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This is a live business strategy session Dave Lorenzo and Nicola Gelormino conducted in Hallandale Beach, Florida for a group of professional service providers on November 17, 2023. You can listen to the audio on the podcast player below. The transcript is also included so you can follow along.

Dave Lorenzo opens the Inside BS Show by Describing the Session he and Nicola Conducted. It is titled How to Dominate a New Market in 12 Months:

Hey, now it’s the Saturday side Hustle. I’m Dave Lorenzo, the Godfather of Growth, and today on the Saturday Side Hustle, we’ve got a real treat for you. We’ve got a live talk I delivered with Nicola, with Nicki G just yesterday in Hallendale Beach, Florida.

This is a talk on how to dominate a new market within 12 months. It’s about 45 minutes long. The show is called: The Inside BS Show with The Godfather and Nicki G. 

Enjoy the talk and we’ll see you right back here again tomorrow for the Sunday special.

Now the live session begins with Dave Lorenzo introducing Nicola Gelormino (Nicki G.):

Without further ado, without any additional fanfare and so that she doesn’t have to keep moving around so that she’s not standing right next to me with the mic so we don’t get feedback. Let me introduce you to my brand new partner, ladies and gentlemen. Give it up for Nicki G.

Nicola Gelormino:

Good morning everyone.

I’m so excited to be back at this breakfast and talk about how to dominate a new market. I love this breakfast. I would only miss this breakfast if I had something really important going on. I did. I was preparing for a big trial and as those of you in this room who our lawyers know, preparing you for trial can be very demanding. It’s 12-hour days. They’re endless. They can go on for weeks at a time. You sometimes just can’t see where it’s going to end. There’s so much stress and pressure associated with what we do to be able to get that case ready for that first day of trial. You’re hardly sleeping. I finally got a few hours of sleep. I woke up, I’m in Cuba. Next thing I know, I’m in a Jeep and I’m riding along the fence line. I’m wearing my whites. Someone throws me a camouflage jacket and a vest to make sure I protected so we can go interview the key witnesses. Days later, we’re in the courtroom, Colonel Jessup on the stand. He’s looking at me, I’m looking at him and he says, you can handle the truth.

Yeah, so it was nothing at all like that, but it was a big case. Career defining. Sometimes in case’s like this, you can get opposing counsel on the other side that is just the worst. They can be so overbearing. They can be so dramatic. They can be relentless. It’s kind like… it’s a lot like…. It’s exactly like working with Dave.

I love working with it. I do. I do. Dave is so much fun. He’s a great partner. He always had such great ideas, great recommendations. He’s be the absolute best. If you don’t believe me, just ask him.

Nicola How to Dominate a New Market TalkMy case settles on the courthouse steps and in less than 24 hours, I’m on a flight to Los Angeles to attend a group leader summit for ProVisors. Seated next to me on the plane is Dave.

We’ve got five hours together and I’m so excited to attend my first group leader summit for Provisor. So I’m sharing all of that excitement. David sharing his experiences with me from the past summit that he’s attended, and we’re talking about who we want to get in front of and connect with while we’re there.

Once I got home, I was really reflecting on our friendship and all of the things that David has done for me over the past year. It’s a lot. And I realized the most significant thing they has given me this past year was on that flight.

He gave me COVID.

We get to the group leader Summit, Dave, myself, my name’s Lenny in the back there and Maria Castillo Dominguez have the opportunity to present on stage in front of over 300 group leaders. Lenny, do me a favor. Raise your hand if you don’t know Lenny.

We had the opportunity to present on a stage in front of 300 group leaders to co organization, every one of whom is a leader in a region across the country, and every one of whom is an expert in that respective field. It was a big stage and Dave fought really hard for us to do his presentation as a group the way that we wanted to, which was unconventional for visors. So we knew there was a lot of pressure on us to perform well.

So we get that opportunity and we crushed it. Am I right, Lenny? Everyone did such a good job. I am so proud of each one of these professionals. It was an incredible experience.

