RV (00:06): Welcome to the Influential Personal Brand podcast. This is the place where we help Mission-driven messengers, just like you learn how to build and monetize your personal brand. My name is Rory Vaden and I’m the co-founder of Brand Builders Group, a hall of fame speaker, and New York Times bestselling author. And this show is to help experts learn how to become more wealthy and well known. I know you’re gonna love it. Thanks for being here. Let’s get started. RV (00:34): I want to share with you one powerful principle and six key questions that you can use to scale your personal brand revenue right away. And this is really what I more and more as time goes on, I really believe that this is the secret to making more money. And it’s not something that most people are doing, it’s just the thing that I see the people who are making a lot of money are doing. And what this concept is all based upon is the idea that most people are pursuing width rather than depth. They’re concerned about the width of their reach, they’re trying to get more followers and more subscribers and, and that kind of thing. But the people who are making money are focused not on the width of their reach as much as they’re focused on the depth of their impact, and they’re utilizing something that we have created or coined as fractal math. RV (01:30): That’s the, the, the fractal Math method as what we call it. And we didn’t create the concept necessarily, but we’ve kind of branded it as that. And we are teaching it formally in our Brand Builders Group membership to all of our members. And so this is the big idea, this is the big concept that I will share with you. Fractal Math is a principle that says that 10% of your customers will invest at a level 10 times what they have already invested in. So 10% of your customers will buy something that’s 10 times more than what they’ve already invested in, right? So the the simple math example or illustration that I used for this is, let’s say that you had a $30 offer. Okay? You had a a $30 product, a $30 book, let’s say and you got a thousand people to buy it. RV (02:20): If a thousand people buy a $30 offer, that’s $30,000. When most people think about doubling their revenue, they think about adding more customers, right? To go, okay, if I wanna add another, if I wanna add another 30,000 revenue, I need to add another thousand customers. But a new customer is the most expensive type of customer there is acquiring, you’ve probably heard the term CAC or cac, the cost customer acquisition cost. It’s how much does it cost to acquire a new customer? Because new customers are the most expensive thing. The most profitable customers are existing customers when they buy repeat business, that is the most profitable because you get to have new revenue without any of the CAC. So the concept here, fractal Math, says to focus on serving your existing customers. And instead of getting a thousand new customers, the, the fractal math says that 10% of your customers will invest at a level 10 times higher than what they’ve already invested. RV (03:21): So if you have a thousand people who bought a $30 product, then that means 10 per, that means a hundred people, which is 10% of the thousand, a thousand customers, 10% of those is a hundred, a hundred people would invest in a $300 product. So 10, you know, 10 times what they’ve already invested, they already bought 30 times 10 is 300. So one 10th of the audience will spend 10 times more than what they just spent. And now you have a hundred customers who are already in your database, who invested at $300 rather than 30. And $300 times a hundred is also 30 grand. So you doubled your revenue without adding a single new customer. And it continues, right? So you go, if a hundred people would buy a $300 offer, then that means that 10 people, 10% of a hundred is 10, 10 people would buy a $3,000 offer. RV (04:13): And that’s another 30 grand because $3,000 offer times 10 people is $30,000. And then that means that one person, ’cause 10% of 10 is one, one person would invest at $30,000 with you potentially. So that’s another 30,000. So that’s three sets of $30,000, a thousand people buying a $30 product, a hundred people buying a $300 product, 10 people buying a $3,000 product, and one person buying a $30,000 product, 30,000, 30,000, 30,000, 30,000. That’s $120,000. That means you have not just doubled your revenue, you’ve quadrupled your revenue, and you’ve quadrupled your revenue without adding a single new customer. And that is the most profitable way to do it. And so this is, this is one example When we say that we teach monetization strategy inside a brand builders group, right? Part of our spiritual gifting is making money. We are good at it, we are good at teaching people to do it, and it’s through helping them understand principles and concepts of money that are like this, that a lot of people don’t know. RV (05:21): So that’s the concept. The concept here is fractal math. 10% of your customers will invest at a level 10 times higher than what they’ve already invested with you. And another way of saying it at a principle is to say, focus not just on the width of your reach, but the depth of your impact. And so now I’m gonna give you the six key questions that we ask for to, to increase our monetization at Brand Builders Group by increasing our, our level of service to our clients. And there’s six of the same questions that we ask, you know, my private clients who, who you know, either come invest to spend two days with me, one-on-one, or they come to one of my Brand Mastery events, which