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

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

Summary

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

Transcript / MP3

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Sam Ovens: Alright. If you guys that are on, just let me know if you can... if my audio and video is good. Video looks a bit dark. Can you hear my audio? Just let me know if you've got audio and video working good. Just a little bit dark. There's a bit better. Awesome. Just can see people jumping on. Awesome to see [inaudible 00:01:18]. "I'm going to be sending in my testimonial, I'm almost at one million dollars this month." Nice work, dude. Cool well today, I don't really have... Yeah, someone's saying it is a bit dark, and it's annoying me, so just let me close this blind a bit. I think that's a little bit better. Cool. So I don't really have anything specifically planned for this call. I just thought, I mean, it seems like what people got the most value out of on the last one I did last Saturday was just answering people's questions and doing some Q and A. So I don't have specific things planned or anything like that. One thing I will say, though, is if you haven't followed me on Instagram yet, go do that now. The page is Sam Ovens. Because I post stories every single day behind the scenes of my life and my business and things like that. Cause from the customer survey, one thing that a lot of you guys said you wanted was more human interaction and to see behind the scenes of my life and my business and what goes on every single day. And the easiest way for me to share that is on Instagram via the stories, so go on your Instagram app right now, search Sam Ovens, follow me there. And now, let's just do some Q and A. If anyone's got questions, just say what your question is, and we will start going through some stuff. So Austin says, "Can you talk about your mediation process?" It always cracks me up when people ask me this because a lot of people are obsessed with "what meditation are you using, what technique are you doing, do you have any technology, do you have a special pillow?" Or any of this stuff. And I don't have any of that. I just sit on like a comfy little chair thing that I've got, on the edge of it. And I do it every morning before I start work. I do it for 20 minutes. All I do is just sit still with my back straight, close my eyes, and focus on my breathing through my nose. I don't think about anything. It's just doing nothing. Meditation is the practice of doing nothing, thinking nothing. You shouldn't be trying to add things to the practice. The idea of the practice in the first place is to not have anything in it. I don't use any special type of meditation, nor have I really read about it or anything. It's the practice of doing nothing. That's all it is. It's very, very simple. Khalid says, "In the early days, did you use AdWords, or Facebook to grow your business?" I've always used Facebook. In the early days, when I was doing digital marketing consulting, I would sell quite a lot of AdWords to people. We would sell AdWords to a lot of local businesses because that's what they wanted and needed, but I did mostly Facebook advertising for myself. Mary says, "How did you outsource your digital marketing?" It's kind of like a hunt, and it's a process. If you want to outsource your digital marketing, you've got to invest some time into trying to find good people. And one thing I think you should understand is people think, "I'm wasting time by trying to find these people and sifting through people, trying different people out," but it's not a waste of time. Because think about how much time you're having to find doing it. When you find the right person, you don't have to do any of it at all. Whenever you're trying to find any good person at anything, good people are hard to find, but they're well worth looking for every single time. You've just got to look. The best places to find people is in Facebook groups. These days, like 2018, you're going to find the best people in Facebook groups. So if you're trying to find a Facebook person, go into one of the Facebook Media Buyers Groups. There'll be a few of them. Go in there, post in there, say who you're looking for, start having conversations with people, and you'll be able to find someone. Also, don't look for like a ninja in the beginning. If someone's a true ninja at Facebook or AdWords, they're gonna charge like 10, 20 thousand dollars a month. There's no way you can pay that, and there's no way you can buy that wholesale, and sell that to your clients, and make a profit. You're not gonna find an absolute ninja. You've gotta find someone that knows what they're doing, and they're way better than the average person, and then you can work with that person, and you'll both get better together. You've gotta understand that you're never gonna hire someone and have them perfect right away. You just want to find someone who has the desire to be perfect, and they know the basics, and they're hungry to get perfect. So Robert Murray says, "Question. I've been calling friends and past clients and asking them for referrals, is this a good method to attract clients?" Yes, I mean, it definitely is. If you have... referrals are a great way to do business, and if you've helped people in the past, then they're not gonna have any sort of objection when it comes to referring you to different people. So it definitely is, but it shouldn't be a replacement for the other things that we teach you how to do like direct outreach. In the early stages, direct outreach is definitely gonna be how you're getting your first few clients. Everyone who I've ever taught that's done well, they've always got their first clients from direct outreach every single time. So Mark says, "Talk about PR versus marketing and why PR comes first." I don't think it comes first. I think getting customers comes first, and whatever it takes to get that, that's the action that should come first. I haven't really done any PR at all. So Dylan says, "What is your approach to find the best topics to learn from and to add the most value to yourself and clients?" So this is a good question. Typically, for me, I wait until I have a problem before I go and learn something because that's when you are going to be most receptive to the ideas and everything in there. So I'll give you an example. Recently with my business, we've grown to be quite a lot of people; we've got like 50 people or something now. We've got two offices, one in Ireland, one over here, and there's a lot of moving parts and everything. I'm totally new and foreign to all of this. It seems to me very complicated and kind of overwhelming, so the books I've been reading this week to try and get my head around that and get ideas, and understand what should I do is a lot of things to do with simplifying. I'll give you an example. I've got the books right here. These are the ones I've been looking through right now. There's this one. This one here's real good, "Essentialism," because it's all about simplifying and focusing on the essential. And we've got "80/20 Sales and Marketing." Another good one. "The 80/20 principle." Another good one. Then you've got this one here called "Simplify." Another good one. This one's a really good book, too. "Getting Real." Good one. And this one's a good one, too. "Rework." Because in my business I've been getting a little bit overwhelmed with all of the people and all of the moving parts, I wanted to simplify it, and I wanted to make sure that we weren't doing anything that we shouldn't be doing, and making sure that we're focusing on the right things. The first thing when you're trying to learn is to understand the problem that you've got. Then, you go looking in different books and you learn about that stuff. What's cool about reading books when you've got a problem is that everything speaks to you differently. You read something, and you're like, "oh my God, that's exactly what I need to do," and you circle it, and then you write a little list of all the different things you've got to do. That's the difference. If I was to read those books without having some specific thing to relate it back to, then I probably wouldn't come up with that many different ideas, and I probably wouldn't be as motivated and energized to read through the content as well. So Khalid says, "In my market, it's not possible to have a job and start a business at the same time, and a trade license costs a minimum of eight thousand." Well, everything's always possible. Of course, it's possible to have a job and start a business at the same time. You just might not be able to work as hard at the job, and you might not be able to have the same lifestyle and sleep at the same time, but it will be possible. And if you need a trade license, I mean, I'm not sure what niche you're in. So tell me what niche you're in because it seems strange that you have to pay eight K for a trade license. I mean, there's always ways around things. Like Uber in New York. With Yellow Cabs, you're supposed to have a license to operate a taxi business, and those things cost like 300 grand. Then Uber just let anyone come in and be their own taxi driver. There's always ways around things. You've just got to look at it, and focus on it, and figure out how you can get around the system. So Alexander says, "Sam, do you recommend reading books about your niche? Basically what they do and everything, so you know their work good enough so that you can speak the same language." Yes, that's a start, but remember that nothing is ever going to compensate for talking to them themselves. Nothing will ever compensate for that, and you're going to have to do that. Like I know my niche quite well because number one, I used to be where you guys are, so I know it from memory, and so I know that. And a lot of the products I build are really to help me at previous times, and then people who are in those situations like me, it works for them, too. But more than that, I've also helped a lot of people, and I understand them. I know the market quite well. But even still, I still need to come back to the market and talk to them personally to make sure we're on the same page. Because as I've started to run my business, and get bigger, and step further away from the front lines, I sometimes forget about the problems and frustrations and everything that the market has day to day. That's why I did the survey. Now what I'm doing is I'm talking, I'm interviewing a customer every single day from now on except for Saturday and Sunday. So every day at nine a.m. in the morning, I'm interviewing a customer for 45 minutes. Basically, anyone who's had success with the program, going through and interviewing them. I'm doing it for a few reasons. The first reason is to give you guys a better understanding of other people's stories, and how they've come into the training, used the training, and been able to get the result. Because I was thinking about this the other day. The Consulting Accelerated Training Program it's like a framework. It tells you the framework to use, and it tells you the structure, and how to build a consulting business, and all of this. It's got that covered. But where all of the inspiration and ideas come from and all of that; quite often, that comes from other people. Seeing how they use the framework. And I'll give you a good parallel example is the IOS App Store. Apple's got the IOS App Store, and if you want to develop an app to put in the app store, you can go and read Apple's documentation, and that will tell you about the framework and the development language, and all of that. But where do most app developers get their ideas from? Where do most app developers get inspiration and ideas from? It's from other app developers by looking at their apps. So that's one thing that I really became aware of when I looked at the customer survey, and that's why we're gonna start interviewing customers and making those interviews available to you guys, so that you can see what other people are doing, how they've used the training and all of that. Because that will give you inspiration, confidence, and it'll also generate ideas for you into how you can pick your niche, and how you can do different things. Because a lot of the time, someone comes into Accelerated, and they think that they might choose digital marketing for dentists as their niche because they assume that dentists have quite a lot of money. Then they see that other people are choosing niches that are to do with porn addiction or irritable bowel syndrome or totally different things like this. Then they're like, "oh, wow, that can work?" Then they get an idea to do something else like video game addiction. Then, that ends up helping them to get really good results. So there's countless examples of people coming into the program with preconceived ideas, seeing what other people are doing, and then totally changing tact and succeeding with that. I want to help create an environment where it's more visible what people are doing, and it's more visible what journey people have gone through, so that everyone can learn from each other as well from me and the content. So Mark says, "PR should always come before advertising. Advertising doesn't build your brand; it helps you protect your brand. The trick isn't to hire creative. Would you agree?" No, I don't agree. The only thing that's important is having customers, and helping them, and getting them results. That's the only thing that's important. And that's what really builds a brand. No brand exists because of just PR or because of just their design or their logo or anything. Most brands exist because customers are using products and services and they like them. That's really what builds it. PR, I've really just ignored it. I don't really care much for that at all. So Christian says, "Sam, I'm seeing lots of admins in the Facebook group as clients of yours. Should I stay out?" I don't really know what that means. You can just shoot me a private message and explain what you actually mean there. I'm a bit confused. [inaudible 00:21:17] says, "Loved the idea last week of Q and A calls every day." So Alicia says, "I'm having trouble going in too many different directions." Yeah, this is what lots of people have problems with. What you've really just got to do is, you've got to focus. And the easiest way to focus is to define, first of all, what is it that you actually want. What are you trying to achieve. Then, once you know what you're trying to