Welcome to episode #234 of Explode Your Expert Biz Show, brought to you by http://gtex.org.uk/,
I am your host, Simone Vincenzi, The Experts Strategist, and this is the podcast for experts who want to become the ultimate authority in their niche while making an impact in the world.
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- The Top 9 Learning From Spending A Weekend With Millionaires On A Private Island
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Hello ladies and gentleman, welcome to another episode of Explode Your Expert Biz Show.
Today I’ve got something special in this solo episode where I’m going to talk about the top nine learnings I had from being surrounded by millionaires and multi-millionaires in a private island for an invitation only retreat that I have attended.
So I’ll talk to you a bit more about that in a moment but if you are watching the replay make sure you put #replay here in the show as this is a live show. Or if you are watching live let me know in the comments. Or if you’re listening to the recording of the podcast then welcome, welcome, welcome. So let’s get started straight away.
Let’s get started immediately. And guys if you are watching just let me know right now so then I can, I can say, “Hi” and give you a shout-out here on the show. All right, let’s get started. First of all, these are, this is my first learning.
I’m going to go through all nine right now. This is my first learning which is invest in your network and yourself. What do I mean about that? Now, if you want to, a lot of people they complain because they say, “Oh well I’m not surrounded “by the right people, I don’t have the right network, “all the people that I’m around in business “they don’t have any money to invest.”
Well, first of all, are you yourself investing in your network? Because if you keep going to free events then that’s the crowd you are going to hang out with which is the free event crowd. But if you then want to upgrade your network then you need to look at where are those other communities at where the people that you want to be connected with are part of.
And that’s, for example, I already decided to connect with a specific community because I saw the value in connecting with people that I would never normally meet or I would not even know that kind of businesses they have or the work that they do. So first of all if you want to expand your network and then be successful in your network you got to invest in your network. The more you invest in your network the more opportunity, opportunities you will be able to create for yourself and the people around you.
Hiya Linda, hi Michelle. Thank you very much for joining.
So that’s number one. Number two is learn from other industries. There was something fascinating that happened throughout the retreat because we had multiple different sessions that we could attend as well as moments to socialise and have fun. And all the sessions that were scheduled they were from very different industries to the one that I belong to which is the personal development business growth type of industry.
But there were a lot of session around e-commerce, growing businesses to sell. Which is not something which is talked about a lot in our industry. Or for example, how to do you scale a business and exit a business? Or how do you invest in smaller companies? And that was brilliant because a lot of time we would, as we normally do, we would keep learning things that are related to our industry but then it happens, and I don’t know if that ever happened to you, but certainly happened to me, that I become kind of narrow minded.
This is the way that things should be done because the majority of people do them in this way. So there is a real value to study other industries and understand how they operate, how they work, what’s trending right now in those industries because you might be able to find one or two things that you can apply to your own industry but actually belongs to another industry. That’s something that absolutely you will love. Something also that I have learned throughout the process as well so that’s number two, learn from other industries.
Then we’re going number three and number three is get your ego out of the way or leave the ego out of the door. Why am I saying this? One of the things that I enjoyed the most about this experience that I had was the fact that everyone is the same when we are all in flip-flops and a bathing suit or swimming trunks right? There is no who has the most expensive watch? Or who has the most expensive car? Or who is dressed best? And so you actually surrounded by people that are millionaires, multi-millionaires but everyone is the same in that environment and that creates a great ground for conversations. In particular, if you’re interested in people.
But if you’re going there with your big ego and say, “Okay I’m there to prove myself” or, “I’m there to prove something to others” or at the same time it can be, “I’m there because I want “to be known and be noticed”. Then in that environment then you become the outsider. You become the person that the people don’t want to talk to ’cause they’re everyone is there because they want to have a good time. And this is a great lesson that you can take and definitely I’m going to take in all the other business networking events that I’m going to other networking environments which is seeing people as people and not being concerned about what kind of a level of businesses they are at. Or what can they offer? What can I get out of that relationship? Like a lot of people go to networking with this kind of attitude and this kind of mindset but if you have it then you’re going to stop a lot of great conversations from happening and of course it is about, which then leads to another lesson I’m going to be sharing later which is being strategic in networking.
I’m going to topic, to talk about that later. So that’s lesson number three, get your ego out of the way, connect with people as people. Everyone has something to offer. And don’t go into networking environments wanting to get a client. That’s not what networking is for. Networking is to create connection. The clients will come from this connection and maybe one or two will become clients who knows? But if you’re there always selling, selling yourself, selling what you do then people are going to be bored and are not going to talk to you anymore. So that’s another big, big lesson here that I’ve learned.
