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EPISODE 066: HOW TO GROW AN ONLINE BUSINESS IN A CROWDED NICHE WITH DR. TRACY TIMBERLAKE

Dr Tracy Timberlake is an award winning digital business coach who has been featured in the Huffington Post, Entrepreneur Magazine, The Miami Herald, and many more places. 

Tune in to today's episode to learn how Dr Tracy thrives in a crowded niche - the business coaching niche.

"I never really look at what other business coaches are doing. I don't know any other business coaches actually. People say it's a crowded niche, and I don't believe in oversaturation. Stay in your lane. I think that is the secret to my success. I have tunnel vision."

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Topics Discussed In This Episode:

  • How Dr. Tracy shifted from creating videos on YouTube to business coaching
  • Her early business struggles and how she overcame them
  • What she did to get past imposter syndrome
  • The most common obstacles holding entrepreneurs back from achieving success
  • Why she has succeeded as a business coach while many have tried and failed as business coaches
  • Her daily routine to cultivate the mindset needed to run a successful business
  • Her lowest and highest moments running her business
  • Why she co-founded and started Flourish Media Conference

Full Transcript

Chrys Tan: On today's episode, my guest runs her online business in a very crowded niche - the business coaching niche. So keep on listening to learn how my guest thrives in a crowded niche.

Today's guest is an award winning digital business coach who has been featured in the Huffington post, entrepreneur magazine, the Miami Herald, and many more places. So here's my guest, Dr. Tracy Timberlake. Dr. Tracy, thank you so much for jumping on this episode with me today.

Dr. Tracy: Oh, absolutely. Thank you for having me. I'm super excited.

Chrys Tan: I am super excited as well. Dr. Tracy, you started your online career on YouTube as a beauty and lifestyle blogger. Right now you are a digital business coach. How did you make the shift from creating videos on YouTube to business coaching?

Dr. Tracy: Such a great question. It was sort of kind of by accident. I always thought that YouTube would be like this catalyst for me, that it would change the game. I learned that I could make money by just being myself and talking about things that I liked. And then I was working with brands - with everything from Turkish airlines to herbal essences, and there was something really interesting about the online space that big businesses were getting right but entrepreneurs and small businesses were just not understanding.

They were coming to me and asking me questions about my YouTube show, "How do I start a YouTube channel? How do I...", and I was like, "Oh, what do you mean? Like you don't know how to start?"

That seems so simple to me but there were a lot of people that didn't understand it. And so that's kind of how it started. And I was like, okay, well I guess I'll start a business teaching people. And then from there it just grew and it grew.

And I studied the industry. My doctorate is in education and my study happened to be on business coaching, the online space, online entrepreneurs. And that's kind of how it transitioned. It's snowballed into something that five years ago I never thought I would be doing, but I'm so glad that I'm doing it.

Chrys Tan: So what made you decide business coaching and not YouTube marketing for example? So you were saying that people were coming to you like, hey, teach me your YouTube marketing strategies. Why not YouTube marketing?

Dr. Tracy: Well, I think because I just found a passion for helping people with every part of their business, because so much about YouTube and building a successful YouTube channel was about being a personal brand. And that was really the kicker as it's not just about having a YouTube channel. It's about how can you embody being a personal brand.

So once people started asking me more about that, then I started teaching on that and then I was creating courses. So then people started asking me how to create a course. And so it just became like one step after another.

And then because I'd studied it and understood the industry from the inside out with the research that I did during my doctorate studies, it became the thing that I was kind of just known for, like doing empirical research and understanding how it works from a different perspective than a lot of other business coaches.

Chrys Tan: Right. Cause I think what I read that you once mentioned on on a different interview was that a lot of business coaches, they focus on just the strategy of business, so they talk about that. You on the other hand, you have a (inaudible) factor. Can you talk a little bit about the difference between you and other coaches?

Dr. Tracy: Right. So again, because I studied it empirically... We all teach the way that we know how to teach, right? So a lot of coaches teach what they know, like what their experience was. And while my experience was a good one, I understand that because I came from YouTube, my trajectory was a little bit different than a lot of other peoples. And so I studied myself and I wanted to make sure that was transferable.

