Have you ever thought about creating a business or taking your existing business to the next level of success? If so, I want to invite you to something special today.
I am launching a new course on how to double your business in three short months. And to give you a taste of what the course is like, I am sharing some of the core tenets of the course in this episode.
So many of you have the desire to create or double your business, but don’t take advantage of the opportunities right in front of you. Entrepreneurship is directly in line with what our brains are meant to do: innovate, evolve, create, fail, and learn from our failures.
In today’s session, I share how to create a business that flourishes and what prevents us from growing. This show will give you some insight into what my course is like and, even if you aren’t an entrepreneur, the content in this episode and the webinar will guide you towards achieving your goals.
Click here to watch my webinar as I explain what to do to take your business from zero to $10k or from $5 Million to $10 Million in a matter of months.
What you will discover
- Why the first $100k is the hardest money you’ll ever make as an entrepreneur.
- How amazing it is to be rewarded for value-creation.
- The core tenets of business building.
- The exact equation you need to scale and grow your business.
- Why discomfort and failure are the pathways to success.
- How to constantly increase your capacity to succeed.
Featured on the show
Welcome to The Life Coach School Podcast, where it’s all about real clients, real problems and real coaching. And now your host, Master Coach Instructor, Brooke Castillo.
Well hello there, my friends. Today is a good day. It’s been an amazing time. I just got back from Lake Tahoe with my family. My boys came and brought their friends, my parents were there, my friends were there. We had an amazing time being on the lake because we had a house right on the lake, so we didn’t really have to go anywhere.
So we were just out in the sunshine on the beautiful lake, the kids were surfing behind the boat, playing lots of music. We played a lot of games at night. I had my birthday, my son had his birthday. It was just an amazing time.
And while I was there, I got a text from one of my friends inviting me to an amazing mastermind that I’m very excited about going to with about six other people who are making about the same amount of money as me or more. So 30 to 100 to a billion dollars. So we’re going to have a mastermind at another lake house and talk about business.
And you all know how much I love, love, love to talk about business, and I’m working with a group of women on their businesses right now that are trying to get to 100K. I know that most of you know that I have my millionaire mastermind group where I work with a group of women who are already at a million, who are looking to get to 10 million.
That group - I just met with them as well. I actually met with them when I was in Lake Tahoe. Then we had a great conversation about how our businesses are doing and how there’s such an amazing feeling when you are an entrepreneur who has full responsibility for your success and failure.
And when you’ve gone through challenging times and come out of those challenging times, even more success than you were when you went into them. And every single one of us has done that. We have all used the challenges of this year to make our businesses better and stronger for ourselves and for our customers.
So I’m also working with another group of women, about 32 women who are trying to get to 100K. And if you’ve ever worked with me, you know I’m pretty direct. I’m pretty aggressive. I’m pretty demanding. If we’re going to work on getting you to where you want to be, we’re going to have to overcome all of your doubts and fears and frustrations, and I have to be pretty direct to kind of shake you out of that and to bring you to a new identity.
And as I was working with these women and I was talking to them about some of my ideas, I realized that I have really evolved some of my business ideas since the last time I taught a business class. I taught recently at mastermind, I taught how to be interesting course, which is I think some of my best marketing work that I’ve done.
I think the content in that class is game-changing when it comes to the business. But I’ve also kind of expanded on some of those ideas and constrained some of them as well to work with these students on how to get to 100K as fast as possible.
Making your first 100K is the hardest money you’ll ever make as an entrepreneur because it is the first identity change that you’re making, typically from an employee to an entrepreneur. So there’s the most mental work that needs to be done.
So I wanted to extend that content and that work to y’all. For all my podcast listeners, I wanted to give you a taste and an invitation to come into Scholars and spend the next three months with me building your business. I’m going to be teaching courses twice a month in there, in-depth courses on doubling your business.
And it was funny. I was on vacation with my friend Tonya Leigh, and she’s working on her business. She’s taking it from two to four million, and when I was creating the class, I was sitting down outlining it and kind of going through some of the content. She’s like, tell me everything that’s in that class, I need to know it right now.
