Have you already incorporated AI in your business?
According to a recent Marpost survey, 73% of marketers are now using generative AI tools.
In this episode we have a special guest, Mike Koenigs, a serial entrepreneur, a 17-time #1 bestselling author, and an expert on using AI tools that can transform your business and elevate your success.
-How you can leverage AI to supercharge your productivity in business
-A powerful referral strategy that can instantly close multiple deals in 1 hour or less
-How to avoid doing the same thing twice, incorporating AI into your meetings.
I was just at a conference, they mentioned, “AI won’t replace doctors, but doctors who don’t use AI will be replaced.”
This statement rings true for all industries.
Continued Learning: How to 3X Your Sales & Increase Productivity
- Want to know what’s keeping you from doubling your sales in the next 12 months? Take our quick QUIZ to get answers: Howtodoublesales.com
- If you’d like to have a profound breakthrough in your business, schedule your breakthrough call with a LIVE expert here: Chetholmes.com/Breakthrough
- Claim your FREE chapter 4 from the top 10 most recommended marketing and sales books of all time! Visit: Ultimatesalesmachine.com to find out how you Create 9X More Impact from every move you’re already making to win clients!
*this transcript was mostly generated by AI, please excuse any mistakes
Amanda: It’s such an utter joy and delight to have Mike here. Just as we were trying to catch up, we haven’t seen each other in so long, but as we’re catching up, every single thing that came out of your mouth, I’m like, what? What? This guy, I can’t even believe it. So we’re at the biohacking conference right now, and Mike Koenigs is about to speak later today.
Um, can you share a bit of, um, For those that, oh man, I want to go back but then I just want to talk about what you’re doing right now. That’s fine, that’s fine. Can we, can we talk about, so he just released a book last week, what is it called?
Mike: Punch the Elephant. It’s how to sell anything to [00:01:00] anyone, even if you hate sales.
So that’s, uh.
Amanda: Well considering 97% of our prospects hate people that sell. Yes. That’s a pretty good idea. Well this
Mike: makes it fun. This makes it fun because you get to compose a movie. about the future paced life you want to live in the conversation. So someone actually sells themselves by answering one question.
Okay, tell me. Oh, okay. So, it’s, it’s, so, I always say it, I have to give credit where credit is due. Okay. If you’ve ever heard the Dan Sullivan question before from Strategic Coach, he, the Dan Sullivan question is, if you and I were to meet three years from today, What will have happened personally and professionally for you to feel satisfied with your progress.
Okay. Okay, so that’s a really good question It really makes people think I Adjusted it a little bit Because at one point I reached a point about six years ago. I’ve been an entrepreneur for 30 some years gone through all the trials tribulations [00:02:00] and traumas and I realized I love launching and starting companies.
I hate running them So I thought oh I want to create a business where and I in Dan And so I, I asked Dan, I said, what do you think I should do? And he goes, I don’t know, but go out and ask 20 entrepreneurs the Dan Sullivan question followed by the followup questions. Okay. I’ll give you those as well. And you’ll have your answer on what you should do next.
He says, but you can’t sell anything. Now I can’t help myself. If someone describes what they want, I’m going to like, I know how to do that. I can help you do that. I can make a product that can do that. So, here’s what happened. The adjusted question is, so if we were talking, and someone needs to know a little bit about you, but I’d frame it, you know, and here’s how I’d frame it for someone.
So I’d say, so I want you to imagine Amanda, let’s pretend that you and I were going to meet, I don’t care if it’s a year from now or three years from now, and let’s say I help you reinvent yourself, create your next act, help you create a perfect offer, all the marketing materials you, [00:03:00] Want and have and you don’t have to do any homework.
You just show up and we do it And we get it done in a week. So you have a great platform. You have a great business You can go out and start selling right away. So I want you to imagine now that we were sitting down Celebrating your success a year from today. Okay. What are we celebrating? Okay. Well, basically what they do Is they know what you do?
They’re pre framed. They imagine their future pay is sold, but it’s in the context of working together So now they’re selling themselves into the dream. It’s so brain dead simple. Oh my god. And you’re not forcing anyone to do anything. Right. And then you’re just saying, and then what else? And then what else?
