John Jantsch (00:00): This episode of the Duct Tape Advertising Podcast is delivered to you by Outbound Squad, hosted by Jason Bay, and dropped at you by the HubSpot Podcast Community. The audio vacation spot for enterprise professionals host Jason Bay, dives in with main gross sales consultants and prime performing reps to share actionable ideas and methods that will help you land extra conferences along with your splendid shoppers. In a current episode known as Fast Hacks to Personalize Your Outreach, he speaks with Ethan Parker about find out how to personalize your outreach in a extra repeatable approach. One thing each single one in all us has to do it. Hearken to Outbound Squad, wherever you get your podcasts.
(00:49): Hi there and welcome to a different episode of the Duct Tape Advertising Podcast. That is John Jantsch. My visitor right now is Dan Martell. He is an entrepreneur, angel investor and have become a extremely wanted coach within the SaaS trade. Based SaaS Academy after exiting three know-how firms with a ten 12 months, inside a ten 12 months interval. He is additionally an Ironman athlete, philanthropist, husband, and father of two unbelievable boys. I’ve by no means met them, so I am gonna need to take phrase for that one. However, uh, he is additionally the writer of a brand new e book out to purchase Again Your Time, get Unstuck, reclaim your Freedom, and Construct your Empire. So Dan, welcome to the present,
Dan Martell (01:26): John. It is an honor and, and it’s since you had been one of many first advertising podcasts I ever listened to again after I was beginning on-line stuff. So it is cool to be a
John Jantsch (01:35): Visitor. I am simply hanging round. I you have been on earlier than although, weren’t you, weren’t
Dan Martell (01:39): You on earlier than? I believe I used to be
John Jantsch (01:40): Readability or one thing. Yeah.
Dan Martell (01:42): However even earlier than that I used to be, I used to be a listener. So it is, it is at all times cool to, to see and get reconnected.
John Jantsch (01:48): S so purchase again your time. I had a bit bother with, not bother with, however you already know, form of processing the title identify and, you already know, everyone speaking about time is cash and, and yeah, some individuals can say, you are suggesting cash is time. Am I getting them
Dan Martell (02:03): Unsuitable? I am, yeah, I am saying, I really, within the e book, I, there’s three ranges of buying and selling. I name, I name it being a, an awesome dealer. After we begin off, we commerce time for cash. That is for the most individuals. That is workers, proper? Such as you. Yep. Yeah. Create worth then, then as an entrepreneur. So there’s worker then entrepreneurs, degree two. Degree two is commerce cash for time, proper? It is, it would not matter in case you’re, you already know, you purchase a Roomba to wash your home, nicely, you go to the workplace and pack stuff up. That is, that is buying and selling cash for time or workers and even contractors or your accountant or no matter. After which the third degree dealer is cash for cash. And that is, that is the empire builder, proper? And I believe if individuals understood that that is the trajectory in life to create one in all limitless, and that is why I say purchase the, construct your empire. In my world, constructing your empire is a lifetime of limitless creation that you just by no means need to retire from. And I simply suppose everyone ought to try and perhaps think about doing that.
John Jantsch (02:58): I am not gonna argue you on that one, however I did need
Dan Martell (03:17): As a result of, trigger it is the core of the whole lot I’ve ever finished. You realize, individuals see my life and their like, you already know, how do you run two eight determine firms as a c e O practice for Ironman, you already know, be a comparatively good husband. I believe I am an awesome father. I am nonetheless working with a husband’s stuff, however my spouse provides me good scores and stuff. However you already know, I, I reside a reasonably built-in life. You realize, I simply received again from a hell journey we had been simply speaking about, and you already know, final 12 months we took about two and a half months off traveled Europe and stuff. Like, individuals at all times ask me, how do you do that? And it is primarily based on this core premise known as the buyback precept, proper? And that is what’s distinctive about my e book then, you already know, all of the greats, proper? And, and I’ve learn all of them, you already know, you talked about like, you already know, getting issues finished and you already know, eat the frog and like there’s all these like epic productiveness books.
