WEBVTT 1 00:00:00.000 --> 00:00:03.120 There are probably a hundred things that you have on those notes and each of them you're like, 2 00:00:03.120 --> 00:00:06.000 this could give me 5% more, this could give me 10% more, this could give me whatever. 3 00:00:06.000 --> 00:00:11.120 If I know them and have a 20% guaranteed cost, that whether it works or not I'm going to have 4 00:00:11.120 --> 00:00:14.080 this happen, it changes what things I'm willing to take up that on. 5 00:00:17.600 --> 00:00:24.240 So how's this morning? Good? Yes? Tactical? Okay, good. That is the objective. 6 00:00:24.240 --> 00:00:27.680 And hopefully it puts a little more context on what I was talking about yesterday, 7 00:00:27.680 --> 00:00:30.720 which is, all right, there's probably a hundred questions you could have potentially asked, 8 00:00:30.720 --> 00:00:34.400 but ideally or hopefully you asked the questions that you think could get you the highest return. 9 00:00:34.400 --> 00:00:41.200 And that's fundamentally why we laid out that way. To frame this Q&A, I want to go over a couple 10 00:00:41.200 --> 00:00:45.760 small things and then we'll kind of dive into it. So one of the big ones is everyone here probably 11 00:00:45.760 --> 00:00:49.920 has a lot of notes from this morning and yesterday. And when you get back in your car or you go to 12 00:00:49.920 --> 00:00:53.200 on the plane, you're going to above your laptop, you're going to above your notes and you're probably 13 00:00:53.200 --> 00:00:58.560 open up some sort of fresh document and be like, okay, what am I actually going to do, right? 14 00:00:58.560 --> 00:01:03.440 Because you have all these ideas and kind of the objective for me when I think about how to 15 00:01:03.440 --> 00:01:07.760 prioritize within a business, aka strategy, it's making sure that we get those one to three things 16 00:01:07.760 --> 00:01:12.800 that we're going to change correct. And I want to introduce a little bit of a concept that's 17 00:01:12.800 --> 00:01:17.440 taking me too long to understand and it's really, really hard, which is this. There's a lot of things 18 00:01:17.440 --> 00:01:22.080 that you can do to grow the business. You have a lot of ideas that you're coming off from. And so let's 19 00:01:22.640 --> 00:01:28.400 imagine that this line represents your current revenue level. Whenever you make a change in the 20 00:01:28.400 --> 00:01:34.640 business, my estimation is that we see about a 20% decrease in revenue as a result of a change, 21 00:01:34.640 --> 00:01:37.520 especially if it's a minute you'll change, we're changing a sales process, we're changing 22 00:01:37.520 --> 00:01:40.880 a customer service process, something that involves humans, we're changing something that they're doing. 23 00:01:41.520 --> 00:01:45.920 We'll typically see a 20% decrease guaranteed simply because of the cost of change. 24 00:01:46.880 --> 00:01:52.880 But once I kind of like realize this, it changed what things I decided to choose to change to 25 00:01:52.880 --> 00:01:57.520 begin with, meaning there are probably 100 things that you have on those notes and each of them 26 00:01:57.520 --> 00:02:01.280 you're like this could give me 5% more, this give me 10% more, this give me whatever. If I know 27 00:02:01.280 --> 00:02:06.800 them and have a 20% guaranteed cost that whether it works or not, I'm going to have this happen, 28 00:02:06.800 --> 00:02:11.520 it changes what things I'm willing to take up that on. And so for me, my kind of minimum 29 00:02:12.160 --> 00:02:18.560 litmus test for this is I need to see at least a 20% bump or believe I can see a 20% bump from 30 00:02:18.560 --> 00:02:23.360 any implementation that I'm going to run or I'm not going to take the guaranteed 20% loss. 31 00:02:23.360 --> 00:02:27.360 And so part of this comes into something called ice, which is kind of an investor terminology, 32 00:02:27.360 --> 00:02:31.840 but basically of impact, confidence, how likely, like how big of a difference is it going to make? 33 00:02:32.720 --> 00:02:37.280 How likely is that to happen? And then you've got ease, which is basically the value equation 34 00:02:37.280 --> 00:02:43.200 without speed. And so if we're looking at any of the implementation that you're thinking about 35 00:02:43.200 --> 00:02:47.760 about putting in the business, I'd be like, okay, how big of an impact do I think this could have? 36 00:02:48.400 --> 00:02:53.040 How likely do I think this is to occur? And then how fast and how easy do I think I can make it happen? 37 00:02:53.040 --> 00:02:57.920 And so typically we'll organize it in that way and you'll probably figure out pretty quickly, 38 00:02:57.920 --> 00:03:02.560 if I were to implement two things at once, what do you think would happen? And so you'd have two 39 00:03:02.560 --> 00:03:08.560 negative 20% decreases. And so the end result of basically taking this ideology to its natural 40 00:03:08.560 --> 00:03:11.680 extreme means that you basically can't change that many things in the business and expect this 41 00:03:11.680 --> 00:03:18.480 to grow. And so that end result for me has been, and I'm going to be crude on purpose, 42 00:03:18.480 --> 00:03:22.800 is that some shit stays fucked. And so there's a lot of things that I would love to do to improve 43 00:03:22.800 --> 00:03:26.800 this experience for everyone here. I've got a list like many pages long, but every time I do 44 00:03:26.800 --> 00:03:32.400 implement a change, it negatively impacts the next group because it was a change. Now the 45 00:03:32.400 --> 00:03:35.680 next one after that, it starts to recover and come back up because the team learns whatever 46 00:03:35.680 --> 00:03:40.000 that process was, they get better at it. And then maybe the one after that, it goes even higher. 47 00:03:40.000 --> 00:03:46.240 And that's great. And so what happens is like, I've gotten addicted to not changing things because 48 00:03:46.240 --> 00:03:50.400 people tend to, because the flip side is if you change nothing, so let's say you have no change 49 00:03:50.400 --> 00:03:55.040 that occurs, you'll have something usually that's in like a two to three percent increase 50 00:03:55.680 --> 00:03:59.280 that happens pretty much no matter what. Because people just get better at their jobs. 51 00:03:59.360 --> 00:04:02.640 Sales guys just get a little bit more comfortable, customer service guys get into a rhythm. 