But then I also studied hundreds of other successful people. I interviewed several hundreds of other women who were doing this successfully cause I wanted to see like what was the thing, what was the tie that was binding?

What was the thing that made this make sense and made people be successful? And not just my own version of success, but what was the common thread? So I teach from that perspective.

And then I also believe that when it comes to building a business, it's not just about strategy. As a matter of fact, it's less about strategy and it's more about everything that happens in between. Like all of the support that you're going to require, the accountability that happens, the mindset work that needs to get done. Like I just don't think that you can... You cannot build a successful business as an entrepreneur and like your whole life sucks.

So I believe in coaching the business and the boss together need to be coached and not just like I can give anybody strategy, right? But the execution of that strategy is really going to depend on what's happening between years.

Chrys Tan: Right. It's literally the same as just reading a book, right? You read a business book, you read a marketing book, you've got all of these strategies and all these techniques, but if you don't have someone to help you... Essentially some people do need that hand holding, a little bit of handholding.

Dr. Tracy: Most people.

Chrys Tan: Most people. I mean I need some hand holding sometimes. I'm curious like who do you typically work with right now?

Dr. Tracy: Yeah, so I work mostly with people who are in their thirties, forties, some fifties and they're very successful in their own rights. So they've been successful in their corporate careers and they are realizing... they have very advanced degrees, PhDs. I just got a message on one of my Facebook ads that said, "Hey, I'm sitting here a whole bunch of W2 workers who have Masters degrees and PhDs and we're wondering how can we do this?"

They're successful. They've been doing what they've been doing for 5, 10, 15 sometimes 20 years, and they're realizing this is a very slow trajectory to success. They're working with a very antiquated methodology of success that's going to get them to retirement and then they get to live.

And they don't want that. They're in the prime of their life. Their kids are growing up, they're ready to start living now and ready to start making money and they've been so successful, getting an education, working in their career, they're ready to take it to the next level, but for themselves.

So those are the clients that I mostly resonate with. People who really were, like me, very educated, did everything right, did what everybody said you're supposed to do. You go to college, then you get a job, but you know, 10 years and going, this is actually not what I like. I do not like working for someone else. I actually know that there's something inside of me that I can contribute more.

So those are my clients. It took me five years to realize that when I was in corporate. It took me five years and I was like, I'm getting out of here right now.

Chrys Tan: Right. So, I'm curious. How long ago did you start your business coaching business?

Dr. Tracy: In 2016.

Chrys Tan: Okay. So when you decided, when you first decided to go from YouTube blogger to business coach, what did you do to get your first few clients?

Dr. Tracy: I said, hey, I'm starting this. That was really it. And that's because I was already very comfortable in the online space and I think that is what contributed to a lot of my success and why it grew so quickly is because I had no problem making video. I had no problems talking on camera. I had no problem being on Instagram, you know, and I didn't have any issues declaring myself as whatever.

So when I opened my first business coaching type of program, it was, I would say, I think it was the spring of 2016 and I simply just said to my community who had been following me, both from being a YouTube blogger, but also from me teaching them how to make YouTube videos.

I said, we can make YouTube videos. But how about I teach you how to make YouTube videos and make money with it? Not just making a channel, not just making videos, but I'm going to now show you the process of making money as an entrepreneur. And that was really the transition.

So I still use video and I still do use a lot of video to attract clients. That's a very special thing. Not a lot of people understand YouTube. It's like a mystery, right? 

There's a lot of social media strategists, a lot of people on Instagram, a lot of people know how to use that. Not a lot of people know how to make money on YouTube.

So it still is very much a part of my branding. I just do it with, you know, as, as a whole, as a part of a whole versus just YouTube.

Chrys Tan: Did you run into any obstacles getting new clients or convincing new clients since you were known for being a YouTube beauty blogger?

Dr. Tracy: I don't think that there was... Like all of the resistance that I experienced was at myself, you know, like...

Chrys Tan: So let's talk about that. So what was the resistance you faced internally?

Dr. Tracy: Yeah, I, that was one of them. So one of the things that I faced internally was like, are people going to accept me as like a business coach? Like I talked about lip gloss and hair products and how am I going to now transition to this? I had the... what everybody kind of feels in some point is that feeling like a fraud, that imposter syndrome. Like can I do this? Is this possible for me?

