Just The Tips, with James P. Friel and Dean Holland

Most entrepreneurs don't start out thinking of themselves as leaders. Besides an entrepreneur, you might see yourself as a product creator, service provider, coach, marketers, copywriter, or any other number of titles.

Then your business hits a point where you can't do everything yourself, you bring on a team, and next thing you know, people are coming to you with decisions that need to be made. Suddenly, you're a leader.

On this week's episode James and Dean welcome Melanie Parish, author of The Experimental Leader, to break down what makes a good leader and how to discover your leadership style. If you feel like parts of your business aren't operating as well as they could be, tune in to hear what you, as the leader of your business can do about it (and hear the leadership mistakes to avoid that could be contributing to the problem).

Outline of This Episode

• 4:50 Is leadership harder for entrepreneurs?
• 8:30 Characteristics of a good leader
• 13:03 The Experimental Leader
• 19:01 What it means to be neutral as a leader
• 22:02 How do we measure success?
• 27:13 Don't try to fix everything yourself
• 33:02 Hiring and firing

What makes a good leader?

Melanie advocates a neutral leadership style, where you don't react to what's happening around you. It's not that you shouldn't have standards for your business and team. It's that you stay neutral so that when your team brings you decisions that need made, you're able to take things in, ponder them, ask questions, and send it back to your team. By approaching leadership in this way, you're helping people move tasks forward vs. being a micromanager.

Leaders are willing to experiment

A lot of people get so attached to their ideas they'll insist on sticking with the bad ones for months, even years, longer than they should have. Melanie, on the other hand, sees leadership as a willingness to experiment. Any time you want change to happen in your business, you're trying something new to see whether it works. Whether it does or not, you have data you can use to conduct the next experiment. Approaching idea implementation as experimenting protects you from clinging to the bad ones and helps you flesh out the good ones.

Pass the buckets to your team

Think of the tasks your team members are assigned as buckets. For example: Scheduling out an email sequence. Your role as the leader isn't to take charge of your team's buckets (in this example, to schedule the email sequence). It might be to approve the sequence, or perhaps write it (if that's something you handle in your business). But not to schedule it. When your team hands you a bucket, make the decision and pass the bucket back.

Stop fixing everything yourself

When someone on your team is responsible for certain tasks, and they aren't fulfilling their duties in the correct way, it's tempting to fix it yourself (i.e. put yourself in charge of the bucket). The problem with doing that is, your team member never learns how to solve the problem themselves. Remember: As the leader of your business, your job is NOT to collect buckets. It's to make a decision and pass the bucket back. If a team member isn't performing, they might need more training, more feedback, or it might just be they're the wrong person for the job. Tune into the episode to hear where to draw the line between investing in more training for your team member and recognizing they aren't the right person for the job.

When firing someone is a gift

In this episode Melanie shares a story about a job she once held that didn't work out. She was good at the job and the money was good, yet she was miserable. Leaving the job was actually a relief. Firing someone on your team is uncomfortable, but if that person is miserable, and is bringing that energy to your entire business, you're not doing them - or your company - any favors by holding onto them. Let them go so they can find a place where they are a good fit and enjoy what they do.

Resources & People Mentioned

• The Experimental Leader physical book: http://book.experimentalleader.com/
• The Experiment Leader digital book: http://digitalbook.experimentalleader.com/
• The Experimental Leader podcast: https://www.melanieparish.com/podcast/
• Melanie Parish on LinkedIn: https://www.linkedin.com/in/melanieparish/?originalSubdomain=ca

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

You're probably all too familiar with both ends of the sales spectrum. On one end are people unwilling to sell anything, because they feel slimy at the thought of selling. At the opposite end are people willing to sell you swampland in Florida if it means they can make a quick buck.

When you have something of legitimate value to offer--something you're proud of that makes people's lives better in a way that matters to them--it is your ethical and moral duty to learn how to sell.

Selling is not tricking people, or twisting their arm, until they buy a product or service they don't need or want. True selling is a service, and in this episode, James and Dean reveal how to create the perfect sales pitch so you can get your solutions into the hands of people who need AND want them.

