1 00:00:02,060 --> 00:00:05,540 (Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show. 2 00:00:06,040 --> 00:00:08,460 Each week, we talk about the growth strategies 3 00:00:08,460 --> 00:00:10,260 that matter most to entrepreneurs. 4 00:00:11,000 --> 00:00:13,600 Listen in as we discuss the secrets to 5 00:00:13,600 --> 00:00:16,400 getting credit and money to start and grow 6 00:00:16,400 --> 00:00:17,240 your business. 7 00:00:17,460 --> 00:00:19,820 And enjoy as we talk with seasoned business 8 00:00:19,820 --> 00:00:22,680 owners, coaches, and industry leaders on a variety 9 00:00:22,680 --> 00:00:25,720 of topics from advertising and marketing to the 10 00:00:25,720 --> 00:00:28,140 nuts and bolts of running a highly successful 11 00:00:28,140 --> 00:00:28,720 business. 12 00:00:29,020 --> 00:00:31,340 And now, to introduce the host of our 13 00:00:31,340 --> 00:00:35,300 show, financial expert and award-winning author, Ty 14 00:00:35,300 --> 00:00:36,020 Crandall. 15 00:00:36,900 --> 00:00:38,040 Hello, and thanks for joining us today. 16 00:00:38,120 --> 00:00:39,040 I'm super excited you could be here. 17 00:00:39,120 --> 00:00:40,960 Look, today we're gonna help you attract premium 18 00:00:40,960 --> 00:00:41,380 clients. 19 00:00:41,460 --> 00:00:43,460 We're gonna help you actually scale your expertise 20 00:00:43,460 --> 00:00:45,140 and then do so, getting like the best 21 00:00:45,140 --> 00:00:47,300 paying clients that you can actually get for 22 00:00:47,300 --> 00:00:47,740 your business. 23 00:00:47,920 --> 00:00:48,660 And to be able to help to make 24 00:00:48,660 --> 00:00:51,280 this happen, we have the foremost expert, Amanda 25 00:00:51,280 --> 00:00:51,880 Watts, with us. 26 00:00:52,140 --> 00:00:54,980 She actually helps advise service professionals to stop 27 00:00:54,980 --> 00:00:58,160 doing the work and start actually advising around 28 00:00:58,160 --> 00:00:58,340 it. 29 00:00:58,380 --> 00:01:00,880 So through her company, the Business Advisor Academy, 30 00:01:00,880 --> 00:01:03,840 she helps advisors, she helps consultants, accountants, and 31 00:01:03,840 --> 00:01:06,560 CFOs actually escape the time for money trap 32 00:01:06,560 --> 00:01:09,500 and build lean, profitable, and scalable business. 33 00:01:09,700 --> 00:01:12,860 Now, her actual approach turns expertise into structured, 34 00:01:12,960 --> 00:01:15,580 high-value offers that attract premium clients, meaning 35 00:01:15,580 --> 00:01:17,020 like the ones that pay you the most 36 00:01:17,020 --> 00:01:17,580 money, right? 37 00:01:17,860 --> 00:01:20,240 Command premium prices and also create the freedom 38 00:01:20,240 --> 00:01:22,780 to focus on strategy and growth as well. 39 00:01:23,000 --> 00:01:25,320 So with her Scalable Six Framework, which we're 40 00:01:25,320 --> 00:01:27,540 gonna dive into here shortly, she actually teaches 41 00:01:27,540 --> 00:01:29,720 clients to design businesses that build for freedom, 42 00:01:29,940 --> 00:01:31,080 not just revenue. 43 00:01:31,240 --> 00:01:32,840 She's got a few different models that are 44 00:01:32,840 --> 00:01:34,580 awesome that we're gonna be going over today 45 00:01:34,580 --> 00:01:37,040 and actually help 10 hours per week of 46 00:01:37,040 --> 00:01:38,760 client delivery and make a ton of money 47 00:01:38,760 --> 00:01:40,900 in the process, prove that success comes from 48 00:01:40,900 --> 00:01:42,000 systems, not stress. 49 00:01:42,340 --> 00:01:44,820 So every element from positioning and pricing to 50 00:01:44,820 --> 00:01:48,260 promotion works together like a finely tuned engine 51 00:01:48,260 --> 00:01:49,900 to maximize profit and independence. 52 00:01:50,260 --> 00:01:52,440 Amanda's also the host of the Business Advisor 53 00:01:52,440 --> 00:01:52,900 Podcast. 54 00:01:53,040 --> 00:01:54,440 You've gotta check this out, it's phenomenal. 55 00:01:54,760 --> 00:01:56,440 And the author of the forthcoming book, Built 56 00:01:56,440 --> 00:01:59,520 for Freedom, where she shares stories and strategies 57 00:01:59,520 --> 00:02:02,540 from entrepreneurs who actually design businesses that serve 58 00:02:02,540 --> 00:02:04,980 their lives and not the other way around. 59 00:02:05,080 --> 00:02:05,840 Amanda, what's up? 60 00:02:05,920 --> 00:02:06,780 Thanks for joining us today. 61 00:02:07,180 --> 00:02:08,100 Thank you so much. 62 00:02:08,180 --> 00:02:10,240 What an amazing introduction. 63 00:02:10,580 --> 00:02:12,620 My gosh, never heard it said quite as 64 00:02:12,620 --> 00:02:13,200 quickly either. 65 00:02:13,300 --> 00:02:14,420 So it's great to be here. 66 00:02:14,540 --> 00:02:16,220 I think we're gonna cover a lot, very 67 00:02:16,220 --> 00:02:16,680 excited. 68 00:02:16,820 --> 00:02:18,340 I say everything quick, and then I was 69 00:02:18,340 --> 00:02:20,060 looking at part of this and then it 70 00:02:20,060 --> 00:02:22,480 gave like the money in like pounds or 71 00:02:22,480 --> 00:02:24,160 like whatever your currency is over the years. 72 00:02:24,260 --> 00:02:25,480 I just completely got tripped up. 73 00:02:25,480 --> 00:02:27,000 I just like skipped that whole part because 74 00:02:27,000 --> 00:02:27,800 I was like, I don't know how to 75 00:02:27,800 --> 00:02:29,100 do the conversion in my head right now. 76 00:02:29,440 --> 00:02:30,800 Don't you worry, don't you worry. 77 00:02:30,880 --> 00:02:32,660 Just always just change pounds to dollars. 78 00:02:32,780 --> 00:02:34,180 It's simple, it's simple, so. 79 00:02:34,740 --> 00:02:36,020 Well, I don't know if the dollar's up 80 00:02:36,020 --> 00:02:36,720 right now or not. 81 00:02:36,800 --> 00:02:37,960 So I didn't want to get into that, 82 00:02:38,020 --> 00:02:39,420 but it's good to see because you're over 83 00:02:39,420 --> 00:02:40,500 there in London right now. 84 00:02:40,680 --> 00:02:42,800 I am, and it's really freaking cold. 85 00:02:42,900 --> 00:02:44,920 It's like minus degrees at the moment. 86 00:02:45,060 --> 00:02:46,480 We woke up this morning and was like, 87 00:02:46,500 --> 00:02:47,860 let's all just go back to bed. 88 00:02:48,120 --> 00:02:49,900 But no, we didn't, we went to work 89 00:02:49,900 --> 00:02:50,200 instead. 90 00:02:50,720 --> 00:02:52,400 I live in Tampa, Florida. 91 00:02:52,580 --> 00:02:54,800 So I don't talk to anybody around here 92 00:02:54,800 --> 00:02:57,020 when it's cold elsewhere about our weather because 93 00:02:57,020 --> 00:02:58,400 then they kind of get upset with me 94 00:02:58,400 --> 00:02:59,880 and frustrated when they know how nice it 95 00:02:59,880 --> 00:03:00,260 is down here. 96 00:03:00,360 --> 00:03:02,160 But I hope that it warms up over 97 00:03:02,160 --> 00:03:02,760 there for you. 98 00:03:03,040 --> 00:03:03,500 I don't mind. 99 00:03:03,680 --> 00:03:04,360 I like the cold. 100 00:03:04,640 --> 00:03:05,540 It's not a bad thing. 101 00:03:05,640 --> 00:03:07,100 It's not a bad thing, but thank you. 102 00:03:07,220 --> 00:03:08,300 So you built for freedom. 103 00:03:08,600 --> 00:03:10,920 You have, tell me some of the background 104 00:03:10,920 --> 00:03:12,200 behind this whole strategy. 105 00:03:12,480 --> 00:03:15,300 Yeah, so the background is I did not 106 00:03:15,300 --> 00:03:16,020 build for freedom. 107 00:03:16,460 --> 00:03:18,240 I built what I call a monster business. 108 00:03:18,500 --> 00:03:22,540 So for many years, I built what the 109 00:03:22,540 --> 00:03:25,180 gurus told me to build, which was build 110 00:03:25,180 --> 00:03:27,600 something big, multi-million pounds, have loads of 111 00:03:27,600 --> 00:03:29,920 team, have loads of revenue, have very little 112 00:03:29,920 --> 00:03:30,420 profits. 113 00:03:30,520 --> 00:03:31,720 They failed to tell me that bit. 114 00:03:31,840 --> 00:03:33,320 So I was overworked. 115 00:03:33,480 --> 00:03:34,540 I was underpaid. 116 00:03:34,940 --> 00:03:37,960 I built a big agency and on the 117 00:03:37,960 --> 00:03:40,440 outside, everyone was like, Amanda, you've done amazingly. 118 00:03:40,700 --> 00:03:43,420 I looked like really successful, but on the 119 00:03:43,420 --> 00:03:44,520 inside, I was dying. 120 00:03:44,620 --> 00:03:45,380 I was burning out. 121 00:03:45,480 --> 00:03:46,160 I was exhausted. 122 00:03:46,540 --> 00:03:48,140 I didn't have freedom. 