achieve, then you've got to look at all of the different directions which you're going, and determine which one of those is most likely to get you to where you want to go. Then, once you've identified that, then just don't do any of the other things. Neglect them, let go of them, delete them, and just stick to that one thing. So Adelina's liking this video. Awesome. So Cody says, "Sam, I've hit a brick wall after my first client. I understand that I need to do X to get another client, but I still don't do it. I don't know if it's just laziness or feeling like I'm not worth doing this. Is there anything you know that I need to do, and if I don't do X, I'll keep failing." Yeah, so you already know what you need to do. You're already telling me in here. This is what most people have a problem with. They know what they need to do to get where they want to go, but somehow they don't think that they can do the thing. It's really just your comfort zone. You're comfortable where you are right now; you've gotten very used to it. So now, with any sort of change is gonna bring resistance. Whenever you change the state of something, it has a lot of resistance. It's just normal. It's a totally normal thing. You just have to understand that, and then just do it. It's like ripping off a BandAid. The more you think about it and the more you procrastinate about it, the worse it gets, and the less chance you have of doing it. So you've just got to do it. So Zani says, "I'm at the point now where I need to show my value and show why my clients need to hire me. Any advice for ways to make my messaging so clear, as my clients want to work with me immediately? I'm a travel life coach." Honestly, the best thing for you to do right now is to get on the phone and to try and sell people because that's were the best market research comes from. That's where you're gonna learn everything, that's how you're gonna make your message better, that's how you're gonna make your offer better, that's how you're gonna make everything better is by getting on the phone and selling it. Whatever you've got your message as written down right now, that's fine. Now, let's take it onto the phone and start saying it to people because you can't improve your message without the feedback of the market. You're just stuck in your own mind doing a loop. You're trying to iterate and test something which you can't do. So you need to put it out there in front of people, and the more you do the better. It's like lot's of people say, "I'm not good at sales," or "I don't like doing sales," or some stuff like that. That's bullshit. Then, my next question is, "how many sales calls have you done?" And they're like, "oh, two or three." Of course. Who's good at something after three gos. I haven't seen anyone really get that good until they do 100. I haven't seen anyone become a ninja at it until they've done 1000. Andrew Argue and Josh Harrison and all of them, they've done more than 3000. So how do you get good? Practice. If you might think, "oh that's gonna take so long to do." You can do five a day easy. If you do five a day, and you work five days a week, that's 25. And 25 a week, that means in one month, you've done 100, so you can get good in a month. So Dee says, "Hey, Sam do you take any neurotrophics? If so, what's your favorite supplements for helping with cognition? If not, why, and what do you do to stay focused?" No, I don't do any of those things. What I like most is just the basics. Everyone always obsesses over these complex things. It's like people who go to the gym. They try and go to the best gym, then they try and have the fancy shoes, and then the fancy gym bag and all of this crap. Even with meditation, people wonder what type of meditation you do, what books you've read on meditation, what app you've got for meditation, and all of this crap. Same thing with neurotrophic things. You still dudes who still drink alcohol, who eat bad food, drink sodas and things, then stay up late and don't sleep properly. Then they're like, "yeah, these neurotrophic things are awesome." That's stupid. That's like cooking dinner for people, and burning the chicken, completely burning it so that it's like charcoal, but then having the nicest knife and fork to give them. You're missing the main point, and you're obsessing over something that's really not that important at all. The best thing for focus is probably sleep. We've measured everything. I've got a full-time trainer who lives with me in my own house, tracks everything, literally every metric. We've tried different things like diet, exercise, all sorts of stuff, and nothing makes as much difference as sleep. You can get your exercise regime perfect, you can get your diet and everything perfect, but sleep makes more difference than all of that other stuff combined. If you want to focus on the power law of focus; it's sleep. So you want to make sure that you're getting at least eight hours a night. You should order one of these things. It's called an Oura Ring. O-U-R-A. And you can see it tracks, it's like an electric thing; it tracks everything. And you want to make sure that you're getting eight hours of sleep a night. You want to make sure that you're going to bed at the same time, waking up at the same time, and you want to make sure that you're drinking lots of water, and you're exercising at least four or five times a week, and that you're eating good food. If you just get those things right: water, food, sleep. Then, screw the neurotrophics, you're gonna be way better than anyone. You've just gotta focus on the main thing. Section 1 of 6 [00:00:00 - 00:30:04] Section 2 of 6 [00:30:00 - 01:00:04] (NOTE: speaker names may be different in each section) Sam Ovens: -You've just gotta focus on the main thing. Dylan says, "Question. What habits, if created today, will produce the greatest impact on the rest of our lives?" I don't know the exact answer to that. I can give you some suggestions, or some ideas, but I would say it would be ... Habits. One habit is ... I'm just thinking. This is a good question to ask. I think, probably the best habit would be self-auditing, and introspection, and self-analysis. These are all the same thing, by the way. Really being good at reflecting on things that have happened, and reflecting on what you do in your own life, and in your own actions, and all of that, all the time, and being totally honest with yourself, and fact checking yourself. I think that is the most important habit that you could possibly have. Most people, they don't do that at all, they're constantly just kind of in a daydream, or they're totally delusional. They don't ever stop to think about what they do in their life, and what their actions are like, and whether those actions are aligning with their goals, or any of those things. The people who I see, who are really successful, they do that to a level that's far beyond what most people do. With me, I pretty much try to do it every day, just pause, and reflect on things, and think what's going on. McBilly says, "Sam, do you think it makes sense to pursue digital marketing in a niche even if you're not passionate about it, just to earn money first, especially if you're in the survival stage of your business, and then slowly transition and try to figure out a passionate niche? I'm passionate about fitness and personal development, but I don't have a good proof of concept on that. I would just go straight, and I'd do digital marketing for the things you're passionate about, fitness and personal development. A proof of concept is almost the same in all the different niches, just a few different variables change. That's how Consulting Accelerator works for so many different niches. You're most likely to do well in something that you're interested in. So, I would do that right now. One thing I do is I constantly watch documentaries about the greatest people of all time like Usain Bolt in running, sprinting. Then, Lance Armstrong in cycling, and then Michael Jordan and Kobe Bryant in basketball. Mike Tyson and Muhammad Ali in boxing. Even mountain climbers, and all of that. I'm constantly ... Even musicians like the Beatles, and Michael Jackson, and stuff. Trying to just study them and understand what they did to be the best. Michael Jordan says ... In the start of his documentary, they say, "Michael, what's the secret to being the best basketball player in the world?" He says, "It's to fall in love with the game." Then, they ask him later on in the interview, "Michael, what's the number on thing that we should teach our kids if we want them to be the best basketball players of all time?" He says, "Just let them fall in love with the game, because once you do that, it's already done." The people who do the best at things are the people who love it more than anyone else. That's because it doesn't feel like work, and no one's counting the hours, and they're doing it every waking minute. They don't have to grind, and push themselves, they want to. That, I would just go straight into that. Anthony Turnbull says, "How many islands have you bought, and do you have a private helicopter for each island?" I have zero islands, and I have zero helicopters. Colin says, "My market is Dubai, to open a trade license, it's a must to get a no objection letter from your employer. My employer is not agreeing. I even spoke with a lawyer about it. My niche is digital marketing. I'm doing digital marketing for plastic surgeons. Can you start, for now, without a trade license?" You shouldn't take this as qualified legal advice, but I'd just do it. The truth is, if you try and play by every single rule, and follow all of the rules all the time, you're never going to be able to start. You're never even gonna be able to move, because even to know what all of the rules are, you've gotta read the law, and the law is like this big, and there's things in there, which are totally pointless, and useless. You're never gonna be able to move. If you have to talk to lawyers about every different move that you're gonna make, you're never gonna be able to move. Really, you've just gotta have a really good sense of judgment like, "Is what I'm about to do wrong?" The best way to figure that out is, is anyone getting taken advantage of? Is anyone getting hurt, or is anyone at risk of something? If the answer to any of those things is no, and you're not clearly breaking a law, then you should just do it. Most of the time, if you're not supposed to do something, someone will just give you a warning anyway. You can always take it back. Forgiveness, not permission. I'm pretty sure most companies have employment agreements that say, "You're not supposed to work on anything business related that isn't our business." What a load of shit. Of course, someone's gonna. You can't enforce that. Even companies put in their contracts a lot of the time, "You can't even work for another business if they're a competitor of ours." Those terms never, ever, ever hold up in court. It's pretty much like the lawyers just throw them in there, because they may as well, but they don't work. You can't stop someone from having free will and from doing what they want. It's a different story if you are working on your digital marketing business at the office during work hours on the work computer. That you shouldn't do. After hours, you can do whatever the hell you want. Sandy says, "Last week, you talked about not having a long list of female entrepreneurs, because like attracts like. I'm a 58 year old female. I feel like a fish out of water, and now I know why, but I still need to learn to swim, and use my uniqueness to my advantage." I think you probably read too much into that one statement that I made. You just need to do it. Just start whatever you wanna do, and stop thinking of reasons why you can't, and stop thinking of excuses, and stories, or anything like that. Just do it. Just get started. People have become billionaires starting businesses at 58. There's one in New Zealand called Michael Hill. He was a watch mechanic, or whatever the hell they call those people, at a jewelry shop. He didn't own it, or anything, he was just working there fixing watches. Then, he decided he wanted to start his own, and he was like 58, and he did, and now it's called Michael Hill Jewelers. They're huge. He's worth billions, multiple billions. There's no reason why you can't. Zima says, "Do you need to create a website first, or can you start off with Facebook ads, and other digital marketing tools?" You don't need anything to start. All you need to do is pick a niche, do some research into it, find out what the problems are, and then come up with something, which you believe is a solution to that problem. Get on the phone with people within that market, and tell them what you've got, and try to sell it to them. You don't have anything until someone buys something. That's all that matters. Grant says, "Hey Sam, I've got an online training program, already sales are sporadic. How important are reviews to the growth of a program?" For example, they're not the main thing. If you have reviews, or don't have reviews, it's not gonna make sporadic sales consistent. It won't do that. It will make your sporadic sales maybe a little bit better, but they will still be sporadic. The source of the problem that you have is you don't have a proper system. To make money consistently, it needs to be a system. It has to be a machine that has been designed, where there's inputs, and you know the output of those inputs. Then, you just feed the machine the inputs, every day, and then the outputs keep coming out. That's the only way to make any business predictable, is with a machine. I bet you don't have that. If you do have that, then I bet you don't have numbers to govern the performance of your machine. When you have a machine, you need to govern it with numbers, and understand it, so that you make sure the right inputs are going in, so that it can get the right outputs. I will give you an example. For my Consulting Accelerator program, if I want to make $40,000 dollars in a day, every day, even Sunday, all month long, I know that I need to generate roughly 1,000 webinar registrations. There's an example. If I all of a sudden, one day, don't make sales, or five days, I don't make many sales, I pretty much know immediately what is gonna be the cause of that. I will go in, look at it, and sure enough, there will have been a decrease in the number of webinar registrations. You need to design a machine, a system. I will give you a good example for if you're selling consulting