Best Selling Author, Thought Leader, and Top Coach Tara Mularkey Reveals The Secrets To Success (#225)

[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. 

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At the end of this episode, take a moment and hear from business owners like you, who went through the Deep Wealth Experience. 

Tara Mullarkey went from being raised by a single mom, leaving the corporate world with no job prospects to building a multimillion dollar online business. Back in New York city, Tara underwrote sold and managed over 500 million in highly leveraged loans in the corporate finance sector, worked for the largest hedge fund in the world, as well as a Fortune 50 company.

After retiring from wall street and corporate America and graduating with her MBA, she traveled the world in India, Thailand, Bali, Europe, Australia, New Zealand, Tulum, Nepal, Morocco, and then started her own online coaching business. 

She's sold multiple millions in coaching program sales and has worked with a range of six, seven, and eight figure clients in 20 plus countries, including some of the top experts in their field over the last 10 years. 

Founder of High Ticket Express recipient of the prestigious Two Comma Club award and author of the best selling book seven Figure Coach. Tara Mullarkey has been featured in Forbes, yahoo finance, ABC, NBC, CBS, Fox, and the Huffington post for her success and leadership in female entrepreneurship. 

She says the time to go all in on yourself is now. 

She lives by the ocean in Fort Lauderdale, Florida, is a Jesus believer loves walks with her dog, boating, golfing, staying in shape and is an avid bachata and salsa dancer. 

Welcome to the Deep Wealth Podcast. And wow do I have a zinger, of an episode lined up for you today. You heard it in the official introduction, but I'm delighted to have a mover and shaker with us today. 

From being on Wall Street to retiring from Wall Street, to becoming a business owner, a thought leader, a best-selling author, the coach of coaches, and now she's changing the world, but I'm going to stop it right there. Tara welcome to the Deep Wealth Podcast an absolute pleasure to have you with us. 

And you know, there's always a story behind the story. So, Tara, I'm curious, what's your story? What got you to where you are today? 

[00:03:41] Tara Mullarkey: Jeffrey, thanks for having me. Super excited to be here with you and your listeners. Yeah, so my story, wow. Well, you know, each of our stories, we could start in a lot of different places, but I'll give the quick background. I grew up just outside New York City and my parents had immigrated from Ireland actually about a year before I was born.

So I grew up in a first generation, very Irish Catholic family. And yeah, lived a pretty like middle class, working class life with some challenges. My parents got divorced when I was 12, and I think that shaped me quite a bit into, I was the eldest of two and so I helped my mom at home and started working at a really young age to try to help out at home.

And so I've always just had that working hard, entrepreneurial spirit, even though went to college, got an MBA, ended up on Wall Street, did corporate for a little while, and realized that was not the life for me. So, that's a little bit of my background.

[00:04:45] Jeffrey Feldberg: Let me ask you off topic, but on topic, what do you think, when we come from that kind of background, do you think we have something more to prove than others?

We just work harder, or it's just in the family dynamic? What do you think is going on with that?

[00:04:57] Tara Mullarkey: Yeah, I think it is like a sort of programming, if you will, that like that our parents just subconsciously give us, because they came with the goal to be better. To make something better than they had. Otherwise they wouldn't have gone through.

Like when we think about now, like moving to another country like very far away, 3000 miles or more away. I mean, that's a big deal. So no one's gonna do that unless they're like in search of something better. And so like, I think that our parents, when we have that experience, they give us, that they are working very hard and they made a lot of sacrifices so that we could have this life.

And I think it's just instilled in us at an early age that for me it was I gotta make something on myself. I gotta make them proud. They sacrificed a lot and so I don't know if they purposely do that or it's just like underneath. And, you know, first generation, if you're very close to the parent, or grandparent, if it's close to you in generations we usually all have a very similar way of being, right?

Like we're gonna go out and do something and make something of the sacrifice that our parents make.

[00:06:08] Jeffrey Feldberg: Absolutely that's certainly the game plan. And so let me ask you this because with your background and what you did and what you've accomplished, a half billion dollars in loans that you had set up and created and Wall Street. And I don't know I, I hope I'm not politically incorrect. It seems to change by the minute here, how was that really being a female back then?

And it's not that long ago, but a lot has changed since then. And I'm sure back then it was much harder than today. How was that for you? What got you through that?

