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Eight business owners asked me to solve the biggest problems holding them back — Transcript

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0:00Hi Alex, my name is Stephanie Pipkin. I
0:02own Serene Clean. We service residential
0:04and commercial clients in rural Western
0:05Wisconsin. We do 1.3 to 1.4 million in
0:09revenue. I would love to be at 2 to 3
0:11million in revenue. What is stopping us
0:13is staffing, turnover, recruiting,
0:16manpower. So,
0:18uh historically our best staff have come
0:21from the healthcare industry. They have
0:22worked in healthcare in some flavor.
0:24Those are our best techs, interestingly
0:26enough. So, whether they worked in
0:27nursing homes or etc. So, knowing that,
0:31um and we also realized this week that
0:33or this weekend, whatever day it is, we
0:36do not have a career path for our techs.
0:38So, that is something that we want to
0:39unlock for sure. But, in general, super
0:41rural Wisconsin. We're talking 5,000,
0:4310,000 town people. So, any
0:46recommendations for that you've used for
0:48cleaning
0:48>> have a churn issue or an attraction
0:49issue?
0:50>> Both.
0:53>> I solve problems back to front. So, I'd
0:55want to solve the churn first because if
0:57you solve the churn first in your
0:58existing flow, so the force will grow.
1:01And that might be enough. If you solve
1:03the churn issue and then we have
1:05uh
1:06uh and we still have a deficit, then we
1:07can solve the attraction problem. Um
1:10so,
1:13you were in that rural kind of bucket
1:15that I was saying earlier.
1:17Um
1:21Being I'm all for having a very clear
1:23avatar, like you have with the
1:25hospitality etc. nursing, whatever.
1:27Um
1:30I wonder I feel like
1:33that
1:35you might be limiting yourself. How many
1:37how many uh techs do you have?
1:38>> Uh like 25 techs right now.
1:40>> Okay.
1:41I feel like you could find other people
1:43out of the 5 to 10,000 people that are
1:46out there who would be able to clean
1:48well.
1:48>> We're not marketing to that. It's just
1:50something that I'm aware of of like
1:51should we be marketing to that?
1:53>> I wouldn't. I think you're so like it's
1:55so niche given the size of the market
1:57because I've think cuz like in a
1:58business like yours economics well
2:01economics matter in every business but
2:02in terms of new talent acquisition
2:04it's not like you can find a cleaning
2:05tech that you can get 10x leverage on.
2:07Right? Like if you find an amazing
2:08engineer, an amazing marketing, amazing
2:09sales person, you can pay more for
2:11talent.
2:12When like you're in very narrow ranges
2:14in terms of what you're able to pay
2:16based on what people are willing to pay,
2:17right? And so I think that like what
2:20business are you really in? You're
2:21actually in the training business. And
2:24so the core value
2:27the core problem that you have to solve,
2:28the feature not the bug of your business
2:29is the people problem. And that's never
2:31going to go away. And so all of your
2:34focus should almost all be on the supply
2:36side of your business. And you should
2:40pride yourself on being able to take
2:42anyone off the street and then get them
2:44up to speed in 14 days and not churn
2:47based on your career path and
2:48opportunity.
2:49And so what you'll have to do is um
2:53this 100% applies to AI by the way. But
2:55you have to break down all of the
2:56behaviors that make the great techs
2:58great into observable actions rather
3:00than descriptive terms. So instead of
3:02saying like be upbeat, it's like not
3:05helpful.
3:06So what I need you to do is smile, nod
3:07your head when someone's talking, say
3:09yes, sir, no, ma'am, and my pleasure
3:12right after every time you have an
3:13interaction. Um if anyone asks for
3:14something else, you immediately do it
3:16and say my pleasure. And then and then
3:18we role play that. And so the the
3:20ultimate version of this that will
3:21likely have to happen is that you need
3:23to recruit probably in groups and
3:25cohorts or classes. Are you doing that
3:26already?
3:27>> We do group interviews, yes.
3:28>> Okay, interviews but in terms of
3:29training, what about that?
3:31>> No, we do one-on-one training. Just the
3:33limitations of the trainer it feels
3:35overwhelming to them.
3:36>> Yeah. So I I would I want to break that
3:38belief because it's almost as costly to
3:41train one as it is to train five.
3:44And when you have more people you can
3:46split them up and have them role play.
3:47>> Okay.
3:48>> And so the the the process of training
3:50anything from a role play perspective
3:52which is how we basically train
3:53everything, um if it's client facing,
3:55is number one, we used to start every
3:58training meeting with kudos, which is
3:59like here's what so so and so did well,
4:01cuz we want to reinforce them
4:02reinforcing each other, and we want them
4:03to say the kudos. In the beginning the
4:04managers,
4:05once the culture is installed, they give
4:07kudos to each other. It's a great uplift
4:09to basically allow reinforcing to happen
4:10without the the leader. That's how a
4:11culture spreads. The second is that the
4:14manager or trainer models the correct
4:16behavior.
4:17The The third part is that then we split
4:19into role play so they can do with each
4:20other. Do it to each other. The key part
4:22with role playing is that real-time
4:24feedback has to happen. Meaning, the way
4:27that we do it is that we nod our heads
4:29and we have our thumbs up while the
4:30person's doing the good job. So they
4:31have real-time feedback. The mistake
4:33that people make is that they will have
4:34a script that they'll have someone do or
4:36some action. They'll wait for them to do
4:3817 things and then at the end be like,
4:40"Okay, so
4:42you know, what you did wrong was this
4:44and this and this." No one learns that
4:46way. You have to stop them in the moment
4:48they mess it up and say, "Hey, great.
4:51Go back to here. I want you to raise
4:53your voice at the end. Try to get."
4:54>> Mhm.
4:55>> And when they nail it, you say, "Awesome
4:56job. Lock it in." Lock it in means you
4:58do three more times in a row and then
5:00you keep moving. And so that is how we
5:02train anyone on anything.
5:05So, go ahead.
5:06>> Any recommendations on People quit a lot
5:08because of the physicality. How And they
5:10say, "Yes, I can do this job." And then
5:12we get them in and it's like, "Oh no, I
5:14can't clean like this." Like And then we
5:16waste all this time.
5:18>> Um
5:20Great point. One, are there tools that
5:23we can give them to make the job easier
5:25cuz this is not going to go away.
5:27Two, is there a certain
5:30physical I'll watch my HR language.
5:32>> Yeah, we know. We know what you're
5:33talking about.
5:34>> Yeah, yeah. Is there
5:36some way to identify who might be, you
5:38know, I mean, whatever. You have some
5:39test. I don't know. Have them go through
5:40boot camp.
5:41>> [laughter]
5:43>> Right?
5:44Um like maybe it's just like we we take
5:47from industries where people are on
5:48their feet.
5:48>> Mhm.
5:49>> Like, it cuz rather than just say like
5:50just nursing homes or whatever, it's
5:52like maybe it's just on their feet is
5:53something much more likely. But, I think
5:55if in the training they're on their feet
5:57for 12 hours, that will model what the
5:59day is like. And if they can't do that,
6:00then you can get them out much faster
6:01and not waste time on it. But, I think
6:03the big If I had If I had to guess one
6:04thing for you, is that you need to
6:06switch from one-on-one to group
6:09training. If you just do that, that will
6:11probably And so, number one, one-on-one
6:13to group. And number two, I need you
6:14open up the aperture for the types of
6:16candidates that you're willing to let
6:17into the training program. And then all
6:19of your extra bandwidth is on making
6:20that training program [ __ ]
6:21unstoppable.
