$16M a Year and Still a One-Man Show — Transcript

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1. 0:00Hello. My name is Ricardo. We sell
2. 0:02wellness products and solutions,
3. 0:04protocols to clients, some businesses.
4. 0:08Our revenue are on track this year to do
5. 0:1016 million.
6. 0:11>> Congrats.
7. 0:12>> As far as Thank you. As far as
8. 0:15revenue goals,
9. 0:16100 million plus, you know, not not
10. 0:19>> wellness products, what does that mean?
11. 0:21>> So, wellness products as far as like
12. 0:22nutraceuticals. We also have protocols,
13. 0:24dietary protocols that people can follow
14. 0:26and also get the results.
15. 0:28>> sell supplements.
16. 0:28>> Mhm.
17. 0:29>> Okay. And meal plans and [ __ ] I say
18. 0:31that like not to diminish just so I can
19. 0:33understand.
20. 0:34Um I was in the supplement business,
21. 0:36too. It's all good. Um okay. So, you
22. 0:38were selling direct to consumer. Are you
23. 0:39doing uh are you doing via ads? What's
24. 0:41the method?
25. 0:42>> Mostly ads, yeah.
26. 0:43>> Okay. Um
27. 0:45do you have any kind of influencer
28. 0:46strategy or it's just pure direct
29. 0:47response?
30. 0:47>> Just pure direct response.
31. 0:48>> Got it. Okay. So,
32. 0:50uh
33. 0:51what's so
34. 0:53Why can't we do more of that?
35. 0:54>> Uh I think the the the more problem is
36. 0:58A players now.
37. 1:00>> Okay.
38. 1:00>> Because
39. 1:01>> So, you just can't manage y'all.
40. 1:02>> Yeah, I'm doing everything.
41. 1:03>> Got it.
42. 1:04>> Okay.
43. 1:04>> Um
44. 1:06What are what's uh what's net profit on
45. 1:07it?
46. 1:08>> Uh net profit 22%.
47. 1:09>> Okay, got it. So, you have Well, cash
48. 1:12flow wise, are you okay?
49. 1:13Okay.
50. 1:14Um
51. 1:15So, what roles Let me What roles
52. 1:19What things are you spending your time
53. 1:20on that are the least valuable that are
54. 1:21taking the most time?
55. 1:22>> Mhm.
56. 1:25The marketing and making
57. 1:26>> That the least valuable?
58. 1:27>> Well,
59. 1:28least valuable.
60. 1:29>> Yeah, I was like I That's pretty I
61. 1:31figured you'd be doing marketing, but
62. 1:32like That's probably not the least
63. 1:33valuable.
64. 1:34>> I would say making the ads, it takes a
65. 1:35lot of time.
66. 1:36>> Okay.
67. 1:36>> It's also extremely valuable as well.
68. 1:38>> Yeah.
69. 1:42So, all you do all day is just make ads
70. 1:43and run ads?
71. 1:45>> For the most part.
72. 1:45>> Okay. Uh then split splitting that up,
73. 1:48do you have somebody else doing the
74. 1:48media buying or you doing the media
75. 1:50buying?
76. 1:50>> I'm doing most of the media
77. 1:51>> You can prob media buying I think is
78. 1:53more and more commoditized skill.
79. 1:55So, I would probably attack that first.
80. 1:57There's also like I know if you saw the
81. 1:59the new plugin that just got released
82. 2:00from Claude,
83. 2:02but it manages Facebook ads in real
84. 2:05time.
85. 2:06>> Okay.
86. 2:06>> So, something to consider there.
87. 2:08Um
88. 2:09beyond that,
89. 2:10on the creative side, I think what you
90. 2:12probably need is
91. 2:16I call it a self-licking ice cream cone,
92. 2:17but basically you need a way where the
93. 2:21the regular activities of the business
94. 2:22create the creative to fuel the
95. 2:25business.
96. 2:26And so, some of you guys, you know, did
97. 2:28a video on the way in. That's a method
98. 2:30for us to just allow the machine to
99. 2:32continue to feed itself. And I've done
100. 2:34this in every business that I have, and
101. 2:35it's because like ultimately you don't
102. 2:36want the business to be about you. You
103. 2:37always want the business to be about
104. 2:38your customers, right? And so,
105. 2:40it's Do you have a community that you
106. 2:42bring people together? Okay. So, I would
107. 2:45say I would probably do a couple things.
108. 2:46So, one is I would run a testimonial
109. 2:48contest tomorrow for a year's worth of
110. 2:50supplements
111. 2:52for the person that leaves the best, you
112. 2:53know, testimonial. Thing one.
