Hello, my friend. Welcome back to the profitable nutritionist podcast. I’m your host, Andrea Nordling, founder of the profitable nutritionist where we help holistic nutritionist and health coaches make a lot more money, serve a lot more people and have a lot more free time. So they can actually be healthy. Why, but I know it’s a little bit crazy, but we kind of like walk the walk and talk the talk around here where we want to actually have the lifestyle and healthy balance that we believe is healthy for our clients. Okay, that was a little bit of an aside, but welcome, welcome. Welcome. I am talking to you today about a recent experience that I had in the last couple months, going to an acquisition.com scaling workshop, if you have no idea what I’m talking about or who acquisition.com is or why that would matter. That’s okay, I’m going to explain all of it. And I’m gonna give you the context on how this fits into my business right now and also how this might be really relevant for you. So here’s the story. In April, I attended a an in person workshop in Las Vegas with Alex and Leila, her Mozi, who are the founders of acquisition.com. If you have been around this podcast for any length of time, you’ve probably heard me talk about Alex and Leila, because some of my favorite business strategy books and resources come from them. So Alex, in particular, has written two books that are required reading for my high level scaling students in the streamlined scale mastermind. And those two books are 100 million dollar offers and $100 million leads, they are solid gold. So I do reference Alex quite a bit. And his podcast the game, which is also great, obviously, you’re a podcast listener, if you’re listening to this right now. So highly recommend that as a resource as well. Laila, his wife has a great podcast called Build, where she talks about the back end of businesses and really team building and creating a profitable organization, and all of the like all of the stuff that really matters. As we’re running a business, we don’t want to think about a lot of times, we want to think about getting leads, and we want to think about selling. And we want to think about all of that sexy stuff. Depending on your personality, maybe you’re the exact opposite. But for a lot of entrepreneurs, we want to talk about those things. And we want to focus on those things that get results right away. And really, I’m quickly learning that the team building and creating a company culture and a scalable asset as well is equally important, if not more, so. So we’ll talk about that a little as well, because that was something that came about in my workshop in Las Vegas when I was there in April. So that is the little context, okay. acquisition.com is a company that does a lot of work, kind of Shark Tank style with other companies and helps them grow. Okay, I’ll give you a little bit more context about that in a second. But big takeaway here is that I went to a workshop with this company, and Alex and Leila and their team. And I’m working with them, ongoing now. And so I want to tell you about that. Because I know just somebody’s like, these are the things I would want to know, maybe you’re not interested. But I think you will be because we’re talking leads and client acquisition today. I think this is going to be relevant for you, whether you know anything about Alex and Leila and their team@acquisition.com or not. Here’s the short course, they grew multiple companies, very young in their 20s, they sold those companies for a lump sum $46 million for a bundle, and then an undisclosed amount for the rest of them before turning 30 years old. So they’ve had a lot of success, and have since invested in dozens of other companies, like I said, kind of Shark Tank style to grow. What is now the acquisition.com portfolio to over $200 million growing fast. And Alex, like I said, has written two great books that I referenced quite a bit 100 million dollar offers how to make an offer. So good people feel stupid saying no and 100 million dollar leads, which is how to sell stuff to strangers or some tagline is something like that guy, you should definitely buy both of those books right now, if you haven’t already. So because I’m a big fan of both of their work. And because I think that they do a great job of taking really complex concepts and breaking them down into super doable, repeatable strategies, which is something I strive to do as well. And I just love that that’s how my brain works. I definitely wanted to attend their live scaling workshop in Las Vegas, that I had heard about earlier this year. So they have never done to my knowledge, anything real public, and live for companies that they haven’t invested in already until now. So I jumped at the opportunity to get there. And the truth is this. This is why online marketing is changing really fast. Like let’s just let’s acknowledge the elephant in the room strategies that were working a year ago aren’t necessarily working as well anymore. AI is disrupting things really rapidly. This is an ongoing conversation I’m having with my High Level Mastermind clients every single week, as we’re sharing all the testing that we are doing here at TPN. All of the things, new things that we’re trying initiatives like the conversions that we’re keeping track of and just like really detailed data about what is working, what isn’t working and the things that we’re trying. These are the kinds of conversations that I have in my mastermind and I’m very transparent with them about what might Tim and I are doing we share with the things that are working, we share processes and templates and systems and stuff for them to implement that. So we’re iterating. Over here, we’re very, very plugged in to what is working and what isn’t working. And I hate to even have to say the word AI in the sentence. It is not my favorite topic That’s putting it mildly. But here we are, okay, there’s a lot of things that are changing software’s technologies, jobs that are obsolete that a year or two ago weren’t, it’s changing quick, I gotta be honest, I don’t love that. But this is the world that we’re living in. And I’m right there with you navigating it and figuring it out. So I don’t say any of this, first of all, to scare you, or dissuade you from digital marketing in your business, it’s quite the opposite. Actually, I want you to lean in with me. And I want you to make sure that you’re using your time and your money most effectively in tools and in strategies that are actually going to help you get more leads, and get your offers in front of more people. So you can help more people. We want to do this efficiently. And we want to make sure that what you are putting your time and money and effort and bandwidth and energy behind is actually producing results. That is the goal here. Okay, so this is my whole lead up to telling you about why it’s a little bit irrelevant for you to listen to the rest of this episode. And what I’m going to be really unpacking which is what my experience was at the acquisition.com scaling workshop, exactly what we were talking about there, what my big takeaways were and then I have a big announcement coming for you as well, which is super fun. So here’s a little timeline little history lesson. If