“Just because the existing system doesn't work for you doesn't mean that there is no system that does.” - Beate Chelette
Beate Chelette is the Growth Architect and Founder of The Women’s Code and provides visionaries and leaders with strategies that grow your authority so that they can scale their impact.
A first-generation immigrant who found herself $135,000 in debt as a single parent, Beate bootstrapped her passion for photography into a highly successful global business and eventually sold it to Bill Gates in a multimillion-dollar deal. She is amongst the “Top 100 Global Thought Leaders” by PeopleHum and “One of 50 Must-Follow Women Entrepreneurs” by HuffPost.
Recent clients include Amazon, Reckitt (the maker of Lysol), Chevron, Merck, Johnson & Johnson, the Women’s Legislative Caucus of California Cal State University Dominguez Hills, Shelter Inc., Mental Health First Aid and thousands of small businesses.
Beate is the author of the #1 International Award-Winning Amazon Bestseller “Happy Woman Happy World – How to Go from Overwhelmed to Awesome”–a book that corporate trainer and best-selling author Brian Tracy calls “a handbook for every woman who wants health, success and a fulfilling career.”
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Your liquidity event is the most important financial transaction of your life. You have one chance to get it right, and you better make it count.
But unfortunately, up to 90% of liquidity events fail. Think about all that time, money and effort wasted. Of the "successful" liquidity events, most business owners leave 50% to over 100% of their deal value in the buyer's pocket and don't even know it.
Our founders said "no" to a 7-figure offer and "yes" to a 9-figure offer less than two years later.
Don't become a statistic and make the fatal mistake of believing that the skills that built your business are the same ones for your liquidity event.
After all, how can you master something you've never done before?
Are you leaving millions on the table?
Learn how the 90-day Deep Wealth Experience and our 9-step roadmap helps you capture the maximum value for your liquidity event.
Click here to book your free exploratory strategy session.
Enjoy the interview!
[00:00:00] Jeffrey Feldberg: Welcome to the Deep Wealth Podcast where you learn how to extract your business and personal Deep Wealth.
I'm your host Jeffrey Feldberg.
This podcast is brought to you by Deep Wealth and the 90-day Deep Wealth Experience.
When it comes to your business deep wealth, your exit or liquidity event is the most important financial decision of your life.
But unfortunately, up to 90% of liquidity events fail. Think about all that time and your hard earned money wasted.
Of the quote unquote "successful" liquidity events, most business owners leave 50% to over 100% of the deal value in the buyer's pocket and don't even know it.
I should know. I said "no" to a seven-figure offer. And "yes" to mastering the art and the science of a liquidity event. Two years later, I said "yes" to a different buyer with a nine figure deal.
Are you thinking about an exit or liquidity event?
Don't become a statistic and make the fatal mistake of believing the skills that built your business are the same ones to sell it.
After all, how can you master something you've never done before?
Let the 90-day Deep Wealth Experience and the 9-step roadmap of preparation help you capture the best deal instead of any deal.
At the end of this episode, take a moment and hear from business owners like you, who went through the Deep Wealth Experience.
Beate Chelette is The Growth Architect and founder of the Women's Code and provides visionaries and leaders with strategies that grow your authority so that they can scale their impact. A first-generation immigrant who found herself $135,000 in debt as a single parent. Beate bootstrapped her passion for photography into a highly successful global business and eventually sold it to Bill Gates in a multimillion-dollar deal.
She is amongst the Top 100 Global Thought Leaders by PeopleHum and one of the 50 Must-Follow Women Entrepreneurs by Huffington Post.
Recent clients include Amazon, Reckitt the maker of Lysol, Chevron, Merck Johnson and Johnson, The Women's Legislative Caucus of California Cal State University Dominguez Hills, Shelter Inc., Mental Health, First Aid, and thousands of small businesses.
Beate is the author of the number one international award-winning Amazon Bestseller, Happy Woman, Happy World, How to Go From Overwhelmed to Awesome. A book that corporate trainer and bestselling author Brian Tracy calls a handbook for every woman who wants a health success and a fulfilling career
Welcome to the Deep Wealth Podcast, and wow do we have a terrific episode lined up for you, we have a business owner who has had a liquidity event, and not just any liquidity event. You heard a little bit about that in the formal introduction.
We'll go more into that shortly. And we have the Business Growth Architect, thought leader, podcaster, all those things, and many more so Beate, welcome to the Deep Wealth Podcast. It's an absolute pleasure to have you with us. And there's always a story behind the story. Beate, what's your story?
What got you to where you are today?
[00:03:25] Beate Chelette: First of all, thank you so much for having me, Jeffrey. I was really looking forward to this. I think that when we talk about selling your business, getting ready for an acquisition, a transition, liquidity event, that's really the fun part in business. That's what we hope for, what we work for.
