10 Millionaires Asked Me How to Get Richer

Summary

In this engaging discussion, 10 business owners with annual revenues between $1 million and $10 million share their challenges in scaling their businesses. Key issues highlighted include marketing, lead quality, sales processes, and the need for strategic hires to drive growth. The conversation delves into strategies for optimizing advertising, enhancing sales training, and leveraging social media for better customer engagement.

Takeaways

• 📈 Scaling a business often involves addressing marketing challenges, such as creating enough ads and targeting the right audience for LinkedIn campaigns.
• 🔍 The importance of calculating and understanding key business metrics like Lifetime Value (LTV) and Customer Acquisition Cost (CAC) cannot be overstated for making informed business decisions.
• 💡 A diagnostic sales approach can be effective, where the sales process starts with understanding the customer's needs and goals before offering tailored solutions.
• 💰 The strategy of offering different timelines and pricing packages for services can cater to various customer needs and budgets.
• 🤔 The challenge of maintaining profitability while scaling ad spend is a common issue; it requires careful management and potentially diversifying ad platforms.
• 🛠️ Sales training is critical and should involve role-playing and immediate corrective feedback to improve salespeople's performance.
• 📉 A drop in sales can sometimes be attributed to internal changes, such as the departure of key sales personnel, necessitating a reevaluation of the sales structure.
• 💼 The role of a sales director is vital in managing and training the sales team effectively, especially when the business relies heavily on sales.
• 🚀 For businesses looking to expand, identifying and addressing the primary constraints, whether they be sales, marketing, or operational, is essential for growth.
• 🏆 A focus on community building and brand differentiation can be a powerful strategy, especially when combined with a strong product offering.
• 📊 The need for a clear division of roles within a business, particularly among co-founders, to prevent overlap and ensure accountability.

Q & A

What is the primary issue faced by the business owners in the discussion?

The primary issue faced by the business owners is scaling their businesses, with a focus on marketing challenges, sales processes, lead quality, and the need for more efficient systems or higher value offerings.

What is the significance of LinkedIn in the context of the marketing problem discussed?

LinkedIn is highlighted as a potentially effective platform for scaling advertising campaigns due to its ability to target professionals and high-quality leads, which could address the marketing problem faced by the business owners.

What is the business model that the fitness sales person described?

The fitness sales person described a model where they offer three different timelines (3-month, 6-month, 12-month packages) at varying prices (2K, 3K, 5K), with the 6-month program being the most popular. They also suggested a diagnostic sale approach to sell the goal rather than the program.

What is the strategy suggested for supplement sales in the fitness business?

The strategy suggested for supplement sales is to introduce supplements after the initial program sale, during a nutrition consult, and to use an assumed close method where the salesperson instructs the customer on what supplements to take and when, making the sale almost incidental.

What is the main constraint for the business owner discussing lead quality?

The main constraint for this business owner is the quality of the leads they are receiving, which are mostly from profiles with low salaries. They are considering implementing a qualification process to target higher salaries and more seniority to improve ROI.

What is the sales problem faced by the auto sales business owner?

The auto sales business owner is facing a sales problem due to a lack of a structured sales process and training. The sales team is not following a script, and there is a need for someone who can effectively train and manage the sales team.

What is the business challenge faced by the enterprise web development company?

The enterprise web development company is facing a challenge of over-reliance on two major clients for their revenue. They are looking to diversify their client base and improve their outbound sales efforts.

What is the main concern for the business owner considering building a universe around their brand?

The main concern for this business owner is deciding where to allocate resources, whether to focus on scaling their current clothing business for immediate revenue or investing in building a universe around their brand for potential long-term value.

What is the key advice given to the paid advertising agency owner for cannabis businesses?

The key advice given is to either increase the price they charge for their services significantly or make their service delivery 10 times more efficient to accommodate the need for hiring more people and scaling the business.

What is the strategy suggested for the garage door business owner looking to diversify from a single channel risk?

The suggested strategy includes starting with vendors for PPC and bringing in-house expertise for social media ads, focusing on local advertising to attract organic customers and reduce reliance on a single channel.

Outlines

00:00

📈 Business Growth Challenges and Marketing Strategies

In this segment, business owners discuss obstacles to scaling their companies. A common issue is marketing, specifically the lack of ads and creative content. The speaker shares insights on effective advertising campaigns on LinkedIn and the importance of targeting the right audience. They also mention a shift in their business model and the challenge of accurately measuring customer acquisition costs (LTV). The discussion includes pricing strategies for different service packages and the idea of selling outcomes rather than programs to increase conversion rates. Additionally, there's talk about supplement sales as an additional revenue stream and the importance of a diagnostic sales approach.

05:02

💼 Lead Quality and Sales Team Dynamics

The focus shifts to lead quality and the process of qualifying leads with higher salaries and more seniority to improve ROI. The conversation explores the idea of changing advertising platforms from Meta to LinkedIn or Twitter for better targeting. The speaker emphasizes the importance of not stopping effective ad campaigns but rather supplementing them with new strategies. There's also a discussion about the sales team's performance, the departure of key personnel, and the challenges of maintaining sales numbers. The need for hiring a sales director and the importance of sales training are also highlighted.

10:03

🚗 Sales Training and Automotive Business Growth

This section delves into the specifics of sales training, with the speaker sharing their views on the ineffectiveness of traditional sales training methods. They propose a more hands-on approach involving role-playing and script training to improve sales skills. The conversation also touches on the challenges of scaling an automotive sales business, the importance of having a sales-driven mindset, and the need for clear processes and scripts. The speaker shares personal anecdotes from their experience in the car business and offers advice on sales team management and customer engagement.

15:03

🔑 Hiring Key Personnel for Business Expansion

The discussion centers around the importance of hiring key personnel to drive business growth. The speaker identifies the need for a finance person with discipline to analyze and optimize expenses, potentially doubling the business's margin. They suggest hiring someone with experience in scaling businesses and emphasize the importance of financial management. The conversation also touches on the challenges of managing multiple aspects of a growing business and the need for division of roles to prevent stepping on each other's toes.

20:04

🌐 Digital Marketing and Client Diversification

This segment focuses on the challenges of a digital marketing agency that primarily serves enterprise clients. The speaker discusses the need for diversification of client base to avoid over-reliance on a few large clients. They share their experience of quickly acquiring new clients when necessary and the importance of having a referral system in place. The conversation also covers the division of roles between co-founders, the struggle with managing client work, and the need for clear accountability in business operations.

25:06

🎨 Building a Brand and Community Around Clothing

The speaker discusses their e-commerce business that sells clothing inspired by Jack Skellington and Japanese culture. They highlight the creation of a Discord community of over 14,000 members who share similar interests and are highly converting customers. The speaker's vision includes building a universe around a character named 'Nasca' and potentially creating an anime. The challenge is deciding whether to focus on scaling the clothing business or investing in universe building and character development.

30:08

💼 Business Model and Hiring Challenges in Advertising

The conversation centers around the challenges of a paid advertising agency for the cannabis industry. The speaker discusses the difficulty of scaling the business due to the current business model, which does not allow for the hiring of additional staff. They mention the need to either increase the price of their services or make their service delivery significantly more efficient to generate more profit and create room for growth.

35:09

🛠 Pivoting Business Strategy in Auto Body Shops

The speaker shares their experience of owning four auto body shops and pivoting into the garage door business due to a hailstorm event. They discuss the process of professionalizing the company by implementing SOPs, checklists, and forms. The main issue is the reliance on a single channel of business, primarily home warranty companies, and the desire to diversify by acquiring organic customers through paid leads and marketing efforts.