The reason that we dominated that performance was because of the degree of preparation that we put into it. The same degree of preparation that you can put into your business using the seven step process for how to dominate a new market that we’re going to discussing with you today to dominate a new market in 12 months.

So at this point, let me turn it over to Dave to get started with the educational portion of our program.

Dave Lorenzo:

All right, so raise your hand if you want to do big things in 2024. Raise your hand. There you go. I love it. Okay, everybody. The two of you who don’t want to do big things, this program is not for you. So doing big things sometimes means entering a new market. So we’re going to give you the seven step process today to enter a new market and dominate. Step one is going to be very familiar to those of you who were here last month. And step one is to identify your ideal clients. Who wants to tell me? Who wants to tell me why? Why we only go after ideal clients and why we don’t go after just any client. Why do we go after ideal clients? Yell it out.

Audience Member: Higher success

Group at How to Dominate a New Market TalkDave Lorenzo:

Higher success rate? Who spends more money? Ideal clients or crappy clients? Ideal. Ideal clients spend more money.

Who stays with you longer? Ideal clients or crappy clients. Ideal clients, right?

Who’s more fun to work with? Ideal clients or crappy clients, ideal clients.

There you go. These are the reasons why we go after ideal clients.

So what does it take? Who was here last month? What does it take to find an ideal client? What are the three factors?

The three factors you need to have? And here’s what we’re going to do, to stimulate participation. I’ve got gifts. I brought gifts with me.

The person who has the answer to this, and here’s how we’re going to determine if you’re first, you are going to jump up as high as you can. The person who wants to give me the answer, jump up as high as you can jump. You’re going to get a copy of my book, okay? My latest book, the good book, not the other two.

Okay, so what are the qualities? There’s three plus one as a bonus quality of an ideal client. Ready? Go. Who wants to book? You’re going to have to jump up. I’m not listening. I’m not listening. I’m not listening. Okay.

Audience Member: They have to have the authority to hire you.

Dave Lorenzo: They have the authority to hire you. That’s one.

Audience Member: They have to have the money

Dave Lorenzo: They have money. Money. Number two, okay. They have to have a problem you can solve.

Dave Lorenzo:

Alright, thank you. Thank you. They have to have money, right? Why do you people insist on working with people who don’t have any money? I don’t know why you do that. Stop doing that.

You want to have a good 2024? Stop working with people who don’t have money. Don’t work with people who don’t have money. Okay?

Number two, they have to have the ability to make a decision. Best conversations I’ve ever had in my entire life, but with people who have no decision making authority at all, why they can’t commit to anything. They love speaking with me. They love hanging out with me. I sell ’em hard and they nod their head and they smile and then everybody walks away and I’m the only one who’s unhappy. It’s kind of like being married.

Having the ability to make a decision is number two. And then number three is what was number three? Pardon?

A problem. A problem. Thank you. It’s a problem you can solve. Okay? A problem you can solve. Now there’s a fourth element, but we can create it. And that fourth element is urgency. Urgency. We can create that and I’m going to share with you how we do that in just a minute.

Now, two other things I want to mention on this subject of identifying ideal clients.

Audience How to Dominate a New MarketYou want to do it in a way where you have the most leverage. Why are all of you here today? Don’t say to see me. It might be true and I appreciate that and I love you all for that. But you’re here because you want business and you’re connecting with people who could potentially refer a business to you or some of you, I’m looking out at the crowd now, some of you came here apparently to be on your phones, which I don’t know why you would do that.

So those of you who are here for referrals, I’m going to share something with you, okay?

It is better and it’s easier to build a business if you’re in front of people who can hire you. I love referral sources, but it’s better and easier if you get in front of people who can actually work with you. So employing leverage to get in front of your ideal clients is critical. And the third element in, in identifying your ideal clients. The third element is focused on clients with the highest lifetime value. Why would you focus on a client who’s one and done when? You could focus on a client that you can work with over and over and over again. And if you don’t have a way to find these people in your business, I can help you do it and it would be my pleasure to do so. Those are the three elements of identifying an ideal client. What do you think?