(04:03): However the buyback precept states is we do not rent individuals to develop our enterprise. We rent individuals to purchase again our time. Cuz you will get the primary in case you do the second, however you’ll be able to undoubtedly not get the second in case you get the primary. Cuz I’ve simply been mates with so many creatives, enterprise homeowners, et cetera, that basically construct a enterprise that they develop to hate. And the most important danger to enterprise will not be the market, it is not the financial system, it is not, you already know, your staff. It is actually you deciding, I do not wish to do that anymore and simply cease doing it. Proper? And I addressed that within the e book with this framework known as the Ache line and the buyback loop. And you already know, so in my, in my world of productiveness, we at all times begin with the calendar and we at all times determine what our buyback price is.
(04:45): And if we perceive what are issues that mild us up that make us cash, and what are issues that take our power that, that drain us, that that might value little or no pay anyone else. And, and, and you’ve got some construction round the way you sequencing, hiring and shopping for your time again. It is truthfully math. It is a mathematical equation. You may’t mess it up. Such as you will not be capable of develop your small business the place you make much less cash with out including. Like, you actually will purchase again time and reside the next high quality life cuz you already know, you’ll be able to’t construct 1,000,000 greenback firm off $10 duties. However but individuals day by day, it would not matter in the event that they’re, I’ve shoppers which might be operating 100 million greenback firms and nonetheless do essentially the most ridiculous issues with their time and, you already know, no person’s ever challenged ’em on it.
John Jantsch (05:25): Yeah, I believe it is wonderful. You realize, it is, it is fairly basic math, proper? If I wish to have 1,000,000 greenback firm, I’ve to do x a month
Dan Martell (05:34): Hour has to
John Jantsch (05:35): Produce X. Yeah. Yeah. So, so how a lot, and perhaps you do not even trouble making an attempt to argue with individuals which might be on this mindset, however how a lot mine trash, you already know, is constructed up with individuals of claiming, oh, however you already know, my dad mentioned I used to be imagined to mow my very own grass. You realize, I imply, how a lot do, do individuals have to beat that form of mentality, even when it applies to the office earlier than they’ll even begin, you already know, taking over a few of these rules?
Dan Martell (05:59): Th that is, I imply that is the whole lot. It is why I wrote chapter three known as the Time Assassins as a result of there’s these psychological scripts that folks run. You realize, like after I began off I used to be, you already know, I am imagined to be the chief workplace cleaner and sandwich maker and also you hear these items, proper? However like, I keep in mind one time I used to be reaching out to when an organization invested on this, this child Ethan, and I used to be like, Hey, we should always go to the workplace and work on like, form of technique. And he is like, I am doing my laundry
(06:43): It is round self-worth, proper? I do not really feel worthy of this. There’s a component of that. Yeah, there’s, I am petrified of what different individuals, together with my staff would suppose, proper? If I employed anyone to do that for me, what would my neighbor suppose? I imply I’ve, I’ve coached shoppers on each degree the place, you already know, one girl’s like, I do not need my neighbor to suppose that I am so busy in my enterprise that I can not clear my very own home and have a cleansing girl parked in my driveway. Proper? Or I do not need my mother-in-law to search out out that I’ve anyone making, you already know, lunches for my children or meal prepper or dinners or no matter it’s. Prefer it’s simply fascinating. There’s, I can not afford it, proper? It isn’t true. However they are saying that to themselves. I do not belief myself. It is a large one. What, what if I purchase again my time and I do not do something good with it and I simply wasted that hour, proper? That is one other one I’ve, I’ve heard all of them. So it’s, it’s really all of that. In order that’s why like I attempt to break it down into a primary precept like actual math the place you simply cannot deny it. Look, that is, that is the truth. Should you perceive your buyback price and also you do something that you may have paid anyone else that quantity or much less, you then’re working in opposition to your self of making an attempt to create a life that’s really higher for you and your loved ones.
