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Episode 48

E48: Finding the Full Fat Version of Your Business with Gill Moakes

I had the pleasure of speaking with a coaches’ coach, Gill Moakes, who helps purpose-driven women get to the next level of their business. From the journey that got her to her current work to the insights and encouragement she offers her clients, Gill has a unique approach to entrepreneurship that starts with deliberately setting aside imposter syndrome and realizing your financial potential through a money mindset.

In this episode, you will learn:

  • What a full-fat version of your business can look like when you get past the self-limiting stories you tell yourself
  • How to look for your Big Goal and envision the micro-steps you need to take to get there
  • Rethink your value by shifting from a focus on your competition to providing superior results to your client
  • BONUS we had a great exchange about how leveraged IP has become even more important in today’s world

Our conversation ranged far and wide, with insights and humor and a side discussion on British accents. If you find your business needs some attention to the IP issues we raised, contact me for a consultation.

As Mentioned in the Episode:

https://www.gillmoakes.com/fix-your-money-mindset

More About Our Guest:

Gill Moakes is a UK-based business coach & growth strategist who works with coaches and other change-makers to bring the full-fat version of their dream business to life. She’s obsessed with cutting through the noise when it comes to growing your business in a way that feels right for you. Gill believes that when you’re brave enough to do things your way and you’re outstanding at what you do, then there’s no limit to what you can achieve.

Connect with Gill Moakes:

Connect with Erin and find the resources mentioned in this episode at hourlytoexit.com/podcast.

Erin's LinkedIn Page: https://www.linkedin.com/in/erinaustin/

Think Beyond IP YouTube Page: https://www.youtube.com/channel/UCVztXnDYnZ83oIb-EGX9IGA/videos

Music credit: Yes She Can by Tiny Music

A Team Dklutr production

Transcript
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Welcome to the Hourly to

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Exit Podcast.

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Ladies, I am so excited about

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today's guest, Laura Posey.

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Laura, welcome to Hourly to

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Exit.

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Thanks for having me today, Erin.

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I'm excited to be

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here.

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Well, we have a ton to talk about,

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but before we get started, would you

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introduce yourself

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to the audience?

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yeah, so I'm Laura Posey.

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I live here in Richmond, Virginia.

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And, my whole job, what I do all

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day, every day, is working with coaches

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and consultants to show them how to

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plan their entire year on one sheet of

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paper, and then how to get it all done.

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That is

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amazing.

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there's not a single person listening

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to this episode right now who does

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not want an easier and simpler way to

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get things done.

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So this is gonna be tremendously

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helpful to everyone.

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So I was looking at a recent,

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webinar that you had on LinkedIn

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where you talked about using your.

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Framework to plan your entire

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2023 on a single piece of paper

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and be prepared for a success no

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matter what the economy does.

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And so when I think about your one page

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business plan, this simple success plan.

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I think about something that

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I like to talk about, which is, is

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there a Rembrandt in your attic?

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And basically that is, in business

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terms, not in, literally Rembrandt.

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Yeah.

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But in business terms, where we

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have that hidden undervalued asset

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that we just use in our business all

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the time, and we don't even realize

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how valuable it is because maybe

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we haven't even put it in paper.

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We just.

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Goes through the process.

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Every time we bring in a client, we go

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through the process.

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Every time we create a deliverable, we

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go through that process and it's

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just part of what we do every day.

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And we're not thinking about the

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independent value that it may have.

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but when we talk, when we look at

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whether or not you have a Rembrandt,

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your addict, we look at all those

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internal processes.

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And, how do we systematize 'em if

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they aren't already.

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formalize 'em if we want to use

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them to say, train people internally

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to do what you do or to license it

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to other people to do what you do, or

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to turn it into a product that you

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can sell separately or have available

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separately.

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So when I think about.

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You're a simple success plan.

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I'm wondering like, is that

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the process that you went through

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from services to framework

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to product?

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Yeah, I think the way so many things

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start is I needed it for myself.

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Mm-hmm.

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And so I created it for myself and it

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worked really well.

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So I was like, well, let me see

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if this works with my clients.

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And so, yeah, started doing

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that with clients.

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And then over the years it's, just

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evolved and grown as I've gotten

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better at what I do.

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now it's, really the center of everything

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that we do.

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Like, I just don't work with anybody

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now unless we have a plan in place

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first, because we all need to know

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what we're trying to accomplish, where

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we're going and what we're doing.

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Yeah.

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I mean, you say

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that you, the one page plan generated

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over 2 million in your business.

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By that, do you mean that was, uh, that's

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how you created your business or

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that's how you use it, exploit it,

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and there or both?

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Um, a little bit of both.

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Like it, it's been the.

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The, I always talk in, when I'm talking

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to folks about what I call a front door

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offer and, you know, it's, it's the door.

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You bring everybody in, and then once

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they're in, then there's all sorts of

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other stuff that you can do with them.

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Mm-hmm.

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And it's just been my front door offer

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for so long now.

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Mm-hmm.

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Um, because it, it just sets the

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foundation for everything, right?

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Yeah.

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So, um, not all, not all my money

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comes directly from planning.

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But it all starts with planning.

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Well, let's back up and talk

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about like yeah.

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Who is your client?

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Why do they come to you, and how

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do you help them?

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So my clients are generally coaches

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and consultants.

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Um, they're in the five, maybe they've

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hit low six figures.

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Um, and they, they don't wanna scale.

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Like, they're not trying to

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have a giant team and, you know,

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rule the world.

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They just wanna have a really kick

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ass lifestyle.

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They wanna make, you know, two 50 a

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year personally in their bank account.

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Mm-hmm.

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Maybe they've got a part-time va

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somebody to do their web stuff for them.

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Mm-hmm.

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Um, and they just wanna show up and,

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and do great work.

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And get paid really well and have a

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lot of freedom and free time to live

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the rest of their life and spend the

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money that, that they're earning.

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Mm-hmm.

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Yeah.

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Yeah.

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I will say that has been me for many,

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many years and until, uh, recently

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may not recently, I've been, you know,

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looking at doing other kind of more

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scalable stuff and.

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And expanding.

