Behind The Mic :The GROW Equation Business with Diana Lidstone

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Hello, hello amplify your family Michelle Abraham here house here today I am bringing you and ask the expert interview with my friend Diana lodestone. Hi, Diana, how are you?

I'm great. Michelle, I'm so excited to be here. Thank you. Yes.

Nice to finally have you on. And we've been talking about this for a long time. And finally we got it together. And here we are. So amplify your family. Let me share a little bit more about Diana. And it was created by Diana. She's just like the podcast this year, which is awesome. And we were just literally on a panel talking all about things podcasting with the ground connection. And it's been really great to hear your success of the podcasts that you started this year and has grown. Do we want to dive in and talk about that first. And it's called Grow equation business podcasts are just super cool. So tell us a little bit about your podcasts? And then they'll tell a little bit more about the rest of you.

Yeah, sure. Sure. So, you know, I was kind of, you know, dragged into podcasting by a good friend of mine. And he kept saying for two years that, Diana, you really need a podcast and and I kept resisting, like we do often because you know, it's not it's new, right? We resist change. And I was in the back of my head or in the front, or my little itty bitty shitty committee was saying to me, oh, Diane, I don't know how I'm going to do all of this work. Like, how was the question I was asking? And really, in truly when I turned that question around and said, Who is going to do this? Because it's not just all me. Then things fell into place. And so for me, you know, my podcast is part of my overall marketing strategy. And yeah, so the overall marketing, and it speaks to a very specific client, like we hope everyone's podcast does, right?

Absolutely. Absolutely. Well, that's cool. And what's been your favorite part about your podcast so far?

Oh, I think it's really it's talking, you know, it's talking to all these great people. Most entrepreneurs have been sort of hidden at their desk, and this past two, two and a half years, with COVID. I mean, for me, pre COVID, I used to host live events for entrepreneurs, women entrepreneurs, you know, 100 people in a hotel conference room, and, you know, all this time of getting butts in seats and marketing and and creating the content and everything. And obviously, during COVID, that didn't happen. And I kind of looked at my podcast as a way of staying in my communities ear, shall we say? Without the being there live in the hotel. So you know, new stuff coming out every week? And they could just Oh, yeah, I got Diana in my head.

That's awesome. I think a lot of businesses reach for that during the pandemic. I'm like, oh, podcast is a way we can still communicate without having to be in person anymore. And it's been interesting to see that just like influx of new podcasts over the last few years, and it'll be great. It'll be interesting to see if those podcasts can sustain. sustain that when they went back to like working full time to being in person again, too. Yeah. Well, so that's so great. Well, I know your podcasts will continue on because you're so dedicated to it and it's doing really great things. Congratulations on launching your show. It is quite the feat to get going and I don't even know if our listeners I haven't said this recently, but the newest statistic is 75% of shows don't actually make it past episode 20 anymore.

I heard that from you. And I went, Oh my God.

All right, so you're well past episodes. I am, which is awesome. And so for the last four decades, you've been working globally with coaches and consultants and other service professionals, and you've gathered so much wisdom and advice that's helped hundreds of 1000s of entrepreneurs and profound shuttles accelerate their growth and explode profits. So you have the tagline and the you're working bodies that work last earn more philosophy, which is super cool. And you've got a couple of books that you've written and some things that you've created. So you've created the Grow meter and the growth rate equation calculator, which I want to talk about in a few minutes here. And you're the best selling author of author has shifted to rich navigate the nine roadblocks of to small business success, and then your grow equation, which is taking crazy frazzled overworked business professionals and business owners into profitable, overjoyed CEOs, which is awesome. So that's some incredible things that you are doing. I would love to know, what is his growth hacking all about? How did you come across the grow? the grow method, the Grow meter, your growth equation? What are all these growth things? I love it. Absolutely. I'm a big fan of the workplace

earn more. Yeah, the work less earn more. That's the hashtag. And like a lot of things, I think in business, it kind of evolves and we stumble into it. And you know, my grow meter, I devised or developed back in, I want to say, 2014 2015, when I wrote my book, and it's basically a visual, if your listeners can imagine a thermometer, and on this thermometer, like the heat goes up and rises in a thermometer, there are four stages of business growth. And what I learned very early in my journey, that entrepreneurs were often doing activities that weren't appropriate for their stage of business growth. And so a really quick story was I remember meeting at a networking, this lady who had written this book, and she had spent, and this is years ago, she had spent 10s of 1000s of dollars. And all this time, and she's going out to all these book signings, and she's confessed, Diana, I don't even have an email list. I have no one to sell the book to. And so it was a perfect example of somebody doing the wrong activity at the wrong stage of their business.

