The Millionaire Mentor Plus Two Urbanski’s For The Price Of 1 - With Adam Urbanski

Have you ever felt stuck on what to do next for your business? You have a myriad of excellent ideas, but you're not quite sure how to execute them. Among these ideas, your marketing strategy is a key ingredient to your success. Thus, you need to make sure that you’re aware of the fast-paced business environment, adapt to changes, and learn how to do things that will help you execute effective marketing solutions.

At the end of this podcast, business owners and entrepreneurs will learn the valuable business marketing methods. Our guest, Adam Urbanski, also known as The Millionaire Marketing Mentor®, shares the best ways to foster prospects. We also talk about how he got ahead in the fast-changing business world and how to solve business problems effectively.

If you're looking to take your business marketing to the next level, this episode will be of great value to you!

Here are three reasons why you should listen to the full episode:

1. Discover the importance of having situational awareness.
2. Learn the concept of the theory of constraints and how you can leverage it in your business.
3. Find out how you can go platinum in marketing your business.

Resources

• Learn how to generate million dollars of revenue with The Marketing Mentors!
• Connect with Adam: Facebook | Twitter | LinkedIn | YouTube
• InfusionSoft
• Psycho-Cybernetics by Dr. Maxwell Maltz
• Think and Grow Rich by Napoleon Hill
• The Secret of Selling Anything by Harry Browne
• List of books by Dan S. Kennedy
• The Goal by Eliyahu M. Goldratt
• Know how you can boost your prospects with the Attract Clients Like Crazy System!

The Millionaire Marketing Mentor's Million-Dollar Blueprint

Moving to the U.S. from Poland

• Adam says that he was "young and stupid" when he came to the U.S.
• He moved to the U.S. in 1989, around the time the Polish communist government ended and democratic elections began.
• His motivation was to escape the no-opportunity mentality and make his way elsewhere. Another thing was Poland's three-year mandatory military service.
• Adam came to the U.S. with only 194 bucks with limited English speaking skills.

Figuring Things Out

• "Survival of the fittest" defined Adam's journey: he was a high school graduate with no skills. It took him around three to four months to find his bearings. 
• Listen to the episode to know how Adam turned 50 cents into $5 multiple times a day by installing peepholes!
• Most people become entrepreneurs because of their academic and educational background. They always wait for someone else to permit them.
• One of the things that got Adam ahead is claiming to be something and proving it.
• Not learning quickly enough was not an option. If he waited to get training or get certifications, he would have starved.

Adapting to the Fast-Changing World

• The top-paying jobs and marketing innovations today didn't exist years ago.
• It would be best if you had situational awareness of what's going on in your marketplace.
• You can always get ahead and do well for yourself with this awareness.
• Adam takes quotes that people take for granted and find what they mean for him. He asks about business, “Are you where the puck is, or are you heading where the puck is going?”
• Listen to the full podcast to learn how Adam relates the quote to business adaptation!

The Biggest Challenges Adam Faced

• The minor things are not speaking English and not having money, connections, and education. The major challenge was being lazy and wanting to be rich.
• The best entrepreneurs are lazy. They're always looking for a better way to accomplish something, driving them to create new solutions.
• Adam thinks that he hasn't come across his biggest challenge yet. He calls himself the optimistic realist. 
• Another greatest challenge is himself and his way of thinking. 
• The skills you've got may also be what's hindering you from going to a million-dollar level.

Solving a Problem

• You cannot solve a problem with the same level of thinking awareness that created the problem in the first place.
• From your vantage point, you may only be seeing limited solutions to your problems.
• The key is to engage in activities driven by where you want to be, not from where you are.
• When you feel stuck in a problem, think about it as if you were in a different place.
• Moving away from the problem and gaining a new perspective can show you the opportunity behind the problem.

Gaining Wisdom from Books

• For Adam, our way of thinking is 95% of the foundation that decides whether we succeed or fail.
• Some of the first skills an entrepreneur must master in marketing is selling and persuasion.
• He has his team read the book The Secret of Selling Anything by Harry Browne. It says that everything is about the exchange that gives us more happiness.
• The book teaches you present offers that make prospects see them as a pathway to happiness rather than spending money.
• Tune in to the full podcast to discover Adam's favourite books!

Adam's Biggest Mistakes and Lessons

• One of the biggest mistakes is not reaching out for help fast enough. Being a fast learner created an illusion of not needing support for Adam.
• He can only reverse engineer what he sees in other people's programs, not what he doesn't. Tune in to the podcast to hear Adam's Ferrari analogy!
• His biggest mistakes: not generating a process and not looking at someone who was doing it better and reaching out.
• Our perception of investment is the higher the amount, the greater the risk. However, the risk is the same, whatever the amount, and as a result, it trips us up.
• The price you charge has less to do with your methodology and more with the client's potential for gains.

Theory of Constraints

• Put together a triangle. You have three constraints if you want to be at any one of the corners.
• These three constraints are cheapness, speed, and quality. You can never have all three.
• Customers who want to get things done faster with the least amount of energy understand that it requires increased investment.