Nicola Gelormino:

I think we need to tell everyone who our ideal clients are. Our ideal clients, for all of us here in this room are entrepreneurs who own businesses that are generating a minimum of $5 million in annual revenue.

Those clients must meet the qualifying criteria and they must also provide lifetime value to you in the form of reoccurring and repeat revenue. So let me use an example.

Let’s say we have a fitness center that is based here in South Florida. The fitness center already has a few locations. They lease each of their spaces. They have plans to expand over the next 12 to 24 months. They’re going to open new locations across the state of Florida. They have identified a director of site acquisition development who’s going to be the point of contact for this project. You have met the director.

So you have the opportunity to work with this client. They already need the minimum revenue threshold. Let’s say for example, you are a real estate attorney. The opportunity for you would be to work with this client on every lease agreement, bring to the new spaces. So drafting, negotiating each lease agreement as the space is opened, which is an example of reoccurring revenue. Remember, it’s the same client, same type of matter over and over again. Now let’s say as we is going through the process, drafting those lease agreements, there are a few issues that arise with earlier spaces. Let’s take one of the older locations, for example. It’s a two story retail plaza. The gym is on the second floor. The gym makes a lot of noise. So the tenant below is not happy about that. So a dispute has arisen.

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Dave Lorenzo:
Never happens.

Nicola Gelormino:

That client may call Russ and ask if Russ can assist with solving that problem. Of course you can. That would be an opportunity to perform new work for the same client. So client repeat revenue. So that’s the type of client that we are talking about that’s going to offer that lifetime value to you and it’s going to meet all of that qualifying criteria. Those going to be the best clients for your business.

Dave Lorenzo:

All right? So now we need to determine what the huge problem is that’s killing these clients. Okay? So here’s the thing folks. You guys are all so good at what you do that you immediately, you immediately rush to let the client off the hook.

And that’s a problem. Why is it a problem to let the client off the hook immediately?

Who wants to tell me? Who wants to tell me why it’s a problem to let the client off the hook immediately? The client’s got a huge problem. They come to you and you’re so excited. I can help you. I can fix that problem, right? Why is it bad? Let the client off the hook immediately.

What’s the urgency? Urgency. The urgency for sure. And Fabricio is going to get a book today. I promise you he’s going to get a book today. Yes, urgency for sure, but there’s a second element to it. Who’s raising their hand back there? Randy, stand up. I can’t see you. Come on.

Auidience Member: Relationship. You never get a long-term

Dave Lorenzo:

Who wants to charge a lot of money?

Are you kidding me? Come on. Who wants to charge a lot of money?

Me. I want to charge a lot of money. Thank you.

If you want to charge a lot of money, the client has to have a problem. They believe only you can solve. You are the solution. If you are not the solution to their problem, they can pay anybody. You want to charge a lot of money. They got to think this is the most insurmountable problem ever. And here’s the thing, they’re not going to tell you what the real problem is. They’re going to play hide and go seek with the problem. Does this ever happen to any of you guys?

What they give you is symptoms. They’re not giving you the actual problem. You got to dig in and find the actual problem is.

So determining what the huge problem most clients have is essential because that’s where the value comes from. So you’re going after these clients in mass. The third element to this is making sure this is a common problem among all of those people. I started my consulting business. I worked exclusively with lawyers. You know why? It’s easy? Lawyers didn’t know how to develop business.

And I sat there and I’m like, Hey, I’m driving the money truck. Who wants to get on?

And everybody was like, I want the money truck. And so I showed them a way to develop business through education based relationship business development. That was a huge problem they had. And when I showed them they could use their natural strengths to solve that problem, it was like showing fire to cavemen. It was phenomenal. They were so happy, so excited. So for you, the second step in how to dominate a new market is figure out what the huge problem is that they all have in common.

Nicola Gelormino:

So here’s the problem we all have in common, which is getting in front of our ideal clients.