6:22>> Okay. Perfect. Thank you so much.
6:24>> Thank you.
6:25>> Hi, my name is Ricky. I sell content to
6:27real estate agents. Uh we do 800,000 a
6:29year. I'd like to be at 3 million.
6:31>> Sweet.
6:32>> What I believe is stopping me is we do
6:34cold outbound from my Instagram.
6:36Um and after a certain amount of
6:37actions,
6:38>> Mhm.
6:38>> uh sometimes we get restricted and it's
6:40terrifying.
6:41>> Okay.
6:42>> Uh so, trying to do more scary.
6:44What I've done to
6:47help this is good organic content, paid
6:50because how of Andromeda thing works.
6:52Bringing people in, running the same
6:54play with my same setters. But, like,
6:55cool, you went outbound to get them, but
6:57now they're coming in do the same thing.
6:58>> Okay.
6:59>> Um which is cool. Um
7:02I feel like uh Ed told the story last
7:04night where you were like you were doing
7:05the cold outbound and it wasn't working.
7:07And he was like, "I'm going to have this
7:08heart-to-heart with him." And you're
7:09like, "Dude, I just figured it out. It's
7:10about to come."
7:11>> Uh-huh.
7:12>> like I'm there with that.
7:13>> Uh-huh.
7:14>> But, also outbound still works.
7:15>> Uh-huh.
7:16>> I'm kind of like I don't know what to
7:16do.
7:24>> What changes about what you do on a
7:27daily basis if you add in
7:30the making your own content as the
7:32second channel?
7:34>> Um the content's fine. I have that on I
7:36make content, so we're unlocked there.
7:37>> So, then what's the So, then Sorry. Can
7:39you Can you the problem?
7:40>> Yeah, the problem is is we were getting
7:42clients by like going on Zillow being
7:44like, "Oh, they're great. Reach out to
7:45them on Instagram." and then doing that
7:47100 times.
7:47>> Cool.
7:48>> Doing that too much with too many
7:49message comments and things. Cool about
7:51that. So, instead of going out, I was
7:53bringing people in through paid on my
7:55good organic content.
7:56>> Uh-huh.
7:57>> So, that's helping.
7:57>> Paid on good organic content.
7:58>> Yeah, so like I would make like a local
8:00celebrity ad being like, "You're a top
8:011% real estate agent in"
8:02>> Uh-huh.
8:03>> They would follow me, but like, "Yeah,
8:04they're a top 1% agent. Reach out to
8:05them." So, it's still kind of the same
8:08except it's inbound now.
8:09>> Okay.
8:09>> And that's not working yet. I think it
8:11might work.
8:12>> Yeah.
8:12>> my question is
8:14do I find some way to do more or
8:16outbound?
8:17>> Let me I'll just I'll answer this for
8:19everybody.
8:20The hardest part about marketing is
8:21getting the right person.
8:23>> Yeah.
8:23>> Once you have the right person, it's
8:24just sales motion.
8:26>> Yeah.
8:27>> So, like not for me like if we're
8:28thinking about like a football game, 90
8:30yards down the field is just getting the
8:32right person to follow you, DM, opt-in,
8:35book a call. That's 90%. The other 10 is
8:39just how much friction do we need to
8:40add. That's it.
8:41>> Yeah.
8:42>> And so, if people are getting on and
8:43they're not they are qualified but not
8:45buying, we need more friction not less.
8:48>> Yeah.
8:50>> So, to So, I think the question is
8:52should I keep doing this thing that's
8:53not working?
8:53>> Yeah.
8:54>> Yes, I think that makes sense. Also
8:55because you making content long-term is
8:58what you need to do.
8:59>> Yes.
8:59>> Um it also feeds the cold outbound,
9:02right? Because you have that motion. So,
9:03it's not like it's cannibalizing. And
9:04so, when I think about like is this a
9:06distraction?
9:07That was why I led with the first
9:08question is like what does this change
9:09about what you do?
9:10>> Mhm.
9:10>> If you were going to make content
9:11anyways and you already have the
9:12outbound team and you're just driving
9:14ads down the funnel and we the only
9:15thing that's going to change it's going
9:16to be more for them than you is you'll
9:19probably have a team that has to follow
9:20a different motion that's for
9:22>> Yeah.
9:22>> Part of the second problem is that I
9:25this is so dumb that I'm saying it out
9:26loud. I took my best outbound person and
9:29put them on inbound which makes sense I
9:30think on the things you've said before
9:32except for the fact that now outbound is
9:34going down and we're trying to make
9:36inbound work.
9:36>> Yes.
9:37So, it was the right call, okay, but you
9:41just didn't do it at the right time.
9:43You needed to have somebody else on that
9:45side get as good as your top guy before
9:48You never stop a flow.
9:49>> Yeah.
9:50>> Once the flow's matched, then you can
9:52duplicate it.
9:52>> Cool.
9:53>> And so, with the like you did the right
9:55move on getting the best guy over
9:56because I don't like two news.
9:58>> Yeah.
9:58>> So, if I have a new channel, I want a
10:00proven salesperson. I don't want to put
10:02a new salesperson new process, I'll
10:03never [ __ ] know what the problem is.
10:05Right? I know this guy can close, and I
10:07know he knows our process and all that
10:08stuff. So, let's just get him to
10:09duplicate that cuz they have to
10:10duplicate that process anyways. We have
10:12to duplicate his skill and what he does
10:13his actions to get somebody else to do
10:15the cold outbound. Once he's transferred
10:17that ability, that person's number is
10:18the same as his, then he moves over.
10:19>> Okay, that's fantastic. Is it possible
10:21last little part Is Is it possible to
10:23keep him on the inbound, have him help
10:25me train the new outbound person,
10:27and just
10:28do that?
10:31>> I want to make sure I understand the
10:32question. He's still So, he's currently
10:34doing outbound. That's not working yet.
10:36>> to inbound. Like, it's the inbound.
10:37>> him back to inbound No, sorry. Inbound's
10:40the new one. Outbound's the old one.
10:41>> Best guy on inbound, new person on
10:43outbound. Outbound saw a drop, and now
10:45I'm like, [ __ ]
10:47>> But, what [snorts] was the question?
10:48>> Um should I use my best guy to help me
10:50train a new outbound person?
10:52>> Yes.
10:52>> Okay, perfect. That's it.
10:54>> [laughter]
10:54>> Okay.
10:55Yes.
10:56>> Appreciate you.
10:57>> Hi. This is for tall people. Um my name
10:59is Julie. I sell custom screen printed
11:02and embroidery embroidered
11:04custom merch to clubs, groups, and
11:06organizations through e-comm.
11:08Uh we do 17 and a half million revenue.
11:11I'd like to be I mean, I'd like to be at
11:13100. I think a good first stop is 50,
11:15you know.
11:15>> Sure.
11:16>> Um so, what's stopping me is customer
11:17acquisition.
11:18>> Okay.
11:19>> A little background is we do all of the
11:21production in-house, so we control
11:23production.
11:25About 20%
11:26>> like a warehouse and all that?
11:28>> Yeah.
11:28>> Okay.