Outline of This Episode

• 3:30 Two opposite ends of the sales spectrum
• 9:15 Do you believe in what you're selling?
• 12:05 First, truly understand the problems you're solving
• 17:10 What needs are your prospects trying to meet?
• 29:01 Putting your message together
• 38:07 When the close actually starts
• 43:02 Focus on selling on the right people, not to "everybody"

Not Selling Is Selfish

When you offer people something that genuinely improves their lives--where they'll be better off with your product and worse off without it--withholding your solution because you "don't like selling" is leaving them to suffer unnecessarily. It would be like you going to a pharmacy for cold medicine because you're sneezing, coughing, and miserable, and the pharmacy staff not allowing you to buy because they "don't like selling." See selling as a service and get good at it so you can help people decide to buy your solution.

Why Are You Selling That?

Do you believe in what you're selling? Are you excited about it? Do you care about the people your offer helps? If not, why are you selling it? It's not that you can't be successful at sales with a product you don't believe in or a demographic of people you don't care about. But selling is a lot more fun and effective when you believe in your offer and love the people it can help. We have more problems in the world than we do solutions, so if you're not excited about a solution, find something you are excited about.

Know The Problem You're Solving

No one buys your product. They buy the transformation your product creates for them. Remember that, because it's SO easy to get focused on "having the best product." Step one to creating an effective sales pitch is to become intimately familiar with the problem you're solving. An example of this in action: Dean and his wife own a cosmetics company. It's successful now, but it struggled initially because they focused on what a great product they had. Only after getting clear on the problems their cosmetics products solved did their company take off. Without clarity on which problems your product solves, your sales pitch isn't going to land.

Know The People You're Serving

Another must for an effective sales pitch is intimate knowledge of who you're helping, and what needs they're trying to get met. Knowing the problem you're solving is critical, and so is knowing which needs your product helps your prospects meet. Only by listening and getting to know your prospects will you be able to hear their needs and pitch your product or service in a way that's relevant to them. This episode is packed with examples from James and Dean on what kinds of needs people are trying to get met.

Sell To The Right People

Most people start out believing that if they do anything to filter out people who aren't the best fit, they'll lose money. The truth is, not everyone is your customer, and working with the wrong people wastes your time and money, as well as theirs. It's also what leads to ticked off customers and poor results that can cause you to believe your offer doesn't work. Not only do you owe it to your customers to sell them your solution, you owe it to them to make sure they really are a good fit for it. Remember, you're not trying to trick people into buying. You're here to get your solution into the hands of the right people. "Everyone" is not the right people. The right people are the right people.

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

There's an epidemic facing today's entrepreneurs--one that all struggle with at some point: Shiny object syndrome. You've heard of it and may even be intimately familiar with it.

Considering human beings are hard-wired to seek out the fastest, easiest way to get the best possible results, it's not a surprise shiny object syndrome is a problem IF it's not properly managed.

In this episode James and Dean break down exactly what motivates shiny object syndrome, then share simple tips to ensure it doesn't come between you and hitting your goals.

If you're an entrepreneur, you've battled shiny object syndrome, and probably always will. Tune in to hear how to keep it from pulling you off course.

Why Do We Do It?

Every entrepreneur James and Dean know struggles with shiny object syndrome, but some manage it and some do not. Tune in to hear the differences between the entrepreneurs who master shiny object syndrome and continue growing their business, and the ones who don't and get stuck. The differences probably aren't what you think.

When Shiny Object Syndrome Is Useful

Shiny object syndrome is only a problem when it distracts you. Properly managed, it may even be an asset. For example: Brand new business owners have to explore a lot of different areas to find their product-market fit. Otherwise, they can end up married to an idea that's never going to work. Once you find your product-market fit, however, your focus shifts. You still experiment, but with different things. You say no to things that won't help you advance to the next level. It's all about where you need to focus. Anything that pulls you away from where you need to focus to reach your goals is shiny object syndrome gone wrong.

No One Wants The Hard Way

It's ingrained in our DNA to seek out the fastest, easiest possible path to getting what we want. This wiring is responsible for some of humanity's greatest inventions, but like anything, it can go too far. You can easily get so distracted hunting for the easiest possible path that you never get where you're going. Parts of your journey will feel hard. Beware the urge to flee the hard parts at all costs.

