulting. Yeah, the page is too, it's not clear enough. It took a good minute or two minutes to actually figure out what you're doing. I would probably put more effort into that and be able to do it faster than most other people would. Because I analyze a lot of these things. Chances are they're not even arriving at the point when they figure out what you're doing. It's not clear enough. Your headline says, "Take back your profits. Ever wonder why debit and card processing fees are so complex?" I mean, make it way more simple. I would say how to save at least 35 to 45% on your merchant processing fees immediately through whatever the sort of thing that you do is. By price shopping your merchant rate or by these methods, whatever it is. You need to talk about it like a clear benefit if you really do know how to consult these businesses on how to save a decent chunk of money on their merchant processing fees. Because I'm thinking about, I'm putting myself in their shoes. I pay Stripe lots of money in merchant processing fees, hundreds of thousands of dollars. If I saw a headline and it was like, attention Stripe customers, do you know that you could save 35% or 50% on your merchant processing fees immediately by switching to this provider? You've got my attention. I'm looking. I'll be interested. Figure out what that number is that you can save the average business in fees and make it dead clear. Remove all the other stuff from around it which doesn't talk about anything that's necessary. Just make it so clear that a 4-year-old in two seconds could understand it. Kenneth says, "Good afternoon, Sam. Hope all is well. I'm really trying to scale but I realize that I require help due to my demand for my job and family. Any recommendations? Low cost of rent." Yeah. If you have a job and you have a business, then there's no way to scale the business really until you get rid of the job. You've got to get rid of the job. You can't get rid of the family, so that one's going to stay. There's only one other thing that you can get rid of. You've got three things going. I'd get rid of the job. If you say to me, "I can't get rid of the job because I'm not making enough money." Then you've got to get the business to the point where it's making the same or more than the job. That's what you've got to do. You might have to sacrifice a little bit of sleep. You might have to work on the weekends. You might have to hustle real hard until you do that, but the only way you're going to really scale is by getting rid of that job. Yeah, so Danny, yeah. You gave me a link. I already gave you my answer. It's too vague. Also, you've got too many, you're asking for too many fields. You're asking for business type, email, first name, phone number. Too much. Just ask them for their email address. Look at the templates I include in the training. Look at the video, I think it's week four, assembling the war machine. Go and check that out. Use the methods I teach you how to use. Because you didn't do what I said to do in the program. The landing page doesn't look like it should. Marco says, "For sure thank you. I am helping commercial real estate brokers bringing reform to an old way of doing business. Mainly through digital marketing and some systemization. Some say they're interested but they often make decent money, mid-six figures, and can easily hire people for free on commission. They don't know what they don't know. I have proof of results and almost reached proof of concept with clients. I'm guessing the messaging might just be off." Okay, so now I've got data. Now I've got info. What's the problem? I'm just trying to remember what you said before that they're not interested or you feel like they're not interested in going to the new way. Now you've given me some info here and you have proof of results and almost reached proof of concept with clients. Yeah. I mean, what's always going to happen is that a lot of people aren't really going to take you seriously until you've got results that they can't ignore. Now, that doesn't mean there there's nothing you can do. You've just got to go for the easier clients first. Everyone kind of starts at the same place and they've got to get their easier clients first before they can chip their way up to the top. Because if someone is, once they start noticing it from their competitors and they know that you're that guy doing that, dude, they'll be calling you and begging you. If people turn you down, that's fine. Just think, screw it. I'll work for his enemy then. Trust me, when you make someone's enemy more powerful than them, they'll come crying to you. Just focus on that. Focus on helping your clients demolish people who aren't your clients. Then the people who aren't your clients are going to cry and then want to give you money. Just think about it like that. Understand, not everyone's going to take you seriously until they have to. The best way to get attention is for them to come to you, and the way that they're going to come to you is when they have to. Just focus on keeping on adding clients, keep getting the results, keep documenting it, keep making their businesses better and working your way up, working your way up. Things will start to change for you. That's right, Mitch. You can't Nick Cosman. Sam, I recently did a ton with your 8020 power grid. In my situation, alcohol plus