Episode Transcript
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Nik Setting (00:00):
How old are you?
I'm 21.
And how much money do you makea month?
I make $170,000 in profit.
How?
If you don't have peoplecopying you, then I don't assume
you're doing something special.
The type of client you attractreflects on everything.
The better clients you attract,the better marketing you have
to attract better clients.
The biggest problems areinternally, because that's what
reflects on your business allthe time.
(00:21):
So I feel like the biggestthing that I can improve on is I
also disagree with thestandpoint of saying like the
more you work doesn't mean themore money you make.
I technically think that's notalways true.
You just need to make sure youdo different work and the right
work.
Darren (00:35):
Nick how old are you?
I'm 21.
And how much money do you makea month?
Nik Setting (00:39):
I make $170,000 in
profit.
How?
Darren (00:47):
I built and scale info
products.
Why do you think what you'vedone has worked so well compared
to everybody else out there?
Nik Setting (00:50):
I look into the
details of things.
Darren (00:53):
But for what particular
reason Do you think a lot of
guys overlook that and just gostraight into almost like trying
to get people results by justkind of hoping or what's been
backed right, because there hasto be so much in your results to
have this consistent wave ofresults every single month?
(01:13):
Man.
Nik Setting (01:14):
I feel like people
see the info space as air, most
of it.
Right, right, yeah, could betechnically true, but I feel
like the moment you back thingsup with data, it makes it so
much stronger, it makes thesolution so extremely powerful.
And the only thing that we'redoing here every day is we're
looking at the ICPs the idealclient's problem and we'll see
(01:36):
if we have a solution for it.
And I feel like I'm figured outexactly and I have all the data
on knowing how to figure outwhat that client's problem is,
for me to know exactly what toprovide with my team to solve
their problem.
Darren (01:48):
What was that journey
for you in doing that?
So, when you move more into adata approach, what was the
trigger for that?
With the current offer you have?
Nik Setting (01:57):
Super good question
.
The trigger for that was meworking in a US-based company as
an appointment center.
I realized super quickly thatthis company was capped under
six figures and I was the onethat figured out what the main
components, the main reasonswere of why they stayed at that
level.
Right, it was like 70, $80,000a month and they didn't have
(02:20):
data, so sometimes they had 70Krevenue months and then it was
20, back up to 50, 50, back upto maybe sometimes 100 and then
back to 10.
So there was so muchinconsistency and I realized, if
I figure out with my team backthen because I had a team
working with me already how tocreate consistency within this
(02:41):
company, I can scale and theonly way I can create
consistency is if I have thedata to be able to prove you
know dude.
Darren (02:49):
There was a clip on this
recently which was if you're
trying to lose weight, if you donothing else but weigh yourself
every single day, you willinherently lose weight because
subconsciously you're going tothink about losing it.
You know you're not going toeat the donut.
You know you're going toactually move more, sleep more
and looking at it from like afitness perspective which
obviously you're into fitness aswell that same logic, when it's
(03:12):
applied to your business, meansthat the results become
consistent.
They're just going to workright, because if you're in good
shape and you eat well and yougo to the gym, you're going to
wake up tomorrow and probabilitysays you're not going to be fat
.
So the same goes for yourbusiness.
It's like people just don'thave a hold of the numbers.
If you do nothing else but justhave the numbers tracked, they
(03:32):
will get better without evenmaking changes.
Nik Setting (03:35):
It's applicable to
every single thing in life.
And the most important thing Iwant to add to that is that most
people have data but they don'tknow how to read it to improve
it, meaning they make the samemistakes again.
Right, and that's where mostpeople fail, because 90% of the
market doesn't have data, butthe other let's say 9%, you know
does have data but doesn't knowhow to read it to make
(03:56):
improvements.
And there's 1% that knows both,which are the people that skill
super quick.
Darren (04:08):
I think for today, man,
we can go the whole way through
that kind of funnel like processeven from the very top down,
because one observation I havemade is that a lot of the data
in the online business space ismanual.
So guys are either like hackingtheir way to getting numbers or
they just don't have anynumbers at all.
How are you approaching that?
Nik Setting (04:18):
When it comes down
to creating numbers.
Darren (04:20):
When it comes down to
like tracking everything, right?
Because if you're saying when,even when you're a DM setter,
right, a lot of DM setting isquite manual and guys are kind
of like using spreadsheets andshit for absolutely everything.
So when you were in that roleinitially in that previous
company, what was it you weredoing initially to start that
journey for people?
Because some people now listento this are at zero, right, they
(04:40):
have no idea of like theirnumbers, making 10k, 20k a month
, but again, they're guessingtheir way to it.
Just want to take one quickbreak to ask you one question
have you been enjoying theseepisodes?
Because if you have, I'd reallyappreciate if you subscribe to
the channel so that more peoplecan see these episodes and be
influenced to build an onlinebusiness this year.
Nik Setting (05:00):
Thank, you, I have
a leverage letter, meaning I
write down all the tasks thatneed to happen within the
company, every task.
I write it down from one to 10,and I reorganize it in a way
where I say, for example, let'ssay content, something I can't
automate, I need to do contentmyself.
You need to content yourself,meaning it's the hardest to
delegate, right?
I write down everything fromone to 10.
(05:22):
And then I ask myself thequestion can I automate this or
delegate it?
Most of the things I canautomate, because tracking is
the most important component.
But you don't want to do itmanually and you rather also
don't want to spend money inlabor to be able to automate it.
You want to do it completelyautomated with AI.
So that's why we now, at thestage where I'm at, we build
(05:45):
custom ai systems that track,for example, like the ads we're
going to talk about tracks,every single component of the
ads, step by step.
For me to know exactly where mymoney goes to, where my time
goes to.
You know where my labor's timegoes through.
Darren (06:00):
that's the most valuable
thing and I find this is
interesting because even guys inmy network who are making like
multiple six figures a month,they still don't have a hold of
their ads, especially likefollower ads, indirect ads.
They don't actually have a holdof what they're tracking and
why they're tracking.
So I think even if we just addthat component people, that's
going to be so valuable forpeople to start with.
So let's go at the very verybeginning, right?
(06:25):
So your top of funnel is yourads.
I think what you've got knownfor is your ads and your content
.
Let's go through themethodology there.
And why does that work so wellfor you?
Nik Setting (06:32):
The most important
thing I wanted to touch on that
you said.
The people that make 300k permonth, that make that amount of
money without data, are peoplethat rely solely on their
personal brand, meaning there'snot a lot of longevity into it,
which is fine, but like there'sno longevity into it into
decades, for them to createscale, unless you know, unless
(06:52):
their personal brand keepsgrowing, then there could be
it's not a business.
Darren (06:57):
It's not an actual
business.
Nik Setting (06:58):
It's more like a?
Darren (06:58):
yeah, it's more like a
showman.
Yeah, they have to get up anddance.
Nik Setting (07:02):
yes, for them to
get results which is exactly,
most of the time, the reason whythese people don't provide
great services, you know,because they don't build an
actual company.
And they also, when they don'thave the front, the front end
data data, they don't have theback end data, which is the
reason why they can't build agreat solution most of the time.
Right, and I think that's superimportant to touch on agreed.
Darren (07:19):
So let's go top down.
So let's focus first on yourorganic content.
So your organic and all yourmoral boards is so fucking sick
that everyone in the industryhas started copying it right now
.
Nik Setting (07:31):
I know, which is a
good thing, because if you don't
have people copying you, then Idon't assume you're doing
something special.
So I think that's important inthe first place.
Second, I feel like content isthe foundation of everything.
I think if you don't havecontent in place and right now
we're distributing content withstories, with reels, with ads,
(07:53):
creatives, but also with YouTuberight Podcasts so content is
the foundation of everything,because that's what creates
conversion.
So you can get top of thefunnel ads, you can get eyeballs
to see you every single day,but when the foundation in
content isn't good, nothing willhappen.
How?
Darren (08:11):
do you build a
foundation?
Nik Setting (08:13):
Building a
foundation with content is
figuring out three things.
So you have verbal content andvisual content, right?
Visual is what people see.
So, for example, when peoplesee all my data points instantly
, it makes them recognize okay,this guy is data driven and this
guy knows what he's talkingabout.
Second thing, verbal is I'maligned with these three things,
(08:34):
and that's charisma, convictionand confidence.
So every single piece ofcontent that I bring to the
market I think about is thisconviction driven, confidence
driven or charisma driven right?
That's the reason why I'm asuper big fan of posting quality
instead of volume based,because you only put out a reel
every couple of days, exactly,oh, not even, not even man.
(08:56):
No, I'm inconsistent in thatsense.
Darren (08:59):
How did you think of
those three buckets?
So I want to go deeper in yourmental model right.
Nik Setting (09:09):
It's like where did
you draw that out?
Where did you learn this fromright?
It's interesting because, uh, Ihave never had a mentor, I've
never invested.
Um, my main drive andexperience comes from taking
massive action and failing asmuch as possible, and I feel
like that.
My skill lies into takingaction without even thinking
about if it's a great decisionall the time.
Obviously, you make rationaldecisions, but I tend to take
(09:31):
decisions sometimes too quick,which is either why I fail too
quick right, or learn too fast.
It's one of the two right,which is where that comes into
place.
Darren (09:42):
It's funny enough that
was actually the exact same as
me.
I couldn't afford any formaleducation, so anything in the
online space, so I had to justchew glass enough to be able to
get some data To be like, okay,this is working, this isn't
working, this is improving, andso on and so forth, you know.
So let's go top of funnel.
When you're looking at thatcontent originally and you're
creating that emotion in thecontent, why do you think it's
(10:03):
hitting so well?
Because you're putting so muchdetail into your mirror boards
and everything.
What is it that's reallytriggering with people?
That's hitting the nail on thehead with them.
Nik Setting (10:11):
You have the front
end, which is, like me, speaking
right, which is the reason why,if people speak, this is what
people always say right.
If you speak with conviction,although what you're talking
about doesn't make sense, itstill works yes, which is a fact
, which is a fact, but which isa?
fact.
But there is also a backendcomponent to it which makes
people transform from viewers tobuyers.
So I can talk about a lot ofstuff, but whenever I talk about
(10:32):
things that doesn't really makesense, people will like me, but
they'll never convert into abuyer, right?
So the backend component is theactual skill that people
appreciate, for example, aboutme in business, right
Data-driven, solution-driven,problem-oriented things like
that.
But the front end is the actualthing that gathers people's
(10:53):
attention and converts them.
So, when we go back to the wholepoint, you have verbal content,
you have visual content, whichis, for example, my Miro boards,
and I use it as trademarks aswell.
Right, I invented myro reels,or at least, maybe I didn't
invent it, but I claimed it.
Meaning, if other people startcopying me, for example, you
distribute certain content wherepeople know, okay, there's
(11:15):
always a guy at the top, right.
What I'm doing right now is I'mrunning retargeting ads on
these types of people, so itfunnels itself down to me, right
, where I have the main frameinto creating that type of
content, you know and eventuallythose guys that are copying you
will actually come to work withyou they're either my clients
(11:35):
or my potential client yeah,because they're mirroring, and
there's nothing wrong with thatif, especially if they're your
clients, they're mirroring youractions because they admire you.
Darren (11:42):
Right, and that's why
the, the guide or the mentor,
needs to lead from the frontright, he actually does need to
lead from from the perspectiveof people can follow you and
inherit your beliefs, which isgreat, but it shows, like that's
why you need to be constantlystaying ahead and evolving.