How To Stay Out Of The Rabbit Holes

One way to prevent shiny object syndrome from distracting you is by answering this question: What's your goal? It sounds so simple, but when you stay focused on your goal, anything that doesn't move you closer to that goal is a distraction. The pull of shiny object syndrome is so strong you may still get sucked down a few rabbit holes. But reminding yourself of your goal will pull you back on track.

What's Your Driving Force?

One reason shiny object syndrome is so alluring is the dopamine hit you get when you start something new and exciting. That new and exciting feeling is intoxicating, but eventually it wears off. When it does, having a real, raw driving force that motivates you even after the excitement of the new has worn off is critical to staying focused. Tune in to get the guys' tips on identifying your driving force, along with their take on the myth of how motivated you have to be in order to succeed.

Outline of This Episode

• There is no silver bullet [5:05]
• When you're just starting out [11:01]
• The easy way or the hard way [16:10]
• Cure #1 for shiny object syndrome [22:25]
• Cure #2 for shiny object syndrome [25:06]
• Beware the entrepreneurial roller coaster [31:31]
• What no one wants to hear [35:35]

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

How is it possible to have a multi-million dollar business and not be making any money? Simple: Because sales are not the same thing as profits.

Everywhere you turn are businesses boasting about making six figures, seven figures, and up, but when you peek behind the scenes, are these businesses actually profitable?

If not--or even if they are--the best way to make them profitable may not be to simply make more sales. More sales can help, but only to a point. There are other key areas of your business influencing whether or not it's profitable.

Neglecting these areas in favor of "more sales" is exactly how your business can make millions a year yet not be profitable.

Tune into this episode as James and Dean share three of these key areas, and how to use them to easily boost your profits.

First, Reduce Expenses

Here's a little math to show you why "making more sales" in an effort to increase profits isn't as always as effective as it seems. Let's say you sell an item that grosses $100 per sale, but only $25 of that is profit because the rest goes to expenses and overhead. By selling two of that item instead of one, yes, your gross sales are up to $200 and profit is $50, but the percentage of profit--25%--is the same. That means the economics of your business haven't actually changed. One way to change those economics is to first reduce expenses, so that, using our previous example, each $100 sale nets $50 in profit instead of $25. With a 50% profit per sale, you'll get a lot more traction a lot faster than if you'd only focused on "making more sales."

How To (Potentially) Free Up Thousands A Month

Pull up your bank and credit card statements and take a look at how many subscriptions and other products you're buying or hanging onto "in case you might need them one day." If you're not even using them, odds are you can cut them and won't even miss them. Even if it's "just" $1,200 a year per subscription, those smaller expenses really add up when you've got a bunch of them. If you're not using them, or can find an effective way to live without them, do it. You could potentially free up hundreds, if not thousands, of dollars a month.

Reduce The Most Expensive Cost

Acquiring a new customer is typically among the most expensive parts of running a business. Many businesses lose money on customer acquisition on the front-end. It's even expected. Even so, the lower your customer acquisition cost, the more customers you can afford to bring in. The best way to lower customer acquisition costs is to test, test, and test some more. Tune in to hear examples from James and Dean on which things you should test to reduce what it costs to acquire a customer.

You've Got A Customer - Now What?

So you've put in all this time and money to acquire a customer. Your customers have more problems to solve. If you aren't solving them, they'll find someone who will. Yet a staggering number of business owners do NOTHING once someone becomes a customer. We've already established that new customers are the most expensive to acquire. Instead of doing nothing, help your one-time customer become a repeat customer. Stay in touch with them, send more offers, and get a feel for what else they need help with. To do otherwise is miss out on potentially thousands upon thousands of dollars PER CUSTOMER.

The Valuable Real Estate You're Probably Not Using

Yes, consistent followup is a must. Yet no matter how skilled of an email marketer you are, there will always be a percentage of people who rarely, if ever, open your emails. But nearly 100% of people who buy your offers will see the thank you page. Use that valuable real estate to keep people engaged, promote another offer, send people to your blog, or even watch a video. Give people who buy from you a compelling reason to stick around, even if they never open another email from you.

