The Business of College Consulting
The Business of College Consulting
Scott Hamilton: The Growth of Future Stars College Counseling
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In this episode, Brooke interviews Scott Hamilton. Scott is a past president of the Higher Education Consultants Association and the owner of Future Stars College Counseling.
Scott shares his journey into the college consulting business, how he transitioned from working with students in their homes to having an office, and how he expanded his team of counselors. He discusses his marketing strategies, including speaking engagements, referrals, and raising fees.
Welcome to the Business of College Consulting podcast. I'm your host, brooke Daly, founder and CEO of Advantage College Planning and Advantage College Planning. Franchising, building and growing a business is not for the faint of heart. In this podcast, you'll hear incredible stories from successful college consultants about growing a thriving business. They'll share the secrets behind a remarkable growth and the trials and triumphs shaping their path to success. Hi everyone, welcome to the Business of College Consulting podcast. I'm your host, brooke Daly, and I have the pleasure today of speaking with Scott Hamilton, owner of Future Stars College Counseling. Scott, thank you so much for joining me today.
Speaker 2:Oh, my pleasure. Thank you, Brooke.
Speaker 1:So, scott, you and I go way back, like I was trying to remember the year that you were a heck of president, do you remember?
Speaker 2:2012,. Yeah, almost a decade ago.
Speaker 1:More than 10 years, which seems impossible, I know I'm sure for you it does too, but I will tell you that when you were serving as president, I had the pleasure of working with you on the heck of board and I remember being a fairly new heck of member and just really appreciating your leadership style and even the way that you approached college counseling and I felt like I learned so much from you back then, and so I really appreciate that it's coming full circle and you're on the podcast to share your business story. So thanks again.
Speaker 2:You're very welcome. I'm very kind of you.
Speaker 1:Thanks. So let's talk a little bit about your origin story and how you got into business, because it is a little bit unique. I think you have a cool story. I feel like college counseling may have found you instead of you finding it.
Speaker 2:Yeah, yeah, that's a great way to put it. Yeah, it's definitely not the most traditional path. I was 30 years old and I had, since college, I'd done a lot of things. At that point I had been an accounting executive for AT&T headquarters in New Jersey and kind of rising the corporate ladder for a little bit and realized that wasn't quite for me. I worked at United Way as an accounting executive. There was a fundraiser and even was a draft guide on the Colorado River and a bartender for some time. And I got to the point where I knew I and I always kind of knew I wanted to own my own business. I knew enough about myself, I didn't really like working for other people. And so I remember I really come back from my honeymoon and at that point I had this little flyer that would show up every month with businesses for sale. And, lo and behold, future Stars was an existing business in Sacramento and it was being sold. And so, long story short, there met with an owner and it went through a business broker and I took over the practice and that was 1990. Yeah, it was. So it was.
Speaker 2:I didn't know what I was getting myself into. Honestly, I've often said it was both simultaneously the best and one of the worst decisions I made. I can't believe you're talking about that. I love it, I love the work. It's obviously been what I've dedicated my professional life to. But I didn't know anything about college admissions and so he had a pretty established practice and I took over all his juniors and he finished his seniors and a year later I graduated 53 seniors and I had about three dozen underclassmen that I was working with, and so it was definitely the deep end of the pool right from the beginning. And he had set up a practice too. And I've often said it's like taking on someone's wardrobe that is the same size as you, but it just doesn't feel like it's you. And so I had the A great analogy, and I lived with that for a while and it was very intense.
Speaker 2:You were seeing kids monthly from freshman year on when they wanted to do college visits. I would set up all the college visits and have a whole itinerary for them. I mean it was really almost too much, but it was a way to really make people delighted with the service, and so it was probably the key to the expansion the experience, and I experienced when it was at first three, four, five, four seasons, I literally worked seven days a week from Labor Day through Christmas, except for Thanksgiving, and that was just to keep up with it. It was wildly inefficient. I mean, this was the internet was in its infancy, right.