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Um, but that was absolutely, you

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know, having that flexibility and

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yeah, being able to go to the tennis

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match if you wanna be able to hype with

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the dog if you want to, but still have,

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use your expertise and be able to,

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um, do good work at the same time.

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Exactly, exactly.

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And is there something, so

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what are they feeling then?

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Like, what is, what is their pain when

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they go, I need to go talk to Laura.

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Yeah, so generally they're at that

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place where, They've bought, you know,

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every online course that there is

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on marketing and LinkedIn strategies

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and lead generation, and God only

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knows what else.

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Now, it's all, uh, it's all

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about ai, right?

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Mm-hmm.

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Everybody's buying all the AI stuff

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and, and they're just like, none of

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this is working.

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I don't know how to put all

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this together.

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I know all this stuff, and I'm

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still not earning enough money.

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Mm-hmm.

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And so I sit down with him and.

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And you know, say like it, you've

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got all the pieces, parts that you need.

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It's probably nothing else that

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you need to learn.

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You just need to put it in

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the right order.

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You gotta start with like, what do you

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really want in life?

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Mm-hmm.

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Like, let's get really serious about

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your lifestyle and figure out how much

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that's gonna cost.

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And then let's build a business

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to deliver what it is that you really

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are looking for.

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And so we, you know, we walk through a

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plan, you know, and we, we look at the

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basic stuff like, you know, what

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are your goals?

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But we look at money goals, but,

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you know, how much time do you

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wanna take off?

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How do you wanna feel in

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your business?

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Mm-hmm.

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Um, you know, what's on your bucket list

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that you wanna get done, that you're

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actually gonna get done this year?

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Like, what are you committed

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to doing that's like super fun or

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super interesting?

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Um, And then we start looking at

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what are the changes that have to happen

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in your business if you're gonna

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make the money that you wanna make.

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And so I use a a, a framework cuz I

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love frameworks, um, that I built called

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the Success Circle.

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And it looks at the 12 areas of

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your business.

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And, and we literally like

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colored in like the, you remember the

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old life wheels?

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Mm-hmm.

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And you would color in the little

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pieces of pie to see how well your

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wheel rolled.

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We do the same thing for business.

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And it helps people realize like, oh,

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this is where I need to actually invest

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more time and money.

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This is what's holding me back.

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So we start putting together

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like, what are the projects that need

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to happen to make those changes?

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And then how are we gonna get 'em done?

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Mm-hmm.

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Well, it sounds like prioritizing,

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like Yeah.

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Yeah.

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Because you can't do do it

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all.

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Yeah.

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Yeah.

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And and I think so often it is

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just folks are.

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Putting all their time and energy into

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the wrong things.

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They're often getting the cart

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before the horse.

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You know, like it doesn't matter how

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good your lead gen is, if you don't

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know who your target audience

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is, if you don't have a good offer.

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Mm-hmm.

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Like a really good offer.

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Right.

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If you don't have good core

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messaging, if you don't know what

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your buyer's journey is, it doesn't

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matter how good your lead gen is.

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Mm-hmm.

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Like, you're just gonna piss 'em away.

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So like, Let's get those things

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in place first.

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Mm-hmm.

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Right.

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And we can start talking about lead

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gen and you probably already know

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everything you need to know about lead

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gen and it's not working because you

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haven't done all the other stuff first.

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Yeah, that is so true

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because everyone, you know, I find

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that a lot of.

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Business coaches are trying to

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turn us who aren't marketers.

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Into marketers.

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Yeah.

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And like I'm not a marketer.

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I will never be a marketer, you

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know, Hey, I know what I know.

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I don't know.

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And so I just need answers.

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For that.

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Yeah.

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And then I need to move on.

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I don't wanna become an expert marketer.

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And so, yeah, so just kind of getting

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to the basics and getting to like,

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so we can start implementing and

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executing on, right.

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Whatever the process will be is.

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So

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who should I have?

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Who should I have conversations with?

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What offer am I gonna make to them?

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How am I gonna frame that offer in a way

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that they go, oh my God, where have you

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been all my life?

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And.

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You know, like what does it take to

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get them to where they're ready to

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have a conversation?

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Mm-hmm.

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And, and it's just conversations.

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You don't need a fancy website.

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You don't need automation.

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You don't need any of that mess.

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Right.

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If you can talk to another human

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being, huh?

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You're good.

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Yeah, absolutely.

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I, I was talking to a colleague of mine

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who was starting a new business without

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a website and she was doing like, you

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know, cause she just hadn't gotten to it.

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Yeah.

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But she had all these contacts and

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her basically her business is putting

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people together.

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So like I couldn't talk to people.

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That's what I do, you know?

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And, uh, great sales without a website,

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which we now think is unthinkable.

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Right.

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Yeah.

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Yeah.

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One of the things that makes me insane

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is, I'll just make my little one IP

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little detour, is how focused people

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are on trademarks.

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Like the first thing people wanna talk

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about is trademarks.

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I'm like, who cares?

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Right?

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You have a solution cares.

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Oh, but I got this sexy logo.

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Man, I don't want anybody to

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take my logo.

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Exactly.

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Alright, whatever.

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Yes.

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Let's get to the basics.

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I love, I love that.

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Okay, so for our evolution

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of like having a framework and.

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Kind of productizing it mm-hmm.

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And using it as a lead generator,

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like what, how did that process

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look for you?

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Something that happened organically

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and you're just like, Ooh, but luck.

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Will it luck?

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Did someone help you formulate that?

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Um, did you use a lawyer for

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any part of it?

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How did that look for you?

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Um, yeah, so I, I it's definitely

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been, you know, an iterative process.

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I started selling it literally just

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one-on-one, like the people that I knew.

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I, I did a lot of, um, Speaking

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at one time.

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So, you know, when you're on a stage,

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like whoever's facing the back of

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the room is the, the, you know, the

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intelligent one.

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People just believe what

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you say when you stand on a stage.

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Mm-hmm.

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And, um, and so I would get up

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there and I'd talk about planning and

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people would come up to me afterwards

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and go, wow, I really wanna learn

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more about that.

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Let's have a conversation.

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Okay, great.

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We'd make the sale.

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And, and I'd work with them

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one-on-one.