Outline of This Episode

• The difference between sales and profit [6:05]
• The simplest way ever to increase profits [11:51]
• Freeing up thousands of dollars a month [21:45]
• Reduce customer acquisition costs [25:13]
• Are you completely missing this valuable real estate? [34:45]
• Deciding where to price your product [37:03]
• After you acquire a customer, do this [40:04]

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

If something's not working in your business, tactics are the first place a lot of entrepreneurs look. As in, if you tweak a headline, get more views, or change a button color, you'll make more sales.

If you've got your fundamentals in place, tactics like those might make a difference. If you don't, focusing on tactics like those is like putting new hubcaps on a car that has no engine. New hubcaps won't make the car run.

In addition to wasting time and money, the tactics-only approach can add unnecessary and overwhelming layers of complication to your business, especially if you haven't mastered the three fundamentals this week's guest, Tim Fitzpatrick of Rialto Media, is going to share with you in his 3-Point Marketing Method to simplify and scale your business.

Tim's start in entrepreneurship came from partnering in a wholesale distribution company, where Tim and his team grew the company 60% in nine years before selling it. In that time, Tim learned exactly how critical the fundamentals are to success in business. Tune in to hear how Tim's 3-Point Marketing Method can help you both simplify and scale your business.

There's Always Another Whizzbang

One of the top mistakes Tim sees business owners make is focusing on tactics when they don't have the fundamentals in place. Tactics like "weird tricks" to get your emails opened, headline tweaks, the latest social media platform, and so on, may be a lot sexier to talk about, but here's the problem: Focusing on tactics without your fundamentals in place is like building a house by putting up walls and windows before the foundation's been poured. It just doesn't work. Tune in to hear what you need to have in place before tweaks and tactics are of any use to you.

They're The Hero, You're The Guide

It's not enough just to have a product. It's got to be something people want, and that they KNOW they want. To show a prospect how your offer or product can help them, Tim advocates a storytelling framework where you position your prospect as the hero, and your business as the guide. Show them how your product or service helps them win, and how working with you is the key to making that win happen. Tune in to hear how this framework not only helps you sell more, but also helps you avoid getting so cute and clever that you confuse instead of convince.

Succeed At Planning By Keeping Things Simple

Most people are aware they need a plan--for their marketing, their business, their email strategy, and so on. But when it comes to actually creating the plan, a lot of people freeze, or move forward without one anyway. The most common reason Tim sees this happen is a false belief your plan needs to be long-term and complicated. Not the case! Tune in to hear Tim's simple 90-day plan framework, along with his take on why 90-day plans are superior to year-long plans.

Product Not Selling? Trace It Back

Dean and his wife own a cosmetics ecommerce company that features top of the line makeup brushes. For nearly two years their makeup brush sales were less than expected, and they couldn't understand why more people didn't want them. Turns out the problem wasn't with the products, it was with one of the three fundamentals Tim talks about in this episode. Tune in to hear which fundamental Dean and his wife traced the problem back to, and how doing so skyrocketed sales.

Why Tactics Without Fundamentals Are Expensive

Let's say you're paying an SEO expert $2,000 a month to drive traffic to your site, and this expert gets you 100,000 views a month. Impressive, right? On the surface you might think so. But if none of those views are leading to opt-ins and sales, can you really call it a success? Vanity metric "results" like these are just one possible danger of focusing on tactics when your fundamentals aren't in place. Tactics like views, likes, and headline tweaks will not fix targeting the wrong people or a product no one wants.

Outline of This Episode

• The marketing mistake holding you back [4:00]
• Lessons from an artificial jellyfish tank [9:33]
• Why cute and clever = confusing [17:10]
• 90 days, six steps [22:01]
• The cause of most marketing problems [29:03]
• Math major to marketing consultant [32:02]
• Berkshire Hathaway business lesson [40:01]

Resources & People Mentioned

• https://www.rialtomarketing.com/
• https://www.rialtomarketing.com/just.the.tips.show/
• Tim Fitzpatrick on Linkedin: https://www.linkedin.com/in/timpfitzpatrick/
• The Rialto Marketing Podcast: https://www.listennotes.com/podcasts/the-rialto-marketing-podcast-tim-fitzpatrick-ghE_paC4uXn/

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

Social media's been around long enough that more and more people are starting to view it as "required" for starting or growing a business.