[00:06:38] Tara Mullarkey: Yeah, to be honest with you, I think that I was a little bit different then in that I thrived in that sort of environment. Like I was very goal oriented and I still am, but I think I've softened a bit, I think then I was just so hungry and I wanted to be in an environ. I didn't mind being in the boys club.

I like maybe grew up also just being used to like the banter and the sarcasm and the hard like toughness that you needed and it didn't offend me. You know, I really was never offended. I wanted to roll in that. So, I don't have any bad memories of that. I know that it was a boys club and you definitely as a female, we're gonna work really hard to be like as good or get promoted. At the same time though, like women's liberation was coming through at that time, so in a way right, you could also be favored because they needed to give promotions to a certain number of females. So that was already happening. But to be honest with you, I started golfing when I was in my early twenties and that served me so well because I was the one female that was invited out on all the cool golfing trips and I got to go to California and you know, golf and Dana point on near Laguna Beach and go to Vegas and go to all these cool meetings where we had golfing because I golfed.

So it really worked out for me. I had a lot of fun until I decided yeah, actually making my way in corporate America, I think separate than being female, but to answer your question is, I didn't like feeling like I did have to be a certain way, like I had to fit into the corporate culture boxes, that they sort of train you on, they tell you like quarterly. 

We meet and these are our company values and you gotta fit and you're not gonna get promoted unless you're like standing out in that area. And I realized after some years, that's really not for me. I wanna be me. I don't wanna be like what they want me to be. So I wasn't gonna conform and I'm, that's my nature.

I'm just not really gonna conform to something like that. It didn't work out.

[00:08:53] Jeffrey Feldberg: Good for you. You know, for saying true to yourself and your values in keeping your North Star, it's all too easy to get lost in that. So it's interesting you went from corporate America and now you're out there and you're working with business owners looking to really make a difference. 

But I'm just wondering, you know, big picture wise. As business owners for your clients that you're helping, and through the podcast, now that you're getting out there following a terrific bestselling book Seven Figure Coach: How to Create a Million Dollar Coaching Business with One High Ticket Program. And for our listeners, we'll have everything in the show notes that it'll be a point and click.

So what's going on out there? Where are we just not getting it? Where are we making the same mistakes again and again that you're seeing from one business owner to the next?

[00:09:36] Tara Mullarkey: Hmm. Yeah. If I really, strategy is strategy and one of the reasons that I built the female brand in this space of online marketing and being able to create a product and change people's lives, essentially. That's what the coaching, consulting industry that I'm mostly focused on. I learned from a lot of men who were very successful.

And I think a lot of men really have this down, or they also probably make this mistake, but they're more easily able to follow this and like the basic rule to having anything succeed is having one thing and sticking to it. And I think that's the biggest mistake that most females that come to us for help that's what they're making. They're really kind of trying something and then their mood changes or they don't get the immediate results and they just switch and try to do something else, or try to do another offer.

And so they're kind of all over the place. And this kind of leads to our nature, which is very emotional. This is one thing that helps us thrive as females, but it also can hinder us because, we're following our feelings a little bit more than we should. Men actually are able to be more logical about it and not follow the feelings.

So I'd say like ultimately, No matter, male or female, like to get anything off the ground, you gotta pick something. You gotta pick something that's marketable that people want and you gotta stick to it cuz there's gonna be challenges that you gotta overcome and you stick through it until you get some momentum on that.

[00:11:03] Jeffrey Feldberg: Yeah, it makes a lot of sense. And with that, I wanna circle back for just a moment and I'm gonna go to your book and for the listeners, get the book, read it. I love Tara how you put this into four different parts. You made it very easy to follow and to read. And so for part one, you're setting the ground rules here, the model and that you're talking about why high ticket is the right ticket and couldn't agree with you more. 

For our listeners out there who maybe have come from, I don't know they've just been brainwashed and they buy that myth. If I've charge too much money. No one's gonna buy for me and I should just compete with everyone else. At Deep Wealth, we call that being in a red ocean. You're everyone else, you're competing as opposed to a blue ocean, your own category, you're setting whatever it's gonna be your rules and the price and everything else.

So you know, why high ticket? What is it with high ticket? That's what we should be striving for as opposed to anything but high ticket.

[00:11:53] Tara Mullarkey: Yeah, it's a good question and it's definitely something that I first and foremost believe, especially when you're wanting to create something so no matter what stage you're at of your business, but let's just speak, if you're really just starting out, say most people think that they can't actually charge a higher price.