any type of debauchery is -1000 per hour because of second and third order outcomes. That stuff needs a whole new column in my opinion. I run a sales team, and my biggest enemies are rips, drinking, and being hunk over. May be true for others. It depends if you're talking about yourself first. Sure, with yourself it's going to be huge. Drinking alcohol and partying is so destructive that I just chose to not do it at all. Generally something has to be pretty extreme for me to completely ax it. Like the whole thing gone. I haven't been drunk for three years. No joking. Haven't been drunk for two years. Haven't had a hangover for three years. I've probably had one or two beers in the last year. I still have a drink, like at a special occasion or something, but I just don't get drunk. That changed everything for me. When I stopped drinking and I moved countries, I had the biggest growth spike in my life. It was like an explosion. Yeah, first of all with yourself, don't do it. I know most billionaires, they don't drink at all. Just nothing because it's really kind of hard for them to rationalize that. Their time is so valuable. Why would they spend it doing that? Plus if they make a mistake, they can be ruined. They want to limit every possible chance of them making a mistake, which the first one would be not being drunk. Then also they know that it's bad for their health and they want their health to be good, so why would they do it? Usually alcohol is used as escapism from a life that people don't like. When you have a life that you love, you don't need to escape from it. That's like, I find you get the more successful you get, the less you need to be drunk because you like it. No need to escape. First of all, do that yourself. Don't quit drinking. Stop it completely. You'll have way more fun and you'll make more money and life will be way better. Then for your sales reps, that's another thing. I mean, if you do it first and you set the standard, then yeah. They'll probably, then you're in a much better position to convince them. You can never convince people to do something that you are still breaking the rule on yourself. That's like one of the best principles for teaching people, like when training programs and stuff is to actually practice what you preach and to lead with examples and actions rather than what you say. People are more influenced by what you do rather than what you say. If your sales reps notice you stop doing this and they notice your life getting better and all of this, then they're probably going to notice it. Then you can start telling them, "Hey, you guys should do this too." Like I'm doing to you, then you'll do to them. Because it's just like the mirror, right? However you run the business is how your employees will behave. It all works like this. You set the standard and you set the example. Then once you have fixed it yourself, tell them to stop. Give them enough chances to stop it. If they keep breaking it, just get rid of them. Fire them. There's so many people who can sell stuff in this world that you don't need to put up with people behaving like that. Cut them. Find another one. Thomas says, "Hey Sam, I know you'll tell me not to obsess and overanalyze before doing 30 strategy session." I probably know how this one's going to go. Yet I had one close and almost, yet I had one close and almost always the only very honest and real objections why people would not buy is having not enough money. Any tips on how to detect more affluent prospects by checking their Facebook profiles? Dude, it's practice. It's all practice. It's not that they don't have enough money. That is what they're telling you. Anyone can find the money. People mess this one up. They think, "What if the person actually doesn't have enough money?" Yeah, but people can borrow money. People can use credit cards. People can do all sorts of stuff. People will find the money if they need it. If they tell you, "I don't have enough money." Probably what they're trying to say is I just don't see the value in it. If you haven't done 30 strategy sessions, then you need to do way more than that. You'll get good once you've done 100, 200, 300. You'll turn into an assassin when you've done 1000, and you'll be real good when you've done 3000. Just keep doing them. I used to believe that people didn't have money either when I had done less than 30 strategy sessions. Now after I've done thousands, then I know it's not like that. Edward says, "Sam, following up on the learning question. How do we go about implementing the non-tangible stuff like what we learn about, what we will learn such as mindset tweaks?" Mindset stuff is not tangible. How you practice the mindset stuff is tangible. Let's say you learn about the mirror. That's a concept. That's an abstraction. Then we use mirror to identify behaviors that we do that is mirrored. So we might not be fully committed to our business. Because we're not fully committed to our business, we're not fully committed to our niche, then none of our other, none of our clients seem to be committed to us. Or because I can't get people to invest in me, it's because I don't invest in myself. You're using this concept to identify things that actually exist. Then once you've identified the things that exist, you've got to decide, "Okay, I'm going to stop doing that or I'm going to do