WEBVTT 1 00:00:00.000 --> 00:00:10.120 Infinite banking, insurance, 29 agents, and your needing to decide whether you need 2 00:00:10.120 --> 00:00:16.880 to be the face and get customers to feed your agents, or you should go all in on getting 3 00:00:16.880 --> 00:00:20.480 more agents and teaching them how to do lead gen. 4 00:00:20.480 --> 00:00:21.480 Yes. 5 00:00:21.480 --> 00:00:22.480 Cool. 6 00:00:22.480 --> 00:00:23.480 Yeah. 7 00:00:23.480 --> 00:00:28.080 So, do the second one. 8 00:00:28.080 --> 00:00:29.080 Do the second one. 9 00:00:29.800 --> 00:00:31.960 Yeah, it's significantly higher leverage. 10 00:00:31.960 --> 00:00:32.960 Cool. 11 00:00:32.960 --> 00:00:35.200 So, think about this as, what problem do you want to solve? 12 00:00:35.200 --> 00:00:41.040 So, either you say, I want to become a, like, you want to keep growing your brand top of 13 00:00:41.040 --> 00:00:44.360 funnel so that you just have more and more people who are interested in infinite banking, 14 00:00:44.360 --> 00:00:47.880 and then you have all these agents that you pass it off to so that they can basically 15 00:00:47.880 --> 00:00:49.400 transact and own the relationship. 16 00:00:49.400 --> 00:00:51.960 So, that's like option one. 17 00:00:51.960 --> 00:00:55.840 That is, I would say, the lower risk path because you're already doing that today. 18 00:00:55.840 --> 00:00:58.640 And so, how many, is it on Instagram that you do your stuff? 19 00:00:58.720 --> 00:01:00.120 Yeah, all on Meta and YouTube. 20 00:01:00.120 --> 00:01:01.120 Okay. 21 00:01:01.120 --> 00:01:02.120 And we're getting... 22 00:01:02.120 --> 00:01:05.400 What's your followership from that? 23 00:01:05.400 --> 00:01:12.760 15,000 subscribers on YouTube and 12,000 followers on Instagram and 6,000 on Facebook. 24 00:01:12.760 --> 00:01:13.760 Yeah. 25 00:01:13.760 --> 00:01:19.120 And what percentage of the leads come from that stuff versus whatever you're doing person? 26 00:01:19.120 --> 00:01:22.000 15% come from online and... 27 00:01:22.000 --> 00:01:23.000 Okay. 28 00:01:23.000 --> 00:01:24.000 Where's the rest come from? 29 00:01:24.000 --> 00:01:26.480 The rest of it comes from referrals and networking and... 30 00:01:26.480 --> 00:01:27.480 Dude, get agents. 31 00:01:27.480 --> 00:01:28.760 I don't even know what we're talking about. 32 00:01:28.760 --> 00:01:29.760 For sure, get agents. 33 00:01:29.760 --> 00:01:30.760 Go get agents. 34 00:01:30.760 --> 00:01:31.760 Yeah. 35 00:01:31.760 --> 00:01:35.360 I thought it was like 60, 70% of the business was coming from... 36 00:01:35.360 --> 00:01:36.360 No. 37 00:01:36.360 --> 00:01:37.360 ...from your organic. 38 00:01:37.360 --> 00:01:38.360 No, most of it's coming from... 39 00:01:38.360 --> 00:01:39.360 For sure. 40 00:01:39.360 --> 00:01:40.360 ...that. 41 00:01:40.360 --> 00:01:42.920 And then the challenge with the agents, originally it was all of me teaching people 42 00:01:42.920 --> 00:01:43.920 to do that. 43 00:01:43.920 --> 00:01:48.320 How to go out there and get business, go network, go join B&I Chamber of Commerce, whatever. 44 00:01:48.320 --> 00:01:49.320 That's what worked for me. 45 00:01:49.320 --> 00:01:52.680 And then we would get good people that were like, hey, I don't have any network. 46 00:01:52.680 --> 00:01:55.560 So, I said, all right, and they asked where what leads were. 47 00:01:55.560 --> 00:01:56.560 And I said, all right. 48 00:01:56.640 --> 00:02:01.600 Let me go create leads and we started calling business owners, because that's who I was selling 49 00:02:01.600 --> 00:02:02.600 too. 50 00:02:02.600 --> 00:02:05.280 But they were not showing up and they weren't really busy, whatever we were offering 51 00:02:05.280 --> 00:02:06.280 was in whatever. 52 00:02:06.280 --> 00:02:10.400 Then I reread 100 million dollar offers and 100 million other leads and I looked at 53 00:02:10.400 --> 00:02:11.400 the value equation. 54 00:02:11.400 --> 00:02:14.320 I said, the best value I can give is to real estate investors. 55 00:02:14.320 --> 00:02:19.080 So, let me go get real estate investor leads and then we're calling them all day long and 56 00:02:19.080 --> 00:02:22.360 the people that I'm hiring don't know how to communicate with them properly. 57 00:02:22.360 --> 00:02:26.240 So, they only end up just setting up appointments and then they hand them back off to me. 58 00:02:26.240 --> 00:02:31.840 And they're good, but I think it comes down to recruiting people want leads, the first 59 00:02:31.840 --> 00:02:33.160 go to where do you get your leads. 60 00:02:33.160 --> 00:02:37.640 If you say you have to go generate your leads, they might go look at somewhere where they 61 00:02:37.640 --> 00:02:38.640 give them leads. 62 00:02:38.640 --> 00:02:42.560 So, we started giving people leads so we make an offer to recruits. 63 00:02:42.560 --> 00:02:43.560 That's good. 64 00:02:43.560 --> 00:02:48.360 Well, I think that one is, you could probably just take the existing brand that you have 65 00:02:48.360 --> 00:02:52.960 and just be more deliberate about the call to actions that you make, because if you talk 66 00:02:52.960 --> 00:02:56.600 about high level insurance stuff, that's going to track both people who want to learn 67 00:02:56.600 --> 00:03:00.360 more about insurance, but many of those people will be agents. 68 00:03:00.360 --> 00:03:05.240 And so, I think if you basically alternate the CTAs, you'll be able to basically, I don't 69 00:03:05.240 --> 00:03:09.400 want to say chase you, but in some ways, you kind of can double dip here, because as 70 00:03:09.400 --> 00:03:12.000 long as the content strategy fundamentally doesn't really change, you're just changing 71 00:03:12.000 --> 00:03:15.720 really the call to action, then you can kind of get a little bit of the best of both. 72 00:03:15.720 --> 00:03:19.840 But I do think that the big thing that you need to crack is teaching them to generate 73 00:03:19.840 --> 00:03:21.080 their own leads. 74 00:03:21.080 --> 00:03:24.840 Like that is the limit of your business. 75 00:03:24.840 --> 00:03:28.360 So you need to bring them on and you need to have the training system to get, to reliably 76 00:03:28.360 --> 00:03:29.960 get them to self-generate. 77 00:03:29.960 --> 00:03:30.960 Like that's it. 78 00:03:30.960 --> 00:03:31.960 Like that's what you have to do. 79 00:03:31.960 --> 00:03:33.960 If you do that, the sky's the limit. 80 00:03:33.960 --> 00:03:38.400 And the 20 people that we have at a 29 that are just simply coming in and cold calling 81 00:03:38.400 --> 00:03:42.720 real estate investors all day, right now, that are setting up an insane amount. 82 00:03:42.720 --> 00:03:45.840 I think our offer is not great, so I'm going to join with that. 83 00:03:45.840 --> 00:03:50.080 But all those people, now I got to go teach them, I just teach them how to cold call. 84 00:03:50.480 --> 00:03:51.680 Well, they already are cold calling, right? 85 00:03:51.680 --> 00:03:52.680 Huh? 86 00:03:52.680 --> 00:03:53.680 They already are cold calling now. 87 00:03:53.680 --> 00:03:54.680 Okay. 88 00:03:54.680 --> 00:03:55.680 Well, they're coming in, I'm teaching them a cold call. 89 00:03:55.680 --> 00:03:56.680 That's fine. 90 00:03:56.680 --> 00:04:00.360 Rather than coming in and teaching them to go shake hands and kiss babies. 91 00:04:00.360 --> 00:04:02.960 You want to teach them the highest efficiency strategy for getting customers, so whatever 92 00:04:02.960 --> 00:04:03.960 that is. 93 00:04:03.960 --> 00:04:06.680 So you can, it's just like whatever your method is that you think the highest percentage 94 00:04:06.680 --> 00:04:08.720 people will succeed with, that's what you teach. 