Nik Setting (11:58):
It's the point,
like you know what it is with
copying it.
There's no longevity into it,because you're kept based on the
other person's potential.
You're dependent right and when.
Darren (12:08):
You're always innovating
constantly, you're the one that
always stays on top I thinkthat's where you can create your
own path for that right, whichis like you're out of the trend.
So what you're doing the theway that you've built your
infrastructure, way to buildyour back end.
That's just the way that you dothings.
It's kind of similar to how webuild our business right, we
have a very lean team but wehave a big operation.
(12:30):
Like we have multiple movingparts, but it's still very, very
lean.
Someone could look at that andthink I want that, but they
wouldn't be able to copy itbecause it's kind of my
background in hiring culture,building teams, building systems
.
You are the USB, you are thatmain edge that people want to
buy in the end.
Nik Setting (12:51):
Correct and you
kind of copy everyone right
Because you didn't figure outthe wheel, nobody did right.
But that's where you takeinspiration from other people
all the time because you extractinformation from so many
different socials or content oryou know thoughts network, where
technically every single timeyou're, you know like, depends
where you draw the line ofcopying.
You know what I mean.
(13:12):
I think that's super importantto to dissect.
Yeah, would you?
Darren (13:15):
would you say that all
of your organic reels they're
with the goal of becoming ads?
Nik Setting (13:21):
no, there's a
difference.
I have problem solution drivenads and content, which means it
like specifically explains aspecific problem and I'll add
the solution to it, which istechnically value driven.
We have credibility, which ispurely with clients, so it's a
transformational reel.
And then there are the main twothat we focus on, that we
(13:42):
distribute right now.
When it comes down to reels,and then with ads, it's also
like transformational educationor value-based, but it's a
different type of scripting, adifferent type of hook and body.
Um, right now we're testing newads, which is super interesting
for everyone to listen to aswell.
Um, controversy works, workssuper well, like three years ago
(14:03):
right, saying somethingcompletely out of the blue which
catches people attention, whichincreases retention.
But right now, for example, inour vsl, we say 11k per month
and then people start to thinklike 11k per month, everybody
says 10k.
Why does this guy say 11?
Right, yeah, and people arelike, damn like, and then the
moment they start to think aboutthat for three seconds, they
(14:24):
they're already in the body,because the whole point, the
body of the ad, you have a hookand you have a body, and I run
both ads and the retention wasgoing sky high with the ad where
we set 11K Because people startto think about the reason why I
set 11.
So when you can make peoplethink, in the hook the body does
(14:45):
the conversion right, becausethe whole point of the body is
doing the conversion.
And then you do a CDA at 65% ofthe reel and you do a CDA at
100%, so the end.
And then you get qualifiedfollowers.
With the funnel that I run.
Darren (14:59):
It's perspective
shifting.
You can shift people'sperspective, get them to change
their mind, get them to open uptheir eyes and everything.
Do you find that some of theads in the online business space
now are becoming so repetitive,like that everyone is used to
the fucking hero's journey, thestory arc and then the hard
pitch?
Because when you look at yourads, you look at your reels.
(15:20):
They're very native, and what Imean by that is the way that
we're running this now is wejust have natural reels that
just look organic, they feelorganic, to give a good vibe.
So then someone's like oh okay,I want to follow this guy, or I
want to engage with this guy,or I want to start a
conversation with this guy,versus, like you are going to be
poor, you're stuck at 5k amonth.
This is the way forward.
(15:41):
Come by my program.
Nik Setting (15:43):
There are normally
the super direct ads You're like
VSL ads I call them profilefunnel ads which is driven based
on paying for eyeballs insteadof paying for booked calls.
And, the most important thingthat people don't understand,
this is super direct driven.
This is super indirect driven,meaning sometimes it takes two
weeks before people pay me 12K.
Right, with the direct funnel.
(16:03):
It's super emotional driven aswell, instead of people making
decisions from a rationalstandpoint, which is the reason
normally why reputation is acause of the fact of onboarding
a lot of people from a volumeperspective based on emotional
decisions instead of making arational decision, onboarding
(16:27):
quality people.
And, I think, info.
One of the most importantthings in info is the name
behind it.
Right, you can sell peoplesuper direct on like a mechanism
, which is what normally peopledo with like a vsl funnel super
direct, right, and the reasonwhy people pay is because the
offer sounds too good.
But the longevity is createdwhen people buy into a person.
Darren (16:49):
Yeah, that's the first
thing I said.
Nik Setting (16:51):
People pay me
because they like me and if they
don't pay me, fine, and they'llpay someone else that they like
clients are a reflection of youalways.
Darren (16:57):
They'll always be a
reflection of you.
I find, like the whole vslfunnel.
So with the new approach oflike indirect ads, running them
into your Instagram, I find theidea of a VSL funnel to be so
outdated, because you're goingto get leads that don't want to
be on the calls.
They're not going to show up.
When they do show up, they'regoing to be super hostile.
(17:17):
They don't know much about youat that point, and then you're
really wrestling with them for apay in full, whereas it seems
very inauthentic, and alsoyou're going to get the wrong
buyers, whereas if you look atan indirect ad, an instagram ad,
a follower ad, people buy andthey move through the journey
when they're ready, right.
(17:37):
So that's why I wanted to askyou about your duration before
they start paying, because Iwould love to get your thoughts
on what you think the lag isbetween a new follower comes
into your world and when theypay, and what should be an
acceptable metric for that it'sa good question.
Nik Setting (17:51):
With my funnel it's
even harder to track compared
to a vsl funnel.
Yes, with a vsl funnel you canuse irox, whatever right?
Yes, yes, that's why we rightnow we're building custom driven
solutions to create, you know,a way of tracking qualified
followers and things like thatTracking cost per qualified
profile visit which you canalready see on the ad.
But then again, if you utilizeFacebook to utilize Advantage
(18:15):
Plus, instead of using like amanual campaign, facebook
decides where you spend yourmoney towards, which is not a
good thing because you want tohave control yourself.
We'll go into that later.
So it's a manual campaign.
I decide where my money goes,and we built custom solutions
right now around being able totrack exactly where each
individual eyeball comes fromfollower comes from, setter
(18:38):
reaches out to the follower.
Then we have a differentautomation that tracks show up
rate, that tracks closing rate,that tracks the amount of
conversations we had everysingle day, the inbounds, the
warm outbounds.
You get my point.
How do you do that building?
Darren (18:53):
that animation.
But, yeah, as in, how do youintegrate that into instagram?
Because isn't there a lot ofrestrictions with running an api
into instagram?
The reason I'm saying this isbecause I have that exact same
issue and well, everyone does,obviously, and that was the
whole point I was saying it'svery difficult to automate it
all because the way that I thinkabout this and I would love to
(19:14):
get your criticism, critique onthis is there's follower,
there's there's new followers,there's ad spend per month, per
day, so let's say $100 a day,there's 10, there's 15 new
followers.
That's $2 or something I canadmit.
Yeah, $2 per follower.
Then there's cost per qualifiedfollower.
So of that, 50, let's say 30are qualified, 60%, it's
(19:34):
probably a bit high, but let'ssay 60%.
And then of that cohort, whenthey book, when they book,
what's the lag between therethat we can contribute to cost
per call?
Nik Setting (19:48):
So that's not the
only metric right.
I think the most importantmetric besides cost per call is
cost per qualified follower,that's the first.
Darren (19:55):
That's what I meant,
sorry.
So cost per qualified followeris the next subsection to the
cost per follower.
Good question.
Nik Setting (20:02):
So when you go to
notifications, you click on
notifications on your Instagramon your phone, and you go to
follows.
You see all the people thatfollow you.
You have a name Darren startedfollowing you from your ad.
You've seen that before.
You can click on the side andyou instantly get redirected
towards the ad that that personcame in from.
That's unique.
(20:22):
Now it's manual, purely manual,but in the business manager you
can go to the specific creativesthat you've launched.
So let's say there are fivesimilar creatives.
You still don't know which oneit's coming from.
Right, because you have fivecreatives.
That one came in from one ofthem.
You can click on the creativeand you can go to instagram
pulse with comments.
So you go to that ad in thedesktop and then you basically
(20:46):
have like five differentcreatives open, because you
launch and you run fivedifferent creatives and you can
see exactly which one it'scoming from based on the
engagement, so the amount oflikes and the amount of comments
.
This is all manual, but now,the moment, we understand the
foundation of the system,understand can hire a programmer
, a developer, to build anautomation around tracking
everything manually, right?
Darren (21:08):
so then basically, you
filter creative based on most
engaged and then scrape fromthere yes, the ai does that.
Nik Setting (21:15):
You can do that
manually, but it takes a bit
more time.
So we do it manually nowbecause there's nobody in this
whole market that has figuredout how to do it automatically
but I think the issue is notbecause we can't do it, it's
because instagram don't allow itright, it's instagram.
Api is terrible.
It's putting a square pictureof a circle hole yes, you know,
I would say it comes down toknowing the right people that's
what I mean.
Darren (21:34):
you know, it's like
there's nothing natively not
native, but even indirect toconnect to make sure that this
is aligned like you can'tnecessarily just build upon this
, and this is where Instagramand even DMs on Instagram can be
quite muddy right, because it'svery difficult to backtrace a
thousand conversations right.
(22:00):
A thousand percent was a set ortwo is like tracking instagram,
dms, and that flow is way harderthan linkedin or emails or
anything else, because theconversations don't natively
update into close I'm not usingghl, but into into close anyway
for the most part.
(22:20):
So you do need like a salesassistant to measure that now.
You could correct me if I'mwrong here, but how have you
solved that problem, right?
Because this is the whole issuewith scale, right?
Is it works?
Obviously, everything works at20K a month.
It works at 100K a month, butdoes it work at 2 million a
month, right?
Nik Setting (22:42):
Instagram is built
as a social platform.
It's not built to sell, right?
So Instagram is technicallyjust a social platform to share
each other's experience, sharephotos and things like that.
It's not built for business,whereas LinkedIn is right.
It's more for business.
That's the first thing right.
Darren (22:56):
Instagram is for dating
Right?
Nik Setting (22:57):
Yeah, instagram is
for dating nowadays.
That's crazy.
So I feel like that there'salways a solution to find when
it comes down to creating scale.
Now, let's say you're a twomillion per month and you run a
volume-based company, avolume-based info product,
meaning you get a lot of leadscoming through the door and
things like that.
There are obviously things likeManyChat in which you can
automate things with andwhatever right, but I think it's
(23:19):
super important that theInstagram API constantly evolves
and changes, which is whyInstagram is one of the most
complicated platforms toactually build something
sustainable on.
Besides that, when you figureout how to build an automation
to constantly track eachconversation and each inbound
and each outbound, you get itall into a data, into like a.
(23:42):
How do you say that?
Like a data, like a platform ofdata, data lake?
Yeah, like a memory card orlike a big memory cart, which is
what AI technically is, so itcan gather all that data and it
can make improvements based onthe data.
Now, I'm not a developer.
I'm not a programmer.
Happily, because it's not wheremy skill lies.
But again, I feel like the mostimportant thing is that
(24:03):
everybody knows it's when itcomes down to labor, knows its
tasks and its role within thecompany, to know exactly what to
do.
So, for example, right, like Ihave my company built on quality
, meaning I don't have a lot ofdms every day, I don't have like
hundreds of dms per day.
My business isn't optimized fora volume, meaning I could have
(24:24):
three inbounds per day and 20conversations and make thirty
thousand dollars in a day, right.
