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Consulting Accelerator Livestream Q&A, August 11th, 2018

Consulting Accelerator Livestream Q&A, August 11th, 2018

Summary

Livestream Q&A call recording for August 11th, 2018. 


Transcript / MP3

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Sam: All right, I can see a few people jumping on. Hey, Edward [Tang 00:00:31]. How's it going? Let me know if you've got video working. And let me know if you can hear me, audio and video. Someone can confirm that, that would be good. All right. Looks like everything's working good. So welcome, everyone. If it's your first time on one of these live streams, we do one of these every Saturday at 3:00 p.m. Eastern Time, which is the time in New York. And we go from 3:00 p.m. until 5:00 p.m., two hours. And I basically just answer your questions live. You just ask your questions in that comment box to the right-hand side of the screen, and I'll answer your question. And it's first come, first served. So if you show up on time at 3:00, then you should get the chance and the opportunity to ask multiple questions, and I'll answer them. So I'm gonna start going through them right now. First one is from [Nathan Ward 00:01:45]. And he says, "I have a virtual assistant who is working out extremely well. She is going trolling through my Real Estate Niches platform befriending people and sending them copy on how I can help them in their business. I have over 50 people in the pipeline so far, and I'm struggling to keep up with the volume. Here's my challenge. I've closed three deals so far. And the process for that closing takes over two hours. The reason why this takes so long is because these leads have not been through the funnel. They are just responding with an email. They want a strategy session since each time I make a call, I'm assuming the close. "I make a mental commitment to spend as much time on the phone as I need to close the deal. The problem is that when I stack appointments every two hours on any given day and I get behind because of a longer-than-usual call, the whole schedule gets screwed up. How do you handle this? The issue is costing me a shitload of money since I'm losing clients who are excited about [inaudible 00:02:52]." All right. So it sounds to me like you don't have a standardized, proven way of doing these calls yet. And that's kind of fine in the beginning because you need to learn. And then you need to start refining. And a lot of the things that are going on in these calls right now, they're not actually necessary. You need to record these calls, listen to them, study them, analyze them, and think, which parts were necessary? Which parts were unnecessary? Where could I cut the fat? And you want to start trimming it down, trimming it down, trimming it down. And you can get them really refined. You should be able to ... What we do is we book ... When someone schedules a strategy session, it books it for 45 minutes in the calendar. And we do a strategy session on the hour every hour, which means that we're aiming to get it done in 45 minutes or less. But it has a buffer, it can go for 15 minutes over. But it has to be done in the hour so someone can get onto the next call. Now, it doesn't need to take two hours. That's for sure. When I really refined this, I could get calls done in 20 minutes. Now, I don't think you'll get it done in 20 minutes. The reason I could get it done that fast is because people were well aware of me by the time they got on the phone, so it was a lot easier. I think you can definitely get it done within 45 minutes to an hour, though. And you just need to keep working on it, keep studying it, keep analyzing it. And you'll figure it out. Susan [Perry 00:04:33] says, "Hey, Sam. Is this niche enough? I help married couples on the verge of breaking up rejuvenate their relationship and rediscover their love and affection for each other." Yes, that is a great niche. That is a real problem. And it is also a real pain. And people are willing to pay money for that because it adds real value. It is a good niche. Now, you just need to do it. Andrew [Hinone 00:05:06] says, "Hey, Sam. In your last video, you talked about hiring talent. Where do you find the most talented people for hire? And what's your process?" Yeah, so it really just depends what role you're hiring for, because there's no one place where you find lots of people. However, there is actually one place where you can find a lot of people that still continues to surprise me. And that is your customers. The people who are your customers and are in your Facebook group, in your customer community, that has been probably one of the best places to find all sorts of people, even people that have surprised me. I did a post in there a few weeks ago. Maybe it was a month or so ago. And I said, "This is a long shot. I'm looking for someone who is a Ph.D. in computer science and basically knows a lot about computer science." And I was like, "Probably a long shot. Not sure if any of those people are in this group." And I found someone and then ended up hiring them. So that place still continues to surprise me. So I'd say the one place to check first is your customers, even if you don't think if that person exists in your customer list, it'll always surprise you. You know Nick Hauser? He was a customer. Jesse Clark, customer. Rhett, customer. All sorts of people in our business have come from our customers. And it's an awesome place to find people. Other than that, you can post on social media. And then you can ask other people if they know anyone, too. And then you learn, probably the best lesson I've learned is that you should never hire anyone who can't hire somebody else that you want. So one of the key [criterias 00:07:10] I use when I'm hiring somebody these days is I'm like, "Do you know anyone who's really good at this other thing?" And I get them to tell me, and I'm like, "Do you think you could hire them if you were in this job?" And they would be like, "Yes." Then I know if I hire this person, they can hire someone else. And then I'm pretty sure that other person will be able to hire someone else. So I've really figured out only hire people who know they can hire other really good people, because that way, you make your job a lot easier, because after a while, a lot of your hires come from the people you've hired. So a key hiring criteria is, can this person hire other people, and do they know them, is a key thing. Those two hacks, look in your customer group, use social media, and hire people who can hire other people. Job boards and things like that are shit. Those are horrible. The traditional way of how you're supposed to hire someone is so bad. You put up a job ad for you're looking for someone who's a computer scientist, and you end up getting all of those people are chefs and just totally aren't that at all. I don't even know why they ... I think they're purely applying for it because they have to show that they applied for so many jobs to get their benefit money or something. It literally is something like that. It's messed up. So stay off those things. Adam [Damborsky 00:08:48] says, "What are good books on the topic of denial, mindset?" Probably "Psycho-Cybernetics" by Maxwell Maltz. It's really, really, really good. And it's all about mindset and self image. And it's actually by [inaudible 00:09:09] who would, people would come to him, like a woman would come to him and be like, "I think I look ugly because of my nose. And I know that if I change my nose, then I'm going to be happy, because I'm gonna be not ugly." And then he would do the operation on them, and then they still thought that they were ugly. And he was like, "What is going on? What is going on?" And he couldn't handle it. He knew that something else must exist. There must be some self image thing that people have of themselves because even when he changed them physically, they still believed the same belief. And then he dedicated the rest of his life to basically studying psychology and figuring this stuff out. And he did that, and then he wrote about it. And it's a really good book. Brad [Baylor 00:09:58] says, "Hey, Sam. I'm in week one and loving the course." Awesome to hear that. "I've been working for 15 years in the group health insurance and life insurance markets as an independent broker. For my niche, I wanted to help other brokers and agencies generate new business clients. And being a broker, I know how to get other brokers agencies to work with me and already have some brokers lined up. "However, my first task is learning to generate and deliver qualified leads. When week five is opened up to me, I anticipate that I'll learn how. My question is, do you think I should focus my efforts on learning how to generate group health insurance leads, which is a B2B market, or life insurance leads, which is a business-to-consumer market? Which one would work better with the methods you teach?" So, "Should I generate health insurance leads or life insurance leads, which is business-to-consumer?" I would focus on the consumer one, honestly. I find going straight to consumers is the best. And also B2B's disappearing. Who runs a business? People. Businesses don't exist without people. It's all P2P, people-to-people. There's no B2B or B2C. It's P2P. And you should always focus on it like that. We market to people, but we pick up all sorts of businesses that buy just like people because it's people at the end of the day. People get this thing confused, like B2B, B2C. It's stupid talk. It's corporate lunacy. It's just focus on the people. Edward Tang says, "Sam, hypothetically speaking, if you were stranded in a foreign country tomorrow where no one speak sales English, how would you start a business from scratch? Would you begin by learning the official language of the country you are on first or hire a translator?" Well, dude, your briefing is flawed because you said nobody speaks English. So how can a translator exist? If a translator existed, I would think that whoever said that no one speaks English is probably wrong. And then I'd try to find out how many spoke English. And then I'd see if I could start a market doing that. Or if a translator existed, I'd definitely use the translator. But if no one existed anywhere and also I couldn't fly in people, because ... This is why hypothethicals are shit, right? Because even if no one existed there, then I would get someone from a country who could. And then I'd use them. And then I would just focus on adding value. I would focus more on value than anything else. And to add value to other people, it comes mostly from solving problems, not speaking the same language, because you can still problem-solve without knowing the language, because you can use a translator, right? It's all about problems. I would probably try to figure out what is a huge problem in this country? Massive. Actually this is a good one. So I thought of it now. So I'm stranded in a foreign country where no one speaks English. Well, shit, I would just teach people how to speak English. Business. Now, Jonathan [inaudible 00:13:35] says, "Thanks for doing these videos. I'm curious what your Myers-Briggs personality type is. It seems you use a lot of introverted intuition. Is it INTJ? Also have you always tested as the same thing?" Yeah, so I am INTJ, and sometimes IMTP. I go between those things depending on what I'm doing. If I'm working and executing and getting things done all the time and just bam, bam, bam, I'm INTJ. All right? If I'm designing and architecting something which I'm not yet to build but I have to think through it all and architect an entire thing, then I'll fall into the INTP category. And then when it comes time to build that blueprint and execute it, then I'll go back into INTJ. So I kind of go between those two things. [Mauricio 00:14:42] says, "Hi, Sam. How do you manage underperforming people and how to fire them?" It really depends why are they're underperforming? If it's a salesperson and they're not selling, it's like, why? I always want to know why. I need to know why about everything. Otherwise, I can't make a decision because I don't know why, and I don't know if I'm making a mistake, because it might not be the salesperson's fault. They might be bad leads. Or it might not be the leads' fault or the salesperson's fault. The product might