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Episode 141 – Incredible Value of Meaningful Relationships in Business


If you look and study every successful person owning a business in different industries, more often than not, you will find that they possess four core skills that brought them to where they are. In this episode, Adam Stott shares his trip to Cardiff, Wales, and tells us the value of relationships and how YOU decide your fate whether you get big or you go home. Listen in as Adam Stott tells us the importance of doing what it takes in building meaningful relationships in business.

Show Highlights:

  • Adam Stott explains why building face to face relationships are very important
  • Adam Stott’s experience building relationships with his first business in the finance industry
  • How South Park played a role in landing some of Adam Stotts major clients
  • Why is there only one competition when you are starting, just yourself
  • Putting yourself out there and talking to more people
  • The fifth important core value is YOU being on point and having no excuses
  • YOU decide your fate, it’s on you whether you succeed or not
  • Getting rid of excuses that are holding you back

Links Mentioned:

Big Business Events Members Network Business Clinic
The Gold Circle

Transcript:

Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.

Adam:

Wanted to do a video today for you where we talked about 4 cores skills that you really need with the beginning of starting out a business and this should be really really important. It’s something becoming really clear to me recently and as we been trying in and helping in to grow business in this different sectors. Some of you would say in different sector and different milestones.

I had a really great session the other day with gold circle members and one of the gold circle member are explaining milestones too so I was having a chat with Amy I was explaining with different milestones So to talk a little bit about milestones tonight but also talk about 4 cores skills you really need to grow and start a business. These 4 skills, if you get these 4 right you’ll get easy first hundred thousand dollars to help you to start building a new business in the right way so we’re gonna be revealing those in the moment.

The 2 most important of the 4, let’s go with those first. The 2 most important skills you need when you start and grow a business, really simple. You’ve might had heard me say it before or you haven’t, it’s absolutely clear the 2 most important skills an every successful person that I’ve ever met if you look at every business and every industry and you look at the people that are doing well look at the 2 cores skills in common they’re good at marketing and they’re good at sales.

If you lack this skills in the beginning and you haven’t got core marketing skills or you haven’t got core sales skills you’re gonna find business it’s gonna be tough for you in the beginning. And at the beginning that’s where you need to put all your focus in and it’s in your focus into how to get your message out the market, how do you influence persuade and so your product and services to people they’re gonna see big benefits from them. If we get those 2 things right that’s gonna get soft to a very very far start. 

Why is it so important? Well at the beginning of your business journey and reason why I want to talk about this tonight and there’s lots of you on and there’s tons of clients on receive now I’m sure, but when we’re giving out the gold circle awards ‘cause we got different awards now: so when our clients hit their first hundred thousand we give them an for award creating a six-figured business; when they hit the first 250,000 we give them an award for hitting in their 250 so they are gonna join 250 business club; when they hit the 500,000 we’re gonna give them the 500 business club; and when they hit the million pound mark they’re gonna be in the 7-figured business clubs and we will give out award to the people who hit 7-figured business club.

I was breaking it down for everybody how do you go and build a million pound business, if you wanna build a million-pound business, the first thing you need to understand is you don’t get to a million pound until you’ve made your first hundred thousand pound. You don’t get to a half a million pound until you made your first hundred thousand pound, you know. And you don’t, you really don’t go into business until you reach these milestones. And that is why we decided to put this different awards in so the whole focus in you building your business right now up to a hundred thousand pound in revenue has to be on how do you market your products more effectively and how to do sell your product more effectively. 

When you start a business, so business or not, lacks a lot of things. So you at the beginning of the business: you got great idea, you got passion, you got energy, you got enthusiasm but you are missing some core skills that gonna get you into what you want to be. I’ll tell you what those skills are you are missing, you are missing that branding. Because you know, so you haven’t got this massive track records, success stories the way you help people, you haven’t got celebrity influencer paid reviewer, or you haven’t really got a high profile crunch.

You are at the beginning, who got those things right? But what do you have? You do have some other assets. As I was explaining this to another plan I was on those, speaking on the phone all the way up to card it this morning and one thing business owner has in the beginning is they have time.