11:29>> In Kentucky. Um let's see. about
11:3380% of our capacity is taken up by a one
11:36big contract customer
11:39that we just get paid on the screen
11:41printing. 20% of the capacity is our own
11:43business. Our own business is about
11:45three times more profitable than the
11:47other.
11:48>> Okay.
11:48>> So, if we flipped, we already have the
11:50capacity done. If we flipped from that
11:53contract customer
11:55to our customers, we would be a $50
11:57million company today and our employees
11:59wouldn't know that anything had changed.
12:01>> Okay.
12:02>> And so, we really suck at getting people
12:04to come to our website. And we are
12:07exactly like our competitor. Like the
12:08contract customer we print for, their
12:10customers are our customers.
12:11>> Yeah.
12:12>> They're huge. We are not. So, my
12:14question is, um,
12:16>> What [laughter] do you do?
12:17>> Help me. Yeah, where do we start? I
12:18mean,
12:20we have We have a
12:21>> question.
12:22>> We have a We have a website, you know,
12:24and then we have outside sales people
12:25and they both bring in about the same
12:27amount of money.
12:28>> Okay.
12:28>> We want to scale the web because I can
12:30sell 24/7 across the country, whereas
12:33>> Okay.
12:34>> there's an issue with outside sales.
12:35>> Okay. There's So, two things there. So,
12:38first one on the 80%, what percentage of
12:40revenue is that?
12:42>> Uh, like 45%.
12:43>> Okay, so it's it's material.
12:45>> Yeah, but it's we and it keeps our
12:47workflow steady for now. Yeah.
12:48>> Yeah, there's there's advantage to
12:49having that.
12:50>> but we'd like to have it all.
12:52>> Good. Yeah. So, uh, what I'll tell you
12:54what I'm not going to say is don't kill
12:56your whale. I don't think that's a good
12:57idea. Like we never stop a flow until we
12:59create another flow. Um, and ideally we
13:01just don't stop flows, preferably.
13:03>> we like to do, yeah.
13:03>> Great. Um, so, what
13:07So, right now you're at full capacity
13:08because of this setup.
13:10>> No, we're
13:10>> Okay, how much capacity do you have
13:11left?
13:12>> About, I'd say 25% right now.
13:14>> So, that 25% we have to demonstrate that
13:17we can double the other 20% of the
13:19business that's three times as
13:20profitable.
13:20>> Mhm.
13:21>> So, we have that double that's sitting
13:22there, correct? Like you could double
13:23that side. Okay.
13:25>> Got it. So, on the website, now, magic
13:27question, what stops us from doing more?
13:30It was there, but
13:31>> [laughter]
13:31>> Right. Now, I I feel like I might have
13:33answered a lot of my questions through
13:34that initial thing. I mean, more is one,
13:38knowing we need to do more, two, the
13:40manpower to do more.
13:41>> Okay.
13:42>> Um
13:42>> We'll solve one at a time.
13:43>> Yeah.
13:44>> So,
13:46we needed more, so we're in agreement
13:47there.
13:48Um on the website, what does more
13:50require?
13:52>> Uh more ads is what I was
13:54>> Okay. What stops you from making more
13:55ads?
13:56>> Uh manpower.
13:57>> Okay, got it. So, you need more creative
13:59is the issue.
14:00>> Yes. We We We film all of it our own. I
14:03mean, there's a question if our They
14:04convert, but could they be better? I'm
14:06sure. Like, are we doing the right
14:08thing?
14:09>> Okay, so it's not a spend issue.
14:11>> No.
14:11>> an LTV to CAC issue.
14:12>> No.
14:13>> Okay, great. So, we just need more
14:14creative.
14:15>> Right. Maybe.
14:16>> Okay, this feels really solvable.
14:18Um okay, so I mean, how what's spend per
14:23day and how many pieces of creative are
14:25you making per day?
14:27>> Yeah, this is where I should go sit
14:29down. Um
14:29>> No, you're good.
14:31>> Spend [laughter] So, let's just say for
14:32a month it's 25,000, so a little less
14:34than a thousand a day. I mean, we're
14:36running like 15 ads.
14:39>> Like a month?
14:40>> Yes, yeah.
14:41>> Got it. Yeah, so I mean, we just got to
14:43get to like 50 a week. And 50 a week is
14:46not hard. Like, it's it's like it's not
14:48hard to do 50 ads a week. Like, you can
14:49do it in like an hour and a half. Um and
14:51then you just have a couple editors. And
14:53given the size of your business, what
14:54are your uh margins right now?
14:56>> Uh about 20%.
14:58>> Okay, so you're at three or four
14:58million, whatever profit, somewhere in
15:00there. Yeah, so if you hire three
15:02editors and they cost $200,000 in total,
15:05it's going to not your life's not going
15:07to change.
15:07>> Sure.
15:08>> But your business could double.
15:09>> Yes.
15:10>> That feels worth it.
15:11>> It does.
15:11>> You want to do that?
15:12>> I do.
15:13>> Let's do that.
15:14>> And if there's anyone here who is
15:16looking to quit their business and come
15:18[laughter] join me, I'll do that.
15:22>> So, just as a side note, when you're
15:24looking for editors, I would look for
15:25organic people, not people necessarily
15:27who are kind of ad specialist, because
15:29organic and paid have more or less
15:31merged.
15:32Um and so, your best piece of organic
15:33that get proven are going to be the ones
15:35that you're going to put more money
15:35behind anyways.
15:37Um the only real change that you'll
15:38probably add is maybe like a lower third
15:39banner that has a CTA on it onto an
15:41existing winning creative. Um or you can
15:43slice in a CTA at the end with like a
15:45freebie or some whatever your lead
15:47magnet is to make that make it all make
15:48sense.
15:50Which means that you can take your
15:51editors, ramp up your organic, which
15:53will get you more leads, and then it
15:54literally take all that organic and make
15:56it paid.
15:57>> Two products.
15:58>> Cool.
15:58>> Hi, my name is Haley and I sell custom
16:01GPTs with authors frameworks to coaches,
16:04founders, consultants. I do around
16:06100,000 and I would like to get up to
16:09million
16:10>> Okay.
16:10>> in the next 18 months, maybe.
16:12Um I recognize about three
16:15>> offer issue, I feel it.
16:16>> Yes, so my challenge is um and and
16:19actually use your framework.
16:21>> Okay.
16:21>> So, I reverse engineer frameworks and
16:22then I build them into a branded GPT for
16:25whoever.
16:26>> Right.
16:26>> Um so, the four offer money model, my
16:29question is I have well, first of all, I
16:31have not created enough YouTube content.
16:33>> Right.
16:34>> So, can you pause real quick? What do
16:35you charge?
16:36>> Uh either 497 to 997 for a brand
16:40>> One time?
16:40>> One time.
16:41>> Yeah.
16:42Yeah, you have a model issue. It has
16:43nothing to do with this offer, but we'll
16:44deal with that.
16:44>> created an AI platform where they can
16:46also purchase and have all the
16:48frameworks. That's 3,800 a year.
16:50>> Okay.
16:51>> I have a four-week AI boot camp.
16:53>> Sure.
16:53>> 997.
16:54>> It's a lot of stuff.
16:55>> I know. I need to cut stuff out. Tell me
16:57what I need to do, please.
16:58>> Pick one.
