How To Get 9 Times The Prospects To Raise Their Hand and Ask For More Details - With Tom MatzenMay 05, 2021
Tom Bailey, Founder of Succeed Through Speaking, Interviews Tom Matzen
Authority entrepreneurs hire Tom to build seven and eight figure enterprises by helping them package their wisdom to build global movements.
Tom has started 89 businesses, eight to seven figures plus. More importantly, his personal coaching clients have generated more than one hundred million in sales in dozens of industries.
Why you've got to check out Tom's episode:
- Discover how Tom helps speakers, authors, influencers, business coaches and consultants.
- Learn why the business challenge of 'needing more clients' actually means 'needing a system to attract clients' and how you can screen, qualify and disqualify prospects to help attract high paying clients.
- Understand the impact of inconsistent cashflow on expert business owners and the cycle of inconsistency which drives businesses crazy in this industry. And why this means most business coaches struggle to move from a hobby to a business.
- How to get really clear on your 'Right Fit Client' or ideal client personal and the importance of offering a risk reversal guarantee linked to your results to help attract and close your prospects.
- Get access to Tom's Entrepreneur Empowerment $10,000 programme for FREE as a Scholarship that Tom is giving away. You will need to apply and if you are accepted you will gain access to this incredible programme for completely free.
Resources / Links
Tom Bailey: Hello and welcome to the Flow And Grow Expert Interviews. The place for experts and entrepreneurs who want high value ideas to boost business results.
Hello, I'm Tom Bailey. And I'm joined today by Tom Matzen, who is an international best selling author speaker, and the go-to expert for authority entrepreneurs who want to build seven and eight figure businesses. So, Tom, hello and a very warm welcome to today's episode.
Tom Matzen: Well, I'm so excited to say that it's time for the double Tom show or Tom squared.
So. There's any Tom's listening in. Be sure to send us an email.
Tom Bailey: Thanks, Tom. And whereabouts are you in the world? Right now?
Tom Matzen: I am on a little Island, just outside a Vancouver. One of the prettiest cities in the world, the Island we live on is the size of Manhattan, but instead of 13 million people, it has 13 million trees and about 3000 people.
So, it's pretty nice.
Tom Bailey: Incredible. And let me get into the subject of Tom then. So amazingly Tom has started 89 businesses and they're seven to eight figures plus, and more importantly, his personal coaching clients have generated over 100 million in sales, in dozens of industries. The title for today's episode is How To Get Nine Times The Prospect To Raise Their Hands And Ask Them More Details.
And Tom's going to try and show us how to do that in just seven minutes. So, no pressure, Tom. Good luck. Your question number one is who are your ideal clients?
Tom Matzen: In our case, our ideal clients are speakers, authors, influencers, business coaches, and consultants. So, we have five target audiences across our eight divisions.
Tom Bailey: Fantastic. And if we look across all of those target audiences, what is typically the biggest challenge that they face?
Tom Matzen: Oh, that's easy. And that extends to many other audiences too. I've been an entrepreneur for over 37 years and the answer has always been the same. They describe it as more clients, more prospects, more sales.
But you know, basically what I've learned is most of them don't have a system. For screening, qualifying and awarding clients. And so, they want more clients, they think that's the solution, but their solution is actually a system to do that in a way to do it. So, they're attracting the right clients and they're rejecting the wrong clients and then life is a lot more fun and you have a lot more influence, a lot more impact. And what does surprise a lot more income.
Tom Bailey: Yeah. Fantastic. And I guess, like you said, then it's not just qualifying, it's actually disqualifying the clients that you don't want to work with as well.
Tom Matzen: Totally your screening and qualifying as an essential part. If you're going to be an authority, you need to be saying no, as much as you're saying yes to the wrong people, right.
You say no to the wrong people. So yes. To the right people.
Tom Bailey: Got it. And if you haven't got this in place as a entrepreneurial business owner, what impact does that typically have on the business?
Tom Matzen: Inconsistent cashflow. Inconsistent cashflow, you spike up, you get some clients, you're busy servicing the clients, you're helping them out.
And then a few of them leave. And Peter often it had done, Oh, my God, I go to the BNI meeting or the chamber meeting or, well, I get some clients and then you start running what we love to call Facebook philanthropy, right? Where you're donating money to Mark Zuckerberg, by the way he doesn't need anymore.
He's got a lot now. And you know, you're trying all these strategies or tactics really to recoup. And then you got a bunch more clients. If you're, if you stumble across that or you know what you're doing, and then you get busy doing that and you go through that same cycle up and down, up and down. And the cycle of inconsistent cashflow is the thing that drives established authorities crazy, of course, new authorities. They're not even getting off the ground. I mean, the the average business coach makes 51,000 a year. Us, you know, I live in Vancouver. You can't buy a house. For less than 1.2 million. So, I mean, you'd have to have 12 business coaches living in the house and you still wouldn't for a mortgage.
So, part of the problem with their businesses is they don't even get off the ground and go from a hobby to a business and to the existing businesses. It's that inconsistent rollercoaster cash. Got it.
I know that we've triggered a bunch of people that are listening in already. So, yeah, I'm sure we'll give you some solutions.