She’s in Scholars too, but she’s like, I can’t wait until you put it in Scholars, I want to know it all right now. And I was like, you know what, you really do. This content is so good. And it’s really practical and applicable.
I want to make a note that some of you who listen to the podcast aren’t necessarily entrepreneurs. You don’t necessarily need help on doubling your business, but I want to encourage you to listen to this podcast even if you’re not an entrepreneur because so many of the concepts in here can be applied to any goal that you’re trying to achieve.
And I’m just going to share a little bit on the podcast here some of the ideas and concepts, but I want to encourage you if you’re already in Scholars, to come to these classes live so I can coach you and ask questions. And I want to talk to you about the life of an entrepreneur.
I do feel very strongly, especially lately, in the power of entrepreneurship and capitalism and the ability to be part of a society where you are rewarded for cooperation and value creation. By creating value for the world, people vote for your value by paying you money.
It’s like the ultimate in democracy. It’s the ultimate in freedom. And there are so many of you who have the desire to build your own businesses, who don’t take advantage of the opportunity. And one of the things that I want to offer, for those of you who are entrepreneurs or not is that we take a moment and appreciate that opportunity.
Being an entrepreneur with the ability to create any business you want and get paid for it is not something that every person has and it’s not something that many of our ancestors could even contemplate. And so the fact that we have this opportunity I think is important. I think it matters.
And for me, for one, I feel very strongly about utilizing my opportunity and being an example of what is possible, and taking what was hard one for me and appreciating it and utilizing it. And in doing so, I create so many more opportunities for the people around me. For my employees, for my coaches, for my contractors, for the suppliers that I work with, for my family, for my friends.
Being able to put value and serve the world and work hard at doing that and being rewarded for that is truly a dream come true. It’s truly I think in line with what our brains are meant to do, which is innovate and evolve and create and fail and learn from that failure.
So even if you’re not someone that’s starting your own business, maybe you’re an employee, there’s a lot of content in this podcast and in the course that I’m going to teach you that you will be able to benefit from. I’m teaching this same content on a webinar.
So you’ll be able to get a taste of what the in-depth class will be like in Scholars. A couple months ago, I taught a course called Eight Pounds Down, and it was about losing eight pounds in one month in Scholars.
And there was such an amazing collective success in that program, we had so many hundreds of people lose eight pounds in that one month because it was a short time to focus and we streamlined it and we coached really hard and we talked about all the concepts that I wanted to do the same thing for business. And I wanted to give us a little bit more time to double our business within three months, but I think especially those of you who are working on building to 100K, it’s very doable.
We can absolutely get to the place where you are doubling your business every three months until you get to 100K. So let’s talk a little bit about what prevents us from growing, what prevents us from creating a business that flourishes and that doubles.
I recently got my financials. So just so you know, every week, my bookkeeper Elizabeth sends me my financials for the week. And she’ll say this is where we are so far this week, this is where we are this month, this is where we are for the year.
And we had our biggest month that we’ve ever had - every single month we just increase. We had our biggest month that we’d ever had last month. And the demand for our services, the demand for what we offer, the quality of what we’re delivering has met this very sweet spot in I think the timing of the world.
I’ve been at this a long time and I feel like we’ve hit this moment in time where our work is really being regarded as it should have always been. We also are having many people who are coming to us that are not going to college this year because of COVID, financial reasons, and they want to become coaches instead.
They can, for less money, get a career within six months that they can then go out and get a job or start their own business as a life coach. And the demand for life coaching is so high right now because the need for mental health is so high right now that it’s just like, this wave of fantasticalness that’s happening in our industry specifically.
And other industries are really suffering right now, going through the same process, and I feel like in the beginning of the life coaching industry, we really struggled based on what was going on in the world and how new our industry was, but I kind of feel like this is our industry’s time.
And so because of that, our business just keeps growing and doubling and getting bigger every single year. And when I - we’re talking about so far this year, we’re at about 20 million dollars. When we talk to other students of ours about getting to 100K, it seems like we’re miles apart.