They need to like wait for years until they are a thought leader in a certain space to charge high ticket, which is actually not true and it's a belief that will lead you, your business to fail because like the main thing is that any business, I don't care if it's a brick and mortar store that you go to, or it's a restaurant or it's something online.

If you don't become cashflow positive as soon as possible, your business will fail, period. And so, when you are a beginner, you likely don't have a big audience. You have a built a big podcast, or you don't have a best. Selling book or you don't have a hundred thousand followers on YouTube or Instagram.

And so if you try to launch a, say $497 course or product online, you need a lot of people to buy that, to even make $10,000 a month, which is basic. It's like your basic level. Cause let's talk about taxes and expenses on that. So we're not even making that much, after all of those things.

It's hard to even get to 10 K a month if you don't have a big following. And you have a $497 product. So we just do the math and go, that doesn't work. I'm setting myself up for failure. Like, it's just not gonna work. And even if you are beginning, I'm assuming you have an expertise in something, which is what, like you wanna create something that is you're an expert, and yeah, of course you could always grow in your expertise, but you're an expert at something and there's a certain segment of the population, just like anything, like there's a certain segment of the population that's gonna buy the Tesla and not the Toyota. And so it's the same for what you're offering is we wanna target the people who will pay more.

One, they're better clients, they get better results. They make your life easier. They're fun to work with. And they will pay because they want a better experience. They want a higher level experience. And what this does for you as the business owner is you can, enroll 3, 4, 5 clients, make 20 to $30,000 a month, get your business off the ground very quickly and scale it from there.

You could add lower ticket products on later if you want to, but that's not where you start. You absolutely have to start with a higher ticket premium offer.

[00:14:15] Jeffrey Feldberg: Now speaking of high ticket, and you mentioned Tesla, and it was one of my questions because in chapter eight, which leads off part two of your book, you're saying, are you Tesla or Walmart? So Tara, what's going on with that? Tesla, Walmart? Why does it matter? Why should I care? What are you getting at?

What do you want the listeners to know?

[00:14:30] Tara Mullarkey: It's just like, do you wanna be known as the luxury brand? Are you the Louis Vuitton or are you the Chanel? Of course, I speak in female language, we all like our nice bags or our nice shoes. Or are you going to TJ Max and you're getting the knockoffs on the rack and there's nothing wrong with that.

Like all of us do that too. It's just like, what do you wanna be known for, and I just think that what is better is, targeting a certain segment of any population who is willing to pay more, especially in coaching and transformation. Most of our clients they're doing weight loss or body physical health transformation, or they're doing relationship transformation like saving a marriage or getting someone into their ideal relationship or helping them start a business or make more money in their business.

Like those are big life transformations. And as long as you're doing that, you do wanna work with the people who are willing to pay more. And it's just because they're gonna get better results and they're actually gonna take what you say seriously and do the work. So it's just really differentiating yourself.

Like, do you wanna sell the hundred thousand widgets at like $4 a piece, or do you wanna sell the $40,000 year long mastermind? And I think it's just pretty self-explanatory.

[00:15:48] Jeffrey Feldberg: And as you're talking about that, and for the listeners of the Deep Wealth community, to put that into our language here, I mean, Tara, you're spot on with everything that you're saying. Step two, what we call X-Factors, that insanely increase your enterprise value and grow your business. And so to your point, I mean there's nothing wrong with being a Walmart.

There's nothing wrong with being a Tesla that's an X-Factor, but you better do it really well. So if you're gonna be the low cost, okay, fine. No judgment, gonna be harder for you, but you better be world class. You better be the best like a Walmart who's low class. But what I'm also hearing you say, and I'm really more in your camp on this one, Tara, of, Hey, you know what?

Why fight that out over someone who's gonna leave you for someone who's coming in at a dollar less? Why not go high ticket, high end, and I know for myself, my philosophy is I never wanna be the largest company. I just want to be the most profitable company. I can do that. Terrific. Life is great and it's fewer customers, fewer headaches.

I can make more of a difference and have more of an impact.

[00:16:44] Tara Mullarkey: And Totally. And just one other thing I wanted to point out that I talk about in the book about Tesla and Walmart more just like what I was saying before in that when you enter the market, What do you choose to do? And so that's one of the biggest points I'm making about Tesla and Walmart.