Multi-million dollar businesses are regularly built on social media, so there's no denying its power as a business-building tool.

Yet multi-million (and billion) dollar businesses existed long before social media did. There are also entrepreneurs with very successful businesses who do not rely on ANY social media platforms.

So, do you need social media, or not? If you decide to utilize it, how do you go about it?

In this episode of Just The Tips, James and Dean throw down the gauntlet with regard to how necessary social media is to build a successful business. And if you choose to utilize it, tune in to hear their tips on both how to get the most out of it, and how to avoid platform pitfalls that sabotage your business instead of build it.

Nobody Cares About Your Business Card Collection

The ability to network, engage with prospects and clients, and get your products and services in front of the right eyeballs is where social media really shines. You don't even need to leave your house to do it. But just "being on social media" is no guarantee of business success, any more than collecting and having business cards means you have a successful business. Don't use social media for the sake of using social media. Use it strategically, so it becomes an effective business-building tool instead of a time-sucking distraction.

Is It Authentic For You?

If you build a business doing things you hate, odds are you're going to be miserable and more susceptible to burnout. Consider this when deciding whether to utilize social media. If you love going live on Facebook, or doing Instagram stories, or cranking out YouTube videos, then those social media platforms are probably great vehicles for you. But if social media just isn't your thing, there are other ways to reach people.

Pick The Right Platforms

It's true that visibility is key if you're going to use social media correctly, but don't make the mistake of trying to master every platform you can get your hands on "just because." Research platforms, choose the ones your customers use, and get good at those one at a time. Being a "social media influencer" doesn't help much if the people you're trying to influence aren't on the platform you're devoted to.

Be Strategic With Your Efforts

James hired LinkedIn experts to build up his LinkedIn profile. But the posts the guys he hired created weren't cutting it. These guys were also "liking" and interacting with random things James would never like or engage with. It all built up his presence, but not in a way that attracted his ideal clients. Being everywhere "just because" will not grow your business. Remember to be strategic.

Get Your People Off The Platform

Love him or hate him, Donald Trump had a huge Twitter following...UNTIL Twitter kicked him off. Whatever your opinion on that, make no mistake: You don't have to be as polarizing as Trump to be banned from a platform. It can and does happen to anyone. Sometimes it's as simple as a bot misunderstanding an algorithm. Relying only on social media is risking your entire business. Use social media to bring people into YOUR world--someplace you have control over, like an email list you can download and back up.

Outline of This Episode

• Colorado kiing mishaps [2:00]
• Is social media required to be successful in business? [9:10]
• Likes don't pay for your house [15:05]
• Where social media excels [22:01]
• What not to do on LinkedIn [30:13]
• Anyone can be de-platformed [34:06]
• The mental pitfalls of our overly plastic world [39:02]

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

"How can I make more sales" is top of mind for most entrepreneurs, but entrepreneurs can do even better in their business by focusing on valuation. Valuation has to do with the amount of money a willing buyer would spend to buy your business.

Even if you never intend to sell your business, increasing its valuation gives you access to creative ways to increase profits and take money out of the business without focusing solely on sales.

In this episode of Just The Tips, James and Dean welcome Aryeh Sheinbein for his second appearance on the show. This time Aryeh is sharing his best strategies for increasing the valuation of your business.

Think of it like home equity

Even if you don't intend to sell your home, making improvements to it makes it more valuable. That may come in handy if you ever want to tap into its equity. It's the same with your business. You may not intend to sell it, but making the kinds of improvements Aryeh reveals in this episode will make it more valuable (and more profitable).

Raising prices isn't the only way

There are multiple ways to increase profit margins without raising prices. For example, making small tweaks to reduce expenses while maintaining quality and service can grow your cash flow without requiring customers to spend more money. Small reductions in expenses really add up. Tune into this episode for additional examples of ways you can increase profits without relying on product price increases.

