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What's going on everyone, this is a deep dive into, I want to say a legal business, but

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let's just think of it as a service business that also added on education and also added

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on software.

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You might hear this in no one I'm going to say, but the reality is, so many of you were

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in this boat, you're going to want to hear this.

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And so we break down the business with four key problems and each of the solutions.

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And the nice thing is that if these problems and each of these solutions happen in almost

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every business.

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And so, enjoy.

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So this lawyer was losing $100,000 a year, right?

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So not even, he's making revenue, but losing more than he was making because his business

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model was broken.

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And so what I want to walk through is how we fixed it, how you can apply the learnings

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from his business to your business.

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My name is Oxymozzi.

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I run acquisition.com.

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It's a portfolio of companies that last year did over $250 million a year in aggregate.

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And we help businesses just like the one I'm going to walk you through today, scale.

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Right?

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So let's dive in.

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This attorney came in for our help.

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He was losing $100 a year, right?

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And with only six months of cash left.

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And so he had to do something quickly.

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And he was like, you know, I could, you know, I've done nothing and I would just have had

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zero at the end of the year instead of working all year and being worse off, right?

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And so that's the painful reality of an unfocused business, right?

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Working harder can actually leave you further behind if you're running the wrong direction.

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And this isn't unique, which is why I wanted to make this.

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Most service businesses fail because they chase shiny objects, right?

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So I think like, I have this business, but I also want to sell courses about this business

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or I want to also sell, I'll start an agency about this business or I'm really good at this

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other part of a business and start another business around that.

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I don't want to leave money on the table, right?

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Before actually mastering their core services.

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The second issue is that they underpriced their true value to avoid tough sales conversations.

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They're afraid of people saying no and just want to get more people to say yes.

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Or you have some of the sort of like mission driven entrepreneurs were like, I just want

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to make this affordable for everyone, but you're never going to get anybody to have it

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because if you don't have any cash, you're never going to grow and you're going to help

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more people, right?

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So you have to be okay with the fact that you will make money and you have to make money

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in order to help more people, period.

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And the third is this particular business like many is they let clients accidentally

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determine the buying process instead of designing an intentional flow, right, or a sales

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motion as we like to call it.

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And so less time to the numbers.

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So this business was doing 300,000 top line in the business in terms of revenue.

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They were losing $100,000 in profit.

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Again, these numbers were based on what they told me.

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The three business units they had at the time was services, so legal services, education

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and software.

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And so you can see how this probably spun up, right?

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So this guy's going to do his services and said, hey, some people can afford it.

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So I give them a DIY version, right?

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And you know what?

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The services, if we build some software, then this will help us get an enterprise value

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multiple.

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That'll be higher.

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But the reality is that you're not a software company and you still have the service

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business and the education business that are all going at the same time, only doing 300,000

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dollars a year.

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So let me give you the first rule that I have in terms of scaling a business.

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One, one, one.

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One product, one avatar, one channel, until you get a million bucks a year.

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All right.

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So that means you sell one thing to one person in one way until you get to a million.

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And a million, then usually I'm like, can we just do more of that thing?

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Sometimes we need to add it back into the product and then kind of like the path starts to

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diverge.

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But up to there is very similar.

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So I told you there was three problems.

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The first issue was the help everyone issue, right?

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And again, I don't think there's anything wrong with having this as a noble goal.

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But you're not going to help anybody if you're broke or the business can't scale, right?

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You need resources.

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And so part of this comes from kind of an emotional decision making process, right?

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So the attorney launched courses and software to kind of give back, not because of demand.

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There are some financial consequences from that because the software itself alone was losing

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him money.

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And so he's spending the majority of his time on these two things and guess where you

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think most of his money was coming from here?

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His services, the main thing that people actually want to spend money on.

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Here's the reality of this.

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Is that every hour you were spending on the unprofitable work was an hour not spent on

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scaling the services, which was the main cash cow of the business, right?

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And so this is a classic kind of martyr entrepreneur syndrome, right?

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Like it kills a ton of businesses and they think is they feel justified in this.