40:09

📊 Marketing Strategies for Local Business Growth

This segment focuses on the marketing strategies for a local business, specifically discussing the use of SEO, PPC, and social media ads. The speaker advises on the organization of marketing efforts, suggesting starting with vendors for PPC and eventually bringing someone in-house who understands local ads on social media. They also touch on the importance of rebranding and the potential of SEO in local markets.

45:11

📈 Transitioning Services In-House and Pricing Strategies

The speaker discusses the process of transitioning services in-house and the associated consulting fees. They suggest a consulting fee of around 30% of the current service fee after the delivery period ends. The conversation also addresses the challenge of acquiring SQLs for high-value accounts and the strategies for targeting and attracting such clients through content creation and paid advertising.

50:12

🦷 Dental Practice Marketing and Value Proposition

The speaker, a dentist, talks about their practice's reliance on Google ads and internal referrals for patient inflow. They express concerns about the declining quality of leads and their decision to take ownership of their marketing. The discussion includes the idea of building content for a new funnel, focusing on social presence and value building. The speaker also considers raising their prices to reflect the additional value they provide, such as long-term patient success stories.

Keywords

💡Scaling

Scaling refers to the process of increasing the size, capacity, or scope of a business. In the video's context, business owners discuss the challenges they face in scaling their companies. For instance, one business owner mentions needing to scale advertising campaigns to grow their business.

💡Marketing Problem

A marketing problem is an issue that hinders a company's ability to promote its products or services effectively. In the script, a business owner identifies a marketing problem as a barrier to growth, specifically mentioning the lack of ads and creative content as their main concerns.

💡Lead Quality

Lead quality refers to the desirability of potential customers in terms of their likelihood to convert into actual customers. A business owner in the video discusses the issue of getting many leads but with low salaries, which indicates a problem with lead quality affecting their business growth.

💡Sales Process

The sales process is the series of steps that a company follows to sell its products or services. The script mentions the need for a more effective sales process, including the idea of having a sales director to oversee and improve this process.

💡Customer Acquisition Cost (CAC)

CAC is the cost associated with convincing a customer to buy a product/service. The script touches on the importance of understanding CAC, as it is a critical metric in evaluating the efficiency of marketing and sales strategies.

💡Lifetime Value (LTV)

LTV represents the total worth of a customer to a company over the entire duration of their relationship. The script discusses the potential to improve LTV by extending maintenance periods and selling additional products like supplements.

💡Diagnostic Sale

A diagnostic sale is a sales approach where the salesperson first identifies the customer's needs or problems before offering a solution. The script mentions this as a strategy to sell the goal rather than the program, which can lead to higher conversion rates.

💡Advertising Campaigns

Advertising campaigns are organized efforts to promote products, services, or ideas. In the video, business owners discuss the challenges of scaling these campaigns, indicating the complexity and cost associated with effective advertising.

💡Supplement Sales

Supplement sales refer to the business of selling nutritional or dietary supplements. The script suggests adding supplement sales as a way to increase revenue, as it can provide an additional 50% profit with zero delivery costs.

💡Affiliate Marketing

Affiliate marketing is a performance-based marketing strategy where businesses reward affiliates for each customer brought in by the affiliate's marketing efforts. The script mentions the potential of affiliate marketing for supplement sales to increase profits.

💡Sales Training

Sales training involves teaching sales representatives the skills and strategies needed to sell products or services effectively. The script discusses the importance of sales training and the methods used to improve sales performance, such as role-playing and script adherence.

💡Revenue

Revenue is the income generated from the sale of goods or services. The script mentions revenue in the context of business growth, with one owner discussing the need to increase revenue by improving sales and marketing efforts.

💡Outbound Sales

Outbound sales involve proactively reaching out to potential customers to sell products or services. The script discusses the challenges of outbound sales, particularly when trying to expand the customer base beyond inbound leads.

💡Paid Advertising

Paid advertising is a marketing strategy where a company pays to have its content displayed to an audience. The script mentions paid advertising as a potential solution to increase lead generation and business growth.

💡Community Building

Community building involves creating an environment where people with shared interests can connect and engage. The script discusses the creation of a Discord community for a clothing brand as a way to foster customer loyalty and drive sales.

💡Content Creation

Content creation is the process of making and sharing original content, such as videos, blogs, or social media posts. The script mentions content creation as a strategy to build a brand's social presence and provide value to potential customers.

💡Pricing Strategy

A pricing strategy is a method of determining the price at which a product or service is sold. The script discusses the idea of raising prices as a way to increase revenue and profit, emphasizing the importance of aligning price with the value provided.

💡Referrals

Referrals are a marketing strategy where existing customers recommend a business to new potential customers. The script mentions referrals as a significant source of patient inflow for a dental practice, highlighting the power of word-of-mouth marketing.

💡Google Ads

Google Ads is an online advertising service where advertisers pay to display brief advertisements, service offerings, product listings, and video content within the Google ad network. The script discusses the use of Google Ads for driving business growth and the importance of optimizing ad campaigns for better lead quality.

Highlights

Business owners facing marketing challenges and the importance of scaling advertising campaigns.

Utilizing LinkedIn for targeted advertising to professionals with high-quality leads.

The impact of a revamped business model on customer lifetime value (LTV) calculations.

Different pricing packages for programs based on varying timelines.

The effectiveness of diagnostic sales in converting potential customers.

The strategy of selling the end goal rather than just the program.

The potential of supplement sales to increase revenue in fitness businesses.

The challenge of remaining profitable with increased ad spend.

The importance of sales team training and the role of the sales director.

The issue of lead quality affecting business growth and strategies to address it.

The potential benefits of advertising on LinkedIn for executive targeting.

The dilemma of resource allocation between scaling existing business or developing new opportunities.

The role of branding and social media in accelerating business growth.

The importance of hiring the right financial personnel to optimize business operations.

The challenges of scaling a digital marketing agency with enterprise clients.

The need for clear division of roles in a partnership to avoid stepping on each other's toes.

The strategy of building a community around a brand to enhance customer loyalty.

The potential of creating an original IP and universe to generate long-term value.

The importance of aligning business activities with the company's growth objectives.

Transcripts

I'm here with 10 business owners doing

between1 million and $10 million per

year and we're talking about the things

that are holding them back to scale

their companies enjoy what are your

biggest issues right now with growing

your business two I think it's a

marketing problem for us okay not enough

ads not enough creative I think the my

eyes have been opened to what it

actually takes to scale advertising

campaigns basically we have scaled our

entire um program on single I lead for

ads on LinkedIn that's Linkin Linkin

iing sing professionals tarting we can

Target it really well the leag quality

is amazing okay what's

LTB uh so this has been slightly

miscalculated because we completely

revamped our business in the last 1

months from what I could GA it was about

3.7 and but that's not capturing the

people who are actually staying longer

at the moment so I think it's slightly

high but conservatively 3.

