WEBVTT

1
00:00:00.000 --> 00:00:03.280
and I was listening what they were saying and I wanted to light my head on fire.

2
00:00:04.560 --> 00:00:07.440
Welcome to the game where we talk about how to get more customers, how to make more

3
00:00:07.440 --> 00:00:10.640
customers, how to keep them longer and the many failures and lessons we have learned

4
00:00:10.640 --> 00:00:15.680
along the way. I hope you enjoy and subscribe. So I was sitting in my quarterly

5
00:00:15.680 --> 00:00:20.640
leadership meeting where everyone had flown into Vegas for two days to talk about the next

6
00:00:20.640 --> 00:00:25.680
quarter in our goals for the company and I stood there and I was listening what they were saying

7
00:00:25.680 --> 00:00:30.320
and I wanted to light my head on fire. What transpired next was a problem solving process

8
00:00:30.320 --> 00:00:36.720
that I want to share with you because it unlocked 10 million to 12 million dollars in annual revenue

9
00:00:36.720 --> 00:00:43.120
for us that we had not been able to unlock for two quarters because of one simple misdiagnosed

10
00:00:43.120 --> 00:00:48.240
problem. And so the purpose of this video is to hopefully get you to one avoid making that mistake

11
00:00:48.240 --> 00:00:52.240
but to be able to use this framework so that you can solve the right problems in your business.

12
00:00:52.800 --> 00:00:56.800
So if you guys don't know my name, my name is Oxymozzi. I own acquisition.com. It's a portfolio

13
00:00:56.800 --> 00:01:00.480
company you do about 85 million dollars a year. The reason I make these videos is because a lot of

14
00:01:00.480 --> 00:01:05.360
people are broke and I don't want to be one of them. All right. So inside of our quarterly meeting

15
00:01:05.360 --> 00:01:11.440
for two quarters in a row, my sales manager set the goal that they wanted to add six more

16
00:01:11.440 --> 00:01:16.800
outbound routes. Two quarters in a row. Quarter came, quarter left, quarter came, quarter left.

17
00:01:16.800 --> 00:01:21.520
This is the third time that I've been hearing them make this goal and everyone is nodding their

18
00:01:21.520 --> 00:01:26.000
heads and writing them down and it seemed like everything was hunky-dory. And I stopped and I was

19
00:01:26.000 --> 00:01:31.680
like, guys, we've had this goal for two quarters. Why do we expect it to be any different this time?

20
00:01:32.400 --> 00:01:36.560
To set the same goal and nothing's going to happen. And for context, the reason I said 10 to 12

21
00:01:36.560 --> 00:01:41.120
million is because every outbound rep generates about $2 million a year in revenue for my business.

22
00:01:41.120 --> 00:01:44.480
And so for me to have six more reps is about $12 million. So I'm not just pulling that out of

23
00:01:44.480 --> 00:01:48.960
nowhere. That's where it comes from. Back to the story. I asked him, I was like, why weren't you

24
00:01:48.960 --> 00:01:53.120
able to do this? He's like, well, you know, we lost a couple of reps this last quarter even though

25
00:01:53.120 --> 00:01:57.440
we hired some new ones and we pretty much have the same amount as we we had four. And I was like,

26
00:01:57.440 --> 00:02:01.520
and is that what happened the quarter before that too? He's like, well, yeah. I was like, then how

27
00:02:01.520 --> 00:02:07.600
are you going to solve this problem? He's like, I don't know. And then it hit me. I had been driving

28
00:02:07.600 --> 00:02:13.200
this guy and putting my pressure on this guy when he was not the constraint of the system. Let me

29
00:02:13.920 --> 00:02:19.200
explain. In every system, you have potential and you have constraints. Most entrepreneurs spend

30
00:02:19.200 --> 00:02:23.600
all their time trying to add potential to their business thinking that they are solving the

31
00:02:23.600 --> 00:02:29.520
constraint, but we will always grow. Any system will grow up to its constraint and no further.