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They feel like they're the savior, like they're doing the Lord's work.

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But you're not, you're fooling yourself because you're not willing to confront the harder

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issue, which is that you don't know how to focus and you don't know how to say no.

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And it also means you don't know how to say no to customers because you cannot sell

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everyone.

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Even if you give everything away for free, you'll have people who complain.

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So people complaining is going to be a constant in business.

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You might as well have them complain and be profitable and help the people who are swimming

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towards you.

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So there's a little analogy that I've heard from the Coast Guard guys is that if they're

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people who are drowning and they come in the helicopter, one of their rules is save the

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people swimming towards us.

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So if people aren't swimming towards them, they don't go after them, right?

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And so now whether or not that's true, who knows?

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But I do like the algae, they just let them die.

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You never know.

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I don't know.

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Maybe the storms are.

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They want to show that, maybe it's just to show that people are actually moving.

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They're still alive.

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Who knows?

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But either way, we as business owners should absolutely adopt that mentality.

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And this is actually pretty near and dear to me because when I met Leila, my wife, she

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was a trainer and she actually had this, kind of this, this, this bleeding heart syndrome,

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if you will, right?

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And she was like, I just want to build a company where people really love working and

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I just want to help a lot of people.

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And I said, do you think it's possible that you will be able to help more people if you

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make money?

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And she thought about it for a while and she was like, yeah, I think so.

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And I was like, so you open to doing things differently.

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And so that was actually one of the first conversations we had on our first date that led

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into all the things that we have today.

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And so I've always tended to be more of the quant hat of like, how can you make this

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profitable?

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What's the offer?

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What's the, you know, what's the, the monetization system?

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And Leila's always been so good at the people and the mission, right?

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And so that marriage that, yeah, you can't have just one of the other.

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You have to have both.

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And so if you're in this situation, it's nothing wrong with that.

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You just need to also pair the other side.

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And that's why I'm making this video.

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So the first problem was the help everybody issue.

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And so this is what we did to solve problem number one.

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Now you can have multiple ways, multiple skin and cat, right?

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Multiple ways that you can solve a problem, right?

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And so the first thing is we killed the vampire, right?

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Because right now they had something that was sucking up their cash flow and preventing

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them from scaling, right?

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Now here, this hope, maybe I'll sell the software down the lines of dude, you're not going

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to sell the software.

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It's not good enough.

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You don't have any money.

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The people that you have working for you are unfocused.

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It's not going to work long-term.

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It's going to give you this multiple.

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Like this is the thing.

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People think like, oh, I put some code together.

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I'm going to have a 10x on my top line.

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If you think that you're not going to get it, people who are actually in software are going

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all in and it's still incredibly hard, all right?

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So the first thing is we cut the vampire.

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The second thing is we took the education business and I said, okay, well, what if we could use

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that to just drive more into the services?

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So we repositioned the very cheap education as free education and then that allows people

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to ascend themselves into the services.

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And so this gives you a very powerful front end that gets spread from word of mouth.

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You can also advertise it.

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But ultimately, we just know that that's going to drive more people into this community

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where he was teaching things.

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And then they're like, you know what?

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This sounds like a lot of work.

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I'd love to have you do it.

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And the third thing we did is that, okay, if we've killed the vampire, we repositioned

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the education to drive the services.

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What can we do with the services?

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Well, we want to double down.

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And so what does that actually mean?

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It means we had to reprice the services because their clothes rate was exceptionally high.

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Again, to help everyone issue.

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They just wanted to say, yes, to every single person, but they didn't, they weren't able

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to get nearly as much profit as they probably should have.

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And so in his business, I saw an easy double or triple for the right avatar.

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And so what happens is, let's say you've got, you know, you know, avatar A, avatar B and

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avatar C.

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And let's say the avatar C is, you know, C client, a B client, an A client.

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The thing is that an A client might be able to spend 10 times more than a C client.

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And so what most people do is they take A, B and C, they average them and say, okay,

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we're going to charge two X rather than 10 X.

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And they sacrifice their margin and ultimately how much they're able to scale.

