Latest / Ambitious Podcast / EP.91: The HARD Truths of Entrepreneurship | The Ambitious Podcast
Transcript
- 0:00I hate to sell. I hate selling.
- 0:02If you cannot sell it, you do not have a business, you have a
- 0:05hobby. Do you see people outside and
- 0:07they're all standing in the rain and they're getting soaked?
- 0:09Do you feel bad for selling them an umbrella?
- 0:11You are the bottleneck of your business.
- 0:14The market does not care about your feelings.
- 0:18Most people are going to quit too early because they couldn't
- 0:21stomach the consistency of the slow, boring stuff.
- 0:25The successful entrepreneurs are not the ones with the best idea,
- 0:28they're the ones who execute the fastest.
- 0:30You either adapt or you die. Hello and welcome back to
- 0:35Ambitious. Today we are talking all things
- 0:37about the hard truths of what it actually takes to be an
- 0:41entrepreneur. So many of us want to understand
- 0:44what are the strategies we need to know?
- 0:45What are the steps we need to take?
- 0:47What are the hacks? What are the tactics?
- 0:50But I don't think enough of us ask the question of who do we
- 0:54really need to become to step into that full expression of
- 0:59what it truly means to be an entrepreneur.
- 1:01And not just to call ourselves an entrepreneur, but also to be
- 1:04a very successful entrepreneur. And as someone myself who has
- 1:08coached all kinds of different stages, I've coached people who
- 1:11are brand new in business all the way up to people who are
- 1:14doing multiple 7 figures a year. And there are just some truths
- 1:19that you need to accept and that you have to swallow if you
- 1:23really are wanting to have longevity in this game of
- 1:27business. And so today I'm going to go
- 1:29through what I consider to be some of the top hard truths that
- 1:33many people that I know who are very successful have not only
- 1:37identified but have accepted deep into the way that they
- 1:41operate as a person and also in their business.
- 1:51So one of the things that we know is that a lot of the things
- 1:56that we want to see success in, that we want to see momentum in
- 1:59are often kind of boring, right? Like if you think about even the
- 2:02goal of wanting to, for example, get more fit, well, there's
- 2:06obviously all of the hacks and tactics.
- 2:08You can do the intermittent fasting, you can do the keto,
- 2:10you could do the carb cycling, you could do the juice cleanse,
- 2:15you could do all of the things. But at the end of the day, what
- 2:17we know works, it has worked, it still works is moving your body
- 2:22and eating healthy. But why do none of us do it?
- 2:25That's because so many of us struggle to just stick to that
- 2:28simple, basic, straightforward plan because it is slow and it
- 2:33is simple. And as a result of that, it's
- 2:35boring. And so a lot of things that I
- 2:38will say are the most needle moving in a business are also
- 2:42the same way. A lot of the things that you're
- 2:44going to see change with and momentum with often times can
- 2:47feel a little bit boring. And so hard truth number one is
- 2:51that there's a lot of people who cannot stomach the season or
- 2:56seasons it takes to just do the boring, slow stuff that is
- 3:03required to have the business that you want as entrepreneurs
- 3:06and myself included. Like I, I, I'm not saying this
- 3:09from my high horse, like I am someone who's lived and breed
- 3:12this myself. We have this like need for the
- 3:16dopamine hit. We have this kind of like, you
- 3:17know, what's the next big problem?
- 3:19What's the next big offer? What's the next platform we're
- 3:21going to, We're always looking at like, what's next?
- 3:24What's the next big thing? And that's because we're looking
- 3:26for that dopamine hit. We're looking for that, you
- 3:29know, next big exciting thing that makes us feel like we have
- 3:32a challenge. But what if the growth in your
- 3:35business right now was gonna come from the, quote UN quote,
- 3:40eating clean and going to the gym?
- 3:42And so this is an invitation to ask yourself, what are those
- 3:45simple things? What are those things that, you
- 3:47know, move the needle because they've moved the needle before.
- 3:50Maybe they're the thing that brought in your last client.
- 3:52They're the things that, you know, have helped your business
- 3:55to be able to scale. But you sometimes find yourself
- 3:58being like, could it really be that easy?
- 4:00Or could it really be that that's the thing that I have to
- 4:03do to see this grow where I want?
- 4:05And I think a lot of the time, because many of us don't believe
- 4:09that those simple, slow, consistent, sustainable things
- 4:14are going to help our growth, we move on and we decide to put our
- 4:18attention, our resources, our money, our time elsewhere.
- 4:21And so a lot of people I will see when I work with them,
- 4:26they'll quit way too early on something that was going to work
- 4:30because they just simply could not handle how simple or basic,
- 4:36truthfully the actions are that actually would move the needle
- 4:40in their business. So I want you to really think
- 4:43about what is a moment or a time or an area where you were so
- 4:47impatient with progress, you were so antsy that it has been
- 4:51more complicated. There had to be something else
- 4:54other than what I'm doing right now.
- 4:55And that's the reason we're not growing.
- 4:57You had all these reasons you had to pivot or change elsewhere
- 5:01and it took you away from the thing that moved the needle.
- 5:03And I, this happened for me because I remember when I was
- 5:06growing and scaling my business, one of the core ways that I had
- 5:09generated sales in the beginning was that I was on live, I was
- 5:12interacting with my audience. I was, you know, doing Q and as
- 5:15and things like that. And I remember as I scaled, I
- 5:17kind of got away from that and I stopped doing it because I
- 5:20thought, OK, well, like I've scaled, I've scaled outside of
- 5:22these activities. And it's interesting because I
- 5:25remember when we started to scale out of things, right?
- 5:27I told myself that I had scaled up.
- 5:29I don't do this anymore. I really hadn't taken enough
- 5:33time to assess what was moving the needle.
- 5:36And I kind of scaled out of some of the activities that were the
- 5:39reason we were scaling in the 1st place.
- 5:41So then we started to be like, why do we feel like this is
- 5:44straining? And that's because we got away
- 5:46from what was the simple needle moving actions that were helping
- 5:51us to grow the business. So hard truth number one is that
- 5:54truthfully, most people are going to quit too early because
- 5:59not that their idea wasn't good, but because they couldn't
- 6:02stomach the consistency of the slow, boring stuff that was
- 6:06actually the thing that was going to move the needle.
- 6:08The other thing I want to say is that a hard truth.
- 6:12I feel like I kind of live in this bucket with a lot of people
- 6:15as a business coach myself. And you know, I, I have a lot of
- 6:19people who come to me for ideas. I have a lot of people who come
- 6:22to me to say, give me the strategy, give me the insight,
- 6:24give me the steps, tell me basically that the blueprint of
- 6:27what to follow. And if you tell me that I'm
- 6:30going to run with it. And truthfully, of all the
- 6:33entrepreneurs that I've coached, there is one core difference
- 6:36between the people that I know that have 2345X to their
- 6:40business in six months versus the people who don't.