So that was really probably all internal stuff that I had to work through. And I had coaches to help me along the way. I have a life coach. I've been working with him since then to really you know, get my mindset right about growth and expansion and new opportunities.

And now, my business is at a point where so many things are happening. So many things that are really industry changing. I haven't even talked about a lot of it in public yet cause I'm still like, how do I even tell people about this.

Chrys Tan: I want you to announce it on my podcast. Tell us all about that stuff.

Dr. Tracy: Absolutely. So one of the things you hear it, hear it here first people, so one of the things is working with an investor. And a lot of people work with investors when they have brick and mortar type companies. They have, you know, real estate company or they want to build a plane or whatever.

But in terms of like being a personal brand, this is not something that investors typically invest in. Because it's new, it's risky, right?

And so I really get this opportunity to work with... He's a billionaire and he has taken a look at my business model and stuff. I just had a meeting with him, I just came from a meeting with him and he told me this because he is billionaire investor, has tons of businesses, has invested in lots of business, mostly real estate thing, he has a casino, things like that.

Because of my profit margins and how the online space works, I'm like, well these are my numbers. This is how this works. And he looked at them and he was like, "I don't think you understand like what you have on your hands here, like your profit margins are", this is what he told me. He said, "your profit margins are more than cocaine". So he was like, "your profit margin is more than you sell cocaine".

And I was like, well that is, that's a thought. I will use that in my marketing at some point. And because they're so high in the online space, like they are so high and people don't understand it.

So he's looking at it as a very good investment opportunity. And he just told me today, he said, you know right now I'm launching a program. And he said, once we get these numbers back, he was like, I am (inaudible) people. Cause like I could invest $100 million. How much do you want? Like he's literally like, how much money do you want? Cause I will invest whatever in this business because the profit margin. And I'm like, wait, whoa. Like first of all, I don't even know what I would do with $100 million. So you need to wait, you know, so things like that that are like just opportunities that are coming simply because I made a decision to do something new, and now I get to pilot this.

And so hopefully what it does for the industry is it legitimizes the coaching industry, hopefully, and it also brings a lot of other investors into this space. A lot of other coaches and consultants and personal brands can start to get some resources that they need to launch bigger products.

Chrys Tan: Can we just go back to the moment where you're talking to earlier about the mindset you had when you were transitioning and you were struggling with stuff. How long did you struggle with that mindset of like, I'm not good enough?

Dr. Tracy: So here's the benefit of having a coach, right? And benefit of having somebody to walk with you is you don't have to struggle for that long. Like it probably was a solid week maybe. But that's because I had somebody that was helping me walk through it.

And I tell people this all the time. The reason why people fail is because so many things like things go un... Like you don't clear things up quick enough, right? Like you wait too long to get help and then that's how people fail.

But if you have somebody on your team, you have a coach, you have a mentor, somebody that's walking with you, it shouldn't take longer than a week or two to like start to see traction and movement in the right direction with some of those mindset things.

Chrys Tan: Do you remember what your coach did back then or said back then to kind of shift you from, oh my God, am I good enough to yes, I am good enough?

Dr. Tracy: Well, I think one of the things that he reassured me was of my own vision. Like he was like, this is your vision.. Was to talk about the vision and where I said I wanted to be. And then he said, okay, now talk to me about the things that you've already accomplished. So why would you not be qualified to do this? Like when you've done all this already, you have the education, you have the expertise, you have the knowledge. So why would it not be something you're able to do that.

Chrys Tan: That's a really good advice. So now that you have a successful established coaching business, what are you doing right now these days to drive new clients?

Dr. Tracy: Content. In the online space, it's all going to be content and it's all going to be human centered content - content that really people resonate with. And I think that's what you need to make sure, like whoever you're trying to attract that you're creating content specifically for them.

So I talked to a higher level caliber of people I say this says, these are the people that I work with. These are the kinds of people that I'm looking for. I call them out, I call them out from, from the shadows. And I say, if that's you, let's do this, you know? So it's just, it's mostly content. So it's gonna be video, it's going to be Instagram.

Chrys Tan: Can you give me kind of like a, just a brief overview of that strategy, that content strategy you're talking about?

