Burning Money

Before I started my Guru Detox a few years back, I found myself sitting in California at yet another pitch fest with 250 of my fellow entrepreneurs.

I felt so lucky to have gotten a VIP ticket for only $147 for this 3-day event. What a steal!

In hindsight, I know that the stealing had already begun.

I had just moved to New York City a few weeks before. I was exhausted. And jet lagged.

And disappointed by a $13,000 letdown I had with the event host a few weeks earlier. (Remind me to tell you about that another time. Aye!)

I took a LOT of notes over those three days. There was a lot of good info, although a bit confusing because it was presented in a way that was hard to make sense of how it all fit together.

And I met some really cool people. A guy from the UK who knows a thing or two about evolutionary psychology. A woman who’s become a business celebrity since we met. And a colleague I was excited to finally meet in person.

After the offer was made for the host’s $25,000 MasterMind and the appropriate amount of time had passed to swoop up as many sales as possible (I’ll tell you about the Guru Event Formula someday too), there were a series of guest speakers who did 90-minute talks and made a pitch for a program they were offering.

And

I found myself

in a trance

in the back of the room

pulling out my

credit card

to buy a

$1500 program

that I have never used.

I may as well have burned the money.

And the story doesn’t end there.

I bought a $1000 program that weekend too.

Which I did implement about a year later. It brought in no additional revenue over previous launches. And demolished my relationship with my community in a matter of 4 weeks. More on that another time. Sigh.

You might have done the math and wonder why I didn’t name this “my $2,647-plus-travel-and-hotel mistake?”

Hell, we could call it my $17,500 mistake. My $500 mistake. My $10K mistake. Take your pick.

It’s because I knew the event would be carefully designed for me to buy stuff. And I had no business spending a dime on a DIY program that wouldn’t immediately generate sales for me. And I mean PRONTO because I had just moved to a city that doubled my cost of living!

What can you learn from my mistakes?

1. Know the game going in. 

Most (not all) events are designed to sell you something. If you justify that the cheap-o event is a networking and learning opportunity, but you walk away without a new client or an actionable plan to make money in your business without having to spend more money, was it really worth your time?

I don’t need to tell you that it’s not okay to not make money in your business. Or do I?

2. Tune in to how you learn best. 

That program sitting on my shelf might have saved me tens of thousands of dollars or rescued me from certain doom if I could only get myself to implement it. But. I. Hate. Self. Study. Programs. I don’t buy them anymore because I recognize I’m a people person and I want direct access to the coach or creator of the program. Give it to me live, baby!

3. Own your decisions. 

Was it their fault I bought their stuff and bombed it? Hell no! Bravo that they can sell so effectively from the stage!

Was it my fault I bought their stuff? Abso-flipping-lutely.

Learning from other people’s mistakes is a LOT less expensive – so if I can open your eyes in a way that keeps you from screwing up royally like I have along the way – I can live with my mistakes.

🙂

If’ you have a limited budget and learn best in an interactive environment, check out the one-day, pitch-free true. event on November 7 in NYC. We’ll create an actionable plan for you to sell more of a program, package or service you currently (or want) to offer. Let’s rebuild that nest egg, Sister. Save your seat here:  http://thetrueevent.com

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We spent last Tuesday morning on my patio shooting some video to announce my live event coming to NYC this fall. I thought you’d enjoy behind-the-scenes blooper reel that my video guys put together from our shoot.

If there’s one thing that’s present in everything I do, it’s having fun. Since fun is my #1 value, it shows up naturally in everything I do – whether I’m working with a client, colleague or vendor. You’ll see that in the 25-second clip below.

Stay tuned for the “real reel” when early bird tickets go on sale in a few weeks. In the meantime, put yourself on the wait list so you’ll be in the know before everyone else.

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So many entrepreneurs I meet are out to change the world.

And more often than not, we need to change our own world – and our own minds – before we can change anyone else’s world.

This was one of the many lessons I took from seeing 6-time Tony award winning, Broadway musical Kinky Boots earlier this week.

The show was about a guy who took over the family shoe factory and had to reinvent how they do business in order to continue providing jobs and stay afloat. It required him to take big risks to see it through.

(Give me music, crazy costumes AND a storyline around pushing the limits in business? I’m in heaven!)