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Because believe it or not, there's still a ton of A's.

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So just serve them first, the best customer you have.

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This is the ICP, the ideal customer profile.

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This is what we're doubling down on in the service.

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Let's find that one customer, that one avatar to sell our one product to on one channel.

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So that's how we solve problem number one.

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So problem number two is they had broken traffic.

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All right.

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So what does this mean?

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It means they had a leaky bucket, right?

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So the next problem was customer acquisition.

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And so when I asked him to walk me through how he was getting customers, he told me that

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he created content on YouTube.

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But when I asked him if that was where most of the leads were coming from, he said, actually

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they go to his Instagram page from YouTube and I was like, okay, so what are your calls

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to action in the video?

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I was like, do you send them from your videos to Instagram?

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He said, no, they actually just randomly find me on Instagram.

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And then they DM us on Instagram and ask us questions, and that's ultimately how he

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gets leads.

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And I was like, okay, slow down.

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So you're getting all your leads from a place that you don't tell them where to go.

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And then when they get to that Instagram, which they find on accident, your profile doesn't

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even solicit them to DM you.

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And he was like, yes.

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So it was like, great, well, let's solve that now.

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And I see this as, and I make this as an extreme example, but I see this as a problem

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that a lot of business owners make, which is that they don't know where the leads are

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coming from.

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And so they continue to optimize for the wrong thing.

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And even if they do know where their leads are coming from, they continue to stick with

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what's comfortable or what they know, instead of adjusting based on their customers how

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they behave, right?

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And so he was probably leaving $20, $30, $50,000 a month on the table just by not optimizing

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his traffic that he already was getting.

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Again, I'm not even saying like, let's go get more.

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Let's just like stop having it leak out of the bottom.

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So we did five things to solve this problem.

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So number one is we added CTAs at the 30% mark in his YouTube videos to go to Instagram

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and DM him.

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That was the first thing.

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Well, people are already doing it.

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Well, let's make it easier, right?

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The second is that we put that CTA in more places.

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So we also put it in the description.

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We also put it in the pinned comment so that every video, even if he changes the description

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over time, which you can't do in YouTube, by the way, people would still be able to

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see it and then ultimately DM him, which you can also just put the link to your Instagram

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so they could just click it.

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It's a trusted link.

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Serum.com.

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They click it and then it opens up on their phone or it opens up with our computer so they

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can find out who you are.

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We also updated his YouTube profile to also have the same CTA.

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So BC and D are all the same concept.

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And then finally, here's the nasty one.

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We started proactively DMing people who were following him because he's doing way better

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on YouTube than he is on Instagram.

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And so most of those new followers, the people who are Instagramming him, are Instagramming

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him.

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Are people coming from his YouTube?

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So we just said, okay, well, if someone follows you, DM them.

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And just say, hey, you hear for free stuff or do you want to help with your legal stuff?

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They say, I want help, then boom, you have a lead.

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Real quick, guys, I have a special, special gift for you for being loyal listeners of

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the podcast.

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Layla and I spent probably an entire quarter putting together our scaling roadmap.

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It's breaking scaling into 10 stages and across all eight functions of the business.

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So you've got marketing, you've got sales, you've got product, you got customer success,

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you've got IT, you've got recruiting, you've got HR, you've got finance, you've got

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finance.

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And we show the problems that emerged at every level of scale and how to graduate to the

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next level.

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It's all free and you can get it personalized to you since about 30-ish pages for each

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of the stages.

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Once you answer the questions, it will tell you exactly where you're at and what you need

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to do to grow.

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It's about 14 hours of stuff, but it's narrowed down so that you only have to watch the

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part that's relevant to you, which will probably be about 90 minutes.

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And so if that's at all interesting, you can go to acquisition.com forward slash roadmap.

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And so the key elements here, so this is obviously super tactical, but if I'm a business

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that I'm thinking this, maybe if I'm you, I'm thinking, okay, what can I take from this?

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So we took someone's existing behavior.

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We weren't like, oh, let's drive them through funnel.

