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How to get a ROI every time you invest in group coaching
Summary
Group Coaching is the best way to scale your business and develop a greater community.
Takeaways
- Group coaching programs offer support, community, and learning opportunities.
- Commitment and a positive mindset are essential for getting the most out of group coaching.
- Building relationships and embracing diversity in a group coaching setting can lead to valuable connections and new perspectives.
- Celebrating achievements and fostering accountability within a group can enhance motivation and success.
- Exploring and participating in group coaching programs can help entrepreneurs solve business problems and overcome challenges.
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Transcript
Welcome everyone to the Power Half Hour. And this week we
Speaker:have a very special guest from Houston, Texas, business coach
Speaker:Thank you for coming on. So tell us a little bit about your story, how
Speaker:Okay, so there's like a long and meandering path to that. But
Speaker:essentially, I think it started from growing
Speaker:up, my dad owned his own construction company. And so I got
Speaker:to watch him be the boss. So I always knew
Speaker:that I wanted to eventually own my own business. And
Speaker:I worked in corporate jobs, I have a background in public relations and
Speaker:communications. And then tripped into
Speaker:personal finance. So I was doing financial advising
Speaker:for people in Calgary and got
Speaker:to the point where I was kind of like, what am I going to do next? And
Speaker:my husband got a job in Australia. So that flipped me right into,
Speaker:Oh, I guess we're going to Australia. And when I was
Speaker:there, I had just trained you know, gotten all
Speaker:my credentials to do the same thing as I was doing in Canada, only
Speaker:to have him come home and say, Hey, how about Texas? And
Speaker:it's like, what? Okay, cool. I'll roll
Speaker:with that. At that point we had four kids. So when we got
Speaker:to Texas, I, yeah. So
Speaker:I got to Texas and thought, okay, I want to take advantage of all
Speaker:the things that I've done in the past, but I don't necessarily want to go back to a
Speaker:corporate job. And now's the time to open a business
Speaker:and do it myself. I started doing personal financial
Speaker:coaching for people. So I wanted to help them with their budgeting, their
Speaker:finances, just making the financial world more
Speaker:comfortable for people. And very quickly, business
Speaker:owners were the ones that were showing up. So whatever I was saying online, whatever
Speaker:I was talking about in networking groups, it was resonating
Speaker:with people that own business. And so instead of doing, hey,
Speaker:we'll figure out your personal money, I went very quickly into,
Speaker:I will profit coach you and get you to make more money in your
Speaker:business, which alleviates the tension on
Speaker:the personal finances if you're doing it correctly. So
Speaker:Amazing. Well, it's quite the journey, you know, starting from
Speaker:corporate to financial planning for people and
Speaker:business coaching, personal individual, and then boom, business
Speaker:coaching, kind of just like one led to another naturally, it
Speaker:just wasn't like you were like, from day one, I want to be a
Speaker:business coach, but because you're good at it, and now it turned into this
Speaker:Awesome. Awesome. You know, a lot of businesses, especially
Speaker:You're right. I wish I could say, no, that's not true, but no,
Speaker:Yeah. It's tough to be profitable. So I guess,
Speaker:you know, when you were working with business owners, you know, team leaders, what
Speaker:are some tips and tricks right now that you're giving them to become
Speaker:more profitable besides like spend less, make more?
Speaker:I mean, it always kind of boils down to spend less, make more, but
Speaker:it comes from a position of how exactly you're going to do
Speaker:that, right? Because yeah, we hear that advice. We know what it looks like to
Speaker:calculate out our profitability. And it comes
Speaker:from a place of figuring out where are your gaps right
Speaker:now? So are you actually in a
Speaker:position of selling more and more of the people you're
Speaker:in front of, right? What's your closing ratio in your business? Are
Speaker:you good at it? We can, and this happens, real
Speaker:estate's a great example of an industry where people are naturally
Speaker:often good talkers and they are naturally kind
Speaker:of salesy people. And I mean that in the best way possible. but
Speaker:they don't necessarily work on how do I strengthen that
Speaker:sales muscle and get better and better at closing, at
Speaker:figuring out what are those pinpoints where I could have gotten that
Speaker:guy, but something happened. Do we go back and evaluate and
Speaker:reflect on why we lost the business or why they
Speaker:didn't choose you when you're in a bit of a situation of
Speaker:either a bidding war on a selling situation Yeah.