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And, and so then I just started

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thinking like, you know, tired

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of traveling.

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And the one-on-one is okay, but I

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really wanna reach a broader audience.

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Mm-hmm.

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And so I just looked at, okay,

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what, what it, you know, what do I do

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with the individual people that works?

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What is the process that I

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take them through?

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Mm-hmm.

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And then looking at that and say,

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well, how would I take a group

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of people through this process?

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What would be different and how

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would I manage that?

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Um, that group and, and how much

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time do they need?

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Like when it's one-on-one, we just

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lock ourselves in a room for a day and

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we crank it out.

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Mm-hmm.

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But if you've got a hundred people,

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you can't get it done in one day.

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So, you know, I just started looking at

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like, okay, well what does it take?

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Do, how much time are, are people

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gonna need to take this idea that

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they've learned and, and get it

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done so we can go on to the next idea?

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Um, and a lot of it, quite honestly,

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was trial and error.

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Mm.

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Like, well, let's try it.

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How many people can I do in a one day?

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Well, I can deliver the content.

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I just can't deliver.

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I, I can't help everybody.

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Mm-hmm.

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And so, you know, then it, then I

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was like, well, let me just make it

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an online course.

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If I'm, if instead of me repeating

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myself all the time, let me just record

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everything, all the training, add a

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workbook to it, you know, traditional

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online course, and then it just

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becomes a marketing exercise, right?

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That's where you do turn into a

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marketer, right?

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And that's where I, I sort of got

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my marketing chops, was marketing

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my own stuff.

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And um, and then I realized like, You

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know, nobody's life changes from taking

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an online course.

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Mm-hmm.

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Because most of the time they don't

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finish it and it doesn't matter.

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Like, I tried every kind of thing I

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could think of to like, if somebody

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stopped moving forward to nudge

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them and, and I just couldn't get

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people to finish.

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And so, um, I thought, well,

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what if I just.

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Do it live.

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Like what if I just do the training

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live and answer the questions live and

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we'll do the work on the calls live

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and just stretch it out and how

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will that work?

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And that seems to be the, the magic

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formula right now.

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Mm-hmm.

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Yeah.

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Um, I, I just do it with, you know, a

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hundred, 150, 200 people at a time.

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That's a big cohort.

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Wow.

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It is.

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Um, and I, you know, I've got a co-coach

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that is on the call with me, so she's

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kind of running the back end in the chat

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and everything so I can just show up and

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do, um, and it works really, really well.

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Like people actually get stuffed done.

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It is super important

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to have that live component.

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It is just so

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important.

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It mm-hmm.

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It is.

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And, and I think it's just

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completely scalable.

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Like I was.

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Thinking about it the other day and

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um, I was like, well, how many

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people could we handle on a call

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like that might I, I'm like, we

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could do 500 and we could do 500

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with the team I have right now, so.

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Mm-hmm.

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Like, right.

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Let's see what that would look like.

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Mm-hmm.

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Well that is kind a daunting, I'll

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couple of things.

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One, you know, everyone kind of.

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Gets the

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need to the scale to go from

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the one-to-one model to the one

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to many model.

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Yeah.

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But they're not sure how it, it looks.

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But there are a couple of things

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that I think prevent them from

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making that leap.

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One is just, you know, I get paid,

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you know, More for the one-on-one

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stuff than I do for the one to many.

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Is it going to cannibalize my

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one-to-one work?

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How will those clients view me if

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I, so there's that, you know, the worry

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about cannibalizing kind of the premium

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work, let's call it.

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And then the other is, you know, how

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do I, if I have a relationship-based

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referral-based business, How do

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I grow an audience to be able to sell

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one

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to many?

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Yeah.

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Um, so the, the first question in

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my experience has been, um, that

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the one to many actually supports

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the one-on-one to one, one to one,

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and I end up with more one-to-one

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than I want.

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Mm-hmm Because of the w to many.

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Cuz what happens is they come into the

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w Toman environment and they go,

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mm, I need more.

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Right.

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I'm, I'm, I'm a bigger business.

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I, I I just need more.

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Can I talk to you about that?

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Do you do that?

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Mm-hmm.

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And so then we have the conversation and

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it goes, you know, from a thousand

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dollars sale to a $20,000 sale.

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Right.

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And, um, and it's like, okay, yeah.

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Can do that.

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Um, so rather

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than being a replacement,

Speaker:

it's more like a, another ladder on

Speaker:

the step of working More intense.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

I mean, it, it just, Again, like I bring

Speaker:

everybody in that one door, right?

Speaker:

And some of the folks that come

Speaker:

through that one door go, no, I need

Speaker:

a whole lot more.

Speaker:

Mm-hmm.

Speaker:

And then so we just have the

Speaker:

conversation and then we, we move

Speaker:

into the one-on-one.

Speaker:

And, um, so I think it, it actually

Speaker:

helps you to have one to many.

Speaker:

Mm-hmm.

Speaker:

The, the list piece.

Speaker:

Right.

Speaker:

You know, I mean, the.

Speaker:

Everybody's like, email's

Speaker:

dead, blah, blah, blah, blah, blah.

Speaker:

I've been hearing that for 15 years.

Speaker:

Um, it still works.

Speaker:

Um, and the, the beauty of email is

Speaker:

that it is an asset that you own, right?

Speaker:

You, you have these addresses

Speaker:

that you can use and yes, some of

Speaker:

'em are bad and blah, blah, blah.

Speaker:

But y you have people that you

Speaker:

can communicate with whenever

Speaker:

you want to.

Speaker:

Mm-hmm.

Speaker:

And.

Speaker:

And so growing that list I

Speaker:

think is really, really important.

Speaker:

Um, I'm not a, a giant fan of

Speaker:

building your business on somebody

Speaker:

else's platform.

Speaker:

Mm-hmm.

Speaker:

So like Facebook groups and LinkedIn

Speaker:

groups and blah, blah, blah, blah,

Speaker:

whatever the newest thing is.

Speaker:

Um, you know, doing TikTok videos

Speaker:

and, you know, I mean, just TikTok

Speaker:

recently, You know, states are

Speaker:

going, Hey, we're banning TikTok.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

Mm-hmm.