52 00:04:02.640 --> 00:04:05.760 Like it just works. And it just works a little bit better because most people like to make 53 00:04:05.760 --> 00:04:08.640 their jobs easier. And so they tend to just do it a little bit better. So it's a specialization 54 00:04:08.640 --> 00:04:13.200 specialization of labor is all about. And so I would encourage you that when you have this list 55 00:04:14.160 --> 00:04:18.080 that you're going to have for, you know, you're one, two, and three that you're going to go home with. 56 00:04:18.080 --> 00:04:21.840 Think about ice when you're putting that together. And to make sure that you're going to make 57 00:04:21.840 --> 00:04:26.000 your biggest swing worth it. If you have a change that can get two extra business, 58 00:04:26.000 --> 00:04:30.640 then yeah, take the 20% tip. No question. Right. But there are some changes that just aren't 59 00:04:30.640 --> 00:04:36.480 good enough to be even worth the guaranteed cost. Does that make sense? This took me a really 60 00:04:36.480 --> 00:04:42.160 long time to understand. And it's almost like, I would say like a step brother to the focus on the 61 00:04:42.160 --> 00:04:46.560 macro scale of business model focus. Let's not start a second business, which probably a third of 62 00:04:46.560 --> 00:04:51.120 you have. But even within the business, it's staying focused on keeping the main thing the 63 00:04:51.920 --> 00:04:57.120 and the hard part is is it's hard because the thing that's often limiting you in the business 64 00:04:57.120 --> 00:05:01.360 are hard problems. New things are easy problems because you can always just whip something up and 65 00:05:01.360 --> 00:05:05.920 promote it and make money. But the hard problem is like, okay, I can't scale past this current level 66 00:05:05.920 --> 00:05:10.880 because I need to recruit like three really niche employees. Well, you're going to have to do it 67 00:05:10.880 --> 00:05:16.160 either way. And so you might as well just confront the hard that's in front of you. And so being able 68 00:05:16.160 --> 00:05:21.040 to spell that out to myself and be like, this is the hard. The hard is the not knowing how to do 69 00:05:21.040 --> 00:05:25.280 this thing. And I have to figure it out and not knowing where to find these people. But I'm going 70 00:05:25.280 --> 00:05:28.640 to have to figure it out. And so it's like taking all that energy where you're like, I don't know how 71 00:05:28.640 --> 00:05:32.400 to do this. So I'm just going to do the thing I know how to do, which is I say this and I see like 72 00:05:32.400 --> 00:05:36.560 all the smiles like in like nods in the audience right now. But you have to keep fighting that muscle 73 00:05:36.560 --> 00:05:39.440 because in a lot of ways, it's almost like an addiction for entrepreneurship. It's like we like 74 00:05:39.440 --> 00:05:43.920 to do new things. And also like addiction, you just have to fight it every day. This is just because 75 00:05:43.920 --> 00:05:46.880 a lot of you guys are going to be implementing some of the things that you walk away from here. 76 00:05:46.880 --> 00:05:50.160 I just want to make sure number one that the few things that you choose to do that they're 77 00:05:50.160 --> 00:05:54.240 absolutely worth it. And that many of the things on that list, I'd rather you just forget about 78 00:05:54.240 --> 00:05:58.800 because after you do the first three things, all the all the pieces on the border going to change, 79 00:05:58.800 --> 00:06:02.880 you're going to have new resources, new problems. And number, you know, five four five six seven eight 80 00:06:03.520 --> 00:06:07.600 might not be like, once you do one through three, number four might not be number one. You'll have 81 00:06:07.600 --> 00:06:12.080 another thing that'll be number one that you didn't even think about, which is why I'm not super 82 00:06:12.080 --> 00:06:17.040 obsessed with very long term planet. So I thought this might be a good primer before we get into 83 00:06:17.040 --> 00:06:21.280 this as a good way of thinking through this. And this is like, I wish I could transfer this to you 84 00:06:21.280 --> 00:06:26.080 because this is probably from a skill perspective. One of the things that has made me the most money 85 00:06:26.640 --> 00:06:30.720 is basically just saying, I'm not going to do new things. And if I'm going to do it, 86 00:06:30.720 --> 00:06:35.920 it better be worth it because I'm going to pay a price immediately with my team being confused, 87 00:06:35.920 --> 00:06:39.280 feeling whiplash saying, what is this thing? I didn't feel like it was communicated well, 88 00:06:39.280 --> 00:06:41.440 it doesn't matter how well you communicate, it's not communicated well enough because they don't 89 00:06:41.440 --> 00:06:45.120 just immediately know it. Okay, cool. Let's do Q&As. All right. So you had a hundred and something 90 00:06:45.120 --> 00:06:49.600 thousand. You want to get to a million food or issues hiring 150 150. Excuse me. 91 00:06:52.240 --> 00:06:56.480 You want to get to a million? Yeah. And your biggest issue is hiring. Yeah. What do you sell? 92 00:06:56.480 --> 00:07:02.640 I sell content. So content. Yeah. So we do videos like marketing materials for real estate agents 93 00:07:02.640 --> 00:07:07.520 looking to market their personal brands and properties. Okay. So personal branding for them. 94 00:07:07.520 --> 00:07:12.640 Correct. Okay. Got it. So what stops you from doing a lot more of that? 95 00:07:13.360 --> 00:07:18.720 So I'm a young entrepreneur and I basically based my own brand off of being a young entrepreneur. 96 00:07:18.720 --> 00:07:22.240 My and now you're just going to be a middle young like I. 97 00:07:24.640 --> 00:07:28.480 So my business partner, I just know what you're dealing with because like when I came up, 98 00:07:28.480 --> 00:07:32.960 I started making a lot of money like 26 27 and they're like, Alex is so young and now I'm just like 99 00:07:32.960 --> 00:07:40.160 36 and no one really gives a fuck. Yeah. Sorry. Keep going. The only problem is like clients find out 100 00:07:40.160 --> 00:07:46.640 my real age and I use my I technically use my age as a leverage to what I sell. So social media, 101 00:07:46.640 --> 00:07:52.880 I grew up with social media. So you know, I know social media better than six-year-old agents do. 102 00:07:52.880 --> 00:07:59.760 Okay. So my constraint, what's the issue? Just the pitches wrong? No. People don't trust 103 00:08:00.560 --> 00:08:06.480 necessarily older people in my business. We based our brand off of being young. So you're 104 00:08:06.480 --> 00:08:12.960 not young. Yes. But when I hire someone like a new shooter or a director of operations who's 105 00:08:12.960 --> 00:08:16.800 25 and above, they don't necessarily look. Yeah. They don't necessarily. 106 00:08:20.080 --> 00:08:23.040 I want to say too is boomers. Yeah. Boomers. 107 00:08:23.040 --> 00:08:30.640 So what are you saying though? It's more of a trust issue with clientele. They don't 108 00:08:30.640 --> 00:08:37.040 like totally in your head, man. Really? Yeah. 100%. You care. No one else cares. You even think 109 00:08:37.040 --> 00:08:42.480 they're old. I don't think they're old. I don't think you're bringing it up. 110 00:08:44.560 --> 00:08:50.320 So like no one cares. Did you guys care that Jacob Hopkins is 22? At the same time, 111 00:08:50.320 --> 00:08:54.080 we have people who are in their late 30s and 40s. People just care about how good you are. 112 00:08:55.120 --> 00:08:59.600 So like people will care about your age for the two seconds before you open your mouth. 113 00:08:59.600 --> 00:09:06.160 And then as soon as you open your mouth, that's like the absolute thinnest surface level 114 00:09:06.160 --> 00:09:09.520 of judgment that someone will make. In general, younger people will know less than older people. 115 00:09:09.520 --> 00:09:13.040 In general. Yeah. But there are also Mark Zuckerberg who's a billionaire at 21. 