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You are listening to the Grow youw Local Business podcast where local marketing expert and life coach Leslie Presnell shares the strategies and the mindset to help you reach more people in your city and bring in a steady stream of clients. All right, let's dive in.
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I want to tell you something that might sound a little shocking. I have spent over six figures working with the same coach in the same mastermind over and over and over again. I've invested in the same mastermind round after round for years. And I don't mean the same mentor with a brand new curriculum every round. I mean the same mastermind, the same content, the same concepts, the same work. And I keep paying for it. In fact, I just re enrolled last week for another round for $20,000. And this isn't because I'm just super carefree with my money and I don't care about the investment. That is not true. And it's also not because I have to keep enrolling because I just didn't get it the whole the other times. Like, it's not working. And I hope it does like it is working. And that that is the point. I keep reinvesting because I keep getting a return from the same process at a deeper level. And I wanted to record this episode for a couple of reasons today. First, I know a lot of local business owners are afraid to invest, and I get that. I remember investing $2,000 in my first program, and it felt like the scariest and the most exciting thing ever. So that's not lost on me. So I want to show you today what's possible when you do bet on yourself, when you intentionally spend your money, when you invest at a higher level, like whatever that higher level means for you right now. For you, that might be joining the localpreneur academy. It might be hiring a coach. It might be joining another program, paying for support of another kind, or just making a decision that stretches who you believe you are as a business owner. But I also wanted to record this episode because I see the opposite happen, too. Because some business owners are not afraid to invest and they end up investing all over the place. They buy the next course, they hire the next coach, they jump in the next membership. They want the next strategy, they want the next template, they want the next content idea. And they hope the next thing will finally be the thing that works. And having too many cooks in the kitchen is like trying to cook the same meal with 12 different recipes. Like, it's just not going to work. It's not going to be easy it's going to be very complicated with you trying to piece it all together. So today I want to talk about why I keep investing in the same mastermind, how I think about getting a return on my investment and what I believe is possible when you stop just chasing more information and really start becoming the person who can get a return from the process that you invest in. So I came up with several points that I'm going to walk through. But number one, I think mo the reason I keep investing in the same thing is I think most business owners think that they grow from learning new information. But my business has grown the most when I have gone deep and mastered the same information. I think business owners tend to think, oh, I already know that. And I've. I have found myself thinking that too. But it's like thinking, oh, I already know that, but they haven't mastered it yet. So we know things logically, but we aren't always applying it. Like, we know the strategies or the frameworks or the formulas, but we aren't implementing them, or we aren't getting results from it. So when it comes down to it, we don't actually know how to do it. So I hear business owners say all the time like, oh, I know how to do that, but they don't have the result. So it shows me that they don't know how to do it. So I see a lot of people in courses, in programs, in masterminds, go into student mode. Like, I think as business owners, as entrepreneurs, we naturally love to learn, and our brain loves to learn anyway. Like, we get so much dopamine from learning. We, we love to learn, we love to consume. And we can feel very productive when we're learning. But learning is not the same thing as applying and implementing and evaluating and getting results. That requires you taking action from what you're learning. And that is the difference between being in student mode and being in business owner mode. So student mode is let me go learn something new, but business owner mode is let me go learn something, show me something that I need to go and apply so I can go get the result. So a lot of times I see business owners learn something and then they think logically that they know it, and then they just go to another course or another coach without ever implementing anything because they just want to go learn the next thing. And this is one of the main reasons we have a monthly troubleshooting call inside the LocalPreneur Academy. It's to show my students which part of my process that I teach that they aren't applying yet or which part they're avoiding or which part they need to focus on and go deeper on. Because inside the localpreneur Academy, I don't want my students constantly just looking for the next thing. I want them coming back to the process because I know this process works and for them to be asking, okay, like, where am I not standing out locally? Where am I not reaching enough people in my city? Where am I not growing my local following? How am I not creating demand with my content? Where am I not selling? And the other thing is, I treat my investment in my mastermind the same exact way. Like I can go through my coaches material and say, okay, if I'm getting this result, which part am I not applying yet? Which part have I been avoiding? What do I need to do more? What do I need to do better? Because it's not always about needing new information or more information when we haven't even implemented what's in front of us yet. So the second reason that I keep reinvesting in the same mastermind round after round is the same process hits at a different level. So the mastermind that I join may be the same with the same core content round after round, but I'm not the same. My