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People were already going to Instagram and DMing him and he already knew how to convert

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from DM.

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So like, let's not break that.

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Let's lubricate it.

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The other piece that we did in terms of why this worked is that we were getting qualified

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leads up front.

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So we started filtering them in the DMers by saying free thing or help.

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And by doing that, it just got so much of the time wasted in the DMs off their plate.

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First, we went from helping everyone to folks doubling down on the services, taking out

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the vampire and using the education as a front and generate leads.

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The second thing we did is we fixed the broken traffic issue.

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We added CTAs, specific to how people were doing it.

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We put in a bunch of places because the more places we put CTAs, the more actions we'll

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get if we call them two action more times.

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And then we got proactive in terms of filtering the leads.

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So the third problem that we encountered was he had an hourly billing trap, right?

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He was billing the wrong way.

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And to be fair, I'm not like against hourly billing in general, but as a core business,

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it's usually not my preferred way of doing things.

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All right.

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And so they were charging $250 an hour and the average client value was $1,500.

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All right.

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So that's six hours on average that they were doing in services per customer.

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Now for high leverage legal services, this in my opinion was leaving a lot on the table

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because people were actually coming to him not for hourly services, they were coming for

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a specific result.

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And so the issue here is that he actually was underpricing the result.

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And so trying to say, hey, we spent, we're $250 an hour, maybe that's a lot, maybe

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it's not a lot.

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No one has a really good idea of what an hourly rate should be unless they just look at

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other people's hourly rates, which makes you a commodity.

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Whereas if you say, hey, you want your XYZ estate plan, you want your business to get

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grown, you want your his instance, like you want your record label, you want your music

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to be able to be sold to a record label, I'll get all of the IP protection in place in

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order for you to do that.

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Well, now I can position the price of my thing in relation to the dream outcome that

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they want, which is to become a music star and ultimately leverage that to become famous

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and save the world with their music.

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All right.

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So underpricing trap is especially common with service providers who price based on time

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based on outcome.

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All right.

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You want to be value based, not kind of feature based in terms of your pricing.

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So if that's the problem, how do we solve it?

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So we ditched the hourly billing and we went with 5,800 up front.

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Now that sounds like holy cow, that's way bigger.

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Now remember, he had plenty of sales conversations that is able to generate and he had a pretty

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good close rate.

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And so if you have a really good close rate or an exceptionally good close rate, then

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I hear that and think, oh, we're underpriced.

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And so on top of this 5,800, he also, we also tagged in a little commission that he gets

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if they close a deal.

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And some of these deals are worth several hundred thousand dollars.

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So it actually adds up sometimes millions of dollars to be a pretty material for him.

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But also I like adding that piece in because when you talk about flat feet plus performance,

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guess what you think the prospect is thinking, oh, this is probably going to happen.

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So actually literally how we present our price will dictate the belief that our prospect

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is going to have based on what they will believe our incentive structure is.

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And so let me show you a different incentive structure to drive this point home.

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If he just said, hey, I'm 100% commission, then people will be like, holy cow, that's

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an amazing offer and a lot of people do that because it is such an amazing offer.

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But how can we dial this back to find the sweet spot because plenty of these musicians

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might not have been good and some of the clients that you might work with might not actually

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be successful.

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So we have to balance our risk here, but still having an element of performance still drives

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that conviction.

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Now what we did that I think is kind of clever and this is my preferred way of doing things

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if I ever have the option is having an A, B offer.

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And so you can A, B anything and it's coming out of my next book I'm talking about this.

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But whenever you have an offer, if you say, would you like chocolate vanilla, do you want

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to start Monday or Tuesday?

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Do you want to have a male or female masseuse?

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You can always A, B your offer.

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All right.

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And so the B offer that we made here was $25,000 with zero commission.

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Now what is this offer?

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This offer is an anchor because now it makes the $5,800 offer seem like a steal.

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So that was the main thing we did to break him out of the hour of billing.

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So I'm going to give you just quick hitters in terms of how you can think through this

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for whatever it is that you're selling.

