Going Long Podcast_SOLO Episode 444_Billy Keels

Wed, Aug 07, 2024 6:01PM • 15:12

SUMMARY KEYWORDS

advisor, type, investment, invest, efficiently, questions, wanted, typically, program, making, uncomfortable, goal, side hustle, ideas, clients, realized, puts, pick, foremost, results

‍

00:00

Today's conversation is sponsored by the Billy keels advisory program. If you want to learn more about how to make your nine to five optional, just go to Billy keels.com forward slash advising. Once again, that's Billy keels.com. Forward slash advising,

‍

00:13

how to efficiently pick the right advisor for you. This could be one of the most frequently asked questions that I get, especially when I have discovery calls,

‍

00:26

it's really a matter of trying to figure out how so what is the process that I can share with you today

‍

00:34

so that you understand how to efficiently, pick the right advisor for you. And when I say efficiently, it's really because I want you to be able to get to a point where you can decide for yourself quickly and efficiently

‍

00:48

what is the right type of advisor situation for you. And I want to take you through some of the thought process, because this is one of the things that happened to me when I decided that I needed to, or wanted to, not needed to, but I wanted to pay for a very high ticket, what I perceived to be very high ticket coaching program, almost $100,000

‍

01:07

for one year. And yours doesn't have to be that way, but there's a very particular process that you are going to go through, and I want to help you do it efficiently so that you can get to you the result and make your informed decision faster than I did, because it took me a little bit longer. It took me a little bit longer to do that, and I want you to be able to make that decision more efficiently,

‍

01:31

which means that you're making it based on the best decision, the best information that you have at the time, and being able to do it in a manner that is fast. So

‍

01:40

when I think about kind of what was going on in my life at the time, and this is why I want to share this with you, I was successfully into the side hustle, and I think I've talked to you about that before, and as I was efficiently or effectively into my side hustle, it was working really well.

‍

01:58

I talked to you about that in the past, um, especially like, talk to you about how you can easily identify your profitable side hustle. I talked about that in episode 439, but anyway, let me come back. So the

‍

02:11

the successful side hustle was going on making money, a lot of money at work, more money than I ever thought I would, right, especially when you get these big, massive bonus checks, you're like, oh my gosh, it's a bit it was a bit overwhelming and positive at the same time. But at this point in time, I knew that it was a it was really time for me to once I started realizing, like, I can make this into a a real profitable business, one that would allow me to, more importantly,

‍

02:40

provide for my family and give me more time and then be able to serve clients in the way that I wanted to, which is going to give the highest return on energy and return on sleep. Ros is one of those things I love talking about. But I knew that I was ready to leave corporate, and at the same time, wanted to be able to do it safely. I wanted to be able to do it safely. At the time, I said, I don't want to make any mistakes, because that's the recovering that's the recovering perfectionist in me, and that is exactly what I knew that I wanted to do as I as I went along, like I'm going back on this and just sharing the process with with you. But one of the things once I was crystal clear on those two different kind of ideas, or those those things that I wanted to be able to get out of them, I also realized that I wanted to

‍

03:24

talk to people to figure out what was the best way that I could go about helping, getting someone to help me to not just continue to plot along, but to be able to pick up the pace. Right? And this is something that I talked about in episode 443, when it was a matter of saying, Okay, do I do you want to go to a destination by yourself? You want to travel there by yourself, or do you want to travel alone or by or with someone else? Episode 443, if you want to go deeper into that. But once I started realizing that I wanted to pick up the pace. I wanted to be able to get to my destination faster. I knew that I needed a travel companion. I just didn't know what kind of travel companion. So I want to use today to talk about how you can efficiently pick because there's a number of different ways that you can look at and I think the first step that you you you want to do is really understand what is the best type of advisor for you. Is it? Is it a small group? Like, frequently, there are cohorts, and there's things that you want to think about, like, there are a number of people that are going through in your learning based on a curriculum. So it's kind of a pre destined kind of curriculum, the same way, kind of like being at university or college, says, Hey, listen, this is going to be the this is the syllabus for the semester. It's very similar with small groups or cohorts. You have different types of communities, so it's maybe you're just in with a whole bunch of other people that are the same for as you are typically going to find that this is a lot lower price point. And also it's one of these things where years a lot more.

