This week’s Misfit Entrepreneur is Yuri Elkaim. Yuri built Healthpreneur to over $200 million from scratch. No following, no pre-existing client base. Totally from scratch. Over the last 6 years, Yuri and his team have helped more than 1,200 health professionals get more clients and scale their coaching businesses online with a very simple business model that eliminates overwhelm and produces 5-7 years of business growth in just 12 months. And the best part is that the process can be applied to most businesses.
If that is not enough, Yuri is a former pro-athlete, had been featured everywhere from Entrepreneur to Forbes and CNBC, and is New York Time best-selling author multiple times over. He’s even been highlighted on Dr. Oz. Needless to say, Yuri has a wealth of entrepreneur experience and lessons that he can teach you and I’m excited for him to do so.
Yuri grew up as a competitive athlete. He was very fit, but he wasn’t healthy. In fact, he lost all his hair to an autoimmune disease at 17 years old. Within about 6 weeks, he lost all the hair on his body. This prompted him to get more immersed into studying health and start to study nutrition. He ended up playing professional soccer for a few years, but as he learned more about nutrition, he put it into practice changed his health – even growing back his hair.
One of the things he realized going through nutrition school was that there so much he just didn’t know. And he knows that if he didn’t know these things, so many others didn’t either, so it lit a fire under him to share the message of clean eating with as many people as possible.
He did find that working one on one with clients was burning him out, so in 2005, he launched his first products online. As he says, he didn’t know what he was doing. No one found his stuff and basically lived at the poverty level for 3 years. In 2010, he hired his first coach, and everything changed. He built his first business and then sold it. Along the way, he had a lot of people come to him and ask what he they were doing to be so successful in his companies and it was realizing that there was a gap that needed filled for people that spawned Healthpreneur.
What was the difference in getting a coach that put you on the trajectory to success?
- We don’t know what we don’t know.
- If you haven’t done what you want to do – how do you expect to get there?
- To be a great goalkeeper in soccer – Yuri had a number of coaches that he worked with every day. He realized he needed to do this in business.
- Getting a business coach helped give him direction and focus and opened his eyes to many things he did not understand about business systems, client acquisition, etc.
- Yuri was somewhat delusional thinking he knew everything to make a business succeed without any experience and a lot of entrepreneurs fall into that trap.
Simple business model that eliminates overwhelm and created a successful business in 12 months – what is the model?
- Yuri has done just about every business model online that you can imagine.
- In creating Healthpreneur, he wanted to simplify and focus on the best model that works most consistently.
- Webinars proved to be the best model.
- Evergreen webinar that you record once, and it runs over and over online as the main education and conversion tool.
- Organic growth is very hard. Yuri and his team focus on paid traffic on Facebook. They teach their clients Facebook ads and how to do them masterfully.
- They then have clients fill out an application for a phone call meeting.
- 4 Steps: Facebook ad to webinar to application to phone meeting.
- The phone call is “coach to close.” It is about assessing fit and making sure you can help the client. If there is a fit, then you discuss next steps and move forward.
- This model is more focused on higher ticket items.
Does this model scale down to lower ticket items?
- Yes, it can. You would just take out the application to phone call. It changes to giving the client the offer after the webinar.
- The model does work best with high ticket coaching or programs.
- With lower ticket items, you have to know your items very well because of the costs to drive traffic.
Is there a formula or structure that works best for getting webinars to convert?
- Think of a webinar as a documentary.
- The purpose of a webinar is the share your point of view or philosophy to introduce a new way of thinking around a topic.
- It is either going to challenge beliefs or confirm suspicions.
- The additional purpose of the webinar is not to give the “how to” but to give clarity to the prospect.
- It must be centered around the perfect client. You have to know them better than they know themselves.
- Everything must be backed up with logic and proof. Think of yourself like a lawyer making a case in court with evidence.
What holds back or constrains businesses the most?
- They don’t understand what their #1 constraint is.
- It is like a kink in a hose. No matter what you do, until that kink is unwound, no water is coming out of the hose.
- So, what is the #1 constraint that opens the floodgates for your business?
- This is an area where a coach can help in a big way.
At the 34-minute mark, Yuri talks about where he sees constraints the most.
Two important, but overlooked decisions that can make or break a business?
- Who are you serving? Who is your target market?
- Delivery of product/business model.
- If you serve a single target market with focus, it is easy to deliver.
- If you serve a bunch of markets, then it becomes a lot harder.
Four unpopular mindsets entrepreneurs need to succeed.
- Delusional optimism. You have to believe you can come back and succeed.
- Balance of setting intentions for things to be easy but expecting them to be hard.
- Greatness has help. You will need to collaborate with others and build a team to succeed.
- Be willing to pay to play.
What is important for entrepreneurs to perform at their best in health?
- The biggest bottleneck for any business is the entrepreneur and their health.
- Your health directly impacts your physical capacity. The energy, stamina, and focus needed to succeed are directly tied to your health.
- If we take care of ourselves, we can take care of others and have a better business.
Best Quote: Greatness has help. You will need to collaborate with others and build a team to succeed.
Yuri's Misfit 3:
- Take 100% responsibility for everything that happens to you and for you in your life.
- Never compromise your health for success.
- Never do anything that will tarnish your reputation. Make decisions with a long-term perspective.
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