I'm originally from Germany. My name is Beate. I'm known as the growth architect, and I work with visionaries and leaders, people that have big ideas, experts who want to scale their impact and grow their authority. And what we do is we design the strategies, the blueprints, and the systems to really help them in the operational capacity to make sure that everything is lined up, set up that you know, that geeky stuff makes sense for people that are not geeky and that all the things are covered. So we know what we are doing, who we are doing it for, what problems we are solving, and why anybody would even listen to what you have to say. And my story is that I immigrated from Germany. I originally have a photography degree.
Come from the creative arts. Love the creative arts. It's probably my love for you nonconforming weirdos because I'm used to them, Jeffrey and I came to the United States after I was a photo editor at Elle Magazine because very early on I realized I was a better business person than an artist. But, you know, kept my love for the arts.
And then build businesses around photography, photo production, photography representation, and then finally stock photography. That was then the business that I ended up setting up and selling.
[00:05:00] Jeffrey Feldberg: Okay. And of course, being on the Deep Wealth Podcast, which is all about selling a business. I'd be remiss we didn't talk a little bit about that, and so it wasn't just any sale of your business that you had. There were some personalities involved with that. You're being very modest with us. So, Beate what went on with the sale of your business?
Why don't spill the beans and the introduction did that already, but why don't you share with us how did that happen? What led up to the sale of your business to an infamous person will leave it at that in, in terms of what people think. And you and I would just talk about the facts of your Exit, your liquidity event.
So what happened exactly?
[00:05:36] Beate Chelette: Yeah, so basically what happened is that very much like many business owners, Jeffrey, you, and I, we talked about this a little bit before the show where you talked about that you were living in the attic at your parent's house and the journey of an entrepreneur oftentimes isn't the story that she woke up a princess and then great things were handed to her, and then one day somebody says, hey, you wanna be queen?
They showed up with the crown and then I lived heavily ever after. To the contrary, the story is really a absolutely brutal story of 13 years of adversity that includes fires, floods, riots, earthquake, a tsunami, September 11th. A lawsuit and just about anything that you can imagine. I didn't know I was gonna add a pandemic to my epic ever-growing repertoire, but that's just as a side note, short of a hurricane.
I really feel like I've done most of these disasters. And so every time I felt I was a step ahead, then somebody would come with a big fed frying pan and whack me over the head and I'd lose a part of my business. Or I lost my business entirely. Or somebody betrayed me. Somebody stole, somebody withheld commission.
Somebody said if you want your money, why don't you sue me? But I'm not gonna pay you. You know It's like all this horrible stuff that always happens to other people. It was just that this other person that this happens to, that was me. And you get to a point where you say, Okay, enough already. Now I'm $135,000 in debt, and the lawsuit just settled.
I am now building this new business, but I have no money because I ended up with nothing after a big, fat, proud fight that I won. But I ended up with nothing anyway. And you were running up a spiral staircase as quickly as you can, trying to put it all together. And I realized in that moment that the next business I wanted to build had to be an equity-based business.
I was gonna make money when I wasn't there. And that was the criteria. And I knew that I never wanted to happen. What had happened to me over and over again, and I was gonna build this business based upon certain criteria, which meant that I would hire people that were doing very specific jobs.
I would never give one person this much power again over my business or insights into what I was doing. I learned so many lessons along the way that you need to go after the A-listers, not the B or the C level. You go straight to the top. And then I was so broke. I went to Europe to drum up some business.
My father has a stroke. He didn't have a stroke. He had pancreatic cancer. He died within 6 weeks.
[00:08:10] Jeffrey Feldberg: Oh my goodness. So sorry to hear that.
[00:08:11] Beate Chelette: I'm standing at the grave in Germany paying for a funeral on money I don't have and then my phone rings and it's my office in Los Angeles. Now we are being thrown out of the place that my office and my house is in.
And that was sort of the moment of surrender. I fell on my knees. I raised my fist. I yelled at God, I said, If you have a plan this would be an excellent time to fill me in. And then you just surrender because you've really done everything you possibly can. I had done it all. I had it put all on the line.
This was now out of my hands. I come back and I get a letter from the White House because in my desperation I had written a letter to the White House, to the President of the United States. True story and I was so desperate that I said, Hey, Mr. President. I've done everything right. I don't know what's happening.
I need help. Sure enough, this letter went to the small business administration, to the deputy chief director, not some underlink to the second in command. I walked in with my business plan and he said to me, I'll put in what you put in. A couple months later, they found me a bank that was gonna restructure all my credit card debt into a fixed 10-year. That freed up my line of credit. Now, I could do the things that I needed to do and three months later I'm break even. This is how close this was between bankruptcy Jeffrey and between break even three months, that's all there was. This is how close I was, and then I realized that I had a product that nobody knew how to do and I was in stock photography's indication, meaning photographers and the architecture in the design world would take images of houses for magazines and for books and for projects, but they retain the rights and then these images would be available for resell licensing. And so I was in the position where I then started to resell these images.
