Hey, what's up everybody? I'm really excited about the podcast today. We're going to be covering the seven steps to business mastery with Justin Eli. Justin is the president of the Worth Group. I've known Justin for probably going on 20 years now and we're going to do an extended podcast and we're going to dive deep into the seven steps that you need to go through to really optimize the revenue and the success of your business. We're going to be going through mindset. We're going to be going through strategy, through marketing, sales, growth strategies, even wealth and money principles. You definitely don't want to miss this episode. Justin is an expert author. He's written a book. He's a really great guy, and you're going to get a lot of content today. So look forward to talking with you on the episode. Let's go ahead and get into it. Here we go. Okay, welcome back to The Daily Mastermind. We are here today with Justin Eli. Justin, welcome to The Mastermind. Hey, thanks, George. How you doing? Oh man, this is great. I've been looking forward to this for a while and as I mentioned before, Justin, who is the president of The Worth Group, we've come together, we've known each other for, man, how long has it been? Maybe 17 years, 20 years? A long time, man. A long time. We've come together and put together this seven step formula for business mastery, which I'm super excited to share today. We can't get into a ton of detail, but we're going to go real high level and cover some nuggets. But maybe give me just a real quick, how did this kind of come together and why did we develop the seven step formula? Give me your take on that for the audience here. Sure. Yeah. So as you know, George, I've owned a lot of businesses. uh we've worked with a lot of businesses as you know advisors mentors and uh and so forth and you know for me i'm a guy that likes systems and i know you do yeah for sure right and i and it just seems like you know every business that i've worked with every business that we've we've dealt with or you know individually it seems like there's certain things that always need to be in place certain things that need to happen in order for that business to be successful and oftentimes business owners aren't putting the whole package together whether it's you know whether it's and we'll get into this but whether it's you know their their their mindset and their strategy in the beginning of the business or whether it's you know how they're preparing to exit or what they're doing with their time and their money at the end of their business yeah and you know and everything else in between. Yeah, you know, and I think as I mentioned in the intro for this particular session that we did, I really think now having worked with companies, either our own companies or clients that have done over a billion dollars in sales, there's a lot of holes in the boat with a lot of businesses and they don't begin with the end in mind. But this is a pretty comprehensive, I mean, this seven step formula that I'm excited to share today and have you go through with us goes with everything from the mindset to wealth mastery and everything in between. So without any further ado, let's jump right into it. So what I want to do is we're going to go through this seven-step formula and it lines up pretty nicely because it's seven Ms, which is mindset mapping, marketing, monetizing, mastery, money. And we're going to go through all these steps right now, but let's let's go ahead and I'll kind of drive them through the steps and then you can kind of get into some detail and I know we don't have enough time to go into all the training because this is a full-on master class course I also know this is something you do with a lot of the business owners that you mentor right but let's give as much strategy and tactics as we can as well so let's start with mindset so the first step in this seven step formula is mindset this is developing your clarity, your focus, your discipline to really create your best life. So tell me, what does that involve? Like, what is it that step? Yeah. So mindset, obviously, you know, in order to, you know, move forward and make positive things happen, you've got to have your mind straight. And, you know, your outcome is controlled by your actions and your actions are controlled by your thoughts. And so, you know, when I'm mentoring someone or, you know, I'm working with someone, you know, the first thing that we want to do is we want to make sure that their head's on straight, right? That they have a good positive attitude. You know, I think we've all been in that position where we've got those negative thoughts come into our head. You know, can we do this? Can we succeed? You know, are we confident in ourselves? and you know just making sure that well first understanding that we all have those thoughts right yeah we're all going to deal with negativity you know whether it's from internally or externally from other people and so you know how do we you know substitute those negative thoughts put the positive back in yeah you know keep feeling good about ourselves have that confidence so it's confidence is huge because confidence for a lot of people is what holds them back and as you know you know a lot of the high achievers that we work with they have a very very confident mindset right and and I agree with you because I think I and I know when we get into the master class and things we're doing with this we cover everything from you know clearly your thoughts create your life but we talked about that belief cycle that you know your thoughts are gonna reflect your actions which are gonna create results and create things going we're also gonna be talking about you know what what you're doing to clarify your you know your overall disciplines and daily rituals and things that you do on a day-to-day but wouldn't you agree that really mindset is probably one of the most important things in business I mean that's without the