suck, right? Then so there's all sorts of things you've gotta look at. And I need to, first of all, understand why. And then ... [inaudible 00:15:29] your question ... All right, cool. Your question just shot past, but I still remember it. And then what I would do once I understood why is I would try to fix it. If it's bad leads, I'd try to improve the leads. If the product is bad, I'd to improve the product. But if it was truly the person and they had been given a warning and sufficient time to improve and they hadn't improved, then, yeah, I'd get rid of them. And the easiest way to know if someone isn't good at it is if someone else is doing it. So if you've got two salespeople and one person is doing really well and this other person isn't, then you know that it's that person, right? It's very hard when someone's doing something that you've never done before and no one else has ever done before and you have no idea what good or bad looks like in this thing. That's when it gets murkier and you have to investigate it and figure out why. But when you really understand a role and there's other players doing it, it's very easy to measure performance and know who's doing good, who's not. Mauricio says, "Do you rely on intuition a lot on making decisions?" It's a mixture of intuition and logic. My starting point would probably be logic or patterns, like if I've done something a lot and it's proven to be true all the time, then I'll pretty much instantly just do it that way because I know from past cases that that's good. So I don't even really think all the time when I'm doing something. It's just automatic. And that only comes with practice, right? And then if it's foreign territory, then I slow down because I don't recognize the pattern and I have to analyze it. And then I'll try logic on it and see if I can use logic. And then I will try pattern match it to its nearest neighbor in my memory of everything I've done before and whether this looks like another one of these things, and see if I can pattern match it to something that's close and use that as a guideline about what to do. And I'll use three layers of it. I'll use the intuition. I'll use the logic, the pattern matching, and then intuition's kind of fallback. But it flicks between those three things. I'm using three of them all the time to try and figure out what to do. But when you get to something new, it always slows a bit. But when you're going through things that you remember very clearly, it's just boom, boom, boom, boom, boom. You don't even really need to think. Andrew Hinone says, "Also you talked about when making a big purchase, like a car, you mentioned taking a loan from your company to your personal account. Can you go into this?" Yeah, so if you've got ... There's two entities that exist right? You've got your company, which is a thing, an entity. And then there's you, a person. And if you're making money in this business, right? And if you have a corporation and you make money in there, you only have to pay the corporate tax, which is generally lower than the personal income tax over here. And so you try to avoid taking the money from the corporation to the person because that means that you've gotta pay a lot of tax. It's best to keep it in the corporation and keep investing it there. Right? So if you [inaudible 00:19:11] buy a car, now you need to get money out of the corporation and over to you as a person. And that means that the money you have to pay taxes on it, which means that if you need 200 grand for a car, I mean let's say you need 100 grand for a car, you might need to get 200 grand out of your company because 100's gonna go to tax, and then 100's gonna go to the car. And so instead what you can do is ... Loans are different. A loan isn't income. It's not a salary because you're not being paid it. You're being loaned it. And now, you owe it back. So loans are not treated as income. They're treated as debt. So what you can do is your company can loan you $100,000. And you can get a lawyer to draw up a basic loan agreement. And then the company loans you the money. Now, you've got 100 grand. And now you didn't need to take 200 out because you didn't have to pay any tax on it. And then you can use that 100 grand to buy that car. And now, you can have that car. You can drive it around, whatever. And then when you get sick of it, you can sell it, get some money back, and then pay back the loan if you want. And that's how you do it. And that way, you actually dodge that tax in the middle, and it saves you a lot of money. But in order to do it, you need to just get a lawyer to draw up the loan agreement to make sure it's legally a loan, because there's a few requirements for a loan to be a loan. You can't just pay yourself some money and then call it a loan if there's not a loan agreement. But if you got one of those, then it is a loan. And that's what you can do. And it makes way more sense to do that than it does to take the money out personally. [Mohamed 00:21:07] says, "Why have a physical office space and hire locally regionally?" So if you're getting started, it's best to just build virtually. If you're getting started, it's best to, first of all, just try do everything yourself because you don't have any income. So you don't want to hire people when you don't have any income. That doesn't make any sense. First of all, do everything yourself. Get customers. Start making money. Start saving that money. Then keep going by yourself and do as much as you can by yourself. And then once you really need someone and then you can afford them, hire virtual. Just hire someone anywhere who can do it and at a good price, because that way, you don't have to have an office. That way, you don't have to employ people as W2 employees. You can have them as 1099 contractors. Saves a bunch of money and everything. And then you don't have the rent of the office. And then also you don't have ... You can get talent from anywhere and probably at way cheaper prices. So start doing it like that. You start, number one, by yourself. Number two, virtual contractors, 1099s. Then, number, grow as big as you can on contractors. But then you get to a point where you're like, "This is unmanageable now. We've got too many contractors. And they're all over the place. And we can't really grow much further like this. We need a proper team." And that's when you realize that it's best for you to get an office and then hire some core people locally. And then you're not even limited locally. Our office is in New York, but I would say [60, seven 00:22:57], no, I'd say 75% of the people that work in our New York office were hired from places that aren't New York, different countries, different cities, different states, all over the place. So then you'd hire people. And people are always willing to relocate. And people who are willing to relocate are really good people because that shows you their level of commitment. And then you hire people there, and then you form that core team. And then you've got a core team together there, and that helps a lot with forming the culture and forming the nexus of the thing, because if you build a fully distributed, decentralized network of contractors, it's inefficient at a certain point. It is really efficient in the beginning. It saves you a lot of money. But then it gets to a point that it's inefficient. And then you need to centralize things, like form that nexus there. And then from there, you can plug in people all over the place, and they're all plugging in to that central piece. And that works really well. What I found is there needs to be like a heart or a nexus point somewhere in the system to really run a good business. You think of all the businesses in the history of the world. None of them were built entirely virtually, none of them. And there's a reason for that. There is a lot of communication channels that happen in person that, and there's a lot of things that happen when you get different groups of people together and the very complex interconnections that can happen that were unplanned for. And that's what makes something really good. And also I find it helps build a team quite a lot better because if you have a ... You imagine trying to train an NBA team and they were just training virtually. And then they would come together to play a game. It'd be a mess. So there is an element that you get a higher level of bonding with the team, and you get a stronger, more galvanized team when you build it together like that. Everyone starts to learn each other really well and just bounce off each other. So that's the order of things that I would do things in. Number one, do it yourself. Number two, decentralized network of virtual contractors, 1099s. Number three, form a nexus in an office, and then plug in satellite teams into that nexus. That's what I'm doing now. Works good. Joshua [Westover 00:25:44] says, "Hey, Sam. I've got two clients now. And I'm at the stage of adjusting my product and learning exactly what my clients need to fix their problem. Based on what I've already created, you mentioned in your vlog this week that you should collect feedback from clients so you can adjust and improve your approach. But what would you say is the best way to do that? Should I give them a survey halfway through the program or ask them for feedback at the end of each coaching call? Is there approach you would recommend for this?" So it's not the way you think it is. You're collecting feedback every time you're interacting with these people. So you're talking to them, you're hearing their feedback. Their problems are their feedback. Their posts in your Facebook group are their feedback. Their support tickets are their feedback. Their results they get with your program is their feedback. You don't need to do a survey or formalize a process to get feedback. You are getting feedback. You just haven't been aware of it. But that is feedback. And it'll be obvious to you. The things that you need to change are just blatant. If it's a constant problem everyone is having all the time and you're well aware of it, fix it. And if there's something that some people keep using that's really good and it helps them a lot, you know what that is, blow it up. Make that a real big point so that everybody does that. You're trying to find the things that make people good that not everyone knows of and make everyone aware of those things. And then you're trying to find the things that trip some people up, and just eliminate them so nobody gets tripped up. You're trying to do more of what works and do less of what doesn't. And you just keep doing that, and you keep doing it. And it just gets better, better, better. [Mia Finlin 00:27:48] says, "Hey, Sam. My coaching niche are executives and high-level professionals in corporate America who are depressed and emotionally distressed. I also have self-destructive thoughts. I would like to find out what is their most important desire or problem. One could easily assume it's feeling good about themselves [inaudible 00:28:05]. But it [inaudible 00:28:06] something like having a control of the situation, knowing how to kill depression, or being able to operate at the optimal level. "I would like to interview these people. Those meetings could turn into strategy sessions. Or at least get an email reply to my question. But I'm not sure how to proceed since this is a sensitive topic to many people. How could I find these depressed executives? And how could I approach them? Thanks." All right, so my question to you is how do you know that there are executives and high-level professionals in corporate America who are depressed and emotionally distressed if you've never talked to one of them? That's my question, because you would only know this problem exists if you've talked to these people and they've told you that it exists. And then however that happened, however you were aware of that, and however that situation occurred, you need to just reinvent more of those situations. You need to go and repeat that thing a lot so you can talk to more people and learn that information in more depth and or width. That's what you need to do. [Abel Nigia 00:29:22] says, "I'm going to register my business, but I'm not sure whether or not to register in my state or out to avoid fees and taxing? What do you suggest?" So where are you? What state are you in? Oh, you're in