- 6:44And that is all about execution. And I have entrepreneurs that I
- 6:48will give them on a call and inside of something that I want
- 6:51them to do. And they will literally get off
- 6:53a call with me and like hop on to their live and start to
- 6:56integrate it. I'll give them an idea for a
- 6:58podcast and they'll be like, hey, two days later, here's the
- 7:01episode, can you review it? I will give them insights on
- 7:04something when it comes to their closers or their team to say,
- 7:07this is what you need to adjust on your calls.
- 7:09And they come to me two days later being like, hey, I secured
- 7:1170K in revenue with the changes. Thanks so much.
- 7:14There's just this like speed of integration that they have.
- 7:17That really is the difference of the growth that they have in
- 7:21their business and also the growth they have in a lot of
- 7:23areas of their life. And so 1 core thing that I think
- 7:26many don't quite integrate as a, a deep belief and as part of
- 7:31their identity as an entrepreneur is like, it is not
- 7:34about the ideas. There are 1,000,001 different
- 7:36people out there who have had an idea for a business, they've had
- 7:39an idea for marketing, they've had an idea for sales.
- 7:43And they have the idea and they sit on the idea and they
- 7:47brainstorm the idea and they write it in a journal.
- 7:49And then they even might even draw it out and they might even
- 7:52go as far as making a big plan of how they'd make that happen.
- 7:56They put it on their vision board.
- 7:58They do all the things that they believe are the the
- 8:01conceptualizing, they need to see the progress they want.
- 8:04The thing that so many missed the mark on is that it's not
- 8:07about the idea, it's about the execution.
- 8:10And so I also will say one of the difficult things for a lot
- 8:14of people is like your ideas are just ideas.
- 8:17They're going to sit there and they're not going to become
- 8:19anything unless you execute on them.
- 8:21And so I often tell people, you know, look at your business
- 8:24right now, what are the things that you have awareness of that
- 8:27you have ideas of things that you have planned, even
- 8:30potentially things you've brainstormed, you've put on the
- 8:33vision board. But if you're really honest with
- 8:35yourself, you haven't really executed, you haven't really
- 8:38integrated. And a hard truth is the
- 8:41successful entrepreneurs are not the ones with the best idea.
- 8:43They're the ones who execute the fastest and to execute the most
- 8:47aggressively. And I would even argue with some
- 8:50of the entrepreneurs that I coach, they're not even the
- 8:53smartest. Like I'm not even going to say
- 8:56that I'm the smartest. Like I don't, I don't believe a
- 8:59lot of the people that I coach are the smartest people on the
- 9:03planet. I don't think that I'm the
- 9:04smartest person on the planet, right?
- 9:05Or even an entrepreneurship for that matter.
- 9:08It is not just about the fact, OK, well, you need to be the
- 9:10smartest. You have to have the best idea,
- 9:12the most groundbreaking idea. If you have two people and one
- 9:15person has a better idea, but they never execute it, but the
- 9:19other person has a gist and they press action right away and they
- 9:22learn through the doing who's going to be ahead quicker.
- 9:26And it's an invitation for us as entrepreneurs to say, what is
- 9:29the idea? What is the brainstorm or the
- 9:32the concept I have that I really am not executing on?
- 9:36And it might not even necessarily just be in business.
- 9:38It could also just be in your life.
- 9:39Is there something that you've been talking about and you've
- 9:42been circling around and you've even shared with other people
- 9:45And again, you've planned, you've had it as a vision, but
- 9:49when you really give yourself that accountability, you haven't
- 9:51done anything about it. And that was this podcast for
- 9:53me, this podcast was something that I had, you know, talked
- 9:57about and conceptualized and thought of for so long.
- 10:00And I kick myself every day that I did not start it earlier.
- 10:04And that's because I just like I'm saying, I'm not saying these
- 10:07from a high horse. I too fall into these traps of
- 10:11of not always flexing this muscle as fast or as
- 10:15aggressively in every area of my life as I need to.
- 10:18So like, these are still, even for me constantly ones that I go
- 10:21back to to hold myself accountable and say, where can I
- 10:23be better? And the podcast was a really big
- 10:25aha moment for me because it made me realize that I was
- 10:29pushing off this idea for what I was talking about.
- 10:32I need to have a nice set here and I need to, you know, have
- 10:36good editing and I need to have all these things.
- 10:38Well, at the end of the day, as many of you had shared with me,
- 10:41so thank you, many of you have shared.
- 10:44Like I don't even care. I just love, I love listening
- 10:46while I'm on a walk or I love listening when I'm in the car or
- 10:49I love it's just like listening while I'm working out or even
- 10:52having this on the in the background.
- 10:53Maybe you're watching this while you're working right now.
- 10:55Like there is not this need for fancy editing.
- 10:59There's just need for having the conversation and the
- 11:01information. And so it really is not about
- 11:05just this idea of what can I conceptualize or create or think
- 11:09of. It's a matter of what you can
- 11:10execute. And frankly, the most success
- 11:12you're going to have is when you can execute fast.
- 11:15The other thing I want to say is that there's a big truth around
- 11:19marketing that is going to be a core pillar of your success,
- 11:23which is that the market does not care about your feelings.
- 11:29And this is a hard one for a lot of people to swallow, even for
- 11:33myself was a hard one to swallow because I, I kind of explained,
- 11:37okay, so there's been an era, for example, where we had like a
- 11:41ton of sales of ebooks. Ebooks were like the go to offer
- 11:45everyone and their mom was selling an ebook on the
- 11:46Internet. And then ebooks eventually
- 11:49became courses. And then everybody overnight, it
- 11:53was like a few people had courses.
- 11:54They were kind of like the new thing.
- 11:56And then all of a sudden it was like there was just over
- 11:58overload of courses. Every single place you went,
- 12:02someone had a course. And then from there we had the
- 12:06mastermind era, which is where there was every single person
- 12:09seemed to have a group program or a mastermind and everyone was
- 12:11selling you a group program or mastermind.
- 12:14And so in this, what ends up happening is there's waves in
- 12:19the market. There's waves of even in
- 12:21marketing, which is where we have, you know, the trends were
- 12:24all over the place and everyone was doing a trend.
- 12:26And we had that era where, I don't know if you remember this,
- 12:29where like people would have those videos where they had like
- 12:323 tips and they would have like a song and they would like be
- 12:34pointing to the tips. And it was like this again,
- 12:37trend era of marketing. But The thing is, it was an era,
- 12:42meaning that it had its moment and the market shifted.
- 12:47There's been shifts in the market of what kind of offers
- 12:49we're looking for in a given moment.
- 12:51There's a shift in the market of what kind of marketing we want.
- 12:53We had the Instagram era where everything was so aesthetic and
- 12:58every single feed was like a gallery of an art gallery.
- 13:01And now in a way, the more kind of chaotic and messy it is,
- 13:05somehow the better, right? And TikTok also accentuated that
- 13:08as of recent. So what we're seeing is that in
- 13:13marketing, in offers, in any industry, there's trends of what
- 13:17the market tells us people want and what they don't want, the
- 13:20way they buy and the way they don't buy.