The power of recurring revenue

Most people hear the phrase recurring revenue and think of subscriptions. Subscriptions are definitely the most common example, but they aren't the only example. Any way you can inspire customers to spend money more frequently with you contributes to recurring revenue. It might be with ancillary products, bonuses, bundles, and any other number of strategies. Tune in to get more ideas of recurring revenue (plus hear why engaged customers, even if they aren't your biggest spenders, still contribute to your business valuation).

Scared of business debt?

Reckless consumer debt and strategic business financing are often lumped into the "bad" category. But the truth is many of the world's top entrepreneurs and real estate investors use strategic financing to their advantage and reap the rewards thousands of times over. Companies that sell physical products can especially benefit from strategic financing.

Don't settle for "sounds good"

The higher your business's valuation, the more attractive it is to potential investors. Even if you're not planning to sell the whole business, you may decide you want to bring on investors. If you decide to do that, absolutely do not use spoken agreements or back and forth emails as your "agreement." Get official terms drafted up, in writing, by a qualified expert. Yes, it's more work, but it's also for your protection.

Outline of This Episode

• Even if you're not going to sell, increase the valuation [8:01]
• How to improve margins without raising prices [12:50]
• Increase the average order value [21:55]
• A billion dollar valuation without a dime of revenue [26:15]
• How, why, and when to use financing [29:03]
• You don't have to sell ALL of your business [35:13]
• Get it in writing [39:30]

Resources & People Mentioned

• www.SolutionAdvisory.com
• www.InsideTheLionsDen.com
• On Instagram: @aryehthebusinessman
• Guest on YouTube
• Inside The Lion's Den Podcast: https://insidethelionsdenpodcast.com/

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

If you judge the entrepreneur's journey based on Photoshopped social media images, you're getting only five percent (at most) of what it's really like to be an entrepreneur..

One moment being an entrepreneur feels like the best day of your life. Five minutes later you could easily be asking yourself, "Why am I putting myself through this?" and questioning whether to stick with it.

Like anything else in life, being an entrepreneur has flip sides. Your ability to manage the rollercoaster of those flip sides determines how successful you not only become, but how successful you stay.

In this week's episode James and Dean share their real world tips for managing the entrepreneurial roller coaster. Learn how you can avoid mistakes they made, and get the exact tactics and mindset they use to manage their own entrepreneurial journeys.

Stop comparing yourself to slivers

Most people don't post on social media about the day to day challenges of running a business - the disappointments, the struggles, the moments where you're terrified and failing. All you're shown are the triumphs. Success is part of the entrepreneur's journey, but so are the struggles. Remember that the next time you start feeling inadequate after encountering someone's post about their amazing results or a trip they took. You're only seeing one little sliver of their life, and none of what they endured to get there. Instead of comparing yourself to other people's slivers, remember that their journey is theirs, and yours is yours.

Eliminate overwhelm with clarity

Years ago James and Dean realized that when they felt the most overwhelmed, it was due to a lack of direction. Without clarity on where you need to be focusing, it's all too easy to get swallowed up by the day to day grind, where you're making decisions but not making progress. When you find yourself in that situation, a sure way to burn out is to hunker down and try to hold out. Instead of sticking your head in the sand, face the situation. Take an honest look at what's going on. Only by doing that will you get the clarity you need to solve your situation.

Hustling isn't your savior

The 24/7 hustle disease is rampant in entrepreneurship, and many entrepreneurs are under the mistaken impression that if they just hustle long enough, everything will be okay. But believing you can hustle your way to success is like believing that new tires and a new coat of paint will fix a car without an engine. Without an engine, that car's going nowhere. James and Dean know people who've been hustling for 10, 15, 20 years, and are no better off now than when they started. Yes, effort is required to grow your business. But it has to be focused on the right things. Otherwise, you'll be what's called the busy fool - hustling away with nothing to show for it.

Say yes to the right things

Don't feel like doing the things you know will bring you closer to success? Do them anyway. People who get the result they want say yes to what moves them closer to their goals, regardless of how they feel in the moment. If you want fitness, say yes to going to the gym instead of an ice cream binge. If you want to grow your business, say yes to emailing your list instead of watching another Netflix show. This isn't to say you have to hustle 24/7 and never enjoy your life. Just get into the habit of saying yes to what moves you closer to your goals - especially since, each time you say yes, it gets easier to say yes next time. That's true whether you're saying yes to the right things, or the wrong things. Say yes to the right things!

