9-Figure Founder Jeffrey Feldberg Exposes The Hidden Leaks Stealing Your Profits And Shows How To Plug Them Today (#490)

490 Profit Multipliers From The Deep Wealth 9-Step Roadmap

[00:00:00]

Jeffrey Feldberg: Well, hello Deep Wealth Nation and welcome to another solo episode of the Deep Wealth Podcast. I'm your host, Jeffrey Feldberg. I'm the guy who said no to a 7-figure offer and later, yes, to a 9-figure exit by mastering the art, get ready for it, the art of preparation. So I have a rhetorical question for you.

What would you say if I told you that your profits, your business value, and your future are being robbed from you right in plain sight. You'd say, Jeffrey, you're crazy, you're nuts.

But what if it was true?

Would you be the least bit interested to find out what you can do, how you can stop this?

And of course the answer is yes.

So I want you to picture this. You're grinding it. Day in, day out, you're chasing growth, but your profits are staying flat. Or maybe even worse, you're like I was very early on in my journey. You're pouring your energy into everything only to watch your profits shrink as costs are going up.

Now, according to McKinsey, fewer than one in four companies are [00:01:00] outpacing the peers when it comes to revenue and profit growth often because they're stuck in these incremental habits that ignore these big levers.

And we're going to be talking all about that. 

The good news is there is hope. There are things that you can do in coming out of this episode, you'll know exactly what to do and as important what not to do. And I've gotta share with you, you don't need these massive overhauls or outside capital to help you double your profits.

These are small, simple shifts, and don't confuse simple with simplicity. It's things like focusing on the customer experience, or looking at your resources in a different way so you can reallocate them. These kinds of things can transform your business.

Now, these aren't generic tips. These are battle tested. They're from the trenches. They're from my own entrepreneurial journey that led to the 9-figure exit, and I've even reverse engineered some of my biggest failures. Yes, I was not perfect. Far from it. I've always said if I had a dollar for every error that I made, [00:02:00] every mistake that I made, I would not have needed my liquidity event.

So stick with me because by the end of this episode, you'll have actionable strategies from the trenches to help you boost your bottom line today.

Okay, Deep Wealth Nation, what do you say?

Should we jump right in?

Let's do it. So what's the problem that we're talking about today?

Most entrepreneurs are chasing what I call vanity metrics, like revenue spikes but at the same time, they're ignoring these massive problems, these skeletons in their closet that are zapping easily 20 to 30% of the profits.

And in fact, Deloitte, in their efficiency report, talk all about this. And when you're going down this path, it leads to burnout, emotional drain, self-doubt, endless firefighting, and that fear that your hard work is all for not. I've been there, I felt it very early on in my e-learning business I was the bottleneck, I saw right in front of me the profits slipping away despite [00:03:00] this incredible growth that we had. Now, before I go forward, I want to ask you a question de both Nation, answer yes or no. I don't want any hemming or hawing, or, let me give you the explanation.

Does your business run without you?

If you're abducted by aliens today and you're a dropped off 30 days from now, three weeks from now, maybe three years from now, would you still have a business?

And sadly, for most entrepreneurs, the answer is no. I know exactly what that's like.

But what changed everything, that was a game changer for me it was preparation, and here at Deep Wealth, we have two tracks for entrepreneurs. We have our 90 day system. One track is Deep Wealth Mastery Growth, and this is if you want to grow your business, you want grow your profits, no plans of selling, and the other tract, it's Deep Wealth Mastery Exit. This is where, yes, Jeffrey, I want to grow my business today and in the very near future, I want to sell it.

And these 90 day systems, they help you build sustainable profit engines, helping you strengthen cash flow without the need for outside [00:04:00] investment.

And I'm proud to share that Deep Wealth Matery is the only system based on an actual 9-figure exit. That was my exit in the real world strategies from the trenches.

And these are also the same strategies that help me turn my struggling startup into a profit machine by focusing on what truly multiplies results. 

So today I'm going to cover three powerful multipliers.

First, it's how can we work with our customers to unlock loyalty driven profits, some people call this customer centric innovation.

Second, it's how we can reallocate our resources to make us more efficient, help us improve our profits while we're at it.

And third, it's how we can plan to fuel high growth with low risk.

All three of these factors, by the way, these three multipliers, they're all coming from Step 2 of the Deep Wealth 9-step Roadmap. Step two is X-Factors. These are things that insanely increase the value of your business, helping you take your business from here to the next level [00:05:00] in a way that's very difficult for your competitors or others to copy.

