MBA1213 Guest Teacher: Greg Winteregg – How to Be More Fulfilled with Your Business

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Hey O.

Welcome to the $100 RMBA Show. Because your business is not going to build itself, that's why we deliver daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And today's episode is a guest teacher episode. On our guest teacher episodes we invite an expert to teach their area of expertise. Today's guest teacher is Greg Winteregg and he'll be teaching you how to be more fulfilled with your business. We all know that we have to stay in business. We have to make money, we have to make profits. But sometimes if we are not intentional about how we build our business and what we do in our business, we'll look around and find ourselves feeling really bummed out, feeling like man, I don't feel like going to work today, I don't feel like working on my business. Today things start to have very little meaning. You don't want to be in that place even if you're making a lot of money. Because at the end of the day, if you're not fulfilled, if you're not happy, if you're not getting any sense of satisfaction at what you're doing, it's just not going to be sustainable. You can't do it for very long. So in today's lesson, Greg Winteregg is going to be teaching you how to be fulfilled, how to have more purpose in your business so you are more profitable. He's going to give you some fast action tips as well as some tips on how to get more sales in the process. There's a lot to cover in today's lesson, so let's get into it. Let's get down to business. Greg Winteregg is an internationally recognized speaker, management consultant and now author. He just released his new book, Fun at Work. He's presented over 2000 presentations and lectures across the globe. And that's why I'm so excited to have you today because not only does he know his stuff, he knows how to deliver it. Plenty of reps of being a great teacher. And today he's going to be tackling a really important topic, how to feel fulfilled with your work, with your business, with what you're doing. He's going to be talking about how to find the purpose of what you're doing and if you don't have one, how to create one. He's going to give you some solid examples from his own experience, from his own career and how when you empower your team with the same purpose, they take ownership over their job, which leaves you less overwhelmed. You can step back a little, take a day off, for crying out loud. I'm super excited to share this guest teacher lesson with you today. So without further ado, let me pass it on to Greg. I'll be back with my takeaways and to wrap this episode up. But for now, take it away, Greg.