Walmart came as the cheap option, right? Like they came as the option where their margins are so slim and, but that's their model, right? Is they're gonna sell a lot of things. And their margins are gonna be very slim. Tesla came on the market for the first time with a car that was a hundred thousand dollars.

They did not enter the market with a cheap car. They brought the cheaper cars later, but they did not start with that. They started with the a hundred thousand dollars car. And the reason for that was that Elon made a very specific choice to go with high profit margins out of the gate to build the company as quickly and as profitably as he could.

[00:17:38] Jeffrey Feldberg: So, Tara, when it comes to taking whatever it is that we're doing, our product, our service, our offering to market, what's gonna separate us out from the crowd, whether we're a Tesla or a Walmart, how do we get noticed and what should we be embedding into our messaging?

[00:17:53] Tara Mullarkey: Great. So yeah, like I actually did a little short video on this today, so I'll start there, which is, we've had hundreds and hundreds of coaches come through our program and really I think it's understood now that at least if you are in the transformational space, that there are three main verticals, if you will, that make money in this space, that you can't just be a general life coach. So stake number one is that you're too broad, you're too general, and your client has no idea really what you do. And this is something that so many people make the mistake of because when you have the desire in your heart to go make a difference in someone's life, you have some life experience.

And you can translate that life experience even as it relates to your relationship or your marriage or your health or money. You can start saying, I can really, I understand a lot of it now and I can help people with all the areas of their life. Problem is when you go to marketing, try to help someone with all areas of their life, they don't actually believe you can help them with even one area of their life, it's like going to a regular physical, like for your doctor, like, you know, a regular doctor that you go to see for your regular yearly physical and you need brain surgery, like you're not gonna do that, right? You're gonna go to the neurosurgeon for brain surgery because you want the best brain surgeon there is.

And so it's the same like when someone's going to shell out, say 5k, for you to work with them to help them get to the next level in their business or life or their marriage, I mean their health or their marriage. They need to be 100% sure that you know what you're doing, right? So that's one thing is like being in one of the verticals.

And so that is so key. And the short that I did today though is that now the markets say in health coaching or weight loss coaching, for example, It's like, I don't wanna say saturated, cuz it sounds like, I think that's a bad thing. Hey listen, this is just gonna happen. It doesn't matter. You could still enter the market and succeed, so that shouldn't deter you.

But what should, what you do need to do is not come on the scene and go, I can help you lose weight. You're like 100,000 other people online saying they can help you lose weight. So you have to differentiate yourself within that niche. And so that's the biggest mistake that I see now that people are making is that they're trying to just generally make a big promise in a vertical that people buy in.

But what they need to do is then come up with their own method. So they need to differentiate themselves and come up with their own method. And it doesn't have to be rocket science, but for example, I have quite a few women in my highest level mastermind right now. There's a, probably 50% of them are health coaches and they all have their own method.

Whether they focus on the hormonal reasons why women aren't losing weight or they focus on metabolism, or they focus on inflammation or they focus on. Whatever it is, but like that is their method. Just to give your listeners an example, and you have to come up with your method, and that has to be something you really believe is the main reason why that person is not getting to the root of the problem, the root of why they still have this issue in their life.

[00:21:10] Jeffrey Feldberg: It's interesting as you're talking about that, Tara, I'm just reflecting back and so often at Deep Wealth, we're not so much on the science side, although we incorporate that, we're more on the art side of business and a lot of the art side of business is mindset. And whether you're a person of one with a business or you have a business that's a thousand, 10,000, hundreds of thousands of people that are team members, employees that are working in the company.

Mindset is everything. And so let's look at it from both sides, from what you've seen, the people that you've helped, where you've made that difference. Where are we not getting it right with mindset? And then we'll flip that and find out some strategies of what we can do to get it right on mindset.

But how are we self-sabotaging ourselves mindset wise? What's going on?

[00:21:55] Tara Mullarkey: I love, love, love this topic. Because it's probably the thing that I coach on the most. My clients don't see is really happening. They think they have a strategy, And I'm like okay. So that thing that you said right there, or how do you, how are you thinking about that right now?

So I think that obviously changing the way that I think relating to money, this is a Deep, Wealth Podcast. So we talk about money. That's the main reason why I have had success in the business like strategy was after the mindset change, I was able to follow successful strategies once I got my mind right. So I think that there's so many different things that I could say. But the biggest mindset thing that I see on a daily basis is really thinking small with a lot of scarcity. And I always counter act or like have my clients think about what would someone who's wealthy do in this situation?