- 13:23The customer changes the offer and what we actually crave to
- 13:27invest in changes. And the marketing, meaning the
- 13:31style of delivery of marketing that we like also changes.
- 13:35So when I work with someone and they say, well, this is how I do
- 13:39things, I often will say, OK, great.
- 13:42But if your only offer for example is something that a
- 13:46million and one other people have and your messaging is not
- 13:48distinct, this is not going to sell.
- 13:50Or if you're somebody who's only doing trends on marketing,
- 13:55that's not going to help you in building a personal brand if
- 13:59that's your goal. So what we're seeing is that
- 14:02markets shift. And when I have conversations
- 14:05with some entrepreneurs, they are very emotional and you might
- 14:09be one of these. So if so, this is an invitation
- 14:11for you to look at your business.
- 14:14Are you possibly somebody who's very romantic about the way that
- 14:18you do business? And this is a great quote that I
- 14:21heard that is actually from Gary Vee.
- 14:23And he said one of the quickest ways to go out of business is to
- 14:26be romantic about the way that you do business.
- 14:29And I just love that quote because I think it's so true.
- 14:32So many of us are so tied to the offer we have, the marketing, we
- 14:37have the way that we sell, the way our business has always
- 14:40been. And because of that, we really
- 14:43just put our stake in the ground that we just don't want to do
- 14:45business another way. And one of the hard truths of
- 14:48entrepreneurship though, is that the market doesn't care about
- 14:51your feelings. The market doesn't care that you
- 14:54like to sell this way. The market does not care that
- 14:56you like this specific type of marketing.
- 14:59If the market is changing, you either adapt or you die.
- 15:03And that is just the basis of entrepreneurship.
- 15:05And an, an easy, you know, example of this is Blockbuster.
- 15:10When we think about Blockbuster as a business, like we, I
- 15:12remember as a kid, we would go in and have those experiences
- 15:15where you'd like walk down the aisle and you'd pick out the
- 15:18core videos that you wanted to rent with your family for the
- 15:20weekend and the Dropbox we put them back into, right.
- 15:24And then we started to get into DVDs, which then started to
- 15:28become on the shelves to replace the VHS.
- 15:31But then, you know, the equivalent of Netflix came
- 15:33around and being able to literally just stream from your
- 15:37TV and have all the movies there and never go to a store.
- 15:40And I remember, you know, learning about Blockbuster and
- 15:43the fact that they had the invitation to move into this
- 15:47style of business. And they were like, no, this is
- 15:49how we do business. This is how we do things.
- 15:52And so they didn't want to become, you know, part of the
- 15:56Netflix and part of, you know, that era of getting it on your
- 15:59home TV Since then, I believe, and I could be wrong, but I'm
- 16:02nearly certain there's only one to two actual physical locations
- 16:05of Blockbuster left in the United States.
- 16:08So this is a testament to you either adapt or you die, right?
- 16:14Like it's also, we see this in marketing companies that were,
- 16:17you know, having certain styles of marketing that we're not
- 16:19nearly close to inclusive. And then the market demanded
- 16:24something different. They had a different
- 16:26expectation. And they said, if we're going to
- 16:27support a brand and invest with them, we want to feel like
- 16:30there's more inclusion of different types of cultures in
- 16:34this marketing. And so if a company was like,
- 16:37well, then I'm not doing that that marketing and therefore
- 16:40those sales would be really impacted.
- 16:43So it is an opportunity for us to really recognize that you can
- 16:46feel however you want to feel about your business right now.
- 16:49You can feel however you want to feel about your offers or the
- 16:52way you sell or the way that you market.
- 16:54But if it does not match the desires of the market itself, it
- 16:59doesn't matter because that is your consumer.
- 17:01Those are the people who are going to be buying your product.
- 17:04So it's not a matter of just if you're happy with your business.
- 17:07It's also a matter of is my business designed to make my
- 17:10customer and my audience happy for what they care about, what
- 17:15they want and what they're looking for.
- 17:18The other thing that is another truth that I really wanted to
- 17:20share is that especially as someone who works with basically
- 17:23all scaling businesses at this point, your growth is going to
- 17:28experience the weakest part of your business, the weakest link
- 17:32potentially in your business. So every new client, every new
- 17:36offer you create, every new team member that you hire, each of
- 17:39these are an invitation that are going to potentially magnify the
- 17:43inefficiencies that you could kind of hide in when you were
- 17:49smaller. And you know, when you're
- 17:51smaller in business, you're usually a little bit more
- 17:53scrappy, right? Like you're kind of a little bit
- 17:55more. Yeah, you're less formal.
- 17:57You don't necessarily have to have all these formalities
- 17:59because without having the formalities, you did just fine,
- 18:02right? But as you scale especially, I
- 18:05would say this is really relevant with, for example, team
- 18:09members, because if you expand your team and you hire more
- 18:12people, but you don't necessarily have an
- 18:15understanding of what their roles are, what the outcomes
- 18:18are, tracking of their time. If you pay hourly, if you don't
- 18:21have some of these pieces set up, you're going to throw a lot
- 18:24more people, a lot more cost a lot more tasks into the mix and
- 18:28without proper structures, you might just have a mess on your
- 18:32hands. So it really is looking at,
- 18:35okay, well, when I hire these team members now, I feel like,
- 18:37Oh my gosh, I'm, I'm struggling to see what everybody's doing.
- 18:41It often when people hire especially and they expand their
- 18:44team, it really starts to magnify the inefficiencies that
- 18:48are happening because of lack of systems, because of lack of
- 18:51automation, because of lack of data.
- 18:54So that's something we see. We also see for example, in, I'm
- 18:57thinking about as well, you know, marketing.
- 19:00One of the core things I see in marketing is that when someone
- 19:02tries to hand off their marketing or they try to get
- 19:04support with their marketing, they don't really have a
- 19:07framework to how they do things. And even in coaching this is
- 19:09true as well. People try to have a Co coach or
- 19:12they'll try to in an agency delegate to somebody else to do
- 19:15the task. But because you don't really
- 19:17have a framework on how you're doing this, you don't really
- 19:21have, you're like, well, I just kind of do it or I just kind of,
- 19:24you know, I know what to do or I have this, I have a framework in
- 19:27my head, but it's not documented anywhere is the number one thing
- 19:30that I hear. So when you don't have something
- 19:33documented, then you go to give it to somebody.
- 19:35You think I'm going to scale, I'm going to expand.
- 19:38And so you hire the person to do your marketing and you try to
- 19:40hand off your marketing and you hire, maybe you know, someone to
- 19:43help with delivery and you expand your agency or you try to
- 19:46grow by adding more people. But the problem is when you
- 19:50don't have any framework to teach them because you've never
- 19:54needed one, right? If it was just you, when you try
- 19:56to grow in your offers or marketing, then you're like,
- 20:00well, why do I feel like my clients are not getting results?
- 20:03Why do I feel like I'm starting to see my marketing momentum
- 20:05slowly die and kind of deplete here?