The world is created by people no smarter than you

James and Dean are experimenting with a new feature on the show: What's going on NOW in the world of business. Tune in to hear their take on Jeff Bezos stepping down as Amazon's CEO, including lessons they share pertaining to this week's topic of managing the entrepreneurial roller coaster. You'll especially want to catch the part about avoiding the pitfalls that come with comparing yourself to other entrepreneurs.

Outline of This Episode

• You're not seeing the whole story [7:10]
• Eliminating overwhelm [15:31]
• Don't be a busy fool [25:22]
• Hustling won't fix it [29:01]
• Your only REAL competition [34:00]
• Know your why and power through [40:41]
• What's going on in the world of business [45:10]

Resources & People Mentioned

• v2b.jamespfriel.com

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

Cold outreach is one of the most misunderstood methods of growing your business, which is why it's also among the most feared and especially, the most mishandled.

Whether it's reaching out to get on a podcast or to start a conversation with a potential client, cold outreach has HUGE growth potential for your business. The key is doing it correctly, something Brandon Fong, our guest in this episode, is going to help you with.

After three years managing a 100,000-plus person email list and sending millions of emails, Brandon's discovered a formula that compels people to take action. He even used it to get himself booked on Just The Tips!

Tune into this episode to get Brandon's simple three-step cold outreach formula for inspiring even cold prospects to take action.

Brandon's also got an exciting free gift exclusively for Just The Tips listeners that you can start using IMMEDIATELY to uncover hidden profits in your business with the use of cold outreach (and do so without sounding like a stalker).

Is It Really Success If You're Miserable?

One thing Brandon teaches his students is how to grow your business while also enjoying happiness, health, and relationships. There are a lot of people in the world who, from all appearances, are successful, yet hate everyone and everything. Having "all the things" doesn't mean you'll feel successful, so tune in to hear how to avoid ending up with a business and a life you hate.

The #1 Cold Outreach Mistake Everyone Makes

A painfully high percentage of cold outreach attempts start the same way: With the person reaching out talking about how great they are, how many employees they have, what they do, their years of experience, and so on. Leading with you and your qualification is a surefire way to get your email or social post ignored by cold prospects. Tune in to hear why this method is destined to flop, and learn an effective way to communicate with cold leads.

No One Calls Me James P.

James gets loads of cold outreach LinkedIn messages, and it's very clear which ones are generic (probably copy and pasted or automated), vs. from people who're truly serious about working with him. One dead giveaway is when they call him James P. Though he's listed as James P. Friel, nobody calls him James P. Systems definitely have their purpose, but when it comes to cold outreach they often backfire. Instead of automating or being generic, use Brandon's three-step cold outreach system (which he'll tell you all about in the episode).

A "Backwards" Way To Get A Yes

Inspired by an FBI negotiator's tactics, Brandon teaches his students how to get a Yes by getting a No. It's called a no-oriented question. Saying yes requires us to give away our time, our energy, and our effort. We're committing to something. Saying no, on the other hand, feels much safer and much more secure, instead of feeling like you're being backed into a corner. Tune in to hear exactly what a no-oriented question is, and how to use it to make prospects feel safe agreeing to talk to you.

You're Dealing With Human Beings

The normal rules of social interaction seem to go out the window when we're communicating virtually vs. in person, and it leads to bland, desperate, forced attempts to inspire action. Never forget that even when you're contacting "a business," what you're really doing is reaching out to a human being. Tune in for Brandon's tips on how to connect like a human being, while still being professional, and finally get a Yes instead of ignored or turned down.

Outline of This Episode

• The Magic Connection Method [6:10]
• How to be rich and miserable [10:51]
• Overcoming your fear of cold outreach [16:01]
• Make it easy to say yes [20:05]
• Standing out in a sea of noise [23:58]
• Use no-oriented questions [28:03]
• Stop trying to force it [32:12]

Resources & People Mentioned

• MagicConnectionMethod.com, use coupon code 7FM
• Visit bfo.ng/tips for a free gift for Just The Tips listeners

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

JTT Listeners Free Portal: www.JTTShow.com

Nearly everyone in the internet marketing world is spending ridiculous amounts of money on ads. Yet after investing so much money and time bringing someone into their world, these same business owners turn around and give their leads the cold shoulder.