Speaker 2:I mean I had a typist that worked at the police station at Sacramento State University and she was administrative assistant there and so there was a reception area I could go in 24 seven and I could drop off packets for her to type up the application. So I would be there at midnight sometimes, you know, talking to the clerks, dropping off or typing for the next day and picking up the stuff for the day before, and I was getting burnt out and did I remember right that I feel like there was.
Speaker 1:Maybe you were on a panel or something and we were talking about efficiencies. Do I remember right that you drove to everyone's house, like you met all of your students in their houses?
Speaker 2:Yes, I mean I was in my apartment right now, right, so there was no. You know, I bought basically a phone number. I mean there was no website, there was no binder, no handouts, there was nothing, and it was no office. So I just drove around people's homes all over the greater Sacramento area and this is for those who are certain age, you'll remember the Thomas guide, and so this was before the smartphone, and so it's literally this big, thick book of maps and figuring that you know how to get to all these different places, and so that was also why it was. It was about as inefficient.
Speaker 1:It's great. Yeah, yeah, that's amazing. I'm surprised that you survived that first year and you didn't just throw up your hands and say I quit.
Speaker 2:Like I tried. I tried to sell the practice back, did you? I literally I mean, we were. I was about a month into it and it hit me and I was like, and I went to the business program and said, you know, this is like you sold an accountant agency someone who was not an accountant. And I said, you know, I want to sell it back and it was just not going to happen. And it was honestly a pivotal moment for me because the bridges were burned, there was no going back. And so I remember actually having a really sense of calm when I walked out of the broker's office that day and I realized I'm stuck with this. And so you know, it was almost like, okay, you know you got to lean into it and make it happen. Yeah, it was, it was.
Speaker 2:It was a tough time, for sure, but it was exciting and I was young and you know, you got the energy and was getting to the point where I just was going to have to start turning white clients. I mean, I'm almost ashamed to say it sometimes, but I was graduating. At my height I think I had like 70 seniors and you know, when I was raising a young family, it was the main income, like I just couldn't turn away business. And so I started working with a business coach and it was interesting because I met with him for the first time and he had set up a coaching model that was all set up about efficiency. And I went to him for coaching and I finished the first meeting with him I said you have what I need and I said I would love to hire you as my coach, but I also want, it's okay with you, to help me kind of replicate what you've done for small businesses, to do for college council. And that's when I got my first office and I had a training space and I had separate meeting spaces. It was still me, but I was building up the space to expand and I moved into a hybrid and so I went from one-on-one in their homes they were going to come to me.
Speaker 2:I did a combination of one-on-one meetings. I did what we call forums teach them how to write the essay, study skills, habits of highly successful teens and we do mock admissions exercises and then small groups for doing essay work and application work and they're not working as groups. I always tell families it's one-on-one help in a small group setting so I can have the kids there for a longer amount of time. So this was pretty much unheard of at the time, and I would go to conferences and I would tell people my model and some people wrinkle their nose and like, well, that's not going to work. Families don't want to know that they're working with someone and that's how. My families are okay with that, and so that's pretty much what I've done. And then I started to look for counselors and, as we all know, that can be one of the biggest hurdles.
Speaker 1:Yes, I'm curious about your work with your business coach and that impact. From the time that you started working with your coach, what was the first thing maybe that the coach said or that you did as a result of the coaching that really was a turning point for you or made a difference in your structure?
Speaker 2:Yeah, and his big message was why do you own a business? And it's really. This was again. This was the early 2000s. I mean the mentality in the 80s and 90s and at that point was you go hard and you're proud if you're the executive, I can do this on four hours sleep. And we looked at that now and it's so silly and we realized how unhealthy it is.
Speaker 2:And he was like that's not. It's there to serve you, the business. And he used to say it's like you don't want a JOB. He's like you didn't buy a job, you didn't start a job. He's like you want to serve the business. And so that meant delegation and structure and really shaping the business to help you live the life that you want to live. And it was. You can hear those words once and it makes sense. But his was two years of going to weekly forums that this guy had. He had like 50 topics that he covered and everything from bartering to how to you know, like their accountant to HR, and it was like getting like an MBA in small business. Right, love it. But that was always the underlying message.