123 00:03:48,380 --> 00:03:49,820 I was working seven days a week. 124 00:03:50,060 --> 00:03:52,340 I had a huge bloated team and my 125 00:03:52,340 --> 00:03:54,560 team, oh my gosh, I don't know if 126 00:03:54,560 --> 00:03:55,400 you have the same problem. 127 00:03:55,560 --> 00:03:56,940 I don't have this problem anymore because I 128 00:03:56,940 --> 00:03:59,340 don't have a big team, but team is 129 00:03:59,340 --> 00:04:00,400 really hard work. 130 00:04:00,540 --> 00:04:01,680 They have boyfriend troubles. 131 00:04:01,860 --> 00:04:03,240 They have husband troubles. 132 00:04:03,400 --> 00:04:04,640 They have life troubles. 133 00:04:04,760 --> 00:04:05,760 They have parent troubles. 134 00:04:05,900 --> 00:04:06,700 They have kid troubles. 135 00:04:06,820 --> 00:04:08,780 They have all these troubles that have nothing 136 00:04:08,780 --> 00:04:10,780 to do with business, but leak into the 137 00:04:10,780 --> 00:04:11,120 business. 138 00:04:11,220 --> 00:04:12,880 And what I realized was that I was 139 00:04:12,880 --> 00:04:16,200 becoming a babysitter instead of actually running a 140 00:04:16,200 --> 00:04:16,500 business. 141 00:04:16,500 --> 00:04:17,660 And I couldn't cope. 142 00:04:17,800 --> 00:04:19,940 I know that some people are born to 143 00:04:19,940 --> 00:04:22,220 have a huge team, but I wasn't born 144 00:04:22,220 --> 00:04:23,320 to have a huge team. 145 00:04:23,680 --> 00:04:25,860 And I felt that I was losing my 146 00:04:25,860 --> 00:04:26,200 freedom. 147 00:04:26,520 --> 00:04:28,920 I felt what I created to give me 148 00:04:28,920 --> 00:04:30,740 a life wasn't giving me a life and 149 00:04:30,740 --> 00:04:31,920 stealing everything from me. 150 00:04:32,120 --> 00:04:33,280 So I decided, do you know what? 151 00:04:33,400 --> 00:04:34,700 I'm going to burn it all down and 152 00:04:34,700 --> 00:04:35,220 start again. 153 00:04:35,320 --> 00:04:36,140 I was laying in bed. 154 00:04:36,420 --> 00:04:37,400 I was burnt out. 155 00:04:37,500 --> 00:04:38,380 I screamed to my husband. 156 00:04:38,380 --> 00:04:39,980 I was like, I can't do this anymore. 157 00:04:40,100 --> 00:04:40,920 I can't get out of bed. 158 00:04:40,960 --> 00:04:42,020 I can't go to work today. 159 00:04:42,180 --> 00:04:43,700 And we just decided to shut the business 160 00:04:43,700 --> 00:04:43,980 down. 161 00:04:44,220 --> 00:04:45,280 We shut it down and I said, I'm 162 00:04:45,280 --> 00:04:46,000 building differently. 163 00:04:46,320 --> 00:04:48,560 Now I'm very fortunate that because I'd already 164 00:04:48,560 --> 00:04:50,580 built a business, I knew how to build 165 00:04:50,580 --> 00:04:51,300 a business, right? 166 00:04:51,600 --> 00:04:53,380 So that's something that when you, even if 167 00:04:53,380 --> 00:04:55,340 you make mistakes, you learn from those mistakes. 168 00:04:55,520 --> 00:04:57,580 So the second time I decided to crank 169 00:04:57,580 --> 00:05:00,360 up and really go, who do I want 170 00:05:00,360 --> 00:05:00,740 to help? 171 00:05:01,020 --> 00:05:01,820 What do I help them? 172 00:05:01,980 --> 00:05:03,100 What do I want to help them with? 173 00:05:03,300 --> 00:05:05,100 How do I get out of doing the 174 00:05:05,100 --> 00:05:05,420 work? 175 00:05:05,440 --> 00:05:06,980 Because that's what you need a huge team 176 00:05:06,980 --> 00:05:07,280 for. 177 00:05:07,460 --> 00:05:09,540 And then how do I educate them and 178 00:05:09,540 --> 00:05:12,040 empower them to have success on their own 179 00:05:12,040 --> 00:05:14,420 with my guidance so that I can free 180 00:05:14,420 --> 00:05:16,060 up my time and make a bigger impact 181 00:05:16,060 --> 00:05:18,240 without having to have a huge team to 182 00:05:18,240 --> 00:05:18,520 do it. 183 00:05:18,520 --> 00:05:20,540 And that's when I created the Built for 184 00:05:20,540 --> 00:05:21,480 Freedom methodology. 185 00:05:21,960 --> 00:05:24,920 And it all came down to systemizing, productizing 186 00:05:24,920 --> 00:05:28,140 and scaling through getting my knowledge out into 187 00:05:28,140 --> 00:05:28,500 the world. 188 00:05:28,660 --> 00:05:29,980 And that's what I help others do now 189 00:05:29,980 --> 00:05:30,320 as well. 190 00:05:30,480 --> 00:05:32,780 And it's been very fun and exciting. 191 00:05:33,140 --> 00:05:33,980 I love everything you said. 192 00:05:34,100 --> 00:05:35,580 And I can relate to that because I 193 00:05:35,580 --> 00:05:36,780 think as an entrepreneur, you want to build 194 00:05:36,780 --> 00:05:38,240 a really successful big business. 195 00:05:38,540 --> 00:05:40,160 And then, and maybe it's for some people, 196 00:05:40,240 --> 00:05:41,440 but when you get there, it kind of 197 00:05:41,440 --> 00:05:41,740 sucks. 198 00:05:41,820 --> 00:05:42,920 I'm like, this is ridiculous. 199 00:05:43,140 --> 00:05:44,680 It's a lot of work, it's exhausting. 200 00:05:44,840 --> 00:05:46,640 And a lot of people, not just myself, 201 00:05:46,640 --> 00:05:49,160 and you included, want to get back to 202 00:05:49,160 --> 00:05:51,180 this world where you have high profit margins 203 00:05:51,180 --> 00:05:54,280 and way smaller manageable business with way less 204 00:05:54,280 --> 00:05:56,060 customers and way less employees. 205 00:05:56,240 --> 00:05:57,500 Like once you get there, you're like, please 206 00:05:57,500 --> 00:05:58,320 take me back. 207 00:05:59,460 --> 00:06:00,000 It's astonishing. 208 00:06:00,200 --> 00:06:00,920 So what do you do? 209 00:06:00,940 --> 00:06:02,500 Because the other part that you touched upon 210 00:06:02,500 --> 00:06:04,060 that I love, one of my business, my 211 00:06:04,060 --> 00:06:05,800 buddies had like a $20 million business and 212 00:06:05,800 --> 00:06:07,480 he just shut that down and moved on. 213 00:06:07,660 --> 00:06:08,580 And one of the things he said, he 214 00:06:08,580 --> 00:06:10,480 said, it's really hard to be on the 215 00:06:10,480 --> 00:06:12,700 servicing and sales side both, right? 216 00:06:12,980 --> 00:06:14,460 And I was like, there's a lot of 217 00:06:14,460 --> 00:06:15,020 truth to that. 218 00:06:15,020 --> 00:06:16,800 When you're trying to cover both of those 219 00:06:16,800 --> 00:06:19,040 areas, it's what requires the big team. 220 00:06:19,120 --> 00:06:20,140 It's requires the stress. 221 00:06:20,600 --> 00:06:22,460 So now that you made that realization, like 222 00:06:22,460 --> 00:06:23,860 what did you do to be able to 223 00:06:23,860 --> 00:06:24,440 solve the problem? 224 00:06:24,820 --> 00:06:29,040 Yeah, so the biggest thing is what is 225 00:06:29,040 --> 00:06:31,220 your product that you're going to sell and 226 00:06:31,220 --> 00:06:33,100 how can you sell it in a scalable 227 00:06:33,100 --> 00:06:33,480 way? 228 00:06:33,640 --> 00:06:35,160 How can you deliver it in a scalable 229 00:06:35,160 --> 00:06:35,600 way? 230 00:06:35,700 --> 00:06:38,360 And then how can you run the business 231 00:06:38,360 --> 00:06:41,060 in a scalable way without having to hire 232 00:06:41,060 --> 00:06:41,760 loads of people? 233 00:06:41,760 --> 00:06:44,720 So what I did was go, I'm not 234 00:06:44,720 --> 00:06:47,460 building a business for sale. 235 00:06:47,920 --> 00:06:50,400 So I think it's something like 20% 236 00:06:50,400 --> 00:06:53,040 of businesses that go to market for sale 237 00:06:53,040 --> 00:06:54,840 actually become sold. 238 00:06:55,000 --> 00:06:56,060 So I was like, I'm not going to 239 00:06:56,060 --> 00:06:56,840 buy into that dream. 240 00:06:56,900 --> 00:06:58,620 I'm going to create something that gives me 241 00:06:58,620 --> 00:07:00,980 wealth now, which means I need to have 242 00:07:00,980 --> 00:07:03,080 massive profits, which means I can't afford a 243 00:07:03,080 --> 00:07:04,680 big team, which means I need to be 244 00:07:04,680 --> 00:07:08,620 clever and systemize and productize everything so that 245 00:07:08,620 --> 00:07:12,480 it's either automated, delegated to a consultant who 246 00:07:12,480 --> 00:07:14,920 can do it or just cut. 247 00:07:15,080 --> 00:07:17,020 There is so much in business we don't 248 00:07:17,020 --> 00:07:17,640 need to do. 249 00:07:17,900 --> 00:07:19,860 There's so many things that we do because 250 00:07:19,860 --> 00:07:22,220 we think we should do, but actually we 251 00:07:22,220 --> 00:07:23,140 don't need to be doing. 