So I feel like it's going to behard to get to a point where
volume is going to overpassthese types of automations in a
way where you'll need thesetypes of complex things.
(24:45):
Complex things because complexthings, because the second thing
, you gotta ask yourself thequestion.
Let's say you have a lot ofvolume coming through the door,
right, you have to ask yourselfthe question and you're making.
Let's say you have 500 DMs perday, every single day, inbound
DMs, and you're making less than500K per month.
You gotta ask yourself thequestion does the problem lie in
the conversion mechanism or is?
(25:06):
Is the traffic the problem?
Right, because people get somuch attention every single time
but they don't convert.
They have 12 calls a day withthree setters or closers.
They have two different settersin their general and their
primary, and they'll make lessthan 200k per month yeah, it's
kind of like.
Darren (25:25):
It's like you have so
much opportunity, they have no
opportunity because they'remissing the whole goal.
And I think this is kind of anissue with setting in general,
which is, if you have one setteror two setters, their focus
can't be on the 100conversations a day because
they're spread so thin, but ifthey have 23 a day, they can
(25:48):
look at it objectively and say,okay, well, this person is a
coach, they're making 10k amonth.
I know I can push them intothis product.
This makes sense in this way.
It's more consultative, correct.
And it's funny because in ourhigh ticket program we've many
guys.
They're doing like 130 150 k amonth.
One of the guys in particularhas so much volume of leads but
(26:08):
the setters can't keep up withit.
And it's funny because we justdo sell by chat which I'd love
to chat to you about as wellversus a call funnel, um, and we
just can't sit in the problemlong enough with the prospect
because there isn't enough timein the day.
And then if you pipeline sellthat too, it becomes harder.
So it's kind of like ads, right, what ads do you?
(26:29):
You find this break pointwhereby it's hitting, and then,
when you go above it on thespend, you could hit fucking the
worst audience, correct?
You know?
I I think that a huge organicaudience, a huge organic
audience, has the sametendencies to ads, because
there's people in there that aresuper cold, that will never,
ever bite, so they're inevitablyair.
Nik Setting (26:51):
It's a point of
diminishing returns, right.
Yeah, when you spend uh, likeright now, of the profile funnel
, you can spend.
I figured out a way to spendmore now, but I could.
I could only spend 300 a day,meaning that's ten thousand
dollars a month.
The return is 10x, so that's100k, right, with specifically
profile ads.
Now I figured out a way toscale it horizontally and get it
to 500 per day, right, whilestill making it worthly
(27:14):
profitable in a way.
You know what I mean.
But then when you startspending seven, eight hundred
bucks a day, the problem comesinto place where the return
isn't worth the extra spend youget where I'm coming.
Darren (27:26):
Yeah, so I was just at a
mastermind and a lot of guys
were in that exact same scenario.
Nik Setting (27:30):
So they were doing
2 million a month, so 25 million
a year, but then their marginsare around 25%, Gotcha exactly,
and there are also probably guysthat spend a lot, a lot, a lot
of money on ads right, buttechnically the profit margin is
lower again.
I think we made two to 16k lastmonth, but like 170 000 is pure
(27:51):
, pure profit.
Meaning there are people thatrun a million dollar company,
right, they make a milliondollars in revenue, um, but the
profit margin is 20 25 at theend of the line, which is fine.
It's just like what is the typeof company that you want to
build, but also where your valueis at.
Darren (28:08):
You know and also like
this is ironic because if your
margins are 20 and you're making20 million, that's 4 million in
profit, but you'll also get the4 million in profit if you make
7 million.
Right, it's gonna be the same.
It's the same thing exactly.
And it's ironic because Istarted it and I still do have
an agency I know of two, andagencies are historically very
(28:32):
low margin and I just neverreally believed that it was like
things that you were told right, and we just kept our margins
really high.
We sold really high ticketstuff.
We saw year pro year umcontracts anywhere between 40k
to 70k a year and it's thethings check out right.
Then it's still like 60 andit's doing like 2 million, and
(28:52):
then a year, and then on thecoaching side, margins are like
70.
Yes, you know, and but for me Ijust don't understand it,
because we literally looked atnumbers yesterday.
My client acquisition costs arethe lowest I've ever been, had
a really good month last month,but I think it's because I have
(29:13):
a strong hold of the data.
So I'd love to get yourthoughts on this.
Like and I'm going to actuallyput this on my story today I
forgot to do it yesterdaybecause I was so busy Like what
we're tracking internally.
Okay, so let's have a take astep back.
What would be like your CEOdashboard?
What are the main things thatyou would track, as a CEO,
across your company?
Nik Setting (29:30):
So I have different
departments, right?
You have front-end and thenfront-end is divided in traffic
and conversion and back-end isdivided in team and fulfillment.
So the most important thing isyou have fulfillment trackers,
you have team trackers thattrack all the KPIs and things
like that.
Darren (29:50):
And then front trackers.
You have team trackers thattrack all the key pi's and
things like that, and in front.
Nik Setting (29:52):
And same thing what
would you track?
Let's let's talk with the backend later, but maybe on at a
high level.
What is it you would trackindividually?
Let's say, with team.
So my team, every single person, takes responsibility for their
own tracking.
So for the setter, it's like aconversation started, it's
inbounds, it's show up ray, it'sum conversations and gains
engaged and offers presented,it's booked calls, it's for the
closer, it showed up calls,things like that.
(30:13):
Right, super, super generic.
But I think people know withteam is like this this is a
little bit more complicatedbecause it's not only tracking.
If each individual team memberis pursuing its actions every
single day based on the kIs theyneed to hit, but, for example,
like a closer messages people onWhatsApp every single time
Tracks all that stuff manually,but at the same time, with
(30:35):
tracking and this is interestingas well I have an individual
call with each team member everysingle week.
I spend five hours a week onthis Nice.
Nobody spend five hours a weekon this Nice.
Nobody does this.
The reason why is because Iwant to understand the way
they're into, like theiremotional perspective on things,
(30:56):
and I think this is the mostimportant thing.
We can talk about hard data.
But now again, I told youbefore this podcast, I have my
whole team here in Dubai.
So, coming back to trackingthings, I don't track their KPIs
solely.
I track their emotional stay,which is the reason why people
stay with me for years and Ithink that is the most important
(31:17):
component.
With teams specifically, samewith clients.
The backend and your team isway harder to track than setting
and closing because it's purelyKPIs.
That's why I fly out my teamlike four times a year to a
specific place to work together.
We do specific retreats, um, Ihave an individual call of each
one of them every single week.
Darren (31:36):
It's like a therapy
session it's amazing, dude,
because you'll connect with themon a personal level at the
professional goals will becomeachievable the biggest trust me
forever and you'll you know youshare opinions.
Nik Setting (31:48):
I talk about
extreme personal stuff with them
.
The relationship that it buildsis creating so much longevity
forever, which is absolutelyamazing, and I think most people
don't underestimate theimportance of having A players
on your team.
The only reason of why I'm atwhere I'm at today is because of
the people within my company.
It's not because of me, so Icould have not done this alone,
(32:12):
and I feel like that personalrelationship is really what
builds and creates that trust.
Now I want to reflect onclients as well.
Yes, when you track clients'KPIs so we have complete client
dashboards and things like thatright, we track each individual
client based on progress, action, things like that.
Now, it same counts withclients.
I do one-on-ones for a reason.
(32:33):
People say it's not scalable.
I disagree with that right, butit's important.
It's exactly the thing thatmatters into cross-selling,
upselling people, getting themto stay with you for two to
three years, and that's wherereal wealth, you know, is built
internally in the team.
Darren (32:50):
Dude this is where this
is such interesting conversation
.
So and I love this, by the way,and I really appreciate you
being so open with this as wellis because a lot of guys in this
info space they're selling chopshop 10k a month offers.
They're getting 1500 from aclient and that's it, as in no
one's, no one's buying anythingafterwards.
But the big shift is havinglongevity, with the client
(33:12):
giving them more stuff, morevalue, being part of their
growth engine so that they canpay and they want to pay more.
Let me give an example.
I have this young guy calledAndrew, an amazing client,
amazing guy.
We met when he was 19 years old, 18, 19 years old.
He was making 4k a month in hisagency.
He wanted to come into ourcontent agency but he couldn't
(33:33):
afford it.
So I said look, we'll start youout in incubator, which is our
kind of a beginner program.
We helped him, did theone-to-ones with him.
He scaled up to 24k a month andthen at that point he kind of
evolved.
He'd finished right and he waskind of with guys that were
getting started.
We built a second program whichis allowing people to scale up
with setters mainly setters,setters and multiple offers.
(33:54):
For the most part he now is inthis part of building on the
sales team.
He's 20 years old, he's scalingand now, because we have a
recruitment agency, we have allwe've given him all of the rest
of his team.
So his LTV has obviously hugelyimproved but, most importantly,
his results have conditionallyimproved.
(34:14):
We're now super close.
He moved to Bali from Wisconsinin America.
We like spend every fuckingweek together.
I love that man.
It's part of the journeybecause your friends, I always
say this that if you truly trustsomeone, it's part of the
journey because your friends, ifyou, I always say this that if
you truly trust someone, youshould work with them.
My best friend is my cmo,because we are just vibing
together.
We're in war together, samewith my clients, man.
This is why I love clientretreats and masterminds.
(34:36):
We're all on the same missionand we're all doing the same
thing and I think that's that's.
Nik Setting (34:42):
That's what a
company is and then I can ask
the question like how does itfeel to help someone like Andrew
?
It's amazing.
It's beautiful compared toselling Exactly.
Darren (34:51):
And doing it on your own
right.
As a solopreneur doing it onyour own, because I have this
thing where, like, I feel like alot of solopreneurs are not
good with people.
Nik Setting (35:03):
Oh, I think being a
solopreneur good that you
addressed this point.
I think it's absolutelyterrible.
A solopreneur, you know howboring that is.
It doesn't matter the amount ofmoney you make.
I don't want to make 500K permonth in profit.
Being a solopreneur, it's theworst thing because people are
everything your team, yourclients, your friends, your
family, everything right.
(35:24):
So that's a super good pointyou're making.
I can understand, especiallyfor Andrew.
That feels amazing, right, thatfeeling of knowing you're his
mentor.
You can help this person andyou've helped elevate this
person to a point where you'reso happy with the outcome and
the end result that it feels soextremely fulfilled.
You know not only externallywhere you sell a course and you
made money from it, butinternally as well.
(35:46):
And I think externally whereyou sell a course and you made
money from it, but internally aswell, and I think that's
something most people forget andthat's also where the longevity
from clients comes into place.
Darren (35:51):
It's internally and not
externally, and I think that's
how you build again realbusiness and it's a control part
again, right, when you feel outof control because you know
you're not getting results,because you're not, you know
you're not able to get results,it's a big part as well.
Right, you're selling somethingyou don't know, what you're not
able to get results on, andthat's the reason why people
feel out of control withtheirself.
I think it's a big reflectionI've had working so closely with
(36:13):
people and having like apodcast, meeting all these guys
that are like at the top levelis there is a big element of
they don't know what's going onin their life my, my conviction
purely comes into into the factof knowing that I know what I'm
talking about.
Nik Setting (36:28):
I know what I'm
fucking doing.
You know what you're doing withpodcasts.
You've done 200, 300.
300.
300, right.
So, like we know what we talkabout in our field, that makes
us valuable.
And that's again to the firstpoint we started talking about
in this podcast.