That was the business model. I hadn't even thought about that part of when you go after the A-listers, that they work with A-listers. So now suddenly I'm getting the homes of Madonna, Francis Ford, Seal, and Julian Moore, like the top movie stars, and who is who in Celebrity World?
On my desk, my photographer saying, Do you know what to do with those? I said Well, I was a photo editor at Elle Magazine, so of course, I do. So I became the world's leader in this particular category of reselling these at home stories for celebrities. Now, I did not invent the category, but I made that category.
I was a leader in that category that attracted a Bill Gates company privately held by Bill Gates, and they knocked on the door and they said, Beate, would you be so kind and tell us how you do it? And I laughed and I said, Absolutely not.
[00:10:56] Jeffrey Feldberg: Good answer.
[00:10:57] Beate Chelette: Because you want it,
[00:10:59] Jeffrey Feldberg: That's right. If you can't beat me by me
[00:11:01] Beate Chelette: You can't beat me by me. And they said, How much do you want? And I said it needs to be, multiple seven figures. And they said, Okay. And 18 months of the worst moment of my life. I close the deal with the Bill Gates company and became a self-made multimillion.
[00:11:17] Jeffrey Feldberg: Wow. So not to oversimplify, but talk about truth being stranger than fiction. So here you are, you're a footstep away, literally from being out on the streets, broke. No money. The unfortunate passing of your father. So sorry to hear about that. And at a desperation, you send a Hail Mary letter to the President's office just because you had no other idea I suppose at that time, you know what to do, but they get back to you.
You know, one of the top people there gets back to you. It helps you restructure things and boom, you take a category, you make it your own, and then a Bill Gates Company buys you and off you go. What a story truth truly is stranger than fiction.
So looking back at that, just before we talk more about what you're doing today when you look back at that, and for our aspiring business owners who are listening saying, Wow, maybe that's gonna be me one day where I do the right things in business. And I'm in the fortunate position of having a terrific liquidity event.
What worked for you? Because you had no idea it was gonna happen that quickly and that it was gonna come along the way that it did. But in building the business and when you took that category, you made it your own. Were there some strategies that really made a difference for you that you can share with us?
[00:12:29] Beate Chelette: Yeah, I think that there's a lot to unpack here, so I'll focus on some of the most important things that I believe everybody really needs to understand. Number one, what I said earlier, the journey is not a journey of 600 thread bedsheets and down feather pillows. It generally, and this is almost without exception with everybody I know and that I work with today, there is a lot of hard of hardship.
A lot of push and pull and a lot of desperation often that come with being successful. The second piece is that if you think you are in charge of the journey, you're delusional because you are not in charge of the journey. You're in charge of two points, your starting point, and your end goal.
But if you think that you well can figure out the path there, that's just not gonna happen. That's up to our higher power, whatever you believe in, whatever you wanna call it. But if you would've told me that a letter to the president of the United States that I only wrote because my former mother-in-law just wouldn't be quiet about it. She kept nagging and nagging, He's your president. If anybody can help. He's the president. He's the president of the all people in the United States. If he's the president, if you know anybody has power, he, I'm like, Okay fine. I'm just gonna write the letter. So you do not talk to me about this anymore.
That's the only reason I wrote the letter, because who the heck writes a letter to the President.
[00:13:57] Jeffrey Feldberg: And Beate let me just pause you there for a moment because for our listeners, there's an old saying, the squeaky wheel gets oiled and so talk about being the squeaky wheel you just wrote. You wouldn't have written that letter unless. You know you wrote a hey. Just get off my back.
I don't wanna hear it anymore. I'm just gonna do it. Leave me alone. And, but boom, look at what happened because of that.
[00:14:14] Beate Chelette: Exactly and so this is really the part of the message that I wanna really instill on your listeners, Jeffrey is opportunity shows up as a challenge or as something stupid idiotic where you go like, yeah, why would you even waste your time on that? That was the game changer in everything because it, that really made a much faster.
A change could I have gone to the SBA? Sure, I could I have done all this. Sure I could. But it was a letter from the White House that put that emphasis on where somebody says here's somebody extraordinary, because this is how far this woman is willing to go.
So We need to check her out.
And so that is, the other part is that as the journey unfolds, you almost have to take a step back and watch the journey unfold and say okay, this is interesting. Why not? Why not write a letter to the president of the United States and why not? Do this. Why not try this?