113. 2:55Thing two,
114. 2:57is I would create some sort of
115. 3:00unlockable bonus that happens in the
116. 3:02first 7 days. So, that someone can
117. 3:04capture
118. 3:06and so that unlockable would be maybe
119. 3:07like some 30-day cleanse. What It
120. 3:09doesn't matter. Just some sort of
121. 3:10digital thing that sounds sexy and is
122. 3:12small, but like attractive that people
123. 3:14would want to do something to get for
124. 3:16free so that they can send you a video
125. 3:18in. That'd be the second thing. The
126. 3:21third thing is I would say in that
127. 3:23community, if you do like a
128. 3:24once a month or once a quarter, you do a
129. 3:27like a referral strategy, and the goal
130. 3:29is not necessarily to to bring
131. 3:31referrals, but to capture people posting
132. 3:34cuz you want them to post to bring their
133. 3:36friends, but you just want the posts.
134. 3:38Right? And so, each of these is
135. 3:40basically a creative cadence
136. 3:42that you'll need. Now, long-term if you
137. 3:45think about this business as an
138. 3:46e-commerce business, which is what it
139. 3:48is, you'll have to probably think about
140. 3:51a
141. 3:54brand and influencer strategy because
142. 3:57there's there's almost no companies that
143. 3:59get to $100 million a year
144. 4:01in e-commerce that do not have brands.
145. 4:05For sure, there's the the smash and grab
146. 4:06guys, that's a thing. Um but they they
147. 4:09they they come and go. They disappear
148. 4:11overnight and I'm guessing you don't
149. 4:13want that. And so, we have to think
150. 4:15about like if you really want to go next
151. 4:16level. So, what I just gave you was like
152. 4:18that that'll, you know, it's the next 6
153. 4:20months, right? That'll you'll get more
154. 4:21creative, you'll be able to scale with
155. 4:22that, blah blah blah.
156. 4:24If we want the much bigger move, the
157. 4:25$100 million move, you're really serious
158. 4:26about it,
159. 4:28you're going to have to make a bet
160. 4:29on, call it, one to three creators who
161. 4:32embody what you want the values of the
162. 4:34brand to be and then you will want that
163. 4:37association
164. 4:39and then you'll need to white-list
165. 4:40their, you know, them making ads for you
166. 4:42and then run that. That's the play that
167. 4:44you'll want to do. Now, those people,
168. 4:46you'll want like really legit people
169. 4:47because this is the higher up you go,
170. 4:50the more you'll be able to recruit the
171. 4:51next level.
172. 4:52>> Exactly. I had a conversation with one
173. 4:54of the guys earlier and he was
174. 4:55mentioning that they were they brought
175. 4:57in nutritionists and dieticians to be
176. 4:59>> So, either you go the influencer side or
177. 5:02you go the authoritative side, the
178. 5:05doctor so-and-so side, or you go the
179. 5:08beauty slash health influencer.
180. 5:11Different brands. And so, you figure out
181. 5:13which one you want for you.
182. 5:15Um
183. 5:16I would say I've seen
184. 5:19brand brand typically more health and
185. 5:21beauty.
186. 5:22Uh
187. 5:23smash and grab guys who scale,
188. 5:25doctor.
189. 5:26>> No.
190. 5:27>> I'm just saying, you've seen plenty of
191. 5:28them. Um and it's usually because the
192. 5:30doctors don't really care as much and
193. 5:31they just like make the doctor into a
194. 5:32celebrity and they just use the white
195. 5:33lab coat and the doctor's credibility to
196. 5:35convert. Um and they have them read the
197. 5:36VSLs. So, I'm just being real.
198. 5:39But if you want to build something
199. 5:40that's really big and not just a pure
200. 5:41smash and grab, long term, you'll want
201. 5:43to have one to three really strong
202. 5:44associations, have them create the
203. 5:46creative for you, um and then using
204. 5:48their brands leverage to get the micro
205. 5:50and nano influencers underneath. Because
206. 5:51that's basically you'll need to build
207. 5:53out your own version of a TikTok shop
208. 5:55for the business.
209. 5:56Um but a community now of the promoters,
210. 5:59not just the customers.
211. 6:00>> Okay.
212. 6:01Beautiful.
213. 6:02>> All of those are just creative machines.
214. 6:03>> Okay. Same for Should we do the same on
215. 6:05TikTok? Because we just launched TikTok
216. 6:07this year.
217. 6:07>> Yeah, you'll murder it. It's It's insane
218. 6:09how easy it is. Yeah.