We are oftentimes getting in front of them because we are using referral sources to do that rather than positioning ourselves as subject matter experts and what we’re getting in front of them by referral sources. We’re getting how much time? 30 minutes time? If you’re lucky, you’re getting 30 minutes. Most of us are getting maybe a window of 15 to 20 minutes. I see people nodding their heads. You have a very small window. And even when you have that opportunity, what’s happening? They are sweeping us on price and a lot of other terms because they can. But if we were able to instead position ourselves as subject matter experts, it’s a little bit different.

Dave Lorenzo:

So how do we convince ’em to come on board with us? Well, first we got to get ’em to think about how much this problem is costing them. How much is this costing you? There are three costs, three costs.

There are three costs that everyone experiences, okay?

The cost of money. If you’re in the B2B space, this is the one you can hammer home, right? Make money, save money, reduce risk in B2B. That’s what we do. Make money, save money, reduce risk all day long. That’s what you should keep in the back of your mind. So that’s the money cost.

The second cost is their time. How much time is this problem taking up?

And then the third cost is the mental and emotional energy that’s taking place in the person’s mind that this problem is, you’ve heard the expression. So-and-so is renting space in my head because I’m constantly thinking about them and I can’t get rid of it, right?

Those three costs are the things that you need to hammer home with your client if you want ’em to sign up with you, if you want them to engage you, if you want ’em to come back for a second point in your sales process, whatever it is, Mr. Smith, how much is this costing you?

Now, sometimes you’ll get a client who’s a little jokester and I’ll ah, it’s not costing me anything. What you doing in my office? Why are you here?

Everybody has a problem that’s costing them time. Everybody has a problem that’s costing them emotional, mental energy, and everybody has a problem that’s costing them money. So those are the three elements. And you can’t be shy about exacerbating the problem by pointing out the time, the emotional and mental energy and everything else that’s weighing on these people.

You’re in a rush to solve the problem. But in order to get maximum fee to really kill the client lifetime equation, to make sure that the clients are invested in you for the long term, you have to be able to help these folks understand this problem is serious and it’s not going away. The sooner you get comfortable with that, the sooner you can begin to help them.

Now I want to make one more point about this, okay? We’re not trying to manipulate anybody here. What’s the difference between manipulation and influence? What’s the difference between manipulation and persuasion? Anybody want to take a shot at that?

Ah, my goodness, I love that. Yes. The difference is intent, purity of intent. If you want to persuade people and you have purity of intent, you can do whatever you need to do to convince them. Purity of intent is the difference between manipulation and persuasion.

Which of you here? Who of you here is a person of goodwill and you legitimately want to help your clients? Raise your hand.

So that’s the difference my friends, I want you to help as many people as possible. If you don’t exacerbate this problem, they’re never going to make a decision.

Klitzner helps people with IRS problems. Most of the people who go into his office have had IRS problems for a million years. They’ve been getting letters since I was 14. They’ve been getting letters for that long and they come into his office and they say to him, I’m ready to solve the problem. Now he has to ask them why. And when they tell him why, he has to say, oh my gosh, that’s the worst thing I’ve ever heard. I’m really glad we came in today. If he doesn’t do that, they’re not going to sign up with him. True or true? True.

Nicola Gelormino:

So let’s take all of you. How much is your time worth? We all know the answer to this question. If you don’t, that’s a different problem. But if you bill hourly for example, you know exactly what you charge per hour. If you charge on a project basis, you know exactly what that project’s going to cost. Or if you know what type of project it’s and the scope of the work, you can estimate the project.

What about the time we’re spending networking? How many of you are tracking all of the hours you’re spending networking a month? Be honest one. And if you’re tracking those hours, how many times are you converting clients? Not a lot.

What if instead you were in a room in front of your ideal clients in that amount of time, same amount of time, and you could convert two new clients, five new clients. How about 10? While you are in all of these networking events monthly, you have competitors who are in front of their ideal clients, closing new clients every week, the best closing new clients every day.

So what if you can get in front of your ideal clients for that increased opportunity? Would you make a change?

