Why I Turned Down Two People Who Offered Me $50k For A Single Day Of CoachingConsulting & How This Will Help You Make More Money At Your Gym... Ep 41

Summary Notes


In a discussion about entrepreneurial focus and growth, the speakers, including one who recently spoke at the Funnel Hacking Live event and won the prestigious 10 million dollar sales award, emphasize the importance of saying no to seemingly lucrative distractions. They share an anecdote about turning down $50,000 consulting offers to maintain focus on their core business, which has significantly contributed to their success. They argue that diluting attention across multiple ventures ensures none will thrive and that true growth comes from doing one thing exceptionally well, repeatedly. They advise against chasing new ventures and instead doubling down on proven methods, underscoring that the most successful entrepreneurs are those who concentrate their efforts and avoid the allure of 'shiny objects'.

Summary Notes

Funnel Hacking Live Event and High Ticket Sales

  • The speakers recently attended the Funnel Hacking Live event.
  • They were featured as speakers on the topic of high ticket sales.
  • They won the "2 Comma Club X Award" for achieving over 10 million in sales.
  • Post-event, they received offers for high-value consulting work.

"We were just at the funnel hacking live event. We were some of the speakers, we're talking about high ticket sales, and, you know, we won, you know, one of the awards, which is like, it's called the ax award, which means you did over 10 million in sales, which is pretty cool."

This quote explains the context of their recent achievement and the recognition they received at the Funnel Hacking Live event, highlighting their success in high ticket sales.

"And people offered to pay us 50,000 for a single day. We had two people come up and offer that for us to kind of coach them on their business, help them scale, help them start doing high ticket whatever, right?"

Here, the speaker indicates the high demand for their expertise, with offers of $50,000 for just one day of consulting, emphasizing the value others see in their knowledge and experience.

The Importance of Focus in Business

  • The speaker's wife declined high-value consulting offers on their behalf.
  • The decision to decline opportunities is linked to their rapid business growth.
  • Entrepreneurs often spread themselves too thin across multiple ventures.
  • Focusing on a single business is emphasized for ensuring success.

"And my wife, before I even had a chance to answer the question, stepped forward and said, no, we don't do that."

This quote shows the speaker's wife's quick decision-making, illustrating a strategic choice to maintain focus rather than pursuing every lucrative opportunity that comes their way.

"And so what happens, especially as entrepreneurs, a lot of times we see things that we're like, man, this would be so cool. I got, like, six businesses and none of them really make money, but I don't know which one I'm going to do, but I'm going to invest in all of them and I'm going to see which one takes off."

The speaker highlights a common entrepreneurial pitfall of dividing attention among too many projects, which can lead to none of them being successful due to a lack of focused effort.

"But that's fundamentally flawed because you as an entrepreneur can make any business take off, and any single business can be as big as you want it to be."

This quote underscores the speaker's belief that the potential for success lies within the entrepreneur's ability to focus and grow a single business, rather than spreading resources thin across multiple endeavors.

"And so all you're doing when you're diluting your attention is you're diluting your attention, and then ultimately you're ensuring that none of them will work."

The speaker concludes that a scattered focus is detrimental to business success, reinforcing the message that concentrated effort on one venture is more likely to yield positive results.

Decision-Making for Business Growth

  • Turning down high-value consulting offers to maintain focus on core business.
  • Emphasizing the importance of focus for business success.
  • Observing that many capable individuals fail due to lack of focus.
  • The practice of repeatedly doing the same thing to achieve mastery and business growth.

"so we turn down these 250 thousand dollars a day consulting clients because the attention that that would take is going to take more from our business than it will give us."

This quote explains the strategic decision to decline lucrative consulting offers to avoid diversion of attention from their core business, emphasizing the value they place on focus over short-term gains.

"And making decisions in that way has been probably the number one thing that has grown us to where we are now."

The speaker attributes their business growth to the practice of making decisions that prioritize focus and dedication to their business model.

"I can't tell you the amount of guys who I think are much better at all these things than we are and don't have the size business that we do. And it's because they can't focus."

The speaker reflects on the observation that despite others having more skills, their lack of focus hinders business growth, suggesting that focus is a key differentiator in business success.

"They cannot focus. They can't stick to one thing they do launch after launch. They switch product, they switch industries, they switch customer avatars."

This quote details the common pitfalls of businesses that lack focus, such as constantly changing products, industries, and target markets, leading to a lack of sustained growth.

"It's all about doing the same thing over and over and over again. And it's so boring."

The speaker acknowledges that their business model is repetitive and may seem dull, but implies that this consistency is crucial for mastery and success.

Scaling Business Operations

  • Discussing the similarities between businesses with different revenue scales.
  • The incremental nature of scaling, focusing on doing more of the same thing well.
  • The importance of maintaining a consistent customer avatar and problem-solving approach.

"As you continue to scale, if you look at the difference between a $30 million year business and 100 million dollar year business."

Speaker B introduces the topic of scaling a business and the comparison between businesses at different revenue levels.

"So right now, we're obviously for a $30 million run rate is where we're at now. If you look at that versus 100 million dollar business, they're virtually the same."

Speaker A points out that their current business is at a $30 million run rate and suggests that structurally, there is little difference between that and a $100 million business.

"The only thing that changes is that 100 million dollar business does more of the same thing. They just do more."

This quote emphasizes that the primary difference between businesses of different sizes is the volume of sales or operations, not necessarily the diversity of activities.