And then what else? And you let them scoop on the joy and feel the success. Oh my
Amanda: gosh. Yeah. That is so good. Isn’t that yummy? That
Mike: is so good. So that’s question one of five in Punch the Elephant. Oh, okay, okay. And then the, the, the knockout punch. Okay. Okay. Yes. At the end, you have to ask [00:04:00] someone after, after you ask the other questions, you’ll say, So, um, do you want to know what it’s like to work together?
They’ll go, well, of course, because they already sold themselves in at question number one. The other ones just support that. So you’ll say, well, here’s what we’re going to do, and this is what it’s like. Here’s what the buying experience and the ownership experience is like. You describe that. And then you get them to commit on the date to start.
Like, okay. That, wait, wait, wait, that’s critical,
Amanda: that’s critical. It’s so good. Okay, so what date
Mike: do you say you can pick this day or this day. Okay. It’s this or that. You, okay, it’s not like, what date do you have available? No! The moment you lose control of the conversation, they’re gone, okay? Okay. And what we as humans respect and love and adore is leadership.
Yeah. Okay, we want that. And, and someone’s gonna take the position. So once they’ve committed, then you’ll say, and the [00:05:00] investment is, in my case, it’ll be 250, 000. And then you shut up. And then if they’re like, well, that sounds great. And then, you know, wire transfer the money, and then, I always tell people, Now, yes is great, or no is fine, no is fine, yes is great, I don’t live in the world of maybes.
So if you ghost me, our relationship ends for life. Okay? It’s never acceptable. It’s totally okay to say no, but I don’t work with anyone who lives in the world of maybe. You’re in or you’re out. Now, if they go, hmm, and there’s any, any hesitation, I’ll say, well, where are you on a scale of 1 to 10? They’ll go, I’m a 7.
Okay, okay, well, what would it take to make you a 10? They’ll go, well, I have to talk to, blah, blah, blah, or I have to talk to my CFO or my, and I like, and those are called EELS, because EELS kill deals. They go, oh, really? Okay, great. What’s the EELS name? It’s Mabel. Okay. We’ll say Pat, [00:06:00] because it could either be a man or a lady.
Okay, so Pat. Pat’s the… Okay, well, tell me, what’s the first thing Pat will say when you describe what we’ve been discussing today? And I’ll be like, oh, Pat’ll say… Blah, blah, blah, blah, blah. I go, what else? Blah, blah, blah, blah, blah, blah. Okay, so now I got two objections. It’s someone else’s objections. That’s why people say no.
They’re afraid of shame making the wrong decision. They’re afraid of them failing the system, not the system failing them. That’s the real reason. We’re so afraid of banishment and being dumb. Being stupid. Right? What will happen if? All those fear things come up. And then I’ll say, well, what’s the number one thing you’ve been promising Pat that you haven’t delivered on?
It could be, oh, I’ve been promising Pat we’re gonna go on vacation for two weeks, uh, without a phone, without a computer, without any meetings. Okay? I’ve been, blah, blah, blah, blah. CFO, it’s a professional or a personal relationship. There’s a reason why. And again, [00:07:00] there’s a communications problem. That’s the real thing.
It’s an internal communication problem and external communication problem. So then I make an eel killer video, which is Hi, all you need to do is introduce me And then I’m gonna do everything else. All you have to do is shut up and watch. Okay, so then I make a video I’d pull up my phone and I’d go Something like this.
I go Okay, go ahead and introduce me and then you’d start. Hi Pat This is that guy Mike Koenigs you were talking about and he and he talked to me about blah blah blah. I’m like And I’ll say, Hi Pat, so I know what you’re probably thinking, this is another punch the elephant number one, just like that, here’s my job, it’s to give you that vacation that this knucklehead’s been promising you for years that he hasn’t fulfilled on and I’m going to tell you how this is different and how that’s going to happen and you’re in control, this is your decision, I will not work with this person unless you say yes.
[00:08:00] So now if you dive into the psychology of that, Oh
Amanda: my God, it’s so good. And it’s, and can I just recognize you for how, I mean, it just shows what a true expert Mike is that you gave. Oh God. I mean the strategic, the bigger thought, but then you broke it down into such easy tactics. And even that takeaway of when you have another decision maker to do a video.
So, please be writing this down, please be taking note, and please take action on it because I’m gonna find some way to do that today because it’s too
Mike: good. So I will, so this is, it ain’t bragging if it’s true, I, is that, is that, okay, yes, it ain’t bragging if it’s true, so I, the investment to work with me now is 250 to a million dollars.