Going Platinum in Marketing 

• Creativity often leads to distraction. Some entrepreneurs are more excited about the idea of what isn't than what is.
• Adam shares the concept of going platinum in marketing the business with his clients. It roots in the music industry, in which Adam gives an in-depth example in the podcast.
• One of Adam's most popular programs is Attract Clients Like Crazy. He promoted it for a decade and held a webinar every week with different promotional partners.
• The mistake of most creatives is creating something new instead of finding a better marketing strategy to promote what they have.
• Tune in to the podcast to hear how Adam's clients found success in going platinum!

What's Next for Adam

• He's working on putting together better promotional materials for his existing marketing programs.
• Adam focuses on teaching marketing to people through three things: consistency, redesigning the delivery method, and prospect persuasion.
• His commitment to his coaching business is only two hours a week. The value is measured by the results, not the time they spend working.
• Unveil the path for a prospect to decide to invest in themselves and get access to your solutions.
• What will make prospects happier is either gain something that will improve their ways or eliminate a problem. 

5 Powerful Quotes from the Episode

“I had no skills, I had no title, I had no education. So I couldn't rely on this. I basically had to go and claim to be something or someone and just prove that I am it.”

“The skill he was teaching them was situational awareness. Like you can’t just be a solo player in the pool amongst other players, you have to be there and you realize you’re part of the entire pool. So even though you’re swimming with a ball, and whatever you are, whatever you're doing at the moment, you've got to be aware where the rest of your teammates are, where the opponent is. So you've got to be aware of the entire pool. Because if you don't, you're gonna get crushed, you're gonna get you know, your balls gonna be taken away from you, you're gonna be blocked, you've got to be aware of the whole thing.”

“I really believe that whatever we undertake, 95% of the foundation that decides whether or not we will succeed or fail is really our thinking.

“When I want to get something done, I'm looking at who is already doing it successfully, that I know that I can get proof that it's done, that they're doing it ten times better than I am, and reaching out and say look, you know, how you're doing this or here's what I'm doing, how can I infuse some of what you've learned into what I'm doing to expedite the results.

“And one thing that people don't realize, (is) that the price that you get to charge for what you do has less to do with you, your methodology, the quality of what you do, and nearly everything to do with the prospective clients, potential for gains.”

About Adam

Adam Urbanski, also known as The Millionaire Marketing Mentor®, is a marketing strategist who has coached 30,000 business owners. He's a small business change agent, marketing wiz, entrepreneur, trainer, facilitator, and speaker. Adam teaches effective and affordable business development strategies. 

Through The Marketing Mentors, he provides marketing training programs and popular distance learning, from short teleseminars to year-long coaching engagements. By following his advice, Adam's students and clients can generate millions of dollars each year.

You may connect with Adam through The Marketing Mentors. You may also reach him out through Facebook, Twitter, LinkedIn, and YouTube.

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P.S.

• Do you already have a successful business, meaning you're up, running, and paying your bills with some profit left over?
• Are you interested in growing your business, automating/streamlining things, and staying one step ahead of your competition?

📨 If you can answer YES, visit https://www.members.bestbusinesscoach.ca/problems-we-fix/ to see if we can fix what's holding you back.

Check out this episode!

How to Sell Your Business: 17 Types of Billion and Million Dollar Exits with Steph Sharp

Have you ever thought to sell your business and start anew? It’s challenging to know how to sell your business at a good price and deal. Studies have shown that business owners have a success rate of 5% in selling their businesses! It’s not just about the exit; you need to have a good strategy.  

In this episode, Steph Sharp joins us to talk about how exits start with knowing how your business works. An attractive business can operate and thrive without its owner. Steph also shares exit strategies and common pitfalls you might encounter while you try to sell your business. 

If you want to learn how to exit your business, then this episode is for you! 

Here are three reasons why you should listen to the full episode:

1. Understand the ways you can make your business transferable and scalable.
2. Learn how to make your business attractive through the right pricing, business model, terms, and documentation.  
3. Discover the different ways you can exit and sell your business. 

Resources

• Rich Dad's Cashflow Quadrant by Robert T. Kiyosaki
• The 7 Habits of Highly Effective People by Stephen R. Covey
• Built To Last by Jim Collins
• Follow Steph’s work on Millionaire Exits and Facebook.
• You can also reach Steph through her email Steph@MillionaireExits.com.  

Episode Highlights

Knowing Your Business Inside and Out

• Steph shares her story of starting with small businesses, investment banking and capital markets, and eventually negotiations. 
• There are five types of businesses: charity, hobby, job, basic business, and transferable business. 
• Understanding your type of business makes it easier to know what exit strategies to employ. 
• For example, most basic businesses are profitable. However, people cannot come in and do your work. 
• Scalability and transferability are important aspects of exiting a business. Hear Steph’s in-depth discussion in the full episode!   

