The Money Podcast

Often people don’t know all the numbers for their business, they don’t know what different lead sources they have, the quality of those leads and how much their acquisition costs are? There is one metric however that all businesses should be focused on, their Lifetime Client Value. Rob, in the latest episode of The Money Podcast talks through how you can work this out for your business and why it’s so important to develop your business and grow profits.   Key Takeaways LCV: Lifetime Client Value - This is the value to you, in total, per client for the lifetime of that client. It’s the most important metric in any business. If you don’t know this, then you have no idea whether you should be finding new clients, creating new products for your existing clients, or selling the same products more to the,.   If you know this then you can loss-lead at the front. I often do training courses, and events that are cheaper at first, but people are then able to buy more expensive products. This works with serviced accommodation where you can sell back to the same clients. What can you afford to pay to acquire a client, is a really important number to work out.   A new customer is likely to be 4x as expensive as old customers. Once a customer has paid for your products then they have overcome the biggest friction point so it gets easier after that. You already have the trust of those people, and they are being bombarded with marketing from everyone else, so use that advantage.   LCV is: Total Sales/Total unique clients. You want to measure this every 6-12 months. You could rest from getting new customers, and focus on your current customers for a time period, which could dramatically your profit and reduce your cost.   As your LCV goes up, you can then reinvest that money in the front end of marketing, so you are gaining more customers. Variable costs like marketing you want to be testing and investing all the time. It’s wise to have 20% of your marketing budget which you can use to test and willing to lose.   MAC - Maximum Acquisition Cost - This should be about 50% of your net profits. Not all client sources are the same. You could have a Groupon client and then you could have generic clients from your website who’ve done a lot of research. You might find that the people who come through your website, could be spending a lot more on your products, but making very little money on the Groupon deals. So it’s important to track where you leads come from.   If you grow fast then your LCV could go down because everything is chaos. If you grow fast then sometimes the things that make LCV increase with like good customer service, etc aren’t there. So it’s a process of growing and contracting your business to grow your LCV.   Referrals. The happiest clients are the ones who are going to give you the best referrals. Increasing your LCV means that you have clients who invested heavily in your business which can lead to more and better quality referrals.   Best Moments ‘If you no this then you can loss-lead at the front.’ ‘Sometimes things are harder than you think, but sometimes they are easier.’ ‘LCV is the most important metric for every business.’ ‘What can you afford to pay to gain that client.?’ ‘You need a staircase of products, once your clients have come on board.’ ‘80% of our products you won’t see if you haven’t completed a certain level of training.’ ‘A new customer is likely to be 4x as expensive as old customers.’ ‘AOV - Is the average value that your client purchases.’ ‘It’s wise to have 20% of your marketing budget which you can use to test and willing to lose.’ ‘Unless you test you don’t know.’ ‘MAC - Maximum Acquisition Cost - This should be about 50% of your net profits.’ ‘The happiest clients are the ones who are going to give you the best referrals’   VALUABLE RESOURCES   Business Breakthrough Summit Multiple Stream of Property Income   ABOUT THE HOST Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage. “If you don't risk anything, you risk everything.”   CONTACT METHOD Facebook: https://www.facebook.com/robmooreprogressive/ LinkedIn: https://uk.linkedin.com/in/robmoore1979

Why you should be asking for referrals today?  All business get referrals, but when do you actively ask for them? Most rely on word of mouth, or their clients initiative to refer others to their business. In the latest episode of Money, Rob talks through why we should all be asking for referrals from our clients and customers. In a simple ttwo-step solution you’ll hear how you can increase your sales by referrals. Don’t wait for others to refer you, take action today to get more sales through referrals.     Key Takeaways  Do you go to your followers and ask for referrals? I recently bought a record deck that is worth around £20,000 but I got a really good deal at around £9,000. I had wanted this deck for a while so asked around to some friends who are also into Hi-Fi. It turns out that a friend of a friend of a friend new how to get one after a friend had tragically recently died and had left the Hi-Fi. I wouldn’t have been able to buy this Hi-Fi if I a hadn’t asked. What might look like serendipity on the outside all came about because I asked.   I’ve come up with a two-step process for asking for referrals:  Reach out to your customers, clients, leads and followers. Ask them for some feedback on your services. What should we stop? Start? And Change? As well what you are good at. Ten give them a gift for their feedback, a consultation call, or a free gift of some kind.   Two or three weeks later publish the results. State what the feedback was and how you are addressing it. Then give them a special offer for a new product or ask them to refer your business.   