I love you. And I’ll, people will commit on the first call. Or the second. And they will have, in some cases, never [00:09:00] heard of me before. And they may have, maybe they’ll have listened to a podcast episode, okay. Or read a book. Now, the best way, of course, is they see us speak on stage because that’s when the big or a referral, okay?
But that’s why referral party exists. Because if I had no other resources of leads other than referrals, you don’t need a website. You don’t need need a, you need a phone. Yeah, you have a smartphone. That’s all you need.
Amanda: And he’s releasing a book a quarter right now, because you’ve gotten it down to such a science.
Mike: I’m insane. Yes, exactly. You are insane. No, honestly, it’s because I get to work with so many people these days who are so smart and motivating. I do it because I’m exposed to things. Here’s one little secret to getting a lot of stuff done. I use a tool called Otter. Otter. ai. Oh, I’ve heard of it, but I don’t know.
So what I do is I’ll ask permission. I’ll say, well, if it’s okay with you, Amanda. Is it okay if I record this conversation while we brainstorm? And I will give you the transcript. There’s a high probability you’re gonna walk away with a [00:10:00] breakthrough. So will I. And what I promise to do is send you the link to the recording.
Okay. And I will even use, uh, AI to auto transcribe it and turn it into a summary document. And if I’m describing a process, I will even turn it into a step by step. SOP, Standard Operating Procedure, that you and someone else can follow. And Otter does this? Yeah. Greg, who you Otter doesn’t do it. Oh, okay. I take the transcript, and then I create a prompt.
I’ll tell you what the prompt is. Okay. I take the transcript, and I copy paste it into ChatGPT with the following. I want you to summarize this transcript and create bullets of every… Item discussed, include an ELI5 description of each one, which is an explain it like I’m five, because it’s got to be for knuckleheads like me.
Okay. Got to use nickel words and not five dollar words, okay? [00:11:00] Okay, great prompt. And, I want you to create a list of every tool and website mentioned, and then, I want you to create a step by step SOP, Standard Operating Procedure, That I can give to an assistant so they can follow and replicate this process.
Now here’s why this is important. You’re already there. I saw I saw your boop boop boop boop boop, but so Every single conversation I ever have every single thing I do. I only want to do it once I hate repeating myself So it’s an old childhood trauma of not being listened to by my mother. That’s really the God honest truth.
Okay. Oh But, the way I’ve turned that into a life of abundance and happiness and joy for other people. I have long resolved it. I’m good with it. But it wounded me badly. No, but I appreciate you sharing. Oh, thanks. So, now what I do is I use that as an opportunity to capture a [00:12:00] process. Because, you know, when you get two creative people who love to collaborate and talk, why not turn that into something that can change someone else’s life and improve their life?
Well. I’m always thinking about how do I turn the thing I’m doing right now and the way I’m helping someone into a book or a product or something, and then it could turn into an app. Well, that turned into a business, right? Because people don’t think this way normally. And the net result is if someone says, Hey, you told me once about this referral idea.
And I go, Yeah, let me sit down. I’ll do it with you right now. So I pulled out my phone. I put it on a tripod. Yeah. I started Otter. And I showed them how to do a referral party. And then they said, Oh man, I’m so glad you recorded this. And I go, well, here’s what I’m going to do. I’m going to summarize it for you and I’ll give you all the bullets.
And they’re like, Oh my God. And I looked at it. I’m like, this is really good. So then I did it two more times. And then I, now this is honestly before AI. So I wrote that book completely manually, the [00:13:00] old style way. And I had, I had someone help me. But, um, now I’ve been writing a book a quarter, and I can, I can crank out a book, a good book in two days.
Just by helping
Amanda: people. I mean, into perspective, people will take a decade, right? It took me four years to write the new edition of My Father’s, and that was only just a hundred pages. Oh my god. So good. Solve a problem and capture it. Okay, okay, and then referral party.
Mike: Oh, you want to hear that? Yeah, I’ll give you the referral party.
I’ll do the whole thing. Alright, so here’s what I do.
Amanda: Wait, can I give a stat before you talk about it? Yes. So, 90% of your clients would give you a referral, but only 10% of sales people ask. Okay, now go. Oh my god.
