WEBVTT 1 00:00:00.000 --> 00:00:04.720 You're about to watch a conversation between me and Alex Yomar, who's a legal attorney for musicians. 2 00:00:04.720 --> 00:00:07.600 The problem is that he's losing money and lots of it. 3 00:00:07.600 --> 00:00:11.280 Anyways, about six months of cash left before his dream is going to go under. 4 00:00:11.280 --> 00:00:14.160 My name's Oxermezzi, I'm an acquisition.com to fulfill our companies that 5 00:00:14.160 --> 00:00:16.640 last year did over $250 million in aggregate revenue. 6 00:00:16.640 --> 00:00:20.800 And we're going to take all of those findings and help him save his business. Enjoy. 7 00:00:20.800 --> 00:00:22.400 Let's do a quick, quick overview. 8 00:00:22.400 --> 00:00:24.720 So walk me through the businesses that currently stands right now. 9 00:00:24.720 --> 00:00:25.440 What's revenue? 10 00:00:25.440 --> 00:00:28.960 Our revenue for the last 12 months has been 300,000. 11 00:00:28.960 --> 00:00:30.240 Profit? 12 00:00:30.240 --> 00:00:31.840 Oh, negative. 13 00:00:31.840 --> 00:00:33.200 So we're losing money. 14 00:00:33.200 --> 00:00:34.400 Okay, how much? 15 00:00:34.400 --> 00:00:36.240 We lost 100,000. 16 00:00:36.240 --> 00:00:38.560 Okay, minus 100,000. 17 00:00:38.560 --> 00:00:40.160 Yes, you're like, I could have done nothing. 18 00:00:40.160 --> 00:00:42.240 And I would have just had zero at the end of the year. 19 00:00:42.240 --> 00:00:45.760 Instead of working all year and then being worse off, heard. 20 00:00:45.760 --> 00:00:47.360 All right, what are the business units? 21 00:00:47.360 --> 00:00:49.040 Right now we have services. 22 00:00:49.040 --> 00:00:50.160 Okay. 23 00:00:50.160 --> 00:00:51.520 We have education. 24 00:00:51.520 --> 00:00:53.440 Okay, and who do you sell to? 25 00:00:53.440 --> 00:00:57.680 I sell to artists and entrepreneurs in the Latin music industry. 26 00:00:57.680 --> 00:01:01.040 Musicians who are Latin American who speaks Spanish. 27 00:01:01.040 --> 00:01:01.520 Yeah. 28 00:01:01.520 --> 00:01:02.960 Okay, and you sell service. 29 00:01:02.960 --> 00:01:04.480 You sell education was last one software. 30 00:01:04.480 --> 00:01:06.080 What's the revenue breakdown between... 31 00:01:06.080 --> 00:01:07.680 Did any of these make money? 32 00:01:07.680 --> 00:01:09.680 Yeah, the services. 33 00:01:09.680 --> 00:01:10.560 So this made my... 34 00:01:10.560 --> 00:01:11.360 Was profitable. 35 00:01:11.360 --> 00:01:12.080 Yeah, that was profitable. 36 00:01:12.080 --> 00:01:13.920 Okay, what was the top line of bottom line here? 37 00:01:13.920 --> 00:01:17.440 So we made 131,000. 38 00:01:17.440 --> 00:01:18.240 Okay. 39 00:01:18.240 --> 00:01:20.560 And we made about 10k for the... 40 00:01:20.560 --> 00:01:22.400 In the last 10, 12 months. 41 00:01:22.400 --> 00:01:22.880 In profit? 42 00:01:22.880 --> 00:01:23.600 Yeah, in profit. 43 00:01:23.600 --> 00:01:25.680 Because you just didn't lose money on this one, basically. 44 00:01:25.680 --> 00:01:26.480 Okay. 45 00:01:26.560 --> 00:01:27.760 And then education? 46 00:01:27.760 --> 00:01:29.440 131 as well. 47 00:01:29.440 --> 00:01:29.920 Oh. 48 00:01:29.920 --> 00:01:31.040 How coincidental. 49 00:01:31.040 --> 00:01:31.840 All right, profit. 50 00:01:32.640 --> 00:01:33.840 But we lost their like... 51 00:01:34.720 --> 00:01:37.440 Most of the money we lost between the two. 52 00:01:37.440 --> 00:01:37.760 Okay. 53 00:01:37.760 --> 00:01:40.480 So it's between the two because they're under one company. 54 00:01:40.480 --> 00:01:40.880 Got it. 55 00:01:40.880 --> 00:01:41.760 And so this is 40k. 56 00:01:41.760 --> 00:01:43.920 I'm just going to put this for the software. 57 00:01:43.920 --> 00:01:46.960 And then the money that you lost here was how much 58 00:01:46.960 --> 00:01:47.280 and total. 59 00:01:47.280 --> 00:01:49.840 I guess I'm under the $110,000. 60 00:01:49.840 --> 00:01:52.560 Okay, put a little negative smiley face there. 61 00:01:52.560 --> 00:01:53.520 Here's a little tears. 62 00:01:53.520 --> 00:01:54.160 There we go. 63 00:01:54.160 --> 00:01:54.880 Very sad. 64 00:01:54.880 --> 00:01:55.280 Okay. 65 00:01:55.280 --> 00:01:55.920 More tears. 66 00:01:55.920 --> 00:01:57.360 Yeah, more tears. 67 00:01:57.360 --> 00:01:58.800 All right, so how are you... 68 00:01:58.800 --> 00:02:00.320 How are you getting customers right now? 69 00:02:00.320 --> 00:02:01.920 Before we talk about how we're going to fix this. 70 00:02:01.920 --> 00:02:02.720 How are you getting customers? 71 00:02:02.720 --> 00:02:04.320 So we create content on YouTube. 72 00:02:04.320 --> 00:02:06.720 We have about 90,000 subscribers. 73 00:02:06.720 --> 00:02:08.800 Is that where most like everybody's coming from? 74 00:02:08.800 --> 00:02:09.360 Yeah. 75 00:02:09.360 --> 00:02:10.160 Okay. 76 00:02:10.160 --> 00:02:11.360 So we got... 77 00:02:11.360 --> 00:02:12.960 We got YouTube. 78 00:02:12.960 --> 00:02:13.360 All right. 79 00:02:13.360 --> 00:02:14.160 What else we got? 80 00:02:14.160 --> 00:02:17.360 Then they usually go to our Instagram page. 81 00:02:17.360 --> 00:02:18.240 From YouTube? 82 00:02:18.240 --> 00:02:19.120 Yeah. 83 00:02:19.120 --> 00:02:20.080 Okay. 84 00:02:20.080 --> 00:02:20.640 Is that the... 85 00:02:20.640 --> 00:02:22.400 That's like the call to action in the videos. 86 00:02:22.400 --> 00:02:25.360 No, the call to action is to go to our website. 87 00:02:26.000 --> 00:02:30.640 But a lot of people go to Instagram to just ask questions. 88 00:02:30.640 --> 00:02:32.000 Like, hey, I have this problem. 89 00:02:32.000 --> 00:02:32.800 Can you help me? 90 00:02:32.800 --> 00:02:33.680 Interesting. 91 00:02:33.680 --> 00:02:34.800 Okay, got it. 92 00:02:35.440 --> 00:02:37.360 So where do the sales come from then? 93 00:02:38.160 --> 00:02:40.560 The sales comes through DMs. 94 00:02:40.560 --> 00:02:44.000 So usually they go to Instagram and they'll ask a question. 95 00:02:44.000 --> 00:02:46.800 So the place that you don't intend people to go is where you make your money? 96 00:02:47.600 --> 00:02:48.320 Yeah, Instagram. 97 00:02:48.880 --> 00:02:50.080 And you don't tell people to go there. 98 00:02:50.080 --> 00:02:50.800 They just find... 99 00:02:50.800 --> 00:02:52.480 No, yeah, they just find us. 100 00:02:52.480 --> 00:02:52.800 Okay. 101 00:02:53.680 --> 00:02:55.680 All right, we'll put a little star next to that. 102 00:02:55.920 --> 00:02:58.880 If all the money's coming in from Instagram, how many DMs do you get? 103 00:02:58.880 --> 00:03:00.560 So don't have that number. 104 00:03:00.560 --> 00:03:01.920 We know that from the website. 105 00:03:01.920 --> 00:03:05.440 We generate about 7,000 visitors. 106 00:03:05.440 --> 00:03:06.240 Okay. 107 00:03:06.240 --> 00:03:08.880 And for example, in April, 108 00:03:08.880 --> 00:03:12.560 we made 150 leads this far. 109 00:03:12.560 --> 00:03:14.160 So 7,000 clicks, got it. 110 00:03:15.120 --> 00:03:15.520 All right. 111 00:03:15.520 --> 00:03:18.320 And then that goes into 150. 112 00:03:19.200 --> 00:03:20.160 Okay, got it. 113 00:03:20.160 --> 00:03:22.000 So you're converting 2%. 114 00:03:22.000 --> 00:03:22.960 Okay, into opt-ins? 115 00:03:23.520 --> 00:03:25.680 Yeah, they're for free course. 116 00:03:26.160 --> 00:03:27.760 They're getting opt-in free course. 117 00:03:27.760 --> 00:03:28.560 Yeah. 118 00:03:28.560 --> 00:03:29.120 Got it. 119 00:03:29.120 --> 00:03:29.520 Okay. 120 00:03:29.520 --> 00:03:30.160 And then from there? 121 00:03:30.880 --> 00:03:37.280 And then from there, usually we'll try to sell them the course or main course. 122 00:03:37.280 --> 00:03:38.240 How do you try and sell them? 123 00:03:38.240 --> 00:03:39.520 Do you like reach out to them? 124 00:03:39.520 --> 00:03:40.160 Do you... 125 00:03:40.160 --> 00:03:42.160 With every video, we usually tell them, 126 00:03:42.160 --> 00:03:44.480 and if you want to learn more about this, 127 00:03:44.480 --> 00:03:46.480 make sure to enroll in our... 128 00:03:46.480 --> 00:03:46.800 Community. 129 00:03:47.600 --> 00:03:52.400 The next step for that, they'll go through the course and receive some nurturing emails. 130 00:03:52.400 --> 00:03:55.440 And then from the emails is how they buy. 131 00:03:55.440 --> 00:03:57.280 And what are they buying from the emails? 132 00:03:57.280 --> 00:04:00.320 So right now, we're selling about nine. 133 00:04:00.320 --> 00:04:02.080 Nine out of 150? 134 00:04:02.080 --> 00:04:06.480 Our basic offer is $500, one-time fee. 135 00:04:06.480 --> 00:04:10.160 So they have access to all of our courses now and forever. 136 00:04:10.160 --> 00:04:10.880 Okay. 137 00:04:10.880 --> 00:04:13.920 And then we have an upsell of another 500. 138 00:04:13.920 --> 00:04:15.520 To say, on a funnel or something? 139 00:04:15.520 --> 00:04:19.600 Yeah, in the same cart where they, when they buy the 500, 140 00:04:19.600 --> 00:04:24.320 we'll upsell them to another 500 for monthly Q&A. 141 00:04:24.320 --> 00:04:25.040 Per month? 142 00:04:25.040 --> 00:04:26.720 No, just lifetime as well. 143 00:04:26.720 --> 00:04:27.040 Forever. 144 00:04:27.920 --> 00:04:28.880 Yeah, that's okay. 145 00:04:28.880 --> 00:04:30.560 Oh gosh, okay. 146 00:04:30.560 --> 00:04:33.920 So there's so many Emmy and where do there's so many things. 