you’re new to me, and you wonder why I would be talking about getting leads online just to get you up to speed. I have been growing an online coaching business since 2015. And that is when I started my nutritional therapy practitioner training, and decided, holy cow, this has to be a business. Everybody in the world needs nutritional therapy in their life, they need to know about holistic nutrition, and I am going to bring it to them. Even though I had never done online business before I had been an entrepreneur for many years. But never in the online space. I didn’t even have a website before I had no idea how to do any of those things. But I quickly jumped in, I figured it out. And from 2015 to 2019. I grew my holistic nutrition practice online with all of the things it was very complicated. There were lots of complicated funnels and automations and courses, and memberships and email sequences and webinars. It was a lot, okay, there was a lot going on, there was a podcast that came and went very quickly in there. Basically, here’s what you need to know, it took me three years to break the 100k mark in my nutrition business because I was very scattered, I was spread way too thin. And I did not know that there was a much easier way. So in 2020, my husband and I sold our house, we hit the road in an RV with our two kids. And we decided to make an adventure of our lives. While the rest of the world was fighting about masks on Facebook, we completely unsubscribed from the experience. And we hit the road and had an adventure. So because I was finding myself now, with homeschooling kids and traveling a lot and not wanting to be stuck in an RV with a laptop very often, I radically changed my work priorities, my business model, my work hours, I was then working about 10 to 20 hours a week. And I had to simplify everything that was complicated in my business to accommodate my new schedule. At that point. This is 2020 I was running some ads on Facebook and Instagram profitably, I was growing my email list I was selling through email. And then lo and behold, because these are the things that happen in life in late 2020, Facebook shut down my ads account out of nowhere. And if I’m going to be completely honest, in a self righteous fit of rage, kind of kind of I mean, really, I deleted all of my personal and professional social media profiles and pages. And I said I’m out on social media, I’m done. It’s not happening anymore. I don’t like what’s going on here. I don’t like censorship. I don’t like any of it. I’m done. I’m out 2021 came. And I really streamline my business if we thought that I had streamlined it in 2020. When we started traveling full time, wow, 2021 I really pared things down to just one core offer, which is now what you would know as my signature program, the profitable nutritionist program that that program was born in 2021, where I streamlined all of my other offers into one really robust, comprehensive program. And that happened again, early 2021. I had zero social media. So that means I was marketing exclusively through email and word of mouth referrals. And then in late 2021 This podcast was born. And I really constrained my focus to email marketing and word of mouth and getting great referrals for the profitable nutritionist program until late 2021. That’s when I was at about 250k a year in in 12 month revenue. And I had made an agreement with myself that when we were at 250k in rolling 12 that means like in the last 12 months that is what my business had brought in that I would then launch the podcast so that’s what I did got it to that point launched this podcasts. And now this, of course, has been a great source of leads and marketing as well. But now let’s like stay on track, stay focused, Sandra 2021 to 2023 was a rinse and repeat of all of the things that had been working. Okay, so it was podcasting, email marketing, and getting great referrals from my clients who are getting amazing results. And we’re doing an excellent job of spreading the word. So rinse and repeat all of the things that were working, I then added a High Level Mastermind for my clients that were making at least $50,000 A year and had the intention and were well on their way to scaling to six and multiple, six figures a year. And they wanted to have a laid back profitable business model like mine. So I said, let’s go, let’s do the mastermind. And so from 2021, to 2023, it has been very, very simple. My marketing has been all through email, podcasts, word of mouth, there was no social media, there was no complications two offers, one of them is the profitable nutritionist program. And if you haven’t made 50k in your business, yet, you need to be in that program. And if you have made 50k In the last year, and you want to scale to a bigger business, then you gotta get in the mastermind. And that’s very simple. Okay, there’s two offers, there’s two ways to work with me. And that simplicity of that really has been the greatest gift I could give to myself over the last however many years, I’ve made almost $2 million from that model. It works great. My clients get great results in like I said, it’s extremely simple. Which is the key to success, in my opinion. Keep it simple. But in 2024, we’re on simplifying a little bit what I know, I know, I know. So in 2020 for this year, thus far, and we’re almost halfway through I guess by the time you get this episode, we’re over halfway through How is that even possible? My team, he and I are here at the profitable nutritionist are adding to what has been working very well for the last three plus years with email marketing. And that means when I say email marketing, I mean, I exclusively communicate with my potential clients and current clients through email. Now, of course, this podcast also is a great way to reach people. But I’m always giving a call to action on this podcast for a way for people to join my email list. So some sort of a free thing, whether it’s a free course, whether it is a free class, I’m teaching or other incentive, there’s a reason for you to go to the profitable nutritionist.com and get on our email list, because that is really the way that you’re going to get all the value that I have to offer. You’ll get notifications about any upcoming trainings, challenges, free classes, upcoming enrollments, for my programs, all of those things are happening via email. And that is what has been working very, very well my business. Of course, this podcast is also a way that people hear from me. And there are certainly people that listen to this podcast that aren’t on my email list. But I’m putting all of my time and attention and best content in my emails. So if I mean little shout out, if you’re not on the email list, you got to get on the email list. That’s where all of the best stuff is getting sent out every single week. Okay. So I said we were kind of re complicating things a little bit here and 2024. And I mean that in the best possible way. But this is really an adjustment to in response to I don’t know how we want to say that. But this is in response to just seeing really what has happened in the last year in the online marketing space. Because my team and I do take a lot of time and put a lot of attention into looking at data in our business, what’s