John Jantsch (07:55): Yeah. So let’s, I had it all the way down to, to ask you about, however let’s go forward. It is a excellent place to throw in, you already know, clarify buyback price.
Dan Martell (08:01): Yeah, it is math so I perceive John, proper off the bat I am gonna lose individuals so please everyone simply stick with me, I am going to make it enjoyable. So basically you have to perceive what you’ll be able to afford to pay anyone else to do primarily based in your present revenue degree, proper? And revenue for me is your wage revenue after which additionally discretionary bills. Cuz lots of people do not make any cash on paper trigger they do not like paying taxes. High quality, however throw that in. So to illustrate I make 100 thousand a 12 months in revenue, that could be 70,000 in wage. I pay myself from the enterprise. It could possibly be 20,000 in revenue and 10,000 a 12 months in discretionary bills that are not actually enterprise however you already know, who cares? In order that’s 100 grand, I divide that quantity, no matter it’s for anyone by 2000, you already know, on this case that works out to about $50 an hour, 2000 is as a result of that is the quantity of hours a mean person who takes trip and weekends off will work, proper?
(08:49): After which since you wanna get a 4 occasions ROI in your funding of shopping for that point, take that quantity and divide it by 4, proper? In order that works out to about $12 and 50 cents. So in case you have a look at your calendar and also you’re doing something along with your time that you may have paid anyone $12 and 50 cents or much less to do, you then’re really not being an excellent time dealer and also you’re working in opposition to your self to liberate the area so that you can go and reinvest that in increased worth, increased leverage issues, even when it is stuff that’s equally priceless however you simply do not love to do. Get that stuff off your plate as a result of simply stacking issues which might be inexperienced can have essentially the most, the most important affect out of the whole lot since you’re bringing a way of power to the following factor, the following factor that you just simply cannot even quantify a greenback roi, however it’s an emotional roi.
John Jantsch (09:37): Yeah. It is humorous you talked about that like 1250, proper? I keep in mind after I first began I did payroll and I did payroll stories and I filed all of the stories. First off, there is a thoughts numbing quantity of stories
Dan Martell (10:15): The one you are able to do, and that is why I wrote the e book cuz I, I really sh display that your small business, your prospects, you’ll simply be happier and far more productive producing while you, you form of comply with these two, you already know, lights you up and makes you some huge cash. Attempt to simply do as a lot of that in your calendar while you determine to work and while you’re not working, go spend it with individuals that you just love and yeah, that is a very good equation.
John Jantsch (10:38): Yeah. Think about how a lot time individuals waste and in the event that they similar to work three hours a day on just like the stuff, that is all they’d need to do.
Dan Martell (10:45):
John Jantsch (11:29): I used to inform my children after I was little they usually’d say, what do you dad, what do you do for a residing? I say, I delete e mail
Dan Martell (11:36): Electronic mail
John Jantsch (11:37): Deleter
(12:26): One of many issues that you just, and you are not the primary to say this, however I like your method to it’s clone your self. All people ought to have an assistant. All people ought to educate anyone else find out how to do the stuff that they suppose solely they’ll do. I do know pe different those that have on condition that recommendation, I believe you have gone a bit farther and had a, really a greater system for it. However I additionally know lots of people which have tried that they usually simply, they like have a look at that particular person and go, I do not know what to inform ’em what to do. So, so what, what’s your recommendation on anyone? First off you are saying simply get overdo it, however then one
Dan Martell (12:54): Factor, then I give it a system. Yeah, so I imply what what’s enjoyable for me is nothing I wrote about I believe is, you already know, I believe that is simply life. I am, I am, I am constructed by my neighborhood. I’ve learn over 1500 books. I am, I am a remix of the whole lot I’ve ever learn. What was lacking for me, and this is the reason I wrote it, I’ve like very distinctive perspective. So for instance, with the chief administrator admin kind function, there’s two issues that need to be true. One, you must give them one hundred percent of your inbox, that means that you don’t contact the emails first they do they usually triage. And two, you don’t contact your, in your calendar. You give them a framework in your calendar, which I name the proper week. Form of like, uh hmm that is what my good week appears like.