New York. Yeah, so it doesn't matter where you actually ... What you should do is you should register a C corporation in Delaware. That's just what you should do, because that gives you the ability to then move anywhere you want in the future in America and you're fine. So you just register in Delaware, and then get a license to do business in New York. But you don't pay tax based on where you incorporate ... PART 1 OF 4 ENDS [00:30:04] Sam: ... but you don't pay tax based on where you incorporate, right? You pay tax on where you are. So if you're in New York but you're incorporated in Delaware, you pay taxes in New York. You don't dodge that, but still do it in Delaware because that gives you options to go anywhere else you want. It's also the best state to incorporate based on the laws and all of that stuff, so do that Delaware license for New York. Alex shared says, "Would you recommend going international or staying national? I'm from Germany and the market here is pretty big." You start locally if you can. If you think that there is a need in your immediate market, start there. It's closer to home. It's probably going to be easier for you. You understand the culture there better. Do it there. Do it there as much as you possibly can. And then when you feel like you're starting to push this thing a lot, and it's getting hard to really grow, and you need new horizons to stretch yourself then go internationally, but there's no point really going like mass market international from day one because you just dilute your focus and your potency because there's different quirks to different markets, there's different strategies to different markets, and it's best to just focus where you know best, and then later on, span out their. Prime example is I started in New Zealand, and then I was in New Zealand, and America, and then Australia, and then Canada, and then we went into Europe, and then we went into all sorts of places, all right? [Rajesh 00:31:46] says, "Having only one client in my niche and that is already a acquaintance but not a paying client, do we find out the pain point for more and more other client, or do I still down with that client and go through their pain?" All right, so this is kind of backwards. I mean, you're supposed to analyze the niche first, find out if there's a widespread problem that exists amongst multiple participants in the niche, right? That's how we kind of pick the niche. And then if we had one client, we'd know that other participants had that problem because it was part of the sequencing of how we did things. If you don't know then you can just ask your client, "Hey, do other people have this problem?" They will say yes or no. And then you should also look at the market, research it, talk to other people in the market, "How do you deal with this problem?" Find out, it's pretty easy. Nancy says, "Hello, Sam." Hi, Nancy." Alex shared says, "Hey, Sam. I already got five group design clients that are coaches. I feel like websites is not really changing anything for them, but it's an easy sell. Would you recommend offering building and funnels for them?" I would recommend trying to find out what their problem is and trying to solve it. Forget about the means and start focusing on the end, you know? Right now, you're just looking at means and trying to sell them to people, which can work. I mean, that can absolutely work, but you want to find out what end they want to achieve, and then sell them the best means to achieve that end. Nathan Ward says, "So in your 45 minute call at the close, how do you make sure the clients pay? Stripe won't let me input the credit card number. It is making me to have the client pay the invoice. This take some time as well as have them signed the custom contract between me in the client myself. How do you handle this efficiently?" Yeah, so I said this in the training. You never ever, ever input a card into Stripe. They don't like that. That's what fraudsters do. So, it looks like fraud to them. They're like, "Oh, panic, panic. Someone's doing something bad." They'll probably lock down your account. So you need to plug an application into Stripe, and then use the application, and then you're fine. You want to use something like Payfunnels, right? Payfunnels allows you to do that. You can click the card over the phone, enter it in, boom, done. Alex says, "Hey, Sam. When will the new organic training be available?" Not 100% sure right now, but it will be this year. I'm just finishing the app Playful Program right now, and then we'll be doing with some updates to Accelerator. [Joshua Westervie 00:34:44] says, "Hey, Sam. For building my business, I'm essentially relying on Facebook at the moment. My niche is fear of flying. Even though it's still early days for me, I was wondering whether you think it's necessary to consider and use other options rather than purely relying on one platform?" The thing is this is like the multiple streams of income thinG, you know what I mean? People are like, "Oh, you can't have one stream of income, but whatever is working the best is the thing that you should be using the most. Facebook works really well. If it's working really well for you, use it to the full extent you possibly can. Don't worry about using something else. The only time Facebook will stop working is when something else starts working better, right? It's the only way that it will stop working is because someone will have invented something better. If that is the case then you use that. You don't need to get all freaked out about this thing, right? To replace something good, something better has to come along, and it's actually good for us. People say, "Oh, are you worried that Facebook's going to like one day not exist?" I'm like, "No, I'm excited because the only way that it won't is if someone builds something better and then I'll be using that." [Bettina 00:36:04] says, "What is your view on the growing and boomerang effect of climate change that will eventually affect the market and people's lifestyle?" I don't really have like a view in it because I don't really know that much about it. I think we're definitely polluting the world too much, but people are becoming more and more aware of it, and people are inventing electric things. I think the new generation is going to fix that. They're already showing ... They're already doing it, but the fact that there's electric cars that are faster than petrol cars is a good sign. And so I think it's a problem, but I think people are thinking about that problem, and making a change, and I think that's good. There's things like these Bird scooters that I used in LA. They're like electric scooters. I had a car, a rental car, and I was using that scooter instead even though I had a car that I paid for. Signs like that are good that we're already innovating to fix this problem. I think if we follow along that trajectory, we will be good. [Sebastian Zukemas 00:37:23] says, "What do you think about building a Facebook group for my niche to nurture them there with value posts and videos in order to get them to book a strategy session over time?" I think that in the beginning, if you don't have a client or you're kind of trying to hit a pool ball through another pool ball, you know? You're like trying to hit one pool ball, to then hit another one, and go in the pocket. It's best just to aim direct in the beginning like just, bam, because it's got more chance of working. That's how you should start, just with the direct method, but then got a [inaudible 00:38:10]. I don't see any reason why you shouldn't do that, but you got to be careful in the beginning that you're not doing things that are distracting you from just going directing, getting the job done because a lot of people use things like this as an excuse to not do the most important thing, all right? [Michael Esparza 00:38:30] says, "Do you use ClickFunnels for all your websites and emails?" No, I do not. I use to like ClickFunnels' funnels. Nancy says, "I'm working with Week One and I'm wondering how I can ask my niche directly about their desires. Should I just call them and tell them that I need to ask them some questions, or is it best to send them an email?" It totally depends on your niche, who they are, what they like, your ability to find their phone number or their email, and you, and your personality, and what medium you prefer the most. I would do what feels right to you. You can always do both. Remember, you could do ... If you were totally unsure and you're [inaudible 00:39:14], do both, see what works best, all right? There is not a one-is-better-than-the-other sort of thing here. It's just whatever works best for you. [Brad Bayless 00:39:24] says, "Hey, Sam. Can you please comment on which of these two niches you see is more promising? I help insurance agencies grow their business by teaching them how to get more clients using new online strategies, or I help sales people achieve their goals by helping them overcome the fear of rejection." Yeah, this is one of those things that I can't answer given that information because there will be a reason why you chose those two. Those reasons I don't have. I would say the best. My answer to you would be gun to your head. Imagine someone's got a gun to your head and you have to decide in 30 seconds or you're dead. Whatever one you would choose, choose that one. Seriously, that is what I would do. Alex says, "Which is better in your opinion, learning as much as you can, or just learn to apply?" None of those because you're saying which is better in your opinion, learning as much as you can, or just learn to apply. I would apply. I'd both learn and apply. You don't learn to apply. You apply, all right? You do a lot of learning through applying. Just try like learn a bit, do it; learn a bit, do it; learn a bit, do it; and just make sure you're doing equally as much as you're learning, and then sometimes the only thing you'll be doing is doing, and just always make sure you're doing both, you know? Thinking and doing, learning and doing. People who just think and learn don't actually learn anything or do anything. People who just do and never think or learn, they basically end up like being a doorman for like a building, just opening the door and closing it for 50 years straight, and then dying, right? Both of those are wrong. You should do both. You should both do and learn, you know? You want to learn something then do it; learn something, do it; learn something, do it; and keep getting better, and keep going that way. The answer isn't binary state. It isn't just to do doorman shows us there. It isn't just to think like Oxford professor shows us that. It is both. Sebastian says, "I have an email list of 200 people in my niche, and I'm not ready to do a live webinar with them yet. What other things could you recommend me to do to schedule a strategy session?" Sure. You could just send them an email and say, "Hey, book a strategy session with me." Seriously. You don't have to do a webinar to get a strategy session. Obviously, you want to put a bit more context in that like, "Hey, for the next two weeks, I'm going to be doing some strategy sessions with people on my list to best understand them, and their problems, and things that." You can come up with the language and then just at the bottom, have a link, and then it goes to that, and it goes to a calendar, and they can book and do a survey. Will Allen says, "Hey, Sam. Thanks for the course." No problem, Will. Donald Dane says, "I'm struggling with being selfish. I find my mentality when reaching out to prospects comes from a belief. I want to help myself, in my case, financially before I want to help others. When I'm working on my own business whether that could be e-commerce or consulting, I can work non-stop and it doesn't feel like work. When it comes to helping other businesses, I find it to be a struggle and I don't really care about this situation or goals. How do you change such mindset?" Yeah, well, you just haven't figured it out yet, right? The way to help yourself the most is by helping them. That is how it works. So, you think you only like helping yourself, but by doing that, you're not, so you're confused, you know? You're actually hurting yourself right now. The way you'll learn the most, and get the most done, and be the most selfish is by focusing on helping your customers, and