so yeah okay yeah got it so um what are

you charging uh so we have one program

but there's three timelines three

packages a 3 month 6 month 12 month 2K

3K

5K okay 2K 3K

5K got it why do you have uh if it's one

thing with just different timelines do

you just start high and then work your

way down is that all no I just present

three options depending on the pass okay

um what's the most common

goal um probably losing 30s a six month

program is definitely the most popular

by yeah so um I mean this is super

tactical but obviously I've done a lot

of Fitness sales um I would probably

just switch to a diagnostic sale okay so

basically you say it's uh what was the

what was the 12mth price 5K yeah yeah so

I would probably do something like um

129 a week something like that and then

uh just say Okay cool so you're here you

want to get here that's you know you're

you're 200 you want to be 160 it's 40

lbs and so uh that's we lose comfortably

a pound a week and that includes kind of

our Recon period at the end to kind of

like bring you back to maintenance blah

blah blah blah blah um and so that'll

take us 40 weeks and so 40 weeks times

129 boom and that way and the key part

is that as soon as you do that you're

selling the goal rather than selling

programs you'll convert a way higher

percentage of people and then that's

where I I gave my um the whole uh if you

don't hit the goal by that point I'll

keep working with you until you do

provided you XY Z and that murders and

that way because then I translate that

which means that when you buy this

you'll be that way whether it takes this

time or this time you'll get there and

as soon as I said that people like done

here here's the card yeah great so I

would just do that as like Thing Thing

One um but in terms of the LTV so that

that'll probably help LTV a little bit

because you'll um and if you like need

to extend time to make the contract H

just have like longer maintenance

periods huh yeah yeah yeah yeah it's

fine yeah I'll leave it there um do you

do supplement sales do you have an

affiliate thing for supplements we do no

okay I would add that in because you can

usually get another 50% in supplement

sales because people want to get all the

fancy dude ads and there's zero delivery

for you yeah and they want the

recommendation and so like literally you

just hand them the product you make the

split and then you just move on with

your life and don't sell it on the first

package sell it on the second so you do

your diagnostic meet with them 48 hours

later for nutrition consult then try and

sell probably 500 2,000 bucks in

supplements 100% more would you have a

sales person to I no I Ed the same same

guy he's like cool we're going to walk

you through and first half is a

nutrition consult yeah and then the

second half you basically bake in hey I

want you to take this at this time and

you want to do it like in assumed close

which is like I need you to take this

this and this and then you go into their

habit so it's like what do you do in the

morning what do you do in the afternoon

um so you have your coffee in the

morning Force think okay want you put

these three supplements next to your

coffee that we don't forget it okay

where are you going to be going to the

gym okay I want you to put your

pre-workout and your post-workout in

your car we don't forget it okay you're

going to take two scoops of that this

one great by the way do you want to use

the card you have on file for this

awesome I'll have them shipped to your

house sense cool um but yeah this

that'll just make you more money but um

the issue we're talking about is you

growing your business um w't you spend

more money on

ads um we do find we struggle to kind of

uh remain profitable once we start

getting above like 1,500 a day in that

spend so again the was me creating

enough ads yeah that's it yeah so that's

kind of what it came to from the last

couple of days we are we are bringing

the sales team in as well so I I've been

training those guys and that's been a

little bit of a constraint but they're

closing plus 40% yeah so that's not a

you shouldn't be should get ads yeah

yeah that makes sense cool awesome good

all right rock and roll

FR so um my main constraint right now is

the quality of the leads we're getting

getting a lot of leads but there are low

salaries basically profiles and uh we

need so we compensate implementing a R1

R2 Sal process you know like qualifying

P 10 minutes and then you go on this and

so what we are trying to do is to get to

the higher salaries and with more

seniority where the the ROI for our is

better uh so we are thinking about

changing the platform where we spend our

ads we're spending around 10K a month a

bit more uh on meta ads only and maybe

switch to LinkedIn or Twitter or I mean

LinkedIn will for sure murder for what

you're looking for like I mean you're

looking for executives who want Seance

packages or cold Outreach now or what

cold Outreach um cold Outreach I mean I

would I would do link if I had to do

this in order I would one I wouldn't

turn off your meta ads I would yeah I

wouldn't like don't stop a flow like

keep like you're making money with it

right so then just make more money by

doing the other thing on top like don't

stop that um

okay Sor it's my just saying it test

other by all means test other things but

what's the return on this one again I

know you told me less than I can

remember to 3 to one but we talked about

uh just add in the performance piece so

if you added the performance piece and

you were doing 10 to one would you

care that would be fine yeah I I mean I

concur it'll be fine as well well then

it's only me this if if you were getting

10 to one would you spend more on

meta we tried to spend more but then the

the some diminishing returns well of

course there but now you got 10 to one

but then you can get three to one with

10 times a spend yeah we need to more

creative we need to to do more creative

every week okay so I think so we talked

about this last night but I think that

you add in that performance thing would

be like step one and I think that that

takes you from 3K to like 10K or or 12K

right per customer right so that takes

you from 1 to 3 or 3: 1 to 12:1 if you

just made that one change M so the

diminishing return which goes from 3: 1

to 2:1 means you go from 12 to 1 to 9 to

one so you're still killing right so

sure I'll bet your ads could use work

sure you spend 10 grand a month you're

not spending money anyways but um I

would do that first before I even start

another platform okay because you might

just be fine and just need to like tweak

the LTV M okay just do that okay sweet

yeah cool uh biggest concern right now

is sales yeah uh sales manager left

because he was not a good culture fan

[ __ ] an [ __ ] or you an [ __ ]

