Avoid Becoming a Fake GooRoo - EP 397

Unlock the secrets to genuine success and steer clear of the "GooRoo" trap by mastering authenticity and focus. In this solo episode, Tony equips you with strategies to maintain a consistent business direction and build an authoritative presence in your niche. Discover how to avoid the credibility pitfalls of flip-flopping between ventures, ensuring that your reputation and trust aren't compromised by frequent pivots.

Tony navigates the treacherous waters of self-proclaimed experts with no real experience, emphasizing the importance of genuine expertise over shiny marketing tactics. This episode also explores the value of real skill-building and the dangers of following opportunists who merely ride the latest trends. Learn to distinguish between hype and substance, ensuring that the guidance you receive comes from those truly embodying the skills they teach.

Finally, embrace a long-term commitment to your business endeavors and align your personal brand with integrity and perseverance. Tony shares insights from over two decades of experience, challenging you to prioritize patience and consistent effort. Find inspiration in stories of overcoming challenges and achieving excellence, and leave equipped with actionable advice for creating a meaningful legacy and pursuing your dreams with determination.

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by Alexi Cortopassi

Memberships to Millions - with Stu McLaren - EP 396


Ever wonder how to transform your business into a powerhouse of recurring revenue? Stu McLaren shares his fascinating journey from the constraints of traditional one-on-one consulting to the expansive possibilities of membership models. Inspired by a mentor's advice to pursue a work-life balance, Stu embraced a model that allowed him to teach and impact on a larger scale, aligning his business acumen with personal fulfillment. This episode unravels how these membership strategies not only offer financial stability but also cater to the evolving needs of entrepreneurs looking to escape the limitations of conventional business paradigms.

Stu takes us behind the scenes of creating Wishlist Member, a top-tier WordPress membership platform, and recounts the trials and triumphs of navigating technical challenges. From overcoming WordPress complexities to the importance of retaining key talent, Stu's stories offer invaluable lessons for entrepreneurs facing similar hurdles. Learn how safeguarding your business against vulnerabilities and valuing indispensable team members can fortify your path to success.

This episode also explores the psychology behind memberships and how providing focused content rather than overwhelming amounts can increase retention and member satisfaction. Tune in as Stu illuminates the path to creating successful membership businesses.

Key highlights:

  • Building Successful Membership Business Models
  • Overcoming Technical Challenges in WordPress
  • Navigating Business Vulnerabilities and Growth
  • Scaling Business Through Membership Models

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by Alexi Cortopassi

Selling a Business is a Time Machine

Selling a successful business is a time machine.😮

During my group coaching call this week, I spoke about the relatively unknown game that is being played in business; Exits and acquisitions.

It's heartbreaking to have hundreds of conversations with owners who were seeking guidance on selling their companies... only for them to discover their companies weren't worth buying.

Data suggests that only about 20% of businesses are acquired, because the majority of them aren't building enterprise value that attracts a potential buyer. And for those that do sell, the average sale is only in the ~200K range.

I want to raise your awareness of this bigger game. For a moment, step outside of your focus on daily operations and think beyond your current phase of business. If you don't, you'll miss out on potentially life-changing opportunities.

Building and selling a company for millions is a time machine for those of us that didn't grow up rich, or have a trust fund.

I didn't realize this until after I sold my first company in 2007. It wasn't even a thought I considered, because I didn't know anyone with the experience, and nobody was sharing this perspective with others.

With a 5X multiple on exit valuation, some inexperienced owners only see that as 5 years profit placed in their hands, in advance. While 5 years is good, they've not understood the complete time travel aspect, yet.

Prior to the sale, I enjoyed a healthy multi-6-figure annual income for several years. But even at that income level, it would have taken me 20+ years to maintain the lifestyle I had, and also save up an additional 7-figures in my bank account.

Don't believe me? How many decades do most people have to work with a 6-figure income, in order to save up a million in 401K? It's a long, long time.

💥Boom! 20 Years of time travel in terms of financial liquidity standings. I actually estimate that every million is worth about 20 years for a 6-figure salary earner.

Then you have the time freedom aspect to consider. If you own a profitable business, you can keep working another 5 years doing the same routine, or you could sell it and earn your 5+ years in profit in one day. What could you do with another 5+ years in your life?

💥Boom! Instantly 5+ years of your time that you would have spent working, returned back to your life. When our average age of death is 80, every year counts.

Time and location freedom are more valuable than most will understand. You can't fully understand the value of these, until you experience them for yourself.

Consider this; Your goal isn't just building a business. You need to start thinking of it as building a time machine. The more profitable the business, the bigger the time machine it is.

I've been enjoying this time travel for nearly 20 years now. I love helping others build their own time machines.

-Tony

by Tony Whatley

What Makes a Great Book? - with Bill Blankschaen - EP 395

Bill Blankschaen, the mastermind behind Story Builders, joins Tony to unravel the art of storytelling and ghostwriting. From his beginnings in education to becoming a guide for influencers and entrepreneurs, Bill reveals how he transforms ideas into bestselling books. This conversation touches on the necessity of clear messaging and strategic planning, and how being a published author can skyrocket your credibility and open new doors for opportunities.

Navigating the world of book marketing, Bill debunks the myth that publishers do all the heavy lifting. Bill highlights the critical role authors play in promoting their work, sharing insider strategies like pre-marketing, harnessing the power of a launch team, and audience building via email lists. By owning the process and engaging with readers, authors can ensure their book's success. Bill also delves into the collaborative process that elevates the creation of a book from good to great, highlighting the benefits of high-touch relationships and comprehensive research.

Look to the future with insights on AI's role in publishing, the significance of audiobooks, and the power of storytelling in scaling entrepreneurial ventures. Bill shares his passion for using narrative to empower business leaders, emphasizing originality and quality in content creation. This is your guide to navigating the evolving landscape of book writing and publishing, filled with inspiration and practical advice for authors and entrepreneurs aiming to make a lasting impact.

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by Alexi Cortopassi