then you get everything you want. You just haven't figured that out. [Nakul 00:44:15] says, "Hey, Sam. I want to help people with a passion for writing to turn it into a career. I had my own copywriting and content business. However, now, I'm back in paid employment, which involves writing. Do you think I can go straight into coaching, or do I need to re-establish a business as a copywriter?" It depends what you're telling people how to do, right, because you were saying you want to help people with the passion for writing turn it into a career. Right now, you have a job that involves writing. So you do have that. If you were telling people, "Hey, I'm going to show you how to start your own business doing writing," then you couldn't really say that well because you aren't doing that yourself, so there's an incongruency there. But if you start helping people get a job doing copywriting, you can do that because that's what you know how to do, and you're doing it, so you can teach them, and they will do it, too. And then later on, if you decide to try, and do it on your own, and then you do that, then you can start teaching them how to do that, too. Just teach what you've already done. It's the easiest way to do it. Will Allen says, "What do you think of the niche helping single engineers to attract women and initiate intimacy? It has been hard to do the research to validate this, but I used to be an engineer. They are notoriously, socially awkward." Yep, sounds like me. "I love personal development and relationships." I think it's good if you know how to solve it. That's a good niche, because you're right, they're all like that really. I know because I've worked with lots of them. They're probably the people that I most understand and I'm similar, too. I understand them quite well and I think that's a good niche. It's a good, unique niche. I like it. Joshua Westervie says, "Hey, Sam. If possible, I'd like to post a welcome video. I've created for my one-on-one program in the community to get some feedback on it. Is it okay to do this? I want to make sure it's not coming across as self-promotional." Well, if it isn't self-promotional then it won't matter, but if it looks like it is, which people are pretty good at figuring out, then it's not okay. You just got to determine what it is and then do it. Thomas says, "Laughing about getting sick at fast cars. Thanks for everything, Sam." No problem, Thomas. [Tobin Poppenburg 00:47:10] says, "I've got a question for you, why if you are from New Zealand, you live in New York. Do you run at your business from a Dublin, Ireland address? Is there some special tax in of it?" Yeah, so why am I in New York from New Zealand? Well, I wanted to move to America because it's a really good place to do business. There's a lot of people here. So if you're in America compared to New Zealand, there's a massive advantage to doing business, right? It's just so much bigger. That is not to say you can't do it in New Zealand. You can do it well there, but if you want to get really big, I mean, this is obviously the place to go. Why New York? I don't know, I just liked it. I've been here before, I liked it. So I figured we go there. The Dublin thing, yes, so we actually have an office in Dublin. It's not just an address. There's an office there, and there's people there, and there's a full-blown business there. We do that for a few reasons like there's good ... I pay lowest there, there's good talent there. You can hire lots of good people from all over Europe because Ireland's in Europe. So people can come from anywhere in Europe there. The market there for labor is really good. It's cheap and the people are quite good. There's a lot of other companies there like Google, and Facebook, and all of that, and then their tax system's good, too. But it's not just an Irish address, there's a full business there. You can't just get an address there and do that. It's a lot of work to set that thing up and you got to do it properly. The only way to do it probably is to actually have a company there. [Rohem 00:48:58] says, "What's up, Sam? It's interesting what you said about not working with big corporate companies even if they gave you millions. Curious to know, is that just a personal preference, or big corporations just annoying to deal with?" Yeah, I just don't like ... I hate things that unnecessary and fake, right? In the corporate world, there's so much process. It's just like you've got to have this meeting, and then this meeting, and then this meeting, and then you got to meet with legal, and then you got to meet with this, and then meet with this, and it's just so much waste. It's just like things take so much time, and things take so much energy, and waste, and paperwork. Also, there's so many restrictions, you know? You can't really do what you want or what's best because there's so much rules and restrictions. And then it's so political. They won't make the decision based on what's best for the customer, almost never. They will do things to get liked because their friend works in an agency, so they'll do the deal like that, or they'll do a deal because the person's worried about losing their job, or they'll do the deal because the person wants to get another higher job, or impress the boss, or just all this bullshit. I hate that stuff. I just want to do the thing that's best and I want to if it ... When I know what that is, I want to do it now, immediately, today. If I even have to wait a day, if someone even makes me write a proposal, I'm pissed off, because once I know what to do and I know that's what we should do, I just want to do it. I can't stand anything that gets in the way of it and that's a corporation like a big corporate company. What I like doing is building things more so than getting paid money. So, just because the corporation will pay me lots of money, it's not fun. All right, what am I going to do with more money? Nothing. I would rather build things. At a corporation, I'll get money but I'm not going to build shit. So, I'm going to just be unhappy. Thomas says, "Thanks for everything. My niche is healing people after breakup from narcissistic ex-partners and helping people overcome codependency. I tested a lot and saw that the market reacts pretty bad at sales e-messaging. What is your tip and approach for non-sales e-messaging and converting prospects to clients?" Well, it depends how you conducted this test of yours. If your test was running some ads and then looking at the comments on those ads then that isn't a test, all right? Comments don't really tell you anything. You've got to be careful what signals you look at as to how you determine the outcome of your experiment. So when we're running ads, we look at the results of those ads. Are we getting customers? Are we doing so at a profitable price? And then we look at the relevant score of the ad, like is it relevant on Facebook. Relevant score is measured by how many people stop when they're scrolling through the newsfeed and start reading the thing, and then liking or commenting, that signals to Facebook how relevant your messages to that group of people. That's a better test whether people will like your message than reading the comments. The comments will twist your brain around because we've got ads that just crush it. The relevancy score is nine or 10, all right? That's just out of this world high, impossible high. And then the results are insane. We get customers, lots of them, at really good prices. But then if you read the comments, it looks like why are we running this ad, there are people in here who would just like hate me, but I don't care because it's meaningless to me. They can say whatever they want. I mean, I don't give a shit. It's just their words. And so, I just look at the actual signals, not their noise. I don't think a lot of people understand that. People think that their opinion matters. Doesn't really. I look at the thing that really matters, you know? That's what I look at, and in other people's opinions, don't care. I don't look at the comments ever really. I never read them. I don't even know what exists there. It depends how you did your experiment. If you didn't do it the proper way, which is what I just told you how to do then do it the proper way. If you were using comments, it's not an experiment. [Nathan Misagie 00:54:15] says, "Sam, my client dentist is having trouble converting the leads I'm sending his front desk to patients. Any tips?" Yeah, like why? That's the question. What's happening? Diagnose it. Don't look for tips, diagnose. Understand it, ask him why, just why, why, why, why, why, why, why, just drill with this dude until there isn't a piece of information that exists in his brain that you don't, all right? Learn why. And then when you know why, fix it. [Andrew Honoan 00:55:01] says, "Hey, Sam. What's your approach for when people ask for refunds?" Well, it depends what your refund policy is, right? If it's outside of that policy then you say, "Hey, it's outside of that policy." If it's inside of that policy then you can try first to solve the problem and see if you can keep the person, but if you can't then you have to refund them because that's what you promised them, right? You just have to do what was the expectation. You should always try to save the customer, right, because that you can really save a lot of people by just finding out what he's stuck with and frustrated about, and seeing if you can help them with it. But if they still want it, and they're within their rights to get it then you got to give it to them. That's how it works. [Carl McLaughlin 00:55:50] says ... half a question, I can't answer that one, Carl, because that question makes no sense. [Ryan Weekend 00:56:02] says, "Hey, Sam. I am new to the program, looking through week two right now and really enjoying it. While doing my market research to pick a niche in weight loss and mindset, a lot of feedback related to trouble with mindset and discipline. However, I'm finding that people are not so willing to pay more than a few hundred dollars on a weight loss program and that includes mindset habit training. Should I reconsider my niche, or possibly look into making the focus more mindset-based with the physical health aspect included?" Yeah. It's not that that niche, like weight loss niche, will not pay more than $100 for training. They will. They do. I have lots of clients whose clients pay thousands of dollars for weight loss and training, all right? So, that isn't true. That's just what you think, but I can tell you it's not true. So you shouldn't necessarily reconsider your niche. It's just you haven't figured it out yet, you know? You need to keep working on it. You don't need to put the mindset stuff in there. You're trying to solve a problem. So you need to pick the market, identify the problem, and then solve it. If the mindset doesn't contribute to solving that problem, or if there's other things that could solve that problem better than that then why would you even put that in there. You are only putting in the things that are best suited to solving that problem, that's it. [Rath Goldberg 00:57:34] says, "I sign my first client on my first day of taking action from going through a website where they refer kitchen contractors, and I got one to sign up for Instagram advertising for 2K a month. Do you think I can go to Facebook ads with just one client?" No, especially not if you did it on day one of taking action, because it means you've only got one-day experience. You need to know some things before you can go to Facebook and be dangerous, you know? Facebook is a framework for inputting information and then getting an output, net input of information. Now, the output that comes out of Facebook is the money that you get and the results you get. The output is directly related to the input. So the quality of the information that you input into the Facebook machine dictates the output. You can only know what to put into it if you've got good experience with the niche, good proof of concept, you understand this thing well, that tell you, you will go to Facebook by knowing what to put into it, not being good at Facebook. Being good at Facebook is a process. What most people think being good at Facebook is, is the process of Facebook. Processes don't create like value. Inputting quality inputs into a machine creates value. The