more of that." Now you can measure yourself. You've actually implemented mindset stuff if you change your behavior over a long period of time. Behavior versus time is the measurement for the mindset principles being applied. Mindset stuff is super easy to apply and super easy to measure. It's all about behavior versus time. Has your behavior changed? If it has, then things are changing. Other good things to measure mindset is like if you say you're going to wake up at this time and go to bed at this time and you've done that for 30 days, 60 days, 90 days straight, okay. Now we're starting to your mindset's changed. If you say you're going to eat healthy or you're going to do this, did you do it? Did you do what you said you were going to do? Did you do what you promised yourself you were going to do over a long period of time? If you did, then you're implementing mindset stuff and you're learning it. You're learning more about mindset than you could from any book because you're actually living it. Mark Gilday says, and this is a good one because some people ask me how do you, like how do people believe that you know how to teach them how to do business? Because you dropped out of uni, university or college. You never really got any good grades and you don't have any certificates or any degrees or anything. You can become Facebook qualified. I'm not even Facebook qualified. I'm not AdWords qualified. I'm not qualified in anything. I literally have zero them. A lot of people think, how were you able to do it? It's because I did it. That's a better teacher than anything. Then with the mindset stuff, I'm not a psychologist. I didn't go to, I didn't study psychology at university. I read books on psychology and then I've tried to change my own psychology. The books taught me some stuff, but nothing is a better teacher than doing it to yourself. You've got to think about it as like you're a scientist and your subject is yourself. You're trying to experiment on yourself. If you can master it, then you'll have learned. Mark Gilday says, "Hey Sam, the subject of money and how you use your core for cash flow, will you consider doing a training way video on how you deal with money through your business?" I honestly don't know how much of a need there is. I mean, the main thing is that you probably, when you're just getting started you're fine with an LLC. Then once you're making six figures or more, then you probably want to elect to tax your LLC as a corporation. Any accountant will help you do that. Because then you can leave your money in the business instead of taking it into your own name. Pretty much the name of the game in business is to make as much as you can, spend as little as you can within the company, and then spend the absolutely nothing on your personal life, zero. In that book made in America, Sam Walton was pretty much a billionaire. He still refused to pay for motels. When him and his executive team went to another city, if they had to pay for motels he wouldn't do it. He'd just make them all sleep on the floor of someone he knew who lived in that town. No joking. That didn't mean that he was tight when it came to the right investments in his company. Within the business he wouldn't, if something was necessary he would invest in it. He always kept his personal life cheap. Because the name of the game is to keep the money in the business and reinvesting it in the business and keep your personal life small and simple. Like those people that you see that are on the Internet where they have the inverse of that. They have the most luxury and demanding lifestyles ever, like multiple cars, private jets, all this crap. Huge houses, all of this fancy stuff. Then the business is neglected over here. It's really got nothing in it. That never lasts long. Those things collapse fast. I've seen them collapse in front of my eyes over the years and I continue too see them collapse in front of me. They all end up dying, all of them. The funny thing is in the book Made in America, Sam Walton talks about the same thing. He says when the discounting store industry was young, there were these people who he called promoters. The promoters were the ones that were on TV and they were the fancy ones that had big houses and Cadillacs and stuff. He said they were hot at the beginning, but then once the market became more competitive, wiped out. None of them left. That's what happens everywhere. Anyone who behaves like that will always end up paying for it. The name of the game is keep personal life cheap. Leave the money in the business. Only pay corporate tax which is cheaper than personal income tax so that you save on that. If possible, reinvest the money within the business so that you're reducing your tax liability so that you can therefore reduce your tax as well. Just keep reinvesting the money in. What a lot of people I see do is they make money in their business and then they take it straight out into their personal name. They lose half the money by doing that through taxes. Then their business dies because they don't have any money to invest in their business. It's so stupid. It makes no sense. Sterling says, "Hey Sam, my niche before I started consulting accelerator in 2016 was in helping government-funded neuroscience labs do brain research using ultrasound brain stimulation technology. I was running a