working, what isn’t working what we want to do differently. And we are making decisions on what to do differently based on numbers. And I’m telling you, the numbers are showing us that things, especially in email marketing, are different, they’re performing differently than what the tried and true has been up to this point. So of course, like I said at the beginning, we’re iterating or testing some new things. And one of those things is running ads on social media, again, which has been a little bit hard to do since I didn’t even have social media profiles. Prior to 2024, we were completely off personally and professionally, I’ve been completely off of social media. So that’s a little bit of a change here. But I’m excited to talk to you about it. Because in all honesty, being able to run ads again on social media, and I’m going to do an entire episode about this coming up next week. And then in future weeks, I’m really kind of pulling apart this strategy or what this looks like in my business. So make sure you stay tuned for those episodes coming up for more specific stuff on ads. But I want to be very intentional to tell you that for me, this is a personal choice. I have no interest in producing content for social media, scrolling social media feeds. Personally, that is not a way that I want to spend my time I have found so much just benefit growth. whitespace happiness content, really, I think is the word in the last three years of having no social media in my life, and I intend to keep it that way. However, like I said, things are changing. There are adjustments that need to be made. And one of those for me is that I want to be able to run ads and I want to have a lead generation machine or Working 24/7 In my business, getting people onto my email list and getting them familiar with the resources that we have available here at the profitable nutritionists. So leads is the constraint of my business right now. That is the full focus for me and my team this year, leads, leads, leads, more leads getting in front of more eyeballs. And that’s probably the case for a lot of people that will be listening to this episode. So probably for you leads as a huge, a huge focus. I think for every business owner, that’s always going to be in either the forefront of our mind or the back of our mind. But we’re always thinking about how to get more leads more qualified leads, and how to talk to more people have more conversations with more humans on planet earth that need our help, right? That’s what I mean by a lead. So this is a great conversation for us to be having, of course, leads is the big constraint in my business right now, though, above other things, and there are times in your business where leads won’t be the only thing that you’re working on, it’ll still be like I said, something that you’re thinking about, and you’re considering how can I be having more conversations? How can more people be finding out about how I could help them, of course, but there are seasons where selling really is your focus, or where fulfilling a better process and better client experience to your clients is your focus or figuring out better systems and processes for you and for the back end of your business, or onboarding new team members and having other people get trained in your processes. And to delegate that way? Those are other initiatives that can be very, very important at certain times in your business, my business, any business, right? So let’s just know that we always have really one thing that should be the key focus and that we need to be putting time and attention into it happens right now that in my business leads is that thing. So it might be for you it might not be just know that that’s like ever evolving and having a very clear in your mind on what the actual focus is for you. What is the constraint of my business? What is the bottleneck that if I loosened this one particular bottleneck, it would really help every other area of my business. That’s what I mean by constraint. So for me right now, it’s leads. In other times, it’s other things and for you, it may or may not be leads right now. But since that is something that most of us are thinking about most of the time, this is a relevant conversation to be having at any point and to be thinking about at any point. All right, so that is a huge change here at the profitable nutritionist to 2024, we have business accounts set back up on Facebook, and Instagram, I have a personal profile on LinkedIn, that is the only personal profile that I have. We also have a business profile for the profitable nutritionist on LinkedIn. But the purpose for all of those business profiles on LinkedIn, Facebook, and Instagram is for the purpose of running ads, and for testing, some messaging and some ad copy and some new free offers. Little just aside is that running ads is a great way to test things because you can get an idea in front of a lot of people in a small amount of time and really compress the the timeframe for making decisions because you can get a lot of data really quickly, which I’ve really relieved sorely missed in the last few years of not running any ads and not having that capability. And of course, we could have added business profiles back for the profitable nutritionist, we could have been running ads sooner than now. But it wasn’t the priority. Now it is a priority. So now you’re seeing this is a benefit of having ads accounts, again, is that we’re able to test some messaging a lot faster and test some new ideas a lot faster. And honestly, this is a situation where do as I say not as I did do, I would advise my clients and I do advise my clients to run ads way sooner than I have. The only reason that I haven’t been is because they didn’t have the profile set up and I had other things that I was focusing on. And caveat to that is I had consistent clients and consistent leads coming in from other means. But a lot of my clients don’t and you listening to this may not have that right now, in which case, I would definitely recommend running ads way sooner than I have. You can spend time or you can spend money on anything in your business. I recommend at whenever possible spending money because you’re going to figure out your messaging faster, it’s going to compress that timeframe to get a lot of data and figure out what is resonating with people and what isn’t. So I’d really recommend spending money. We can always make more money, but we can’t get more time we can’t make more time. So just a little pro tip there do this a lot sooner than I have. And if you’ve been watching my business and wondering why don’t run ads, that is why