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So number one is a line in the incentive.

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The lawyer now benefits when the client succeeds.

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So great.

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That makes sense.

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Two big price anchor, $25,000 makes the $5,800 super reasonable.

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Three, it shifts the conversation from cost of time to value of outcome.

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Four, it naturally qualifies prospects.

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Many serious musicians are going to proceed, which is who he wants to sell to you anyways.

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Right.

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And then fifth, it increased perceived value, premium pricing, signals, premium service.

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And so the result of this is that now the customers are going to be worth three to five

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times more, not including the commission.

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So if he did nothing else, sells the same amount of people at this price point, he tribbles

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to quintuples the business.

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Now you might be like, well, he might not sell as many.

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Well, guess what we did earlier.

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We've got him a whole bunch more traffic and we got way more people to opt in.

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And we already triaged to the best clients.

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See how this is all stacking together?

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And you might be like, hey, if you only did that, you'd win.

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And that's true.

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But we did one more thing.

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So the fourth problem that came up is like, okay, well, this is going to be the new process,

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but he didn't have a sales process.

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Now he was good at selling, but he didn't have any kind of process in place to make it a

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sales motion that is repeatable.

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If you don't have a repeatable sales process, you're going to have volatility in the business.

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And so if you're conversions right now or hit or miss and you're not sure what's going

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on, it's usually because you're missing a sales flow.

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All right.

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And so the business is generating interest, but it didn't have a structure way to convert

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it.

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And so everything was happening at Hawks.

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So some leads came through Instagram, others booked random calls through County, and there's

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really no clarity on what was being pitched to whom and when or how.

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Right.

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So it's purely reactive.

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And to be fair, I'm not hating on him.

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Like he's doing a great job and it's small business.

383
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We're starting out.

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That's how it works.

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Right.

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But if you're in this situation, you have a huge amount of opportunity here by just cleaning

387
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the stuff up.

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So the founder was actually treating every call like a legal consultation.

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And so he was actually charging the 250 for the call up front because it was an hour

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of his time, which for me, I'm like, oh my God, we're missing out on so many opportunities

391
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because we haven't positioned this in any kind of valuable way.

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It's just like, hey, pay for an hour of my time.

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And then I'll sell you more hours of my time, not a fan.

394
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Instead, I'd rather qualify prospects up front, have them watch a structured sales presentation

395
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to make sure that they are qualified for the product or service that we're trying to sell,

396
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then sell that thing all up front and then provide the service.

397
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And so what this does is this actually matches to what a high intent lead, how they actually

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want to buy.

399
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They want to know that you're legit.

400
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They want to know that you have a process.

401
00:17:58.360 --> 00:18:03.360
This isn't your first rodeo and you demonstrate that even before you do your services.

402
00:18:03.360 --> 00:18:07.320
How someone is sold will dictate how legit they think you are.

403
00:18:07.320 --> 00:18:09.880
Here's what we implement inside the business to fix the sales motion.

404
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So number one is we put a VSL.

405
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That was five seven minutes.

406
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If you don't know what that is, it's a video sales letter.

407
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All it is is basically explaining who outweigh and why this is what we do.

408
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And then frequently ask questions.

409
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You don't need to overcomplicate this.

410
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A lot of people think there's some big black box of magic that like only the super secret

411
00:18:24.280 --> 00:18:26.600
ninja marketers understand.

412
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You just answer the questions in the language that they present to you on sales calls.

413
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So the normal question someone asks on calls about your products and your services, you

414
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take all those questions, you say it back to them in the video and say a lot of people

415
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ask this question.

416
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This is how we answer it.

417
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A lot of people ask this question.

418
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This is how we answer it.

419
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That's it.

420
00:18:43.280 --> 00:18:44.280
It's all we're doing.

421
00:18:44.280 --> 00:18:46.520
Again, it doesn't need to be super long, but it will help qualify customers.

422
00:18:46.520 --> 00:18:49.280
And you will see a dramatic lift if you only do this.

423
00:18:49.280 --> 00:18:51.120
The second thing we did is we implement bans.

