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.