147 00:04:33.920 --> 00:04:36.240 Before we tear this apart, the good news is, 148 00:04:36.960 --> 00:04:38.960 I actually think that you'll be able to make significantly more money, 149 00:04:38.960 --> 00:04:39.520 pretty quickly. 150 00:04:40.080 --> 00:04:42.320 So this is your education side? 151 00:04:42.320 --> 00:04:42.960 Yeah. 152 00:04:42.960 --> 00:04:44.800 All right, what's the services side? 153 00:04:44.800 --> 00:04:47.440 So on the same Instagram page, 154 00:04:47.440 --> 00:04:51.760 if they want a consultation instead of learning 155 00:04:51.760 --> 00:04:54.160 because they say, I'm not interested in learning, 156 00:04:54.160 --> 00:04:55.840 I just want to do it. 157 00:04:55.840 --> 00:04:57.360 Yeah, when you do it, 158 00:04:57.360 --> 00:05:00.400 we'll then send them to our calendar link 159 00:05:00.400 --> 00:05:02.240 to schedule a consultation. 160 00:05:02.240 --> 00:05:05.280 And that's $250 for an hour. 161 00:05:05.280 --> 00:05:07.840 So you go DM to calendar. 162 00:05:08.880 --> 00:05:12.320 Okay, and then you charge before you have the call? 163 00:05:12.320 --> 00:05:12.800 Yeah. 164 00:05:12.800 --> 00:05:14.560 Man, okay. 165 00:05:14.560 --> 00:05:15.360 Okay. 166 00:05:15.360 --> 00:05:16.320 $250. 167 00:05:16.320 --> 00:05:19.920 Dude, the good news is, there's lots of room for improvement. 168 00:05:19.920 --> 00:05:23.680 Okay, so you have your calendar and then you charge $250 per hour 169 00:05:23.680 --> 00:05:26.000 and they pay on the calendar to have access. 170 00:05:26.000 --> 00:05:26.960 Yes. 171 00:05:26.960 --> 00:05:27.440 Man. 172 00:05:27.440 --> 00:05:27.920 All right. 173 00:05:27.920 --> 00:05:31.520 And so that means that you sold somewhere in the neighborhood 174 00:05:31.520 --> 00:05:35.920 of 600 and 30, 175 00:05:35.920 --> 00:05:38.560 something like whatever the math is, 131 times 4 176 00:05:38.560 --> 00:05:40.480 does 42520. 177 00:05:40.480 --> 00:05:41.920 So 524. 178 00:05:41.920 --> 00:05:44.000 So 524 hours is what you're able to sell 179 00:05:44.000 --> 00:05:45.760 in services last year. 180 00:05:45.760 --> 00:05:47.600 You could get your $131,000. 181 00:05:47.600 --> 00:05:48.400 Okay. 182 00:05:48.400 --> 00:05:49.840 Between the consultations, 183 00:05:49.840 --> 00:05:53.040 because usually when they go through the consultation, 184 00:05:53.040 --> 00:05:54.320 say, for example, 185 00:05:54.320 --> 00:05:56.480 they in the last three months with average 186 00:05:56.480 --> 00:05:58.720 about nine to 10 calls, 187 00:05:58.720 --> 00:06:01.600 so then from there we'll either tell them, 188 00:06:01.600 --> 00:06:03.280 do you need a deliverable service? 189 00:06:03.280 --> 00:06:04.400 So for example, 190 00:06:04.400 --> 00:06:06.880 registering your trademark or business formation, 191 00:06:06.880 --> 00:06:09.520 those are three out of the 10, you can say. 192 00:06:09.600 --> 00:06:13.040 And then another three are ongoing legal services. 193 00:06:13.040 --> 00:06:14.000 Okay. 194 00:06:14.000 --> 00:06:15.600 And what other business do you have? 195 00:06:15.600 --> 00:06:16.720 Let's talk about that. 196 00:06:16.720 --> 00:06:19.040 So the other business is the software. 197 00:06:19.040 --> 00:06:20.840 Because you're like, you know, I'm not losing money. 198 00:06:20.840 --> 00:06:22.640 So I should, I am losing money. 199 00:06:22.640 --> 00:06:23.520 Excuse me, so I'm going to, 200 00:06:23.520 --> 00:06:24.880 I'm going to spread my attention even more. 201 00:06:24.880 --> 00:06:25.880 Yeah, okay. 202 00:06:25.880 --> 00:06:26.880 So we're like, 203 00:06:26.880 --> 00:06:28.440 there's a story behind that. 204 00:06:28.440 --> 00:06:29.560 It's a VC story. 205 00:06:29.560 --> 00:06:31.120 So if you want a horror story, 206 00:06:31.120 --> 00:06:32.120 I can give you that. 207 00:06:32.120 --> 00:06:33.880 We'll get, we'll get, we'll get into it. 208 00:06:33.880 --> 00:06:34.880 I'm sure. 209 00:06:34.880 --> 00:06:37.160 All right, so there's the software company. 210 00:06:37.160 --> 00:06:38.560 Okay, so let's walk through that. 211 00:06:38.560 --> 00:06:41.480 So the software is Instagram. 212 00:06:41.480 --> 00:06:43.640 Yeah, it's the same thing. 213 00:06:43.640 --> 00:06:44.480 Okay. 214 00:06:44.480 --> 00:06:48.640 Usually they'll say, I don't have $250. 215 00:06:48.640 --> 00:06:52.200 I just want a contract and we'll tell them, 216 00:06:52.200 --> 00:06:53.800 well, you can access, you know, 217 00:06:53.800 --> 00:06:56.480 all of our contract templates inside of software 218 00:06:56.480 --> 00:06:58.600 so you can pay for that. 219 00:06:58.600 --> 00:06:59.600 Okay. 220 00:06:59.600 --> 00:07:01.040 And that's what happens. 221 00:07:01.040 --> 00:07:02.160 Right now we're getting science. 222 00:07:02.160 --> 00:07:03.400 So as a via Instagram, 223 00:07:03.400 --> 00:07:07.480 you just send those people a, not a calendar link, 224 00:07:07.480 --> 00:07:09.440 and you don't send them the site, you send them to, 225 00:07:09.440 --> 00:07:11.440 to our web, to our software website. 226 00:07:11.440 --> 00:07:12.920 So which is a different website. 227 00:07:12.920 --> 00:07:14.960 And then they just check out on that page. 228 00:07:14.960 --> 00:07:17.280 They start a free, we had a premium, 229 00:07:17.280 --> 00:07:19.280 and now we're using free trial. 230 00:07:19.280 --> 00:07:20.120 Okay. 231 00:07:20.120 --> 00:07:21.800 And what's the membership price? 232 00:07:21.800 --> 00:07:23.840 Right now is a thousand per year. 233 00:07:23.840 --> 00:07:26.040 And that's what, so it goes straight to a thousand per year 234 00:07:26.040 --> 00:07:27.280 is what you were billing? 235 00:07:27.280 --> 00:07:30.200 Yes, we also have a monthly version. 236 00:07:30.200 --> 00:07:32.440 They were like, I can't afford $250. 237 00:07:32.440 --> 00:07:34.280 And you're like, yes, a pay a thousand dollars a year. 238 00:07:34.280 --> 00:07:37.080 Before we have a $500 per year. 239 00:07:37.480 --> 00:07:38.800 So it was easier. 240 00:07:38.800 --> 00:07:42.200 The problem is that the value proposition at first was, 241 00:07:42.200 --> 00:07:44.200 well pay us and we give you the contracts, 242 00:07:44.200 --> 00:07:46.440 but learning that people were churning 243 00:07:46.440 --> 00:07:48.240 because once they have the contract, 244 00:07:48.240 --> 00:07:49.840 they'll download it and just go away. 245 00:07:49.840 --> 00:07:51.520 We have a couple of decisions that we have to make. 246 00:07:51.520 --> 00:07:54.400 Is there any reason that you just don't sell services 247 00:07:54.400 --> 00:07:55.240 and make money? 248 00:07:55.240 --> 00:07:59.360 So, well, the reality is we started selling services 249 00:07:59.360 --> 00:08:01.000 in back in 2019. 250 00:08:01.000 --> 00:08:05.560 So in 2021, people, we got a lot of demand. 251 00:08:05.560 --> 00:08:06.760 I couldn't keep up. 252 00:08:06.760 --> 00:08:10.240 I started selling courses so they could learn 253 00:08:10.240 --> 00:08:12.080 about how to do them themselves. 254 00:08:12.080 --> 00:08:16.320 And then after that, I also contract templates. 255 00:08:16.320 --> 00:08:18.120 And then the education side, 256 00:08:18.120 --> 00:08:20.760 just, we started making the same amount 257 00:08:20.760 --> 00:08:22.160 of money and education as I'm sorry. 258 00:08:22.160 --> 00:08:23.560 This is gonna be an important one for you. 259 00:08:23.560 --> 00:08:24.400 Yeah. 260 00:08:24.400 --> 00:08:26.520 All right, so actually you know what I'm gonna show you 261 00:08:26.520 --> 00:08:27.440 on my logo. 262 00:08:27.440 --> 00:08:30.000 Two most important concepts in business. 263 00:08:30.000 --> 00:08:31.760 Supply and demand and leverage. 264 00:08:31.760 --> 00:08:35.680 So, if supply is low and demand is high, 265 00:08:35.680 --> 00:08:36.960 what happens to price? 266 00:08:36.960 --> 00:08:38.480 And it goes up. 267 00:08:38.480 --> 00:08:40.000 Is that what happened? 268 00:08:40.000 --> 00:08:41.560 Yeah, we started doing that, yes. 269 00:08:41.560 --> 00:08:42.720 But then you created this other thing 270 00:08:42.720 --> 00:08:45.000 that was much cheaper, rather than just saying, 271 00:08:45.000 --> 00:08:46.960 I don't have enough supply, pay me more. 272 00:08:46.960 --> 00:08:48.080 You're right. 273 00:08:48.080 --> 00:08:48.920 All right. 274 00:08:48.920 --> 00:08:50.920 We wanted to help more people instead of just... 275 00:08:50.920 --> 00:08:51.760 Yeah. 276 00:08:51.760 --> 00:08:53.280 But the thing is, is that a long enough time rise 277 00:08:53.280 --> 00:08:54.760 and you'll have known if we don't make 278 00:08:54.760 --> 00:08:56.680 this business profitable, right? 279 00:08:56.680 --> 00:08:57.520 Yes. 280 00:08:57.520 --> 00:08:58.880 So, okay. 281 00:08:58.880 --> 00:09:02.600 Tell me why we can't shut down the education in software 282 00:09:02.600 --> 00:09:04.120 so that we can just do services. 283 00:09:04.120 --> 00:09:05.480 And then we can fix the service business 284 00:09:05.480 --> 00:09:06.400 to make it make money. 285 00:09:06.400 --> 00:09:07.240 Yeah. 286 00:09:07.240 --> 00:09:08.240 So, the educational side, 287 00:09:08.240 --> 00:09:10.760 we already have over 800 people. 