Dave Lorenzo:

So step four is all about creating urgency. And this is the easiest step. It’s only going to take me two seconds to describe it to you. Okay? Here’s how you create urgency. You simply ask them how much worse this could get, right?

Let’s use Klitzner as an example. Person’s got an IRS problem for 15 years. They’re going to get married, and the wife says I’m not going to marry you unless you solve your IRS issue. So they wind up in Klitnzner’s office and he says, look, this isn’t the worst problem I’ve ever seen, but it’s pretty bad. I’m not really sure what you’re going to do. And then Klitzner sits back and he goes, what do you think is the worst think that can happen?  What do you think? What could happen to you? What do you think could happen?

And the guy says, well, I’m not sure I got this letter. It says they can take my car.

They can also levy your bank account.

So basically if they levy your bank account, you got to see Levy, who’s a psychiatrist, who’s across the hall from Klitzner.  It’s convenient how that works out.

So they could levy your bank account, right? And then there’s this little thing that they got cute about where they can take your passport and Klitzner says, I don’t really see the IRS taking passports a lot, but the other two, it happens all the time.

And the guy says, WHAT? Yeah, they take people’s cars and levy bank accounts, oh, by the way, they levy your bank account like 4:45 PM on a Friday when you got stuff to do on the weekend.

But you’re probably going to be all right. It’s probably going to be okay.

Klitzner’s got this down. He knows what he’s doing. And the reason he’s doing it is because that creates urgency. That creates urgency. You’ve got to be willing to exacerbate the problem.

“How much worse can this situation get?”

Nicola Gelormino:

By a show of hands, how many of you belong to a professional networking organization like ProVisors or Florida Lawyers Network or BNI or something else?

It should be everyone in this room. Keep your hands up. Out of all of you. How many of you belong to another organization where there’s at least some type of networking? Make it a community organization, civic or volunteer? Still a good amount of hands. How about a third organization or more? Keep your hands up. That’s still at least half of you, if not more, that belong to three or more networking organizations. Think about the amount of time that you are spending networking while competitors are out getting in front of ideal a clients.

Dave Lorenzo:

Step five in how to dominate a new market is, this is the step you’ve all been waiting for and you’re all great at. This is hope. Okay?

Now you’re finally able to give these poor people who’ve shown up in your office, you’re finally able to give them some hope, okay? But you’re not allowed to do that until they agree that you are the solution to their problem. So the person sitting across from Steve getting married hasn’t paid taxes in 15 years.

They look at Steve and Steve says, it’s not the worst thing I’ve ever seen, but I’ve seen some pretty bad stuff. And this is right there. It’s right up there. So I’m not sure what you’re going to do. Like I said, your passport will probably be fine, but the car in the bank account, and then he sits back and the person looks at him and what does the person say?

Can you help me? Can you help me?

And if they don’t say, can you help me? And five minutes passes and it gets really uncomfortable, then you’re allowed to look at them and go, would you like some help with that?

That’s how you close a deal. That phrase is the closing phrase. Would you like some help with that?

Fantastic way to close deals.

Your job is to help people, but we can’t help those who are not willing to help themselves. So until they come to you and say to you, I have this problem, and they reveal and admit what the real problem is until they are so worked up that they need help solving that problem. And until they ask for help or agree to accept your help, you can’t share the solution. Step five is giving them hope by sharing the solution. Now, here’s the thing, and this is a key point.

If you don’t take anything else away from our time together, this is worth the cost of breakfast for you.

You don’t say to them, hire me. You say the solution is to find someone who could solve this problem. And then you just look at him, they’re in his office, it says IRS resolutions on the door, right? His business card says we solve IRS problems, okay?

And he says, the solution for you is to work with an attorney who solves these problems. That’s the solution. And then if they haven’t said already, will you help me? They’re going to say, will you help me? That’s the point where you give them hope.