There Is Always A Way Out 

• We don’t need to be trapped in a business for life. There is always an opportunity to create a way out. 
• Step back and ask yourself: why do people buy a business? 
• Most people don’t buy a business because it can make money. People buy a business because they believe it can make money. 
• Knowing this, you need to show how your business drives profits.
• Make sure that your effective systems can be repeated and transferred to another. 

What Are You Transferring? 

• Legal documents and paperwork are not the end-all and be-all to sell a business. 
• Transferring a business is about making sure it does not fall apart after getting sold.
• The research shows that business owners finance as much as 80% of their businesses.  

Financing, Earnout, and Capital Markets

• Earnouts occur when owners get paid for their exit over time. This deal can create the problem of a buyer backing out a year into the contract. 
• When you sell your business to people who don’t know how to run it, you may eventually have to come back to take over again. 
• Seller financing is also a popular option for selling businesses. 
• Capital markets are often in the hunt for good business deals. 
• Listen to the full episode to get a clearer understanding of how to market your business. 

Common Pitfalls of Business Exits

• Steph shares that one of the biggest mistakes when you sell your business is not having an adequate financial record. 
• Proper business documentation is also necessary. This document should be the operating manual which details costs, clients, and the like. 
• When owners think of selling their business, they're often at a point where the business is deteriorating. 
• You need to make sure your business is attractive to potential buyers. 
• Typically, a business is worth about a third to half of what the owner thinks. 

Profit Is Not Cash Flow

• Remember that profit is affected by depreciation and other non-cash variables. 
• On the other hand, cash flow is how the buyer will pay off the loan for buying the business. 
• You need to be able to answer how many years they will be paying for the loan before they start earning money. 

Disconnect Between Owner and Business

• A lot of owners think they have employees, coaches, or contractors who will buy their business. This is not the case. 
• People will often choose to start their business rather than buying one. 
• This is also applicable to employees: how do you make sure your employees stay and don’t start their own thing? 
• Rather than just sell your business, you also need to think about how you want your lifestyle to change after the exit. 

Exit Strategies

• Business owners often don’t have exit plans for their business. 
• Exit strategies are crucial for emergencies. If you are the focal point, what happens when something happens to you? 
• Ultimately, you need to craft a business that can continue to work and thrive without you. 
• One exit strategy is going public. This causes a significant boost to your business value. 
• Tune in to the full episode to hear more about exit strategies! 

Expected Timeline of An Exit

• Steph shares that you can expect 3-4 months to pinpoint what you’re selling exactly. 
• Spend some time structuring your selling process. 
• Get attention and attract buyers quickly.
• Steph’s 100% sell rate is due to the attention to correct pricing, terms and expectations, and good business documentation.    

What the Data Shows

• Financial statements often break down costs for labour, fuel, operation, and others. 
• You need to make sure your statements can show how the business operates clearly. 
• Too much information and detail can clutter your documentation and financial statements. 
• When selling, you need to be able to pinpoint patterns and trends. 

It’s Not the End, It’s A Transformation

• People often put off selling due to the fear of letting go of something integral to their identity. 
• Look at exits as an opportunity for new growth, business, and life instead! 

5 Powerful Quotes

“We have no condemned people. There’s always a way out — we just have to create it. . . It used to be that we could get trapped. But with the internet, with technology today, there are so many ways out now.”

“If you’re not ready for that exit, if you don’t have a business that’s- if you don’t know how you’re going to transfer that out. . . You’ll wake up in three and a half years and you’ll look around and you go, ‘Oh my gosh, look at all these businesses for sale. How am I gonna sell mine?’”

“Sometimes it’s simply a matter of sitting down with them and clarifying what their business model really is. What drives the profitability, how do they actually do the pricing? Just because it’s in someone’s head, doesn’t mean it’s going to take you months to get it out of their head.”

“People, when they start thinking about selling, it’s often they’ve thought about it, and they leave it too long.”

“People get told they should go down a certain pathway — like franchising, like an IPO, whatever. And it doesn’t suit them personally; it’s not aligned with who they are and how they want to spend their business life.”

About Steph

Steph Sharp has been involved in $20 billion deals and worked with over 400 clients in every industry. Her experience spans professional and health services, utilities, ferry operations, technology, retail food processing, and finance. 

Steph’s finance career specialized, particularly in exit transactions. She has worked with Goldman Sachs Bank of America, CNBC, corporations, individuals, private equity funds, and venture capitalists. Over the last 20 years, she has trained hundreds of entrepreneurs, business owners, and professionals worldwide to successfully exit their businesses.  

Interested in Steph’s work? You can follow her on Millionaire Exits and Facebook.

You can reach Steph through her email Steph@MillionaireExits.com.

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P.S.

• Do you already have a successful business that is up and running, able to pay its bills with profit left over?
• Are you interested in growing your business, automating or streamlining things, and staying one step ahead of your competition?

📨 If your answer is YES to all three questions, visit https://www.members.bestbusinesscoach.ca/problems-we-fix/ to see if we can fix what's holding you back.

Check out this episode!