Tom Matzen and Daryl Urbanski discussed the three steps to building a seven figure authority business: creating a complete run for your service, identifying the target audience, and outsourcing to the best and brightest. Tom Matzen and Daryl Urbanski shared their entrepreneurial journey, emphasizing the importance of testing and validating business ideas, delegating tasks, and creating high-ticket programs. Daryl Urbanski and Tom Matzen also categorized people in the business world into four groups and shared insights on the habits of successful entrepreneurs, including embracing failure and prioritizing self-care.
Here are three reasons why you should listen to the full episode:
Learn from an expert of six figures and seven figures.
Stay up-to-date with the latest trends using a growth mindset for future success in a few months.
Discover actionable advice and tips that you can implement in your own business right away
Resources
- Connect with Tom Matzen through his website
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- Check out his Twitter
- For more Informative Interviews Click Here.
Episode Highlights
Building a seven-figure authority business with Tom Matzen
- Daryl Urbanski interviews Tom Matzen on building seven-figure authority businesses.
- Tom has made millions of dollars in business and personal coaching, and has shared his message with over 100,000 people worldwide.
- Tom started their first business as a DJ service, playing for various events and highlighting their USP as "we play for anyone, which means nobody".
Entrepreneurship, business lessons, and partnering with the right people
- Tom shares their experience starting a DJ business with a friend, earning $200/weekend despite scalability issues.
- Tom Matzen shares lessons learned from testing business ideas before creating them.
- Tom Matzen compares dolphins and sharks, suggesting that dolphins are team players while sharks are predators.
- Tom identifies a new category, "enlightened sharks," who appear helpful but are actually self-serving.
Gathering feedback for business ideas before selling them
- Daryl Urbanski shares his insights on the motivations of successful information marketers, drawing from a tale by Jim Rohn.
- Tom advises listeners to be aware of the self-interest of big names in the information marketing space, comparing them to scorpions.
- Tom Matzen shares insights from a recent live event, emphasizing the importance of impact and results in business.
- Tom provides a high-level feedback process for creating scalable, high-margin programs.
Validating business ideas through feedback from ideal target market
- Tom explains how to create a successful business by identifying and serving the ideal target market.
- Tom emphasizes the importance of getting feedback from experts in the target market, rather than random strangers.
- Tom discusses their event, the Million Dollar Strategic Alliance Summit, and how it guarantees signed deals worth $1 million.
- Tom asks attendees directly what they would pay for the event, with most people offering lower amounts than the actual price.
- Tom shares insights on selling products and joint ventures.
Marketing strategies for high-ticket sales, emphasizing the importance of building a strong list, offering guarantees, and providing value to clients
- Daryl Urbanski and Tom discuss how successful businesses often start by selling to high-end clients before scaling down to the masses.
- Examples include Tesla, CrossFit, and Jeff Walker's business, which started with high-ticket items before expanding to reach a wider audience.
- Tom Matzen emphasizes importance of guaranteeing results for clients, citing data showing 9 times more interest with a good guarantee.
- Entrepreneurs should build redundancy in their coaching or mentoring services to ensure accountability and impart skills to clients.
Building a successful business by diversifying revenue streams and conversion strategies
- Tom emphasizes the importance of redundancy in business, including multiple revenue streams and conversion strategies.
- Redundancy helps mitigate risk and increase energy efficiency, according to Tom Matzen.
- Tom Matzen emphasizes importance of multiple lead gen strategies (3 for each revenue stream)
- Redundancy in each layer (3 for each of 3 revenue streams)
Outsourcing, guaranteeing results, and managing leads
- Daryl Urbanski shares his experience with lead generation and conversion strategies, emphasizing the importance of testing and managing leads.
- Daryl highlights the challenges of predicting people's wants, needs, and desires, and the need to put multiple strategies in place to find what works.
- Outsourcing to best and brightest shortens learning curve to profitability.
- Tom shares Jay Abraham's advice on dealing with clients: 100% of clients will screw you, so plan for it in your business model.
- Tom explains how Jay Abraham handled the issue of clients making more than him: He took a percentage of gross, included buyout clauses in contracts, and built a business model around being screwed.
Creating a successful joint venture business model
- Tom describes a joint venture model where money flows through a separate account, ensuring everyone's protection.
- Tom and Daryl Urbanski discuss the benefits of outsourcing to best and brightest for faster results.
- Anurag Gupta and Chip Wilson's business coach taught them to set goals and double them to guarantee success.
Entrepreneurship, scaling businesses, and the importance of planning and processes
- Daryl Urbanski learns $400,000 lesson on scalability from failed business venture.
- Entrepreneurs need to find ways to duplicate themselves and create systems for success.
Entrepreneurship habits, including embracing failure and early riser
- Tom emphasizes the importance of embracing failure as an entrepreneur, citing Richard Branson's advice to "fail faster."
- Early risers tend to be more successful entrepreneurs, according to Tom Matzen, who prioritizes their morning routine for clarity and productivity.
- Daryl Urbanski discusses sleep's impact on athletic performance and creativity, citing research showing that sleep before midnight is more valuable than sleep after midnight.
- Tom shares personal experience with sleep deprivation, highlighting its negative impact on cognitive function and physical health.
Habits for entrepreneurs to perform at their best
- Daryl Urbanski and Tom discuss the importance of self-care for entrepreneurs, citing examples from their own experiences.
- Daryl and Tom emphasize the need to take time to ground oneself when things are stressful, using techniques like active meditation and spending time in nature.
- Tom discusses the importance of getting in one's "zone" for peak performance and shares a personal experience of increased productivity during a flight.
- Tom and Daryl Urbanski offer a gift of a master class on creating high-ticket, high-margin programs to help listeners package their wisdom and increase profit and life simultaneously.
Scaling and growing businesses with strategic philanthropy
- Tom provides a link to masterclass dot entrepreneur empowerment.org, a free training program with a guaranteed 40 clients per year.
- Tom Matzen's masterclass format is a game changer for webinar marketing, with a deep dive into exactly how to generate 250,000 per year.
- Tom discusses the impact of masterclasses, sharing examples and encouraging entrepreneurs to set their businesses up to do good and make money simultaneously.
- Tom offers to provide the method for designing businesses that can do good and make money at the same time for free, anywhere in the world.
- Daryl Urbanski thanks listener for listening and shares tips for personal and professional growth.