252 00:07:23,300 --> 00:07:25,260 We don't need to run reports every five 253 00:07:25,260 --> 00:07:25,500 minutes. 254 00:07:25,640 --> 00:07:27,860 We don't need to be posting on social 255 00:07:27,860 --> 00:07:30,300 media in a way that isn't scalable every 256 00:07:30,300 --> 00:07:30,920 five minutes. 257 00:07:30,980 --> 00:07:32,460 There's so much that we don't need to 258 00:07:32,460 --> 00:07:34,100 do that we've been told that we should 259 00:07:34,100 --> 00:07:35,340 be doing to be a busy for. 260 00:07:35,780 --> 00:07:37,960 So I actually only deliver. 261 00:07:37,960 --> 00:07:40,220 So I do delivery, I do sales, I 262 00:07:40,220 --> 00:07:41,460 do marketing all myself. 263 00:07:41,800 --> 00:07:44,020 So even though you say it's really hard, 264 00:07:44,100 --> 00:07:45,140 I do all of that myself. 265 00:07:45,460 --> 00:07:48,880 I only deliver to clients six hours a 266 00:07:48,880 --> 00:07:51,060 week for three weeks out of four. 267 00:07:51,420 --> 00:07:51,940 That's it. 268 00:07:52,060 --> 00:07:54,440 So my client delivery is about 18 hours 269 00:07:54,440 --> 00:07:55,680 every single month. 270 00:07:55,860 --> 00:07:56,520 That's it. 271 00:07:56,700 --> 00:07:58,520 That then gives me 10 hours a week 272 00:07:58,520 --> 00:08:01,240 to do marketing and the marketing attracts those 273 00:08:01,240 --> 00:08:02,300 high value clients. 274 00:08:02,500 --> 00:08:05,400 So marketing actually is my biggest lever for 275 00:08:05,400 --> 00:08:07,680 enabling me to grow this freedom business. 276 00:08:08,120 --> 00:08:09,960 So I do 10 hours a week of 277 00:08:09,960 --> 00:08:10,380 marketing. 278 00:08:10,800 --> 00:08:11,840 That could be webinars. 279 00:08:11,960 --> 00:08:13,240 That could be podcasts like this. 280 00:08:13,440 --> 00:08:15,260 I'm recording my own podcast. 281 00:08:15,560 --> 00:08:17,280 It could be interviews I do with people. 282 00:08:17,360 --> 00:08:18,560 It could be standing on stages. 283 00:08:19,020 --> 00:08:21,540 I'm not a big person to go out. 284 00:08:21,660 --> 00:08:22,540 I'm quite an introvert. 285 00:08:22,680 --> 00:08:24,560 I like my house and I'm quite a 286 00:08:24,560 --> 00:08:25,160 homely person. 287 00:08:25,320 --> 00:08:26,880 So a lot of my marketing is done 288 00:08:26,880 --> 00:08:28,840 this side of the screen, but I can 289 00:08:28,840 --> 00:08:32,380 do marketing and delivery and sales in about 290 00:08:32,380 --> 00:08:33,760 20 hours a week. 291 00:08:33,760 --> 00:08:36,400 I don't work Fridays and the first full 292 00:08:36,400 --> 00:08:38,919 week of every single month I have off. 293 00:08:39,299 --> 00:08:41,340 So it means that I know on beginning 294 00:08:41,340 --> 00:08:43,360 of August next year, I can have a 295 00:08:43,360 --> 00:08:43,600 holiday. 296 00:08:43,780 --> 00:08:45,200 Beginning of September, I can have a holiday. 297 00:08:45,400 --> 00:08:47,200 Beginning of October, I can have a holiday. 298 00:08:47,300 --> 00:08:49,660 I get 12 weeks holiday a year if 299 00:08:49,660 --> 00:08:50,860 I want to, or I can just sit 300 00:08:50,860 --> 00:08:52,100 in bed because it's cold. 301 00:08:52,480 --> 00:08:54,540 I mean, that is really brilliant strategy. 302 00:08:54,720 --> 00:08:56,940 And it's interesting, it's like 900 something episodes 303 00:08:56,940 --> 00:08:58,680 and I never even, it's such a simple 304 00:08:58,680 --> 00:08:59,740 concept, but I've never heard it. 305 00:08:59,840 --> 00:09:02,380 And I never even thought about just building 306 00:09:02,380 --> 00:09:05,640 for wealth now versus actually building to exit 307 00:09:05,640 --> 00:09:07,040 because everybody builds to exit. 308 00:09:07,380 --> 00:09:08,980 And you talked about that, like only a 309 00:09:08,980 --> 00:09:11,440 certain percentage of the 20, but you didn't 310 00:09:11,440 --> 00:09:12,780 even talk about all the people that want 311 00:09:12,780 --> 00:09:14,360 to sell and never end up, like the 312 00:09:14,360 --> 00:09:16,700 percentage is overwhelming of people that think they'll 313 00:09:16,700 --> 00:09:18,600 sell their businesses and never end up selling 314 00:09:18,600 --> 00:09:19,200 those businesses. 315 00:09:19,720 --> 00:09:19,820 Exactly. 316 00:09:20,200 --> 00:09:21,940 And the great thing is, is because I'm 317 00:09:21,940 --> 00:09:23,580 doing what I love and the people that 318 00:09:23,580 --> 00:09:25,400 I work with are doing what they love, 319 00:09:25,540 --> 00:09:27,980 they don't want to retire at 60 or 320 00:09:27,980 --> 00:09:29,320 70 or 80. 321 00:09:29,700 --> 00:09:31,920 They actually like doing consulting. 322 00:09:31,920 --> 00:09:34,320 Like I can't imagine you Ty ever saying, 323 00:09:34,520 --> 00:09:35,860 oh, I don't want to talk about business. 324 00:09:35,960 --> 00:09:37,860 The moment I turn 60, I'm stopping talking 325 00:09:37,860 --> 00:09:38,420 about business. 326 00:09:38,520 --> 00:09:39,600 I'm going to sell my business and never 327 00:09:39,600 --> 00:09:39,760 do it. 328 00:09:39,920 --> 00:09:42,720 No, when we are business owners, we often 329 00:09:42,720 --> 00:09:45,360 have a passion around doing something like this. 330 00:09:45,440 --> 00:09:48,260 So why don't we build something that enables 331 00:09:48,260 --> 00:09:50,660 us to take the money out, to buy 332 00:09:50,660 --> 00:09:53,180 our houses, put into our pension, live a 333 00:09:53,180 --> 00:09:55,220 great life now while we have the energy. 334 00:09:55,400 --> 00:09:57,400 And then when we're 60 or 70, if 335 00:09:57,400 --> 00:09:59,220 we want to keep on working, it's really 336 00:09:59,220 --> 00:10:01,020 easy because we're only working six hours a 337 00:10:01,020 --> 00:10:01,660 week, right? 338 00:10:01,880 --> 00:10:02,920 We've built our reputation. 339 00:10:03,160 --> 00:10:04,720 When we're at that age, we get everything 340 00:10:04,720 --> 00:10:05,820 through referrals. 341 00:10:06,020 --> 00:10:07,520 Right now, we've got time to do the 342 00:10:07,520 --> 00:10:07,820 marketing. 343 00:10:08,540 --> 00:10:09,600 So it is amazing. 344 00:10:10,040 --> 00:10:11,480 It means you pay off your house before 345 00:10:11,480 --> 00:10:12,120 you've retired. 346 00:10:12,380 --> 00:10:14,060 It means that you're not relying on your 347 00:10:14,060 --> 00:10:16,700 pension because you've taken money out and you've 348 00:10:16,700 --> 00:10:18,320 got the pension, but you've also lived the 349 00:10:18,320 --> 00:10:18,620 life. 350 00:10:18,880 --> 00:10:20,920 You don't wait till you're 65 or 70 351 00:10:20,920 --> 00:10:21,700 to go on a cruise. 352 00:10:21,740 --> 00:10:23,220 You go on a cruise now because you've 353 00:10:23,220 --> 00:10:24,420 got time to go on a cruise because 354 00:10:24,420 --> 00:10:26,000 you're building a freedom business. 355 00:10:26,420 --> 00:10:28,420 Freedom comes now, not in the future. 356 00:10:28,420 --> 00:10:30,040 Every single day you have freedom. 357 00:10:30,400 --> 00:10:31,500 I love everything about what you're saying. 358 00:10:31,600 --> 00:10:32,900 We're going to choose the right product. 359 00:10:33,120 --> 00:10:35,340 We're going to come in and minimize staff. 360 00:10:35,660 --> 00:10:38,200 So focus on the sales, the marketing, the 361 00:10:38,200 --> 00:10:40,400 stuff that actually makes the money, and then 362 00:10:40,400 --> 00:10:42,500 focus a smaller percentage of time on the 363 00:10:42,500 --> 00:10:43,400 actual execution. 364 00:10:43,680 --> 00:10:46,560 So, and really a high profitable business, which 365 00:10:46,560 --> 00:10:47,740 means minimal expenses. 366 00:10:47,980 --> 00:10:48,840 It all makes perfect sense. 367 00:10:48,900 --> 00:10:51,300 Now, how does this Scalable Six framework fit 368 00:10:51,300 --> 00:10:52,940 into figuring this whole thing out? 369 00:10:53,180 --> 00:10:54,400 Yeah, really good question. 370 00:10:54,400 --> 00:10:57,880 So the Scalable Six is six sections, six 371 00:10:57,880 --> 00:10:59,980 milestones that you have to make sure that 372 00:10:59,980 --> 00:11:00,620 you have hit. 373 00:11:01,280 --> 00:11:02,740 And I want to talk a little bit 374 00:11:02,740 --> 00:11:05,260 about niching, niching here in the UK, but 375 00:11:05,260 --> 00:11:06,700 I'll call it niching as I'm speaking to 376 00:11:06,700 --> 00:11:08,700 an American because the first part of the 377 00:11:08,700 --> 00:11:10,680 Scalable Six is getting clear on who is 378 00:11:10,680 --> 00:11:12,420 your ideal person, okay? 379 00:11:12,760 --> 00:11:15,120 And by ideal person, it's who is it 380 00:11:15,120 --> 00:11:16,940 that you are able to serve? 