‍

05:00

A exchange of ideas, and really the community keeps it going. You may decide that you want to look at something like a mastermind. A mastermind is really a small collective group of people that come together, that talk about topics. Typically, maybe someone puts forth a an agenda item, and then everyone that comes through typically has the same level of experience, and you're sharing ideas with one another, and the ideas to grow. And then then there are also what I would consider very high touch, high value one on one experiences. And so you could there's any of these in the high the high one on one experiences are, the good thing about them is that it is going to be someone who's typically gone down the path that you want to go down first and foremost that's really, really important. And that person should not be far, far away, like they've done it 40 years ago, because if they're done it 40 years ago and you want to do something today, is probably going to be a big disconnect, even if they've been doing it their whole lives. That person got that advisor, that coach, should be there to help you understand your context, understand your specific questions, help you get to your specific goals, and it's much more focused on you. So if you like to be able to get responses quickly with the context for you you want, you want to know that your advisor understands you, your context, your background, your family, these types of things. The one on one is also something. And keep in mind, when you're making a one on one, there's a focus completely on you, and so that investment is typically much higher. So these are just some of the things that you want to think about. First, what type of of interaction Do you want to have? And then, after you do that, then it's a matter of then sitting down, like most things, sitting down and putting together a plan, asking yourself questions, first and foremost, like, what is it that you want to achieve?

‍

06:51

What is the goal I am? Do you want to move faster? Do you want to get to a certain number of doors? Do you want to get your business up and running? Do you want to have a feeling of more confidence, because you don't have a particular skill set, and you want to be able to feel more confident in the skill set.

‍

07:08

Also critical. How quickly do you want to have results? Is this something that you want to get started now and you want to get the first results, maybe starting at a year from now? Or do you want to start getting very first results in the next 30 days, because that will also determine how much dedication time, effort that you, as well as your advisor, will need to be giving to you specifically or the community or the small group or the cohort that I talked to you about before. Something else also that you want to consider is what how much money do you have available today to be able to invest in yourself? And when I say money available meaning that you already, you have your basic needs covered, that you are already making investments. Maybe you're stacking your your assets and you're investing in other things. But you know, typically, someone who's gonna you know, are you in a situation where you're got $50,000 in the bank? You've got $200,000 in the bank that are not allocated or not have have no home, have no destination, if that's the case, when that money is available to invest in someone like yourself,

‍

08:10

when you're looking at your advisor, what is the advisor's track record? Have they done what you've already wanted to do? Can they demonstrate that to you? Do they have other people that you can talk to that can, can really say, Yeah, you know what this person has helped me do, or moving towards this particular goal? Are you someone who really puts a big emphasis on privacy? That you want the things that you're talking about? You want to make sure that your advisor doesn't share them with anybody else, or maybe they don't even share your profile publicly. I have a number of clients that are that are this way. They they really have a big, big thing about privacy. They want to work with someone in a high touch way. But because they are in high profile roles or high profile types of clients, they just prefer not to have anybody know that they are working with an advisor. Maybe that's your case, and also, too, is, or is it somebody that's just the opposite they want you to have contact with other people? Do they want to be a part of an advisory role? But then also have a access to your other clients? And maybe that's a part of your community aspect. Who knows? But these are some of the questions that you want to ask once you decide what type of program that you want to be a part of or what type of advisor you want to have. And then lastly, really comes down to the moment of truth, which is asking yourself the question, okay, well, now you've picked the type of program, you've asked the types of questions that you need. You have to now decide,

‍

09:33

are you worth the investment that you're going to make?

‍

09:37

It's a really basic question, but the question is one that you have to answer and also be confident in the idea that you want to put forward. Is it starting an online business? Is it making your brick and mortar business increase the number of sales that it has, or making it much more efficient? Or are you starting a side hustle? Are you want to increase your real estate assets? That's one of the things that I started.