95 00:04:08.720 --> 00:04:09.720 Yes. 96 00:04:09.720 --> 00:04:10.720 Cool. 97 00:04:10.720 --> 00:04:12.720 So whether it's shake hands and kiss babies or it's cold calling, whatever. 98 00:04:12.720 --> 00:04:13.720 Or a combo of both. 99 00:04:13.720 --> 00:04:14.720 Yeah, or a combo of both. 100 00:04:14.720 --> 00:04:15.720 Yeah, either way is fine. 101 00:04:16.440 --> 00:04:20.120 But fundamentally, look at the biggest insurance companies in the entire world. 102 00:04:20.120 --> 00:04:24.440 They are that big for a reason, and almost all of them, they just, they, they are recruiting 103 00:04:24.440 --> 00:04:25.440 machines. 104 00:04:25.440 --> 00:04:26.440 Right. 105 00:04:26.440 --> 00:04:28.240 Like that's where fundamentally, because they're not a supply constrained business. 106 00:04:28.240 --> 00:04:29.760 Like you can sell as much as insurance as you want. 107 00:04:29.760 --> 00:04:30.760 Right. 108 00:04:30.760 --> 00:04:31.760 Like you're not supply constrained. 109 00:04:31.760 --> 00:04:32.760 Yes. 110 00:04:32.760 --> 00:04:33.760 Right? 111 00:04:33.760 --> 00:04:34.760 Like you're just a man constrained. 112 00:04:34.760 --> 00:04:35.760 Yes. 113 00:04:35.760 --> 00:04:36.960 And so you just got to get guys and then put the system in place so that they learn how 114 00:04:36.960 --> 00:04:37.960 to sell. 115 00:04:37.960 --> 00:04:38.960 And then that's the business. 116 00:04:38.960 --> 00:04:39.960 Alright. 117 00:04:39.960 --> 00:04:40.960 Thank you. 118 00:04:40.960 --> 00:04:41.960 Appreciate you. 119 00:04:41.960 --> 00:04:42.960 Yeah. 120 00:04:43.280 --> 00:04:44.280 My name is Henry. 121 00:04:44.280 --> 00:04:45.520 I sell education. 122 00:04:45.520 --> 00:04:49.200 I teach people how to fix and flip mainly the Hispanic market. 123 00:04:49.200 --> 00:04:51.080 So it's only in Spanish. 124 00:04:51.080 --> 00:04:54.520 We did 1.3 mil last year, second year in business. 125 00:04:54.520 --> 00:04:57.240 And we want to do 3 million this year. 126 00:04:57.240 --> 00:05:03.680 So with a more better new, right, right now, we only do two events a year, big events, 127 00:05:03.680 --> 00:05:04.920 600 people. 128 00:05:04.920 --> 00:05:08.600 And we upsell to a high ticket, 12,000, right? 129 00:05:08.600 --> 00:05:11.480 And we convert 20% of the room more to us. 130 00:05:11.480 --> 00:05:19.160 So that 80% that went to that room never sees me again, I never sell them anything again. 131 00:05:19.160 --> 00:05:23.040 And while that 20%, they bought my high ticket, the mentorship is a year. 132 00:05:23.040 --> 00:05:26.920 And after that, I don't sell them anything ever again. 133 00:05:26.920 --> 00:05:33.440 So more, better, do I just do more of these events and like never ending looking for 134 00:05:33.440 --> 00:05:36.160 new customers for the rest of my life or? 135 00:05:36.160 --> 00:05:37.160 Well, you're in focus. 136 00:05:37.160 --> 00:05:38.160 So you're good. 137 00:05:38.160 --> 00:05:39.160 You're in education. 138 00:05:39.160 --> 00:05:40.160 Yeah. 139 00:05:40.160 --> 00:05:41.160 You're in education. 140 00:05:41.160 --> 00:05:42.160 Graduates, people. 141 00:05:42.160 --> 00:05:43.160 Yeah. 142 00:05:43.160 --> 00:05:44.160 It's how education works. 143 00:05:44.160 --> 00:05:47.840 So if you look at the education system overall, the way to create continuity in education is 144 00:05:47.840 --> 00:05:49.840 just always have something else to learn or teach. 145 00:05:49.840 --> 00:05:53.120 Right, like first year, now you're an undergrad, now you're a graduate student. 146 00:05:53.120 --> 00:05:54.120 Now you have a master's. 147 00:05:54.120 --> 00:05:55.120 Then there's a PhD and you get a second PhD. 148 00:05:55.120 --> 00:05:58.120 Well, you just keep, you know, people will just become endless students. 149 00:05:58.120 --> 00:06:02.960 And so do you want to sell the business eventually or do you just want to make money? 150 00:06:02.960 --> 00:06:03.960 Make money. 151 00:06:03.960 --> 00:06:04.960 I mean, we're not. 152 00:06:04.960 --> 00:06:05.960 No, it's fine. 153 00:06:05.960 --> 00:06:06.960 No, I prefer the truth. 154 00:06:06.960 --> 00:06:10.160 Yeah, I mean, the easiest thing to do is just double the amount of engineering. 155 00:06:10.160 --> 00:06:15.800 Either just do, you can either go one-a-quarter or you can do two at 1,200. 156 00:06:15.800 --> 00:06:19.520 And would you travel or just stay in where I'm at in Miami? 157 00:06:19.520 --> 00:06:20.840 Is that where you run them now? 158 00:06:20.840 --> 00:06:21.840 In Miami? 159 00:06:21.840 --> 00:06:22.840 Yeah, I would use Coast West Coast. 160 00:06:22.840 --> 00:06:23.840 Yeah. 161 00:06:23.840 --> 00:06:24.840 Yeah, maybe Texas or something. 162 00:06:24.840 --> 00:06:25.840 Yeah. 163 00:06:25.840 --> 00:06:26.840 Okay. 164 00:06:26.840 --> 00:06:27.840 I mean, you have a really simple solution. 165 00:06:27.840 --> 00:06:28.840 Yeah. 166 00:06:28.840 --> 00:06:31.640 Like, just run the same playbook more times. 167 00:06:31.640 --> 00:06:35.320 If you were like, I want to build a more valuable business than I would say, take the year 168 00:06:35.320 --> 00:06:38.500 to figure out revenue retention, which is how do I get these people who pay me $12,000 169 00:06:38.500 --> 00:06:44.000 to pay me another $12,000 or pay me $30,000 next year. 170 00:06:44.000 --> 00:06:47.040 Or even down sell them to something that's $5,000 a year, but they stay. 171 00:06:47.040 --> 00:06:48.040 Right. 172 00:06:48.040 --> 00:06:51.600 And focus on retaining that top tier that paid me the high ticket. 173 00:06:51.600 --> 00:06:55.520 Yeah, but I think considering for the model that you have down selling the upsell, I actually 174 00:06:55.520 --> 00:06:57.000 like a lot. 175 00:06:57.000 --> 00:07:02.840 So if they paid you 12, maybe they'll stay for three or three to five, just to have access 176 00:07:02.840 --> 00:07:07.960 to the network and some of your vendors and the stuff that you kind of like provide. 177 00:07:07.960 --> 00:07:11.120 And I think that's something that people would be far more likely to stick with. 178 00:07:11.120 --> 00:07:15.280 And so then you can basically think about your business as from a zooming all the way 179 00:07:15.280 --> 00:07:21.120 out perspective is that the $12,000 is actually like an offset CAC, which is like, you could 180 00:07:21.120 --> 00:07:24.600 break even the $12,000 if you know that someone gets it into a $3,000 membership that's 181 00:07:24.600 --> 00:07:28.040 pretty much all margin that doesn't leave. 182 00:07:28.040 --> 00:07:31.520 So it's like, that allows you to spend way more than your competition because they need 183 00:07:31.520 --> 00:07:32.520 to make money on the 12. 184 00:07:32.520 --> 00:07:33.840 You can break even on the 12. 185 00:07:33.840 --> 00:07:38.200 And then you just have this stack of $3,000 bills that just keeps stacking up. 186 00:07:38.200 --> 00:07:40.040 That's like low effort to maintain. 187 00:07:40.040 --> 00:07:41.040 Got it. 188 00:07:41.040 --> 00:07:42.040 Makes sense? 189 00:07:42.040 --> 00:07:43.040 Yeah. 190 00:07:43.040 --> 00:07:44.040 It's good. 191 00:07:44.040 --> 00:07:45.040 But yeah, there's things that you're honest about just wanting to make more money. 192 00:07:45.040 --> 00:07:46.040 It makes it a lot easier. 193 00:07:46.040 --> 00:07:47.040 Yeah. 194 00:07:47.040 --> 00:07:48.040 Yeah. 195 00:07:48.040 --> 00:07:49.040 Don't say I want to make an impact. 196 00:07:49.040 --> 00:07:50.040 I'm James. 197 00:07:50.040 --> 00:07:53.200 I sell custom branch railings to homeowners. 