381 00:11:17,060 --> 00:11:19,140 So you've taken all of your experience, you've 382 00:11:19,140 --> 00:11:20,900 taken all of your education, you've taken who 383 00:11:20,900 --> 00:11:23,240 you are as a person, who's best fit 384 00:11:23,240 --> 00:11:23,740 for you? 385 00:11:23,740 --> 00:11:25,220 And all of that knowledge and all of 386 00:11:25,220 --> 00:11:26,020 that experience. 387 00:11:26,380 --> 00:11:28,420 And it's not just anyone with a business, 388 00:11:28,460 --> 00:11:31,680 you decide who you serve, the state where 389 00:11:31,680 --> 00:11:33,800 they are at in their business, the pains 390 00:11:33,800 --> 00:11:35,100 that wake them up at three o'clock 391 00:11:35,100 --> 00:11:37,400 in the morning, the future they actually want. 392 00:11:37,700 --> 00:11:39,420 And you say, who am I the obvious 393 00:11:39,420 --> 00:11:40,160 advisor for? 394 00:11:40,440 --> 00:11:43,560 Now, interestingly, I'm a really good advisor to 395 00:11:43,560 --> 00:11:46,860 accountants and bookkeepers and CFOs and consultants who 396 00:11:46,860 --> 00:11:48,000 are really good with the money. 397 00:11:48,140 --> 00:11:49,560 So I know a lot of your listeners 398 00:11:49,560 --> 00:11:52,240 will be money-based and they're really good 399 00:11:52,240 --> 00:11:54,860 clients for me because I am obsessed by 400 00:11:54,860 --> 00:11:56,780 data, systemizing processes. 401 00:11:57,300 --> 00:11:59,500 I'm obsessed by making sure everything I do 402 00:11:59,500 --> 00:12:00,580 is profit-driven. 403 00:12:01,040 --> 00:12:03,160 So I'm in my bank accounts every single 404 00:12:03,160 --> 00:12:03,440 day. 405 00:12:03,640 --> 00:12:05,420 I need to work with people that are 406 00:12:05,420 --> 00:12:08,160 as obsessed as I am because what I 407 00:12:08,160 --> 00:12:09,880 teach them means you have to be obsessed 408 00:12:09,880 --> 00:12:11,520 about your time and the money, right? 409 00:12:11,640 --> 00:12:14,840 So my question would be to your listeners 410 00:12:14,840 --> 00:12:17,900 is who is a really good client for 411 00:12:17,900 --> 00:12:18,180 you? 412 00:12:18,300 --> 00:12:20,580 Who's obsessed with the things that you're obsessed 413 00:12:20,580 --> 00:12:23,100 with or who wants what you can give 414 00:12:23,100 --> 00:12:23,360 them? 415 00:12:23,720 --> 00:12:25,300 And when you get clear on that, it 416 00:12:25,300 --> 00:12:27,740 might be an industry niche, it might be 417 00:12:27,740 --> 00:12:30,880 a person's personality, it might be that you 418 00:12:30,880 --> 00:12:32,800 want to be the local business advisor. 419 00:12:32,940 --> 00:12:35,300 So where you are in Tampa, maybe you 420 00:12:35,300 --> 00:12:36,860 just want to be the person that saves 421 00:12:36,860 --> 00:12:38,860 every business in Tampa, which means you're on 422 00:12:38,860 --> 00:12:39,240 a mission. 423 00:12:39,600 --> 00:12:42,420 So then you create a mission-worthy following, 424 00:12:42,820 --> 00:12:43,140 okay? 425 00:12:43,520 --> 00:12:45,700 And they all come together and you uplift 426 00:12:45,700 --> 00:12:48,820 Tampa and that's absolutely fine because that is 427 00:12:48,820 --> 00:12:51,440 who you're the obvious advisor for, right? 428 00:12:51,640 --> 00:12:53,120 So that's the first thing that you have 429 00:12:53,120 --> 00:12:54,860 to do is get clear on your person. 430 00:12:55,160 --> 00:12:57,080 Then you have to decide, well, what's your 431 00:12:57,080 --> 00:12:57,560 positioning? 432 00:12:58,100 --> 00:13:00,640 So then how do I show up in 433 00:13:00,640 --> 00:13:00,980 the market? 434 00:13:01,100 --> 00:13:02,560 Well, I show up in the market as 435 00:13:02,560 --> 00:13:05,080 the person that helps advisors or helps people 436 00:13:05,080 --> 00:13:06,600 doing the work to become advisors. 437 00:13:06,840 --> 00:13:08,140 How do you show up in the market? 438 00:13:08,240 --> 00:13:10,640 So how are your listeners showing up and 439 00:13:10,640 --> 00:13:12,520 saying, this is what I specialize in, this 440 00:13:12,520 --> 00:13:14,840 is the transformation I give my clients and 441 00:13:14,840 --> 00:13:17,780 this is who I am and how I 442 00:13:17,780 --> 00:13:18,000 am. 443 00:13:18,180 --> 00:13:19,980 Now, positioning is also a little bit about 444 00:13:19,980 --> 00:13:23,000 branding and I'd like to just share a 445 00:13:23,000 --> 00:13:24,260 story with your listeners. 446 00:13:24,600 --> 00:13:27,020 Well, actually a metaphor, not a story, to 447 00:13:27,020 --> 00:13:27,860 help you understand. 448 00:13:28,200 --> 00:13:30,300 So do you have Bic pens over in 449 00:13:30,300 --> 00:13:30,660 the States? 450 00:13:30,840 --> 00:13:31,640 Do you know what I mean by a 451 00:13:31,640 --> 00:13:31,840 Bic pen? 452 00:13:31,980 --> 00:13:32,380 Yeah, great. 453 00:13:32,520 --> 00:13:34,340 So you've got Bic pens, you've got Parker 454 00:13:34,340 --> 00:13:37,460 pens and then you've got Montblanc pens, okay? 455 00:13:37,860 --> 00:13:38,300 Montblanc pens. 456 00:13:38,300 --> 00:13:38,800 You've got them all right here in front 457 00:13:38,800 --> 00:13:39,020 of me. 458 00:13:39,120 --> 00:13:40,220 You've got them all there, right. 459 00:13:40,360 --> 00:13:41,300 Okay, amazing. 460 00:13:41,500 --> 00:13:42,560 That's absolutely perfect. 461 00:13:42,560 --> 00:13:44,960 So when one buys a Bic pen, it 462 00:13:44,960 --> 00:13:46,560 is because they can throw it in their 463 00:13:46,560 --> 00:13:48,200 bag, they can throw it around, they can 464 00:13:48,200 --> 00:13:49,140 lose it if they want to. 465 00:13:49,220 --> 00:13:50,240 It costs them 10 pence. 466 00:13:50,340 --> 00:13:51,120 It's super easy. 467 00:13:51,260 --> 00:13:52,280 I need to write something. 468 00:13:52,560 --> 00:13:53,340 Give me a pen. 469 00:13:53,480 --> 00:13:54,280 Anyone got a pen? 470 00:13:54,540 --> 00:13:56,600 You get past a Bic pen, absolutely fine. 471 00:13:56,800 --> 00:13:57,920 Then you have a Parker pen. 472 00:13:58,020 --> 00:13:59,840 Now, a Parker pen is often the first 473 00:13:59,840 --> 00:14:02,040 pen that you'll buy for yourself or get 474 00:14:02,040 --> 00:14:04,360 as a present to kind of go, hey, 475 00:14:04,380 --> 00:14:05,680 you're becoming a bit of a grownup. 476 00:14:05,760 --> 00:14:06,920 Let me give you something nice. 477 00:14:07,040 --> 00:14:08,460 Your parents might get it for you. 478 00:14:08,780 --> 00:14:10,860 Grandparents might get it for you, but it's 479 00:14:10,860 --> 00:14:11,440 a gift. 480 00:14:11,600 --> 00:14:13,920 It's gift-worthy, but it's not like, oh 481 00:14:13,920 --> 00:14:14,860 my gosh, that's amazing. 482 00:14:14,980 --> 00:14:16,700 It's like, hey, thanks, I've got a pen 483 00:14:16,700 --> 00:14:18,000 and it weighs a bit heavier than my 484 00:14:18,000 --> 00:14:18,800 Bic kind of thing. 485 00:14:19,080 --> 00:14:20,740 Then you've got the Montblanc, which is the 486 00:14:20,740 --> 00:14:21,440 creme de la creme. 487 00:14:21,540 --> 00:14:22,380 It means something. 488 00:14:22,680 --> 00:14:24,180 It's like having a Rolex, okay? 489 00:14:24,240 --> 00:14:25,940 The kind of people who want a Montblanc 490 00:14:25,940 --> 00:14:28,100 is someone who goes, I've achieved something. 491 00:14:28,460 --> 00:14:29,200 This is amazing. 492 00:14:29,440 --> 00:14:30,760 I want to be sophisticated. 493 00:14:31,280 --> 00:14:34,080 I want to have something that represents my 494 00:14:34,080 --> 00:14:34,540 achievements. 495 00:14:34,760 --> 00:14:36,260 It makes you feel good when you use 496 00:14:36,260 --> 00:14:36,800 the Montblanc. 497 00:14:36,980 --> 00:14:39,260 So there's different levels of pens and there's 498 00:14:39,260 --> 00:14:40,760 different levels of businesses. 499 00:14:41,320 --> 00:14:43,540 You've got businesses that market themselves as the 500 00:14:43,540 --> 00:14:43,780 Bic. 501 00:14:44,020 --> 00:14:45,960 You've got businesses that market themselves as the 502 00:14:45,960 --> 00:14:48,160 Parker and you've got businesses that market themselves 503 00:14:48,160 --> 00:14:48,940 as the Montblanc. 