Wednesday, July 20, 2011

Mode Capabilities

Extract from Matt's soon to be released new book; Sell Your Thoughts - How to become a million dollar expert...

What we have identified below follows 6 modes of communication and the key capabilities to think about in each. We recommend for people at the white belt level to focus only on those skills they need to get their capabilities functional in each mode. Mastery is a great pursuit but often one achieved at some commercial cost. Speak well enough to share your ideas, coach well enough to serve your ideas but leave mastery for later. In other words, it is best to just start and begin to achieve the easier skills, then when you are up and running, focus on the higher level skills.

Speaker Mode

Speaking is about telling. It often involves speaking to many people in a direct way that delivers a specific message. Speaking is the broadcast channel. The minute a speaker gets platform, they are able to influence significantly more people than the other modes. It’s a leveraged way to gain influence. The nature of the love experience is such that people get caught up in the positive energy of the crowd as they respond to your great ideas. Speakership is the 21st century voice of leadership, it's the key to greater influence, engagement and driving energy through your business.


Authorship is also about telling, however through a different channel. It is the transference of your message to others on their time and in their place. Alongside speaking, writing is one of the most powerful and common means of delivering your ideas. Writing enables you to speak with one voice to many people at great distances regardless of time and if translated, even language barriers. Writing gives you huge leverage in a global market. The word author comes from the root word authority and as an author, it immediately positions you as an authority in a chosen topic. Usually when we think of a writer or author we automatically assume they write books. This has been the traditional model for the past 400 years. However during the past two decades, and especially in the past 5 years, authorship has reached the electronic age. Thought Leaders now publish their ideas not only in books, but also through whitepapers, e-zines, blogs, or other leveraged products. In fact, in many respects these electronic forms of writing are more effective than publishing a book. Electronic publishing can be written and distributed quickly to capture a moment and market interest--and e-books now outsell physical books!


Training is about showing. It often is sharing a process to a group of people that allows them to learn a new skill. Training allows you to show others what they need to do--and how to do it. It is about providing a set of skills and a process to create a behavioural change across a group of people. Training allows others to take these ideas and implement them step-by-step in the pursuit of a better outcome. This is a skill as it requires thought to analyse the unseen steps that occur in a particular way. It also forces you to find new approaches of showing ways to improve skills and capabilities--and often allow others to change their approach. When you develop an effective training approach and the group you are training enthusiastically apply what you have taught them, great things happen. Targets are surpassed, people are unified and results are amplified across a group of people that are aware that they have accomplished something that they may not have been able to before the training.


Mentoring is about sharing your past experience. This often is in a 1:1 setting that allows you to show insights that you learned in similar situations or similar roles. You actually get to participate in the journey of the person you mentor and this helps refine your thinking and clarify your instincts in such a way that you can leverage them again and again. Rather than just getting the benefit with mentoring, you get to capture it. This of course serves the person you mentor but it serves you, the mentor, just as much. Mentors make it their job to understand what they do so well that they can reverse engineer it for other people. They have to go from being great at something to masterful. The mastery comes when you know it inside and out and are able to teach the process to others so that they get benefit.


Facilitating is about asking a group of people questions. Often this is to guide the group in a particular direction by drawing out their viewpoints. Facilitation allows you to draw out of a group of people their ideas, aspirations and thoughts. By asking questions to a group of people, you are able to set the tone of the discussion without telling them what ideas to discuss. This allows you to be viewed as a guide encouraging exploration of issues, concerns or solutions that all come from the group. Another advantage of facilitation is that it allows you to maximise your time by asking common questions to a group of people--rather than individually.


Coaching is about asking an individual key questions. Often it is about allowing them to explore their own viewpoints and reflect on the issues that they currently face. Coaching is the art of asking great questions to an individual in a one on one setting. To be a coach you do not need to be an expert in a particular skill, position, or industry (unlike a mentor). You need to be able to ask powerful questions that inspire a higher level of thinking and understanding in your coachee. Coaching often provides a touchpoint that assists them in focusing in on a particular area--without you having to tell them exactly what it is. Great coaches ask questions that plant a seed in the individual that blossoms and takes their thinking to another level.

For more details, refer to Chapter 6: Choose Your Channel in the Thought Leaders book, here we identified the 6 modes and the 102 skills including the 6 key capabilities and an additional 5 Competency and 5 Mastery Skills.

When to Use Which Mode...

To be successful you will need to select the most appropriate channel for the outcome that you desire. Be careful not to get “stuck” by using just one delivery mode to get your message across. Also never, ever have on your business card your title as the primary mode that you deliver in. Every time we meet someone that has “coach” or “trainer” on their business card we cringe. Unfortunately this has labeled you as only able to deliver in just that one mode. You need to establish your expertise above the mode of delivery--and demonstrate that you have the capability to leverage your ideas in a range of delivery methods.

Remember these skills take time and many masters demonstrate them naturally. Your task is to select the right channel for the right person at the right time! The skills for delivering your Thought Leadership are awesome and developing mastery in the modes is key to sustaining a brilliant black belt practice. In this book we are focusing on the commercialisation of 6 modes and how we can use them to achieve strategic direction.

Not all modes are created equal...

