"Why Do I Start From Zero Every Month?" — Transcript

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1. 0:00Um, I do about $12 million a year.
2. 0:02>> Amazing.
3. 0:02>> I coach real estate agents. Um, I teach
4. 0:05them social media marketing and sales.
5. 0:07And my biggest constraint, well, I'm at
6. 0:10the $12 million I want to get to like
7. 0:1136. Um, and I think it could easily be
8. 0:14done, but not so sure with my avatar.
9. 0:15>> Okay.
10. 0:16>> Um, I think my biggest constraint is I'm
11. 0:18kind of like at a point where I'm ready
12. 0:20to sort of venture past just real estate
13. 0:22agents.
14. 0:22>> Mhm.
15. 0:23>> And but I'm not exactly sure, you know,
16. 0:26what I should be doing and who I should
17. 0:27be going after.
18. 0:28Um,
19. 0:29I love to high ticket sales. So, we do
20. 0:31our average about a million dollars a
21. 0:32month through selling high ticket
22. 0:35through a 3D virtual event. I've done it
23. 0:365 years in a row every single month. Um,
24. 0:39and
25. 0:40so I don't I'm just kind of this is more
26. 0:41of a counseling session right now with
27. 0:43me.
28. 0:43>> I mean, right? Every month she does an
29. 0:45event she still makes money. Isn't that
30. 0:46wild?
31. 0:47Damn, she's making a million a month in
32. 0:49virtual events.
33. 0:52>> [laughter]
34. 0:53>> Real, Brazilian dollars. You know, but
35. 0:56uh
36. 0:57um
37. 0:58Okay. So,
38. 1:01you want to do more. Um,
39. 1:03my wager is that like you could
40. 1:05absolutely have a hundred million dollar
41. 1:07plus business in real estate. The issue
42. 1:09is that there's no revenue retention.
43. 1:11That's right. Like you know how to
44. 1:12market and sell. No question. You're
45. 1:14great at it. Great on camera. You can
46. 1:16pitch. You can do events. Like you have
47. 1:17all the promotion skills. You just don't
48. 1:19have a thing that that keeps people. And
49. 1:22so like if you think about how many
50. 1:24people you've sold over the last 5
51. 1:25years, like if you had half of those
52. 1:28people still paying you $2,000 a year,
53. 1:30the business would be 40, 50 million
54. 1:31dollars a year right now, right?
55. 1:33Somewhere in that neighborhood?
56. 1:33>> Totally, yeah.
57. 1:34>> Right? And so the issue is like if I
58. 1:36could go back in time and redo Jim
59. 1:38Launch, I would have focused 100% on
60. 1:41revenue retention and just basically
61. 1:42disregarded everything else until I
62. 1:43solved that. Because the thing is is
63. 1:45kind of like we were talking about
64. 1:46earlier with the the levers for
65. 1:48monetization, your ability to blow
66. 1:50something up will always be there.
67. 1:51You're always you're going to like you
68. 1:52have enough skills, you have enough
69. 1:53network, you have enough money that you
70. 1:55you be able to even if things change,
71. 1:56you'll figure it out. I'm not worried
72. 1:57about that. And so, like the one like
73. 1:59the deficiency for skills that you have
74. 2:01right now is around finding uh service
75. 2:04and or product that people don't cancel
76. 2:06from. And if you can just do that,
77. 2:09that's the thing that will get you to 50
78. 2:11100 plus.
79. 2:12Like that's it.
80. 2:13>> So, what is it?
81. 2:14>> Well, the thing in real estate is that
82. 2:15like I'm surprised that you never did
83. 2:17like your own brokerage because your
84. 2:19ability to
85. 2:20>> I do. I have EXP and I'm like I'm like
86. 2:22top 1% with EXP, you know, but
87. 2:25>> Well, doesn't that keep compounding?
88. 2:27>> Yeah, yeah. I mean, I'll it's doing
89. 2:28really well.
90. 2:29>> No, but like every year does Well, when
91. 2:30did you start doing it?
92. 2:31>> Uh
93. 2:33about 5 years ago or something.