They actually have time on their side. The time can be use efficiently to grow your business. While most people do is they do it little bit the wrong way is they focused in all the invest structure stuff that needs to be in place. So “ah I need to have that perfect website”, “Ah I need to make sure I go and get the business card sorted, “I need to get this sorted”, “I need to get that sorted”, and they focus on “Ah I need contracts”, “I need terms and conditions” and all these sort of things rather than focusing on the only 2 activities.

That’s gonna be a thing, the two things that gonna drive them forward to get their first hundred thousand revenue and that’s market and sales. Market is gonna be the fuel that’s gonna fire up your engine, it’s gonna get you going. It’s gonna give you the opportunity to go and build your business. And I actually ask Ross today, now Ross is doing the session for me as I was coming to card it this morning.

For when we spoke before I came out and I said for a home based business clients and I want you to focus the most is sales. Why? Because in the beginning of that business the difference between you building a business, growing a business, and carrying great results is sales. You got there, your first client, your second client, third client, fourth client, and fifth client, and you get the model ready then you’re gonna start to grow very very quickly and your results are gonna start to grow where most businesses get stuck right is right at the beginning is actually getting that sales part right and if we get this right we get the result so quickly. 

So how we do this, right? So soon very well we’re telling you what you need to do but how do we do this. Well, a small business owner right now, the biggest opportunity that you’ve ever had in certainly my history of business and I’ve been in business utmost, I first started my business in 2008 biggest be and fastest way to go and grow and get your marking going is to use Facebook advertising. You use Facebook advertising, you’re gonna start to grow. You’re gonna go from unknown, like completely unknown, no one knows you, no one knows who you are, to unforgettable very very quickly. Why? Because you got the ability to do a number of things that gonna get your results very quickly.

So one of those really good way as I was explaining this on social media success strategy webinar and you know everyone said well done to Ross because everyone said he was phenomenal some even said that was the best session that I used. So well down to Ross. Ross was even to social media session today. So Ross is growing, Ross is an amazing great things, you know, always learning, always working hard and,  you know, his growth has been phenomenal. He’s doing super stuff. 

Fastest way of getting your marketing, so you’re gonna master that Facebook advertising and there’s more different ways to do it and getting leads for your business is super easy. We use Facebook advertising, we go and get a landing pages that we use to convert into leads or we use Facebook advertising we go and use lead generation and we get leads. Alternatively, which is the bigger alternative and this is a really good thing for you to do as a business owner the one thing that you’ve got to understand about as a business owner is that conversations grow businesses. So if you want to go and grow your business the only thing you need to do, okay?, in the beginning is to go and talk to more people and that literally that’s it. 

So people think business is really difficult. Business isn’t really difficult but people get in their own way so their fears, holding back, may be their fears of using video, of their fears of using ads, may be their fears of putting themselves out, of may be their fears of getting rejected, may be their fears of getting told no, all of this things get in your way. But this is why business owners are business owners. Business owners are business owners because, on what I acquired on the book, they feel the fear. They still fear the fear but they do it anyway.

Now the beauty is, as time goes on you don’t feel that fear anymore. Why? Because you do it and whatever is good, whatever is not good you have your result, then you do it again… then you do it again…. and then you do it again… and eventually it becomes your second nature to you. So all from the first, the hardest step, it the first step. You’re going out there and start making things happening. And if we do that, we got there and we start and we make things happen and we get stuff done, then we start to grow and we start to get result. And when you start to get results, this is the thing that every business owner needs right now is momentum. You need momentum. You need somebody to say yes to you.

The only way you get somebody to say yes to you is to get hundreds of people say no to you. Right? And that’s the irony of the situation, it’s counter intuitive, but you need to get there and start having more conversation about your business and that’s gonna lead you to get more clients. Get more comfortable here in the word no, you’ll start here in the word yes. Overcoming your fears then the rewards is on the other side of your fears that’s really important to know.

So you know, after a thing I said to Ross today is one of the things we setup today for the home based business of our clients is to get them to go and have a structured demand, a conversation, to start speaking to more people ‘cause that’s how they are gonna sell their products and services. And when they go and put themselves out there it’s gonna be difficult, yes, some says it might be. Appear gonna say no? Yes, they will. You know, if you speak to enough people more people gonna say yes. Good news is yes they will so just need to go and speak to more people. 