mindset all the strategies really aren't gonna get done absolutely I mean you've got to believe in yourself you've got to believe in your business you've got to believe in your product or your service. And again, those negative thoughts are always going to creep in there. It's funny because so many people, they act as if, right? And they say they believe things, but I always find that if your actions don't match your beliefs, in other words, you're not doing the action, it's really doubtful you believe it. So if you can't get your beliefs under control and your thoughts, then you're messed up. So mindset's key. The second step is mapping. Now, this is strategy. So this is defining and creating your vision, your mission, your roadmap to success. So what's involved in this particular step with mapping? Once you get your mindset right and you start with your strategy, your mapping, what's that involved? Right. Yeah. And George, most people just don't know where they're going, right? That's true. They don't. I mean, I think we hear this a lot, but it's defining your why and understanding why you're doing what you're doing. So it's like, okay, you're in business or you've decided to create a business or you're an entrepreneur and you're starting something new. I deal with a lot of people that they're just not getting to that. They're not getting to the end zone, right? They're not getting where they need to be because they don't know where that is. Yeah, they don't even know where the end zone is for sure. Right. And so, you know, I think it's really important to develop a plan to know where you ultimately want to be with your business. Are you are you designing the business to exit? You know, is the goal to sell? Right. Is the goal to, you know, create a legacy for your family? You know, is the goal just to create a stream of income? is, you know, what are you actually trying to accomplish so that you can design a plan and put it in place to get there? Yeah, I really like that because it's funny because, you know, we talk about it a lot with personal development and business mastery, but if you don't know where you're going, you know, you're going to have trouble getting there, right? And so when you talk about what's going to be covered in this particular step, when you really get into your strategy you know there's so many things with regards to you know your mission statement your personal story but also what drives you this is before because most people they jump right into building their business and they not only don't know where they want to go but it may not align with who they are like their unique talents or what they want to really accomplish impact wise in in the world that's why so many people build businesses and they're not fulfilled with it right so when you begin with the right strategy and the right alignment of the strategy I think that helps people to also have more fuel and motivation and things for their business as well don't you think oh absolutely and and I think here what what a lot of people don't do is they don really go deep with this they get really surfacy yeah like like you hear people say well you know I want to make a million dollars or yeah you know I want know I want to buy a Ferrari right Or I want the really surfacy things and they don really dig deep and get into the why behind that It's like, well, why do you want a million dollars? Like, what does that mean to you? Does that mean time and vacations with your family? Yeah. Does that mean that you're able to, you know, do something with your kids that you might not be doing now? like what is the what is the meaning behind it yeah and really dive into that so that you know so that when you wake up every day it's not I don't just want a million dollars I want a million dollars because yeah that depth is key because I think so many people especially entrepreneurs have heard know your why and it's yeah it's a vision I mean it's fuel for your by having your vision it's your fuel but but it really if you're not aligned you're not gonna have the fulfillment you're not gonna have the passion and when I say alignment I'm talking about things we mentioned on the podcast before like your unique talent your your impact your stuff you have purpose and passion behind so I like that but I also like what you said when you said what's your goal like do you want to have an exit do you want to build a business that is free from you having to manage it all the time or do you want to have an operation as a physical business a virtual business so strategy is really huge and I do think a lot of of people begin their business and they never really get back and create the strategy so that's I think that's a masterful point and I think that that is something that's critical so mapping your business that's the second step the third one is marketing now marketing I know is like one of your real passions we both have been in marketing for quite a while but this idea of identifying targeting and attracting leads to grow your business and brand what you know what that's a whole master class a whole workshop in and of itself but at a high level talk to me about what this step really requires from a marketing standpoint what's involved with the marketing yeah good question George and you're right I could spend I could spend days I think on this topic so sure you know overall I think most business owners have a just a general misunderstanding of you know how how and where their marketing dollars are being spent yeah and so you know I try to break it down and make things pretty simple you know when I think of marketing you know I really think of three three things and that is you know defining your market okay you know who who is your target audience you know and that's you know geographically demographically you know what type of you know affinity relationships are your mark is your market involved with you know then I think of the the messaging okay so once we've