- 20:08That's because it really brought to the surface that you really
- 20:11have been winging it. You've really been kind of, you
- 20:14know, deal with this client as I want to answer that message as I
- 20:16want to. There really hasn't been any
- 20:19streamlining of how you do things and now it's presenting
- 20:23itself in this moment because you're growing.
- 20:26So one of the things that we we know and we anticipate is that
- 20:30when you scale, you need to be ready that all all the
- 20:33inefficiencies, all the things in your business that have been,
- 20:37you know, areas of opportunity, maybe things that haven't been
- 20:40leveraged, things that you know, need refining, those things that
- 20:43you've been ignoring. Yeah, we don't really care about
- 20:45the data. It's not a big deal right now or
- 20:47oh, we don't need those frameworks because it's not
- 20:49important right now. When you grow, you will not be
- 20:52able to get away from those things.
- 20:54They will present themselves and they will show themselves almost
- 20:57instantly. The other thing that I will say
- 21:00is a big thing that shows itself in scaling his mindset.
- 21:04Because when you as ACEO or as a leader of a business have not
- 21:08taken the effective time and the effective resources to really
- 21:13unpack your mindset and to have that mindset routine, you are
- 21:17going to feel it. You're going to experience it.
- 21:19Because really when you scale, there's this aspect of letting
- 21:23go, there's an aspect of releasing of expectations of,
- 21:27you know, my way or the highway in some areas, not entirely, but
- 21:31you want to be, you know, adapting to what your
- 21:33expectations are. And then there's also this, this
- 21:37lens of regulation, right? So when you grow, I often will
- 21:42see that the CEO, the person that's actually the one in the
- 21:46business, you will start to see that they really start to get
- 21:49stretched because the comfort level they were at.
- 21:51Let's say you're doing, you know, 500,000 a year in your
- 21:54business. If you're at 500,000 a year in
- 21:57your business and you try to go to 2 million, your lack of
- 22:00mindset practices, your lack of regulation, your lack of, you
- 22:04know, mindset fundamentals are going to show themselves.
- 22:08Because when you have more people to manage, more tasks to
- 22:11manage, more responsibility, more pressure, and you don't
- 22:14have tools to overcome that, it will present itself.
- 22:18It will show itself. So one of the things you want to
- 22:20accept is that as you grow, the things that you think or oh, I'm
- 22:24not going to worry about that, the thing that you are ignoring
- 22:26is often going to be the thing that immediately presents itself
- 22:30when you try to grow to the next level.
- 22:32The other thing that I talked to a lot of people about when we
- 22:35are thinking about scaling is also the bottleneck, right?
- 22:38Like they're trying to figure out what is the resistance
- 22:41point? What's the thing that's causing
- 22:42my business to not grow? What are, what is the thing that
- 22:44I need to dive into or I need to refine to get me to the next
- 22:48level. And a lot of the time, a hard
- 22:52truth that you're going to have to acknowledge is it's you.
- 22:57You are the lid of your business.
- 22:59And I know that there are so many when I say that and I've
- 23:02done intensives where I literally have to say to the CEO
- 23:04is like, listen, this is you're the problem here.
- 23:07And they're like, I'm not the problem.
- 23:09The team member, it's them, they're doing blah, blah, blah.
- 23:11Or it's the industry, it's the marketing, it's the blah, blah,
- 23:14blah. And they have all these people
- 23:16to blame. And I'm like, yes, but if the
- 23:19team member is not fulfilling their expectations, who train
- 23:24them? If the team member doesn't know
- 23:26where they're supposed to put something, where's their SO?
- 23:29PS If the team member is not getting you the outcomes you
- 23:32want for the business, where's their KPIs?
- 23:35If the team member it, you know, like the list goes on and on.
- 23:38And it's because it all stems back to you.
- 23:41One of the hardest things for many business owners to accept
- 23:45is that it's still all, it's always you, it's your business,
- 23:49and it's always something connected to you.
- 23:53So does this mean that like if you have a team member who's
- 23:56just not pulling their weight, that you're like, oh, I should
- 23:59just forever let them stay because it's always my fault?
- 24:02No, it means that you have to take radical responsibility if a
- 24:06team member doesn't work out. As to how did we miss something
- 24:09in the hiring process? If this is truly just a
- 24:12personality flaw, how did we, you know, not train the way that
- 24:15we needed to? Maybe we didn't have effective
- 24:17resources for them to use to guide them in their execution.
- 24:21Like where could we have done or performed better or shown up
- 24:24better for this person to be able to get them better or
- 24:29different results? And so when we look at
- 24:32ownership, you are off in the bottleneck because your
- 24:36expansion is needed for your business's expansion.
- 24:40There's also situations I've seen, like I have an agency that
- 24:43I work with and the CEO just like really loves to be in the
- 24:46weeds, really loves to be, you know, in, in the thick of it, in
- 24:49the fire. And it's part of why they love
- 24:51their business. But the thing that is capping
- 24:54the business is the fact that this business owner will not get
- 24:57out of the weeds. And that is because they have
- 25:01team members, But the team members they delegate to, they
- 25:04kind of still want to hold the reins a little bit.
- 25:06They still want to be a little bit in the mix just so that they
- 25:10have a role in it. But when they have so many team
- 25:12members and they kind of want to be in the mix with all these
- 25:14team members, it means they're kind of just not really out of
- 25:18the business. They're not out of the
- 25:19day-to-day. They kind of put themselves back
- 25:21in. So again, in this situation,
- 25:24they are the bottleneck. If for example, you find
- 25:27yourself saying, well, this is not something that I can
- 25:29delegate or I can't teach this, or only I know how to do this,
- 25:33again, you are the bottleneck. If you also have beliefs about
- 25:38what is possible in your business.
- 25:39If you have beliefs around, you know, my business can't possibly
- 25:43have as many clients or my business can't possibly do this
- 25:46without working more hours. Again, this goes back to
- 25:48mindset. If you have not opened and
- 25:51increased your vision of what's possible for your business, your
- 25:54business will never exceed that vision because you as the owner
- 25:58of the business are responsible to translate that vision, that
- 26:02picture of what you see for the business to your team.
- 26:05So if you are capped in your vision and what you see
- 26:09possible, your team will never exceed the vision that you set
- 26:12for the business on the contrast.
- 26:14If you do the work and you do actually look to put this time
- 26:18and energy into this and you expand your vision and you have
- 26:22this big picture and it's detailed and you understand
- 26:24where you're going and why you're going there.
- 26:27And every year you're looking to kind of update this vision to
- 26:30keep it expanding as your team grows, that allows as you expand
- 26:35your team to follow with you. But often times what can happen
- 26:39is you're staying stagnant as ACEO, so your business stays
- 26:43stagnant or worse, you stay stagnant.
- 26:47But some of your team members or some of the people who work with
- 26:49you grow, grow, grow, grow, grow, and they actually outgrow
- 26:52you and they leave because they recognize that this is kind of a
- 26:56sitting duck. This is not something that's
- 26:58moving. I'm not feeling momentum.