20 million dollars versus 100K. But the truth is all of the concepts are exactly the same. Whether you’re trying to make $10,000, $20,000, $100,000, $500,000, 10 million, whatever you’re trying to create, we are always going to be focused on the same core tenants of business building.
So I want to kind of go through the concepts that I’m going to teach in this course within Scholars and give you some ideas to start thinking about right now in your own business. The first thing that I want to talk to you about is this equation that is very simple but can give you some context and a way of thinking about your business that will help you grow it.
And this is how the equation goes. The number of offers minus the number of no’s that you get equals the number of yes’s that you get. So the number of offers that you make minus the number of no’s that you get equals the yes’s.
Now, on that equation, we want to increase all three of those components. That is how we increase business. We want to increase the number of offers, which will also increase the number of no’s, which will also increase the number of yes’s if you’re doing it properly.
Now, the reason why this equation is so important when you’re thinking about business is a lot of times, many of my students come to me and they want to avoid the no’s. They do not think in terms of increasing the number of no’s that they get.
And so by avoiding getting no’s, they make less offers, which ultimately decreases the number of yes’s that they get. So I want you to think about this very differently. And I will talk about how important it is to get this equation dialed in so you start getting yes’s.
So in the beginning, what it’ll look like is you’ll make some offers, you’ll get some no’s, you’ll have no yes’s. Because you won’t have your marketing done. And I’ll teach you how to do it properly. So once you start getting yes’s, once your equation looks like offers minus no’s equals a positive number of yes’s, then we just have to scale.
And scaling looks like increase the offers, increase the no’s, increase the yes’s. All three of those increase incrementally until we’ve doubled your business. Now, if you’re looking at your equation and you don’t have any yes’s yet, we have to keep tweaking your offer. We have to make sure the offer is done properly.
You have to have the right offer to the right person. And that’s number two. The way that I described it to the group that I was working with is you want to be offering water to a thirsty person with money. You want to be offering water to a thirsty person with money.
So whatever it is you have, the person needs to be thirsty or hungry for it and they want to pay you for it. And when you get a business where you have the right offer to the right person, and then you just start increasing that equation, there’s no limit to how big you can grow. There’s no limit.
So let’s think about my business. My water that I’m offering is a career if we’re talking about my certification program. I have two programs. I have Self-Coaching Scholars, which I offer to clients, and then I have certification, which I offer to students who want to become coaches, so let’s talk about that one.
They’re hungry for a new career. They’re hungry for training where they can help people and offer value to people so they can make a business out of it. So my person is someone who is hungry for a new career, who wants to be a life coach, and has money to pay me for the water that I have for them.
And I will overdeliver and give them the best quality training that they could ever find in the world, and the way that I do that is by giving the right offer to the right person. I’m not offering coach training to people that don’t have money. I’m not offering coach training to people who aren’t interested in becoming life coaches. That isn’t the right offer.
I’m offering life coaching training to someone who wants to become a life coach, who has money to pay for that certification, and who wants the best training in the world because that’s what I have to offer them. So when I find that right person and I give them the right offer, it’s a no-brainer.
And we have perfected that offer so all we have to do is go find the people. And once we find them, we know that our offer will work because our offer is so much more value than the money that they’re going to pay. So it’s just - it’s absolutely delightful to sell life coach training when you have such an amazing training for such a good value.
So how will you know if you have the right offer? You’ll start getting yes’s. As soon as you start getting yes’s, you increase the equation. More offers, more no’s, more yes’s. You can’t skip the more no’s. You can’t be discouraged by the more no’s.
You want people to say no to you because that’s going to increase the number of yes’s that you get. You can’t just always have yes’s. It means you’re not making enough offers.
The third piece of this, so the first one remember was increase the equation, and the second one is you must have the right offer. And this is the stuff we’re going to really dive into in Scholars over the next three months, talking about this in detail with each of your businesses.