32
00:02:29.520 --> 00:02:35.360
And so right now your business has a constraint. You have to identify it. And what makes macro speed

33
00:02:35.360 --> 00:02:41.280
happen is not is not the frenziness and the frenetic energy. It's knowing which problems to solve in

34
00:02:41.280 --> 00:02:45.840
what order. And the example I'm going to give you is showing you exactly why that didn't happen

35
00:02:45.840 --> 00:02:49.680
for one of my companies for this specific channel we were marketing on, which is outbound.

36
00:02:49.680 --> 00:02:54.400
Had we identified this problem two quarters ago, we would have added 10 million to our top line

37
00:02:54.400 --> 00:02:58.560
for this year, which we won't have. So instead, we're going to get one quarters worth of that. So

38
00:02:58.560 --> 00:03:03.440
maybe add two million or two and a half million to top line when we should have added 10 or 12

39
00:03:03.440 --> 00:03:07.520
because of this one problem. And from the outside, people are going to say, oh, well, it's because of

40
00:03:07.520 --> 00:03:12.160
X, Y and Z, but they didn't diagnose the root problem. Do you know what it was? I'll tie it.

41
00:03:12.160 --> 00:03:17.760
So I then turned to my HR director and I said, how many, how many people are you sending the sales

42
00:03:17.760 --> 00:03:23.760
manager per week? She was like, well, I sent them about one qualifier candidate a week. And I was

43
00:03:23.760 --> 00:03:28.800
like, okay, how many interviews does it take you to send one qualifier candidate? She says it takes

44
00:03:28.800 --> 00:03:34.320
five. I was like, okay, manager, how many of these final interviews does it take for you to get one

45
00:03:34.320 --> 00:03:38.720
person hired? And it's like four. And I was like, so it takes us 20 people that we got to get three

46
00:03:38.720 --> 00:03:44.640
to get one new Alpandra. It's like, yeah, it's like, okay, now given the churn that we had in the

47
00:03:44.640 --> 00:03:49.600
last quarter and two quarters, because just FYI for everybody, frontline positions in general tend

48
00:03:49.600 --> 00:03:53.840
to turn more than manager and leadership positions, just his name of the game. And I was like, okay,

49
00:03:53.840 --> 00:03:58.240
so what is our churn in that position? It's like, it's about 20% of quarter. I was like, okay,

50
00:03:58.240 --> 00:04:03.200
I understood. Now, simple math here, if we have 10 people who are working on it, that's not the

51
00:04:03.200 --> 00:04:08.000
number, but let's just say it's 10. And we lose 20% that it means we're losing two people in quarter.

52
00:04:08.000 --> 00:04:14.000
If right now the process that you have gets us one new Alpandra per month and we're losing to a quarter,

53
00:04:14.000 --> 00:04:18.800
that means we would net one new person per quarter. That is going to be very short of our goal of six.

54
00:04:18.800 --> 00:04:23.760
So what do we need to do? We need to fix the actual hiring process in order to meet the goal.

55
00:04:26.400 --> 00:04:31.120
Hey guys, love that you're listening to the podcast. If you ever want to have the video version

56
00:04:31.200 --> 00:04:35.600
of this, which usually has more effects, more visuals, more graphs, you know, drawn out stuff,

57
00:04:35.600 --> 00:04:39.520
sometimes it can help hit the brain centers in different ways. You can check them on YouTube

58
00:04:39.520 --> 00:04:43.600
channel. It's absolutely free to check that out if that's what you are into. And if not, keep

59
00:04:43.600 --> 00:04:50.640
enjoying the show. And so what we did was we actually asked the HR director, I said, why are we

60
00:04:50.640 --> 00:04:54.960
doing these 101? She's like, well, I thought we had to do that. Miscommunication, right? It's all

61
00:04:54.960 --> 00:04:59.280
it was. It's a miscommunication. So we don't need that for this position. What she now did,

62
00:04:59.280 --> 00:05:02.640
the solution to this problem was that she's setting up. She's still running the ads. She's

63
00:05:02.640 --> 00:05:07.680
still organizing the interviews, but she sent them all up for the sales manager to do group

64
00:05:07.680 --> 00:05:15.120
interviews. And now he can do five group interviews for one hour per week. And now he can pick one or

65
00:05:15.120 --> 00:05:19.680
two of those people and get them onboarded quickly. And he can start hiring. He will be able to hit

66
00:05:19.680 --> 00:05:25.760
his goal in that way. And so the reason I tell the story is because I just missed out on a bunch

67
00:05:25.760 --> 00:05:30.400
of revenue that I should have been able to make because we were solving the wrong problem.