Imagine if you did a personal reach out. This process gives you feedback and then hopefully you are gaining 1-3 times more business in the same year. In the 60 or so marketing plans that I’ve read recently for a marketing mastermind not even five of them are not doing this. People get natural referrals, buy you should be asking for them as well. Think about what profit you make on each product and how much of that you would give away to gain a new customer. Then give that number away in terms of cash, or discount in exchange for a referral from that customer.     Business are often not strategically building a referral system. In the first of these examples, you are you are directly making a pitch to your existing customers who are easier to sell to by the way. The second you are asking for a referral. Most people are getting their business through word of mouth which is accidental. Start gaining business through strategic referrals.     This year we are holding a party for our most loyal clients. We asked our team for the top fifty clients. I was shocked at how much they had paid over the years getting close to 40K. We decided then to celebrate this, and have a celebration with champagne and a BBQ at my house. We’re not going to  ask them for referrals but I don’t want them for a referral. I just want to show that we care, and that they feel special.     Key things to remember about referrals 1) Ask For Referrals 2) Incentivise the action  3) Track it well  4) Make it personal for them. Say thank you.      Best Moments  ‘2 step solution to be successful at referrals.’  ‘Reach out and show gratitude.’  ‘People sometimes just love to be made appreciated.’  ‘Move from accidental referrals to strategic referrals.’  ‘Track the average order value of your client, and the average profit margin for this.’  ‘If you ask more, you get more.’  ‘The world is a mirror of you.’  ‘Some people just want to feel special.’  ‘Imagine if you did a personal reach out’  ‘How much of your profit margin would you give away to get a new client.’  ‘Incentivise and care about those who give you referrals.’  ‘Sell new products to your existing clients, they already trust you.’    VALUABLE RESOURCES  https://www.amazon.co.uk/Money-Know-Learn-money-transform/dp/1473641322    ABOUT THE HOST  Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.  “If you don't risk anything, you risk everything.”   CONTACT METHOD  Facebook LinkedIn  

Money makes you a happier and better person, don’t judge or stereotype the rich simply learn how to be successful and remain hungry and humble. In this episode of The Money Podcast, Rob Moore discusses the traits of billionaires and how you can put them into practice in your own life and business. Beware you may dislike some of these traits... KEY TAKEAWAYS You cannot judge or stereotype the rich. There is no one type of greedy evil bastard billionaire and the fact is every human being has every trait. Stop telling yourself that the rich person is making you feel really shit about yourself because you’re skint. You can be more so stop being the victim and making excuses. The reality of rich people, billionaires and millionaires, is that they are human beings who have their own individual traits, some are great and some are traits you don't admire. Some of the traits you could model and own because you admire them. It might be a vision, it might be the ability to take rejection, it might be the consistent pursuit of a goal. It might be that they know how to spot a business opportunity in the early infant stages that go wild and grow with vast scale, they know how to scale a business, they know how to deal with big legal cases and reputational issues. These are all skills that they have the skills that they've developed in the pursuit of making millions or billions. Every human being can be greedy and a billionaire can be greedy and a skint person can be greedy also. You cannot judge millionaires and billionaires and put them in a box or a stereotype, all you can do is understand that they know how to make money. Traits of billionaires. A vision that is vast and has a huge ability to scale. People who have global and national vision usually become very wealthy because there are more people to reach. The second thing is you need to have a business model that is scalable. The reality is a billionaire has traits that you'd like to model to self actualize and every billionaire also has traits that you don't like or aspire to be and you don't want to be like, so don't judge the person, judge the traits because every person has traits that you admire and every personality traits that you want to disown, but also challenge yourself to be open-minded to learn from people you don't necessarily connect with or relate to. Stop judging yourself and comparing yourself to the successful people or billionaires because that will lower your self-esteem and you will never achieve your success. Are you prepared to get out of your own way and learn what it takes to be successful, to be wealthy? BEST MOMENTS “You cannot judge or stereotype the rich.” “Money makes you happy and a better person.” “Positioning yourself as a student is the greatest gift you can give yourself.” “ If you don't risk anything, you risk everything.” VALUABLE RESOURCES https://www.amazon.co.uk/Money-Know-Learn-money-transform/dp/1473641322 A book called How to be a billionaire by Martin Princeton. ABOUT THE HOST Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” and “The Money Podcast” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage. “If you don't risk anything, you risk everything” CONTACT METHOD Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979