Now let me ask you another question. Do you, and if you have a team, do your team, do you have the shiny object syndrome? And this is where we're ignoring our customers right in front of us and we're saying, Hey, let's get this new customer over here. We're going to spend this time, this money, this effort to go out there and do it.

It's fun. It's exciting. We're on the chase. We're on the hunt. But right in front of us, that's where the real gold is, because today, where competition is fierce, ignoring our customer's real needs, this is not only a fast track to lowering profits, it can actually put you out of business. Now, McKinsey, when they've done benchmarks, they show that the top performers, these are the ones that focus on the customer experience, their revenue is growing over twice as fast compared to the competitors.

This is a direct path to doubling your profits without massive ad spending, adding to the team and all the headaches that go along with that. But for most entrepreneurs, this is a pain point. You're feeling, [00:06:00] again, isolated.

You're guessing, well, what do my clients want? And you're leading to these wasted efforts this churn, this money that's taking you nowhere fast.

And with this in mind, let me share a quick story with you that hits close to home. This was very early on in my journey. I was so focused on the product features for Embanet that I missed the emotional side of what clients wanted, the seamless experience, not just deliverables. It was costing me profits until I realized that, thankfully, and I shifted.

As I'm talking about this, I'm thinking of a graduate from Deep Wealth Mastery, Sarah. She was running a service firm and she was burnt out. Profits were flat at 15% and she felt quite openly alone in her decisions. In fact, one of the reasons why she came to Deep Wealth Mastery, she wanted to have a community, a place where she can share what's on her mind.

She couldn't share it with her family. They didn't understand. She certainly couldn't share it with her team members. Through the program. When she mastered Step 2 X-Factors, and these are again, these same things that help [00:07:00] you insanely increase the value of your business, she began to realize, Hey, I have world class skills in these areas, her and the team.

And she began to innovate simple feedback loops such as what are the quarterly pain points?

Through surveys that they began to send out, she boosted retention by 40%. Recurring revenue began to increase, and she said, and I quote, "Deep Wealth gave me hope." End quote, Sarah said she doubled her profits in six months, and it was the only system that made customer experience actionable because again, it came from a 9-figure lens. It's a holistic system. We're looking at everything. 

Now as I'm talking about this. I know what you're thinking. Deep Wealth Nation, Jeffrey, this sounds great. I don't have the time. I'm too busy. I could never be a customer experience company or make these changes. I'm just too busy focusing on growth or getting investors or scaling or exiting, and hey, I hear you. It's a fair point, but this is the trap.

Think about it, small tweaks, day [00:08:00] over day, that adds up to huge returns. It doesn't matter if you're high tech or low tech, if you're B2B or B2C, because I have to share with you that the customer experience focus, it is for every entrepreneur. And if you're thinking, yeah, Jeffrey, whatever the Harvard Business Review shows that customer experience, it drives loyalty across all sectors.

So with that said, here are three things that you can do right now, finishing this episode that's going to help make a difference. In fact, if you stop the episode, and I hope you don't, but if you stop the episode after these three things, this is what's going to make a huge difference for you. Now, please Deep Wealth Nation, please keep on listening, but here are three things that you can do right now.

So the first action, the first strategy.

Why don't you start a customer experience audit?

So what's a customer experience audit? Jeffrey?

Hey, that's a great question. I'm glad you asked. I want you to list your top three customer touchpoints. Maybe it's onboarding, maybe it's support, maybe it's billing, and then honestly, openly, I want you to rate them on a [00:09:00] scale of 1 to 10 when it comes to ease.

So is it ease? Yes, Jeffrey. It's effortless. It's easy. Okay, you'll put that at a 10. Or actually, Jeffrey, uh, no. You know, I was speaking with Joan the other day and she was telling me what a headache we created for her and her company. It's a two, whatever it is, just put it out there.

Why we're doing this this is helping us uncover very quick wins.

Well, how?

Number one, we're going to spend one hour just brainstorming, okay, how can we fix this?

Maybe it's automating follow ups. Maybe we need to create an online wiki where there's going to be our frequently asked questions, whatever it is, I want you to take note of where you're falling short and what you can do.

Or even if you gave yourself a high ranking, okay, you can always do better. You can always do better Deep Wealth Nation.

So your first step is to do the customer experience audit.