94. 2:34>> Okay, so you started 5 years ago. Then
95. 2:35what passive you're getting from EXP or
96. 2:37X whatever it is compared to
97. 2:39>> 20 grand a month, but it's like passive.
98. 2:40I don't do any like I zero zero time on
99. 2:42it.
100. 2:43>> Well,
101. 2:44>> it used to be about 50, but with the
102. 2:46real estate market changing, it's like
103. 2:47>> Yeah.
104. 2:48Um no, I mean like
105. 2:51I mean, they have the rev share model
106. 2:52kind of
107. 2:53>> You know, I don't love real like I think
108. 2:55the thing is is like I feel like I'm
109. 2:56over real estate. You know, they're just
110. 2:58a I love them so if this is on camera,
111. 3:00don't tell anybody, but I love realtors.
112. 3:02They're amazing and I always want to
113. 3:03help them when I can cuz
114. 3:04>> Yeah, forever and always cuz they're
115. 3:05great.
116. 3:06>> But I mean, I do the event
117. 3:08>> up from real estate and then like I'm
118. 3:09always grateful.
119. 3:10>> It's kind of like when you were at gym
120. 3:11launch, right? It's like now with you, I
121. 3:12can my virtual events, I'm not even
122. 3:14there. So, they run 5 months and I'm not
123. 3:16even in a minute. It's recorded. You
124. 3:17can't even you know, you won't wouldn't
125. 3:19know it, but so I can I can actually do
126. 3:21something different and and have the
127. 3:23time and energy you know, I just
128. 3:25>> How many hours a week are you spending
129. 3:26on the business?
130. 3:28>> I'm I'm kind of a workaholic, but I love
131. 3:29it like I you know, I [snorts] just but
132. 3:30I only because I want to cuz I really
133. 3:32enjoy it. So,
134. 3:33>> Can I give you a challenge?
135. 3:34>> Yes, I stop work at 5:00 every day.
136. 3:36>> Okay. Can you stop work at 9:00 a.m.?
137. 3:40>> No, I wouldn't want to. I No.
138. 3:41>> Well, I want to challenge you to do it
139. 3:42because I think that you are you have so
140. 3:45much activity level like you have high
141. 3:46activity like everyone here would
142. 3:47probably say that you have high activity
143. 3:48just from like hearing you talk. Um no,
144. 3:51it's a compliment. Um
145. 3:55you probably do so much in your business
146. 3:56that you're not even aware of.
147. 4:00And so, I think that like the challenge
148. 4:02for you is like
149. 4:03it's very easy to say that'll just run
150. 4:05and it'll be fine. I want to start this
151. 4:06other thing.
152. 4:07But, it it'll it's the same conversation
153. 4:09we had earlier. Like, it won't be fine
154. 4:11cuz there's so many tiny things that you
155. 4:12do because you have so you're so fast in
156. 4:14your activity that like you don't even
157. 4:16notice it. You're like, "Oh, yeah. Quick
158. 4:17decision there. Quick decision." And
159. 4:18it's like it wasn't even a thing. Like,
160. 4:19you don't even realize the work that
161. 4:21you're doing. And so, I would I'm like
162. 4:23gung-ho. I'm totally fine on Kristen May
163. 4:25Shore open, you know, starting the
164. 4:26Kristen May Shore brand and
165. 4:28doing whatever you want to do on that
166. 4:29side. If you want to go mass market cuz
167. 4:31that's like where your heart's pulling
168. 4:32you, fine.
169. 4:33But,
170. 4:35the challenge would still be like
171. 4:37this thing has to truly run without you.
172. 4:40And so, the test is like can you spend a
173. 4:41month not doing anything and have it
174. 4:43still keep making money?
175. 4:45And you're doing one event a month. So,
176. 4:46it's like maybe you have to do like
177. 4:48three or four months to prove that out
178. 4:50that it actually works. Like, my
179. 4:51preference is six.
180. 4:53Which I think you'll like pull your hair
181. 4:54out and you're like, "I like my hair."
182. 4:55And you know, it'll be a whole thing.
183. 4:56Right? Um,
184. 4:57but I think like find a hobby that you
185. 4:59can do for six months and you will find
186. 5:01all the holes in the existing business
187. 5:02that could potentially enable you to do
188. 5:04the other thing if you so chose.