Working on your business and not in your business is essential for growth so understanding how to hire the right staff and create the right systems is vital for your business's success. In today’s episode, Rob shares with you the four staffing strategies to implement in your business, ten important things to know about staffing and hiring and the top five sources for recruitment. If you want to become a better leader, founder, entreprneur and business owner you need to empower your employees, inspire them and motivate them to succeed. If you’re looking to build an empire and create a legacy you need to grow your business and work towards the big picture you’ve set yourself, and if you want all of this tune in today to hear how. KEY TAKEAWAYS Four staffing strategies to implement in your business. Don’t hire until everything breaks. Keep a lean overhead until your stress levels reach overwhelm. It is then when you should begin staffing-up. Hire in advance (3-6months) this means you can onboard them, train them and systemise them so they’re up to speed for when you actually need them. This is more proactive. Always be recruiting and rolling out ads on LinkedIn and recruitment websites. This will give you a contingency in your business for when staff leave or go on maternity leave. Lots of modern business outsource and use VA’s as their workforce. This can keep the costs down and the business lean. However, you might not have that buzz around the office and be able to train/impact on your staff if they’re outside or external to the business. Staffing and whether you choose to insource or outsource will depend on your business and your business values. Ten things to know about staffing and systems There are three stages to consider when working on your business.  Your own tasks, business systems and processes and staffing and hiring. It can be chaotic as an entreprneur as you’ll find yourself doing all three. The solution, to focus on leveraging and managing people to inspire and motivate them so that they will take your company to the next level. If you want to grow you have to let go. You’ve got to let your employees manage projects and allow them to thrive, whilst you won’t want to let go of the project yourself you can set them KPI’s to keep them on track. To de-risk staffing, you can manage your employees with minimum standards or performance (MSOP) ideally linked to revenue targets. In the first 1-2 years of employment, you have a lot of rights when it comes to employing staff. Your employees are intrapreneurs and not entrepreneurs so they’re not the same as you. To get clarity when hiring make sure you have clear job descriptions. This includes the company values, vision, job, role, KRA’s (Key results areas) and IGT (income generating tasks) The structure, operations, function and purpose of your business and staff roles needs to be put into an operations manual and check-list. This will make your business more dynamic, scalable and saleable. Create a good onboarding time to allow your new staff to learn the business the systems and the processes. Judge them on effort and not results and let them learn the culture of your business. There are three things proven to be more important than salary for your employees. Progression, Recognition and Autonomy (PRA) make sure you address all of these with every member of each team. An entrepreneur and a manager are different they have different pros and cons. An entreprneur creates the vision and the big picture and the manager is more organised and methodical so work out which one you are. Balance excitement with realism and you’ll have a great balance for your team. Should you hire on aptitude or attitude? Their skill-set or their mindset? You should aim for a balance of both when hiring for your business. Culture and values are important to hiring, this is the personality of your business and what makes you special. This should be prevalent in your recruiting and communicated to your staff. Top five sources for recruitment Local recruitment agencies Specific agencies (IT agencies, Sales agencies etc) LinkedIn Referrals from staff (commission based) Asking on social media (Facebook) BEST MOMENTS “Become a better leader, founder and entrepreneur and inspire people to work for you. There’s great leverage in working with people you’ll help them and you’ll help yourself.” “For most entrepreneurs, they will get busy and make money before hiring people. They will usually hire reactively.” “Always be recruiting” “People are your greatest asset” “Learn how to work on your job, not in your job.” “Every entreprneur and every business goes through a growth cycle. Every business that has one-thousand employees started with one.” “Every salesperson should bring in three times their salary” “The three most important hires are a marketing person, assistant admin, sales and an operations manager”   VALUABLE RESOURCES Rob Moore’s six month model for building a scalable and sustainable business. Module 1: Start-up Module 2: Sales Module 3: Systems & staffing Module: Survival Module 4: Scaling Module: Sustainability Rob More - Money Onlinejobs.ph Upwork.com 99designs.com ABOUT THE HOST Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” and “The Money Podcast” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage. “If you don't risk anything, you risk everything” CONTACT METHOD Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn - https://uk.linkedin.com/in/robmoore1979