Number three is you must learn like crazy from your no’s. No’s move you forward. This is one of the secrets that so many people don’t know. They use a no to contract instead of using a no to expand. So why would someone say no to you? There’s only a few reasons.
It’s either the wrong offer, the wrong person, or the wrong price. That’s it. But you have to figure out which it is. Are you making the wrong offer? Are you making it to the wrong person? Or is it the wrong price for the person? That’s it.
Figure those out, solve for them, and then go make some more offers. Don’t complicate it. One of the things I’m going to talk a lot about in this class and that I want you to think about right now is many, many people make the mistake of not helping their client overcome their own doubt.
So for example, if you came to me and you said, “I don’t know Brooke, if I should sign up for life coach certification. I don’t know if I’m good enough.” And if I said, “Okay, well just let me know. Let me know if you want to give me your money,” I have missed an opportunity to change someone’s life right there.
If someone comes to me and says I don’t know if I’m good enough to go through your certification, it is my job to show them that they are good enough, better than good enough to do anything they want. Whether it’s my certification or becoming a life coach or changing their career or being exactly who they want to be or believing that they can make enough money, my opportunity right there is to help them overcome their own self-doubt.
But if I’m thinking about myself and my money and how I don’t like to hear the word no, I will miss serving my client in that moment. We’re going to talk a lot about how people’s no’s, when they say no to you, how that is your opportunity to coach them, to help them, to learn from them.
Whether they buy from you or not is not important. How much are you learning from each no? Now, if you’re not making offers and getting no’s, you’re not learning anything. You’re just hiding in the corner because you’re afraid of a no.
But once you recognize that no’s move you forward, you start learning from those no’s. You start learning how to overcome your client’s self-doubt about themselves. You start learning to use your coaching in the sales process for the benefit of yourself and for your client.
Number four is how important it is for you to not get lost in your own doubt when you start getting a tremendous number of no’s. Discomfort and failure are the pathway to success. So if you aren’t good at failing, if you aren’t good at overcoming no’s, if you aren’t good at managing your mind, you are going to struggle with being successful and making money, especially if you want to make 100K.
The better you are at overcoming no’s, the more money you’re going to make, the more successful you’re going to be, the more you’re going to help people. You can’t take it personally when someone tells you no. As soon as you take it personally, you’re going to become exhausted and you’re not going to have the energy to move forward.
Remember, a no just means one of three things. Wrong offer, wrong person, wrong price. That’s it. Figure out which one it is. And then change one thing at a time. The other thing people do is they get a no and they’re like, well, it must be the wrong offer to the wrong person and the wrong price. So they change all three.
They never know which one it is. You change one at a time. You either change the person and keep the offer the same, or you change the offer and keep the person the same, so you can see which one wasn’t working.
Success is about keeping your motivation and your energy high and the way that you do that is by managing your mind, and you use no’s as fuel. You use failures as fuel to learn and move forward. We’re going to talk a lot about how to do that.
I’m reading my notes here. I wrote down you want to win the no Olympics by keeping your goal to increase them. We’re going for the no Olympics, my friend. How many no’s did you get this week? Should be a minimum of 10.
The more no’s you’ve gotten this week, the faster you’re growing, the more you’re learning, the more successful you’re going to be. I want to recommend based on the equation the number of offers minus the number of no’s equals the number of yes’s, that you try to get that to 10% as quickly as possible. 10% yes’s.
Now, the easiest way to do that is to make more offers. The more offers you make, the more yes’s you’re going to get. Still want to learn from those no’s, but if you want to get your yes’s up, learning from the no’s and making more offers is the way that you do it.
And so it’s called exposure. It’s called putting yourself out there in the world to expose yourself to the no’s. That’s what we want to do. So instead of saying how many clients did you get this week, I want you guys to start asking each other how many no’s did you get.
And applauding each other for the no’s. What did you learn from those no’s? How are you adjusting? And maybe you’re just learning how to get more yes’s through those no’s because you’re at 10%.
Number six is what do you do with the yes’s? Are you understanding and evaluating why you got a yes? How to duplicate it? Are you overdelivering to them? Are you re-upping them when they’re done? Are you asking for testimonials?