116 00:09:14.400 --> 00:09:18.800 So there's obviously people who know more at a younger age. So you just have to demonstrate 117 00:09:18.800 --> 00:09:25.120 expertise. Okay. Kind of follow up with another question. So on a scaling aspect, we have a lot 118 00:09:25.120 --> 00:09:32.560 of realtors asking us in different areas like Texas, California to produce the work out there. 119 00:09:32.560 --> 00:09:36.240 Because our content is kind of one of one. It's different and it's providing a lot of value. 120 00:09:38.000 --> 00:09:44.080 I'm looking at it as more of like a 1099 contracting videographers and teaching them in that 121 00:09:44.080 --> 00:09:50.000 state or region to shoot that kind of property. But I'm also looking at it as kind of like a franchise. 122 00:09:50.000 --> 00:09:54.240 What would you do in that situation? For a franchise to be something that you'd really want, 123 00:09:54.240 --> 00:09:58.480 it's simply going to have some sort of like franchising is just a model for raising money. 124 00:10:00.000 --> 00:10:05.280 And you dilute selling the most expensive version of it, which is that you're going to give all 125 00:10:05.280 --> 00:10:09.280 of the upside away, except for a small royalty and you're going to do a huge amount of the work. 126 00:10:09.840 --> 00:10:13.760 And so in your business, you don't require really any capital to expand. 127 00:10:14.800 --> 00:10:18.960 Right. So we wouldn't franchise. So that doesn't make sense. If you wanted to have 128 00:10:18.960 --> 00:10:23.520 revenue retention for these people who are in different markets, I could see two different ways 129 00:10:23.520 --> 00:10:28.400 that you could do it or really three. So one is they fly to you and then you just you do like 130 00:10:28.400 --> 00:10:32.640 one day of recording and you get 90 days or six months worth of content for them. And I think 131 00:10:32.640 --> 00:10:37.760 that would be a very strong value profit. You could probably charge 25 grand for that. That's number one. 132 00:10:37.760 --> 00:10:41.120 The other way is that you could fly out. You could fly somebody out to do that. It's a second 133 00:10:41.120 --> 00:10:46.640 version, also still charging a lot of money. The third way is you can, I guess, find people basically 134 00:10:46.640 --> 00:10:52.160 run ads locally to find videographers to go capture the footage and then do what edits centrally. 135 00:10:52.160 --> 00:10:56.240 We would we have a team in house to edit. It's been we're so like the shots like learning the 136 00:10:56.240 --> 00:11:02.240 correct shots. Yeah, for us to edit centrally they capture locally. Right. So I think I would just 137 00:11:02.240 --> 00:11:10.800 consider hiring those people on behalf of the client and then just charging an upcharge on the 138 00:11:10.800 --> 00:11:15.360 rate that you're like if you you know pay them four thousand dollars a month you charge five 139 00:11:16.160 --> 00:11:20.960 and but they're paying you five you pay the person for and then that way you'll have built-in 140 00:11:20.960 --> 00:11:25.920 revenue retention because it's much harder to have fire an employee than it is to fire a vendor. 141 00:11:26.400 --> 00:11:33.360 Real quick guys, I have a special special gift for you for being loyal listeners of the podcast. 142 00:11:34.000 --> 00:11:40.400 Layla and I spent probably an entire quarter putting together our scaling roadmap. It's breaking 143 00:11:40.400 --> 00:11:45.840 scaling into 10 stages and across all eight functions of the business. So you've got marketing, 144 00:11:45.840 --> 00:11:49.920 you've got sales, you've got product, you got customer success, you've got IT, you've got recruiting, 145 00:11:49.920 --> 00:11:54.160 you've got HR, you've got finance and we show the problems that emerged at every level of scale 146 00:11:54.160 --> 00:11:59.120 and how to graduate to the next level. It's all free and you can get it personalized to you 147 00:11:59.120 --> 00:12:03.840 since about 30-ish pages for each of the stages. Once you answer the questions it will tell you exactly 148 00:12:03.840 --> 00:12:09.680 where you're at and what you need to do to grow. It's about 14 hours of stuff but it's narrowed down 149 00:12:09.680 --> 00:12:12.960 so that you only have to watch the part that's relevant to you which will probably be about 90 minutes. 150 00:12:13.760 --> 00:12:18.000 And so if that's at all interesting you can go to acquisition.com forward slash road map, 151 00:12:18.000 --> 00:12:20.000 ROAD map, road map. 152 00:12:22.960 --> 00:12:27.280 But you would just basically fractionally own a lot of these relationships. 153 00:12:27.280 --> 00:12:30.800 So look at it more as like a vendor. And as soon as someone says they're going to cancel, 154 00:12:30.800 --> 00:12:34.320 oh that's great. I'd such a waiting list in your area. I'm just going to have that guy 155 00:12:34.320 --> 00:12:36.960 show your competitor. This is so helpful. That works out great. 156 00:12:36.960 --> 00:12:42.480 My name is Justice. I'm a short form content creator in the product review space. So right now I'm 157 00:12:42.480 --> 00:12:48.320 doing about 120 million views a month, just short form. But 75% of my revenue comes from brand 158 00:12:48.320 --> 00:12:53.200 sponsorships. Okay. But I'm going to review products. Yeah. Okay. So you are UGC. 159 00:12:53.200 --> 00:12:57.760 You're going to see them free. I'm not faceless as well. So like not really a personal brand type of 160 00:12:57.760 --> 00:13:03.120 thing. Okay. Cool. I'm realizing the current business model isn't as like scalable and 161 00:13:03.120 --> 00:13:07.680 sustainable long term just for me. What would be a good road map for someone like me who's a 162 00:13:07.680 --> 00:13:14.000 gliserable. It's just I think like a little part of it's like unfulfilling and a lot of it is 163 00:13:14.000 --> 00:13:19.360 like I'm a pleasure right there because I think this is really viable. Yeah. Fairway. I hear that 164 00:13:19.360 --> 00:13:24.400 sentence all the time. I have this business. It's working. I don't think it's scalable. I should 165 00:13:24.400 --> 00:13:29.440 do a different business. If we reframe this as I'm doing her business, it's working. And now it's 166 00:13:29.440 --> 00:13:34.800 hard. And so I'd like to do something easy. Can you tell me something easy? That's that's what I 167 00:13:34.800 --> 00:13:38.480 hear. And so I'm bringing this up because it kind of hits to kind of what I was talking about 168 00:13:38.480 --> 00:13:43.040 earlier. Like you have to confront the problem. But like the other side of that problem. So the way 169 00:13:43.040 --> 00:13:48.320 that I that a way that I talk about this to our founders within the portfolio is like let's say 170 00:13:48.320 --> 00:13:52.480 that I'll just give a simple example. Let's say that we have to I'll look back to your question. 171 00:13:52.480 --> 00:13:55.840 Let's say that we have you know a key hire that when this key hire comes in, we could add, 172 00:13:55.840 --> 00:14:00.000 you know, five million. Ooh nice green. There we go. Five million dollars in profit of the business. 