This Mindset Shift Could Make You Millions #250

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If you’re new to my page my name’s Corey Boutwell. I’m the founder and CEO of men’s personal development company Set The Standard. I’m a professional bodybuilder, I have coached over 300 men to their full potential and created a multi six figure business in just 3 years. This podcast is where I share EVERYTHING I learn along the way.

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Chapters

• 0:00 Money Mindset
• 5:47 Strategic Thinking for Business Growth

Transcript

Speaker 1: 0:00

all right, guys, I'm getting straight into this one. It's going to be absolutely insane. I was at a recent call in my community where we're teaching online business. So we have a course called the business process and we're getting some amazing results. Like the people in there are literally they're triple to double to triple, like the calls that they're booking every single week and they're doubling the sales and they're running their first webinars. They're getting super passionate, super excited, just like crushing it in all forms of online business. But the best thing that we teach is, like the mindset stuff. So the mindset stuff as well as the online business combined, there's like a recipe for you're gonna win, right, you're just gonna absolutely win.

Speaker 1: 0:38

So they requested the guys requested that I create this podcast. I'm recording for you guys, for them, right? They're like can you please create this for us because I want to dive deeper on this topic? So here we are and it's all about money mindset. So we had a course and a program called money mindset and this is a tool that the guys were like oh my god, this is fantastic. I really want to know this. On a on a deeper setting, and it's original. Like I created this.

Speaker 1: 1:01

I was actually tripping on mushrooms. When I created this up, I was talking to my partner and we were talking about money in regards to growth and I was on mushrooms. Then this sort of download happened and I was like stepping side to side and forward and I was like, oh my gosh, there's two different types of thinking when it comes to business growth and where we should put our time, energy and attention, and most people get caught up in horizontal thinking when we should be focusing on vertical thinking. Right now, you guys don't know what they are and I'm going to teach you exactly what that is. Um, yeah, I've taught money mindset as well, like like workshops around australia, and it's one of my favorite topics to talk about. I've helped like countless people break through their fears and limiting beliefs with genuine support, which has been amazing to watch.

Speaker 1: 1:40

Like having people look at their phone like in person. Like I can't do this thing and I can't make the sale. This person's never going to give me money and I'm like say this, try this, do this next minute. They've made some money and they're like what? This is insane. So I'm gonna really encapsulate the theory of vertical and horizontal thinking in this call.

Speaker 1: 1:56

So it's an original concept that essentially will eliminate distraction and shiny object syndrome. So if you notice that you're like I'm not sure what to do next in my business, I'm feeling stagnated, you're not really clear on, you know the purpose of the business, or you notice that you're not getting the results that you want and you feel busy productive, this is the tool that's going to help you remove feeling busy and you know, you know making yourself feel busy to be productive when you're not really being productive right, that's what I call busy productive if that we're not genuinely productive. So I use it, my team uses it, we talk about it all the time and it's helped us greatly so far. Like, especially me and george, like we're always talking about this. We're like is this a horizontal decision or is this a vertical decision? Because we need at the moment in our business, we want to be making vertical decisions, right? So horizontal thinking is any ideas or decisions that create a new stream of income or take up more time, and it's up for your discretion to decide if it's horizontal thinking.

Speaker 1: 2:49

So examples of horizontal thinking is launching a new product or a sub product, or creating a new brand. It's starting a new podcast, targeting, you know, a different target audience. It's creating a brand or a new course or program in a different niche. It's like, okay, what's the we're creating? Like it could be the same course but completely different niche, or whatever it is. There's a horizontal I'm doing something else, doing something new. It's hiring a coach to teach you about something irrelevant. It is opening up a physical store to compliment your online brand so you might have an online brand. You're like open up a store store. This might be vertical thinking, but it's not. If you don't hit your goals of, okay, I've maxed out vertical thinking at the moment, so now I can go horizontal, that's essentially the permission that you give yourself when you can go horizontal. I've made so many stakes, so many, so many mistakes, so many times of wanting to go vertical and you know, crush something can end up going horizontal and then it's just like, oh, that was a waste money and time. It's developing a mobile app for a new user base. It can be creating a brand new website when you don't need the website, right, it's like you might be running all your stuff off Instagram ads or something like that. Launching a new YouTube channel focused on a different niche or launching a YouTube channel in general, when you don't need to be launching one. It's developing a spinoff product or offering one-to-one coaching or something like that are examples of horizontal thinking.