Speaker:

It's

Speaker:

a pretty big state.

Speaker:

Yeah.

Speaker:

Mm-hmm.

Speaker:

Yeah.

Speaker:

I don't know anybody that's

Speaker:

banning email.

Speaker:

Mm-hmm.

Speaker:

Mm-hmm.

Speaker:

Um, so I think it's, it's super

Speaker:

helpful to start building your list

Speaker:

and, and the easiest way I've found

Speaker:

to build a list is one to speak.

Speaker:

Mm-hmm.

Speaker:

Podcasts on stages at your

Speaker:

local chamber of Commerce, wherever

Speaker:

your people are.

Speaker:

Go speak and even if you don't get

Speaker:

paid to speak right away, get in front

Speaker:

of people and offer them something.

Speaker:

Mm-hmm.

Speaker:

Have a free, something that su

Speaker:

supplements the whatever you're

Speaker:

talking about.

Speaker:

And about 80% of your audience

Speaker:

will opt in.

Speaker:

Mm-hmm.

Speaker:

And so, you know, if you think about

Speaker:

that, okay, if I'm talking to 200

Speaker:

people, I got at least 150 new names.

Speaker:

To add to my email list.

Speaker:

And they're op, like they're on

Speaker:

their phone texting.

Speaker:

Mm-hmm.

Speaker:

The code.

Speaker:

Right.

Speaker:

And they're getting the stuff.

Speaker:

Mm-hmm.

Speaker:

And that, that's just a, a, a one

Speaker:

to many way to build a list.

Speaker:

Mm-hmm.

Speaker:

Now it's interesting what you mentioned

Speaker:

about TikTok and um, cuz I hadn't even

Speaker:

thought about, you know, cause we, you

Speaker:

know, pre the issues that we're having

Speaker:

in 2023, you know, we've been told

Speaker:

to make sure you own, you know, kind

Speaker:

of your audience.

Speaker:

And so you connecting, you're

Speaker:

collecting those emails even if

Speaker:

you don't have a list that you

Speaker:

have that a way to reach out to them.

Speaker:

But you know, the world is getting

Speaker:

more volatile, you know, with Yeah.

Speaker:

Issues like TikTok with, you know,

Speaker:

Twitter, I mean, people who had

Speaker:

massive Twitter.

Speaker:

Um, yeah.

Speaker:

And maybe that's, you know, the

Speaker:

less viable things that are going on

Speaker:

with, you know, uh, with Facebook.

Speaker:

And so you really are more

Speaker:

vulnerable than we ever have been

Speaker:

when we're trying to build Yeah.

Speaker:

You know, part, uh, any asset

Speaker:

on somebody else's platform.

Speaker:

Yeah, absolutely.

Speaker:

Yeah.

Speaker:

That that is,

Speaker:

uh, yeah, that is crazy.

Speaker:

There's a reason they call it rented

Speaker:

media, right?

Speaker:

Mm-hmm.

Speaker:

And, and if you're building on

Speaker:

rented land right.

Speaker:

Somebody can come along and take

Speaker:

your house whenever they feel like it.

Speaker:

Right?

Speaker:

Right.

Speaker:

They can change the algorithm.

Speaker:

I know like with Facebook

Speaker:

advertising, when Apple came in with

Speaker:

all the privacy restrictions mm-hmm.

Speaker:

It devastated.

Speaker:

Absolutely devastated

Speaker:

some folk.

Speaker:

Because their entire business was built

Speaker:

around Facebook advertising and

Speaker:

this data that they could no longer get.

Speaker:

Mm-hmm.

Speaker:

And it, they lost access to the data.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

So it used to be when you went

Speaker:

into, to set up Facebook ads, I

Speaker:

mean, you could set up, you could

Speaker:

build audiences by all sorts of stuff

Speaker:

you should not know about people.

Speaker:

Mm-hmm.

Speaker:

Uh, Uhhuh.

Speaker:

Mm-hmm.

Speaker:

And.

Speaker:

And when you would, when somebody would

Speaker:

opt in, um, through a, an Apple device

Speaker:

and, and certainly Windows devices

Speaker:

is as well, um, Facebook would

Speaker:

gather whatever information they

Speaker:

could from that device and learn

Speaker:

all sorts of stuff about you.

Speaker:

Mm-hmm.

Speaker:

Right?

Speaker:

That, that they could then resell

Speaker:

to advertisers.

Speaker:

Oh, and Apple put the kibosh on that.

Speaker:

And so, you know, now suddenly

Speaker:

Facebook is going well.

Speaker:

Um, we don't know as much as we

Speaker:

thought we did, and the stuff that

Speaker:

we do know we're not allowed to

Speaker:

tell you anymore.

Speaker:

And so mm-hmm.

Speaker:

It really wrecked a lot of people's

Speaker:

businesses.

Speaker:

Mm-hmm.

Speaker:

Um, and so I, I am a big fan of having

Speaker:

multiple streams of lead generation.

Speaker:

Mm-hmm.

Speaker:

Um, and, and, you know, build some

Speaker:

on the socials.

Speaker:

Um, just don't.

Speaker:

Make it everything, right.

Speaker:

Builds up, you know, builds

Speaker:

stuff on stages.

Speaker:

But has the pandemic taught us?

Speaker:

Stages change.

Speaker:

Stages change.

Speaker:

Yes, absolutely.

Speaker:

Again, like I know lots of people who

Speaker:

were stage speakers whose businesses

Speaker:

disappeared overnight.

Speaker:

Mm-hmm.

Speaker:

I have a, a colleague who had

Speaker:

a $700,000 business just disappeared

Speaker:

overnight.

Speaker:

Mm-hmm.

Speaker:

That was the entirety of his

Speaker:

business was live.

Speaker:

Doing live.

Speaker:

Yeah.

Speaker:

It just

Speaker:

went away.

Speaker:

Mm-hmm.

Speaker:

Um, pivoted pretty quickly, right?

Speaker:

Mm-hmm.

Speaker:

Mm-hmm.

Speaker:

But, um, So just lessons learned

Speaker:

and, and having watched a lot of

Speaker:

people get in big trouble, you know,

Speaker:

it's you diversify your assets.

