Mike shares how Kristen Boss, a hairstylist, turned a $2,500 investment in his program into over $1 million in revenue within a year by doing discovery calls and executing the system. He vets coaching programs by interviewing the leader, checking real testimonials, and confirming guarantees. His own $500k in self-development spending has a 80% success rate.
Chapters
Don't operate from scarcity. 80% of the investments I've made in myself, I've invested over half a million dollars, they paid off, 80% of them. But that's still 20% hasn't paid off, but that's still a learning lesson.
How do you figure out what is actually going to help you versus what is smoke and mirrors and BS? Because I feel like there's too much of that out there. So What's your process of figuring out what's— Tony Robbins is a big name, I mean, that's a big— but other ones that aren't so big.
Sure. I think you gotta test, you know, know the leader ideally or connect, do an interview with him. Just as they're interviewing you, you interview them. Secondly, look at the real testimonials and real results. Thirdly, do you resonate? Do their values intersect with yours? Do they seem like they are supportive and they believe in you? What's the risk factor as well? Do they have it like a guarantee? Like, I'll often add a guarantee. I have a basic guarantee, but I'll add additional guarantees if I feel like, hey, I can truly help this person, but they're, they're on the fence. And they just need a little extra risk removal, I'll take on the risk. You know, I'll say, hey, hey, if we go through this and you don't, you know, do X, Y, Z, like one of my favorite stories, Kristen Boss, she came to me. She was a $100,000 a year hairstylist in a tough, tough spot in her life because she had all these home repairs, her husband was in between jobs and all that. But she's like, she actually had applied for my mastermind back in April, I think it was. And it's October. So she had said, I can't afford it at the point. Well, I launched a low-ticket, like $2,500 program. She's like, Mike, I can— that would take up like the last amount on my credit card. I was like, all right. She's like, I can't do it unless— if you really think I will get results, I will do it. But you got to promise me that you'll get results, that I'll get results. I was like, Kristen, you'll get results if you do the things we ask, but you got to do them. Like, you can't just, you know, absorb knowledge. And sure enough, she did them, and she did them and then some. Like I said, hey, you got to do 10 discovery calls with who you think your ideal client is so you get intimacy with them and you get your 4% client. Well, she does the 25 discovery calls. That program is in October and November. It's a 6-week program. By the end of it in December, she does $28,000 a year in her first full month. Really, she was still a hair salon, so she's doing it 20 hours a week. Then January, February, same thing, $28,000, $25,000, $26,000, whatever. I think in March she did $40,000 for the first time. June she did $60,000. By the end of the year, she did over $1 million. She tripled what I thought she could earn. Actually, I was like, ah, I think you can do $360,000 because she ended up joining one of my masterminds too. And I had guaranteed her that I would initially on that first investment, I said, hey, I'll give you your money back if you don't get basically 10x return, but you have to do the exercises. And so, you know, I'd say I bat about 75, 80%. I don't nail it for everyone. But sometimes there's some, you know, there's 3 seasons that many of us are in. We're either in the seed planting season, we're in a growth season, or we're in the harvest season. The massive external results come in the harvest season. Like she was in a growth season, but she was pretty close to a harvest season. I just needed to fine tune a few of the things that she needed an irresistible offer for her ideal client, her zone of genius, needed to be dialed in, which we did. All those things. So that's my two cents. And I'd say also, don't operate from scarcity. 80% of the investments I've made in myself, I've invested over half a million dollars, they paid off, 80% of them. But that's still 20% hasn't paid off, but that's still a learning lesson. And so that's my two cents is like, man, the wealthy have a different embrace of failure and mistakes. They don't see— like, Sarah Blakely's dad used to ask her when she was a kid, "Hey, what did you fail at today?" She had a different interpretation of failure. So go for it. I think in life, more often than not, our biggest mistakes are not going for it.
Agreed. Agreed.
Good.
And last question: what does success mean to you?
Being aligned to my purpose. Impacting and serving and unleashing people's God-given potential and going for it, not playing small, like playing full out.