Podcasting, too, right? Yeah, yeah.

And so I now work mostly with what I would call those who are wanting to scale their business. And their biggest thing is, what they want to do is they want to go back down the Grow meter, and they want to get involved in all these daily tasks, instead of letting go instead of setting boundaries instead of delegating. And so that's where the overworked frazzled entrepreneur comes in.

It's a few of those around.

One or two, one or two. And, yeah, it was funny how I was looking for what how can I describe them in the word frazzled? And every time I said that, people would go, Oh, yeah, I get that. I know who that is. That's me. So that was my grow meter. And then, you know, I've always worked with a coach for different reasons. I had a coaching call with someone who really didn't know me that well, and I was trying to, you know, really focus in on where I was going, she says, Diana, you've got this grow meter? Why don't you just continue to use the word grow? And I went, like, Duh, I guess the kids say, and then I started thinking more about my signature framework and how I actually worked with people. And I think also, some of your listeners can probably appreciate this. As experts, we have all this stuff in our heads, right? We know how we work with people, and it's in their hands. But if we had to write it down, oh, my God, it's like pulling teeth. But I've developed and now I work with my clients to develop how they can take a word created, turn it into an acronym for how they get the results. And that becomes their signature thing. It's also a way for them to differentiate themselves. Right, right. Yeah. How many business coaches are there out there one or two, but nobody has the growth equation? Right. So that brings me to what the heck does a grow equation mean? So if we think of the grow as an acronym, so the G stands for get known, get known as the undeniable authority in their field. And for this, a lot of the entrepreneurs that come to me they go, I need more visibility. So we create a custom visibility roadmap, okay, because everybody's different. A lot of my clients don't use social media at all, and certainly most, I would say 99.9% of them don't use paid advertising. So that even the

ones that do use social media would probably prefer not to Anyway, well, you

know, they've, they've come to realize, so I could tell you an example of a lawyer who I've worked with. And she has turned her business like around totally her website. And if I could use the word that the kids would use sucks big time. And she has no social media presence, she's gone from, you know, minus five figures, to a profit of half a million. You don't always need social media, right? Or you don't always need to focus on making your website pretty, right. So that's the G of the grow, the R is all about ramping up your profits. And ignoring those metrics that are, I wouldn't say metrics, but it's not about revenue. It's not about six figures in revenue or seven figures in revenue. It's how much money you get to keep and that's profit. So I work with clients to create a profit plan where they, you know, figure out where are the inefficiencies, and where might they be leaving money on the table? We all know, if we had somebody look at our businesses, they would see things very differently than we do. Right, right. Yeah. So we've got the G plus the R, then we get to the O. So the O stands for optimizing resources. So what resources so your team, building a rockstar team, creating those systems and structures and processes. But one of the biggest resources that as entrepreneurs we forget about is us, us, you, you are a significant resource of your business. So those are the three components. And then I work with them to create what I call a freedom map. So how are you going to stop being the bottleneck in your business? And it creates more freedom? Because I'm sure you've talked to lots and lots of people who wanted to start their business for this freedom lifestyle, shall we say? That when they sit down and look at it, they have totally the opposite. They've created a job for themselves. Right?

Right. They've created a lovely job. And he probably even still work within them Monday to Friday, nine to five, right? Which is funny, like, why did why do I do that? Do? Yeah.

So you take the G plus the r plus the O equals W, which it could stand for work less, earn more, but it also by the time, people have finished working with me, although they rarely finish working with me, we keep working together. They are building this well oiled business machine, right. And so it's that machine that just keeps, keeps on ticking. Mm hmm. So that is the Grow equation.

That's great. I love it. So now you use this in your business. And in your podcast? What's your suggestion for people like after all, we were also just on the pedal for podcasting. So I want to bring up some of the things that we were just discussing over there, too. Now, you were suggesting doing a one, the one formula, so one thing that one place where people find you, is your grow? Formula, your one thing that you're sending people to?