288 00:09:10.760 --> 00:09:12.720 They're like lifetime, every year. 289 00:09:12.720 --> 00:09:13.560 Lifetime everything. 290 00:09:13.560 --> 00:09:14.720 Lifetime everything. 291 00:09:14.720 --> 00:09:18.600 The thing with the education is that it's part of... 292 00:09:18.600 --> 00:09:20.840 We are giving back to the community 293 00:09:20.840 --> 00:09:22.720 and nobody else is doing this. 294 00:09:22.720 --> 00:09:23.560 All right. 295 00:09:23.560 --> 00:09:26.280 So, every time, thanks to the education efforts, 296 00:09:26.280 --> 00:09:27.680 we are traveling the world 297 00:09:27.680 --> 00:09:29.400 and teaching other people in Guatemala, 298 00:09:29.400 --> 00:09:31.120 in the Dominican Republic in Spain, 299 00:09:31.120 --> 00:09:32.720 how the music business works. 300 00:09:32.720 --> 00:09:34.280 Because in those places, 301 00:09:34.280 --> 00:09:37.080 our content is the university's content. 302 00:09:37.080 --> 00:09:40.440 So, it's an impact project, right? 303 00:09:40.440 --> 00:09:41.280 Okay. 304 00:09:41.280 --> 00:09:42.360 So, that is why the education, 305 00:09:42.360 --> 00:09:45.400 you know, it would be very difficult for us to shut down 306 00:09:45.400 --> 00:09:48.720 and the education without the software is not losing money. 307 00:09:48.720 --> 00:09:50.360 It's the software that actually... 308 00:09:50.360 --> 00:09:51.880 Okay, so when we did this breakdown, 309 00:09:51.880 --> 00:09:53.440 you said the education loses money. 310 00:09:53.440 --> 00:09:54.960 So, how much money does the education make 311 00:09:54.960 --> 00:09:56.400 if you don't have the software? 312 00:09:56.400 --> 00:09:59.040 In reality, the education would be a break even. 313 00:09:59.040 --> 00:10:00.120 Okay. 314 00:10:00.120 --> 00:10:01.840 That whole money that we're losing... 315 00:10:01.840 --> 00:10:02.840 So, this is zero. 316 00:10:02.840 --> 00:10:03.680 Yeah. 317 00:10:03.680 --> 00:10:06.760 But you said this is 110,000 of losses. 318 00:10:06.760 --> 00:10:11.640 So, that means the software costs you 150,000 a year 319 00:10:11.640 --> 00:10:13.680 and makes you 40. 320 00:10:13.680 --> 00:10:14.520 Yes. 321 00:10:14.520 --> 00:10:15.360 Okay. 322 00:10:15.360 --> 00:10:16.200 You could say that. 323 00:10:16.200 --> 00:10:18.400 So, why can't we be done with the software? 324 00:10:18.400 --> 00:10:20.640 So, the software right now, 325 00:10:20.640 --> 00:10:24.920 there's not a specific reason we can shut it down. 326 00:10:25.480 --> 00:10:30.480 We've seen traction on the B2B side of companies 327 00:10:30.480 --> 00:10:34.080 in the music industry that are interested in using our software 328 00:10:34.080 --> 00:10:37.120 because their clients, like big companies, 329 00:10:37.120 --> 00:10:40.760 now need a music contract software to manage their documents. 330 00:10:40.760 --> 00:10:42.520 So, they play there for us. 331 00:10:42.520 --> 00:10:43.520 So, what the software? 332 00:10:43.520 --> 00:10:44.520 The software. 333 00:10:44.520 --> 00:10:46.120 But that is something that... 334 00:10:46.120 --> 00:10:48.080 How much does it cost you to develop the software? 335 00:10:48.080 --> 00:10:50.320 Right now, it's burning 7K a month 336 00:10:50.320 --> 00:10:53.800 because we cut every, you know, 337 00:10:53.800 --> 00:10:55.280 every employee before. 338 00:10:55.280 --> 00:10:58.640 How likely is it that you think that you're going to sell the software? 339 00:10:58.640 --> 00:10:59.640 I'm not sure. 340 00:10:59.640 --> 00:11:02.360 And the other thing is the software, actually, right now, 341 00:11:02.360 --> 00:11:09.120 the way we are seeing it grow is by bundling services with software. 342 00:11:09.120 --> 00:11:11.760 Well, it's obvious that the service is the thing that everyone needs. 343 00:11:11.760 --> 00:11:12.760 Yes. 344 00:11:12.760 --> 00:11:15.320 And then we just have like this other stuff that we did to be cute. 345 00:11:15.320 --> 00:11:17.040 Where do you want to grow from here? 346 00:11:17.040 --> 00:11:18.120 What do you want to have happen? 347 00:11:18.120 --> 00:11:21.960 The thing that we need is to be profitable. 348 00:11:21.960 --> 00:11:22.960 Okay. 349 00:11:22.960 --> 00:11:23.960 I saw very easily. 350 00:11:23.960 --> 00:11:24.960 That's the good news. 351 00:11:24.960 --> 00:11:25.960 Yeah. 352 00:11:25.960 --> 00:11:26.960 But it will just be painful. 353 00:11:26.960 --> 00:11:27.960 Yeah. 354 00:11:27.960 --> 00:11:28.960 But it's good pain. 355 00:11:28.960 --> 00:11:29.960 Growing pains. 356 00:11:29.960 --> 00:11:30.960 Yeah. 357 00:11:30.960 --> 00:11:31.960 Calm growing pains. 358 00:11:31.960 --> 00:11:33.960 If you lose a negative, it's a positive. 359 00:11:33.960 --> 00:11:34.960 So, okay. 360 00:11:34.960 --> 00:11:40.440 So, in a world, hypothetically, where you just ended the software tomorrow. 361 00:11:40.440 --> 00:11:42.480 And then you have the education and services. 362 00:11:42.480 --> 00:11:47.080 What is required for you to maintain the education workwise per week? 363 00:11:47.080 --> 00:11:52.800 Right now, it's only one live stream with the community per month. 364 00:11:52.800 --> 00:11:53.800 Per month. 365 00:11:53.800 --> 00:11:54.800 Yeah. 366 00:11:54.800 --> 00:11:55.800 That's the only thing. 367 00:11:55.800 --> 00:11:56.800 That's it. 368 00:11:56.800 --> 00:11:57.800 Okay. 369 00:11:57.800 --> 00:11:58.800 Great. 370 00:11:58.800 --> 00:11:59.800 Can we just shut down the software? 371 00:11:59.800 --> 00:12:00.800 We can do that. 372 00:12:00.800 --> 00:12:01.800 Wow. 373 00:12:01.800 --> 00:12:02.800 That was easy. 374 00:12:02.800 --> 00:12:03.800 Okay. 375 00:12:03.800 --> 00:12:04.800 Great. 376 00:12:04.800 --> 00:12:05.800 I love this for us. 377 00:12:05.800 --> 00:12:06.800 Okay. 378 00:12:06.800 --> 00:12:07.800 So, we're going to ex this out. 379 00:12:07.800 --> 00:12:08.800 Let's use a red. 380 00:12:08.800 --> 00:12:09.800 Let's keep this. 381 00:12:09.800 --> 00:12:10.800 You know, keep this on brand here. 382 00:12:10.800 --> 00:12:11.800 So, this is a red. 383 00:12:11.800 --> 00:12:14.120 I'm going to say that this isn't really a business. 384 00:12:14.120 --> 00:12:16.240 I'm going to say this is a charity. 385 00:12:16.240 --> 00:12:18.840 You might even want to operate it like a nonprofit because it doesn't make any profit 386 00:12:18.840 --> 00:12:19.840 anyways. 387 00:12:19.840 --> 00:12:21.840 And you're very, you know, kind of impact-driven or whatnot. 388 00:12:21.840 --> 00:12:25.920 So then what's the cost on the 131,000 in services? 389 00:12:25.920 --> 00:12:30.560 The cost would be the associate who is delivering the services. 390 00:12:30.560 --> 00:12:31.560 Okay. 391 00:12:31.560 --> 00:12:33.560 Right now, we have a revshare model. 392 00:12:33.560 --> 00:12:34.560 Okay. 393 00:12:34.560 --> 00:12:42.000 But we also have, because the services, for example, this year, we are already at 150, 394 00:12:42.000 --> 00:12:43.000 okay. 395 00:12:43.000 --> 00:12:44.000 Okay. 396 00:12:44.000 --> 00:12:45.000 Great. 397 00:12:45.240 --> 00:12:46.760 Thanks to the education. 398 00:12:46.760 --> 00:12:47.760 Yeah. 399 00:12:47.760 --> 00:12:53.760 The next generation of artists are looking towards us to represent them in deals, closing deals, 400 00:12:53.760 --> 00:12:54.760 right? 401 00:12:54.760 --> 00:12:55.760 Okay. 402 00:12:55.760 --> 00:12:57.520 So from there, we take a commission from the deal. 403 00:12:57.520 --> 00:12:58.520 Okay. 404 00:12:58.520 --> 00:13:04.920 So, for example, we've recently closed several deals that are above 500,000 for the artists. 405 00:13:04.920 --> 00:13:05.920 Amazing. 406 00:13:05.920 --> 00:13:07.920 And we take 5% from those. 407 00:13:07.920 --> 00:13:08.920 Okay. 408 00:13:08.920 --> 00:13:09.920 So. 409 00:13:09.920 --> 00:13:11.120 Do you guys act as an agent for that? 410 00:13:11.120 --> 00:13:13.040 No, they're lawyers representative. 411 00:13:13.040 --> 00:13:16.720 Those are legal fees that the label will also pay us. 412 00:13:16.720 --> 00:13:20.640 That's the music industry is heavily commission-based. 413 00:13:20.640 --> 00:13:23.880 So they get an advance, and the label will- 414 00:13:23.880 --> 00:13:26.880 So the services strike again in making- 415 00:13:26.880 --> 00:13:27.880 Yeah. 416 00:13:27.880 --> 00:13:28.880 Wonderful. 417 00:13:28.880 --> 00:13:33.000 So, what I want to do is re-imagine the business in the simplest format possible that's 418 00:13:33.000 --> 00:13:35.640 organized to make you money both short and long term. 419 00:13:35.640 --> 00:13:36.640 Is that okay? 420 00:13:36.640 --> 00:13:37.640 Yes. 421 00:13:37.640 --> 00:13:38.640 All right. 422 00:13:38.640 --> 00:13:41.840 So, I'm going to draw it across the top here, and we're going to draw it in green, because 423 00:13:41.840 --> 00:13:43.440 this is the money path. 424 00:13:43.440 --> 00:13:44.440 All right. 425 00:13:44.440 --> 00:13:45.440 This is the money path. 426 00:13:45.440 --> 00:13:46.840 You keep your YouTube where it is. 427 00:13:46.840 --> 00:13:51.040 Now, what I want you to do is I want you to have four different places that you're going 428 00:13:51.040 --> 00:13:53.040 to embed and call us to action. 429 00:13:53.040 --> 00:13:54.040 All right. 