so let’s talk about it. Leads leads leads focus around here. The filter for every single thing that my team and I are doing over the next six months it has been for four part of this year but for the next six months and probably even longer in the business is this does it get us higher quality leads and more of them? If the answer is no to either of those that we just don’t do it. Every single thing every single idea, every single initiative every single project we are running through the filter of is this going to get us higher quality leads or more leads And it better be yes to both of them. Period. Otherwise, we’re not, we’re not prioritizing right now it’s going on the 2025 list. So what we do around here is we reevaluate our quarterly priorities. So every three months and three months from now, and then six months from now, in our quarterly meetings, we look at the data on our new lead systems, or any new thing that we’ve introduced in the business, and then we may decide that those systems are getting us the results that we want, in this case for the ads that we’re running. And we have a few other ways that we’re generating leads right now. We’re looking at, are we getting the volume that we want? Are we getting the quality that we want? How do we know if they’re quality? What are they engaging with content? Are they purchasing from us? Are they becoming clients? are they responding to emails, like when we ask to take a poll or do a survey, or sign up for another free thing? Are they engaging in that are are these the right people basically, are these people that want what we have to offer, that’s what we’re looking at and what we’re measuring, when we are evaluating if our leads, machines are working, so just so you know, that’s what my team and I do. That’s the data that we’re collecting. And that’s our process every three months, we are doing that. So for right now, it’ll be three months from now. And then six months after that, because for at least the next six months, leads and lead generation and creating systems and processes that are repeatable and automated around both of those things are what we are focusing on. So that brings me to the acquisition.com scaling workshop that I attended in April. Like I said, this was live in Las Vegas is hosted by Alex and Leila, her Mozi and their team, their team does a lot of the workshop. It was a two day event. I’ll tell you kind of how that went. But it I mean, it just was phenomenal. First of all, but I was very surprised at how much Alex and Leila actually were there and did some teaching, I thought it was all going to be delivered by their team to be honest, which I was also happy with because like I’m happy to learn from them as well. But it was really cool that Alex and Leila were there. It was at their actual company headquarters in Las Vegas. So they were working upstairs in their offices, and then they would pop down and do some teaching, do a little like that working. And then they were back up to work, it was great. There were at the one that I attended. And I don’t know if this would be different depending on which session you attend. If you ever want to do one of their scaling workshops, there were about 100 people there live from all over the world. And this was a pretty high level group, because one of the big criteria for qualifying to go to this workshop that was that you had to have 250,000 in profit, they measure that in a term called EBITA. But basically profit, your business has had $250,000 in profit in the last 12 months to attend the workshop. So relatively higher level group, lot of businesses that are a lot bigger than that, which was cool to learn from as well. But the purpose of the workshop is to make your business a sellable asset. So they call it a scaling workshop. And their definition of scaling is taking a big business and making it a really, really, really big business that is attractive and sellable. on the open market. What the heck does that even mean? Well, basically, it means that someone else or a different private equity company would potentially want to buy your business. And I don’t know that ever want to sell my business, but I love the thought process behind what would make a business sellable. And I’ve talked about this many times before. But I’ll just give my thoughts on that. Again, the common example here that is used. And this makes perfect sense to me because I have a background as a real estate broker is in renovating a house. So my husband and I have also purchased, renovated and sold 10 properties. We’ve moved a lot. So this is very, very front of mind to me. What the heck does selling business have to do with selling a house? Well, a lot of things. When you buy a house that you want to then improve by renovating it, make some improvements and sell it. There are two courses of action there. You could buy the house and renovate it right away and live in it in a beautiful renovated property that you someday sell. And that would be a great choice. Or you can do what many people do me included multiple times, which is to buy a house, spend years renovating it and always live in a half finished partially undone. Projects galore. A lifestyle that never feels like things are the way that they should be and it’s a little bit chaotic and messy and unfinished and projects going everywhere. And then right before you sell it you get all those projects done. You get it perfectly renovated. It finally looks and feels great. And you think oh well this is nice and I’m just going to sell it and never be able to enjoy this house that I renovate it. Like I said Ask me how I know this. I’ve done it many times and regretted it every single time. Same scenario applies to our businesses okay, we could have a business and operate in a business that is not efficient that has unfinished systems and lack of processes and is just generally on done or we can have a renovated business that operates really smoothly. That a little is highly profitable that other people are in charge of departments that maybe aren’t the departments that we, as the founder or business owner are particularly well skilled or like to service. And we have other people doing those things. So that’s a business, my friend, the renovated business that might be sellable, where there are systems and processes everywhere. And there are other people in charge of those systems and processes other than just one person. That is a sellable business. And that just like a renovated house that is beautiful, and finished, and decorated, and it would be sellable. Tomorrow is the house that I want to live in from this point forward. I also want to operate a business that would be sellable at any point. And that’s kind of a lofty goal, but thinking in the terms of what would an investor want to see in this business, because that’s also the kind of business that I want to operate. I want to have higher profits, I want to have more systems, I want to be making more money. I think you do too. So that’s what the scaling workshop with acquisition.com and with their team is all about. It’s talking about what are the factors that an investor would look at and investing in a business? And how can you whether you ever want to sell your business or not? Does it matter? How could you implement systems, processes and people to make it really efficient and make it into something that would someday be sellable, which is also going to make it much more enjoyable for you as the business owner? All right. So how do we do that? Well, we increase the value, and we decrease the risk of the company. So increase value, decrease risk. Now I’m going to go through my notes, because I have a lot of notes that I took over the two days of the workshop. And I’m gonna tell you what some of those were some of the big takeaways, because I think that they’re really valuable for any stage of business. Okay, here’s