My 5 Biggest Business Mistakes

Most people already know that going to college is a complete waste of time and money. Here's what's awesome, though. If you can avoid these five biggest business mistakes that I'm going to be covering in today's video, not only are you not going to need college, but you will be able to grow your business at a rapidly accelerated pace. Don't miss it, because we're talking about it today in the video. Welcome back to the channel, guys. Today I'm excited because we're going to be talking about the the five biggest business mistakes that I have made. Hopefully you guys can take lessons from these mistakes so that you don't have to make the same mistakes that I did. And whatever you do, stay tuned because lesson number five, the mistake that I talk about in that lesson, it's going to blow your mind. It could potentially save you hundreds of thousands, if not millions of dollars. Before we jump in, guys, make sure to like and subscribe. Smash the bell, do all that cool stuff. Let's jump right on in. Before we go any further, I want to let you guys know this first biggest business mistake that we're going to be talking about today. This is the root of all of the other mistakes I made in business. By far, this is the biggest mistake that I made. And you'll see how this ties into all the other mistakes that we talk about today. So hopefully you can take this mistake, learn some big life lessons from it, and go forward with speed instead of being held back like I was. Lesson number one, the biggest mistake that I made in business by far was I was thinking too small. Whenever you think small, it does a lot of bad dominoes, right? Because if you're thinking small now, you're going to play small. And then if you're playing small, then you're going to stay small. And for years, I was. I was in that boat, right? I was thinking, oh, man, that's too much to spend on advertising. We shouldn't really go for it because that's a little too risky. Guys, whenever you think small, it dominoes into the worst possible ways. You don't want to think small. Think bigger. Stretch yourself. Only in business is it possible to grow by taking bigger, calculated risks. Obviously, I'm not talking about risking too much, too quick or doing stuff that's just foolish. But I'm talking about, like, if you always are stretching yourself to go to the next level, chances are it's going to be way more beneficial for you than it is to hold you back. So whatever you do, stop thinking so Small biggest business mistake number two that I made. Guys, I didn't hire a coach. I went for years in business just trying to, to run the hamster wheel of ideas and trying to figure this out, trying to figure that out. And it wasn't until I actually hired a coach that everything exploded for my wife and I. There's been many times that her and I have talked, we've looked back. What was the biggest transformational moment in our business? And guys, by far, it was hiring a coach. Real quick story on this, okay? One of the most powerful, like growth moments that we've ever experienced in our business, we hired a coach. It was $155,000. A lot of people would think, oh my gosh, that is way too much to hire a coach. After investing that $155,000 into our coach, into our mentor, literally within the next two months, we were able to do a million dollars in one single day. Like, guys, I don't know about you, but that is the best ROI that I could ever imagine by simply investing into a coach. The benefits of investing into a coach are you can get what you can't get out of books, what you can't get out of seminars, what you can't get out of events. When you have a coach, you have someone to pour into you, to give you wisdom, to give you instruction in the very place that they've already been, guys, coaches and mentors. It's the number one shortcut. It's the number one cheat code in life. So if you're considering hiring a coach, do not wait any longer. That's gonna be the biggest needle mover for you by far. Biggest business mistake number three, guys, we didn't expand our network quick enough or big enough, fast enough because honestly, we weren't getting in the room with people who were beyond us. One of the biggest mistakes that you can make in your business journey is being the smartest person in the room or always being the best or the most cutting edge or have the biggest ideas. When you begin to get in the room with people who are beyond you, right? Other like minded, like hearted entrepreneurs who are doing big things, okay. It's going to cause your mind to expand. One thing that I always tell my students is this, new levels require new lanyards. What's a lanyard? The little tag you get whenever you attend an event, a conference, a networking meeting, et cetera. You've got to get in the room, guys. There's power in proximity. You've heard it said before, but I cannot stress to you enough. You've got to get into new rooms with bigger minds, bigger thinkers, bigger action takers than yourself. Whenever you network yourself with people who are doing bigger things than you, it's always going to stretch you and it's always going to grow you. Biggest business mistake number four, we didn't hire the right people. So many times. Guys, in your business journey, you are what's called a solopreneur, right? You are trying to build this business on your own. You're doing the marketing, you're doing the sales, you're doing the graphics, you're doing the books, you're doing the accounting, you're doing social media. And here's the problem with that. Whenever you try to load everything onto yourself now you become the bottleneck for everything. This is how to stay small is to not hire help. And not just any help, hire good help. If you hire correctly, every single employee that you add to your team should add a minimum of $250,000 to your top line revenue. Even if you're paying that person, you know, 30k, 50k, 100k, 150k. If they're doing a good enough job in the position that you've put them in, they should easily add at least 250k to your top line revenue. That's how companies can scale up at the levels that they do is because most people see employees as expenses, but real business owners see employees as investments that grow the business. Let's talk about the biggest business mistake number five that I have made. I'm telling you, this one is going to move the needle for you by far in your revenue. And the mistake was this. I didn't raise my price big enough. So many entrepreneurs, especially when you're just starting out, you think the way to build wealth is to sell a bunch of low ticket items. You know, hopefully I can sell a bunch of these $27 things, $47 things, $100 things, and in your mind you think high ticket is like $1,000 or $1,500. Friends, I'm telling you, when you begin to make yourself more valuable to the market by investing in mentorships and leveling up your skills and making yourself more valuable, before you know it, you can actually raise your price to a premium level. This is the number one thing that we have done to skyrocket our profits in all of our businesses was to simply bring more value to the market, make ourselves more valuable, and therefore raise our prices to a more premium level. Friends, there is a reason why hotels have suites There's a reason why airlines have first class. There's a reason why a lot of different areas in the marketplace have the best of the best. People know that the best is not the cheapest and and the cheapest is not the best. The problem with trying to get ahead by having cheap items or trying to make a bunch of money off of your hundred dollar product, the problem is it's going to take a lot of work to sell that product enough to make a ton of money. Instead, what you should do is make yourself more valuable, learn more skills, provide even more value to your people, and charge them a premium price. When you do this, guys, you can begin to see a ton more profit added to your top line. Well, there you have it, gu. Those were my five biggest business mistakes that I've made in business so far. I'm sure I'm going to make a ton more. But guys, I hope to give you some value in this video so that you don't have to continue to make these mistakes in your business. Honestly, like I said at the beginning of the video, if you can learn lessons from these mistakes, you're not going to have to go to college. You can absolutely explode and skyrocket in your business much faster than I was able to. Guys, if you liked the video, if you hated the video, let me know down in the comments. Guys, if you haven't yet, make sure to like and subscribe if you want to continue to see more content like this from me. Thanks so much for joining us guys. We'll see you on the next lesson. Hey, if you like that video and you want to learn how my students are making an extra five to $10,000 every single month, then click the link below and book a free strategy session with my team. You'll be glad you did.