Why I turned down two people who offered me $50k for a single day of coachingconsulting Ep 225

In a Gym Secrets podcast throwback episode, the speaker shares insights from their success at a funnel hacking live event and emphasizes the importance of focus in entrepreneurship. Celebrating an award for over $10 million in sales, they recount offers of $50,000 for business consulting, which were declined to maintain focus on their core business. The speaker underscores the pitfalls of diluting attention across multiple ventures, advocating for mastery of one area and consistent, repetitive effort. They highlight that saying no to attractive distractions and concentrating on what works, even if it seems monotonous, is key to scaling a business from millions to billions.

• The episode being discussed is from March 2018, yet it remains pertinent to current listeners.
• Speaker A highlights the timelessness of the content in their introduction.

Welcome back to the Gym Secrets podcast. This week, we're listening into an episode that actually aired in March of 2018. But don't let that throw you. It's just as relevant today as it was then. Enjoy.

This quote establishes the context for the episode being revisited and asserts its ongoing relevance despite being from 2018.

• Speaker B recounts their recent experience at the funnel hacking live event.
• They received an award for achieving over 10 million in sales.
• The award is referred to as the "Axe award."

We were some of the speakers. We're talking about high ticket sales, and we won one of the awards, which is like, it's called the Axe award, which means we did over 10 million in sales, which is pretty cool.

Speaker B is sharing their success at an event where they were recognized for their high sales achievements, indicating both their expertise and their status in their field.

• Post-event, individuals approached Speaker B with lucrative consulting offers.
• Offers included $50,000 for a single day of business coaching.
• Speaker B's wife declined these offers on their behalf.

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.

This quote details the substantial offers received by Speaker B, emphasizing the high demand for their expertise.

• Speaker B emphasizes the importance of focus in entrepreneurial success.
• They critique the approach of investing in multiple businesses without clear direction.
• The strategy of selective commitment is presented as a key to rapid growth.

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. But that's fundamentally flawed,

Speaker B is critiquing the lack of focus that some entrepreneurs have, suggesting that spreading oneself too thin across multiple ventures can be a flawed strategy that hinders growth.

• Entrepreneurs must concentrate their attention on one business to ensure success.
• Diluting attention across multiple ventures can lead to failure.
• Rejecting high-paying consulting to maintain focus can contribute to business growth.
• Lack of focus is a common downfall for many entrepreneurs.
• Consistency and repetition in business practices lead to mastery and success.
• Scaling a business often involves doing more of what already works, rather than diversifying.

"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 emphasizes the potential for an entrepreneur to grow any business to a desired size, highlighting the importance of dedication and focus.

"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, right?"

The speaker points out that dividing one's focus across multiple projects can prevent any single one from succeeding.

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

Here, the speaker credits their success to the strategic decision to maintain focus on their core business rather than pursuing distracting opportunities.

"I can't tell you the amount of guys who I think are than we are. And it's because they can't focus."

This quote suggests that the inability to focus is a key reason why other entrepreneurs may not achieve their potential, despite being talented.

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

The speaker describes a pattern of behavior among entrepreneurs who lack focus, constantly changing their business model without allowing any one strategy to mature.

"All you do is you get really good at doing one thing and then that's it."

This quote captures the essence of the speaker's strategy for success: perfecting a single business practice through repetition.

"As you continue to scale, if you look at the difference between a $30 million year business and $100 million year business, so right now we're on pace for a $30 million run rate is where we're at now."

The speaker compares businesses of different sizes, noting that their current business is on track for significant revenue, which they attribute to their focused approach.

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

This quote highlights that the primary difference between a $30 million and a $100 million business is the scale of operations, not the diversity of activities.

"They usually focus on the same customer avatar, and they solve the same problem that they're really good at solving."

Here, the speaker reinforces the idea that successful businesses often concentrate on serving a specific customer base and excelling at solving a particular problem.

• Strategic focus is critical for success in business.
• Turning down lucrative opportunities can benefit long-term focus and success.
• Diversifying attention across too many ventures can lead to distraction and dilute effectiveness.
• Prioritizing attention over time is essential for fulfilling commitments and achieving growth.

"And so by us turning down these 250 thousand dollars day consulting deals, I can guarantee you that having that is what has been some of the reasons for our success, is that we've been."

This quote emphasizes the deliberate choice to decline high-paying consulting offers in favor of maintaining strategic focus, which has been a key factor in the speaker's success.

"There are always things, but I can guarantee you that they always have strings attached, and the strings are attached to your attention."

The speaker warns that new opportunities often come with hidden costs, particularly in terms of the attention they require, which can detract from primary business goals.

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

The speaker clarifies that attention, more than time, is a business's most valuable asset, and guarding it from being fragmented by external demands is crucial for maintaining focus on existing commitments.

"So sometimes you got to do more to do less."

This quote suggests that it's sometimes necessary to take on additional work or make tough decisions to simplify and reduce tasks in the long run, thereby enhancing focus and efficiency.

• Patience and the willingness to slow down can lead to accelerated progress in the future.
• Learning from experienced mentors can provide valuable insights and strategies for success.
• A mentor who has operated at a high level of business can offer lessons on the importance of pacing and strategic growth.

"Sometimes you got to go slow to go fast."

The speaker shares a lesson learned from a mentor, implying that taking the time to carefully build a foundation can result in faster progress down the line.

"And he was a coo of a $10 billion company with a b 10 billion. And I had an extended period of time where I was working really closely with him and I learned a lot of things from him."

This quote highlights the mentor's impressive credentials and the speaker's close working relationship with him, which allowed for the transfer of valuable knowledge and business philosophy.

• Specializing in one aspect can lead to greater success than attempting many things.
• Being exceptional at a few tasks can lead to more lucrative opportunities.
• Entrepreneurs should avoid distractions and focus on their core business.
• Saying no to opportunities that aren't aligned with the end goal is crucial.

"sometimes you just got to get good at one thing. And all you have to do is focus on doing that thing more and more."

This quote emphasizes the importance of specialization and mastery in one area rather than being a jack-of-all-trades.

"The better you are, the better the opportunities you have to say no to."

This quote suggests that as one improves in their specialized area, they will encounter more opportunities, and they should be selective, focusing on what aligns with their goals.

• Success can be achieved by consistently delivering amazing results in a specific area.
• Repetition of a successful process can lead to growth and referrals.
• Entrepreneurs often overcomplicate their path to success by taking on too much.

"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 a simple, repeatable strategy for success: provide excellent results, which leads to more clients through referrals.

• Overextension can lead to self-sabotage and prevent entrepreneurs from excelling.
• Focusing on too many things at once dilutes attention and can hinder success.
• Simplifying focus to one main revenue-generating activity is recommended.

"Some of you guys right now have multiple things on your plate and you can't focus on it."

This quote highlights the common issue entrepreneurs face: being spread too thin across various projects, preventing effective focus on any single one.

"But imagine if you only had one thing to focus on. Maybe it was one location. You have three."

This quote suggests that narrowing focus to a single aspect, such as one business location, could significantly simplify the path to profitability.

• Entrepreneurs are encouraged to persist in their focused efforts even when it becomes monotonous.
• The speaker reassures that dedication to a singular focus will lead to financial success.
• A parting message of love and positivity is extended to the audience.

"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."

This quote is a motivational call to action, urging entrepreneurs to relentlessly pursue their primary money-making activity for guaranteed success.