Podcast Summary
From personal transformation to recurring revenue: Focus on solving a personal problem and adapt to create recurring revenue for financial freedom
Certainty and guarantees are highly valued in society, but relying too heavily on them can limit our ability to make new decisions and achieve financial freedom. Vince DelMonte, a guest on The Empire Show, shared his journey from wanting to make $1,000,000 before the age of 30 to building a successful business around helping men build muscle. He started by focusing on his own internal goal of transforming his physique, but discovered the power of sales when he realized he could make more money by selling gym memberships and personal training sessions than as a trainer. Recurring revenue, as demonstrated by companies like Amazon Prime and Netflix, is a powerful tool for generating income without constant selling. It's important to remember that great businesses often start by solving a personal problem and then expanding to help others. In the end, it's the curiosity, determination, and adaptability that leads to success.
Creating value leads to opportunities: Strive to create value and stand out in your field to attract mentors and employers who see your potential and want to invest in your growth.
Creating value and standing out in your field can lead to opportunities and investments from mentors and employers. The speaker's experience of becoming the top salesperson at a gym and being recruited by successful mentors expanded his world and taught him valuable lessons about wealth creation and the importance of taking responsibility for one's own success. These mentors saw potential in him and wanted to equip him to be the best version of himself, even if it meant potential short-term loss. This early exposure to the abundance mindset helped shape the speaker's approach to personal and professional growth. Overall, the lesson is to keep striving to create value and stand out in your field, as it can lead to unexpected opportunities and investments from those who see your potential.
A mentor's belief and challenge led to personal and professional growth: Finding a mentor who recognizes your potential and pushes you out of your comfort zone can lead to significant personal and professional growth. Focus on becoming the best in your niche by being passionate, credible, and addressing a ravenous marketplace.
Having a mentor who believed in your potential and challenged you to exceed your own expectations can lead to significant personal and professional growth. The speaker shared a story about a mentor who recognized his numbers-driven nature and used it as an opportunity to push him out of his comfort zone. This mentor, despite being intimidating, became a supportive figure in the speaker's life and helped him discover the world of Internet marketing. Through this experience, the speaker learned that he could make significant income online and that there was a large market of skinny guys looking to build muscle. However, the mentor also warned him about the saturation of the market and advised him to focus on becoming the best in his niche by being passionate, credible, and addressing a ravenous marketplace. Ultimately, the speaker found success by offering a unique approach to muscle building through variable resistance training and focusing on building a personal brand based on his story and experiences.
Authentic storytelling builds strong brands: Embrace your unique strengths and story to build an authentic brand that resonates with your audience, leading to business success.
Being authentic and vulnerable in your brand storytelling can significantly impact your business success. Vince, in the discussion, shared how he discovered that people were resonating with his personal stories, rather than just the information he was providing. He built his brand around his identity, which was authentic to who he was. However, when he tried to be someone he wasn't, by unpacking science or comparing himself to others, his brand lost its DNA and hurt his business. Successful entrepreneurs, according to Vince, are marketers first and coaches second. Embracing this and leaning into your unique strengths and story can help your business thrive. Authenticity and vulnerability are essential in connecting with your audience and building a strong brand.
Positioning yourself as a solution provider: Authenticity and delivering value can lead to unexpected opportunities and growth. Understand your audience's unique challenges and position yourself as a solution provider to open up new opportunities.
Becoming an expert in your field and delivering authentic value can open up new opportunities for you. Vince's authenticity and success in fitness led him to be sought out for business advice, which he used to create a profitable side business. However, he realized that many personal trainers struggled to understand the marketing aspect of their businesses. By positioning himself as a marketer first and a coach second, Vince was able to help others believe in their ability to succeed, and in turn, they paid him to teach them. This demonstrates the importance of understanding the unique challenges of your audience and positioning yourself as a solution provider. Additionally, being authentic and delivering value can lead to unexpected opportunities and growth.
Realizing the Hope-Based Business: Focus on communicating the value and certainty of your product or service, rather than just focusing on the hope it brings.