Speaker 1:Yes, I love it. Were you nervous or worried at that point, like with his recommendations of like, growing, expanding, like I mean every stage of business growth, I feel can be scary. But like, what were you nervous about? Or wondering, is this going to work?
Speaker 2:Right. I was most nervous about the transition from I'm coming to your home and sitting in your living room or at your kitchen table and now you're going to have to drive 10 to 30 minutes to my office. And so that was. You know how are people going to handle this? And so you know, that was the thing I was most concerned about. Was I going to lose clients? I would get, because I've been driving around. I wasn't just serving, like my little local town, I was clients all over.
Speaker 2:It was when we were moving from paper to online applications, and so part of the way I positioned it I said family is like listen, I go we. And that was before laptops and things too, like you need to walk into a kid's house with a laptop. They didn't have a laptop, they may have a PC, and you know, in an office and back to the house. So I said I need to have a place where they can come work on their applications and do them online. And they're in, and it was. You know we forget too.
Speaker 2:It was the common app, first of all, was a lot clunkier than people aren't as savvy with this, so the kids really did need a lot more guidance, and that's how I kind of, you know, help people see it and you know, and then it was able to expand right away as I'm going to have these forums and we're. You know, I also let them know that a lot of the things I'd be able to do I wasn't able to do us in their homes, but that was, that was the thing that was definitely that was the most anxious.
Speaker 1:Yes, that makes perfect sense and it sounds like in those early years you didn't have to do a ton of marketing Like I feel like your over-servicing was your form of marketing.
Speaker 2:Yes, yeah, I would, exactly, you know it falls also not starting from scratch, that's scratch, you know. So I bought that. You know, the phone kept ringing and as long as I was able to show up and people had faith in me, I because I didn't know a lot, I was learning quickly. I mean, I was super hungry for it, as you would be, especially when you're having enough sit in front of these families. You can't take it, you know. But it was, marketing was never, it's never really been an issue. I mean, when I had, when I started taking on employees, then I had to start getting into the marketing piece a little bit. But I've been fortunate that way.
Speaker 1:Yeah, yeah, I mean, I was so lucky to have you in business before you hired your first employee.
Speaker 2:I was thinking it might have been five. I even was in that center that I had for maybe a year or two before I was ready and found the person the first person I found. I helped set up and was instructor at the UC Davis College Counseling Certificate Program. Oh yeah, awesome, and that existed for a few years and then it went away. But yeah, I hired my star pupil and she was fantastic. I really was rockstar and young and had a lot of energy and it was the first time I started to realize that you can start to leverage other people to help you do things in the business as opposed to just working in it on the business.
Speaker 1:So that was fantastic, yeah yeah, yeah, I agree, and I think there's something special about that. If you're working with someone who you've worked really well with, that synergy of like and just feeling like you're both like moving the needle versus just one person, and then the other person is more in a like employee role, like I don't know, I think I feel like I'm very passionate about the first person who I hired, who's still on my team, and I feel like she really did help me push the business forward.
Speaker 2:So it is. It's true, when you have someone, you know, my wife was relieved because now I didn't come home and talk about everything, Right, you know, and just the bounce ideas off and get perspective and play on other people's strengths, and you also, you know, the thing that's been great about having other counselors is adapting pieces of their style that I see, I'm like how you know, like that's. I watched the way she just approached that kid and that's like learned from that, you know, and that that was also kind of eye opening. As much as you're teaching them up You're, if you're smart, you're also watching.
Speaker 1:Absolutely, I love that. So tell me about the growth of your business you started. Did you hire a full time like employee, like a W2 employee? Was she a contractor? How did you expand your team?