Customer acquisition is a critical part of growing your business, but inspiring people to stick around is even more critical. New customers are the most expensive to acquire and the least likely to buy. When all you're doing is chasing new customers, while ignoring the people you've already paid to acquire, you're costing yourself obscene amounts of time, money, and energy.

Tune into this episode to hear from Yara Golden, an email marketer working with some of the biggest names in the Internet marketing space (including Russell Brunson), as she joins James and Dean for her third appearance on Just The Tips to show you how to grow and monetize your email list in a way that you AND your followers feel good about.

When done correctly and consistently, emailing leads you've paid to acquire can add several zeros to your bottom line. Check out this episode to hear the best way to get started, why list size matters less than you think, how NOT to grow your list, and much more!

Invite Them To Dinner, Then Ignore Them

Human interaction is often weirdly different online than it is in person. For example, most people don't entice someone over for dinner only to completely ignore them. Yet that's what a lot of business owners do online leads. You create lead magnets, tripwires, and other means of enticing someone onto your list, then ignore them. Instead of giving your leads the cold shoulder (and costing yourself a lot of money in the process), tune in to hear exactly how to start the conversation with your leads (just like you would if they were over for dinner).

It's Not What You Have, It's What You Do With It

One of the most common excuses Yara hears from people who aren't emailing their leads regularly is, "My list only has XYZ people on it." But the size of your list matters a lot less than you think. A small list of quality leads will outperform a giant list of leads who are "meh" about you and your products. If you have any doubts that quality trumps quantity when it comes to your list size, tune in for Yara's story of a client who closed over $9,000 from a list of 500 people.

Start With This Six-Email Sequence

After someone opts-in, what do you do with them (after fulfilling whatever lead magnet or product they opted in for, of course)? Start with Yara's six-email sequence that answers six questions anyone who opts into your list will have about you and what you do. Use these emails to build the know-like-trust factor, share how they can work with you, and set expectations right up front. It's important to be yourself in these emails, so the people who are a good fit for you stick around, and the people who aren't realize they're better off elsewhere. Tune into to hear exactly what to write in these emails.

Stop Climbing Mt. Kill-Them-With-Knowledge

There's endless talk in the internet marketing world about providing value, and when most people hear the world value, they think "I have to teach and show how knowledgeable I am!" But bowling your readers over with knowledge is rarely the best way to build a relationship with them and keep them coming back to your emails. Plus, if you share everything you know for free, why would they buy from you? Instead of trying to "Kill-Them-With-Knowledge" in your emails, build the relationship and increase engagement with the content strategy Yara describes in this episode.

What If Your List Is Ice Cold?

The thought of reaching out to a list you haven't communicated with in months - maybe years - gets many an entrepreneur's hackles up. But it's not as challenging or terrifying as you think to re-engage a cold list. Tune in to hear a simple three-email sequence anyone can use to revive even an ice-cold list.

Outline of This Episode

• What to do with leads once they're in the door [5:30]
• Overcoming your fear of the unsubscribe [11:50]
• Be who you really are [18:00]
• They've opted in - now what? [24:01]
• Get off of Mt. Kill-Them-With-Knowledge [28:21]
• Start with this call to action [47:11]
• Re-engaging an ice cold list [50:12]

Resources & People Mentioned

• www.YaraGolden.com
• Yara Golden on Instagram: theartofstoryselling
• Yara Golden on Facebook: https://www.facebook.com/MyCoachYara

Music for "Just The Tips" is titled, "Happy Happy Game Show" by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

• CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
• Facebook Group: https://www.facebook.com/groups/hustledetox/
• Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
• Site: www.jamespfriel.com
• Interested in being a guest on the show?

Dean Holland:

• Blog: www.DeanHolland.com
• FB Page: https://www.facebook.com/DeanHollandHQ
• Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/

JTT Facebook Page - https://www.facebook.com/justthetipsshow/