Avoid These Top Mistakes

Episode Transcript

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Welcome to the expert empire, the podcast for coaches, consultants, and experts looking to amplify their impact and their income.
I'm your host, Monica Hammond, a seven figure serial entrepreneur with a passion for building and scaling businesses that transform lives. 3 00:00:18,752.993197279 --> 00:00:23,12.993197279 Welcome back to this episode of the expert empire podcast. 4 00:00:23,432.993197279 --> 00:00:35,552.992197279 Uh, in this episode, I want to talk to you about the biggest mistakes that I see with experts, coaches, consultants, speakers, breaking into the high ticket space, right? Building their expert empire, if you will. 5 00:00:36,212.992197279 --> 00:00:46,167.993197279 Um, I have worked with many, many different coaches, Consultants, uh, experts moving into this space. 6 00:00:46,187.993197279 --> 00:00:50,467.993197279 And I have realized there are a few things that are incredibly common. 7 00:00:51,47.993197279 --> 00:01:05,917.993197279 Almost every single person that I've worked with, either in a, like a coaching capacity, if I'm, if they're in one of my programs, or if it's one of my equity partners, where I go in and take a big piece of their business in exchange for doing some for them, right. 8 00:01:05,917.993197279 --> 00:01:07,637.993197279 And mentoring them along the way. 9 00:01:08,27.993197279 --> 00:01:11,617.992197279 Mistake that I see, have seen over and over and over again. 10 00:01:11,947.993197279 --> 00:01:17,677.993197279 is trying to do too much and trying to do everything at once. 11 00:01:17,757.993197279 --> 00:01:42,582.99319728 Now look, there is a system, uh, and an overarching plan to having a high ticket program, an expert empire, uh, that involves a lot of different facets, uh, organic social, really strong sales teams, sales funnels, marketing systems, marketing ops, program ops, and even within marketing, like, Lots of different funnels. 12 00:01:42,582.99319728 --> 00:01:48,392.99319728 So a VSL funnel or, um, an Instagram DM funnel, a PLF funnel, lead captures. 13 00:01:48,392.99319728 --> 00:02:02,232.99219728 Are you going to build your list or are you going to go from the top down and go just try to book calls and make sales? Are you going to do a tripwire Ascension model, right? There's lots of different ways to go about creating your expert empire. 14 00:02:02,272.99219728 --> 00:02:10,722.99319728 And the biggest thing that I see as a mistake from the beginning is trying to do it all at once because then nothing gets done well. 15 00:02:11,752.99319728 --> 00:02:13,512.99319728 And you also can't see results. 16 00:02:13,522.99319728 --> 00:02:21,242.99219728 So like, let's say you have starting out, you have 5, 000 a month to spend on your business, on ads, on personnel, whatever. 17 00:02:21,822.99319728 --> 00:02:36,592.99319728 Well, if you're trying to spend that on hiring a setter and a closer implementing, having hired someone to do click funnels and also running four different funnels for you that you're spending, 20 a day on every funnel. 18 00:02:37,782.99319728 --> 00:02:47,452.99319728 It's not going to work, right? You're not going to get the data and you're not going to be able to focus on the data and the results in a way that's going to move the needle. 19 00:02:48,392.99319728 --> 00:02:51,482.99319728 I really realized this because I am guilty of this as well. 20 00:02:51,482.99319728 --> 00:02:56,892.99319728 In the very beginning, it was like, you know, just about a decade ago, like throw spaghetti against the wall and see what sticks. 21 00:02:56,912.99319728 --> 00:02:58,502.99319728 Like, I'm going to try this funnel. 22 00:02:58,502.99319728 --> 00:03:00,562.99319728 I'm going to try this freebie into this tripwire. 23 00:03:00,562.99319728 --> 00:03:01,332.99319728 Okay, that didn't work. 24 00:03:01,362.99319728 --> 00:03:12,112.99319728 Well, now what I'm going to do? What I found has worked best is focusing on one funnel, giving it a really solid amount of ad spend. 25 00:03:12,172.99319728 --> 00:03:21,972.99419728 I'm talking 500 a day, 200 a day, 1, 000 a day, and really honing in on the data on that one funnel. 26 00:03:21,982.99319728 --> 00:03:23,412.99319728 So let's say it's a VSL funnel. 27 00:03:24,102.99319728 --> 00:03:28,962.99319728 There's so many parts of the funnel that can break. 28 00:03:29,582.99319728 --> 00:03:33,52.99319728 I've had that happen where like, suddenly there was like the pixel on my. 29 00:03:33,422.99319728 --> 00:03:35,752.99319728 Uh, thank you page disappeared. 30 00:03:35,762.99319728 --> 00:03:37,682.99319728 And so meta wasn't getting data it needed. 