defined the market you know what is the message that we're not going to create that's going to go out to them you know in creating that message you know we we get into things like you know helping helping clients and create what we call their market dominating position right you know developing a core story around their business and their product and their service that you know everybody in their organization is going to know and represent right um so that that's consistent and deliverable and then you know we also uh the next step would be thinking about the media so now that we've got you know we've defined the market we have our message what types of media uh are we going to use to convey that message and again there's all types of media that we can cover again that we could spend hours yeah uh going down that path Well, you've got a lot of depth in here too, because I'm looking through some of the curriculum that you generally go with when you're mentoring with individuals. And, you know, obviously finding your avatar in your market is so key with marketing. So many people go out there and try to just sell whatever they need to rather than identifying who it is that they're working with. but I love how you go into depth with message and this idea of having your market dominating position the core story individuals really need to drive deep into that because it's sort of like anything else when you put the foundation and structure the business in place right the rest will happen so as you start to roll out your media and yeah right now you know it used to be that we were doing events where we had man we were dropping a million pieces of direct mail a week we were doing radio TV but now you know social media content marketing direct mail telesales all these different mediums that you can use for driving marketing your business a lot of people don't even understand that it's a science in all those areas when you say I mean oh yeah I mean it can be totally overwhelming it's overwhelming but also they think it's obvious that's not right yeah yeah so so those are all details that people need to look at so I like what you said you basically have in marketing this idea of your market your message and your media that's I know you use this this analogy of a triangle those are the three things that are the core most important things in marketing right yeah absolutely okay okay so step four so that's step three so now we've talked about mindset we've talked about strategy which is mapping and we've talked about marketing now what happens is monetizing which is sales this is a thing a lot of people kind of shy away from but in sales it's building developing and optimizing your sales process to create the most revenue so what is involved in sales like talk to me a little bit about this whole idea monetizing yeah so you know when we think of sales I know that most people are going to just think of you know sales training right yeah sales techniques there's all kinds of books that have been written about how to sell But, you know, what I always try to dive into is I like to go back to the beginning, right? And I think, you know, when it comes to sales, it's people first. You know, who are your salespeople? You know, for a lot of entrepreneurs and business owners, and if they're smaller, it's themselves. Yep. Right? But it's like, okay, so what is the right person in place to make the sale? You need to have a sales team that also has the right mindset and the right systems in place. So, you know, are you hiring the right people? What does that hiring process look like? What does your onboarding process look like for your company? Typically, that's, you know, going to be what happens in the first two weeks to get that salesperson excited, knowledgeable, and up to speed. And this is whether someone's got in-house sales or even they're outsourcing. These are skills they need to understand. These are things they need to have in place, right? Absolutely. For processes. Yeah. Because you're a process guy. Got it. Okay. Absolutely. Okay. Keep going. You know, then what happens after that onboarding process? You know, what does your ongoing training system look like? I mean, there's a lot of studies that have shown that, you know, your happiest salespeople are getting, you know, constant training, constant nurturing within the organization so that they can improve their skills. Got it. Culture, you know, is a big thing. Especially with sales, yeah, right. You know, I mean, what does your internal company culture look like? Okay. You know, does your sales team feel appreciated? You know, do they have the tools? Do they have the technology that it takes for them to be successful? Compensation. Are they being compensated? That's a huge one, yeah. Right? So all of these things come into this category of monetization that we talk about. Well, and I'll tell you, sales obviously is what makes or breaks a company, right? Like you got to have revenue. Right. And even these, a lot of these types of things you got to cover are whether they're online or individual, but we are talking about monetizing leads. We're talking about creating revenue for the company. and I know that with regards specifically to salespeople it's such a delicate deal to deal with salespeople whether it's in your company or externally and there's so many intricacies that I know you've learned over time because you've had thousands of salespeople right yeah and so I think it's important I really like that I want to highlight it's not you know you hear hiring right right but it's not just about bringing on the right salespeople but it's also about having the right systems and training onboarding support in place and then those little factors of compensation as well as culture they make or break a sales team like long term I mean I've had we've had sales teams that have had you know guys that are just massive performers and it's probably completely contributed to compensation