Living The Red Life - The Millionaire Real Estate Coach & Investor Greg Luther

Episode Date: June 6, 2023

Do you want to coach people that get $15K when you make an impact for them, or do you want to coach plumbers that earn $200 when they get a new client? That's the question entrepreneur Greg Luther asked himself when he became a sales and marketing coach for real estate agents.Greg is now pulling in million-dollar months with a super high net profit margin through his 100% virtual company coaching real estate agents. Our Man in Red Rudy Mawer is pinning Greg down on the secrets of his premier avatar, and the balance between sales, marketing, and having the right product (or coaching service). It's an ever-expanding triangle as Rudy points out. But that's how you get richer, and how feeling busy still feels fun when your vision is aligned with your day-to-day hustle. Greg's insights into his virtual operation are super valuable, as is Rudy's business acumen in elucidating exactly what Greg is getting right to bring in the big money months – so the rest of us can hopefully follow suit. This is Wonderland, come on in!"I want to enjoy my life, whatever I'm making." ~ Greg Luther The first 1000 to click here and send the promo code from the podcast can claim one of my courses for FREE!  - https://m.me/rudymawerlife In This Episode:Making a million a month, all remotely Getting busier, but keeping things aligned with your visionChoosing the right product and overcoming brand obscurityStaying congruent with your messaging to your audienceHow does the money show up?What's the first step toward building a re-occurring business model? How to market a webinarThe value of good sales copyHow do you make your customers stay?Connect with Greg Luther:Website - Greg Luther CoachingInstagram - https://www.instagram.com/gregluthercoaching/?hl=enConnect with Rudy Mawer:LinkedIn - www.linkedin.com/in/rudymawer/Instagram - www.instagram.com/rudymawerlifeFacebook - www.facebook.com/rudymawerlifeTwitter - www.twitter.com/rudymawer

How does the money show up? So like, are you selling a $20 thing, a $50 thing, a $10,000 thing? Talk them through what you're selling. Yeah. So, you know, the one key factor for me is continuity, you know, get a coaching program or something where they pay you every month. But essentially I start at $377 a month. It's $377 to join.

That becomes a member of my inner circle. Then when that starts working for them, anything else I offer, I'm going to make a lot of money. So we'll do what we call events. Say I'm doing an online webinar in January. We do that event and we bring in 300, $400,000. My name is Rudy Moore, host of living the red life podcast. And I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland and change your life. Guys, what's up? Welcome back. Excited for this episode. This episode, you're going to dive in into a super, super high profit margin, high net margin business, one of the highest net profit margin businesses I've ever

seen. Me and Greg connected a couple of years ago and what's always impressed me and I like to joke, he does the opposite of what I do. So, I spend a lot of money, hire a lot of people, cause myself a lot of stress, right, as part of my vision and mission. And you've got the opposite, high net margins, low staff, no office, and probably much less stress than me. I don't know. Yeah, yeah, absolutely. So, tell them what you do. Give them a two-minute intro. Yeah, yeah.. So I'm a sales and marketing coach for real estate agents. I was originally an agent myself, did very well and figured out the marketing side, then started coaching others on how to do that. So we are a 100% virtual company. We coach thousands of real

estate agents around the country. I've got staff in multiple states. We literally don't have a physical location and it's been very profitable and definitely very fun. And the part that really, I mean, kind of stands out for me is you're close to a million a month and you have 80% profit margins, free staff, no office. And most of that, that 20% spend is a couple of staff and ad spend, right? It's a very simple business, which is most people, simple is what they want. I make it hard for myself. Well, yeah, I think, you know, for me,

the first thing when I started building my business, I wanted to make good money. And of course, whatever you're making now, anything more than that seems good. Yeah, of course. I want a hundred grand a month. I want a half a million a month. But the big thing for me was always to stick true to,

I want my autonomy. I want to have, live a month. But the big thing for me was always to stick true to I want my autonomy. I want to have lived my life under my terms, not have the big staff or what I consider crybabies all the time. You know, I want to enjoy my life, whatever I'm making. So, yeah, now we're right about a million dollars a month. I've got basically three people that work for me and they all work from home just as I do. So my commute to the office is in a robe. I only have to get dressed from here up. It's been very profitable for us. But I think the big thing is keeping in mind that

autonomy. I'll build it as big as I can as long as I don't have to hire a bunch of people or have a physical location. And that's, you want something that fulfills you and you feel good about and you enjoy, right? And I think that's the key because I am more fulfilled than I've ever been and more enjoyment in my life today than ever in my life. But it's also the most busiest, craziest, highest risk. But it aligns to my vision, right? Yeah, yeah. Everybody's got to. And it may be a blend of both.