Dr. Tracy: Yeah. Hyper visibility. So when I say hyper visibility, it's strategic visibility. It's not that I'm on social media every day. It is that I create content and then I make it work for me. So I will use that in the form of paid advertising. I will use it in the form of free organic traffic through my YouTube channel or through my blog.

And then really maintaining visibility with my current and existing community. So making sure that they're always getting content, new trainings being released, even just live streaming on Facebook, that's gonna be a big one. Making sure that I'm always giving value wherever I am and then that everything gets reused and repurposed into multiple different places so I don't have to keep doing it all the time.

Chrys Tan: Got it. All right guys, go check out drtracytimberlake.com after today's show. Now, before we go onto the show, just let me do this very quick read. So today's show is sponsored by my messenger marketing agency, Chrys Media. We work with our clients to help them get more leads and increase engagement and sales with Facebook messenger marketing. Now, if you're interested to learn more about Facebook messenger marketing and how it can help your business and go check out my free online training on how you can use Facebook messenger marketing. So go to hackyouronlinebusiness.com/messenger after today's show. 

Dr. Tracy, have you heard of Facebook messenger marketing?

Dr. Tracy: Yes, I have actually. Yeah, I like Facebook messenger marketing, everything. Like I think Facebook is really doing a good job of trying to find different ways that brands can get in front of their audience. Right. And I think that there are a couple of things I think that could still do, but for the most part I think they're taking the things that are already on the platform and then just trying to make them more useful.

Chrys Tan: Have you tried using it for your own business?

Dr. Tracy: I have not. Well, not for my personal coaching business, but I also co-operate another company called flourish media and we've used messenger marketing for that.

Chrys Tan: Alright. So let's talk about flourish media. Cause that's one thing I wanted to ask you about because you're not just a business coach. You've got flourish media as well. So tell us a little bit more about flourish media.

Dr. Tracy: So flourish media is a company that I co-founded with Vivian Olodun and Sasha Revolus. And it's a full service boutique marketing agency. So we work with a lot of clients, mostly in the training. We do some hands on stuff, but mostly we work in training small businesses medium sized businesses on how to strategize their social properly. And so we work with people like the chambers of commerce, we work with the Miami tourism board, we do workshops and we just teach them how to use it.

It started off because we created a conference called the flourish media conference and you know, speaking of the investors, that's kind of how we got connected is because we had this pool of investors that said, hey, we want to invest in women owned businesses. How can we do that? Like we do, you know?

And so we thought it would be a good idea to just put them all in a room here - all the women owned businesses in Miami, so have fun and just make those connections with the investors because they've committed to up to $15 million of investment funding for women owned businesses. And we do it every single year. We're moving into our fourth year. So we're really very excited and very proud of what we've been able to build.

Chrys Tan: I think it's amazing. So I've actually checked out the website. It's great. And I love that's focused on the minorities in the United States. So I think that's kind of amazing because a lot of times I feel like in the entrepreneurship and the business world, it's still a lot of white males who are dominating the business space. So I was very excited to find your conference and I thought it was amazing.

So here's a question, right? As a business coach, you've worked with a lot of clients. I'm curious, what has been like the most common obstacles holding entrepreneurs back from achieving the success that they want?

Dr. Tracy: Fear. I mean, it can come in a lot of different forms. They can be either it's a fear of failure or it can be a fear of success. It's sort of a little bit of both. And it's interesting and a lot of times people don't realize how afraid they are because they're so used to this comfort zone that they've built. They're so used to what's familiar. I mean, moving into an entrepreneurial space, if you've never done it, it's unknown. It's completely unknown. You have no idea if this is going to work. All you have is like a laptop and a dream and that's it. You have no idea.

And so when you do something new and because the paradigm of entrepreneurship is not widespread, I mean, as entrepreneurs we kind of run in the same circle. Like we kind of all know each other, but other people who are just coming in, they don't know. So they do not know how much success they can truly have.

Me growing up, like I said, I didn't know any entrepreneurs. Everybody that I knew they had a job, they were in the military. And so I grew up in a paradigm where that was the normal. And for the majority of people, working a regular job is the normal paradigm. So to step out of that, into something completely unknown and something completely new it's, it's terrifying.