one of them. The first was that this was on the very front page of my notes, when I opened it up to tell you about it. This was the first thing, the best CEOs think more like investors than managers. I was like, Oh, that is so interesting. Because I remember the days of my business, when it was really simple. I didn’t have any team, I didn’t have anybody helping me, it was just me. And I was the manager of myself, I was the investor of my business, I was all of the things. And I remember those days, and there was a lot to be said for how simple it was. And they’re just getting that way. I mean, I certainly complicated my business in other ways that I wouldn’t recommend. But in that way, where it was just me making the decisions and executing it was pretty simple. But as my business has grown, and I have been able to delegate tasks that are not my favorite, or I’m not great at to other people and build a lean and profitable team over here, I can certainly see how it is important to think like an investor and not just a manager of people, because day to day, we could really get into the weeds on managing the projects, managing the people, and forgetting that our business is an asset. And what would it look like to think about that as an investor in this asset and not a manager of people? So that was that stood out to me? I think a big part of that. And something I wrote underneath that was focused on resource allocation, specifically, time and money. Where are we allocating time and money in the business? And then my words, there are who not how, which is also the title of a great book, if you don’t know.
So the business is allocating money towards leveraging other people’s time other whose so it doesn’t always have to be us doing all of the things. What I know, crazy, right, craziness more about that in a minute. The second thing that I had in my notes that was very worthy of talking about his what Alex calls the theory of constraints, and he talks about this on lots of podcast episodes, if you listen to his podcast, basically, it’s how to figure out the right problems to solve. It’s very simple. That’s very simple. I’m gonna rephrase that, because that just might have slipped through the cracks for you. And you might not have paid attention. But this is really, really important. The Theory of Constraints, how to figure out the right problems to solve, because there’s always problems we can be solving in our businesses. But is it actually the right problem? For me right now, like I said before, it’s leads, because knocking down that big domino right now will start a chain reaction making everything else easier and faster in my business. And I know that because I’m paying attention to a lot of data and a lot of numbers. But what is it for you? Is it leads it might be? Or is it sales? Is sales, a big constraint in your business right now? Do you actually have plenty of conversations going on with humans that could use your help, but they’re not converting into clients? If so, then sales might be the constraint in your business right now, in converting those leads into clients? Is it client delivery and retention? Maybe that is actually the problem that you should be solving right now? Are you having conversations, are you making sales, but then once they become your client, it’s an underwhelming experience for them. And you would know if that is the case, if they aren’t getting the results that they want to get or that you want them to get or if you aren’t getting a ton of referrals if either of those things are true, maybe client delivery and retention and increasing the value of your process and your onboarding and your activation period with your clients. Maybe that is actually the problem to be solving in your business right now. Perhaps it is that there’s no way that you could bring on a who in your business. Like, there’s no way that you could delegate anything, because you have no processes, you have no systems, everything exists in your head. And maybe like a lot of Google Sheets all hooked together, that only makes sense to you. If that is the case, then maybe that is the problem that needs to be solved right now, I would give a caveat there, like only solve that problem, though, if you’re making money, and your clients are getting results, otherwise, let’s not worry about that quite yet. But you can see what I’m saying here, let’s figure out the right problem to solve. I see a lot of my clients that are just solely in the headspace that they always need to be marketing, and that that’s always a problem to solve. And I said that a little bit earlier, we are kind of always thinking about having more conversations, making sure that we’re getting enough leads. But a lot of times people actually have plenty of leads. And that isn’t where their time and attention should be spent. So I’m always looking at okay, yes, great leads and marketing. Great. But is that actually the constraint right now? Or do you actually have plenty of leads at this moment, and something else is the constraint. So look at that, figure out the right problem to solve my next note to myself was all about increasing value. Remember, I said in the scaling workshop, the point was to teach us in that workshop, how an investor would be valuing a company, and then to address ways to increase that value and decrease the risk so that you can also enjoy operating in your company in the most renovated, comfortable, efficient way. Right. So increasing the value, this is my next note, make your offer sticky. Think like an investor make it faster, easier, more certain, or the way they want it. Those are my that’s my chicken scratch notes. So let’s unpack what the heck does that mean? First of all, increasing value in your offer, by making it sticky means that people don’t want to leave it, they want to keep consuming it. They want to have more of it. They want to stay customers and keep buying from you. So the second part of that was think like an investor? How do you make this offer sticky? Well, you can make it faster, meaning they get results faster. Let’s ask yourself, do a little inventory here on your offer? Could you make it faster? Could you I see clients all the time that think that they should have a longer offer? If they have a package of six months? For example, I’ll say, Well, why six months? Just curious? Well, because people are paying a lot of money for it. I want them to feel like they’re getting their money’s worth. Oh, is that something that we should be? Like? Is there is there a thought error there? And it could actually be more valuable for them? If you got them the same results they get in six months, but they got them faster? Can you think of how to do that? Because people offer speed, right? Make it faster? Think like an investor here with your offer and make it sticky? Could you make it easier? Could you make it easier or simpler in some way for them to get the results that they want? It’s a great question to be answering. Is there a way I could make this faster for them? Or easier? What would that look like? Brainstorm, press your brain here to really get some ideas, even if there are things you would never do, write it down. Just explore what would that look like? If they were going to get results? Easier? What