504 00:14:49,080 --> 00:14:51,620 If you want to have a freedom business, 505 00:14:51,760 --> 00:14:52,960 you cannot be a Bic. 506 00:14:53,160 --> 00:14:55,280 It's as simple as that because it's low 507 00:14:55,280 --> 00:14:58,040 priced, mass market, you are throwaway. 508 00:14:58,220 --> 00:15:00,260 You're going to get lost amongst everybody else. 509 00:15:00,540 --> 00:15:02,680 You can market yourself as a Parker if 510 00:15:02,680 --> 00:15:03,320 you want to. 511 00:15:03,560 --> 00:15:07,260 However, you still are competing with people that 512 00:15:07,260 --> 00:15:09,220 kind of go, can I afford it this 513 00:15:09,220 --> 00:15:09,440 month? 514 00:15:09,600 --> 00:15:10,700 Can't I afford it this month? 515 00:15:10,780 --> 00:15:12,640 So if we can position ourselves between a 516 00:15:12,640 --> 00:15:15,340 Parker and a Montblanc, then we start to 517 00:15:15,340 --> 00:15:16,640 attract those premium clients. 518 00:15:17,140 --> 00:15:19,120 Now, what I want to get across here 519 00:15:19,120 --> 00:15:21,960 is that it's about how you make someone 520 00:15:21,960 --> 00:15:25,200 feel as much as what the job does, 521 00:15:25,660 --> 00:15:26,000 okay? 522 00:15:26,100 --> 00:15:28,240 Because a Bic pen does the same job 523 00:15:28,240 --> 00:15:30,300 as a Montblanc, but a Montblanc makes you 524 00:15:30,300 --> 00:15:32,520 feel blimmin' awesome when you use it, okay? 525 00:15:32,740 --> 00:15:34,360 So that's what I mean by positioning. 526 00:15:34,560 --> 00:15:36,360 Who's your ideal client and how are you 527 00:15:36,360 --> 00:15:38,560 going to position yourself so that you don't 528 00:15:38,560 --> 00:15:41,920 sound like every accountant, bookkeeper, business advisor, and 529 00:15:41,920 --> 00:15:43,500 how are you going to make people feel 530 00:15:43,500 --> 00:15:43,900 amazing? 531 00:15:44,340 --> 00:15:45,080 So that's it. 532 00:15:45,320 --> 00:15:46,640 Do you want to ask me questions before 533 00:15:46,640 --> 00:15:46,820 I go on? 534 00:15:46,820 --> 00:15:47,060 Yeah, I do. 535 00:15:47,140 --> 00:15:48,680 I want to jump back because here's what 536 00:15:48,680 --> 00:15:50,220 I think is interesting is I think ideal 537 00:15:50,220 --> 00:15:53,080 person is skipped past a lot of people's 538 00:15:53,080 --> 00:15:54,760 cases, but I also think it's where people 539 00:15:54,760 --> 00:15:57,120 struggle the most because a lot of people 540 00:15:57,120 --> 00:15:59,480 really do not even know who they're truly 541 00:15:59,480 --> 00:16:00,520 trying to market to. 542 00:16:00,680 --> 00:16:02,160 And everybody wants to skip it. 543 00:16:02,180 --> 00:16:03,040 They don't understand their avatar. 544 00:16:03,160 --> 00:16:04,140 They don't understand their target market. 545 00:16:04,140 --> 00:16:06,440 Then they're out there just marketing a shotgun 546 00:16:06,440 --> 00:16:08,080 approach to anybody that will respond. 547 00:16:08,480 --> 00:16:11,180 Then they attract people and they attract the 548 00:16:11,180 --> 00:16:12,000 big people, right? 549 00:16:12,060 --> 00:16:13,120 Like they just attract the big. 550 00:16:13,360 --> 00:16:15,620 Yeah, because what they're saying doesn't cut through 551 00:16:15,620 --> 00:16:17,980 and reach the higher caliber of client. 552 00:16:18,260 --> 00:16:20,860 So they market to everybody and they get 553 00:16:20,860 --> 00:16:21,260 everybody. 554 00:16:21,380 --> 00:16:23,660 And the first thing, I guarantee the messages 555 00:16:23,660 --> 00:16:25,900 of those who market to everyone is how 556 00:16:25,900 --> 00:16:27,440 much do you cost and what do you 557 00:16:27,440 --> 00:16:27,660 sell? 558 00:16:27,980 --> 00:16:28,840 That's all they'll ask. 559 00:16:28,980 --> 00:16:31,500 That's all they'll ask because they don't understand 560 00:16:31,500 --> 00:16:33,300 what that person can do for them different 561 00:16:33,300 --> 00:16:34,180 from the other. 562 00:16:34,500 --> 00:16:36,220 And I think business coach is a really 563 00:16:36,220 --> 00:16:37,880 good example of that because you call yourself 564 00:16:37,880 --> 00:16:40,820 a business coach or business coaches, what differentiates 565 00:16:40,820 --> 00:16:41,020 them? 566 00:16:41,340 --> 00:16:43,300 What differentiates one business coach from another? 567 00:16:43,600 --> 00:16:45,460 It's gotta be who you help in your 568 00:16:45,460 --> 00:16:47,920 specialism, how you help them and your positioning 569 00:16:47,920 --> 00:16:50,940 so that people know that you're the right 570 00:16:50,940 --> 00:16:51,900 caliber for them. 571 00:16:52,100 --> 00:16:53,620 So what advice do you give for somebody 572 00:16:53,620 --> 00:16:54,800 right there on step one? 573 00:16:54,900 --> 00:16:57,500 Like what advice do you give them to 574 00:16:57,500 --> 00:17:00,020 find out who they really want to market 575 00:17:00,020 --> 00:17:01,860 to when they think they have a product 576 00:17:01,860 --> 00:17:03,740 but it could apply to so many different 577 00:17:03,740 --> 00:17:04,780 demographics of people? 578 00:17:05,040 --> 00:17:06,280 Yeah, really good question. 579 00:17:06,480 --> 00:17:08,560 So there's four basic things, okay? 580 00:17:08,900 --> 00:17:10,160 First of all is. 581 00:17:10,700 --> 00:17:12,359 And now a quick break to hear from 582 00:17:12,359 --> 00:17:13,040 our sponsor. 583 00:17:14,020 --> 00:17:15,680 Hey, it's Ty Crandall with Credit Suite. 584 00:17:15,819 --> 00:17:17,619 Many of our subscribers wanna get the most 585 00:17:17,619 --> 00:17:19,460 money to grow their business at the best 586 00:17:19,460 --> 00:17:20,020 terms. 587 00:17:20,300 --> 00:17:22,300 Whether you're looking for startup capital, low interest 588 00:17:22,300 --> 00:17:25,000 credit lines and loans or business credit, we 589 00:17:25,000 --> 00:17:25,960 can definitely help you. 590 00:17:26,020 --> 00:17:27,960 So give us a call at 877-600 591 00:17:27,960 --> 00:17:31,560 -2487 or schedule your free consultation at creditsuite 592 00:17:31,560 --> 00:17:33,920 .com forward slash consult to see how much 593 00:17:33,920 --> 00:17:35,600 money you can get approved for today. 594 00:17:36,120 --> 00:17:38,580 Do your ideal client have a problem that 595 00:17:38,580 --> 00:17:39,320 you can solve? 596 00:17:39,440 --> 00:17:40,900 So who has a problem that you can 597 00:17:40,900 --> 00:17:41,120 solve? 598 00:17:41,180 --> 00:17:44,960 So for you, for example, your ideal client 599 00:17:44,960 --> 00:17:46,000 is one of two people. 600 00:17:46,180 --> 00:17:47,720 It could be the end user or it 601 00:17:47,720 --> 00:17:50,060 could be a partnership that gets you to 602 00:17:50,060 --> 00:17:51,260 the end user, okay? 603 00:17:51,400 --> 00:17:54,740 So then your niche might be partnerships like 604 00:17:54,740 --> 00:17:55,960 me, for example, okay? 605 00:17:56,280 --> 00:17:57,880 Or it could be I'm gonna market to 606 00:17:57,880 --> 00:17:59,060 the end user and then you get clear 607 00:17:59,060 --> 00:18:00,140 on who that end user is. 608 00:18:00,140 --> 00:18:02,460 Then we say, so who are they? 609 00:18:02,720 --> 00:18:04,820 And do they have a problem that you 610 00:18:04,820 --> 00:18:05,540 can help them with? 611 00:18:05,860 --> 00:18:08,380 Then we say, can they afford to pay 612 00:18:08,380 --> 00:18:09,620 to overcome that problem? 613 00:18:09,940 --> 00:18:13,120 Then we say, do they actually see you 614 00:18:13,120 --> 00:18:15,000 as the person that can advise them? 615 00:18:15,260 --> 00:18:17,200 And then the other one that I absolutely 616 00:18:17,200 --> 00:18:19,000 love is can you get in front of 617 00:18:19,000 --> 00:18:19,200 them? 618 00:18:19,300 --> 00:18:21,660 Because it might be great for you to, 619 00:18:21,860 --> 00:18:23,960 or our listeners to say, oh, I really 620 00:18:23,960 --> 00:18:28,720 want to help people who make napkins for 621 00:18:28,720 --> 00:18:29,820 the general public. 622 00:18:29,820 --> 00:18:31,300 I don't know where that came from. 623 00:18:31,420 --> 00:18:32,200 I've just made that up. 624 00:18:32,460 --> 00:18:34,840 How the hell do you find people who 625 00:18:34,840 --> 00:18:37,980 want to buy napkins without having to broadcast 626 00:18:37,980 --> 00:18:40,360 everywhere and hope that you hit someone? 