You know, everybody has a different idea of success. So, a lot of people listening, they're marketers, they're online business owners, or they're starting up entrepreneurs that want to build an online business. And look, get into a million a month with those profit margins. We've both been in the game a long time. It's not going to happen overnight. But give them the simple business model in two minutes from a third grade level. How'd you get there? What are you doing? Well, the first thing was to make sure I had a good product, make sure my stuff actually worked. And for most small businesses, what they're fighting is obscurity. It's not that there's other people that do what you do, or there's other competitors. You're fighting with obscurity, just not enough people know who you

are. So when you can build a brand, when you can get some media, when you can get that marketing to work for you, you know, as soon as I figured out how to utilize Facebook as an example, every time I spend five grand, I get five grand. It's game on because I can build, I'm building the business for free. That's what I say, yeah. Yeah, yeah. So I'm getting paid to get customers.

So it'd be crazy to turn down my ad space, you know? So I think the big thing is just, first of all, having a good product, but then understanding how that media works and different angles that you can use to get their attention. And I think one thing that's also super important is you'd probably not be as successful or it'd be a little harder if you just taught marketing for everyone. But you found a niche and became an expert, an authority and a leader in the real estate space. Yeah. Right. So like you found that pocket and then built that

authority in that tribe. And now everything's congruent to that audience. Right. Because you're not teaching e-commerce owners, realtors, online business owners, email marketers, salon spa owners. It's all congruent to one vehicle to start. Right. And my my original theory for getting a real estate license is that's how I get paid the highest amount of money when I succeed. If I sell a house, I get 15 grand. So when I started coaching people, do you want to coach people that when you create a impact for them, they get 15 grand? Or do you want to coach plumbers where if they get a client, they make $200? right like that's a big part i mean most people miss is like louis vuitton and gucci do that well right because they've got the the high premier avatar versus the walmart model where the average person is spending money and they're coming back and spending more and more and more and more right because they've got the affluent audience and um i think what would be cool for people to understand is how does it how does the money show up? So like, are you selling a $20 thing, a $50 thing, a $10,000 thing, talk them through what you're selling. Yeah. So I,

you know, the one key factor for me is continuity, you know, get a coaching program or something where they pay you every month. But, uh, essentially I start at three 77 a month. It's $377 to join that becomes a member of my inner circle. Then when that starts working for them, anything else I offer, I'm going to make a lot of money. So we'll do what we call events. Say I'm doing an online webinar in January. We do that event and we bring in $300,000, $400,000 from our paid members that know us, like us, and trust us. We literally have a list at our office of people that say, whatever Gregreg sells just give me the first one here's the credit card just tell me what i bought yeah and those are the lifers that you're looking

for where they just buy anything so it's about four hundred dollars a month yep right and just to do the math 10 people on that's four grand a month for karen right 100 people on that's 40 grand a month yeah and a thousand people on that is 400 grand a month recurring revenue that comes every single month like netflix right that's your base and you told me you got up to about 2 000 people in the last couple of years was that true is that yeah we've been up and down you know i had some staff changing and we changed our funnels and stuff it's building again we actually went up 20 in the last two weeks wow so we're starting to build that side again we got a little too product centric and not membership centric so So we're getting back to our roots there.

It's always a balance, right? It's marketing, sales, and then fulfillment is like this triangle. And I always joke with my team, it's like, it's a triangle. And then it's like, okay, I need more sales reps. And like, okay, now I need more coaches. Okay, now I need to spend more on ads. And I'm like ping-ponging around this like triangle of the free yeah and i i started to get to where i almost started chasing the money i could do a webinar and make 600 grand yeah but then i've got to do a lot of extra work and hire help let's back off of that let me get it the other way so you know that autonomy we had to get back to that and make those changes yeah so so look guys if you're out there, you see the recurring revenue here and that profit center you've built. We make about $300,000 a month, my business, on recurring.

And it's one of the best things we've got because it's your buffer, right? I mean, you just walked around the office and you asked me, we're close to 100 employees. And that's still scary, but it's less scary when I've got 300K a month almost guaranteed, right? So nearly every business needs that, I feel, these days, especially if you want to grow a big profitable business like me and go crazy big. Or like you, you want the lifestyle high net margin business because for you, you could go away for three months. And if you have a couple of good staff running the show,

you've basically the business just continues on. Exactly. Right. Whoa, whoa, whoa. Wait a second. Before we go into the rest of this episode, I'm going to interrupt abruptly and just ask you one big favor. I hope you're getting a ton of value, a ton of knowledge. I hope you're getting some breakthroughs from myself and the guests. And I want one thing in return. What I would love is for you to subscribe and leave a review. The reviews and the subscription grows the podcast. It allows me to bring you even better guests. It allows me to invest even more time and money into this podcast to bring you the latest and greatest, the best entrepreneurs from around the world that are crushing life, crushing their business and giving

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in. So what's the first step for someone watching this that wants to build that reoccurring business model? I think the big thing is, you know, make sure you've got a good offer to begin with. And then how can you start to promote that to the public? It all comes down to building your list, you know, get people that would have an interest in whatever it is you're offering. Uh, and my model has literally been put out tons of free content. They fall in love with you and they want to eventually go to your funnel and webinars though. Right. So let's do it. That's one of your superpowers or secrets that you use to fill it. Come break that down for people that don't know what that is. Yeah. So, uh, for filling a webinar, filling a webinar, we've built a big email list.