Speaker 1: 4:12

Vertical thinking is any idea or decision that increases the capacity to generate more revenue and income and time to grow one stream of revenue. So it's how can I grow this one stream of revenue? So it's getting a VA to handle your emails and getting any sort of VA or admin person to offload your tasks so that you can continue to focus on the one thing. Let's say, if your job was creating videos, just say, for example, you create videos and you have a education platform and you know it could be fitness right, so say, fitness education platform and you're teaching people health and fitness and your revenue comes of making lots of videos. So everything else in your day should be around.

Speaker 1: 4:52

How can I create more time for myself so I can just create videos until I hit my financial goal? Let's say it's like fifty thousand dollars a month. When I hit fifty thousand dollars a month, it's like cool, now how can I start changing things? Because this is automated and you might get recurring revenue. You might not need to make videos anymore, so that now you've got fifty thousand dollars a month coming in recurring. I don't need to make videos anymore because we've made them. These ones are working. I need to create less, more than as many videos as I can. It says like one a week to upkeep. And now what I want to do next, right, um, to grow this up. Is it just this one thing or do something new? Am I, have I reached my financial capacity or do I do something new? So this is the questions for vertical. It's automating invoicing to save hours. It's deepening connections with your top clients. It's bringing on project managers to handle big projects. It's raising your prices for your best selling service. It's upselling your existing clients on an advanced options, so running them through the funnel and the and the glow up and the grow up.

Speaker 1: 5:47

So think of horizontal and vertical thinking. Like a tree, right? Vertical thinking is imagine a single tree growing upwards and producing apples the as the tree grows taller, the apples get bigger and juicier. The higher the tree, the more branches it has, leading to more fruit. All your resources, light, water and nurturing are focused on the one tree, making it strong and fruitful. Horizontal thinking right is think of planting multiple trees and each with different or similar fruits, right, so they have different fruits or maybe some of the same. You got, like, limes and lemons. You know what's going on there that your resources are spread across all the trees, so all your light water nurturing, and instead of focusing on one tree, you're trying to grow all the other trees so they have less light, less water and less attention, so they're not going to grow as quickly, but there's going to be more of them growing.

Speaker 1: 6:34

So, when horizontal thinking is actually beneficial, right? So if your main tree and your main venture at the moment isn't growing well, despite your efforts, it may have been a bad seed, so it might be like, okay, this is a bad seed, then you'd be doing something else and horizontal thinking allows you to plant new trees or new ventures that will grow better. Right, so you can go okay, this one or it's this tree, has maxed out. You know, horizontal thinking is great. This tree is as big as it's going to get, let's do something else, or you lose passion. You're like you know what? I didn't really, I don't even like these fruits, I don't like these limes. I want lemons. So like I want lemons. So like I'm going to leave this lime tree how it is, and now I'm going to grow a new lemon tree because I don't like it. It's not serving me, it's not filling up my soul, right? So essentially it's useful if the original tree has limited capacity and can't produce much fruit. Planting new trees is with bigger potential, can help. So you might know like oh, this new seed that I plant is actually going to be bigger. I'm super excited for this one. When the original tree reaches its full potential, start making another tree. It's also beneficial when you want to create an orchid.

Speaker 1: 7:37

Some trees can support the growth of others. So you may know as well like beneficial when you've got let's say you've got one tree or two trees and you know that if you plant this certain tree next to that tree, they're going to grow together so much more faster because they help each other. You know what I mean. There are different plants and species like that, so that. But that's essentially when horizontal thinking is beneficial, right? So in terms of a business, it's like okay, when my business has gotten big enough and it's not growing anymore, can I add something onto this or do I start something new? I don't like this career, what I'm doing anymore, or business. I need to do something new. And, okay, this one was a bad choice because this is its full potential and I can sort of see where it is here. Now I want to do something different.

Speaker 1: 8:20

So that's some horizontal thinking, and I believe that there are three main currencies, right, there are three currencies that help these vertical and horizontal thinking, and it's time, money and relationship. Right, money is not the only currency, because when you get to a certain point, you can make a whole bunch of money, have no time and no relationships. What's the point of it? Right, so you could get to a certain stage where you're making a certain amount of money and you can't make any more money because you haven't got enough time. So what do you do with your money? You buy back time. Now you're going to have more time because you make that money, but then you spend the money to get the time back, right? So it's the same thing. Relationships you can get to a point where you've got no money, no time, but you have to develop relationships in order for people to do different things for you or might take a load out of you, like a business partnership or something like that, which, oh, this is really cool because now I've gotten more time and money back, um, because of this new relationship, right?