17:00>> Um I love the AI boot camp and I love
17:01selling the operating system.
17:04>> Great. So, let's get rid of the 497
17:05thing.
17:06>> Okay.
17:06>> Um I think you can just make that a free
17:08deliverable for the boot camp. Cuz like,
17:10what's the clear outcome that they're
17:11going to get? And then just upsell the
17:12rest from the boot camp to 4K a year.
17:15I mean, those people probably $4,000 is
17:19probably one customer for them, I'm
17:20guessing.
17:21So, yeah, 5 5 10,000 a year will
17:24probably go no problem. And then all
17:27your ads go to the bootcamp, which I
17:29think will for sure [ __ ] sell cuz
17:31everyone feels like they're behind.
17:33>> So, when I'm teaching the framework and
17:35then I'm implementing it, showing it on
17:37YouTube, what is my call to action?
17:41>> Uh if you want to build something like
17:42this in 5 days or less that you can
17:43monetize, come to my
17:45>> bootcamp. Okay. And freebie
17:47>> like that would work.
17:48>> Yeah, so when
17:50what's my freebie giving it away? Is it
17:52like that specific framework that I was
17:54working on that, you know, that training
17:56or
17:56>> Oh, yeah, I mean, you can you can make
17:58widgets for every video. That's super
17:59easy. Um but that all all widgets should
18:02still lead to the one funnel to rule
18:04them all, if you will, that then leads
18:05to your bootcamp that happens on
18:07whatever cadence you want.
18:08>> Okay. All right, thanks.
18:09>> Yeah, easy. Yeah.
18:13>> [applause]
18:14>> If you want to make the bootcamp a
18:15little better, charge like 97 bucks.
18:18>> 97?
18:19>> Yeah. You want to charge more?
18:21>> I charge a thousand.
18:22>> Great, charge a thousand.
18:24I I see it as a pitch event. So, my goal
18:26is to get the price as low as possible
18:28to get the most people to show up so
18:29that I can sell the most people.
18:30>> Got it. Okay, like that idea.
18:32>> Yeah.
18:33>> My name is Alberto.
18:34I own a software consulting firm based
18:37in Puerto Rico. So, we do software
18:38businesses and automation mostly for
18:41government agencies just because in
18:43Puerto Rico that's the biggest customer.
18:45So, we started exporting a few years ago
18:48and it's going good.
18:50We are at four What?
18:52>> Do you pay no taxes or do you have to
18:53pay taxes?
18:54>> We we can we can have that conversation
18:56later.
18:57We pay we pay less taxes
19:00>> no.
19:01>> [laughter]
19:01>> We pay less taxes on exports.
19:03>> Yeah, yeah, of course.
19:04>> And we do export services. And we get
19:06tax credits on R&D. Um
19:08We are at the 4 million mark and um, I
19:11put in the intake form 10 million just
19:14because I want to get out of that place.
19:16>> Sure.
19:16>> Um, but I really after doing the EBITDA
19:18exercise yesterday, I think I want to I
19:21want to do 20 to 50.
19:23>> Okay.
19:23>> Uh, just so I can grow my multiple and
19:26maybe exit.
19:27>> Sure.
19:28>> Um, my biggest uh, problem when I came
19:31here, I thought it was marketing and
19:33sales.
19:33>> Mhm.
19:34>> And uh, after being here 2 days, I think
19:36it's hiring and focus.
19:38>> Okay.
19:39>> Um, we do very little ad spend, like
19:42very little.
19:43>> Okay.
19:44>> Almost less than 5,000 a month or less
19:47than 1,000 a month.
19:48>> Well, government's your your customer,
19:50right?
19:50>> Yeah.
19:51>> I mean, are they is the government
19:52responding to ads?
19:54That's a real question. I like genuine
19:55questions.
19:56>> Uh, well, we get we get appointments,
19:58yeah.
19:58>> From people who work at agencies?
20:00>> Yeah. They need they have needs and
20:02>> You're the first person I've actually
20:03ever heard
20:04>> Well, it's not the federal government in
20:06Puerto Rico. It's kind of a little bit
20:07different.
20:08>> [laughter]
20:10>> It's the government.
20:12I got it.
20:12>> Um, but but we we have found traction
20:15uh, by outsourcing services to companies
20:18in the US
20:18>> Okay.
20:19>> that have to do the business or the
20:21software inside of the US.
20:23>> Right.
20:23>> But they want a cheaper price or less
20:25expensive.
20:26>> Okay.
20:27>> Uh, so we have been getting traction
20:29with those clients um,
20:31for the federal government, not
20:32directly.
20:33>> Okay.
20:33>> Um, so uh, we want to increase the
20:37revenue.
20:37>> So,
20:38let me ask the question. So, you said
20:39that you feel like you're stuck.
20:42It's focus, which I'll get to in a
20:43second. And the other was manpower,
20:45right?
20:46>> Yeah.
20:46>> Okay. So, right now, if we go through
20:48all this thing, do you have more
20:49business than you can handle?
20:51>> Uh, no. I could I could do more business
20:53with the people I have on hand.
20:54>> Okay. So, then do you still feel like
20:55you're manpower constrained?
20:57>> Well, maybe not the right people for the
20:59right job. Um, um, on marketing, we're
21:02doing very little videos and we have a
21:04production studio and that.
21:06>> What? All that's though.
21:08>> Yeah. I should be doing more.
21:10>> delivery-wise
21:12>> I'm okay.
21:13>> Okay.
21:14>> I can do more with what I can I can get
21:16up to 6 million with what I have right
21:17now.
21:18>> Got it. So, you have 50% that's sitting
21:19there.
21:20>> Uh when I mean hiring, I think it it's
21:22more in the sales
21:24um more sales people.
21:25>> But you are demand constrained.
21:27>> Yeah.
21:27>> Okay. You could use more customers than
21:29than you have.
21:30>> Yeah.
21:31>> Okay. But to get more customers, you
21:33need to get leads and then convert those
21:35leads. Right. The getting lead side the
21:37ads seem to work okay.
21:39>> Yeah.
21:39>> Okay. So, then down funnel,
21:43so is it that the sales rep that you
21:45have is fully allocated or that they
21:47can't close the door?
21:49>> No training, no scripting. I learned all
21:51that yesterday.
21:52>> Yeah. Those are important.
21:53>> Yeah, they
21:54I have like a few unicorns that they go
21:56out and do face-to-face and they close
21:59leads, but I have only two.
22:01>> Okay.
22:01>> And uh I used to do that myself. I I
22:04wanted it to get out of that area.
22:06>> Yeah.
22:06>> And
22:07um so, I that's what I learned yesterday
22:09that I need to systematize the selling
22:12process because I'm an engineer myself,
22:14so I'm I was very good on SOPs for the
22:17operating area.
22:18>> Okay.
22:19>> But I have no sales experience. I used I
22:22used
22:23I don't know if I want to say I was
22:24lucky enough to be able to talk to
22:26clients and sell them.
22:27>> Yeah.
22:28>> Um and then I trained a few people that
22:30are doing that job.
22:31>> Got it.
22:32>> But only two. And I was talking to one
22:34of your guys and he said like 35 people
22:36in the team and setters, closers. I
22:39never thought of it that way.
22:41>> Yeah.
22:41>> So, that's why I said a focus problem
22:43maybe because um I never thought of
22:46that. Like I never thought of
22:48>> it's a focus issue. I'd say it's an
22:49ignorance issue.