So we'll hit them with emails, literally one a day for seven days. I do lots of Facebook Lives. We're doing a little bit on YouTube. So we're doing a lot of promotion to try and get them registered for that event. I don't care how good you are, you're not gonna get more than 50% of them to show up

on a freebie. So we get about 40% show up. Yeah, we get about 30, 340, yeah. Yeah, yeah. So that's about where we are up. Yeah, we get about 30, 340. Yeah. Yeah. So that's about where we are, 30 to 40. And we do well with that. We do very high conversions because I sell hard. And you're pitching the $400 at the end. Those are when we're pitching a thousand to 2000. And if you don't know what that is, so it's a, hey, this Tuesday, I'm going live at 5pm, right? Kind of thing. And I'm going to teach you the

five secrets of every real estate professional needs to make money on to make more money, right? Something like that, right? So you invite your list, you do your presentation, you teach them some core pillars, some beliefs, you show them some results, and then you transition into the pitch, right? And for us, we don't do many because I'm more of like I just sell low ticket all day and that's my system but every time we do them we generally will make 50 hundred K so yeah well you know this year we said we'd get back to one or two a month because they're super profitable and there if you're good on camera and video there are super easy way to sell as well yeah and that's I

mean you're always you're speaking or writing sales copy at all times that's the number one skill to learn is sales copy. You know, if we started any video that I do or this interview with, hi, my name's Greg Luther and I'm with ABC, everybody's going to leave. But if I start with, hey, do you want to see how this guy's making a million dollars a month? I'm going to show you in this video, that type of sales copy with a grabber at the beginning is how you get attention. Yeah. Yeah. I love it. So you're doing webinars, you're doing a lot of free content and filtering them into the 400 a month.

Next big question is how do you make sure they stay? Because that's all great. Sell in a $400 a month for a $20 a month for a $1,000 a month. How do you make sure they stay and then actually increase lifetime value? Yeah, so I can actually shave about 10 years off of

your experience by telling you this, the more you communicate with your prospects, the more they're going to leave, the more content you give them, the more they're going to leave, because I'm always thinking, let me do more, let me do more. And I've noticed every time I send an email, one person replies, oh yeah, I need to cancel your stuff. You know, I learned from Brendan Burchard, like I've been in his programs and he's never sent an email once because it's going to allow people to reply. Your instinct is the opposite. Yeah. You want to give more. And that's why we've got these episodes bringing in experts like you, because the natural instinct

is that anyone now they would go and, hey, like I'm going to email them every week. Every time I do new content, I add them and email them. And you've learned for 10 years, like, Hey, the way is, so you're adding content occasionally, but not blasting them about it and just letting them find it. Yeah. So we do a group call every other Thursday and I started thinking, well, Hey, maybe we can fix retention if we start giving them more stuff. But if you imagine we're sitting at dinner right now and it's a buffet, but they bring this stuff to you, we're eating like crazy. We're on our third plate. They bring another plate, another plate. You're like, stop. I can't eat what I got here. That's what's happening with content. So the more you give them, the more what happens is in their mind. They say, I feel overwhelmed and I'm just not using it. I

know your stuff's great, but I'm wasting my money because I'm not using it to the capacity I should. So it can almost hurt you, right? And that's our natural instinct as experts. And if we care, which most of us do, and we like creating content, we're passionate, is more, more, more, right? And our natural instinct is more, more, more means you'll stay. And you see Netflix do it, right? Netflix, it's a different model because it's $9. But Netflix is producing shows every single day and week, right?

And it's like, you can't always take that model at $9 and apply it here. So that's an awesome lesson. So what would you say to anyone just to finish today? Like they want to start an online business or they've got an online business, but they're not doing millions or a million a month like we are. Like if you could go back 10, 15 years, what would you say? The number one thing for me was actually coaching and masterminds getting involved with someone that's smarter than you you know I was able to get involved with some folks and take payment plans and do

whatever I had to do to to eliminate that learning curve I mean what we've just talked about here saves you years and in thousands of lost members learning from other people getting involved with groups going to big meetings where marketing specialists are there I really think that's the big key to becoming successful. I love that. And I guess final question I often ask is, you know, you've been to my events and done stuff with me. What's one thing you've taken away from what we do that people should apply that's been valuable to you? I think the one thing I was always slipping on was the branding. You're obviously very

good at branding. What's your green or purple? We rotate, we rotate, we rotate. But that was big. And you know, a big thing for me is I don't wanna meet with a bunch of people that coach realtors because we all have our own way. If you learn from other industries, you can say, how can I take what he's doing

and apply that to my own business? So getting involved with people like that and just getting other ideas from a huge staff that's doing well, you can definitely improve your business. Love it. And where do they find you if they want to model, you know, look at how you're doing it, they want to learn what you're doing, follow you for content, where can people find you? Yeah, the best thing, I'm on Facebook at Greg Luther Coaching, or our website is gregluthercoaching.com. Good. Appreciate it. Thanks for coming on.

Thank you, sir. Until next time, guys, take care.