If you want to learn about the common money hang-ups and how to cure them? this episode is for you. Catch Rob Moore as he discusses nine of the most common hang-ups around money and shares with you the way you can solve them. KEY TAKEAWAYS   Common money hang-ups.   Number one; staying in a relationship, partnership or dependency because you fear not having enough money. Many people have become comfortable relying on or trapped in a partnership or relationship where they are not the main money earner. Over time, they build the belief that they can't earn their own money without the partner and they get themselves stuck. Point number two; never spending it through fear of not having it or losing it. The world will give more to a giver and money needs to flow to function fully. Sometimes you have to invest and speculate to accumulate, sometimes you have to spend a little more to attract even more. Number three; accepting low money standards. If we have low self-worth, we may accept low money standards, such as taking work that is beneath us, a salary that doesn't match our skills and experience or doing free or cheap work for other people or companies that makes no profit or worse a loss. Number four; money related extreme emotions and addictions. We tend to spend money on things we value the most and our values are often areas where we have voids in our life that we are trying to fill. Number five, association with money you inherit, borrowed or get gifted. If you come into money you didn't earn, once you have the money, you don't have the education and experience gained earning the money. People can feel a great sense of fear and responsibility managing money borrowed, gifted or inherited. Solution. The solution to these two opposing extremes associated with money you didn't earn is to act and behave as you did earn it, treat it with the utmost respect, take responsibility to learn and manage and master money. Number six; spending on others to buy their love and attention or to heal them or yourself. Many people desire to be liked or loved, we crave the attention we need the healing of ourselves through the love of others. Solution; You do other things to get people's love like acts of kindness, acts of help and support and non-material things which may have even deeper value. Point seven; if I have more others will have less. People say that the rich take from the poor and those that have vast amounts of money are depriving others of it and many people don't want to feel like they're taking from others and so unconsciously push money away from them. That’s not the case because money tends to flow from those who value at least to those who value it most. The rich get richer, despite getting taxed and generating commerce and economy the most, the reality always is that money will find its way back to those who know how to manage it, master it, create and produce and offer value in exchange for it. Number eight; not good receivers, so don't receive more. Many people are not good receivers of money. They have fierce independence and feel like they have to be in control of everything themselves and never receive any help and they may see receiving as a weakness or they may have built around receiving money from others in the form of gifts, loans, salaries and fees. Number nine; people give it all away through guilt, shame and lack of deserving. This can be in the form of charity, donations, overspending on others, lack of budgeting and emotional or addictive spending. BEST MOMENTS “If you know a partnership or relationship is wrong, do not trap yourself in it forever because you feel you have no other choice.” “Know that money is an abundant, almost infinite resource and know that you have unlimited earning potential if you know your own worth and learn to manage and master money.” “The world will give more to a giver.” “Sometimes you have to invest and speculate to accumulate, sometimes you have to spend a little more to attract even more.” “You have to give to receive.” “People often use spending to alleviate pain, whether that's retail therapy to calm or suppress emotions, or for the thrill and exhilarating experiences.” Money tends to fuel and exaggerate things and it will make you more of who you already are.” “Money tends to flow from those who value at least to those who value it most.” VALUABLE RESOURCES The Money Podcast with Rob Moore https://itunes.apple.com/gb/podcast/the-money-podcast/id1358672174?mt=2 https://www.stitcher.com/podcast/progressiveproperty/the-money-podcast https://robmoore.com/the-money-podcast/ ABOUT THE HOST Rob Moore is the author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor and property educator. Author of global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur” “If you don't risk anything, you risk everything” CONTACT METHOD Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979

Why settle for aiming to be a millionaire if you could just go for it and set your goal to be a billionaire? In this episode of the Money Podcast, Rob chats with Martin Fridson, a CFA and the author of “How To Be A Billionaire.” Martin’s book has been one of the top non-fiction bestsellers and has helped many people on reaching – not just getting near – their goals. Discover today how a billionaire’s mindset and personality differ from a millionaire. It’s true also that along the way, there will always be challenges, detours, and people who would definitely put your guard down. Learn how the classic and modern billionaires dealt with these so you’ll have the basis on how to face such and stay focused on becoming a billionaire. Aside from these, Rob and Martin also talk about Martin’s career and his book. When you walk the road to being a billionaire, do you wish to be greedy and capitalistic? Or do you want to be generous and philanthropic? Listen in, so you know how to balance your life, how to give back, and how to live your billionaire life to the fullest. KEY