Hey, why don't you be bold?

Do this on your own first. Once you're done, take it to your team. Have them do it with you. Why don't you compare [00:10:00] notes, the second strategy is innovate micro personalization.

Okay, Jeffrey, micro personalization. You're using all these fancy words.

What does it mean?

I want you to look at your interactions and then pick one aspect of it. Pick one thing from your interactions and customize it. Maybe it's emails that you're sending out to customers or prospective customers.

Why not customize those emails based on feedback that you've received in the past?

Well, Jeffrey, we don't have any feedback.

What?

You don't have any feedback?

Okay. Not to worry. Begin now. You, the team, start reaching out to customers and even people who aren't customers that could have been customers, and ask them what their thoughts are on your outreach, on your communication. Find out what worked, what didn't work, and based on that you can begin to create your customized emails.

Now, why would you want to do this?

PwC in their report, they noted that personalized experiences, it can increase revenues. 15%. Again, [00:11:00] personalized experiences can increase revenues 15%. And what you can do, you can use all kinds of free tools out there. I'm not even going to name them because they change from time to time, but there's all kinds of free tools where you can do these small surveys, a quick two minute survey where you send it out to a particular client segment, you're asking them for their feedback, for their results, and then you can take that and put that into these customized emails and off you go.

And there's terrific free email tools out there as well. It's not expensive, it's not complicated, it doesn't take a lot of time.

And then the third strategy. Co-creation.

Well, Jeffrey, what's co-creation? What do you mean?

Why not look at who are your key customers?

So take a list of your key customers and ask them to beta test your innovations on a quarterly basis.

We did this at Embanet. It was a huge success.

Why do you want to do this?

Well, for starters, when you're reaching out to your key customers and saying, hey, we want you to be part of this journey that we're doing. We're looking to increase your experience to help you do what you do even better, to increase your profits.

Would you mind [00:12:00] being a beta tester for us? And go through this experiment with us?

It builds loyalty and it also helps you uncover their unmet needs.

How?

Well you can do this on a phone call, you can do it on a virtual session where you're talking about what's going on, what's working for them, what's not working for them, and then based on their feedback, you're changing your company.

And remember, go back to my Embanet days. It was that one phone call that I had where one of our customers said, Jeffrey, I'm having problems filling the seats. That one comment led to a market disruption for Embanet because we created Embanet 2, it put Embanet one out of business, and the rest is history, as they say.

And so co-creation, think about that, speak to your customers, be open, be vulnerable. And when you're positioning it as an experiment, you're saying to them, Hey, we're not going to be perfect, but together, let's go through that. And now, when you think about these three strategies, what I love about that, they tie so nicely into the default nine-step roadmap, specifically Step 3 Future Buyer.

And whether it's a future buyer [00:13:00] for your business or a future buyer in terms of a customer.

Because what we're thinking about, how can I innovate as a company that makes my business irresistible to whoever it's going to be?

All that said, though, these strategies without the execution, as strong as these strategies are, I can promise you you'll get zero results.

So take these strategies and begin to implement them.

What's one customer experience win that you've had?

And come on, I know you've had one. If you can't think of it, ask your team and why don't you share it with your other team members. Share it as a company. Send out an email. Have a quick town hall, and begin to talk about this.

So as you're thinking about this, let's move on to our second profit multiplier.

Are you ready for it?

Can I get a drum roll please?

Resource allocation.

I know all these fancy words. Jeffrey, why are you using all these fancy words?

Well, they cover so much. So resource allocation, what is that?

This is where on the fly, we're changing how we're spending our money, our focus, and our time. Now, I know this [00:14:00] sounds simple. As I said earlier, don't confuse simple with simplicity.

Why would this matter?

Because in today's fast-paced market, if you're holding on to outdated allocations, you are leaving profits on the table. You're leaving your business future on the table.

In fact, that Deloitte report I was referring to earlier, it shows that when we're not efficient at how we're allocating our resources, think our capital, our time, our focus, it can suck up 30% of our potential profits, gone down the drain. This is a silent killer for entrepreneurs, and it helps create that overwhelming feeling of stress where you're spread too thin, you're second guessing every decision you feel isolated as you're watching your cash flow trickle down the drain.

So I want you to be very open with me. I want you to be vulnerable here, and I'm going to do the same right now because in my journey, I was so guilty of this, I'd allocate this money, this focus, and this time across these different projects, but I was spread too [00:15:00] thin. I had the shiny object syndrome. I thought, well, hey, I'm going to do all these things. And I was confusing activity with progress, but it really wasn't.