he's the good guy who knows you who

knows yeah the plot thickens but he left

uh top closer became sales manager

second top closer left went to another

offer so sales went from you know one

point top closer becomes manager yeah a

a song as old as time yeah okay so it's

a really a sales problem right now that

we have and uh Lea was just up there

telling somebody to like hey you need to

go back into sales I just don't have the

expertise in sales so my solution is to

hire a sales director on top of the

sales

manager h i mean you did wholesaling for

a long time like you know what to sell y

you also believe in the product well how

many how many deals are you doing in a

month right now so we were doing around

70 now we're doing around 40 okay yeah

that'd be tough for you to take go the

calls but you're saying you don't have

the expertise to be a sales director

basically I mean I'm pretty much doing

it I mean you're doing it now right yeah

I'm doing it now it's just like do I

let yeah how deep do I get into it or do

I find somebody else who has cuz all the

other departments I have a director who

so is lead flow the same and you went

from closing 70 to closing 40 right

right and it's really now the remaining

team is closing the same percentage and

just the two best guys left Yes except

now that this sales manager this top

coach became sales manager it's almost

like a respect thing like he's not a

very good coach in my opinion of course

not he's the best clacher is a killer

yeah and so that's kind of what the

issue is and then those the current you

have 100 trying to farm yeah yeah trying

to develop people just wants to kill

people um yeah it's like also like they

were all as competition like a week ago

and now he's like now I'm G to help you

[ __ ] you um is he still on the phones

the director yeah right so um one I'm

sure she probably told you like don't

promote the sales director uh the sales

guy when you did say it were you like

are we going to try this

out uh I said there's so the last sales

manager was paying him under the table

to do like call reviews do this thing

that so then I was like well why the

[ __ ] am I paying this guy when you're

doing all the work and then he became

sales manager and now it's

yeah I'm so weirded out by this whole

thing um okay but he was so he was

closing and doing the stuff and he was

closing great and now that he's no

longer closing he's doing he's just

dedicated he was just doing calls right

bad okay so so just reviewing their

calls with them yes okay so um

all right so I'll I'll walk through it

okay so I'm going to give you like Sales

Training 101 on this but um I honestly

just think everyone sucks at sales

training so I don't think it's a a you

thing or anything like that I think

literally like 95% of compan have no

idea how to train sales and they just

hire sales people and hope for the best

and then they just like talk at them and

hope that they get better but have zero

measurable Improvement to show that they

can actually take someone and make them

better um so anyways that's like a a

side side rant on that but

um people get better at sales by

watching a ton of game tape of people

who sell well one by modeling just like

children learn anything and then two by

corrective very immediate role playing

like when this happens what do you say

and so they say great say it again like

this try again awesome keep going try it

again great one more time again and

that's it and you just really drill one

aspect of the script until they breathe

it and they're like I get it I get it I

get it I know like and then you're like

great now we will work on the second

part of the script and you just work

your way down until they like they

breathe it and think it and they can't

do anything but that that way they can

actually listen on the call because

they're not thinking about what they're

going to say

next and so you need somebody who like

really really loves salese and like

wants to teach and invest in people

which is not usually the personality of

a sales killer every once in a while

you'll have an absolute Savage but it's

usually not that person it's like the

salesman who's like like a killer killer

is not that guy and those guys usually

crush on sales there's a different type

of closer who's like really attentive

and like very caring and those guys can

also kill and those sometimes are the

ones who can become really good sales

managers but it's a different

Persona like Jacob if you met Jacob oh

there you

go right like he closes exceptionally

well um when he was at gym launch and

like he worked his way up from the call

Floor to the setting team to the closing

team beat all grown ass men and he was

selling to 42y old gym

owners like male gym owners um and then

was able to train because it was like I

just want to help the guys out you know

like I understand what we're struggling

with like let's just work on this and

it's more about like I just want to win

it whatever I do not because I am a

psychopath which the one like you know

who I'm talking about like the butch The

Butcher of blavin um like we've all had

those guys so your problem sales

lead flow is the

same so should you hire or should you

get in is the question

correct I think you should get

in you have a sales driven business

you're the CEO you should know how it

works you're going to keep running this

issue and whoever runs sales is going to

have leverage over you until you know

how to do

it like if if a sales director you a

sales record can be

like no one can run this team like me if

you don't double my pay I'm leaving I'd

be

like like I can name 10 people like in

this building who can do it better than

you CU trained all of them you know what

I mean and so um what what happens so

what happens from the team you had and

then I'll go to Jacob

um is you basically brought as many

people as you could in Saw who could

sell and then just let them themselves

that's how most people do it nothing

wrong with that what happens though is

that there's no process and so so

basically it's just whatever way you

know how to sell sell it creates

difficulty on the Cs side because

everyone kind of promises a little bit

differently some people sell hot they

over promise blah blah blah blah blah

and so even if you do try and train no

one's following the script to begin with

so the training is irrelevant and so

basically like step one if you have to

turn around a sales team is like

everyone followed the script the script

becomes it's like the script becomes the

Bible it's like if this is word of God

now that means that if you follow the

script perfectly and they don't close

you crushed it because if I get every

following the script now we can tweak

the script because that actually changes

how everyone says it that make sense

yeah so otherwise if no one says a

script to begin with why do we even

bother having a script gotcha and so do

you think it's going to be more on

script script making changing the flow

and process and then training yes and

making the script as simple as humanly

possible okay most times when we look at

a script we cut half of it got it is it

me taking sales calls I think it would I

think it would help you to better

iterate the script to that teach it

cool you'll bet I'll bet you there's

parts of script like we don't even have

to have this I took five calls you're

like I can just skip over this whole

thing why are you here what's the

problem T cool yeah no worries seor Auto

Sales do you auto sales training or you

do Auto Sales Auto Sales okay got it got

it got it do you have a dealership or do

you oh sweet car use yeah oh cool how

long you been in it eight years okay you

like

it I love it actually I I really do um

long story short I've never been in

sales I was never a Salesman I was a

pipe fitter a pipe welder okay I bought

some cars and said how hard can it be

yeah and so I've just kind of been pile

driving through it and um here we sit I

love it um it's a hell eight years it's

awesome from pipe welding to to have you

know I know I saw your your uh your

numbers is great so now I think the bu

key man problems right

[Music]

um sales processes um scripting I talked

to Jacob about that um we don't like I I

can do it but how to teach you how to do

it like that's I don't know you know

like it's just go talk to him like I

don't you know um so I think coming up

with that plan

um the advertising piece um we've been

branding

for a long time probably wrong I think

I'm really kind of like me

too like radio we've been doing a lot of

radio and it's actually worked I feel

like but I I think digging into the

Social Media stuff would kind of

accelerate it um and I

talked I don't know the CEO gu the um I

don't remember I talked to him I've got

commercial Vans um

so I got kind of two three four five

facets of my business that we can do

Comm like I have access to like massive

amounts of commercial Vans um and so I'm

thinking I'm going to do like a

specialized push on that and see how

that does because my margins in the Vans

you know what I can sell a typical car

for there's $2,000 of margin uh this van

I can make anywhere from 6 to 12 wow um

so

why not sell $6 to 12,000 deals instead

of $102,000 deals preaching to me man

yeah so I think he said you know throw

throw money at it test that and but

because he said maybe you don't have the

market to sell 30 Vans a month in this

in that local market yeah I mean if it's

a profitable line then yeah line of

business um so I think really it's just

ironing out like from top to bottom

obviously we need more money like I to

fill my position I haven't really taken

any money out I've just like that's why

you keep buying more cars well yeah

we've gone from 15 to 30 to 45 now we

have 100 on the lot yeah awesome plus I

have a full-time service shop uh so I

need to hire a mechan another mechanic

I'm working on a service riter he's got

to learn how to

sell oh I get it the sales you know what

I mean so like the one thing I've

realized with the auto

with three people it's super simple the

minute you try to build like holy [ __ ]