Um, well, when I think of one thing, so I actually talk to my clients about how they can simplify their business. And I call it the magic rule of one. And the magic rule of one has five parts to it. You need to really know who is your one ideal client. And so very often I help have to help my clients really niche down I mean, not even just niche down, but micro niche. What are they really specializing in? So that's the first part. The second part is what is the one problem they're solving? And you and I both know that we could solve a lot of problems for our clients, right? But what is that one thing? The third part is what is the one solution where you're one offer your one funnel that you were going to create? And number four is, what is the one method that you're going to use to get your voice out there. So some people use speaking some people use Facebook group, some people use audio, you know, what is it that you're going to be? What is the one thing that you're going to be. And the fifth one is one social media platform, you don't need to be all over the frickin place. And so, in the Grow equation for me, my podcast has, how can I say it hasn't replaced live events, but it is the, the thing that I want people to know about and to go to. And I, you know, I've made a lot of mistakes starting out on my podcast. And as Season Two comes along, I'm going to be directing them to, I think, a free or almost free workshop that I will do. So they actually get that live interaction with me. Yes. And so that is going to be my one thing that I will probably launch every, maybe it's twice a year, maybe it's every quarter, and it will give them that experience of, you know, being with me live. So, you know, I've thought about it, I know what the content is going to be, because I'm going to reverse engineer, of course, the content from my main offer to what this thing is going to be.

So yeah. Nice. That's great. I love it. So I'm gonna go back to where you said he made a few mistakes in your first season. How do you deal with it? I was gonna ask you that. So what would you say would be your top three things that you wish you had known back then that you've learned over the first year of podcasting?

Number one is listen to podcasts first, I didn't. I just started into it. So you know, listen to those people who are doing podcasting really well. And there's so many of them out there that, you know, pick one. So that would be number two would be make sure that your content is really aligned with your ideal client. Now, I knew who my ideal client was. But I think that's a mistake that I see too often they're talking in, in general. A mistake that I personally made was, I think that some of them got too long, too chatty, not enough, you know, direct content, like, listen, here it is, and let's get off it.

Here's your action. Yeah. Because I think, you

know, people are more and more time challenged. And so when I fit my ideal client is extremely time challenged. Yeah. Do they want to listen to 40 minutes? No, no.

I know, one of the things that I started doing was like shortening it just like you're saying to you, but also like, instead of going like so how did you get started with what you're doing? Like question I can like take you 15 minutes to answer. We got like, right into like a question. Like, that was one of the things that I picked up on too. It's like,

yeah, get to the meat. They can read all about this person in the show notes, right.

Yeah, exactly. Yeah. Yeah, get right to the meat. I think it's good. And I heard you say this morning on our panel. Another thing was that a little bit more about you, getting to know getting allowing your audience to get to know you first, before starting to interview other people. And I know that was something that I made that mistake two and when writing now we're so excited to interview people is so fun interview that you forget to like be like, what did that like we forget to like, let the audience get to know us too. So you did do you did to a great job, I think at the beginning of having some of those concrete foundation episodes was really explaining the Grow farm, your grow equation and things like that. That's awesome. But I think

you gave some good tips this morning also about you know, four episodes. And I'm going to look at that when I you know, launch episode or Season Two. Okay, what can I do short and quick, you know, for quick episodes, for new listeners that have come on board since, you know, maybe my business is, you know, morphed a little bit maybe it's, you know, changed. And so I think that's, you know, really, really important to do.

Yeah, something I'm also doing as well as I start realigning and for our listeners that are listening you saying Oh, you're doing season two that is awesome. And I want to you know, congratulate you on like doing this season two because I think that's a really great opportunity for you to like recalibrate reconnection re, you know, re established like, you know, positioning of the show, going into season two. So, do you have anything new or different that you're doing in season two from your show? I Add from the first season.

Yeah, I think I'm also going to look at, you know, the intro to my show because I have somebody who's done a voiceover the outro, I'm going to look at that, how do we need to shorten it? Can I start with some attention grabbers and then have the intro? So I think, you know, I'm gonna look at the whole structure of the podcast.

Absolutely, yeah, I think that's a great, great, it's a really cool time to be able to, like, take a look and see what's working, what's different, what you thought, at the beginning of that I know oftentimes, like I a few shows that I started, like, I thought there was gonna be we're gonna be talking about like this, but we started talking about more of this during this show. So trying to go back and like, it's so hard when you're doing your intro and outro. First, before you get into everything else, to then be like, Oh, doesn't really match still? Not really. So that's awesome. Those are great tips. And I think that will really help our audience to think of ways that they can improve on their show from one season to another and using a season switch to kind of recalibrate things now, and I want to jump back into your into your growth equation, because you're all about work last earn more. And I think that is absolutely amazing. What is one of the things that you see, for those entrepreneurs, printers that have really helped really created themselves a lovely job, rather than that earn more, or the work less and more situation than they intended to? What are some things that can help them kind of backpedal out of that and regain control of their situation? Again, this seems like a little overwhelming at that stage. I've been there.