business is in a different place each time. I bring new problems, I have new goals, I bring new challenges, I have new things that I'm working on. So the material may be the same, but my brain hears it differently every time just because I'm in a different place. So like maybe the first year, um, I was thinking I was focusing on getting more sales and then the next round I'm thinking, okay, like how do I be a bigger leader? And then the next time maybe it's like, okay, how do I simplify and scale? So it's the same process, but I'm not the same business owner in the same place. So I'm seeing everything through a different lens each time I come back to it. And my students tell me inside the localpreneur Academy the same exact thing. So the localpreneur academy is lifetime access. So the good news is you don't have to keep re enrolling. You get access to the program, to the coaching, to the feedback, all for a one time investment. But my best students tell me that they keep going back through the trainings and they re listen to them over and over, year after year or you know, every six months. They take themselves through it again and again and they hear things differently. Their business is in a different place, they are different. So they're able to hear things differently and they're able to apply things, things in a new way. Or you know, maybe they just didn't hear it at all the first time. They've just missed it. So now they're hearing something completely new to them. Now the third reason that I keep reinvesting in the same mastermind is ROI isn't passive. So let me explain. Here's what I mean. So I did not join this mastermind hoping a return on my investment would just magically happen. I joined expecting to create a return on my investment. And the difference is that I didn't go into this mastermind with the mentality of just I hope this program works for me. No, I went into this program thinking I am going to get every single ounce of what I can from this program to make as much money as I can. I knew what this program taught. I knew the skills that I wanted to develop that this coach could teach me. I knew the results that it had gotten from other for other people. So I knew what possibility was there and I was ready to go in and get it for myself. I went in expecting to get a return. And that is so important with your investments because you go in like a business owner getting what you need for your business, not a student who just hopes to learn something. It puts you in application mode. And I'm not saying I want to be clear. I'm not saying you should just invest money that you don't have or make reckless decisions. That's not what I mean by betting on yourself. What I mean is that once you decide an investment is a, is aligned, it's a good choice. You don't go into it passively hoping that it just pays off. You go in like a business owner who's responsible for creating the return. Because most people go into investments or they think about making investments by asking things like, can I afford this? Is this in the budget? Is it too expensive? What if it doesn't work? What if I don't make my money back? What if I already know this, but powerful investors just ask better questions and they approach the investments differently. They ask, how am I going to use this? What result am I going to create? What skill am I buying? What problem do I need to be solved? What would make this investment a no brainer for me? How many clients or bookings or orders would it take for me to pay for this? And then how much profit do I plan to make after that? And that's how I thought about. I mean, that's how I think about every single investment. When I first applied the very first year into this mastermind, the investment was actually $50,000 a year that year. It's a lower cost now because it no longer includes a live event and it no longer includes one on one coaching, which I actually added on. We can add it on separately. So I did add on one on one coaching. So I do pay $30,000 a year for this mastermind, technically. But when I went in, even in my very first round at $50,000, like, that was a huge amount for me. Like after expenses, after taxes that year, like, I was willing to break even in my business and not pay myself. Because I was like, I'm going to go in, I'm going to learn everything. And even if I don't see a huge return for the size of my business right now, I know it will all compound. Like, it will eventually add up because I am learning and I'm going to go out and apply it all. And so I was totally okay with that option. But I went in and in my first round in this mastermind, my business tripled in that year while I was pregnant and having a baby as a new mom. Like, literally one of the most inconvenient times to invest $50,000 into a mastermind. But I knew there would always be something. Like, our business is always running and life is always happening. But I wanted my business to be able to grow among all of it. So I bet on myself to the tune of $50,000 and it paid off. But even before I knew that my business was going to triple that year, I didn't just ask, like, can I afford this? Or is this in the budget? I asked myself, how am I going to make this investment back? What skills do I need to develop? What exact things do I want coaching on to grow? Like, what are the very specific things that I am going in to learn? And for me, I knew that $50,000 was 25 students. For me, I sell a $2,000 program. And I knew that going in and learning the skills that I didn't have, getting the mentorship, getting the coach's eyes on my business, who had done what I wanted to do. I knew of course I would sell at least 25 people into my program. I knew I could make my money back. So it made the investment a no brainer because I could make my money back and then I had the skills for life, so I could go make way more money for life. So everything else was profitable. And that calmed my nervous system. In order to Invest. And then as a pregnant woman and a new mom, I was able to go and triple my business in, in that first round. And then I kept going round after round. So I was like, this is working. And here's another fun fact. I just looked at my numbers. My business this year in June is already where I