That's where conviction andconfidence comes into place, and
with conviction and confidence,you can attract more people,
because that's what people arelooking for.
(36:48):
When people see this isinteresting, when people see
that you believe in your product, they start to believe in it.
Darren (36:53):
People love people who
are obsessed Right.
Nik Setting (36:56):
Always, man, and it
go in every single detail.
Yeah, man.
Darren (37:00):
And then that's the
energy to mirror, right, you're
a very calm guy.
Nik Setting (37:10):
Where you're red,
you're very calm go.
Where did you?
Uh, where does that come from?
Um, I was around three to fouryears ago.
I was always talking everysingle day as much as I could,
which made me realize thatpeople never took me serious.
So I had to learn my biggestlesson and lesson and the moment
you're talking for 90% of thetime, right, and you're silent
(37:30):
for 10% of the time, you'revaluable.
The moment you're silent,because people value what scares
, right.
When you're always alwaystalking, for example, you're
always talking and you're silentfor 10% of the times, people
value that 10%.
You get my point?
Yeah, so I was always talkingfor 90%.
So the moment I was silent,people were like Nick is silent.
(37:51):
Finally, within my family, withmy friends, and I had to learn
to know when to speak.
I want to go into that as wellcommunication and speaking.
I think that's one of the mostvaluable skills every single
individual can learn.
So I learned how to be quietand to know when to
(38:12):
strategically use my convictionand my confidence and in moments
, to be more calm.
Why?
Because the moment youstrategically choose how to talk
, with conviction or not, andwhen, when to talk, you position
yourself in such a way whereyou always almost create benefit
(38:32):
for yourself and that makes youa lot more valuable than people
think, and I think that's the abetter skill that I've ever
learned, compared to any singlebusiness activity such a good
point, man, and you're way moreobservant you're way more
observant and that are thepeople that are highly respected
(38:55):
deeply internally.
The moment you're on a tablewith, you know like nine
different people, and eight arealways talking the moment you.
This is interesting.
I said this in one of my shortform content clips.
Let's say you're at a tablewith 10 people and you start to
interrupt people.
People make the decision toeither tell you like what, what
(39:18):
are you doing?
What the fuck are you doing?
Stop talking.
You know they'll either hateyou or they highly respect you.
Well, even though you'retalking, you know people are
like I respect this guy, thisguy is talking even though I was
talking, but they'll stillrespect him.
You get my point?
Yeah, and that's, I think,what's really really, really
(39:40):
valuable, and that's also whereinfluence is created.
The moment you have influence,you can make everything happen
in life, like everything,because you you can control how
people make decisions.
And the moment you can controlhow people make decisions, you
can make people pay you right ina good way.
Your influence is super goodthe moment you utilize it in the
right way.
Darren (39:59):
Not everybody's doing
that 100 and like they're like
influence spans.
Have you read robert cialdiniinfluence?
I've never read a book in mylife really never.
How come?
Nik Setting (40:05):
you've never read a
book in my life, really never.
Darren (40:07):
How come you've never
had many external influences?
Nik Setting (40:10):
I don't have the
patience to read a book.
Yeah, I'm super active, Icannot I cannot sit still in a
chair, so this is super rare.
No, we're now, we're having anamazing conversation, but no, I,
I I don't have the patience toread a book, um, which is
something I would love to learn.
Like I still have to learnpatience to read a book, which
is something I would love tolearn.
Like I still have to learn howto read a book technically, you
know, and I always was figuringout like, ah fuck, I want to
(40:32):
learn how to read a book, and ata certain point I was like,
wait, maybe I take and extractmy information from different
things and that's fine and fromaction.
I love to meditate.
That's where I get my peace from, and I was always looking
because everybody told me, nick,you need to learn how to read
books.
I was figuring it out but itdidn't work, and I think it's
fine to accept the fact that Idon't like reading books, but I
(40:54):
do meditate and that's where Ireflect, journal and where my
creative mind starts working, soto say.
So, how do you?
Darren (41:02):
do that Because, of
course, you're very, very action
orientated, so you'll have apreference towards mind active,
body active, yes.
So how do you, how did youswitch to mind active, body
still?
Nik Setting (41:21):
I think that's
actually a super interesting
question.
Mind active comes from,obviously, the vision you have
and the goals you want toachieve.
But I think most people and thisis also the reason why most
people in our market areconfused, right, they don't know
their actual vision and theirgoal.
They're just not clear on it,and I think that really prevents
(41:44):
you from pushing every singleday.
No matter the money I makeright now and the things that I
have, the assets that I have,I'll still keep pushing every
single fucking day because Iwant to become the best and I
know I will.
Right, that's the confidence Ihave.
But at the same time, when itcomes down to a body perspective
, I feel like, like, as a superinteresting example, right, when
(42:04):
I don't go to gym for a week,it starts to reflect on my mind
easily, right, and and I reallyrecognize that based on, uh,
knowing that every like I needto move, I need to move and do
shit every single day, whether Igo for a drive with my car
where I get a lot of dopamineand adrenaline right or whether
I go I need to do that every day.
(42:25):
Yeah, man, to just really likerelieve my energy, leaves my
energy in a way where, um, Iwill be able to sit behind my
chair and think for 8, 12,sometimes 16 hour days yeah, I'm
laughing man because my likefitness coach, he's always
telling me like you need to takerest days, you need to take a
break, you need to take a break.
Darren (42:45):
But if I'm really busy
with work I'll always go to the
gym because that would just bemy only time where I'm not
working like actually, like atmy desk.
So that's like my, that's myrelax is training.
And the only day I didn't wasin Istanbul last Saturday.
Well, I obviously take restdays, but where I didn't have
any recovery modality like icebath, sauna, swim or whatever.
(43:16):
And on Saturday I walked like 11kilometers around Istanbul
because I have to be body active, mind active, and then I was
just kind of writing some noteson my phone and then I was
sending like a few like voicenotes to friends or to team
members, should I say, who arealso friends, and that's where
my release comes from.
So then I got back at like 9 am, because I went out at 7 am and
I had walked like 20,000 stepsand I was like, oh, that was
great, I had a great release.
Yes, so people's release comesin different mechanisms.
(43:39):
It doesn't have to be reading abook, right, not correct, and
you know it can be anything and,to be honest, dude, it can
actually be like watching TV.
If that's your release, ifyou're working 16 hours a day
and you want to fucking chillout and watch some more TV to
reset, because you know that'sthe modality, you have to see
where it fits into your journey.
Nik Setting (43:59):
I would disagree
with the TV.
The reason why is because it'sa distraction, so it's not like
an actual pure focus of focusingon yourself.
It's like a distraction, youknow what I mean when you
technically rest, but internallynot, because you're putting
something on pause Good pointInstead of continuing something.
And this is a good point,because people always feel like
(44:20):
I need to meditate, journal,like, do super quiet and chill
things, but again, like gymming,it's high dopamine.
As entrepreneurs, we're alwaysmoving, so we tend to look for
things that always give us superhigh dopamine.
Gym is the perfect example ofthis.
Like it's the first step whereyou can let go of your energy,
you know, and fuel yourselfwhile doing something that, that
(44:42):
that creates high dopamine witha lot of activity.
I think that's like.
That's like kind of like a hack.
Darren (44:46):
It's a glitch, similar
with food.
I also find food veryinteresting too, because
obviously, like, the food youeat is going to obviously feed
your brain, but you can kind ofhack food from a perspective as
an entrepreneur too, in terms ofwhat is it I need for the
business and what does it needfor my body.
That's the reason why I have acoach is my background is in
bodybuilding, he is abodybuilding coach, but we still
(45:08):
all my food is engineeredtowards the business.
Everything I do is engineeredtowards the business that's
super interesting that's the,that's the focus, right?
so, whether it is my villa athome, uh, the way it's
structured, um, going to the gym, the way I come back from the
gym, everything is engineeredfor the business, because I,
like, naturally, wasn't a smartperson, so I have to create that
(45:29):
environment to be smart in thatmoment you feel like there's
going to be a point in lifewhere that's going to switch
around, no, where things aregoing to be engineered around
your life or family or thingslike that, and then I'm already
married so this is a lot ofrespect for that, yeah this is
the argument, uh, people likehave of me, which is like, oh,
he's always working, he's alwaysworking, but I'm actually not
(45:52):
always doing things.
I'm in the environment of it,right.
So at least we'll travel withme everywhere I go.
We work at home and everythingAt least also works in the
company now as well.
So everything is engineeredaround.
That.
Does that make sense?
And we enjoy it, right.
So, just like you do, I enjoyit.
So even the dinners we havewith our teams, they're still
(46:16):
for the business.
Does that make sense?
So you just create a life thatyou don't want to escape from
effectively yeah, exactly, and Ithink that's especially like
the age we have.
Nik Setting (46:25):
It's super valuable
because, again, like the age we
have, it's super valuablebecause, again, like we have
energy.
So it's supposed to be likethat and you're building your
future, yeah exactly you know.
Darren (46:34):
So let's take a bit of a
detour into so we've went
through the organic side, wentthrough the ad side.
Let's go to your stories.
So your stories is super uniqueand I think the way that you've
manufactured and createddifferent archety to your
stories so your stories is superunique and I think the way that
you've manufactured and createddifferent archetypes, your
stories is really, is reallyunique.
And one thing that I've reallynoticed is the fact that a lot
(46:55):
of guys do story formats to getpeople to buy their shit but
they're kind of ineffective,right, because I think people
are getting kind of known to itas well.
Maybe that's my level ofawareness because we're in the
space kind of known to it aswell.
Maybe that's my level ofawareness because we're in the
space.
How do you think about yourstories and how do you think
about the strategy behind it?
Nik Setting (47:12):
we recently run
story ads and it's been going
exceptionally well.
Interesting, it's one of thebest numbers I've ever created
in business, based on everysingle thing that I've ever
tried.
The reason why is becausesupply and demand not
everybody's's using it.
No one is using it Story adsTechnically, stories in general
not a lot of people are using itfor actual powerful conversion.
(47:33):
Now stories are super slow soNobody wants and can commit to
start to it and do itconsistently every single day
because it takes three months tosee your first couple of
results from it.
Meaning people, as we know,always want to see a direct
return.
When they don't see a directreturn, they'll think it doesn't
work and they'll stop.
Now again, longevity comes intoplace.
(47:55):
Where I look at this metricEvery single time a person sees
my story, it adds 1% to thepotential buying power.
So when they watch a hundredstories sequences for, let's say
, a hundred days, they're at apoint of conversion where
they're ready to pay and I feellike that stories are powerful
(48:17):
because it reflects on apersonal situation in that
moment, which is exactly thereason why that separates itself
from YouTube videos where youtalk about a specific topic, or
reels where you talk about aspecific like asset or, you know
, like a myrobor, a data drivensolution.
Now, stories is always different.
Sometimes I drive my car,sometimes I create curiosity in
(48:39):
stories, sometimes I do a CTASometimes, and it's super
personal driven.
So I don't prepare my storiesat all for like two weeks
straight.
It's the only touch point whereI don't have leverage.
What do you mean?
I have leverage in my reels.
I know how to create them.
I have people that help me withit.
I have a team that backs it upSame with YouTube, it's all
(49:00):
systematized.
Same team that backs it up.
Same with YouTube, it's allsystematized.
Same with client fulfillmentfor the big part.
And then, obviously, team andlike setter and closers are all
automated With stories.
This isn't the case, and thereason why is because I feel
like that I create the beststories the moment I want to
like, based on the situationthat I'm in at that day at that
(49:22):
situation.