Speaker 2:Yeah, so I did W2 because I knew the way I was going to manage it legally couldn't have been a contract employee, and so I was just going to have too much control. And so she was a teacher English teacher at a charter school and was also doing some college counseling for them, so she was able to transition. So she worked for both for a while and eventually she came on full time with me and that's pretty much how I worked with a lot of my counselors, where they just always stayed part time and had that other day job, got it. That makes sense, and yeah. And then she was there for a while and then started to bring on some other folks and learned a few lessons about trusting my initial instincts and not hiring someone just because I needed someone to fill the spot, you know, and as we do, and then eventually ended up with a team of about three counselors. At the fight she had a child in Medan, but I had hired the team and where those people came from I know that's always a question, right, where do you find folks? That's great, and I tried everything and indeed I even worked with a head country that specializes in higher education in places, people at boarding schools. That didn't really generate anything but where I posted on the my local ACAC job board, and that's how I found one person. I also, just at one point, sent an email to my entire client database.
Speaker 2:So you know what we do. You know who would probably be the goodest? You know anybody. And that's where I found a phenomenal local guidance counselor who worked with me for years part time. And then there's those just show up and so I had two of my best long time counselors.
Speaker 2:They just were moving here from the Bay Area and you know the guy that was my last hire about six years ago. He reached out and his timing couldn't be better. He was like so yeah, I know, you know a lot of people say that you probably aren't hiring, you don't need anybody, and I was like what are you moving here? And what could be I need you Right. And he was the guy you know. So it was perfect, yeah. And so I was up. We were. I had that. Plus I had an online counseling business that was about five counselors there and that was under a different name, but it was primarily taking a lot of overflow from future stars because we really weren't doing senior hourly work anymore, and so those they were able to take on that work, and so we were serving about 220 families at the height of the operation.
Speaker 1:Yeah, that's a lot. So did you have any other support staff other than your consultants?
Speaker 2:No, never did. Yeah, yeah, I just it's just the margins. You know it's tough when you've got someone that is not bringing anything in. So no, we're just kind of brand efficient. I have part-time employee that costs me a lunch about once a month, unless my mom. She comes down and we'll do the filing and things like that and she loves it to stay. Yeah, she loves it. Yeah, so that's about it. All of that's pretty cool. Used to book meetings before College Play-Doh Pro allowed us to automate that. Yes, yeah.
Speaker 1:I love that. And how about essay review? That's always a big question, you know. Did you have? Did each team member take ownership of their students' essays?
Speaker 2:Yeah, that's great. Yeah, we've always stayed that way. That does make a little higher, harder sometimes to find the right person because that can have everything and maybe missing that piece, but I always just felt like they knew the kids the best and I felt like that really helped them. And so, yeah, we've always kept that in-house counselor working on all the essays for their kids.
Speaker 1:Yes, I love that, I love that. So, when you think back on that growth, well, I guess first, I'm sure people listening may be wondering about your online option. Like, at what point did you decide Because that's a totally different model, of course, different revenue stream Like, what were the challenges with that? What? Like, at what point did you decide that that's something that you wanted to do?
Speaker 2:Yeah, it really struck me largely when my own children were going through the admissions process and that meant my friend's children were going through the admissions process and you know you work with a certain population of folks and then you forget that they're not the only people who are sending their kids to college. And who I worked with were calling me in seventh and eighth grade. Our college was something they were talking about at all their social gatherings and their family gatherings and my group wasn't really like that. I mean they were. You know their kids were going to be probably going off to a lot of state universities and surrounding public schools and they just didn't need everything.
Speaker 2:In my own family, my first daughter was a great future star. As client my second daughter, I would have been frustrated had I paid someone the money that someone pays me to work with her, because it just engaged to the end and it wasn't that complicated a process for her. And so that's when I said this could really work out, that you know, have that model that's there to serve them, but the challenge against hiring people and so the online model allowed me, of course, have no overhead for them and to be able to have counselors all over the country, and so that's how that was born, yeah.
Speaker 1:Awesome. Yeah, so were the students you're working with across the country, or were?