My all time favorite takeaway was a line from the last song,

You change the world when you change your mind.

We have so many options for how we can approach life. Which of these do you choose?

Do you choose fear… or love?
Do you choose misery… or joy?
Do you choose desperation… or calm?
Do you choose victimhood… or victory?
Do you choose scarcity… or abundance?
Do you choose self-doubt… or self-trust?
Do you choose to isolate… or collaborate?
Do you choose judgement… or acceptance?
Do you choose persecution… or compassion?
Do you choose to make promises… or follow through?
Do you choose to fool yourself… or be real?
Do you choose self-loathing… or self-love?
Do you choose to retreat… or advance?
Do you choose criticism… or creation?
Do you choose to shrink… or grow?
Do you choose to wait… or dare?
Do you choose to think… or do?
Do you choose lies… or truth?

You change the world when you change your mind.

If you had to change one thing from the list above, which would have the greatest impact on changing your mind… and in turn, the world around you?

I’ve chosen to be more accepting and less judgmental.

Please join me by changing your mind around one thing. Share it in the Comments, if you’re so inclined.

And let’s watch how it changes us. And in turn, how it changes our world.

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Life is short and business can be tricky.  

Not so long ago, I was in a meeting with about a dozen of my peers and everyone around me was talking about how great things are in their lives and businesses. 

Kumba-frickin’-ya.

When it was my turn to speak I said, “I dare entrepreneurs to live their truth, but I don’t feel like I’m fully living mine.”

You see, I’d spent much of three years working to master the secrets to success in the online world so that I could make millions while I sleep. I had some wins, but never felt like I really connected with people using these tactics because they didn’t feel true to me.

For example, earlier this year I followed a big-name guru’s blueprint for doing a launch and it was a disaster. I didn’t increase enrollments over past launches, and what’s worse is that I burned my relationship with my online community. In fact, my open rates are now HALF of what they were before I followed her advice. (Please forgive me for the error of my ways!) I knew her system didn’t feel right, but promised myself to follow it to the letter because it works for her. BIG mistake. 

The truth is that I’m an accelerator. An activator. An artisan. 

And I haven’t found an authentic way for those things to translate online. (At least not using other people’s methods.)

The truth is what really feeds me is giving others my full, undivided attention through conversation.

Not copy or complicated email campaigns. 

Yes, good old fashioned conversation. 

The truth is that I’ll continue to use the internet and email as tools to teach, start conversation and spread the word. But the greatest impact I have on entrepreneurs is listening… really listening to what’s going on and helping you find solutions to your problems. 

As an entrepreneur, you must find and live YOUR truth. 

Don’t let anyone shoehorn you into doing something that’s “proven” to work if it doesn’t feel true to you.

Here’s the catch… 

The critical distinction is knowing the difference between your truth and your fear. 

Your truth is what’s deep inside of you. A knowing.

Fear is your ego playing games with you and your truth. It can force you to hide behind excuses.

When you’re resistant to doing something, go deep within yourself to distinguish what’s stopping you. Are you fearful of trying something new? Failure? Success? Looking bad? Or do you have a knowing that’s inside of you… that this action doesn’t support you and your people.

If it’s fear, go take the action. (We’ve all heard the famous quote, “Feel the fear and do it anyway.”)

If it’s the knowing, then follow your truth.

The truth is that pure magic happens when I connect through conversation with entrepreneurs because as an activator, accelerator and artisan… I’m able to inspire, motivate and problem-solve in ways that can’t happen in a mass email campaign. 

Dare to find and live your truth.

What’s your truth?

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Hope isn’t a business strategy. 

As an entrepreneur, your success isn’t guaranteed.

Unfortunately, far too many people cheat themselves out of success by taking chances with their time, money and opportunities. They do this by patching together a series of well-intentioned advice and “hope” it all works out in the end.

To vastly improve your odds for enjoying success, you must establish these 6 keys to grow your business with confidence: 

1. A sound, simple business model. You’ll get stuck and struggle needlessly until you package and price your services to support your clients AND you every step of the way.

2. A point of view. You can be a thought leader or a follower. Which do you think potential clients value most?

3. A marketing strategy. Based on your business model and what (and who) you stand for, what are the BEST ways for you to elevate your profile to attract clients? 