and you're doing strategy sessions, the two main components of that machine is ... Really, it's just strategy sessions. It's so easy, with the business the way I teach you how to do it, because if you're not making money, then I can guarantee that you're not doing strategy sessions. If you are, you're not doing enough of them. That's pretty much it. That's how simple it is. If you're not making money, and don't have clients, well, you're not doing strategy sessions. If you're not doing strategy sessions, then you need to start doing strategy sessions. How do you do that? Well, you do direct outreach, you use organic methods, and later on, once you've done that, you use paid methods. It's that simple. No one ever has done consistently, strategy sessions, and not made money, and hasn't got a client. It really is that simple. Mark Carey says, "Do you have any tips for Facebook and Instagram intelligent ads?" All my tips for Facebook is in week five, Fractal Facebook Evolution. I share the five ads of mine that have made more than a million dollars each. I share exactly how to do Facebook ads. I would just look there. Ryan says, "Is targeting specific business owners with similar religious affiliation a good niche?" I don't know, maybe. It seems to work with Jews, they do that all the time. It totally depends on what the religion is, and whether they care to work with other people of the same thing. If they do, it can be a good start, but I don't know. I do know that does happen a lot with some different religions. Melvin says, "I've got 5,000 emails ready to go, should I put the link for the value video, or attempt to get them to schedule a strategy call?" Value video. If people aren't indoctrinated in some way, shape, or form with that, then the call is gonna be all over the place, it's not gonna work properly. You have to have people go through that, so that they know what the hell's going on. [inaudible 00:47:12] says, "Hey Sam, I've been meaning to ask you, I know how you've spoken about targeting specific clients through your niche to work with Facebook ads. Once you have a client through, say, dentists, how do you go about targeting a specific type of holy grail client for your clients, i.e., much like you did with the hot water cylinder repair plumbers in New Zealand?" This one is so simple. You don't know, because you're not them. You've just gotta talk to them. I wasn't some genius that got out a piece of chalk, and went up to a blackboard, and did a mathematical equation to figure out that hot water cylinder repair jobs should be the perfect client for plumbers. I was just sitting down with a plumber, and I said, "What is the absolute, sweetest, best, cream of the crop client for you to get? What type of job?" He thought about it, and he was like, "Hot water cylinder repairs." That's how it happened. It's gonna come from their brain, not yours. All of the best everything comes from the market. That's where all of the intelligence is. The really intelligent people, I've realized, they don't know anything other than how to find out from the market. Our traditional education system teaches us that we need to memorize facts, and memorize things, and that we're the source of intelligence, and that's how it works. That's not true at all. True intelligence is knowing how to know when you don't know. The best way to do that is to go to the market. How do you know what's the best client for your client? Ask them. How do you know what niche to pick? Do some research, talk to the market, find out what their problems are, solve one of those problems. That's where it's always gonna come from. When I sat down to think, "How am I gonna make Consulting Accelerator better? How am I gonna make this program better? How am I gonna get more people results?" I thought up some ideas, but then I didn't have much conviction in these ideas, I had a lot of doubt. I thought, "What am I doing? I need to just talk to the market. I need to ask them. The ideas will be in their head." We did the survey, sent the survey out, got the results back, then I could see what they wanted, and then we came up with some ideas to do that. Just remember, it's always gonna come from your market. Bobby says, "Hi, Sam." Hi, Bobby. Nicholas says, "Hey, Sam, I started an agency in digital in Edinburgh, moved to Dubai, started an agency there, now I'm back in Edinburgh. I have been a journalist, and had success, however I would like to eventually move into coaching pro rugby players in other areas of life. You have had experience in changing industries. What are the top three things I can do to help this transition?" Try to sell it to someone. Come up with your idea, and why they want it, and then just go try to sell it to some professional rugby players. Keep doing your thing, because it's working, it's making money, but just go and pitch them it. Start talking to them, see what they say. That's the best way. Jennifer Mason says, "I'm now starting to get some traction from organic Facebook posts and groups. I've added lots of similar groups to keep posts going. I've got one paying customer for sure, and a few are probable. I'm not quite in the pay for ads stage, yet. I'm looking for other ways to attract organic customers for coaching. Can't look up people in phone-book, et cetera." I would just do more of what you're doing, like post more. Find more groups, post more in them. Then, also, just widen up the net a little bit. Right now, if you're only talking to people who message you, the way you can widen up that net, is you can think what is closest to that. It would be people who commented on a post that you did. Instead of just waiting for people to reach out to you, find people who commented on your post, and then you can reach out to them. To widen the net even further, it would be people who liked your post, then you can start reaching out to them. That's how you do it. You think, "What action is closest to this action?" Then, you widen the net to see if that works, too. I do that stuff all the time. What's a good example? We tried running ... We've got retargeting ads that re-target people who attend our webinar. It's done based on, we create an audience based on how long they watched the webinar for. In the beginning, we were only generating that audience based off people who saw the call to action in the webinar, which comes in at like two hours, or something. It was a small segment, because only 33% of people who attend the webinar, stay to that point. The ads were profitable, like very profitable. Then, I thought, "How could we get more?" I thought, "Why don't we try people who just watched like an hour and a half of the webinar?" It wasn't quite the two hours, but let's try it. It works. Alright, screw it, one hour. Works. 30 minutes. Works. What about people who just attended? Works. You've just gotta keep widening that net out. Ermius says, "How do you handle conflict of interest in a specific niche? Wouldn't we also be promoting their competition? If you have several plumbers as clients, and they all want to rank high on Google, and they all want hot water cylinder clients." This is a classic beginner's worry. It's not factual. It's not real. The truth is, is that no one plumber can buy all of that advertising space. No plumber is gonna spend enough on AdWords to constantly be there, at the top, for every single time someone types in that keyword. Not gonna happen. It's not a legitimate fear. Even if they did, which they won't, because they won't spend that much money, then they don't have the team to do that many jobs. It's not a factual reality. It's just an irrational fear. Melvin, I already answered your question. Dee says, "You make a good point." Ryan says, "I'm a 28 year old nurse going into grad school to become a nurse practitioner. Can you get results with half the time? Does consulting work as supplemental income?" Yes, it does. Obviously, if you put in half the result, you're probably gonna get half the outcome, but that's fine. Even half the outcome can be way more money than you make at your job. It's absolutely possible. You hear of people who have like three jobs, and then there are single mothers that are looking after like four kids, and then they decide to start a business. They still make it happen. Of course it's possible. Somehow Elon Musk created a payments company, and an electric car that's faster than gas, petrol driven cars, and a rocket company that's better performing than NASA, all at the same time. If a dude can do that, surely a dude can be a nurse, and get some consulting clients. Definitely all of that, Ryan. It's awesome, get it. Ben Clifford says, "I am almost eligible for long service leave. Do you think I should take three months of full-time leave, or one day per week for 12 months? Currently at the end of week three of the course." Just do the three months, because there's nothing better than just total immersion. If you ever want to get something done, you just have to just submerge yourself in the thing, and you'll get it done. That's my tactic. If I wanna do something, I don't do anything else. I'll giveaway my phone to my wife, and won't look at it, won't do anything other than just what I need to do. That's my coping mechanism, really. I think one day a week, you might just get into the groove of things, and then the next day you gotta go back to work. If you have that option, I'd use the three months, and go all in. Jonathon says, "Hey, just wanted to pop on and say, 'Thank you for your results driven training. Your organic traffic methods, and especially the sales scripts have been game changing. Within the last two weeks, I sold to three of four clients.'" Cool. So, not really a question, just a compliment? Thanks, Jonathon. Jennifer says, "Can you share what is Marketing Firestorm, and your plans for the next few years to grow your company?" Marketing Firestorm is just some name that I gave to just doing a lot of marketing. I had just been focusing on building a team, building systems, and building a really good product, and all of that. After I got out of that, then I was just gonna do a lot of marketing to sell a lot of people. I just decided to theme it and give it a name called "The Marketing Firestorm." It pretty much just meant marketing on multiple channels, all at the same time. So, like Facebook ads, Instagram ads, YouTube ads, Google ads, banner ads, just going all out with it. That's what we're doing. That's not a good idea for you to do in the early stages. No one person can manage that much ads. You need a team of people, full-time to do that. You should just stick to Facebook. Section 2 of 6 [00:30:00 - 01:00:04] Section 3 of 6 [01:00:00 - 01:30:04] (NOTE: speaker names may be different in each section) Sam: Need a team of people, full time to do that. You should just stick to Facebook. You got to remember I got to 80 Million a year just with Facebook. So Jennifer says, would you be interested in co creating a program using meditation. I mean, I don't honestly, my whole next 10 years is booked up. So I'm not, I say no to everything unless it's the main thing which I'm trying to do. So Melvin, you keep asking this question, I've already answered it, send them to the value video. So Alborse says, sales transcript question. In step seven, we state the current situation, and then we ask what's stopping you from reaching it? It doesn't make sense, that's definitely not what we do. Cause there's nothing stopping them from reaching their current situation, they're there. So what we do there, is then you say then in step 8 you say it again, the situation and what stops. Why not just stay where you are? Does this kind of similar question repetition makes the [inaudible 01:01:36] frustrated. Oh, so what was Step 7 again, let me just find it. So, part 7, releasing control and self admission ,that's the best part of it. You're currently making 10 grand a month and you want to get to 50 grand a month. Tell me what's stopping you from achieving that on your own? So that question is asking them, what's stopping you from getting to your goal. And they're going to tell you what they can't do themself. And part 8, is gaining commitment. And you're saying okay, so you're currently making 10 grand a month, why not just stay where you are? That's asking them, you're at 10 grand, why do you even want to make 50? Why not just keep making 10? What's wrong with that? Your challenging them. So like, a real good coach, or a real good mindset person. Like my forensic psychiatrist does this to me all the time. And he constantly sees, so what? You're doing good, things are going well, why even do anything? Constantly, constantly saying, it's a challenge. And it's getting them to tell you why they want it. And then they start to fight with you about why they want this thing so much. Hold on, these shutters are annoying me again. It's even worse. Hold on. There we go. This is the thing about working in an apartment that's just totally glass. There's just all the walls are just glass, so whenever you are using a web cam it's nearly impossible to get the light right. Mark says, do you have any tips on how to protect your downside from voice search online for marketing consultants? I don't really know what that means? What do you mean? What is your downside? And how do you have downside from [inaudible 01:05:12] search online. That question has to be worded better. Yep, Melvin if you ask that question one more time, I'm going to kick you out of this call. So Paul Whither spoon says, what books are you reading now? I shared that before but I'll just do it quickly again, cause these are good ones. This one, really good. Essentialism and then Rework and then there's one called the 80/20 Principle. I've read this one like seven times, this is one of my favorite books in the world. So Glen says, question I've been sending down to outreach for some time now but not having much luck. I've sent hundreds of emails, tried different custom messages and still struggling. Any advice? Well, what has the feedback been? Have you been able to generate any calls? And on those calls, what happened? What was their objection, how did the call end? I need more feedback. So Gilliam, says Sam, do you still do your mindset everyday? Do you still see changes in your life doing it? Yes. All the time. Hey Sam, why do you keep giving Rich a hard time on your Facebook stories. It's pretty much what we do. We just constantly joke around with each other. I think it's a New Zealand, Australia thing. And he does it to me too. So Carla says, thanks