430 00:13:54.040 --> 00:13:58.760 So, number one is, at the 30% mark of every video, I want you to make a quick 30 seconds. 431 00:13:58.760 --> 00:14:03.080 Like, hey, by the way, if you want us to help you out with your music business right 432 00:14:03.080 --> 00:14:06.120 now, just DM me on Instagram, and I'd love to help you out. 433 00:14:06.120 --> 00:14:07.120 This is my handle. 434 00:14:07.120 --> 00:14:08.120 Okay. 435 00:14:08.120 --> 00:14:09.360 Number two is the description. 436 00:14:09.360 --> 00:14:10.360 All right. 437 00:14:10.360 --> 00:14:12.360 And you want to make sure that it's above the fold. 438 00:14:12.360 --> 00:14:16.080 So, you know, below this video right now, you'll probably see two links. 439 00:14:16.080 --> 00:14:18.640 One is for people who are trying to start business, which they go to school, and if you 440 00:14:18.640 --> 00:14:20.800 already have a business and you're trying to scale in here, like, you know, a million 441 00:14:20.800 --> 00:14:25.240 bucks a year or more, you know, 500,000 or more, $10 million a year or more, you can go 442 00:14:25.240 --> 00:14:28.880 to acquisition.com and, you know, schedule call their team and see if we can help you out. 443 00:14:28.880 --> 00:14:29.880 All right. 444 00:14:29.880 --> 00:14:30.880 So, we have a description. 445 00:14:30.880 --> 00:14:35.360 Now, on top of that, pinned comment, so you can own that real estate. 446 00:14:35.360 --> 00:14:39.680 We also have your profile on YouTube, which gets traffic as well. 447 00:14:39.680 --> 00:14:44.680 And so, there's four places that we can actually just put in all of the CTAs here, our DM 448 00:14:44.680 --> 00:14:45.680 me on Instagram. 449 00:14:45.680 --> 00:14:46.680 Why are we doing that? 450 00:14:46.680 --> 00:14:47.680 Because it already works. 451 00:14:47.680 --> 00:14:48.680 I'm not trying to break it. 452 00:14:48.680 --> 00:14:49.680 All right. 453 00:14:49.680 --> 00:14:50.680 So, now, everything's going to Instagram. 454 00:14:50.680 --> 00:14:52.680 So, instead of having the site, we don't even care about the site. 455 00:14:52.680 --> 00:14:53.680 Who cares? 456 00:14:53.680 --> 00:14:54.680 It doesn't matter. 457 00:14:54.680 --> 00:14:56.200 So, we're going to DM me on Instagram. 458 00:14:56.200 --> 00:15:00.680 And then from there, what I want you to do is I don't want you to have them book a call 459 00:15:00.680 --> 00:15:01.680 without paying. 460 00:15:01.680 --> 00:15:04.640 And then what we're going to do is we're going to sell them. 461 00:15:04.640 --> 00:15:07.800 And what we're going to do is we're going to sell them a package. 462 00:15:07.800 --> 00:15:09.640 And we're going to sell it to the outcome. 463 00:15:09.640 --> 00:15:13.960 And you're going to say, hey, a lot of lawyers like to charge by the hour. 464 00:15:13.960 --> 00:15:17.760 The reason that we don't do that model is because it disincentivizes us. 465 00:15:17.760 --> 00:15:20.360 Our, basically, our incentives are adverse to you. 466 00:15:20.360 --> 00:15:23.560 When we do it by the hour, we're incentivized to take as long as we're really possible. 467 00:15:23.560 --> 00:15:25.880 So, it means it costs you more, and it takes longer. 468 00:15:25.880 --> 00:15:26.880 That sucks. 469 00:15:26.880 --> 00:15:30.200 So, what we're going to do is we're just going to charge you for the outcome period. 470 00:15:30.200 --> 00:15:31.200 That's it. 471 00:15:31.200 --> 00:15:32.200 How's that sound? 472 00:15:32.200 --> 00:15:33.200 Yeah. 473 00:15:33.200 --> 00:15:37.560 So, we have to qualify them before they can go to the landing page because, you know, 474 00:15:37.560 --> 00:15:43.160 there's 10 million artists on Spotify, and only 1,000 are professional, maybe 2,000 475 00:15:43.160 --> 00:15:44.160 are professional. 476 00:15:44.160 --> 00:15:46.760 So, do you see that they're landing page? 477 00:15:46.760 --> 00:15:47.760 Yeah. 478 00:15:47.760 --> 00:15:49.600 But, they all eat. 479 00:15:49.600 --> 00:15:50.600 They all have cars. 480 00:15:50.600 --> 00:15:51.600 They all have cell phones. 481 00:15:51.600 --> 00:15:53.120 They all pay mortgages and rent. 482 00:15:53.120 --> 00:15:54.120 We're not. 483 00:15:54.120 --> 00:15:55.120 We don't. 484 00:15:55.120 --> 00:15:57.560 You sell to a lot of up and commerce and newcomers. 485 00:15:57.560 --> 00:16:00.880 They're going to use, just like you have been spending your education money that you make 486 00:16:00.880 --> 00:16:05.920 money on this dream that you have and losing money, we're going to have them do the same 487 00:16:05.920 --> 00:16:06.920 thing. 488 00:16:06.920 --> 00:16:10.280 They're going to take their job money and spend it on their dream. 489 00:16:10.280 --> 00:16:11.440 And hopefully they make it. 490 00:16:11.440 --> 00:16:14.600 But our goal isn't to try and figure out who's going to make it. 491 00:16:14.600 --> 00:16:16.640 Our job is to enable the opportunity. 492 00:16:16.640 --> 00:16:21.720 So, the pre-qualification that I would have here is just income. 493 00:16:21.720 --> 00:16:25.080 Not like, and if you want, you can have their Spotify if you think that matters, you know, 494 00:16:25.080 --> 00:16:26.080 in the qualification. 495 00:16:26.080 --> 00:16:27.080 But fundamentally, yeah. 496 00:16:27.080 --> 00:16:28.080 Okay. 497 00:16:28.080 --> 00:16:29.080 That's what I figured. 498 00:16:29.080 --> 00:16:34.000 Yeah, because if you, I've worked with different artists that there's Spotify, for example, 499 00:16:34.000 --> 00:16:35.000 I have a Spotify. 500 00:16:35.000 --> 00:16:36.560 I'm an guitar player. 501 00:16:36.560 --> 00:16:39.640 And I have 15,000 monthly listeners. 502 00:16:39.640 --> 00:16:44.840 But you wouldn't take that to the term being whether I can play you or not. 503 00:16:44.840 --> 00:16:45.840 Of course. 504 00:16:45.840 --> 00:16:46.840 So, income. 505 00:16:46.840 --> 00:16:47.840 But we are currently doing it that way. 506 00:16:47.840 --> 00:16:48.840 Yeah, you're right. 507 00:16:48.840 --> 00:16:49.840 Yeah, you're right. 508 00:16:49.840 --> 00:16:50.840 So, what we're going to do is income. 509 00:16:50.840 --> 00:16:52.360 But we're going to do through budget authority any timing. 510 00:16:52.360 --> 00:16:53.360 That's the big four. 511 00:16:53.360 --> 00:16:54.360 Right? 512 00:16:54.360 --> 00:16:55.360 So, do you have the money? 513 00:16:55.360 --> 00:16:58.400 Is there somebody else who needs to be on the phone, your grandmother, your dog, your 514 00:16:58.400 --> 00:17:00.480 agent, whatever need? 515 00:17:00.480 --> 00:17:03.120 So, how important is this to you? 516 00:17:03.120 --> 00:17:04.120 And then timing. 517 00:17:04.120 --> 00:17:07.480 If we were to get you set up, how quickly would you want us to make this, get this trademark 518 00:17:07.480 --> 00:17:08.480 or get this thing? 519 00:17:08.480 --> 00:17:09.480 Right? 520 00:17:09.480 --> 00:17:11.800 You want to take the people who have the money and want to do it now and are able to make 521 00:17:11.800 --> 00:17:12.800 this decision. 522 00:17:12.800 --> 00:17:13.800 That's the qualification. 523 00:17:13.800 --> 00:17:17.640 Now, the big question is, what are we going to charge? 524 00:17:17.640 --> 00:17:18.640 So, you're asking me? 525 00:17:18.640 --> 00:17:19.640 Yeah. 526 00:17:19.640 --> 00:17:20.640 I'm going to give you a hint. 527 00:17:20.640 --> 00:17:21.640 It's more than $250. 528 00:17:21.640 --> 00:17:23.160 Hopefully the price is right with what you're going to charge. 529 00:17:23.160 --> 00:17:30.480 So the average ticket on the service size between the ongoing one time and the consultation 530 00:17:30.480 --> 00:17:31.800 is about 1,500. 531 00:17:31.800 --> 00:17:32.800 That's right. 532 00:17:32.800 --> 00:17:33.800 That's the average. 533 00:17:33.800 --> 00:17:34.800 That's the average. 534 00:17:34.800 --> 00:17:35.800 Okay. 535 00:17:35.800 --> 00:17:39.520 And a lot of that is from people just getting hourly charged. 536 00:17:39.520 --> 00:17:44.240 It's, no, it's basically the ongoing right now is about the lower ticket. 537 00:17:44.240 --> 00:17:46.160 It's about 1,000 per month. 538 00:17:46.160 --> 00:17:47.160 Okay. 539 00:17:47.160 --> 00:17:52.120 Because we're not charging them by the hour like a traditional lawyer. 540 00:17:52.120 --> 00:17:54.960 So, and this is $750 usually. 541 00:17:54.960 --> 00:18:00.240 So you can see that if you combine the other, they usually get to. 542 00:18:00.240 --> 00:18:01.720 So this is what I want you to do. 543 00:18:01.720 --> 00:18:03.640 I would love you to charge $5,000. 544 00:18:03.640 --> 00:18:06.280 I feel like that's going to be a stretch for you emotionally. 545 00:18:06.280 --> 00:18:07.760 So how about we start at 3? 546 00:18:07.760 --> 00:18:08.760 Yeah. 547 00:18:08.760 --> 00:18:09.760 Can you do 5? 548 00:18:09.760 --> 00:18:10.760 We can do 5. 549 00:18:10.760 --> 00:18:11.760 Can you emotionally do 5? 550 00:18:11.760 --> 00:18:12.760 Yeah. 551 00:18:12.760 --> 00:18:13.760 We're selling right now. 552 00:18:13.760 --> 00:18:14.760 So. 553 00:18:14.760 --> 00:18:15.760 Three months for 4,000. 554 00:18:15.760 --> 00:18:16.760 So. 555 00:18:16.760 --> 00:18:17.760 Great. 556 00:18:17.760 --> 00:18:18.760 So, well then shoot. 