It led to me feeling burnt out. Profits were flat, even going in the other direction, negative not where I wanted to be until I learned, well, hey, it doesn't have to be complicated, but all that changed when I learned that I can treat my resources otherwise known as my capital, my time, my focus as flexible.

This change, and this is mindset, and this is what I love about the art and science of business. This change in mindset, it not only boosted my profits, but it began setting the stage for later on my 9-figure exit.

As I'm talking with you about this, I'm thinking about Alex. He's another graduate of Deep Wealth Mastery and he had a manufacturing business and he was feeling discouraged, lonely at the bottom. His profits were stuck in the single digits and costs were continuing to pile up. He went through the program and in the [00:16:00] nine-step roadmap, but really resonated for Alex.

It was Step 4 Due Diligence. He did an internal audit and there he thought, wow. This is a huge skeleton over here. And look at the skeleton over there in plain sight. It was always there, but I never saw it. And he began to reallocate, changed the budget and when he came out of the internal audit, he realized that he had to stop certain things and begin other kinds of actions. He started doing some upgrades on the tech side and on the backend, and in under 90 days, his profits doubled.

In Alex's words, and I quote, "The Deep Wealth 9-step roadmap made it painless." End quote.

And when I was speaking to Alex off to the side, after he'd made these changes, he said, Jeffrey, what I loved about this and why I signed up for Deep Wealth Mastery, it's the only system based on a real 9-figure exit deal. That gave me the confidence to know that, hey, your strategies, they're the real thing.

And what Alex loved, he made these changes without extra capital. It was a re-imagining of what he could do with what he [00:17:00] had. So I want to tackle some common objections. You're probably thinking about Deep Wealth Nation. You might be thinking, okay, Jeffrey, hey, if I'm going to be reallocating, it sounds risky.

What if I make a mistake and I mess up a key area?

Hey Deep Wealth Nation, I completely get that. This is understandable, but here's what I want you to think about. When we make small data-backed decisions, we minimize the risk.

Or you may be thinking, well, Jeffrey, my team is way too small. We can't afford these kinds of changes. Actually, I'll share with you, the smaller the team, the easier it is because you can adapt faster. It's all about small pivots, not big changes.

You're doing these experiments. So here are three things. Three actionable takeaways. These three strategies that you can start with right away.

The first strategy that you can take is to do what I call a resource reality check.

This is where you're asking yourself and you're looking at, okay, when it comes to time, money, and people, how am I allocating them?

Where is it going to? And then based on that, you can get some help perhaps from your [00:18:00] bookkeeper or your accountants, or maybe you have a financial department.

What's the ROI?

What's the revenue generated per dollar spent when it comes to time, money, and people?

Okay, Jeffrey, yeah, I understand what you're talking about, but why would I do it?

Because when you go through this, we're basing it on not a gut feel. There's always a time and place for a gut feel, but we're basing this on actionable information, your data, and it reveals where these hidden inefficiencies are.

You can use a basic spreadsheet to highlight, okay, these are the underperformers here. These are really the high achievers over here, and the first thing that you can do, take last month as an example and score one category today.

What does it look like?

Where are you, where are you not?

And then begin to make small micro changes.

The second strategy that you can do is implementing a flexible budget process.

Well, Jeffrey, what do you mean a flexible budget process?

How can I have a flexible budget process? This isn't the point of a budget that it's stable, it's there. It doesn't change. Well, kind of, let me tell you what [00:19:00] I mean.

Why not take 15% of your budget and put it into an experimental area, and you're going to be doing quarterly experiments, such as, why don't we change our staff hours to put it towards peak demand areas?

Why would you want to do this?

Well, McKinsey, in the report they showed how you can increase efficiency by 25% when you do that. And again, you're tracking your results with simple metrics like cost savings.

 So your first step, identify one flexible area in your business right now that you can begin a trial, a small shift starting this week.

And the third strategy, and this is one of my favorites. I want you to leverage cross training. I had a lot of fun with this back in the Embanet days. Here's what I want you to do. I want you to take your team members as they're categorized, and I want you to rotate them across different roles.

Number one, to find out, okay, hey, look at this, Jim we put him over here, but wow, he's just as good. Maybe even better over there. You're freeing up specialized resources for incredibly valuable [00:20:00] tasks for your company.