Why not? So you go through that. Then the next part is failure or the perception of failure. You really have to change your perception of failure. So failure, I tell a story that if you are driving your car and you have a GPS, you should have updated the GPS, but you didn't. Now you're in the car, you go, the road is blocked, they're building a freeway extension, it's a cul-de-sac.
You are not getting your usual way to where you wanna go. You are not getting out of the car. You don't throw yourself on the road. You don't throw a temper tantrum. You don't go, I can't believe this GPS is so mean to me. You, man or woman up. You say, Darn, you know, I should have updated that GPS.
Your destination is still there. You just go turn around and find a different way.
But if you look at failure somebody even nice enough with a big stop sign that says do not go here. This is not the way. Stop arguing with a stop sign.
[00:16:12] Jeffrey Feldberg: And it's you know what it's so true. Sometimes despite ourselves, we're just so persistent and I'm not gonna quit till I get it done, but the universe, or whatever you wanna call it, is sending you the signs. It can't get any clearer. But just that stubbornness, we don't know when to quit and when to change and take a different direct.
[00:16:30] Beate Chelette: absolutely correct. So I now look at failure, and oftentimes failure costs your time and money. But you look at it and you say this is even right for me. I give you another example to make this like very clear. So everybody talks about going viral and social media. So we said we know people who are doing incredibly well with their Facebook groups and they masked at the art of making posts go viral. So we signed up, we put some money down, we put some manpower behind it, somebody went there, and then she came back and she says, The kind of posts that go viral are the posts that Say what you do without saying, your profession. And then you get a thousand comments that say, I make people happy.
And which is absolutely useless for your business. Useless. So you look at this and this is the type of stuff that goes viral. That's the content we would have to produce to follow this strategy. I don't think so. It's not where I live. And the only people that we found on Facebook that have the time to do that are people that are not full-time business owners, that are, a lot of times moms that are doing a side hustle and they live on their phones in Facebook and community.
Those are just not our clients. So we walked away from that strategy, so that was a mistake or a failure, but to us, it's not because now we excluded that as a strategy that we want to follow because it just doesn't work for us.
[00:18:05] Jeffrey Feldberg: Smart. Just, you know, March into your own drummer doing what feels right and for our listeners who are more on the logical side where everything falls into a complicated formula in a spreadsheet. What were talking about now is frustrating for them. What do you mean? It just didn't feel right.
So you didn't do it. Like how does that add up? Where did you get that? It was a gut instinct or I just knew, I can't tell you. I just knew. But that's a whole part of building a business, a liquidity event. It's that whole art side of things. So let me ask you this, because Beate, listen, you've been given all kinds of accolades for your just Huffington Post as being one of the top influential women out there.
You wrote a bestselling book, by the way. Love the title of what you did with the book and will have that in the show notes. Happy woman, Happy world. How to go from overwhelmed to awesome. Absolutely love that. And then, you take what you've learned and you put that together in a system. And one of the things in your system, you call it your five-star success blueprint.
So listen you've earned your stripes. You didn't realize it at the time, but you got a Ph.D from one of the most prestigious institutions worldwide. The School of Hard Knocks. You earned your Ph.D.
[00:19:14] Beate Chelette: I know, I know. Yeah.
[00:19:16] Jeffrey Feldberg: So tell us about your system now. So tell us a little bit about how you're helping other business owners, what the Five Star Success Blueprint is, what your system's all about.
Why don't you walk us through that?
[00:19:26] Beate Chelette: Yes, I'd be happy to. I like the way you go about it, Jeffrey, because okay, let's land the plane here. So this was all great, so let's make it implementable and tangible for your audience. So I want you to really think about that when we look at business, there is a definite cadence and a formula on how things grow.
There just is. It exists in nature and it exists in business. So the Five Star Success Blueprint I designed, you know, after the thousands person comes and says, How do you? So in the first star, you look at your idea. What is the idea? Is the idea clearly differentiated? What makes you the expert on this idea?
Who is your ideal buyer and why are you the person they should be buying from? All of this has to be answered in this first star. Only when you've done this are you allowed to go to the second, which is making the offer. Cause unless you know who the person are that you're selling to and what the problems are that they have and that you can solve, you can't really make an offer.
And this gets done so wrong all the time that they make the offer and they in love with their offer. They completely forget to figure out what it solves, and then it can understand why it's not selling well, here's why because you missed, you reversed the steps. So you have to go back to number one and then go back to the offer and adjust the offer so that it actually solves the problem for the person you just identified because, and you obviously must test the idea.
[00:20:58] Jeffrey Feldberg: Just quickly jump in there. I mean, I'd love what you're saying with that. And a question for you, and it is very similar to our nine step road map that we have in the 90- day Deep Wealth experience. And when you're talking about figuring out what problem you're solving our lingo for that is, hey, tune into the world's favorite radio station, wwii.fm, The what's in it for me radio station of what problem do you have?