Speaker 2:they local? Was that the? Yeah, they were. They still were mostly local. There were some that would hear about me from elsewhere and normally I would say we work with Sacramento kids, you know, and also just for people that know me because they're going to grow up back East. So all of a sudden I was hearing from you know my high school friends and stuff, and I said, well, you can hire these folks. And so that was. But yeah, I was still mostly Sacramento.
Speaker 1:Yeah, ok, cool, totally different topic. You had mentioned that you did start marketing your business once you took on employees. Can you talk a little bit about your marketing strategy? I know you and I have had conversations about this. I would love for you to share.
Speaker 2:Right, you know, again, try to everything pretty much except for doing TV or radio commercials, which we even thought about at one point. But spoke to someone in the business that had gone down that path and, as I suspected, it didn't actually generate anything. But you know, brooke, you know it's the getting out and speaking was definitely a big part of it. So a great source for me was going to the private middle schools and, you know, and that's where I got a lot of clients from, and sometimes they weren't looking for someone to come in and present, but other times, you know, and so I have one school now I presented every year. That's been a big feeder.
Speaker 2:And so the college nights, doing the coffee talks, you know, did a little bit of that, going into people's living rooms, national charity presentations, so the little suspects, and I never did the whole set up of the library thing, you know, because I just felt like a lot of times I think that's more of a service than it is marketing and I was doing my service elsewhere, right, yeah, you know, and then paid to have a nice website built. You know, didn't do it on my own, and so that was sharp and worked with a designer to have really nice hand out materials and, you know, just really brought the image of the business up, was a big part of it. And then when I really had those you know those employees coming on and I needed to fill them up, then I put a referral fee in place and I've always done a sibling discount, by the way. I'm just feeling that's a good thing to do. Those people are going to, they're going to work me a lot less the second time. They did the first time so they deserve a little money.
Speaker 2:But yeah, so I, you know I did a. It was a sizeable. You know it was a direct referral where the family connected us with the family and they signed up that I would send out a $400 check to the family that referred. Or if they were on our payment plan, I would just knock off a couple of payments. And if it was a passive referral it was $200,. You know where someone says someone's told me about you and some families really leaned into that. I mean I knew their parents are almost like we want to try and pay off a good chunk of what we paid you by having you pay us back.
Speaker 1:It's a good time to borrow. That's genius, I love it. I mean, $400 is. I mean, that's a significant amount of money, obviously, so I can imagine that that was successful.
Speaker 2:Yeah, I was talking to a friend of mine who's a big marketing guy and it was even two years before that I said do a referral, do a pick. He's like, you know, no one's motivated by a Starbucks cup of coffee. It's a thank you. Then, you know, and that's nice, but it's not an incentive. So, yeah, yes, and I just right now I just raised my fees to kind of absorb it. So it, you know, I mean, and that, so it really wasn't anything off the bottom line and it helped feed the top.
Speaker 1:Yes, I love it. Well, and thanks to you, we did implement that same strategy in January, although we're doing $100 gift cards and that seems to work, I mean, parents are pretty excited about it, so yeah, and we have some moms who it's like I think it's almost a game for them we have gamified their referrals.
Speaker 2:Yes, that's so true. I mean, they really they do get into it, which is interesting.
Speaker 1:Yes, I love it If you could go back and change any point of your business, like growth or trajectory or path. Would you do anything differently today?
Speaker 2:I think that I would have been less hesitant. I mean, you know, in that taking on that first employee and it took a while for me to convince myself I could find someone, and it's almost a little egotistical, but like, how are they going to do? Is good job, as I do right.
Speaker 1:Well, you were doing amazing things. So let's I mean let's give credit where credit is due.
Speaker 2:Not everyone can do that, right? Who's going to be crazy enough to do everything, right, yeah, but you know, just just moving quicker, I would say. I think also raising my fees sooner. When I look back, yeah, it was also to my perspective.