your advice makes a lot of sense. I've wasted a lot of time trying to solve this trade license thing. While it's better to use this time in making sure decisions and closing clients I'm really trapped thinking about the future and issues. Yeah, I'll give you a good example right? So you waited all of this time to get a trade license? When I wanted to move to America, I just moved to America. I just started selling, started a company, started selling immediately. I didn't even have a Visa, I just came over here and got started. Cause I knew I would figure it out once I got here. And that's what happened. Later on, after I'd moved here I then started getting a Visa and all of that stuff. I mean, don't stall yourself by trying to have everything perfect. This damn light. I don't know what I'm going to do. Wilson says, upcoming meeting with a tuna fish company. Any tips? Just follow the script. Do you golf? Nope. I don't mind playing it though, it's very time consuming though. Live Q&A course, is it really worth it? So Jawand says, I missed the first 40 minutes of the live stream, cause I thought it was an hour later. Is it always going to be on Sundays at this time? No, right now I haven't put a fixed time in for it. I will, I'm still thinking and trying to think exactly what we're going to do and what time it's going to be. I don't even know if it's going to be on a consistent time. But for now, you've just got to see when I post it to the Facebook group. But I think we might come up with a consistent time later on. So, Nicholas says, do you still think you can build a seven figure business in digital marketing in 2018? Yes. You can still build a seven figure lawn mowing business in 2018. You can still build a seven figure anything in 2018. So Joshua says, Hey Sam, I plan on testing a six week course for a market. Do you think I could create the first week of the program and then after I get a client, could create the rest of the course. I would look at the videos in week seven. So go to week seven, look at those videos. And if you're interested in doing the whole course business model instead of the [inaudible 01:11:34] 101 business model. Then you should really look at joining up label consulting which is the program that I've got where I teach you exactly how to do that. So Marcy, just wanted to give a shout out to the community and just say how supportive it is. Thank you. So David says, when doing direct outreach by email, the example says at the bottom, something like when is a good time for a quick 15 minute chat. Question, is that a 15 minute chat supposed to be a straight decision? No. That is pretty much just supposed to be an initial chat with them. If everything goes really well and you're qualifying them, the real things you want to try and determine are the things that you ask in the survey. So our normal sales process goes, a Facebook ad, to the VSL to the scheduling to the survey and then to the call. And when we're doing direct outreach we don't have, we haven't got them to complete a survey. And if we haven't got them to do the survey, then we need to know the answers from the survey so we do that quick 15 minute call to ask them those questions and then if it sounds like there is somebody who is good for a straight decision then we can either ask them if they've got time to do the straight decision right there on the call or scheduled a time to actually do the thing. That's why it works that way. So Mohammed and Anna say, Hey how's it going guys? Darnell says how would you respond in this scenario? You've sent over 200 messages to your target market, attorneys, introducing yourself your company and your offer. You invite the attorney's to visit your website funnel. No one has responded positively. What do you do? I think you, you really need to have a better conversation with them. No one cares about your company, no one cares about your website, no one cares about you really, unless it's like family and stuff. And no one really cares about your email. The only thing people really care about is themselves, so when you send someone an email and you want it to get attention, it has got to be about them. It's got to be all about them. So you want to send a very small email that doesn't say anything about you. It mostly just asks them a question. And is interesting to them. And is relating to or about a topic that is something of importance to them. And then they'll bite on that if it is something that they actually care about. And then from there you start fleshing out the conversation where you go on to talk about what you do and things. But you've got to remember that they always come first. And especially in the beginning. People, especially an attorney, they're very protective of their time. And really any business owner is going to be protective of their time. And if some random person emails you, you're giving it about one second before you delete it. So you've really got to catch them with something that's important to them. And, I check my email every now and then and most of the emails that are just pitching me something, I'll just delete it. I don't even read, I won't even open it. Just delete. But if someone sends a personal message to me, and it's relating to something I'm thinking about or is important to me. Then they might actually get me as a client. That's how it works. You've got to remember it's not the message or anything. I mean, it's not the medium or the message or anything like that. It's just whether you are striking a nerve with someone. Or weather you are relevant to someone or not. So Loyd says, how many hours a week do you put in for everything. How did it evolve over time. I work pretty much 12 hours a day, 6 days a week. So roughly 9:00 a.m. to 9:00 p.m. Monday to Saturday. Take Sunday off. But my wife's away at the moment so I'm kind of bored, so I'm just doing this Q&A call. Millie says, is Rit your brother? No Rit is my personal trainer. And if anyone is wondering who Rit is, you should just go follow my Instagram. So go to my Instagram, go to Sam Ovens, follow it. That's where I share all behind the scenes, all of that. So Jersen says, Sam I did 9.8 K the first month, I went all in. Got me to be complacent and relaxed. What would you do in my shoes to get back in discipline? I perform better under pressure and still I'm not under much pressure now I don't wake up as early or work as much as I used to. This is a common one, I've got to constantly move, cause of this damn light. So, how do you do this? Well you've really got to move the goal posts, know what I mean. If you're trying to play basketball, you can shoot, you start off shooting hoops from here, and then you keep going further back. You keep moving the goal post, or the hoop or whatever. So you need to really just keep stretching those goals. You need to sit down and redefine exactly what you want and get hungry for it. Anna says, question. Also Jersen, watch the videos in week seven. It's a good idea, it might get you hungry for that. Anna says, I met with a potential client while on holiday in Fiji. He asked me to send an email about what it is I do. As I was leaving for the airport I sent an email but he hasn't opened it, do I send it again or do I pick up the phone and call? This would be a huge client for me. You just pick up the phone and call him, but, yeah, just pick up the phone and call him. I can't tell anything more from that. March says, what do I mean by online voice search is have you looked and talked [inaudible 01:19:59]and have you seen any risks which might burn the consulting business? Yeah I think I know what you're talking about now. It works, you can optimize google ad words for phone calls and things. It's a technology though. What you're doing right now is your being technology focused. You've always got a central focus point, this one thing, this one plot on a map. And that's where you're channeling all of your focus and all of your energy. That's like your point of obsession. You always have one of these. And what yours seems to be right now, based on your question is its a piece of technology. And you're kind of fixated on this piece of technology, and your thinking is this good or bad, could this be a good business and all of this stuff. Really, you've got the focus point on the wrong thing. You should put it onto a market, some customers, some people. And then try to find out their problems, and then try to align different technology and different solutions to solve those problems. You never want to be technology driven and you never want to be competitor drive. Really dumb things to do is look at fancy new technology and obsess over that. Chat bots is this new one right now that people are obsessed with, same thing with bitcoin and stuff. I mean the bitcoin one didn't go that well. And the chat bots one, I'm keen to use them whenever someone proves to me that these damn things work. But I've watched a lot of my friends roll out these big chat bot things and no one can show me the numbers. They show me the numbers but they suck. I don't really care about it until I see this thing can actually beat what we've currently got. And so, you've got to be focused on the right thing. For me, I'm always focused on results and the customer. And the two are really the same thing. If I want results, I've got to help my customers get results. If I help my customers get results, I'll get results. So that's my obsession, that's my focus point. I'll look at any piece of technology and I'll consider putting it in, but it's never about the tech. I'm not attached to any piece of technology, I'll happily give up anything, start using anything. But only if it drives the main goal. So Jengus is, remember your post of your car back when you were in New Zealand, do you have any cars now? Nope. I don't even know how to drive on this side of the road. So I've got no cars, nor would I want a car in the city. It doesn't look very fun. So Sheeno says pricing question. My exam mindset training program is six sessions and a total of nine hours delivered, on Skype. How much should I charge, do you think, and who should I target in terms of gender, country and income level? So this one it's obvious you've done this one back to front. You built this coaching thing and everything, and now you're looking for the people to put into this thing. You should have started with the people. And then you reverse engineer from there. So you need to empty your brain right now. Right now you're looking at the world in a way which is just trying to find someone to put into this thing, but that means you're always looking at the world through a biased leans. So you need to forget about everything and go to those people who are doing exams and things and talk to them. Without the pre conceived ideas that you can help them with your training. And then if your training seems to be a fit to help them then you can tell them that you've got it. But if it's not, then you've got to adjust your thing and make it work for them. You've done the classic mistake, which is product first, people later. You've got to start with the people, and then reverse engineer to the product. Or the offer or whatever. You've got to market backwards, that's the right thing to do. So just empty your mind and just talk to the people. Be a student again and just understand them, that's the best way to do it. So Mark says what do I mean by online voice...I've already answered that. Zany says, this is totally a millionaire problem, all glass walls. Darnell says ...already answered that. Ramzi says, your live sessions are getting me re engaged with the course. Thank you. Cool. Who else is liking these live sessions? Click that like button if you enjoy this. I think there is a 15 second delay, apparently. Cool. If you guys leave me feedback in the questions here about things you think I could do to make these better, then do that. Because what I do after these calls and I get Nick Hauser to go through them too, is either I do it myself or Hauser will read every single question, even if there's 1,000. We'll read all of them and we'll listen to that feedback and improve it with it. So if you want this, if you want all this stuff to get better, you just have to tell us how you think it could get better and then we'll make it better. So Dee says, he just bought The Ring, good work. Final question. I helped my client take his company from two reps to 20. He now wants me to become a co-founder instead of a sales and marketing consultant. I'm meeting with him next week. Company now takes in 200K, 200,000 pounds per month sales. He plans to expand and sell in five years. What are some of the things I should look for in his business before making a big commitment like this. What questions should I ask and if you were me, and if you were me what would be a deal breaker for you to commit to the project. So this totally depends on what co-founder means. If it's just a title and a label, that doesn't mean anything. That means just an employee with a co-founder label. You've got to find out what that means. Are you going to have half of the equity in the company. And even if you have half of the equity, are you going to have half of the vote? Are you going to be a director of the company, will you have half of the control of all of the bank accounts, all of the assets, all of the financials. What does that mean? Because if it means that, that could be good, I would be totally open to that. But if it just means, an employee with that label, then that doesn't mean that. So Glen says, thanks for the response regarding my direct outreach. I've sent many outreach emails with a similar comment as your template, when would you be available. The biggest issue that I'm having is getting no response at all from direct outreach. I know I'm hitting them at their pain points from research. Any advice to encourage responses to my emails and you're offering [inaudible 01:29:32] business intelligence. Well, how do you know that is what you should be offering them? So you're offering them this [inaudible 01:29:38] business intelligence, who are you offering it to, question number one. And why are you offering it to them, question number two. And how do you know they want and need that, question number three. Give me those three pieces of information and then I'll be able to go further into this. Section 3 of 6 [01:00:00 - 01:30:04] Section 4 of 6 [01:30:00 - 02:00:04] (NOTE: speaker names may be different in each section) Sam: So Tracy says, "Do clients occasionally sign up with you without