(13:33): These are the areas you set sure varieties of issues in there and, and also you personal that, not me. So I do not even contact my calendar. If I wish to add one thing like this podcast, I I, I’ll ship a message to my government assistant or she manages it after which she’s liable for ensuring the whole lot’s there. Now the place it falls aside, cuz you simply talked about it, like what do I even get them to do? My brother bumped into the identical factor. I’ve a brother Pierre, he is like, you already know, and he ran, he was operating in all probability a, you already know, a number of eight determine firm when he, when he’s like, Hey, I in all probability want an government assistant. I am like, yeah, however you already know, he received actually environment friendly and after he received by means of this like loopy ache line interval of his life, he employed venture managers, he runs a house constructing firm and he, he received to a greater place, however it simply, it it began consuming away of his mindshare and he is received two little women and he simply seen that he was not current.
(14:21): So he’s like, I want anyone that displays in order that I haven’t got to fret about it. Proper? As a result of that is actually what an inbox is. It is like, do I’ve a fireplace? No, I am good. Do I’ve a fireplace? No, I am good. Proper? So I gave him, I gave him all my SOPs and stuff. It was about three, 4 years in the past and you already know, six weeks later we’re at a barbecue and I used to be like, Hey, how’s the brand new assistant? Like, inform me all about it. I used to be all excited and he is like, I do not see the massive concepts. And I am like, you did not give them one hundred percent of your inbox, did you? It is like, what are you speaking about? I mentioned, I, I wrote it in all daring. And he goes, nicely no, I simply CC them on stuff. That is the problem. In case you are triaging, you did not purchase any time again, proper?
(15:02): Like simply having anyone that you just like schedule this, purchase this, you already know, you are like giving them orders. No, your inbox is definitely their, their their initiatives. So like for instance, my government assistant, I haven’t got initiatives, she has initiatives. They technically occur to be mine, however I am the expertise on the venture. So she owns getting them full. I do not personal getting them full and it is just a bit shift like that that I believe is what could possibly be lacking. You realize, how do I hold them busy? After which, after which, you already know, then individuals are like, nicely how usually do you discuss to them? I put that within the e book. I actually took all of the questions I have been requested, I simply haven’t got sufficient time in my week to have these very detailed dialog with all my mates. I simply put within the e book, here is the every day assembly.
(15:42): Even have it proper after this, the dialog, I’ve it with my exec assistant. It’s extremely structured. I give the agenda within the e book. I, I inform the aim, even the e-mail system, the e-mail GPS system, it is within the e book right here. All of the folders we use within the labels and why we use them and it, it, everyone my spouse purchased employed an government assistant, John, okay? She lives with me. She sees this, it wasn’t till I wrote the e book, she learn the e book. She goes, I get it now. And she or he received an government assistant, modified the sport for her. So yeah, I am actually excited as a result of I believe that these are the lacking items that even was lacking for me, you already know, 15 years in the past that has actually allowed me really a clone. I imply there’s two individuals in my life, my home supervisor Betty, and my government assistant Anne. I might promote the whole lot earlier than they depart my life
John Jantsch (16:26):
Dan Martell (17:01): Have been busy. I educate that within the e book. Did you see the language used? Sure. I educate that within the e book cuz I am Canadian, John, I I do not wanna be taken as like, you already know, too good or what. Like I had lots of worry in my thoughts in that language of claiming, you already know, that is Anne Dan’s assistant and I received to this earlier than he did and I assumed you’d respect a speedy reply man that unlocks the whole lot. And, and look, I might’ve replied if I had the time, however I used to be pr like, that is the factor is I get to go on and have nice conversations with your self and I am right here and what if the following assembly there’s an e mail that canceled it? Nicely, as a result of I’ve anyone supporting me. Yeah. That assembly will get stuffed with anyone else that was on the queue and pulls ahead. So like take into consideration simply the quantity of, of alternative I pull ahead into this calendar 12 months as a result of I get to spend, such as you mentioned, what in case you solely did these three hours of issues you may do? Yep. And not one of the different stuff. However these three are like actually significant power giving, inexperienced productive stuff. Man, your life simply will get actually cool, actually quick.