557 00:18:18.760 --> 00:18:19.760 Then we might as well do 6. 558 00:18:19.760 --> 00:18:20.760 6 is 75. 559 00:18:20.760 --> 00:18:21.760 You know what? 560 00:18:21.760 --> 00:18:22.760 I'll meet you in the middle. 561 00:18:22.760 --> 00:18:23.760 5,800. 562 00:18:23.760 --> 00:18:24.760 Okay. 563 00:18:24.760 --> 00:18:25.760 All right. 564 00:18:25.760 --> 00:18:26.760 This is what we're going to sell. 565 00:18:26.760 --> 00:18:27.760 That's your retainer. 566 00:18:27.760 --> 00:18:28.760 Right? 567 00:18:28.760 --> 00:18:29.760 So either we can sell. 568 00:18:29.760 --> 00:18:30.760 Okay. 569 00:18:30.760 --> 00:18:35.120 We prefer to sell the outcome if it's just a clear outcome that they're going for. 570 00:18:35.120 --> 00:18:36.120 Or you can sell retainer. 571 00:18:36.120 --> 00:18:37.120 Right? 572 00:18:37.120 --> 00:18:38.120 And just say like, it's 5,800. 573 00:18:38.120 --> 00:18:39.120 I'll draw from that. 574 00:18:39.120 --> 00:18:40.120 Whatever. 575 00:18:40.120 --> 00:18:43.320 I prefer outcome personally because I don't want you to be tied to hourly if you can 576 00:18:43.320 --> 00:18:44.320 afford not to. 577 00:18:44.320 --> 00:18:45.320 You get what that? 578 00:18:45.320 --> 00:18:46.320 Yeah. 579 00:18:46.320 --> 00:18:49.840 We can move towards the outcome if it's the type of deal that we want to work with like 580 00:18:49.840 --> 00:18:50.840 for example. 581 00:18:50.840 --> 00:18:54.080 When I say outcome, I mean like the contract or the that kind of thing. 582 00:18:54.080 --> 00:18:59.160 Like when it's the commission based stuff, I want the 5,800 plus the percent. 583 00:18:59.160 --> 00:19:00.560 That's how we're doing it right now. 584 00:19:00.800 --> 00:19:01.560 Good. 585 00:19:01.560 --> 00:19:02.560 We just need to raise prices. 586 00:19:02.560 --> 00:19:03.560 Okay. 587 00:19:03.560 --> 00:19:05.560 And we also need to organize the business so that we're optimizing for this outcome. 588 00:19:05.560 --> 00:19:07.560 Not three different outcomes and confusing everybody. 589 00:19:07.560 --> 00:19:08.560 All right. 590 00:19:08.560 --> 00:19:09.560 Okay. 591 00:19:09.560 --> 00:19:12.400 Now if on the sales call, someone is unqualified. 592 00:19:12.400 --> 00:19:15.400 So this depends on your deal flow, but I'm assuming that you've got time to take calls. 593 00:19:15.400 --> 00:19:16.400 Yeah. 594 00:19:16.400 --> 00:19:19.920 Because my time is spread around trying to understand this. 595 00:19:19.920 --> 00:19:20.920 We don't even. 596 00:19:20.920 --> 00:19:21.920 All right. 597 00:19:21.920 --> 00:19:22.920 We're going to this. 598 00:19:22.920 --> 00:19:23.920 This will work. 599 00:19:23.920 --> 00:19:26.240 When you have these people that are coming to call, what I want to add is before we 600 00:19:26.240 --> 00:19:27.240 have to sell the outcome. 601 00:19:27.240 --> 00:19:32.040 This is kind of like on the call right here, a forehand, we're going to add a VSL. 602 00:19:32.040 --> 00:19:33.040 Okay. 603 00:19:33.040 --> 00:19:34.040 So you're familiar with the VSL? 604 00:19:34.040 --> 00:19:35.040 Yeah. 605 00:19:35.040 --> 00:19:36.040 The VSL's letter. 606 00:19:36.040 --> 00:19:37.040 Do you have one right now? 607 00:19:37.040 --> 00:19:38.040 For the course. 608 00:19:38.040 --> 00:19:39.040 Yes. 609 00:19:39.040 --> 00:19:40.040 Okay. 610 00:19:40.040 --> 00:19:41.040 So instead, I just need you to make one. 611 00:19:41.040 --> 00:19:42.040 Seven minutes. 612 00:19:42.040 --> 00:19:43.640 You know, five to seven minutes does need to be long. 613 00:19:43.640 --> 00:19:46.040 Just explaining how you do things in your process. 614 00:19:46.040 --> 00:19:47.040 Okay. 615 00:19:47.040 --> 00:19:50.880 And the other people that you've worked with, some of the six outcomes, reviews, things 616 00:19:50.880 --> 00:19:51.880 like that. 617 00:19:51.880 --> 00:19:55.320 And then also it's set expectations, which is like on this call, we're going to have one 618 00:19:55.320 --> 00:19:56.320 of two outcomes. 619 00:19:56.560 --> 00:19:59.880 Either you want more personalized attention and we'll, you know, give you the 620 00:19:59.880 --> 00:20:01.080 outcome that you want. 621 00:20:01.080 --> 00:20:06.120 Or if you're like just starting out, we do have an education thing that if you can't 622 00:20:06.120 --> 00:20:08.120 afford our actual services, you can do it on your own. 623 00:20:08.120 --> 00:20:09.120 I've done so. 624 00:20:09.120 --> 00:20:10.120 Yeah. 625 00:20:10.120 --> 00:20:11.120 Now the thing is, is that, you know what? 626 00:20:11.120 --> 00:20:12.520 I don't even know if I like that. 627 00:20:12.520 --> 00:20:13.520 I'm deleting. 628 00:20:13.520 --> 00:20:14.520 I'm deleting that. 629 00:20:14.520 --> 00:20:15.520 Okay. 630 00:20:15.520 --> 00:20:17.520 So the VSL is going to sell the services. 631 00:20:17.520 --> 00:20:18.520 That's it. 632 00:20:18.520 --> 00:20:22.600 When you get on the call, if the person lied about their income or lied about their 633 00:20:22.600 --> 00:20:26.200 qualifications, which does happen, then you can immediately triage them and say, 634 00:20:26.200 --> 00:20:31.080 sitriage them and like, you split and say, you know what? 635 00:20:31.080 --> 00:20:35.520 You can tell like this isn't going to be a services sale for $6,000 plus a percentage. 636 00:20:35.520 --> 00:20:40.440 Instead it's going to be, you know, a one-time education product sale, and then you can 637 00:20:40.440 --> 00:20:41.440 sell that. 638 00:20:41.440 --> 00:20:43.440 Now right now you have this 500 and 500. 639 00:20:43.440 --> 00:20:48.360 I'm going to wager that you don't need, like if you're getting people to buy this on 640 00:20:48.360 --> 00:20:53.600 a checkout page, typically you can triple the price with a phone call of the same thing. 641 00:20:53.600 --> 00:20:54.600 Okay. 642 00:20:54.600 --> 00:20:56.960 So you could probably sell for $3,000. 643 00:20:56.960 --> 00:21:00.440 So if we're charging $6,000 here, I would say probably somewhere in the neighborhood of 644 00:21:00.440 --> 00:21:05.120 like $2,000 to $3,000 is the right price point for the education down sale. 645 00:21:05.120 --> 00:21:09.680 But the only purpose of that is just so that you can maximize your time on the call so 646 00:21:09.680 --> 00:21:11.000 that you can still kind of have something. 647 00:21:11.000 --> 00:21:14.400 And if you need to do a payment plan or whatever, you know what I mean, that's at that point 648 00:21:14.400 --> 00:21:15.800 you're just trying to liquidate your time. 649 00:21:15.800 --> 00:21:20.160 But fundamentally, if we were to do this, let's walk through what it actually looks like 650 00:21:20.160 --> 00:21:21.160 now. 651 00:21:21.160 --> 00:21:22.640 You have your YouTube videos. 652 00:21:22.640 --> 00:21:29.400 Now all of the calls to action, the way I see my YouTube is I have, you know, 2,000 video 653 00:21:29.400 --> 00:21:31.200 whatever how many videos I have. 654 00:21:31.200 --> 00:21:35.440 And each of them are basically like little mini ads that are always running. 655 00:21:35.440 --> 00:21:39.400 And underneath of the video or the quality ad, I have my actual call to action. 656 00:21:39.400 --> 00:21:43.440 And I can, I have this surface area across the whole internet that I can change and redirect 657 00:21:43.440 --> 00:21:46.440 all of that traffic from all of my videos to wherever I want. 658 00:21:46.440 --> 00:21:51.840 And you can go back and on your biggest videos go get pinned comments that, you know, that 659 00:21:51.840 --> 00:21:55.280 have the same call to action because some people just read the comments, change your profile 660 00:21:55.280 --> 00:22:00.000 and then going forward in your videos, you'll put the CTA towards DMing on Instagram. 661 00:22:00.000 --> 00:22:02.960 We're going to completely ignore the site since that's where all of your sales are 662 00:22:02.960 --> 00:22:03.960 happening on DM. 663 00:22:03.960 --> 00:22:04.960 So let's just push everyone to DM. 664 00:22:04.960 --> 00:22:07.920 Now, how many followers per month are you getting? 665 00:22:07.920 --> 00:22:13.480 I'm getting about 800 new followers guess what we're going to do. 666 00:22:13.480 --> 00:22:19.080 So this is thing one, thing two is that for every new follower you get, I want you to 667 00:22:19.080 --> 00:22:25.840 DM them and say, are you here for free contact or entertainment, whatever, entertainment 668 00:22:25.840 --> 00:22:28.360 or you want help. 669 00:22:28.360 --> 00:22:31.680 And then every person who says they want help is a lead. 670 00:22:31.680 --> 00:22:36.240 So right now, if you think about that, you got 800 new leads a month that you can work 671 00:22:36.240 --> 00:22:37.560 realistically. 672 00:22:37.560 --> 00:22:39.840 You close 5% of those. 673 00:22:39.840 --> 00:22:45.480 I mean, it's 40 more sales a month at 6K, there's 240. 674 00:22:45.480 --> 00:22:49.720 That's just from not including your existing volume, which we're now going to redirect 675 00:22:49.720 --> 00:22:52.280 everything to the most efficient monetization model. 676 00:22:52.280 --> 00:22:54.080 What stops you from doing this? 677 00:22:54.080 --> 00:22:55.560 Nothing. 678 00:22:55.560 --> 00:23:00.240 I think this will make you a lot and I think this will save your business. 