You're listening to “The School of Client Attraction.” Marquel Russell is the founder of Client Attraction University, a marketing consultancy helping you attract clients on autopilot and scale your business while working 50% less.
Quick disclaimer: a side effect of listening to the show is more clients, more profits, more freedom, and it's more impact in your business. Now, here's your host, Marquel Russell.
Marquel: Hey, what's up, my friend? Marquel Russell. Welcome to this brand new episode of the School of Client Attraction.
In today's episode, I'm going to break down the exact seven fatal mistakes entrepreneurs make and are making today. Maybe you're making some of these right now as well on your path to seven figures. All right, I’ve got some notes right here on the handy-dandy iPad because I wanted to make sure I don't miss out on any of them.
No. 1, thinking that what got them to where they are is going to get them to the next level. Right? Let me give you an example. Let's just say you're at six figures right now. You grow your business to six figures. Whatever got you to the six figure mark, a lot of those things aren't going to get you to the seven figures. A lot of those things are actually going to hinder you from getting to the seven figure mark. [01:12.5]
It’s like you can literally hustle to get the six figures, but when you get to seven figures, there are going to be some different habits and things of that nature that are required, unless you're going to just continue to work, work, work really, really, really hard, and you may be able to get there, but going from six to seven, you can actually get from six to seven even faster if you do it the right way or you can burn yourself out completely. Typically, what got you to where you are now isn't going to get you to your next level. That's No. 1.
No. 2. The second biggest mistake is the lack of streamlined systems to predictably and consistently get new leads and clients in the door. Both businesses fall flat on their faces because they don't know where the next lead is going to come from. Therefore, they don't know where the next client is going to come from. Because they don't know what the next lead is going to come from, they typically undercharge, and if you don’t get new people coming into your door every single day, you don't have a business. All right, so that's No. 2. [02:07.2]
No. 3, spreading themselves too thin, trying to be everything to everybody. Let me explain this. There are two different ways to look at this. No. 1, spreading yourself too thin in terms of your marketing and your positioning in the marketplace. You're trying to serve this person and you're trying to serve this person, but you don't have a specific dream client whom you target. That's the first part of it.
The second part of it is not having a team in place, so now you're doing everything. You don't even have an assistant, right? If you don't have an assistant, you are the assistant, right? You're trying to be an assistant. You're trying to be a graphic designer. You're trying to do customer support. You're trying to do everything, so you're spreading yourself too thin and then you end up burning out. That's the third one.
No. 4 is not knowing their numbers, not knowing the numbers and tracking the necessary KPsS and leveraging those numbers to grow. KPIs are key performance indicators. These are the numbers you want to be looking at in your marketing and in your sales process to make certain decisions. Most entrepreneurs make every decision in a business totally based on mental drama and how they feel and emotion. They don't make decisions based on numbers or any data, right? [03:11.4]
One of our principles as a company is in data we trust, so every decision we make as a company is based on the data, and when we don't make decisions, based on the data, things go terribly wrong. That's No. 4.
N0. 5, making decisions based on where they are, not where they want to be. You will hear people say things like, I’m not going to make this investment right now. I'll come back when I have it or I'll invest in coaching when I have the money.
Here's the reality. Most people don't invest in coaching because they are where they want to be. You invest in coaching because you want to get to another level that you aren't now and you see the value in investing to accelerate the process, right? Some people say, I’ll invest this XYZ when I get it, but whatever you've been doing to this point has led you to the point where you don't have it. Right? So, you're saying that you're going to continue to do what you've been doing that has you in a place where you don't have it to somehow miraculously get it. That’s what I'm hearing, right? [04:10.0]
It's like you think, Okay, I'm investing based on where I want to be, not where I currently am, right? To help you understand that, I want to just point out, even if you're not dealing with this, but this is what I see a lot of entrepreneurs struggle with on their path to the seven figures, making decisions based on where they are, not where they want to be.
Okay, No. 6 is valuing money over time. This kind of goes back with the other one. Most people say things like time is money and when people say time is money, I understand that they don't understand time and they don't understand money, because time is infinitely more valuable than money. Right?
Money is a tool to buy you more time. Most people like to put, like one of our clients, Taurea, says, most people like to put money on a pedestal, right? But time actually should be put on the pedestal because you can't get more of it. You only get a small amount of this time, but the cool thing is you make money and you invest it to buy more time. [05:08.1]
Let me give you an example. Let's just say, for example, you decide that you want to learn how to grow your business or whatever the case may be. Let's say, you want to learn how to get your business to 100 grand a month and it took you 12 months to figure that out. Every month that you're not making what you want that you want to make, it's costing you that. Every month you go without making 100 grand, it costs you 100 grand in every single month. Your biggest expense is what you don't know. How do you find somebody who knows what you know, and how can you invest in what they have to help accelerate that process?
Okay, so that's No. 6, valuing money over time. They want to hold onto the money and invest the time watching YouTube videos and buying this and downloading this and watching the webinar, instead of saying, Hey, you know what? Let me find somebody who has the results, who helps other people get the results, and let me plug into them to get results, right? That's No. 6. [05:59.3]
No. 7 is thinking they can grow without proper coaching, guidance and support. It’s very, very, very, very important to have somebody outside of the frame of your picture that you're in, that can actually see your blind spots. Very, very, very important. I don't care if it's marriage coaching. I don't care if it's a marriage. I don't care if it's in business. I don't care if it's in fitness.
Yeah, you can do certain things, but when you can have somebody outside of the frame, they can see things you can't see and it would just be those two millimeters shifted. They see that could help you 10X or 20X, or even a 100X in a very, very short period of time. But if you're limited to your own understanding, it's not very far that you can go, but when you can tap into the genius of others, that can help you really accelerate the process. That's why masterminds and things like that are so valuable.
Those are the seven fatal mistakes entrepreneurs make on the path to seven fingers.
Thank you so much for checking out this episode. Have a phenomenal day because you absolutely deserve it. Talk to you soon. [06:59.5]
What's the difference between you and mega-successful coaches and consultants with a dream business? Simple. They're getting more leads than you are. What if there was a way to get 50 to 100 leads every single day like clockwork? Would you want it? Then go to www.GetDailyClients.com to access our Paid Ad Playbook that has brought in millions of leads for our clients over the years on complete autopilot.
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