198 00:07:53.200 --> 00:07:55.240 We did 420 or so last year. 199 00:07:55.240 --> 00:08:00.800 I was, I've read 10Xs greater than 2Xs and so last night it was coming to me again. 200 00:08:00.800 --> 00:08:04.320 Do I really just want to double or do I want to try to 10X? 201 00:08:04.320 --> 00:08:09.360 And so what I want to try to do is to develop a network of products, specifiers, architects, 202 00:08:09.360 --> 00:08:12.280 designers, contractors that can act kind of like a referral network. 203 00:08:12.280 --> 00:08:15.720 I want to shift away from the minors and to focus more on whales. 204 00:08:15.720 --> 00:08:19.660 We had one client last year, about $50,000 worth of handrails. 205 00:08:19.660 --> 00:08:24.320 And if I could get 10 of those in a year, then I would double revenue just with 10 clients. 206 00:08:24.320 --> 00:08:27.800 So kind of what are my best strategies to go about achieving that? 207 00:08:27.800 --> 00:08:31.400 So where did you source the single whale this year? 208 00:08:31.400 --> 00:08:32.400 He found me. 209 00:08:32.400 --> 00:08:33.400 It's all inbound. 210 00:08:33.400 --> 00:08:34.400 It's all through search. 211 00:08:34.400 --> 00:08:35.400 Okay. 212 00:08:35.400 --> 00:08:36.400 So SEO or PBC? 213 00:08:36.400 --> 00:08:37.400 SEO. 214 00:08:37.400 --> 00:08:38.400 Okay. 215 00:08:38.400 --> 00:08:39.480 I just started Facebook ads about three or four weeks ago. 216 00:08:39.480 --> 00:08:44.360 They were going pretty good and qualified about half of the lead so far. 217 00:08:44.360 --> 00:08:50.440 So I would, so if you want to go whale hunting, then I think your initial thought strategy 218 00:08:50.440 --> 00:08:55.680 of finding the architectural firms and engineering firms and whatnot is a good one. 219 00:08:55.680 --> 00:09:00.680 I would probably try the outreach method as my primary way, because you can be hyper-targeted 220 00:09:00.680 --> 00:09:02.920 in terms of who you're reaching out to. 221 00:09:02.920 --> 00:09:08.120 And the key to making it work, though, is like, what's in it for them? 222 00:09:08.120 --> 00:09:10.360 To refer you business. 223 00:09:10.360 --> 00:09:11.360 Are you asking me that? 224 00:09:11.360 --> 00:09:12.880 That's an excellent question. 225 00:09:12.880 --> 00:09:13.880 Okay. 226 00:09:13.880 --> 00:09:17.360 So architects will typically, in a plan, like if they make a set of plans, they'll specify 227 00:09:17.360 --> 00:09:20.400 what kind of tiles to use and what kind of windows to use, et cetera. 228 00:09:20.400 --> 00:09:24.280 So I've, we've gotten plans in the past where it's like, it's got the pictures from the 229 00:09:24.280 --> 00:09:28.120 website with the CAD drawings and everything on the plans. 230 00:09:28.120 --> 00:09:33.800 And so it's like, how to persuade them to do that kind of in absentia. 231 00:09:33.800 --> 00:09:35.600 And I should also note that we should nationwide. 232 00:09:35.600 --> 00:09:37.880 So this is not like, you know, a hyper-loathing. 233 00:09:37.880 --> 00:09:39.680 Are you shipping or are you doing installs or no? 234 00:09:39.680 --> 00:09:40.680 No, we haven't done anything. 235 00:09:40.680 --> 00:09:41.680 You just, actually. 236 00:09:41.680 --> 00:09:43.640 You're just ship product. 237 00:09:43.640 --> 00:09:44.640 Interesting. 238 00:09:44.640 --> 00:09:47.600 Got it. 239 00:09:47.600 --> 00:09:48.600 Then who are the decision makers? 240 00:09:48.600 --> 00:09:50.960 Well, right now it's been primarily residential as when it sounds like. 241 00:09:50.960 --> 00:09:51.960 Right. 242 00:09:51.960 --> 00:09:52.960 It's primarily homeowners. 243 00:09:52.960 --> 00:09:58.720 You know, but it's primarily homeowners who are, you know, looking for something different. 244 00:09:58.720 --> 00:10:01.880 And so it's very, what I call intentional inbound search. 245 00:10:01.880 --> 00:10:03.600 It's like they're looking for something. 246 00:10:03.600 --> 00:10:05.200 They're deliberately searching it out. 247 00:10:05.200 --> 00:10:10.600 They find it, you know, we have a lead magnet kind of, which is like, 250,000, it's SEO. 248 00:10:10.600 --> 00:10:11.600 Yeah. 249 00:10:11.600 --> 00:10:12.600 Yeah. 250 00:10:12.600 --> 00:10:13.600 Yeah. 251 00:10:13.600 --> 00:10:16.960 Well, this is a fundamental change in business strategy. 252 00:10:16.960 --> 00:10:17.960 So you're aware of that. 253 00:10:17.960 --> 00:10:19.600 So with that comes risk. 254 00:10:19.600 --> 00:10:25.960 Because like if the, obviously, the lowest, or the highest risk of just return move or 255 00:10:25.960 --> 00:10:31.760 lowest risk, I guess, is to probably add, like if I were like tomorrow, what would I 256 00:10:31.760 --> 00:10:32.760 do? 257 00:10:32.760 --> 00:10:35.760 I'd probably just add PPC in right now because you already have something that's working 258 00:10:35.760 --> 00:10:36.760 on SEO. 259 00:10:36.760 --> 00:10:40.360 I would probably see how can I get way more articles written so that my SEO traffic can 260 00:10:40.360 --> 00:10:41.360 go up. 261 00:10:41.360 --> 00:10:44.240 Can I tackle more, you know, more keywords? 262 00:10:44.240 --> 00:10:48.360 That's like the for sure will work and make you more money play. 263 00:10:48.360 --> 00:10:54.880 The going after whales for sure can make more money because why not add zeroes to things. 264 00:10:54.880 --> 00:10:59.120 It'll just be a completely different sale and you'll have two levels of sales. 265 00:10:59.120 --> 00:11:02.000 So sale number one is going to be for the affiliates and then figuring out what's going 266 00:11:02.000 --> 00:11:03.480 to make it worth it for them. 267 00:11:03.480 --> 00:11:06.240 And then the second level is what's the, you know, what's the actual sale to the, to 268 00:11:06.240 --> 00:11:07.320 the whale customer. 269 00:11:07.320 --> 00:11:10.800 So who's the decision maker with the whales? 270 00:11:10.800 --> 00:11:11.920 Like the final decision maker. 271 00:11:12.920 --> 00:11:15.760 It's going to be the homeowner, whoever's doing the project. 272 00:11:15.760 --> 00:11:17.840 So you just want bigger homeowners? 273 00:11:17.840 --> 00:11:22.600 The architects have the ability to specify it and to put it in front of the client. 274 00:11:22.600 --> 00:11:28.080 So like we also did another one, which was about 60,000 for a guy that was doing a development 275 00:11:28.080 --> 00:11:30.640 of Airbnb's in Virginia. 276 00:11:30.640 --> 00:11:35.560 He put up like six year kind of things and, you know, so I had two bit very big. 277 00:11:35.560 --> 00:11:37.920 So both of them were architects that sent you these. 278 00:11:37.920 --> 00:11:40.680 The one was an architect and the other was a construction company. 279 00:11:40.680 --> 00:11:41.680 Yeah. 280 00:11:41.680 --> 00:11:45.360 So you're going to have to go B2B outreach is basically when you look at core four, that's 281 00:11:45.360 --> 00:11:50.000 going to be your, what you're going to do and then they're going to be your affiliates. 282 00:11:50.000 --> 00:11:54.200 And so the, the million dollar question is what's in it for them? 283 00:11:54.200 --> 00:12:01.160 So my, my proposition would be, so there's three ways you can do affiliates, at least 284 00:12:01.160 --> 00:12:03.400 it, you know, in the world of Alex. 285 00:12:03.400 --> 00:12:06.720 So you have, they sell you shit for you and they, they get a commission. 286 00:12:06.720 --> 00:12:08.200 That's option one. 287 00:12:08.200 --> 00:12:11.800 That's typically my least favorite option, but it is an option. 288 00:12:11.800 --> 00:12:16.520 Option two is that you give them some morsel of something that you sell that they can 289 00:12:16.520 --> 00:12:18.360 sell for a hundred percent markup. 