679 00:23:00.240 --> 00:23:02.000 And I think this will also make you very rich. 680 00:23:02.000 --> 00:23:03.560 So we're going to help more people. 681 00:23:03.560 --> 00:23:06.800 Yeah, because you can't help people if you're broke. 682 00:23:06.800 --> 00:23:12.160 And the thing is that the education, I think long term, long, long term, you might end up 683 00:23:12.160 --> 00:23:16.360 just giving it away for free because people are coming from that group as well. 684 00:23:16.360 --> 00:23:17.360 I'm assuming. 685 00:23:17.360 --> 00:23:18.360 And then they buy your services. 686 00:23:18.360 --> 00:23:21.160 And that's why I'm not trying to attack this because this is long term lead nurture for 687 00:23:21.160 --> 00:23:22.160 you. 688 00:23:22.160 --> 00:23:23.160 So where is this hosted? 689 00:23:23.160 --> 00:23:24.160 Yeah. 690 00:23:24.160 --> 00:23:25.160 Kajabi. 691 00:23:25.160 --> 00:23:26.160 Good job. 692 00:23:26.160 --> 00:23:27.160 Well, there's your first mistake. 693 00:23:27.160 --> 00:23:29.160 I knew it. 694 00:23:29.160 --> 00:23:33.920 No, but if you if you were to do it on school, there's a couple benefits. 695 00:23:34.080 --> 00:23:39.360 The biggest one is that we have more active users than any of the group platform and community 696 00:23:39.360 --> 00:23:40.360 platform. 697 00:23:40.360 --> 00:23:45.400 So like you'll probably just get people coming into your community anyways. 698 00:23:45.400 --> 00:23:50.520 But you can also every single person who gets into the group, you can offer a free on 699 00:23:50.520 --> 00:23:54.320 morning call as a part as a benefit of being in the community. 700 00:23:54.320 --> 00:23:58.600 And then you can use those as setting calls to either triage them to services or just 701 00:23:58.600 --> 00:24:00.120 refer them to free stuff. 702 00:24:00.120 --> 00:24:01.120 Right. 703 00:24:01.120 --> 00:24:05.480 Coming from YouTube, it would go from the school and then think about it like this. 704 00:24:05.480 --> 00:24:07.560 This is actually really good visual. 705 00:24:07.560 --> 00:24:13.520 So your old way, let's do this in red is Michael of stars, not too Michael. 706 00:24:13.520 --> 00:24:18.800 So old way is this you had one source of eyeballs, right? 707 00:24:18.800 --> 00:24:22.440 And you were splitting it between three different places. 708 00:24:22.440 --> 00:24:26.920 The new way is you now have three different sources of eyeballs and you're forcing all 709 00:24:26.920 --> 00:24:30.240 of them through the most efficient monetization vehicle. 710 00:24:30.240 --> 00:24:35.240 Because you've got your YouTube, you've got your Instagram, and then you've got your group. 711 00:24:35.240 --> 00:24:37.680 And all three of those are pushing to the one thing that we know makes you the most 712 00:24:37.680 --> 00:24:39.720 money that also people want. 713 00:24:39.720 --> 00:24:42.320 And we're pricing it in a way that actually makes you money. 714 00:24:42.320 --> 00:24:49.040 And the question, the question will be, so we would create from the Instagram, from 715 00:24:49.040 --> 00:24:55.720 the DM or the WhatsApp, we would create a calendar link, their goal there, they'll get 716 00:24:55.720 --> 00:24:59.200 the initial consultation for free is going to be clear. 717 00:24:59.200 --> 00:25:00.200 It's not a consultation. 718 00:25:00.200 --> 00:25:01.200 It's not a consultation. 719 00:25:01.200 --> 00:25:02.200 No, it's a sales call. 720 00:25:02.200 --> 00:25:03.200 Yeah, it's a sales call. 721 00:25:03.200 --> 00:25:04.200 Yes. 722 00:25:04.200 --> 00:25:09.640 Then from there, that once they schedule the consultation, the call, they go to a VSL to 723 00:25:09.640 --> 00:25:10.640 prepare them. 724 00:25:10.640 --> 00:25:11.640 Yes. 725 00:25:11.640 --> 00:25:12.640 Yeah, before the call. 726 00:25:12.640 --> 00:25:13.640 Before the call. 727 00:25:13.640 --> 00:25:14.640 Yeah. 728 00:25:14.640 --> 00:25:15.640 Yeah. 729 00:25:15.640 --> 00:25:16.640 To prepare them. 730 00:25:16.640 --> 00:25:17.640 And their expectations and everything. 731 00:25:17.640 --> 00:25:18.640 Mm-hmm. 732 00:25:18.640 --> 00:25:21.280 Then on the sales call, we'll identify whether we can sell them or services. 733 00:25:21.280 --> 00:25:22.280 Yeah. 734 00:25:22.280 --> 00:25:24.960 And we're not downsell them to our course. 735 00:25:24.960 --> 00:25:25.960 Exactly. 736 00:25:25.960 --> 00:25:26.960 Right? 737 00:25:26.960 --> 00:25:29.440 So our core offer is our, there are results, right? 738 00:25:29.440 --> 00:25:30.440 The outcome. 739 00:25:30.440 --> 00:25:31.440 That's our core offer. 740 00:25:31.440 --> 00:25:32.440 Yeah. 741 00:25:32.440 --> 00:25:37.320 And that outcome, it's based on your specific need and our ability to fulfill that. 742 00:25:37.320 --> 00:25:41.960 But we're not saying, when people are coming to us because we're lawyers in this specific 743 00:25:41.960 --> 00:25:46.080 niche, we don't have to talk about specific outcomes. 744 00:25:46.080 --> 00:25:48.560 No, not like you're getting signed with the record label. 745 00:25:48.560 --> 00:25:49.560 No, no, no. 746 00:25:49.560 --> 00:25:50.960 We're going to do the work to prepare you for that. 747 00:25:50.960 --> 00:25:52.360 We're still going to have to do that on your own. 748 00:25:52.360 --> 00:25:54.840 And then when that deal comes, we ask for five percent. 749 00:25:54.840 --> 00:25:58.680 And the reason we do that is because it makes it affordable for you at 5,800. 750 00:25:58.680 --> 00:26:01.480 If we didn't charge the percentage, and if you're like, oh, I don't want to pay that 751 00:26:01.480 --> 00:26:04.080 percentage, then you could pay us 25,000. 752 00:26:04.080 --> 00:26:07.680 So we'll do 25,000 without the percentage, or we'll do 5,800 with the percentage. 753 00:26:07.680 --> 00:26:08.680 Got it. 754 00:26:08.680 --> 00:26:09.680 Got it. 755 00:26:09.680 --> 00:26:10.680 And then. 756 00:26:10.680 --> 00:26:12.440 You think that also gives you a very nice price anchor. 757 00:26:12.440 --> 00:26:18.880 Yeah, it makes sense because the percentage right now, the last two deals, the average 758 00:26:18.880 --> 00:26:21.440 has been like 40 something K. 759 00:26:21.440 --> 00:26:25.600 And the lead magnet would be the sales goal. 760 00:26:25.600 --> 00:26:30.520 Yeah, I want to just do this as the easy, like was the easiest thing that I can do to 761 00:26:30.520 --> 00:26:33.720 immediately fix this business and make it profitable. 762 00:26:33.720 --> 00:26:37.480 If we wanted to add something else we could, but I just don't want to right now. 763 00:26:37.480 --> 00:26:38.480 Okay. 764 00:26:38.480 --> 00:26:42.240 We're going from spraying the traffic all over place into places that lose money to 765 00:26:42.240 --> 00:26:45.680 pointing three different places to the one place that makes money and doing more of what 766 00:26:45.680 --> 00:26:47.120 already works. 767 00:26:47.120 --> 00:26:51.440 And we're just going to add a little bit of qualification at a little VSL, fix the pricing, 768 00:26:51.440 --> 00:26:53.960 and then we're also going to route all the new followers that come there too. 769 00:26:53.960 --> 00:26:58.400 So you're going to have it, you will likely have a lot of opportunities. 770 00:26:58.400 --> 00:27:05.000 So you'll likely be taking, you know, 8, 10, 12 sales calls a day. 771 00:27:05.000 --> 00:27:06.000 Okay. 772 00:27:06.000 --> 00:27:07.000 Which is a good thing. 773 00:27:07.000 --> 00:27:08.000 So it's great. 774 00:27:08.000 --> 00:27:12.160 And I have three people that can actually do that with me, so if everyone has their own 775 00:27:12.160 --> 00:27:18.320 calendar link, as you explain in your book, then, okay, I have a book on the best selling 776 00:27:18.320 --> 00:27:21.520 author in Spanish in this niche. 777 00:27:21.520 --> 00:27:23.760 How do you, where do you see that fitting in? 778 00:27:23.760 --> 00:27:27.720 Maybe that's the lead magnet, like giving it out for free like you do, because they usually 779 00:27:27.720 --> 00:27:31.400 become super fans like, of course, yeah. 780 00:27:31.400 --> 00:27:33.440 Or is that just another? 781 00:27:33.440 --> 00:27:36.760 So there's a couple, so there's, I'd say like right off the top of my head there's two 782 00:27:36.760 --> 00:27:40.760 places that we can, like if you wanted to use it now, I would say that you could give 783 00:27:40.760 --> 00:27:42.520 it to people who are unqualified. 784 00:27:42.520 --> 00:27:44.880 If you don't think you could, like if you look at somebody's profile and you don't think 785 00:27:44.880 --> 00:27:48.520 they're, they look like, I mean, you can probably tell somebody's not qualified. 786 00:27:48.520 --> 00:27:52.520 You could say, hey, it doesn't look like you're ready for our level of services, but because 787 00:27:52.520 --> 00:27:55.720 I want to, you know, invest in the relationship long term, here's a copy of my book, I think 788 00:27:55.720 --> 00:28:00.560 that would be a very elegant way to not overly complexify what already will work. 789 00:28:00.560 --> 00:28:06.480 Long term, we could start using it as a way that we would drive traffic in the future. 