The importance of defining your customer

NALGO.

NALGO. Yeah. So, Nick Skovegaard , master of advertising and branding, works with a lot of TV channels and big name brands throughout Illinois and, I think, seven different states. So he said, when you're finding your ideal client, he's like, you should be turning away three clients or three people for every one client that you attract. So he's going, you should be targeting people.

People.

Because there's a psychological thing, right, that you might turn people away if they're unqualified for your offer, but it makes the impact of the people that you're targeting when you niche down, like, three or four times more. So it's actually easier to get the clients to say, yes, the ones that you want, but it's also easier to kind of put the other ones that you don't want aside. So I guess that's the idea behind it. Does that make sense? Here we go.

Alex, who's read this? Actually, let me ask this a different way. Who hasn't read this? If you haven't read this, and I just saw your hand go up there, Trisha, so make a note. Like, if you don't get anything out of your connection with White Label Suite, anything else in your whole life, get this. This is so good. This is like when Chris and Johan and I got together, we'd all read this, and we've all made it a point to to actually go out and read it again and notetake and do all that kind of stuff. And Alex talks about finding that niche, and I love that example in the book, and I don't want to spoil the ending for you, Trisha. No, it's okay. I won't spoil it for you. But he talks about an example where he's like, you can buy this, or you can put together this time management course, right? And you can sell your time management course for, like, $47, you know? And then he says, but if you change that a little bit, you could increase the value. You could say, okay, time management for sales professionals. Okay, now we can sell it for $197.

And then he's like, okay, time management for sales professionals in the Power Tools niche. Now you can sell it for 997 because somebody in that niche goes, this is specifically for me. This is exactly what I need. And then it's like, time management services for sales professionals in the Power tool niche who live in Arizona. Now, you can sell it for a 1997 course because those 25 people that answer that specific niche will pay that money because it's directly related to them. Same content, just different focus on the niche. And and Chris is right. We're talking about the what Nick was going through, like, turn away three clients for everyone and we talked about this on our open office hours last week. Turn away three clients for everyone that you bring on board because and it's so counterintuitive, especially when you're getting started, you're like, Nah, man, I need every dollar. Anybody get away. But the thing is and we found it certainly with Comet when we were running the agency and selling GHL and doing all that sort of stuff, we found that for every client we brought on board that wasn't in our vertical niche, that wasn't narrow, they took 80% of our time, right?

And we did it because, you know, we were getting started and everything was you know, we were we were pushing hard as hard as we could, but the ones that we brought in that were outside of our vertical, they took 80% of our time. And in the meantime, the ones that were in our vertical where we had the Snapshot delivery and we had the things that we were able to to deploy quickly and all of our systems were in place, those people came in and had an amazing experience. The other thing with that is the ones that came in that were outside of our vertical churned really quick, you know, so they took 80% of our time, and like, three months later, they weren't with us. Guys not really great, you know, guys were not really like, oh, my God, we spent all this time and they're gone. So if you, if you do get really, really great and this has come from Stars comment, they're working with business coaches. If you do get really great at working with one specific kind of individual, then everything you do can be tailored around that. And one of the great things about our group, about the white label suite group, is that you've got people there that will specialise in other niches so you don't have to lose out.

You can create connections and relationships. So staff, for example, is amazing at business coaches. Well, what if you were amazing at working with real estate agents or financial consultants, right? So now you're working with financial consultants and somebody who's a business coach comes into your world, and you could be like, do you know what? I've got a really great colleague who can who does specifically that you do a deal with your with Star where you do a JV relationship where you kind of split each other a bit of the profits or something like that. And then when that person comes across a real estate agent or financial planner, they refer them to you. Now, guys, now you've got referral partners and you're staying in your niche. So, yeah, again, that's going to be a hard one because we all feel like we're competing. But as I said last week, and I will say for the rest of my life, there's more than enough business for everyone to have more than enough business. And if you're a specialist in one area and somebody brings clients to you, then you're going to do a great job for them.

Chris, I know you got to jump in the comment. Anything you want to shout out before we go.

Yeah, something that I was going to shout out, which is pretty exciting. We just had a meeting yesterday with one of the partners in the group actually, and we were discussing how to make the group even better. And what we're actually going to be doing is building out niche specific snapshots in the future. I mean, they will be probably paid. They'll be as part of like a marketplace so you guys can buy them for a one off and then launch them to 100 of your clients. But we're thinking things like legal or just different consulting and professional services, business coaches. But this will include like, landing pages, obviously, the lead gen tools, the funnels all built out with sequences, automation, emails, like basically snapshots that you can take so you can just funnel leads and contact straight in and straight through to that snapshot and those automation. So if that's something that you guys would want, like, obviously let us know what industries we can start on. That was kind of just a decision that was made yesterday because we thought we just want to keep building and creating resources that are going to help you guys.

So, yeah, that was the only last thing that I wanted to add, but otherwise I can see there's a couple of questions already in the group. Yeah, let's apologise. I'm going to be turning my video off because I'm going to be driving into the city now. Early morning here in Melbourne, but I'll still be around.

But, um, unmute when you when you want to jump in. All right, guys, let me click.