- 27:00I'm going to go get better elsewhere.
- 27:02So it's something that is so important because in so many
- 27:06areas, it doesn't really matter the scenario.
- 27:07There's a million that I can mention.
- 27:10Oftentimes you are the bottleneck of your business.
- 27:14And I think it's something first we have to accept and be able to
- 27:19really just like say to ourselves, OK, like, wow, I am
- 27:21the lid of this. Like I'm the thing that has to
- 27:23get out of here or I'm the thing that needs to create better
- 27:25systems or I have to do X. Like to have an awareness that
- 27:28it's you is like the first step, but then the second is like,
- 27:31what do you want to do about it? All of us have moments where we
- 27:35kind of get in the way, right? We all have these moments where
- 27:39we probably are like, OK, I got to get out of here.
- 27:41Like this is not where I'm supposed to be in the business,
- 27:42right? It's OK to have these moments
- 27:44where you fall behind. But having the awareness of it,
- 27:47as we talked about earlier, having that clarity versus
- 27:49execution are two totally different things.
- 27:52So if you know that you're the bottleneck right now, the
- 27:54question becomes how do you plan to remove yourself as a
- 27:57bottleneck? What is the strategy to remove
- 28:00yourself as a bottleneck? Or maybe it's not even a
- 28:03strategy thing that needs to happen, but it's more a matter
- 28:06of you need to be OK with no longer being the bottleneck.
- 28:11Because here's the thing, people think that they don't want to be
- 28:14the bottleneck of their business, but sometimes we
- 28:16actually get positive reinforcement from staying in
- 28:19something, meaning staying as the bottleneck.
- 28:22So like this client that I mentioned who's in the mix,
- 28:25they're not in the mix because like they're aware that they're
- 28:30the bottleneck. They're aware that because they
- 28:32have to approve things and review things and all of this
- 28:35that they are the reason that the business is slowing down is
- 28:38because like they don't have enough time to get things back
- 28:40in time for the team and it kind of derails the rest of the
- 28:43group. But the reason they're in, we
- 28:46uncovered was not because they like to slow down everybody
- 28:50down. It was because when we got down
- 28:52to a deeper level, there was this, this fear of like, well,
- 28:57if I leave the business in this regard, like, what am I going to
- 28:59do? Like what's my role, What's
- 29:02going to be my place moving forward?
- 29:03Like this is what I've always done.
- 29:04This is the place that I've always been in the business.
- 29:06And so if I leave here, where do I go?
- 29:09Like, what does that mean for me?
- 29:11Where it what do I end up doing? What's the next step?
- 29:14And So what we identified was this person was not in the weeds
- 29:17with their team because they didn't trust their team.
- 29:19It wasn't because they didn't, you know, believe that they
- 29:21could delegate these. It had nothing to do with that.
- 29:24It had everything to do with the fact that there was this
- 29:27acceptance that had to happen that if they were going to go to
- 29:30the next level, their role as the CEO was going to change,
- 29:33that they had to be OK and accept that.
- 29:35And so that became the question which is could they accept that?
- 29:38Could they accept that the identity of where they had to go
- 29:42as the CEO was going to change and only if that happened with
- 29:45the business continue to scale. And so eventually we got this
- 29:48person to that place. But it is something that, again,
- 29:51only came up because they accepted that they were the
- 29:53bottleneck of the business. One of the great quotes that I
- 29:57learned from a a mentor that I worked with previously, George
- 30:01Bryant, he had a quote that he shared with me early on in
- 30:04coaching. And it was that scaling comes
- 30:08from retention, not from acquisition.
- 30:11And this is something that I really think a lot of business
- 30:17owners, and it's fair that this might be a misconception you
- 30:19have that, you know, it's just about selling more and it's
- 30:21about more marketing. And it's about all that the real
- 30:25way to scale your business is not through more marketing and
- 30:28it's not through more sales. It's not just about we need to
- 30:31sell, sell, sell, and we need to market our little tush off.
- 30:33And if we do that, that's the way we're going to grow this
- 30:35business. It really has everything to do
- 30:39with retention. Because if you think about a
- 30:42client that pays you, let's just say $2500 a month or $2000 a
- 30:46month, and this client pays you $2000 a month and that client
- 30:50stays with you for three years, right?
- 30:54That if you have a six month contract, if you didn't have
- 30:57that client, you would need five other clients to generate the
- 31:01same amount of revenue as that one client staying with you for
- 31:04three years. So the thing that I think most
- 31:08people miss the mark on is that in business, especially in the
- 31:13online world, there's a lot of, you know, we need, we need tech
- 31:16talk, we need podcasts, we need Instagram, we need more
- 31:18marketing, more marketing and you always need marketing.
- 31:20It's not to say that you should stop marketing by any means.
- 31:22You do, you still have to have new leads coming in, but the
- 31:26amount of pressure, the amount of urgency, the amount of
- 31:30intensity at which you need those leads or at which you need
- 31:35that pressure around sell, sell, sell, sell, sell, sell.
- 31:37That's going to feel so intense if you have no retention.
- 31:42Like I have scaling businesses that I work with that are doing
- 31:45multiple 7 figures and like they are not bringing in, you know,
- 31:4820 leads a week. Like they are not at a place
- 31:51where they're having to bring in tons and tons and tons of new
- 31:53people because they have retainer clients or they have
- 31:57ongoing monthly payment clients. And those clients are very happy
- 32:01clients and they've been paying them for years.
- 32:04So what most people don't understand about scaling and
- 32:08even growing a business is that what you should be focused on
- 32:12first and foremost is making sure that your existing clients
- 32:15are happy, your existing clients are getting results, that your
- 32:18existing clients are satisfied. And only once you do that will
- 32:22you then be able to then pivot focus on to marketing and sales.
- 32:26Because I want you to think about marketing and sales are
- 32:28the lifeline of a business. But no one ever said that the
- 32:31sales had to come from new leads.
- 32:34Think on that for a second. Sales are the heart of the
- 32:38business, but no one said that the sales had to come from new
- 32:42leads, right? So if you think about how fast
- 32:47are you burning through people in your business right now?
- 32:50So like if you have someone who joins with you for three or six
- 32:52months, do they leave after three or six months?
- 32:55Or are they kind of with you for a year and a half or two years?
- 32:58If you are signing people for six months and then they're
- 33:00leaving and then they're leaving and they're leaving, that is a
- 33:03huge problem because it means that you're constantly starting
- 33:06back at 0, which is why you're struggling to scale.
- 33:10Effective scaling comes from focusing on retention first and
- 33:14foremost and most importantly before going into anything
- 33:18acquisition focused, meaning the generating of new clients.
- 33:22So that is something that I would say is a hard truth
- 33:24because marketing and sales is very sexy.
- 33:26The front end marketing feel really exciting and it feels
- 33:29really, you know, liberating and kind of like energizing.