Why would you want to do this?

Well, it builds resilience within the team. It gives them a change. You're also cutting dependency risks on just one person. Let me give you a quick example.

At Embanet, because we were working with universities and colleges, our busy season was the start of every semester. 

Now, depending on the university or college, this would happen three or four times a year.

And our tech support desk, the phones, the emails, it was ringing off the hook. It was incredibly busy. What didn't make sense, and I saw my competitors do this, they would be overstaffed 70% of the time in technical support because the rest of the year when it's not so busy, everyone's twiddling their thumbs, they're bored other minds, and the cash flow is being drained.

So we created a concept of e Embaent Recruits. We looked to the military. And the military they have volunteers who, once they've done their military service, they'll come back for service, for training, and for the Embanet Recruits, we took different team members in different departments and we trained them in [00:21:00] technical support. And wow, what a gold mine we found.

So as an example, we took someone in customer service and we trained them in the technical support area. And when it was the busy season, they were helping technical support and they came out of that Wow Jeffrey, team. I never realized how here in customer service we can actually reduce the number of touch points of technical support when we do this or we do that. Or perhaps we took someone from technical support and they were promoted to a different department.

Well, that's an easy one. They were already trained. They would come back, they made a difference. And I have to tell you, the Embanet Recruits, everyone had a lot of fun with that. It kept the cost down. It meant that we can give bigger bonuses for everyone at the end of the year because we were conserving our cashflow, we're increasing our profits, and it made all the difference.

So leverage the cross training. It makes a huge difference. And what I want you to do right now, write it down or put this in your calendar. Speak to a team member. Schedule your first cross training discussion right now, for this week, no layer than [00:22:00] next week begin to make that difference. Talk about it.

This is an experiment.

Where should we start?

What should we do?

How will we do that?

Have that discussion with the team.

And as you're thinking about that, I want you to know and understand that these strategies, they're coming from the Deep Wealth 9-step Roadmap. This is from the trenches. It works. It really does work. And these small changes add up to big results.

So let me ask you, what's one resource in your business that's overdue for a change, for an experiment?

In fact, let's not even use the word change. Let's use the word experiment. It's easier for people to wrap their heads around, and it's not as much stress or fear. I want you to reflect on this one experiment and then share your insight with another team member.

It's a small low risk way to break through that isolation. And I'm going to use the F word here. You're going to have some Fun, you and the team.

So as you're thinking about that, are you ready for a final multiplier?

Of course you are. 

Drum roll please. Here we go. 

Profit multiplier number three, probabilistic planning for bold moves. [00:23:00] Now you may be saying, Jeffrey, all these fancy words today.

What gives, what is probabilistic planning?

I'm going to explain this for you. I'll use some examples. It's actually something you're doing right now, , both on the personal side and the business side, but you don't realize it yet.

So probabilistic planning these two fancy words. It's a smart way of making plans when things aren't a hundred percent certain as opposed to deterministic planning.

And that's when you're assuming everything's going exactly as expected, where you have a fixed number of outcomes or decisions, you're just going to do it anyways. Probabilistic is where you're accounting for uncertainty and risk. So let me make this clear right now. It's probably clear as mud. Let me make this clear as crystal.

So imagine that you, the family, you're planning a picnic, deterministic planning says, okay. It's going to be sunny. Let's go at 12 o'clock. Our family picnics we've always gone at 12 o'clock at noon. We've had a terrific time, and it's a perfect time for lunch. Everything's going to be great. Well, until it [00:24:00] isn't probalistic declining, says, okay, I've checked the weather forecast.

There's a 70% chance of sun at noon. There's a 20% chance of light rain, and maybe a 10% chance of a storm. Okay, here's what we're going to do. We're going to bring some umbrellas and we're going to have a backup. So if it's raining outside, we're going to go to an indoor place. And this helps you prepare for the different possibilities, making sure that your decisions in advance, they're flexible and they're also realistic.

So when it comes to business, this is where we use, again, these two fancy words probabilistic planning for everyday kinds of things that we're doing to help us avoid surprises as best we can and improve results.

Now, am I saying that problemistic planning is a magic bullet?

It's going to solve all your problems?

Of course not. It gives you the edge, though, that you can prepare in advance just in case things go the other way. Now, you might be thinking to yourself, hey, yeah, Jeffrey, I hear you.

But does it actually work?