Or how would they think about the investment they need to make at the next level? Like how would they think about it? And can you see how right you are grasping and thinking with scarcity and there's a lot of fear surrounding this next level. So while you want it, Consciously, subconsciously, you are not ready for it.

You have a capacity limit here that's making you feel very uncomfortable, and so therefore, you are gonna keep self-sabotaging to stay in your comfort zone. I really believe mindset mostly is a nervous system thing. It's actually happening in the body and. Most people aren't even realizing that their anxiety levels get to a certain level, that they bring themselves back into homeostasis or comfort zone every single time, even if their comfort zone isn't what they want.

[00:23:45] Jeffrey Feldberg: It's interesting, Tara, as you talk about that, and for our listeners. You can go back to Napoleon Hill, think and Grow Rich Classic book out there, and you can go back to the ancients. And today we call it the quantum field or the field. Some people call it God or the universe, but Tara, really what you're saying resonates because our inner thoughts really that's what reflects our outer world.

So what we're feeling and thinking on the inside, that's what's gonna start happening around us. And science is now backing that up. The ancients have known this for eons, and so we're now all coming together. So you've identified, I'll call it our kryptonite as business owners that's our kryptonite.

It's the scarcity thinking and what it leads to where we don't want to be. Okay, so let's remove that now. So from a mindset perspective, how do we really tap into our potential and really get the mindset into an abundance mindset and help us create what we want to change and manifest out there? What does that look like?

What strategy should we be doing?

[00:24:43] Tara Mullarkey: It's two things. Once you get your mind to atleast get on board with this is where we're going. So you have to have a destination and you have to have a goal. Obviously if your listeners are here, we're all probably going towards something. We're not just like flippantly, you know, every day.

Just like, okay, whatever hope today's, okay, everyone has a goal. So you have a goal and then you wanna follow a certain strategy, So like, my clients know what they have to do every day to drive their business forward. Now we know that when we have mindset issues, then our mindset comes in and attacks the actions we have to do.

And somehow, oh, I didn't do that action cause I don't know what to do. I have lack of clarity. I'm confused in action. Paralyzation all of these things are ways in which that we're sabotaging ourself, because we're trying to keep ourselves safe. So my how to do it is twofold. 

It's you have to keep taking the action while holding. Like, I go to, it's almost sounds like therapy, but it's like if there was the little one of you that is like literally throwing a tantrum, crying, saying, I don't wanna do this, I don't wanna do this. How are you going to treat the little one of you who is very scared right now and it doesn't work to just tell that little one, shut up and be mean like you do to yourself and say, just get over it and just do it. What's wrong with me? And all this bad self-talk happens. But what if instead you like, put your hand on your heart and you say, oh my gosh, I know you're scared. I know it's scared to putting yourself out there and what people might be thinking and judging and what does that mean?

And then what if I have a client and they ask for a refund and they're not happy. So what are those fears? And you gotta start holding yourself like as if you were holding your little girl or little boy and telling them it's okay. I got, we're gonna do this together. Because your body is literally having a physiological reaction.

And if you don't realize that and talk yourself through it, like taking her hand and saying, come on. Yeah, we can do it. And so let's just take one step forward. So action and then tenderness, you know, action and then some tenderness around it and can't bulldoze through it. I'll just leave it with this to pass it back to you, Jeffrey.

If you bulldoze this part you either go to paralyzation, which is not bulldozing, which is most people do they like somehow quit. Because they find their way out of it. Or you bulldozed through it and say, Nope, I just gotta go. Well then you burn everything down later because you didn't take yourself with you.

You just bulldozed over yourself. And so, yeah, ultimately just take action, but also have tenderness. You're gonna have anxiety. You cannot just ignore that. That anxiety is your nervous system telling you, oh my gosh, we're outside our comfort zone, we're outside our comfort zone, we're outside our comfort zone, and we only have a certain amount of capacity to be outside our comfort zone right before we burn it all down. So we need to care for that piece and take little steps, but keep taking the little steps forward.

[00:27:58] Jeffrey Feldberg: So, Tara, let me run this by you just to make sure I got this, because what you're saying is so important and really I'm hearing a few different things. So on the one extreme, it's feeling the fear and just caving and quitting. Okay I'm gonna find all the excuses of why I shouldn't do it on the one hand, the other hand, it's okay, you know what?