hardware company and selling the ultrasound devices to researchers. I raised venture capital money and all that, but I had to hold operations because federal government stopped funding all of the research in that area. I went back to sales marketing, which is what they did before managing the company. Managing the ultrasound company now that market is catching up and people asking to come back to do ultrasound." "I'm very torn. I want to do it but I don't really want to manage a hardware company like that again. Do you know of any consultants that were able to drop their hardware division and go into consulting in the same market? My former research partners are reporting the ultrasound is having a profound effect on people who meditate. New insights every month from the community. That makes sense. You just have to make a decision. You obviously have way more information on this than I do from this little snippet because you did it and this is your life. You have to do just the pro-cons. Just write down the pros, write down the cons. Just analyze it and then make a decision and then just get it done with. It's either know and forget about it or it's yes and let's do it. Just stop sitting in this limbo state in between. You're in the end decision state. You never want to be there. You should only be there for very small moments of time, and then you decide to commit, do. Just always think decide, commit, do. You're stuck in the middle right now and you're wavering. That means you can't do any one thing well. You're not doing this or this, which is the worst case. You need to analyze it and make a decision and stick, commit. The decision can be made now. It can take 20 minutes to do the pro-con analysis. All I can say from reading this is I wouldn't listen to people's opinions. Like if other people in that industry are telling how some things, like your former research partners, your former research partners have a bias. The want to see that ultrasound is having a profound affect. Always be careful of what people want to see and claim that they are seeing. Because there's a high chance that they're making it up. Not saying they're lying, but they've convinced themself of it so they think it's true but it might not be. Cut them out because they're biased and just go in to the people and see if it actually is. Go to the patients. Find patients and talk to them and see, just get the proof. Treat it like a legal case, as if it's like life or death. You need to get the facts. You need to make a judgment. You know what I mean? Don't trust these people's opinions. You need to see the front lines of this thing instead of someone's opinion about what's happening on the front lines. It's dangerous stuff to trust someone's opinion. It's just like with Facebook ads and stuff, people always post things and they're worried about things. Oh, so and so is saying that this happened to Facebook or this person's telling me that Facebook is going to end or this person's telling me that chat bot ads are the right thing to do. There's all of these opinions out there. I just want to see what's going on. I find the people who are running the chat bots and I go and get them on a call and I'm like, "Show me the numbers. Let's see." They're not there. The numbers aren't there. The tech's cool but no one can show me the numbers. No one can show me the facts. The facts aren't there. Therefore, who cares about the fancy tech? I'll be entertained when the facts exist. You've got to not listen to their opinions. Go in and look with your own eyes at the people. Donald Dang is how do you counter the sunk, you said sink cost fallacy, I think you mean sunk cost fallacy. I'm having trouble letting go to school because of all the time of money I put into it. This one is so good. You're right, this is what it's called, sunk costs. A lot of people think if you've already put in two or three years of your time and if you've already put in 80 grand of your money, then you may as well finish. Because it's only another 20 grand and it's only another year. Never, ever, ever look at things like that. That's the dumbest thing ever. Isolate what happened in the past because that's done. Forget about it. You just have to look at what's ahead. Forget about the costs that have already been sunk. That's like America in a war and they've been there for like 10 years and it's not working. They've got all the facts, but it's not a good idea. It they've wasted so much money, lots of people have died. They're like, we may as well keep doing it because we've already spent all this money. We've already been there for so long. It's stupid. Never, ever, ever, you think that's the way to think. That's not the way you should think at all. If you have to change, you have to change immediately because it's about the future, not the past. Jeff Bezos talks about this a lot too in his letters to shareholders, which is how you know you shouldn't think like this, the sunk cost thing. You should think like it. Because he says we aren't attached to the products we sell and the things that we do at Amazon. Like the only thing we're attached to is satisfying customer's needs. Truthfully if those customer needs change, then we'll let go of everything. We'll go of the whole of Amazon if we have to. Because the only thing that matters is satisfying those customer's needs. That's