So I take an hour of my day tomake these stories, but, again,
no leverage.
So it takes up all my time, butit's worth the conversion, it's
worth the longevity of it whenyou post stories every single
day and a new eyeball comes infrom the story ads.
So the ads that I create withfollow me to learn more or
follow to interact, people startto follow me.
(49:44):
They start to see my storiesevery single day and because I'm
consistent, because I almostdon't miss a day, there's going
to be a point of conversionwhere they're going to be like
you have to pay this guy how doyou create your ads for stories?
Darren (50:00):
Is it one slide Like?
What's the mental framework?
One campaign?
Nik Setting (50:08):
five different ad
sets retargeting, ig, the
engagers of the last 180 days.
That's the retargeting campaign.
Broad call folks from Denmark,us for me specifically Germany
and Spain.
Spain yes, I have the mostamount of clients out of these
four countries and UnitedKingdom as well, which is broad
(50:30):
called.
So you exclude the audience ofthe retargeting, it's just broad
called People that don't have aclue about who you are.
And then you utilize targetinglike entrepreneurship, lead
generation, content marketing,social media marketing, high
level achievers.
I'm giving so much sauce away.
This is super valuable whenpeople implement it, so there
are great interests to target.
(50:50):
So you have five different adsets, one campaign ABO campaign,
so manually spend.
And then I have 150 creatives.
I have 150 creatives Anywherebetween 25 to 150 creatives with
such small different angles,prior stories added, with text
added, with a CTA I can seeexactly which one is working
(51:13):
individually.
Well, I create a new campaign,I duplicate it and then I purely
solely run it with the best adset and the best creative.
Do you do your own ads yourself?
Yes, I do my ads myself, yeah,yes, the only people that I give
the actual sauce to how I runads is my clients and myself,
because it's too powerful whenyou know how to run ads
(51:35):
correctly, and people woulddisagree with me with this
because they're always a big fanof organic.
I would agree, but you can relyon organic.
Darren (51:43):
I have a lot of insight
on that dude because my
background's in I love to talkabout that right.
So my background's in organicand a lot of my friends are
organic.
I would call them like organicprincesses, because when you
have an organic background,you're the enemy is ads.
It's bullshit, right, but theenemy is ads.
And you start believing thesethings in the online space that
are just like not true, they'rejust all these things in the
(52:06):
space like ads are bad, callsare bad, like they just.
They just don't know why theybelieve these things, whereas I
believe if you come from organic, you're going to be 10 times
better at ads because you knowhow to show up, you know camera
work and everything so when Iwent into ads last year that's
when I started last year, sofour years into my journey went
into ads.
It was just so easy.
It was like here's the copy.
I'm like all right, that soundslike kind of like a real
(52:28):
whatever.
That's fine.
And then recording this way.
I already have a studio in myhouse at home.
I built the studio from scratchawesome, fantastic, great.
The only issue that the organicguys have is how to run the ads.
I'm just gonna ask you.
I've had a ton of issues withmy ad accounts.
A ton of issues, bro, like aton of issues, new accounts,
just ton of issues and newaccounts and shit, the usual
(52:49):
stuff.
But I guess like that's thenon-media buyer in me that
struggles with.
But what I'm trying to say isthat it's possible.
Same with the paid guys.
The paid guys like WilliamBrown's, a good friend of mine,
william's last business was allbased on uh paid and then he
went into organic and was likewhat the fuck?
This is great.
And then he kind of thought, oh, maybe I don't need paid.
And now he's kind of the samesettling that I'm on is like
(53:11):
boat do boat do it all I justwanted to tell you that.
Nik Setting (53:14):
Why would you
choose?
Why would you hate on organicor hate on ads?
Both is necessary.
You'll create the highestreturn on ads when your organic
problem is solved Right.
It's the unique yeah, so true,man.
So it's so stupid that peopletend to choose for one thing or
hate on the other thing.
It could be a good marketingangle to say, oh, don't do
(53:34):
organic because, whatever right,yes, you need both, everybody
needs both.
And your ads give you the dataon knowing how you could make
organic more optimal.
And your organic stimulates theconversion in ads because
people see credibility assets,they see a testimonial.
People see my Miro videos withdata-driven solutions or a
(53:54):
specific value.
People see my car.
They're like, damn, this guyhas a Porsche Interesting, you
know.
It creates the conversion.
So ads are excellent to createmassive conversion.
Um, and it goes hand in handwith organic and that's the
reason why people always tend tochoose for one specific thing,
but it never works.
Darren (54:14):
They both need each
other and I think the mental
framework here is if you comefrom an organic perspective,
just think about, it's almost asif you're putting out reels
every single day, but you don'tneed to do it.
You know like I was speaking toJeremy Pogue.
You know, jeremy blonde guy yes, awesome guy, such a nice guy,
such an awesome guy.
He's follower ads.
He said he was running them atone point for three months
(54:36):
straight.
Like he's running for threemonths straight.
He was three months straight.
He was busy and he said it wasstill working, still bringing in
leads.
He's still closing them thesame ad.
So I think it's hilarious.
And actually I was at amastermind and I met richard woo
, very big guy on instagram, anduh, they're doing like a
million a month.
And I was like, oh, like what'sthe strategy?
Like what are you doing?
And he was like I just run onead how I gave up porn, found
(54:57):
fade and now I help people builddigital products, and I was
like that's it.
And he was like, honestly, dude, like that's it.
So it's simple.
It's simple but not easy yes andyou can very much uh, which I
did at a time.
I kind of scared myself out ofit because I was like, oh my god
, there's so much work involved.
But I mean going zero to one.
Go zero to one and then hit thenext step up the complexity
(55:17):
isn't within the ad, thecreative.
Nik Setting (55:19):
I can help people
with the custom scripting that
goes extremely well and gives a10X ROAS, but is the 10X ROAS
actually coming from thatcreative?
As you said, right, it comesfrom so many more external
things within the whole funnelthat matter and that's what
people don't understand.
That's why, for example, aspecific ad scripting is a super
(55:39):
good mechanism to utilizewithin your front-end marketing.
Say, I help you build your adscripts automated from an agency
perspective as an example.
Right, but it's not the thingthat solves the problem.
People always think thatcertain things solve the problem
, but normally the problem liessomewhere else and the solution
lies somewhere else than whatpeople actually think, what the
(55:59):
problem is.
That's why people always sayyou sell what people want and
you give them the solution thatthey need.
Darren (56:07):
And that's the way to
become rich.
It's a consult of selling right, finding out exactly what it is
they actually need yes andhaving a suite of products you
know Correct and the more nichedyou look for the problem, the
better the solution will affect.
Nik Setting (56:23):
The solution will
be so much more effective for
the problem that you solve andyou can charge way more money.
You have a way better client,because this is super
interesting I have so manyclients that make like three to
$400,000 per month and the mainreason in the backend of why
they have such good reputationsis not these are normally people
(56:46):
that sell courses.
Right, I'm specifically talkingabout volume based companies
that sell courses.
It has nothing to do with theresults that they get for their
clients Nothing.
They're literally 80 to 90%doesn't get results within these
specific companies, but theexpectations are set right
within the front end.
Can you spend?
yes so expectation setting isone of the most important things
(57:10):
.
When you set the rightexpectations, you don't do crazy
guarantees, you don't overpromise people stuff, you're up
front about the actual solutionthat you're selling and you
explain it in the most clear way.
People take responsibility fortheir own actions instead of
putting the responsibility onyou.
Meaning, if they takeresponsibility for their own
(57:30):
actions and they go throughsomething and they've gotten the
exact thing that they'veexpected and, of course, as we
all know, people don't takeaction.
Whenever they don't take action, they take the responsibility
for themselves, so they wouldnever blame it on the service
provider.
Now are results important,obviously.
Do you need to have astreamlined process to create
the best client results?
Yes, but we're specificallytalking about a specific service
(57:53):
provider that normally, youknow, doesn't really care about
their product, cares more abouttheir marketing, provides
courses on volume, you know andonce to get people these results
, the point I'm trying to makeis that expectations is more
important than outcome.
It's the most important thing,and make sure you don't put the
responsibility on yourself,because if you put the
(58:14):
responsibility on yourself, youhave a hundred clients you can
fulfill.
People are going to be mad.
People are going to be mad atyou.
People want refunds.
People do disputes.
I'm not sure how long it hasbeen since I've never I don't
know when I've had a disputeever.
Darren (58:28):
I've never had a dispute
.
I had someone uh go to the bankabout their card because, um,
it was a huge company we wereselling to this is in the btb
side and uh, this massivecompany and a random finance
manager was like I don't knowwho this company is, and they
went to their bank and then theyhad a huge issue in my stripe
account and then we literallysent them an email and they said
(58:48):
whoops, that was a mistake byme and it goes back to the bank.
You know, and that's the ironywas that I didn't even know what
a dispute was because I wasjust so used to just people just
banging and that was the end ofit.
That was my only ever instanceand the guy literally responded
going that was a massive mistakeBecause our company is called.
It's a different name than whatyou see on the front end.
(59:10):
It was just funny because inthe info space this dispute shit
happens every day, right?
Nik Setting (59:17):
For a lot of people
does.
It happens a lot, and that'swhy the industry has you know,
so like it has given such a vibewhere people think it's like
whether it's a scam or whetherit's this or that, right, yeah,
although I do agree with thefact that most people provide
shit.
Yeah, yeah, there are not a lotof people in the space that are
so good at providing a solutionthat actually creates scale or
(59:39):
that actually createsimprovement or that actually
creates something valuable intothe return on the money that
they've spent, and I thinkthat's something that need to be
changed.
Darren (59:51):
What's the main dream
outcome you have in your offer?
Nik Setting (59:55):
So my whole
marketing runs on my solution.
Right, I don't have guarantees.
When people work with me, I'lltell them you lose your money,
right, if you get your moneyback.
Super simple.
I set the expectation so clearthat there are no guarantees and
things like that.
And I don't need to, because mycredibility I have the best
client results in the wholemarket.
(01:00:15):
So people see that the solutiondoes the conversion, my
marketing does the conversion.
It's like a cycle, right?
I have good marketing, Iprovide client results.
These client results and allthat credibility I put back into
the marketing which feeds mewith more clients.
So it's an endless cyclebecause people know that what I
do works.
People know that what you doworks, which is the reason why
the solution is the maincomponent within a marketing
(01:00:37):
that drives that result.
And I think that's likeincredibly important um based on
outcomes.
I don't want to say anything.
You can just look at thetestimonials and the client
results and then you'll knowbecause you've different clients
, right.
Darren (01:00:50):
It's similar to us, like
you guys in the beginning of
your journey, you guys furtheron um.
It's just interesting, right,because most people are known
for like what their dreamoutcome is, yes, but yours is
more like this is.
So this is interesting, right,because a large angle that we,
we do is like like your youtube,your, because it's basically
(01:01:10):
real, real top of funnel stuffthat we're helping people with,
and then it's I'll actually giveyou an insight, so give a bit
of a backstory.
So we're helping people buildand grow youtube channels and
podcasts and that was great andwe blew the shit out of the
channels and just it's not thatdifficult, right.
So we're doing that for quitesome time and a lot of our
clients were like this is great,but we can't monetize it.
(01:01:31):
But because over the years, Ihad to figure out offers, I was
like, well, yeah, it's simplyjust have an offer on the back
and then what we're talkingabout on the front end.
We connected to the backend andthey're like, oh, that's
interesting.
So we had to add that componentin and this is still undone for
you before it was done with youas well.