627 00:18:40,620 --> 00:18:42,920 There are groups of people that get together 628 00:18:42,920 --> 00:18:45,320 and go to napkin conferences, right? 629 00:18:45,540 --> 00:18:48,340 However, there are groups of people that are 630 00:18:48,340 --> 00:18:49,880 lawyers, that are accountants. 631 00:18:50,000 --> 00:18:52,040 There are groups of people that are entrepreneurial. 632 00:18:52,460 --> 00:18:54,020 So it might be that you work with 633 00:18:54,020 --> 00:18:55,720 a certain kind of entrepreneur with a certain 634 00:18:55,720 --> 00:18:57,660 kind of revenue and you can get in 635 00:18:57,660 --> 00:18:58,080 front of them. 636 00:18:58,140 --> 00:18:59,260 So you look at the conferences. 637 00:18:59,260 --> 00:19:02,320 So when my clients go and choose, I 638 00:19:02,320 --> 00:19:03,660 like to say they have a problem. 639 00:19:04,000 --> 00:19:05,040 You can easily find them. 640 00:19:05,340 --> 00:19:06,520 You can easily get in front of them. 641 00:19:06,640 --> 00:19:08,720 They can afford you and you can help 642 00:19:08,720 --> 00:19:10,380 them with a problem. 643 00:19:10,860 --> 00:19:12,700 However, there are other things as well. 644 00:19:12,920 --> 00:19:14,960 So they're the four main ones. 645 00:19:15,300 --> 00:19:17,720 If they already have clients and we're going, 646 00:19:17,860 --> 00:19:20,060 right, who in your client base is the 647 00:19:20,060 --> 00:19:21,540 opposite of a vampire client? 648 00:19:21,640 --> 00:19:23,860 So who doesn't suck the life out of 649 00:19:23,860 --> 00:19:24,040 you? 650 00:19:24,180 --> 00:19:25,660 Now make a list of them. 651 00:19:26,060 --> 00:19:28,080 And then we go, do they pay you 652 00:19:28,080 --> 00:19:28,480 on time? 653 00:19:28,480 --> 00:19:29,880 Do they enjoy paying you? 654 00:19:30,000 --> 00:19:31,360 Do you like hanging out with them? 655 00:19:31,440 --> 00:19:33,860 And you start to ask a few nuanced 656 00:19:34,500 --> 00:19:36,340 questions that help you get deeper. 657 00:19:36,540 --> 00:19:38,000 So everything I do is in a spreadsheet 658 00:19:38,000 --> 00:19:39,380 and we just mark one out of 10. 659 00:19:39,640 --> 00:19:40,880 So we have all of these things on 660 00:19:40,880 --> 00:19:42,720 the left hand side of the questions that 661 00:19:42,720 --> 00:19:43,480 we should be asking. 662 00:19:43,760 --> 00:19:44,580 Can they afford us? 663 00:19:44,780 --> 00:19:45,460 Can we help them? 664 00:19:45,640 --> 00:19:46,400 Can we find them? 665 00:19:46,600 --> 00:19:47,900 And then we just mark out of 10 666 00:19:47,900 --> 00:19:50,360 on a spreadsheet, answering all of those to 667 00:19:50,360 --> 00:19:52,460 go with your clients that you currently work 668 00:19:52,460 --> 00:19:52,660 with. 669 00:19:52,860 --> 00:19:54,180 And it spits out a number and you 670 00:19:54,180 --> 00:19:55,460 go for the number that's got the highest 671 00:19:55,460 --> 00:19:55,720 score. 672 00:19:56,040 --> 00:19:56,640 Simple as that. 673 00:19:57,040 --> 00:19:57,960 Don't overthink it. 674 00:19:57,960 --> 00:19:59,900 And if you can't make a decision, I'll 675 00:19:59,900 --> 00:20:01,800 make the decision for you, because I know 676 00:20:01,800 --> 00:20:03,560 loads of different niches and I know which 677 00:20:03,560 --> 00:20:04,960 ones are easy and which ones are hard. 678 00:20:05,520 --> 00:20:07,100 Sounds really easy when I say it like 679 00:20:07,100 --> 00:20:07,340 that. 680 00:20:07,640 --> 00:20:08,860 Yeah, it does. 681 00:20:08,980 --> 00:20:10,360 But the way you have a system, I 682 00:20:10,360 --> 00:20:11,520 think it simplifies it. 683 00:20:11,600 --> 00:20:13,240 So let's say we have the right person 684 00:20:13,240 --> 00:20:15,140 and now we've figured out our positioning. 685 00:20:15,340 --> 00:20:16,460 Then what's the next step? 686 00:20:16,500 --> 00:20:17,440 What are we working on next? 687 00:20:17,600 --> 00:20:18,720 Yeah, really good question. 688 00:20:18,880 --> 00:20:20,360 This is my favorite bit, which is your 689 00:20:20,360 --> 00:20:20,800 product. 690 00:20:21,080 --> 00:20:22,880 So a lot of my clients are service 691 00:20:22,880 --> 00:20:25,380 providers and they go, oh, how can we 692 00:20:25,380 --> 00:20:26,240 create a product? 693 00:20:26,380 --> 00:20:27,280 We don't have products. 694 00:20:27,280 --> 00:20:29,760 So what I want your clients to think 695 00:20:29,760 --> 00:20:32,940 about is when they package up their services, 696 00:20:33,600 --> 00:20:35,300 I want them to think about taking everything 697 00:20:35,300 --> 00:20:36,880 that they do and putting it into a 698 00:20:36,880 --> 00:20:37,840 beautiful box. 699 00:20:37,980 --> 00:20:39,900 So we productize what they do. 700 00:20:40,020 --> 00:20:41,800 OK, so we take all of their knowledge, 701 00:20:41,880 --> 00:20:42,820 all of their experience. 702 00:20:42,960 --> 00:20:44,740 We look at their ideal client and the 703 00:20:44,740 --> 00:20:46,580 journey that they need to go on to 704 00:20:46,580 --> 00:20:49,300 go from the pain to the solution, that 705 00:20:49,300 --> 00:20:50,600 journey that they go on. 706 00:20:50,680 --> 00:20:53,540 We call it a signature methodology, that signature 707 00:20:53,540 --> 00:20:54,200 methodology. 708 00:20:54,300 --> 00:20:56,460 We put a box around it and tie 709 00:20:56,460 --> 00:20:57,880 it in a bow and we call it 710 00:20:57,880 --> 00:20:58,260 something. 711 00:20:58,700 --> 00:21:01,080 And it takes people from pain to solution. 712 00:21:01,380 --> 00:21:03,180 And when I put a box around it 713 00:21:03,180 --> 00:21:04,700 and tie it in a bow, I often 714 00:21:04,700 --> 00:21:07,220 think of the Tiffany box because you want 715 00:21:07,220 --> 00:21:09,620 to present it of something of that caliber. 716 00:21:10,060 --> 00:21:12,040 You can create crap products. 717 00:21:12,340 --> 00:21:12,880 Pardon my French. 718 00:21:12,980 --> 00:21:14,380 You can create stuff that's rubbish. 719 00:21:14,780 --> 00:21:16,860 So what we have to do is test 720 00:21:16,860 --> 00:21:18,840 whether or not that product's any good by 721 00:21:18,840 --> 00:21:21,760 taking it to market, getting feedback, iterating it, 722 00:21:21,980 --> 00:21:23,380 making it better, making it better. 723 00:21:23,480 --> 00:21:25,260 So the product I have now is way 724 00:21:25,260 --> 00:21:26,560 better than the product I had 10 years 725 00:21:26,560 --> 00:21:26,780 ago. 726 00:21:27,040 --> 00:21:27,760 I wish it wasn't. 727 00:21:27,880 --> 00:21:29,340 I wish I was amazing 10 years ago. 728 00:21:29,460 --> 00:21:31,820 But I've iterated, iterated and iterated to have 729 00:21:31,820 --> 00:21:32,740 something world class. 730 00:21:32,940 --> 00:21:35,380 But without getting all of your knowledge and 731 00:21:35,380 --> 00:21:37,860 all of your experience out and combining that 732 00:21:37,860 --> 00:21:39,920 with your ideal client and creating the methodology, 733 00:21:40,240 --> 00:21:41,220 we can't productize. 734 00:21:41,480 --> 00:21:43,980 Once we've got that methodology, we then break 735 00:21:43,980 --> 00:21:46,880 it down into different stages and then we 736 00:21:46,880 --> 00:21:48,960 productize each of those little stages. 737 00:21:49,160 --> 00:21:51,080 Each of those stages have their own model, 738 00:21:51,180 --> 00:21:53,700 their own methodology, their own worksheets, their own 739 00:21:53,700 --> 00:21:54,180 processes. 740 00:21:54,180 --> 00:21:56,900 So that you can wake up tomorrow morning 741 00:21:56,900 --> 00:22:00,080 without any need to do any prep because 742 00:22:00,080 --> 00:22:02,060 you know exactly who your client is, where 743 00:22:02,060 --> 00:22:04,200 they are on your journey, on your method, 744 00:22:04,320 --> 00:22:06,660 and you just go, I need these worksheets 745 00:22:06,660 --> 00:22:08,260 today and you sit down and you help 746 00:22:08,260 --> 00:22:08,440 them. 747 00:22:08,600 --> 00:22:11,580 So I can show up anywhere and I 748 00:22:11,580 --> 00:22:12,880 won't know what the conversation is going to 749 00:22:12,880 --> 00:22:14,740 be, but I've got a worksheet for it. 750 00:22:14,800 --> 00:22:15,640 I've got a method for it. 751 00:22:15,660 --> 00:22:16,500 I've got a model for it. 752 00:22:16,560 --> 00:22:17,920 I've got a metaphor for it. 753 00:22:18,080 --> 00:22:18,480 Everything. 