Dan is great. Great example, right? Dan is one of our clients. Dan is in gold circle. And he’s overcome his fears you know. He’s doing really really well. And he is starting to push on. He is starting to achieve things. He’s definitely one to watch. Why? Because he decided, what’s more important to him is to achieve his goals than hold on to his fears. And if you put yourself into place where actually “I wanna change my life”, “I wanna change my lifestyle”, “I wanna get new result”, “I wanna enjoy myself more”. Then you know you wanna start to get the word per word and you wanna get the results. You’re gonna overcome your fears. That’s gonna be the thing that gets you to the next level. That’s gonna the thing that gets you to the next stage so people would understand you for doing that. 

So, since you’ve overcome. So just look at that, sales is certainly one of the marketing that I’ve once told you about marketing, we’ve look at marketing. What do you do? Facebook ads, easiest way. If you got no money to use Facebook ads well then go and use Facebook to do what we call social networking. Social networking is the principle of the fact that actually you can go and start speaking to as many people as you want by using the social media networks. Go and look for people having conversation about your products, your services.

Remember when social media first come out like really right back at the beginning one of the things that we did is, and this is I’m talking like ten years ago, one of the things we with tweets are  is we used to use the search told and see people that asking questions about cars right back in the day. And it was times that was asking the question, we just go back and answer them. And literally we start having conversation and if you have enough of those conversation ,because thousand of those conversations going on every single day, then you will start to get the leads, the opportunity and then will lead on to the sales.

That’s what we used to do right at the beginning because we have time and but you know it’s when you start to get more sales and you grow your business you’ve got more money and then you can invest more money in the advertising and everything else. As a business owner, one thing you can never say you are right a binge down of your time you should have time. In my principle which have taught many of you over the years is at the beginning stage of the business, the beginning stage, the early stage, the growth stage, you should spend at least a minimum of 3hrs a day working on your new business. You probably should not go out of business. 3 hours a day, that’s 3 hours per day working on your new business otherwise you will go out of business and that is really important. 

What I want to do here? A tight step from the back,  I will say 3 hours a day having a full meaningful conversation with people, meaningful conversation. If you spend 3 hours a day having a full meaningful conversation with people, I’m telling you, you get your first client, you get your first sales, get in the business going, driving income, driving revenue. You’re not having any challenges, you’re gonna start to drive the challenges.

Why? Because on Monday you spent 3 hours you have ten, twenty, thirty, forty new conversations, Tuesday the same, Wednesday the same, Thursday the same, Friday the same. By next Monday you get your first client. The only difference is how you’re gonna do it. Right? That’s what comes right down to you, you’re gonna do it. I’m telling you that 100% works for you. So if you’re listening at your beginning stages, go and do it. You know, go and actually say that I’ve listened to that live, I took in some information because this gonna be some points. I’m gonna give you on this so you took in the information and you know what? It’s time now, not messing around. It’s gonna make something happen and you went and did it and I promise you, you get the result from that. 

I think that, you know, that is what somebody in that stage needs to hear. And have you already established and you’re making sales and your business is growing then you look for something else, so we’re gonna come to that in just a moment.

I’m telling you actually what I’ve been doing today, the matter of cold stuff is happening so let’s just say sales have been busy, Dan saying very true, absolutely. If you’re actually gonna do that, your gonna take that advice on board and my advice, you block out 3 hours of your day every single day to go and have as many meaningful conversations as you physically can have during that 3 hours and you go and have it relentlessly and use your energy, you use your passion. Use your time to go and find people to talk to that are potential prospects for your business and you get the clients, you get the results, you get the sales. If you’re gonna do that go on put in the comments and let me know. You know you wanna make that impact to me that’s why we are talking tonight. 

Maria is so true. Working from home, kids at the house. I was in sales for many years before this. This is the thing right and I might understand. I’ve got a little boy and a lot of people got children so you know you work the hours. You’re gonna work and if that means you have to work in the evenings, then you work in the evenings. Make the time while you can because this is the difference to make it right in the beginning. Hopefully it adds some value to you Maria.

It can be challenging, we all got circumstances around us that can cause challenges but the way an entrepreneur’s brain should work is, ”What I’ve got this challenge, how can I overcome it? How can I do something differently?” Then you start to come up with the idea that gets you to that next stage, to get you to that next level. 