I'm just gonna plow right through this. I'm gonna ignore my feelings. I'm gonna bury them. It doesn't matter. And it's almost as though we're selling our soul of, okay, I'm just gonna do it. It's not really me, but I'm just gonna do it. And tell me if I'm on base or off base with this, because what I'm hearing you say is recognize that it's okay to find something.

If I can use the word scary or fearful, hey, that's okay. That's normal. Be yourself. Really go deep within, find out where your strengths are. You know what your strengths are, but be your North star and find a way through it that works for you. Knowing that, hey, it's okay to be scared. If you're not scared, there's probably something wrong with you and acknowledge that.

Honor that. I'm gonna go way out there for some listeners, but I'm gonna say love yourself. Be forgiving of yourself. And as I like to say, there's no situation or circumstance that's put into our lives that we can't handle. You wanna call it the universe or God or life? Hey, it's there because we can do it.

We can get through it. Am I on base or off base with that third scenario? 

[00:29:18] Tara Mullarkey: Exactly right. I love using the child analogy cuz I think everyone gets it. Like even if you're not super sensitive person. You know that the child doesn't calm down. If you like, ignore, or like berate or yell at the part that's emotional, like the child is emotional.

So there is a child in you that can still get emotional, scared, fearful, wanting to quit and or sad, anxious. And so when you turn toward it and it's almost like give it a hug and you don't even need to reason it. You don't need to analyze it. We don't need to even know exactly why it's happening.

It's almost like you gave a child five-year-old a hug and then the child all of a sudden is like, Okay. And they stop crying, because they feel met in it. It doesn't have to be right or wrong. They just feel met. And so you just wanna meet yourself in it and take yourself with you.

And it's gonna make the world a difference cuz then you're going along the path and you get to take courageous action even when you don't want to. Cuz you know you have you. 

[00:30:22] Jeffrey Feldberg: Yeah, it makes a lot of sense and really we're being vulnerable both to ourselves openly. And also to the people around us, and if we're authentic and we're open about that, to me, vulnerability is strength. It takes a really strong person to be vulnerable. Some people say vulnerability is a weakness, but if it's authentic and we're open with people, even in a client or a prospect setting mode, hey Tara, I gotta be open with you.

This is my first time running through this. I feel a little bit nervous, but I'm gonna give it my all and I welcome your feedback at the end. Let's see how it goes. Well, I'm being open and honest with you as opposed to Yeah I got this I've done this a million times. No problem.

[00:31:01] Tara Mullarkey: Totally. People love it. You know, I even say that in teaching marketing to our students, tell a story, tell a scary story to tell if you can. Tell an intimate story. Tell a private story. There's nothing to be shameful about and it's the way we connect. People love to know, you know what you're scared of, especially if you are doing something brave and you're scared anyway. 

[00:31:24] Jeffrey Feldberg: Yeah, couldn't agree with you more on that. So for our listeners, there's a lot to unpack there, but the takeaway is really be true to yourself. It's okay to be scared and just show up with your authentic. You don't sell yourself short. And you know what, if you fall and fail, they're never failures.

As long as you learn from it, you don't make the same mistake twice. It's a learning lesson. And Tara, I don't know about you, failure more than success. Hey, I love success. It's a great feling that said, though, my biggest successes have come off the heel of my biggest failures. I've learned so much from failure.

It's for better or for worse. It's a terrific teacher failure. How about you?

[00:32:02] Tara Mullarkey: Absolutely. There is no success without failure. So that's just part of it. You will never, I could be so bold as to say, you'll never succeed without failure. So if you're not willing to fail, you won't actually succeed. Like it's the only thing that you'll learn from I had to fail many times before I have built the successful thing that I have. So like, 100% and taking the shame out of failure is huge. Like normalizing failure like that is supposed to happen. I tell my students all the time, even them posting something sometimes in the very beginning is very hard. People will see it and they're afraid to be visible.

What will people think and all of that, and I understand it. There's some embarrassment. What are people thinking? I don't know if I'm worthy, imposter syndrome, all of that in there but doing it anyway and then holding themselves, like I was just saying, it slowly starts to take away the fear.