68
00:05:30.400 --> 00:05:36.720
All of the focus was on the sales manager and who he was bringing in and how he was training them

69
00:05:36.720 --> 00:05:41.200
rather than because that wasn't the constraint of the system. Rather than what is the acquisition

70
00:05:41.200 --> 00:05:45.760
process for talent? And so I'll give you a framework that I wrote down somewhere that I'll probably

71
00:05:45.760 --> 00:05:50.640
share in another video. But it's something called the quad marketing calendar. Most people have

72
00:05:51.520 --> 00:05:56.960
no marketing calendar. Smaller people have one or two marketing calendars. So the first marketing

73
00:05:56.960 --> 00:06:00.960
calendar and you can draw this, you know what? I'll do it for you right now. All right, so the quad

74
00:06:00.960 --> 00:06:07.520
marketing calendar looks like this. Here you've got internal and you've got external. So here you have

75
00:06:07.520 --> 00:06:13.520
employees and you've got prospects internally, which is this way, you should be marketing to your

76
00:06:13.520 --> 00:06:19.760
employees so that you tell them about the vision and about the mission, about why you do what you do.

77
00:06:20.640 --> 00:06:23.760
This has to happen all the time so that people continue to want to work for you.

78
00:06:24.800 --> 00:06:29.760
Internally to your prospects, which are now customers over here, you need to continue to market them

79
00:06:29.760 --> 00:06:36.800
to get them to buy again and again, right? We need to keep them to keep buying. Over here,

80
00:06:36.800 --> 00:06:42.640
in external, for prospects, you need to get people to become customers. So we're marketing

81
00:06:42.640 --> 00:06:46.800
externally. Most people understand this one. This is the one that most people do. Most people don't

82
00:06:46.800 --> 00:06:50.240
do this one. Most people definitely don't do this one. And I'll tell you the one that people miss

83
00:06:50.240 --> 00:06:58.480
the most. This one is that they don't have an acquisition process for getting new talent. So just

84
00:06:58.480 --> 00:07:07.120
like you run ads, generate leads, nurture leads, set appointments, sell, fulfill, you should be able

85
00:07:07.120 --> 00:07:15.520
to run ads for new employees. You should be generating leads. You should be working those leads.

86
00:07:15.520 --> 00:07:21.600
You should be setting interviews, which are sales. You make job offers, just like you make normal

87
00:07:21.600 --> 00:07:26.160
offers. And then the onboarding experience that you have for a customer is the onboarding

88
00:07:26.160 --> 00:07:33.280
experience that you have in parallel with an employee. And then just like you continue to ascend

89
00:07:33.280 --> 00:07:42.320
and resell your customers, you ascend and continue to manage your employees. These are parallel

90
00:07:42.320 --> 00:07:46.720
processes that happen in every business. And most people don't know about it. And you heard about it

91
00:07:46.720 --> 00:07:53.280
here first, at the world's best YouTube channel in the world, the handsomest and most sickly, now

92
00:07:53.280 --> 00:07:58.640
Rhona ridden, YouTube are out there. And this is called the quad-barring calendar. And it was because

93
00:07:58.640 --> 00:08:04.080
we were missing this framework, my HR director did not understand this framework that we lost out

94
00:08:04.080 --> 00:08:07.840
on 10 to 12 million dollars revenue. And I don't want you to do that. All right. And so the reason

95
00:08:07.840 --> 00:08:12.720
I made this video is so that you can recognize which of these four in the quad-market calendar you

96
00:08:12.720 --> 00:08:18.240
were not using so that you can shore up that part of your business and ultimately scale it and

97
00:08:18.240 --> 00:08:22.480
make all of your wildest dreams come true. All right. My name is Alex Marosi. Like I said,

98
00:08:22.480 --> 00:08:26.400
I'm an acquisition.com. I've got nothing to sell you. I hope you enjoyed this video and I'll

99
00:08:26.400 --> 00:08:29.920
guys I'll see you guys in the next one. Keep being awesome. Bye.