During a coaching call with new program members, the speaker realized they were all selling hope rather than a specific product or service. He emphasized that they were all in the "hope-based business" and encouraged them to understand and communicate this to their clients. The speaker also shared his personal journey, from setting unrealistic goals to finding success in implementing recurring revenue models and focusing on selling certainty. He also mentioned the importance of understanding one's unique value proposition and avoiding distractions, using his own experience with creating a supplement as an example. Overall, the key takeaway is to clearly communicate the value and certainty that one's product or service provides, rather than just focusing on the hope it brings.
Repositioning a product for higher profits: Repositioning a product and focusing on customer needs can lead to higher sales and profits. Entrepreneurs should scale their business, shift focus from sales to service, and provide value to customers to build a successful brand.
Repositioning a product and setting a higher price point can create a unique selling proposition and attract more customers. The speaker, who created a high-end pre-workout supplement, initially marketed it as a distraction but later shifted its focus to all-day energy for entrepreneurs, labeling it as the world's most expensive pre-workout. This strategy led to significant sales, even though the product itself remained the same. Another key takeaway is the importance of scaling a business and shifting focus from sales to service when necessary. The speaker shared his experience of growing a coaching program and reaching a point where the system broke due to the large number of members. He had to focus on stabilizing the program and providing better service to help members win, rather than just making sales. Overall, these strategies can help entrepreneurs create profitable product lines and build successful businesses by providing value to their customers and focusing on their needs. Fully Loaded Supplements, with its high-quality, fully-dosed ingredients and scientifically effective dosages, is an excellent example of a product that delivers on its promises and appeals to entrepreneurs seeking an edge in their workouts or mental clarity. To learn more about Fully Loaded Supplements and their mastermind program, visit their website at fullyloadedsupplements.com. Start with a half scoop and experience the difference for yourself.
Embracing periods of financial struggle for growth: True confidence comes from character, consistency, and supportive people during tough financial times. Growth requires expanding emotionally, mentally, and physically, but can't be achieved while contracting.
Business growth often involves going through phases of financial struggle, or what the speaker calls "phases of broke." These periods of struggle can be temporary and ultimately lead to significant growth. However, they require trust, faith, and the ability to expand one's bandwidth emotionally, mentally, and physically. The speaker emphasizes that society often places too much emphasis on certainty and guarantees, but true confidence comes from developing character, consistency, and being around people who believe in you. Embracing the challenges and periods of struggle is essential for long-term success. It's important to remember that you can't expand and contract at the same time and that growth often means facing new battles and confronting new challenges.
Embrace challenges as opportunities for growth: Recognize that difficult situations are chances to learn, grow, and develop. Trust the process, be open to new experiences, and embrace vulnerability for authentic progress.
Growth and progress in life often come from challenging situations and adversity, much like how a grape must endure harsh conditions to produce the best wine. Instead of viewing these situations as burdens or punishments, it's essential to recognize that they are opportunities for growth and development. It's important to embrace where we are in life and trust the process, even when it feels uncomfortable or uncertain. This means being open to learning new skills, taking on new challenges, and surrounding ourselves with people who are smarter and more experienced than us. By leaning into our fears and discomfort, we can prepare ourselves for the next stage of growth and ultimately thrive. It's also crucial to remember that authentic growth and progress require vulnerability and honest self-reflection. So, the next time you face a challenging situation, try to shift your perspective and see it as an opportunity to plant the seeds for future growth rather than a battle to be won or lost.
Finding a mentor and putting in the hard work for growth: Be open to guidance, find good employees, and grind through challenges for personal and business growth.
In order to grow and improve in various aspects of life, including business, it's essential to be open to guidance and willing to put in the hard work. Vince Del Monte shared his experience of being helped by a mentor who encouraged him to think differently and become the architect of his business instead of just the laborer. He emphasized the importance of finding and keeping good employees, even if it's a challenge, and the need to grind through the hard work to see growth. Vince also mentioned that if things seem easy in areas like relationships or parenting, it might mean that not enough effort is being put in. Overall, the message is that growth and improvement require effort and dedication, but the rewards are worth it. To connect with Vince, listeners can check out his podcast or find him on Instagram.