would that look like? Or more certain? So this is really in regards to guaranteeing that they’re going to get the results? Is that possible? A lot of people will say no, we can’t make any guarantees about health and wellness. I beg to differ. I’ve done podcasts about that. But I’m not going to dig into it here. Okay, so you could go search past podcast episodes about guarantees. Really, what we’re looking at here is the person that is paying you money, this is your client feeling like their results that they want to get the dream outcome that they’re hoping for is certain? Or is more certain, how could that be? Is there a guarantee you could put in place? Is there a money back guarantee that if they do the work, that they will get the result? And I don’t know if the answer is yes for you. But I know for most people I work with it can be and for those that explore what that would look like they unlock a lot of money in their business. So I’m just gonna leave it there. And then lastly, the way that they want it in regards to your offer. So this again, this is my chicken scratch notes. But I said make your offer sticky. Think like an investor make it faster, easier, certain and the way they want it. So make your offer the way they want it, not necessarily the way you want it. What can that look like? Like maybe people want to meet with you one on one, but maybe they want to do it over the phone and not on Zoom? Make it the way that they want to find out what that looks like maybe they don’t want to meet with you one on one at all. Maybe they want to send you emails instead of meeting one on one. Maybe there’s just these are some examples that come to mind. But maybe there’s a completely different way that they want to get support from you. Look at making your offer the way that they want it so that it is stickier. That’s going to involve asking questions, sending surveys, getting feedback asking some questions, some open ended questions and finding out how you could better support your clients. And what is the way that they want it, we get so tunnel vision, and I’m totally guilty of this as well, we get so just in our way, like this is how it is this is how we’ve always done it, and remembering to pull back and recalibrate and ask Is this the way they want it? This is the way I’ve always done it. This is the way it’s always worked in the past. But is there a better way? And should we check in with that? I would say the answer for most of us most of the time is yes. So make it faster, make it easier, make it more certain for them, and make it the way that they want it. And then my next note underneath increasing value was the big lever to pull is increased prices plain and simple. So I remember all of the people talking about this, there were various members on their team, the acquisition.com team that were presenting, and as well, Alex did quite a bit on this and he just was very point blank is on lots of podcasts about it as well. If you listen to podcasts you have heard this, it’s like honestly, the you just got to make more money increase, increase your prices, if you’re whenever you’re in doubt about what I should be doing right now. Just increase prices, plain and simple. That’s very much in alignment with what I teach and what I believe as well. So I obviously wrote that down because just straight confirmation bias profit.
So number four, decrease risk. Remember, we’re increasing the value of the company and we’re decreasing the risk. If we’re thinking like an investor, what would risk be to an investor? Well, there’s five different kinds that that we talked through during the scaling workshop. And this is just really thought provoking to me might be to you as well, obviously, that’s why I took a lot of notes on it. So the first risk is called key man risk, I’m gonna explain that in a second. Second risk is key customer risk, then there’s single channel risk, market risk and data risk. I think that just listening to what I’m about to say, and thinking about this for yourself, whether or not you have any desire to scale your business, or even if you’re at the beginning, who cares? It’s good to know that these are things to think about your subconscious mind will be just kind of chewing away at these. So key man risk is you as the founder or any one person in your company. But for those of us. For most of us, it would be ourselves as the founder being this person. Being the Rainmaker, basically, if we like this one person, but it’s probably you, it’s definitely me. If we were removed from the business, things would fall apart. Because we are the face of the business, we are the person delivering the product, we are the person doing the marketing, we are the person doing the selling, whatever that is, there’s a lot of risk associated with one person being the Rainmaker in the business. So that’s what key man risk is. And any way that we can be reducing that makes a company less risky, also makes our enjoyment in our experience in our company more enjoyable and less risky. So something to think about right? Key customer risk is the second risk. And that means that all of or a majority, it doesn’t have to be all but a majority of the revenue in the business comes from one single customer. Okay, that might be true for you? If so, it’s a little risky, how can we look at spreading it out having more customers, and if we just one of those were to disappear, like all of the revenue wouldn’t be gone? Basically, that’s the risk that we’re mitigating here is having one like all of the revenue or a lot of the revenue, majority of it be coming from one source. Same thing, marketing wise, with a single channel risk are all leads coming from one place, one, marketing channel, one platform, one type of marketing, is it all coming from one place? And if that were to disappear, would that significantly impact your business, I talk a lot about social media being really risky. Because you have no and I have no control over those platforms, they can get deactivated and disappear literally overnight, which we see a lot happen, especially in the health and wellness industry, where people talk about controversial stuff sometimes or things that shouldn’t be controversial at all, but are categorized that way. We’ll just leave it at that. But that’s a single channel risk, if all leads all marketing, or the majority of it is coming from one channel or one platform that’s risky, for a lot of different reasons. The fourth risk is market risk, are you in a market that is has a high likelihood that it could be disrupted, especially by AI? That is something we have to be thinking about these days. And that would be a risky market. I cannot imagine anybody listening to this podcast that would really be in too much danger of that. So I would say that’s not something that we probably need to think about. Because people are going to need to get healthier, they’re going to need other people to help them do that. Regardless of what the robots are doing. Okay. Data risk is the fifth one and this is really an interesting chain of thoughts and kind of just good thought exercise. Data risk as they would explain it at the scaling workshop is not having clear data about it like having clear financials not having clear