219. 6:11>> Okay.
220. 6:12>> Thank you, Alan.
221. 6:14>> [applause]
222. 6:18>> Just for everyone For those of you who
223. 6:20sell direct response not just
224. 6:22Who's here runs ads?
225. 6:25Okay. All right. Higher than normal.
226. 6:27Um
227. 6:29you Like the world has changed. It is
228. 6:32now game of massive creative.
229. 6:35And so what I would like a writer downer
230. 6:37is more
231. 6:39specific creative. And so the world has
232. 6:42changed.
233. 6:44Hopefully that isn't fall. There we go.
234. 6:46So we used to be able to run campaigns
235. 6:49that were to the ocean, right? We're
236. 6:51like 45-year-old females, whatever,
237. 6:53right?
238. 6:54We are now in a world where it's about
239. 6:56capturing 100 ponds.
240. 6:59And so with Andromeda, which is the new
241. 7:02Meta Ads update,
242. 7:04is it me who's being chatty?
243. 7:07Oh. Okay. You're good. Um
244. 7:12Meta wants to optimize the user
245. 7:14experience so that you feel like the
246. 7:16maximum amount of content is relevant
247. 7:17for you.
248. 7:18And so that means that is inclusive of
249. 7:20the ads. And now with AI, it knows
250. 7:22exactly what your ads and the content is
251. 7:24saying and they can also can perceive
252. 7:26the videos and backgrounds and
253. 7:27everything else. So many of you guys
254. 7:29might have noticed it's becoming more
255. 7:30and more addictive over the last however
256. 7:31many years. It's because it's more and
257. 7:32more relevant for you.
258. 7:34And so that means that we Gone are the
259. 7:36days of the very large national
260. 7:38advertising campaign. It is now hundreds
261. 7:40of micro ads.
262. 7:42And so this is where having a constant
263. 7:44strategy that is based around volume and
264. 7:47ideally, especially in your situation,
265. 7:49um where are you?
266. 7:51I lost you.
267. 7:52Oh, he was just like, "Fuck this [ __ ]
268. 7:53I'm out." Um
269. 7:55>> [laughter]
270. 7:55>> in his situation, uh where where a
271. 7:59creating a leveraged
272. 8:02uh
273. 8:02audience of people who will promote your
274. 8:04products allows you to create that huge
275. 8:07amount of creative that you need to feed
276. 8:08the machine. And so for those of you who
277. 8:10have started running meta ads more
278. 8:11recently, let's say in the last 6
279. 8:12months, maybe you noticed that your cost
280. 8:14per result went down, great, but then
281. 8:16you burn through creative like that.
282. 8:18Anyone else see that?
283. 8:19Right. It just means that we now need to
284. 8:21feed that machine because one piece of
285. 8:23creative will burn through this at a
286. 8:25more efficient rate than it did before,
287. 8:27so your cost is lower for a shorter
288. 8:29period and then skyrockets. So you have
289. 8:31to just keep feeding this machine with
290. 8:34or this pond with as many of those
291. 8:36little micro pieces as possible. Does
292. 8:37that track? Okay. Yes, ma'am.
293. 8:39>> If you are business owner and you are
294. 8:41not growing as fast as you'd like, I'd
295. 8:42like to give you a free gift. So my team
296. 8:45and I put together the $100 million
297. 8:47scaling road map, which is basically 200
298. 8:48hours of us looking over all the
299. 8:50portfolio companies we've had and what
300. 8:52stages of growth they went through and
301. 8:54more importantly, where they got stuck
302. 8:55and how they got past it. And so we
303. 8:57broke it into these 10 stages and we
304. 8:59made this little kind of quiz thing
305. 9:00where if you put in your business
306. 9:01information, it'll tell you where you're
307. 9:03at and the most important part for you,
308. 9:05what to do for each of functions of the
309. 9:06business across product, marketing,
310. 9:07sales, customer success, recruiting, IT,
311. 9:10human resources and finance. And so no
312. 9:12matter what you're struggling with,
313. 9:13someone else has already struggled with
314. 9:15it and solved it. And so I'd like to
315. 9:17give you this thing absolutely free. You
316. 9:18can go to acquisition.com/roadmap,
317. 9:20plug in your business information and if
318. 9:22you want us to actually help you
319. 9:24deconstruct the business and you're
320. 9:25trying to scale, we'd love to help you
321. 9:27out. On the thank you page, you can book
322. 9:28a call with my team and we will
323. 9:31look at the business, see if we can help
324. 9:33and if we can, we'll invite you out to
325. 9:34Vegas and we'll do this in person live.