And guys if you have any question or if there is something you like to share or something that’s really stood out for you please share it in the comments right now.
Okay, so lets go into lesson number four. And the lesson number four which is linked to what we said before is connect not sell. So you are there to connect. I already talked about that earlier you’re there to connect, you’re there to create the relationships. The sale will come. Stay there create relationship that’s your primary focus.
Then we’re going to lesson number five, which is know how to have fun and be interesting. Now guess what? People don’t want to be around boring people. Now what I’m not saying, I’m not saying before like the introverts that are watching this live or they’re listening right now they’re saying, “Well but I’m not extroverts like you Simone”, and no I’m not saying that. Introverts and extroverts you can decide to, you are who you are, that’s fine.
What I’m saying is even as an introvert are you making yourself interesting? Do you have something interesting to say in a conversation? Also, do you know how to have fun? Because guess what? If you know how to have fun, whatever fun means to you, because you will find people that will have the same idea of fun and will connect with you in that way but if you know how to have fun and if you know how to be interesting, guess what? You become like a magnet for people and people will want to be around you whether you are the introvert, whether you are the extrovert, but make yourself interesting, have great talking points, have an idea, have an opinion about what you want, what is your business and what to talk about and your beliefs around society.
Make sure you keep this brain active and engaged because guess what? When you play to a certain level you will meet some of the smartest people in the world and the small talk goes that far. Is then when you go into deeper talks then that you can really understand who they are and they can really understand who you are as a person, as an individual. So, that’s lesson number five know how to have fun and be interesting.
Then we’re going to lesson number six and lesson number six is have something to offer. Have something to offer. I’m not saying have something to sell that’s different. I’m saying have something to offer. What is it you can provide to the people that are there in an environment that can get people also to gravitate towards you? So for example, this is what I did and something that helps me network really effectively with influencers and great people which is having a podcast.
Say, “Hey who wants to be interviewed on my podcast?” And we had a private chat and a private app with all the participants of this retreat and then I got about like 25 people that wanted to be interviewed on the show. Now guess what? I’m going to now create relationship with those 25 people and that will be the next touch point instead of just leaving it as it is. So what is it you can offer to people that to give them and remember everyone wants contact, everyone wants exposure, everyone wants more opportunities, everyone wants to know, learn something so what is it you can offer that can make yourself more attractive people and also start that conversation? Because otherwise there is the risk, in particular to a larger environment, that you blend in the crowd.
And so when I went there I knew that GTeX was actually one of the smallest businesses that were there. There were about 170 people and the majority were millionaires, multimillionaires and GTeX was one of the smallest businesses there. However, but like we are around the half a million mark for the last financial year and so I knew that I wasn’t getting there to, I was going there to learn I was going there to create relationship, I was going there to build networks. I wasn’t going there as the authority like or a lot of people that will go and see me in London and I, they know who I am.
There I’m a no one and so how do I get myself known and build relationship in that community and get people sort of come to me is by adding value. Giving them something that they want and that’s why the podcast is a great way. So number six have something to offer. And then we have number seven and now we’re going to more tactical things that I’ve learnt by having conversations with people and some recurring patterns that I’ve seen in having conversation with some of the most successful people in the world. I mean one of the people that was there actually owned the bloody island where we were there. I got building, their owning an island. I mean if you own an island I wanna talk to you, you’re very interesting no matter what you do.
So. One thing I have learned is know your numbers. This is a consistent, recurring point that came across. You got to know your number if you want to grow your business. You gotta stay on top of your number, you want to know what your cashflow is, you want to know the money in and you want to know when the money’s coming out and you want to know it on a regular basis and so if you don’t know your numbers in this way it will be very difficult for you to see where, how you can grow and be strategic in where your located resources and cash is being one of the most important resources in your business. So know your numbers. If you don’t know your numbers go back. Go back to the drawing board, go back to your spreadsheets if you and if that’s not your strength, which it’s not mine, get someone to be with you and to help you there are great people called accountants that’s exactly what they do or have someone that can act as a CFO or someone that can help you out with your finances in your business. Then, so this is number seven, know your numbers.