was last year in October. So I've already brought in the number of students into the localpreneur academy in the first half of this year that took me until October to enroll last year. So I've condensed time, I've doubled my selling speed. And that is because I know that I've doubled down on my investment, I've doubled down on my coaching, and I've doubled down on the process. And that's another ROI of coaching that I just don't think we think about enough. It shortens the amount of time that you spend spinning. It helps you make decisions faster. It helps you see blind spots. It helps you stop avoiding things, it helps you implement instead of staying confused for six months. And here's something else that's really fun. Last week I got coached by my coach and it was just a day or two after I had re enrolled for the next round of the Mastermind. So I just paid her $20,000 for the next round and I raised my hand for coaching and we were talking about my launches and conversions and just increasing that. And she gave me a piece of advice, like she told me something to go and implement and do. And I know my business well enough, I know my numbers, that if I go implement this one piece of coaching that she gave me, this one thing she told me to do, that it can easily create 10 additional students. 10 students at $2,000 is $20,000. So that one coaching conversation just gave me a path to make that investment back. Like I could see that return immediately. So that one piece of coaching, that one five minute conversation with my coach was worth $20,000. And that's how I teach my students to think about it when they spend $2,000 with me. Like, how can you make your 2K back from one conversation with me? How can you go make that many sales from the one thing I tell you to go and do? Or if you watch a training in the members portal, how can you go implement and make your 2K back from one video, from one thing you do? Or if you ask for feedback on your marketing, or you watch me audit someone's Instagram account or I audit your website, how can you turn around and make your 2k investment back? Like Maybe it's not in a day, maybe it's in a month or. Or three months. But for you to see that one thing that you did, one piece of coaching you received, one thing you learned and that you went and implemented gave you the return on your investment. You will be such a powerful investor when you start seeing your returns like that. Like, I am so excited to have just paid her $20,000, because I know I have the path to make it back already. Like, I'm literally going to implement it next week, and everything else is going to be profit. And to wrap up. The final reason that I keep investing in the same Mastermind is because it really is just this declaration of who I'm becoming when I invest. It's me saying, I'm becoming something bigger. I am growing. Like, yes, there are times we invest because we feel like we're struggling and things aren't working and we want help 100%. I have been there, and there are, like, I have joined the Mastermind rounds where I felt like I was going down, too. That happens. And there are times when we invest because we have bigger visions for ourselves, and both of those get to be reasons we invest. In my experience, it's easier to do business when you have support. And when I invest with my money, it really is me saying, I'm serious about this. Like, this is who I'm becoming. This is where I'm going. So, like, let's buckle in. Like, I love being the person who invests and who bets on herself on any day of the week. Like, of course I'm going to bet on myself. Like, I want to stretch myself. So wherever you are right now, whether you're afraid to invest or you've been investing in a lot of things, or maybe you're in something right now and you're thinking, like, what's next? I want you to think about, do I need something new? Do I need support? Do I need to apply what I already have? What's missing? What are the skill sets that I need to learn? And what type of investor am I going to be? What return am I willing to create for myself? The best investors are people who decide, I'm going to use this, I'm going to apply this. I'm going to be the person who creates a return no matter what. And if you're listening to this and you know the LocalPreneur Academy is the process that you want to go all in on, then I want to invite you to join us. The Academy is where I teach you the five Skills that every local business owner needs to get fully booked. So you're going to learn how to stand out locally. You're going to learn how to reach more people in your city with your local marketing plan. You're going to learn how to grow your local following. You're going to learn how to create content that builds demand and you're going to learn how to sell. And just like I talked about in this episode, it's not about joining and just hoping it works. It's about coming in as the business owner who's ready to create the return. Like ready to implement, ready to get feedback, ready to apply this to your business. Ready to come back to the process until you are known, until you are chosen, until you are in demand, until you're fully booked in your city. When you join the LocalPreneur Academy, you get lifetime access to the full program. Not something you have to keep re enrolling in. You get ongoing weekly coaching, personalized feedback and the support to keep applying the process at every level of your business. So if you are ready to stop piecing together 12 different recipes and you want one proven process, one mentor for becoming the local go to person in your city with a fully booked business, I would love to be that for you. I would love to have you inside so you can click the link in the show notes to learn more and join today. And when you do, I want you to come in already asking the question how am I going to create my return? Because that is the kind of business owner who gets results fast. Hey, if you enjoyed today's episode, I want to invite you to check out my program, the LocalPreneur Academy. This is the only program for small business owners who want to become the local go to in their industry with a steady stream of clients. You can find more information@lesleypressnell.com and I'll see you inside.