173 00:14:00.000 --> 00:14:03.840 All right. So it'd be a really I say five five million top line two million dollars in profit 174 00:14:03.840 --> 00:14:08.400 for the business. But this is somebody where you have to pay, you know, 500k a year to unlock this. 175 00:14:08.400 --> 00:14:13.520 Okay. So this is me a pretty specialized role that we're looking for. Now a founder might say, 176 00:14:13.520 --> 00:14:18.240 hey, can we just like figure out a way to not have this role? No, I think it's a worthwhile question 177 00:14:18.240 --> 00:14:23.600 pursue. But sometimes you just need the role, right? And so this two million dollars, let's say at 178 00:14:23.600 --> 00:14:29.200 a seven X enterprise valuation is going to be an increase in 14 million dollars in enterprise 179 00:14:29.200 --> 00:14:34.560 value, which if you own the business goes straight to your net worth tax rate. And so if I say 180 00:14:34.560 --> 00:14:39.360 back to the founder, hey, do you think you could find this one person for 14 million dollars? 181 00:14:40.160 --> 00:14:44.720 All of a sudden it feels better. You're like, you know, 14 million, I can find it. Right. And so I 182 00:14:44.720 --> 00:14:48.000 tried to think about like, what is this going to unlock in the business? What does it create to 183 00:14:48.000 --> 00:14:52.240 enterprise value? And then I try and put a ticket to kind of the hard that I'm trying to go through. 184 00:14:52.240 --> 00:14:54.960 Like we had a different portfolio company where we had to put in this, I talked about the 185 00:14:55.120 --> 00:14:58.560 yesterday, we had to put in this tech tech component to it. And I was like, well, currently the 186 00:14:58.560 --> 00:15:02.880 company's probably value like 80. If we can get this fully integrated, we could be valued in the 187 00:15:02.880 --> 00:15:07.360 200s. It's like, man, but building a whole developer team, we'd have to recruit a head engineer, 188 00:15:07.360 --> 00:15:10.800 we'd have to vote, you know, bring all these other people. And I was like, yeah, I mean, we'll also 189 00:15:10.800 --> 00:15:17.600 get paid $150 million to do it. So, you know, worth it. So it's like, it's hard and worth it. 190 00:15:17.600 --> 00:15:22.640 So anyways, please continue. So it's not scalable. Yeah, I appreciate that. Sometimes I've 191 00:15:22.640 --> 00:15:27.040 struggling to figure out like what to optimize for because just like chasing views as a content 192 00:15:27.040 --> 00:15:30.480 creator isn't always like the best thing to do, especially because I don't have a product to sell. 193 00:15:30.480 --> 00:15:35.440 And since I review 50 products a month, if I make one product, there's only so many times I can 194 00:15:35.440 --> 00:15:39.920 post a video about it, right? So there's so many products. Yeah. I mean, are you saying like, 195 00:15:39.920 --> 00:15:43.840 why do I review so many products? No, I understand why you release so many products, but there's so 196 00:15:43.840 --> 00:15:48.160 many more products to review. Basically, why is this not scalable? Why can't you review 500 products 197 00:15:48.640 --> 00:15:53.360 I can. I think that's a possibility. It would be like figuring out if the business model is going 198 00:15:53.360 --> 00:15:58.240 to be served towards brands because that is the driver of the business at 75% of the revenue. 199 00:15:58.240 --> 00:16:01.840 Or if I'm approaching it from the wrong way, and I'm just like, I should just double down on like 200 00:16:01.840 --> 00:16:06.800 long form YouTube, because 70% posted a long form YouTube video. But you get paid on these short 201 00:16:06.800 --> 00:16:11.920 form, yeah, if they probably repurposes ads. Yeah, they run ads behind it. So they usually are 202 00:16:11.920 --> 00:16:17.280 paying for like the usage rates behind that. So it is a possibility. And then another thing is 203 00:16:17.280 --> 00:16:21.280 just me getting in my head about creating a bunch of knees, who is just doing the same thing, 204 00:16:21.280 --> 00:16:25.840 because it's basically like a formula, because I'm not a tight. You do a lot of facial stuff. Yeah, 205 00:16:25.840 --> 00:16:30.720 that makes sense. Yeah, I mean, yeah, it's just like I do 50, and I do majority faceless. 206 00:16:31.360 --> 00:16:37.280 Why can't we do 500? I mean, do you run good margins? Yeah, 80% margins. Right. Yeah, let's do more 207 00:16:37.280 --> 00:16:45.520 of that. Two more. Yeah. Sweet. Oh, thank you. This is a good talk. Simple threads for location. 208 00:16:45.600 --> 00:16:51.360 A small thread. Sorry, small threads for locations, three or new. What is the old one yet for 16 years? 209 00:16:51.360 --> 00:16:55.520 Yeah. Yes. And the one of the big issues that we don't have enough data and we have a 210 00:16:55.520 --> 00:17:00.000 have a better CRM so we can track. And you're you were right last night. I went home and dug into the 211 00:17:00.000 --> 00:17:05.920 data I do have just by raising my revenue to five million instead of three million and getting 212 00:17:05.920 --> 00:17:12.400 rid of the data challenge. It makes my company worth six million dollars. Amazing. So that would 213 00:17:12.880 --> 00:17:21.840 make more money. Yeah, that's my need to. So my question is, last year, I dabbled in organic content. 214 00:17:21.840 --> 00:17:28.400 These are like crypto. I was like, here we go. All right. And had some success. I had videos that 215 00:17:28.400 --> 00:17:34.640 got like two and a half million views. But you know, brought me people that weren't necessarily 216 00:17:34.640 --> 00:17:40.320 in my market. Uh-huh. Which I'm okay with because the ultimate goal is to have stores everywhere. 217 00:17:40.320 --> 00:17:48.240 So it could be okay. But my current thought is time wise because I, you know, I like working, 218 00:17:48.240 --> 00:17:53.200 but I work a lot. I work like 90 hours a week is if I were to kind of go down this 219 00:17:54.080 --> 00:18:00.080 a little more time and energy into organic content creation to then use it to do paid local ads. 220 00:18:00.080 --> 00:18:03.760 What should I be making content about? That's where I got stuck. So I was doing like two kinds 221 00:18:03.760 --> 00:18:09.280 of content, like kind of like thrift content, which is it really? Instead of thinking about what type 222 00:18:09.280 --> 00:18:14.480 of content? Think about what will be valuable for the person that I'm trying to attract. Okay. 223 00:18:14.480 --> 00:18:19.600 So think about all the problems that moms have, specifically the moms that you were talking to. So 224 00:18:19.600 --> 00:18:24.240 maybe single child or single sex child, whatever moms and the nice things that they have lots of 225 00:18:24.240 --> 00:18:28.880 problems. And so you just make your content around that and then you just try and tie in the product. 