189. 5:06Otherwise, like this business will
190. 5:08eventually decay because you the star
191. 5:10power won't be there.
192. 5:11Um,
193. 5:12and the new thing will start paying for
194. 5:14the old thing and then it'll be this big
195. 5:15mess of like this team is being used
196. 5:17over here, too. I'm splitting resources
197. 5:19cuz I don't want to start hiring all
198. 5:21these other people cuz it's pre-revenue,
199. 5:22blah blah blah blah blah.
200. 5:23>> I guess I just want something I love
201. 5:25more, you know? Like, I my you know, you
202. 5:26hate the word mindset, but I love the
203. 5:27word mindset. And it's like I I just
204. 5:29just more motivation and inspiration and
205. 5:31that kind of thing. But, it you know,
206. 5:32that's not where the money is because
207. 5:34you have to give them what they want and
208. 5:35sell them what they need kind of a
209. 5:36thing, right? So, I sort of get to do
210. 5:38that through real estate, but I'm I'm
211. 5:39capped.
212. 5:40And I would just like I want to do
213. 5:42bigger.
214. 5:42>> You're capped with money or you're
215. 5:44capped
216. 5:44>> with not with money. I mean, I could
217. 5:45quit right now and not like even
218. 5:47>> I'm saying the business is capped
219. 5:48money-wise.
220. 5:49>> Uh no, we could still I mean, we're not
221. 5:51as profitable as as we were.
222. 5:52>> Well, you said you wanted to get to 30
223. 5:53something.
224. 5:54>> Yeah, I want to get to
225. 5:55>> that within your existing opportunity.
226. 5:58For sure.
227. 5:59>> For sure.
228. 6:00There's a million
229. 6:01>> how broke they were. Like, the first
230. 6:02thing you said earlier was like, "Yeah,
231. 6:03>> They are broke, totally. But, they're
232. 6:04still billion-dollar plus companies in
233. 6:06real estate.
234. 6:07>> Yeah.
235. 6:08>> Tons. So, when I said brokerage, I
236. 6:10didn't mean you affiliating someone
237. 6:11else's brokerage and having a rev share
238. 6:12agreement, you owning a brokerage.
239. 6:15>> I think I can do that.
240. 6:16>> Okay. That's fine. But, I'm still like,
241. 6:18that's where like the machine that
242. 6:19you're so good at is attracting
243. 6:21realtors. And so, like, what machine
244. 6:23best monetizes the attraction of
245. 6:24realtors?
246. 6:25And so, that's where it's like, I own
247. 6:27escrow, I have a title company,
248. 6:29and then you build the vertical stack.
249. 6:32>> Yeah.
250. 6:32>> That's if you want to build the big
251. 6:33thing, and you might not want to do
252. 6:34that. The thing is is like, you want to
253. 6:36do this motivation, etc. stuff. It's
254. 6:38like, what stops you from doing that now
255. 6:40and not monetizing it?
256. 6:43>> I I I don't know. I think that's the You
257. 6:44know, one of one of my coaches said to
258. 6:45me that he thinks that the part of the
259. 6:47reason why I'm like not scaling even
260. 6:49more is because I do have this calling
261. 6:51and it's like, the calling is keeping me
262. 6:52from scaling more because I should be
263. 6:54going after that.
264. 6:55You know, so.
265. 6:57Yeah, I told her I needed a counseling
266. 6:58session today. That's what it That's
267. 6:59what it was about. I'm like, "What does
268. 7:00Krista want to be when she grows up?" I
269. 7:01kind of feel like that's where I'm at
270. 7:02right now.
271. 7:03You know, just not knowing.
272. 7:04>> The whole like, you know, holding you
273. 7:06back because your heart's calling you,
274. 7:08I'm like, whatever. There's stuff that
275. 7:10you're not doing that you could be
276. 7:11doing.
277. 7:12>> Yeah.
278. 7:13>> And so, either you do it or you don't do
279. 7:14it.
280. 7:15Whether it's your heart calling you, I
281. 7:17don't know what that means. Um
282. 7:22You've been in this situation for a long
283. 7:24time.