And if you give in to that terror, if you given to that fear, then it's not going to work. You're going to quit before you start. You're going to fail before you find any success, and then you're just going to give up. So that's the biggest obstacle that a lot of people experienced.

Chrys Tan: So what do you normally do with clients who face fear? Like what steps do you work with them?

Dr. Tracy: Well, I walk them through understanding why they're afraid. I think because when you are aware of the reason, like the awareness of something, as soon as you put your attention on it and you make yourself aware, automatically you're halfway there, you're halfway to getting over it. So once I help them to understand what they're truly afraid of, then we can create strategies around it.

So part of it is, and what I do is I work with the brain science of why we're afraid. And we're afraid because of the past, because our past looks like this and now we're trying to create a future that looks completely different. And so your brain is now fighting itself, like you're now stressing yourself out.

So I work with a lot of brain science. And I explain it because remember, I work with very educated people, so they appreciate this level of of intuitiveness to it in a different form. And then I walk them through why they're afraid and I walked them through how to scientifically get over it. And I think that's very helpful. And then from there, it's just, again, just being a champion for them. Because when people want to start businesses, when people want to become entrepreneurs, they're in, if they do not have entrepreneurs in their life, they're going to have a lot of people that are feeding them like, "Oh, it's not gonna work. Why would you do that? Why would you invest this? Why would you pay a business coach, like, you've spent so much money on your education."

You know, they're gonna have a lot of resistance. So they really need somebody in their corner to be a champion of their dream and to encourage them where they are and to remind them of why they started because we cannot often coach ourselves. You know, like as good as I consider myself a very good coach, but I cannot coach myself. And having support to see those gaps is really beneficial. So that's what I get to do. I get to hold that space for my clients too.

Chrys Tan: So, this might be a silly question, but how can my listeners actually know if they've got fear holding them back right now?

Dr. Tracy: So this is a great question because if you, this fear is going to be something that causes you to shrink, right? It's going to be the opposite of expansion. Cause you have to remember the thing that happens when you're fearful is your body is flooded with a whole bunch of hormones that will either cause you to fight or flight. It's the fight or flight response.

And it's not as extravagant as like if you're being chased by a lion, I mean that's a very different kind of fear. But if you are still feeling like, Oh, I'm afraid to do it, so that means I'm not going to move forward, then you know that there is a fear there. You may not know what the fear is. You may not even be able to identify where it's coming from.

But if something is holding you back from moving forward, and a lot of the times it's a fear of money and people don't understand where their money lies, where their money you know, just they become so, so caught up in this physical thing called money that they can't move forward because they're afraid of losing it or afraid of spending it.

So money is the biggest fear because people, that's a security blanket for a lot of people, right. I would say if you are in a place where you're not moving forward because either you're making money, the stop sign or because you're afraid of what people would like, you don't want people to judge you.

You're afraid that people are going to say something to you and it's causing you to stop. Then you know that there's a fear.

Chrys Tan: Do you by any chance like meditate to get past that?

Dr. Tracy: Oh yeah. I'm a huge meditator.

Chrys Tan: I love Abraham Hicks. Abraham Hicks got me into this whole... I found Abraham Hicks meditation on YouTube just by chance. Yeah. Wait a minute. Abundance. Right? Abundance meditations. You don't realize you need it until you meditate and then you're like, oh, wait a minute. Right?

Dr. Tracy: Yeah. Yeah. I'm a huge meditator. I love meditation. It's definitely one of my tools. You know, the other day I said on Facebook. I said, it takes me like two hours to get out of my room in the morning because I spent so much, that like I'm always giving, I'm always serving. I'm always out and about.

If I'm not online, I'm in person, I'm speaking, I'm even losing my voice. I've had so many speaking engagements in the last few weeks that if I don't censor myself first, that's a problem. So I need to make sure that like in the morning when I get up, I go get my tea and meditation and stuff.

Chrys Tan: Can I just make you walk us through your routine? Because I love to know what you do. So what do you do on a daily basis or on a weekly basis?

Dr. Tracy: Okay, so daily. I can break this down daily. So it starts the night before. The night before I put my phone on airplane mode. I don't like waking up and seeing notifications cause you gotta remember - it's brain science.