These fancy words, this system taking the time, the [00:25:00] effort to do all of this?

Here's what I want you to think about, and then I'm going to share some research with you. 

Today, more than ever, the market is changing. It's in a constant move. What some people call volatility. This is the norm, is not the exception, and when we try and play it, quote-unquote safe, we have these rigid plans. We're not prepared to change.

That's where we miss opportunities. That's where our profits stop. They stagnate. Maybe they even go the other way. We're leaving money on the table. So having said that, Deep Wealth Nation, you're probably asking, well, Jeffrey, yeah, I hear you.

But does it really work? And the short answer is yes, it does.

Let me circle back now to the research after I explained what was going on here, just to eliminate some of the questions or the hesitations, or the doubt, or even the cynicism that you have.

What does the research say?

Well, a big study was done by McKinsey and what they found was when they looked at all kinds of businesses, they found that only 25% of businesses keep growing at a steady and strong rate, while the other ones simply didn't.

They had ups, they had downs. Maybe they didn't [00:26:00] even make it.. So another way of saying this is 25% of businesses experienced regular success day in, day out through the growth. 75% of the remaining businesses continue to fail or have the ups, the downs, a lack of consistency. So when they looked at the 25% of businesses that had this consistent growth over time, what the research found. These 25% of businesses, they were practicing the probabilistic planning for bold moves.

They were doing these bold reallocations. They were making the smart move with their money, their people, their focus, their resources, their time. They were trying new things. They were doing experiments, even if there was some risk involved with it, but they thought it through first.

Okay, what could go wrong if this went wrong? How could I deal with that?

How can I prevent it from going wrong?

And when they did this, their growth went up by as much as 20% a year.

Deep Wealth nation. here's the rhetorical question for you. Based on this research, do you want your business to go up 20% a year in revenue, maybe [00:27:00] even profits, without having to hire additional team members or spend more money?

And of course, the answer is a yes. It's a no brainer.

Well turn to those two fancy words, probabilistic planning for those bold moves. That's what can help you do it. The research shows it, it supports it. And I'm going to share some vulnerability here with you. Back in my startup days and the Embanet days, I did not do this. I stayed with a quote-unquote safe bets, what conventional wisdom said, and they kept profits in a negative or holding steady, not so great, even at the breakeven.

It wasn't until I began to embrace the probabilistic thinking that I looked at opportunities in a whole new way. And yes, this is what helped me unlock the growth that later led to my 9-figure exit. The mindset shift. It is a game changer, and as I'm talking about this, I'm actually thinking about Lisa.

She's a graduate of Deep Default Mastery, and she was in the e-commerce space. She came in overwhelmed and discouraged. Her profits were lingering [00:28:00] around 15% to 18%. Somewhere in there. She felt alone. She couldn't talk to anyone. The fear of failure was huge. She had paralysis of analysis, just could not make a move.

Went through the program. Step 5 Winning Mindset, and the mindset roadmap and the probabilistic planning made all the difference for her. She began to make plans, her and the team. She would weigh the risks.

She debated the bold ideas, Hey, do we expand into new markets? What would that look like?

Do we stop doing this?

Do we start doing that?

Well, the result profits doubled within 12 months.

And in her words, Lisa shares, "It's the only system that makes bold planning simple and sustainable without outside capital."

 So I know Deep Deep Wealth Nation, you still may have objections. Maybe you're saying, Jeffrey, I, yeah, I hear you. But planning like this, it takes way too long or I'm already distracted with the daily fires

Deep Wealth Nation, I hear you. I've been there. I've done it. The good news is it starts with a quick focus session, and that's what's going to save you time in the long run. That's what I love [00:29:00] about preparation, by the way. It's the gift that keeps on giving. Now, you may even be saying, well, Jeffrey, I've done these bold moves before, and wow, was it a disaster.

Why would I want to risk that again?

Hey, that's a fair comment. But probabilistic planning, it helps to either eliminate those setbacks or even soften them. remember, we're doing small experiments. We're not betting the farm that if we get it wrong, we're going to live another day to tell the tale. So what I want you to think about, begin to diversify, do the probabilistic planning, and you're going to turn those potential failures into learning steps because in my experience, success is not only knowing what to do, it's knowing what not to do, and where most entrepreneurs, including your competition fail, they're only focusing on what to do.

Well, we've always done it this way. This is our ritual. This is how we're always going to do it, and they're leaving the what not to do out of the mix. 