you need a lot of money yeah yeah I mean

I think like you know the how much the

franchises cost for like a BMW franchise

or like they're unbelievable they're

super expensive for you guys know it's

unbelievably expensive uh like I think

was like what 20 30 million something

like that well and then tomorrow they

just show up with a truckload of tools

that you've got to write a check for you

owe us 150 grand for context like that's

almost as much as it cost to start

Bank like but to be fair like there's

the whole financing arm is a part of the

business anyways okay not to get into

the car business too much okay so um

biggest limiter on your business is so

one you you brought up branding you

brought up leads you brought up uh

picking the products s you brought up

sales process so honestly I think you

need

priorities so it's like okay of the ones

that we just went over which is the you

know the biggest problem for the

business what's limiting you the most to

me hearing all that when I hear like six

problems it's people you need help and I

I there was something in the first day

it was like you don't have problems you

just need people to help you yeah and

that I think is but I need to be you're

missing like three smart people right

I'm serious you're missing like three

you need somebody who can run the whole

mechanic division the service department

you need someone who can run that and

you get someone who can run the normal

used car lot and then you can then take

the Excess band with and be like all I'm

going to pursue this van opportunity but

like you can't pursue a new opportunity

where you got another new opport which

is the service business which you're

spinning up you still have to keep the

wheels on pun intended the the main the

core you know the core Cash Cow business

um so I would be looking at uh how much

how much uh are you doing in the

business how much what uh

profit so I didn't bring that number

with it I was looking through it I think

I think I'm around 5 600,000 okay so I

think you can get somebody so one

honestly man I think do you have a good

Finance person who works for

you yeah okay so I'll bet you I'll bet

you right now this it's just me just

talk like shooting from the I'll bet you

could probably get close to doubling

your margin just from somebody who had

some Finance discipline being like let's

look at all of these expenses and just

do that as a regular discipline at the

very basic i' say like you could do that

because you I I almost guarantee you can

find 250,000 a year from your top line

versus your bottom line and if you find

that then you can find the like you can

bring someone in and say find your

salary

like to a good a good controller or a

good CFO you just say like listen I

can't afford you I'm willing to pay you

this you need to find your salary and

cost in the next 90

days and they'll find it and they say

cool I just bought you let's see what

else we can find because I need help

doing this find that carve that guy out

too so you're

talking hiring someone that's going to

like just run the dayto day of the money

I think I mean the perfect hire for you

would be somebody who's taken a business

around that was like 5 to 10 million in

uh in sales not car sales but like

receivables right for the for a

dealership to 25 to 30 and has strong

financial background if you don't have

that then just the operation side would

be helpful the reason I would put the

finance person first is because it's

likely that they'll be able to carve

themselves out and carve out the hole

for the other guy who can then fill that

up the perfect guy would have both in

awesome but if you can't find that guy

then it'd be like I would want somebody

from another car dealership who's been a

little bit bigger who has more Finance

discipline and I'd find somebody who's

grown uh and run like LED uh one of

those

businesses and bring those guys in

because that will free you up because

like you can go get the the van thing

and you'll if you have space you'll pay

for both of those guys well I've so I've

already got 40 bands I meant you'll pay

like you'll make the money with your

free time to cover their salaries yeah

exactly I think you're at the point

right now where you need to you need to

make a bet on trading you need to buy

some time for you back and it's just

that the time that you now need to buy

is more expensive time it's easy to make

the Early Trades because it's like lower

value skill but as you get better you

just have to it's kind of like breaking

into a new territory for ads like people

are like I've never spent more than

$5,000 a day I've never spent more than

$110,000 a day I've never spent more

than 100 Grand a day and it's like you

just they're just like new territories

and the same thing with uh Talent it's

like I've never paid someone 250 Grand a

year I've never paid someone 500 Grand a

year never paid someone a million

dollars a year like they just become

levels that you just get through and

then you find what different levels of

talent look

like and so right now I think you just

have never paid someone what you're

going to have to pay this person who's

not a

salesperson so I have I have like a

sales slash finding it like we kind of

do our own deals here I'm only going to

move on to this one cuz I got 60 and I

want to hit to everybody but no you're

but hopefully that that gives you at

least some direction okay cool Miki

let's rock uh sales pretty much so last

year we've been steadily putting like

20% growth last year what do it

about about we build websites so Weise

websites for Enterprise client so like

Enterprise okay so we deal with digital

media to start with but mostly marketing

how big is

Enterprise has to be on like th000

employees it's like has to be million

pay view per day or higher that kind of

it's a traffic so like it's like it has

to be custom build everything's custom

build there's a lot of innovation there

like some banking companies marketing

it's like super cool how'd you get it I

mean well we don't have time for that

but like very interesting okay so you've

got this I yeah I totally want to hear

the story but we well not so what's what

do you want to do why like what what do

we need to do to grow your company so

last year new your clients I but within

clients they add projects and expand

that want more people there so like

those we've been doing but also we have

two big Wells so we have two big

companies that are like 90% of our

revenues so like we wanted to not do

that cuz we had that experience I think

year two one leaves and you're like yeah

we we had that happen cuz like one of

our client got merged by division or

some some other companies and then they

kind of decided not to use us but we

quickly got another wh which was good

but we've been kind of having try to

what did you do when you had to quickly

get another whale well we're very refal

yeah we like we literally like s s s s

Sal then like both of both of and then

you're like okay now I've made enough

money again so now I don't need to do

sal sal sal sal yeah and also like we

both of our own both owners are still

very Hands-On so we do a lot of client

work so if the C you say both owners you

mean you and and the 50% own okay you

said the owner of acquisition. comre um

so co- Founders and then he and I we had

a third partner but we have to buy him

up and all those stories um after that

so we when there's a client war that

always takes president so like some of

the things that we split it out so he's

doing sales and um and financial and I

take care of marketing and um HR and

other operations are kind of shared

including account management so when

there's a client work that gets busy

like one of us gets busy so one depart

or whatever the operation kind of gets

behind so that always happens it's been

our struggle to then we try to hire some

people but I didn't know too much about

other departments so like this hiring

didn't really work out I think I kind of

mentioned that too you need division of

roles between you and the co-founder and

then you need to not step over each

other's like territory and no one owns

new businesses just why you don't have

new business that's actually my question

cuz because his client got really busy

so he's on sales so I felt like sales

I'm like I can help but normally we

really separate it out cuz we figured it

out that accountability actually work

better if you split it out the divisions

so it worked out good but last year for

some well and by divisions you mean you

have one client he has the other client

so oh no no no not that so like ex sales

is him so like I wasn't really touching

the sales part and by sales you mean

like internal sales like trying to

upsell them and just get them to buy

more [ __ ] from you no outbound sales

actually outbound sales but you're not

getting any customers from that so far

got it yeah so outbound is not it's

pretty D up so inbound like is that I

don't know the the sales time to

actually figure out inbound is like

someone reaches out to you outbound you

reach out to them first that's all yeah

yeah so inbound has been fine but like

outbound hasn't been so like we because

we didn't want the two Wells we wanted

to do more outbound sale but that hasn't

been successful all last year and we're

hearing that cuz he's a part of like a

mastermind for agencies that last year

was pretty bad but I think the it's kind

of like a [ __ ] know excuse that

there should be some way to figure out

we can get new clients there is a way to

get new clients I promise but I wanted

to figure out like well so I don't think

it's all his fault but like how can I

convincingly put a measure that we can

kind of like make sure this is

done so like and it's also we're both

owners and like we have a we both are

very responsible but at the same time do

we need to have some sort of measure

that we always kind of make sure that

hey we so have to be first I mean this

is how Partnerships work yeah and so

that's also why division of roles is