process is just the thing that machines input. That's why I get people to do the proof of concept. You got to get like three paying clients, understand the market well, you got some good experience, you got all of these strategy session recordings, you got all these chats, you got all of these notes, you got all of these message hypothesis, documents, you've got a wealth of knowledge here, and you know you found something that's working. You have the germ of something successful, right? Now, you're good to go to Facebook and input those things in there. That's how it works. Carl McLaughlin says, "Hey, Sam. Is there a rule of thumb for how hours per week and month you should be spending on clients on a done-for-you basis? In other words, I wanted to set up the right expectations upfront so clients don't abuse my time. I help real estate brokers ..." PART 2 OF 4 ENDS [01:00:04] Sam: ... Don't abuse my time. I help real estate brokers recruit and mentor the agents. Just getting started, as I haven't figured out how much to charge on a monthly basis yet, and I want to make sure I'm being productive with my time and setting up for scale. Yeah, so the answer isn't time. That's the wrong way to do it. The answer is as little time as you can possibly put in to help them solve the problem and get them the result that you're promising. That's all they care about. If you just walked in there, clicked your fingers, walked out, and then they got the outcome that you promised, they're happy, done. They're happy to pay for that 'cause you did want you promised for them. They don't care how you did it. Again, it's like the outcomes, not the processes that matter. Then, so focus on the outcome you're promising to these people, solving their problem. At the start, it might take you a huge amount of time. That's what it takes, that's what it takes, you got to do it. Then as you get better, better, better, you'll be able to refine it and get it smaller and then it doesn't matter if it's only a small amount of time 'cause they're buying outcomes, not your time. No one wants to pay you for your time. If they do, they're not thinking straight. Joshua [Westover 01:01:24] says, "Hey Sam, with my fear of flying niche, I've basically gone international from day one. Both my clients are from America and I'm in the UK, and most of the prospects I speak to are from the US. Is this not the best strategy as I'm just starting out?" It doesn't matter, man. A lot of people know their immediate market well, so they'll start there because they don't have connections with ... and I don't even know if this is true, but when I first started out in New Zealand, I didn't really know anybody in America, so it was foreign to me. I hadn't been there, and I didn't have any friends from there. I didn't even really chat to anybody that was from there. All I really knew was people in New Zealand, so that's why I started in New Zealand. Then as I became more exposed to America and had been there a few times, and I met some people over there, and I chatted to people, then it changes things. I'm guess you were more international like you'd probably been there or knew people, and that's fine. Just do what seems like the best thing to do at the beginning. If you don't know anyone in any other country other than your own, probably stick to your own at the beginning, and then go international. You can sell into international markets from day one, too. You're just doing the thing that makes the most sense. Henry [Brenning Williams 01:02:47], "This is an amazing course, Sam." Thanks, Henry. Alex [Shance 01:02:53] says, "Thanks for your answers, love the course." Thank you. A Bauer says, "Should I register my business as an LLC or a C corporation?" I don't know every in and out of this thing because I spend most of my time just running my company and building things, not just focusing on the little, tiny details of company structures. I have a C corporation, and there's a good reason why I do, and it's because you can pay corporate taxes instead of if you have a single member LLC, it's basically like you don't have a company. A single member LLC, whatever money you make as profit in your company is just transferred straight to you, and you have to pay personal income tax on that, so you have no option to leave it in the corporation because there is no corporation. A single member LLC is basically just a look through company, it's basically just being self employed. A C corporation changes things because you can leave the money in the entity, only pay corporate tax, and not have to pay personal income. That's why I have one, and it's why I've always recommending other people to do one. I'd say to do that, too, but I don't know every in and out of your situation and everything. Yeah. Wade Collins says, "How involved did you have to get with the plumbers in their business before you backed off? Where were all the services that you offered to help or assist their business success?" I was able to understand plumbers from like two meetings, just by asking the right questions. I understood that they had problems getting clients and the clients they really wanted were hot water cylinder repair clients. They also wanted them in specific geographical areas because it was closer to where their office was, and that meant that there was less commuting. They don't get paid to commute, so it's better for them. They also like jumping from job to job when it's close. At different points in time, there were different developments in different areas, and usually there was a lot of hot activity in that development area. It took like two meetings to understand ... it really took one meeting to understand these guys. Two to really understand them. Then it took me maybe a month to figure out how to run successful ads and campaigns for them. Once I knew that, it was just like rinse and repeat. Got a new plumber? Cool, apply it. Got a new plumber? Apply it? New plumber? Apply it. It's just applying a pattern. The hard part's learning the pattern, the easy part is applying the proven pattern. Then what were all the services you offered to help or assist their business success? I didn't really offer any other services, I just recommend them stuff. If we'd send them lots of phone calls, and we found that lots of those phone calls weren't getting answered or going to voicemail, we'd be like, "Hey, what are you guys doing? Who is responsible for answering your phone?" We asked them questions like that, and we'd just figure out how they ran their business and then we'd just give them a bit of advice, like it's obvious that you should have someone answer the damn phone. Then they'd do that. Then we would just work together like that to improve it. Ref Goldberg says, "Is email outreach effective? I sent out 20 emails and got no replies, but when I sent out a text, I got a client." Yeah, so it's easy to send out 20 emails and not get a reply. That can happen. If you sent one text and got a client, that's a good sign. I would try to repeat whatever you did with that one client. I'd also keep sending emails. You're just doing things, finding out what works, and then doing more of them. Right now, I'd try to identify if that text thing was a fluke or if you're onto something. That's what I would do if I was, you just try and do it again. Marina Bitza says, "Hey gang, what do you think about chat bot and can it be optimized with any of your systems?" You said what do you think about chat bot? Chat bot isn't a thing, chat bot can be anything, so I don't know. There could be a chat bot that's good, and there could be a chat bot that is just a straight up bad idea. Chat bot isn't one entity, chat bot is anything. You know what I mean? I can't answer that question, the question is flawed. Elaine says, "Hey Sam, in consulting Accelerator week two, you said you helped Andrew [Aryou 01:08:10] change his mindset and he went from 17K to 400K per month in a short period of time. Now Andy is making a lot, what additional information would you add to the mindset to make it more potent today?" Thank you, Elaine, Ellen. I've rebuilt the training since, so actually to tell you it, it's interesting how it's happened. Back ages ago, I didn't have anything to do with mindset in the training, nothing at all. Then one day on a Q&A call, like this, but the Q&A calls that JC does and Nick Hauser do. We were finished with questions, and so I just started sharing some stuff about this mindset hack that I had. I had no idea that people would be interested, but people were really interested. After that Q&A call, everyone was like, "Dude, whatever the hell that thing was, that was awesome." Everyone just really lit up and they were like, "I need that." What I did is I created a module, just one module that was only like 30-40 minutes long talking about the mindset thing. Then I put it in the course. Then when I went to remake the course, I actually took to out. I removed the mindset piece 'cause I was like "Aw, maybe people don't want this thing, they just want to make some money." Then Andrew came back to me, and he was like, "Dude, why did you take that mindset thing out of the course? It was like that was the thing that helped me so much. That changed the game for me. I can't believe you took it out." I was like, "Oh, shit," so I put it back in. Then next time I made the course, instead of making it one hour, I was like, "All right, people seem to like this. There's been good signaling here." I put it in, people loved it. I took it out, people were like, "Put it back in." I was like, "They must like it." Then I made it from one hour to two, I was like, "Let's test this thing. Let's see if they want more." I put two hours in, people loved it even more. I was like, "Okay, these people quite like it." Then I go to make the program again, and I'm like, "All right, let's have some fun." 14 hours, let's just go all out. Then people loved it even more. What's pretty funny is that you'd think when you make something from one hour to two, that not as many people would watch it. More people watched it, and more people watched it from start to finish, and multiple times, and more number of people watched it. It was two than one. Then when we made it 14 hours, more people watched that, all the 14 hours from start to finish, multiple times, than anyone did the one hour one or the two hour one. Really weird, really weird thing. Whenever you see anomalies like that going on, obvious there's something there. A lot of people think that the longer something is, the less people will watch it. Not true, but that doesn't mean that the longer something is, the more people will watch it. The main lesson here is time is irrelevant with a lot of things. Time isn't the main thing. The outcome is the main thing. Yeah, that's why when people ask me, "How many hours should I put in? How long should my course me? How long should my video be?" It's like as long as it needs to be to get the job done. There isn't a magic number. [Doe Vile 01:11:57] says, "Hello Sam, I'm going through week one in your program and I'm about to choose a niche in helping women become great leaders. I did a research all day today to find their problems. I was checking various websites that offer leadership coaching to women, I looked at various best sellers, and I also checked various blogs. It looks like one of the main pain points that keep women from moving forward careers is that they are insecure and have self doubts. Would you suggest to contact women to find out if that is a real problem, or should I trust what the literature in my other service providers say?" No, never trust that. Never, ever, ever trust a proxy of anything. If you look at a report, like if you look at what's in the news and you think, "That must be what's happening in the world." Fatal mistake. If you look at a chart, and you're like, "Oh, that must be what's happening." Bad. You hear somebody tell you something, and you think that's what's happening, bad. You read a book, you think that's what's happening, bad. Never, ever trust proxies of things. Go straight to the source and find out for yourself. Doesn't matter how much "authority" the person has, doesn't matter who it is, what the medium is, how convincing they are, you have to figure it out for yourself. There's no other way. People who trust proxies and build upon proxies build