790 00:28:06.480 --> 00:28:10.440 And then you can have a call team call the people who bought the book and then see if they're, 791 00:28:10.440 --> 00:28:11.440 you know, they want more help. 792 00:28:11.440 --> 00:28:14.240 And then you could basically bring, it would just, we'd, all we would do is we add 793 00:28:14.240 --> 00:28:15.240 it in a circle. 794 00:28:15.240 --> 00:28:19.760 But right now you have three more than sufficient traffic sources that you were just wildly 795 00:28:19.760 --> 00:28:22.800 under monetizing and we just need to fix that. 796 00:28:22.800 --> 00:28:23.800 Okay. 797 00:28:23.800 --> 00:28:32.200 And the last question would be on the software side because the product roadmap is almost 798 00:28:32.200 --> 00:28:36.880 finished entirely with all of the features that the companies are looking for. 799 00:28:36.880 --> 00:28:42.880 If I'm not investing any energies on that, I want to know, I don't believe that when 800 00:28:42.880 --> 00:28:43.880 I see it. 801 00:28:43.880 --> 00:28:44.880 Okay. 802 00:28:44.880 --> 00:28:48.080 So if I'm not, suppose I'm not spending energy in a world that doesn't exist. 803 00:28:48.080 --> 00:28:49.080 Yeah. 804 00:28:49.080 --> 00:28:55.240 Suppose that in fantasy land is there a way that we can create like a sunset period where 805 00:28:55.240 --> 00:28:59.920 we would say, okay, I'm going to give the team X amount of time to roll out all of the 806 00:28:59.920 --> 00:29:03.200 features that these companies that are saying, I want to use it. 807 00:29:03.200 --> 00:29:08.160 I'm going to pay for it, you know, 15, 25,000 dollars per year for the software. 808 00:29:08.160 --> 00:29:11.800 Is there a way to create that while we're focusing on this? 809 00:29:11.800 --> 00:29:15.520 So the very beginning, you know, I said, like, what do you, what do you want, right? 810 00:29:15.520 --> 00:29:19.600 And so we had to fix making this make money because you're going to run out of money. 811 00:29:19.600 --> 00:29:20.600 Yes. 812 00:29:20.600 --> 00:29:22.640 And so we have to solve that. 813 00:29:22.640 --> 00:29:26.360 The thing that makes me hesitate with the software is the amount of work and the amount 814 00:29:26.360 --> 00:29:31.400 of expertise it takes to make software really work is really high. 815 00:29:31.400 --> 00:29:35.880 And so I would be more inclined to say like, if you have some of these big companies, you 816 00:29:35.880 --> 00:29:39.760 might just give them the software or have them just say like, you're like, hey, instead 817 00:29:39.760 --> 00:29:42.800 of 25,000 a year, if you just pay me 100 grand or pay me 200 grand, I'll just give you 818 00:29:42.800 --> 00:29:44.200 the whole thing. 819 00:29:44.200 --> 00:29:47.320 And that's basically you getting it at cost and saving two years. 820 00:29:47.320 --> 00:29:48.800 And then you can focus on this. 821 00:29:48.800 --> 00:29:49.800 Got it. 822 00:29:49.800 --> 00:29:51.600 That's of course if you want to make money. 823 00:29:51.600 --> 00:29:52.600 Of course. 824 00:29:52.600 --> 00:29:53.600 No, no, no, I understand. 825 00:29:53.600 --> 00:29:55.920 I just want to have like the different scenarios. 826 00:29:55.920 --> 00:29:59.760 Yeah, I mean, the alternative scenarios that you burn the education, you burn the services 827 00:29:59.760 --> 00:30:00.760 to the ground. 828 00:30:00.760 --> 00:30:05.640 You go all in on the software and you need to be able to fund that loss for a while and 829 00:30:05.640 --> 00:30:06.960 then actually build it right. 830 00:30:06.960 --> 00:30:11.960 If that doesn't seem like it's a, that's two more fantasy than reality. 831 00:30:11.960 --> 00:30:14.800 Then you learn a ton of lessons, which is fine. 832 00:30:14.800 --> 00:30:17.840 Everybody just gets better from learning and you build a really good business, which I 833 00:30:17.840 --> 00:30:19.480 think you have all the makings. 834 00:30:19.480 --> 00:30:20.720 You literally have everything in place. 835 00:30:20.720 --> 00:30:21.720 They were just organized around. 836 00:30:21.720 --> 00:30:22.720 That's the good news. 837 00:30:22.720 --> 00:30:23.720 We don't have to build anything. 838 00:30:23.720 --> 00:30:28.400 We just have to take what we already had, redirect it through a better monetization vehicle. 839 00:30:28.400 --> 00:30:29.720 And that's it. 840 00:30:29.720 --> 00:30:32.360 And so like this is the first step. 841 00:30:32.360 --> 00:30:37.240 We add traffic here as the second step and then we'll add the book as the third step later. 842 00:30:37.240 --> 00:30:39.040 But for now, you just need to step one and step two. 843 00:30:39.040 --> 00:30:44.760 We have enough leads to probably fill up your calendar plus one other person, maybe two. 844 00:30:44.760 --> 00:30:48.440 And if you have three people selling full time and you have a $6,000 thing, you could be 845 00:30:48.440 --> 00:30:52.560 at $18,000 a day, $30,000 a day, $50,000 a day. 846 00:30:52.560 --> 00:30:54.960 The next problem that's going to hit you is that you're not going to have the team to 847 00:30:54.960 --> 00:30:57.680 actually deliver on this stuff, which we'll cross later. 848 00:30:57.680 --> 00:30:58.680 But that's what this is going to do. 849 00:30:58.680 --> 00:31:02.640 This is going to break the business, but you'll be making money. 850 00:31:02.640 --> 00:31:05.280 And then we'll take that money that we're making, and then we'll solve the thing that's 851 00:31:05.280 --> 00:31:07.560 broken, which is that we're going to hire more avogados. 852 00:31:07.560 --> 00:31:09.120 So we're getting Spanish for work. 853 00:31:09.120 --> 00:31:10.120 It's done. 854 00:31:10.120 --> 00:31:11.120 It's metiando. 855 00:31:11.120 --> 00:31:12.120 You're doing it right. 856 00:31:12.120 --> 00:31:14.120 So I'm giving you a little Puerto Rican Spanish there. 857 00:31:14.120 --> 00:31:15.120 Puerto Rican, you. 858 00:31:15.120 --> 00:31:16.120 Exactly. 859 00:31:16.120 --> 00:31:20.120 So are constrained right now on your framework, on the scaling workshop. 860 00:31:20.120 --> 00:31:21.120 Is demand? 861 00:31:21.120 --> 00:31:22.120 Is demand. 862 00:31:22.120 --> 00:31:27.320 Because we're not only starting and stopping, but also we're not directing them through 863 00:31:27.320 --> 00:31:28.960 the proper channels. 864 00:31:28.960 --> 00:31:30.680 And you were mispriced. 865 00:31:30.680 --> 00:31:36.200 So I have my little moniker for the six big mistakes that small business owners make. 866 00:31:36.200 --> 00:31:37.200 So let's make those in red. 867 00:31:37.200 --> 00:31:39.960 And I think you're making almost all of them, which is great. 868 00:31:39.960 --> 00:31:42.160 The good thing is it's only up from here. 869 00:31:42.160 --> 00:31:43.160 Yeah. 870 00:31:43.160 --> 00:31:45.400 So you were selling to too many different avatars. 871 00:31:45.400 --> 00:31:46.960 So that's number one. 872 00:31:46.960 --> 00:31:48.960 Focus, which is that you had more than one business. 873 00:31:48.960 --> 00:31:51.480 So you were hitting that one. 874 00:31:51.480 --> 00:31:54.160 You're hitting this one. 875 00:31:54.160 --> 00:31:58.800 You weren't so overexpansion, which I will not say that you were wrong because we put 876 00:31:58.800 --> 00:31:59.800 it under focus. 877 00:31:59.800 --> 00:32:01.320 I'll give you a neutral on that one. 878 00:32:01.320 --> 00:32:02.840 Put it there to be aware. 879 00:32:02.840 --> 00:32:03.840 Uh-huh. 880 00:32:03.840 --> 00:32:04.840 Then we have compensation. 881 00:32:04.840 --> 00:32:09.240 So it's, are you overpaying your people, which right now I don't get that impression under 882 00:32:09.240 --> 00:32:11.640 priced, which you were, or mispriced. 883 00:32:11.640 --> 00:32:12.800 So you had that one. 884 00:32:12.800 --> 00:32:14.880 And then this one is single product. 885 00:32:14.880 --> 00:32:18.400 So that's when somebody has a front end in a back end, which I'll say that you had kind 886 00:32:18.400 --> 00:32:19.920 of like a half issue. 887 00:32:19.920 --> 00:32:25.760 We had the $250 per hour service fee, but we didn't have that kind of percentage win 888 00:32:25.760 --> 00:32:26.760 rate yet. 889 00:32:26.760 --> 00:32:27.760 And it wasn't part of a standard offer. 890 00:32:27.760 --> 00:32:30.560 So I'll say that you had like a half, a little X, a little mini X. 891 00:32:30.560 --> 00:32:31.560 Okay. 892 00:32:31.560 --> 00:32:32.560 There. 893 00:32:32.560 --> 00:32:35.760 But the good news is that these are the mistakes that most small business owners make. 894 00:32:35.760 --> 00:32:36.760 And it's normal. 895 00:32:36.760 --> 00:32:37.760 And it's okay. 896 00:32:37.760 --> 00:32:38.760 And that's what we're fixing. 897 00:32:38.760 --> 00:32:44.480 And the next phase to have a timeline or at least to be aware of our next phase would 898 00:32:44.480 --> 00:32:48.840 be do this until we get to a million per month. 899 00:32:48.840 --> 00:32:52.040 Is that your, I don't know if you get to a million a month from this. 900 00:32:52.040 --> 00:32:54.440 You will certainly make a lot more than you are now. 901 00:32:54.440 --> 00:32:57.800 And the next thing that's going to break is you're going to run out of work. 902 00:32:57.800 --> 00:33:00.560 So the next is you're going to run into a supply constraint. 