754 00:22:18,880 --> 00:22:21,460 We call them delivery snapshots and I've just 755 00:22:21,460 --> 00:22:23,060 got it all packaged up and it's amazing. 756 00:22:23,060 --> 00:22:26,460 So I just, I'm a walking product myself. 757 00:22:26,780 --> 00:22:27,260 I love it. 758 00:22:27,500 --> 00:22:29,420 Now, do you think that because product and 759 00:22:29,420 --> 00:22:30,640 services are different, right? 760 00:22:30,800 --> 00:22:33,300 And so what you're doing seems like it'd 761 00:22:33,300 --> 00:22:34,860 be hard to deliver a service. 762 00:22:35,280 --> 00:22:37,080 It easier to deliver a product. 763 00:22:37,080 --> 00:22:38,600 No, it's service. 764 00:22:38,800 --> 00:22:41,560 So if you think about a marketing agency, 765 00:22:41,800 --> 00:22:44,920 a marketing agency runs Facebook ads, for example. 766 00:22:45,240 --> 00:22:47,180 But instead of running the Facebook ads, you 767 00:22:47,180 --> 00:22:49,100 train your clients how to run their own 768 00:22:49,100 --> 00:22:51,720 Facebook ads and then you can have Q 769 00:22:51,720 --> 00:22:53,800 &A sessions with them where they can ask 770 00:22:53,800 --> 00:22:54,260 questions. 771 00:22:54,580 --> 00:22:56,240 It's a little bit like if you give 772 00:22:56,240 --> 00:22:57,480 a man a fish, you feed him for 773 00:22:57,480 --> 00:22:57,820 a day. 774 00:22:58,000 --> 00:22:59,460 If you teach a man to fish, you 775 00:22:59,460 --> 00:23:00,280 feed him for a lifetime. 776 00:23:00,620 --> 00:23:02,060 When you do the work for your clients, 777 00:23:02,140 --> 00:23:03,140 you're giving them fish. 778 00:23:03,400 --> 00:23:04,620 When you teach them how to do it 779 00:23:04,620 --> 00:23:06,600 themselves, you're feeding them for a lifetime. 780 00:23:06,980 --> 00:23:09,860 Now I have spent all in all about 781 00:23:09,860 --> 00:23:13,340 £150,000, pounds, dollars. 782 00:23:13,560 --> 00:23:17,060 Let's interchange them, probably pounds on Facebook ad 783 00:23:17,060 --> 00:23:17,520 agencies. 784 00:23:17,800 --> 00:23:20,240 They have done a terrible, terrible job. 785 00:23:21,360 --> 00:23:22,080 Wasted, wasted. 786 00:23:22,580 --> 00:23:23,820 And every time I go, do you know 787 00:23:23,820 --> 00:23:23,980 what? 788 00:23:24,020 --> 00:23:25,220 I'm just going to do it because this 789 00:23:25,220 --> 00:23:26,940 one will be different and it's not. 790 00:23:27,240 --> 00:23:29,500 But the best people that have helped me 791 00:23:29,500 --> 00:23:31,320 with Facebook ads and I've got great success 792 00:23:31,320 --> 00:23:33,420 now is someone when you need to do 793 00:23:33,420 --> 00:23:34,880 this, then you need to do this, then 794 00:23:34,880 --> 00:23:35,960 you need to do this and you need 795 00:23:35,960 --> 00:23:36,600 to tweak this. 796 00:23:36,800 --> 00:23:38,020 And they taught me how to do it 797 00:23:38,020 --> 00:23:38,520 in house. 798 00:23:38,680 --> 00:23:40,620 So now I've got, I've actually hired my 799 00:23:40,620 --> 00:23:40,880 son. 800 00:23:40,940 --> 00:23:42,560 So the great thing about building a business 801 00:23:42,560 --> 00:23:44,540 for freedom, you can hire your family, right? 802 00:23:44,740 --> 00:23:45,960 So I've hired my son. 803 00:23:46,100 --> 00:23:47,760 He's learning how to do Facebook ads. 804 00:23:47,820 --> 00:23:49,820 He runs all of that for me and 805 00:23:49,820 --> 00:23:50,560 it's amazing. 806 00:23:50,940 --> 00:23:53,160 I didn't self-teach Facebook ads. 807 00:23:53,300 --> 00:23:55,180 I hired someone to teach us and now 808 00:23:55,180 --> 00:23:55,980 we can do it ourselves. 809 00:23:56,640 --> 00:23:59,700 Nobody is more invested in your business than 810 00:23:59,700 --> 00:24:00,380 yourself. 811 00:24:00,560 --> 00:24:02,320 OK, my son is invested in my business 812 00:24:02,320 --> 00:24:04,080 because he just sees inheritance pounds. 813 00:24:04,660 --> 00:24:04,880 All right. 814 00:24:05,120 --> 00:24:07,780 So like you can't get anyone more invested 815 00:24:07,780 --> 00:24:08,260 than you. 816 00:24:08,360 --> 00:24:09,720 So learn how to do it. 817 00:24:09,780 --> 00:24:11,800 Teach other people how to do it and 818 00:24:11,800 --> 00:24:12,620 they will be invested. 819 00:24:13,080 --> 00:24:14,360 But you have to have the right clients, 820 00:24:14,440 --> 00:24:16,360 the ones who take action, who listen, who 821 00:24:16,360 --> 00:24:17,720 are coachable and want to learn. 822 00:24:18,040 --> 00:24:18,440 I love it. 823 00:24:18,440 --> 00:24:19,780 Yeah, I think so. 824 00:24:19,900 --> 00:24:21,940 When you're somebody who's building the right product, 825 00:24:22,020 --> 00:24:23,460 do you think that that is the right 826 00:24:23,460 --> 00:24:25,620 that that's the best strategy is to teach 827 00:24:25,620 --> 00:24:27,880 them to do it instead of doing it 828 00:24:27,880 --> 00:24:28,300 for them? 829 00:24:28,340 --> 00:24:29,920 Because it seems like a lot of people 830 00:24:29,920 --> 00:24:31,280 would be afraid that if you teach them 831 00:24:31,280 --> 00:24:33,120 to do it, that the turnover that client 832 00:24:33,120 --> 00:24:34,060 would be faster, right? 833 00:24:34,080 --> 00:24:35,300 Because once you teach them, then they're kind 834 00:24:35,300 --> 00:24:37,060 of gone versus if you're doing it for 835 00:24:37,060 --> 00:24:38,240 them, where they kind of become reliant. 836 00:24:38,380 --> 00:24:39,060 It's more sticky. 837 00:24:39,200 --> 00:24:40,300 Somebody may actually say. 838 00:24:40,880 --> 00:24:41,040 Yeah. 839 00:24:41,300 --> 00:24:43,380 So I think being a PT is a 840 00:24:43,380 --> 00:24:44,900 really good example of this. 841 00:24:44,960 --> 00:24:47,280 So we all hire personal trainers because you 842 00:24:47,280 --> 00:24:47,480 know what? 843 00:24:47,480 --> 00:24:48,760 The most difficult thing for us to do 844 00:24:48,760 --> 00:24:50,740 is get out of bed, go for a 845 00:24:50,740 --> 00:24:52,520 run and do the weights. 846 00:24:52,940 --> 00:24:56,580 So the reason why actually teaching your clients 847 00:24:56,580 --> 00:24:59,100 to do this yourself is so amazing is 848 00:24:59,100 --> 00:25:02,480 because they won't do it without accountability, without 849 00:25:02,480 --> 00:25:04,940 having someone to ask, without someone having their 850 00:25:04,940 --> 00:25:05,200 back. 851 00:25:05,360 --> 00:25:07,900 So when I get a client, I finish 852 00:25:07,900 --> 00:25:09,880 my sales conversations with two questions. 853 00:25:10,220 --> 00:25:12,180 The first question is, do you trust yourself 854 00:25:12,180 --> 00:25:12,860 to do the work? 855 00:25:13,080 --> 00:25:14,680 OK, so we first of all, we make 856 00:25:14,680 --> 00:25:16,240 sure that the client is actually going to 857 00:25:16,240 --> 00:25:19,420 take action and then I say, second question, 858 00:25:19,520 --> 00:25:20,520 if they say yes to that. 859 00:25:20,780 --> 00:25:22,360 Second question is, do you trust me to 860 00:25:22,360 --> 00:25:23,280 be the one to help you? 861 00:25:23,480 --> 00:25:24,980 And if they don't say yes to that, 862 00:25:25,260 --> 00:25:26,460 then we're not going to be able to 863 00:25:26,460 --> 00:25:28,060 teach them anything because they're not going to 864 00:25:28,060 --> 00:25:28,480 trust me. 865 00:25:28,560 --> 00:25:30,340 So we have to have customer buy in. 866 00:25:30,600 --> 00:25:32,200 Then you know what it's like. 867 00:25:32,340 --> 00:25:33,680 Running a business is never ending. 868 00:25:33,900 --> 00:25:36,280 We need someone in our court. 869 00:25:36,400 --> 00:25:37,820 We need someone to support us. 870 00:25:37,940 --> 00:25:40,200 So that's where the business advisor steps in. 871 00:25:40,320 --> 00:25:43,060 Their accountability partner, their goal setting partner, their 872 00:25:43,060 --> 00:25:44,540 oh my gosh, I'm having a bad day 873 00:25:44,540 --> 00:25:44,900 partner. 874 00:25:44,980 --> 00:25:46,140 I need someone to cry to. 875 00:25:46,140 --> 00:25:47,820 Oh my gosh, I've got this amazing win. 876 00:25:47,860 --> 00:25:49,140 I need someone to share it with. 877 00:25:49,320 --> 00:25:51,220 Oh, now I want to expand and learn 878 00:25:51,220 --> 00:25:51,480 this. 879 00:25:51,740 --> 00:25:52,400 Can you teach me? 880 00:25:52,460 --> 00:25:53,160 Yes, I can. 881 00:25:53,240 --> 00:25:55,420 Or you bring in other consultants to help 882 00:25:55,420 --> 00:25:56,860 you if it's something that you're not great 883 00:25:56,860 --> 00:25:58,180 at, like HR, for example. 