226 00:18:28.880 --> 00:18:35.280 Okay. And then run targeted local. You post as many of those you can. The ones that take off, 227 00:18:35.280 --> 00:18:39.920 you take those, make them into ads. Yeah. And if you don't want to even put a CTA in the organic, 228 00:18:39.920 --> 00:18:46.400 you can just make the organic content when you have the winner. You take that one and then stitch 229 00:18:46.400 --> 00:18:52.160 on five seconds of the CTA at the end and then run that as the ad. Yeah, super easy. It's a really 230 00:18:52.160 --> 00:18:56.080 good strategy for anybody. Like if you, if you're like trying to get it, like if you're right now 231 00:18:56.080 --> 00:19:01.120 are predominantly paid and you want to start doing a little bit more content, I do think it's a good 232 00:19:01.120 --> 00:19:04.880 idea in general just because you'll get more conversions on a lead nurture perspective because 233 00:19:04.880 --> 00:19:07.520 people get on the phone. They're like, what is this person or who's this person? Then they'll look 234 00:19:07.520 --> 00:19:11.680 at your account and they're like, okay, they're alive. And so, but basically it's just, I just see 235 00:19:11.680 --> 00:19:15.840 this free testing. So you just get you post as many times you want. You can just see relative to 236 00:19:15.840 --> 00:19:19.680 the other other other pieces that you have. These ones outperformed. Great. Now I'll make these 237 00:19:19.680 --> 00:19:24.800 into ads. So just provide value. Here's other, like here's three ways that you can, you know, 238 00:19:24.800 --> 00:19:28.800 save on repairs for, you know, kids torn clothes or here's how you get stains out of these things. 239 00:19:28.800 --> 00:19:31.440 Or if you're, if you're the type of person who like sees this and is like, I'm never going to do 240 00:19:31.440 --> 00:19:35.280 that. Awesome. Come to simple threats. Like, I keep saying simple. Sorry. Small threats. We got 241 00:19:35.280 --> 00:19:40.560 you covered. Okay. That helped. All right. That helps. Okay. Easy. All right. Hey, I start Alex. 242 00:19:40.560 --> 00:19:48.640 My name is John Paul. So I sell healthcare listing services for doctors. I guess I work with 243 00:19:48.640 --> 00:19:53.040 PI attorneys, personal injury attorneys. And so what I'm trying to figure out, like I'm trying 244 00:19:53.040 --> 00:19:57.680 to figure out my bottlenecks in the business. I think one of the biggest ones is that along 245 00:19:57.760 --> 00:20:02.880 work with personal injury attorneys. So my clients, my paying clients are physicians, like 246 00:20:02.880 --> 00:20:09.120 healthcare providers. Okay. Okay. And then the reason why they hire us is because we're trying to 247 00:20:09.120 --> 00:20:13.520 get leads from personal injury lawyers. Uh-huh. For like car accidents, slip and fall. So if someone 248 00:20:13.520 --> 00:20:17.840 puts in falls, then they need to get repaired. As we hear as a repairman. Yeah. Kind of things. I 249 00:20:17.840 --> 00:20:22.000 don't repair it. Yeah. But I lost the bill of repairman. Got it. So my, the hardest thing is 250 00:20:22.720 --> 00:20:28.000 trying to figure out how the PI lawyers are sending referrals to the doctors. 251 00:20:28.640 --> 00:20:34.080 And a lot of the physicians that I work with only want to know how many referrals they're getting 252 00:20:34.080 --> 00:20:39.040 versus, you know, like trying to brand them and doing like, you know, the full spill of marketing. 253 00:20:39.040 --> 00:20:42.400 Yeah. They just want to know, hey, how many leads am I going to, or how many, you know, 254 00:20:42.400 --> 00:20:46.080 referrals are really ever making it get? Yeah. A lot of these referrals are worth a lot of money. 255 00:20:46.080 --> 00:20:52.400 It's not like, yeah. All right. So that's where I'm at. I don't know. Like we're expanding into 256 00:20:52.400 --> 00:20:57.440 Arizona and Texas. And I'm planning on hiring somebody there in each state. Is this a, is this 257 00:20:57.440 --> 00:21:02.240 a problem to solve? Or is this just like overhead? There's a problem solve. Okay. So I'm, 258 00:21:02.240 --> 00:21:09.760 what I'm thinking, is it limiting your ability to grow? Yes. Why? Because I a lot of the physicians 259 00:21:09.760 --> 00:21:16.960 expect a certain amount of leads per month. And so it's obviously it's hard because accidents 260 00:21:16.960 --> 00:21:21.760 don't just happen in the same city, right? Over and over. What a driverless car has come. And then 261 00:21:21.760 --> 00:21:27.120 it's like, no accidents happen. And now we're going to do, right? Yeah. Okay. Okay. Okay. So let me 262 00:21:27.120 --> 00:21:31.360 just, let me pause your record. So I think, so part of this is probably how it's being framed 263 00:21:31.360 --> 00:21:35.920 with the positions. Right. So one is you could just reframe it based on revenue, like basically 264 00:21:35.920 --> 00:21:40.880 revenue volume. So it'd be like, cool. We're going to usually send you around $20,000 worth of 265 00:21:40.880 --> 00:21:44.160 revenue volume. Sometimes it's going to be from two or three cases. Sometimes it's going to be from, 266 00:21:44.160 --> 00:21:47.760 you know, five or six, it'll depend. Obviously, we can't make sure that everyone's going to be paralyzed. 267 00:21:47.760 --> 00:21:52.080 I'm sorry. Haha. Haha. Right. But I think if you just reframe, instead of lead counts of revenue 268 00:21:52.080 --> 00:21:55.440 volume, which is ultimately care about anyways, like leads translate to revenue. And if you're saying 269 00:21:55.440 --> 00:21:59.680 that there's some variability there, I think that the lead number will no longer matter nearly as 270 00:21:59.680 --> 00:22:04.320 much based on how you're just framing it. And in terms of the whole branding and all the other 271 00:22:04.320 --> 00:22:09.840 stuff, I think that's a different business. And so I either you would start that as an additional 272 00:22:09.840 --> 00:22:14.960 service that you charge separately for based on its own value proposition, or my preferred method 273 00:22:14.960 --> 00:22:20.160 don't do that and just continue to do the main thing that's working. Got it. Cool. My name is Mike. 274 00:22:20.160 --> 00:22:26.160 My wife and I are here. We started a company with your content, super graded, super grateful, 275 00:22:26.160 --> 00:22:30.880 man. We exited for over 20 million. Amazing. Appreciate it. All right. He's right. What you've got 276 00:22:31.600 --> 00:22:36.480 your your books are worth the weight and gold, bro. Same thing. Anyhow, we're we're at a crossroads 277 00:22:36.480 --> 00:22:41.520 because we're we're building a new company based on our passion project. We started a company 278 00:22:41.520 --> 00:22:46.400 that taught do it yourself first. How to remodel their kitchen bathroom using epoxie over old 279 00:22:46.400 --> 00:22:51.520 countertops to make them look like natural Sloan. So with that idea, we found that, you know, we 280 00:22:51.520 --> 00:22:57.120 we really hit home with the DIYers, but a lot of our people that saw our you we built over 1.5 281 00:22:57.120 --> 00:23:02.080 million YouTube subscribers. And a lot of them didn't want to do it themselves, but we couldn't 282 00:23:02.080 --> 00:23:06.640 serve those customers. And so there's a shortage of contractors in the US. So we're really going 283 00:23:06.640 --> 00:23:11.600 to reach out to to young people that