culture things like that right so yeah and and so that's gonna make or break the company monetization is key. Alright, so now, once you've got your mindset, you got your strategy you got your marketing to create and optimize leads you monetizing those leads then we get into a pretty exciting area And this is actually one of the ones that most people actually start with but without the background right And that is momentum. And that's using strategies and tactics to grow your business. You hear about things like creating sales funnels or doing all kinds of techniques and strategies. So this is kind of a sexy one, but let's assume the other stuff is put in place. when you talk about momentum and growth strategies, what does that mean? Like what is, what do people need to cover when it comes to that? Good question. So when you're talking about momentum, the things that come to mind for me are, it's what's really important, right? So in a business, what's really important? It's your leads, your conversions, your transactions, your pricing, and your profits. That's really what it all comes down to, right? So, you know, when we've done the work and we've put the other things in place, right? We've done our marketing, we've done ourselves. Now we focus on the momentum. And we want to, you know, make sure that we're spending our time as a business owner focusing on those key factors. You know, it's kind of like as a business owner, you know, we're spending our time, you know, we're having meetings, right? We're doing trainings, you know, we're doing all of these different things. And so, you and I have talked about the 80-20 rule. Yeah, yeah, yeah. It's like you spend 20% of your time working on things that produce 80% of the results. Yeah, and most people actually spend time on the 80% that only create 20% of the results, right? Right, right. So, as a business owner, if I was looking at how I'm allocating my time and I'm going, That 20% of my week that's going to create 80% of my results, what am I going to think about? And it's going to be leads, conversions, transactions, pricing, and profits. Yeah. And how do I dive into those five categories and tweak and improve each one of those? That's great because those are the levers, right? So as we talk about metrics, and you guys hear me talk on the podcast a lot about KPIs or key performance indicators. it really all the noise can be put aside it all boils down to what justin is saying which is you have these five levers you can pull you can get more leads you can get more conversions you can get more transactions you can you know move your pricing and increase your profits that that's really all it's about and when you analyze those and i think it's just as important to track those as it is to you know move those levers then it really becomes a science business becomes a science So let me ask you, just real practical, because we have a couple minutes here. Can you give us some examples of strategies that you would use to pull those levers? Because I know you've got these, you talk a lot about these eight growth strategies that you've had. What are some of the actual strategies that people can use to pull those levers as an example? Or maybe there's one in particular you could give us that maybe people could use in their business. Yeah, good question, George. So I've got a book that I've written called Show Me the Profits. And it's got eight simple strategies in the book that talk about things a business owner can do right now to pull some of these levers. So joint venturing is something that you can do. cross-selling, down-selling, up-selling. Those are all things that can be implemented that a lot of people forget about. Well, not only, and I'll mention, it's funny because I had a business that I've been working with recently and they're doing hundreds of millions of dollars with a certain supplement product. But this reminds me of examples like Dollar Shave Club and others that have a simple product, but just by cross-selling, when we talk about that, we're talking about other products you could sell that are not in that same category or upselling more of what you already sell these are all strategies that a lot of people leave on the table they're out looking for new leads but there's so many ways to monetize the leads you already have sure by upselling additional products cross selling other bundling products right check out bundles and things like that those are strategies and would you say that a lot of businesses do very many businesses implement these types of strategies from your experience no it's yes and no George I mean there's there's a lot of companies that I've worked with that it's surprising that they don't right you know you've brought up dollar shave club you know totally makes sense that they would say sell shaving cream yeah with the razors yeah right I mean we we all know the big upsell which is do you want fries with that right we've all heard that you know so you know and yet Some companies that have these products, they don't even think about adding or bundling or upselling other products. So, yeah, that's huge. And that can double, triple your profits, revenues, and things, because you don't have to acquire another customer to get it. Yeah. You're just adding more product, more profit. Yeah, even raising prices can be a strategy. That's true. Most people are afraid to raise prices when that simple strategy by itself blows their mind when they do it, and then they create more profit. even if it reduces the number of customers you have but your margins increase dramatically actually your business requires less stress too because less customers um i love that so okay so these are these are all momentum strategies obviously we can't cover all of those today because we're short on time and that was the fifth step was this momentum now step six is mastery and mastery um this is that step that you kind of talk about is creating freedom by using the