data. about what happens with your customers from them not knowing you at all, being completely cold, we would call it like they have no idea who you are or what you do, all the way to the point where they have been introduced to you, they have bought from you, you have served them in some way you’ve delivered the your, your process to them your service your product, and either they have continued to buy from you or they’ve been off boarded as a client, if there’s no data about how much it costs, like, what’s the How much does it cost to get that customer? What are the different data points and metrics? And this I’m trying to give examples, but I think I’ll just give you the broad overview. And you can you can figure it out for yourself? Where are the data points that could be missing in your business about how quickly people get results? The proportion of people that get results? If they do X thing? Are they more likely to get the y result? What does that look like? How much money are you actually making? There’s a lot of financial data that we as business owners are usually not compiling on a regular basis. That would be very good to know so that we can make better decisions about where to allocate funds in the business, specifically around how much does it cost to acquire a customer, how much does it cost to fulfill products and services to that customer, which is something that we’re going to be talking about next. That was my next note. And that is really knowing your numbers. And basically two big initiatives always for every business. Two things, we always want to be looking at decreasing the cost to acquire a customer and increasing the customer lifetime value. And I say that, again, decreasing the CAC which is cost to acquire customer and increasing the LTV, which is the customer lifetime value, the amount of money that that person spends with your company over the lifetime of them being a client or a customer. Okay, so those are two things to always be looking at. Making it less expensive to get a customer and having that customer spend more with you over the lifetime that they are in contact with your business. Why that is important in context to the data that we just talked about is if we don’t know those numbers, if we don’t even know a starting point, it’s very hard to make decisions about where to allocate funds in the business to make those numbers better. What are they? How much should you be spending on marketing? How much should you be spending on client fulfillment? How much should you be spent, like what should your margins actually be if we don’t have any of the baselines and we’re not tracking those numbers is really hard to make high level decisions later on about where we could allocate some of those resources. So depending on where you are at your business right now, maybe this isn’t the highest priority. However, I would argue and I always tell my clients in the profitable nutritionists program, let’s just start tracking. If all we do is track the money coming in, and the expenses going out, and you know what those numbers are, then we can do a lot with it later. But we have to start even when the numbers are zero, or $100, the first month, that’s a good time to start because then you are building that habit and you have a system in place of where to track it. So let’s just start tracking anything that gets measured gets improved. So when I was thinking about how to talk about data risk, and talking about money, and talking about those types of metrics, in this episode, I just made a little note to myself to remind all of us have that anything measured gets improved. So start measuring, start collecting some data, even if it isn’t all the comprehensive data that you’ll want to have forever. Because of course, that is a work in progress for all of us forever, as business owners starting somewhere is super important. My next note was that it has to be tracked. So this, like I just said, like we have to start somewhere, we have to start actually looking at these numbers. But then we have to keep track of them in a place where we can see the trends over time. This is addressing the data risk, this is addressing those two big initiatives of trying to decrease the cost to acquire customer and increasing the customer lifetime value, we have to know what those are. But then we have to see how they go up and down over time. In an easy to read place like a simple spreadsheet here, simple Google sheet will get you really really far, this does not have to be complicated. We have to be tracking. And we have to have a system around that. So even like I said, even if it’s $100 a month right now that you are tracking, get in that habit and just start doing it because I guarantee and I’ve seen it so often that those numbers will go up a heck of a lot faster if you’re paying attention to it, and you’re tracking it. All right. Lastly, in my notes I have from one of Alex’s presentations, which I have heard him say over and over on his podcast. So I think I can like speak freely here and tell you this 80% gross margins are a great place to shoot for for service based businesses. He says they look for 80% gross margins, meaning that most of us need this to go up our profit percentages. Okay, it’s good to have a goal again, you have to be measuring to see where you’re at. And it’s great to have numbers to shoot for I have my clients shoot for at least 50% profit when they start tracking which includes all their expenses, and then we increase from there but he likes 80% gross margins for service based businesses. Then the second thing that I have written down as a reminder from one of his presentations, was the framework of more better new And this is how they approach all constraints. He’s done lots of podcast episodes on this. It’s in his books. But he really reiterated, like, how do we solve problems in the business? First of all, we make sure that we’re solving the right problem, which is identifying what the constraint is. And then we look at how can we just do more of what’s already working? So that’s more, the more better New, More, how can I do more of what’s already working? And then and only then after they’ve done more, or figured out how they could do more? Do they look at how can we do what we’re already doing? And do it better? Second part, they’re more better new second part here is better. So that’s after just doing more of it, like, let’s keep this really simple, just do more of what’s already working, then how can we do it better? And last, and very rarely do we need to do something new? This is different than what a lot of us in business want to do, which is something new. When things are when we identify a constraint or something isn’t working the way we want it to, we want to go to New, we’re like, okay, scrap all of that. It’s terrible. None of that worked. Let’s start over. Which is why so many people don’t stay in business, ultimately, because they burn out. And they’re not looking at data to figure out how can we just do more of this, and how can we just do it a little bit better, instead of starting over and doing something new. So the temptation I see with a lot of people is to want to do a new offer, or a new funnel, or a new I mean, who even new website, whatever