Speaker:

Mm-hmm.

Speaker:

List, building your email list is an

Speaker:

asset diversify.

Speaker:

Absolutely.

Speaker:

Well, speaking of assets, I mean,

Speaker:

with your simple success plan, is it

Speaker:

registered in the copyright office?

Speaker:

Does it have a trademark?

Speaker:

How does, how, how does it,

Speaker:

you, you deal with the IP part

Speaker:

of that?

Speaker:

Um, yes.

Speaker:

So I, um, the Simple Success Plan

Speaker:

is a registered trademark.

Speaker:

Mm-hmm.

Speaker:

Um, I have the paper around

Speaker:

here somewhere.

Speaker:

I can look it up.

Speaker:

Um, yes, I used an attorney,

Speaker:

I'm clapping.

Speaker:

Yeah.

Speaker:

Cuz I didn't wanna deal with that crap.

Speaker:

Like, I just don't wanna deal

Speaker:

with that crap.

Speaker:

You definitely, yeah.

Speaker:

And, and, and I've been on the, the

Speaker:

other side of things like the, originally

Speaker:

the simple success plan was called,

Speaker:

um, the one page strategic plan.

Speaker:

Mm.

Speaker:

How turns trouble there?

Speaker:

Somebody owns, somebody has

Speaker:

a trademark on the one page.

Speaker:

Mm-hmm.

Speaker:

For like a ridiculous

Speaker:

number of codes.

Speaker:

Yes.

Speaker:

Mm-hmm.

Speaker:

Right?

Speaker:

And so he sent me a very nice

Speaker:

email and said, Hey, I own that.

Speaker:

Was it nice?

Speaker:

It was okay.

Speaker:

It was nice.

Speaker:

And we had a conversation and,

Speaker:

and, um, and I've, I've been on that.

Speaker:

Like I, I had a business, um, A

Speaker:

little side business and I got an email

Speaker:

from, or I got a letter from Media

Speaker:

General, uh, the attorneys for Media

Speaker:

General, letting me know in no uncertain

Speaker:

terms that they own the trademark for

Speaker:

the term Virginia business when it

Speaker:

comes to any sort of publication.

Speaker:

That is shocking

Speaker:

to me what people were able to get

Speaker:

trademarks for.

Speaker:

Yes.

Speaker:

I mean, like you could never today,

Speaker:

but there was a time and you get Yeah.

Speaker:

And I'm like, well, I'm not gonna

Speaker:

win this battle.

Speaker:

So change the name, right?

Speaker:

Mm-hmm.

Speaker:

Yeah.

Speaker:

Change business.

Speaker:

Wow.

Speaker:

I was curious about the Weather Channel

Speaker:

when I said, I'm like, when I noticed

Speaker:

I, how do you get a trademark on

Speaker:

the other channel?

Speaker:

You know?

Speaker:

Well, Intel owns pretty much it.

Speaker:

It any word.

Speaker:

Followed by inside.

Speaker:

Um, have a, have a friend who,

Speaker:

uh, started a business called,

Speaker:

um, brand Inside.

Speaker:

And they were, they do, uh, branding,

Speaker:

but they do like internal branding

Speaker:

and employee development

Speaker:

and stuff.

Speaker:

Mm-hmm.

Speaker:

And Intel sent them a very strongly

Speaker:

worded letter letting them

Speaker:

know that they were in violation

Speaker:

of their trade.

Speaker:

And I'm like, wait a minute, wait

Speaker:

a minute, wait.

Speaker:

They make.

Speaker:

Chips, and this is a service

Speaker:

marketing company, what the hell?

Speaker:

And Intel was like, no, we own

Speaker:

all that shit.

Speaker:

Wow.

Speaker:

So, yeah.

Speaker:

Crazy.

Speaker:

Right?

Speaker:

That is crazy.

Speaker:

Well, I mean, you know, I guess it

Speaker:

falls into the super trademark category

Speaker:

of things, like anything that's

Speaker:

even associated with these like massive,

Speaker:

uh, trademarks.

Speaker:

Yeah, kind of.

Speaker:

They just gobble everything up, which

Speaker:

is pretty obnoxious, but you know.

Speaker:

This is what it is.

Speaker:

Exactly.

Speaker:

So, but

Speaker:

I want to, you know, kind of go back

Speaker:

to the point like, you know, if you'd

Speaker:

not been able to get Simple success

Speaker:

plan, you couldn't get the first

Speaker:

one you wanted.

Speaker:

I mean, there's another one.

Speaker:

At the end of the day, the value and

Speaker:

the trademark is the transformation

Speaker:

that you provide.

Speaker:

And you can exactly whatever name you

Speaker:

want on there, you know, who cares

Speaker:

what it's called.

Speaker:

Yeah, it is.

Speaker:

Yes, exactly.

Speaker:

Exactly.

Speaker:

But once you do have, you're

Speaker:

known for that transformation,

Speaker:

you do wanna make sure that.

Speaker:

Everyone knows that's yours, and

Speaker:

therefore that's why you want

Speaker:

that trademark.

Speaker:

So they know it's your, your idea,

Speaker:

but we should not like let the

Speaker:

tail wag the dog.

Speaker:

Is that what it's Yeah.

Speaker:

That we, uh, gotta

Speaker:

have, well, it gets into that, you

Speaker:

know, getting bogged down in minutia

Speaker:

that isn't growing your business.

Speaker:

Mm-hmm.

Speaker:

Right?

Speaker:

Mm-hmm.

Speaker:

Right.

Speaker:

Like I see folks are like just obsessed

Speaker:

about their website.

Speaker:

Mm-hmm.

Speaker:

You know, and they're spending

Speaker:

hours and hours and hours and I'm

Speaker:

like, You don't have any traffic,

Speaker:

like nobody's gonna see it.

Speaker:

Like just exactly right.

Speaker:

Put up a nice looking page.

Speaker:

Got some info on it.

Speaker:

You can add more later.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

It's a website.

Speaker:

Yeah.

Speaker:

I'm sure we've all been guilty

Speaker:

of that for sure.

Speaker:

Oh yeah.