So we were now helping themwith the content and then
helping them with their offer,but then the guys couldn't close
the door, let alone a 6k paidin full.
(01:01:53):
So then I was like, well, it'ssimple, you have to run your
calls like this.
And they were like, yes, youneed content, give people what
they want.
So that you can give them whatthey need, which is we need to
teach you sales and how to buildan offer.
So that became the 80, which isironic.
Nik Setting (01:02:13):
Yes, so people
still come in to build, uh, like
an ecosystem of youtube,linkedin, instagram, but it's
actually offers and sales, youknow, and they kind of see that
afterwards exactly because yourwhole job as a service provider
is to figure out exactly whatyour client's problem is and
help them solve that, and theycan think they always think it's
(01:02:33):
something else.
That's the reason why they needyour help.
They need your help becausethey think the problem lies
somewhere else, so they're theytechnically not aware, meaning
you need to help them becomeaware, and the purpose of being
a good consultant or a goodcoach is helping them become
aware about their problem andproviding them the resources,
support, implementation,information, whatever you do to
(01:02:55):
help them solve their problem,and I think that's one of the
most valuable things.
To go back to the point ofsaying you can help different
types of people.
The difference between this ismy solution is personalized, so
it's personalized based on eachindividual client because we do
one-on-one, so it doesn't matterif people start at 10K when
they get to me or 100K.
We don't help beginners.
(01:03:15):
So people that haven't figuredout the business models, like
that makes sense.
I don't want to help them.
They normally don't have thecapital and they don't have the
awareness they need for us toimplement all the systems we
have.
You know the implementation,information, accountability,
communication but the moment yousell a course.
Most of the time, the reasonwhy the core, like the reason
why people say the course is badit's technically not always
(01:03:37):
about the course, because thereare really good courses out
there.
It's because the serviceprovider decides to take anybody
in.
Well, if you take a hundredpercent in, only 10% fits the
exact problem, meaning only 10%of the people get results
because the course is useful forthem.
Darren (01:03:55):
You get my point.
Nik Setting (01:03:56):
90% buys it but
doesn't need the exact solution
the course is providing.
And because the course issystematized, it's a framework,
it's one evergreen asset.
It's going to be super hard tosolve each individual's client's
problem and that's why I likepersonalization so much.
Darren (01:04:14):
Well, this is so
interesting, right, because that
is what consultative selling is, because take a step back.
So like, our methodology islike offers, content, sales.
The order is important becausefrom creating so much content, I
believe that you shouldn'tcreate content.
You know what the offer isbecause I've seen so much as
(01:04:34):
massive content creators justnot be able to sell anything
right.
So it's so much easier.
But a lot of people might comeinto my world or come into your
world and say, look, I don'tneed help my youtube.
You know they probably do, butI actually I need help with my
offer.
But their offer could be great.
They just might need help withtheir sales process, correct?
So then we would look at it andbe like, look, we'll help you.
That no, no doubt.
But this is the thing you needand it's a yes, we have all the
(01:04:57):
other bells and whistles, butthis is the thing you need.
If you, you solve thisbottleneck, this constraint,
under the theory of constraints,all the other shit doesn't
matter, and it's getting peopleto that point, and I think
that's where you sell tobusiness owners.
When you're speaking tobusiness owners, it's like we
agree that these components arein place.
This is the one we need tosolve, and I feel like that's
(01:05:17):
how sales can become easy, andit's so easy.
It's actually easy to trainreps based on that, too right,
because it's like, look dude,you just got to find out where
the issue is and just solve thatone it's so, it's.
Nik Setting (01:05:27):
It's so extremely
easy.
It's same with clients.
When we walk from the front endwhat you just said towards the
back end, it's like look at whateach individual client needs,
you know, also from an emotionalperspective.
Like, what do they?
Some clients ask 10 questionsand some clients ask one
question a week.
Like, like, try to adjustyourself towards knowing what
(01:05:51):
they need.
That's how you make arelationship successful.
You can talk about that more.
That's how you make afriendship successful being able
to adjust based on who's infront of you.
And that's also where speakingcomes into place Knowing when to
speak and how to speak in whatsituation.
Right now I'm in a podcast, youknow.
(01:06:14):
Like tonight I'm dining with myfriends.
Tomorrow morning I'm on aclient call.
Like when you can adjustyourself in so many different
situations and you can makeyourself adaptable while
maintaining leadership.
Or like certain standard withclients, for example, right, you
become so good at fulfillment.
You become excellent at solvingpeople's problems and that's
where you're called an expert.
Darren (01:06:31):
An expert, get paid well
what's your opinion on sell by
chat versus calls?
Nik Setting (01:06:42):
I love selling by
chat.
The reason why I love it isbecause people are paying a
massive amount of money withmassive trust, and that creates
so much longevity.
Because they have seen yourcontent, they trust you.
They technically don't know you, but they still have the balls
(01:07:08):
to pay you $12,000 in the DMswithout knowing you.
And I respect these people alot, always my best clients
always.
So I respect people that areable to make decisions and take
risks, and people always say,yeah, I take risks, but that is
an actual risk and I want themto take that risk because if
they take that risk, I knowthere will be a great client.
(01:07:30):
There has never been someonethat DM closed that hasn't been
a great client, and I'm at apoint right now with my clients
where I absolutely love eachindividual client I have.
I work with amazing clients,it's excellent and it fuels me,
whereas when I run the agencyback in the day one and a half
year ago, it was a done for yousolution.
I work 70 hours a week.
(01:07:51):
I had 25 virtual assistantsworking, managing, providing a
solution that was hard toprovide, and I worked with
companies, but I didn't workwith great people.
You understand the difference.
Darren (01:08:04):
So one of my mentors
said to me if you provide a
service to other people, you'llalways be a servant of them in
many ways.
So if you imagine like a RomanEmpire, if the writer at the
Roman Empire is writing down thewords of the emperor and he
makes one mistake, he loses hishead.
He gets the head chopped offbecause he's always a servant to
that person, whereas inconsulting and coaching, you
(01:08:27):
liberate other people, you givethem the tools and, as a result,
they feel empowered.
I think it's a beautifulexample of why service delivery
can be looked down on a lot oftimes.
I would completely agree.
And it's unfortunate, right?
Because the people that provideservices people, they, they do
so much and they are so talentedand that's why they're so good
(01:08:49):
at coaching, but they have lowself-esteem because they get
battered over their head withtheir clients all the time yes,
you know absolutely.
Nik Setting (01:08:57):
The type of client
you attract reflects on
everything.
It even reflects on your wholefulfillment, on the type of
client results attract reflectson everything.
It even reflects on your wholefulfillment, on the type of
client results you get on yourmarketing, on the better clients
you attract, the bettermarketing.
You have to attract betterclients.
Yeah, it's a cycle, it feedsinto everything and that's super
, super valuable because it hasa drag.
Darren (01:09:20):
Negative clients has a
good drag on the business
overall and that's why you'llnever scale.
That's why you'll never do well, that's why you'll never kind
of cap out.
So what's your sell by chatprocess?
And then when would you say youneed a call?
Nik Setting (01:09:39):
the moment the chat
.
The chat isn't a sauce.
The chat is just payment link,pay done.
It actually happens in theconversion.
So, for example, within mystories, within my reels and
with my YouTube videos, I'msuper upfront to people and
nowadays in this market we're ina situation where people
(01:09:59):
respect other people that aresuper upfront and
straightforward.
Good point the moment you'resuper upfront and
straightforward, I literally sayin my story sometimes I'm not
looking for more clients rightnow, pay me next week.
And people are waiting, trustme, people are waiting.
So next week when I do a CTA, Isay, okay, ready Offers, 12k,
you can pay me.
People are in the DMs, ready topay, meaning it's not always
(01:10:22):
driven on a CTA specificallywhere I say, okay, dm me the
word info if you want to scaleyour own consulting company.
It comes down to a perspectiveof indirect marketing where I
constantly push value-basedmarketing in a way where, for
example, if somebody DM closes,I make a screenshot.
Say, here another guy calls inthe DMs, it incentivizes more
(01:10:42):
people to pay in and DMs itincentivizes more people to pay
into DMs.
The more you talk aboutsomething, the more people you
attract that want that exactsame thing, because they're
going to think, fuck, this guypaid into DMs.
I don't want to look like aloser.
I don't want to hop on a callwith Nick's team, spend an hour
asking questions, yeah, and thenpotentially pay like I don't
want to be like that, yeah, andthat's also how I segment a
(01:11:05):
specific group of audience right.
Darren (01:11:07):
Such a good point, man.
That's such a good point.
That's an amazing point, dude,because, like you have to, you
have to do what you want yourclients to do, which is like
buying a portion full, so thepiff is portion full.
Nik Setting (01:11:23):
I said, I bought my
portion in full and the reason
why I did this is really becauseof the reason that I want to
respect my clients.
Now, obviously, this is anincredible marketing asset and I
use this marketing asset aswell, but the fact that I can
say that I bought it in full isone of the most valuable
marketing assets that I have andone of the most valuable
(01:11:43):
sentences that I can say onpodcast, on person, with friends
or whatever right With clients,for people to see that I
practice what I preach, becauseevery single thing that I teach
is what I do myself and it works, because you can see where I'm
at, where my clients are at.
My clients have public names.
Everybody knows my clients.
Everybody knows my numbers.
I share my numbers.
(01:12:05):
People see my youtube videos,they see my I want to say stripe
dashboard, but I don't utilizestripe anymore.
Stripe is terrible and you seewhat can you use.
Can use like its promotion, butit doesn't matter.
You can use WAP, you can usefan bases, you can use things
like that, but I really like touse bank transfer, true.
Darren (01:12:26):
It's no you know,
Especially if you're not doing
like reoccurring.
You know it's just lesscomplexity, you know For sure
yeah absolutely.
Nik Setting (01:12:36):
I think, like with
the type of clients I track
right now, bank transfer issuper easy, same with crypto.
It's super easy.
Yeah, um, but yeah, when you,when you sell an offer for five
times a day, payment processor,just the link, a stripe link or,
uh, any specific link, yeah,that you can use is going to be
so much easier do you um?
Darren (01:12:56):
do you have a
reoccurring element to?
Nik Setting (01:12:58):
your business.
Yes, after six months peopleupsell.
So we have a six month processwhere we help clients one-on-one
, we guide them, we scale themand, yeah, our retention rate is
incredible.
So we upsell a lot of clientsin the backend for a yearly
offer.
Darren (01:13:15):
Okay, so they move more
into like another mastermind
effectively.
Nik Setting (01:13:17):
Correct, and the
beauty is the problems are more
complex but at the same timemore simple, right they're
harder, but simple and meaningthe most valuable things that I
teach.
clients that are clients for twoyears require the least amount
of time.
Make the most amount ofprogress.
(01:13:40):
Make the most amount ofprogress.
There are clients that hop on acall with me for 15 minutes
every month while I'm in my cardriving, while I go to dinner.
Quickly, WhatsApp call done andnext month they'll send me a
message.
Yo, Nick, I scaled from 210K to370K in one month because of
that one call, and that's wherereal value comes into place.
Right Put your finger, Valueisn't measured by time.
(01:14:02):
It really doesn't matter howmuch time you spend on something
.
As long as you know exactlywhat that person needs for them
to scale their company, they'llblow up.
Darren (01:14:12):
That's super interesting
man.
My mentor says to me the moreyou pay me, the less I give you.
Yeah, he just knows where toput the finger.