are very, very small events that I host now that are just like five or 10 people. RV (06:07): And we spend two days together. And basically I fractionalize the cost of two days with me, one-on-one across like five to 10 people. And so it becomes much more affordable. And these are the kind of concepts that I’m helping walk them through, okay? So here are the six questions that will help you extract more revenue from your current customers. But I don’t wanna don’t just think about it like that. And this is what question number one is. Question number one is, how can I help my clients succeed faster? How can I help my clients succeed faster? That is something that you should be asking. This is not just how do I get more money out of people, right? That’s not it. It’s thinking in a service centered way. And that’s what these six questions are. These are six service centered questions that lead to scale, that lead to more profitability for your personal brand and really for any business. RV (07:02): Although we only focus on working with personal brands. So when you ask that question, the quality of your answers is determined by the quality of your questions. And so if you want different answers, you gotta ask different questions. And if you ask better questions, you’ll get better answers. And that’s why these questions are so important. How can I help my clients succeed faster? Remember, money follows speed. That’s a principle of money. The faster you can, you can get a result for somebody, the more they’re willing to pay you for that result. And the more people there are who are willing to pay you that money. So that’s a question you should be asking. How can I help my clients succeed faster? Number two, what can I offer to help my clients succeed in a deeper way? Right? So how do I, how, how can I serve them in a deeper way? RV (08:01): How can I give them more access to me? There’s a, a, a principle and a, a framework that we teach in monetization strategy in our, in our formal curriculum that’s called the services spectrum, which is basically this idea that as, as intimacy goes up, as, as, you know, proximity to the messenger goes up, the price goes up because you’re able to serve people in a deeper way, right? Like the most expensive thing someone can buy from brand builders group is two days with me, one-on-one that’s expensive, but that’s also the most value that I’m able to give. I can completely customize everything I’ve spent my life learning to one person’s business or one person’s strategy. And that’s what, you know, most of my big private clients, the Louis Howes, the Ed millet, the, you know, the, the Eric Thomas’, the, the, the Amy Porterfield, the Jasmine Stars, the Jim Quicks, right? RV (08:47): These are people that are private clients of mine where I’m able to work with them one-on-one, and I can help them create massive value. Some because of who they are and what they have. And, and, and some just because, you know, they’re massive action takers and they, they, they execute and they’re coachable. So how can you serve your clients in a deeper way? How can you give them more access to you? More access to you requires more of your time. If it requires more of your time, then you should, you should. It’s justifiable to collect more money for that. It’s also worth more money to people because you’re able to shorten the learning curve because they’ve got more custom solutions coming directly from you. As they get closer to you, the solutions become more custom to their unique situation and more applied to their specific questions. RV (09:34): And so it’s worth more, and it also is worth more because it takes more of your time. So there’s more opportunity cost to your time. So how can you help your clients? How can you serve your clients in a deeper way? How can you give them more intimate access to you? Number three, what tools can I create that make it easier for my clients to implement? What tools can I create that make it easier for my clients to implement? Right? So especially if you are some type of educator or you, you’re an expert, right? We, we serve mission-driven messengers. A lot of our clients are experts. They don’t all sell information like courses and eBooks. A lot of ’em are professional service providers, right? They’re doctors, they’re lawyers, they’re accountants, they’re chiropractors, their financial advisors, their real estate agents. But what tool can you create where the tool can help your clients succeed without you having to be there? RV (10:30): Especially what tools can you create that help them implement the things that you teach or implement the things that you ask them to do? The more that you can create those tools, the higher value you, you, you are providing because you’re moving them from just education to application. And remember, that’s another one of our principles that we say is that people don’t pay for information. They pay for organization and application and tools accelerate the time, you know, it takes to, to implement it. You know, they, it compresses the amount of time that it takes to, to execute related lead. Number four, what vendor partnerships or vendor relationships can I form that I can refer my clients to that will help them execute, right? So maybe you can’t execute everything for all your clients we’re that way, right? Like we have over 800 clients in our, in our flagship membership program now, right? RV (11:23): Like, we’re serving 800 people. Our vision when we started the company was a thousand messengers. We’re getting really close to that. And we have like