We are going to number eight, network strategically. This is coming from a great conversation with a good friend of mine Chris Reynolds. Now Chris is the person who invited me on the island and I was really surprised because Chris is like super quiet. You don’t see him, he’s not like the star of the show, he’s not the life of the party, quite reserved, quite private. But every time I was mentioning to people that, “Why are you here?” “Well Chris invited me.” “Oh Chris Reynolds?” “I know Chris”, and literally about 80% of the people that I talked to, and I talked to a lot of people, knew that bloody Chris Reynolds. I was like man he’s always quite quiet but that man knows how to network. So I asked him and I said, “Man what happened? “Like every person I talked to knows you?” And he said, “Well you know I know how to network.” And I said, “Okay so what do you do?” And he said, “Well here’s what I do. “I first of all network with the people that know people. “That’s the number one. “So I’m very strategic whenever I go into a community “I want to network first of all with the founders “with the people that know the people that are part “of that community. “‘Cause I can just spend time talking to everyone “but then I will not have really an understanding “of who I should talk to”. So that number one that’s what he does.
He’ll go in and build the relationship and it takes time to build a relationship, it takes time to add value, it takes time to build a strong relationship. But man once you do it then your job is done and you will reap the benefits from that relationship or whatever those benefits are, it can be business or personal benefits. So number one is be strategic and that’s what he does and then he will actually spend time to connect with all the different people in that community.
That’s how people knew about him and that’s why he was like a bit of a celebrity there because everyone wanted to talk to him or he was always surrounded by people. Even if he was, it’s not what he’s like or he’s not a person who would be the loudest one definitely. And so then spend time building relationship with the right people in the community ’cause you never know you meet someone that then can be a domino effet and now suddenly you know all the rest. So network strategically thank you Chris Reynolds for this tip.
I just reading some of the comments Michelle is saying, “Business is personal Penny Power and I totally agree absolutely.” And, “I like the way that you elicit the strategies from “successful net workers, this is a secret to success.” Oh yeah. Thank you very much Michelle I’m actually going to add your comment here on the video where everyone can see it. Here guys you can see it. Thank you Michelle for commenting and you guys if you want me to put a comment here just let me know and write maybe some of your biggest learnings or something that you want to add to the conversation here right now.
So now we are going to number eight, which is network strategically. We have the last one number nine. And number nine is the bigger you play, the bigger the challenges. I was attending a session with a lady called Megan which built and sold a companies, multimillion dollar company and she was mentioning that actually companies that break generally at some points one is the first million, then three million, then 10 million, then 30 millions.
So that’s where generally you find companies having their breaking points. So she had reached the first 10 million and she was selling natural products to you, for dying hairs, its for colouring hairs and was all natural. They had great, great exposure for their products, they’ve been now building the company to like 30 million plus and now she’s sold her company. And so one of the things that she said is that when she one of the challenges that she had to face when she reached the 10 million she had always a lot of orders, she had always a lot of clients and that was great, but old manufacturing suppliers. Both of them they stopped delivering and so literally for about nine months that was almost like making a baby for about nine months she had only to solve problem finding new factories.
Finding new manufacturing suppliers, creating back up lines and all the sales then in that point stopped because they couldn’t service all their clients anymore. And so you know when you have thousands of clients that you’re letting down that your, that you can not serve, they’re thousands of people that are jumping ship to someone else that can deliver that bloody products and in the meanwhile your expenses are high ’cause now you have staff, you have people, you have infrastructures, you have facilities and so actually for nine months she was like pulling credits left, right and centre. And she couldn’t work on growing the business but she had just to put patches where she could while they were building all the infrastructures for this not to happen again and finding their new suppliers.
So it was really fascinating to listen to her because you know sometimes when we are running small businesses, or maybe you’re running a business by yourself, and there’s a first one maybe like a thousand, two thousand, three thousand pounds or dollars they are a big deal like sometime, like I remember, it can be the difference between like paying the rent one month and not paying the rent the next month and I remember those times.
Then you’re looking in and everyone wants to grow and everyone wants to grow or want to the majority. Not everyone but lot of people want to have a multi six-figure, multi seven-figure business and remember the bigger the business, the bigger the headaches. ‘Cause now your overheads will be bigger, the impacts will be bigger, what you have to lose is much more and so my recommendation is if you’re at the beginning start focusing on creating those the foundation for your business too. ‘Cause then when it will grow and you will have much bigger problems then it’s gonna be even tougher.