So here are three actionable takeaways that I want you to think about to get started right away.

 Strategy. number one, I want [00:30:00] you to think of 5 to 10 potentially bold actions or initiatives that you can take. And then for each of the five to 10 rank, by the probability of success. As an example, this has a 20% chance of succeeding. This has an 80% chance of succeeding, and I want you to look at the potential impact.

Why?

Because this helps you balance the risk for higher overall growth. Because what you're going to do, you're going to create a very simple table to prioritize.

So the first step, brainstorm your list today. Talk about it with the team, then list the initiatives on the likelihood of success. And it's the best guess.

You're not going to know, but why not start with the one initiative that has the highest likelihood of success?

Now if you start it, it doesn't work out, that's okay. Move on to the next one. We're not going to do that again, but we're doing it at such a small level. It's not going to put us out of business.

But what if it does work?

Think about that.

What if it works?

Well, we can take that, we can build upon that, do more of that, take it more at scale. And that's where we see our revenues grow, our [00:31:00] profits grow, and we're securing our financial future.

Your second strategy that you can do right now today, I want you to pick one project that you're working on and you're going to set some targets on it. So as you look at that project, let's just, I'm going to pick a number out of the air. There's a 50% chance of success, okay. That also means that there's a 50% chance of failure.

So what you're going to do now is you're going to focus on that project and you're going to begin to monitor it. As you get new information, you're going to change the plan. So, in other words. You're not locking yourself into the, it's this way or the highway. You're going into it, you and the team. This is an experiment that we're doing.

There's a 50% chance, like the flip of a coin, that it could come out heads or it could come out tails that we're going to win or we're not going to win. Well, if we get some new information, we're going to change. We're going to change quickly. We're not going to worry about it. We're going to keep on seeing how it goes.

And what you begin to do you begin to review all these different initiatives, these projects, how are you doing with them? When you look back, Hey, yeah, we got this information. We went from a [00:32:00] 50% chance of success. It went up to an 80% chance, then we had a hundred percent, or yeah, we started with 50%, but then it got lower to a 20% chance of success.

And actually we stopped that initiative early. Thank goodness we did. Yeah, it wasn't great. But had we continued, like we usually would've all that time and money would've been lost. So pick one initiative, figure out what the likelihood of success is. Be open to making changes as you go along for better for worse, and then continue to monitor that.

And then the third strategy, and I love this one, are you the emperor with no clothes?

What do I mean by that?

That you have yes, people around you, they are afraid of speaking what's on their mind. They're afraid of, Hey Jeffrey, this really isn't going to work, and here's why. And they're just nodding their head and smiling and leading you and the team to complete failure.

So I want you, in your culture, have a ritual where you have open discussion and you can agree to disagree. And it's okay. We're going to be professional about it. Hey Jeffrey, I don't agree with it. Here's why. Okay, yeah, I hear you on that, but we're still doing it. Okay, I've shared what I've had to share.

You know what my thoughts are. You [00:33:00] want to go this way we'll go this way. But at least I put it out there. Have that culture where it's okay to agree to disagree, because when you do that, it uncovers blind spots and it helps build buy-in.

Why?

Because when you start with the ground rules that, okay, it's going to be constructive. This is not going to be judgmental, we're not going to be finger pointing here, we're just talking about it. That's where everyone begins to participate. And we now all have a buy-in. Hey, I was part of the strategy, I was part of the process. I want to make sure that it wins because my name is now attached to it.

And by the way, when we take this from the front of the line team members all the way through to our leadership team, we're getting feedback we likely would not have gotten so we can make better decisions and we have a culture of transparency. It makes a huge difference. I want you to try that.

 And as always, the best strategies in the world, and these strategies are world class and they are from the trenches. If there's no action, it means nothing. You always have to take actions. So I want you to think about that.

And I know Deep Wealth Nation, we have covered a lot. 

So let me do a [00:34:00] recap. Let's begin to wrap this up.

We've unpacked three powerful profit multipliers. Customer-centric innovation. And when we do this, when we speak to our customers, when we get their feedback through input, it helps to drive loyalty and retention. We have dynamic resource allocation, and this is where on the spot, on the fly, we're okay to change how our time, our capital, our focus, where it's going to towards that can help us unlock hidden efficiencies and also hidden inefficiencies.