How can I solve it? And the more painful the problem, the better. But here's a question for you. For some business owners, they just, for any number of reasons, they just fall in love with their idea and they get blinded by it. And in their minds, they think, Okay, this is the best thing since slice spread, but it really isn't.
And they may be saying you know what? I've done the first star, I've identified the target audience. I've figured out what the problem is. They're falling flat on their face, but it's everyone else's fault. But what would be some telltale signs that, hey, maybe it really is the idea?
[00:21:48] Beate Chelette: Your spreadsheet, your cash flow, if it's not selling, and if people don't get it or you get a puzzled look or you get a lot of excuses, then you're not hitting the mark. It's as simple as that. Oftentimes, it's a simple repositioning. We had a program that we launched for creatives where we says, Do you want to make more money?
It was talking about making more money. It felt flat on the nose when we changed the language to Do you want to find more clients? Suddenly the program sold now isn't finding more clients equivalent with making more money.
[00:22:20] Jeffrey Feldberg: It's always interesting. Yeah. The market is always right. Doesn't matter what we think. It's the market that's always right and we have a lot to learn.
[00:22:28] Beate Chelette: Yeah, exactly. I think this is the part where we just have to take ourselves out and look at the results and say if I'm really honest here, is it working or is it not working? And the proof is in the pudding. It doesn't matter what I think. I had a case once, you're gonna get a kick out of this Jeffrey.
And that was another photographer I spoke to. And then she says like I'm a pearl in an oyster, and I started laughing and I said, Good luck waiting for a diver.
[00:22:53] Jeffrey Feldberg: I like that. Good one. Yeah.
[00:22:54] Beate Chelette: So if that's the kind of clients you want that need to put on a wetsuit, have lessons in diving so that they can find you. That's a pretty rough business model. I digress. So anyway, so that's why it's so important that when you are in love with your offer, but your offer doesn't sell, you do need to just go back.
And if you can't do it yourself, hire somebody who can help you with that. I mean, there's enough business coaches, consultants, Jeffrey, you do amazing work. Just find somebody who can help you straighten this out. You get some clarity on that. So once you have the offer now, and only now are you moving to the systems, because now we need to figure out standard operational procedures, strategies, workflows.
How do we now get this offer to this person that we are selling to, to solve the problem that they're having? Once you have built your automation, your systems, only then are you allowed to hire, because then you need the people who operate the system who can manage the offer, that then solves a problem for the client, and then gets us to the fifth star.
That's you as a leader because then you need to look what kind of leader do you need to be to lead the team that manages the systems, that hands the offer, that sells to clients, That solves the problem.
[00:24:05] Jeffrey Feldberg: Wow. So you know a lot to unpack there, but there was something that would be really easy to miss for listeners that, let's go back and talk about that because we were talking about the system. Before you hire anybody, you essentially said, hey, figure it out yourself. Make sure that it works. And then you go and hire people.
And all too often that isn't done and you and I will both agree that it's not scalable when you went through that in your business. When any business owner goes through that in his or her business, it's not scalable, but it's absolutely necessary. Can you share with our listeners why that's so important that they go through this themselves and they experience the pain, the failures, and everything else before they bring on other people?
[00:24:43] Beate Chelette: For a couple reasons. So number one, you need to know enough to know if somebody's doing a good job
If they're hitting the mark. And once you've done it, you know if they're better than you are, and they better be better if you hire them than you are. On whether that's the programming, the CRM, the building the landing page, the whatever it might be.
If somebody comes in and makes it easier and faster and better looking than you can, then you know that is the right person. The second reason is that business owner have a tendency to have an exaggerated idea of their own capabilities, and then they go into a hiring program or hiring frenzy.
It's called Mini Me Cloning and they try to find people who are just like them so that a lot of them can then do all the same things, equally terrible, 10% here, 10%
and that is the biggest hiring mistake I see with growing companies is that the owner doesn't know that people who are different than he or she is, those are the people that really need to be brought in because you want that additional viewpoint.
I was just in a call and a sales strategy call with one of my clients and one of the team members constantly kept pushing back on everything I said. She's but if we do that then people feel like we're pushing things on them. Like really pushing back hard.
There was a part of me where I go Geez, girl, where are you coming from? Why are you giving me such a hard time? And then, I thought about and I said, You know what? Thank you so much for pushing back. Cause we will have clients that will feel like this. We need to be prepared to have these kinds of arguments and to also be better at explaining to our own team why our strategy and our method make sense. If we can't even convince our own team that what we are doing is good for our customers, then how can they possibly sell it?
[00:26:33] Jeffrey Feldberg: Absolutely. You're a big proponent and really someone that other women business owners can look up to. And so let's talk a little bit about for our female listeners who are running their own businesses.
