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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Unsolicited comments from two fellow entrepreneurs on Monday sealed the deal for me.

Erin Huggins said, “I’ve been in business 15 years and I’ve never heard of some of this stuff you teach.”

Mia Redrick, The Mom Strategist® is another grizzled entrepreneur who summed it up in one word: “Substantive.”

They were referring to the videos that I create for you and other small business owners about how to design your business model, position yourself as a thought leader, create marketing strategy and how to sell.

YouTube Channel

I spend several hours each week developing content that’s relevant to service-oriented entrepreneurs. All in the spirit of making sense of business – so you can enjoy your life.

If you’ve missed out lately, I’m using this week to get you back in the saddle before I release more content for you.

You can find a few favorites on my YouTube channel:

The secret nuance to closing more sales with integrity 

The secret to articulate your true benefits 

5 keys to avoid hairy business problems  

And I’m going to be doing more and more video subscribe to my YouTube channel while you’re there. That way won’t miss the next couple of videos I’m creating specifically for service-based entrepreneurs about business model and sales strategy.

In the coming weeks, I’ll be talking about:

  • Overcoming Sales Objections
  • Business Model. The Biggest Mistake Small Business Owners Make.

And if you have ideas for topics you want me to cover, leave it in the Comments below and I’ll do my best to accommodate you!

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It happened again.

During a Money Momentum session with a new client, I asked how her clients benefit from working with her.

And with all the love and respect I have for her, here’s what I heard…

Blah blah

And she’s no exception. I’m even guilty of it when I get really lazy. Or am in a hurry to bang something out.

Darlings, (I’m talking to myself too 🙂 you MUST be able to articulate the benefits your deliver so that your clients understand your amazing value!

And quite frankly, what you think it is, usually isn’t what it REALLY is.

Don’t make them do all the hard work and try to piece it together or they’ll never buy from you. Well, hardly ever. Even a blind squirrel finds a nut.

I shot a short video for you to tell you my simple, but not always easy trick for NAILING your benefits.

Do it. And keep at it. I promise you it’ll pay off.

Click below to watch the video… And then post a Comment to tell me the benefits of working with YOU!

 

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Oh, so young!

Oh, so young!

In my early 20s, my boss struck a deal for me to travel withAnthony Robbins’ team to all of his one-day events.

At first, I was in awe of his sheer size. Inspired by his message of personal power. Intrigued by the groupies.

I watched how Tony’s sales teams sold out his events in 3 different cities every six weeks. Created a frenzy. And did back of the room sales.

The guy clearly had the whole money making thing figured out.

In hindsight, what fascinates me most are the different paths Tony and my boss took after their days of working together selling Jim Rohn seminars in the 70s.

Tony wrote books, created info products and held seminars and retreats all over the world. My boss tried to build a business on one product with low margins without the sales volume to make it profitable.

Tony’s “power move” was to pound his chest. My boss’ “power move” was to rob Peter to pay Paul.

Tony earned millions. My boss was lucky to pay his mortgage two months in a row. Or pay me, for that matter.

When I work with clients today, I now realize how much I draw on what I learned from that experience.

There’s a huge divide between intentionally creating a business model that’s true to you, versus struggling and making things harder than they need to be.

And it’s something every entrepreneur gets to choose for himself. Or herself 🙂

I’ve done it both ways. And in hindsight, I can unequivocally tell you that getting intentional about what I wanted my business to do for ME and MY life has been the difference between my successes and failures.

If you want the tool that I use to do that, you can grab it here for free:

http://thebiztruth.com/4D

Lucky us that we have a choice in how we decide to do business!

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When you’re having a sales conversation, you may already know to focus on benefits, not features. And you may also know to ask questions to engage potential clients.

What you may not know is how to combine these two things to close more sales.

Watch today’s video for my approach that nets more clients for my clients.

I want to hear from you. When you apply this in your sales conversations, how did it work? How did it change the energy of your conversation? And how did it change the result?

When we gather for the true. event in NYC on November 7, this is one of the things we’ll be addressing so that it’s part of your true. plan for selling more of a program, package or service you love.

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In my last video, I addressed the issue of HOW entrepreneurs (myself included) have squandered money on things that don’t make sense for where we are in the entrepreneurial evolution.