important and so if you're like I will

take over 100% of delivery if you go get

us customers and then if you don't get

us customers then one of us isn't

necessary and so I'm just be like really

real this is me just reading between the

lines from what you're saying

um honestly I just think like when you

needed to go get a new client and get

good a new whale you got a new whale

fairly quickly it sounds like which

means that if you need to go get

business you know exactly what to do go

get business you just aren't doing that

right right and so the question is why

and it means that one of you is

satisfied with the lot of income and the

amount of work that they have right now

which I say is fine if you both agree on

that but if one of you doesn't agree on

that then you have conflict and so that

conflict turns into direct conflict or

it turns into when becoming resentful

and so I'd prefer it if you just if you

or the person whoever just say like we

like the way that I'll explain something

that might be helpful for everybody it

really helped me out a lot so you guys

know the difference between an insult

and

criticism help me a ton so an insult is

an attack on someone's character right

you suck you are an idiot whatever a

criticism is you said this you did this

these are not the same right it's a

discrepancy between stated and reality

it's all it do so you said you would hit

this skull this is reality there's a

difference so this is criticism and

here's some things we can do to make

that up and ideally next time you say

this and that's what happened awesome

right and so it's not a attack it's a

statement of fact it's an observation of

reality and so being able to explain

that be like you are responsible for

sales we have no

sales this Gap is the problem that we

have right now now if we did not want to

grow this company and we both were align

with that that then we would have no

problem but I do want to grow this

company you are not currently doing the

activities that would grow this company

so what do we do either you change what

you do or I stop being

here just being really real so you

presented with a sales problem but I

think you have a hard conversation with

a co-founder to have being really honest

we had the conversation so we

actually having we did a new partnership

you have a what sorry we we started a

new partners ship you started a new

partnership no no no the partnership

with a like a hosting provider company

so like they're actually bringing more

Le to so we're we're development agency

so like so like they're not like the

competitors but we kind of went back to

cuz we were used to work together so

that actually bring in some outbounds so

now we're getting that but his well yeah

so I'll probably have like another

conversation go back to like have the

conversation and then I promise you if

you really really have it and the thing

is don't pull the punches if you're

going to have the conversation be like

this is what I want you're not doing

that and that's my fault too because I

probably haven't been clear about it but

let me be clear now yeah like and if and

if you don't want to do that fine let's

figure out a way that we can just work

on separate things CU I want to keep

growing cool I think you do that the

sales problem solve itself Alexander D

very interesting business so tell me

about it what's the problem why are we

growing so it's a eom business so we

sell clothing um and the clo is inspired

by like Jack Ste so uh at the started I

had a when I created the business I had

a big vision for it like I wanted to be

something more than just a clothing

brand um so what I realized is like a

lot of people who shot who shop with us

would have similar interest so I wanted

to create a community around that so I

started uh you know creating a Discord

Community now we have over 14,000

numbers and those people you know

they're fan fans of the brand and uh

they all share similar interest and

they're actually one of our Lop

converting customers like we people were

through launch Mar products yeah yeah um

and so you built a community and about

stuff that they're all interested in

sold them stuff related to that yeah

exactly and so what we what I also

wanted to do is I wanted to create

because they're all enemy fans or

Japanese culture I want to create

something i r though as well so for

example we created a nasca and we we

started putting it on packaging like in

the in their orders and they started

learning more oh who is this character

yeah and my goal was sort of like I want

to like expand her and create a whole

universe around her and then create

eventually create like our own anime add

as well okay right what's the problem uh

the problem is I'm trying to figure out

what I should put my resources to

whether I should focus on scaling the

clothing and maximizing that that's

what's bringing in the revenue or

focusing on this sort of like Universe

building and creating our own characters

to later on you know create value in

other ways which will tie like FL day

and maybe later on I was thinking like

create an nft project around like the

audience as because all have like

similar interests right yeah so I just

don't know like what want to focus on so

one is like you have the economic engine

in the business which is you sell

clothing with a logo on it I'm just

breaking I'm breaking thing down to like

absolute Basics right so you need to

keep doing that to be able to pay for

the bills to do all the rest of the

stuff now everything you describe with

the universe is as far as I'm concerned

in the micro is going to be basically

media it's it's it's content basically

around this character that allows you to

charge a premium and attract more people

to the brand right and so I don't think

you need to do either or I just need you

need to think about that as marketing

spend and then you need to make sure

that you you you cap it based on return

on investment then provided your goal is

to make

money there I mean that I mean that

super genuinely now the alternative of

this is like I want to go build Disney

and have a zillion characters but like

it it it requires a ton of capital in

order to do that and so in my opinion

what you have been doing has been

working really well and so I would take

if you want to like reinvest Capital

take the profit from there and reinvest

more in that into building out more cool

media for the character that you want uh

to build and the lifestyle that you want

to represent for your audience yeah he

just I know that like down the line it's

this going to be like you know what's

going to create like generational wealth

and I know that's what I want to do this

original Ip yeah but right now like

there's no return on investment for like

I can't see it right just like I'm

putting P money to it but it's going to

pay off like well that's kind like a lot

of times branding works that way like if

I make content for three years and ask

for nothing from people yeah my brain is

going to be worth something and it is

already and I'm like still really early

to it so but I was able to do that

because I had money I could not have

done that if I I mean I could have done

it I would just had to work a lot harder

you know I could not have done other

things Etc so you have an economic

engine which will fund this thing the

thing is is that like you will get a

return because if you if if this works

the way you want it to work it should

grow so if you just pour money into it

and more people don't find out about

your stuff which doesn't then create

more people buying then it's not

working so I think I love the vibe

because I looked at your sty like it's

cool um so like I think more of that is

a good thing and I think that'll just

create more people who are raving fans

in your audience but the thing that like

I get the good thing is that you're a

missionary not a mercenary like you want

to make this thing real and it's awesome

it's cool I want to make sure that it

actually happens in the real world and

not just in your head and so like there

has to be money attached to it somewhere

or you need somebody who really believes

in it a ton and will take their money

and just risk it for you it's either

that either you're going to risk your

own money or someone else is going to

risk it but it's going to cost money and

time to build this and so the nice thing

is what you want to do is have a

symbiotic relation between the character

and the and the media that you're

building and the way that you monetize

and this is ultimately what you're going

to want to do anyways because if the

audience that you build that loves this

character and stuff doesn't want to ever

buy stuff from you then you're not

buding the right behaviors anyways for

it to achieve scale Mickey Mouse has to

sell shirts hats t-shirts

movies right so that's I would also

study the hell out of Walt Disney yeah I

I I looked into it okay yeah I would

read everything that's ever been written

on him um and look at like new age stuff

look at what Gary's doing with um uh V

friends he has a whole universe around

the different characters same concept

but there's Commerce there he's got

cards he's got you know shirts he's got

merch he's got all these other things um

to build up the characters yeah I'm

doing a lot of like Research into nft

projects because like they're able to

provide value through storytelling and

like making value creating value out of

nothing pretty much and to just I just

never say those words again sorry I

would just never say those words

again value no value out of nothing no

yeah um especially tied to nfts um but

yeah does that make sense that's what I

focus so to answer your question yes I

would invest the cash that I have um

as much as you believe because it's it's

a it's a bet it's as much as you believe

in this um but I would make sure that

people are still being more attracted to

your brand and buy more

stuff yeah you

bet how's it going rocking what's up J

[Music]