- 33:33But The thing is, it's not something that will actually
- 33:36just in focusing on that alone truly help you to scale.
- 33:39The other thing I want to also note is, and this is something
- 33:42that has come up very recently within all businesses that I'm
- 33:46involved with, is that cash flow issues do not disappear just
- 33:51because your revenue grows. And I think that there's this
- 33:54belief, like there's a series of different financial situations
- 33:57that can happen in a business, but some financial situations
- 34:02cannot be fixed by just making more money.
- 34:06And I'll give you an example. I had a client and they were in
- 34:09the marketing agency space and they came to me and they were
- 34:13like, Kate, we are bringing in like fifty $60,000 a month and
- 34:18we are not making any money. We need more sales.
- 34:21And I was like, like if we're making fifty $60,000 a month and
- 34:26we're not making any money, you making 120 a month is not going
- 34:29to fix the problem. I was like there is something
- 34:31else going on here. So I said send me your PNL, send
- 34:34me your offer breakdown. We have like a process we go
- 34:37through with clients to help them to determine their profit
- 34:40margins for their business. And so when we went through this
- 34:44exercise, we realized very quickly that if they signed more
- 34:49people, they were literally just going to put themselves deeper
- 34:52and deeper into a hole because on some clients that they were
- 34:55serving, they were actually losing money, meaning like they
- 34:58were paying A-Team member to serve this client and they were
- 35:01in the negative $500.00. So if they kept serving that
- 35:04client, again, if we want people to have retention, if that
- 35:08person had stayed for a year, which what we'd hope for
- 35:11retention purposes to scale a business, if that person stayed,
- 35:15but they were actually in the negative with that client, 505
- 35:18hundred 500 every month over a year, you're taking a big loss
- 35:22on that client. And So what we realized was
- 35:26their margins were basically non existent, inexistent, non
- 35:31existent. And So what we looked at, and
- 35:34I'm going to give you an example, Say you have a client
- 35:36who's paying you $2000 a month. This is getting a little nerdy,
- 35:39but hang on. OK, it's I'm right, I'm right
- 35:40here with it. The client pays you $2000 a
- 35:44month, but it costs you with, you know, maybe let's just say
- 35:47if it's social media, you have an editor, you have a designer,
- 35:50you have a copywriter, you have all these people and you have
- 35:52taxes. OK, So you Add all of those
- 35:55pieces together underneath the expenses of this client and this
- 35:59client is costing you $19195.00. So what happens is that the
- 36:06client pays you 2000 and then you have to pay back to the
- 36:09business through team and other things almost 2000, which means
- 36:13yes, you have team members, yes, you have a client, but you are
- 36:15awash. You're not making any money in
- 36:17the business. I have seen businesses that have
- 36:21continued that way sometimes for a year and a half, meaning the
- 36:25clients are paying them, they're paying out to their team and
- 36:28they are literally just rinsing money.
- 36:30There's no generating of any growing behind the scenes of any
- 36:34kind of money. There's no reinvesting because
- 36:36there is nothing to reinvest. There was no profit.
- 36:38So with this client, they truly said they like if I just get
- 36:42more clients. I said, listen, this and you
- 36:45getting more clients, I actually recommend you don't get new
- 36:47clients right now. Because if you signed more
- 36:49clients, you're going to go deeper and deeper and deeper
- 36:52into the negative, which means you're actually adding on to
- 36:55your lack of of profit. Your loss this year would become
- 36:59greater if you signed more clients.
- 37:02So This is why understanding numbers, understanding profit
- 37:06and loss, understanding, you know, packages and percentages
- 37:09and all these things are really important because if you don't,
- 37:13it means that if you just keep believing more marketing, more
- 37:16sales, you pushing and marketing and sales could actually be the
- 37:20thing that's the reason your business is staying stuck.
- 37:23And I will tell you one of the things that I work on with a lot
- 37:28of people is their offers, their PN LS, their pricing, their
- 37:31packages, like all of it. And the reason that I do that is
- 37:34I want people like yourself to be educated around how to make
- 37:39smart financial decisions for your business.
- 37:41And also to know when at a given moment you need to, you know,
- 37:45make certain adjustments or make certain changes or, you know,
- 37:48look at being educated in the choices to make, the decisions
- 37:52to make and when to make those. And the other thing which kind
- 37:55of coincides with this, which is another hard truth, is that I
- 37:57think many people believe that just making more money will be
- 38:03the thing that helps them to finally feel rich.
- 38:07I was actually in this conversation with somebody
- 38:09yesterday because what I was I was explaining is if you, OK,
- 38:12when you started your business, say you're making $5000 a month
- 38:16in your business, OK or in whatever you're doing.
- 38:18And then you go to 10,000. There's a lot of people who
- 38:21upgrade their lifestyle or they upgrade their cost or their
- 38:25expenses of their business to match whatever they're making.
- 38:29Then you make $20,000 a month and then you, you know, upgrade
- 38:31your car and you upgrade your home or you potentially add more
- 38:34team members. Great.
- 38:35Then you're $30,000 a month. Then you decide that you want to
- 38:38buy some new toy or you want to go on a trip or you want to add
- 38:42more team members and then you're investing into bigger,
- 38:45more expensive things. Great.
- 38:47Now we're at 50 KA month and it goes on and on.
- 38:50And someone said to me, they're like Kate, why do I feel more
- 38:52broke at 7 figures than I did at like $200,000 a year?
- 38:59Like how is that possible? There's more money.
- 39:01And I said, yes, there's more money.
- 39:03But if you don't build it with whatever your goal is in mind,
- 39:06you may still feel depending on what's important to you, you may
- 39:10still feel broke because sometimes to have a bigger
- 39:14business, sometimes there's bigger expenses.
- 39:17So I often tell people like, say your goal is that you want to
- 39:20bring home personally a lot of money a month or you want to
- 39:23have a lot set aside, maybe even in the business for you and
- 39:26investments and things like that.
- 39:28If that's your goal, you may not actually need to have a 7 figure
- 39:32business in order to do that. And this is again, why
- 39:35understanding money is really important because some people
- 39:38believe again, back to more marketing, more sales.
- 39:41If I just sell, sell, sell and I just make more money, that will
- 39:44fix everything. And in some instances, yes more
- 39:48sales is the issue, but just having a bigger business may not
- 39:51necessarily give you the life that you want.
- 39:53I had another client who came to me and they said I really want
- 39:57to buy rental properties. And originally she told me her
- 40:00goal was 7 figures. So when we reverse engineered
- 40:02the numbers I very quickly said to her you do not need a 7
- 40:05figure business. So unless there's another reason
- 40:07you need or want a 7 figure business if your goal is to buy
- 40:11a property like a a single property or two properties for
- 40:14rentals for you and your family. You could easily do that at like
- 40:18$600,000 a year and you would be good.
- 40:20You don't need to have a 7 figure business.
- 40:23And it really helped her to see that like having more money
- 40:27wasn't going to solve anything. And also depending on how you
- 40:30operate as an entrepreneur, if you upgrade your life
- 40:33significantly as you make more money, you're also going to have
- 40:37a new standard at which you have to maintain.