TAKEAWAYS What does a billionaire know that a millionaire doesn't yet know? "Really understanding that it is possible to achieve, that’s the most significant difference." You have to be extremely focused if you want to be a billionaire. "What comes first is the focus in business building and enterprise." Greedy and capitalist vs generous and philanthropic. Many billionaires had some issue with their dealings in their business, but once they have turned to philanthropy, they put their eyes on socially-relevant projects. For example, John D Rockefeller helped in a significant project of eradicating the hookworm disease. Three things you need to ready yourself with when you want to become a billionaire: Scale, Timing, and the ability to take rejection. Scale: Deciding on whether to make it to a national or international scale is very essential. To get into a billionaire status, you have to reach certain boundaries. Timing: The rapid growth right now is your cue to start moving to become a billionaire. Know the trends, so you know when's the right time to scale up or introduce new products & services. The personality of a billionaire: You have to have a thick skin to succeed. The downsides and upsides observed by Martin on starting billionaires: Example of a downside: People they interact with may think that they got the shorter end of a deal. Most of the time, this sparks the altercation between the parties – i.e. the individual getting sued. Upsides: Billionaires give essential contributions to the community. For example, in the restaurant industry, companies are starting to listen to the consumer demand of being provided with healthy options. A lot of companies also are at the forefront of the revolution in technology. BEST MOMENTS "There's this line of huge vision and craziness." “There are unquestionably dislocations when innovation comes along, when there's disruption, ultimately winds up better. it's important not to be cavalier about this to understand the effects of that dislocation towards solutions for those that wind up on the wrong end." "You have to have the incentive of profit to take the risk and do all the work, do all the regulation, construction and competition... and that's the reward." “I think that in many cases, they[billionaires] really feel that it’s important for everyone to have the opportunity they have. They appreciate what capitalism has made possible for them. They know that without the education they received, they wouldn’t have been able to exploit those opportunities. I think they feel a great sense of injustice that we haven’t reached the stage where everyone has the educational opportunity.” VALUABLE RESOURCES How to be a Billionaire: Proven Strategies from the Titans of Wealth by Martin Fridson The Money Podcast with Rob Moore |iTunes |Stitcher|Omny ABOUT THE GUEST Martin Fridson is a Certified Financial Adviser, a financial writer and the author of “How To Be A Billionaire”. According to the New York Times, he is “one of Wall Street’s most thoughtful and perceptive analysts”. In 2002, Martin was named the Financial Executive of the Year by the Financial Management Association International. He is also the youngest person ever inducted into the Fixed Income Analysts Society Hall of Fame. Martin Fridson Official Website Email him at ABOUT THE HOST Rob Moore is the author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor and property educator. Author of global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur” “If you don't risk anything, you risk everything” CONTACT METHOD Rob’s Facebook Rob’s LinkedIn

The customer isn’t always right and offering discounts come with disadvantages in both the short and long-term perception or your business. In today’s episode, Rob talks about pricing your product or service accordingly and the effects it can have on your business when you price correctly for your marketplace. Tune in today to hear why exchanging products and services at a fair price will have a positive effect on your business. KEY TAKEAWAYS The potential cost of giving big discounts to your customers or even giving some things away for free is that when you give too much away or too bigger discounts or your prices are too low, you can often attract the wrong kind of clients. Don’t discount and have really low prices to attract the Kindle kind of buyers into your business who won't find value in your product but will just consume your overhead for nothing. It's a sweet kind of business because there will be some cash flow but I would not advise anyone to give big discounts because there will be no much of a profit margin. If you sell products and services, you want those customers to go to the high volume, low margin providers. What you should do. Think about the positioning of who you're trying to attract and price accordingly, up your prices probably. If you’re a coach or consultant and you're giving a lot of free advice, and you're helping a lot of people and you're feeling a bit resentful, you've got to put your prices up, you've got to put a price wall in the way to test the seriousness of your audience. When you sell your products or even books at a discounted price, people are expecting when they read that book to be made a millionaire overnight or for it to be amazing or perfect and as soon as the slightest thing isn't right for them, they're going to go and leave a massive one-star review about your product and complain about it. They're the probably the kind of people that are cheating, trying to get everything for free, trying to screw over providers, they just want to go and bitch and moan about everything. You should even up your prices by 20%, and it's not going to affect your business in