Grow 10 times by employing a coach. In this episode, I'm going to address the
question, "Should I invest in a professional coach?" I have actually
coached many entrepreneurs in my career. I have invested north of 3 million
dollars in my lifetime sharpening my saw as Steven Covey would say. And I continue
to invest a quarter of a million dollars a year with coaches. I don't know what I
would do without professional coaches and mentors. And I also received
tremendous rewards when I help others 10 times their business practice by
employing the same dynamic lessons and principles that I have been blessed to
learn. So, hang on, I'm going to show you the power behind having a professional coach.
So, my name is Doug Andrew. And I've actually coached over 5,000
entrepreneurs, business owners how to take their professional practice, no
matter what they do. Be it a dentist, a doctor, a chiropractor. Maybe a realtor, a
CPA, a tax attorney. Any type of a business owner how to 10 times their
business, their practice in 60 months or less while simplifying their life.
I'm writing a book called 10 Keys To A Meaningful Tansformation To The Top Of
Your Industry And Beyond. Because this is the keynote address that I have given
for years at professional conferences. And I always get a standing ovation when
I share these because this is actually the sum total of what I've personally
invested north of 3 million dollars in my lifetime to learn. I've learned way
more than 10. But these are the 10 top game-changing keys. And my audiences
usually get a big score card like this, 11 by 17 on cardstock. And there's 10
keys outlined here. This particular episode is about key number 8. But I
encourage you as subscribers of my channel do to view all the videos of all
the 10 keys and how they can relate and help you simplify your business while 10
times-ing your income, your profitability. So, key number 8 down here is use
professional coaches and mentors and form strategic alliances. You'll notice
this is color coded. This is from poor, fair, good, better, best. It's a scorecard.
So, every time I teach, I actually have my audience score themselves on a scale of
one to ten on every one of these principles. So, on this one, let's just go
through these sentences and see where you fit on a scale of 1 to 10. A score
of 1 or 2, this would be poor would be. You do things on your own. You don't
think that you need coaching or that you can afford a mentor, okay? That would be a
1 or 2. A coach or a mentor doesn't cost you. It's an investment, okay? They
are an investment. They make you money. They don't cost you money. Next, would be:
You know how to tell your story and no one understands better than you how to
be productive. If that's your mindset, that's still pretty poor.
That may be fair, okay? How about: You understand the dangers that you need to
eliminate for your clients or customers your patients. The opportunities to seize
and the strengths to harness, okay? Now, you're getting there.
You maybe have learned that the hard way. It took you a while, you didn't need a
coach. But now you're floundering. You've hit a ceiling of complexity. How about a
better, okay? You attract plenty of opportunities using high concepts
coupled with high touch. I'm going to tell you why that concept alone has doubled
most business owners opportunities. But what's best? You know that coaches
mentors and alliances are an investment, not a cost. For exponential 10 times
growth, when you finally realize that every dollar you invest in a coach or in
a mentor gives you a 10 times return on your money, why wouldn't you invest in
somebody helping you? And so, that's the scorecard. So, let me tell you why I am so
adamant and so passionate about helping you understand something that I put off
for several years. I put off having a coach. And finally I went, "This is costing
me money, not making me money." And as soon as I employed a coach, I 10 times my
business in less than 5 years. The next 5 years I 10 times that again. I
want you to experience the same success that I have. So, during the last 20 years
in particular, I have employed several coaches. I belong to several mastermind
groups. This is not necessarily one-on-one coaching. It could be a group
mentoring or coaching. And so, for 20 years, I have invested
$25,000 per year belonging to a mastermind group with Dan Sullivan as my
coach. He's one of the world's top entrepreneurial coaches. He has coached
over 6,000 of the world's top entrepreneurs. Now, when you do the math,
yeah, I've invested over half a million bucks.