the same with me. If consulting.com, all of a sudden customer's needs changed and I had to let go of it and switch to something else, I would do it in a heartbeat. Because that's what I have to do to win. The other way of thinking is stupid. It's like, we've already been doing it for so long so we might as well keep it. That's how customers companies go bankrupt. That's how people die. That's how all dumb things happen. Just honestly, I remember when I dropped out of college. I can tell you exactly what was happening. I had two papers left. I had done four years and I had two papers. I remember, I asked around because we have this one thing called an elective paper. You can choose any paper and it counts as credits or something. I asked around like oh, what's the easiest paper to take? Because I don't want to have to do anything hard. People told me it was some paper on the study of birds or something. Not joking. I enrolled in this paper. I didn't go to any of the lectures. Then it came towards the exam time. I had already kind of started thinking about starting my own business. I was sitting in the library at the University and I was trying to study, I was trying to focus all my attention onto this textbook about seagulls and pigeons and things trying to memorize all of these things about birds so that I could pass some paper which was totally irrelevant to anything. I couldn't focus on it because I kept thinking about business. I was like, my mind would keep going back and thinking, I want to watch business videos or I want to read business books. I want to actually study real things instead of these damn birds. Because what hell use is knowing stuff about these birds? I kept fighting myself for a six hour study day. Then I just in a moment, I just sat there and I was like, you know what, fuck it. I'm just going to quit. Then I get to go all in on these entrepreneur books. I don't have to worry about these damn birds. From that moment onwards was the most, my life got so much better. After it I was just like, fuck it, I'm out. It was like the best thing in the world. If you're torn between real-life stuff and studying fucking birds, it's obvious what you need to do. I don't ever regret staying in that library and learning about those birds, I can tell you that. All right, Marcella says, "Where will the recordings be saved for your strategy session and the niche problem solution we performed?" I don't know yet. I'll update everyone. If I make an update like that, I'll post in the Facebook group and send out an email and stuff. Don't worry about it. That thing I just told you about, that study thing just got so many of those likes. You saw how many likes came across when you asked when I told that story, Donald. I think you know what to do. I think University is a good thing to do if you don't have any motivation to do anything and you don't know what you want to do. Because sure, it's better to be learning about some birds and some artificial business stuff than it is to be staying at home smoking and playing Xbox and PlayStation. It's probably better to just be learning about anything even if it's useless than to be doing that. That's why college is good. If you're going to compare college to just staying at home smoking weed and playing Xbox, great. If you're going to compare college to starting a real business, start a real business. Rob says, "Sam or anyone, I would like to take on contractors to do some Done For You work. Do you have any advice for cross-border payment systems instead of PayPal?" PayPal is pretty good, honestly. Because you've got the protection thing in it. Otherwise, bank wire. We have to send payments internationally all the time because we've got a, our headquarters for consulting.com is in Ireland. We do bank wires all the time. You could just set everyone up as a bank wire payment. We have to pay people in Egypt and Sri Lanka. We have to pay people all over the world. We do it through bank wires. Anna says, "Hey Sam, I just joined the program and I'm trying to select a niche. As one of possible niches, I consider local governments, city administrators, I have in mind a great idea for them. My concern is whether they could be slow and bureaucratic so it could be difficult to get them to subscribe and pay. Do you have any view on this, and how to check if this is going to work?" Just try and sell it to them. You may as well just test it. The amount of time it would take to think about it and analyze it and not come up with an answer, in a day you could get an answer. I just found out who's the main person, what's their phone number? Call them up. They work in the government so they're probably bored shitless. They're probably going to love your call. Then just call them up, pitch them what you're thinking, and see what they say. Then if they're kind of interested, then start pushing them. Be like, all right, what's the next step from here? Then they can tell you and say, "All right. Honestly in your opinion, do you really that this will go through? Do you think that the government is going to buy this?" If they say yeah, then now get a timeline. All right, honestly, how soon do you reckon they can make a decision on it? Find someone and pitch them and pin them down and get the answer. You can get an answer so fast that there's no point in thinking about it. I'm not