290 00:12:18.360 --> 00:12:20.760 They could keep all the money, but you get the introduction. 291 00:12:20.760 --> 00:12:22.600 This is my favorite way of doing it. 292 00:12:22.600 --> 00:12:30.680 The third way is that you basically allow them to just bundle in your free thing with 293 00:12:30.680 --> 00:12:32.440 their services now with architecture firms. 294 00:12:32.440 --> 00:12:35.760 They're not like they're going to bundle in a railing for their service, but just for 295 00:12:35.760 --> 00:12:36.760 everybody else. 296 00:12:36.760 --> 00:12:42.080 So it's like, they bundle your, you're basically your lead magnet in for free with their 297 00:12:42.080 --> 00:12:43.080 thing they sell. 298 00:12:43.080 --> 00:12:45.440 So it makes, it enhances the value of their wall package. 299 00:12:45.440 --> 00:12:49.720 You give them the things that they can upsell your lead magnet for an amount of money that 300 00:12:49.720 --> 00:12:53.960 they can keep a hundred percent of, or they just sell your stuff and they get a kickback. 301 00:12:53.960 --> 00:12:59.080 Is there a version for this where they can just upcharge, like you can do a small portion 302 00:12:59.080 --> 00:13:03.040 of this, that they get a hundred percent of, a hundred percent, like I don't think so. 303 00:13:03.040 --> 00:13:08.120 Like maybe some kind of contractors or architect discount. 304 00:13:08.120 --> 00:13:11.880 We want them to be stupid to say no. 305 00:13:11.880 --> 00:13:17.240 Yeah, because like the generic leg, you get 20 percent kickback is just like everyone 306 00:13:17.240 --> 00:13:18.240 does it. 307 00:13:18.240 --> 00:13:21.840 Like who here does 20 percent kickbacks for anybody who refers to business? 308 00:13:21.840 --> 00:13:22.840 You can raise your hand. 309 00:13:22.840 --> 00:13:23.840 I'm not going to be upset. 310 00:13:23.840 --> 00:13:24.840 Okay. 311 00:13:24.840 --> 00:13:27.520 And so the point is, is that, and you probably no one here has referred to anyone else 312 00:13:27.520 --> 00:13:28.520 business. 313 00:13:28.520 --> 00:13:30.320 And it's because no one cares. 314 00:13:30.320 --> 00:13:31.320 That's kind of the point. 315 00:13:31.320 --> 00:13:33.880 So it has to be a near-resistible offer. 316 00:13:33.880 --> 00:13:40.640 And so if we give away the lead magnet or something, think about it as like my hack for a $50,000 317 00:13:40.640 --> 00:13:43.800 customer is the cost of the lead magnet. 318 00:13:43.800 --> 00:13:47.920 And if I close one out of three introductions, then it's 3x the cost of lead magnet is my 319 00:13:47.920 --> 00:13:50.880 cost to a car customer, which is usually pretty darn good. 320 00:13:50.880 --> 00:13:54.240 But it sounds like a near-resistible offer to the architecture firm because they're like, 321 00:13:54.240 --> 00:13:57.120 we can just sell this and keep a hundred percent of it like, yep, just make the introduction 322 00:13:57.120 --> 00:13:58.120 and I'll deliver that. 323 00:13:58.120 --> 00:14:00.440 And then when you talk to the customer, you're like, yeah, I'll deliver that. 324 00:14:00.440 --> 00:14:03.280 There's one rail, but you need ten more. 325 00:14:03.280 --> 00:14:04.280 And then you make the sale. 326 00:14:04.280 --> 00:14:05.520 Does that make sense? 327 00:14:05.520 --> 00:14:07.520 I'm not entirely sure. 328 00:14:07.520 --> 00:14:09.280 Like people would order the entire project. 329 00:14:09.280 --> 00:14:10.280 Okay. 330 00:14:10.280 --> 00:14:13.360 So it's not like, you can just, like I can't just ship you a sample and be like, hey, look, 331 00:14:13.360 --> 00:14:14.360 here's a- 332 00:14:14.360 --> 00:14:16.640 Yeah, then you're going to have to do the commission based structure, which is not my favorite. 333 00:14:16.640 --> 00:14:19.960 But that's probably the way you're going to have to do it. 334 00:14:19.960 --> 00:14:24.040 So either you can do the discount, I mean, I would say, guys, I have 20% that I can play 335 00:14:24.040 --> 00:14:25.040 with here. 336 00:14:25.040 --> 00:14:27.120 So you can take all 20 and give them no discount. 337 00:14:27.120 --> 00:14:30.400 You can take a 10% discount and then they get, you know, you get 10% kickback. 338 00:14:30.640 --> 00:14:32.000 Like this is what I got. 339 00:14:32.000 --> 00:14:35.400 I'll make it work whatever you want, but this is my bear bottom price. 340 00:14:35.400 --> 00:14:36.400 Okay. 341 00:14:36.400 --> 00:14:38.720 And I think that's what, like that's the outbound strategy. 342 00:14:38.720 --> 00:14:43.640 So should I then in turn raise prices for direct to consumer? 343 00:14:43.640 --> 00:14:44.640 Yeah. 344 00:14:44.640 --> 00:14:45.640 I love that. 345 00:14:45.640 --> 00:14:46.640 Okay. 346 00:14:46.640 --> 00:14:47.640 Thank you. 347 00:14:47.640 --> 00:14:48.640 Yeah. 348 00:14:48.640 --> 00:14:49.640 Right. 349 00:14:49.640 --> 00:14:50.640 I love that for you. 350 00:14:50.640 --> 00:14:51.640 Hey, Alex. 351 00:14:51.640 --> 00:14:52.640 Hello. 352 00:14:52.640 --> 00:14:53.640 Thank you for the content you create. 353 00:14:53.640 --> 00:14:54.640 Good. 354 00:14:54.640 --> 00:14:55.640 My name is Monica Fatale. 355 00:14:55.640 --> 00:14:56.640 I'm the founder of Alphen. 356 00:14:56.640 --> 00:14:57.640 What? 357 00:14:57.640 --> 00:14:58.640 I'm the founder of Alphen. 358 00:14:58.640 --> 00:14:59.640 Alphen. 359 00:14:59.640 --> 00:15:02.200 We sell tools to creators to help them make more money. 360 00:15:02.200 --> 00:15:04.720 And we also simplify how brands collaborate with creators. 361 00:15:04.720 --> 00:15:05.720 Okay. 362 00:15:05.720 --> 00:15:06.720 Actually tools like software. 363 00:15:06.720 --> 00:15:09.680 So software and serve agency tools. 364 00:15:09.680 --> 00:15:14.120 So we have a music label, a creator agency for big creators, and then a platform as well. 365 00:15:14.120 --> 00:15:15.120 Right. 366 00:15:15.120 --> 00:15:16.280 So I'm coming to that just in a bit. 367 00:15:16.280 --> 00:15:18.120 I know the focus topic. 368 00:15:18.120 --> 00:15:20.800 We made around 4.3 million last year. 369 00:15:20.800 --> 00:15:23.320 And basically, my goal is trying to get 200 million. 370 00:15:23.320 --> 00:15:24.320 Right. 371 00:15:24.320 --> 00:15:25.320 Now, the issue here is. 372 00:15:25.320 --> 00:15:28.240 With the split between the three in terms of revenue. 373 00:15:28.240 --> 00:15:35.000 1 million for the creator agency, 1.3 million for the music label. 374 00:15:35.000 --> 00:15:38.000 And then the rest is on the brand side. 375 00:15:38.000 --> 00:15:40.800 And the brand side is you introduce basically being an agent to do. 376 00:15:40.800 --> 00:15:41.800 Exactly. 377 00:15:41.800 --> 00:15:42.800 Connecting it both. 378 00:15:42.800 --> 00:15:45.880 But basically what I've been doing is that I realize the disruption of AI that's kind 379 00:15:45.880 --> 00:15:46.880 of coming in. 380 00:15:46.880 --> 00:15:47.880 Okay. 381 00:15:47.880 --> 00:15:49.920 I also saw the scalability of what we were doing because I've been in the YouTube space 382 00:15:49.920 --> 00:15:50.920 for a while. 383 00:15:50.920 --> 00:15:53.080 So a lot of these services aren't going to be scaling as much. 384 00:15:53.080 --> 00:15:57.720 So in the past two years, I've been taking that profit and putting it into a tech platform. 385 00:15:57.720 --> 00:16:02.680 Basically, it's like a creator store where you can sell your services, digital products, 386 00:16:02.680 --> 00:16:04.320 but also items that you love. 387 00:16:04.320 --> 00:16:08.840 So the skin care that you use, the hair cream, the shoes, and you learn a commission. 