So when you sleep, your brain is going through several different stages and when you wake up, if you see notifications, you're throwing yourself directly into a stressful brainwave and you want to capitalize on the fact that you're relaxed when you wake up.

So that's the best time to do the meditation, the best time because you're so impressionable, your brain is like ready. It's prime. So I throw my phone into airplane mode and then before I go to sleep, I have affirmations that I've recorded for myself on my phone with binary beats, you know, to kind of help me relax. I have people, you know, I have a producer that worked on that stuff.

And so before I go to sleep, you know, it's going to take you a while to drift off to sleep anyway. So I just put my headphones in and then for 10 minutes I'm listening to all the affirmations that I've recorded for myself.

Then in the morning, as soon as I wake up... Because I don't wake up and like, Oh, I'm ready for the day. So in the morning I listen to the same as, so as soon as I wake up before I feel like, you know, like that time when you get up out of bed and you're like, "oh, but I'm still in my bed. I don't feel like moving". So I put my affirmations back on because that's the best time to listen. Right. Your brain is primed.

And then from there I will get up, I like to, you know, get up, brush my teeth and do all that stuff before I go into my meditation. I'll journal, I like to journal, I read something, I read the Bible, I'll read something and I'll journal through some things and then I'll do probably a solid, you know, between 40 minutes to an hour of meditating. And then I'll be ready and I'm like, okay, now I'm ready. Then I'll take my phone off airplane mode.

Chrys Tan: Wow. Thank you so much for walking us through that very, very detailed routine. And I hope guys that if you're listening in, I hope that was useful cause I love it. Right? I think it's always useful to kind of know what the successful entrepreneurs are doing on a daily basis so that you can have an idea as well what you should be doing.

So I want to talk about this - business coaching as a niche, right? It's a very, very packed niche. I know at least 15 business coaches, right? So why do you think you've succeeded as a business coach while many have come, they've tried and they've failed as business coaches?

Dr. Tracy: Because... And this is what I say, I have always, always, always stayed in my own lane. I never really look at what other business coaches... I don't know any other business coaches actually, you know, people say it's like it's a crowded niche.

And I don't believe in over-saturation and I don't believe in crowd. I believe in, if you stay in your lane, you stay in your lane. So that's, I think that is the secret to my success is I like have tunnel vision. Like this is what I'm doing. And I've always been able to, to call in opportunities that are very different than what other people are experiencing in terms of like even other business coaches, right?

Like what I've been able to do, I've kind of always done, if I see somebody doing something, I'll probably do the opposite because I think that I just want to do it differently. I've kinda been a rebel in that way, but that helps me because either it's gonna work or it doesn't work right.

But I've always only done things that I believe in and I've always just stayed in my own lane.

Chrys Tan: Can you give me an example of doing something totally differently from the rest of the other business coaches?

Dr. Tracy: Yeah. So, you know, when it comes to starting businesses and people that work with people who are beginners, most people will kind of stick to a particular, let's say price point, right? They stick to a price point.

I decided that I was going to charge double what that price was. And you know, it's very different. It's not industry standard at all. I was going to charge double and the courses that I was going to create were going to be very different.

Like everybody kind of has a course that's done a certain way. I decided that when I was going to create my premier program, it was going to be done the exact opposite and I was going to create something that nobody else had. And because of my experience in building community online, because of my experience and my education and understanding how curriculum works and how to really build out courses based off of how people learn, that's how I did it.

And it has worked and my numbers are much different than most other business coaches, but it's because, again, I just, I stay in my lane, I do what I know how to do and I don't try to do anything else.

Chrys Tan: Can you tell us a bit more about the course that you're talking about?

Dr. Tracy: Yeah, so I have a course called platform and it's a six to seven month program for people who are really just getting started. And like I said, it's probably double, triple the price of what anybody else is charging in that space. But you know, the way that it's done, the way that I teach is I teach the traditional way that people have learned.

So I take what I know of learning theory and understanding it and I say this is how we're going to, this is the model. So it's very, it's not like I'm going to give you a recording and then you're going to go listen to it and then you're going to come back to me with questions. I teach it very much like a classroom.