Done is better than perfect, please don't need it. Perfect. Cuz it will never be perfect. It's never gonna go right and it's not gonna be viral and who cares. You did it though and like, so just be willing to mess it up. That's one of my things that I say to my. students all the time, just be willing to mess it up.

Be willing to mess it up. Be willing to mess it up cuz you fail forward and that's how you get good.

[00:33:13] Jeffrey Feldberg: I'm with you and I love that, done is better than perfect. I'll take that all day, including a Sunday. Just get out there. Just get out there and do that. And so, Tara, I'm wondering if, whether I'm a coach or I'm a business owner and I now come to you and I say, okay, Tara, you know what? Run me through your system.

Coach me, help me become the best I can be so I can take this to my business. Again, whether it's a business of one or a business of 10,000 employees or anything in between, what's the method to the Madness Terrace? So what? What are you doing? What would we expect if we're working with you?

[00:33:44] Tara Mullarkey: Well, Yeah, so essentially I teach our students how to draw in those high ticket buyers for their product or program. And usually all of our students craft one high ticket offer. I talk about this in my book. They could have other programs that they've created, but we go together, we go to bad and we create one solid high ticket offer that it needs to be quite a few things, like it's a combination of what they're really good at, what they're passionate about, what they're inspired by, and excited to teach, but also what the market needs because we can't have one without the other.

You don't wanna just do what the market needs and you have no inspiration, no excitement. And you don't wanna just do what you love. Like some of our clients come to us and they wanna do trauma healing, and it's like, oh, that's so lovely. But also there's not really a high ticket market for it, and that's more therapy.

So there's just like different things we gotta sort out, but there's always a way to do it. Like we always figure it out that meets those thing, those needs. And then essentially what I help them do is Market it in a way that draws out and attracts those higher tier buyers. And we teach both organic, so organic methods of marketing, which is like posting on your social media, coming up with content.

I do not believe that you can rely on that solely as a business. There's no automation, there's no consistency. And so I also teach paid advertising, Facebook, Instagram, YouTube, which just helps bring consist leads and helps automated so that you don't have to be like on creating content all the time. Then I teach them, you know, how to deliver it in a way that is in a group method so they're not having one-on-one clients and how to upsell them into a higher level offer and perhaps do events for their clients and just build a million dollar coaching business essentially that they love and they really only have to work 15, 20 hours a week.

Ideally, if it's set up.

[00:35:46] Jeffrey Feldberg: And it's interesting, and you know what? Whether it's a coaching business or a business, business, it's all really the same, even if you're having a liquidity event selling your business. Because what you're saying there, Tara, is, Hey, I'm helping people focus on, okay, what's the problem? The more painful the problem, the better.

And then very specifically, how do you solve that problem? How can you take the pain away for whether it's a coaching client or it's a buyer of a business or an investor of a business, or anything else in between? How do you message that? How do you differentiate yourself? Whereas we say, Deep Wealth, what are your X-Factors?

What are your REM brands that really have you stand out in the marketplace? So that's a terrific strategy of just helping your clients bring that to the forefront. And really the cream rises to the top, and having that message be the cream that's rising to the top.

[00:36:34] Tara Mullarkey: Yeah, it's pretty much transferable to any business. But, knowing the online space and there's just some things there that help. But yeah, with the background that I had like in corporate underwriting loans and all of that it definitely transferred here to help me understand business at a deep level.

[00:36:51] Jeffrey Feldberg: Absolutely. So Tara let's do this. You know, we can go down these different rabbit holes that said, though, we gotta start wrapping up. So, Tara, I'm gonna ask you my favorite question. I have the privilege and the honor to ask every guest on the Deep Wealth Podcast.

And Tara, here's the question. So think of the movie Back to the Future. And in the movie you have that magical DeLorean car that will take you to any point in time. So now Tara imagined it's tomorrow morning. Not only is the DeLorean car there curbside when you look outside your window, but the door is open and it's waiting for you to hop on in.

So you hop in and you're now gonna go to any point in your life, Tara, as a young child, a teenager, whatever point in time it would be. What are you telling your younger self in terms of life lessons or life wisdom or Tara, hey, do this, but don't do that. What would that sound like?

[00:37:41] Tara Mullarkey: Wow, that's so great. I probably would tell myself to not work so hard.

[00:37:49] Jeffrey Feldberg: Wow. Okay. Tell us about that. What's going on there?