Hang in there. We've got six more minutes left.
Tom Bailey: And that leads us onto the next question, which is what is one valuable piece of advice that you might give to somebody to really help them solve that problem of inconsistent cash flow?
Tom Matzen: Well the first thing is without a doubt, be really, really clear on your, on your target market.
We call it your ideal target market. Some people call it your avatar. I don't like that term because it's kind of like a play made up fantasy term, Right Fit Client. I love that one. Right Fit Client. So, you gotta be clear on that. And then the second thing for anyone who's selling knowledge, wisdom, authority experience, you should be offering a guarantee linked to your results.
You should be offering a guarantee that's linked towards your results. My mentor, Jay Abraham called at risk reversal. And so, I started doing this some 23 years ago and it's been the single biggest factor. That number one is never allowed me to have less than a six-figure year ever over that period of time.
I've had lots of ups and downs, right? Shut up. I absolutely shut up. But by, by having a strong risk, reversal you shift the risk from your prospect shoulders to your shoulders? And it makes it way easier to attract the right people. It makes it way easier to sell or what we call screen, qualify and award, and it makes it a lot more fun.
Plus, frankly, you get around the biggest problem that most people have. They're really good at what they do, but they're not really good at selling what they do. And when you have a strong risk reversal, you can say things like, you know, Tom, we're so confident about our million dollar book launch program that we literally guarantee 75% of your payments to results.
Fantastic. And when people hear that they go, what do you mean? Like how does that work? And then you have a real engaging conversation rather than you chasing someone saying, Hey Tom, what about a book launch program? Hey, what about a book launch program? You know, you're not supposed to get seven ‘nos’ before you start pitching them.
Yeah. That's not for high ticket, high ticket or meaningful decisions. Use a whole different approach that works best. And we find the key piece behind that is having that strategic risk reversal offer or, you know, guarantee on steroids. Fantastic. And during COVID time, I don't know if we can say that and we probably, it does. All right?
Tom Bailey: Let's keep that. Be able to take it out. So, I'm sure you've got a ton of people that you can help who have got these challenges. So, could you let me know what is one valuable free resource that you could share to really help people solve that problem?
Tom Matzen: Well, we cause we like to over-deliver we've got two, one is a link to a document where we explain this strategy of how you can do it.
Cause I'm sure anyone tuning in the first reaction is yeah, but I can't guarantee results. How do I do that? I can't guarantee that my client will listen. I can't guarantee if they'll do this. Yes, you can. You just need to follow a process, a proven method. So, ninetimestheprospects.com write it all out.
All one word ninetimestheprospects.com link will be in the show notes. I am positive and you will get that. And then more importantly, if you are serious about making a real income, you need to have a high ticket program. That guarantees results for your clients. So, you can make real revenue and give real impact to them.
And we're so committed to this about a year and a half ago, we decided to start giving away our most popular program. It's a $10,000 program with accountability, partners and coaches and support and training and knowledge and skills for you to do exactly that in four months, create blueprint, validate and sell your first or your next.
High ticket program and we're giving away as a scholarship today in the show notes, you guys will see the link down below.
Tom Bailey: Amazing. Thank you so much, Tom. I'll definitely put that in the link because I'm sure that's a huge value for a lot of people listening to this episode.
Tom Matzen: You're welcome. And people are gonna listen to and go, what do you mean an actual full scholarship for $10,000?
Well, there is a catch you have to qualify right now about 81% of the people that apply are accepted. So, if you have zero authority and no desire to build it, you won't be accepted. If you have no time to put towards the project, you won't be accepted because you're just going to waste our coach's time.
And so, but other than that, virtually everyone gets accepted and it's awesome. We love it. We're happy to give it away. It's been our giveback strategy during COVID we've given away over $5 million worth of scholarships. Wow. And hopefully another 5 million to come this year.
Tom Bailey: Fantastic. Thank you so much for sharing that. And question number six is slightly off topic now, which is, what would you say is your greatest failure that you've ever made either in life or business? And what did you do you learn from it?
Tom Matzen: Oh, I've got a lot of those. We need another seven minutes to cover those, but I'll just pick one. I took a company public on the Toronto stock exchange and then managed to take a $21 million IPO and turn it into 10 million in debt in six easy months.
Wow. Congratulations. Thank you. Yes, it was Epic. It was an Epic fail. It'd be a whole book on its own, but it was an Epic fail, big lesson. Don't hire sharks, only hired dolphin. You're a dolphin.
Tom Bailey: Fantastic. Thank you very much for that. And the last question from me today is what is one question that I should have asked you that will also bring great value to this audience?
Tom Matzen: Oh man. Oh man. What's the price of Bitcoin going to be in the next 90 days, you know, fortune telling fortune telling I the challenge with questions like that is they take time to dig into those. Well, I appreciate that for sure. I think we all have wisdom and knowledge to share. And part of the, what I like about your format, Tom, is that you focus it down to some quick bits, help someone out and move on.
And so, I like that. I wouldn't, I wouldn't ask anything else in this format. I think you did a great job. Perfect.
Tom Bailey: We'll take that well on that note then Tom, thank you so much again for your time today and for sharing such great value with our audience.