284. 7:25It's been 5 years, and you've been more
285. 7:26or less at the same revenue level, I
286. 7:27think, ish, somewhere in there.
287. 7:29>> No, down. I mean, we were we were doing
288. 7:3018 million a year. We were So, it's gone
289. 7:32down.
290. 7:32>> Yeah, over over 5 years, you've been in
291. 7:34the million a month ish range for a
292. 7:35while, right?
293. 7:36>> just hit 70 million.
294. 7:38>> Yeah. Okay.
295. 7:39So, 70 divided by 5, okay. I'm like,
296. 7:41>> [laughter]
297. 7:42>> all right.
298. 7:43Um you've been in that range for a
299. 7:45while, right? And so
300. 7:47um
301. 7:49this is one of one of like if I wanted
302. 7:52you to leave and leave a 10 out of 10
303. 7:53score, I'd be like, you should chase
304. 7:54your dreams, Krista. I think that you
305. 7:56can make the you can dazzle the world.
306. 7:58And I think that
307. 8:00your voice is going to change millions
308. 8:03of people's lives. And I think that
309. 8:04you're playing small by sticking to
310. 8:05realtors and you do that like relinquish
311. 8:07that identity because of what you've
312. 8:08achieved. That's what I would say if I
313. 8:09wanted to get get a 10 out of 10 from
314. 8:11you. Um
315. 8:13if I wanted to give you business advice,
316. 8:14I would say like, you are constrained
317. 8:16because you don't know how to grow this
318. 8:17business more.
319. 8:18And the next business will
320. 8:19>> Well, I don't even have a sales team. I
321. 8:20have one sales person.
322. 8:22>> Well, you don't know how to grow this
323. 8:23business more cuz you haven't.
324. 8:25>> Yeah.
325. 8:26>> So like
326. 8:26>> I wouldn't mind making a $100 million a
327. 8:28year business. I'd be cool with that.
328. 8:29>> Right.
329. 8:30>> maybe you don't want to go after my
330. 8:31dreams, probably.
331. 8:31>> Right.
332. 8:32Well, this is my point. Like you were at
333. 8:35like the the whole shiny object just
334. 8:37gets sexier at every level.
335. 8:39The better you are, the better the
336. 8:40opportunities you have to say no to.
337. 8:42And so like this is why like I make all
338. 8:44the content. I'm like, the work it's
339. 8:45like the work we're avoiding. And I do
340. 8:47think that you being in limbo of like
341. 8:49ah, there's this other thing over here.
342. 8:52I'll give you a different analogy. So
343. 8:53let's say that
344. 8:55you have a relationship, it's stable,
345. 8:56you've been married for a while, right?
346. 8:59And there's this your tennis coach that
347. 9:01is, you know, super attractive,
348. 9:03whatever, and you have this fiery
349. 9:04dynamic, whatever. And the thing is is
350. 9:05that like some of your attention
351. 9:07imagines what that life would be like.
352. 9:09And so as a result, you don't pay as
353. 9:11much attention to your marriage.
354. 9:13Is there anything inherently wrong with
355. 9:15the marriage? No. But you're not
356. 9:17allocating the attention because this is
357. 9:19stealing your attention, your shower
358. 9:20time, your your your driving time is
359. 9:22like just living in this hypothetical
360. 9:24world that only has upside and not
361. 9:26downside.
362. 9:27Because usually our fantasies just
363. 9:29forget the cost of achieving the
364. 9:30fantasy. There will be just as much
365. 9:33in that business or worse than your your
366. 9:35one.
367. 9:37And so like fundamentally, I think
368. 9:39that's what regret comes down to is
369. 9:40people just imagine the upside of a path
370. 9:42they didn't take and don't know the
371. 9:43downside.
372. 9:45And so, right now you have some regrets
373. 9:48theoretically about this path that you
374. 9:49haven't pursued, but not the cost
375. 9:50associated with pursuing it.
376. 9:53And so, like I said, if I wanted to like
377. 9:55get you all riled up, I would say like,
378. 9:57"Screw this business. You're meant for
379. 9:58the You're meant for the stars. You can
380. 10:00You can do all these amazing things."
