Episode 111: How to “Grow Your Own Cult” with Seth Greene – Transcript
Rennie Gabriel 00:09
Hi folks, welcome to Episode 111 of the Wealth On Any Income Podcast. This is where we talk about money, tips, techniques, attitudes, information, and provide inspiration around your business and your money. I'm your host, Rennie Gabriel. In past episodes, we spoke about how to understand the numbers from your business, how to measure the level of pleasure based on where you spend your money, how to track your money in 5 to 10 seconds, what determines how close you are to Complete Financial Choice® and philanthropy, and how to run your business without being in your business, which is perfect for today's guests. And last week, you had me talking about how to focus your marketing on finding more of your best clients with almost no money out of your pocket. Today we have as our guest, Seth Green. Seth is the nation's foremost authority on how to grow your business with a cult of 50 referral oil wells, who promote your business every week for a year. Seth is the co host of the SharkPreneur Podcast with Shark Tank's Kevin Harrington, which was named the number six podcast to listen to by NASDAQ. Seth is a nine-time best selling author who has been interviewed on NBC News, CBS News, Forbes, Inc, CBS, Moneywatch, and many more. His company, Marketing Domination, puts your lead generation and client acquisition on autopilot. And I was very impressed on how, for a virtual workshop, I received a meal to eat while on his virtual workshop. Seth, welcome to the Wealth On Any Income Podcast.
Seth Greene 02:09
Thank you so much for having me. It is an honor to be here.
Rennie Gabriel 02:13
Thank you. Well, we'll get right to it with some questions. So, okay, you help put their marketing on autopilot. Why?
Seth Greene 02:22
Because of the ripple effect. I get up every morning excited, because through the businesses that we work with, we can touch millions of lives literally around the world. We help our clients grow their business so they can run it and then, you know, if I were a chiropractor, I might be able to see a couple 100 patients. But if we help 40 different chiropractors, we're reaching 1000s and 1000s or 10s of 1000s of patients. So through the hundreds of clients we serve, we touch millions of people's lives on behalf of our clients every single day. And we're making a positive impact on the world.
Rennie Gabriel 03:02
Thank you. And well, based on what you're telling me I'm going to guess there's a particular charity that you support, and if so, tell me what they do.
Seth Greene 03:14
I am a... In addition to the synagogue that my wife and I met at and got married at named our kids at and belong to, we also support the Make a Wish Foundation and we support the Crohn's and Colitis Foundation because those illnesses have affected our family.
Rennie Gabriel 03:32
Okay, well, I am sorry that those have affected you personally but I do understand. It's because of my really easy service in the Naval Reserve during Vietnam, that I support veteran causes.
Seth Greene 03:48
Well, thank you for your service, we wouldn't be here without you.
Rennie Gabriel 03:51
Thank you. So tell me who your target markets are. You mentioned chiropractors, but I'm sure it's not limited to that.
Seth Greene 03:58
It is not. We operate in three different verticals. One is professional practices. So the chiropractor, the doctor, the lawyer, the accountant, the financial advisor - the white collar professional practice. Then we work with a lot of authors, speakers, coaches, and consultants. And then we work with course creators and information marketers and ecommerce companies. So those are our three verticals.
Rennie Gabriel 04:20
Okay, great. So now, along a personal note, maybe, whether it was personal or business, this is a two-part question. What was your biggest failure, personal or business? And what was your insight from that?
Seth Greene 04:36
I'll give you the biggest business failure. At an event, years ago, one of the events I was asked to speak at, the owner, the founder of one of the largest personal injury law firms in a multi-state region happened to be in the audience. Dream client. We went back and forth negotiating, fine-tuning, coming up with a proposal to do what he wanted for nine months. Month nine, he said, 'I love it. This is what I want. You're hired. Get me a contract, I'll get you a check'. Now that would have been, it was Friday afternoon, he said, I'll get you a check on Monday. That was a multi six-figure check with seven-figure performance incentives. And we would have offices... our offices would move to the new building he was building - rent free. So my wife and I happened to be shopping for a new house at that time, because we had just had our third baby and we were kind of busting at the seams of our starter house. So I had told her what price range to shop in after he told me, send me a contract I'll cut you a check.