Now, if you were going to climb Mount Everest, would you climb Mount Everest with somebody who had read the map and sat down with you and traced their finger on the map to show you how it was going to go? Or would you climb Mount Everest to somebody who’d been up to the top of Mount average 6, 7, 8, 10, 14 times? If you were smart, you’d go with the Sherpa who’d been up there 6, 7, 8, 10, 14 times. My counsel to you, best advice I can give you: Find somebody who’s done what you want to do and follow that person. Don’t hire somebody. Don’t connect with somebody who has not been there, who has not done that. The experience the person has is so important. It would be hiring a realtor who had never owned a house,

Dave Lorenzo:

People were laughing. Rhonda, do you know realtors who’ve never owned a house? I know a lot of realtors who’ve never owned a house, right? So you need to look for someone. They need to find you because you’ve been there and you’ve done that.

Nicola Gelormino:

This is your chance to change everything for your business, you personally and your life. You have the chance to discover the secret to using leverage and working with people who have the knowledge and expertise and have in there and done that by coming here to this breakfast, we have taken you behind the curtain and given you a glimpse of what the future of business coaching is going to look like. It’s a hybrid, a program between business coaching and consulting.

Dave Lorenzo:

So this is the point where you’re so excited, you’re going to be like, lemme tell you about my qualifications, right? Lemme tell you how great I’m, let me tell you why I’m a person for you. Don’t do it yet.

Delay that gratification. Okay?

Here’s the reason why. What you need to do first is you need to give the person sitting across from you the qualifications of the expert. So in Klitzner”s case, he would say something to the effect of, I’ve been doing this for 25 years. I’ve been doing this for 25 years. Before that, I was a lawyer who went to court.

But if you’re going to hire somebody who’s going to solve your iOS problems, my recommendation would be to look for a lawyer with 25 years of experience to connect with somebody who’s got malpractice insurance, to make sure that when you’re connecting with the person you’re talking to about your tax problems, everything is going to be kept confidential.

So Klitzner first and foremost describes the ideal qualities of someone who they should connect with. In my case, what I do in my business is I say to people all the time, and you guys are sick of this, but I’m going to keep saying it because it’s what differentiates me from everybody else.

I built five businesses over the last 33 years. Last two businesses I built for other people was a startup that went from zero to $50 million in three years in New York City. If you think that’s not hard, try it. Second business, I built zero to $250 million in annual revenue in consulting, global consulting based in New York City. So if somebody is looking for someone to help them build a business, my recommendation to them is find somebody who’s built a big business. And it’s better if you find somebody who’s built a big business quickly.

So you give what’s called the generic solution. Klitzner doesn’t tell them, hire me. Klitzner says, find a lawyer with 25 years of experience solving IRS problems. And here’s the reason why. You need a lawyer and not somebody with a jingle on AM radio. You need a lawyer because lawyers have malpractice insurance. Something goes wrong, you got a solution. Lawyers have to keep things confidential or they’re not lawyers anymore. That’s a big deal if you’ve got an IRS problem. That’s the reason why you need to hire a lawyer. So Klitzner sells them on hiring a lawyer first. Then they’re sitting in a chair across from Steve and they’re going, I wonder where I can find somebody like this. And then they kind of glance up above his shoulder and they see law school.

Nicola Gelormino:

Let’s take Dave. Dave has spent the last 30 years developing this system that we’re talking about here today. Built it, developed it used this to build, as he mentioned, five businesses, two from the ground up. Opened three hotels.The reason all of you are in this room today, believe it or not, is because of that system. I mentioned earlier that Maria Castillo Dominguez, Lenny Sklawer, and I had the opportunity to present at that provisor Group Leader Summit, and we dominated that event and won over 300 group leaders because of this system. I personally worked with Dave to use the system to build the Florida Lawyers Affinity Group. That group now has nearly a hundred members. It was built less than a year, and it has added significant value to my business, all because of business.

Dave Lorenzo:

So your prospective clients, they have to have a real clear vision of the future, and that is step number seven.

Step number seven for how to dominate a new market is you sharing your vision of the future with your client. A future that does not include the problem that they have. Okay? The way you do that is you get them to sit back while you describe to them the things that you are going to do together.