horrible things. Justin [Tesia 01:13:30] says, "I'm selling websites to small businesses. What have you found are the major pain points you aim to solve in selling websites web design services?" Yeah, so I think it differs on different people. Some businesses are gonna want websites that are cheap, some people are gonna want websites that are so well designed that they're willing to pay a million dollars for it. Some businesses want websites that will get them customers. Every different instance is different, but there are clusters of instances, which can form niches. What I would do, is I wouldn't stick to any one thing too rigidly. First of all, I'd decide, where do I fit in this continuum? Am I on the low cost one, mid cost, am I full blown design and top of the market? Generally people aren't making the most beautiful websites in the world at the highest prices, and also building them for $50.00. Choose where you are in there, where you like, where you're best suited. Then I would treat every new client and strategy session as a diagnosis. I'd find out what they want. Why do they want a website? If someone applies for a strategy session with me, and they want a website, my first question is gonna be, "All right Justin, tell me why you want a new website," and I'll listen. Then I'll be like, "All right, so you said you want a new website because you've been looking at your competitors' ones and they look better than yours. Why does that matter?" They'll be like, "Da, da, da, da." "Why does that matter?" "Da, da, da, da." "Why does that matter? All right, so really you want more customers through your website, but you also want it to look good." You just need to understand what they want and then give them that. Pier [Bezorland 01:15:37] says, "Doing dental marketing, what approach would you have in a cold outreach mail to a big cold list? I know the sub niche is that vertical in sending to also. In the email, we're linking to our landing page, to the value video, and then the schedule page for the strategy session. I tried this earlier this week to 1,285 people, zero opt-ins so far. I want to say, we're pretty high legal on the messaging and also the conversion rate optimization." You want to say that you're in a high level of it, but you're not because if you sent out that many emails and you got zero, why would that happen? 'Cause the messaging was off, or the conversion rate optimization is off. I would say the messaging is way off because you should get one at least, something. This is the problem, it's that it's a cold outreach email. This is the real problem, that it's cold. Sorry, I thought this was a list that you had, like your own list. The real problem is that you're spamming people on a cold email list. That doesn't work. You don't just buy lists or scrape lists, get them, put them in an email thing, and then just blast 'em out. That's not a good strategy. I would send personal emails to people individually, that's better than spamming cold lists. I would ask them questions and try to have personal conversations instead of push them into a funnel. The method you're using here is flawed. It's not the messaging, it's the overall strategy. James Arland says, "What you can say on a strategy session when a prospect is asking if you've done it before, and you haven't had any clients for digital marketing? I had this hangup, and I'm not sure how to deal with this in a way that doesn't disqualify me given that they're comparing options to digital marketing services. Thanks." Yeah, so you just have to be honest. You just have to say, "No, this would be the first time I'm doing it." Then say why though, why you think they should choose you over the other person. If it's blatantly obvious that they should choose the other person over you, then of course they should choose the other person, and they will. That just means that one client probably was the best fit for you right now, but you will find a client who isn't price shopping everyone and trying to find the person who's the best fit, and they want to go with you because you approached them, they liked the sound of you, they seem to bond with you, and they want to go with you. There are tons of people out there where that happens. Yeah, if somebody's comparing offers and they're looking at really experienced people with proven results and then you, who as none, obviously they're gonna go with the other one, and that's just how it works. That's not a problem, you just go to the next client. You'll find someone else who doesn't have that same circumstance. Tobin says, "You misread my question, I'm just asking why you keep a Dublin, Ireland address rather than a New York or anywhere in the States." Yeah, so what happens is like we have more than one company, right? Consulting.com, it has a Dublin address, it has Dublin accounts, Dublin's Stripe account, Dublin employees, everything. A lot of our intellectual property is over there in Dublin. The receipts are issued from there because the servers are there, the merchant account's there, the checkout's there, the transaction terminates there. Our company here in New York, we have another company. That company here is an affiliate of that company over there, and we market and sell its products. If we help generate a sale for that company, we get kicked back commission. We're on the same affiliate program that everyone else is on, which is what makes it all how it works. It's very complex and it's not even something you think about until like way later 'cause it'll cost you 300 grand in lawyer's fees, and it'll probably take you 20 lawyers and six months to build it. It makes no sense unless you're making a lot of money, more than 10 million. Steve Lawton says, "Hey Sam, my niche is helping struggling dieters lose fat in 21 days, and keep it off by creating good habits through fixable dieting and proven training methods. How would you suggest I find these kind of people through the organic methods? It seems so broad compared to searching for people in the finance niche." This comes back to how you came up with this idea for this niche. You want to help struggling dieters lose fat in 21 days and keep it off by creating good food habits, right? How did you pick this niche? You must have observed it or talked to someone, you must have had exposure to it to know that it exists, and to know that you want to do it. Ask yourself where did that exposure happen? Where did you see it? Where did you learn it? If it happened through you and your experience and you're the market, then ask yourself what do you do? Where would someone be able to find you? There's no way that you could have come up with this idea without some exposure to something somewhere, and you just trace those steps back and wherever that was, that's where you find them. That's how you do it. That's the beauty of it, you shouldn't know what niche you've got, and you shouldn't know a problem exists and that they have these things unless you've talked to them. If you talked to them, you know where to find them. When you're asking how do I find people in my niche? That question's already answered. Ref Goldberg says, "What's the most effective way to get clients organically?" Just by working hard and trying things, and iterating, and learning what works good, what doesn't work, and just iterating better so you're getting better, better, better. Just working on it every day consistently over a long period of time. That's what works for everything. That's the answer pretty much to everything in the world, even building a spaceship. It's just work on it all the time, every day, relentlessly, never give up, learn from your mistakes, and just keep going. That's the answer to everything. Justin Tesia says ... yeah, sorry, so I think Justin's actually replying to Steve. Xenon says, "How do you deal with haters and naysayers and negative comments on social media?" Well, I got the best strategy in the world. I don't even know they exist. They're not even in my comprehension or universe because I don't even know that they're there. I never look at my ad's comments ever. I don't know even what's there. If I don't know it, and I'm not aware of it, how can it affect me? It doesn't. That's how I deal with it. [Sherie Towe 01:24:21] says, "What are you building now?" Like out company, Consulting.com. I'm building out Uplevel consulting, which is the next program after this, which shows people how to go from one on one and done for you, to leverage group coaching and online courses. If you want to learn more about that, you can just look in week seven of Consulting Accelerator. I've been working on that. Also, at my company, we've been working on opening another office, one over in Venice Beach, in California. That actually opens in nine days, on August 20th. That's a really cool office, it's on the beach. I'm not joking, it's on the sand. You walk outside, you're on the sand. That's gonna be a cool office over there. Then hiring people, like a bunch of people. Moving some people over to that office, like shuffling all of that around. We're also building a sales team. We're doing all sorts of things. Always building things all the time. If I'm not building something, I'm bored. Sherie Towe says, "How are you testing the ads? What are the tools recommended to measure the ads?" Yeah, you just need to do the training. If you'd done the training, you wouldn't ask that question. The training for Facebook is in week five. Go to week five, watch it one modular at a time in sequential order, do the work, and you'll answer all of your own questions, and even more. Nathan [Mesagie 01:26:17], you fragmented your question across multiple questions, I can't understand it. Do it in one. Steve Lawton says, "Hey Sam, I help struggling dieters lose fat in 21 days." I already answered that. Rodney says, "Sam, love your comments about corporates. Here in New Zealand, even SMEs of 100 people with only 20 million per annum do the exact same thing. Too long to make decisions, don't care about customers, and full of political BS. Things that I hate. Did you put SMEs in the same category when excluding corporates? I've just started your course and it seems you started with small businesses looking to grow. Is that correct? That's exactly what I'm planning to do because I can now solve problems way faster." Yeah, so it's not even like I've got a small business, we've got like 50 people, we make way more than 20 million a year. We are fast. If we make a decision, it'll be on the same phone call. I won't want the proposal, the payment will be made today, it's done. There is the thinking happens in a second, done. We move fast, and I think I want to keep it that way even when we've got thousands of people. You can't really judge it by the size of the company 'cause there are one person businesses that move slowly, I've met them. They want to think about everything and ask the wife about everything, they move slow and they've got one person. Then there's companies that have thousands of people that move fast. You can't use the number of people as the measuring stick to determine who these things are. I think the best thing to do is just focus on people, like aim at the people, and then you solve it because you get the people at the small businesses coming to you, and then you get the big businesses that behave properly as well. The key is not to think about the size of the business, or B2B, or B2C, if you just focus P2P, it solves everything. Sherie Towe says, "How do you load a buyer's list into Facebook to turn out new targeted buyers?" Yeah, so one, you should watch the Facebook training, week five, go through all of it. Then, if you've done that and you still don't know how to do it, then you just go to Facebook, audiences, custom audience, and then you create a custom audience by a CSV file. Then you upload the CSV, it needs to have their emails in it or something else. Then it will match it, and it will create your audience. Sherie Towe says, "How do you deal with clients and prospects who want everything for free?" We don't deal with them, we just say, "Okay, well we don't have any. You can go to our blog or our website or our YouTube channel. That's free. But if you want our product, if you want our programs, they cost money." It's as simple as that. Ishmael says, "I want to talk about my niche. My niche is personal car negotiator