Not only being coached but also with additional programs, is probably more
like a million dollars. I have received well over a 10 times return on that
investment. Another group that I belong to 2 and 3 different times at for
2 and 3-year periods is the Genius Network. And that's headed up by Joe
polish. And he is the number 1 connector on the planet. Really, he can
connect you with almost anybody. And he brings together people he's a marketing
genius. But his expertise is understanding what you do and connecting
you with other brilliant people like a Richard Branson or Arianna Huffington
of The Huffington Post or Steve Forbes. Who I've met all of them because I
belong to this mastermind group. That's also 25,000. You have to pay
25,000 bucks just to be in their room to be part of that group. This is a
serious group. And if you can't prove that, you don't 10 times your investment
by being in there. Within a year, you're not allowed back in the room again.
Because they don't want you just taken up a seat. They want you to implement.
They want you to grow by 10 times the investment you paid to be in that room.
The first year in the genius Network, I invested 25,000. And I
turned that into a 1.2 million dollars with one idea. So, it wasn't a cost, it was
an investment. And I got a great return on that. Dr. Robert Cooper, one of my
favorite coaches. I invested 75,000 bucks in one year to go and
meet with him on a quarterly basis with 11 others. This is a small group of 12.
And we learned some things. I will share with you 3 things that I invested
$72,000 to learn. And I got probably a 20 times return
on my investment within the first year implementing those ideas. Was that a good
ROI? You bet it was. Peter Diamandis, another one. I've invested 10 grand many
times to go to his annual abundance 360 event. And every time I come away with
the latest and greatest in technology and staying ahead of the curve and
so forth and knowing what to do to be able to help my clients and customers
with a latest technology to be on the cutting edge. I have also
invested in mentors for speaking, for writing, for creating like this YouTube
channel, like Nate Woodbury. So, see it's not a cost. I invest in coaches and
mentors to help me 10 times my practice or more. In fact, unless I can see that I
will at least 10 times my investment, then I don't choose to go there because
I have so many opportunities. I only pick the ones that I can really understand.
Yet, if I did that, here's how I could ten times my investment by doing it. So, see
it's not a cost, it's an investment. So, let me give you a couple of the ideas
that I have gleaned from coaches so that you can get an idea. And then I would
encourage you consider getting a professional coach so you can 10 times
your practice in less than 60 months. So, other types of groups that you may
have heard of might be Vistage. That's where business owners come together in a
mastermind group. There is CEO space. There's all kinds of different
organizations that are out there. But you can also hire a one-on-one professional
coach. And you can start at a lower level where I paid my first coach years ago
about 2,000 bucks a month. That does equal about 24,000 a year. But it's worth
it. If you can't afford to shell out an entire 25,000 all upfront. Like maybe a
strategic coach or the genius Network requires of you. But let me give you a
few examples of some of the things I've learned. With Dan Sullivan, for example. I
have learned so many principles from him. But I remember he taught me to sit down
with clients and do the R factor question which is a relationship. If we
were sitting here Mr. Jones 3 years from today looking back over that 3 years to
today, what has to have happened in your life both financially and physically and
spiritually and every aspect of your life, what has to have happened for you
to be happy with the progress you made? Now, people just open up and tell you all
kinds of things. And then all I did was solve their DOS. C Dan taught me das D is
dangers. O is opportunities, S is strengths. So, what are the greatest
danger, roblox, hindrances barriers that would
prevent you from achieving that goal. And we would identify the top 3 and then
I would proceed to help them eliminate those dangers. What are the greatest
opportunities that you need to seize in order to make sure that comes to
fruition? And we would list the top 3 opportunities. And then what are the
greatest strengths that you need to harness to make sure that that comes to
fruition? Dangers, opportunities and strengths. And so, financially, for years,
I've helped people eliminate the dangers of taxes, inflation and market volatility.
