This is key number 8 out of 10 keys to grow your business by ten times. In this particular
episode, again, this is key number 8. I will show you how to ten times your income by investing in
the right coaches and mentors. They are not a cost, they are an investment. You're going to see why.
So, I'm Doug Andrew and what do I know? Well, I've started numerous businesses throughout my lifetime.
I'm in my 70th year and no, I don't color my hair. But I have been helping entrepreneurs take their
business whatever it is. If they're an orthodontist, a chiropractor, a realtor, a CPA, a tax attorney,
a financial advisor, to take their practice to 10x in 60 months or less while simplifying their
life. Yep, a lot of people think, "Well, if I'm going to earn 10 times more I'm going to work 10 times
harder", no, you will work less if you go through all ten of these episodes. So, as I proceed this
is a key number 8 out of 10 and I want you to post a comment, click like, share with another
entrepreneur if something is resonating with you. So, here we go, this is actually key number 8
in my book the 10 keys transformation. At the end of this episode, I'm going to show you how you can
get a free copy of this book. Now, key number 8 is stated in the book, "Use professional coaches
and mentors to form strategic alliances". This is where I have met most of my strategic alliances.
So, let me give you just a glimpse because in my master class, I spend a couple of hours on this.
My favorite coaches throughout my 48 years of doing what I do are Dan Sullivan, Joe Polish,
Robert Cooper, Abundance360, Kathy Loveless, and they all these are all investments that
I make in them on an annual basis. Dan Sullivan is known as the strategic coach. I met him years ago
and it took me a few years to finally engage with him because I had another coach at the time.
Dan, it's 25,000 a year for his base program and I did that for two decades. So, you do the math
I've shelled out half a million bucks just in that but also in additional programs and materials
I've invested well over a million dollars sharpening my saw as Steve Covey would say.
With Dan Sullivan, we meet together with 40 to 60 other entrepreneurs, we learn from Dan.
He helps us think and then we share among our mastermind groups. That 25,000 a year was not
a cost it was an investment and I got a great return on that investment. Joe Polish he belongs
to strategic coach also that's why I met him. But he formed what is called the genius network
and he connects people and he shows you how to market and that is also 25,000. They both have
programs that are a hundred thousand if you want to belong to those but you start out usually with
the 25,000 group. In fact, that's what Joe called his was 25k when he first started it. The whole
key here is instead of trying to be the smartest person in the room we check our egos at the door
and we're just more interested in trying to be in a room where everybody's trying to get smarter
and that's the benefit behind these. Now, Dr. Robert Cooper, he only does a program
with 12 entrepreneurs for 12 months and then you're an alumni after that but that is $75,000
for one year. It was worth every dime. Abundance 360. that's Peter Diamandis is the facilitator
of that, that's usually 10,000 bucks to attend that three-day event. Kathy Loveless, she's local where I
live and she's been part of the national speakers association for years and so she mentors people on
how to take their speaking practice to a whole new level. She usually charges three thousand dollars
for that. So, I wanted to put Kathy in there because you don't have to be shelling out 10 and
20 and 50 and 100,000 bucks. So, these are some of my favorite coaches and mentors. I have many more.
In fact, when I talk about mastermind groups, strategic coach, genius network, 12 leaders,
life pro, the brilliant minds group which is a local one in the Utah area where I live, Vistage
that's national these are business owners and entrepreneurs, the national speakers association
NSA, the c-suite CEO space maybe you've heard of, abundance 360. I have a mastermind group called
idea to implementation because a lot of times you get ideas but the hardest part is implementing it
and then IUL insiders is a mastermind group and this is for insurance agents that sell
indexed universal life and I help them take their practice to 10 times and so these are
some of my favorite mastermind groups and some of these, I facilitate myself and others I attend.
Now, one of the things that I learned from Dan Sullivan. This is just an example of why you want
to use a coach. Dan taught me 20 years ago what he calls The "R-factor question", and this was worth
every dime that year. This is where he taught us to sit down with clients and simply ask the question.
Jim and Mary Jones, if we were sitting here and then you think of a time frame three years from
today. Looking back over that three-year period to today what has to have happened in your life
not just financially but physically spiritually all dimensions of your life
for you to be happy with the progress you made? I ask that one question and I sit back and listen
and take notes and they start telling me what has to have happened financially, physically,
spiritually, with their kids, with their grandkids, with their company, or whatever,
and I just write and that's called the r factor because you're developing a relationship.
You are being sincerely interested which I explain in another key. Now, once you get this down then
you go through the dos conversation with them. The dos is identifying the dangers or barriers
that need to be overcome in order to achieve that dream or that vision they shared when I ask them
the r factor question. So, once they've told me what has to have happened in that three-year period
then I say, "Well, what are the biggest dangers, roadblocks, hindrances, barriers, that stand in
the way and then I proceed to eliminate those and I ask them what the top three are? They'll
usually brainstorm and I'll circle three. They will share what those are. What are the greatest
opportunities that you need to seize in order to see this dream come to fruition and then what are
the greatest strengths that you need to muster up and use that I can help you with? The abilities in
order to accomplish this, that's called the dos conversation. So, let me give you a sample of this.
As a financial advisor with a product called index universal life, I'm able to help my clients
and customers and I communicate this on radio, TV, this Youtube channel. The three biggest dangers
that cause most retirees to outlive their money are rising taxes because they thought they were
going to be in a lower tax bracket and they're not. So, taxes going up. Inflation cutting the purchasing
power of the dollar and a half every five to ten years and people outlive their money because of
taxes and inflation and then market volatility because they left their money in the market
and they lost 30 and 40 percent like twice in the decade from 2000 to 2010. And I showed them that
none of our clients lost a dime in 2001 to 2003 when the market dropped 40 percent and none of our
clients lost a dime in 2008 when most Americans lost 40 percent for the second time in a decade.
