233: Pivoting Into Your Most Profitable Niche - #GrowYourLife

Hey everyone, thanks for listening to the Grow youw Life podcast. My name is Jeremiah Krakowski and on this podcast I talk about ways for you to grow your life, grow your business, make more money. If you're a coach, trainer, thought leader, somebody with a message that wants to impact people. My mission is to create multi million dollar coaches, trainers, authors and thought leaders and to help people take what's inside their brain, put it out there, reach as many people as possible and make a whole heck of a ton of money doing so. And so welcome to this podcast, the Grow youw Life podcast. I've been doing this for a long time. The episodes are incredible. Best way to listen through the podcast, don't go in order number order. Pick the topics that resonate with you, that you feel like you need help with. And today we're going to be talking about pivoting the topic of your niche, of your offer, of your opt in offer, your paid offer, adjusting the topic to be more profitable for you. And one of my favorite books that really kind of helped me resonate with this and an example that I'm going to give you of this, of how we've applied this in our businesses over the years. You know my background, for those of you that I haven't met yet, I've built multiple eight figure mentorship and coaching businesses. I've been in the industry for two decades and I help people create multimillion dollar mentorship businesses. That's what we show people how to do from scratch, start from zero and get to that millions level. Not just dabbling, but actually impacting millions of lives around the world. And our clients have impacted millions of lives, We've impacted millions of lives by doing this. But even if you're just getting started, and this message is for those of you that are getting started, you know, if you're under the 10,000, $20,000 a month, a month mark in your business, this is going to be a great message for you. Or if you've plateaued, maybe you hit 40 to 60,000 or a hundred thousand, you know, above a hundred thousand dollars a month, I mean that's $1.5 million a year. The way to get unstuck is going to be with systems, with hiring a team and really automating a lot of your efforts. Instead of you having to show up and do them, your team and your system does everything for you below the $10,000 mark. That's what we're going to talk about is the topic that you're actually mentoring on. Here's an Example of this that we used, you know, we worked with a client, his name was Rick Pino, and we helped him with his worship coach program. And he had some success with some different ideas and topics. But the average month, you know, initially was doing about 10 to $20,000 a month. I mean, that was really good because he, he already had an audience of people that loved him, that followed him. So it was an instant multi six figure income for him, which was great. That's not necessarily the case of people that don't have an email list, but he couldn't seem to break past that level until we pivoted the language of who we were reaching and breaking past the just $10,000 a month level, we pivoted to not just all worshipers because that's what he had a heart for. And his message was for everybody who, who was basically a Christian that loved Jesus is, it was like a wide ranging message that like you, anybody who loves God could hear it and would get fired up by it. Like it was good stuff. And, and I've, and I've listened to him teach this before and I'm not the target customer of his mentorship program, but I've enjoyed his preaching and teaching. And so, so his message was like wide ranging, reached a lot of people, but we had to pivot down to the group of people that was most likely because here's what happened. We couldn't seem to get new people to join us. Okay, we had hit that 10 to $20,000 a month, a month mark. But new people weren't actually coming into the ecosystem. New people weren't actually jumping in with us. And so it was like, okay, this is dying, this isn't working. We had to move over here to the level of worship songwriters who had struggled to get their music out there and heard, okay, so that was a wide ranging pivot from just, you know, all Christians to those that have written and published music, but that produced a business that was making a million dollars per month by pivoting in the direction of what was most profitable, that had the most buyers in it. And so that's what we want to look at, is we want to pivot in that direction. Alex Hermosi's book 100 Million Dollar Offers talks about this. That the difference between a business that's just barely trying to get by and one that's thriving is having an audience of people that has money to actually spend with you, that you're actually marketing and selling a product or service to people that actually have finances for what you're offering. And so if you find yourself constantly talking to people that don't have finances, that's one of the first things that you want to do is you want to pivot in the direction of those that do have finances. So then you can actually fund the whole thing. At that point you might say, yeah, but my message can help. So and so, and I just, I have a heart for these people. Listen, that's great, keep doing that. But build your business around what's most profitable. Take the profits, because they're going to be exponential. I'm talking the difference between five to $10,000. That's dabbling. You might say