Hey guys. I'm Greg Wintereg, author of my new book, Fun at How to have More Time, Freedom, Profit and More of what yout Love to Do. Thank you for joining me today. Today I have the gargantuan task of teaching five major business topics in 10 minutes. No worries. I'm up to the challenge. I've been in business for 30 years and everything I'm sharing with you today is my real life experience and kind of what I've boiled down to a successful business pattern. I'm going be covering the biggest factor in saving time, how to make a profit while still caring about people, four daily tasks of a sales rep, characteristics of a great sales rep and how do I get my business to the point where I'm only doing the parts I love? Now listen, all five topics I'm covering today have one common foundational piece and that is Whatever you are doing in business, whatever job you have, it has to be based on basic purpose. Why am I doing this? I hate to tell you, but if you are doing it for the money, it's probably not going to be fun. I can give you all kinds of summer jobs I've had between college semesters, etc. And that was to make money. Now, I always tried to make every one of those jobs fun, but as far as a basic purpose, none of those jobs were my basic purpose in life. It was just to make some money so I could go back to college. So I hate to have to tell you, but if your basic purpose is to make money, you're not going to have much fun. You might be very successful in making money, but I've seen lots of people who are sad who make a lot of money. And so for me, basic purpose is everything. And as far as I'm concerned, you're going to have fun at work if your basic purpose is focused around helping people. We all feel great when we help someone else. You help a little old lady across the street. You feel great about helping someone. You help a child with a problem. You help a co worker. Help is what makes us all happy. So the basic purpose of a business has to be to help the customer. That is what's going to make your life fun. That's what's going to make your life enjoyable. It's going to help you have fun at work. So you have to be very clear on what is the basic purpose of what I'm doing here. Now, that does lead into how do I save time. Now, for me, there are two key factors in saving time. It has nothing to do with what kind of a day planner you use, what kind of an app you have on your phone. No, saving time comes way before that. You have a decision to make, you have something you need to do, and then you sit around thinking about when you're going to do it, how you're going to do it. No, you have to decide, am I doing this or am I not doing this? That's it. You have to make a decision. Because thinking about doing something is not doing something, and all of that is wasting time. Okay, so now you've made your decision. I'm going to do this. And the next thing that usually happens, like, oh, but then once I start this way, I'm going to hit a problem. And then once I do that, then I could hit this challenge. And. And so lots of. I've caught myself sitting there thinking, well, once I get started, Then what am I going to do if this happens? And guess what? None of that stuff usually ever happened. And I realized one day I'm just wasting time. So I've decided that this is what I'm going to do. And now I'm wasting time sitting around wondering about all the problems I'm going to run into. So here's the two key factors in wasting time. Not making a decision, and then not starting. So if you want to save yourself tons and tons of time, you sit down, you gather all the data, you decide, and then you start. And you will have so much time, you get into action, you do something. Okay, figure out what kind of a day planner you want to have, what kind of an app. Of course I have a daily list of tasks that I have to get done. And by the way, all of those daily tasks line up with my basic purpose of the business that I'm working on at the time. It all flows back to your basic purpose. You're not achieving your basic purpose sitting there thinking about, what am I going to do? How am I going to do it? No, you need to decide, and then you need to start. Now, the purpose of a business does need to be about making profit. Yes, you need to make money in your business, no doubt. And you have to sit there and you have to decide, well, how am I going to get this cheaper, can I afford the lease, etc. Etc. Well, you're going to have to figure out, first of all, who are the people I'm targeting with my company? Who are the people I'm targeting with my business? Because you can have the Motel 6, the Holiday Inn, the Hilton and the Waldorf Astoria. All of these companies are profitable, going after different segments of the market. Now, I've stated all of these establishments, and you know what I've noticed? I like the towels better at the Waldorf than I do at the Motel 6. I like the sheets better at the Waldorf and the Hilton than I do at the Motel 6. But I've stayed at Motel 6 because it served a purpose at the time. I'm not down on any segment of the market, but the people who run the Waldorf know that if the sheets, they use the sheets at the Motel 6, the customers aren't going to come back. And the people who run the Motel 6 know if they're using the sheets from the Waldorf, they're not making any profit. So you have to stay in your lane when it comes to making profit. And I've never liked being at the cheapest end of the market because then I'm worried about saving costs and saving money on this thing or that thing. And that's how I'm going to make a profit. I like being at the other end of the spectrum. I like having revenue, I like having cash flow and I like making profit by servicing the customer. How can we service the customer better? How can we deliver the product faster? And that's how we're going to beat the competition in our lane. So I like having revenue which leads to profit rather than trying to save cost which leads to profit. I want to be competing more at the upper end of the scale than trying to compete at the cheapest end of the scale. And then I can out service my competition. Now that also flows into the four daily tasks of a sales rep. Task number one, I have to be willing to generate my own leads. It does me no good to walk around complaining how marketing, marketing isn't giving me enough leads. Marketing is not giving me the right quality of leads. So I have to be asking for referrals, I have to be shaking hands, I have to be knocking on doors and I have to be generating my own leads. Now the second thing about that is when I have a lead, I have to be able to quickly qualify that lead. Is this prospect in my demographic, is this prospect qualified for me to spend 10, 20, 30 minutes or an hour interviewing, putting together a bid or a proposal? So you need to develop a few quick questions that zero in and focus on your targeted market. Sitting there trying to take someone who doesn't want your product and you have to always be closing and you get wrapped up and how am I going to close this? No, no, no, no, you're wasting time. You have to quickly qualify, pre qualify this prospect and if they are in your targeted market, then you have to get into how am I going to help them and handle objections. They're always going to have objections. Now if you focus on your basic purpose of helping this customer solve the problem that they presented to you and you know you can do it now, you're going to close, handle the paperwork and take the money. So the daily tasks are generate your own leads, follow up with a quick qualifying interview on the leads that you have, then handle their objections and now you're going to close them and handle the paperwork. So that leads then into the characteristics of a great sales rep. Alright? And you can be dedicated, you can be determined. Well, here's what it is for me in my over 30 years of business experience with training, thousands of sales reps number One, this rep has got to believe in the product or service. If the rep is there just for the commission, if the rep is there, you know, just, just to make a bunch of money, then you're going to hear from that rep. I'm not getting enough qualified leads. You got to get me more leads. No, no, no, no. The, the number one characteristic of a great sales rep is they have to believe in the product or service. Well, wait a second, we're going back to the basic purpose of the company. So this means a sales rep has to be aligned with the basic purpose of the company in helping the customer with a particular problem. And that is the second major characteristic, a great sales rep. They have to be committed to helping the customer. If the sales rep believes in the product or service of the company and that rep is committed to helping the customer, I can teach them how to sell. Sales techniques mean nothing. If the rep does not believe in the product or service and the rep is not interested in helping the customer, the rep is more interested in the commission. If I have a rep in front of me like that, there's nothing that I have to teach them. Now the final point that I'm going to cover here is how do I get my business to the point where I'm only doing the parts I love? Guys, I've specialized this throughout my entire career. It started very early on in my dental practice. I got my practice to the point where at the age of 38, I was working 20 hours a week whether I wanted to or not, and was basically semi retired. How was I able to do that? Well, it goes back to basic purpose. My basic purpose was to help patients keep their teeth. Guess what guys, People with teeth live longer than people without teeth. So my basic purpose was to help people live a longer life. And you know what? I hired people that believed in that. The front office staff, my dental hygienist, my dental assistant, we all loved helping people keep their teeth. The point here is I was able to get myself to a point where I was only working part time and semi retired by the age of 38 because I surrounded people who were committed to my basic purpose of helping the public. And then every business I've moved on to after that has been founded on the basic purpose of helping people. And yes, I have folks that come in and they're making a minimum wage to file or whatever it is a startup job kind of a thing. And what I've noticed is the ones then who progress and they have progressed up to executive positions in the company. Are the ones who walk around saying, whoa, this is an awesome company. Wow, we really help a lot of people. I really love this place. So how do you get your business to the point where only doing the parts that you love? You surround yourself with people who are committed to your basic purpose. So I've covered a lot here in just a few minutes. I've been so happy to be here with Omar today. I'm Greg Winteregg. If you want to continue learning about how to have fun at work, then go to www.funatworkthebook.com. thanks again for joining me today. Now back to Omar.