any way, you're going to attract better clients who have more money, who are the right type in the right niche for you, you're going to have higher margin, therefore, you've got more money to reinvest into better products and services. You should never give discounts to products that a fee is attached to because it would not be fair for people who had already bought it at the original price before the discount, some of those customers that had bought it that way may come back to you with a lot of complaints and you may end up losing a lot of money. BEST MOMENTS “I don't want to save everyone, I don't want to help everyone and I only want to help people who want to help themselves.” “Pricing in business is a perception.” “When they pay for something at a fair price, they see the value because the value is a perception as much as it is a reality.” “Stuff that should have a big fee attached to it should have a big fee attached to it and it shouldn't ever be discounted.” “I don't think we're in an age where the customer is always right.” VALUABLE RESOURCES https://www.youtube.com/channel/UCLtKal0qTf3klDUr7JS_L9Q ABOUT THE HOST Rob Moore is the author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur” “If you don't risk anything, you risk everything” CONTACT METHOD Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn - https://uk.linkedin.com/in/robmoore1979 YouTube - https://www.youtube.com/channel/UCLtKal0qTf3klDUr7JS_L9Q

It’s high time you stop sulking in that corner about you being poor. Let’s admit it, we all have desired more wealth than what we have right now. In this episode of The Money Podcast, we take the first step – acknowledging the wrong things we do. Rob prepared the list of Top 10 reasons why you are poor or skint. It takes guts to admit to oneself that you have done things (and are still doing things) that let you live in this hell hole. Discover today how you can flip things around and earn more money when you tune in. KEY TAKEAWAYS What’s the difference between being skint and being poor? Skint – People who were raised in an environment where there are available resources like books and the internet to learn about money. Poor – People who don’t have the means to get their hand on resources. Top 10 Reasons You’re Skint or Poor You just don’t have the opportunity. We’re talking about people who live in the least developed countries who also have no access to clean water and our economically vulnerable. You don’t have the right financial education. It’s not your fault. Financial education isn’t really taught in schools. Money isn’t really important to you. You spend money on things that make you feel good but doesn’t really look into earning, saving, and investing more. You haven’ found the right business model. You might have a business model that doesn’t work or isn’t just perfect for you. You’re not prepared to take a risk. You have to believe in yourself that you could do more and you’re worth it. Always go for something that will benefit you more. You don’t embrace marketing. Learn about tactics that could bring you a lot of money. Sales put your products and services out there, and marketing is the inbound interest of people to your products and services. You spend more than you earn. Keep track of your expenses before it gets worse. Spend within your means. You don’t take responsibility. Stop blaming people for your own actions. Own up and take the necessary steps to get out of the sinkhole. You’re envious and jealous you’re not rich. Instead, be motivated and concentrate on how to increase your finances. Every wealthy person that Rob met has honored trait, built talents, and gain experience. You’re on the right path, you just didn’t do long enough. It takes patience and persistence to earn the target money you want. Reach that goal. BEST MOMENTS “You’ve got to take progressively more increased risks if you want to earn more money and get out of being skint and start making it.” “There’s a lot of things you can do and generate money, but virtually, the dam opener or the block on all of them is sales and marketing.” “If you spend more than you earn, you go backwards; if you earn more than you spend, you go forward.” “Even if other people are sabotaging you and your progress, you have to be responsible, otherwise you can’t control it.” VALUABLE RESOURCES https://www.amazon.co.uk/Money-Know-Learn-money-transform/dp/1473641322 ABOUT THE HOST Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage. “If you don't risk anything, you risk everything.” CONTACT METHOD Facebook: https://www.facebook.com/robmooreprogressive/ LinkedIn: https://uk.linkedin.com/in/robmoore1979

Sales are the lifeblood of any business, if you don't sell, you won’t make any money and if you hate selling, you can't run a business. In this episode, Rob dives into the art of sales and shares with you how you can dramatically increase sales, generate more leads and create a formula for wealth, in business and in life. KEY TAKEAWAYS Selling. Sales are the lifeblood of any business. You don't sell, you don't make any money. If you hate selling, you can't run a business.   