Rennie Gabriel 05:39
Seth Greene 05:40
So, I sent him the contract, don't hear anything. Couple days later, Hey, did you get my email, dripped - leave a couple of messages, not hearing anything... and you know, two weeks go, by I'm getting a little bit nervous. My wife is starting to say, 'Hey, I found a house, I want to put a bid in for it'. And I'm like, we won't get pre-approved for that mortgage without like this check of money down. So it ended up, I literally took a day off of work, went to his office, sat in the office in the lobby with a book and told the receptionist, I don't have an appointment. He's not returning my calls or emails, I brought a book I will sit here all day until I get five minutes. She gets all upset, huffy, stomps back, comes back a couple of minutes later and goes, 'I'm sorry, you're not going to see him today. He told me to tell you, he changed his mind, he doesn't believe it's possible. Not that you can't do it, he just doesn't think anyone can do it. And he's not going to move forward.' And I had to go home and tell my wife, one, the reason I gave you that number was because of this guy and he flaked out on me. So you can't buy the houses you're looking at, you need to go shop in a lower price range. And I had made the mistake, second mistake of hiring people, based on the fact that he said he was coming on board and I hired people because I would need them, those people because I need them to do the work. So I had to . . . My wife was very sweet. When I called her and told her she dropped the kids off at her parents and went to the liquor store and met me at home with a bottle. And she was wonderfully understanding and we've had that house now for about 10 years. And I had to scramble to find the business to support the new employees that I had just hired. I didn't want them to be the fastest turnaround in the door out the door ever.
Rennie Gabriel 07:27
Seth Greene 07:28
And the lesson I learned was don't spend the money physically or mentally, until the check actually clears your bank account. Because as entrepreneurs, we get addicted to you know what I call hopium, which is someone said, gives us positive indication and we assume that they're going to be a man or a woman of their word - they're going to follow through. That means they actually want to move forward. And we start thinking about how we're going to spend the money in some cases, actually spend the money. And then we get a rude awakening. So I learned don't go on the emotional roller coaster. Don't get excited until the money clears your bank account. Most importantly, don't tell your wife until you actually have the money.
Rennie Gabriel 08:09
And don't tell the wife... I've gotta add that - don't tell the wife.
Seth Greene 08:15
Yes, she is... I have gotten much better at that and in the last seven months of this year, as we're recording this, I've only taken her on one emotional roller coaster and told her about one awesome thing that was supposed to happen. Everything else I waited until it actually happened to tell her I only fell for it once, which is like I heard this story before. Call me when you actually get the money.
Rennie Gabriel 08:36
Yeah, yeah, I've been here before I got it. So well. You know what, I guess this example of the perfect attorney client? Leads well to the next question, because here's someone who for nine months you courted and then changed his mind saying he doesn't believe this can even be the done. What are the typical feelings that your prospects experience before they start working with you?
Seth Greene 09:06
So we normally don't run into that issue. That was a rare rare occurrence even though we could prove we had done it for somebody else. It was a just that he had a mental limiting belief and wouldn't get over it. So normal feelings are excitement of 'Oh my god, we get is this too good to be true? Can you really deliver this?' We get the -if you're generating the 50 referral oil wells 50 people who were serve my clients - serve my target market and were going to refer to me every single week. Can I handle it? We need to hire people. We've had people who say I only want to grow my business 10% Well, then we're not a good fit for you because I can't throttle it back and only get you 10% We're going to grow you a heck of a lot more than that. So I probably get the surprise, delight. Is it too good to be true? Can you actually deliver? And then can they actually handle the work we're going to generate for them - which is my favorite problem the cause. Which is the 'Oh my god, I got too much business now. Can you slow down?'
Rennie Gabriel 10:03
Yeah, fun conversations? Well, you know, tell me about hiring and things like that, you know, after they've hired you, what are some of the common mistakes that they make?
Seth Greene 10:14
They try and reinvent the wheel, they don't let us do our jobs, the way we know how to do our jobs. They don't get us what we need, we will work at our clients pace. So the faster they get us things, the faster we work, if they say, I'll get that to you and it's a month goes by - they wasted a month. So I would say biggest mistakes they make are not letting us do our jobs, trying to reinvent the wheel, and breaking the process and not moving - not moving fast enough to get to the return on investment.
Rennie Gabriel 10:45
Terrific. Could you give me an example a case study of someone where they were they hired you and what the result was?
Seth Greene 10:55
We've got shoe boxes full? Absolutely. So I'll give you an example. We have a financial advisor whose target market is dentists. And we've been able through our process to not only get him relationships with over 50 of them, but we've also gotten his practice in front of over 30,000 dentists. And we're producing a summit for him in a couple of months. That will have him literally in front of 100,000 dentists.