going to give you my opinion because that's stupid. All I tell you to do on a lot of these calls is don't listen to people's opinions. That's why I don't give mine. I just tell you go and talk to the actual person. Find out. Because that's the answer. Marcy says I'm running ads that are in KPI for six days. Duplicated blue swans, and all are still in KPI. Only one no-show registration. My ads are getting likes and shares and my CTR is 81, .81%. Video conversion rate is 20%. I have between 10 and 26 links on the ads. How many clicks do I need to get to fully tested? .81 is an all right CTR. As close to one as possible is good or above one is great. .91 is fine. That one's fine. Then VCR conversion rate is 20%. I think what you're saying there is your landing page conversion rate, or otherwise if that is your video conversion rate, then you didn't tell me what your landing page rate is. The main thing here is that you had 26 link clicks, and you really need or than that. You need 100 or more to tell what's going on. Niche question. The niche I want to do, I don't have the skills or money yet consider consulting in that niche. There's a bit of learning curve to learn such niche. Should I continue in my current niche, digital marketing, get some money, and then learn my desired niche or the background, or ditch DM, get over the learning curve, and do my desired niche? What is it? Tell me what it is. I wish there was a way for people to just comment on this because I'm not going to be able to see Donald's niche. Donald Dang, just private message me what it is so I can actually just see what it is immediately and just answer your question right now. Because otherwise, chances are I'll get to the end of this thing and I still won't have seen your response. Just shoot me a private message so I can do this. I want to solve because you've been stuck in this limbo state for forever. I keep seeing your posts. Should I stay at school, should I quit, should I stay at school. We've got to get this solved. Donald Dang, make sure you send me what your niche is. Still haven't seen Donald Dang's niche. Send it to me in a message. As soon as I get that message, I'll help you out. All right, next one. We're going to go for 11 more minutes until we get to 5 PM. All right, Sims says, "Hi Sam, what's your meditation regime? Do you use a guided meditation? If so, which one?" Mine's real simple. I just sit on a little chair, like I sit on the edge of the chair. I don't even have a special pillow or anything. Then I close my eyes and then I just breathe through my nose and I tried to just feel the breath on the skin coming into my nose. I just tried to breathe in and out through my nose and I try to focus solely on the breath. I don't think about anything at all, nothing. I don't have any headphones in. I don't follow any guided thing. I just do that, that's it. 20 minutes, done. Simple. I don't need a pillow, I don't need headphones. I don't need some weird crap. That's all you need to do. That's all meditation is, doing nothing. It doesn't make much sense to add something to a practice where you're supposed to be doing nothing. It's the whole discipline behind meditation. People have gone and made it all complicated. People are stressing out about what meditation to do, which is pretty messed up. Just sit down, don't think about anything. Done, that's it. Maya Kelti says, "With everything that has happened with Facebook and its scandal, what does that mean for Facebook and its messenger?" See, this is what I was talking about. I was just talking about this and then we got one of these questions. It doesn't mean anything. It means nothing. If you want to see something funny actually, look at the, there's some YouTube videos of video footage of Mark Zuckerberg going to this government place and having to testify saying some stuff. It's the most hilarious thing you'll ever see in your life. It's actually gone viral about how funny it is. The reason why it's so funny is because these government officials have just no idea what they're talking about. They're so, it's honestly unbelievable that could be real. These people have no idea what they're doing. All of this news and all of this ruckus has been caused by a bunch of bureaucratic political people who are mindless and know nothing and they've kicked up all of this fuss. Really nothing even happened. It's so, you've got to go watch that YouTube video. You'll crack up. Mark Zuckerberg is laughing as he answers a lot of the questions. One of the questions some senator dude asks is, "How does Facebook sustain its business model if you don't charge customers to use Facebook?" He's deadly serious. Like, unbelievable. Maybe a senator at a huge public law thing, legal thing like that, surely maybe maybe a senator would do a bit of research. Maybe he'd google it, how does Facebook make money, and find out. No, this is how dumb people are in the government. It's nothing to worry about at all. I can't believe that dude didn't think to google that one before maybe showing up. He thought that he had really done Facebook by asking that question too. He thought it was like a dagger to the heart. He thought it was like a big fraud or something because it didn't charge its users money. This is what I'm saying also about never believing people's opinions and just going to the source and