It's not easy being a woman in business today. And maybe it's an outdated term. I'm gonna use it anyways. It's really a man's world still despite where we are. And that gains in the progress that's been made. And it makes it that much harder for women.
So for our women out there that are listening in the deep wealth community, Beate, what strategies can you give them that you found worked for you that they can take, make them their own and help them get to the next level?
[00:27:10] Beate Chelette: Yeah well, number one, I really recommend you to get my book. Happy Woman, Happy world because it is really a strategic book for women that are working women that want to have, they wanna have it all. Not really compromise or they're frustrated because they constantly get these conflicting messages. So number one, there has to be a very clear awareness that the messaging that we as women receive just doesn't even make any sense.
How can I be taking care of myself and being successful on my own terms at the same time being soft and feminine and know where my place is? How can I be feminine at home and then being in business and charging hard, how do I shift from one out of the other?
Is it even possible? What are these strategies? So for the women listening, I would say number one, you've got to do a lot of self development to get very clear of who you are. And then you do something that I call the unapologetic value proposition. You take the things that you are very good at and those become your hero and that's all you are allowed to talk about.
Because our society, especially men, are trained to make, especially women, feel insecure by trying to find something that we are not good at and then hanging us up on that until we trip. Cuz that's how you take out 50% of the competition and you can do that very quickly because women fall for this all the time. You don't have my permission to fall for this anymore.
[00:28:36] Jeffrey Feldberg: And Beate can you give us an example of that?
[00:28:39] Beate Chelette: My favorite example in the world. You're so emotional,
[00:28:42] Jeffrey Feldberg: Oh my goodness.
[00:28:43] Beate Chelette: There is not a woman in the world that has not heard that at a negotiation table. That has not heard that at home. And if we really take this apart anger is an emotion. Obviously, everybody has emotion. It's so stupid to say, but it's become a thing that it is okay to say, and men oftentimes get away with it.
And then it's one of those things that makes women furious because it is so idiotic. Now what happens is if you take the bait, you already lost because then you're giving your energy.
Power to an energy of such low nature that you've already lost. And so if you are in business, in negotiations, in a room full of the boys, I'll give you one of my favorite strategies.
I just talked about this yesterday, another podcast, and we called it the Checkmate Strategy. And it is so simple, if somebody says something to you that's outrageously stupid, this is what I want you to do, All right. So what I was saying, that's it.
[00:29:54] Jeffrey Feldberg: You're laughing them out of the room and just dismissing it with your confidence and what I love about that, you haven't said a word, but your reaction says it all.
[00:30:04] Beate Chelette: Yeah. You literally laugh. And you give them this look of just, did you just say that actually? So you just laugh and then you move on, you take your power back and you say let's get back to point number three. What I was saying is, and you just put him on a checkmate move. There is no coming back from this.
What is he gonna say? Is he gonna say, you didn't answer my question? Why are you so emotional now? He sounds like an absolute idiot.
And so that really is my biggest advice for women. Don't take the bait because there's you get baited 24/7 and you need to really give this a moment, and you can even give this a moment in a situation like that where you pause, you give this a little bit of thought. And then you'll just laugh out loud and you say, Wow, that was amazing.
Interesting comment, but you give it no value because the minute you say something, it's like, How dare you say that to me? Or That is so sexist, or that's so racist, or, that's really an inappropriate thing to say. Now you sound like you are a difficult insecure woman who has to justify and then this person just won.
And you cannot let that happen. So for women, you just have to be better. You have to be aware, clear who you are, know your strength. If somebody comes and says to you in a performance review or in any kind of setting, he's like, Wow, your Excel pivot tables. I really feel like you need to be working on those. And then you do the same thing. You just look at them, you start laughing and you say, Pivot tables, are you serious? Mary does that for me, my strength is closing deals.
[00:31:36] Jeffrey Feldberg: Nice. You're just twisting it and turning it, but you're taking it to your advantage and bringing your strength forward as you should. So let me ask you this, business owner comes to you and says, Okay, you know, read the book. Thank you very much. Terrific. Sounds terrific. I listened to your podcasts and some of your articles and everything else wanna become a client, I'd like you to help coach myself, my team, my business.
So what does that look like for you when you step in and you begin that process? What can I expect?
[00:32:07] Beate Chelette: Yeah, so the first thing that we do is we go in what I call an uncovery session. So I have a couple questions because I have a system, so I use my system to diagnose very quickly. Takes me about 30, 45 minutes, and then I'll know exactly what's going on in the business most of the time there's a misalignment or there are pieces that are missing or not properly put together or somebody, forgot to do something or they avoid doing something.
