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Mike Cooch is a very successful entrepreneur, starting from when he was right out of college.  He has started multiple companies including an IT company, a digital marketing agency, e-commerce, and information publishing. He has been engulfed in online software and it has helped him run successful businesses and also allows him to spend time with his family.
I wanted to know how he created this repeatable process, what it contains, and how it can help others create their own process that works!  I also asked him a lot about teams–how to keep everyone motivated, how to track progress, and how to keep everyone accountable.
There are 3 parts to building your system: define what you’re offering, have the ability to say no, have a healthy sales pipeline.  He recommends making it clear as to what you’re selling and define your package. If the client doesn’t like what you’re offering, that’s where you need to say, “No.”  A lot of times, agency owners tweak what they are offering in order to satisfy the client, but that may not be your best sales pitch. Sell in a scalable way. Have discipline and be firm with what you’re selling. Lastly, the thing you cannot do without the first two steps is to have a healthy sales pipeline. Know what you’re going to say “yes” to so that it shortens your sales cycle!
Present your package to your client while making it seem like it isn’t a repeatable process you’ve used for 50 years.  Make the client still feel like they are a unique part of your business and not just another money source for you.
Open book management- The idea is to give people the tools that they need in order to be great at their job, therefore the first step to this management is finding the right people.  Find people who are internally motivated and want to do their part in reaching the business’s goals.
Measurement- Find a measure and note it on the daily scorecard.  This allows for fast feedback. See what you did in the day and how close you are to reaching your goal. If you have the right people, they will be motivated to contribute to the overall goal.
Daily huddles vs. meetings- Have a quick huddle every day (huddle= sports term to create this type of “team” environment).  In this daily huddle, everyone knows their priorities and everyone in the team can be heard. This also allows for team members to talk about their struggles and find solutions.
How to Start the Day
Mike starts every day with a cold shower to shock his system!  Be in the best emotional state so that every decision you make throughout the day is coming from a positive place.  Activate your mind and body so that it is ready to kick a$$! To get your mind ready, ask yourself what you’re grateful for and what you’re excited about that’s coming up today. Don’t make decisions when you are tired, angry, or in a down mood.  It starts with how you wake up!
Determining Your Own Fate
Get yourself to perform at a very high level no matter what circumstances you are in.  I like to bring in my athlete analogy with Kobe Bryant and Dwayne Wade–people who come from two different backgrounds can still both thrive. No excuses.
Sometimes your downfall is the fuel to your fire! Mike talks about creating meaning to create more of an impact.  Don’t be the victim, but be in control. Mental game is so important because it can set you up for success or it can control you.
Tips for an Entrepreneur
Laser focus on a particular audience (maybe by industry). This helps you define and be specific in your packages. This opens the door to channels.  You can look into marketing channels- associations, trade shows, newsletters, websites, etc. You will increase your sales with these pre-established channels.
Find your balance between a value proposition and having enough margin to run a healthy business. Have the numbers work for your clients AND your own business.
Recurring revenue. It’s all about creating long-term revenue. Incorporate that into your package.  After a year, you generate good profit from that client with the right margins and the right services you are offering.
Customization vs. Repeatable System
You may be thinking that you will get the most amount of sales and closes if you customize your packages to whatever the client wants.  To some extent, this does work, and in the beginning you may have to do this to score clients. After you have had the experience with different clients in various industries, Mike recommends to niche down.  Find something you’re good at and you’re passionate about. Create a package you can use every time, and if someone wants to change something, you can say “No.” When you start customizing is when you waste time and create more work for yourself.  During this time, you could’ve gave your already-made package to 10 people in the same industry.
Get the experience you need in order to have the ability to be selective.  Not every client is the right client!
If you want to know how I structure my packages or how to select the RIGHT clients, get on a call with me! https://calendly.com/customcreatives/30min Schedule it now!
Watch the full video on Youtube if you want to learn how to create your repeatable process, if you want to learn how to lead your team, or if you are trying to make it as an entrepreneur! https://youtu.be/V17tAMRdjGc
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