John Jantsch (18:00): So I wanna, I wanna cowl yet one more idea for we’re out of time right here and that is the alternative ladder.
Dan Martell (18:07): It is one in all my favorites as a result of I at all times get requested like, so what is the sequence, Dan? Like how, who do I rent first then second, third. And took me some time to form of actually like battle take a look at this technique. However basically the concept is that if I used to be beginning at zero and I needed to rent 4 or 5 individuals what order primarily based on the buyback price, primarily based on the drip matrix, primarily based on the calendar, if I needed to sequence it, these are the, these are the 5 I might rent so as first one proper out of the bat. Degree one alternative ladder is an government assistant and the clear end result and I write about this e book is inboxing calendar. They need to personal it. That is why I speak about possession. They personal these two issues, not me. Then I get to maneuver to degree two if that is true.
(18:52): Degree two is supply, what some individuals name achievement, proper? Or onboarding. And the 2 issues that that particular person owns is the post-sale expertise and the shopper expertise. In order that they onboarding. So like as quickly as anyone takes a bank card, they course of it, they onboard, they, they, they get data from them, they get ’em scheduled, no matter it’s in your small business and any questions that particular person might need about their work, that particular person can reply, proper? So that you could simply do, if it is teaching, emblem design, podcasting or no matter, you try this nothing else. Degree three is advertising as a result of lots of people run into this like feaster famine on the subject of advertising as a result of after they’re busy they cease and after they’re not, they’re hungry. In order that they do lots of it and it simply retains going like a yo-yo. So even a part-time particular person targeted day by day waking up and simply specializing in what I name the campaigns and the visitors, like considering strategically, creatively concerning the campaigns it is best to run yearly.
(19:49): There’s, there’s this pure rhythm in, in enterprise. After which additionally like, did anyone change the colour of a button that made it in order that no person sees it within the checkout web page? Like what is the visitors doing? Like I’ve seen this occur. Yeah. So it is simply part-time or full-time. Any person devoted to producing alternatives for your small business and also you, you’ll be able to nonetheless be the expertise, proper? Like I run an enormous teaching enterprise, I am nonetheless the expertise, I am the face of the enterprise, however I don’t, you already know, click on buttons in Fb advert supervisor or regardless of the staff does. Yeah. Then degree 4 is gross sales, proper? Hmm. And gross sales is all concerning the name, proper? Which is tremendous enjoyable. You get a possibility that is available in your inbox, your assistant can simply ahead it off to Mike, who’s your scale specialist, your product specialist, your technique particular, like no matter you wish to name them.
(20:34): After which Mike can transfer that factor ahead when you’ve been in conferences along with your staff or speaking to a different consumer or no matter it’s. And so they personal the comply with up as a result of CEOs and entrepreneurs are horrible at comply with up. So it is like all these items at the moment are gonna be finished outta 10, outta 10. And, and, and at degree 4 what occurs, John, that I believe is tremendous thrilling. That is the place you even have a enterprise that may make cash when you sleep. You understand how everyone talks about that? And people infomercials and people web entrepreneurs speak about this. You might have anyone now that generates leads, anyone that enrolls that consumer into your world and anyone onboards and takes their cost and ensure they’re good to go. And also you get to indicate up and do the work you like to do. Degree 5, which is the highest degree, that is management and that is while you begin desirous about firm constructing and never simply, you already know, only a solopreneur and stuff.