another 1500 private clients that just do, you know, private two day sessions with us. Well, the, the question is, is to go, well, we can’t write the copy for all, you know, 2000 of our clients. We can’t build every funnel for 2000 clients. We can’t ever, every video, you know, launch every podcast, manage every speaking career, do every single book launch write every single speech, write every joke. We can’t do that for all 2000 clients. And so we are going, what tools can we create to make it more accessible? And then also, where are their strategic vendor relationships? And I think one of the most valuable parts of our community when someone becomes a, a, a paying member of Brand Builders group is we curate a community of vendors, right? RV (12:13): So it’s like you need people to write copy, graphic design, do video editing, do websites, you know, build funnels like, you know, do research studies. Be a literary agent, book you for speaking like what all, you know, PR services, all of the things that personal brands need that we can’t provide. We’re just not that big, at least not yet. We go, well, let’s, let’s let’s curate vendors to introduce you to. And we do referral fees with the vendors, right? We pay them when they refer people to us, and they pay us when we refer people to them. So it’s a win-win win for everybody. Number five, big question. Where do my clients most often get stuck when they’re trying to implement the things that I teach? Right? So that’s a big question. Where do my clients most often get stuck when they’re trying to implement the things that, that you teach to them, right? RV (13:06): So you know what to do, you know how to do it. You’ve been doing it your whole life, your whole career, or some big chunk of it, right? And so what you gotta identify and your current clients well, and your past clients can help you do this, is go where do they fall apart, right? Where does, where does everything fall off the tracks? Where do they, it’s like they, they get excited and inspired, but then when they get to, you know, blank, it all just disintegrates and they lose all their momentum. You have to identify those roadblocks, those bottlenecks, and then you have to provide support to them. And then question number six, what problem can I solve for my clients? That never goes away. What, what problem can I solve for my clients that never goes away? And I give you example of some of the ones that we do at Brand Builders Group. RV (13:51): People come for our content, right? They come for our expertise, they come for our principles. They come because we give them a world class education that, in my opinion, exceeds the practical value by a long shot of what you would get from, you know, a a hundred thousand six, multi six figure MBA. And we teach them how to apply things quickly and make money for an a, a, a fraction of what something like that would cost. They come for the content, but they stay for the community. See, people leave college, they get their degree and they leave here. They stay because there’s, there’s community, there’s relationships, there’s joint ventures there’s friendships that are formed, right? There’s accountability that’s developed. They’ve got access not just to me and aj, but to our strategists and, and to the other clients. We also provide a lot around data and trends. RV (14:41): So our clients get insider access to like, what’s working right now. Not what worked five years ago, or just what worked five years ago, but what worked right now. Another thing that we have started doing for our members is pr. Our members need pr. They need publicity. They need to get in front of more stages. They need to get on more podcasts. They need to be on more YouTube shows. They need to be doing more Instagram lives. They need to be doing more, you know, onstage speaking breakouts, virtual summits, et cetera. Well, we are not a PR service, so you can’t hire us to book you for pr. We don’t do that. But what we figured out is, wow, we have 2000 clients. Almost every one of our clients, e every one of our clients has some type of a platform. They have podcasts, YouTube channel, they have events, they do stages, they do summits. RV (15:27): And so what we, we hired a full-time person to do nothing but connect our members to one another. So it’s an internal PR service inside our own community. And so people are going, wow, I’m paying for education, but I’m getting community and I’m getting these tremendous PR opportunities because I’m sitting next to people at your events who write for Forbes and do big summits and have huge podcasts. And all of them have social media followings, like is PR and then related is gigs. This is the next thing that we’re, we’re moving towards is helping our clients actually get paid gigs. And that’s like the new emerging area for us. So those are problems we can solve that never go away. So there you have it, one key principle, fractal math, and six key questions to ask to help you scale the revenues of your personal brand much faster. RV (16:20): Don’t be so consumed with the width of your reach that you ignore the depth of your impact. If you want more strategies like this, and you’re serious about taking your personal brand to the next level, make sure you go to free brand call.com/podcast to request a call with our team. If you’re not ready for that, that’s all right. Hang on here. Stay tuned next week, share this episode with someone who you think it would be valuable for. Come talk to me on social media and we’ll catch you next time on the Influential Personal Brand Podcast.