um I don't even know where to start it's

we'll just ask one question I'll try and

answer that

one when you were

in the process of pivoting with the

model for gym launch and you were trying

to just

like get money together to even make it

to the next thing that's exactly where

I'm at Sweet fun like I have reread and

watched and researched like everything

you've ever done regarding that because

it's just I I feel it

balls because I mean what do you need to

do right

now I need to have people so that it is

not solely me what does our by the way

what do you sell uh it's a paid

advertising agency for cannabis for

cannabis okay got it okay tough yeah but

that on the flip side of it being tough

that's why there's there's so much

leverage with that cool uh okay there's

a ton so what's the issue what's the

problem uh me well yeah sure it's always

you but like what's the what's the

business problem like is it not make is

you're like I need to make all this

money like are you not profitable are

you it is profitable however it's just

not well on long enough for the profit

to just exist in a lump sum enough to be

able to like pay for people because I've

been I actually don't know what that

means well I've been actively doing this

for like four months okay so it's like

I've brought money in okay

but I've never had payroll never done

any of that I've never hired anybody

it's all those soft skills and just have

it and working through the anxiety of

getting through that first higher what's

what's Revenue right

now revenue is

600k okay okay got it

um however

okay that is the literal metric but I

collect ad spend for them so actual

profit would be like 90 900k a year okay

yeah so okay so this will so so you got

to sit in this room um and have some

different different conversations I'm

going to be super direct with you you

don't need to worry about anything you

just said yeah like you have 90k a year

that you have to work with you have no

room to hire people you either need to

fix your model uh because if I'm

guessing you're working all the hours of

the day to make the 90k yeah right which

means the model's broken so you can't

hire more people because you basically

you the most valuable employee in the

business like the founder is always

going to be the most to a person in

business especially day one when there's

no one else so you need to get to a

point where like you should be able to

make way more than what you need so that

you have room to hire other people who

can help you and so right now you don't

have a people problem you have a model

problem which means the way that you're

charging or billing the Cannabis people

you're either offering too much for them

well it's really you're just like you're

offering too much for too little

fundamentally that's what it is cuz

either you need to be working way less

to be making the money you are and be

like shoot I could take 10 times the

customer I just need more customers or

you should be charging way way more for

where you're at and be like okay well

I'm making 10 times more than I am right

now and now I can go afford people

that's it so either you need to do need

to work on how you do delivery to make

it 10 times more efficient or make it so

that how much you make you make 10 times

more per customer for what you're doing

it's by about a factor of 10 like I

think if you came here you're like we're

doing about 900,000 a year and it's just

me I'd be like okay okay cool let's draw

orang on people that makes sense um h i

i get it it just I I I didn't know that

the question was oh you're fine dude no

no no I'm no dude you're good you're

good I'm trying to help you where you're

at you get what I'm saying though forget

about that do you get what I'm saying

yes so you need either 10x the price

that you're charging for what you're

currently doing or make how you deliver

what you're doing 10 times more

efficient understood that's it otherwise

the model was not going to work so

trying to scale what you're currently

doing is a bad idea you need to fix what

you're currently doing so that you can

scale it okay

cool question me k

m he does a lot of buy businesses okay I

you anyways just a quick background so I

own four auto body shops and then I

pivoted into garage

door there's a there's a Hailstone which

I love and he got it I visited pivoted

to garage stores because it's just um

industry highly fragmented right now

there's only maybe two big players that

area I'm in is there not that many cool

and so we started professionalizing the

company I've been installing Sops

checklist forms process yeah

trainual it's really good um but my one

issue is uh we have a weird Niche APPA

moment which we're trying to diversify

heavily away from where we kind of have

a single Channel risk we pretty much

give most of our leer home warranty

companies there are eight of them so

it's not like one you know jail but I

don't like yeah I used to work like Geo

and we would get a body shop and we'd

become 30% 40 50 60 70% and we own them

I don't want that I want just like I'm

buy organic customers coming in paid

leads you all these things and so where

I'm at is I'm at this pivot point where

I'm just about to start Mark you doing

seven are you doing 7 million was it 7

million got 1.5 million cash flow and um

but it does have far money in the debt I

purchase got it anyways the cool thing

is is doing no marketing right now at

all like we have one lead every month

from marketing so we're about to start

this whole SEO PPC maybe Facebook etc

etc so my one question is you know I got

to organize how it's going to happen how

should I organize it should I get a

marketing manager where should I get

them from should I hire them kind of

supervise build that up I teach me so if

I can know because it it'll integrate

with other parts of the business you

know and it's just how do I would you

organize it if you're at my state I

basically get a build it from the ground

up which is kind of cool yeah yeah I'm

trying to think because it's kind of

it's kind of the issue that Anon had

with um like when it's a core function

of the business like I see I see Rin

making as a big part of the business

like customer you have customer

acquisition got delivery as the two you

know and then you got Ops is the Third

Leg of this stol like every business

needs all ra someone to get customers

someone deliver customers and someone to

make sure that no one goes to jail right

and like make sure all three have to

like keep going around right and by that

one I mean talks to people HR Finance

legal all that stuff right

um okay so it's a core function of the I

mean like generating Le now I like the

the fact that you have the eight the

eight different places that you're

getting the the warranty leads from so

that's kind of sweet um I mean I would

just continue to do that as much as I

could get you know go from eight to you

20 or whatever um I don't even know how

many you probably know the number

saturated them there was one of them who

said like oh you're biggest vender along

with pal deep B my I'm a wh to them yeah

right I would would probably if I'm

trying to think about where I would

start I me personally um PPC is is uh

will be harder to crack initially but

then once you have it it's very uh

stable okay and so for local PBC I think

will will work really well um it's a

totally different monster but then

social media ads like meta um

specifically I think will work really

really well the thing with meta ads for

local is I'd want to have someone in

house for that um the PBC guys there's a

bunch of really good agencies for PPC

that can do pretty good work for you on

the local level um who can just probably

handle it pretty well uh but the the

social media side I have yet to see

people who don't do huge companies do a

good job and that's just because you

have to have so much creative like

creative gets tired in local market in

like two to three weeks so you have to

make creative every 21 days like and

like a decent amount of it I mean this

is why we had gym launch like we just we

took all the creative burden over but we

did it for a thousand locations so you'd

have to build that in house so in terms

of like ease and speed I would probably

go vendor first for the

PPC um this is me just saying what would

I do yeah yeah I would probably go

vendor first for PPC um and then I would

and then I would probably I'd try and

bring someone in house who understand

probably a younger guy who understands

um paid ads at a local level and the

nice thing is that there's a gazillion

of them guys who understand local ads on

social media um and uh and give him some

sort of exciting like little mini comp

that he can turn into um and uh because

if if he's relatively techsavvy and

knows how to do social media ads and

whatnot he could become a weapon for

their business um and that could

probably really help you on the

acquisition side because you'll just

like scoop them up put whatever 100

Grand 200 Grand in whatever you buy them

for Lever the rest and then you could

like immediately triple the business and

roll it in just I'm kind of excited

about the SEO portion I know that we're

doing a Rebrand too so have the trucks

wrapped a certain way by company and all

that the SEO would you do that same kind

of go through and agency out loud or a

house see like HC but yeah I mean a PBC

is really simple and so I think and

they're usually pretty well priced

especially for local and when you get a

good guy it's like they just run the

same Playbook they go for the same links

they build the same way and they just

kind of like it works um for

seo seo is more complicated um and it is

very much like the skill of the like

there's I feel like there's more skill

in my opinion for SEO than there is for

PPC um but the nice thing is that local

is easy to win um compared to like

National and so since you're just trying

to win local markets um again I just

whenever I do anything in a new thing I

start with vendors I if you gone through

the agency chapter in the um leads book

have it bought like just showed up on

just literally read that chapter just

read that chapter yeah it's um it just

gives you my playbook for how I crack

every new channel it's really what I do

I buy buy the agency and then I I tell

them I'm going to take over in six

months you help me train the person and

then eventually I won't need

you yeah that's exactly why I bought the

book and I came because I was like when

I think of think yeah I think of

marketing and sales and conversions have

you had offers yet I'm not yet but I

yeah missing out man

going release yeah yeah you could you

could literally both in like there's

one's three hours the other's like four

and a half so you should be good all