So, now they want to know, well, how did you do that? What I do is eliminate those dangers. I help you
make yourself immune from the negative impact of taxes, inflation, and market volatility, by seizing
three opportunities. Now, I move to the O, you want to convert to tax-free vehicles link your
returns to the things that inflate. So, inflation doesn't hurt you it helps you and you use indexing
so when the market goes up you participate when the market goes down you don't lose because your
money's not at risk in the market. People now are curious. So, we're going to seize the opportunity
to convert to tax-free vehicles and that's max-funded indexed universal life.
You're going to link your returns to the things that inflate. So, if inflation goes to 10 you'll
earn 15. If it goes to 15 you learn 20 which is what I've always done. I've always outpaced
inflation and you're going to eliminate the downside risk when the market crashes because your
money is not in the market. You will not lose. You may not make anything that year but you won't lose.
Now, they go, "Wow, I want to see those opportunities those eliminate those three dangers", well, what are
the greatest strengths that I can provide and that this max-funded IUL provides. Well, liquidity,
safety, and rate of return. So, you will have more liquidity, the ability to access your money when
you need it in case of emergencies and during retirement and so forth. Number two, you'll have
safety of principle. If you set aside a million I'm going to show you how you can get 80 to 100,000
a year of tax-free income without depleting principle and if the market crashes 40% you will
not lose. But if you make 25% one year on a million that's 250 grand that is locked in. You will never
lose in the future the money you made in the past. People go, "I've never seen a financial advisor do
that", I go yeah, I can believe that but I can do it for you using indexing. So, the third is to
earn a competitive rate of return not pie in the sky but averaging seven to ten percent tax-free,
tax-free, not just tax-deferred. Bam, dangers opportunities and strengths and this is how
I have used this to be able to take what I learned from Dan Sullivan one of my mentors
and convert it over to my own practice. This book called a whole new mind by Daniel Pink.
He was one of my mentors and he taught me the concept. This is a little bit of a different take
but he talked about using your whole mind your right brain and your left brain and so I teach
high concepts coupled with high touch. Because some people make decisions more how they feel others
how they think logically. So, that's why with one of my book that's a bestseller called the laser fund.
I talk about liquidity and safety and rate of return and tax advantages it spells the acronym
laser, liquid assets safely earning returns. So, in that book, it's actually two books in one.
One side is 200 pages 14 chapters which is for the left-brain thinker. It has all the
charts and graphs. But for the people often their spouse who learns more by stories and
examples you flip the book over and you read this one. This is 100 pages 12 chapters with 62
stories like chicken soup for the financial soul stories and ever since I started communicating
left brain or right brain my business went through the roof and you can go to laserfund.com
and claim a free copy of this book if you want. You just contribute a nominal amount towards the
shipping and handling. But folks, Dr. Robert Cooper one of my mentors I shelled out
75,000 there were three takeaways that were worth every bit of that 75 grand.
He taught me how to do brief, brilliant, practical, essence concepts dropping your lap where you can
communicate them in even three minutes or five minutes or like these YouTubes in 10, 15, 20, minutes
or less. That has been a game-changer I have over 730 educational Youtube videos on this channel
subscribe it's free. I post a new video almost on a daily basis.
He taught us to be able because there were 12 to always ask what's possible. Who are we missing?
What is the smallest change that we can make that will have the greatest impact?
That made all the difference in the world. Third he taught me how to arm my recommenders the people
who refer. Arm my recommenders to easily defend with pride why they engaged with me. I make it easy
for people to refer and recommend me. I give them copies of books. I give them links. So that whenever
they're talking to somebody, "You need to read one of Doug Andrew's books. You need to connect with
Doug Andrew here. Let me just where's your phone and so forth? Here, I'll get you a free copy
of his book The Laser Fund". Bam, that was worth 75,000 like 20-fold in the first 36 months. So, folks,
there's not a lack of information in the world. There's a dearth of people's time and attention.
See, content is king but only if your ideal client can find it and so when you learn this key in the
book you're going to be able to move across this scale. So, on this particular key number 8.
If you do things on your own and uh you don't think you need coaching and you can't afford a mentor
ah that's a one or a two, you don't know what you don't know. If you know how to tell your story and
uh you think that no one understands better than you how to be productive. Well, you're a little bit
higher than a one or two you're maybe a three or a four on a scale of one to ten. If you understand
the dangers to eliminate for your ideal clients the opportunities that you can help them seize and
the strengths to harness both for them and you. Now, you're getting closer but if you attract plenty
of opportunities and you use high concepts coupled with high touch now you're not missing out on half
the people out there. If you make the mistake of thinking everybody makes decisions the way you do
right brain or left brain. No, you're missing out on half of your customers but what's the
perfect score when you have coaches and you know that those coaches and mentors and alliances are
an investment not a cost for exponential 10 times growth. Now, you are arriving. So, folks, I want you to
claim a copy of this 10 keys book. This is where i've delivered this to the million-dollar round
table. This is where I've invested over 3 million bucks in my life and it has been a game-changer to
convert to over a hundred million. You don't need to do that. If you claim your book by going to
free10keysbook.com you'll be able to go through a little processing fee and download a digital
version and print it out it'll be like this. But you can also get the audio but I would recommend
you look at the 10 keys master class. Because for just a couple of hundred bucks you can get what
most entrepreneurs have paid six thousand dollars for sometimes 2, 3, and 4 times
to go through the 18-hour class and it's online. So, engage be sure you watch the other
9 keys in this series of 10 keys and I'll see you on the other side of your brighter future.