Speaker 2:I didn't realize what the wallet years were like, because I hadn't gone through them, and so the amount of money you spend on your teenagers, and it becomes normal and you're also in a different position financially, you know, at 45 to 15 in the year, or 30 to 35. And it just, and so I held back on that and that was something that I definitely and what it? What raising the fees eventually does, is it what I didn't realize would be? Kind of a flywheel effect is so now you have less, I was able to reduce my client load and build up those areas of expertise that I always knew I needed to work on, but I just didn't have the time to fully invest in, and then it warranted the fee raise and then you, then you started getting, you know, people talking even more about you and then you're able to raise it even more, and so, but that that would be like one of the things for sure I would say.
Speaker 1:Yes, I'm so glad you brought that up because that's such a great point, and actually on a previous episode with Hanna Stotland, we talked a lot about charging what you're worth, and I think that that is such a good point and something that I have to remind myself of. I mean, we haven't raised our prices, I think in five years. I mean completely ridiculous, and I know that it's time. But I think you bring up a good point that I've been thinking a lot about is the amount that you bring up your price. Like, if you do the math, it's okay. If you lose a percentage of those clients who would have signed on at a lower price point, you're going to make that back, and the parents who do right, and then, like you said, you also have more time. So, even thinking about my own team's capacity, like it could possibly give us more flexibility and leeway so team members can focus on other things.
Speaker 2:So, yeah, it is true, and when I did the big hike because I went from, it might have been like $1,800. I mean, it was maybe like a 40% increase, I think. At the time I also instituted a payment plan and so to help soften it, you know, and so I had to work with PayPal and they're able to do recurring payments and it's pretty easy, and so I set it up, so I sent people a payment full because there was a little bit of a discount for that and I just the hard part I always have a you. My tube record is I know the families I work with that wouldn't have been able to hire me. I was like I just know that those families, they wouldn't have been able to hire me if I was charging what I want to charge. Or, honestly, when you're turning away so much business, at what point are you being unethical and taking advantage of the more demand and there is supply by charging some outrageous rate, exactly?
Speaker 1:Yeah, totally get that conundrum. Yeah, yes. Now let's talk a little bit about where Future Stars is right now and what your future plans are.
Speaker 2:Okay. So this has been an exciting last couple of years. So, like I said, I was up and humming. I had three counselors working and they were getting filled with juniors and sophomores and even starting to take on freshmen, and so it's great having people work for you, but at the same time the shoe can always drop and they can come in and say you know what I'm done, here's my two weeks notice. And how do you absorb that client load Again, especially once you're beyond where they're just taking on seniors? And that happens. And so I had one of my longtime counselors come and she was great. She said I'm going to finish up my seniors and but I'm going to need to hand off the underclassmen. And so we had the three of us had to absorb her clients, and it was a step back financially because now we were all of a sudden much more full and we had to stop taking it.
Speaker 2:So it was a time where I really had to make a decision and, after a lot of soul searching and where am I going to find somebody else? Do I want to sell the business I was thinking about? At one point it just struck me, and I have to give my wife credit for this. We were just out on the deck one night just going over this and she said why not just not hire anybody and go back to being just you? And it was within 10 minutes. We, like it was like the whole plan. I said, yeah, that's right, I'll do this, I'll do that, I'll work them out.
Speaker 2:And so that's what I spent the last two years doing. And so I went to the counselor, who was also was still a part time guidance counselor, and they said listen, this is what I'm planning. And she said I'm glad to hear that, because I just got a job as a principal now and I was going to come to you soon about phasing out. She said, okay, I will go ahead and take care of that. And then there was so she said she'd work through her kids and then phase out. And then I went to the other gentleman Now he's much younger. This was his full time job. This is really what he was looking at career wise, and I proposed to him that what I would do is go ahead and help him set up his own practice.
Speaker 1:I love that, Scott. That's amazing.
Speaker 2:It was great. He thought about it over the weekend. He came back. He said yeah, I think and I had already done all the numbers for him. I said this is and you're going to transition out with me, so you're going to be paid a salary while you build up your practice, because you'll finish with your clients. I'm going to send you all the referrals, because who else do I trust but someone that I've trained up and he's very ethical. He's a great guy. He ended up. Now he has an office which is a couple of blocks away from mine. I just went and saw it the other day for the first time. It's beautiful.