right Adam TNT so uh pay ads agency um

Google or meta both okay totally

different monsters yeah but um I like 12

years in experience Google and I saw how

important that it was too so I just

learned that you I those yeah um my

biggest issues are sqls that within mind

zone right and then who do you sell to

primarily company spending over 100k and

that's per month or per year per per

month okay per month got it okay um and

then on top of that like what you just

talked about what other people talk

about is one replace agencies and H

house okay which Cur LC be short unless

you plan for it so if I plann no I said

unless you plan for it yeah yeah and

just bake it into how you do things so

those are my two problems okay so the I

mean the the them trying to bring it in

house I would bring it up front and um I

would have you read that chapter in the

book okay good so so I would say like

cool so what I'm going to do is this is

the first part and then whenever you

want to start bringing this in-house

we'll switch from this to Consulting and

we'll men M the transition period and

we'll stay on a Consulting basis until

you your team is outperforming what we

were doing now if the team never

outperforms what you do then you stay on

a Consulting basis forever but it's

still the nature of the relationship is

fun because like being a service

provider versus being consultant totally

different vibe which I'm sure you've

done before um and so it actually goes

from like subservient to you being a

teacher which is actually kind of fun

and so that'll extend LTV it aligns your

interest blah blah blah so that's good

uh What was the other problem so for the

how do you price living fare

to that done for you um

what's your uh current done for your

pricing typically 10% immediate right

um it's a good

question I mean honestly I just uh I'd

probably end up just saying

like I'll either add in the

Consulting you know what I mean I'll

either add it in to what we're currently

doing because they're going to need the

they're going to need

the the service from you while they're

getting the Consulting mhm and then

basically so the question is after the

Consulting sorry after the delivery

period's over what's the consulting fee

for after the fact yeah that one I mean

I'd probably look at something like I

don't know

30% just as a starting point 30% of what

you were doing so probably like 3% of AD

spend mhm and so then you can just be

like listen the question is can I get

your guy to be you know this much more

efficient if you think the arguments

there great if not no worries so

probably 20 30% is probably where I'd be

okay and then the second part is SQL for

my genius which is over the 100K um I

just see any account take over that's

over 100k I CR in few weeks under 10 a

lot

harder um so I want more SQL that way

right now my entire python is through

Affiliates okay and just referral

partners and cupworth yeah you need you

just need to go get what you want so

it's got to be outbound so either got to

go outbound in terms of like high value

targets uh so like cold call cold DM

whatever um one two you can make content

very niched in terms of what you're

talking about um that'll still get

everyone but you'll also get the good

people um or you just use your own

expertise of running ads and Target

those people so if I had to do these in

order I would probably start with ads

cuz that's your bread and butter and I

would just start a campaign that's

specifically for those people and calls

them out in every single way you can

like targets that way but then the

messaging has to be just super harsh

like if you're not if you're not

spending 100 Grand a month please just

scroll past this ad like don't mess my

pixel

up and probably LinkedIn yeah I think

LinkedIn has a lot of really good

quality

people

yeah Muhammad yes all right well thanks

for this opportunity you bet um little

bit background about me I'm a dentist uh

own my practice for 15 years and I focus

on dental

implants and um the

primary uh patient inflow method has

been Google ads for the past eight years

uh I'd say about half of my patients

come from internal referrals from

friends and family and then the other

half come from Google ads that company

that I've been with for eight years has

had the same landing page for eight

years

and has not gotten any feedback from us

about lead quality or anything and past

year I would say don't you wish you had

him as a customer like I love this right

that's

easy quality's gone down you know it's

just all kind of [ __ ] so last year I

decided you know this is a really

important part of my business I want to

just take ownership of this so I

partnered up with these people who I was

introduced to say Hey you cracked the

Google ads algorithm I'm gonna uh work

on the the coaching and Lead nurturing

and value building aspect of it so we

and that didn't work out this company

didn't know what they were doing so it

all went to [ __ ] so anyways now I'm

working with another company trying to

build um The Funnel the landing page and

what not have not made any content but I

have all the set up to start doing that

uh so I wanted to um build content

specifically for the funnel so when

people click on the ad they have a video

being you know social proof all that

kind of stuff but I also want to build

uh or create content uh just for General

like social presence and and also value

building um so should I focus primarily

on the Google ads first and lean on that

and then start working on the general

content right second question I have for

you is I've been doing what you have

said that everyone does which is survey

the market for what the price is charge

a little bit less offer ton more value

so the ton more value that I'm offering

is a lot of additional procedures that

go along with the service that I'm

providing that help create

predictability in long term and I want

to lean in on that as a differentiating

factor because a lot of the competition

is newer newer chains newer doctors they

don't have the track history and I have

a lot of patients that I've treated 10

12 15 years ago that I want to sort of

highlight and so in that regard should I

continue charging or advertising the

price that I am advertising and just

highlight the more value that I'm

getting to get more more Revenue coming

in first and then try to raise my price

or you know love feedback on how to

position myself in this new funnel this

new my favorite way of doing it would be

just raise your

price okay I mean i' I've told my father

this for the entirety of my life and he

has still never listened to me so you

know maybe maybe it'll work for you he's

like I booked out for N9 years and I'm

like yeah what if you just doubled your

price you could work the same amount you

currently do every day and just make

twice as much money uh and so unless you

have a demand issue or a convers like do

you have a conversion issue right now

like when you get people in do they not

buy um so I don't really have a sales

process a sales system it's all just me

well you do have a sales process you

just haven't documented it right but I

just you know I just talk to them and

let them know hey this is what your

situation is this is how I would handle

I'll bet you if I recorded you and I

played 50 of those side by side second

by second you'd be like oh this is the

part where I make the same amount of

jokes about this thing and then I ask

them why they're here and then I say

what have you thought about before why

now why why ises this to help you out

okay got it okay has there been anything

else no want me to tell you about this

thing I think you might be a good fit

here's what you can expect great do you

have any questions for me blah blah blah

and so you probably do have a process

you just don't write it down now after

you know reading your books and

listening everything now we're we're

working on creating a system and then

educating the team on it so they can

carry the Baton so um that's where I am

and uh you know um raising the price I

certainly can justify it just because

like I said I have you also do it even

if you couldn't justify it just raise it

anyways because you felt like it because

it's Tuesday because who cares you raise

it because you want to it's America and

you can chose charge what you want and

they can choose to say no and you can

choose to say this is all what I'll what

I pay for what I uh what I

charge and so like it's like just in

terms of the idea of like I have to do

this because to do this it's like you

can just do

it like we just bought a company a year

ago and I mean I tell the story because

I like breaking the belief and so we

bought it we did this massive analysis

and I was just like I the whole

leadership team and they're like so

what's the big how are we going to like

grow the hell out of this company I was

like I think I'm just going to double

the price and they were like what else

are we gonna do I was like I think

that's it I think that's all I'm going

to do

and they're like but what about all

these other I was like I don't think

that's I think we're just going to do

that and so we did that and the sales

team was like so would we need to

retrain the sales team I was like no no

I was like you're going to say the same

thing and then the very end when you say

the price I was like instead of saying

this number say this number that's it

and then we did that and um it took me

nine calls with the founder nine uh and

he didn't agree and so we settled on 50%

increase so he increased the price by

50% and close rates went up oh [ __ ]

because they were

mispriced and so we sold a higher

percentage of people add 50% more money

and if you do more times more it's way

more because all that goes to the bottom

line and so uh that's the beautiful

thing with price increases is that it's

all profit one of my favorite ways to

make more Profit just charge more so um

tldr yes I think you you charge more and

in terms of uh the ad stuff uh you're

either going to have to learn this which

feels unlikely or you're going to have

to keep doing this trial and everything

well I am uh learning it myself I

actually have uh started the courses and

gotten into Google ads and Facebook ads

it's again it's not something I'm going

to do myself but I can't delegate until

I have full in-depth knowledge which is

kind of how I built the rest of the

business I like it we have uh the lab

site also on site so it's vertically

integrated we just need to just crank

that engine of of once you get that

going the ultimate version of the

businesses that you start buying other

practices right because then you can

install your systems on top your

reputation Etc and like that's when this

gets a lot more interesting