Closing A $1,400 Rank & Rent Deal After Failing Twice

Summary

The speaker shares his experience with Rank and Rent, a business model he discovered while on paternity leave. Despite initial hesitations on spending on ads, he eventually committed to the process, focusing on the concrete niche. After sending multiple leads to a potential client, he managed to close a deal at $1,400 per month, three times the cost of the client's existing service. The speaker emphasizes the importance of building relationships and demonstrating the value of the service, acknowledging he could have charged more but was satisfied with his first successful deal.

Takeaways

• 👶 The speaker joined Rank and Rent around October, shortly after his son was born, while he was on paternity leave.
• 🔍 He started researching and marketing, eventually finding Nick's group and learning from the free content provided.
• 📈 The speaker was already in a deal before joining Nick's paid group, which indicates the value of the free resources available.
• 💡 Nick's group offers a significant amount of information for free, which helped the speaker to get started in the business.
• 🚫 The speaker initially struggled with the fear of spending money on ads without getting a deal in return.
• 📉 He experimented with different niches, starting with towing, which didn't work out due to the need for high ad spend and volume.
• 🏗️ He then moved to the concrete niche, invested in ads, and committed to making the business work for three months.
• 💡 The speaker realized the importance of letting ads run and following the process without fear of spending money.
• 🤝 He managed to close a deal by sending leads and building a relationship with the business owner, emphasizing the value of his service.
• 🎯 The speaker sold the service for $1,400 a month, which was three times what the client was paying for another service.
• 💰 The client had a misconception about the value of the service, and the speaker could have potentially charged more.
• 🚀 The speaker learned the importance of not getting scared by low offers and continuing the process to prove the value of his service.

Q & A

When did the speaker first get involved with Rank and Rent?

The speaker first got involved with Rank and Rent in October, right after his son was born, while he was on paternity leave.

What was the speaker doing during his paternity leave that led him to Rank and Rent?

During his paternity leave, the speaker was doing flip marketing and researching, which led him to come across Nick and the Rank and Rent group.

How much of Nick's strategies does the speaker mention being available for free?

The speaker mentions that Nick gives out about 98% of his secrets for free.

What was the speaker's initial hesitation in committing to paid advertising for Rank and Rent?

The speaker was initially nervous about spending money on ads, fearing that he might spend $600 and not get a deal, resulting in a loss.

What was the first niche market the speaker attempted with Rank and Rent?

The first niche market the speaker attempted was Towing, which he later realized was not the best choice due to the need for high ad volume.

Why did the speaker decide to stop contributing to his 401k for three months?

The speaker decided to stop contributing to his 401k for three months to invest in Rank and Rent, as he believed it was more lucrative.

How many leads did the speaker send to the business owner before getting a response?

The speaker sent eight leads to the business owner before getting a response and establishing a connection.

What was the business owner's initial reaction when comparing the speaker's service to another he was paying $450 a month for?

The business owner initially felt that the speaker's service could not compete with the $450 a month service he was already using.

How did the speaker address the business owner's concern about the value of his service compared to the cheaper alternatives?

The speaker showed the business owner the value by demonstrating the areas he would cover, emphasizing that the other leads were not in the business owner's area and building a relationship from the start.

What was the final monthly price the speaker sold the service for?

The speaker sold the service for $1,400 a month, which is three times more than what the business owner was paying for his other service.

What advice does the speaker give about dealing with potential clients who try to negotiate on price?

The speaker advises not to get scared and to show the value in what is being offered, emphasizing the importance of building a relationship from the beginning.

Outlines

00:00

🚀 Launching a New Business Deal with Rank and Rent

The speaker details their journey into the Rank and Rent business model, which began around October, coinciding with the birth of their son. While on paternity leave, they explored flip marketing and came across Nick's group, which offers substantial free insights into the business. Despite being in Nick's paid group for less than a week, they managed to line up a deal by dissecting the free information available. The speaker admits to hesitating with ad spending, fearing wasted investment without a guaranteed return. They initially ventured into the towing niche against Nick's advice, due to its high ad volume requirements, but pivoted to concrete after realizing the challenges. Committing to the process, they stopped contributing to their 401k for three months to focus on the business. The first deal was secured after sending multiple leads to a potential client, who was impressed by the personalized approach and the value proposition, leading to a successful deal closure.