‍

10:00

It, or do you want to start your own type of business? Do you have a service based business that that you want to to be able to start,

‍

10:07

and also ask yourself the question, what if you don't achieve the goal? Now this happened to me, like, I signed up for a very high touch, high value program, almost six figures, and I know that I've talked about that before and but I

‍

10:20

didn't even get to the destination. Like I didn't get there. I didn't achieve what we were set out to achieve in the coaching program, like I signed up for a one year coaching program. We did not achieve that goal. I did not achieve that goal. And I think it's something that you need to ask yourself, because that's a possibility, you may not achieve the goal that you set out to achieve, even though it's a one on one, high value, high high touch program

‍

10:42

and be ready for that. And you know, the one of the things that I will say is that whenever you're making an investment in whatever type of advisory program or coaching program or group program, the one thing that I will make I want you to really understand is, if it doesn't cause you some uneasiness, it's

‍

11:02

it's not going to be worth it, not even probably it's not going to be worth it. I can tell you, when I made that investment, almost six figures, it scared me. I was uncomfortable. I didn't want to do it, and there was just this, like my body. It was not good inside, because I wasn't familiar with the feeling. But I can tell you what, having that feeling, it made me prepared for every single interaction that I had. I came to my sessions ready with questions, I got the responses that I needed. And it's almost the thing that I can say is it's kind of like going to the gym, if you if you go to the gym, and you know that you can pick up weights that are like 25 or 50 pounds. 25 let's say 30 pounds, you can like those curl bills.

‍

11:43

If you go to the gym every day and you're picking up two pounds versus 30 pounds, like that's the same kind of effect. So when you invest in yourself, whatever type of program it is, whether it's high value, one on one or it's a it's a community. If what you're investing doesn't make you feel uncomfortable, don't do it, because it's you're not going to get the value out of it. I can tell you that right now, because as soon as things get a little bit uncomfortable, the last thing you're going to do is go to a place where you're not even getting any kind of like discomfort. So if you're starting to feel uncomfortable about the investment that you have to make, it's probably it is something that you need to continue to look at, because that's where you're taking you outside of your comfort zone, and that's and that's where the growth happens. So you know, with that, as I think about it, like I said, just sharing with you, like I invested almost six figures, didn't get the goal, but at the end of the day, when you're investing and you're making the decision to select an advisor, to select a program you want to and this one of the things that I realized later was

‍

12:45

it helped me have gone through this process, going through the process that I went through, it helped me to increase the criteria that I have for selecting advisors at any point in time. Like I realized that for myself, I know that I am a very much a one on one type of client, I've done even smaller group programs, and I realized, like, I just would rather pay an expert or their advice, their opinion and their time, because I'm going to get the greatest return on that. Because even with one simple idea, putting that idea into practice as quickly as possible is one of the things that is really helps you to get your return on investment. It's one of the things that I recognize. And when you go through these types of processes, you start to realize that it helps you to be able to make even better decisions based on imperfect information, because it's one of the things that that I also went through. So just to recap, how to efficiently pick the right advisor and or program for you. First and foremost, what is the type of environment that you want? You want, small group, cohort, mastermind, one on one, high value, high touch. Afterwards, go through asking the questions, how quickly do you want results? What are the time frames that you want those results to happen? Do you have the capital available? And then from there, recognize the investment you're making. It in yourself, you want to also invest in a way that makes you feel uncomfortable, because that's where you're going to get the biggest and best results. So with that, I want to leave you there to help you understand how to efficiently pick the right advisor for you. If you have any questions, you know where to find me. Also, I would say, if you have other friends, family members that are going through this type of thought process, share this episode with them. Talk to them about it, if you want. You can even reach out to me. But while you are thinking about today's conversation or episode, I'm going to be here preparing for the next

‍

14:35

episode. So until then, I want you to go out and make it a great day. Thank you very, very much. Appreciate it.

‍

14:43

Today's

‍

14:45

conversation was sponsored by the Billy keels advisory program. If you're looking to make your nine to five optional and need some help, just go to Billy keels.com. Forward slash advising. Once again, that's Billy keels.com. Forward slash advising. Oh.

‍