424
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And I do this in basically every single business that I advise, which is if you don't know

425
00:18:55.520 --> 00:18:59.480
a bant is it's budget, authority, need and timing.

426
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So this is actually originally from IBM in like the 60s and it has stuck.

427
00:19:03.920 --> 00:19:05.880
So do they have the money?

428
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Can they make the decision?

429
00:19:07.000 --> 00:19:09.720
Do they need this solution for them right now?

430
00:19:09.720 --> 00:19:11.120
And the right now is the timing piece.

431
00:19:11.120 --> 00:19:12.720
Are they willing to move forward today?

432
00:19:12.720 --> 00:19:16.480
And in terms of asking the question, we could just ask questions like, can you afford

433
00:19:16.480 --> 00:19:21.480
$5,800 in order to get your business, you know, incorporated your IP protected?

434
00:19:21.480 --> 00:19:23.240
Is there anyone else who's involved in this decision?

435
00:19:23.240 --> 00:19:24.840
That's authority.

436
00:19:24.840 --> 00:19:27.520
What happens if you don't solve this need?

437
00:19:27.520 --> 00:19:30.120
When would you like to get this done or when would you like to start and you give them

438
00:19:30.120 --> 00:19:33.120
a drop down like today, tomorrow or you know, a few weeks from now?

439
00:19:33.120 --> 00:19:35.760
You want to sell by the way that people say today or tomorrow.

440
00:19:35.760 --> 00:19:40.560
See, the next thing we did is that we needed to fix this from a consultation to a sales

441
00:19:40.560 --> 00:19:41.560
call.

442
00:19:41.560 --> 00:19:43.000
All right, which means that we actually have to have a script.

443
00:19:43.000 --> 00:19:47.120
We have to clarify whether they're labeled them with a problem over their past experiences,

444
00:19:47.120 --> 00:19:49.480
understand the gap between where they are or where they want to go.

445
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We aggravate the pain, make sure it's very clear what happens if they don't do it.

446
00:19:52.640 --> 00:19:57.080
And I'll give you the simplest structure for this, which is plus plus, minus, minus,

447
00:19:57.080 --> 00:19:59.280
plus minus, minus, plus, all right.

448
00:19:59.280 --> 00:20:02.480
So what you show here is you say, hey, if you work with me, you get more good stuff.

449
00:20:02.480 --> 00:20:04.480
And if you work with me, you get less bad stuff.

450
00:20:04.480 --> 00:20:05.480
Cool.

451
00:20:05.480 --> 00:20:07.800
Now, if you don't work with me, you're going to get more bad stuff.

452
00:20:07.800 --> 00:20:10.080
And if you don't work with me, you're going to get less good stuff.

453
00:20:10.080 --> 00:20:13.400
And so that gives you four angles of persuasion that you can do in the sales consultation

454
00:20:13.400 --> 00:20:15.760
when you get to the S of the closer framework.

455
00:20:15.760 --> 00:20:21.160
So clarify, C, L, label them with a problem, O, over the past experience, S, sell them

456
00:20:21.160 --> 00:20:22.160
the vacation.

457
00:20:22.160 --> 00:20:23.160
Here we go.

458
00:20:23.160 --> 00:20:26.320
You can also use the value equation there, E, explain it with their concerns.

459
00:20:26.320 --> 00:20:29.280
Part of that's going to be covered in the VSL if they come back up, you'll overcome them

460
00:20:29.280 --> 00:20:30.280
the same way.

461
00:20:30.280 --> 00:20:33.280
And then our reinforce the decision, which is once they ultimately buy.

462
00:20:33.280 --> 00:20:34.280
All right.

463
00:20:34.280 --> 00:20:37.080
The next thing we do, which I'm not always a big fan of, but because he had so many

464
00:20:37.080 --> 00:20:41.240
unqualified customers, is having a down sell that was basically hands off, that we took

465
00:20:41.240 --> 00:20:45.880
the education and just said, hey, you can buy this thing for $2,000 to $3,000 rather than

466
00:20:45.880 --> 00:20:48.480
saying buy it for $10 a month, right?