388 00:16:08.840 --> 00:16:12.480 And we use all of that data to make it easier for brands to know what creators to work 389 00:16:12.480 --> 00:16:13.480 with. 390 00:16:13.480 --> 00:16:16.080 Because right now, an influencer marketing, it's like a spray method, right? 391 00:16:16.080 --> 00:16:17.080 I'm going to pay. 392 00:16:17.080 --> 00:16:19.200 I have no idea how much conversion they're going to actually get me. 393 00:16:19.200 --> 00:16:21.400 But our integration shows you. 394 00:16:21.400 --> 00:16:25.800 For a thousand clicks, they get you these number of visitors and then they end up buying. 395 00:16:25.800 --> 00:16:30.320 My challenge here right now is that I'm trying to scale that business, but my business model 396 00:16:30.320 --> 00:16:31.920 is we make money when you make money. 397 00:16:31.920 --> 00:16:36.240 So on the brand side, we get a 15% commission or a margin on all the spend. 398 00:16:36.240 --> 00:16:40.640 And on the creator side, we get around 8% from whatever they make with their fans by selling 399 00:16:40.640 --> 00:16:44.600 these digital products and courses or affiliate links. 400 00:16:44.600 --> 00:16:49.600 My issue here is I got 40,000 creators, but only 1,000 are making money, right? 401 00:16:49.600 --> 00:16:53.080 And I've been kind of struggling between going on a SaaS model to be able to scale because 402 00:16:53.080 --> 00:16:57.400 when I do any social marketing, we get a creator that comes on board, but they don't 403 00:16:57.400 --> 00:16:59.200 make money right away. 404 00:16:59.200 --> 00:17:02.840 So it's not like you're, you know, and the longer it takes you to recoup your ad spend, 405 00:17:02.840 --> 00:17:05.920 it's not usually a good metric for scalability. 406 00:17:05.920 --> 00:17:10.720 So I'm kind of pivoting, should I go into a SaaS model where right up, whatever I make 407 00:17:10.720 --> 00:17:14.160 from the creator, I'll just be like, hey, like just pay me that price and I take 0% from 408 00:17:14.160 --> 00:17:15.160 you. 409 00:17:15.160 --> 00:17:19.200 And then I just charge the brands, the commission to collaborate with those creators. 410 00:17:19.200 --> 00:17:22.080 This way I can scale the business in a much faster way. 411 00:17:22.080 --> 00:17:24.040 Say the last part again. 412 00:17:24.040 --> 00:17:28.120 So instead of me making percentages from creators, I provide them the same tools that a lot 413 00:17:28.120 --> 00:17:33.280 of them make make money and I keep 0%, but then let's say they have to pay like 20 bucks 414 00:17:33.280 --> 00:17:34.280 a month. 415 00:17:34.280 --> 00:17:35.280 Sure. 416 00:17:35.280 --> 00:17:37.840 But then I still make my money on the upside on the brand side by connecting them with these 417 00:17:37.840 --> 00:17:38.840 creators. 418 00:17:38.840 --> 00:17:39.840 Okay. 419 00:17:39.840 --> 00:17:40.840 So switch to a subscription. 420 00:17:40.840 --> 00:17:42.160 Switch to a subscription, yeah. 421 00:17:42.160 --> 00:17:43.160 Okay. 422 00:17:43.160 --> 00:17:47.720 Because right now, I've got 40,000 creators who signed up, but I'm really making money 423 00:17:47.720 --> 00:17:48.720 off a thousand. 424 00:17:48.720 --> 00:17:51.960 And it's free to sign up and you only get paid if they get paid. 425 00:17:51.960 --> 00:17:52.960 Yeah. 426 00:17:52.960 --> 00:17:56.280 So you're an approach to your audience. 427 00:17:56.280 --> 00:18:02.320 So if you look at like Shopify, for example, it's super, it's, if you look at the amount 428 00:18:02.320 --> 00:18:06.040 of people who've tried to build marketplaces, almost all of them fail. 429 00:18:06.040 --> 00:18:12.160 And it's my opinion that the best marketplaces do run a SaaS and then once they get to scale, 430 00:18:12.160 --> 00:18:16.440 they can, they can kind of push more marketplace to like Shopify, for example. 431 00:18:16.440 --> 00:18:19.680 Like it's 29 bucks a month or whatever it is because they know that the vast majority, 432 00:18:19.680 --> 00:18:25.880 like they make more money charging $29 a month and getting 4% on zero for the vast majority 433 00:18:25.880 --> 00:18:30.880 of stores, but people continue to pay for the hope that someday they will make money. 434 00:18:30.880 --> 00:18:35.760 And so I think the idea of switching to SaaS is not a bad one. 435 00:18:35.760 --> 00:18:41.320 I am concerned about the four businesses that you have. 436 00:18:41.320 --> 00:18:47.520 So because in order to win at SaaS, you have to be like all in on software. 437 00:18:47.520 --> 00:18:53.400 And so the alternative to that would be instead of letting creators come on for free, you 438 00:18:53.400 --> 00:18:55.320 would charge them to come on, which you could do. 439 00:18:55.320 --> 00:18:59.880 It has like a one time setup fee and then maybe increase the likelihood that they win. 440 00:18:59.880 --> 00:19:06.840 Either path would work, but if the ultimate goal is that you want to build a network of 441 00:19:06.840 --> 00:19:10.200 creators, then you want to have the lowest barrier possible on the creator side. 442 00:19:10.760 --> 00:19:14.720 So I'm still thinking of a free tier and a paid tier with some minor benefits. 443 00:19:14.720 --> 00:19:18.240 But then if you really want to make money, you got to end up paying subscriptions. 444 00:19:18.240 --> 00:19:23.520 Yeah, yeah, you'll have to play with the feature set because that's always a, a bitch. 445 00:19:24.800 --> 00:19:27.400 Just the path of least resistance to getting to 100 million. 446 00:19:27.400 --> 00:19:32.840 Yeah, so I think I think adding the subscription for the base and then still maintaining the 447 00:19:32.840 --> 00:19:35.560 revenue that you get from the sponsors makes sense. 448 00:19:35.560 --> 00:19:41.600 I would maybe push back slightly on the hypothesis that they can't convert anything because it 449 00:19:41.600 --> 00:19:44.480 dramatically decreases the value of the network from the sponsor side. 450 00:19:47.120 --> 00:19:47.640 What do you mean by that? 451 00:19:47.640 --> 00:19:49.400 Because some people will pay for impressions. 452 00:19:49.400 --> 00:19:50.080 Yeah. 453 00:19:50.080 --> 00:19:54.200 And so those guys can for sure deliver those. 454 00:19:54.200 --> 00:19:56.040 And so maybe there's like two tiers that you can sell. 455 00:19:56.040 --> 00:19:59.680 You have another product on the ad side or the media side. 456 00:19:59.680 --> 00:20:01.520 It's just something to consider. 457 00:20:01.520 --> 00:20:02.040 Perfect. 458 00:20:02.040 --> 00:20:02.520 Thank you. 459 00:20:02.520 --> 00:20:03.040 That's incredible. 460 00:20:03.040 --> 00:20:04.040 You just validated my thoughts. 461 00:20:04.040 --> 00:20:05.040 Oh good. 462 00:20:05.040 --> 00:20:06.040 I'm good. 463 00:20:06.040 --> 00:20:07.040 I'm thinking the right way. 464 00:20:07.040 --> 00:20:08.040 No, I think it makes sense. 465 00:20:08.040 --> 00:20:10.960 You have to, you have to position this higher ticket and do premium and the wake level 466 00:20:10.960 --> 00:20:14.240 on boarding and then select only further, really good creators and that would be like you 467 00:20:14.240 --> 00:20:19.040 charge five or $10,000 and you really get them set up or you basically flip the other 468 00:20:19.040 --> 00:20:23.640 way, go freemium and then it's all based on like basically media arbitrage where you're 469 00:20:23.640 --> 00:20:27.680 just running tons and tons of ads to get people onto the platform and you just know 470 00:20:27.680 --> 00:20:29.680 what your average revenue per platform is. 471 00:20:29.680 --> 00:20:30.680 Perfect. 472 00:20:30.680 --> 00:20:31.680 Thank you. 473 00:20:32.680 --> 00:20:33.680 Hi Alex. 474 00:20:33.680 --> 00:20:34.680 Hello. 