Three ways to increase sales. Number one is to generate more leads. Generating more leads is not selling directly, it’s actually marketing. If you double the leads, you will be doing double the sales hence more money coming in your way. Marketing and generating leads can actually supersede sales, automate the selling but always monitor. The second way to dramatically increase sales is the better conversion of sales. The second way in terms of conversion is based on your selling ability. Are you good at selling? are your online assets such as your website, your checkout pages, your landing pages, your sales pages, your sales team or online engines and apps set up and optimised? All the areas of the conversion environment, your OPT in pages, your ability to sell when you're selling one too many, maybe as a public speaker, or on a webinar or doing podcasts or selling one to one in a consultative environment. Are you increasing your selling ability? The third way to increase sales is to improve your product your service your offer, the irresistible nature of your offer or the bespoke nature of your offer? Is it really what people want? Is it for modern times? Does it solve a problem? Does it make people's lives easier, faster or better? Have you revolutionized it, have you created a version two of it? Continually evolve and improve your product. Sales and marketing and how they interact. Marketing is getting people in the shop and sales are when they're in the shop selling them the products and services you have in the shop.   The formula for wealth. Wealth equals value plus fair exchange times leverage. Value is, if your product or service has high value, it should sell well. Fair exchange is, is there a good price which is a client deems to be good value, but not too cheap, it can actually not sell well if it has good value, if it’s over or underpriced. Leverage is how many customers, clients, followers, fans, how many referrals you're making, how much volume of sales you're doing, and what countries you are in.   Stages of selling. Stage one is to connect and that is to find the client, to get the attention that is to engage with them whether it's online or on the phone, it is an introduction. Stage two is the building of the rapport and forming that connection. That's the common ground. That's the rapport. That's, we're starting to like each other.’ We like the look of you, as a business person, or as a salesperson. Stage three is establishing the need. What’s the problem they have, what’s the pain they have, what’s the desire that they have, what do they want solving? Stage four is clarifying and restating that need. You confirm the need that they've said, the problem that they've got, the solution that they desire, and you restate it for clarity. Stage five then is to create the value. Create a product or solution tailored to your customers. Stage six then is to close. You've got to make the sales and you've got to ask for the money. Stage seven then is to deliver the product or service. Stage eight is asking for referrals.   BEST MOMENTS “Sales are the lifeblood of any business.” “You don't sell, you don't make any money.” “If you hate selling, you can't run a business.” “Marketing is getting people in the shop and sales are when they're in the shop selling them the products and services you have in the shop.” “If you don't like selling which a lot of people don't, then leverage or outsource it to someone else.” “The product sells itself, it doesn't, you've got to sell it but the better the product is, the easier it is to sell.” “Wealth equals value plus fair exchange times leverage.” “Objections are there to give you feedback to tell you that something is misaligned between you and the client and the offer and the need.” “If you don't risk anything, you risk everything.” VALUABLE RESOURCES https://www.amazon.co.uk/Money-Know-Learn-money-transform/dp/1473641322 ABOUT THE HOST Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage. “If you don't risk anything, you risk everything” CONTACT METHOD Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979

Welcome back to another episode of the Money podcast with your host Rob Moore. In this episode, Rob talks through the steps that you need to take to ride out the next recession. There is talk of a recession in the not too distant future, the property market that might crash and of course the uncertainty over Brexit. Rob gives you the single best way to ride out the next recession whenever it might happen. Key Takeaways Single Biggest Hedge Against a Recession is to have cash. When things are going well, people think that they will always go well. There is no fear. They might overspend, and reduce their investing criteria. Then they over-correct when things do go badly. Having cash to cover running costs whilst others are going out of business is essential. Prepare and build a war chest for the next recession. As soon as a recession ends begin preparing a war chest for the next one in maybe 10 or 12 years time. War chests are not just cash, it’s your access to finance, your network, your JV. It’s your access to cash. Every asset class has a different price cycle. Don’t judge an overall economy or recession as one, look at different assets. They all have different cycles. Watches, for example, are going up in price, but other things like the London property market are decreasing. Know each cycle so you know when to sell and when to buy. You Don’t Want To Get Greedy. Save half of your profits in assets or in a bank somewhere. This will be your war chest to ride out the next recession. Ride it out when everyone else is going bust. If you do have cash then you will be able to take advantage of a recession through your purchasing power. You can then buy assets at a cheaper price. Plan your burn rate, that if you had no sales in 12 months, how much money you need to save to cover those costs. Best Moments ‘Cash rides out all difficulty.’ ‘Observe the masses and do the opposite.’ ‘Stash half your profit to build up a war chest.’ ‘Control what you can.’ ABOUT THE HOST Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage. “If you don't risk anything, you risk everything” CONTACT METHOD Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn - https://uk.linkedin.com/in/robmoore1979