a strategy session call? As I never had a call with you." Yes, so for Accelerator, we don't do strategy session calls. It's an automated product, so people watch a webinar and then they just buy or not. And it works like that. But for my higher level trainings, like Uplevel Consulting, we do a strategy session into those programs. And if you want to learn more about that you can look at Week 7 in Consulting Accelerator. It talks all about that. So Ranjit says, "Hey Sam, do you have any examples of successful students that have used your program to set up a successful SAAS business? Everyone seems to be digital marketing, coaching, short calls focused. Looking for peers amongst the group focused on building software services. Thanks for making time on Sunday." First of all, I built a SAAS business before I started this. It was called SnapInspect. And it's still around. I sold it to my business partner. And it's still successful. It's still growing. You can go SnapInspect.com and check it out. I used the same principles from this training to start that, although this training didn't exist back then. I used the same principle of going to a market, which is property management companies, finding out their problem, which was doing property inspections, and then I designed the solution with them, and then sold it to them. I used the same principles and I created a successful SAAS business. So there's that example. Then there will be many more if you post in the Facebook group. I just recommend doing a post and saying, "Hey, is anyone else doing SAAS here?" Another person who has used this to do that is Dave Rogenmoser. He started this SAAS company called Proof. GetProof.io or something? UseProof ... oh no, just Google Proof and you'll probably find it. And now he's in Y Incubator. Y Combinator, sorry, that's what it's called. And I'm sure there's many more, but those are the only two examples off the top of my head. The principles are the same. So Chenelle says, "If a client wants to have a chat, should I insist they go on my website and follow the funnel process?". So I'm guessing they're not a client then. I'm guessing you mean a prospect. So someone who is not your customer. I mean, it depends. Like if you're really busy, and you've already got lots of people to talk to, sure. Say, "Please follow the normal process that everyone else follows", right? But, if you're not very busy, then just talk to them. You know? Just get on the phone with them because talking to anyone is better than no one, and you're going to start to get insight into the market. Alexander says, "Hey Sam, I'm living in Sweden. I am going to see a guy from my niche tomorrow, but I'm doing my digital marketing in the U.S. If I asked this guy the tenet smart marketing questions, would that work? Or should I only ask people in the U.S.?" So you're living in Sweden, you're going to see a guy in your niche tomorrow, but doing digital marketing in the U.S. It's kind of confusing. So are you actually in the U.S. right now, and you're going to see this guy in the U.S.? I don't even know how location even plays a part in this question anyway. So I think you might have tangled up your thought process a little bit here. But, yeah, I mean you're always asking those questions. Those questions always work, regardless of what someone's situation is. I think you've gotten a bit confused. Like country doesn't really matter. Seriously. When I was in New Zealand, most of my customers were in America. And then I moved to America, and now most of my customers aren't in America. So, it always ... the whole world is your market. Sometimes restrictions can be language. Right? I don't know how to speak any other language other than English. I'm still learning that one, because I still make spelling mistakes, which you guys tell me about pretty much every day. And for now that's my market. Anyone who can understand English in the world. And that's really what everyone's market is. So don't let location or anything like that ever ... don't ever think that it's a restraint or anything like that. It's not. So Millie says, "Hey Sam, for future Lives, might be handy to do a poll on a few subject hitting, and we can vote on what we would like to discuss. Then people can ask questions specific to that, if that helps." Thanks for that feedback. I think the first few that we do, just going to kind of do them random and let people ask questions and stuff, and get a sense for what we should do. And then it will start to become clear, like a good way to do it. But typically people just love Q & As from what I've seen, because sometimes we go on a random tangent and that's something that people really want to learn about. Like the one that stood out to me last time was finances. So someone asked me about a car and how they should buy a car or something. And then I told them this different way to structure it, to use finance to buy a used car, to take zero salary out of the corporation and pay yourself through a loan, and all of that stuff. And then it kind of blew up, and then everyone was really interested in that. But that wouldn't have come up when we set a rigid structure from the beginning. So sometimes it's best to kind of have it ping around and go random like that because we can hit on some good things. But we'll also ... we might try the structured approach too. We'll just see what happens. So Jawed says, "A similar question to what fellow members asked earlier. If someone has been doing outreach to the niche to offer them a solution to a suspected problem, the feedback has been pure responses to the message. To even be able to generate stray decisions, so not even one stray decision generated after 400 messages sent, and about five, 15 minute chats. Does that mean the problem isn't painful enough?" Yeah, well the real giveaway in that whole little blurb that you just wrote is suspected problem. That's the issue. So you haven't identified it properly. You're offering a solution to a suspected problem. So that's not what we really want to do. You should be doing, talking to them and understanding first before you're offering them anything. So Mauricio says, "Q & A once a week has been powerful." Thanks for the feedback. Jennifer says, "I love this Q & A format. I'm going to duplicate. Thank you for having figured yourself out so beautifully and sharing." Thanks Jennifer. So Josephine says, "Hi Sam, I'm a copywriter who wants to help conscious entrepreneurs market their businesses." What's an unconscious entrepreneur? I think that could be a little bit tighter. Because I mean every entrepreneur is conscious. At least they did, even if they can't really pay. Or if they're asleep, can't really do a strategy session with them. I'm kind of joking a bit. But I think that niche could definitely be tightened down a bit. "I'm wondering if I should stick to being a copy specialist, or go for a total digital marketing solution. From my research, it seems like this is what my market needs. But I'm weary that I'm already a specialist trying to turn into more of a generalist." Yeah okay I get this. So the conscious entrepreneur thing, I mean, you just need to figure out what that is in more detail. I think I have kind of an idea what you're talking about. But it's still a bit too wishy washy. And then, yeah, you are going into more of a generalist. But, in a way you are, but in a way you're not. Because you've got to remember that what your main role is, is to solve the problem and get a result, and get an outcome. Right? That's all. You're an expert at outcome. You're not an expert at copywriting. You ought to remember that. When you say you're an expert, you say this too, which is a giveaway to how you believe this. You say, "I'm a copywriter", and you're wondering if you should stick to being a copy specialist. Really you're Remember that if you were just good at writing words, but the words didn't make sales, you wouldn't be a very good copywriter. So you've got to make sure your thinking is clear on that one. So really if we analyze that further, the most important thing is getting sales, right? Because even if someone's copy was bad, but it got more sales, they would technically be a better copywriter. Right? It's about the sales. You've got to work out what's the most important thing. The sales. So, you're wondering if you should go for a total digital marketing solution from your research. Yes, if you believe that is what will help you get more sales for the niche, then yes you should. Because true, you are becoming more of a generalist in the things that you're doing, but you're becoming more of a specialist in the outcome that you're trying to achieve. And the real definition of a specialist isn't in the action, it's in the outcome. So you've got to look at it that way. Because you could look at what I say I do. I say I help people start and grow consulting businesses. But look at the wide variety of things that we talk about in Accelerator. We talk about picking a niche, mindset, psychology, all sorts of stuff. We talk about sales, we talk about Facebook ads, funnels, technology, finances. And that's because those are all of the things that I've found I need to help people with to get more sales. So I'm trying to focus on the outcome, not ... And I don't care if I have to offer more stuff here, provided there's more of an outcome here. So, yeah, you've just got to ... It all comes back to that central focus point, and what yours is. And right now, the way your mind's built, you've got it on the task you're doing, but it should be on the outcome you generate. And once you clear that up your brain should rewire itself a little bit. So Diego says, "Sam, this is a live question for me. Hope you see it. I am thinking about going to study Economics in Germany. It's free, but to be accepted will be hard. I know I can do it, but I don't know if it's worth it. I have to learn German first, then do a pre-college year to have just the possibility to apply. Should I go and take the challenge, or should I focus on starting a business?" Dude, this is the easiest question in the world. Start a business. Simple. Economics. I know economics. I studied it at school. And it's theory. And a kind of useless, wrong theory to be honest. One of the best traders, well actually two of the best traders in the financial markets in the history of the world, are George Soros and Carl Icahn. Right? And I've studied those guys a huge amount. And both of them outright say that economics is wrong. And if economists were right, then they wouldn't be able to make all the money that they make. And so, based on the underpinnings of the economic theory, by the best economists on planet Earth ... if you look at the guys who understand finance and economics the most, they say it's all wrong. So that's a no-brainer for me. Why would you go and do that when it's made by dudes who sit in libraries, who've never made money, or traded the markets, or worked in markets? When you can learn from guys who actually are in the markets. Start a business. The best economists are ones that didn't learn economics. They practiced it. And one thing I always like to say to someone is imagine you want to learn how to ride a bike. Would you go to the Harvard, Oxford, Stanford professor on riding bicycles, who has written 900, what do they call those things? Those academic people. Some sort of peer review papers, right? Would you go to an Oxford guy who's written 900 peer reviews and ten New York Times bestselling books on riding a bike, or would you go to the dude who is riding a bike? I'd learn from the dude on the bike. No amount of theory can actually teach you how to ride one. So Jaden says, "Hey Sam, I run a landscape and interlock business, and I've always done offline marketing like door to door sales and sticking lawn signs on jobs I've completed and in the wealthier neighborhoods. We hit a big pass, six figures last summers, to the second year in business. But I don't know how to scale to seven figures, and want to focus on scale like that. Any tips?" Okay, so with you, first of all you must have done something right, because you've done pretty well for only two years in it. So the answer might be to do way more of what you've already been doing. That might be ... I would do that anyway, because you've already mounted some decent evidence that whatever actions you've been taking have been producing the right outcomes. So I, immediately, starting right now, I'd ratchet that up right now and just do as much of it as you can. But then I would look at the best people in the world of what you do. So, you do landscaping and interlock business, I would look at the best landscaping and interlock businesses, and look at what they're doing and learn from them and emulate them. So Oliver says, "How do you deal with the new FCC laws?" I don't even know what FCC is. Or that they have any new laws. What is that? What is the FCC? I don't even know. "What kind of music do you listen to?" Honestly I listen to all sorts of music. Sometimes I'll listen to binaural beats. Those things are good. You can just search them on YouTube. Just search binaural beats. When I'm trying to focus, I'll listen to those, and it really helps a lot. But then, I listen to all types of music. On Spotify I'll listen to rock music, like Rolling Stones, Led Zeppelin, and all of that. Then sometimes I'll listen to rap music, sometimes I'll listen to drum and bass music, all sorts of stuff. Just depends on my mood. But when I'm trying to focus, the thing that works the best is binaural beats. Eddie says, "Does niche matter, or does it not really matter? Debate with Chris Willis and I." I mean, honestly, it does matter. You've got to have some focus. You have to be focusing on some segment of the world. But how you define a niche, that doesn't really matter. Because you could say that "My niche is just stay at home mums", right? That could be your niche. Or you could say, "My niche is anybody who wants to have a six pack". Abs. Or, "My niche is children who want to play soccer". I mean, however you define your niche, that doesn't matter. But the importance of the niche is that you're actually focusing on something, instead of just everything. Because you can't understand everything. It doesn't work. So that's the real purpose of choosing a niche. It's to focus in so that we can understand something. And if you look at nature, too, all types of organisms and species in nature, they have niches. They choose little areas of the ecosystem that they understand and adapt to, so that