Why This $90K Agency Can't Hire Its Way Out — Transcript

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1. 0:00I don't even know where to start. It's
2. 0:02>> one question. I'll try and answer that
3. 0:03one.
4. 0:05>> When you were
5. 0:09in the process of pivoting with the
6. 0:11model for gym launch and you were trying
7. 0:13to just like
8. 0:16get money together to even make it to
9. 0:18the next thing. That's exactly where I'm
10. 0:20at.
11. 0:21>> Sweet.
12. 0:22Fun.
13. 0:22>> Like I have
14. 0:24reread and watched and researched like
15. 0:27everything you've ever done regarding
16. 0:28that cuz it's just I I feel a boss upon
17. 0:32because
18. 0:33I mean
19. 0:34>> What do you do right now?
20. 0:39>> I need to have people
21. 0:41so that it is not solely me.
22. 0:43>> What does our do by the way? What do you
23. 0:45sell?
24. 0:45>> I'd say paid advertising agency for
25. 0:48cannabis.
26. 0:49>> For cannabis? Okay, got it. Okay.
27. 0:52Tough.
28. 0:53>> Yeah,
29. 0:54but that on the flip side of it being
30. 0:55tough
31. 0:56that's why there's there's so much
32. 0:58leverage with that.
33. 1:00I bet. There's a ton of
34. 1:02>> the issue? What's the problem?
35. 1:04>> Uh
36. 1:06me.
37. 1:07>> Oh, yeah, sure. It's always you, but
38. 1:09like what's the what's the business
39. 1:10problem? Like is it not make cuz you're
40. 1:12like I need to make all this money but
41. 1:13like are you not profitable? Are you
42. 1:15like
43. 1:15>> profitable. However, it's just not well
44. 1:17I haven't done enough for the profit to
45. 1:19just exist in a lump sum enough to be
46. 1:22able to like pay for people cuz I've
47. 1:24been
48. 1:25>> I actually don't know what that means.
49. 1:26>> Well, I've been actively doing this for
50. 1:28like 4 months. So it's I've brought
51. 1:31money in
52. 1:32>> Okay.
53. 1:33>> but
54. 1:34>> So you do what?
55. 1:35>> I've never had payroll, never done any
56. 1:37of that, never hired anybody. It's all
57. 1:40those soft skills and just having and
58. 1:42working through the anxiety of getting
59. 1:44through that first hire.
60. 1:45>> What's what's revenue right now?
61. 1:48>> Revenue is 600k.
62. 1:50>> Okay. Okay, got it. Um
63. 1:54>> However
64. 1:54>> Okay.
65. 1:57>> That is the literal metric, but I
66. 1:59collect ad spend
67. 2:01for that. So, actual profit would be
68. 2:04like 90 90 100k a year.
69. 2:05>> Okay. Yeah. So, okay. So, this will So,
70. 2:09you got to sit in this room um and have
71. 2:12some different different conversations.
72. 2:13I'm going to be super direct with you.
73. 2:15You don't need to worry about anything
74. 2:17you just said.
75. 2:17>> Yeah.
76. 2:18>> Like
77. 2:19you have 90k a year that you have to
78. 2:21work with. You have no room to hire
79. 2:23people. You either need to fix your
80. 2:24model
81. 2:26uh because if I'm guessing you're
82. 2:27working all the hours of the day to make
83. 2:28the 90k.
84. 2:29>> Yeah.
85. 2:29>> Right. Which means the model's broken.
86. 2:32So, you can't hire more people because
87. 2:34you basically you the most valuable
88. 2:36employee in the business
89. 2:38like the founder is always going to be
90. 2:39the most valuable person in business,
91. 2:40especially day one when there's no one
92. 2:41else.
93. 2:42So, you
94. 2:44need to get to a point where you're like
95. 2:45you should be able to make way more than
96. 2:48what you need so that you have room to
97. 2:49hire other people who can help you.
98. 2:51And so, right now you don't have a
99. 2:53people problem. You have a model
100. 2:54problem. Which means that the way that
101. 2:56you're charging or billing the cannabis
102. 2:57people, you're either offering too much
103. 2:59for them. Well, it's really you're just
104. 3:01like you're offering too much for too
105. 3:02little. Fundamentally, that's what it is
106. 3:03cuz either you need to be working way
107. 3:05less to be making the money you are and
108. 3:07be like, "Shoot, I could take 10 times
109. 3:09the customers I need more customers." Or
110. 3:11you should be charging way way more for
111. 3:14where you're at and be like, "Okay, well
112. 3:15I'm making 10 times more than I am right
113. 3:17now and now I can go afford people."
114. 3:20That's it. So, either you need to do
115. 3:22you need to
116. 3:23work on how you do delivery to make it
117. 3:2410 times more efficient or make it so
118. 3:27that how much you make
119. 3:29you make 10 times more per customer.
120. 3:31Cool. You're doing.
121. 3:32>> I understand.
122. 3:33>> It's by about a factor of 10.
123. 3:34Like I think if you came here and you're
124. 3:36like, "We're doing about 900,000 a year
125. 3:38and it's just me." I'd be like, "Okay,
126. 3:39cool. Let's start hiring some people."
127. 3:40That makes sense.
128. 3:41>> I get it.
129. 3:42>> Um Hm?
130. 3:43>> I I get it. It's just I I I didn't know
131. 3:46that the question was
132. 3:47>> dude.
133. 3:47>> No, no, no. I'm No.
134. 3:49>> And I was Dude, you're You're You're
135. 3:50good. I'm trying to help you where
136. 3:51you're at.
137. 3:52>> Thank you.
138. 3:52>> Do Did you get what I'm saying though?
139. 3:54Forget about that. Do you get what I'm
140. 3:54saying?
141. 3:55>> Yes.
142. 3:55>> So, you just need to 10x the price that
143. 3:57you're charging for what you're
144. 3:58currently doing, or make how you deliver
145. 4:00what you're doing 10 times more
146. 4:01efficient.
147. 4:02>> Understood.
148. 4:03>> That's it. Otherwise, the model is not
149. 4:04going to work.
150. 4:05So, trying to scale what you're
151. 4:06currently doing is a bad idea.
152. 4:08You need to fix what you're currently
153. 4:09doing so that you can scale it.
154. 4:11>> Okay.
155. 4:11>> Cool.
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