maybe don't want to go to college or old people or old people 284 00:23:12.240 --> 00:23:18.400 or or mentally who's your early year olds. So we're we're really we're going to we're building a 285 00:23:18.400 --> 00:23:23.040 trade school right now. We're going to teach these these people how to do the trade, how to 286 00:23:23.040 --> 00:23:28.240 I've already proven the lead gen so that I can give them all the leads they can handle because 287 00:23:28.240 --> 00:23:33.680 that's really the harder part of the business for them to learn. My question is we can either 288 00:23:33.680 --> 00:23:40.320 charge up front for this school cost about 20 grand for us to train somebody or we could we could 289 00:23:40.320 --> 00:23:46.240 we have a big following we could attract the people to apply, train them on our dime, maybe lock 290 00:23:46.320 --> 00:23:52.560 them in with you know if you leave before two years or whatever. But would and then we own the 291 00:23:52.560 --> 00:23:58.160 businesses with in all these different areas or should we should we they would own it we supply 292 00:23:58.160 --> 00:24:02.800 leads and cut the liability. That's really the crossroads we're at. Yeah. There's a lot of different 293 00:24:02.800 --> 00:24:06.960 models from the position that you're in right now, which is probably why you feel the heartburn. 294 00:24:06.960 --> 00:24:12.000 The first thought that I had was just like and instead of or like maybe I want them to pay $20,000 295 00:24:12.000 --> 00:24:17.280 to make sure that they're legit and I'm going to get a percentage of all the business that I send 296 00:24:17.280 --> 00:24:24.400 them. My my concern with that is if you look at a franchisee which we're not going franchise but 297 00:24:24.400 --> 00:24:30.080 if you look at that avatar, they're probably not the hustler who's as hungry as the kid with nothing 298 00:24:30.080 --> 00:24:35.760 who want that that's just that's my passion. I want to help the kid that has nothing. Okay well 299 00:24:35.760 --> 00:24:39.760 I can't finance it you know we could finance it and help him earn it back but well without the 300 00:24:39.760 --> 00:24:44.960 kid who has nothing you can just make all the content free right which you do now. Yeah so that 301 00:24:44.960 --> 00:24:48.880 kid already has been helped from you. If he wants more help from you you can pay and he can save up 302 00:24:48.880 --> 00:24:52.960 his shackles. So if instead of $20 if you want to make it five or you want to make it 10 and you can 303 00:24:52.960 --> 00:24:58.400 offer you know nice financing terms you could do that. I will just tell you that there's I get 304 00:24:58.400 --> 00:25:05.920 where your heart's coming from. It's it's it's very tough to go free and deliver a lot to people 305 00:25:05.920 --> 00:25:10.000 expecting that they're going to do something. They typically will need to have some skin in the game. 306 00:25:10.000 --> 00:25:12.640 If you're going to put skin in the game you're going to want them to put skin in the game. 307 00:25:12.640 --> 00:25:16.640 Still own it charged for the school. Yeah I think you could play with the price. 308 00:25:17.920 --> 00:25:24.000 Okay great. Mrs. Michael yes. Yeah it's otherwise you're just going to have a bunch of free 309 00:25:24.000 --> 00:25:29.040 b-seekers who are going to come and then you're also like the enforceability of the back-end contract 310 00:25:29.040 --> 00:25:33.760 and then repaying you is probably going to be a little bit nightmare. I would prop like if it were me 311 00:25:33.760 --> 00:25:38.000 I would control the sales and then hand them the deals so that I could collect the payment and 312 00:25:38.000 --> 00:25:43.440 then distribute payment to them rather than expecting them to pay me for the leads. Yeah got it. 313 00:25:43.440 --> 00:25:47.840 So I was like I'd rather just basically build a centralized phone team that could close the 314 00:25:47.840 --> 00:25:53.840 close the the deals or whatever and then you know send the deal to the person. Got it. 315 00:25:53.840 --> 00:25:57.200 And if they're coming from your content and they already have trust you probably like it makes 316 00:25:57.200 --> 00:26:00.400 sense that they would buy from you. You'd be like cool one of our licensed contractors would go out 317 00:26:00.400 --> 00:26:04.960 there. License contractors go through to your training that you know they're vetted by us and also 318 00:26:04.960 --> 00:26:09.920 just like think of it like Harvard you pay to go you don't get guaranteed a graduation. 319 00:26:10.640 --> 00:26:15.200 So it's like I would just let them know it's like we will not graduate you if you're not good. 320 00:26:15.200 --> 00:26:22.960 Right. So yeah or we kick you out just like a school. Like real schools have standards and you 321 00:26:22.960 --> 00:26:28.240 pay and you might not graduate like normal school. So just do the same thing. 322 00:26:29.040 --> 00:26:32.880 Just your kid won't be screwed up when they leave my school. Was that your kid just won't be 323 00:26:32.880 --> 00:26:37.680 screwed up when they leave my school there. Thank you. Oh yeah you're back. My name is Max. 324 00:26:37.680 --> 00:26:43.360 I sell tech and operations consulting to law firms. We started about six months ago and 325 00:26:44.080 --> 00:26:48.960 we went on price clients and we have other ones that are 36 to 80K and they have a 300 to 600K 326 00:26:48.960 --> 00:26:53.680 packages and we need to figure out which one has the highest LTV to crack ratio and which one 327 00:26:53.680 --> 00:26:58.800 you can convert most easily. So what is the issue? That's correct. Essentially well first of all 328 00:26:58.800 --> 00:27:05.360 I have no idea what I'm doing. Okay start about six months ago. First step. Thank you. Second thing 329 00:27:06.000 --> 00:27:13.040 I think we just have a fulfillment issue and so my question is at what point do we consider 330 00:27:13.040 --> 00:27:17.760 productizing the service from what I understand it's kind of what you've done with Jim launch. 331 00:27:17.760 --> 00:27:22.640 Yeah. At what point would it be worth doing doing that if it all? You said you wanted to sell 332 00:27:22.640 --> 00:27:28.880 this eventually right? Yeah. Yeah I wouldn't do that. Okay. Yeah. So you have the same issue 333 00:27:28.880 --> 00:27:32.240 that justice has which is like I have this hard thing in front of me. Can you tell me there's an 334 00:27:32.240 --> 00:27:36.960 easy way? The easy way will create a business that's significantly harder to sell and so then 335 00:27:36.960 --> 00:27:39.680 you'll be at that point and be like how can I sell this business? I'll be like you can go back 336 00:27:39.680 --> 00:27:47.680 in time and not do this. Right. So like basically you're in a high you're in a high skill service 337 00:27:47.680 --> 00:27:52.560 business. It's a professional services business. Most professional services businesses are supply 338 00:27:52.560 --> 00:27:58.720 constraint. It is easy to sell high end professional services if you are good at what you do. 339 00:27:59.440 --> 00:28:05.040 It is hard to find other people who are good. This is the trade. But if you build a firm like that 340 00:28:05.040 --> 00:28:10.160 you build a very valuable company. And another just on a side note that again I don't know what I'm 341 00:28:10.160 --> 00:28:18.160 doing. I got I got a 500k in investment coming in soon. Why? It's been my boss just number one. 342 00:28:18.160 --> 00:28:23.680 Are you taking investment? I don't. So we haven't finalized this yet. But I'm considering whether to do 343 00:28:23.680 --> 00:28:29.200 it or not. No. No. You don't see any point. Why do you need money? You don't run a capital expensive 344 00:28:29.200 --> 00:28:34.400 business. Like what are you going to use the money for? I guess to hire great people. 