they can thrive in those ecosystems. For example, you could take an apex predator from the desert, like some sort of snake or something, that's used to surviving with no water or nothing. Then throw that thing in a different ecosystem where it's totally ice and snow, the thing's going to die. So even if you're the absolute best in one environment, if you change into another one, you can just be useless there. And that's why sometimes when people are trying to be everything, like if a species of animal is trying to adapt for every ecosystem, it can't happen. Because that's really what you're trying to do. When you pick a niche, you get to understand the rules of the game in there, you get to understand the ecosystem and adapt to really thrive in it. But you don't know what those rules are until you focus. So a niche is definitely important. But not ... The biggest mistake I see people make is thinking that a niche is a classic industry. So like real estate or insurance or banking or dentists or doctors. Right? This is the worst way to think about. Because if you start thinking of niches as that, then there's like only ten of them, or twelve of them. And they're all going to be extremely competitive. And that's not a niche. A niche is a specific ... it's just any way of defining a group or a cluster of people. So I already answered your question, Diego. Don't go and do Economics in Germany. Start a business. So Zanie says that she likes these calls. Thanks for the feedback. People like them, we'll keep doing them. Alyssa says, "Live sessions are creating hunger". That's good. Jennifer says, "I really appreciate you going through one by one and answering them. Usually most questions on Live are skipped over. Really think it's awesome." Thank you. So Elvira says, "Do you usually rely on logic or intuition?". I use both. If logic can't be done then obviously I've just got to go with intuition. Right? But, I mean, I try and use both all the time. I'll typically start wherever my intuition is. So if I need to do an ad or something, I'll start with what my intuition is, but then I'll check it with the logic. It's both. There is no person in business who uses intuition for everything. Those people will be bankrupt. And if they're not, then that person would be the ruler of the universe. Because no one can do that. So it's both. You've got to have both. You can't use logic for everything, otherwise you will never make a decision because you'll get so confused and tangled up. Nor can you use intuition. You have to be equally left-brain, right-brain. So when I do all of those psychometric tests, those things are awesome. You should, if you want to understand yourself and help yourself improve, then the best way to understand yourself is just do psychometric tests. Do the Myers-Briggs one. I'll share this other one with you. I've got it here. It's called ... I'll share the link to this. So I would do this one here, which is called the Team Dimensions Profile, which I just posted. Now, this one costs money. So this one costs, how much is it? If you scroll down on that page, it is $43. So before anyone asks, if you don't have $43 to spend, don't do it. But if that's not going to put your life into a dangerous situation, then do it, because it's worth it. Right? I made all of my team do all of these tests too. And I do them myself all the time as well, because it helps you understand yourself. And when you understand yourself, then you can see why you have the problems that you have. And also why you have the successes that you have. It's always two things. Someone's greatest strength will always be their greatest weakness. Every single time. So I would do ... This stemmed from Elvira's question, "Do you rely on logic or intuition?". And when I was younger, I definitely relied on intuition mostly. And it didn't really work that well for me. But, as I've grown older and done more business and everything, I've definitely got way stronger logic. And typically when I do those psychometric tests now, I'm pretty much both. Like half right-brain, half left-brain. I can be creative, but I'll also have the rational logic. And I think that's the best place to be. Just right even between the two. If you look at Carl Icahn and all of them, like all of the best businessmen and people in the world, they're both like that too. Because if you're just pure logic, you're going to be like a lawyer or an accountant or something, that can't think themself outside of their little box. And surely, they're really good at doing rules and everything and calculations, but they're like a little calculator. They can't get out of the box. And the people who are good can do that, but also can transcend the thinking and change the rules and do all of that. Play different games. So you want to develop both sides of your brain. If you're hard jammed on logic and not very creative, work on the creative side. And if you're hard on the creative, work on the logic side. I think the biggest thing, which would help women ... because I notice that quite a lot of women think differently. Like if we had to make a bias for what women are mostly like and what men are mostly like ... men are generally more rational and women generally have a bit emotional understanding and everything, bit of feelings. That's, obviously there's differences, like there's a lot of men that have strong feelings, and then a lot of women who are very good with logic and all that. So obviously there is a mix, but in general they're like that. And honestly the best thing to do for both men and women is to learn the other one. You know, if like women Section 4 of 6 [01:30:00 - 02:00:04] Section 5 of 6 [02:00:00 - 02:30:04] (NOTE: speaker names may be different in each section) Speaker 4: If you're ... Women who have really good empathy and understanding of emotions, if they also learn the logic and analytical side, then they'll crush it. And if men learn the emotional side, then they'll crush it. If the men learn the emotional side, then they'll crush it. You want to balance it a bit. The biggest thing I see with female entrepreneurs, they don't have ... they're not very analytical and they don't keep track of their numbers very well. And there I think it can definitely help a lot of people. "Thanks for that suggestion," Jennifer. Irene says that she didn't expect the livestream sessions to be so great. It helps me engage with the community and the course feels like I'm not alone and disconnected. If this will be regular folks time I would definitely attend. Cool, I think after this call, I'll do a poll, and I'll say, when would people like this to be done on a fixed time? So Shawn Vossler says, "For expanding and hiring, better to use a business credit line or out of pocket cash to bring on the first few people?" It's always better to use the cash if you can. The thing about credit is you wanna be really certain it's gonna work. Cuz if it doesn't, then you've really got yourself. Because now you're in debt, and it didn't work. When it comes to buying a car, why I said you want to use finance for that is because there is ... We can perfectly calculate the downside there. There is no way you can lose, provided the car is insured, which it will have to be if you take finance out. No finance company will give you finance without insurance. Let's say you totally smash up the car, or it gets stolen, then it doesn't matter. The insurance company will pay the finance company back, done. So that's why we do it like that, because we know the downside and we know there's no way we can lose. But when it comes to other things, like hiring people and stuff, we can lose there. If we hire the wrong people, they don't turn out, then we're in the hole, and we're not covered for that. Whenever you use credit, you just gotta be really damn sure. And you should try to avoid it, as much as humanly possible. If you can avoid debt, as much as you possibly can. I don't have anything, zero dollars in debt. I don't even have a credit card. We use a debit cards. We don't even have a dollar of debt or credit. Kyle says, "Is creating a consulting practice from your dorm room a reasonable net, or is that too broad?" That's kind of an irrelevant factor, like where you're starting it from. That doesn't really matter. It's like starting a consulting business from the bar, starting a consulting business from the shower, starting a consulting business from the McDonald's drive through. It's kind of an irrelevant piece of information. Target audience question she now says, "Thanks for the feedback. I did start with the student, however it is the parent that has the money to buy it for the child." Ah, okay, this makes more sense now. Should I target the parent or the student? EG for my one line now is to help young people to go alone. Should I change that? I help parents to train their child. So who ... Now I need to know more information. So who did you actually start with, the student or the parent? Cuz now that's important. Whoever you started with ... This totally depends on how young the children are. I need you actually say what your actual niche is too, cuz you said, "I help young people to blah blah blah." I need to know what the blah blah blah is. And I need to know what young people is? What is that? Some people would say I'm young, but I might not be what you mean by young. I need to know this thing. It needs to be specific. I can't really answer it until I know that. Type it in and then I'll be able to do it. So this Howard says, "I'm working on the sense idea as well, missed the dude's name. Reach out to me if you see this. So whoever asked that question about sense, just look through these comments, you'll find other people, but also suggest doing a post in the Facebook group. Glenn says, "Thanks Sam, so awesome to be so engaged with your market, answering questions. One, who are you offering the BI Solutions to? Marketers? Two, why this niche, because this particular niche needs a tremendous amount of time tracking ads, campaigns, et cetra, and I can automate it completely, including automatically giving them insights like which ads are profitable, which aren't, where to spend more money, et cetra. Three, why did you select this service? Selected based on speaking with the real marketers who hate having to be in Facebook or Google everyday tracking things, and hate putting together regular client reports. I can automate everything and even send them alerts within sites." There's a few things in here that stand out to me. The first one you said, one, who are you offering business intelligence solutions to? Marketers? That's way too broad. What do you mean, a marketer? Because there's marketing agencies, there's people who manage Facebook ads, there's data scientists, there's conversion rate optimization specialists, email marketers, affiliate marketers. There are so many types of marketers. That needs to be a bit more specific. Why this niche? Because this particular niche means a tremendous amount of time ... Shit, this question has gone away now. Hold up. Alright, now I can see your question. So then you said, so why this niche? Because this particular niche means a tremendous amount of time tracking ads, campaigns, et cetra, and I can automatic it completely, including automatically giving them insights, like which ads are profitable. So, with this part, I think that that's not true. It's impossible. Because I'm thinking about what we do. We have marketers in our company. We've got a Facebook person, and a Google, ad words and YouTube manager and all that, and I know we could never automate it completely. If what you were saying is true, then you should be a billionaire. Now I'm sure someone would have bought your thing right now. It doesn't make sense. It may make sense to a specific type of marketer. And this might be where your trip up is. If you're only offering it to Google, Ad Words ... Agencies that sell Google Ad words to small business clients, and it's at a very simple level. Sure, you might be able to automate that. If you could then, that might be where you're going wrong. You're targeting a broad spectrum of marketers, but none of them can see what you're actually talking about, and it might only work for a specific one. That statement you said definitely isn't true for all marketers, because I'm thinking about with us, we couldn't do that. Why did you select this service? Selected it based on speaking to real marketers who hate having to be on Facebook or Google every day tracking things, and hate putting together regular client reports. I automate everything. You can even see them. So here, and the issue is real marketers. We need to tighten this down. Who is it? I'm just thinking if it was our Facebook ads manager or our Google ads manager, and they hate being inside Google and Facebook, tracking everything all day? Shit, there's their job. And there's no tool on Earth that can do a better job of tracking Facebook ads and do a better job of tracking Google ads than Google and Facebook's platform itself. That's their job, that's what they live in. They live inside that thing. And you definitely can't automate everything. If you could, then, shit, I'll give you a few million dollars right now. I seriously doubt that would happen, cuz you'd be a billionaire this week. You really need to get clearer on this, because it doesn't make sense. I can pick all of these holes in this thing already, and what I'm doing right here? This is exactly what your market is going to be doing when they're listening to you say what you just said to me. They're gonna just find all of these factual inaccuracies. It doesn't make sense, it doesn't add up. Alright. Ollie Reynolds says I'm making 10k per month, in Don view system doing Facebook ads for personal trainers and gym owners. They have a major issue with sales, closing, and appointment [inaudible 02:12:53] and seating. If I was to do a short course on this, what would you sell it for and how would it be? And how would you sell it? Go and look at week seven of this program. In accelerator, we don't cover how to do online courses and group trainings and things like that. It's more of what's done for you and one on one, but if you look at week seven, we start to talk about online courses and things there. Janice just said she wanted to reach out and say thank you. She said a huge shift from week one. Nice work Janice. I signed up for BuzzSumo any suggestions for using BuzzSumo searches? Yes a BuzzSumo is just one small tool. Have a look in it, get some insights from it, but it's