What's your?
How is instagram versus youtubewarming up for you?
Because youtube is.
You're about to postinconsistently again um like,
(01:14:32):
how much clients, whatpercentage do you think comes
from youtube right now?
Nik Setting (01:14:35):
instagram stories.
I think right now, like around60 to 70 percent comes from ads.
Top of the funnel, obviously,really yes, but a lot of
conversion happens on Instagramand on YouTube, and then 30%
organic as well.
We have a super high referralpercentage as well.
So, like people know me, theysay okay, nick Selling, have you
seen his stuff here you go done.
And clients referring otherclients where they get a 10%
(01:14:58):
commission.
That's also an income stream,for sure, but again, we don't
want to be dependent on that.
The ads is something that'spredictable and consistent,
meaning we can decide how muchmoney we make and the direction
we want to take it in right.
When it comes down to YouTubeand Instagram, instagram is for
nurturing.
Youtube is for conversion.
Every single person sees myYouTube videos, interesting
(01:15:19):
Every single person.
Without my YouTube, theconversion will be complicated.
Although interesting everysingle person.
Without my youtube, theconversion will be complicated,
although my instagram is againsuper niche, specific, meaning
it does a lot of the conversionwork already.
But youtube is definitely theplatform where people are like,
yeah, this guy is he.
Darren (01:15:34):
he really knows what
he's talking about but sorry,
they buy on instagram, but theythey complete their own decision
making through youtube.
Nik Setting (01:15:43):
It's an ecosystem
so that's the the best thing.
Yeah, and the reason why I makethe money I make is because
people cannot get rid of meuntil they pay.
Yeah, they cannot get rid of me.
So, whether it's they heard,they hear me, they hear
something from a friend, or theyclick on this link, they'll go
to that link.
They'll click on this link.
It's a whole ecosystem andthat's the reason why I said
(01:16:05):
organic and ads.
You combine them togetherInstead of doing one separate
thing.
You'll combine them togetherand do both right.
Basically, the funnel that I'vecreated is perfect because each
component stimulates each other, which creates massive scale.
They'll see my organic.
They go through my ads.
(01:16:25):
They can just not get rid of meuntil they pay.
Do I mind if they're going totake six months for that or two
months?
No, I don't mind, right?
I just want to make sure theypay at a certain point, whenever
they're ready.
Darren (01:16:39):
Yes, when do you think
your weak spots lay?
What's something you're workingon?
Nik Setting (01:16:46):
That's a good
question Do I have weak spots,
absolutely In business?
I think I sometimes feel likeand this is super interesting
but the things that you're mostbusy with are always also things
you think you do wrong, right?
I feel like I haven't even gotenough data on on improving the
(01:17:14):
things that I want to improve on, which I see it as a negative
improvement, as a weak point.
So, from a perspective ofpeople, they think I have a lot
of data and I do.
I have massive amounts of data,but I do feel like I can get so
much more.
And this also reflects on thestandpoints of always willing
more, right, because, like, Ifeel like the biggest problems
(01:17:35):
are internally, because that'swhat reflects on your business
all the time.
So I feel like the biggestthing that I can improve on is
reflecting and knowing thesituation that I'm in.
Knowing what I have, will kindof learn me to how do I
formulate this the right way?
(01:18:08):
I think sometimes I get into thestruggle of feeling I don't
have enough, which constantlypushes me to get more of
something.
But that's infinite.
You get where I'm coming from.
It's double-edged sword,correct, and there is never an
end at infinite, so it's neverenough technically right, and
not having enough is goodbecause you constantly push
yourself to get more.
That's a super good quality,that's a super good skill.
But you also need to understand,um, the point of you know, like
(01:18:33):
, like, I feel like that Istruggle a lot also within my
personal life with I always keepworking more and right now my
situation I could see myselfwork 12 hour days for the
upcoming like 50 years basedmore.
And right now my situation Icould see myself work 12 hour
days for the upcoming like 50years, based on my situation
right now.
Because technically, yourmindset goes into like, okay,
the more you work, the more youmake, which is completely right.
And I also disagree with thestandpoint of saying like the
(01:18:58):
more you work doesn't mean themore money you make.
I technically think that's notalways true.
You just need to make sure youdo different work and the right
work and the right work.
Yeah, so you can work 12-hourdays, you'll make more money
constantly.
You just got to make sure youdo the right work in things.
Darren (01:19:13):
And there's a lag too.
Right, like I don't give a shit, I'm happy to share.
Like we had a really good dayyesterday and then this morning
I woke up we had done like 2700before I woke up and then I was
like, right, well, it's onlyseven.
We could probably do like 12ktoday, like we can now before
back in the day.
I would make 12k in a month,right and it's like now I have
(01:19:34):
the infrastructure, the team inplace.
Like five calls in the calendarokay, close, like one or two,
fantastic you.
You, that lag didn't happenovernight, man lag didn't happen
overnight, man right, it didn'thappen overnight, it happened
over a long period of time, longperiod of time getting one
thing right, the next thingright, the next thing right, and
then you are lucky, and I thinkthat's an important point,
(01:19:56):
right is for you.
You're creating so muchinfrastructure that that lag of
success is just going tocontinuously increase.
And then I guess it comes downto the point of the way I always
frame.
It is like I have everything Ialready need.
I'm, I'm married, I have abusiness, have my house, have my
dog, have everything I need I'mplaying for like bonus points
and, as a result, it's like fun,great team, great culture.
(01:20:18):
There's yes, there's problems,you know, but it's great though.
We enjoy it.
So I wouldn't see a scenariowhereby I'm not doing this
that's interesting right Iwouldn't see a scenario where
I'm not doing this becauseinsert what I'm doing would
fucking b2b, sass and it's thesame shit.
Good team, good problem we'resolving.
It's fun, it's enjoyable.
Nik Setting (01:20:39):
New challenges,
that's such a good point and
that's where I struggle with, atmoments where I'm like, okay,
I'm looking for the infinitemeaning, I never have enough and
maybe I'm not always happy withthe things that I like, I'm not
always feeling how grateful Iam for the things that I do and
being at a point of um abundance, you know, where I feel like,
okay, I already have so much.
(01:21:00):
I don't enjoy that specificmoment, do you struggle with
money.
Darren (01:21:04):
Spending money, yes, I
do too.
Yeah, it's been a inflectionpoint because I grew up very
poor.
Nik Setting (01:21:12):
I know where to
spend my money towards to create
returns, so I'm super good inin spending money on business in
this way, but at the the sametime yeah, that's a good point I
have a hard time spending money, you know, sometimes even in
business, but I've learnedcertain things with A players
and team and ads.
The biggest mistake I made inbusiness at the moment I had a
(01:21:34):
12-act row as a year ago notspending 10x the amount.
That's the biggest mistake Imade.
Darren (01:21:39):
The moment you know
something works, you need to put
all your power and all yourcapital and resources into it to
make it as best as possible Ifeel like the entrepreneur
adjust the spending in thebusiness because, like for us,
like we do spend a lot in thebusiness, uh, like, I'm open to
spending more, hiring more.
(01:21:59):
Yeah, we need more editors,cool, fine, because it's not for
me, it's for the business, andthat's bullshit, right, that's a
bullshit mindset.
Because it's like for x, it'slike my wife right, if she needs
something, we might go to thedoctor.
I'm like, yeah, yeah, cool,just might be.
Like doctors expensive, right,private doctors expensive, gotta
, gotta pay for it.
But then what I'm saying, in apersonal life, on your own, do
(01:22:21):
you spend the money on yourself?
Do you value yourself to takecare of yourself?
Right, does that make sense?
Nik Setting (01:22:27):
it does I don't do
that enough.
Yeah, not at all it's like arespect and value thing again,
exactly, and also going back tothat infinite point, you know
like you never have enough, thatfeeling you're constantly
striving for something more.
That isn't there.
Technically, you get my point.
And that reflects also on nottaking the time for myself on
sundays, for example.
(01:22:48):
I always work, so I work for 80hours a week.
I don't do anything else andobviously in my content it looks
like I'm doing somethingdifferent, which is fair right,
because I do go on a clientretreat and I have fun, for sure
.
But I work so much and I'mgonna grow even faster when I do
decide to take sundays off toreflect, to do fun stuff with
(01:23:10):
great people and to create spacein my mind to think.
You know what I mean, becausethat's super important as well,
and I learned how to delegatethings with my company to create
that space from a businessperspective.
But if I do learn, for example,how to take Sundays off and not
work at all, I think I grow alot faster.
Doesn't mean it's not difficult.
Darren (01:23:31):
It's insanely difficult,
we both know, yeah, for sure,
but it's super important youknow, and that's definitely one
of my weak points like if youhave an element of rumination in
your mind where you ruminate alot on things that made you
successful because it made younot watch the football game and
instead do things.
but again, it's a double-edgedsword it's like the people that
(01:23:54):
make 10 million a month do less.
You know they're not fuckingtaking 100 client calls every
two minutes because they know,like, where the energy flows and
where the frequency is andwhere to put their finger on to
get that 10 is leverage activity, what they need to do to make
their company move to the nextlevel.
Nik Setting (01:24:15):
Yeah, that's why
it's also like super difficult
to say, okay, when do you stopwhat we said right?
When do you stop working less?
It depends on your point ofsatisfaction.
Like, are you excited and happywith a million dollar a year
company, $10 million a year,$100 million a year, or do you
want a billion dollar company,right?
It depends where your valuesare at, the outcomes you want to
create for yourself, the peoplethat you have around you.
(01:24:37):
But technically you can alwayskeep building, working, working,
working.
And it's also what do you givepriority Money isn't everything
in life which I had to learn.
There are things that are waymore important.
Money is just a tool that weutilize to create freedom, or to
create scale in companies, orto you know things like that.
(01:25:00):
So that's super interesting.
Darren (01:25:02):
Is there anything super
long-term you want to achieve or
build?
Nik Setting (01:25:08):
I was at the
Atlantis yesterday with Isaiah,
my ops manager, and we weretalking together and he said
like the only thing that we careabout is becoming as big as
possible, because I know I'll bethe biggest, like I really
fully have the confidencebecoming as big as possible
because I know I'll be thebiggest, like I really fully
have the confidence in everysingle aspect that I will be the
(01:25:30):
biggest in five years.
But the most important valuecomes into place that I want
brotherhood, I want to buildthings with great people and I
want to build a family.
That's such a good feeling.
Isaiah works for me for twoyears.
He is so extremely loyal to thecompany, he is so extremely
good at what he does, he is onmy level and I know he will stay
(01:25:54):
with me for years.
So the most valuable thingcomes into place because,
technically, I have money, Ihave everything I need to live
my life on my terms, but it'stechnically building that family
in my company and then buildingreal family yeah, that's
everything man like.
Imagine my company can take careof so many different families.
(01:26:16):
It can create brotherhood, itcan build a family within the
company.
That's everything I need.
That's everything I ever want.
Darren (01:26:23):
Dude.
It's so interesting.
One of my employees, magno.
He joined us when he was inschool in Brazil, so he was
finishing high school at 17.
And then he missed a teammeeting like a month ago and I
was like, ah, chill.
And he was like, ah, I'm outbuying my first investment
property.
He's 19 now.
Wow, fucking awesome.
He's 19 now.
Wow, fucking awesome, dude.
And I think that creates theculture.
(01:26:43):
We do company retreats as well.
In bali.
They're going to come for ourmasterminds.
Um, another guy like vietnamlifelike change.
I think that's the biggestimpact you can have is true.