05:01

🤝 Overcoming Objections and Securing a Higher-Value Deal

In this paragraph, the speaker reflects on the importance of building relationships from the outset and overcoming price objections. They recount a situation where a potential client initially resisted due to the cost, comparing the speaker's service to a cheaper alternative. However, by demonstrating the value of their service and the quality of leads provided, the speaker managed to secure the client at a rate three times higher than what they were previously paying. The client's success, with a significant increase in revenue, indicated that there was room to potentially upsell the service in the future. The speaker emphasizes the psychological aspects of negotiation, where playing hard to get is a common tactic, but ultimately, persistence and demonstrating the unique value of the service led to a successful outcome.

Keywords

💡Rank and Rent

Rank and Rent refers to a business model where individuals or companies rank websites for specific keywords and then rent out those rankings to clients, typically businesses looking to improve their online visibility. In the video's context, the speaker mentions getting into 'Rank and Rent' after his son was born, which suggests that it's a strategy he adopted to generate income, likely through digital marketing services.

💡Paternity Leave

Paternity leave is a period of time that a father can take off from work following the birth of a child. In the script, the speaker mentions being on paternity leave when he started researching and eventually getting into the 'Rank and Rent' business, indicating that this was a personal period that also coincided with a professional transition.

💡Flip Marketing

Flip marketing typically involves buying a product or service at a low price and then reselling it for a profit. In the video, the speaker was 'doing the flip marketing stuff,' which implies that he was engaged in some form of buying and selling, likely in a digital context, as part of his entrepreneurial activities.

💡Nick

In the transcript, 'Nick' appears to be a figure who shares a significant amount of information for free, which the speaker found valuable. It's suggested that Nick is a knowledgeable person in the field of digital marketing or the 'Rank and Rent' business, and the speaker learned a lot from him, even before joining his paid group.

💡Paid Group

A paid group refers to a community or network where membership requires payment, often providing additional resources, connections, or exclusive content. The speaker mentions joining Nick's paid group, indicating a desire for more in-depth knowledge and potentially better networking opportunities within the 'Rank and Rent' space.

💡City Niche Combos

City niche combos likely refer to specific market segments or areas of focus within a city that are targeted for marketing purposes. The speaker discusses going into 'a couple different city niche combos,' which suggests a strategy of targeting specific local markets within the 'Rank and Rent' business model.

💡Ads

In the context of the video, 'ads' refers to advertising, particularly online advertisements used to generate leads or promote services. The speaker mentions being nervous about spending money on ads and turning them off, which reflects a common concern among marketers about the return on investment for advertising.

💡Towing

Towing is the act of pulling vehicles that have broken down or been involved in accidents to a safer location. In the script, the speaker initially chose the towing niche against Nick's advice, indicating a specific industry they initially targeted within their 'Rank and Rent' strategy before deciding it wasn't the right fit.

💡Concrete

In the transcript, 'concrete' refers to the concrete industry, which the speaker transitioned into after leaving the towing niche. This represents another market segment the speaker explored within their entrepreneurial venture, suggesting a shift in strategy to find a more lucrative or suitable niche.

💡401K

A 401K is a retirement savings plan in the United States. The speaker mentions not putting money into their 401K for three months to focus on making their 'Rank and Rent' business work, illustrating the personal financial commitment and risk taken to pursue this new venture.

💡Leads

Leads in a marketing context refer to potential customers or clients who have shown interest in a product or service. The speaker discusses sending leads to a business owner as part of their 'Rank and Rent' strategy, emphasizing the importance of lead generation and nurturing in closing deals and providing value to clients.

💡Upsell

Upsell refers to the practice of selling a more expensive or higher-grade product or service to a customer who has already shown interest in a lower-grade option. The speaker asks how to upsell and is advised to show the value in what they're offering, indicating a strategy to increase revenue by offering enhanced services to existing clients.