not gonna tell you everything. The one place you're going to learn the most from is the humans, the living humans when you ask them questions. That's where most of the gold is. But to try and figure out sometimes what humans to talk to, you can use tools like Google and BuzzSumo and you can look at blog comments and all of that. But the real stuff, there's no substitute for the human. Joshua says, "Hey Sam, going back to what you said about taking a loan from your company and paying it back. How do you pay it back when you take no salary?" That's a good question. So how you do it, is you take a, it depends on what country you're in, but every country will release a rate which you have to pay in interest to make it legal. Cuz otherwise all the billionaires would take all their money out and they'd say it's a loan, and they'd never have to pay any tax. And they'd never have to pay it back. In America, the IRS releases it. It's called the AFR rate, and it's a number that the IRS releases, and it tells how much you must pay in interest for the loan to be legal. Typically it depends on the size of the loan and the term of the loan and everything. You can pretty much factor in it's gonna be the AFR, it'll probably be like 1.2 percent, 1.5 percent. So, it'll be roughly 1.2 to 1.5 in America. So that means you can take out the loan from the company. Let's say I want a million bucks out from my company. I can just take the million bucks out, got it. Now I need to make the loan agreements. So I just get an attorney to type up a loan agreement, sign it, sign it on the other end as the company. For it to be legal loan, it has to have an interest rate, and the interest rate has to be legal which is AFR rate, so it's 1.5 percent. And then, there's no principal repayments, so I don't need to repay the loan. All I need to do is pay the interest, which will just be 1.2 percent of a million dollars, and that can be paid annually, only once a year. So, it depends on what I'm doing. If it's like ... Let's say I need the money personally and it's going to be paid back within a year. Then I can take the money, use it, then I can pay it back to the company and then just pay the interest. I might not even need to pay the interest. If it hasn't gone a year. Then it's done. But if I'm gonna need it for more than a year, and I'm not going to pay back the principal, then all I need to do is pay the interest, and you'll have to take a salary each year that is decent enough to just pay the interest, which isn't much. But the main thing I think you're getting at, is that you're thinking about repaying the principal, but you don't have to repay the principal. You can have a loan that lasts forever. The only thing that ... And it never needs to be paid back, it just needs to have interest on it. Does that make sense? They definitely don't teach you how to do that in any online courses I've seen. Zamar says, "I love the paintings behind you, who is the artist?" I don't know. I just liked it and got it. These shadows are annoying me again. Let me see what I can do. Diego I've answered your question. Don't go to Germany, don't do economics. Shawn Vossler says, "Strangest niche that you've seen someone making a lot of money in?" Porn addiction consulting. So Carl says, "Is creating an out of the classroom consulting practice from your dorm room without risking your financial future too broad of a niche?" I'm more confused now. I don't think these other attributes don't matter. It doesn't matter where you are when you start a business, or whether it's in a classroom or out, it's ... what do you mean? What, first of all, I think it'll help me if you say what this consulting business is. Are you helping people do what? Just be real specific. Spell it out for me like you're talking to a child. Cuz I totally don't understand what you're talking about. So Nico says, "IF you're attempting to cold call and cold email in order to begin growing your client base, when you have none, in short, what's a good thing to say to these people when reaching out like this?" What are you selling? Reply back to me and say this is Nico Peekra's question, tell me what you're selling and who you're selling it to. And why you're selling this thing to them. Tell me that. So Sheryl says, "In the situation where there are two parties involved to make the buying decision, for example a student and a parent, who should I target with marketing? If there are benefits for both parties from the training as the parents are worried whether the kid will do well, and the kid wants to optimize the studies too." I still don't know what you're doing. So the last time I answered your question I said, can you tell me what kind of students are you helping. How old are they? What are you helping them with? It's too broad now, I just don't understand it. These blinds are really pissing me off. Here's a good question, I'm not sure if it's a good question yet I haven't read it. Lidia says, "Sam let's say hypothetical my wish is to create a business course like you do, isn't that a stupid idea? I mean you've perfected it in my head, so if someone wants to become a consultant I'd recommend your course. In my head, it's unnecessary for the world to create something similar." Well, I mean, it's very interesting looking at your wording. You're saying it, you already know what the answer is. First of all, you say "Let's say hypothetical." Which is never a good start, because it's not actual. Then you wish to create a business course, and then you said, "Isn't that a stupid idea?" As if you think it is. This is what happens when you come up with an idea the wrong way. What I'm guessing is what you've done is you've looked at my course and you think I've got a good business and stuff, so you think, I'll just build what Sam's got. But it doesn't work that way. You could honestly spend ... You could match the content word for word perfectly, you could copy everything, but it still wouldn't work, because you haven't started from the market. You have to start from the market and work backwards. That's the only way to build it. There's no course creator that's created a good course without understanding it from being on the front lines and doing it. So, you've just got it the wrong way round. You need to start by picking a niche, then you need to understand that niche. Understand their world, what goes on, what their problems, desires, pains are. And once you understand that, then, see if you can offer them a solution, and explore with them what the solution might look like. I mean, you're just trying to do it the wrong way round. It never starts with the product and then goes to the people. It starts with the people and goes to the product. It always goes that way, whenever someone tries to go that way it always fails, every time. I'm gonna open these blinds now. I'm just totally gonna have to move my position. I think that might be better now. Alright. So Roy says, "Hey Sam, if one is targeting multiple target markets that want the same outcome but with different motivations, would you create a different personalized funnel for each one? Or try to combine it to one good general funnel. Yeah, it has to be combined into one funnel. Seriously, just making one good funnel is hard enough. We've only got funnel, one webinar, one landing page. If we had to manage multiple of those things we'd be screwed. So you have to figure out how to do it with one thing. So Terry says, "Sam, I'm at that stage where I really need to learn digital marketing. I'm especially interested in the Facebook marketing side of things, could you recommend anyone?" Yeah, do the course. Do week five. And then, start doing some ads yourself. Do week five then do ads for your own business and start learning. If someone had a web cam for people with glass apartments, I'd buy that right now. Little tip talk, the voice of your audience ... So Carl says, "Have you tried working while traveling?" Yes, it's horrible. I can't do anything. Well, that's a bit of a lie, I can do something but it's almost nothing. I consider it nothing. It's too hard. I'm gonna have to move over here. That room was driving me nuts. So, I've tried to work while I'm traveling and it's been horrible. With your brain at any time, it's trying to manage variables, and it's easier to solve variables when there's constants. For example in science, the way any algorithm works is it has to have a constant and a variable and it iterates the variable until it matches it with the constant and it finds a winning combination. So that's how your brain works. That's how it's wired. When you're traveling, you just toss a big variable in there that's usually a constant. So you've got time zones changing, you have location changing, internet changing, environment changing. All of this stuff changing around all the time, and those are usually constants. When all of those are ... You just make your job way harder. I personally can't do it, when I travel I pretty much take that time off, I block it out. So Miguel says, "Sam what's your view on cryptocurrency, have you invested in it?" No I haven't invested in it. I don't know enough about it to say, and actually no one knows enough about it to give you a definitive answer. But, it just looks too sketchy for me, I mean. Section 5 of 6 [02:00:00 - 02:30:04] Section 6 of 6 [02:30:00 - 02:58:53] (NOTE: speaker names may be different in each section) Sam: It just looks too sketchy for me. I mean, for one, I'll give you one good reason why I didn't like it. I can give you actually quite a few. This is why I didn't invest in it. First of all, you've got to look at the type of people who do something, and there's this saying that really good traders and investment bankers have, which is, "When the taxi driver is asking you about whether they should invest, sell it." That's like a very, very common knowledge amongst smart financial people. And so when the taxi driver is interested in something, get the hell out, or when it's news, get out. And when all saw all of that mania, I saw dudes who total stoner dudes who were definitely broke selling courses on how to make money with crypto and all thee crap, and so that was a big giveaway. So first of all, that's my first point. The second point is that I wanted to personally accept it as a merchant because we accept millions a month in credit card payments, and so I was like let's accept Bitcoin because obviously people have it and I want to receive some. And so I talked to my developers and then it turns out that if we were to accept it, it would take four days to know whether the transaction worked or not, so with a credit card payment through Stripe, we know immediately whether that's accepted or declined, then we can give the person their product, issue them their receipt, and we can do business. But we were going to have to process a transaction and wait four days to know. That means we have to delay four days before the user gets the product, four days before we issue an invoice, four days before we even know if that person bought or not, and then how am I supposed to optimize conversion pixels and conversion events on things that take place that are delayed by four days. It's nonsense, especially when there's a system that's out there that's perfectly good, like credit card system, that's instant. Why? So that was the second blow to it because I wanted to accept it and I couldn't, and there's a lot of other businesses who are in my position, and then the third reason was that then Stripe said, "Screw it. We're not even accepting Bitcoin." The biggest merchant processor on planet earth who's leading the future in everything here, tossed it out. They said we're not even going to deal with this, it's so crap. And so there's another blow to it. And then the fourth one was the fact that the smartest investors and the wealthiest people in the world said that it was nonsense. Ray Dalio, billionaire. Warren Buffet, billionaire. Charlie Munger, billionaire. And Carl Icahn, billionaire, all said nonsense. So based on those four reasons, I didn't buy it. Could they be wrong? Yes. Definitely, but it's a risk thing, right? Which side do I think is more right? Warren Buffet or stoned dudes on Facebook? Probably Warren Buffet. M Corbin Jones says, "Niche residential property owners offer. I help residential property owners optimize the value of their land by designing and developing additional units and space on their land from concept to conception. My consulting business combines architecture, real estate development, and project management, da da da da da. [inaudible 02:34:10] people are showing a lot of interest. I've heard [inaudible 02:34:15]. It's been tough to close on the farm. They all want to meet me and to do site visits. Each project is 150k, so it's a good commitment. Any advice on closing these clients who are on the fence and cracking this nuts this week, it must happen." Have you done this before? Have you sold one of these things before, and when you did sell it, how was that done? I need to know those things. So Michael says, "I have a lot of varied interests and skill sets. How do I begin to make sense of what I've learned to know what I have to offer?" This is a good one because you revealed your position. So from what you just told me there, this is how I can analyze it so you can figure out how to do this yourself. "I have a lot of varied interests and skill sets. How do I begin to make sense of what I've learned to know what I have to offer?" If you want to analyze someone, just look at how many times they say I. It's the dead give away. So this one has one, two, three, four. So four I's. That's the problem right there. You're just focusing all on you, and if you want to sell to yourself, that's great, but that doesn't really work, so you have to forget about yourself. You have to go to the market. Understand then because it's not about your interests and your skill sets, and it's also not about making sense of what you have to offer. That stuff does not matter at all. The only thing that matters is the market, the customer, and what their problems are and what they need and what they want, and if those things align with what you want, All right, that's fine. But you're looking at it from the wrong point of view. If you ever want to understand someone's thinking, just always look at the way they word it. Romeo says, "What sounds better? I help manufacturers to find top mechanics with social media, or help help manufacturers find top machinists with digital marketing techniques." I think we're