22:50>> Ignorance, yeah.
22:50>> Yeah, which is fine. We all are
22:51ignorant. We all don't know things that
22:53we should know. Um okay. So, uh it
22:56sounds like you know the answer to your
22:58question, which is that you need to
22:59build an entire sales system.
23:00>> Well, I learned it here, so
23:02>> Yeah.
23:03Um
23:04Well, I think you should do that. Um
23:07>> What about the the advertising like uh
23:10one of your guys said that I should be
23:11posting more. I do very little posting
23:14like from my account.
23:16>> If you let more people know about your
23:17stuff, you it's unlikely that you will
23:18make less money. Um
23:20that being said, the point of the theory
23:22of constraint is to focus on what the
23:24rate limiter of the business is. And so
23:26right now, if you can just dial up your
23:27spend, and then you would have more
23:29leads than your current guys can handle,
23:31the constraint is sales. And so whenever
23:33you have a pi- whenever you have a
23:35pipeline, as long as you have no supply
23:37constraint, any increase on any like you
23:40could get your page to convert better.
23:41You could get your ads click-through
23:42rate to go up. You could All of these
23:43things will yield an increase in
23:46throughput if you're not supply
23:47constrained. But the choke point of the
23:49business is sales, cuz if you improve
23:51your landing page, they're booked out.
23:53If you improve your ads, they're booked
23:54out. There's nothing you can do here. So
23:55this is the rate limiter. So we do this,
23:58and then we can we can basically push
23:59more the front end. So the second step
24:01would be increasing the marketing. The
24:02first is we have to increase sales
24:03capacity.
24:04>> Fix that.
24:04>> Yes.
24:06>> All right.
24:07>> This was good. [laughter] This was fun.
24:09>> Yeah, thank you.
24:10>> Hi. My name's Ben.
24:12We sell financial planning to
24:13high-income accumulators in Australia.
24:16We're currently around $8 million in
24:19revenue and looking to double that to
24:21$16 million by the end of our next
24:23financial year, which is
24:24>> What do you sell to high-income earners?
24:25What was it?
24:25>> Financial planning.
24:26>> Okay, got it. Sorry.
24:27>> Uh
24:28and so
24:30my my So it's my overarching question is
24:32about uh in the last 12 months, we have
24:35doubled our team, and that sort of
24:36compressed our margins, so the the
24:38profitability has not been great. Um I'm
24:40looking at all of the disruption that's
24:42coming through with AI and technology,
24:44and we're currently very uh
24:47labor-intensive delivery model. Every
24:48financial advisor has two support staff.
24:51Um and that means we've got a we've got
24:5210 advisors, so we've got a 30-person
24:54team
24:55to do that delivery. We have started
24:57investing in our technology. So, we
24:58started a development team.
25:00Um we've now uh we've got two offshore
25:02devs, and we've just hired a uh like a
25:05lead engineer in in Australia. Um but
25:07the question is how how much do we uh
25:11invest in in sort of uh growing out the
25:13team and the business versus trying to
25:15take some cash off the table and stock
25:17the war chest given all of the
25:18disruption that's coming.
25:22>> [sighs]
25:25>> It's funny cuz the way that you thought
25:26about it, I think about it differently,
25:28which is like
25:30I like the war chest you would spend to
25:34future-proof the business.
25:35[clears throat]
25:36So, I wouldn't wait to future-proof the
25:38business. I would want to future-proof
25:39it now.
25:40>> I I wouldn't say that we're waiting. As
25:42I said, we're investing in that tech,
25:43but it's like how future-proof is any
25:45business with with, you know, AI and how
25:48quickly it's progressing?
25:48>> I think So, I think AI is moving very
25:50quickly. I don't think adoption among
25:52humans is going to change.
25:55Like humans are still humans. And so,
25:56the adoption, right? Like people who are
25:58really smart and work really hard will
25:59get more than they did before because
26:01the tech is better.
26:02And so, as as since the dawn of time, it
26:06has been man plus tools against man plus
26:09tools. And so, as long as it's man plus
26:11tools versus man plus tools, then that's
26:12the game we've always been playing. As
26:14soon as it's tools versus man, we're all
26:16[ __ ] And so,
26:18but I don't we're not there.
26:20Um and so, I want to solve the problems
26:22that I have today with an eye for
26:23tomorrow, meaning
26:25um
26:26in a future state, let's say 18 months
26:28from now, if you could keep your head
26:29count the same, but then take on two or
26:31three times the customers, that would be
26:32a W, right?
26:34>> 100%.
26:34>> That's achievable today.
26:36>> Yeah, that's what we're working on.
26:37>> right. And so, I think that the
26:39allocation of resources towards
26:40achieving that feels like the right
26:42idea.
26:43If in the short term you bring on other
26:46advisors because it's going to generate
26:48more revenue for the business, I don't
26:49see that as necessarily detracting. Like
26:51we still need to do business,
26:52um but we're just rapidly trying to
26:55um
26:56build up the infra- that basically the
26:57tech infrastructure
26:59we're doing this, right? Um we're still
27:01hiring people. We're just being very
27:03specific about where we're hiring. So
27:04like our media team for example has
27:06tripled output and the head and the head
27:08count has stayed close to the same.
27:10Um
27:11in some roles
27:13uh
27:14like for example SDRs, we're still
27:17hiring humans because human is still
27:19better than the best AI that that's been
27:22that we've that we and we've been
27:23working on the voice AI for 2 years. Um
27:25we do have an AI text agent um that
27:28sells around 200 units a month.
27:32Just one
27:33one agent. Uh and so like there's
27:35there's things it's in pockets and it's
27:37just making sure that you're the first
27:39one to get into those pockets and kind
27:40of explore. Um I do think that there's
27:43this I I'm not just talking I'm talking
27:44to everybody. Um
27:48I would encourage you to not be fearful.
27:50>> Mhm. It's just like that uh
27:53yeah, it's like how how much cuz we
27:54could we're sort of um
27:56we've got a good reputation in the
27:58marketplace. I can see all these
27:59opportunities and like I could go
28:00incredibly hard at this but then the
28:02same time sort of just a little bit
28:04cautious to go and have you know close
28:06to zero margin to
28:08fully you know go hard.
28:10>> So the question that you ask is one
28:12question that no
28:14there is no right answer to. So there's
28:16a handful of like those which is
28:18uh you know do I push or do I pivot? Do
28:20I invest or do I spend? Like these are
28:22entirely personal questions and the one
28:24that you're asking is about risk.
28:26Which is how much risk tolerance. If you
28:27ask Elon he would be like go all in
28:28sleep on the [ __ ] couch I don't give
28:29a [ __ ] right? I'm just saying. He has
28:32one of he has one of the highest risk
28:33tolerances of all entrepreneurs out
28:34there. Um independent what you think
28:36about you know who he is or whatever. Uh
28:38objectively from an entrepreneur's
28:40entrepreneurship perspective his risk
28:41tolerance is sky high. There's other
28:43people who have been in the same
28:44situation and said I'm going to take
28:45some chips off the table. I'm going to
28:46take care of my my family, make sure
28:48that they're set up. What's the right
28:49answer?
28:50>> Mhm.
28:51>> If you're right, that was the right
28:53answer. If you're wrong, that was the
28:55right answer.