that's a good money for you. But that to a million dollars a month, I mean that the, that's a dramatic shift over here. And so the amount of impact that then could be brought back over to this group of people was exponentially greater than just staying in the small, tiny cocoon of what's safe and what you know and what your heart's desire is. Okay. And so we found the exact same thing with my mom's business, with, with, with this business in my own business. You know, when I started, I started helping people. Anybody who wanted to use Facebook ads and a website, I would show you how to get on the Internet and make money online. Anybody can make money online. I mean, I stand behind that, I stand behind that statement today. But I couldn't get just anybody to become a paid customer of mine. And, and I was even getting some complaints from certain groups of people that quite frankly, I didn't have experience helping that niche of online marketing, you know, e commerce and agencies. But I realized that the people that were getting the most results, that were testimonies. And my 20 year track record of building eight figure mentorship businesses was mentors, coaches, trainers, authors and thought leaders that want to create these mentorship models, a personal brand online and make millions of dollars. And so what I found is the people that actually had that trajectory, they were always buying from me and they would give me positive reviews. And our experience together was just fun versus trying to pull teeth with the other group of people. So even though I could help all these people and they were coming to me for help, I had to pivot in the direction of those that were most profitable in our business. Within a year of doing that, over over a million dollars in this business right here. Okay. I built multiple eight figure mentorship businesses. And we started this one, that, our mentorship program just one year ago. And, and since then our business has made over a million dollars. And so the pivot is in the direction of figuring out who is most likely to spend a lot of money with you, who is most likely to buy from you. That also has the problem that you can solve. And so not being so generic with trying to help everybody gain confidence or improve their health, focusing in on maybe executives or people starting a business of some kind, focus in on a group of people that has an expendable income and they're willing to solve the problem. Now the other thing is that sometimes our offers perceived value is misaligned with people because of how we're explaining it. We can over explain what our offer is and the right people who it's meant for will actually turn it down because they're overwhelmed and confused by what you actually do with them. So getting clarity in how you express and explain it is important. And the final thing that I say is we want to keep our ear to the ground. The most important thing is the feedback loop. Keep your ear to the ground listening to the marketplace. What do they want? What are they telling you that they want? What are they explaining to you that they want to learn specifically by working with you? Like not what you want to teach them. That's a difference. But what are they actually saying? Hey, I have a problem in this area, I need to grow in this area. And it may be related to something that you don't even want to talk about. We found this with Rick Pino as well. You know, one of the topics that was the most profitable for him was an offer that said become a world famous worship leader. And in conversations with with Rick, the idea of helping people become a world famous worship leader was nauseating to him. It was so outside of the realm of what he felt comfortable with. But that right there was what people actually wanted. And so he was able to then deliver by finding songwriters that wanted to become world famous and selling them on the dream of becoming world famous, which he had a track record of doing. So what do you have a track record of? And you might say, well, I've never helped anybody become famous in music that's so big. Or I've never helped anybody become a millionaire that's so big. But you have helped people or you have done something that people don't know how to do that they're struggling to do, that they, that they want to learn how to do. You can also learn a new topic as well. My mom did this. You know, three years ago, my mom, she was building a multi million dollar mentorship business. She didn't have a lot of experience at all in trading stocks, none three years ago. And she did. The very thing that you can do as well is she learned a new skill set and then mentored people that were just a little bit further behind where she was on that and has a multimillion dollar stocks mentorship group. And so you don't have to have 20 years of experience. You could have 6 months or 12 months of experience and then start working with people and mentoring them. Now, by the way, that's also poo pooed in the industry. It's looked down upon to do that. I'm one of the few people that encourages it. And I think that, that, that we have. There is no reason that you have to wait until you reach some certain level of success until you are good enough to go put out there a mentorship business. And I get that you may not like that I'm saying that, but I'm going to continue to keep saying it because I want to keep inspiring people that are beginners and advanced and experts alike. Okay. It's one of the biggest areas why a