Today’s video walks you through a simple way to assess WHY you make those decisions. No shame. No judgement.

Eye opening, indeed.

Be absolutely sure to grab the free downloadable Money Review while you watch this short video to help you STOP the craziness.

NOTE: And for a limited time, you’ll also get free access to my 4-step program that shows you how to do Your Business, Your Way – when you download the Money Review.

 

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While I was going through my guru phase, I was the Queen of Making Poor Money Decisions. I squandered tens of thousands of dollars on stuff that didn’t make sense. It drained me emotionally and financially.

And I know I’m not alone. Odds are high you regret a decision or two. Or twenty?

This video shares my perspective on how and why entrepreneurs waste so much money – and what to do about it.

Stick with it. It’s worth it!

Yes, there’s more. Watch the assessment video and free downloadable Money Review. Eye opening, indeed.

 

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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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Remember as a kid how joyful and carefree you used to be?Life was a cinch. You woke up, played, ate, played some more and went to bed. The next day was the start of another new and exciting adventure.

It wasn’t hard.

Why can’t your business feel as fun and simple as that?

Why, even though you’re working your ass off and making investments in your growth, do you feel like you’re barely an inch closer to enjoying the results you’d hoped for by now?

Why are you working overtime instead of enjoying quality time?

Why does it feel so haaaaaaarrrrd some days?

Wouldn’t it be AMAZING if there was a way to do business that’s actually as much fun as you imagined it would be when you started your venture?

Wouldn’t it be WONDERFUL if you found a way to grow your business, your way instead of trying to fit into someone else’s little box?

Wouldn’t it be FANTASTIC if you made money doing what you love?

Well, there is a way to do…

Biz Happier, Not Harder 

If you are not as happy as you’d like to be in your business, drop everything to join us for this eye-opening webinar to understand how you can….

Biz Happier

 

The five essential keys to infuse fun, flow and profit into your service business
(so you can stop working so damn hard!)

 

By attending this webinar, you’ll understand the five main levers you need to pull (and when) in your entrepreneurial evolution so you biz happier, live happier and create long-lasting success.

Join us Tuesday, August 5 at 1pm EST to learn: 
  • Why mimicking others’ businesses is forcing you to work overtime and the 4 Ds that will create your 6- or 7-figure business model
  • Why attempting all of the alluring marketing tactics will send you to Crazy Town and the shortcut to create profits 2-3 times as fast
  • The one simple shift that allows you to love (or loathe less) your #1 business building activity
  • How to kick mind trash to the curb and create more opportunities in your life and your business by harnessing something you already possess
  • How to position yourself so that your market pays attention to you and their only choice is not IF… but WHEN they’ll buy from you!

And finally… you’ll discover the critical decision point that will determine whether your business flies or fails.

Knowing this will help you stop working overtime. Do more of the stuff you like and less of the stuff you don’t. And actually have FUN in your business!

Here’s the deal: Business is a blast when you get it right. When you know the keys to what works for you. Rather than suffering with something that isn’t true to you.

So reserve your spot for this webinar. Now!

Biz Happier, Not Harder 

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How about some inspiration combined with a chance to win a neat-o prize simply by exercising your creativity?

It’s easy, fun and free.

  1. ManifestoDownload my Manifesto (shown to your right) at thebiztruth.com/manifesto. Simply scroll over the toolbar in the lower right corner and click the “save” or “print” icon on the far right. No opt-in is necessary.

  2. Do something creative with it. Wallpaper your office with it. Lick it. Wear it. Rap it. I’m sure you have better ideas. Surprise us!

  3. Post a photo or video of your creative use of the Manifesto to your Facebook page by Friday, August 15. Be sure to tag me http://facebook.com/carolynherfurth* so we note your entry. 

We’ll toss your name in the hat for your chance to win the real McCoy on canvas ($100 value) to hang on your wall. Or put under your pillow. Or use as a really big coaster. The choice is yours.

I can’t wait to see what you come up with. Have fun!

Carolyn

 

 

 

* If we’re not Facebook friends, please send a message along with your request so that I know to accept you (because I don’t accept just any ol’ friend request!)

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