31 00:03:37,682.99319728 --> 00:03:39,662.99319728 And it totally screwed up my pixel for like two months. 32 00:03:40,302.99319728 --> 00:03:41,132.99319728 Things can break. 33 00:03:41,862.99319728 --> 00:03:44,372.99319728 You got to know what breaks and how to fix it. 34 00:03:44,372.99319728 --> 00:03:44,782.99319728 Right. 35 00:03:45,292.99319728 --> 00:03:56,377.89319728 Um, but yeah, so if you're not focusing, if you're not able to really focus on different parts of your funnel and make an impact in the small areas, that's when it. 36 00:03:56,647.99319728 --> 00:04:04,937.99319728 You don't get the results, right? Because you're not making the tweaks in the ad copy that then you can see the results from. 37 00:04:05,117.99319728 --> 00:04:09,747.99319728 You're not, you know, changing the headline on your opt in page. 38 00:04:09,757.99319728 --> 00:04:18,757.99319728 You're not testing, you know, okay, what happens if I remove the phone number? If I don't have someone actually outbounding people when they opt in, maybe I'll remove the phone number. 39 00:04:18,767.99319728 --> 00:04:22,737.99319728 That'll increase my opt ins by 5 and 10 percent and then you can see how that affects your funnel. 40 00:04:23,407.99319728 --> 00:04:26,522.99319728 But if you're, Trying to just get this funnel up and running. 41 00:04:26,552.99319728 --> 00:04:29,992.99319728 And then you're also running a PLF and you're also running DM ads. 42 00:04:30,502.99319728 --> 00:04:38,912.99219728 There's no time to focus on optimizing and making every part better and better and better, and that's really how you get results. 43 00:04:38,922.99319728 --> 00:04:41,582.99319728 So mistake number one is trying to do it all at once. 44 00:04:41,887.99319728 --> 00:04:42,447.99319728 Don't do it. 45 00:04:42,777.99319728 --> 00:04:44,397.99319728 Just focus on the thing that's going to work. 46 00:04:44,697.99319728 --> 00:04:49,677.99319728 Um, that's why I'm here to give guidance and support on what I see working in the space right now. 47 00:04:50,57.99319728 --> 00:04:51,917.99219728 VSL funnels are obviously really hot. 48 00:04:51,957.99319728 --> 00:04:57,927.99319728 I'm actually flipping the script and going back to long form sales copy to test that as well. 49 00:04:58,267.99219728 --> 00:05:03,887.99319728 So, but I can do that because I have something that's working, I know it's working, and now I can test against it. 50 00:05:03,897.99319728 --> 00:05:06,507.99319728 I'm not just, You know, throwing 10 things out there. 51 00:05:09,27.99319728 --> 00:05:13,477.99319728 The next thing is really having unrealistic expectations. 52 00:05:13,867.99319728 --> 00:05:18,917.99269728 Now I would love to say, you're going to launch your, your program tomorrow. 53 00:05:18,917.99269728 --> 00:05:24,277.99219728 You're going to put ads out and you're going to get a flood of calls coming into your system and you're going to close a hundred percent of them. 54 00:05:25,7.99319728 --> 00:05:30,797.99219728 That's probably not going to happen, right? Uh, if that happened, then everyone would be doing it. 55 00:05:31,27.99319728 --> 00:05:31,597.99319728 And. 56 00:05:31,987.99319728 --> 00:05:38,907.99319728 They're not, right? There's a reason why, um, it takes time to build this type of program, although it can be pretty quick. 57 00:05:39,297.99319728 --> 00:05:47,677.99319728 Uh, if you watched my last episode, I talked about Justin, who's already enrolled 80 people into his program within the first 6 or 7 months of launching, which is pretty incredible. 58 00:05:47,687.99319728 --> 00:05:58,127.99219728 So, it's definitely possible to do this quickly, but there are expectations in mind sometimes that it should be easier. 59 00:05:58,702.99319728 --> 00:06:02,922.99319728 Right? Like, I hear it all the time, like, Oh, I had one funnel working, and I've felt this way too. 60 00:06:02,922.99319728 --> 00:06:06,862.99319728 Like, I have one funnel working, and then it just stopped working all of a sudden. 61 00:06:06,882.99219728 --> 00:06:09,102.99319728 Like, oh, it should be easier than this. 62 00:06:09,302.99219728 --> 00:06:18,902.99319728 And the answer is like, no, it kind of shouldn't, right? If it was that easy, like I said, everyone would do it, and then no one would get results. 63 00:06:18,982.99319728 --> 00:06:23,207.99319728 Right? So, It's not always easy. 64 00:06:23,237.99319728 --> 00:06:24,277.99319728 Sometimes it's easy. 65 00:06:24,277.99319728 --> 00:06:28,827.99319728 I had a beginning of the year, I was just sitting pretty, and like, all my funnels were working. 