Speaker:

I've, I've, like, these are all

Speaker:

lessons, like when I say, God, it

Speaker:

drives me crazy when people do this.

Speaker:

It's because I've done it.

Speaker:

Mm-hmm.

Speaker:

Right?

Speaker:

And, and I've learned not to do

Speaker:

it because I've watched it fail.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

Well, we are about halfway through,

Speaker:

gosh, we are halfway through 2023, so I

Speaker:

don't know how that happened exactly.

Speaker:

Insane, insane.

Speaker:

Uh, but what, what new

Speaker:

happened in 2023?

Speaker:

I used to ask, you know, what do we

Speaker:

see ahead for 2023?

Speaker:

But now I'm gonna have to say, ask,

Speaker:

you know, what, what kind of changes

Speaker:

happened in 2023 as we were coming out

Speaker:

of the pandemic?

Speaker:

And, you know, People quiet,

Speaker:

quitting, and, you know, all kind

Speaker:

of gig economy.

Speaker:

Like what, what's going on?

Speaker:

I think it's the rise of ai.

Speaker:

Mm-hmm.

Speaker:

Like, that's what I'm seeing mm-hmm.

Speaker:

Uh, in the world.

Speaker:

I, I, I hear so many folks going, oh, I

Speaker:

need to learn ai.

Speaker:

And I'm like, do you even know what it

Speaker:

is or what it does?

Speaker:

Like you just, you've heard

Speaker:

you need to learn it and.

Speaker:

And I keep, you know, people that

Speaker:

are like, oh, it can write all your

Speaker:

copy, it can do all your copywriting, it

Speaker:

can do all of this, it can do this,

Speaker:

it could do this.

Speaker:

It, it's like, it's gonna work all

Speaker:

this magic for you.

Speaker:

And I'm like, well, yeah, it does a lot

Speaker:

of stuff, but you still gotta have

Speaker:

the right prompts.

Speaker:

And like, there's work that goes

Speaker:

into it and, and I think there's still

Speaker:

just no substitute for humans getting

Speaker:

together even on Zoom talking.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

AI does not have a personality.

Speaker:

AI has no eq, AI can't read the room.

Speaker:

Yeah.

Speaker:

And it's like, oh, we can, we can do

Speaker:

a, you know, I can do a promotional

Speaker:

video using ai.

Speaker:

I don't know how to do it.

Speaker:

But somebody could do that.

Speaker:

I could say, I need a video

Speaker:

though of me.

Speaker:

Mm-hmm.

Speaker:

Fake me, right.

Speaker:

Talking about this.

Speaker:

Mm-hmm.

Speaker:

You know, and, and I could get

Speaker:

AI to write the script and da da,

Speaker:

da, da, but it's gonna suck, right?

Speaker:

Mm-hmm.

Speaker:

You know, or I could just sit down and

Speaker:

record a video and talk about what I

Speaker:

need to talk about.

Speaker:

Mm-hmm.

Speaker:

And let people see the real human,

Speaker:

you know, who makes mistakes and, you

Speaker:

know, that has, doesn't do hair and

Speaker:

makeup, and is just like, you know,

Speaker:

a normal person.

Speaker:

Right.

Speaker:

Yeah.

Speaker:

At the end of the day, like if what

Speaker:

you do is something that someone

Speaker:

could, you know, uh, six months ago

Speaker:

could have gone on Google and figured

Speaker:

out without you, then you're in

Speaker:

the same position like you need you.

Speaker:

Right.

Speaker:

That's not where you should be.

Speaker:

Right.

Speaker:

If you're an expert, yeah.

Speaker:

It shouldn't be just.

Speaker:

Out there for somebody else to

Speaker:

like kind of sift through, uh, a

Speaker:

database and come up with whatever it is

Speaker:

that you do that's special for Right.

Speaker:

Getting delivered to your clients.

Speaker:

That's still, that's still is necessary

Speaker:

to differentiate, differentiate you

Speaker:

from everybody else.

Speaker:

It's, and it, it's crazy.

Speaker:

I mean, they, the things that I see

Speaker:

people building as businesses and

Speaker:

I'm just like, I'm pretty sure

Speaker:

a machine does that already.

Speaker:

Mm-hmm.

Speaker:

Like how are you doing it differently

Speaker:

than the machine?

Speaker:

Like, you know, I love my accountant.

Speaker:

I adore my accountant.

Speaker:

Fabulous person, right?

Speaker:

But my accountant doesn't give me

Speaker:

tax strategies.

Speaker:

She just takes all the junk eye giver

Speaker:

and puts all the numbers in the right

Speaker:

boxes and makes things balanced.

Speaker:

Cuz I don't really care

Speaker:

about doing that.

Speaker:

Right.

Speaker:

Right.

Speaker:

Like I'm pretty sure a machine can

Speaker:

do that because there's software out

Speaker:

there that doesn't.

Speaker:

Well,

Speaker:

they haven't.

Speaker:

Yes.

Speaker:

She

Speaker:

just takes my junk and puts it

Speaker:

into this software that she uses.

Speaker:

Right?

Speaker:

Mm-hmm.

Speaker:

Right.

Speaker:

You know, so I'm like, Hey, how long

Speaker:

is that gonna be?

Speaker:

Like a

Speaker:

job.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

If you're not providing some type

Speaker:

of strategic advice behind that, you're

Speaker:

not able to like say, okay, Laura,

Speaker:

what do you want, you know, retirement

Speaker:

to look like.

Speaker:

Let's figure out, you know, and,

Speaker:

and, or, you know, lifestyle issues and

Speaker:

how do you finance them and how, you

Speaker:

know, it has to be something other than

Speaker:

just the numbers.

Speaker:

Yeah.

Speaker:

Or, you know, if you are a writer, it has

Speaker:

to be something more than just, you know,

Speaker:

Putting together some webpages.

Speaker:

It has to be something

Speaker:

unique.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

I mean, it, AI can write your book

Speaker:

report for you.

Speaker:

Yeah.

Speaker:

Because mm-hmm.

Speaker:

It book report isn't necessarily your

Speaker:

opinion, right?

Speaker:

Mm-hmm.

Speaker:

Right.