884 00:25:58,520 --> 00:26:01,320 OK, so yeah, 100% clients stay with 885 00:26:01,320 --> 00:26:02,780 me for six, seven, eight years. 886 00:26:03,020 --> 00:26:04,800 The average amount of time a client stays 887 00:26:04,800 --> 00:26:06,640 with a marketing agency is four months because 888 00:26:06,640 --> 00:26:07,880 they don't produce, right? 889 00:26:08,200 --> 00:26:10,620 So there's the numbers there. 890 00:26:10,740 --> 00:26:15,280 I am an advisor and I average across 891 00:26:15,280 --> 00:26:18,160 the board USA numbers four months is how 892 00:26:18,160 --> 00:26:19,840 long someone stays with marketing agency. 893 00:26:19,920 --> 00:26:21,800 Don't be scared, don't be scared. 894 00:26:22,140 --> 00:26:23,760 I love it so we get the product, 895 00:26:23,840 --> 00:26:24,980 figure out what's next. 896 00:26:25,240 --> 00:26:26,920 So once we got a product, we got 897 00:26:26,920 --> 00:26:27,500 price it. 898 00:26:27,820 --> 00:26:31,080 OK, so the biggest problem that I my 899 00:26:31,080 --> 00:26:33,020 clients have when they come to me is 900 00:26:33,020 --> 00:26:34,240 that they're pricing by the hour. 901 00:26:34,520 --> 00:26:37,080 So when you're running an agency, I'll keep 902 00:26:37,080 --> 00:26:38,240 going back to agency because there's a lot 903 00:26:38,240 --> 00:26:39,260 of them out there and I'm sure that 904 00:26:39,260 --> 00:26:40,060 they're listening to you. 905 00:26:40,180 --> 00:26:42,080 If you're whether you're running an agency or 906 00:26:42,080 --> 00:26:44,340 an accounting business or a bookkeeping business, you're 907 00:26:44,340 --> 00:26:45,720 probably charging by the hour. 908 00:26:45,720 --> 00:26:47,500 If you're not charging by the hour, you're 909 00:26:47,500 --> 00:26:50,080 charging by the day or you're pretending to 910 00:26:50,080 --> 00:26:52,180 charge by the product, which is actually you 911 00:26:52,180 --> 00:26:54,880 working out how many hours you are doing 912 00:26:54,880 --> 00:26:56,800 and then you give an overall price and 913 00:26:56,800 --> 00:26:57,920 you call it project pricing. 914 00:26:57,920 --> 00:27:00,400 But actually, it's hourly pricing looking like a 915 00:27:00,400 --> 00:27:00,700 project. 916 00:27:00,900 --> 00:27:02,440 So what we have to do is we 917 00:27:02,440 --> 00:27:04,520 have to move away from time based billing 918 00:27:04,520 --> 00:27:07,120 into value based pricing. 919 00:27:07,240 --> 00:27:09,900 But I actually don't want to say value 920 00:27:09,900 --> 00:27:10,500 based pricing. 921 00:27:10,620 --> 00:27:12,940 I want to say transformational pricing. 922 00:27:13,200 --> 00:27:14,780 So the reason why I want to say 923 00:27:14,780 --> 00:27:17,320 that is because my ideal client is someone 924 00:27:17,320 --> 00:27:20,520 who helps their clients make or save money. 925 00:27:20,840 --> 00:27:23,180 OK, if you can help someone make or 926 00:27:23,180 --> 00:27:25,800 save money, then you can charge way more 927 00:27:25,800 --> 00:27:28,200 than an hourly price for your services. 928 00:27:28,720 --> 00:27:30,740 If I said to you, give me 5000 929 00:27:31,440 --> 00:27:33,800 and I'm going to give you 50,000, 930 00:27:34,320 --> 00:27:35,620 you will say, how can I give you 931 00:27:35,620 --> 00:27:38,640 10,000 so I can have 100,000? 932 00:27:39,060 --> 00:27:41,040 Money in equals money out. 933 00:27:41,220 --> 00:27:43,120 So what we have to do is uncover 934 00:27:43,120 --> 00:27:45,220 when we create the product, we have to 935 00:27:45,220 --> 00:27:49,440 uncover the methodology that clearly articulates the transformation 936 00:27:50,000 --> 00:27:52,120 that their clients are going to have based 937 00:27:52,120 --> 00:27:54,040 around money and time. 938 00:27:54,200 --> 00:27:56,460 The two most precious things in the world 939 00:27:56,460 --> 00:27:58,000 without money and time. 940 00:27:58,000 --> 00:28:00,620 It's very difficult to have freedom and every 941 00:28:00,620 --> 00:28:03,660 single person wants freedom, whether it's time, freedom, 942 00:28:03,780 --> 00:28:06,620 money, freedom, like freedom of stress, any of 943 00:28:06,620 --> 00:28:06,920 that. 944 00:28:07,480 --> 00:28:08,940 If you can help someone make or save 945 00:28:08,940 --> 00:28:11,220 money and make or save time, that's worth 946 00:28:11,220 --> 00:28:13,380 a lot of money more than an hourly 947 00:28:13,380 --> 00:28:13,800 rate. 948 00:28:13,800 --> 00:28:16,000 OK, so the next thing that we do, 949 00:28:16,100 --> 00:28:17,880 we've got to get priced properly. 950 00:28:18,140 --> 00:28:20,220 And if we want to attract high caliber 951 00:28:20,220 --> 00:28:22,260 clients, we have to price accordingly. 952 00:28:22,800 --> 00:28:26,280 If Rolex made a cheap watch, we would 953 00:28:26,280 --> 00:28:28,720 be appalled and we would think that they've 954 00:28:28,720 --> 00:28:30,120 broken their brand promise. 955 00:28:30,300 --> 00:28:33,860 I remember back in the early 2000s, Mercedes 956 00:28:33,860 --> 00:28:37,460 bought, brought out an A-class Mercedes. 957 00:28:37,860 --> 00:28:39,440 It's not the A-class Mercedes they have 958 00:28:39,440 --> 00:28:40,200 now, it's an old one. 959 00:28:40,440 --> 00:28:42,940 And I was, I think I was like 960 00:28:42,940 --> 00:28:44,600 25 years old, 2000. 961 00:28:44,800 --> 00:28:45,960 Yeah, I was 25 in 2000. 962 00:28:46,360 --> 00:28:48,200 And my parents had a Mercedes that I 963 00:28:48,200 --> 00:28:48,860 wanted a Mercedes. 964 00:28:49,020 --> 00:28:50,680 I couldn't afford their Mercedes, so I bought 965 00:28:50,680 --> 00:28:51,380 the A-class. 966 00:28:51,680 --> 00:28:53,420 The problem with the A-class is because 967 00:28:53,420 --> 00:28:56,100 they priced it cheap, affordable for someone like 968 00:28:56,100 --> 00:28:56,420 me. 969 00:28:56,540 --> 00:28:57,760 It was crap, OK? 970 00:28:58,160 --> 00:29:00,880 They broke their brand promise and people stopped 971 00:29:00,880 --> 00:29:03,560 buying Mercedes, especially here in the UK because 972 00:29:03,560 --> 00:29:05,760 they brought out the A-class and started 973 00:29:05,760 --> 00:29:07,200 to cater for the mass market. 974 00:29:07,820 --> 00:29:09,740 And this is the problem that your pricing 975 00:29:09,740 --> 00:29:12,920 also reflects who your ideal client is and 976 00:29:12,920 --> 00:29:13,820 the people you attract. 977 00:29:14,240 --> 00:29:16,100 And they have tweaked it and they've now 978 00:29:16,100 --> 00:29:17,500 got quite a nice A-class and they 979 00:29:17,500 --> 00:29:18,660 don't price it too badly. 980 00:29:18,860 --> 00:29:20,780 But they really ruined their brand promise. 981 00:29:21,020 --> 00:29:21,600 They broke it. 982 00:29:21,800 --> 00:29:23,320 And I bought the A-class and I 983 00:29:23,320 --> 00:29:24,800 felt like an idiot driving around in it 984 00:29:24,800 --> 00:29:25,960 because it wasn't a real Mercedes. 985 00:29:26,100 --> 00:29:27,220 It was a pretend Mercedes, right? 986 00:29:27,560 --> 00:29:28,520 So there you go. 987 00:29:28,920 --> 00:29:29,760 That's what you need to do. 988 00:29:29,980 --> 00:29:32,240 And the only way to make profit is 989 00:29:32,240 --> 00:29:34,980 to price for profit in mind, profit for 990 00:29:34,980 --> 00:29:38,020 your clients and profit for you. 991 00:29:38,560 --> 00:29:40,140 Now, I want to talk about one more 992 00:29:40,140 --> 00:29:43,020 thing actually around pricing and positioning, if that's 993 00:29:43,020 --> 00:29:43,240 OK. 994 00:29:43,700 --> 00:29:45,320 Have you got any questions before I dive 995 00:29:45,320 --> 00:29:45,480 in? 996 00:29:45,480 --> 00:29:46,540 No, no, you're raw on a roll. 997 00:29:46,560 --> 00:29:47,520 All right. 998 00:29:47,700 --> 00:29:47,860 Fine. 999 00:29:48,100 --> 00:29:50,600 So there is an acronym that I've created 1000 00:29:50,600 --> 00:29:51,640 called VITAL. 1001 00:29:51,900 --> 00:29:52,200 All right. 1002 00:29:52,620 --> 00:29:55,320 For you to be able to price and 1003 00:29:55,320 --> 00:29:58,660 position accordingly, you have to be a VITAL 1004 00:29:58,660 --> 00:29:58,980 advisor.