Your yes’s are amazing learning opportunities. Amazing overdelivering opportunities. Treating your clients as marketing information is very important. Why did you say yes? Why are you all in? How did you overcome your own self-doubt to work with me? What are you thinking? Why are you so motivated to be here? Learn from those.
Number seven is increasing and scaling the equation. So the way that we make more offers, we have lots of ways. We can make more offers to more people, or we can make multiple offers to the same people, or both. We do both.
One of the things that most of my clients have a really hard time with is that when you scale your success, you’re also going to scale your no’s and your haters. To get people that you really want in your business, you’re going to have to get a lot of people that don’t want to be in your business, that don’t like you, that don’t like what you’re doing, that don’t like your success.
And do not underestimate how challenging that is to stand out from the crowd, to be extraordinary, to be different, to utilize your entrepreneurial gifts to be successful. To be willing to live in this society and make money in it when there are so many people that will hate you for that. Takes courage.
But don’t let anybody tell you that it’s a bad idea because the more successful you are, the more money you’ll be able to spend and support other people. The more money you’ll have to hire other people. The more you’ll be able to help people with your gifts.
This is where all greatness in societal evolution comes from. Human ingenuity. Growth. And you’ve got to be willing to stand up for yourself and your right to do that.
Number eight is constantly increasing your capacity to win, to have. A lot of us have an internalized classism in our heads. We think it’s not okay to be rich, to be successful, to be a leader, to win. It’s not fair. And in many ways, it’s easier not to. It’s easier to hide. It’s easier not to be extraordinary, to stand out, to shine, to be ignored.
There will be less opinions of you. If you’re not standing out and being extraordinary, people probably won’t have an opinion of you. I have a lot of people asking me to do a lot of things. You’re an influencer, you should influence people in the way that I want you to influence them.
But the reason I’m an influencer in their mind is because I had the courage to be who I am, to stand out from the crowd. And that gives you leadership. That gives you power because you have the courage to overcome.
I think it’s an amazing ride. I’m willing to experience both sides of it because there are both sides of it. But my capacity to win, my capacity to have, my capacity to be the highest version of myself, I believe helps other people do the same.
And I think it’s a blast. Why not? Why not see what we can do with these lives of ours? Why not have our own businesses and grow them? It’s a simple equation. Be rejected more. You want to be successful? Be uncomfortable more.
Hear the word no more. Ask more. Make more offers. Be willing to stand out. Be willing to be successful, as uncomfortable as that is. Be willing to leave people behind. I have a mind crush on a woman, her name’s Aprille Franks and she came to speak to a group of my students.
And I asked her, I said, “Hey, how do you handle leaving people behind?” And she said, “I don’t leave them behind. They just didn’t come.” I was like, what? She’s like, “Yeah, they had every opportunity to come with me and they didn’t want to. That’s their choice. It wasn’t my choice to leave them behind.”
And I can’t even tell you, it snapped me right out of it. She has so many inspiring things to say. I highly recommend you guys look her up. She’s an amazing teacher and it’s Aprille Franks. I didn’t leave them behind. They just didn’t come, and that’s okay.
But don’t hold yourself back for other people that don’t want to come with you. Go. See what you’re made up. Double that business of yours. I want to invite you to come to my webinar. If you’re listening to this after this was published, there will be a replay. But even better than that, join me in Scholars.
We’re going to do this course over the next three months. It will live inside the vault at Scholars. If you’re listening to this at a different time, you can join Scholars right now and access it. How to double your business in three short months. I promise you, it’s possible. Let’s do this. I’ll see you inside guys. Talk to you next week. Bye-bye.
Hey, if you enjoy listening to this podcast, you have to come check out Self-Coaching Scholars. It's my monthly coaching program where we take all this material and we apply it. We take it to the next level and we study it. Join me over at the TheLifeCoachSchool.com/join. Make sure you type in the TheLifeCoachSchool.com/join. I'd love to have you join me in Self-Coaching Scholars. See you there.