Speaker:

Um, and AI's gonna be better

Speaker:

at the research, so if you're just

Speaker:

putting out facts and regurgitating

Speaker:

stuff, other people have said mm-hmm.

Speaker:

Yeah.

Speaker:

AI's gonna eat your lunch, but, yep.

Speaker:

Yep.

Speaker:

If you actually have an opinion

Speaker:

and, and a strategy and a, a viewpoint,

Speaker:

a framework, yes.

Speaker:

All those things.

Speaker:

Love that.

Speaker:

All right.

Speaker:

So as you know, this is the Hourly

Speaker:

to Exit podcast where I encourage

Speaker:

female founders of expertise-based

Speaker:

businesses to build a business that

Speaker:

they can hopefully sell someday.

Speaker:

So, As the female founder of an

Speaker:

expertise based business, do you

Speaker:

have plans to sell your business?

Speaker:

What's the next chapter for

Speaker:

your business?

Speaker:

Yeah, so I actually have somebody who

Speaker:

wants to buy it, and I just keep mm-hmm.

Speaker:

Um, pushing him away because I wanna get

Speaker:

the valuation up.

Speaker:

Mm-hmm.

Speaker:

Significantly higher.

Speaker:

Mm-hmm.

Speaker:

I also have, um, a colleague who

Speaker:

would be like the perfect fit to.

Speaker:

To take it over.

Speaker:

Mm-hmm.

Speaker:

And, um, so we're just starting

Speaker:

to have some discussions.

Speaker:

I'm not anywhere close to

Speaker:

ready to go.

Speaker:

I'm just having way too much fun.

Speaker:

And

Speaker:

so, um, that's the beauty of building

Speaker:

a business that you love, like

Speaker:

you, there's no urgency to Yeah.

Speaker:

Yeah.

Speaker:

I mean, it, I, I've, I've built it to

Speaker:

suit my lifestyle.

Speaker:

Mm-hmm.

Speaker:

And so I work really hard in the winter.

Speaker:

And then I take summers off and

Speaker:

the rest of the time I work about

Speaker:

three days a week.

Speaker:

And that like totally suits me.

Speaker:

Mm-hmm.

Speaker:

And I, I mean, gosh, I love the income.

Speaker:

Mm-hmm.

Speaker:

Yeah.

Speaker:

Um, like it's just nothing like

Speaker:

getting the check that, right.

Speaker:

So every two weeks it's like,

Speaker:

whoa, look.

Speaker:

So

Speaker:

when you talk about increasing the,

Speaker:

the valuation, like is there something

Speaker:

specifically that you're

Speaker:

working on to,

Speaker:

to help do that?

Speaker:

Yeah.

Speaker:

So, you know, it's always

Speaker:

about replacing yourself, right?

Speaker:

Mm-hmm.

Speaker:

People, people wanna buy your cash flow,

Speaker:

they don't wanna buy your ip, and

Speaker:

so it's creating the machine that

Speaker:

anybody can run.

Speaker:

Mm-hmm.

Speaker:

Right?

Speaker:

And, and the like the guy that,

Speaker:

that wants it, he's got other

Speaker:

properties and other lists and other.

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Experts who do different things,

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he just doesn't have this piece.

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Mm-hmm.

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And so it, it, it's a nice addition

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to his puzzle.

Speaker:

Mm-hmm.

Speaker:

Gotcha.

Speaker:

Um, and, and so, you know, he'll just

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market my stuff to all of his other

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lists and market all of his other

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stuff to my list.

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Um, and because everything can

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be delivered, you know, in a pretty

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turnkey manner or it's mm-hmm.

Speaker:

Um, so it.

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And obviously he can replace me

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for less than what I cost, right?

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Mm-hmm.

Speaker:

Right.

Speaker:

Um, so it'll throw off a pretty

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good amount of cash, but yeah.

Speaker:

We know that

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revenue generator is your ip, right?

Speaker:

Yes, it is.

Speaker:

It is

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it.

Speaker:

No, I totally get that.

Speaker:

It's the, the thing is though, like, I,

Speaker:

so just for as an example, I have a,

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a, a good friend, colleague who is

Speaker:

the most magnificent IP I've ever seen.

Speaker:

I mean it is.

Speaker:

So her frameworks are beautiful.

Speaker:

Her books, I mean, big corporate

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clients, like the whole nine yards,

Speaker:

but she never built anything

Speaker:

outside of herself.

Speaker:

Mm-hmm.

Speaker:

Other than the ip.

Speaker:

And she tried for probably four

Speaker:

or five years to sell the ip.

Speaker:

Mm-hmm.

Speaker:

And could not get a buyer.

Speaker:

Yeah.

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Um,

Speaker:

Yeah, it's not, we don't, we don't

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create IP like, just cuz it's

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pretty Right.

Speaker:

It is the leverage that we

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get out of it.

Speaker:

Like how we Yes.

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Deploy it.

Speaker:

That is where the Exactly.

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Yes.

Speaker:

Yes, exactly.

Speaker:

And she just never trained anybody to

Speaker:

do what she does.

Speaker:

Mm-hmm.

Speaker:

Mm-hmm.

Speaker:

And so she was going to, she was

Speaker:

trying and, and people just said,

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well, you know,

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We'll just wait for you retire

Speaker:

and then we'll just go get it.

Speaker:

Like, you know?

Speaker:

Right.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

So I, I didn't mean that as a slam dunk.

Speaker:

Yeah, no, no, it's okay.

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Be where I wouldn't be where

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I am without all of my ip.

Speaker:

Right.

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I mean, that, that's what's

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gotten me here.

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I mean, so

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that's, that's how we get out of

Speaker:

this selling our time business is

Speaker:

by creating these things that Yes.

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And.

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Exactly.

Speaker:

Generate revenue without us.

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Yes.

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All right.

Speaker:

Yes.

Speaker:

That's, that's the key is the

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generate revenue.

Speaker:

People wanna buy your cash flow,

Speaker:

and if you are a hundred percent

Speaker:

responsible for your cash flow, there's,

Speaker:

when you retire, there's, there's

Speaker:

no cash flow.

Speaker:

Exactly, exactly.

Speaker:

Unless you become employee machine.

Speaker:

Yeah.

Speaker:

Yes.