Your content too.
Even the free people who don'tbuy anything, is.
This starts the journey.
Well, if nick can do it, I cando it, and I think I know that
you're you've only been kind ofwell getting known in the past
(01:27:06):
year, but in five years timebecause this is what happened in
five years time you'll bespeaking on events and some guy
will be like five years ago, Iwatched that real, I watched
that podcast yeah, I thinkpeople underestimate how
difficult it's it actually isthinking from a longevity
perspective.
Nik Setting (01:27:25):
People always say,
yeah, I understand, but if you
really do, you take differentactions and I think it's super
important that you think indecades and not in months.
Where do you want to be in amonth?
Yeah, it's not importantcompared to you want to be in
like 10 years from now.
And when you start to thinkthat way, you start to reflect
it on yourself into takingdifferent types of actions.
(01:27:47):
That's why, the most importantthing, for every single hire you
make, you make people see thevision.
A players wanna see a visionand they want to have the trust
in you that you can be theleader in accomplishing that
specific mission or vision.
Right, that outcome.
When they see that Not,important.
(01:28:08):
I said exactly the same thingwhich is when they know you will
become the biggest one.
Darren (01:28:13):
The payment is
unnecessary.
It's nothing.
Nik Setting (01:28:15):
It doesn't matter,
because they know that you will
be the leader that takes care oftheir family in the future.
They know that they will beworking with the biggest company
.
They will literally be part ofthe biggest company ever and
that's the most important thing.
And I don't treat my company atall as my company.
It's not my company, it's ourcompany, and that is one of the
(01:28:39):
most important skills that youlearn as being a leader.
It's like you know you helpthem build something instead of
being their boss, and I think alot of people struggle with
leadership.
I think it's one of the mostimportant qualities besides
communication.
I do definitely thinkcommunication is number one, but
second in leadership.
If you build a company, youwant to grow it past a million
dollars a year.
Leadership becomes the secondmost important component Because
(01:29:01):
your people drive your teamright.
Yeah, 100%.
Without your people, who areyou really?
Yeah?
Darren (01:29:06):
Such a good point.
Such such a good point becauseyou'll be at that cap and I
think it's the true statement.
As always, like your, your ownpersonal development, your own
business development, is alwayscapped by your personal element.
So if you're someone thatpeople don't want to follow,
well then your business is notgoing to grow, it's not going to
take off.
I want to ask you about, like,even your personal relationships
, like are you, are you in arelationship now?
(01:29:27):
Do you, do you have like aromantic partner?
How does romantic partner?
How does that fit into theecosystem?
Nik Setting (01:29:34):
I don't have a
relationship at the moment.
I'm really focused on what I doright now and I feel like my
time is spent perfectly in theway I do things.
Now.
My goal is to marry at 25.
Awesome.
That's why I have a friend.
(01:29:54):
His name is Quinton, he ismarried, he's 22.
That's why I have so muchrespect for what you both do.
My goal is to marry in fiveyears.
I feel like people always say,okay, you marry when you're 30.
I disagree with that, becausethe most valuable thing in life
is family, always, and I thinkeverybody internally knows maybe
(01:30:16):
not externally, but internallyknows.
So the faster that opportunitypresents itself, the faster you
have to take it Now.
Are you gonna force thesethings?
Absolutely not.
When you force it, it's notgonna work and you have more
experience so you can tell meall about it.
Darren (01:30:30):
But that's my goal and
when my energy is open to it, I
know I'll make it happen anddude, the focus you have when
you're married is hilariousbecause you think you think
before you're driven, but whenyou are now responsible for
multiple people, you becomesuper, super focused.
(01:30:50):
Dude, because I remember theday that we got married, the
next day I just like went, likethe pressure just goes up and
then you either rise or thepressure you fall, and for me it
was just like step up and it'shilarious.
If you track when we gotmarried, which was in october of
last year, the business hasjust gotten like this since.
Wow, because there always is asecond component, right and like
when you, I've always takencare of elise, but I mean, I did
(01:31:12):
it in a kind of a kind gestureway.
She doesn't, she doesn't need meto help her, but she doesn't
work, and that was a voluntarything.
That we decided was that shewould stay at home and then I
would work, but a lot of it wasin good faith.
But then when you're married,it's like you as the, as a
caregiver or a care provider,need to step up to that mark yes
and things like small thingslike this man.
(01:31:33):
Like you know, elise has hadlike a few surgeries and
operations and she's had issueswith her stomach, and we have
like a private health care in inthailand, in bangkok, which is
very good for health care, oddlyenough.
Um, that stuff isn't cheap andme, knowing what that pat may
look like, it's like I do needto get my shit in order.
Yes, we're health-wealthrelationships and I think it
(01:31:55):
makes you a better person andleader, and I actually gave up
alcohol three and a half yearsago and that was a huge
proponent too in my ability tostep up right.
Respect.
Nik Setting (01:32:06):
I feel like a lot
of guys always say like girls
are distractions.
I never say that and I'll tellyou exactly why.
The guys that say that haven'tfigured out who they are to
attract the right girl.
So it always reflects onyourself.
Girls aren't a distraction toyour business.
Some girls are, but you are whoyou are and you attract a
(01:32:26):
specific girl.
Meaning, if you say that andyou attract the wrong girls and
you think that you're not theright guy, your reality becomes
what you say becomes yourreality.
Exactly, and it comes back toshort-term and long-term.
When you have a wife, you willstay with her until you die,
right Meaning.
If there is longevity, itdoesn't matter, because you know
(01:32:47):
you solve problems and marriageis one of the most difficult
decisions you make in life andone of the most important
decisions you make in life.
Darren (01:32:54):
so when you do make that
decision, that's why I asked
you, because you're super young,super successful, like good
looking dude, well put together.
So a lot of guys your age willsay, oh, I want to make the bag
before I find the woman.
And my argument has always beenthe antithesis of that, which
is you find the partner justwhenever, and then that person
is with you on that journey.
You know, I met Elise when Iwas in loads of debt and just
(01:33:17):
coming to university, like I wasin uni and had a student debt
and shit.
And the money hasn't changed us.
Right, we have some nice things, but it hasn't changed us, our
relationship.
And are you familiar with SahilBloom?
I'm not, so it was really coolguy.
Um, he has an amazing bookcalled five pillars of wealth
young guys early 30s.
(01:33:38):
He was in investment banking inamerica uh, private equity and
making a lot of money in hisearly 20s and then left it all,
went into building his ownbusiness and has gone through
this cycle too and again marriedto his wife very early.
They were like mid-20s collegesweethearts, all the usual stuff
, and I've talked to him at lentabout this in podcasts and we
(01:34:02):
both sell on the same thing,which is it's not about making
the money first, or anything.
It's about finding that rightpartner for you.
And then, when you find thatright partner for you, no matter
if you're sleeping on thestreet or in a penthouse in
dubai, it becomes irrelevantexactly I would agree with that
so much.
Nik Setting (01:34:20):
That's such an
interesting take and that that's
beautiful again, because youwill go through everything and
you'll do everything to protectthat women for the rest of your
life and she'll do everything inher power right to support you
in any way, and I think that'sthat's the best feeling that you
can ever have.
Yeah, having a partner andtrusting that person in any
(01:34:43):
single way.
Darren (01:34:44):
It's only you can yeah,
it works both ways, you know,
because, like, the man providesand then the woman takes, takes
care, right, correct, so, like,if something goes wrong in the
business, I'll often say theleast.
I might just be like, oh,what's your thoughts on this?
Like, would you prefer this orthis, what sounds better?
And just having a soundingboard.
I think it's a massive, massiveleak that, like, online
(01:35:05):
business bros are not thinkingabout online business.
Yeah, no, they're just notthinking about an interesting
take.
No, they're not.
And they see it.
They have just not thinkingabout it such an interesting
take?
Nik Setting (01:35:11):
no, they're not and
they see it.
They have tunnel vision.
They see it in one specific way, which are normally the guys
that don't have experience, youknow, which is completely okay,
but they they're such in atunnel vision where they see
only one thing.
You know, and I think it'sbeautiful when you have a wife,
you can communicate with herabout your business problems in
specific ways.
That's super interesting andsuper, super valuable.
(01:35:33):
You know, and I think obviouslyfor men and women is different.
But even having somebody thatjust listens, you know, I think
I became that person from mymother.
My mom has a struggle sometimesand just knowing because she's
a single mom as a strugglesometimes, and just knowing
because she's a single mom, soknowing that she is somebody
that can, just that she can justtalk to you, that's enough,
(01:35:55):
right, I'm just there to listento her and hear out what she has
to say.
She doesn't need a response.
I don't need to solve herproblems.
She just wants someone to talkto you and I think that's enough
for most people, because thebiggest problem is people always
tend to solve other people'sproblems.
It's good point.
Another point to go into.
I don't have to go in depth butI've, when I was, when I was
(01:36:18):
younger, like there, I have beenlike my parents.
Government money spent a lot ofmoney on me to go to therapists
.
It's like a differentconversation, but the one that
helped me was the one thathelped that.
That helped me solve my problem.
Yeah, I saw the problem myselfand all the other 13 tried to
solve the problem for me, whichis why it didn't work, because
(01:36:40):
nobody can solve your problemsever that's in coaching, in
consulting, in therapy, inrelationships, in friendships.
Nobody can solve your problems.
Darren (01:36:49):
It's impossible, mmm
people only help you solve your
problems.
Nik Setting (01:36:50):
It's impossible.
People can only help you solveyour problems and they can help
you.
Darren (01:36:54):
see right, they ask you
the right questions.
Nik Setting (01:36:57):
So coaching is
which is?
Darren (01:36:58):
helping Coaching is
asking the right question,
correct.
Why do you believe something?
Why do you feel like that?
How do you want to feel?
And I think it's funny becausewhenever anything happens to my
wife, she's upset or whatever.
I'll often ask like, okay, doyou want me to be supportive or
do you want me to be likelogical?
So logical is like we should doX.
Supportive is how do you feel?
(01:37:18):
And she's like, oh, justsupport.
And it's masculine, feminine,male, female.
But it's the same with youremployees, the same with your
team.
Like I have guys and women onmy team vastly different.
My COO, she was in GoldmanSachs, so me and him are just
like to the book.
I'm like, bro, fix this, let'sdo that, let's go here, move
forward.
Many other people on my team Ihave to ask like, how do you
(01:37:41):
feel about this?
What would you do differentlyin this position?
And they will come to the samesolution.
And that's what eq is.
So the emotional intelligenceis exactly understanding who
you're speaking to.
Nik Setting (01:37:50):
Yes, back to the
prospect to you, right yes,
exactly, and that that's that'sunderstanding and being
adaptable yeah, based on who youhave in front of you and the
situation that you're in knowinghow to act, knowing how to help
people and know how to create awin-win, a benefit for for both
.
You know what I mean such agood point, man.
Darren (01:38:07):
Well, dude, I want to
say a huge thank you.
This was such an amazingconversation.
You need to do more podcastsand, uh, I've no doubt, man,
it's just going to keep going upfrom here, and I want to
support you as much as Ipossibly can, man, and I feel
like we have many more of theseon the way you're a great person
, but I really want toappreciate you for uh inviting
me and I think people had a lotof value from this talk together
(01:38:28):
.
Oh, dude, I feel like every 18months we'll do this
conversation and we'll just seethis huge gap between where
you've just been continuously.
You know Promise.
Nik Setting (01:38:38):
Big thank you,
brother.
Of course You're a legend Ron.