142 | From $1 to $23 Million in Ten Months with Mike Agugliaro
If the title didn’t catch your eye, lean in a little closer. Listen and learn to how Mike Agugliaro completely shifted his business by shifting his mindset, skills and frequency of taking action in as little as 10 months. It’s incredible what is possible when intentional tweaks are made. When in a place of true service, trust is one major factor essential to the process. It just goes to show that guiding others in producing successful results brings you extraordinary success.
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Mike’s Target Audience: Mike serves business owners by coaching business owners of plumbing, heating, cooling, electric and pest control companies. The aim is to guide them on how to grow their business fast and easily.
Mike’s business has grown exponentially in the last 10 months. The company produced $1 million for ten consecutive years and suddenly shifted to a whopping $23 million per year and has 130 employees and 100 service trucks on the road. After 10 years of producing the same revenue, this is kind of a big deal! Mike anticipates creeping up to $25 million in the year ahead.
So what shifted? According to Mike it was 3 aspects. 1) Mindset: Mike realizes he had a rather limited belief system, felt he didn’t deserve success and engaged in self sabotage. 2) Skill Set: Before this expanded success, he didn’t have marketing and operational finance skills which he does now. It was important that he acquired those skills. 3) Action: Mike started taking massive action each and every day. Something he was not doing before.
The decision to provide coaching services was made because of the low overhead and high profit nature of it. He also switched frameworks from making money to making WEALTH. He got creative about all the other ways he could create it. Coaching and helping others were already things he prebuilt so it was a logical direction to go in.
Mike started creating 4- day events funneling into a 12 month program. The events provide a gain in trust and credibility. He got out of his own way and started doing videos (built the “know like and trust factor”). He gave himself an “expert” status. He planned for 4 day events and trusted he would have people in the room. Mike charges $5,000 for 3 day events. Sounds like a lot of money, however he still drew people in because before attendees came to the event, he already helps them make 4 to 5x their return. So to the attendee, this is a no brainer.
So, what was the promise he made to attendees? First, he looked for the low hanging fruit that was missing (i.e- low average transaction, wrong funnels, bad marketing)- solved those issues which then made it easy to double business.
Mike creates an intimate setting for the events with no more than 15 people and does not work with startups. The events always begin with tackling mindset. Getting people to make the leap is getting passed skepticism they may hold. Many people have gone to other events that didn’t work and so he shows them the value they would receive at his event before they get there.
How does he do this? Well, once they show interest, they are contacted via email and are provided with some pre education, actions steps and testimonials from previous clients. Then there is a phone conversation where a ‘gap analysis’ is conducted. If he can close one of the ‘spaces’ for them- they’ll make the leap. Sometimes if they don’t make the leap- they may need to hit a deeper level of pain.
Mike is a big believer in outsourcing mundane tasks to a VA. Get someone who will manage all the stuff you shouldn’t be managing when growing a business. For example, setting up phone calls, managing facebook, researching. These are all things that prevent you from making a difference.
In this episode we’ll cover:
- How Mike went from $1 to $23 million in revenue in 10 months
- The 3 things that shifted his business
- Getting people to trust you
- How to create WEALTH not money
- How Mike gets people to attend $3,000 events
- Why you should outsource to a VA
Practical and Actionable:
Write down all your limiting beliefs. identify the skill sets you still need and acquire those skills. Find a mentor or coach who can short track it for you. take massive action every single day. Be totally hungry and and treat your target like oxygen.
Resources and Links
- Mike on Facebook
- Secrets of Business Mastery website
- Connect with Gene
- Ready to take the stage? 5 Steps to Getting the Gig
Connect with Mike on Facebook. And Connect with me too on LinkedIn or Twitter @genehammett.
Do you have questions about today’s episode!?
Did you know that you can apply to chat with me by phone? This is a limited time offer to help anyone that is serious about refining their business as well as developing a clear & compelling strategy that will drive them forward. Complete the questions and our team will follow up with you to schedule time for your “Business Breakthrough Session”. These are limited to 30 minutes, completely free and oh, so valuable. Apply Now!
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