💡Value Proposition

A value proposition is a statement that communicates the unique value a product or service offers to customers. The speaker discusses showing the value in their offering to the business owner, which is crucial for convincing the client to choose their service over competitors, as seen when the speaker shows the city where the client is at and explains their unique approach.

💡Relationship Building

Relationship building refers to the process of establishing and nurturing relationships with clients or customers. The speaker highlights the importance of building a relationship from the beginning as a key factor in closing the deal, mentioning how sending leads, making a video, and having a Zoom call contributed to this.

💡Revenue

Revenue is the income generated from business activities. The speaker learns that the client's revenue for the current year has already matched the previous year's total, indicating significant growth and success for the client's business, which also provides context for the speaker's ability to sell a high-value service.

Highlights

Joined Rank and Rent in October/November after the birth of his son during paternity leave.

Started with flip marketing and researching before discovering Nick's group.

Nick provides 98% of his secrets for free, which helped in understanding the process.

Joined Nick's paid group for connections but had a deal lined up before joining.

Initially hesitant to keep ads running due to fear of spending money without getting a deal.

First niche chosen was towing, which required high ad volume and was not successful.

Switched to the concrete niche and committed to not contributing to a 401k for 3 months to focus on the business.

Received the first lead on the first or second day of running ads.

Sent a total of eight leads to learn the process and understand the client's needs.

Had a 45-minute call with the client, understanding his passion for growing the company.

Client was already paying for leads at $450 a month, which initially seemed like a challenge.

Used a screencast to show the client the value and uniqueness of the offered service.

Sold the service for $1,400 a month, which is three times what the client was paying for another service.

Emphasized the importance of building a relationship with the client from the beginning.

Client's revenue last year was $800,000, and he has already matched that this year.

Acknowledged that the service could have been sold for a higher price due to the client's success.

Mistakenly believed that the client had a misconception about the value of the service offered.

The process of closing the deal was described as surprisingly easy once completed.