Yes, I am talking to you sometimes when we know it's not our strength, we'll do anything and the so drawer to avoid that thing that we know we are not good at, even though we know that's the thing that we really need to be leaning in. So, I'll just come in and I'll help 'em to identify in this uncovery session.
Where the issue is, and it's usually a strategy or it is that they don't have a signature system that sets themselves apart where they have that uniqueness and that if you want to sell your business to have a signature system, a signature growth system, where you are now the creator of a method that can be duplicated.
And taught by other people and implemented, now you're adding massive value to your business. So I do that a lot where people come to me and say I feel I sound like everybody else. How do I set myself apart? How do I position myself properly? How do I tell potential investor where the big opportunities are?
So we built the system and then based on that, we go in and we decide, what format it is that we are working together. On whether that is a retainer, whether that is a designed program where I go in and do something, which is my preference, is because in the German engineering that I so appreciate, I like to go in with an objective, get the job done, and then have the organization humming along.
I like to come in when I'm needed, but I prefer not to be there 24/7. Because that's not, I think what my strength is. My strength is to come in, get the job done, get out, move on, and then just be there if they need me and that's it. And results are amazing. We see a lot of people, and I always have to say results are not typical, but it is not uncommon that somebody walks out and has a system.
We had a client out of London whom we helped to put their signature growth system together and she does an ethical framework for AI, for search engines, for luxury brands, and when she left, she finally knew how to articulate the process that they had to go through to make sure that AI, as it was being used, was ethical.
And she closed a $50,000 deal like a week later.
[00:34:49] Jeffrey Feldberg: Wow. Terrific. Congratulations with that. So, Beate, let me ask you this. You're speaking to a lot of different business owners out there. You're looking at different businesses, and one of my favorite laws out there is Pareto's Law or what some people call the 80-20 rule. And so what I'm wondering is, are you seeing the same problems over and over again?
So 20% of the problems are really creating 80% of the chaos and the failures that's out there, what would those be?
[00:35:14] Beate Chelette: Yes. Yes, a hundred percent. I think it should be a law. It shouldn't just be a rule. I think it's a law that number one, when people come to me, they often have a lot of different things in their business that they cannot understand how to put under one umbrella because it creates a conflict to them, or somebody told them, But I thought you were a coach.
Now you're telling me a consultant. What do you mean you're speaking? Oh, you have an online course. Are you an internet marketer? So it looks like it's seemingly different pieces. They don't know how to organize that. I call this, the organizing of your knowledge. That's one of the biggest problems I see.
The second problem, I see that they have no plan on how to grow, and that means like just a basic growth plan. When I hit this marker, I'm gonna hire, My first hire is a salesperson. My second hire is operations person. My third hire is X so that you have all of these things laid out so you know when you hit a certain marker, what's gonna happen then? And the third piece that I see that is probably the biggest detriment to all businesses that don't have a lead generation system. The client attraction system in place. How are you gonna get these leads coming in? And so we do a lot of different strategy. We have an Instagram strategy, a LinkedIn executive round table strategy.
We have a podcast hosting. We have a podcast guesting strategy. We build strategies around all of these pieces on how to use them to generate leads, cuz without leads, you don't have money. Without money coming in, you don't have a business.
[00:36:51] Jeffrey Feldberg: Makes a whole lot of sense and you make it sound so easy, but often it isn't. So would those be the three top problems that you typically see day in, day out?
[00:37:00] Beate Chelette: Systems, strategy, and authority.
[00:37:03] Jeffrey Feldberg: Okay, and you've given us some terrific insights in terms of how to spot it, what to do, and then with your five-star system, and then with your coaching and your consulting to come in and get that out there. Let me ask you this. We're about to transition and start to wrap things up, Beate, I'm wondering, when you look at all the different strategies the ones that we spoke about, even the ones that we didn't speak about, If a listener walked away and they can only walk away with one thing, one strategy to follow, what would that be for them?
[00:37:30] Beate Chelette: I think the biggest strategy. I would say is fail faster. In, essence, because it changes the way you look at your openness to look at strategy. Because if you look at this from a perspective of I wonder which of these I can eliminate that do not work, then it'll get you closer to the ones that do work, like the detachment of the outcome and curiosity, and losing the fear of failure.
I think that in my life. Once you change that, everything else changes because you don't have attachment and judgment. And the judgment of that is what destroys your confidence, your self-esteem, your desire to move forward, your motivation. And so if you can curb that, then you'll just go well, that's so interesting.
That didn't work. Okay, note it. Now I'm moving on to the next one.
[00:38:22] Jeffrey Feldberg: I love that. Fail fast and for our listeners, keep that in mind. But now let's go from business to personal. Although sometimes they're really one in the same. It's hard to tell the difference. But let's do a quick thought experiment Beate as we start to wrap things up here. And I want you to think of the movie Back to the Future.