66 00:06:28,827.99319728 --> 00:06:32,457.99319728 I barely had to do anything to, you know, optimize them. 67 00:06:32,457.99319728 --> 00:06:33,567.99219728 They were just doing great. 68 00:06:33,607.99319728 --> 00:06:37,7.99319728 And then, March came, and things changed a little bit. 69 00:06:37,17.99219728 --> 00:06:38,117.99219728 Things are seasonal. 70 00:06:38,507.99319728 --> 00:06:42,187.99319728 Um, ad creative fatigues, and audience fatigues. 71 00:06:42,427.99319728 --> 00:06:50,257.99319728 Your messaging, uh, gets tired, a competitor comes in, right? It's never, no business is ever going to be just a set it and forget it. 72 00:06:50,537.99319728 --> 00:06:56,377.99319728 No business is just going to be easy, right? That's a personal pet peeve of mine that I've had. 73 00:06:56,987.99219728 --> 00:07:01,502.99319728 Partners, clients, friends, uh, say before. 74 00:07:01,502.99319728 --> 00:07:04,862.99319728 And it's like, like, no, it's not going to be easy. 75 00:07:04,872.99319728 --> 00:07:08,842.99319728 And I'm not here to sell you the, you know, four hour work week dream. 76 00:07:10,32.99319728 --> 00:07:18,2.89319728 There are certainly ways to reduce, reduce your workload, outsource certain things, but ultimately you're building a business and that takes some effort. 77 00:07:18,92.99319728 --> 00:07:28,252.99319728 Right? So trying to get it all done at once and having unrealistic expectations are two of the biggest mistakes I see. 78 00:07:28,262.99319728 --> 00:07:38,192.99319728 In addition to lack of focus, which is kind of in there with trying to do it all at once, but you really just need to focus on first and foremost your, your program. 79 00:07:38,202.99319728 --> 00:07:42,2.99319728 How are you going to get people results? Because that's what they're buying. 80 00:07:42,542.99319728 --> 00:07:45,542.99319728 And if you can deliver incredible results. 81 00:07:46,22.99319728 --> 00:07:47,402.99319728 That's going to build word of mouth. 82 00:07:47,412.99319728 --> 00:07:48,552.99319728 That's going to build referrals. 83 00:07:48,562.99319728 --> 00:07:54,292.99219728 That's going to be your best asset is having an amazing program that delivers amazing results. 84 00:07:54,292.99319728 --> 00:08:04,197.89319728 Because ultimately that's hopefully why we're all in it, right? Like I know for me, I love working with people and making an impact and that's how I amplify my impact. 85 00:08:04,337.99319728 --> 00:08:12,897.99319728 Right? I'm helping coaches, consultants, experts go from working with just a few people, making a smaller impact to making a much bigger impact. 86 00:08:12,907.99319728 --> 00:08:17,577.99319728 So, uh, that was actually something really cool that my business partner, Chip, said to me recently. 87 00:08:17,847.99219728 --> 00:08:23,737.99219728 We've grown his group coaching program to almost 200 people at this point, um, over the last couple of years. 88 00:08:24,67.99219728 --> 00:08:34,707.99319728 And he was saying that, You know, I've impacted his life, made his life better, but I've also made the lives of hundreds of restaurant owners better, which felt really good because I had never really thought of it that way. 89 00:08:34,747.99319728 --> 00:08:39,227.99319728 Right? Like I'm here thinking that I'm making Chip's life better, like for sure. 90 00:08:39,777.99319728 --> 00:08:43,897.99219728 He takes Thursdays and Fridays off to go golfing and spend time with his family. 91 00:08:43,897.99219728 --> 00:08:44,987.99219728 He's been away every weekend. 92 00:08:44,997.99319728 --> 00:08:48,467.99319728 Like he's living his dream, but I hadn't really thought about. 93 00:08:48,897.99319728 --> 00:08:51,857.99319728 The impact that I have been making beyond him. 94 00:08:51,897.99319728 --> 00:08:52,957.99319728 So that was really exciting. 95 00:08:53,57.99319728 --> 00:09:07,747.99219728 So I hope this is helpful in terms of the mistakes that if you're just starting out in this industry, if you're just starting out building your own expert empire, thinking about how you're going to do this, um, pick something and stick with it. 96 00:09:08,537.99219728 --> 00:09:09,57.99219728 And. 97 00:09:09,472.99319728 --> 00:09:17,2.99319728 Try to set realistic goals and expectations, right? And just know if something's not working, maybe it needs some small changes. 98 00:09:17,292.99319728 --> 00:09:25,632.99319728 Maybe you do need a total strategy shift, right? But if you're focused, then you can really, uh, get the results that you are striving for. 99 00:09:26,352.99319728 --> 00:09:30,22.99319728 That's it for this episode of the expert empire podcast. 100 00:09:30,552.99319728 --> 00:09:33,152.99319728 I'm your host, Monica Hammond, and I'll see you next time.