Mike: Yes. Market data. NPS, Net Promoter Score, right? Okay. So the whole idea is, the question is, how likely are you to refer us to someone else?
That is considered the highest, most valuable. [00:14:00] Feedback you can give to a business. There’s a whole industry that revolves around it, right? It’s so genius. Well, I remember the first time I heard I’m like that’s stupid. It doesn’t make sense because I just didn’t click Because yeah, it’s referrals and and if you think about it If someone you trust and like is willing to risk their reputation on your behalf Okay.
So in other words, I’m gonna tell you about something and if you come back to me and say that was stupid, right? Why did why did you tell me to do that? My baby died. Okay. It would be like, Oh, that’d be terrible. You’re like, they blame it on you. I know. I just wanted to use that. I wanted to use the super harsh.
You told me to get that car seat that they broke it. You know? So again, I had to use something terrible. But on the other hand, that one piece of advice saved my mom’s life. Right? Just imagine if you turn someone on to a stem cell doctor or some sort of a treatment protocol that you’d never would have heard of that was too small or too heavy.
They have terrible [00:15:00] marketing, or the spokesperson, or the founder is just so shy and introverted they don’t get out there. But they’re changing and saving lives. Okay, well, referrals. So here’s how it works. I would say to you, Amanda, I have an idea. Now, first of all, this has to be a genuine relationship. If you start with a taker mentality, it doesn’t work.
And the second thing is… It has to be with someone who genuinely has trusted relationships around them. Otherwise, you’re doing neither of you any, any benefit at all. Now, so you have to be selective and you have to be willing, like I say, to risk your reputation on that individual. Okay. So this is, and this is a great test because if the answer to the question I’m about to give you is a no, it doesn’t work.
So here’s how it would work. Amanda, it’s been a little while since we’ve chatted. I’d love to schedule a conversation with you, a little Zoom meeting. I prefer to do Zoom for the reason I’m about to share. Okay. [00:16:00] And we’ll schedule an hour together. I want you to tell what you’re doing, give me an idea of your offer, who your perfect customer is, and what I’ll do is in real time, I will look through my entire database.
So I’ll look through all my contacts, all my most recent messages, my emails, and my entire database. And I will make somewhere between four and twenty introductions in real time with you. That includes a video intro. No! No freaking way! Yeah. Oh, just wait, it gets better. Oh, gosh! Well, you ain’t gonna say no to that, right?
So, and what I’ll do ahead of time is I’ll write. I’m gonna do my homework, so I’m gonna have a Google Doc that I’ll have shared, because it has to be collaborative, and you’ll show up for the Zoom meeting, and I’ll say, alright, now here’s what we’re gonna do. First of all… I’m going to run order and I’m going to transcribe this because I know some gold is going to come out of it and it’s going to help me create some messaging for you.
And I’ve already pre written some intros. Okay. Oh, that’s a good idea. So [00:17:00] I’ve done the homework and I’ve done it for you and for me, even though I haven’t asked for anything yet. Okay. So I’d say, tell me about your current offer, blah, blah, blah, blah, blah. Who’s your perfect customer, blah, blah, blah. And I’m thinking to myself, who do I know, who do I know, who do I know, or who do I know, who do I know, right?
Because it could be a, uh, A referral to a really good connector. Yeah. That’s where the magic happens. Okay, great. So, I’m going to make a list. Oh, it’s this person, this person, this person, and in my mind I’m thinking, okay, what do I have to say? So, I’m going to say, okay, here’s what we’re going to do. I’m going to start recording a little video, and what I’m going to do is I’m going to, um, say, hi, this is my friend Amanda Holmes, and she is the best in the world at doubling your sales.
And she’s got a whole organization that will help you do that. And I’ve known her a long time. First of all, here’s what’s important. I know you’ll like each other because you have shared common values, and that’s what matters most, and I love her, and I love you. So I’m, I’m making an individual one on one video, and I will not waste your time.
So, here’s, uh, first of all, Amanda, why [00:18:00] don’t you tell, in one minute, do a quick pitch, okay? That’s great. Boop, boop. Yeah, yeah, yeah. Okay, good. So here’s your instruction. Here’s the intro. I just made a text video intro to you. I want you guys to connect, share your contact information, have a conversation, and let me know how it goes.