- 40:40Which is why some people feel like even though they're making
- 40:43more the business, they're not feel like they're making more
- 40:45personally. And that's because they've
- 40:46upgrade their lifestyle so much that they just have a new
- 40:49standard that they have to maintain.
- 40:51So to really have millions in the business or millions
- 40:55personally and not feel broke means you really have to
- 40:58understand money management and you also have to really know
- 41:02what is actually your goal. Is the goal revenue or is the
- 41:05goal that you have a certain take home?
- 41:07Because if you're a metric of success for you is your
- 41:10lifestyle and your take home, that should be your strategy,
- 41:13not just more revenue. Because say, for example, if
- 41:16you're an agency, you don't want to have more revenue because in
- 41:21some instances it means more team.
- 41:23So if your goal is to lower expenses, those two goals
- 41:26actually potentially could collide.
- 41:28One of the other truths that I, I wouldn't say that I've learned
- 41:32this through me, but I've learned this through proxy is
- 41:35that your reputation moves a lot faster than your marketing.
- 41:39So if you are somebody who feels like you want to grow your
- 41:44business rapidly, you should be focusing on your reputation
- 41:49because I will tell you your reputation is something that is
- 41:52the hardest thing to turn. If you have a bad reputation, if
- 41:55you have a reputation that is known as a negative thing in
- 41:58this industry for whatever reason, you know, bad service,
- 42:01unethical marketing, you know, bad delivery, whatever it might
- 42:04be, that is something that is so difficult to turn.
- 42:08I will say you can build an incredible reputation and it
- 42:13does take time because obviously as more people experience you,
- 42:16they have more and more positive feedback about the experience
- 42:18with you. But the thing that I will say
- 42:21that I've seen with peers and that I've seen with people that
- 42:24I know is that your reputation can be burned to the ground in
- 42:28seconds. And so your reputation has the
- 42:32ability to move so much faster than your marketing.
- 42:36You can say whatever you want, you can post whatever you want.
- 42:39You can, you know, publicize whatever you want.
- 42:42But at the end of the day, your reputation is something that is
- 42:45really typically going to come from the people who interface
- 42:48with you. And with that, they can really
- 42:50build up your reputation pretty quickly through word of mouth.
- 42:54But if you do make the wrong moves or if you are potentially,
- 42:58you know, operating your business in a non ideal way, it
- 43:02does have the ability to also be completely dismantled in
- 43:05seconds. I saw somebody that I know, you
- 43:07know, very recently who had kind of posted some controversial
- 43:11things on the Internet and they basically like lit their brand
- 43:18on fire overnight. It also brought to the forefront
- 43:21some people who were dissatisfied with the brand and
- 43:23some of the other things that they had posted previously.
- 43:25And this kind of gave them the opportunity to bring those
- 43:27things to the forefront. A truth that you're not going to
- 43:30like, but it is important, important for you to know is
- 43:33that entrepreneurship is going to give you freedom, but not at
- 43:37first. Entrepreneurship will give you
- 43:40freedom at some point, but at first it is going to give you
- 43:43responsibility because so many, and I get it, we want the laptop
- 43:49lifestyle, we want to sun the beach.
- 43:50We want apparel spritzes. We want to, you know, be able to
- 43:52just sit there or maybe the apparel spritz is just for me.
- 43:55But we sit there and we want this like drink on a beach and
- 43:58we want to be able to work and have these notifications coming
- 44:00in and all of these things. And listen, that is possible for
- 44:03you. So I don't want you to think by
- 44:04any means that that is not possible.
- 44:06I literally have clients who are traveling all over and making
- 44:10boatloads of revenue in their business.
- 44:11It is 1000% possible. Here's the thing, it's not going
- 44:15to happen at the beginning. It's going to take years for
- 44:18that to be possible for you. So when you are watching other
- 44:22people with their laptop lifestyle online and you're
- 44:24like, why do I feel like I don't feel very free right now?
- 44:28When you're building, you're not going to experience a lot of
- 44:30freedom because you have to build that freedom.
- 44:33You have to build the marketing, the sales, the offers to create
- 44:37that freedom. So you can have a lot of
- 44:40financial time, location freedom in your business, but you may
- 44:44not necessarily have it all at the beginning because
- 44:47truthfully, entrepreneurship is going to 1st give you
- 44:51responsibility and then it's going to eventually give you
- 44:54freedom. It really only is going to
- 44:57become freedom though. If you have the discipline that
- 45:00you need to earn that freedom. It doesn't get handed to you
- 45:04because you have you're have a business or you are an
- 45:06entrepreneur. Doesn't mean you get to just
- 45:08have these notifications coming in and money coming in.
- 45:10And I don't have to be on all the time.
- 45:13You have to create the systems and the marketing and the sales
- 45:16and the brand and the pieces necessary to have that reality.
- 45:20And when you're building that, it does take time and you kind
- 45:23of have to earn that freedom that you're looking for.
- 45:26This is one that I, I know I was kind of mentioning the idea
- 45:28earlier of like I'm, I'm not always, you know, of the belief
- 45:31that it's always who's the smartest.
- 45:33I really believe that obsession and drive and determination and
- 45:39consistency are really going to be talent every single time,
- 45:44every single time. I do not believe that it's like
- 45:48you're the person who's most talented, so therefore you're
- 45:50the most successful. There are people that I know who
- 45:53are just so ridiculously consistent.
- 45:58There's no way that anyone will beat them at the level of hard
- 46:00work that they do and how consistently they do that work.
- 46:04So if you are somebody that really wants to grow within your
- 46:07business, you also want to recognize that it's not always
- 46:10just about how do I get the best at this.
- 46:13It could also be the question of how do I get more consistent at
- 46:16this or how do I get more obsessed with this and mastering
- 46:20it? How do I make sure that I'm
- 46:22putting in the reps as fast as I can at this thing to overtime
- 46:27develop that mastery? But it may not be there at the
- 46:29beginning. And I think consistency and hard
- 46:32work are often undervalued. I think a lot of people believe
- 46:36that if they're not good at something initially or if it's
- 46:38not a natural talent of theirs or whatever it might be, that
- 46:41that's not something they can excel in.
- 46:43I know a lot of people who are very mediocre at certain things
- 46:46or maybe had no skills in certain areas and somehow have
- 46:50dominated their industry. And that is not because they
- 46:53even technically became the best at what they do out the gate.
- 46:56They didn't have the talent there, but they became obsessed
- 46:59with overtime looking to sharpen that skill again and again and
- 47:04again. Now the last one is if you
- 47:06cannot sell it, you do not have a business, you have a hobby.
- 47:09And I, I know this is going to land because I hear all the time
- 47:13people say, Kate, I hate to sell.
- 47:14I hate selling. And I don't personally resonate
- 47:18with that because I love selling.
- 47:19But I need you to understand that selling is the difference
- 47:23of whether what you do is a hobby or in some buckets it's
- 47:28charity or if it is a business that generates revenue.