345 00:28:35.280 --> 00:28:38.720 But the business model should be able to hire great people. Like you're not a tech like they're 346 00:28:38.720 --> 00:28:43.920 it's it's it's very rare that you need to bring on outside capital far rarer than most people 347 00:28:43.920 --> 00:28:47.520 expect. If you want to build a platform you want to build school yeah you got to do that because 348 00:28:47.520 --> 00:28:51.200 you need to get in zillions and zillions of users you have to build this exceptional product before 349 00:28:51.200 --> 00:28:55.360 you monetize. So yeah someone's going to front the money on the bet that it's going to be worth a lot 350 00:28:55.360 --> 00:29:00.400 more later. Your business makes money today on work it does today. And if anything you can sell 351 00:29:00.400 --> 00:29:04.960 the work before you can have the person. And so like you you you have a negative cash flow cycle. 352 00:29:04.960 --> 00:29:08.000 You have no you don't have to like front inventory for months ahead of time. You don't have to do 353 00:29:08.000 --> 00:29:12.080 any of that. So you have a service business. So we just need to make the business make money. 354 00:29:12.080 --> 00:29:16.320 You're already profitable. I'm assuming. Right. So you don't need the 500 red. You have deals that 355 00:29:16.320 --> 00:29:20.880 are worth 500 red. Right. Yep. From what you told me. Yeah. So why would like why would I give a 356 00:29:20.880 --> 00:29:24.480 chunk of the way the company to have somebody who's permanently going to be involved in my business 357 00:29:24.480 --> 00:29:29.520 for the cost of one deal. It's like just sell another deal. Gotcha. Work a little extra on your own 358 00:29:29.520 --> 00:29:34.400 time. And then not don't take that guy's money and just have the money. Okay. You're right. 359 00:29:34.400 --> 00:29:39.200 Then and you you absolutely think then it shouldn't be you know because I feel like I'm creating 360 00:29:39.200 --> 00:29:43.200 extra problem that otherwise wouldn't have to have being the the whole high skill talent thing. 361 00:29:43.200 --> 00:29:46.480 If I just went down the productized route. You think it's really you say products I was talking 362 00:29:46.480 --> 00:29:51.440 about the 36 to 80 K price point. Yes. That's fine. I'm okay with that. But again it's going to 363 00:29:51.440 --> 00:29:54.800 go back to what I originally said, which is we just have to look at the LTV2CAC between those 364 00:29:54.800 --> 00:29:58.560 that's the different amateurs. If the LTV2CAC is literally the example is just saying if you have 365 00:29:58.560 --> 00:30:03.360 a hundred thousand dollar thing that cost me 30 and I make 70 or something that costs 10,000 dollars 366 00:30:03.360 --> 00:30:08.400 that costs a hundred. I'd rather just sell six more of the 10 key things provided. I have the 367 00:30:08.400 --> 00:30:11.440 ability to sell that. So it's like I want to find something that has really good revenue 368 00:30:11.440 --> 00:30:14.480 attention really good gross margins. If I have that then I can just sell the shit out of it. 369 00:30:14.480 --> 00:30:19.520 And then I'd rather just sell five times more of that than try to come up with the you know high 370 00:30:19.520 --> 00:30:24.800 touch one that's going to like is a more immediate ticket today. But it's going to quickly I'm going 371 00:30:24.800 --> 00:30:29.120 to quickly get constrained. So I'm basically pushing out my constraint based on what problem I'd 372 00:30:29.120 --> 00:30:34.160 rather sell today. So the question back to you is do you think you can't so what are the gross 373 00:30:34.160 --> 00:30:39.920 margins on let's say the average on the 36 to 80 K is 50,000. That's done fine. Yeah. Okay. So let's 374 00:30:39.920 --> 00:30:44.480 say 50 K is the average price. What's the gross margin on that? Not too sure. Okay. Yeah. We're 375 00:30:44.480 --> 00:30:52.880 quite early on. So yes half of that. Okay. And then with the 200 K thing that you do was the 376 00:30:52.880 --> 00:30:58.640 gross margin on that 50%. That's gross margin. So you're running thin net margins because that 377 00:30:58.640 --> 00:31:03.200 means you're starting at 50 and you got to pay everything else. Yeah. I mean at the moment we 378 00:31:03.200 --> 00:31:08.640 we are getting this fulfilled by really expensive highly certified guide. It's been in the outside 379 00:31:08.640 --> 00:31:12.960 of the business. Yes. You're basically white label selling his stuff. We do what we can on the inside 380 00:31:12.960 --> 00:31:19.600 but we we accepted quite a few projects. Okay. Then the follow question is can you more easily sell 381 00:31:20.160 --> 00:31:26.720 four times as many of the low touches the high touch. Yes. Then do that one. If your gross margins 382 00:31:26.720 --> 00:31:30.480 the same and you can sell more than four times as many on that one, then do that one. Basically 383 00:31:30.480 --> 00:31:33.920 we're just looking at number of units sold times gross margin. The one that makes the most money. 384 00:31:34.480 --> 00:31:38.000 Got you. So I think it always just comes back to the point of the the LTV. Yeah. 385 00:31:38.000 --> 00:31:43.360 Yeah. Okay. Thanks so much. Hey, but so Alex. What's up? My name is Wu. First of all, thank you. 386 00:31:43.360 --> 00:31:49.120 You helped me turn my senior design project into the day. It's Wu without the who. So yeah. 387 00:31:49.120 --> 00:31:53.520 No, that works right. Thank you. You helped me turn my senior design project at college 388 00:31:53.520 --> 00:31:58.240 into my business. Last year, it's my second year in business. Last year we did 150. Amazing. 389 00:31:58.240 --> 00:32:02.880 I want to get to 500. Were you one of the schools I talked about? No. Okay. Cool. Now I just figured 390 00:32:02.880 --> 00:32:07.760 out that's yeah. I would love to be a 500 K and the one thing that's stopping me is right now 391 00:32:07.760 --> 00:32:12.880 which is just me selling. So 90% of our sales come from in person presentation. What do you sell? 392 00:32:12.880 --> 00:32:17.520 We do digital business cards for primarily in real estate. Digital business cards for real estate. 