finding out what the reality is. Because as soon as I saw people crying and kicking up all of this fuss on Facebook and on the news about this Cambridge Analytica crap, the first thing I did was I went to Cambridge Analytica's website and I opted in and did the test on myself. I just want, I'm going to go do this. Then I started doing all of the research. Then I figured out exactly what happened. Then I knew that nothing had really, no laws were being broken. Then I knew the facts. It didn't matter what anyone's opinion was. Just always get the facts every single time. All right. A few more questions here. Joshua Wistover, Hey Sam. I was just wondering why don't Facebook themselves teach you how to use their advertising platform to the level of depth that you do? Is it because they don't understand this way themselves? Would be interested in your thoughts on this. That's a good question. The reason why is because Facebook and a lot of these advertising companies, they provide you with the platform where you can use a bunch of features and use a bunch of things to create an infinite amount of different strategies and things. What they really allow is something called emergence to happen. Emergence is when you create a platform and then you let people come into it, and they use different things and they create an infinite variety of different thing. You know, Facebook, there i lots of people using Facebook in lots of different ways. Facebook doesn't want to tell people to all use one way because that would be silly. That would be not allowing the emergence to happen. A perfect example in my case is you'll notice with consulting accelerator, I don't tell people what niche to pick. I tell you to come up with your own niche. Because if I forced a niche upon everybody, it wouldn't work. I let emergence happen. I let complex, unique behavior rise from a simple framework. That's what all good businesses do. They don't pen people down on specific things. Imagine if Facebook told the whole world to use this one damn funnel and this one type of ad. It would be horrific. They can't let that happen. What also is there's bound to be a better way of using Facebook than what I'm currently doing it. I haven't seen it yet but there has to be. There's always a better way of doing everything. That's also why Facebook doesn't want to pin everyone down and say this is the one thing to do, because they want to let that innovation happen. They want to let people find things. Also, it's like the app, like the iOS iPhone. They don't tell everyone to build this app. They give you the App Store and they let developers come and build whatever the hell they want. Emergence happens. That's what's Facebook's doing. They've got an ecosystem and they let everyone else come into the ecosystem and find out what to do and all of that. That's why they don't do it. It's a good question. That is the answer. Thomas says, "Sam, I have good and consistent content, many likes, up to 60 likes and even many shares on my private Facebook profile. Still, I only get a few strategy sessions in a week. Not on a daily basis, which is my goal. What could be the reason? I also do much direct outreach, at least 30 a day. Any tips?" Yeah, you want to, likes and comments are not an indicator of money, ever. Honestly, sometimes the posts that I do get the least comments and the least amount of likes get the most sales. There is pretty zero correlation between likes, comments, and sales. Likes is like, I can get more likes posting a picture of me and my cat and making it say me and my cat. That'll get me, go look at my public Facebook page, Sam Ovens, scroll down until you find the one that's had the most likes and the most comments in the last two weeks. It's a picture of me and my cat. That doesn't mean that that's what I should be posting all the time. Don't ever get fooled by that metric. Don't be blinded by it. Don't even look at it, really. The only metric that counts is sales. The way to do that is to get customers. What I think you need to do is focus more on reaching out to people, adding them as friends and sending them direct messages on this book, then content. Still do the content because it stirs the pot with everybody. Go into Facebook groups, find people in your niche, add them as a friend. Then once they accept your friend request, send them a direct message. Don't wait for them to come to you and don't wait for them to read your content and then maybe be impressed and maybe be impressed enough to message you. It's not going to happen. Just strike. Send them a message. If you didn't watch the full livestream from last Saturday, go and watch that right now because in that one I explained this process in detail. I fully explain how to do it step by step. Go watch that one if you didn't see it. All right, Corrin Robinson. Hey Sam, I already have a business registered and a website set up. It's quite a generic name, select office support. I'm wondering if it is okay to use for my consultancy business? I offer customer service and reputation management to UK energy supplies. Sure. I mean, the business name doesn't really matter that much unless it's totally different. Like maybe if you were a bank and your company name was like a pet food company or something. Then it might be a little bit off. If it's just something like that, it's fine. It's