Speaker 1: 9:07

So through my work, I understand that all of these three have like an inverse relationship with horizontal and vertical thinking, meaning like when you cap out the potential of one, it's time to focus on another and increase the capacity to continually grow. Right? So that's what it looks like. So this table here explains it. So time vertical thinking, when it comes to time, is maximize the time by automizing tasks and hiring for help. Inverse relationship when time is maxed out, buy back time with money through hiring or automation. Vertical thinking example hire a virtual assistant to handle the admin work.

Speaker 1: 9:42

Freeing your time for growth. Or inverse relationship is if it's not addressed, this is for time, remember. If it's not addressed, you might start new projects, getting distracted and running out of time to make more money. So that's like what you don't want to be doing when it comes to money as a currency. So vertical thinking and the inverse relationship to it. So vertical thinking is increasing your earnings by optimizing current income streams, which is like raising prices, running ads, referral programs, creating bundles and making sales and things like that. So it's like, oh, I need to make more money. The inverse relationship of that is when income is capped, it's best for you to either raise prices or improve what's working to maximize revenue, and if you don't use vertical thinking, you may need to start new ventures. Right, this is the horizontal thinking which could spread resources thin, meaning you run out of time or money to do anything.

Speaker 1: 10:31

Cool Relationships, last one. So relationships is for vertical thinking. It's deepening key relationships to leverage networks and resources. Examples strengthen ties with a top client who brings inconsistent revenue. Take them out to dinner, buy them, spend more time talking to them, buy them some gifts like all of that is so beneficial and then bring in investors to scale a successful product line. So that would be using relationships. So how can I bring in investors to help do this? It could be connecting on a podcast, it could be. You know. Whatever it is in terms of relationships. It's networking so that you guys can build business together in some way, some shape, some form, somehow. How let's go?

Speaker 1: 11:08

The inverse relationships to relationships is when you know you've fully leveraged your inner circle and it's good, and you aren't growing income. That's a new expansion network. You're like I've got an awesome circle, but for some reason my income isn't growing and I haven't got time, and I've got a little bit of time, what do I do with it? It's like like, okay, let's leverage that network, especially if you everything that you're trying isn't bringing in more revenue. Um, the example for that is like, without expanding relationships, you'll hit a growth ceiling and no matter how much time or money you spend on growing, it simply doesn't hit how you would like because there, because there is people, an idea and resource gaps missing, right? So it could be ideas. Someone had this idea. It could be a coach, could be a mentor. There's this or a resource gap that someone else has, like a channel of emails or something, or a social media audience, or it could be some people to do work for you. You haven't got enough people to work and someone has. You know, all the people. So all of those different things help you contribute to increasing either vertical thinking and making sure horizontal thinking isn't the dominant, unless it's time to do horizontal thinking, because then you don't want to be doing vertical thinking.

Speaker 1: 12:17

So answer these two questions, right? These are two questions for you and if you answer these, it'll make you so much more clear one and they'll help you get to the next level of your career. One is how are you using horizontal and vertical thinking right now? So if you had to map this out, you can literally draw a line, a horizontal line, and you draw a vertical line, and then you're on the horizontal line. You're right, what am I? Well, what are all my horizontal things? And then, on a vertical line, what are all my vertical things? And essentially, what you want to have to create a really tall tree is you want to make sure that you've got like it's like your vertical things. You've got way more vertical or they're a lot more bigger or they're powerful, and set a really strong foundation for the horizontal right. And then number two how can you best use horizontal and vertical thinking now to expand your growth? So, from this is like how can you best use these? And you might be someone who's an outlier too, who's like oh, I can use both of these to the best of my ability. And now that I understand these and I understand the relationship, I can use vertical and horizontal thinking together to maximize everything that I'm doing, especially if you've got a strong foundation or a strong chunk there.

Speaker 1: 13:15

So if this is beneficial to you, please share, like, subscribe, send this to somebody. It would be absolutely fantastic. And if you want to learn this on a deeper level, come and join. Set the Standard. We're the best place to be to learn the growth, understand the mindset and get to the next level. Because you're a podcast listener, you get 10% off. You can send me a dm on instagram and we'll go from there. Big love, guys. Thank you so much. Let's build this community, let's keep learning, let's keep growing and I'll see you in the next one. Bye.