because I worked as a sales person in Nissan, Ford, Chrysler, and Hyundai. What do you think about my niche? I asked a lot of people, and they said it's a great idea." Yeah, so don't care what people think. You're asking about my idea of your niche, what I think, and you- PART 3 OF 4 ENDS [01:30:04] Sam: You're asking about my idea of your niche, what I think. And you asked other people what they think, right? Who cares what they think? The only thing that matters is what is the niche? What is their problem? And do you think you can solve their problem. If those things exist, it doesn't matter what anyone thinks about it. It's good, because then you're good, right? So that's why you've got to learn what do I listen to? What do I not listen to? So people in here were saying, "How do you deal with Facebook comments on your ads or whatever? Haters?" I don't know they exist. They do not exist at all in my reality. I don't even know what's going on there. But the things that do matter, solving problems for my customers, adding value to them, improving their lives, that I know a lot about. I focus on that. That's all I focus on. I don't care what anyone says. I do care about what the customers say, right? But everyone else, I don't. Who is your niche? What is their problem? Do you think you can solve it? If you can, do it. That's all that matters. Forget about what everyone else says. Thomas says, "My niche very frequently says that trust is a big thing they struggle with and want to rebuild. They're distrustful in this ales process as well. What are your best resources/tips for creating tips? I know refining the message by speaking their language is very helpful, but I will relentless insist to dig in if you have tips on selling in a trust based way." Yeah, so it's not so much tips and tricks, you know what I mean? People trust people who they feel like they should trust. Right? That's how trust happens. They're very good at calculating that one, because it's not a conscious thought really. They're not running a very simple logic thing where they're like, "Oh, he said that keyword? Oh, that keyword? Yep, that keyword?" Run an equation. Trust. That's not how trust happens, so it's not that simple. It's not just the words you say. It's not tips and tricks. Trust happens very complex ways that we learned who in our lives to trust, people that looked after us and all that. We know who not to trust. All right? And so we're running very, very complex algorithms when we're listening to people trying to understand or determine whether we trust them or not. And so the best way to make someone trust you is to be worth of their trust, to be someone they should actually trust. That's the best way to do everything. People often say, "What's the best way to try and sell people?" Create such a good thing that's so undeniable that people just want to buy it. That's it. It's not about tips and tricks and hacks. It's about adding value, solving their problems. So trust happens when you've been doing something for a while. You know it very well. You are very confident in your own ability to help them. You've helped a lot of people and you've got a good track record, and you know that they should trust you. You know it so strongly that just when they're next to you, they're like, "All right. I trust this guy." Right? That's how it happens. There's no real way to fool people or track them on that. You just have to do it properly. That you just do, all right? You don't try and hack it. You just do it. Lucia says, "I'm a successful mortgage advisor, and business was doing well as my client received free advice and benefits with property investment. Myself built a 17 million property portfolio in five years in Auckland." Congrats on that. That's cool. There are property programs on the market selling between 8k to 50k, and most are rubbish. I set out my mentoring program 25K discounted at 17K on my first event. And sold some, but having trouble getting the first-time buyers to pay. Should I have some lower budget course, then taking people to a mentoring program? You built in five years. There are property programs on the market selling between that. Most are rubbish. I set out my mentoring program ... 25 ... Yeah, so first of all, forget about what is on the market, right? Don't look at the competitors. You don't want to look at what's on the market and any of that. It's good that the things on the market are rubbish. That means that it's good, because if there were things on the market that were amazingly good, and you had little confidence that you could make anything better, it's better that these things are rubbish, and that you have a lot of confidence. That's a good thing. But you shouldn't look at the other courses to determine what you should do. You should focus on who your customer is. It sounds to me like you don't have a clear definition of who your niche is. Is it somebody who is just getting started and they've got no money? Or is someone who already owns the property, and they're looking to get into multi-properties and build an actual portfolio? Is this person a first time buyer? Or are they a mature family looking for the best vehicle to invest their money? Who is your niche? Who are they? Then, when you know who they are, what is their problem? What are they trying to do? Why are they not able to do it, and what is blocking them from wanting to be able to do it and not being able to do it? Figure those things out, and then you should create a program that's the best fit for solving that problem. And depending on who those people are and what problem they're trying to solve, it might be a cheap program, that's $1,000 or $500, and it's teaching people ... and it's more automated and online, and it's how to just get started in this. If it's people who already are making quite a lot of money and they're trying to go from one property, to their second, to their third, then sure, it might be 10 grand, it might be 5 grand, 17 grand, it might be around that price. Now, if you start selling the 25k one, and some people don't have the money, that means that they don't have the money. They're not in the market for this thing. It's fine. If you start selling the 2K one, or the 1K one, or $500 one, and some people don't buy it because they're looking for a 25K, more advanced thing, that's fine. But it sounds to me like you're trying to be everything to everyone, and the only reason you're trying to do that is because you don't know who your customer is. You want to figure that out, focus on them, and just don't look at competitors. Don't look at anything. Just look at your customer, and just do the best possible job you can at helping them. That solves everything. You'll get everything right. You'll figure it all out. Grace Reynolds says, "Good morning, Sam. What is an appropriate benchmark for lead conversions through our Facebook ads, please? I am told 10% is the average for the coaching industry, however my standards say this is way too low. For me, why would I be in business if not converting 80 to 90% at the outset? Is that too pie in the sky? What would be a good benchmark to reach in our first 12 months?" So first of all, I don't know what you're talking about. What appropriate benchmark for lead conversions. I don't know what a lead conversion is. It could be anything. Are we talking about a click through rate? Are we talking about a landing page conversion? Are we talking about the conversion rate from a value video to a strategy session? The conversion rate from a strategy session attending, actually coming on to a call? Or are we talking about our phone conversion rate when we're having a strategy session? There are a lot of different conversion rates. I'm not sure which ones you're talking about, or which one you're talking about. But first of all, it's the wrong thing to look at. 10% doesn't mean much. One thing I can tell you is that almost nothing converts at 80 or 90%, right? That almost never happens, so just forget about that. You're just focusing on does it make ROI. That's the only matter that matters. That's the only number that matters. If you put $1,000 into ads, how many dollars come out of ads? If you put in a 1,000 and you get out 2,000, that's pretty good. If you put in 1,000 and you get out five, better. Put in 1,000, get back 10, now you're doing something really good. But if you put 1,000 and you get back zero, that's not very good. Right? So the only thing that matters is how much money do you put in, how much money do you get out? The percentages are just a dashboard to try and diagnose the different parts of the system to figure out why it's not spitting back money. But your focus point shouldn't be the conversions. It should be, is the machine taking in money and spitting back more money than I put in? That's your main focus really. And try not to listen to standard benchmark numbers across all sorts of things, because you can get confused on that. The world isn't as simple as that. You know what I mean? It's more complex. The only thing that makes it simple is, you should expect to put money into ads and get out more than you put in. That's the only simple way to really think about it. Paul says, "I studied to lose weight for six months. I lost 45 pounds in four and a half months. I was working in construction. People watched my transformation in church. Now I'm helping over 12 people I'm helping for free. How could I switch to paying customers? Facebook ads the next step, right? Any advice?" Facebook ads definitely aren't the next step. You need a paying customer first or three. The best way to get money is to ask for it. So next time you talk to someone who is in need of your services ... Next time you talk to someone who has the problem you solve, so next time you talk to someone who is overweight and wants to lose it, instead of giving it to them for free, tell them that it costs money. And do the exchange for money. And then once you do at least two or three of those, then you're ready to go to ads. Sherry [Taos 01:41:57] says, "How do you feel about working on two to six niches?" I think it's hard enough to do one, so until you've mastered one, why would you do it? I'm still focusing on one thing, and I'm past 35 million. Why would you consider doing six if you haven't even got one client? Charity Brown says, "How about LinkedIn email lists to send email stream?" It's not good. You don't just spam people shit. It doesn't work. Do you like getting spam? Do you like getting an email from somebody you've never opted in for, and do you like that? Do you ever buy from those people? Just run some basic thinking exercises. Do I like getting spam? No, so therefore, will other people like getting spammed? Probably not. So don't do those sorts of things. If you send a direct email to somebody, that's different, because somebody has taken the time to write that email and send it. They didn't broadcast it to everyone. They wrote that to you. Now, that's different. That's fine, same with a Facebook message to someone, or a LinkedIn message to someone. But when it's just spammed out to people, people are aware that you did not take any effort to understand them. You don't even probably know who they are, and you're just spamming a shitload of people hoping for an easy way to make a buck, basically. Donald [Deng 01:43:48] says, "During cold email outreach, should the first touch be to illicit a response and get a conversion going? Or conversation going? Or move straight to the I help X to X by X like you do in the training? I find when the first is just that I help blank to blank by blank message, first my message either end up in the spam box, or we get around to your point, yeah." First message should just be a very simple question to them. It should just be saying, "Hey, I noticed you're in this market. I'm very interested to know, do you have this problem?" Question mark. That's it. Don't talk about you, make it about them. Ask them a question. You're just trying to get them to read it and reply. That's it. That's the only purpose of the first thing. And then, the conversation evolves, and when you think it's appropriate to take it there and start telling them about you, you do that. But you never start a conversation just talking about you. Not unless you don't know what to do really. Charity Brown says, ... I already answered