(21:18): And you may keep there truthfully in case you’re, in case you’ve received these 4 different hires in place, I imply, you may be making a pair million bucks a 12 months and dealing 25 hours per week and that is a gorgeous place to get to. Then you’ll be able to learn to commerce your cash for cash. However yeah, the extent 5 is a enjoyable one and that is often the place I begin working with shoppers. However these are the 5 ranges of the alternative ladder. And mathematically you’ll be able to’t deny the price that every degree form of goes up, however it unlocks one other degree of income on the acceptable time. And there is a motive why you do gross sales earlier than or after advertising, et cetera, et cetera.
John Jantsch (21:51): You realize what’s humorous is as I take heed to you listing these, I, I am desirous about all the businesses that do the, the precise reverse order. You realize, it is like I am the chief of the corporate. I’ve to love be, you already know, be that I should be the CEO after which I am gonna go rent salesperson so we will get extra gross sales
Dan Martell (22:08): Or a coo. Let, let’s go, let’s go. Oh, I I do not wanna do that anymore. I am gonna rent a coo. Do you have got an government assistant? No, begin there. That is a approach cheaper. I had a good friend go, I want to rent a salesman. I’m going, what number of gross sales calls do you do 4 per week? You do not want a salesman, you have to generate greater than 4 per week. Why? Why haven’t got time to do the advertising? Oh, why do not you have got time to do the advertising? As a result of I I am nonetheless concerned in achievement. Oh, do you have got an government assistant? Yeah, form of. Does she handle your inboxing calendar? Probably not. So it is, it is actually, you simply cannot argue. It is, I actually wished to distill the e book within the first rules that had been backed by some degree of math to only present individuals like time does have an equation and the way in which you leverage that, good or unhealthy is gonna dictate in case you can transfer issues ahead.
John Jantsch (22:52): So Dan, we’re invite individuals. I do know you have got a, an internet site for the e book itself. The e book’s accessible in all places. Promoting rather well, why do not you invite
Dan Martell (22:59): Folks Wall Road Journal greatest bestseller. I do not know in case you noticed that John quantity
John Jantsch (23:02): Two. I did, I did, I did.
Dan Martell (23:03): That was fairly cool.
John Jantsch (23:05): Yeah. That is superior. That is superior. Nicely, it is, and it is a type of books that we’ll in all probability decide up momentum as a result of individuals will inform their mates, you already know about it simply because it is received some actual sensible hands-on, you already know, very dialed in stuff. So the place, the place would you want individuals to attach with you or discover out extra about, uh, the e book itself?
Dan Martell (23:19): Yeah, so the web site’s purchase again your time.com and you’ll go to any retailer in particular person or on-line to get a duplicate. However I do have a free workbook that I, I added within the e book or you’ll be able to go get on the web site after which I am Dan Martel to Elza Martel on all social platforms, TikTok, YouTube, LinkedIn, you point out it, I am there. And my favourite although is Instagram story. So if individuals wanna really see how I apply the buyback precept in my work and private life, like how I work together with higher home supervisor and, and other people to help my spouse and I, that is the place I do it. Cuz I believe it is actually, actually cool to only share the, the nuance of the methods. I am a I am a software program man, so like I, I can nerd out on lots of the instruments within the course of.
John Jantsch (24:01): Superior. Nicely Dan, thanks for taking a second to cease by the Duct Tape Advertising podcast and hopefully we are going to run into you quickly, one in all lately on the market on the street.
Dan Martell (24:09): Absolute honor, thanks Sean.
John Jantsch (24:10): Hey, and one remaining factor earlier than you go. You understand how I speak about advertising technique, technique earlier than techniques? Nicely, generally it may be onerous to grasp the place you stand in that, what must be finished with regard to making a advertising technique. So we created a free device for you. It is known as the Advertising Technique Evaluation. You will discover [email protected] marketingassessment.co Try our free advertising evaluation and study the place you might be along with your technique right now. That is simply marketingassessment.co. I might love to talk with you concerning the outcomes that you just get.
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