And in the movie, you have that magical DeLorean car that can take you to any point in time. So here's the fun part, Beate imagine is tomorrow morning you look outside your window and there it is. The DeLorean car is not only there, but the door is open. It's waiting for you to hop on in. And so you do, and you can now go to any point in your life, Beate, as a young child, a teenager, whatever point in time it would be.
What are you telling your younger self in terms of life wisdom or lessons learned, or, hey, Beate do this but don't do that. What would that sound like?
[00:39:12] Beate Chelette: I probably would go back to myself when I was in school and I was failing miserably because I was the dumb kid and I had an F in Latin and an F in Math and you know, my mother was so worried on whether or not something would ever become out of me. What I probably would tell myself is that just because the existing system doesn't work for you doesn't mean that there is no system that does.
[00:39:37] Jeffrey Feldberg: Oh, I love that. Love that. Yeah.
[00:39:40] Beate Chelette: The challenge in life is to endure what doesn't work until you can determine for yourself what does work. And I learned that, I was not that great with languages, but then I immigrated to the United States and what do you know? In no amount of time, I learned how to speak English really well and to the extent I can write in English and I have a German accent, but I don't have the heavy zanega accent Ya. So you suddenly go wait a minute. So I've always had this capability, but I didn't know that I did what was wrong. So that really would be my back-to-the-future message to go to everybody who is now in school or who is in that kind of situation where they feel that they're failing.
It is just that this particular system doesn't work for you. I think that's probably why I'm so interested in finding systems because I've learned that very early on. If it's the right system, it will work. You just have to find it.
[00:40:33] Jeffrey Feldberg: Terrific advice and really spoken from the trenches and a lot for our listeners to think about and take away. Beate, we're going to call it an official wrap on this episode and really appreciate your knowledge, your insights, your wisdom. Thank you for sharing it with us here on the Deep Wealth Podcast.
And as always, please stay healthy and safe.
[00:40:53] Beate Chelette: Thank you so much for having me, Jeffrey, and thank you so much for the work that you do and for everybody who has been listening, do not forget to go and subscribe to the podcast. Leave a five star review with one thing you take away from this particular episode, and share this episode with one other person that needs to hear what we talked.
[00:41:14] Jeffrey Feldberg: Ah, so kind. And you know what, Beate, now that you said that I was so caught up in your wisdom, I completely forgot to ask you. So I'm gonna ask you now, if listeners wanna find you online and they wanna reach out to you and contact you, where do they do that? Where's the best place?
[00:41:29] Beate Chelette: Yes. So there's a couple thing. So we have a quiz. It's called the growthblockerquiz.com. You can find out what your number one business growth blocker is, and we talked about strategy system authority. It'll help you to identify what that is. If you want to know the three framework elements for success, you go to successblueprint.biz, find me on social media, find me on LinkedIn, reach out.
Tell me what you're taking away from this. I always love to hear from the audience. Don't be a stranger,
[00:41:58] Jeffrey Feldberg: Terrific. Once again, for listeners, it'll be point and click. It doesn't get any easier. Look for all that in the show notes and for the second time. Beate, Thank you. Thank you so much and keep it healthy and safe. Have a terrific one.
[00:42:10] Beate Chelette: Thank you.
[00:42:11] Sharon S.: The Deep Wealth Experience was definitely a game-changer for me.
[00:42:14] Lyn M.: This course is one of the best investments you will ever make because you will get an ROI of a hundred times that. Anybody who doesn't go through it will lose millions.
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[00:43:23] Lyn M.: The Deep Wealth Experience compared to other programs is the top. What we learned is very practical. Sometimes you learn stuff that it's great to learn, but you never use it. The stuff we learned from Deep Wealth Experience, I believe it's going to benefit us a boatload.
[00:43:36] Kam H.: I've done an executive MBA. I've worked for billion-dollar companies before. I've worked for smaller companies before I started my business. I've been running my business successfully now for getting close to a decade. We're on a growth trajectory. Reflecting back on the Deep Wealth, I knew less than 10% what I know now, maybe close to 1% even.
[00:43:55] Sharon S.: Hands down the best program in which I've ever participated. And we've done a lot of different things over the years. We've been in other mastermind groups, gone to many seminars, workshops, conferences, retreats, read books. This was so different. I haven't had an experience that's anything close to this in all the years that we've been at this.
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[00:44:22] Kam H.: I would highly recommend it to any super busy business owner out there.
Deep Wealth is an accurate name for it. This program leads to deeper wealth and happier wealth, not just deeper wealth. I don't think there's a dollar value that could be associated with such an experience and knowledge that could be applied today and forever.
[00:44:40] Jeffrey Feldberg: Are you leaving millions on the table?
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