it might be minute that is so real, that temptation is so real, our brains love new, we love to start over from scratch, because the possibilities are endless, it feels so much better. It’s very familiar to be starting over from scratch. And it’s less familiar and less comfortable to iterate on the boring thing that is that we’re already doing. Honestly, that is, that’s what it boils down to, for a lot of us is needing to just keep doing the thing that we’re already doing, and do more of it and do it better. And that’s just not as sexy a lot of the time. That’s why constraining our focus and having a coaching container, or a mastermind as business owners that we put ourselves in is so vital, because others on the outside our coaches, our peers, can help remind us of that when we’re tempted to start something new, instead of just doing the boring work of doing more and doing it better. We have other people that get that temptation that can see it. So clearly, when we’re we’re just starting to detour off course and can say, no, no, get back on track, what are you doing? What are you doing, you’re trying to do something new here, that is not going to get you the results that you want. So that was a great reminder, that’s the extent of my notes that I want to read the rest of the workshop, and it was so meaty. But the rest of the workshop really was proprietary stuff from their team, they have their whole team internal team there as different subject matter experts. So I’m not going to read the rest of my notes, because those were pretty proprietary, I wouldn’t want to give anything away. And that was like that’s kind of their secret sauce. But I will say that if you’re considering going to an acquisition.com live in person workshop, if you meet the criteria of having at least 250k in profit in the last 12 months, I would highly recommend doing it the q&a with their team, which there was a lot of was absolutely priceless. It was it was great, highly recommend going. In fact, it was so valuable that I invested in continuing with two more in person deep dives with their team in Las Vegas. I’m going back to Las Vegas two more times this year to get their help specifically in my leads and new client generation new leads initiatives because like I said earlier that tech and the systems and the just the whole sphere of online marketing is changing so fast right now I want to be in the front row learning from their team, because their team has a whole portfolio of companies and they are overseeing over $100 million, just in ad spend a year in all those portfolio companies. So I want to be able to pick their brain and get all of my questions answered there so that I know that we are solving the right problems over here, and also staying on top of just best practices and things, things to do and not to do. So you may be wondering, why does that matter to you? Well, it said that there was an invitation coming your way in a big announcement to learn this stuff along with me. And here’s what it is. In August, I am opening enrollment to my streamline and scale mastermind with some pretty significant upgrades. Now the mastermind has been around for several years, but it is getting a whole mommy makeover. Like all of it, all of the things are getting upgraded. For when we start in September on the next round, including full access to all of the marketing and ads and lead acquisition strategies that my team and I are putting into place along with the help of Alex and Leila team at the new events that I’m going to be going to the rest of the year. So the mastermind is where I will be talking very candidly about what those are. The mastermind is very process and systems oriented. I think I said this earlier, but I should tell you what that means. So there are templates and copy paste systems that you can apply to your business immediately as a benefit of being part of that group. My team and I share very openly with what we are doing and how we’re doing it so that people in that group can just take our systems and processes and apply them to their business or they can have their teams and they’re also taking those systems and processes and applying them to their business. That is just one of the many components of the mastermind. But I’m going to be a little mysterious here about the rest of the upgrades that we’ve made for the next round. Again, that starts in September. Some of those secrets aren’t getting let out of the bag quite yet. But what I can tell you is this, we are starting the next round of the mastermind in September 2024. You have to apply and be accepted when enrollment opens up in August to get in for the September round. So to get all of the details about the enrollment dates in August, the criteria to apply for the mastermind, how to know if that would be a good fit for your business. How to know if you would be a good fit for that room all the rest of the fine print that you need to know about the mastermind enrollment coming up in August, you will get when you are on the waitlist, you will get them sent to you via email over the coming weeks. Remember, all of the most important information around here gets sent via email, so you have to be getting the emails. So get yourself on the waitlist. If this is at all has bells ringing for you, you’re getting that little intuitive nudge that you need to be paying attention get on the waitlist for the mastermind at the profitable nutritionist.com/mastermind. And if you’re listening to this episode in the future, you can always get on the waitlist there. And then you’ll get emails about the next upcoming enrollment. But for right now, if you’re listening in real time, that next enrollment and application period will be in August for a start in September for the next round. And there you have it. This is my experience my little recap with Alex and Leila Hermoza scaling workshop in Las Vegas, and with their awesome team@acquisition.com which was top freakin notch by the way. Yeah, so much so that I paid a handsome chunk to continue working with them for the rest of the year to upgrade our marketing and lead systems, and a lot of that with paid ads. So you’re gonna hear a lot coming up about the paid ad systems that we’re putting into place and the different things that we’re doing. Like I said, I have lots of episodes coming up about that. But if you want to come alongside me and get a front row seat and be able to ask a lot of in depth q&a in a small group format about those exact strategies and processes. You have to get on the waitlist for the upcoming enrollment into the streamline and scale mastermind because that is where we do that and you’d get on the waitlist at the profitable nutritionist.com/mastermind. Again, applications and enrollment for the next round of the mastermind opened in August for September start date. You don’t want to miss out we have made some big upgrades have lots to share about how that experience is quite industry changing. You’re gonna hear all about that in the coming weeks if you’re on the waitlist, again, the profitable nutritionists.com/mastermind And until then my friend, go get some leads.
How’s that as like a call to action to leave you with go get some leads, and then let’s talk all about it. See you next week.