So we understand that marketing, sales, is 24 hours a day so you use them. Absolutely spot on 24 hours a day. If you’re up 3 hours early might as well do it in the morning and by the afternoon you got some opportunity, awesome. All right, so whatever way you do maybe do it in the evening then come in the morning you got the opportunity whatever way you work it. So when we look at that, we look to marketing, we look to sales, we look for the other things that we actually need.

For the next one is awareness, okay? Awareness. We need to understand, we need to be aware. So this is the thing, let’s say you wanna build a million-pound business and you’ve been in business 10 years and you’re stuck at 250,000, why have you not built a million-pound business? It’s not because you are not smart enough. It’s not because it’s really nothing to do with you. It’s just the reality, is you’re not aware of how to do it. You don’t know how to get there. You haven’t been on that journey and haven’t seen other people do it. You’ve got no one around could look to and say, “Ahh, how did they do it?”.

You’ve got a lack of awareness. So you’re stuck in your kind of box in your area. So the key is if you wanna build a million-pound business, be serious about it. Get yourself around people who have already done it because that’s the simplest, easiest, fastest way. Because when you sit down with them something you might think is difficult, something that you might thought is a challenge or something you might thought wasn’t even possible, in one conversation, it becomes possible. And all of a sudden everything starts to change for you just because you got the awareness because you are around other people that created those results and I think it’s really really important. And that’s  the importance of fantastic networking being around with good people. So we look at awareness as a big big big big thing. 

You know, if you haven’t got your first sale, it’s not because your products not any good, probably it could be good be that you’re products are not any good but if you got good product and you are not selling anything it’s because you are not aware of the strategies you could have gone so far. So it makes sense for everybody, I mean if we raise our awareness, if we seek we shall find. 

That’s the reality, if there’s something you don’t know how to do that’s what I see a good entrepreneur knows. If I don’t know how to do something, I don’t say “Oh, I don’t know how to do that”. I say “I don’t know how to do it, who does?”, that’s probably one of the first questions that comes to my mind and then I look to something else which is the other core skill which is relationship. Who are my relationship, my network? Who does not know how to do that because that’s gonna be the quick route to pick up that phone, it might not happen. I don’t want to go there yet, I want to start my awareness just to remind ’cause I won’t miss the thinking, I won’t be able to really get this into really understand it.

Whatever it is that stand in your way, it’s just the awareness, the information, the how, that stopping you from getting there. Now good news is all of the is available in today’s day and age it’s just available. But many many people have been through challenges during this lockdown, it seems like it’s going on, it seems like it’s going on and on and on. I’m sure many of you are this things, “Ohh Oh my God, it’s going on forever”. You know, it seems like that but you need to find a way and as a good entrepreneur, a great entrepreneur, and another quality of that a minute ago that I was just on the phone recently I’ll tell about in a minute.

You need just to answer, “how can I make the most of the situation?”, “How can I sell online?”, “How can I do the things that I do online?”. If you don’t get the answers in How I can is not because you can’t but because there will somebody out there that is doing. It’s because you don’t know how. You haven’t got the awareness. You are not aware of the process of how to do it and that’s where the help can come in and that’s where we can start get our results.

That’s how we can make that breakthrough and start to get better result a lot lot lot quicker. By raising our awareness, by raising our awareness we raise our ability and we start to get better results. So Maria, I think it’s important to have sales and marketing strategy  planning absolutely and you know. It’s hard to have a meaningful conversation. We have a person who is aloof, when we speak to other people, don’t speak some as aloof speak to somebody else. You know, that’s the thing you’re gonna speak to whoever you’re gonna speak to you know to get the results. 

So on that basis, we understand that the right market in one way if we don’t have enough money and we go out and we do the hard work market you have some money to invest. We understand the principle of the return of investment: we gonna use Facebook ads, we use googles ads, we use YouTube ads.

Whatever it takes to get there and get the start to get a message from your new client. Then we sell, we spoke some meaningful conversation on how many people we speak to. When we come up with something we don’t know how to do, we don’t say “I don’t know how to do it” or we don’t go, “Ohhhhhh”, you know like that we say it right. You know if, who else is gonna do it. “What would I need to do?”, “What I need to learn?”, “How do I need to grow”,”How do I overcome this challenge”. That’s gonna be the mindset that gets you to the next level.                                        

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