28:56Um and so
28:57>> I'll be right or wrong, though.
28:59>> Right. I mean,
29:00I I'll say that for me personally, I on
29:04the earlier part of my career, I
29:05aggressively saved to put my own oxygen
29:07mask on so that I could take big [ __ ]
29:10swings later.
29:11And so that's basically been that's been
29:13my operating model. So, when I was
29:15making 20,000 a month, I was living on
29:17500.
29:19Um and when I was making a million a
29:20month, we were living on like 10 or 15
29:21grand. Um and that has basically
29:24continued to scale up um because I
29:26always feel like the future is going to
29:27be brighter than the past and I want to
29:29be there ready to to crush it and not be
29:32able I want to be able to swing at a fat
29:33pitch when it comes.
29:35>> Okay. Thank you.
29:38>> [applause]
29:42>> What's up, Alex?
29:43>> And I'll impose one thing back to your
29:45point, which is like I think
29:47this may be relatively controversial,
29:48but I believe that most entrepreneurs'
29:50lifestyle is their greatest risk more
29:52than the risk they take in the business.
29:53And because your lifestyle is basically
29:55the outside of business fixed costs of
29:56surviving. And so, if if you're if your
30:00fixed cost of living, like basically, if
30:02you're like super optimizing on this
30:04side to pinch every penny and then over
30:06here you just blow all your money, to
30:07me, it's all
30:09>> connected.
30:09>> Yeah, it's all one like for most of us
30:11own the majority of our businesses, if
30:13not all of them, in which case it's all
30:15one bank account, you know? It's all
30:17daddy's bank.
30:18>> [laughter]
30:18>> Right?
30:19And so, making like I see them as
30:21blended and I think many people take are
30:23so risk averse here because they take so
30:26much risk here and this risk has no ROI.
30:29>> Hey, Alex. My name is Will.
30:31I am a teen life coach.
30:34>> Cool.
30:34>> It's kind of the the buzz term, super
30:36cringey for kids. Essentially, we're
30:37mentors for middle school and high
30:38school kids.
30:39>> Yeah.
30:39>> Uh Uh, we sell to parents, obviously.
30:41They do not pay for their co- own
30:43coaching. Uh,
30:44>> we do 2.2 in revenue. I'd love to be
30:47somewhere like five by the end of next
30:49year.
30:50Um,
30:51as of right now, we have more demand on,
30:54especially on the boys side, than we
30:55know what to do with.
30:56>> Good niche, man.
30:57>> So, that's great.
30:58>> even a niche. It's like everyone, but
30:59still great.
31:00>> Yeah.
31:00>> You're the first person I've heard even
31:01talk about it. And it's it's and it's
31:03crazy to even think about it. Like
31:04you're thinking about this. You're like,
31:05"Yeah, all Is it men or is it both?"
31:07>> It's both.
31:08>> Okay.
31:08>> But, we have so much more demand for the
31:10boy side.
31:11>> Okay.
31:11>> Um, so yeah, it's super awesome. Turn is
31:13super low. You know, we have great trust
31:15relationships with parents. Um, our ban-
31:18our bottleneck is actually coaches at
31:20this point. Um, so we've only tried to
31:22scale for like the last 16 months. I did
31:24it for myself for like three or four
31:25years.
31:26Um, so I haven't really tapped into
31:27different pipelines of how we can find,
31:30you know, male coaches.
31:32Um, so that's my first question is just
31:34where does your mind go if I ask, "Where
31:37can we recruit, you know, cuz
31:3920 to 30-year-old
31:42mentors?" I mean, that's kind of our
31:43team.
31:44>> Yeah.
31:44>> Um, and so kind of yeah.
31:46>> degrees or just looking for great?
31:49>> I think we offer the best coaching for
31:51team coaches. So,
31:52they have a certification that they get.
31:54>> So, when I'm trying to find kind of like
31:56an avatar for a specific role, I try and
31:58map behaviors rather than titles. And so
32:01it's like, "What are the micro behaviors
32:02that a
32:04I'll call it I don't want to say
32:05therapist, but whatever, life coach has
32:07to do?" And then what roles exist that
32:10have the highest crossover with that
32:12already so that my skill gap that I need
32:13to train is as small as possible. And so
32:15like my the first thoughts that came to
32:16mind was like camp counselors probably
32:18have a bunch there.
32:20Um, I thought also like
32:22uh, rec, you know, coaches. I think
32:24there's probably some there. I'll bet
32:25you there's a bunch of teachers that are
32:27young and underpaid and would love to
32:28work from home and probably got into
32:30teaching for that more than they got it
32:32for sixth grade history.
32:34Um, and so I think there's a huge amount
32:36of opportunity. Like if you just look
32:37for those three buckets, there's endless
32:39amounts of all three of those. What
32:40stops you from doing that?
32:42>> Um no, you're exactly right. Nothing
32:44really at all.
32:45>> Okay.
32:45>> Um it's just
32:46>> Love this word.
32:47>> more of Yeah, yeah, exactly. Uh it's
32:49that I Yeah, I never even tried. So, I
32:51mean,
32:52where do you find those people? Just go
32:53out and try to connect with them.
32:56>> I mean, there's so many ways you can do
32:57it. I'll I'll give you a three off the
32:59top of my head. Um
33:00one is LinkedIn has all over their
33:02titles, and you can search for that and
33:04then mass blast them, and that's number
33:06one.
33:07Uh number two, you go to uh forums
33:09[snorts] that teachers are in, and you
33:11can either pay the person who owns the
33:12forum, or you can join it. Usually,
33:14you'll pay, or you can do it for free
33:15because for them, giving job
33:17opportunities a value add uh for their
33:19community. So, they're going to have I
33:21mean, that's where it can get Like, just
33:23finding one or two forums might be
33:24literally all you need. Um number three
33:26is you can obviously just run ads
33:28targeting teachers. Um
33:30that's like all three of those will
33:32work. Like, I do not think you'll have
33:33an issue finding talent.
33:35>> Just got to
33:35>> [laughter]
33:35>> go do more.
33:36>> Yeah, what I would encourage you to do
33:37though is I think you're going to get so
33:38much volume. Uh the next basically
33:40problem that you're going to have is you
33:41need to build out um basically the
33:44attraction system, attraction conversion
33:46system. So, you have the training side,
33:47right? Which is the training and
33:48onboarding. But, we still need the
33:50basically click to close
33:51um built out for teachers. Because as
33:54you scale this cuz you have more demand
33:55than you can handle, right? You're on
33:57You're on here, right? And so, we're
33:58going back to the top, and so we
34:00basically need to build the funnel and
34:01collect the metrics so that we can What
34:03you want to get to is an LTGP to CAC
34:06ratio. So, our CAC. So, cost of
34:08acquiring talent versus lifetime gross
34:09profit per employee. And so, it's the
34:12same as LTV to CAC, but on the on the
34:14supply side for team. And so, once you
34:16have that, then you just know that you
34:17have dollars and dollars out here,
34:18dollars and dollars out here, and then
34:19you just
34:20>> Yeah. Yeah. I guess a second question
34:22there, I have a a personal brand on
34:25social media. Um and a lot of my
34:27audience is requesting things like books
34:29and public speaking. Do you say screw it
34:33to those things and you just do more on
34:35what we know work or do we like
34:37entertain that all?