381. 10:01And I think that's true. Um but I still
382. 10:03think that you will run into the exact
383. 10:05same revenue plateau that you're
384. 10:06currently at because you'll still have
385. 10:07to deal with the skill deficiency that
386. 10:09you have and you'll recreate this
387. 10:11business, the new one, faster than the
388. 10:13other one.
389. 10:14And then you'll still hit the same
390. 10:15plateau. The only thing is you'll be
391. 10:17more stressed cuz now you have two
392. 10:18businesses to take care of and you'll
393. 10:19probably split the team. This one will
394. 10:20go down. That'll stress you out. You
395. 10:22worry about your reputation. And then
396. 10:23you'll feel like a fraud over here.
397. 10:25>> Everything you said is super spot-on.
398. 10:26Can I just ask one more question that
399. 10:28aligns with it?
400. 10:29>> Sure. I know that this applies to like
401. 10:3010 other people here, so you're fine.
402. 10:32>> I mean, this was everything you said is
403. 10:33like it's resonating big time. [snorts]
404. 10:35So, what we teach, I know can help like
405. 10:38local businesses. Like we've already
406. 10:40tested it. So, I had a beta group and I
407. 10:41taught an attorney
408. 10:44a dentist, solar, coach, like everyone.
409. 10:46They were like, "Oh, I love this." And
410. 10:48so, the next thing is we were like we're
411. 10:50ready to launch actually next month. So,
412. 10:51it's it's not different. It's the same
413. 10:53exact thing we teach. I mean,
414. 10:55everything's the same except we're not
415. 10:56teaching you how to do listing
416. 10:57presentation. We're teaching you how to
417. 10:58do a video sales letter, right? And so,
418. 11:01we were we're ready to go mass market.
419. 11:03>> different than the benefit structure and
420. 11:05motivation there.
421. 11:06>> is something that That's like my dream.
422. 11:07This is like something that we already
423. 11:08have kind of going, but we're I I I told
424. 11:11you it wasn't going to be a counting
425. 11:12session. So, so basically, it's like but
426. 11:15then we're thinking, "How do I go speak
427. 11:16to the masses, right?" It's like because
428. 11:18whenever you speak to one, you speak to
429. 11:20no one. The more you speak to someone,
430. 11:21the more you Right? So, it's like that's
431. 11:23the the thing. We're We're We're doing
432. 11:25it because but it's it's I know there's
433. 11:27going to be difficulty there.
434. 11:29>> Mhm.
435. 11:29>> Yeah. But then when I look at like you
436. 11:31and I know I'm not you, but like you
437. 11:33know you look at these different people
438. 11:34Russell all these different ones,
439. 11:35they're speaking to the masses like
440. 11:36entrepreneurs, experts, you know, so
441. 11:38it's like if they can do it and there's
442. 11:40not a very like this is a total sausage
443. 11:41festival here. There's hardly any women
444. 11:43that are that are doing this, you know?
445. 11:45>> had an event it would be chicks, it's
446. 11:46fine.
447. 11:46>> You know, but you know what I'm saying?
448. 11:47Like there's not a lot. So I [laughter]
449. 11:48feel like there's room for a woman
450. 11:50leader to come in and teach this to
451. 11:52>> I agree.
452. 11:53>> You know?
453. 11:54>> I agree.
454. 11:54>> So is there a huge risk with that, too?
455. 11:56>> No, I think there's significantly less
456. 11:58risk with that than you going after just
457. 12:00pure personal development with no
458. 12:01business model.
459. 12:03>> Just a matter of figuring out how to get
460. 12:04in front of them.
461. 12:04>> just take like how to make viral content
462. 12:06and post it on a consistent basis plus
463. 12:08having a video sales letter as your kind
464. 12:09of method for getting people to turn
465. 12:11organic leads into into paying customers
466. 12:13and just go from this worked in this
467. 12:14vertical, here's 10 of the proof cases
468. 12:16and then you can go mass market. I think
469. 12:18that'll work.
470. 12:19>> Okay. Okay. Thank you.
471. 12:21>> Yeah.
472. 12:23We should have started there.
473. 12:25>> [applause]