lot of experts actually don't work with me because they don't like that I'm empowering the beginner so much. And so that's why I try to empower people at all different levels to help them because I know that, I know that. I know that this is an opportunity and that there's so many people out there with a great message in their heart and something that they want to share with people and something that they want to put out there. But they've had people tell them that they're not good enough yet or they're not ready yet and that they've held back on those things and those topics that could be profitable for them in a business because some person told them that they needed to get some sort of accolade or certification, something in order before they were they had the right and permission to be able to get clients in that niche. And I'm, and I'm here to tell you that's just simply not true at all. None of this business, thank God right now, is regulated. There's no regulations around any of that. So that, that's part of, that's one of the reasons why there's a lot of scammers out there. There are, there are absolutely scammers out there. People that are selling a dream, can't deliver on it. But I would think that if you're somebody who's listening to me right now and who we attract in our business that you're somebody with integrity and, and, and, and that you're somebody who is helping people. And so I would encourage you to not be afraid of this. Putting something out there that maybe you're a newbie at or you're just learning, pivoting in a direction of maybe you got skill set over here, but people aren't really buying it over here. But you also have some skill set over here and you can grow in that skill set as you're doing it. You know, Rick wasn't the best at marketing or at at even getting his music out there, but he was able to build a business around that because he was also getting better at it over time while working with these clients and people. And so I, I see way too many people holding back from what could be their multi million dollar pivot because they think that they're not ready yet and they think it's, it's tied and attached to their, their integrity. Don't let the fear of people judging you, of you not being good enough, of am I going to disappoint people? We talked about that last week in the podcast. The power of disappointing people. Don't let any of those things, the opinions of other people stop you from putting your business out there and even moving in that direction that is most profitable for you, you will have more impact overall. The people that were meant to work with you, that were going to come into your space anyways, you're not going to be losing clients by doing this. I hear people say I'm going to lose clients by doing this. You're not going to because they were never going to pay you anyways as a client. And so you had this hopeful expectation that they might show up or change their mind and they're really not going to because the people that are actually going to pay you money as you have made a boundary and drawn the line and said this is how much I need to be paid for my mentorship. We need to make a decision that we're worth charging what we're worth to people and not let anybody erode that or undermine that or, and I'm not talking about doing that in a, in a jerk off, asshole type of a way either. I'm talking about, you know, who you are, that you don't worry about what other people's opinions are of you. You know, there's a story from Alex Hormozi that there's this old white man on YouTube. There were hecklers underneath the post calling him a fake guru and a scam artist and that he knew nothing about finances. And the guy that they were heckling was a man named Ray Dalio, who is worth over $20 billion. And so it shows that even at his level, if you can't avoid the haters or the hecklers or things like that, and you're not going to please everybody, that there's no reason why we should expect it even at the beginning level. And so realize that you're going to have negativity come your way when you put yourself out there. There's no way of avoiding it. You just have to strengthen your skin internally. Your inner fortitude needs to become stronger against the mudsling. That will happen as you start to put yourself out there. Okay. And so we can't let the fear of what other people think about us or imposter syndrome get so caught up in our thoughts and in our day to day life that we make our decisions in business based off of trying to make people approve of us, trying to make people agree with us, trying to make people see our side. Just do what you know how to do, even if nobody agrees with you, and stay on the path that you know is going to produce the results you want. And that's what I got to say. And anything that comes in your mind that causes you to question this or makes you think that this is wrong or bad, I would question that and challenge that thinking as to why your thoughts are trying to keep you in a restrained box of small thinking and step out and take action and create something bigger than maybe what you've previously imagined before. All right, so that's what this podcast has been. That's what our client growth accelerator is all about. That's what our events are about, and that's what I'm excited to help you with as well. If you're in my ecosystem, you're able to create millions of dollars in a mentorship business. And I'm here to help you every step of the way. Talk soon. Have a good one.