475 00:20:34.680 --> 00:20:39.840 Alex, you can call me Alex Rodriguez and from Puerto Rico, yeah, from Puerto Rico. 476 00:20:39.840 --> 00:20:45.200 So I'm a music attorney, abogado, abogado, correto, and la música y el entretenimiento. 477 00:20:45.200 --> 00:20:48.680 So what we do is we have Mark and Strain is focus. 478 00:20:48.680 --> 00:20:49.680 Okay. 479 00:20:49.680 --> 00:20:50.680 I have. 480 00:20:50.680 --> 00:20:53.400 So, at least you said it, yeah. 481 00:20:53.400 --> 00:20:59.120 So we have three businesses, yeah, so basically it's three businesses, but today thanks 482 00:20:59.120 --> 00:21:05.760 to Ed and Sammy, we got much, much more clear on what we should do. 483 00:21:05.760 --> 00:21:11.600 But I would like to know how would you think about this because the law firm side, it's 484 00:21:11.600 --> 00:21:17.920 growing 20% year over year without me actually doing anything, just redirecting people that 485 00:21:17.920 --> 00:21:23.920 comes to me through my law firm and right now it's about a hundred K and then we have 486 00:21:23.920 --> 00:21:30.360 the educational side and that is making 200 K and then it's been stuck like that in the 487 00:21:30.360 --> 00:21:31.360 last two years. 488 00:21:31.360 --> 00:21:32.360 Sure. 489 00:21:32.360 --> 00:21:33.360 And we're building. 490 00:21:33.360 --> 00:21:34.360 You get customers from organic? 491 00:21:34.360 --> 00:21:35.360 Yeah. 492 00:21:35.360 --> 00:21:36.360 Both are organic. 493 00:21:36.360 --> 00:21:37.360 Okay. 494 00:21:37.360 --> 00:21:40.840 So if you don't have money to pay us as a lawyer, you go to the educational platform. 495 00:21:40.840 --> 00:21:47.840 And we are developing a contract automation software for big companies like major labels 496 00:21:47.840 --> 00:21:50.400 or publishing companies. 497 00:21:50.400 --> 00:21:54.720 So right now the product, our software, our goal with the software is to sell. 498 00:21:54.720 --> 00:21:59.920 We are seeing that other, that big music companies are buying tech. 499 00:21:59.920 --> 00:22:04.880 So specific for them, so they're doing everything manually, we want to sell that, but we have 500 00:22:04.880 --> 00:22:10.880 a cash flow problem because we're selling to people without a lot of money and the service 501 00:22:10.880 --> 00:22:12.960 size does make money. 502 00:22:12.960 --> 00:22:16.720 So our problem is where should we focus? 503 00:22:16.720 --> 00:22:17.720 Yeah. 504 00:22:18.720 --> 00:22:20.800 What's monthly trend right now? 505 00:22:20.800 --> 00:22:22.600 On the software. 506 00:22:22.600 --> 00:22:26.280 We got a hundred people and we only have 40 active right now. 507 00:22:26.280 --> 00:22:27.600 And how long you been doing it? 508 00:22:27.600 --> 00:22:28.600 In the first year. 509 00:22:28.600 --> 00:22:29.600 So you've obtained 40%? 510 00:22:29.600 --> 00:22:30.600 Are they actually active though? 511 00:22:30.600 --> 00:22:31.600 So they're paying. 512 00:22:31.600 --> 00:22:38.280 The people that are active are paying $3,000 per year and they're only like four. 513 00:22:38.280 --> 00:22:39.280 Four? 514 00:22:39.280 --> 00:22:40.680 Four that are paying $3,000. 515 00:22:40.680 --> 00:22:42.280 And then what are the other 36 paying? 516 00:22:42.280 --> 00:22:44.000 I'm paying $600 per year. 517 00:22:44.000 --> 00:22:45.480 Okay, got it. 518 00:22:45.480 --> 00:22:48.560 Okay, so I think we chat about this last night. 519 00:22:48.560 --> 00:22:56.360 So you have a, there is no right answer, but there is a path that you have to pick. 520 00:22:56.360 --> 00:23:00.640 And so either you're going to be enterprise company and you're going to build only for 521 00:23:00.640 --> 00:23:01.640 that. 522 00:23:01.640 --> 00:23:05.880 And I would say like you probably will just transact on the education side in order to 523 00:23:05.880 --> 00:23:06.880 fund this. 524 00:23:06.880 --> 00:23:11.560 I in general don't like this plan, but you could do this because you'll be split attention. 525 00:23:11.560 --> 00:23:14.880 And this is fundamentally why people raise money and software so they can just focus on 526 00:23:14.880 --> 00:23:17.160 one customer the whole time, build the product and then actually get its work. 527 00:23:17.160 --> 00:23:19.960 Okay, that's that. 528 00:23:19.960 --> 00:23:27.000 Because you said that you're retaining 40% in basically a prosumer-ish market, which 529 00:23:27.000 --> 00:23:30.960 is where you're at, I would be inclined to say that you probably are pretty close to 530 00:23:30.960 --> 00:23:33.800 a decent product. 531 00:23:33.800 --> 00:23:35.960 So you probably have nailed something there. 532 00:23:35.960 --> 00:23:42.280 Because keeping 40% of people one year later on, you know, whatever it is for musicians 533 00:23:42.280 --> 00:23:45.800 that you guys have for contracts and whatnot. 534 00:23:45.800 --> 00:23:49.960 You could absolutely go all in on that and get that to like 50 or 60%. 535 00:23:49.960 --> 00:23:52.000 And then you just need to have a different acquisition system. 536 00:23:52.000 --> 00:23:56.240 So you probably just need to go spend money acquiring customers. 537 00:23:56.240 --> 00:23:59.680 And that already cash flows because of the education side. 538 00:23:59.680 --> 00:24:03.320 And are the people who are still paying you on the software also education customers are 539 00:24:03.320 --> 00:24:04.320 now? 540 00:24:04.320 --> 00:24:08.600 They usually come from the education or from my legal services as well. 541 00:24:08.600 --> 00:24:11.680 So I have some clients that be 80% of the job. 542 00:24:11.680 --> 00:24:12.680 That's a million dollar question. 543 00:24:12.680 --> 00:24:16.660 A million dollar question is, if they stop the education, do they keep paying for the 544 00:24:16.660 --> 00:24:17.660 software? 545 00:24:17.660 --> 00:24:18.660 Yes. 546 00:24:18.660 --> 00:24:19.660 Because it's a one-time business. 547 00:24:19.660 --> 00:24:21.660 Well, then that's, what, what do you mean the software's one-time business? 548 00:24:21.660 --> 00:24:22.660 No, the education. 549 00:24:22.660 --> 00:24:23.660 Oh, well then, okay. 550 00:24:23.660 --> 00:24:26.000 They just pay and they're going to use the software. 551 00:24:26.000 --> 00:24:30.200 As long as they, so the only thing that we're solving for is revenue retention on the software. 552 00:24:30.200 --> 00:24:35.000 And so like, enterprise in and of itself is not more valuable than lower market. 553 00:24:35.000 --> 00:24:37.360 It's just that tends to be stickier, which is what makes it more valuable. 554 00:24:37.360 --> 00:24:43.280 But if you can get a larger marketplace, easier to require customer to stick as well as 555 00:24:43.280 --> 00:24:47.680 a large enterprise customer, you've got a gold mine if that's true. 556 00:24:47.680 --> 00:24:51.640 And so if you want to go spend money, acquire customers with the education or media as your 557 00:24:51.640 --> 00:24:56.120 liquidation and then get 100%, like, but the goal that you guys should have is like, we 558 00:24:56.120 --> 00:24:57.920 don't care at all about the education. 559 00:24:57.920 --> 00:25:01.840 All of your focus, all the profit goes into just fixing one number, which is that you 560 00:25:01.840 --> 00:25:04.680 need to look at M12, some month, 12 retention. 561 00:25:04.680 --> 00:25:09.000 And just say like, okay, we're at 40, how do we get to 60, and then how do we get to 70? 562 00:25:09.000 --> 00:25:12.320 And that's all you're solving for, because if you solve that, then the thing will just keep 563 00:25:12.320 --> 00:25:13.320 growing. 564 00:25:13.320 --> 00:25:14.320 And that's the beauty. 565 00:25:14.320 --> 00:25:15.320 I mean, that's fundamentally the beauty of software. 