And then probabilistic planning for bold moves. This is where we're taking calculated risks to win. They're not ideas. These are battle tested from the trenches. They come from the Deep Wealth 9-step Roadmap. They work, they can genuinely help you increase your revenue, your profits, while securing your financial freedom later on down the road.

And best of all, you don't need outside capital to do this. You don't need to hire a whole team of people to do this or massive overhauls. These are small micros that you can begin to do right now.

So whether your profit [00:35:00] has been eroding, whether you've been stressing out on scaling or the all too common loneliness at the top, I want you to remember you are not alone. These strategies, yes, they can work for you. They can give you empowerment, you and the team hope. Looking back when I was once where you are Deep Wealth Nation, I was distracted.

I was cynical about any kind of quick fix about pouring my heart and soul into a business that just felt stuck. But when I began to embrace these multipliers, that's when things changed here. Now, today, coming out of this episode, you have the exact same opportunity, the same potential, and remember, it's taking small, consistent steps day over day.

That's what helps you grow sustainable profits. They add up to huge results.

And what I love about this, and especially the Deep Wealth Mastery System, it makes it straightforward, our 90 day system, it's grounded in proven real world strategies that no other program offers because it's the only one that comes from a 9-figure exit deal.

So what can you do coming out of this episode today?

Firstly, if you haven't [00:36:00] done it already, please subscribe to the Deep Wealth Podcast right now, where you'll get weekly insights that can make a difference to take you from where you are to where you want to be. And as always, no fluff. It's all about strategies that work.

The second thing I want you to do, share this episode with a friend, a fellow entrepreneur, a team member, maybe your fellow friend running a different company is going through some similar pains. Why you be the one that can give some encouragement that they need to help take their company to the next level? Because again, as entrepreneurs, we are the ones that are changing the social fabric of society.

And then third, email success@default.com. Again, success, S-U-C-C-E-S S [at] deepwealth [dot] com.

And in the subject type in profits and I will send you a free resource. You'll learn all about that with what we talked about today with proven checklists and steps of what you can do. Again, email success [at] deepwealth [dot] com. You know it. S-U-C-C-E-S as at Deep Wealth dot com. And in the subject put [00:37:00] Profit and you'll get some free resources to help you along with your journey.

Well, depap Nation, there you have it. It's official, it's a wrap. And as I love to say, may you continue to thrive and prosper while you remain healthy and safe. Thank you so much for joining me on this solo episode and as always, God bless.

So there you have it, Deep Wealth Nation. What did you think? 

So with all that said and as we wrap it up, I have another question for you.

Actually, it's more of a personal favor. 

Did you find this episode helpful? 

Have you found other episodes of the Deep Wealth Podcast empowering and a game changer for your journey? 

And if you said yes, and I really hope you did, I have a small but really meaningful way that you can actually help us out and keep these episodes coming to you.

Are you ready for it? 

The dramatic pause. I'll just wait a moment. Drumroll, please. Subscribe. Please subscribe to the Deep Wealth podcast on your favorite podcast channel. When you subscribe to the Deep Wealth Podcast, you're saving yourself time. Every episode automatically comes to you, and I want you to know that we meticulously craft Every one of our episodes [00:38:00] to have impactful strategies, stories, expert insights that are designed to help you grow your profits, increase the value of your business, and yes, even optimize your post exit life and your life right now, whatever you want that to look like.

And every time you subscribe and a fellow entrepreneur subscribe, it's a testament to how together, Yes, we are. We are changing the social fabric of society. One business owner at a time, one liquidity event at a time. So don't let the momentum stop here. Subscribe now on your favorite podcast channel.

You'll never miss an episode. You'll be the first to hear from the top industry leaders, the innovators, the disruptors that are really changing and shaping the business world, and maybe you're commuting, maybe you're at the gym, maybe you're taking a well deserved break that we spoke all about on this episode.

The Deep Wealth Podcast, it's your reliable source for the next big idea that could literally revolutionize your business. So once again, please hit that subscribe button, stay connected, inspired, and ahead of the curve. And again, your next big breakthrough moment, it might just be one episode away. [00:39:00] Maybe it was even this episode.

So all that said. Thank you so much for listening. And remember your wealth isn't just about the money in the bank. It's about the depth of your journey and the impact that you're creating. So let's continue this journey together. And from the bottom of my heart, thank you so much for listening to this episode.

And as we love to say here at Deep Wealth, may you continue to thrive and prosper while you remain healthy and safe. 

Thank you so much. 

God bless.