I've taught in higher education, I've worked in higher education for seven years, so I created the curriculum to be like a college class. And you know, even when I was talking to the investor today, I said when I created this program, I created it specifically to look like college but online, because that's how people learn and I know that that's how people learn So that's how I created the program.

Chrys Tan: So for those who are interested in applying for that program, where can they go to apply for that program?

Dr. Tracy: You can go to my website or you can go to my Instagram. Actually that's probably the easiest way. So I'm on Instagram. Click on the link in the bio and that'll take you to where you need to go.

Chrys Tan: So right guys, the link is drtracytimberlake.com. I'm going to give you guys the link again at the end of the episode.

So Dr. Tracy, here's a question. In running your business, I am sure you've had your ups and downs. So what would you say has been your, your lowest and your highest moments thus far?

Dr. Tracy: Well, my, let's see. Oh gosh. My highest for sure has been what I've created with platform. I mean it is the premier program. We're working to get it inside of universities as we speak because like I said, it's designed for that. So working to get that curriculum inside of universities, working to take it to completely new heights.

The internet opportunity has been great and I love what it's been able to do with my brand and how I've been able to correct my business. But I know that there are more people that aren't always on the internet that want to learn. So that is probably the best thing. Like definitely one of the highest. The low? I don't know what the lows are.

Chrys Tan: You've got no lows in your business?

Dr. Tracy: What are the lows? I mean, there's always lows, right? There's always things that don't work out, but I can't say that anything has been a low. I feel like I have been so fortunate to, to really be able to do the things that I love and to work with really amazing people, to have really amazing clients. So I can't say that there's been... There's a lot of learning opportunities. Yes. Things that don't work, you try something, it doesn't work. No big deal. You can move on.

But yeah, I think everything has been, I mean, listen, everyone in my life is not perfect. I don't want to say that at all. That is not it. But what I'm saying is everything really has been a lesson and I take them for that with a grain of salt.

I heard Oprah in an interview, one time somebody asked, this was before her show became the big show like Oprah, before she was Oprah, she was just on the radio and she was moving into creating this television show and she was being interviewed.

This was 1984 and she was being interviewed and somebody said, you, so you're starting this new show, dah, dah, dah. Like, you know, are you excited? She's like, yeah, yeah, I'm excited. And she said, you know, I'm going to do the show. The show is going to be great, you know, and the show is going to do well.

And she said, the show is going to do well. And then the interviewer, the guy said, well what if it doesn't? And she said, well, I will still do well because I'm not defined by a show.

And I said, yes, that is Oprah. Like that is exactly how I feel as like there's not one thing that defines me as a coach or as a person. If something doesn't work, then it doesn't work and we try something else.

But know that I know my vision and I know the greater purpose for why I'm here and that's what I'm going to focus on.

Chrys Tan: Don't we all love Oprah, right?

Dr. Tracy: Gotta love Aunty O.

Chrys Tan: So before we end up this episode, I'd like you to share your final tip. So what is the biggest lesson or strategy or tip that you have learned as an entrepreneur?

Dr. Tracy: Start before you're ready. That is the big tip. And I know a lot of people say it, but I tell people, listen, you have to launch ugly. It is not going to be perfect. It was never designed to be perfect. If your focus is on perfection, you will not do well. If you're always focused on perfection, this will not go well for you.

So launch ugly, learn in everything, learned through the entire process and study people who do it right. Study really successful people in the industry because you're going to learn their habits. You're going to see what patterns create success and then just emulate them. That's it.

Don't try to reinvent the wheel. Just study what people are doing well and then adopt it and do it yourself.

Chrys Tan: I absolutely agree on the last point, because there was this really, really famous sales guy called Brian Tracy who teaches that if you learn what the successful sales people are already doing, you just follow whatever they've done, then you're just going to get to where they are. Right? Guys so this is a perfect way to close out this episode. Guys, go check out drtracytimberlake.com after today's show. You can also follow her on Instagram or on YouTube at Tracy Timberlake.

Now, thanks guys for spending time with me and Dr Tracy. Head on over to hackyouronlinebusiness.com. You can find the show notes, the links, and everything that we just talked about today. So thank you so much, Dr. Tracy. I appreciate you taking time to come on the show.

Dr. Tracy: You're so welcome. Thank you for having me. Bye everyone.

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