566 00:25:15.320 --> 00:25:17.600 Once you get it right, is that it just keeps growing. 567 00:25:17.600 --> 00:25:18.600 Thank you. 568 00:25:18.600 --> 00:25:19.600 Yeah. 569 00:25:19.600 --> 00:25:20.600 My name is Mike Nathan. 570 00:25:20.600 --> 00:25:28.600 I sell cellular therapy and home to the old affluent, injured, probably, and athletic. 571 00:25:28.600 --> 00:25:32.880 We're new, but we've got a million dollars in revenue, half an EBITDA. 572 00:25:32.880 --> 00:25:36.640 We would like to get the 25 million in home or in home. 573 00:25:36.640 --> 00:25:37.640 Okay. 574 00:25:37.640 --> 00:25:38.640 Got it. 575 00:25:38.640 --> 00:25:39.640 Consider mobile health care. 576 00:25:39.640 --> 00:25:40.640 Okay. 577 00:25:40.640 --> 00:25:42.640 Is it like, guy drives out or is it you sending machines? 578 00:25:42.640 --> 00:25:46.040 Our end drives out gives you an IV infusion in your home. 579 00:25:46.040 --> 00:25:47.040 Okay. 580 00:25:47.040 --> 00:25:48.040 Got it. 581 00:25:48.040 --> 00:25:50.440 Like to get the 25 million, we're built to be bought. 582 00:25:50.440 --> 00:25:51.440 We want to exit. 583 00:25:51.440 --> 00:25:53.600 So we think we're on the cutting edge of this. 584 00:25:53.600 --> 00:25:55.800 What's stopping us is my team is awesome. 585 00:25:55.800 --> 00:25:56.800 Okay. 586 00:25:56.800 --> 00:25:57.800 Great. 587 00:25:57.800 --> 00:25:59.440 And from the NFL, it's a lot of great. 588 00:25:59.440 --> 00:26:06.920 We have great business to doctor at B2B sales experience, zero B2C experience, and 589 00:26:06.920 --> 00:26:09.920 that playbook we're learning is wildly different. 590 00:26:09.920 --> 00:26:11.440 We have no idea what we're doing. 591 00:26:11.440 --> 00:26:12.440 Yeah. 592 00:26:12.440 --> 00:26:16.480 So what stops you from just doing way more of the doctor stuff? 593 00:26:16.480 --> 00:26:19.120 It doesn't, it doesn't quite pay as well. 594 00:26:19.120 --> 00:26:24.520 Meaning we have people that knock on doors to orthopedic surgeons who are looking for patients 595 00:26:24.520 --> 00:26:29.520 with alternatives to surgery, PT, chiropractors. 596 00:26:29.520 --> 00:26:32.760 It's a lot of effort and there's some that are going to refer to you and some that just 597 00:26:32.760 --> 00:26:34.360 will not. 598 00:26:34.360 --> 00:26:37.520 So that's our constraint in a one mark with the Twin Cities. 599 00:26:37.520 --> 00:26:40.640 It's a one market play. 600 00:26:40.640 --> 00:26:44.720 We know there are more people looking for the solution. 601 00:26:44.720 --> 00:26:46.920 So we want to understand what the B2C is. 602 00:26:46.920 --> 00:26:51.600 If we go to then Dallas, Philly, LA as we try to scale it. 603 00:26:51.600 --> 00:26:55.600 Or can Vincent needs to be a ROI that maybe what we're doing right now? 604 00:26:55.600 --> 00:26:58.200 So you're making 50% margins, right? 605 00:26:58.200 --> 00:27:01.520 So what's the cost to acquire a physician? 606 00:27:01.520 --> 00:27:05.440 Cost acquiring a physician who refers to business. 607 00:27:05.440 --> 00:27:06.440 Cost acquiring a Philly. 608 00:27:06.440 --> 00:27:11.600 It's oftentimes just, it can be a physician so we don't track it that way, but it's $500. 609 00:27:11.600 --> 00:27:17.240 Okay, so cost you 500 and then what does the average physician refer to you in a year? 610 00:27:17.240 --> 00:27:18.400 In terms of $6,000. 611 00:27:18.400 --> 00:27:19.400 $6,000. 612 00:27:19.400 --> 00:27:20.400 Okay. 613 00:27:20.400 --> 00:27:23.360 $12,000 to one there, and you already know how that works. 614 00:27:23.360 --> 00:27:26.520 So like what stops you from doing 10 times more of that? 615 00:27:26.520 --> 00:27:30.000 You're saying they don't pay well, but that's part of the not sure how to do that. 616 00:27:30.000 --> 00:27:31.000 Because you're getting 50% more. 617 00:27:31.000 --> 00:27:33.880 We're going through the woods and hit all the people that are going to refer us. 618 00:27:33.880 --> 00:27:37.400 The number is not amazing, or at least I just know there's more there. 619 00:27:37.400 --> 00:27:38.400 I assume there's more. 620 00:27:38.400 --> 00:27:42.480 There's got to be more than the 200 people we've hit in the month. 621 00:27:42.480 --> 00:27:48.040 Like you've only really talked to 200 in terms of like reach outs and 200 signed up as 622 00:27:48.040 --> 00:27:49.040 a Philly, it's kind of thing. 623 00:27:49.040 --> 00:27:52.160 I don't know the number off the top of my head, but it's in the hundreds less than a 624 00:27:52.160 --> 00:27:58.440 thousand of B to B PT, chiropractors, orthopedic surgeons. 625 00:27:58.440 --> 00:27:59.440 We've done that. 626 00:27:59.440 --> 00:28:00.440 In the twins. 627 00:28:00.440 --> 00:28:05.520 And the super small people that have given us has been some give for five to six, some 628 00:28:05.520 --> 00:28:06.520 give zero. 629 00:28:06.520 --> 00:28:10.480 Yeah, do you have an active affiliate manager who's like regularly reminding them? 630 00:28:10.480 --> 00:28:15.040 Yeah, so with, so the way that I think about affiliates is it's basically a second 631 00:28:15.040 --> 00:28:16.600 tier of customer. 632 00:28:16.600 --> 00:28:20.360 And so you need to have somebody who's regularly kind of like stoking the affiliate fire to 633 00:28:20.360 --> 00:28:24.720 keep them activated and continue to get them to continue to refer business. 634 00:28:24.720 --> 00:28:25.720 So I'll give you an example. 635 00:28:25.720 --> 00:28:30.000 So there was a roofing company for it was a restoration company. 636 00:28:30.000 --> 00:28:32.640 They had one star, star salesman. 637 00:28:32.640 --> 00:28:36.720 And all he did was he'd go around to other tradesmen and get them to refer them business. 638 00:28:36.720 --> 00:28:41.800 And so they would get a thousand bucks to refer the restoration business, business. 639 00:28:41.800 --> 00:28:45.880 But the sales guy got 500 for every time they referred. 640 00:28:45.880 --> 00:28:50.520 And so that guy all day long was knocking on doors, walking in the front door with donuts, 641 00:28:50.520 --> 00:28:53.880 asking them how they're doing, bringing coffee to the guys, and then reminding them that 642 00:28:53.880 --> 00:28:54.880 they existed. 643 00:28:54.880 --> 00:28:56.320 And that's all he did. 644 00:28:56.320 --> 00:29:00.280 And so I think you were getting, you're doing the hardest part, which is getting them 645 00:29:00.280 --> 00:29:02.280 to refer. 646 00:29:02.280 --> 00:29:07.120 You just didn't have the consistent referrals because if you had 200 active affiliates 647 00:29:07.120 --> 00:29:12.040 who were consistently referring to business, and most of these physicians, you know, especially 648 00:29:12.040 --> 00:29:16.680 like GPs, things like that, like, I mean, they see thousands of patients. 649 00:29:16.680 --> 00:29:19.720 And many of them could probably benefit from the services you have. 650 00:29:19.720 --> 00:29:24.600 And so the activation is both getting them to refer consistently, but also percentage 651 00:29:24.600 --> 00:29:26.480 of customers that they see that they refer to you. 652 00:29:26.480 --> 00:29:28.000 So it's kind of both sides of it. 653 00:29:28.000 --> 00:29:31.080 And so I think that the missing link with what you were already doing was just that you 654 00:29:31.080 --> 00:29:35.600 didn't have basically the continuous affiliate marketing strategy to get them to keep sending 655 00:29:35.600 --> 00:29:36.920 you business. 656 00:29:36.920 --> 00:29:40.600 So that's probably like right now today, I would fix that first because you already have 657 00:29:40.600 --> 00:29:41.600 the acquisition system. 