not going to make a difference. At the end of the day the only thing that really counts is solving the person's problem and getting them to where they want to go. If you can help them do that, the name is irrelevant. Still waiting for Donald Dang's message. Donald's niche is Shopify. Okay. This is perfect. Because you said, Donald, that you were wondering, should I just do digital marketing at the moment because that's what you know how to do, yes. Because digital marketing is so closely tied to Shopify and e-commerce that you're going to need to get good at it anyway. It's going to be a complement to the skill. It's not like these things are totally irrelevant like university is. If you want to be a Shopify master and an e-commerce master, university ain't going to help you. Digital marketing consulting well. Then you can always learn about it too. If I was you, I would quit uni right now. You've just got to do it now. Please just quit now and post in the Facebook group and say, "I've decided to quit." Honestly, everything will get better from there. Then go all in, 100% of your energy channeled right into getting digital marketing consulting clients. Get like five of them at two grand a month each. Now you're making 10 grand a month. Now on the side, just start looking into Shopify as a hobby. After work, start looking into Shopify like you would Netflix. Treat it as if it's entertainment. Look at it for fun and just start learning about it and familiarizing yourself with it. Don't feel guilty about not going all in on it, because what you're doing over here with digital marketing is so closely related to Shopify that it's going to help you anyway. You're also making money, which is going to help you as well. That's what you should do. Do it. Donald Dang again says, "What's your opinion on cold calling businesses?" Why do it? Dude, the modern day cold calling is adding someone as a friend on Facebook and then private messaging them. That's like cold DMing. That's the modern day cold calling. Cold calling is so dead because you don't even know how to find most people's phone numbers. The phone number that's listed on something is really going to be the right number. A person's Facebook profile, who do you think's going to check that message? That's the modern day cold calling. Rex is finishing week one, glad I made the decision to come on board. Nice going, Rex. Welcome. Francisco says, "Hi Sam, a pleasure to talk to you. In your opinion, which other social platform would be it interesting to advertise on in the near future?" This is a dangerous question because I mean, right now if there's any one platform to learn, I'd say Facebook because it's where the most money is and it's the easiest one to do. It's the one that works for pretty much every business out there in the world. That's what I would do hands down, nut we use other platforms too. We advertise on Instagram. We advertise on YouTube. We advertise on Google AdWords. We even advertise on banners on the net. We advertise on all of those places. We make it all work and it works in everything. I'm only ever going to teach people how to do the one best thing. Because if I teach you how to do one other thing that's not as good as the main thing, then I'm just taking your focus away from the main thing, which is stupid. Andrew Argue built his business to a million a month in two years with just Facebook. I built mine to 20 million with just Facebook. You don't need to go into these other things. The precise moment that people should start changing their focus to another channel, I will tell you. I will tell you the moment that happens. Right now it's Facebook. Andrew says, "Sam, where can I go to learn more about the mirror?" Week two. Watch week two. All right. Here's a good question, final question I'm going to answer just because I like it. Todd Warrens says, "I have had huge success in dental. How do you rise above all the me too marketers?" This is a good question. This is every single, every person on earth has to do this. If you are in, let's say you play sports. Let's say you play basketball. How do you get above? How do you rise above all the other basketball players to get into the NBA? Then when you're in the NBA, how do you rise above everyone to become MVP? How do you do that? I don't even really need to tell you the answer because you already know it. It's so simple. It's practice. Practice, dedication, time, effort, getting better. You will rise above all of the other me too marketers when you can annihilate them. Because you're so much better. When you can play games with the other guys, that's when you'll rise above them. That's the only way, practice. Just keep at it and just keep practicing, work harder than them, be more dedicated than them, be more focused on them, and be more relentless than them and you'll win. That's the only way. That's the only way to get good at anything and beat anyone at anything is practice. It's just that simple. Cool. I'm going to go ahead and wrap up this call now. If you enjoyed it, just click that like button. The next one of these is going to be at 3 PM next Saturday. Saturday, put it in your calendar now, 3 PM. The next one of these is going to happen. It goes for two hours. Thanks everyone for jumping on. I'll speak with you all soon.

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