34:38>> would just more of what works.
34:40You're already overwhelmed, why would
34:41you do more?
34:42>> Uh yeah, very overwhelmed with different
34:45options.
34:45>> I have so much demand so I think I'm
34:47going to go get more. It's like but I
34:48don't think that's
34:49>> Well, I guess it's more more scalable
34:51products for the demand that I have
34:53while they wait for one-on-one coaching
34:54to
34:55to
34:56you know.
34:57>> I So, you asked a strategic question
34:59which is what business do I want to
35:00build?
35:01Um if there's like
35:05obviously the more valuable version of
35:06your business is productizing this with
35:08an AI mentor or something like that.
35:10That would be the most valuable version
35:11of the business. That's also going to
35:12transform your business from a service
35:13business to a technology business which
35:14is not necessarily my recommendation but
35:17that's what would happen. And so, I
35:19think you need to pick who you want to
35:21be in terms of like the service
35:22delivery.
35:23Um I'll bet that being pro-human will
35:26probably be do really well from a
35:27messaging standpoint for a while to
35:29parents. That's my guess. Um
35:31And so, uh I think that you're in a
35:33really good service business and I'm
35:35guessing you have decent margins.
35:37>> Great margins.
35:38>> Great.
35:39>> Good good margins.
35:40>> [laughter]
35:42>> Uh yeah yeah you have great margins, you
35:45have demand, and you have a product
35:47that's like you have everything. We just
35:48need to do more.
35:50>> Do more. Thank you.
35:51>> All right. My name is Swin Burn. Um we
35:52sell IT management services to small to
35:55medium-sized enterprises. We're ranging
35:57from 30 to 100 um staff sizes. That's
36:00our sweet spot.
36:01>> Okay.
36:01>> For fully managed.
36:02>> What's the average ticket?
36:04>> Uh
36:047,500.
36:06>> For a month? Okay.
36:08>> Three-year contracts.
36:09Um we do currently do 2 million a year
36:13in revenue and I'd like the company to
36:15be at 10 million minimum by 2030.
36:19>> All right.
36:20>> Um what's stopping me is the I the fact
36:25that I never took sales and marketing
36:27seriously in the company, of course.
36:29>> Me neither.
36:30>> Um so so
36:31>> [laughter]
36:31>> so the sales department is non-existent.
36:33The marketing department is fairly
36:35non-existent. Only this year we locked
36:37arms with a a marketing agency that's
36:40actually looking promising. All the
36:42others sucked.
36:44Um
36:46and
36:48I have another constraint which is um I
36:50sit in too many different seats
36:53>> Okay.
36:53>> of the business. So any sales that comes
36:56in, I have to close it. Um I'm involved
36:59on the finance side. I'm involved on the
37:02operations side. So
37:04>> Rate limiters, there's always a rate
37:06limiter, not many rate limiters. So what
37:09is the rate limiter?
37:11The constraint.
37:14I know you know this, so I'm going to
37:15wait for it. Okay, great. So underneath
37:16of the demand, is it lead gen or is it
37:18conversion?
37:20>> Lead gen.
37:21>> Okay, great. So currently, how do you
37:25get your leads?
37:31>> We're not doing anything right now.
37:33>> Okay. But you get you get leads from
37:34somewhere though, right? All word of
37:36mouth?
37:37>> Yeah, we don't really get any referrals.
37:40Um
37:41we're not doing anything. Where
37:43[laughter]
37:45A website.
37:47Website. SEO.
37:48>> People come through your website. So
37:49SEO.
37:50>> Yeah.
37:51Sorry.
37:51>> That's a thing.
37:52>> [laughter]
37:55>> Great.
37:56Okay.
37:57So uh you're doing SEO, okay, got it.
38:01Um
38:01and are you the one who's doing the SEO?
38:04>> No, that's from the new um marketing
38:06agency, yeah.
38:08>> Since they spun up, have you been
38:10getting leads through your website that
38:11you weren't getting before?
38:13>> Yes, I would say so. We've had uh
38:15probably 10 first-time appointments, um
38:18six of which were not qualified. Okay.
38:20Really small shops. Um
38:23>> Did you close one of the other four?
38:24>> No, they but that's still ongoing
38:26conversations.
38:27>> Okay.
38:27>> It's one thing about my industry is that
38:28the sales cycle is a little longer
38:30because of multi-year contracts.
38:32>> Yeah.
38:32>> Yeah.
38:33>> Okay. Uh so SEO is kind of a slow grow.
38:37Um it's a snowball. So I would say keep
38:39doing it. The fact that you have 40% of
38:40people are getting on the call are
38:42qualified is for especially for your
38:44level of customer 30 to 100 is good.
38:46Like I they're doing it right. Um
38:50if you want to decrease kind of the the
38:52bad calls if you will, just make sure
38:54that they
38:55fill out something prior to the call
38:56that get like how many you know how many
38:58employees you have. If you know that
38:59they don't qualify, you can just cancel
39:00the call.
39:00>> Right.
39:01>> Um so that'll just like save you some
39:02time. It's just like an easy tactic. Um
39:04but beyond that, you'll have to make the
39:06decision of um core four. Which have you
39:09read the Leads book?
39:11You're brand new.
39:11>> Okay. Um [laughter]
39:13great book.
39:14>> Um
39:16>> Solves this particular issue. It's
39:17called Leads.
39:19And so uh we can either get you can
39:22either find affiliate partners. So
39:23basically people who already have the
39:24customers that you want. Number one.
39:26Number two, uh we can run paid ads.
39:29Right? So an easy one would be PPC
39:32probably for you. I think it's easier to
39:33start with PPC than um
39:36than social. Just because there's less
39:38creative and the leads are warmer. The
39:40downside of PPC is that uh lead costs
39:43are higher. So you have to have a more
39:44dialed sales motion.
39:46So that's kind of the trade-off.
39:48Um the value of the social media ads is
39:51that you sell in a vacuum because people
39:52don't wake up and think I'm going to buy
39:54IT services today. But if they see an
39:56ad, they're like I [ __ ] hate my IT.
39:58Then they want to buy it, right? And so
40:00you create the demand, whereas PPC more
40:02channels the demand. It's already it's
40:03already coming and you're trying to take
40:05off your little piece.
40:06>> Okay.
40:06>> And so
40:07with PPC and this goes for everybody
40:09especially the home services guys will
40:10nod their head knowing this. PPC it's
40:11like the speed to lead matters more than
40:15anything.
40:16Like you have to be getting the leads
40:17within 60 seconds.
40:19>> That's good.
40:20Or you will Getting to the lead?
40:22>> Yes.
40:23>> Okay.
40:24>> Well, not physically, but like
40:26>> [laughter]
40:27>> Psychic.
40:27>> Yeah, yeah.
40:29Uh yeah, you have to you have to you
40:30have to double dial text within within
40:3260 seconds. Cuz you will like PPC is
40:35super competitive. You will lose to
40:36somebody else who is, period. Meta, you
40:38can get away with about 5 minutes.
40:40>> Okay.
40:43One of the um
40:44coaches advised hiring two sales people
40:47to start with.
40:47>> Coaches?
40:49>> Um
40:50I guess what your team is called.
40:51>> team? No, we have no coaches, but good
40:53to know. Okay, keep going. Yeah, yeah.