Which is what causes most people to outlive their money. So, I applied DOS to
my financial clients. The opportunities. Well, why don't you convert to tax-free
vehicles? Why don't you have inflation work for you instead of against you? And
why don't you eliminate a market volatility by using indexing as an
opportunity where you can grow with the market but not lose when the market goes
down? BAM! I had them sieve that seize the 3
greatest opportunities which by the way eliminated the 3 greatest dangers.
The 3 greatest strengths of my strategies were liquidity, safety and
predictable rates of return. And so, that's what I used is the DOS
conversation with my clients. When I went out and started teaching entrepreneurs, I
would solve their DOS. You're having a hard time getting new customers? Oh,
you're having a hard time at competing in this tough climate that you're in and
you're in this a red ocean? Here, let me show you how you can have these dangers
eliminated from your orthodontic practice. Let me show you the
opportunities to seize as a Realtor right now. Let me show you as a mortgage
loan originator how to harness the greatest strengths. And bam! Bam! Bam! I
would simply solve the dos of my competitors. And my competitors became my
customers. And they would pay me 6,000 bucks to come and learn and be
mentored for 3 days with these strategies. So, that's an example of how
just one idea from one of my coaches made me an extra 15 million dollars
selling my recipe instead of selling the cake. Making my competitors, my customers.
Hello! Was that a good return on my investment? Let me give you one other
example. Marshall Thurber, a mentor. He had a mastermind group where he called it
positive deviants, okay? What's a positive deviants?
Somebody who sort of thinks out of the box.
Those who sort of break away from the industry. It's what Dan Sullivan calls an
industry transformer. And so, he read my first book it says, "Oh, Doug. Yeah, you are
a positive deviant. You will affect the world for the better because you're sort
of contrarian. You look at things differently than most people do as a
financial adviser." And so, it was a Marshall Thurber who told me to read the
book A Whole New Mind by Daniel Pink. Now, if you haven't read that book, Daniel
Pink simply talks about how people learn differently. Some learn more left brain,
the numbers and the math and the logic. They make their decisions logically. A
right brain person learns more by the way they feel. By matters of the heart
instead of matters of the mind. They like to hear stories, metaphors and examples.
We'll see, the problem is a lot of left brain people think that everybody else
makes decisions like they do. Because they have it all figured out. And you
wouldn't believe how many doctors dentists and so forth who thought that
when a mother came in with their teenager to see if they should have
braces or oral surgery or something, the orthodontist, because maybe he or she
made their decisions logically thought everybody did that. And so, they'd say,
"Well, hello! I mean health you paid this much money. And you'll have your daughter
will have a beautiful smile and straight teeth and so forth." But see, half of
the people maybe even more, they made their decisions more by the
way they felt with a story or an example. And when I taught them that you must
teach using right-brain left-brain, in other words, high concepts coupled with
high touch. And the went, "Really? People actually make decisions based upon that?"
As soon as they did that, I had a doctor who his patients all of a sudden doubled.
Because he was turning away. He was turning off the right brain people that
came in. Same thing with an orthodontist I taught this too. And so, by using
concepts like that, I learned as a financial strategist for example that a
lot of people made their decisions more with the numbers the math and the
logic. So, in my most recent book, The Laser Fund, I have one book which is this
side, 200 pages, 14 chapters with all the charts and graphs for the left brain
people. These are eye high concepts. But see, a lot of people make their decisions
more with the stories and examples. So, I designed it so you flip this book over.
And here's another book. It's 100 pages, 12 chapters with 62 Chicken
Soup for the financial soul stories. And you wouldn't believe how many times I
deliver this to a couple. And one of them will read this side, the other one will
read this side and they both get it and our clientele increased dramatically.
Because we began teaching high concepts coupled with high touch. And so, its ideas
like that that I would have never thought of if I didn't have a
professional coach. That's why most of my books have right-brain titles and
left-brain subtitles. And so, it's very powerful and I think it's one of the
keys why I have had several best-selling books. So, hopefully this is helping you
understand the power and the investment behind having a professional coach or
even a group mentoring type of an environment with a mastermind group.