Rennie Gabriel 11:27
Oh my gosh. Okay. Yeah. Sounds like once you get going, it's difficult to throttle back to a 10% growth.
Seth Greene 11:34
It depends on the service we're talking about. If we're talking about our, you know, referral, oilwell service. No, I can't throttle that. If it... I mean, they could just fail to follow up with the relationships we get, and then the referrals would trickle off.
Rennie Gabriel 11:49
Seth Greene 11:49
However, if we're talking about online advertising, where we're running traffic to a funnel online, that you can throttle back, because you can scale back the ad budget or pause the ads.
Rennie Gabriel 11:59
Got it? Okay. Yeah. You know, I remember something similar. When I owned a pension administration company. There was a CPA that every time I got together with him for lunch, he always had another referral for me.
Seth Greene 12:13
And you should go to lunch a lot.
Rennie Gabriel 12:14
Exactly. So I decided we would go to lunch, at least every month, and every month, I got a new referral.
Seth Greene 12:21
That is awesome. Now all you had to do is go back in time and go to lunch every week.
Rennie Gabriel 12:27
Yeah, well, you know, we were the throttle it back business stage.
Seth Greene 12:31
Got it understood.
Rennie Gabriel 12:33
Let me see if is there a valuable free resource that people can download or see that would support them finding out more about you?
Seth Greene 12:44
Absolutely. If they go to growyourowncult.com, we have about a 30-page ebook that is on Amazon, that's normally $14. For your listeners that you can get 50% off - 7 bucks. I promise it will be the best $7 you ever spend on your marketing, or I will give you your $7 back? And that's GrowYourOwnCult.com
Rennie Gabriel 13:06
Great. Okay, I got that in the show notes. And is there a question that I should have asked you, that would also give some great value to those who are listening? Oh, and what would the answer be - besides the question?
Seth Greene 13:20
Right. There's probably a list and we could probably talk for a couple days on what all those questions might be. I'll give you an easy one. What's the biggest mistake we see business owners and entrepreneurs making with their marketing? And the answer to that is been boring. If you are, let's say a financial advisor, and your brochure looks... If you work at Merrill Lynch, and I compare you to a Morgan Stanley advisor and the only thing different is the logo, everything else is the same... the prospect will not know who is different and they will default to the lowest price. So we do a lot of marketing makeovers, a lot of rebranding of our clients so that they stand out and they're in a category of one, so that even if they think, 'Well, I'm just a financial advisor, I sell insurance and investments'. We can make them stand out from the 3000 other investment advisors in their town so that they actually get the leads and the business they deserve.
Rennie Gabriel 14:19
That makes perfect sense. That's something I learned probably 40 years ago when I was in the insurance industry is you want to be on a shelf by yourself, not like another brand of laundry detergent.
Seth Greene 14:34
Exactly. You don't look old enough to have been in the insurance business 40 years ago.
Rennie Gabriel 14:39
Thank you, Seth. Yes, actually, I've been in business for 50 years. So we won't talk about that.
Seth Greene 14:45
Rennie Gabriel 14:46
Seth, thank you for taking the timeout and thank you for being on my show.
Seth Greene 14:52
Our pleasure. I'm thrilled to be here.
Rennie Gabriel 14:54
And to my listeners. Thank you for tuning in. Next week, we're going to have the Daniel Aaron, this is a departure - speaking about how to live a vibrant life as an entrepreneur who primarily works with spiritually-oriented people.
Seth Greene 15:11
He's been on my show, I've got his book, he was really good. He's going to be a great guest.
Rennie Gabriel 15:15
Oh, yeah, I know. And Daniel was also a client of mind. So you can listen to the Wealth On Any Income Podcast on your favorite platform. And please rate, review, and subscribe. And if you'd like to know how books, movies and society programs you to be poor, and what the cure is the log on to wealthonanyincome.com/TEDx, you'll hear my TEDx talk, and can request a free 9-step 27-page roadmap to Complete Financial Choice® and receive a weekly email with tips, techniques, or inspiration around your business or your money. And if you'd like to see how you can increase your wealth, and donate to the causes that touch your heart, please check out our affordable program Wealth With Purpose on the wealthonanyincome.com website. Until next week, be prosperous. Bye bye for now.