40:54>> [laughter]
40:55>> I was like, we have no coaches here.
40:56>> What?
40:57>> Yeah.
40:57>> What do you call them?
40:58>> Advisors, yeah.
40:59>> Advisors, sorry. Yeah, advisors said
41:01hire two sales people.
41:02>> Yeah.
41:04>> I mean, you're going to help me out with
41:05this anyways, right? Cuz I signed up for
41:07this thing.
41:07>> There we go.
41:08>> Yeah.
41:08>> [laughter]
41:09>> He's like, I did it.
41:11Yes.
41:12Um
41:13so, we what we're going to do like this
41:15is what next steps are going to look
41:17like. Here's your mini onboarding.
41:19>> [snorts and laughter]
41:20>> We're going to have to pick which
41:21channel we're going to pursue. So, are
41:22we going to do PPC? Are we going to do
41:24meta? Are we going to do affiliates?
41:25It's probably the most likely. I don't
41:26Do you want to start making LinkedIn
41:27content?
41:30>> If you think it's a great idea.
41:31>> Well, the thing is is all of these There
41:33are many ways up the mountain. All of
41:34them will work. The thing is we just
41:35have to pick one and we just stick to
41:37it. Like you could be a mega LinkedIn
41:39IT, you know, person and get and then
41:41the comments underneath and then that
41:42goes into kind of a more chat based or
41:45uh sales driven process. You could make
41:47um
41:48you could go and do outbound to get
41:50affiliates, people who are centers of
41:51influence, a different term for that.
41:53People who already have all the customer
41:54base and basically make some sort of
41:55deal, kind of like I was saying earlier
41:56with the teacher forum. That's it, an
41:58affiliate strategy, but on the supply
41:59side rather than the demand side, but it
42:01works the same way.
42:01>> Right.
42:02>> Um the uh PPC strategy um that we that I
42:07that I talked to, the agency that's
42:09doing SEO, do they do PPC? Most do.
42:11>> They they do. They haven't gotten to
42:13that um part as yet, but they do.
42:15>> Yeah. So, we'll want to dial the SEO.
42:18Basically,
42:19the way we're going to fix this is
42:21offer, [clears throat]
42:22sales motion, traffic.
42:24That'll be the order.
42:25>> Mhm.
42:26>> So, that's what we're going to do. It's
42:26more than I can say right now, but like
42:27that's the process.
42:28>> Okay.
42:30>> Cuz right now you probably have a warm
42:31traffic offer, which is like just buy
42:32our [ __ ] which only works when people
42:34already know your [ __ ] and already know
42:36somebody who buys your [ __ ] already. Uh
42:37if they've never bought your [ __ ]
42:39they're going to be like, "What the [ __ ]
42:40is this?"
42:41And you're like, "It's great shit." And
42:42they're like, "I don't believe you.
42:43You're full of shit."
42:44Um
42:45>> [laughter]
42:46>> And so, you're like, "Well, try my [ __ ]
42:46first." Uh and here's this amazing
42:48offer. And they're like, "Okay, now I
42:50want to buy your shit." So,
42:51uh so, we we have to transform a warm
42:54acquisition process to a cold
42:55acquisition process.
42:56>> Right.
42:57>> And this goes for literally everyone
42:58here.
42:59The vast majority of people who are
43:01referral-based or content-based. So, who
43:02here gets the majority of your business
43:04from content?
43:06Okay. Almost thirdish. Okay.
43:09Um if you're content-driven, typically
43:11you have a warm traffic acquisition
43:13channel or acquisition motion, but as
43:16soon as you start scaling to cold,
43:17you're like, "Everything's [ __ ]
43:18Nothing's working." And it's because you
43:20have the wrong motion for the traffic
43:21that's coming in. And so, basically, you
43:23need to build a microwave to turn cold
43:24into hot, and then you can do the
43:26motion, but you have to put more
43:27friction to make the heat.
43:30>> Okay.
43:30>> Does that make sense? You actually It's
43:32counterintuitive. You end up actually
43:33adding steps to a sales process with
43:34cold to make it warm.
43:36>> Okay.
43:37Um on the on the
43:39>> I know that applied to more than just
43:41you, so I'll keep going.
43:42>> On the bandwidth side, so I'm in many
43:44different seats. Should I be waiting on
43:49the sales and marketing side of things
43:51to be um on fully on boarded and ramped
43:54up before hiring sales people?
43:56>> I am a I'm a big advocate of the founder
44:00knowing how to sell.
44:02>> Okay.
44:02>> Because think if you think about a
44:04business, like if you cannot collect
44:05money, you do not have a business.
44:08>> Mhm.
44:08>> Like you will not make money if you do
44:09not know how to collect it. And so, I
44:11see like what are the core things that I
44:13never outsource? I never outsource
44:15acquisition. So, basically um traffic,
44:18conversion, delivery. I'm happy to
44:20outsource legal, accounting,
44:23um insurance like I all these other
44:25components that are not the things that
44:27touch my customer, right? I want to
44:29frame I want to make sure that the
44:30messages that they're seeing I'm the one
44:31in control, the conversion events
44:33themselves I am in control of this
44:35process and the thing that I deliver.
44:37Those are the That's what makes a
44:38business a business, in my opinion. And
44:39so, that's what I want to own and
44:40specifically for you, especially as a
44:42smaller business, um knowing how to sell
44:45will never make you less money.
44:47>> Mhm.
44:47>> Because you're going to have to sell
44:48your team, you're going to have to sell
44:49recruits, like and the better you get at
44:50sales, the more you'll get better at
44:51marketing. Because you getting on these
44:53calls, I promise you will make the
44:55marketing that you're doing work better.
44:57Because if you don't know how to sell,
44:59it's the easiest the easiest, believe it
45:01or not, even if you don't feel like a
45:02salesperson,
45:04um
45:05you will always close better than anyone
45:07else because you'll be more convicted
45:09and you'll have more knowledge. So, you
45:10have two massive advantages over any
45:11salesperson.
45:12You can also make [ __ ] up on the fly, uh
45:14which they can't do
45:16cuz you're going to be figuring it out.
45:17Um and so, once you nail it, then you're
45:21going to duplicate that with somebody
45:23else. If somebody else is coming in,
45:24it's the set of thing I said earlier
45:25about two news. I don't want new
45:27process, new person.
45:29So, you've been in the business, you
45:30know as much as possible. I trust that
45:31you will you will kill yourself to
45:33figure it out. I don't trust that
45:35somebody who doesn't have the skills
45:36will kill themselves and figure it out.
45:37>> Right.
45:37>> So,
45:39new new process, old person, we get the
45:42process dialed, then we have an old
45:44process because we figured it out, and
45:46then we can introduce the new person.
45:48>> Got you.
45:48>> Then you won't have that time constraint
45:50anymore, and then you can start solving
45:51the other pieces.
45:53>> Got it.
45:54Thank you very much.
45:55>> If you like this video and you're a
45:55business owner who wants to break
45:56through your current revenue ceiling, I
45:58distilled every lesson from scaling 10
45:59businesses past 10 million and three
46:01businesses past 100 million into a
46:03completely free scaling roadmap that
46:05I've used to go from zero to one, zero
46:06to 10, and zero to 100 plus. And so you
46:09can click here and you can check it out.
46:10Again, absolutely free and since your
46:12business owner appreciates you and
46:13enjoy.

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