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All right.

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So, uh, we.

Speaker:

You know, one of our missions here is to

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create more wealth in the hands of

Speaker:

women to create an economy that works

Speaker:

for more of us.

Speaker:

And so I love to introduce

Speaker:

the audience to organizations who

Speaker:

are doing great work in that area.

Speaker:

Is there one that you'd like to share

Speaker:

with the audience?

Speaker:

Yeah.

Speaker:

There's a, a group here in Richmond

Speaker:

called Safe Harbor, and they help women

Speaker:

who are in abusive relationships.

Speaker:

Safely get out with their kids.

Speaker:

Um, they help set them up in new

Speaker:

careers, new houses, um, absolutely

Speaker:

everything they need.

Speaker:

Mm-hmm.

Speaker:

Um, they take care of all the legal

Speaker:

work as well to make sure that they,

Speaker:

they have all the protections that

Speaker:

they need and, um, they're just

Speaker:

great organization.

Speaker:

Love it.

Speaker:

Thank you.

Speaker:

So we'll have that in the show

Speaker:

notes so everyone can find them and

Speaker:

support their work.

Speaker:

And so I know you have an offer as

Speaker:

well, some goodies that you'd like

Speaker:

to share with the audience as well.

Speaker:

Yes.

Speaker:

Yeah, I, uh, I'm a big fan of

Speaker:

giving people for yourself because

Speaker:

it, it's useful, so.

Speaker:

Mm-hmm.

Speaker:

Um, I have a, it's a single

Speaker:

sheet of paper.

Speaker:

It's called the Daily Success

Speaker:

Checklist.

Speaker:

And you do like fill it out every single

Speaker:

day, and it keeps you focused on your

Speaker:

long-term goals, keeps you focused

Speaker:

on your projects that you're working

Speaker:

on right now.

Speaker:

Keeps you focused on the things that

Speaker:

make you a healthy, whole human being

Speaker:

and it keeps you focused on the most

Speaker:

important tasks that you need to

Speaker:

get done each day.

Speaker:

And then it helps you end the day with

Speaker:

a reflection so that when you finish that

Speaker:

piece, you are done with work for the

Speaker:

day, whether that's at 10 o'clock in

Speaker:

the morning or six o'clock at night.

Speaker:

Mm-hmm.

Speaker:

And you can walk away knowing that

Speaker:

you have done everything that

Speaker:

you needed to do today to move

Speaker:

things forward.

Speaker:

It's settled.

Speaker:

You can go leave, work and be a

Speaker:

whole human being.

Speaker:

You can be present with your family.

Speaker:

You can be present in your life and not

Speaker:

be thinking about work all the time

Speaker:

and not wake up

Speaker:

in the 3:00 AM Not that that ever

Speaker:

happens to me.

Speaker:

Yeah,

Speaker:

yeah.

Speaker:

No, it, it, it, it's a, it's a such

Speaker:

a fabulous tool for just looking

Speaker:

at it cuz it, it.

Speaker:

It's one sheet of paper, like,

Speaker:

it's like this is what I can get

Speaker:

accomplished today.

Speaker:

Mm-hmm.

Speaker:

And so you do exactly what you

Speaker:

are capable of doing that day.

Speaker:

And then you're done.

Speaker:

Mm-hmm.

Speaker:

And so there's not this endless list

Speaker:

that's haunting you and hanging over

Speaker:

your, your head and it's always

Speaker:

keeping you focused on the important

Speaker:

things mm-hmm.

Speaker:

That are really driving the

Speaker:

business forward.

Speaker:

And there's room in there for

Speaker:

all the little petty stuff that

Speaker:

has to get done.

Speaker:

Cuz let's face it, there's little

Speaker:

petty stuff that has to get done.

Speaker:

Okay.

Speaker:

Um, But it's my number one tool

Speaker:

for focusing in getting stuff done.

Speaker:

And so you can just hop over

Speaker:

to the website.

Speaker:

It's simple success plans.com/daily.

Speaker:

Great.

Speaker:

And download it.

Speaker:

And there's a whole A tutorial video

Speaker:

and downloads and fillable versions

Speaker:

and printable versions and all.

Speaker:

Fantastic.

Speaker:

Well I need one of those cuz I

Speaker:

do have some of those 3:00 AM

Speaker:

moments too often.

Speaker:

So Yeah, and I'll get,

Speaker:

we'll get you with, get you Outta

Speaker:

those, fix me up.

Speaker:

So we will have the, uh, links to

Speaker:

all of those in the show notes as well.

Speaker:

Where else can people find

Speaker:

you?

Speaker:

Um, easiest places to just hit me

Speaker:

up on my website.

Speaker:

I mean, you can find me on Facebook.

Speaker:

Mm-hmm.

Speaker:

Um, I.

Speaker:

I have LinkedIn profile.

Speaker:

I never hang out there.

Speaker:

I hang out on Facebook.

Speaker:

Um, I'm not an Insta gal.

Speaker:

Mm-hmm.

Speaker:

Again, like I have a profile, I

Speaker:

don't do anything.

Speaker:

Right.

Speaker:

Um, so yeah, hit me up on

Speaker:

Facebook, hit me up on the website.

Speaker:

Um, you can just shoot me an email

Speaker:

and, uh, ask me questions.

Speaker:

I love to talk about business and

Speaker:

meet new people.

Speaker:

Fantastic.

Speaker:

Well, thank you so much, Laura.

Speaker:

You've been tremendously

Speaker:

generous and I know everyone wanna

Speaker:

follow up with you with those very

Speaker:

helpful resources.

Speaker:

Thank you.

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About your host

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Erin Austin

Meet Erin Austin, a Harvard Law alum with over 25 years of copyright and contracts experience. As the go-to advisor for professionals with corporate clients, Erin empowers entrepreneurs to be their own advocates, standing out for her commitment to transforming expertise into empires through the creation, protection and leveraging of intellectual property assets. Explore her blend of legal expertise and entrepreneurial insight on ThinkBeyondIP.com and the "Hourly to Exit" podcast. Off the clock, you'll find Erin in the great outdoors or connecting with business coaches to elevate 6-figure consultants into 7-figure powerhouses.