The tell modes (speaker and author) need you to have platforms and a list. A list of people will buy your book if you tell them about it. Equally there is no point having a speech if you cant find a bunch of people in a room who are happy to let you stand on a platform and share your ideas.

You gotta know people.

The show modes (trainer and mentor) need you to have deep knowledge and contacts. If you don’t know people who can help accelerate their career or path of a protege, then it's hard to be a mentor. Equally, if you don’t know a subject inside and out then it's hard to be a trainer of much worth.

You gotta know something.

The ask modes (facilitator and coach) require you to have deep relationship skills and be tuned into what is happening for people in the moment. It's about having a strong awareness of whats happening in you, in them and in the room or conversation.

You gotta be present.

Modes are like the channels you use to deliver and sell your ideas. They also act as strategy filters. Each mode helps you organise your ideal cluster--and leverage your income.


Tuesday, July 12, 2011

Leveraged and Transactional Modes

Extract from Matt's soon to be released new book; Sell Your Thoughts - How to become a million dollar expert...

Each of the six modes of the Million Dollar Expert (speaker, author, facilitator, coach, mentor, trainer) has both transactional and leveraged versions. In your early days as a MDE (Million Dollar Expert) focus on the transactional versions. Getting to blue belt and onto black through some traditional day rate work is key (Take a look at the MDE ladder here for a refresher). Once you have established yourself and built a solid revenue foundation you can then start to explore leveraged versions of each mode.
This may feel a little trying to drive fast with a handbrake on. You may look at the leveraged options listed next and be seduced into exploring them as options for you and your practice.
Leverage is the focus at Red Belt, so the appropriate time to implement the leveraged examples is when you reach Red Belt - when you are making $50k a month or more. Like writing a book (a positioning activity which comes in at Blue Belt) at White Belt can hurt your practice (you’ll write an ordinary book, and won’t have the resources to organise proper promotion and distribution) so too focusing on leverage too soon will result in the wheels coming off your practice. You might experience a few months of wasted effort (if you’re lucky). If you are not lucky, you can seriously under perform on your revenue targets in the early stages of your practice and set yourself back years.

Mode: Speaker

Transactional Example

$5,000 a speech as a corporate speaker on the professional conference circuit.

Transactional Revenue

$5,000 per speech

Leveraged Example

Speaking at networking events with a $5,000 success system in boxes at the back of the room and averaging 20 sales per speech to audiences of 150 people.

Leveraged Revenue

$100,000 per speech

Mode: Author

Transactional Example

$30 book that you sell back of room and through your website

Transactional Revenue

Sell 10,000 at $30 equals $30,000 for the life of the book. Assuming you self publish and don’t factor in cost of production.

Leveraged Example

Build a membership site and sell $990 annual membership

Leveraged Revenue

Assuming 100 people are engaged per year you could make $100,00 per year on the site

Mode: Trainer

Transactional Example

Sell yourself as a trainer for $4000 a day

Transactional Revenue

$4000 per training day

Leveraged Example

License your IP into an organisation by first training internal trainers in your IP then running a per head license agreement every time they run the program

Leveraged Revenue

Upfront investment $5000 per trainer and 6 trained ($30,000 on off) then a $500 per person run through the program and lets say 250 run through the program over its lifecycle. A further $125,000 in practice revenue

Mode: Mentor

Transactional Example

Sell mentoring packages of 10 private sessions at $500 each.

Transactional Revenue

$5,000 per person you mentor per year.

Leveraged Example

Run quarterly group mentoring sessions at say $12,000 per year. Mix some one on one and the 4 major group days.

Leveraged Revenue

Assuming 30 people enroll each year you have a $360,000 cluster to add to your practice revenue.

Mode: Facilitator

Transactional Example

Sell your facilitation at a day rate of $4,000 per day and get 3 days a year through a company

Transactional Revenue

$12,000 per client

Leveraged Example

Run residential retreats with a $2,500 per head costs per weekend and get 55 people to attend

Leveraged Revenue

$137,500 per retreat

Mode: Coach

Transactional Example

Sell coaching packages to individuals in organisations

Transactional Revenue

$10,000 per 8-12 sessions sold.

Leveraged Example

Certify coaches in the use of your methodology

Leveraged Revenue

Upfront investment per coach $10,000 and a further $5000 per year license fee for the commercial use of your ideas. Lets say 12 people a year do this. $180,000 per year.

Next week, I’ll explain the key capabilities for each of the MDE modes.


Tuesday, July 5, 2011

Implement or die!

The missing piece between those who do and those who don't is the relentless pursuit of action. Get busy doing something, anything. The real competition you are up against in any endeavour is always status quo.

Develop a bias for action. Make doing something your default status. Brian Tracy in his Psychology of Achievement series says it well. He suggests that you become blessed with dissatisfaction.

Tony Robbins the success coach, says you should focus on continuous and never-ending improvement.

I think the key is to be detached to the outcomes while focussed on action. It's almost as if you take action deliberately in a focussed manner but with a care-less manner.

People get exhausted by action the moment they make it serious. It's just a game, have fun. Set goals and implement with a playful spirit. The moment you make it a drudge you become a 'busy' person who forgets how to 'Be'.

So go on and have some fun doing something.