right people resources technology and tools and I know it's a lot about people so explain to me what you mean when you say you know mastery as a step for your business well to be mastery is is now you're at a point in your business where you're creating the efficiencies and you're taking some of your time back as a business owner yeah because time is one of your well probably is your most valuable asset yeah yeah yeah right and so when I think of strategies I I think of I think of team having having the right team in place to execute your mission okay tools having the right tools in place and the right technology in place because nowadays there's a lot of technology that's out there that can create those efficiencies for a growing business yeah that when you were new or in the beginning or when you didn't have the budget you weren't able to apply And so, you know, when I think mastery, I think of, okay, now it's time to master my business, turn the screws of the dials, make sure that I've got everything dialed in, everything's operating, running efficiently. Are there costs that we can cut? Is there technology that needs to be added? Are there things that we can do within our company? You know, again, back to that culture that we mentioned earlier. Are there things that we can do culturally within our company to enhance our employees and do they enjoy coming to work? Is it fun? Are we thriving? So when we get into that mastery, I think that's when we're looking at all of those fine-tuning the business. Yeah, I love the perspective you put on it, though, because obviously, if you do it right, and you go through the steps with strategy and marketing and create all these systems, it's going to be much easier for you to be able to optimize your business when you get to this point. But when you mentioned time, I love that because most business owners or entrepreneurs even, the more their business grows, the more time it takes. and finding ways to systematize so that you can buy your time back is really the goal, right? We're trying to create lifestyle here. Sure. Having the goal of doing that. So I love how you say there's a goal behind optimizing and mastering your business. But I also like how you talk about people because I do think it's creating a level of leadership, right? We've worked with businesses before that they grow and then they put in systems in place, but they really haven't developed that leadership level. and when you develop your people and you create leaders you can step away from your but you can step back a bit and they're gonna pick up the ball and run with it pick up the baton right so leadership is key wouldn't you say absolutely and this and this part of mastery I think this is a good time to invest in your leadership that's a good point yeah and make sure that those people are ready to run the business yeah on your behalf right yeah cuz you don want to be running I mean the whole goal here of a business owner is not to you know be handcuffed to his business right absolutely and I and I another point that I want to make with mastery is you know also you know becoming the industry expert you know as the business owner as this yeah yeah it's now it's you're on you could almost create another business by becoming the industry expert in whatever you're doing yeah yeah now you're you've become that go-to to guy right where people within that industry are coming to you for help and knowledge and assistance and you know mentoring and what i love about your outline and and with these seven steps is if you're doing it right and you're systematizing along the way you're really creating systems that you can ultimately train and educate people on as well so you're almost creating that infrastructure and structure for a business in itself so I love that okay so now the other the last step and this is one I really love this is one that I think is so critical sometimes you begin with this in mind before you set things up but people don't do and that's money it's creating true wealth that's the whole reason we create revenue with business and this is applying advanced strategies to grow and protect your wealth and I think it's important to note here you know there are strategies that the wealthy use that successful business owners and investors use that have proven over and over again to help accelerate your wealth and protect it right so talk to me about money and it's interesting with business why you add this why this was something we put in what is it like what is money what about yeah mastering money right and well well the reason why this has been put in is because I I mean I know that you have watched a lot of people build some big companies oh yeah and so am i and at the end of the day there's nothing there yeah i've even had that with multiple businesses of mine it's like unless you use this step in the process you're not creating wealth you just have revenue and income and debt or expenses you're not creating wealth right and and sometimes it's easier to save money on your taxes or reduce you know protection than to go create it in revenue so yeah so what what's included in this? When you say wealth and strategy, what is that? Well, so it's a combination of things, like having the right tax structures in place, like having the right corporate structures in place, asset protection planning, insurance. How are you paying people within your organization? How are you paying yourself? You know, 1099 versus W2. Are you implementing IRAs, 401ks, you know, rent versus purchase? I mean, there's all of these different things that come into play that you've got to be thinking about as you go through this journey. Yeah. You know, and we're kind of going back to the mindset mapping here, right? For sure. What are your ultimate goals, you know, and what does that mean? You know, is this, is your business just a, you know, short-term revenue stream or are you building a destiny? Are you, are you creating a plan