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What a powerful lesson by Greg Winteregg. Check out his latest book, Fun at work over@funatworkthebook.com you won't regret it. To wrap up today's lesson, I want to share with you a personal story for those of you who've been following me for some years. You know that back in the day I had my own e commerce business. It was a Men's clothing line, custom tailored clothing. And I got into the business because I really saw a need in the market back in the mid 20002010 when I started working on this idea, there really wasn't an option for people to get custom tailored dress shirts. This is a pain point. I experienced being, you know, 65 and having long arms, but I'm quite slim, so my neck size is small. So if I want to get a smaller neck size, I'm going to have short sleeves. The bottom line is I couldn't buy a dress shirt off the rack, and therefore I started this clothing line business. In theory, this sounds great. I'm solving a pain that I'm very aware of. There was a need in the market and hey, we were making sales and the business was going well. The only problem is, a few years into it, I was getting really burnt out. And the main reason why I was getting burnt out is because I really didn't have any purpose in the business. I really didn't have that sense of fulfillment. There was no meaning behind what I was doing. I was just producing a product and selling it. And that's great. You know, I was, you know, learning how to run a big business, but that's not sustainable. Sales is only going to take you so far. At some point you're going to be like, what am I doing here? And you really need to have a deeper meaning to why you're doing what you're doing. And I didn't have one, nor did I create one for myself. And therefore, I decided to let go of the business today with my software business, Webinar Ninja, because we have a purpose. Because I have a reason why I'm doing this. Me and the team strongly believe that the reason why many businesses fail is because they just don't generate enough sales. And one of the reasons why is because it can't generate new customers. And one of the most powerful ways to do that, to get new leads and to convert them into sales, into customers, is webinars. And I know this firsthand because I built businesses using webinars. That's why I started the software company. And it gives me so much energy to know that our software, our tool, helps keep their business going, helps keep their dream alive, helps pay the bills, helps put food on the table for small businesses, helps break free from a job maybe they don't really love. Yes, I'm building a software, but the reason why they're using the software gives me such big purpose, gives me such fulfillment. And I pass that on to my team. And therefore, even when I'm tired and even when I don't want to work, you know, because I'm just worn out, that purpose fuels me and allows the business to be sustainable. There's a huge difference between those two experiences. I just wanted to share that story with you today as we wrap up today's lesson. Because, hey, you know what Greg is saying, it really matters. It really is important. So try your best to implement what you learned today. Thank you so much for listening to the Hundred Dollar MBA show. If you love what you hear, drop us a rating and review. And on itunes, we'd love to hear what you think is your favorite episode, your favorite takeaway. We read every single review and love you for it. So thank you in advance for that. Before I go, I want to leave you with this. Some people confuse a job with a business. They say, hey, I've been doing a job for 20 years. That doesn't give me any meaning. But I've continued to do that. Why can't I just have a business that doesn't really have a purpose, but at least I'll have the freedom and I'll be my own boss. You're comparing apples and oranges. There's a lot of things you don't have to deal with as an employee. There's so much pressure that you don't have to deal with as somebody who works for a company. The rules are different. The landscape of what you're in. Your life is different. Your financial health is on the line. Your mental health is on the line. Your reputation's on the line. With a job, it's ultimately not your responsibility how well the company does. It's the leader of the company. So this is why purpose is so important. Thank you so much for listening to today's episode. I'll check you in tomorrow's episode. I'll see you then. Take care.

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