Your Best Hire May Have a Different Job Title — Transcript

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1. 0:00Hey Alex, my name is Will. I am a teen
2. 0:03life coach. It's kind of the the buzz
3. 0:06term, super cringey for kids.
4. 0:07Essentially, we're mentors for middle
5. 0:09school and high school kids.
6. 0:09>> Yeah.
7. 0:10>> Uh we sell to parents, obviously. They
8. 0:12do not pay for their co- own coaching.
9. 0:14Uh we do 2.2 uh in revenue. I'd love to
10. 0:17be somewhere like five by the end of
11. 0:20next year.
12. 0:21>> Um as of right now, we have more demand
13. 0:24on especially on the boy side than we
14. 0:26know what to do with.
15. 0:27>> Good niche, man.
16. 0:27>> So, that's great.
17. 0:28>> a niche, it's like everyone.
18. 0:29>> So great.
19. 0:30>> Yeah.
20. 0:30>> You're the first person I've heard even
21. 0:32talk about it.
22. 0:33>> Yeah.
23. 0:33>> And it's it's and it's crazy to even
24. 0:34think about it. Like you're thinking
25. 0:35about this, you're like, yeah, all Is it
26. 0:37men or is it both?
27. 0:38>> It's both.
28. 0:39>> Okay.
29. 0:39>> But we have so much more demand for the
30. 0:40boy side.
31. 0:41>> Yeah.
32. 0:41>> I get it.
33. 0:42>> Um so, yeah, it's super awesome. Churn
34. 0:44is super low. You know, we have great
35. 0:45trust relationships with parents. Um our
36. 0:48ban- our our bottleneck is actually
37. 0:50coaches at this point. Um so, we've only
38. 0:52tried to scale for like the last 16
39. 0:54months. I did it for myself for like
40. 0:55three or four years.
41. 0:57Um so, I hadn't really tapped into
42. 0:58different pipelines of how we can find
43. 1:01you know, male coaches. Um so, that's my
44. 1:03first question is just where does your
45. 1:05mind go if I ask where can we recruit,
46. 1:08you know, it cuz
47. 1:0922 to 30-year-old mentors, I mean,
48. 1:13that's kind of our team.
49. 1:15>> Yeah.
50. 1:15>> Um and so, kind of like
51. 1:17>> degrees or just looking for great?
52. 1:19>> I think we offer the best coaching for
53. 1:21teen coaches. So, um they have a
54. 1:23certification that they give them.
55. 1:25>> So, when I'm trying to find uh kind of
56. 1:27like an avatar for a specific role, I
57. 1:28try and map behaviors
58. 1:31rather than titles. what are the micro
59. 1:32behaviors that a
60. 1:34I'll call it I won't say therapist, but
61. 1:35whatever, life coach uh has to do. And
62. 1:38then, what roles exist that have the
63. 1:41highest crossover with that already so
64. 1:42that my skill gap that I need to train
65. 1:44is as small as possible. And so, like my
66. 1:46the first thoughts that came to mind was
67. 1:47like camp counselors probably have a
68. 1:49bunch there.
69. 1:50Um I thought also like uh
70. 1:52rec, you know, coaches. I think there's
71. 1:54probably some there. I'll bet you
72. 1:56there's a bunch of teachers that are
73. 1:57young and underpaid and would love to
74. 1:59work from home and probably got into
75. 2:01teaching for that more than they got it
76. 2:03for sixth grade history.
77. 2:04Um and so I think there's a huge amount
78. 2:06of opportunity like if you just look for
79. 2:08those three buckets, there's endless
80. 2:09amounts of all three of those. What
81. 2:11stops you from doing that?
82. 2:12>> Um no, you're exactly right. Nothing
83. 2:15really at all.
84. 2:16>> Okay.
85. 2:16>> Um it's just more of Yeah, yeah,
86. 2:18exactly. Uh it's that I yeah, I never
87. 2:20even tried. So I mean,
88. 2:22where do you find those people? Just go
89. 2:24out and try to connect
90. 2:26>> a number I mean, there's so many ways
91. 2:27you can do it. I'll I'll give you three
92. 2:29off the top of my head. Um
93. 2:31one is LinkedIn has all over their
94. 2:33titles and you can search for that and
95. 2:35then mass blast them and that's number
96. 2:36one.
