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.
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.
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
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
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.
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
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.
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..