Speaker 1:That's so cool, oh my goodness. Scott, that is why I look up to you as a leader in this industry. That is amazing Really. To help him get into business for himself. Not everyone would do that, so amazing yeah.
Speaker 2:I appreciate that and I was also self-serving to 3-2, because now what I have is now key takes on that business and I get a percentage of that what? It's a fair number. And when he was because he was working with his own clients in my office for a while because he was taking on underclassmen and was a little higher percentage. Now he's on his own, it's less and he's happy. And now he's expanded. He just hired his first counselor and so Cool, it is cool. It is really neat. It's fun to watch. Yeah, we'll see how the L&A goes on the floor. Yes, I'm probably going to be done with the online business too. I'm just working that out because he's also taking on the seniors. Oh good, it's just easier. Honestly, there's somebody else who will work. I moved out of the big space. I moved just to your business park away, so my clients are still coming to the same area and I'm in an executive suite. I love it. The overhead is so much less and I don't have electric and gas and internet and all that. It's nice.
Speaker 1:Love it, wow. Thank you for sharing that, scott.
Speaker 2:Oh yeah, as far as the exit plan, then this has teed that up when needed. I no longer have to unravel the business and I could see myself in a few years going to virtual. That makes sense. We're empty nesters and now my wife and I are excited. We're like I could counsel from anywhere, Exactly.
Speaker 1:Yes, I love that. I love that. Thank you for sharing your story. Any last words of advice for new consultants getting into the business?
Speaker 2:I know yeah, I mean, I think, a couple of things Be honest with yourself about what your blind spots or your weaknesses are and do everything you can to shore those up. Great advice, Whether it's your essay writing or it's college knowledge and how you do that get out there. Physical schools, conferences, networking, stuff that I'm sure has been mentioned many times on the podcast, I think. Also not to get caught up in the special of the day, and especially when you go to the conference and stuff. It's great, but there's so many people, so many great ideas and things they're doing.
Speaker 2:I remember the crash 08, and it was financial aid. There was a lot of people that were financial advisors, that were getting into the business. I kept asking myself am I missing some piece here? Are my clients not being served? They're finally came to their conclusion my families are not going to get financial aid and they're not close enough where remortgaging their house is going to make a difference. I spent a lot of mental energy on that. Yes, exactly, Decide who it is you want to serve and stick to that core. I dabbled in college tours test prep, career counselor at one point. Those were great, but in the end they were pretty much distractions from the core business.
Speaker 2:I would also say it's hard when you're beginning because you do feel like I got to take on everybody. But especially once you get to the point where you maybe don't feel that way is really start to decide who you want to serve and set up your marketing and your messaging to grab those people. I went through an exercise with a messaging consultant a couple of years ago and really came down to I don't want to work with people that are obsessed with the myth of prestige. Half of my initial consult is telling people that I'll tell them I have nothing against prestigious schools. We send schools, kids to, all the ones that will impress you. But I'm not going to work with someone who's going to take that approach because it's unhelpful. I'm going to explain why and back it up with statistics and studies and all of that. That's what I would also say Decide who it is that works for you and then work for them.
Speaker 1:Oh my goodness, Great advice, scott. Thank you so much. I completely agree, especially to your point about chasing the shiny object. It's so easy as a business owner to feel like you're missing something or you need to add this, or you have one prospective client ask about something and you're like, well, I should probably know that or add that to my service, especially, like you said, when you're first starting out, because you feel the pressure to take on anyone and everyone. So great advice, scott. Thank you so much for your time today. So fun to hear your story.
Speaker 2:Great book.
Speaker 1:I hope you enjoyed this episode as much as I did. If you did enjoy it, please leave a review on Apple Podcasts or Spotify, or share it with a friend in the college consulting industry. I'll see you next week on our new episode. In the meantime, take care.