You say to them, the first steps we’re going to take. So like Steve would say to them, the first steps we’re going to take is that shoebox with all the letters from the IRS. I need you to bring it in. Oh, you got it here. Oh, it’s in your briefcases. Great. And they dump ’em all on the desk and Steve says, okay, we’re going to make all these go away. Nobody else talks to the IRS from now on, but me.

You don’t have to talk to ’em. You’re not going to get any more letters. That’s the first step in this process.

Steve is sharing with them the vision for the future by letting them know what the first step is, and this is critical. And then he says to them, first thing I’m going to do when you leave the office, I’m going to make a call the revenue agent, who’s handling your case, and the officer who’s their supervisor. I work with them on a lot of cases. I’m going to call ’em. I’m going to tell them that we’ll be filing something today, and they’re not going to levy your bank account.  And then he’s going to say to them, what we’re going to do is we’re going to work with the IRS within the guidelines that the government has set up, and we’re going to try and make a deal with them based on what your income is and how much you can pay.

So I’m going to need some things from you. And then he hands ’em a pad and he hands ’em a pen and he says, write this down. You’re going to need to bring this back to me within the next four or five days. And then he gives them a list of the things they need to bring back to him. And then at the end of that time, he says, and now I want to introduce you to Josh. Josh is going to handle all the arrangements with you. He’s going to create an engagement agreement. He’s going to take care of the investment that you’re going to make to make this problem go away. But I need you to know that because you came in here today, you made a great decision. The future’s going to be very different for you compared to what it would’ve been if you hadn’t come into my office.

So I’m glad you’re here. Thank you so much. If you have any questions about this process or what the future’s going to look like after handling this IRS issue, just call me anytime. And he hands him his business call. Okay?

That whole process is about Steve painting a picture of the future for a person who walked into his office without hope, what he didn’t do was skip all six of the steps that proceeded it. He made sure he followed all six of those steps. Because here’s what happens. In Steve’s case, and in all of your cases, if you let these people out of your office, there’s a really good chance you’re never going to see them again. They’re going to evaporate into the ether. These people just disappear, and you’re sitting there wondering, are they going to sign an engagement agreement? I wonder when they’re going to send it back.

Worst thing in the world, my friends, I’m going to tell you this for me personally, worst thing in the world is for me to mentally spend money I have not earned yet. Okay? I got an engagement agreement out there in the street somewhere. I’m thinking to myself.

We all do it, right?

You get one client, you sign up, you get another client. That engagement agreement goes out. You’re thinking to yourself, if I could do 10 of these a week, I’d be rich. You could do 10 of those in a month. You’d be in good shape, right? We think to ourselves, I’m going to send out the engagement agreement. We skip all the other steps, and it’s false hope because what happens with that engagement agreement? Maybe it doesn’t go into garbage, but it goes on the side of the desk that never gets looked at. So the seventh step is to share your vision of the future for the prospect, how things are going to get better.

Nicola Gelormino:

I’m not telling you what to do. I’m not decision is yours. And I’ll say this, nothing happens until you make a change and you make a decision. Personally, I made the decision to leave a national firm after nearly a decade and open my own law practice nearly two years ago, and now I’m making the decision to start this business with Dave. Why? Because I believe in the value that we can deliver to professionals, and I believe in the value that we can deliver to entrepreneurs and CEOs through this business.

You have a choice. And for you, you have the opportunity to make the choice to work with a team that’s dedicated to your success. The opportunity to join community professionals. We’re going to make working fun again.

Dave Lorenzo:

So I’m going to recap the seven steps. In the meantime, I’m going to ask Nicole and pass these out. If you’ve already signed up, if you’re a member of the Exit Success Lab, ESL, stand up right now.

Please, if you’ve already signed up, Randy. Thank you. Thank you so much. Okay, so here are the thank you guys. Keep a nice round of applause for these folks. I’m going to tell you what they signed up for in a minute.

Nicola is handing out a sheet of paper, which I’ll go over with you in a second. So here are the seven steps, and by the way, I have notes that go along with this that I’m going to send out to everyone who’s in attendance. Okay? So those of you who signed in with Steve Klitzner, the guy who solves IRS problems, if you signed in with him, you’ll get the notes.