That’s all I ask for. Okay? See ya! Okay. Boop! Okay. That’ll be one to two minutes. Okay. So then, I will take that video. Yeah. And now I use Zoom has a capability, if you have the paid version, you can actually record directly to a YouTube video. Okay. But you can also record a video video, right? But I like doing it now now.
Okay. So I take that video, and I take a text message and I go, Hey, uh, Billy, Billy May, this is Amanda Holmes, watch the video, share your contact information, you’re gonna love each other. Bop. Okay? I’m doing that in real time. So in 30 minutes, I will have introduced you to 4 or 2 as many as 20 people. So then, you’re going to be [00:19:00] like, Holy crap, because what’s going to happen is, usually within two to four minutes, if I did twelve people, you’ll have gotten four responses that say, send me your booking link, I’m all in.
Oh my god. And these are one call closes. So then, you’ll be like, Holy shizzle. Shizzle juice, shizzle juice. Shizzle juice. We’re shizzling all over the place. This place Is that a hashtag? Yeah, exactly. That is. That’s good. I have to tell you what my new domain is, and we’re done. Oh my god. Shitsreal. com. I bought it.
Because why not? Uh, so, had to get it. Anyway, here’s what happens. You’ll say, can I do the same for you? I’ll be like, oh, okay. So, we’ll have a little conversation, and then you’re thinking, oh my god. This person, this person, this person. Yeah, we both win. Took one hour. So what I do now is I have a bunch of [00:20:00] really good clients and we schedule every quarter.
In some cases I’ve got a couple people I do it monthly. Wow. And like I said, I do marketing because I need to practice marketing to do it for all my clients but I don’t even need it anymore because just the referrals alone from referral party will do that.
Amanda: Boom. Okay. Boom. Okay. I mean, you’ve dropped so much, so many nuggets.
How do people find you? Okay. It’s been
Mike: too good. Well, you can go to shitsreal. com slash free. Um, that way you don’t have to spell my name, which is Mike K O E N I G S dot com. So it goes to the same place. Okay. Okay. But I just shitsreal. com because why not? And then, uh, I’ve got a little, I’ve got AI products.
I’ve got the book. So, oh, so here’s, here’s what you get. My, It’s a book called Your Next Act. It’s about reinventing yourself. So it’s how to create a business you’ll love for the rest of your life. It’s a little formula for that. So here’s what happens to all founders. At some [00:21:00] point, it could be in your 40s, 50s, 60s, maybe even 70s, you wake up one day and you’re like, I’ve traded a lot of my energy, my soul, my body, sometimes my marriage, sometimes All the ups and downs of life, relationships with my kids, you know, like all this time goes and you’re like, I want a simpler life.
I want something that’s high net, low overhead, the fewest moving parts, none or almost no employees. Because at some point you’re like, if it isn’t that, it’s the freaking state breathing down your back. I live in the People’s Republic of California, you know. And, um, they ain’t exactly business friendly. So, um, So, you have this moment, or in my case, I had a huge health thing come up, and I’m like, I almost died.
I don’t want to go back to this aggravating. Yeah. So, um, that’s what your next act’s about. Anyway, so, [00:22:00] at shitsreal. com slash free, you can have the book for free.
Amanda: Wow. There. Is that okay? I mean, was that okay? I think that was more than okay. That was magnificent. So many yummy things. So many lovely things, and it was so quickly and succinct.
Oh, good. Thank you. Thank you. It’s always my pleasure. Isn’t he magnificent?
Mike: Oh. I know who you are. Mmm. Okay. The answer’s always yes to Amanda Holmes. Oh.
Troy: So here’s the deal. I am so grateful to Chad Holmes for all that I’ve learned, but it’s actually Amanda Holmes that taught me the exact strategies that I needed to create 42 million in seven months.
I was so reignited. I asked Amanda, is there any way I could come and work alongside you and help your clients be able to get results? Like I just got.
Hi, I’m Troy Aberly, now the Executive Strategy Officer at chi.
a privilege to see this wonderful woman lighting up the stages with actionable strategies and creating immediate results.
It’s hard for me to imagine that you could get anyone else better at your event than Amanda because of the impact that she can create.
Who [00:23:00] knows if Amanda is even available for your event date? Go to chat homes.com/speaking and check out her availability. This could be the event that could change your life just as it did for me.