that. Andy Fine says, "Hey, Sam. Although the DM bonus talks about outsourcing work. Do you think it might be better to learn what you're delivering on a smaller scale first by doing things yourself, and then start to outsource as you scale?" Depends what it is. For example, we used to do a lot of WordPress websites for people when we first got started. I thought, "Should I go and learn this WordPress website business?" But I figure it wasn't worth learning, because I knew it wasn't the creator of a lot of value. There's a lot of people that can build Word Press websites for really cheap. It's not the coding of the WordPress website that really delivers the value to the customer. It's mostly the composition of elements, images, text, and things on the page that makes the page work well, so it's best to learn that instead of the code. And then what's even better than that is learning how to drive traffic and all of that stuff, right/ so I figure I'd best learn how to create a good website. And then how to get somebody else to code it for me. That I learned. And then I learned how you build a good landing page. How do you get conversion rates to work? How do you track things? How do you run traffic to things, right? Those things are worth learning, absolutely. They're valuable skills that can make you a lot of money, and they're rare. And they're in high demand. Those things are worth it. Coding the thing, not so much. That's how I would decide it. Stefano says, "I help people who don't have time like entrepreneurs, or accountant, or lawyers to obtain their best body and lose weight in less than four hours per month using high intensity training like heavy duty and other methods. What do you think about the niche of fitness for people who don't have time?" What I think is whether it's what they think. That's honestly my answer. So if they like it, and they buy it, and it helps them, I like it. If it doesn't, it's not a good idea. You're looking to me to find out what you should find out from your market. I would find out from them, because I could say, "Oh, yes. This is a great idea." And it might not work. Or I could say, "Oh, yes, this is a dumb idea. And then it might be a really good idea. Either way, if I tell you an actual answer, I'm lying to you really. I think you should try and offer it to them. You should start doing it and see what happens. But if you're asking are there people out there in the world that don't have time and want to be fit, that absolutely exists. You just got to go and do it. Try it in reality. Chaz says, "Hey, Sam, I'm in a career consulting niche helping young professionals who are underpaid or unemployed find and grow successful careers. Although just starting out, so far, some people seem to get offended by spending $1,500 to hire a coach. They seem to rather figure it out themselves although it's obvious they need help. Is there any way around this obstacle? Yeah, so it's just what happens when you get started, right? You just haven't figured this thing out yet to a really good point that you've mastered it. It's like riding a bike for the first time. It's a bit wobbly, but just because when we've tried to ride the bike the first time, it's wobbly and we fall off, doesn't mean that the bike doesn't ride, and it's impossible. It means we just need practice, and then it rides. This is all that's going on in here. It doesn't mean that niche doesn't have money. It doesn't mean that that niche isn't open to spending money on coaching. And it doesn't mean that you should stop doing it or anything like that. It means you just haven't figure it out properly. The only way you can figure it out properly, is to keep doing it, the bike. You've just got to keep trying, trying, trying and you'll figure out, "Ah, less of that, more of that." Oh, say that thing, and then make more of a point about this thing. This thing no one cares about, don't talk about that. You'll figure it out. You just need to keep going at it and learning. People will always pay money to solve their problems if they're confident that you have the solution to it, right? They're probably not clear what your solution is. They're probably not clear that they should trust you. And then they might not even be clear that they have the problem that you say that they do. These things will be happening, and once they're made clear, it'll work. Arianda says, "Hey, Sam. My niche are cosmetic dentists and plastic surgeons. I created my wall map, but I honestly cannot send 10 direct outreach emails in one hour. It takes me longer. Is that okay?" Sure, it depends how much longer, right? 10 in an hour is six minutes each. You can write quite an email in six minutes. If you can't write an email in 10 minutes, you're doing something wrong. It's probably too complicated, too long, or something. You should be able to do one in 10 minutes. I'll accept an email in 10. I won't accept any more than that. It's too long. Mohamed [Sharif 01:51:02] says, "What is the best action if someone is interested in the offer, but is a bit nervous about giving their account log in info?" So, I'm not sure. "What is the best action if someone is interested in the offer, but is a bit nervous about giving their account log in info?" What log in info is someone giving you? When do we ask someone for their log in info for anything? Or maybe if you're asking about the Facebook log ins, they're not even really giving you their log ins. I'm making a wild assumption here that you're actually doing Facebook ads for your clients, and part of that is that they're going to have to give you access to their account. You might not even be doing that at all. If you are though, they keep their account. They own it. They just add you as another user, which they can delete, remove. They're not even telling you their log in or their password or anything like that, so it's safe. Brad [Bela 01:52:07] says, "Would you recommend going all the way through the consulting accelerator training, which takes at least seven weeks before considering up level?" It depends. It depends on your situation. It depends what you're trying to do. It's not as simple as, "If you've gone through accelerator, you should do up level, or if you haven't, you should do accelerator first." I would watch the videos in week seven. So go to week seven in accelerator. Watch the three videos there. And then it'll be clear what you should do. Brad also says, "It's easy to see how business to consumer models will lead to courses. But are there any types of B to B consulting businesses that don't work well with courses? Or can any type of consulting lead to courses eventually?" Dude, what's confused you is you're looking at this B to B, B to C thing. It doesn't exist. Someone made it up, and it caught on, and it's a lie. It doesn't exist. It's P to P. People to people. I've never bought something from a company that had no people in it. I've never seen a company without any people in it buy something. It's always people. And so what you need to do is you just need to focus on the people. I have a business, right? So if I buy something, is that B to B? I still buy something as a person. I put my credit card info in. I buy courses. I buy courses for me. I buy courses for my whole company sometimes. I buy courses for specific people in my team. I do it as a person. Then I sell courses to people who don't have businesses. I sell courses to people within businesses. They all buy the same damn way. It's just people, people buying things from other people. Sometimes it's people in a business that buy things from other people who might be in a business or not. It's all the time people. The other thing someone made up that makes no sense. Sebastian [Bujakma 01:54:19] says, "I am close to proof of concept in my current niche, digital marketing for restaurants. One client right now, but I'm not passionate about it. Would you recommend switching to a new niche that I'm passionate about and can help? Digital marketing for singing teachers?" I think you should do what you think you should do, seriously. What' interesting about the way you stated your question is that you put it in brackets. People always put in brackets subconscious things that ... So you put it in like, digital marketing for singing teachers. That's quite unique. It's very different from restaurants, so I'm guessing you chose restaurants because you thought it's what would be a good niche, or you saw someone else doing it, so you thought you should do that too. But what you're really passionate about is singing teachers because you sing yourself, or you have an affiliation with some background or person in singing. And if that's true, I would absolutely go and do the singing thing. You'll be more successful in the thing you're passionate about. So do that. You'll know what that is more than I will. Raff Goldberg says, "My niche offer result hypothesis is I help kitchen contractors to get more kitchen renovation jobs each month by sending up their Instagram advertising campaign and managing it on a monthly basis. Does that sound like a sexy offer, or not? And thank you for your course. I dropped out of high school, and was washing dishes before I got your course, and picked up my first client." Let's analyze this more in a simple way. You help kitchen contractors. That's the niche. What's their problem? I'm guessing you've talked to them, and you've found out that is they want more kitchen renovation jobs. Makes sense. Now, what are you going to do? You're going to help them get more kitchen renovation jobs? You must have thought, "I think the best way to do that is Instagram." Hopefully you had some kind of research and testing, and some basis on why you chose Instagram. I would honestly ... This is what I would do. If it works, I would just try and do it for your first client. If it works, it works, then it obviously is good. You should do it. But what I would do is I would find the best kitchen renovation businesses in the country. If you don't know what they are, ask your client. Be like, "Who is the king of this space?" Find out who it is. There's always someone who's doing the best in something. Find out who they are, and then find out how they're doing it. And then how they're doing it should give you clues as to how you should do it for your guys. And whatever that is, do that. Don't be married to Instagram. Don't be married to Facebook or YouTube. I have no attachment to any of these things. These things don't mean anything to me. If Facebook stops working and dies, I won't even flinch. If YouTube does, don't care, Instagram, couldn't care less. All I care about is just what's going to work best for my customer to get then the result they want, and whatever that is, I'll do that. Never have any attachment to the means. Only ever have an attachment to the end that you achieve through a means. Then, that way, you'll never be biased in choosing the tool you'll use to get the outcome, because if there was an accountant that was still attached to an abacus in the face of technology and spreadsheets and accounting softwares, that's pretty delusional. There are better ways to do accounting than an abacus. And if a dude was still attached to using a feather pen with ink in it, and there's a computer, then it's kind of stupid too. Don't be attached to the tool. Be attached to the result and choose the best tool to get the result. That's what you do. You've just got to find out what the is. The best way to find out what the best people are using as their tools. And then, yeah. All right. So we're at five o'clock now. So we usually do these things from three PM to five PM every Saturday. If you enjoyed this, just click that like button. Give me some feedback. Let me know if you enjoyed it. And also, if you asked a question and I didn't get to answer it for you, then you probably joined this call too late. There were people who asked me multiple questions. I swear some people asked me 12, 13 questions. If you want to get an answer from me, show up on time, three PM, New York time. Put it in your calendar all right, and then show up early. So thanks, everyone, for attending this call. Happy to answer your questions, and I wish you a good weekend. Hope you have a good Saturday, and I will speak with you next week. Thanks. PART 4 OF 4 ENDS [01:59:39]

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