If you didn’t sign in with Steve, okay? If you’re like a sneaky Pete and you somehow got by ’em, you need to go see Steve. Steve, stand up again, Steve. He solves IRS problems. Clap your hands for him being a good sport.

If you want the notes from today’s presentation, you got to sign up. You got to make sure you’re on the list with Steve.

That’s who’s going to get the notes.

Step one, get in front of your ideal clients and only ideal clients.

Step two, figure out what’s killing them.

Step three, figure out how much is costing them. There’s three types of costs, remember three types of costs, right?

Step four in how to dominate a new market, help them see how much worse this 10 get.

Step five, this is step you love. Everybody loves this one. Hope. You’re going to give ’em hope. You’re going to share the solution.

Step six, give them the knowledge to evaluate the expert. Give them that generic solution. Step seven, share the vision for the future.

Step seven is share the vision for the future. So those are the seven steps. Now, we shared this with you today because number one, I wanted to deliver value to all of you for being here at breakfast. But number two, this is what I’ve helped people do for 33 years in my career, and this is what Nicola is helping me do right now with ESL, with Exit Success Lab.

So those of you who don’t know the name, exit Success Lab comes from entrepreneurs and CEOs coming to me, asking me for options when they’re ready to exit their business, most often, A CEO will come to me and they’ll say, I got to get out of this business in the next year. My wife is sick. Or I got to get out of this business in the next year.

I can’t take it anymore, and they don’t have any options. They got to sell to a private equity firm, or they got to sell to a competitor, or they got to sell to their management team. If I get in there and work with them 5, 6, 7, 10 years in advance, they have more options.

They can make more money. They can build more equity in their business. Even if they don’t know when they’re going to sell or they don’t want to sell or they’re never going to sell, they’re going to die at their desk. The program we have for these entrepreneurs will help them make more money.

The reason that we’re talking to all of you about this today is because Nicola and I need all of you, there are 10 drivers of business value, 10 drivers of enterprise value, and then there are seven lifestyle elements that these people go through when they exit, okay?

We are focusing on doing audits of these businesses and helping these business owners improve the value of their businesses. We need experts like you to help us improve the value of their businesses.

So when it comes to doing a legal audit, when need people like Susan Troy and Randy to come in and look at their IP and make sure their IP has been properly protected, so we can turn them over to John Alfonsi of Cendrowski Corporate Advisors, to do a valuation not only of the IP, but of the entire business.

So the sheet that you have in front of you are the benefits of becoming a member of the Exit Success Lab. The biggest benefit is that we’re going to teach you how to build your professional practice the way I’ve built my businesses over the last 33 years. That’s the biggest benefit. A secondary benefit is that we’re going to put you in front of entrepreneurs if you’re good, okay?

If you suck, we’re not putting you in front of anybody, but if you’re good, we’re going to put you in front of entrepreneurs who can hire you, who can use you to deliver your services to them. We’re not taking any fee from you for connecting you with these people. You’re going to be able to do presentations, educational events in front of them, in rooms like this on Zoom as well, and in a huge gathering that we’re organizing for the late summer.

That’s the opportunity we have, and we’re offering it to you first because you came to breakfast.

If this interests you and you want more information, go to exit success There’s a big red button, the one that says professionals. That’s for you. If you want to see what the entrepreneurs get, there’s another button there, but that’s not for you. The one that says Professionals is for you.

It is incredibly cheap because we’re taking 15 more people as professionals to work with us. We’ve got 15 great people already enrolled, people who are phenomenal, who we are thrilled to be working with. So if this is something that interests you, the website is there. Sign up. If you just want to talk about it, sign up and we’ll talk about it.

Dave Lorenzo closes the show after the live talk ends:

Thanks for joining us for this talk on dominating a new market within 12 months. We hope you got a lot of great tips and ideas. We’ll see you back here again tomorrow for this Sunday special. Until then, here’s hoping you make a great living and live a great life.

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