- 47:32And it's also not to say that having as a hobby is bad.
- 47:35If you want to have a hobby, do it.
- 47:37Like if you want to be a content creator or you want to be an
- 47:39editor as a hobby for somebody, go ahead.
- 47:42If you want to, you know, have a charity where you give back and
- 47:45you do social media for brands of a specific type, OK, great.
- 47:51Do that. Like I love that for you.
- 47:52Go do that. But that's not a business.
- 47:55That is not the same as the business that you are making
- 47:58right now. And the thing that I will say is
- 48:02like something I'm passionate about with sales is that sales
- 48:07is service. And the only reason that people
- 48:10get weird about selling or they don't like to sell.
- 48:12I don't want to annoy my audience or I don't want to feel
- 48:14like, you know, people feel like I'm selling to them.
- 48:15I'm like, you should feel like you're selling to people because
- 48:18you are selling to people. Like, let's not have the the
- 48:21cognitive dissonance here to believe that we're not selling
- 48:24to people. In fact, we are.
- 48:25We are selling people. But here's the difference.
- 48:27I'm not selling to you because I'm like, give me your money.
- 48:31I'm not selling to anybody who doesn't have the problem.
- 48:33So for example, if you see people, that's how I want you to
- 48:37think about it. You see, you see people outside
- 48:38and they're all standing in the rain and they're getting soaked.
- 48:42Do you feel bad for selling them an umbrella?
- 48:45No, because they're getting torrential downpour on them in
- 48:49the rain. So why with your offer or why
- 48:52with your service, are you feeling bad about selling
- 48:56somebody the quote UN quote umbrella Who has been standing
- 49:01in the rain sometimes for days, weeks, months or years and the
- 49:05rain being their problem? That's why for me, I don't
- 49:09understand. I understand the disconnect.
- 49:11I understand people's programming and the past
- 49:13experiences. There's a lot of things that go
- 49:15into people's negative feelings around sales.
- 49:17So I understand where it comes from, but I don't understand
- 49:21why, if what you do is so impactful and it literally helps
- 49:26people and it changes their life and has the ability to change
- 49:29their business, change their health, change their mental
- 49:31health, change their systems, whatever it might be, whatever
- 49:35area you're in. If what you do has the ability
- 49:39to completely change somebody else's reality.
- 49:42If you have the ability to take someone who is getting rained on
- 49:46and give them an umbrella to finally give them a dry, safe,
- 49:50calm space to stand, why would you not do that?
- 49:55And the thing that I think, and this is my motto in sales is
- 49:58like how selfish of me to have 15 umbrellas and see 15 people
- 50:04in the rain and never offer any of them an umbrella.
- 50:08Now here's why I go back to hobby and charity.
- 50:11If you are somebody who has 15 umbrellas and you just want to
- 50:15give them away, then give them away.
- 50:18Perfect. You can have a charity, you can
- 50:21have a hobby, you can have something where you just do this
- 50:24out of the goodness of your heart and you don't want any
- 50:26money from it. That's OK.
- 50:28But if you want to sell the umbrella, if you want to have an
- 50:31umbrella company, to our analogy, if you want to have an
- 50:34umbrella company, sell them the umbrella.
- 50:37I was thinking about this recently.
- 50:39You know, I went to a concert, I went to go see the Goo Dolls and
- 50:42when I was leaving the concert, we stopped.
- 50:45I was with my, my sister-in-law and Kelsey, one of the
- 50:48incredible women on our team and we are coming out of it and we
- 50:52stopped and there was a, a hot dog cart.
- 50:55I'm like, take my money. Like I want a hot dog, take my
- 50:59money. Like when you're there and you
- 51:01pay for that, it's at the end of the night and you haven't eaten
- 51:04and you're starving and it's there.
- 51:05It was also we had lawn seats. So you sit on the lawn and I
- 51:09thought, wow, we look over and there's people who have chairs
- 51:12and I was like, wow, I'm 33. I would love a chair.
- 51:14So I thought, wow, that's great. I went and I looked for the
- 51:18chair because I thought I had the problem of not wanting to
- 51:21sit on the ground. I would love to have a chair.
- 51:22So we went and we go pick up these three chairs and I give
- 51:26them money for the chair. I'm not like, how could you take
- 51:28my money for this chair? I'm like, I want the problem
- 51:30solved of not sitting on the ground.
- 51:31How could you take my money for that hot dog?
- 51:33I'm not going to be like, why is he selling these to me right
- 51:35now? Because I'm starving and he
- 51:38knows it. The thing that is important to
- 51:41remember is that you are in the business of selling, but you
- 51:45want to remember you're not in the business of selling people
- 51:47who don't have the problem you solve.
- 51:49So yes, you could feel weird about selling to people who
- 51:52don't have or need what it is that you're selling.
- 51:55So for me, I always root into, I am not a charity.
- 52:00At least I don't have one at this moment to be determined
- 52:02maybe in the future, but I don't have a charity at this moment.
- 52:06And I don't want to look at this as a hobby.
- 52:08I'm here to serve people, but I'm also only going to sell to
- 52:11people who I know for a fact have the problem that it is that
- 52:14I'm looking or that I can help people to solve.
- 52:18So I had a list of like two more lists of these hard truths
- 52:23because there's a lot of them. Let me know how you feel about
- 52:25this. Maybe we'll do a Part 2.
- 52:26If you want to slide into my DMS and just be like, hey, Kate, I
- 52:29would love a love a Part 2 of the hard truths.
- 52:31We have a lot more that we did not cover.
- 52:33And so if it's the style of episode that you feel like was
- 52:35helpful for you as kind of a list format, some motto, some
- 52:38hard truths that you want to kind of start to integrate and
- 52:40think about, I would love to hear from you.
- 52:42If you want to shoot me a message on Instagram, just let
- 52:45me know that you would love a Part 2.
- 52:46We will get that on the schedule for you.
- 52:47But I hope today was helpful. Maybe there's a couple that you
- 52:50saw yourself within. Maybe there's a couple even
- 52:52examples or stories we talked about today that will help you
- 52:55to say, OK, I really realized that I need to work on that.
- 52:58Or that's a principle that I want to execute or it's a
- 53:01practice that I want to get into myself.
- 53:03And as always, like I, I love, like genuinely love when you
- 53:06guys reach out and you say, hey, here was my take away from this
- 53:09week's episode. You know, something that landed
- 53:11for you, something you want to integrate or maybe even just
- 53:14maybe there's a line or a motto or a hard truth that you are
- 53:18really excited to start to integrate deeper within your
- 53:21business. Whatever it is, we know that
- 53:23when you share in transformation and you're witnessed in it, it
- 53:27really does land at such a deep level.
- 53:29And so this is your invitation to be witnessed in something
- 53:32that landed and kind of transformed a small part of you
- 53:34today. So with all that being said, I
- 53:36will see you on the next episode.
- 53:38And, as always, stay ambitious.