Yeah, I think, you know, one of the things is we tend as entrepreneurs, we're very creative. That's a good thing. That's a bad. So one of the things I see is, and you mentioned this also overcomplicating our business, and you know, overcomplicating our business by let's pick one thing, which is offers the right offers, can I get an and, you know, I teach my clients focus on one offer, it might have an upsell, and it might have a down sell, but one offer, and then you start building your reputation around that one offer. And people go oh, yeah, if you want, for instance, my real estate or my lawyer client, she was a sort of a generalist. She specialized now in working almost solely with real estate investors, not just real estate, but real estate investors. And now when she's looking for staff, people are going, Oh, I'd like to work with her because they know what she stands for. So I think, yeah,

that makes that makes a lot of sense. And it's interesting, I remember, I was in a situation with my digital marketing business, and we're doing like all things for everyone funnels and publishing books. And like, whatever people asked us to share, we can do that, too. Yeah. And I remember one of my friends said to me, she's like, you're one of my best friends, but I have no clue what you do. And I was like, Oh, I was like, It's my that one of my best friends has no clue what I do for work. There's I was like, oh, gosh, that's when we dropped everything just to focus on podcasting. And that's really been helpful. But even like, you know, I think there's so much work when seemingly, even though even when you to get more comfort and more defined with what you're doing within one space, there's always opportunity to simplify even further. So do you take your clients like through? Okay, step one, let's figure out that one thing you want to be known for step two, let's, you know, now you have 10 offers within that one thing, let's put them all into one.

Yeah, so it's all about simplifying. So going from complicated to simplifying. And I think the other thing that I see, you know, big mistakes that entrepreneurs make is that they're very scattered. And this comes from the, you know, the, the creative side, so they start stuff, they don't fit and whatever, and they, you know, they're not always focused on the right activities for their stage of their business. Right. Yeah. You know, like I talked about in the Grow meter. And so, keeping them focused on where they need to go, what is that path is one of the biggest things so, you know, going from being scattered to being focused. And the other thing, of course, you know, I see a lot of is people who are experts in their field. They're amazing at what they do. But they're the best kept secrets in sliced bread. Right? So they've got to get out there and they've got to be seen,

right, though. Yeah, that's amazing. Yeah, I was thinking so You're saying that, Oh my gosh, how many entrepreneurs out there have gone out there, set up a business are so excited to have a business have doing all these things and get so creative and just like get so frustrated with themselves because they've created this like, monstrous thing that's no longer fun. It's complicated. It's overcomplicated. Not what they intended to do. And like, oh, gosh, this is when you send the like, SOS sign. Yeah, yeah. And I and

I'll often say to my clients, you know, is that fun for you? Or is that bring you joy? Right? And they'll go, Well, no. Well, then why the heck are you doing it? It's your business.

Yeah. And my coaches will say to me, like, who's driving the boat? Like, Oh, yeah. Okay. I guess I did have a decision. That was I did have. Yeah, it was me that will rescheduled myself like that.

Yeah. Like I, you know, I'm sure. You know, you probably, you know, have your calendar built in a certain way. You know, my calendar is built, I don't take calls before 10 o'clock. I don't take calls after three. I don't take Tuesdays and Thursdays I work with clients. And Wednesdays is my midday Friday. I don't work. So there's only a little window when I let people call me and interrupt me. So yeah, we have the choice. We have that choice.

Absolutely. Well, Diane, and this has been awesome to hear all about the work that you're up to. And your awesome podcasts, where can our listeners reach out to you obviously through learn going to listen to your podcast? And where else can they reach out to you to learn more about working with you?

Sure. So my website is www Dianna ledgestone.com. My podcast is listed there my blog. And that's where you find me you also find me on social media on Facebook, I use my personal page to talk about personal and business. And so that's where you'll find me.

Awesome. All right, well amplify your family. Make sure you reach out to Diana, go and listen to her podcast. Give her a review. Tell her how much she loved your show. It is the Grow equation business podcast and we will have to have you back again. Diane, this has been fantastic.

Thank you so much, Michelle, always great to talk with you.

All right, amplify your family go out there. Have a fabulous week. We'll see you again next week.