Speaker:Or when somebody is getting ready to actually sell their house and
Speaker:they're interviewing four or five different people, what is it that didn't
Speaker:get you the job? And how are we correcting for that on the front
Speaker:Interesting. So that's actually even like a
Speaker:marketing type of coaching and also a little bit of sales coaching,
Speaker:Yeah. And my philosophy has always been that I
Speaker:have a crush formula. So I use a crush formula to kind of walk my clients
Speaker:through. And we start with the core of
Speaker:your business. So why are you even doing what you're doing? Why are you in
Speaker:this industry to begin with? Why do you want to serve clients from the
Speaker:position that you are? We get that really strong because that's what keeps
Speaker:us going on those days where it feels like banging your head against the
Speaker:And that's a lot of days these days for a lot of realtors. I
Speaker:Yeah. Yeah. Yeah. The real estate business right now is hard, right?
Speaker:It is. And so we need to have a reason for getting up and continuing
Speaker:to do it. So we start there, but then we do talk about all
Speaker:of your financials and understanding it and making really clear
Speaker:decisions as to what we're spending money on, what we're not spending money
Speaker:on, what we're evaluating the ROI. So the return on your
Speaker:investment for all the things that we do spend our money on in a business, all
Speaker:of those pieces. But then there is the sales, promotion, mindset,
Speaker:automation, all of those pieces, I still feel like drives into
Speaker:profit. So we talk about all of that, which is a little bit more
Speaker:Yeah, interesting. So it really like a holistic whole view
Speaker:of the business from sales to marketing to what are
Speaker:you spending lead gen on? What are you not spending on? Where
Speaker:are the gaps? Where are the opportunities for you to increase income? And
Speaker:obviously you dissect p&l and everything and identify where
Speaker:Oh yeah. And that's always the part where it's interesting, especially with
Speaker:certain service-based businesses like being in real estate. Sometimes
Speaker:people forget that they're actually in business for themselves, right? They're kind
Speaker:of of that, like it's a pseudo, am I an employee? I
Speaker:work under a different brokerage. Like how does that work? There's structures
Speaker:there that you have to kind of maintain and follow to a certain degree, but then you're
Speaker:pretty autonomous as well. It's kind of, that combination. And
Speaker:sometimes we just, because everybody else is doing it, I'm spending money on
Speaker:this. And I didn't ever really think about it. And is it even
Speaker:working for me? So that's a huge portion of the discussion. And knowing
Speaker:your numbers, like actually being able to pull up
Speaker:a P&L, right? There's a lot of business owners that are like, I
Speaker:Yeah, or they don't want to look at the reality of
Speaker:the situation. It's like yes, we're not profitable Right. Why
Speaker:do you think that well, especially in the market right now people
Speaker:aren't profitable and in good times people aren't profitable Why
Speaker:Well in good times people aren't profitable because they go crazy with
Speaker:spending right? So either you're pulling money for your personal accounts
Speaker:or because you want to be living the lifestyle you feel like
Speaker:you've earned as a business owner and you're now finally making
Speaker:money and it's coming in and you're like, woohoo, vacation time or
Speaker:whatever that looks like for you. But in the slow times, we're not
Speaker:profitable because it takes us a long time to pivot, right? If the
Speaker:things aren't working that we're doing, are we shifting? Are we
Speaker:doing more? Are we 10Xing our effort when that's what
Speaker:the market calls for? And most people don't do that,
Speaker:Yeah, it's way better to prepare and to be
Speaker:ahead of the curve and say, OK, I see a wave coming, whatever
Speaker:it is like this is what we need to do now. So is that what
Speaker:Yeah, I definitely do. We talk a lot about having money set
Speaker:aside. So you're profitable means we're actually generating
Speaker:revenue and there's revenue in the business that's sitting there for
Speaker:the lean times, that's sitting there for the investment opportunity that
Speaker:comes along that you want to be able to take advantage of. So we're building to
Speaker:that as well. So not only are we building profitability from
Speaker:a corporate standpoint, right, where we can start to self-finance on
Speaker:the low times, but also we're building it because we want to
Speaker:take more money home and actually create the life we've intended. We're
Speaker:all self-employed because we thought we could
Speaker:make more money this way. We'd have more time freedom, more
Speaker:financial freedom, but most of us feel like, oh no, I've
Speaker:made a terrible mistake. I'm working way more than I
Speaker:was in a corporate job and making way less. And it's like, well,
Speaker:don't stay there. Don't keep doing that. Get help
Speaker:What sort of typical results for a real estate agent can
Speaker:That's a really good question. I had a podcast episode go out this week and
Speaker:it was a client of mine who's a realtor. And she was
Speaker:on a team and then went independent with me and
Speaker:increased her, now I want to say, I'm almost
Speaker:certain it was her revenue, but it's on that podcast. So you can double check me.