393 00:32:17.520 --> 00:32:23.920 Yeah. I know somebody else who's in real estate. How old are you? Me at 27. It's a 27. Yeah. I'm old. 394 00:32:26.560 --> 00:32:33.600 Never mind. Never mind. Yeah. But it's digital business card star. It's an NFT. There you go. 395 00:32:34.560 --> 00:32:40.480 Web 3. He's on it. I'm the only salesperson. I have a few vendors. So more better knew 396 00:32:40.480 --> 00:32:47.200 when I'm online, I know that my options are one, duplicate myself, hire salespeople to do what I do. 397 00:32:47.200 --> 00:32:53.920 Sponsor events, pitch and so on. Number two, basically, you transcribe my sales process online 398 00:32:54.400 --> 00:32:59.840 and I wanted to hear what you think is the better move. What's the value prop of the digital business card? 399 00:32:59.840 --> 00:33:04.720 So essentially, we connect to it's like a, I don't know if I'm am I allowed to say like brand names? 400 00:33:04.720 --> 00:33:10.160 Linktree. Sure. Okay. It's like link tree on steroids. Linktree your phone and your CRM all connected. 401 00:33:10.720 --> 00:33:16.560 It builds your CRM on like an auto make. Okay. So people opt in when they scan the QR code. Yeah. 402 00:33:16.560 --> 00:33:22.720 And then that info will go to their CRM essentially. And it like it's got other features like business card scanner. 403 00:33:22.720 --> 00:33:26.720 You scan your business card that info goes to your CRM. But you want to grow this? 404 00:33:27.840 --> 00:33:32.800 So just to be sure, I'm not trying to solve. I just want to make money and this all more expensive 405 00:33:32.800 --> 00:33:37.520 things later. Right now, I'm just using this to make money to make money. Yes. Yeah. Yeah. No hard. 406 00:33:39.440 --> 00:33:44.080 Dude, I think I think if you sold something else, you'd make way more money. I agree. Okay. 407 00:33:47.040 --> 00:33:56.320 But it's some hard pitch. Like what you have is a hard pitch. Because I'd be like your digital business card is here's my Instagram. 408 00:33:56.320 --> 00:34:05.360 That's my digital business card. If you want to find out more about me, watch some content. You know, you should say what else are you into selling man? 409 00:34:05.360 --> 00:34:10.800 Like I just I just I don't know if this is fun. You can sell like you obviously have the skill of sales. 410 00:34:10.800 --> 00:34:15.840 And so I'd rather you just like use that on a better opportunity vehicle. Got it. Okay. 411 00:34:15.840 --> 00:34:25.120 Like like this world is just crumbling. You want to hire me? Well, if you can trust. Yeah, sales. 412 00:34:26.960 --> 00:34:31.760 Ari's are over there. Oh, Stephanie. Stephanie's right there. Stephanie's works in our recruiting. 413 00:34:31.760 --> 00:34:35.280 You can talk to Stephanie. We'll talk about on the real note though. Oh, that was the real. 414 00:34:35.280 --> 00:34:38.880 It's not a real offer. All right. Neither was mine. 415 00:34:39.840 --> 00:34:45.680 So you can play that game on a real note though. Like I don't know what I'm doing. What do I do in the meantime to make money? 416 00:34:45.680 --> 00:34:51.120 Yeah. So you're selling to who had this idea for this digital business? Well, there's your senior, whatever thing, right? 417 00:34:51.120 --> 00:34:56.640 Yeah. And your product. Yeah. One of the big issues I take with and when I do my entrepreneur talks at like college and stuff. 418 00:34:56.640 --> 00:35:02.080 The big thing that I that I hate about those classes is that they try and make seniors invent something. 419 00:35:02.720 --> 00:35:08.400 It's like it's very like invention heavy. Like everyone thinks it's shark tank. Like I have to invent something that doesn't exist. 420 00:35:08.400 --> 00:35:13.280 When you can pretty much just like go look at any business that exists and just do that and probably make way more money. 421 00:35:13.280 --> 00:35:18.240 Like you start a long care business tomorrow, like knocking door to door and probably get to two or three million dollars a year 422 00:35:18.240 --> 00:35:23.440 just with your existing skill set. Like you're able to shake hands and kiss babies and close and so like 423 00:35:24.240 --> 00:35:29.360 like you could sell solar and make 800 grand a year on your own income. 424 00:35:30.240 --> 00:35:33.280 So I was like I'm just saying like there's like I think I would be looking at 425 00:35:34.320 --> 00:35:39.840 so when I was when I was in the presentation yesterday I talked about how like now I look for products that people don't cancel. 426 00:35:39.840 --> 00:35:44.560 I would look for products that people don't cancel. Probably the the people that are similar to who you already sell to. 427 00:35:45.200 --> 00:35:50.000 I would look for that product and then I would use all my sales skills on that rather than trying to explain to them 428 00:35:50.000 --> 00:35:54.560 why they need a digital business card. Got it. Basically for your current pitch to work you have to 429 00:35:55.280 --> 00:35:59.520 you have to create a problem and then solve a problem all within one presentation. 430 00:36:00.240 --> 00:36:04.000 And also explain some stuff that they don't understand how it works. So it's kind of like three things. 431 00:36:04.000 --> 00:36:08.400 I'd rather just like talk to somebody who immediately already knows the problem that they have and I'd be like 432 00:36:08.880 --> 00:36:13.600 I can solve that. And I know from the history of that industry that they don't cancel 433 00:36:14.240 --> 00:36:16.080 and that they're just going to buy for me because they like me better. 434 00:36:16.800 --> 00:36:19.360 Awesome. Well can I have a follow-up question to that? Sure. 435 00:36:19.360 --> 00:36:22.000 Okay, so would you recommend we will ask them the owner once they get it? 436 00:36:22.720 --> 00:36:28.320 Would you recommend that I get a like a sales position at another company or just like sell more expensive? 437 00:36:28.320 --> 00:36:32.160 That's not here. So no, I mean fundamentally every entrepreneur's sales went in hard. 438 00:36:32.160 --> 00:36:37.120 Like we're the promoters and so like you can obviously sell for somebody else or you can sell for yourself. 439 00:36:37.120 --> 00:36:41.840 A good way to learn a new industry is to sell within that industry kind of in the ropes and then try to 440 00:36:41.840 --> 00:36:45.840 basically just figure out leadgen for it. Once you have that then you have leadgen in sales 441 00:36:45.840 --> 00:36:49.440 and it's the only thing that you'd really need would be delivery. If you're good at sales and 442 00:36:49.440 --> 00:36:53.600 I get it training sales which is a different skill then it comes out to like can I like this is where 443 00:36:53.600 --> 00:36:58.160 like insurance sales are incredibly profitable. Like there's really no delivery you just sell the 444 00:36:58.160 --> 00:37:02.640 product right and then there's these massive behemoths that deliver the risk essentially. There's 445 00:37:02.640 --> 00:37:07.040 so many businesses that are basically demand constrained where people stick. You just want to find 446 00:37:07.040 --> 00:37:11.040 one of those that you like that caters to the existing avatar you currently sell to because you 447 00:37:11.040 --> 00:37:14.240 already know that avatar well and from if we're talking speed to money and then sell that. 448 00:37:14.240 --> 00:37:17.280 Got it. Thank you Alex. I'll switch vehicles.