Transcripts

so tell us about your deal so how long

have you been in how long have you known

about Rank and rent and then how long

has it been since you got that first

deal like what was the the time frame I

got into Rank and rent probably I think

it was October like right after my son

was born I got a 5-month old right after

he was born I was on paternity leave and

I was just I was doing the flip

marketing stuff and I was you know

researching I ran across Nick and then I

came across this group so it's was

probably October November that I got

into this group and then I just started

dissecting it you know cuz Nick gives

out pretty much 98% of his secrets for

free and it's just amazing you know if

you go through and you just search the

group for any questions you have watch

the lives you know just start piecing

stuff together it'll like start to make

sense so I'm in Nick's paid group now

but I actually had this deal and I've

only been in his paid group for like

less than a week and I had this deal

lined up ready to go before I even got

into the paid group so there was enough

stuff in the free group to get me up to

that point the main reason I went into

the free group is cuz I just wanted to

be like in the group like I wanted to be

able to have the connections of being

the group right so yeah I mean I had

this whole deal lined up I went into a

couple different city Niche Combos and

then I kept like spending money on ads

and I was like no no I turn the ads off

like I'm not nervous to to keep them

going nervous to keep them going I'm

like what if I spend $600 on ads and

then I don't get a deal I'm out $600 do

you feel like this is why it took you I

mean you got the deal but like do you

feel like this is what held you back

from getting it from like a month to

like now is that kind of what you think

your hangup is yes I could have got it

much sooner sooner had I just had just

let the ads run and ran with the process

and I actually went into a niche the

first one I did was a niche that I

should not have done I went against

Nick's uh advice and I was doing Towing

I know people have success with Towing

but you have to produce a lot of volume

with your ads to make make it and so I

was like really nervous about that so I

kept like I'd spend like 100 bucks on

ads and I was like no that turn it off

and then I would turn it back on and

spend some more and turn off and I'm

like nothing's ever gonna happen I'm

just G to keep spending money so I got

out of Towing I went into concrete and

then did all the ads and everything and

I was like all right look I'm not going

to put money in my 401k for 3 months I

was like I'm going to make this work for

three months I like because I've been

putting you know money back but I'm like

this is way more lucrative than like

this1 thing right so I'm like no more

401K for three months I'm going to make

this work I'm giving myself that like

Grace I guess and I'm going to let these

ads run and follow the process so turn

the ads on let them run I think it was

like the first or second day that I had

them running I had a lead called a guy

went through probably three or four

businesses and this guy picked up and I

immediately knew like just the tone of

his voice I was like this is the guy I'm

going to close the deal on this guy

because I could just tell like he just

is Young he he wants to grow and sent

him the first lead and then the next day

I send him another lead and the timing

was not on my side this time he was kind

of unresponsive he was doing like a

80,000 foot parking a lot or something

so he was super buy I ended up sending

him like eight leads

because because the timing just wasn't

good but it helped like it helped me

learn the process and like I'll know the

next time around I'm not going to send

that many but I think helped me for this

one because after I send him like the

second or third lead I got on a call

with him he pretty much told me his life

story in like 45

minutes

yeah this guy definitely wants to grow

like he's super passionate about his

company and he told me he said yeah I'm

paying for leads I he's like I got

another leion sight just like this one

it actually started the same way and I'm

paying $450 a month and I was like at

that moment I was like oh no like I

cannot compete with $450 a month that's

what's funny is I've had that same same

thing happen to me where like the guy's

like hey I actually partnered with

somebody a week later he like goes to

this some freaking concrete XO and he's

like bro I heard I just been like

talking around some guy can do it for

$400 I'm like well that's the difference

between Great Value at Walmart and like

Costco you you know something way better

dude I'm like you're comparing to apples

and oranges like yeah so like I totally

get what you're saying so yeah he said

he had that one for 450 and then he had

another one that was like $100 for 3

months and it was like decorative

concrete or something and I was like I'm

not going to be a to compete with this I

kept going I was like I'm just going to

keep going with the process I send him

some more leads asked around to some

friends I was like how should I upsell

this and I asked Nick too and it was

like just show him the value in what

you're offering right like show them

that you're going to be better so I

actually went a little bit off off like

when I did my screencast I went a little

bit off script and actually showed him

the city where he's at and I was like

look there's no one here so I like I

don't know where you're getting these

other leads from but it's not your area

like you know I showed him basically the

whole the whole concept of you know what

I was going to do and what I was going

to build and he was he totally got it

and he was like the fact that you sent

me the leads and then sent me this video

and that we're doing this Zoom call and

all this stuff he's like I can tell that

this is different the other one he was

like she just called me on the phone and

said hey do you want these leads $450 a

month you know we saw that value and the

fact that we were actually building that

relationship with them from the very

beginning and I think that's super

important and so yeah I sold him on you

know $1,400 a month which is three times

as much as he's paying for his other

service so dude I well and I I just love

that you said that too because like

you're going to get come come to that

point where they're going to try to like

scare you like I've had people that get

on the phone and like when they first

say it dude you're like great like I

can't compete with that they're never

going to want this service but like I've

had the same thing happen to me where

they've like told me they're like well

well I'm only paying like this much for

this and it's been fine for me but then

I'm like okay well like if you have

enough jobs I don't want to put them on

you and they like oh no no no no and

like they like start coming back to you

because their leads actually aren't that

good but it's just proof that like don't

get scared like that they try to do

stuff cuz it's just the game like

they're all trying to play this game of

like playing hard to get we're all doing

it just in our own little ways it's like

who can call who can call each other out

first basically like and it's like they

need us more than we need them like

there's plenty of business owners but

like very rarely I feel like are you

going to get a chance where like one of

us right is going to come and and Pitch

one of these guys and send him free

leads so I definitely could have closed

in for higher he definitely had like

this misconception on like what the

value was because he's paying but had he

not had the other Le gen service I

definitely could have closed him for

higher I found out that he hit uh his

Revenue last year was 800,000 and then

this year he's already hit 800,000 and

so he's like blowing his last year's

goal out of the water so

out of the water so I'm like I

definitely could have like sold this for

much more but he just had a a

misconception around like the value in

it but down the road you know I might

try to like up the price on him or

something but that's my first but yeah I

mean it was definitely a process and but

it wasn't hard like once you do it and

close that deal you're just like okay

that was actually kind of stupid easy

like let's go I know

[Music]