Speaker:You can 300% increase in her revenue over the course
Speaker:of the time that we worked together. So the first, I think it was 12 months. It
Speaker:was a huge increase. So she went from being on a team to being
Speaker:independent. And the thing that she says on that podcast that
Speaker:I think is so interesting is her motivation at that
Speaker:point wasn't really money. It was fear around
Speaker:getting coached around the fear of could she even do that? Would
Speaker:she even have the ability to be successful on her
Speaker:own? That feeling like she was so protected and
Speaker:so safe within the group. And could she actually even
Speaker:be independent? That felt like a big step for her. And
Speaker:so that was part of our coaching to begin with. And then, you know, we've
Speaker:seen just massive, massive growth since then with her. She's
Speaker:So what are some biggest struggles right now that you see for real
Speaker:estate agents that you're working with? And how are you navigating them past
Speaker:I think one of the biggest ones I hear about all the time is there's been such a
Speaker:shift in the market, right? So we're looking at interest rates being probably
Speaker:the primary issue that I hear about the most. And honestly,
Speaker:I often will say when I'm in front of a group, It
Speaker:is not important. It is true, right? Everything
Speaker:that you're feeling is true and factual and yes, we can like look at
Speaker:the logistics of it, but it doesn't matter. It
Speaker:is just the today and now in terms of what the market looks like, in
Speaker:terms of what the interest rates are looking like. There are still people
Speaker:buying and selling property at these interest rates. We
Speaker:see it. There's still names up on that leaderboard in the office. So
Speaker:we have to be very careful not to fall into the trap of like, I can't
Speaker:because of what's happening. It's like, no, I
Speaker:can despite what's happening, but it's a
Speaker:different problem. So what do I need to shift? What I did three months
Speaker:ago or a year ago is not going to work.
Speaker:So looking at it just as a problem, Just as
Speaker:a like, okay, how, how could I make this work? And
Speaker:then going after it. That's the number one thing is like, don't
Speaker:let the news or the words that you're floating around in the world settle
Speaker:so heavy on you that you then just think it's impossible. I
Speaker:That's amazing. I always say, you know, it's because the market is
Speaker:down right now that I will, you know, become successful, right?
Speaker:I always say, you know, in 2008, that's the year I actually became,
Speaker:you know, in my mind, a really tough agent, because I
Speaker:went through the grind, I became better because of it. So I always think,
Speaker:okay, when the market's down, here's my opportunity. And there's
Speaker:So look, There's so many people that are in real estate
Speaker:right now that will not be here next year. And by next year, I mean January,
Speaker:Let's talk to those people right now. If they are listening right now, quiet
Speaker:quitting or straight up like signing my paper saying I'm out of
Speaker:Make a decision. Make a decision of either you are
Speaker:in this business for the long term, not just till Tuesday,
Speaker:not till it's easier, but like you're literally in it, or
Speaker:actively choose to not be in it and don't make that a
Speaker:bad thing. Make it be just a decision you're making in your life
Speaker:and then go to the next thing. But don't waffle. Don't
Speaker:waste any more weeks of you thinking, I kind of,
Speaker:I should have, I maybe, I kind, like, It doesn't get you
Speaker:anywhere. So you either go, I always say to the kids, I've
Speaker:got four now and a couple of them are teenagers. So we're in that stage. And
Speaker:it's like, we only do things with our full ass. No half-assing allowed.
Speaker:right? You're all in. So if you're calling yourself a
Speaker:realtor right now, then for the love, do the things a
Speaker:realtor needs to do to be successful. Otherwise, choose
Speaker:a different occupation and have that be totally okay that that's your
Speaker:choice, but either lean in or get out because it's
Speaker:causing you more stress dwelling on that day in, day out.
Speaker:So Sam, amazing, amazing, amazing advice. How
Speaker:can people reach you if they wanted to, you know, get
Speaker:So probably the best place to find me is
Speaker:SamTheProfitCoach on Instagram. That
Speaker:is the best place. Slide into my DMs, tell me you listen
Speaker:to this and ask the question, like whatever you're sitting there with
Speaker:right now, just ask me. I'm happy to have that conversation or
Speaker:Amazing. And what I'm gathering from this call is that Sam will actually
Speaker:be very gentle with you and not beat you up. So I
Speaker:I'm gentle, but a little bit of an ass kicker. So it's a little
Speaker:like, I'm nicely going to kick you in the behind and get you going.
Speaker:I love it. With that being said, thank you so much for being here, Sam.
Speaker:We'll look forward to seeing you soon. And we'll need to have a part two