[00:37:52] Tara Mullarkey: Yeah, I just think like full circle way we started and just coming from where I came from. I wish I knew that I didn't really have to work as hard as I did to create, so I wouldn't take away what I've created. But I think like more from a wound than a very secure place. I spent some years just working overworking, to try to like solidify security.

Because I didn't come from anything like, you know what I mean? I, it was never handed any money, I worked my way through college. That's just my background in that, like I had to make it for myself and I had big goals and wanted to live a nice life. And so I think at times I just worked very hard and looking back now, I wish that I had realized that, muscling, that, you know, overperforming and just working until exhausted for some time. I wouldn't advise that to anyone.

[00:38:47] Jeffrey Feldberg: Yeah. It's great advice and you know, we're talking about being vulnerable. Thank you for being vulnerable and open. I call it the minimum effective dose, m e d med, and the best example I've heard is imagine you're learning Spanish. So you can learn Spanish, you can learn 900 words in let's call it a year. 

Nine months to a year you can learn 900 words and you're 85 to 95% proficient. Or you can spend five years and you can become 99 to a hundred percent proficient. And so the same thing in life. When's enough, enough that we can say, okay, you know what? The extra effort and work and sacrifice it's not worth it.

Let me put that effort, time, and energy into other areas, particularly our health as part of our podcast, deep Wealth, helping you extract your personal and business Deep Wealth because our first health is our Wealth, Benjamin Franklin, great quote. So I'm with you on that. Hey, when's enough? You know enough?

And is it starting to hurt me or harm me or take me away from other areas? So I love that advice. Thank you for sharing that.

[00:39:41] Tara Mullarkey: Yeah, exactly. That wealth is not just money and it's relationships and family and health and I'm grateful that all of those things are good, but when I look back, I'm like, yeah, I could have, like, you know, I could have done it in a more balanced way at times, and I really just hustled and muscled you know.

[00:39:59] Jeffrey Feldberg: I'm with you on that and we'll have everything in the show notes. Tara, for our listeners, they wanna reach out, they have some questions, maybe they even wanna become a client. Where's the best place online that they can reach you? 

[00:40:10] Tara Mullarkey: Instagram is the place that I hang out, Instagram and Facebook, the places I hang out the most. So on Instagram at sevenfigurefemme F E M M E. And then Tara Mullarkey on Facebook. But anywhere, TikTok, YouTube you can find my book on Amazon, Seven Figure Coach. And then we have the podcast also by seven figure at called Seven Figure Coach on all the podcast players.

[00:40:36] Jeffrey Feldberg: Terrific. And again, for listeners, it's a point and click come to the show notes. Can't be any easier. Tara, it's official. This is a wrap. Thank you so much for your insights and your wisdom, and as we say here at Deep Wealth, please continue to thrive and prosper while you say healthy and safe. Thank you so much.

[00:40:53] Tara Mullarkey: Yes. Thank you so much for having me. 

[00:40:56] Sharon S.: The Deep Wealth Experience was definitely a game-changer for me. 

[00:40:59] 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. 

[00:41:09] Kam H.: If you don't have time for this program, you'll never have time for a successful liquidity 

[00:41:14] Sharon S.: It was the best value of any business course I've ever taken. The money was very well spent.

[00:41:20] Lyn M.: Compared to when we first began, today I feel better prepared, but in some respects, may be less prepared, not because of the course, but because the course brought to light so many things that I thought we were on top of that we need to fix. 

[00:41:36] Kam H.: I 100% believe there's never a great time for a business owner to allocate extra hours into his or her week or day. So it's an investment that will yield results today. I thought I will reap the benefit of this program in three to five years down the road. But as soon as I stepped forward into the program, my mind changed immediately. 

[00:41:58] Sharon S.: There was so much value in the experience that the time I invested paid back so much for the energy that was expended. 

[00:42:08] 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.

[00:42:22] 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. 

[00:42:40] 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.

It's five-star, A-plus.

[00:43:07] 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. 

[00:43:25] Jeffrey Feldberg: Are you leaving millions on the table? 

Please visit www.deepwealth.com/success to learn more.

 If you're not on my email list, you'll want to be. Sign up at www.deepwealth.com/podcast. And if you enjoyed this episode, if it added value, if you walked away with some new insights and strategies, please leave a review on your favorite podcast channel. Reviews help us reach new listeners, grow the show. And continue to create content that you'll enjoy and as we wrap up this episode as always please stay healthy and safe.