that you can, you're going to retire wealthy? Yeah. And so, you know, we happen to have access to a lot of companies, a lot of organizations that are experts at setting up, setting up insurance plans, setting up asset protection plans, creating tax strategies and corporate structures. Right. You know, I've gotten pretty good over the years as you want to. Yeah, yeah. You know, in guiding people, you know, down the right path and to the right organizations and people that can help put that together. I think you're right because, look, when it comes to money, there is a huge mindset piece around it. But the fact of the matter is this. Most people work for money. They don't allow money to work for them. Right. And unless you master money in general, you're never going to be able to have leverage. Ultimately, you want to move from trying to create and get money to having money work for you. And if you don't apply strategies that are proven, I mean, we've got access to the former senior prosecuting attorneys of the IRS. How do you structure your business? Is it an LLC or corporation? How do you implement certain strategies to invest? I mean, we even go into depth into areas like, you know, stock, real estate, asset protection, Forex, foreign exchange, you know, crypto. There's a lot of things that people need to understand with money, and I think it is very important. Sometimes you almost want them to start with that, but we've got to obviously create some momentum for people, too. So, yeah, I get it. So it's one thing to make the money, but then you need to learn how to keep. You got to keep it. And I love leverage. You know, that's great, too. So, all right, so we're down on time and there's so much. I mean, that's why this is obviously so important. I love it and I just want to do a quick review of these steps. So you start with mindset and then you go into mapping and strategy. Then you go into marketing, which is really critical, right? Then you monetize with sales. Then you have your momentum and then your growth strategies. And then you get into your mastery and then money. And these are the seven steps. And the reason I thought it was so critical to have you come on and outline this with people is there are there are maybe one, two, four or all of these steps that people are missing. But these are after, you know, decades of working with businesses doing over a billion dollars in sales. This is the most comprehensive formula for covering your business that I found. And so I really appreciate you going through this. And look, I know because we're short on time, you know, I know you've developed a full master class. And I know that this literal formula is what you use when you mentor CEOs and businesses and things like that already. You go in and you find the holes and where you need to supplement and this is how you grow businesses. So what I'm wondering is like for the mastermind and for them in general, where can they start? Like where would you recommend they go? What can we do for them to kind of get them started on this path with these seven steps? What are your thoughts? Yeah, good question. So, you know, a good way to connect with us right now would be we mentioned the book, Show Me the Profits, earlier in the podcast. So you can simply go to showmetheprofits.com. You can get a free copy of that book. It gives you eight simple strategies that you can implement right away to start increasing your revenue in your business. uh george and i are both on linkedin uh yeah good way to connect um but yeah that's that's a great way um i actually love that because you know even though we know you need to start with your mindset and you need to go through these steps one of the quickest simplest ways for you to create revenue is to apply some of these growth strategies and you you you wrote an amazing book this book it's called show me the profits i mentioned it before justin's mentioned it it literally has specific growth strategies you can do in your business today in fact it's strategies that you've used in less than an hour to help businesses find thousands of dollars in the immediate revenue so yeah if you go to show me the profits calm you can get a free copy of that book that's awesome and I think you even offer like a free console so they can get on the phone with you for a few minutes and just kind of absolutely have any question I mean depending on the schedule right it they can book an appointment with you okay yeah cool cool so great well that's that's all the time we have for today but the reason I thought this was so critical is over the next and upcoming weeks Justin's gonna come back and we're gonna each week have a session where we deep dive into these seven steps so we covered a few things today but what we want to do over the next upcoming weeks is go into some specific strategies in each of these areas let's talk about your avatar in your market let's talk about your message offer. Let's talk about your sales scripting. Let's talk about your specific money strategies. So we're going to go into depth over this. It'd probably be more than seven weeks, but we're going to go weekly and deep dive into these. But for now, give us some feedback. Hit me up on The Daily Mastermind on Facebook or Instagram. If you haven't already, hit like and subscribe on the podcast and share this episode. Share it with someone. We don't have any sponsors on the show. We do it strictly through word of mouth so share the show go to show me the prophets get a copy of the book and um anyway thanks for having you on the show today this was great man thanks i look forward to going through the stuff it's going to be it's going to be some deep dive so anyway that's the message for today i hope you have an amazing day remember it's never too late to start living the life that you're meant to live so you just got to get after it my name is george wright the third and this has been the daily mastermind have a great day Thank you.