"They're not doing new verticals, they're not constantly trying to sell different things. They usually focus on the same customer avatar, and they solve the same problem that they're really good at solving."

The speaker highlights that successful scaling involves deepening rather than broadening—sticking with the same customer base and problem-solving approach.

"And so by us turning down these 250 thousand dollars a day consulting deals, I can guarantee you that having that mindset about how you approach your business is what has been some of the reason for our success, is that we've been able to focus on doing one thing and doing re"

Speaker A concludes by reinforcing the belief that their success is due to the focus on their core business and the consistent approach to solving a problem, which is why they turn down distractions like high-value consulting offers.

Focus on Core Business

  • Gym owners should concentrate on their primary business rather than diversifying into other ventures like online training or meal prep services.
  • Diversifying attention can lead to strings attached that distract from the main business goals.

"And so I would implore you to not look at online training, not look at meal prep services, not look at all the many things that you can do that will distract you doing this JV or doing this 50 50 thing with my buddy who's got this little thing going on the side there are always things, but I can guarantee you that they always have strings attached, and the strings are attached to your attention."

This quote emphasizes the pitfalls of gym owners diverting their focus to side businesses, which can result in complications and distractions from their core business objectives.

The Value of Attention

  • Attention is described as the most valuable asset, more so than time.
  • The importance of maintaining focus on existing commitments to deliver on promises made to clients.

"Not your time. It's your attention. And so, even if we did do this $50,000 consulting day, what would end up happening is that person after that day would still continue to contact us, would still continue to ask questions, would still try and take attention."

This quote highlights that even high-value consulting work can become a distraction if it takes attention away from fulfilling existing obligations to clients.

Building on Fundamentals

  • By focusing attention on the existing business model and incrementally improving it, gym owners can achieve greater success.
  • The concept of "doing more to do less" and "going slow to go fast" as a strategy for long-term growth.

"So sometimes you got to do more to do less. And I had a mentor once. He said, sometimes you got to go slow to go fast."

This quote conveys the advice from a successful mentor that taking the time to focus and build on business fundamentals can lead to faster growth in the long run.

Support for the Podcast

  • The speaker requests listeners to help spread the word about the podcast since there are no ads or products being sold.
  • Encourages listeners to leave a review, share the podcast, and understand the impact of their attention on helping others.

"Real quick, guys, you guys already know that I don't run any ads on this, and I don't sell anything. And so the only ask that I can ever have of you guys is that you help me spread the word so we can help more entrepreneurs make more money, feed their families, make better products, and have better experiences for employees and customers."

This quote is a call to action for listeners to support the podcast by sharing it, which in turn helps more entrepreneurs and their communities without the need for traditional advertising or product sales.

Focus and Simplification in Business

  • Success in entrepreneurship is often achieved by focusing on a singular area and excelling at it.
  • The most financially successful entrepreneurs tend to do fewer things but execute them extremely well.
  • Distractions such as new ventures or opportunities should be avoided if they do not align with the primary goal.
  • The key is to concentrate on core business activities that bring in customers and revenue repeatedly.
  • Simplifying to one location or business can increase effectiveness and profitability due to undivided attention.
  • Repetition of successful actions, even to the point of boredom, is encouraged to ensure continuous profit.
  • Overcomplicating with multiple projects or businesses can lead to failure due to divided attention.

You have to go slow to go fast, and sometimes you just got to get good at one thing.

This quote emphasizes the importance of patience and specialization in achieving success.

And all you have to do is focusing on doing that thing more and more.

The speaker is highlighting the need for consistent effort and improvement in a single area.

The ones who make the most money are the ones who do the least...you do the least amount of things, and you just do a few things extremely well.

This quote suggests that financial success correlates with a concentrated effort on a few tasks rather than spreading oneself thin.

Say no to the meal pet service. Say no to the online training thing. Say no to the training from afar. Say no to the little corporate deal that you might be able to set up because they will distract you from the main thing because those are not the end goal.

The speaker is advising to reject opportunities that do not contribute to the main business goal, as they can be distractions.

All you need to do is focus on getting people in, selling them, give an amazing result, get them, send more people to you, and do that over and over and over and over again.

This quote outlines the fundamental cycle of a successful business: attract customers, sell, deliver great results, and encourage referrals, then repeat.

And then one day you will look up and you'll be really, really bored because you'd be like, what do I do now? You make money. And that's the point.

The speaker indicates that the repetition of successful strategies may lead to boredom but ultimately leads to making money, which is the goal.

Some of you guys right now have multiple things on your plate and you can't focus on it. And because of that, you can't win.

The quote points out that having too many initiatives can hinder focus and prevent success.

But imagine if you only had one thing to focus on... How easy would it be to make money with one location? Super easy.

This quote suggests that concentrating on a single aspect of the business can make it much easier to be profitable.

So focus in on one thing that makes you money and do that over and over and over and over again until you're sick of it, and then do more of it. And I promise you'll make money.

The speaker concludes with a promise that relentless focus on what generates revenue will result in financial success.

Encouragement and Closing Remarks

  • The speaker offers encouragement and well wishes for the day.
  • The closing remarks are brief and informal, suggesting a casual and friendly tone.

Lots of love. Hope you have an amazing day.

This is a sign-off message wishing the audience well.

I'll catch you guys on the flip side.

Speaker B closes the conversation with a casual and colloquial farewell.

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