splitting hairs. I think it's the same thing, really. You can try saying one one times, one a different time, see what happens, but mostly what we're doing here is just splitting hairs, you know. This isn't something that's that important. Alvira says, "Thank you so much." Thanks, Alvira. So Christopher says, "Sam, what do you think about offering you a commission as a percentage of the amount you grow the business in your niche's market. I.e. if I can double your monthly bottom line from 20k to 40k per month, would you be comfortable with paying me, paying my monthly commission of 10% of net profit. Please advise." Yeah, so these deals, they sound great in theory, but they just never work. Because first of all, it's just too complicated. In order for this to work, they're going to have to do their books really well, which you can guarantee that they're not. You can guarantee that all of your clients aren't even going to know how much money they're making, and they're not going to know what their books are like. Most people are totally clueless. You've got to remember this, and so they're not going to be able to calculate that, and then they're also not going to let you look at that. And if you can't see it and they are not even calculating it, then how the hell are they going to know what to pay you, and you're definitely not going to get paid. And if you do, it's probably going to be late and you're not going to trust that it's right, plus now you're at the mercy of their decision making because you said profit margin, bottom line. What if you're helping a construction company and then one year they decide to buy 20 forklifts? And their profit margin is zero. You know what I mean? Then what? Now you don't get paid. That's not even your fault, so just don't do it. Seriously. These things sound awesome in theory, but they don't work in practice. There's nothing better than just your fee. It's simple. They pay it. It is what it is. Easy. Just have a fee. The only time these deals work is when you control the payment gateway, so Amazon. If you list your stuff on Amazon and it sells, Amazon will take a commission. Now, that works because Amazon owns it all. They process the money, so they know that they're not going to not get paid because they take the money before they pay the business owner, so there's no way that they cannot get paid, and they don't have to worry about the business owner doing their books. Amazon doesn't. Same the iOS app store and stuff. Those deals work well when you control the payment gateway, but when you don't have control of that, run. Run as fast as you can. So Sandy says, "I help people recover otherwise lost revenue. Is it done for you?" What is otherwise lost revenue, and how can that be recovered as a done for you? "But I also teach a script that works to collect money due, role play with staff, and then monthly report of AR to make sure ..." Okay, now we're understanding more. All right, now we get it. "AR to make sure the holes are plugged. I don't see that as a niche. Nobody likes collecting money, but I teach companies to avoid overdue money and collect what's due. Should I pick a category such as heath care or small business. Ah-hah (affirmative). Yeah, so right now I get it. So you help businesses collect accounts receivable. That would say it a lot clearer. So I would say that, and yours doesn't matter what industry it's in really because, though your niche is defined by businesses that have issues collecting accounts receivable. That is your niche. Any business that has issues collecting accounts receivable, and if they've got that, then they qualify for you to help them. You could offer it two ways. One thing you could do, and this is kind of like what all collection agencies are, so if offering it as a done for you, you're basically a collections agency, so a company will have accounts receivable that's past due, and they'll hand it over to a collections agency. The collections agency tries to collect it, right? So that's what it is as a done for you. But if you're doing it as a training, now it's a little bit different. Now you're showing a company how to do it internally without using a collections agency, or if you've got a really good way of doing it, you could even sell it to the collections agencies. So you could teach the collections agencies how to collect the accounts receivable for the companies that need to collect the accounts receivable, right? So I would first of all think am I actually a collections agency, because that's what a done for you collections thing is. If you re, then fine. Just do that. If you're not, then you could offer it as teaching it as a service to either the business or the collections agency, and you'd have to talk to both and determine which one is the better one to offer it to. Alvira says, "Thank you for your insight on my question." No problem. Elena says, "This exact time on Sundays works great." Well I'm definitely not going to be able to do Sundays because that's my wife's day, so if I told her I was going to start doing this on Sunday's I probably wouldn't have a wife. Saturday's might work, though. So [Heytown 02:44:32] says, "Question. Just curious how come the use of religious symbols in some of the training, the ark, the town." I just do that for fun. They're like and things, so let's just do it for fun. (silence) Nigel says, "I am at the part where I have to makes sales calls in week four, but I am still not confident in even how to provide the solution to get the result. Should I wait until I have learned how to do my offer, or should I just make the sales calls right now anyway?" Just sell it. You'll figure out how to do it once you sell someone. Don't wait to figure it out before you go. Do what I did. When I wanted to come to America, I just went there. Then I didn't get a visa until two years later. Channel says, "I help people age 15 to 25 to achieve exam success." Now we're getting somewhere. "I help people age 15 to 25 to achieve exam success through a six-stage training program. That's my niche. I started with the student, but it's the parents who have the money, so I was thinking of changing my niche to say I help parents by training their child for exam success, as parents are worried about this, too. What do you think?" Now I get it. You're saying, "So I'm thinking of changing my niche to say that I help parents." That's not changing your niche. That's just changing an ad, so your niche is helping the student, right? That's who you help. If someone who cares about the student cares, then it works. They'll pay for it, but it's all about the student, and you can just advertise it in different angles. You could advertise to the parent. Say, "Do you have children doing exams and do want to help them get better results?" Right? That's an angle for the ad. But then you could advertise to the student and say, "Are you a student worried about passing your exams?" You're not changing your niche. All you're changing is an ad. It's just a different ad. So I'll give you an example. When I was helping my wife do Facebook ads for wedding photographers because she had a few clients and she was doing that for fun, I said, "Well let's target people who are engaged and everything, and let's target the woman, but also let's turn it upside down and target the men, too." Because what can happen is that the man might know that he's about to get married and he knows that his wife's looking for a wedding photographer, so if he sees an ad that's talking about a wedding photographer, he's going to be interested on behalf of his wife. And we did the ad real cool, because no one thinks of this stuff. People just market to the women, but the women are bombarded with all of this crap, so we went to the man and I just found a T-Rex dinosaur in a wedding dress and the headline was, "Living with Bridezilla? Help her out by recommending this wedding photographer." That was the angle on it. And so it was kind of funny and it was targeted at the dude on thinking that he was going to get good points by telling his wife that he found a wedding photographer, but it's still the same niche. So go at it from both angles. See what works best. And you might advertise to both, you know what I mean? Like they both might work the same, and you might constantly advertise to both, or if one works clearly better than the other, just stick with that. But you're not changing your niche. This is just an ad thing. [Kahah 02:49:50] says, "Sam, you are so right about men needing to connect more with their feelings. This is an area I'm having issues with. Do you have any insights into how I could improve in this area?" This is funny, because I said something similar to this to my friend psychiatrist, who's helping me and he was getting me to try and tell him what feelings I was having, and I didn't really know how to feel then. And so what he told me was, "Look, what you're trying to do is you're trying to think a feeling. It doesn't work. You can't think a feeling." That's what you're trying to do right now. You're trying to look for insights into how you can feel. That's the problem. You don't think about feelings. You feel them. So that will help your brain figure that one out. It's not an analyzing thought process. What else could possibly help with that? Meditation will probably help with that. But also just talking to people, like just trying to talk to your wife, your girlfriend or your partner or whatever, or your friend or something, and try and explain your feelings and just try and get better at talking about it because when you start doing that it will start to happen for you more. I can see where you're getting caught because you're trying to think a feeling and that doesn't happen. [Sheenal 02:51:48] says, "Personal question. I know you're open minded regarding different religions. Have you ever spoken to Jehovah's Witnesses. It seems that they have the truth, which makes a lot of sense. Mind blown. Please have a brief chat with them and see what you think." I honestly don't really read into that stuff that much because it's not really ... As far as I'm concerned, it's not really like relevant. What I'm trying to do is I'm just trying to help people start their own consulting business and everything, and I think any one religion is dangerous. You've got to be open minded. Because that's what caused all the world's issues in the first place. (silence) We'll do a few more questions here. It's almost six, so we'll just do a couple more and then we'll wrap up here. McBilly says, "Sam, do you recommend doing DM on a niche you're not passionate about just to make money first, especially when you're in the beginning of your business?" No. Don't do that. Just start where you're passionate about. It's going to help you a lot. (silence) Steve says, "Sam, other than heavily reinvesting in your own business, is there anything else that you're investing in?" Not really right now. I like to always have a lot of cash, and I think that's a smart move. Quite a lot of the time, people ... this is a huge lesson for most people on money. But quite a lot of the time, as soon as someone has some money in their bank account they think, "Oh, my God. I've got to invest all of this damn money." And that's not true. Some people think if you have $100 grand sitting in your bank account and you haven't invested it, that's dumb. I think investing the 100 grand, if you only have 100 grand, it's dumb because you always want to have a lot of cash because you never know what's going to happen in the future, and what you'll find is if you actually look into this more, is that all major hedge funds that make billions of dollars, they never are in a situation where they don't have 50% of their entire fund sitting in cash. So if they've got a billion dollar fund, 500 million will be sitting in cash. 500 million will be invested. They'll never ever ever go less than 50% cash, ever. Not even if they spot the best damn investment in the world because it's just too risky, and so that's what the top hedge funds do, and you can learn a lot from that. Also, Warren Buffet, he's got a quote which he says all the time. "I couldn't sleep at night without holding 50 billion in cash." He said it. Because having that money sitting in cash is extremely important, and that's often ... you realize that most money is made during bad times, and what happens is that when everyone else gets screwed because they were too greedy, you're the one that just steps in and cleans up. You loan people money. You're buying people's business off them for nothing. Buying houses. Buying their boats. Buying their cars, and you sell it back to them when they're good again, and so that's where all the money's made. All billionaires are made pretty much in bad times when the blood is running red through the streets. That's when most billionaires make their money, and so in good times it's dangerous. And right now we're in a pretty damn good time, so I'm trying to hold as much in cash as I can, and I'm invest in my own business. If I see a good opportunity, I'll invest in it, but I'm not itchy to put my money into something because I like to always hold a huge amount of cash. All right. We'll do one more question then I'm going to wrap this one up. Robert says, "Hi, Sam. I am a high-performance coach and have a framework used by about 400 other really great coaches. What are the best ways to distinguish myself from also great coaches?" Well you've got to define why you're better than them. The best way to distinguish why you're better than others is to be better than others, and then tell them why. The best way to find out this answer is the fact that you've got 400 people using your thing. That's a good sign. Ask them why ... I would go back, talk to them, say, "Why did you buy my thing instead of everybody else's thing? There's a million coaches out there. Why did you buy mine? Why not someone else's?" And then they're going to give you that answer. All right. That's going to be it for today. If you've got any feedback for how we can improve these things, just let me know in the comments and we'll listen to that and see how we can improve these things. And if you liked this, just hit that like button right now just to give me some feedback if you enjoyed this. Awesome. Lots of likes. Cool. Well, thanks everyone for attending. Just let me know in these comments what we can do to improve these things moving forward, and we'll try and hold another one of these things soon. Thanks.

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