And so the biggest the business the bigger the problem so think about what kind of business do you want to have. Do you want to have a business with a lot of staff or do you want to have a lean business that makes you good money and supports you and your family? ‘Cause now if you want to go into building, maybe selling a business or even if you’re not selling but into the multi-millions then you know that you’re going to be facing big breaking points that are going to be way harder and everything you’re doing now is going to prepare you in a way for to face those problems.
That’s how things works, that’s how we grow, that’s the evolution process we always, we are always given challenges. That’s what I believe, we are always given challenges that we can face, we are always given challenges that we can, that we can overcome. If we want to .
And if we put our , if we get the right support and if we are open enough to get the right support and to put our head down up until things are done. Sometimes it takes months, sometimes it takes years, sometimes it takes days. But the bigger the business, the bigger the challenges.
So these are my nine learnings. Let me recap them for those of that’ve joined now. This is something before I do thank you very much Linda sharing, “Your network is your currency. “Roger Hamilton”. Thank you very much Linda Grandson for sharing. If you have any question I love to answer your question and if you answer the questions then I will have a good surprise for you as well. If you ask the question I will select one question the question I will answer they will win a prize that’s how we’re going to do now from on the show.
So number one, invest in your network. Number two, learn from other industries. Number three, get your ego out of the way or leave it your ego out of the door. Connect not sell, number four. Number five, know how to have fun and be interesting. Number six, have something to offer. Number seven, know your numbers. Number eight, network strategically. Number nine, the bigger your, the bigger you play, the bigger the challenges. So these are my nine points. These are my nine learnings from spending time with millionaires, multimillionaires in private island in Croatia.
In this private, mastermind invitation only which was incredibly eye-opening and we invested money to be there, we invested time to be there and definitely it paid off. I can say that it was one of the best investments that I’ve made.
If you’re already like making multiple six-figures or ideally seven-figure plus then check out this community its called Baby Bathwater. I absolutely love the time that I spent there. So it’s called Baby Bathwater then I highly recommend it. Highly, highly, highly, highly recommend it.
Now the big thing is that you don’t have to be an egomaniac to be there . Like if your an egomaniac then they’re gonna , you will not fit really well but if you’re not, your willing to help and support and you’re not the kind of person who just thinks they are the best in the world in everything then you will, you will, you will be very welcome there.
So we have a question now from Michelle before we wrap up, “What’s the best way to follow up “on a new network after you left it so long?” Ooo, so the number, the best way to follow up is not to leave it so long. That’s so schedule time whenever you’re going to a new network or you’re meeting your networks for following up.
So that’s for example something I’m doing, I’m leaving a maximum a week ideally a few days and then keep following up and building a relationship with them. Now if you don’t have time to create those, to have calls with everyone because a huge community something you can do you can select you can ask the organiser, “Who are the people I should follow up with?” They will know who is in the room, they will know who is there particularly if its a smaller community or a small environment.
So ask the organiser who are the people I should follow up with? Maybe are people that you haven’t met. That’s something I found is really useful. The other thing is having a podcast or if you don’t have a podcast writing articles about them, having a way to interview them. That’s for me the best way because I’m not only connecting with incredible people I’m creating content at the same time. Therefore, for our followers and our audience and as well I keep the relationship alive and I have actually more time to talk to them to get to know them and to get to know each other. ‘Cause that’s the beauty about a podcast you are sharing with them, you’re asking them personal questions and so it becomes quite an intimate conversation because that’s what the audience also likes to hear.
The more the deeper you go in the conversation the more engaging and the more effective then the episodes will become. So these are my recommendations of first of all don’t leave it too long. Secondly if you leave it too long ask people to reconnect and to interview them or ask the event organiser who should I follow up with? So these are my top three tips.
So Michelle thank you, thank you very much for this interview and well because you’re already a lifetime member and you have all our courses so I was like, “Okay what can I give Michelle now, “she’s already a lifetime member and a team member!” So what can I give you? I will make an introduction for a speaking engagement for you Michelle so that’s what I will do. This won’t happen with everyone unless you guys are lifetime members or team members already but everyone else will get online programmes and access to our community. So just to be clear with everyone.
All right, thank you very much for watching if you’re watching live really appreciate it give me a “woop woop”here in the comments if you enjoyed this show and as well if you are watching or listening to the replay on our podcast or YouTube, then subscribe to the channel and let us know what you enjoyed the most about this episode so then we know what kind of content to create and if you have any other question then feel free to reach out on our social media platform.
Thank you for watching and thank you for listening. I’m looking forward to seeing you next week and remember that together we grow exponentially. Ciao.