658 00:29:41.600 --> 00:29:42.600 You already have the network. 659 00:29:42.600 --> 00:29:46.800 And so for me, like, reactivating that affiliate base would be the first thing that I did. 660 00:29:46.800 --> 00:29:49.960 The second thing maybe, because you might just reactivate the base and all of a sudden, 661 00:29:49.960 --> 00:29:53.880 you're like, I got 200 guys who are referring to business, holy shit, we're at 10 million. 662 00:29:53.880 --> 00:29:58.560 But the second thing I would consider probably, I would still probably focus most of my time 663 00:29:58.560 --> 00:30:01.600 on the B2B because you already have it. 664 00:30:01.600 --> 00:30:05.040 But for this business, I think that it lends itself for what's the price point? 665 00:30:05.040 --> 00:30:06.680 $6,000 a treatment. 666 00:30:06.680 --> 00:30:07.680 Per treatment. 667 00:30:07.680 --> 00:30:11.520 So the average doctor will send you $1,000, $6,000 a patient per year. 668 00:30:11.520 --> 00:30:15.760 When he said you'd cost you 500, they'll send you one patient. 669 00:30:15.760 --> 00:30:16.760 Interesting. 670 00:30:16.760 --> 00:30:20.600 So do you have a process for once the patient gets the thing calling the physician up? 671 00:30:20.600 --> 00:30:21.600 Sorry, I say that one. 672 00:30:21.600 --> 00:30:23.120 So like, I'm Dr. Smith. 673 00:30:23.120 --> 00:30:24.640 I send you Sandy. 674 00:30:24.640 --> 00:30:27.960 Sandy goes and gets that, well, you come to Sandy and Sandy gets the treatment. 675 00:30:27.960 --> 00:30:32.800 Is there a cycle where you call back me, Dr. Smith and say, hey, we just dealt with Sandy. 676 00:30:32.800 --> 00:30:35.280 Here's some of her stuff. 677 00:30:35.280 --> 00:30:38.160 Not in a medical term like we're not putting notes back in because it is private. 678 00:30:38.160 --> 00:30:39.160 For sure. 679 00:30:39.160 --> 00:30:40.160 Yeah. 680 00:30:40.160 --> 00:30:41.160 But we do, we ask for more referrals. 681 00:30:41.160 --> 00:30:42.400 There's a circle back that way. 682 00:30:42.400 --> 00:30:46.240 There's not a patient loop back. 683 00:30:46.240 --> 00:30:47.240 Okay. 684 00:30:47.240 --> 00:30:48.240 That's not true. 685 00:30:48.240 --> 00:30:49.240 Sometimes that does happen. 686 00:30:49.240 --> 00:30:50.240 Excuse me. 687 00:30:50.240 --> 00:30:51.240 That's not systematized. 688 00:30:51.240 --> 00:30:52.240 Yeah. 689 00:30:52.240 --> 00:30:55.600 I would systemize the hell out of that because it's like, hey, you just sent me this person. 690 00:30:55.600 --> 00:30:56.920 Like, let me close that loop for you. 691 00:30:56.920 --> 00:30:57.920 She's awesome. 692 00:30:57.920 --> 00:30:58.920 We did this thing. 693 00:30:58.920 --> 00:30:59.920 She loved it. 694 00:30:59.920 --> 00:31:03.920 By the way, and then we have the, you know, the opening to the other, like, what customers 695 00:31:03.920 --> 00:31:08.280 are, what patients did you see this week, who you think it would be a good fit, right? 696 00:31:08.280 --> 00:31:11.360 And rather than saying, do you have any, it's which ones would be? 697 00:31:11.360 --> 00:31:15.400 Is the question, small training stuff, but it matters. 698 00:31:15.400 --> 00:31:18.400 So I feel like there's so much on the B2B side that I don't say that's probably where 699 00:31:18.400 --> 00:31:19.400 I'd be ripping apart. 700 00:31:19.400 --> 00:31:24.000 So you would not go after a B2C approach like advertising online, going, pushing it on 701 00:31:24.000 --> 00:31:25.000 a strategy on that? 702 00:31:25.000 --> 00:31:26.000 It's not that I wouldn't. 703 00:31:26.000 --> 00:31:30.480 It's that when I think about, so this is the difference in like theoretical and actual, 704 00:31:30.480 --> 00:31:35.760 like, I would, given, given the fact that you, like, you're already running good margins 705 00:31:35.760 --> 00:31:41.800 on this thing, basically doing it, and take this the way I mean it, completely unoptimized, 706 00:31:41.800 --> 00:31:42.800 right? 707 00:31:42.800 --> 00:31:43.800 Right now, right? 708 00:31:43.800 --> 00:31:48.520 Again, I'm not, this is not a slight, then I'm like, there's so much juice left in this 709 00:31:48.520 --> 00:31:49.520 thing. 710 00:31:49.520 --> 00:31:50.920 I don't want to now start something new. 711 00:31:50.920 --> 00:31:52.480 It's like, I barely got this one going. 712 00:31:52.480 --> 00:31:54.240 I want to like, crush this. 713 00:31:54.240 --> 00:31:57.480 And when I'm like, no, we've, like, we follow up with every single person. 714 00:31:57.480 --> 00:31:59.480 I've got a full time affiliate manager who steps by. 715 00:31:59.480 --> 00:32:03.960 I'm calling the affiliate, but it drops by the docs once a week, just a reminder, say 716 00:32:03.960 --> 00:32:07.600 nice things, hey, by the way, like, that is happening all the time. 717 00:32:07.600 --> 00:32:10.960 And we've already covered, like, literally every single physician in the Twin Cities. 718 00:32:10.960 --> 00:32:13.600 And I'm like, okay, let's go B2C. 719 00:32:13.600 --> 00:32:16.600 But if we haven't completely squeezed the hell out of this thing, and it's already working 720 00:32:16.600 --> 00:32:21.680 at the level it is right now with like, you're only getting one patient per doc. 721 00:32:21.680 --> 00:32:22.680 It's like so true. 722 00:32:22.680 --> 00:32:25.760 Yes, so you getting B2B customer is the same as getting one B2C customer. 723 00:32:25.760 --> 00:32:28.200 I understand why you'd be frustrated because you'd be like, well, fuck it, I'll just 724 00:32:28.200 --> 00:32:31.760 like, I could sell one customer on my own without having to deal with the doc. 725 00:32:31.760 --> 00:32:36.000 But the whole point is that like, I want them to be sending 20, 50 a month. 726 00:32:36.000 --> 00:32:38.160 And they can because they have the volume. 727 00:32:38.160 --> 00:32:43.280 And I think that first one has to be like a beautifully choreographed experience because 728 00:32:43.280 --> 00:32:46.080 that first patient's the test run for them, for you, right? 729 00:32:46.080 --> 00:32:49.120 They'll refer you one, and they'll see what happens, right? 730 00:32:49.120 --> 00:32:52.120 And so one, it's like, Sandy's got to be blown away, right? 731 00:32:52.120 --> 00:32:54.760 She's got to come back and be like, oh my god, that place was amazing. 732 00:32:54.760 --> 00:32:57.720 And then you also have to go back to the doc and be like, we blew Sandy away by the 733 00:32:57.720 --> 00:32:58.720 way. 734 00:32:58.720 --> 00:33:01.000 And so I think you have to tackle it from both sides. 735 00:33:01.000 --> 00:33:02.000 Okay. 736 00:33:02.000 --> 00:33:03.720 That's what I would do. 737 00:33:03.720 --> 00:33:06.440 Getting into the ad side, you absolutely could do it and you can walk through some, you 738 00:33:06.440 --> 00:33:07.520 know, whole strategy there. 739 00:33:07.520 --> 00:33:11.960 But I, if we swap places, that's where I would be folks. 740 00:33:11.960 --> 00:33:17.560 If you were going to try to expand into other major metros in the next 18 months, would 741 00:33:17.560 --> 00:33:21.760 you have the B2C sorted out before you went to the next market? 742 00:33:21.760 --> 00:33:23.160 Honestly, no. 743 00:33:23.160 --> 00:33:27.040 If I crush my B2B play, then I just run my B2B playbook and the B2B playbook in the 744 00:33:27.040 --> 00:33:28.040 new market. 745 00:33:28.040 --> 00:33:32.040 Like, once I find something that works, I just want to just, yeah, pillage. 746 00:33:32.040 --> 00:33:33.040 Right on. 747 00:33:33.040 --> 00:33:34.040 Thank you. 748 00:33:34.040 --> 00:33:35.040 Yeah, no, you bet. 749 00:33:35.040 --> 00:33:36.040 Thank you.