903 00:33:00.560 --> 00:33:04.240 I actually think you have probably more demand like you will not be able to sell through 904 00:33:04.240 --> 00:33:07.720 the demand that you already have without expanding supply. 905 00:33:07.720 --> 00:33:11.920 But if we completely utilize your existing supply of, you know, work that you could do 906 00:33:11.920 --> 00:33:15.760 at the appropriate price, you could actually make this into a multi-million dollar per 907 00:33:15.760 --> 00:33:16.760 year business. 908 00:33:16.760 --> 00:33:20.000 Yeah, it's just becoming a law firm, you know, a bigger law firm. 909 00:33:20.000 --> 00:33:21.000 Yeah. 910 00:33:21.000 --> 00:33:22.000 And a specialized law firm, which is good. 911 00:33:22.000 --> 00:33:23.000 So you have that niche down. 912 00:33:23.000 --> 00:33:24.840 You have a very specific niche. 913 00:33:24.840 --> 00:33:28.160 And there's nice thing is that there's a lot of people who want this service. 914 00:33:28.160 --> 00:33:32.240 And the price point that we're charging is an appropriate price for somebody who's, you 915 00:33:32.240 --> 00:33:33.840 know, wanting to make a bet on themselves in their career. 916 00:33:33.840 --> 00:33:35.000 You have to make an investment. 917 00:33:35.000 --> 00:33:37.120 Just like you do, they have to make an investment too. 918 00:33:37.120 --> 00:33:38.120 Yeah. 919 00:33:38.120 --> 00:33:42.800 And the number is that the $5,000 is that for any type of outcome? 920 00:33:42.800 --> 00:33:43.800 No. 921 00:33:43.800 --> 00:33:49.600 So I mean, you'll know this better than I do, but I just want to make sure that, you know, 922 00:33:49.600 --> 00:33:50.600 the average ticket. 923 00:33:50.600 --> 00:33:51.600 Mm-hmm. 924 00:33:51.600 --> 00:33:56.800 I want to make sure that I'm running at at least 80% gross margins for service, minimum. 925 00:33:56.800 --> 00:33:58.920 So you're actual cost. 926 00:33:58.920 --> 00:34:04.200 So your actual cost on this should be, let's see, you should be less than, call it like 927 00:34:04.200 --> 00:34:06.200 $1,200 or let's say, 11. 928 00:34:06.200 --> 00:34:11.000 So if you're less than $1,100 in terms of total cost for the, to deliver that, to deliver 929 00:34:11.000 --> 00:34:13.680 that, then you can, then you charge $5,000. 930 00:34:13.680 --> 00:34:16.800 And so I'm guessing your man hours are going to cost you less, I mean, I don't know what 931 00:34:16.800 --> 00:34:19.920 you pay your, your lawyers, but let's say it's $100 an hour. 932 00:34:19.920 --> 00:34:22.240 If it's less than 11 hours to do it, then you're going to go. 933 00:34:22.240 --> 00:34:23.560 And if they do it in five, amazing. 934 00:34:23.560 --> 00:34:24.560 Okay. 935 00:34:24.560 --> 00:34:30.560 So if I've had the cost, for example, a lawyer caused me X amount per month. 936 00:34:30.560 --> 00:34:35.560 Now I know that I need to be making five times more, five times more, minimum, okay. 937 00:34:35.720 --> 00:34:38.480 That may sound crazy to anybody who's listening to this, who doesn't have a business. 938 00:34:38.480 --> 00:34:40.920 But let me, let me show you a visual. 939 00:34:40.920 --> 00:34:41.920 So good. 940 00:34:41.920 --> 00:34:42.920 So good. 941 00:34:42.920 --> 00:34:43.920 This is great. 942 00:34:43.920 --> 00:34:44.920 People say that. 943 00:34:44.920 --> 00:34:47.360 But let's imagine we have $100 of revenue, all right, to use this simple. 944 00:34:47.360 --> 00:34:52.960 If you have a 20% gross, sorry, a 20% cost, but 80% gross margin business, then it's 945 00:34:52.960 --> 00:34:53.960 like cool. 946 00:34:53.960 --> 00:34:57.840 So we already have $20 gone, so we have $80 left. 947 00:34:57.840 --> 00:35:01.200 But we're still going to have marketing that we got to spend. 948 00:35:01.200 --> 00:35:05.200 We're going to still have admin costs of, you know, people who are scheduling and all 949 00:35:05.200 --> 00:35:06.200 that stuff. 950 00:35:06.200 --> 00:35:08.640 We have sales that we're going to have to pay on top of that. 951 00:35:08.640 --> 00:35:12.440 And that's going to be the majority for this business because the labor is going to be 952 00:35:12.440 --> 00:35:14.720 here, right, in terms of your cost of goods. 953 00:35:14.720 --> 00:35:19.600 And so maybe all of these things cost, you know, 60%, right? 954 00:35:19.600 --> 00:35:22.160 So then we still have a 20% margin in the business. 955 00:35:22.160 --> 00:35:24.360 But that sounds greedy when you're like, oh my God, there's 80. 956 00:35:24.360 --> 00:35:27.520 It's like, yeah, but we got to do all the other costs, all the 80. 957 00:35:27.520 --> 00:35:29.320 And then whatever's left is our profit. 958 00:35:29.320 --> 00:35:32.120 Now hopefully you can run this thing at 30, right? 959 00:35:32.120 --> 00:35:34.760 And then you have a 50% margin here, which should be wonderful. 960 00:35:34.760 --> 00:35:35.760 And then we smile. 961 00:35:35.760 --> 00:35:36.760 Mm-hmm. 962 00:35:36.760 --> 00:35:37.760 Got it. 963 00:35:37.760 --> 00:35:42.880 So all in all, we went from sad face to smiley face, did it? 964 00:35:42.880 --> 00:35:43.880 Great. 965 00:35:43.880 --> 00:35:51.280 I was aware that services was the play when we focused on services this year and we're 966 00:35:51.280 --> 00:35:53.960 already making way more money. 967 00:35:53.960 --> 00:35:54.960 But that was fine. 968 00:35:54.960 --> 00:35:57.360 You're already 4x the business just by focusing on that one thing. 969 00:35:57.360 --> 00:35:59.400 And that's with still having the distraction. 970 00:35:59.400 --> 00:36:02.040 Like you absolutely can be at multiple millions a year. 971 00:36:02.040 --> 00:36:03.040 Like no question. 972 00:36:03.040 --> 00:36:07.200 Given the fact that you have a 90,000 YouTube following, you have a 23,000 person Instagram 973 00:36:07.200 --> 00:36:08.200 following. 974 00:36:08.200 --> 00:36:11.720 You have a community of people who love you and are rating fans. 975 00:36:11.720 --> 00:36:13.320 You have all of the foundations. 976 00:36:13.320 --> 00:36:16.160 So the good news is that all the work that you spent doing over the last how many years 977 00:36:16.160 --> 00:36:17.360 was not wasted. 978 00:36:17.360 --> 00:36:20.200 You just didn't monetize it well and the good news is you can't do it now. 979 00:36:20.200 --> 00:36:21.440 So no big deal. 980 00:36:21.440 --> 00:36:27.120 What's the role of, for example, now that we're getting invitations to go and speak to other 981 00:36:27.120 --> 00:36:28.120 countries? 982 00:36:28.120 --> 00:36:30.640 What do you think about that from the focus side? 983 00:36:30.640 --> 00:36:32.880 Is that something for distribution? 984 00:36:32.880 --> 00:36:36.920 Because if no other lawyers are doing that, no other lawyers are publishing their books. 985 00:36:36.920 --> 00:36:41.720 It has something that we can use to differentiate from other, particularly in service-based 986 00:36:41.720 --> 00:36:42.720 businesses. 987 00:36:42.720 --> 00:36:44.200 That's a good question. 988 00:36:44.200 --> 00:36:46.080 It's a tough call. 989 00:36:46.080 --> 00:36:51.000 And the reason for that is that it's for sure a long-term investment to speak on stages 990 00:36:51.000 --> 00:36:52.000 and things like that. 991 00:36:52.000 --> 00:36:56.520 The thing is that you're currently not demand constrained. 992 00:36:56.520 --> 00:36:57.520 So you speak on stages. 993 00:36:57.520 --> 00:37:00.080 We'll just generate more demand that you can't handle. 994 00:37:00.080 --> 00:37:01.400 Let's play it out the other way. 995 00:37:01.400 --> 00:37:06.480 If you speak on stages and you take your eye off the ball in the business, you lose. 996 00:37:06.480 --> 00:37:10.920 If you focus on the business and you continue to grow the firm, the stages will be there, 997 00:37:10.920 --> 00:37:12.080 because you'll just be bigger. 998 00:37:12.080 --> 00:37:19.280 So that is why maybe the counterargument would be, if you want us to go to the stage, you 999 00:37:19.280 --> 00:37:23.200 have to pay us an amount that has worth it. 1000 00:37:23.200 --> 00:37:27.400 If you know that you generate three sales a day at $6,000 when you're there and it takes 1001 00:37:27.400 --> 00:37:31.880 you two days, then your speaking fee is $36,000 plus travel. 1002 00:37:31.880 --> 00:37:32.880 Exactly. 1003 00:37:32.880 --> 00:37:36.160 You already have the number because you have it on a day-to-day basis. 1004 00:37:36.160 --> 00:37:37.160 Yeah. 1005 00:37:37.160 --> 00:37:40.640 And also to be fair, the opportunity cost isn't just what money would have made, but also 1006 00:37:40.640 --> 00:37:43.640 the focus and the distraction that takes away as well. 1007 00:37:43.640 --> 00:37:44.960 So there's hard costs and soft costs. 1008 00:37:44.960 --> 00:37:47.360 The hard cost is you really just won't make these six sales. 1009 00:37:47.360 --> 00:37:50.840 The soft cost is what else would you have done in between and then not had to deal with 1010 00:37:50.840 --> 00:37:51.840 any of this hassle? 1011 00:37:51.840 --> 00:37:52.840 Perfect. 1012 00:37:52.840 --> 00:37:53.840 Will you do this? 1013 00:37:53.840 --> 00:37:54.840 Yes. 1014 00:37:54.840 --> 00:37:55.840 All right. 1015 00:37:55.840 --> 00:37:56.840 Deal.