4. A sales strategy. I know you hate this part, but without it, you’ll never have a successful business. The good news is there are ways for you to get clients without the dread you probably feel now. 

5. The ability to identify and manage priorities. Far too many entrepreneurs admit to chasing far too many shiny objects, only to abandon them to chase the next shiny object. Knowing your priorities allows you to pursue what matters most.

6. Money management. This is my least favorite (to my retired banker dad’s chagrin). I love to make it and I love to spend it, but I don’t like to manage it. It is, however, a key to improving your profitability.

Once you have these building blocks in place, the odds that your venture will succeed are far greater than skipping past these steps.

If you’re an entrepreneur who started a business based on your desire to serve others in a big way, but don’t necessarily know the ropes when it comes to creating business success and would like to learn from someone who’s played a hand in the launch of over 100 businesses, I encourage you to visit us here.

Dare to CHART, not chance your success.

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Mistakes are inevitable.

A common refrain among many of the entrepreneurs is, “I can’t afford to make a mistake.”

I wholeheartedly disagree!

The reality is that you can’t NOT afford to make mistakes.

Sure, it sounds logical when you consider that money is tight, time is at a premium and morale is waning.

What do mistakes really tell you?

Mistakes are our turn signals. They’re indicators that we need to change course. If you take action and learn from your mistakes – you’ll get to your destination more quickly.

The alternative is to allow your fear of making mistakes to paralyze you. 

What gets done when you’re not taking action?

Nothing.

Worse yet, you backslide because you feel so awful about not making forward progress.

What’s the worst that can happen if you make a mistake?

You have to answer this one for yourself. 

I can tell you that in my 10+ years as an entrepreneur, I’ve never come up with an awful enough reason to stop me from taking a leap of faith on a decision – big or small. And believe it or not, one of my worst-that-can-happen-scenarios was that I might have to sleep on a park bench if I couldn’t make it in NYC! 

Start with small things (send the email, pick up the phone, ask for an intro, submit a speaker proposal) and the bigger actions will become easier (hosting your own event, launching a bigger program, moving to Thailand).

So take a breath. Don’t belabor the decision. And take action.

Dare to do.

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The truth is…fear makes you do some irrational, desperate things that ultimately sabotage your growth.

The business isn’t running on all cylinders. People aren’t lining up to hire us. Things feel off-kilter.

Low on time, money and patience…we begin to panic. And left unchecked, that fear drives irrational decisions. I know it sure has for me. It robs you of your creativity and joy. It stirs up an air of desperation that drives your prospects away.

You deserve better! 

Tune into how your fears color your actions and decisions – from how you approach your day, your prospects, your business, your clients, your life.

Is fear in charge of you? Or are you in charge of fear?

And the next time you’re faced with a decision, ask yourself if you’re making it from a place of wonder, curiosity and creativity… or a place of fear.

Dare to grab fear by the throat!

What’s your Truth & Dare on this topic? Comment below.

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Have you ever been “tricked” into buying something that you didn’t want or need?

If so, you’ll relate to today’s video about PIMPS Culprit #3.

I share how those experiences factor into your relationship with selling and what an insidious role it plays (without us even really realizing it) when it comes to offering your own services:

If you’ve missed the first two videos about P.I.M.P.S., you can link to them here:

Culprit #1 – http://www.thebiztruth.com/mindset/5-reasons-you-resist-selling/

Culprit #2 – http://www.thebiztruth.com/mindset/sales-resistance-culprit-2/

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There are five reasons entrepreneurs don’t jump out of bed each morning EXCITED to get out there and sell their services.

The reason it’s so important for you to understand these five culprits is because sales are the lifeblood of your business and if it’s an activity you resist, it’s tough for your biz to grow.

This video addresses the second reason. This one has to do with everyday influences that impact our perception of what selling is all about.

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If you dread, avoid, and/or completely resist selling – there’s a reason behind it. Five potential reasons, actually.

These culprits are so pervasive with the thousands of entrepreneurs I’ve dealt with over the past decade that I put together this free video series for you. It lays out what the 5 things are, along with practical advice for what you can do about each one.

This video lays out the first reason for you. Be sure to check back for the other reasons each week. I welcome your Comments and encourage you to share with any of your friends who might be experiencing a case of sales dread.

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