97. 2:37Uh number two, you go to uh forums that
98. 2:40teachers are in and you can either pay
99. 2:42the person who owns the forum or you can
100. 2:43join it. Usually you'll pay or you can
101. 2:45do it for free because for them giving
102. 2:47job opportunities a value add
103. 2:49uh for their community. So you're going
104. 2:51to have I mean, that's where it can get
105. 2:53like just finding one or two forums
106. 2:54might be literally all you need. Um
107. 2:56number three is you can obviously just
108. 2:58run ads targeting teachers. Um
109. 3:01that's like all three of those will
110. 3:02work. Like I I do not think you'll have
111. 3:04an issue finding talent.
112. 3:05>> [snorts]
113. 3:05>> you just got to go do more.
114. 3:06>> Yeah, what I would encourage you to do
115. 3:08is I think you're going to get so much
116. 3:09volume. Uh the next basically problem
117. 3:11that you're going to have is you need to
118. 3:12build out um basically the attraction
119. 3:15system attraction conversion system. So
120. 3:16you have the training side, right? Which
121. 3:18is the training and onboarding. But we
122. 3:19still need the basically click to close
123. 3:22um built out for teachers because as you
124. 3:24scale that cuz you have more demand than
125. 3:26you can handle, right? You're on you're
126. 3:27in here, right? And so we're going back
127. 3:29to the top and so we basically need to
128. 3:31build the funnel and collect the metrics
129. 3:32so that we can What you want to get to
130. 3:34is an LTGP to CAC ratio. So our CAC, so
131. 3:38cost of acquiring talent versus lifetime
132. 3:40gross profit per employee. And so it's
133. 3:42the same as LTV to CAC but on the on the
134. 3:44supply side for team. And so once you
135. 3:46have that, then you just know that you
136. 3:48have dollars in dollars out here,
137. 3:49dollars in dollars out here and then you
138. 3:50just
139. 3:51>> Yeah. [snorts] Yeah. I guess a a second
140. 3:52question there. I have a
141. 3:54personal brand on social media.
142. 3:56>> Mhm.
143. 3:56>> Um and a lot of my audience is
144. 3:58requesting things like books and public
145. 4:00speaking. Do you say screw it to those
146. 4:03things and you just do more on what we
147. 4:06know work?
148. 4:06>> Yeah.
149. 4:06>> Or do we like entertain that all?
150. 4:08>> No, I would just more of what works.
151. 4:10>> one-on-one.
152. 4:10>> You're already overwhelmed. Why would
153. 4:11you do more?
154. 4:13>> Uh yeah, very overwhelmed with the
155. 4:15options.
156. 4:16>> like I have so much demand, so I think
157. 4:17I'm going to go get more. It's like I
158. 4:18don't think that's
159. 4:19>> Yeah.
160. 4:19>> I guess it's more
161. 4:20more uh scalable products for the demand
162. 4:23that I have while they wait for
163. 4:24one-on-one coaching to
164. 4:26to
165. 4:27you know.
166. 4:28>> I So, you ask a strategic question,
167. 4:30which is what business do I want to
168. 4:31build?
169. 4:32Um if there's like
170. 4:35>> [clears throat]
171. 4:36>> Obviously, the more valuable version of
172. 4:37your business is productizing this with
173. 4:39an AI mentor or something like that.
174. 4:40That would be the most valuable version
175. 4:41of the business. That's also going to
176. 4:42transform your business from a service
177. 4:44business to a technology business, which
178. 4:45is not necessarily my recommendation,
179. 4:47but that's what would happen. And so, I
180. 4:49think you need to pick who you want to
181. 4:51be in terms of like the service
182. 4:52delivery.
183. 4:54Um I'll bet that being pro-human would
184. 4:56probably be do really well from a
185. 4:58messaging standpoint for a while to
186. 4:59parents. That's my guess.
187. 5:00>> Yes.
188. 5:01>> Um
189. 5:02And so, uh I think that you're in a
190. 5:04really good service business and I'm
191. 5:06guessing you have decent margins.
192. 5:07>> Great margins.
193. 5:08>> Great.
194. 5:10>> Good good margins.
195. 5:11>> [laughter]
196. 5:13>> Uh
197. 5:13>> Yep.
198. 5:14>> You Yeah, you have great margins. You
199. 5:15have demand and you have a product
200. 5:17that's like you have everything. We just
201. 5:19need to do more.
202. 5:20>> Do more. Thank you.
203. 5:21>> I can't give you every single recipe.
204. 5:22That would be ridiculous. It would be
205. 5:23like this long. [music] But, these are
206. 5:24the top five recipes that we have used
207. 5:26to scale that Leila actually put
208. 5:28together for us cuz she's really been
209. 5:30the one who operates the business. And
210. 5:31so, yeah, I don't know what's inside of
211. 5:32it, but um it's good. So, you should
212. 5:34check it out cuz Leila made it [music]
213. 5:36and she makes good stuff. It's free.