467
00:20:48.480 --> 00:20:52.520
It's a different way of monetizing the do it yourself path.

468
00:20:52.520 --> 00:20:56.440
But I also like this as a down sell because you're like, man, for only 50, you know, if

469
00:20:56.440 --> 00:21:00.720
I'm 3K for this and I just pay an extra $2,800 and I can have them do it and make sure

470
00:21:00.720 --> 00:21:02.840
it's right, I'd rather have them do it.

471
00:21:02.840 --> 00:21:04.880
So we actually have acres on both sides.

472
00:21:04.880 --> 00:21:08.600
So the down sell is not that much less and the acres way higher.

473
00:21:08.600 --> 00:21:13.720
So it makes the best path or the best option, the $5,800, which is the core offer.

474
00:21:13.720 --> 00:21:18.280
And then finally, if the metrics of the funnel worked out the way I think they would, based

475
00:21:18.280 --> 00:21:22.780
on how much he was losing, I think you would be able to scale up to three closures with

476
00:21:22.780 --> 00:21:24.560
his existing traffic.

477
00:21:24.560 --> 00:21:29.280
And this would take him to something like three to 10, you know, three to seven or eight

478
00:21:29.280 --> 00:21:30.520
sales a day.

479
00:21:30.520 --> 00:21:34.040
And we're talking about $18,000 to $50,000 a day in potential.

480
00:21:34.040 --> 00:21:35.040
This would be clear.

481
00:21:35.040 --> 00:21:36.040
I'm not promising that's going to happen.

482
00:21:36.040 --> 00:21:39.720
I'm not saying that that is the end result of here, but like that was the potential in

483
00:21:39.720 --> 00:21:41.720
the business as it currently stood.

484
00:21:41.720 --> 00:21:45.200
And so when we put these pieces in place for the sales process, it creates a predictable

485
00:21:45.200 --> 00:21:48.720
system rather than relying on ad hoc or random chance.

486
00:21:48.720 --> 00:21:53.480
And the pre-qualification process, make sure that time is spent with the viable prospects,

487
00:21:53.480 --> 00:21:57.400
the good people who got the money to spend the need to get solved, the authority to make

488
00:21:57.400 --> 00:21:59.240
the decision they want to do it now, right?

489
00:21:59.240 --> 00:22:03.400
And the VSL sets the expectations and a structured approach in the conversation allows

490
00:22:03.400 --> 00:22:06.880
for continuous improvement so that you can actually look at the sales, you can listen

491
00:22:06.880 --> 00:22:10.160
to the recordings, you can ask to the VSL, you can ask to the script, and you keep the

492
00:22:10.160 --> 00:22:12.120
optimization cycle going.

493
00:22:12.120 --> 00:22:16.040
And this is what makes sales repeatable, measurable, and ultimately scalable to a team rather

494
00:22:16.040 --> 00:22:17.400
than it just being a big.

495
00:22:17.400 --> 00:22:21.400
We talk to people sometimes, approach, which is what a lot of business owners do because,

496
00:22:21.400 --> 00:22:22.840
you know, it's worked for you so far.

497
00:22:22.840 --> 00:22:25.440
The thing is that sometimes what's worked for you so far is not going to get you where

498
00:22:25.440 --> 00:22:26.440
you want to go.

499
00:22:26.440 --> 00:22:27.440
All right.

500
00:22:27.440 --> 00:22:30.280
Now, instead of this business, now let's look at what happens after we install these

501
00:22:30.280 --> 00:22:31.280
three things.

502
00:22:31.280 --> 00:22:33.320
I can't, I'm not a genie, I can't look into the future.

503
00:22:33.320 --> 00:22:37.000
I don't know what's going to happen, but I think the likelihood that he makes more is high.

504
00:22:37.000 --> 00:22:38.000
All right.

505
00:22:38.000 --> 00:22:42.000
And so instead of losing $100,000 a year, which is what he came in at, right?

506
00:22:42.000 --> 00:22:46.240
And being six months away from going out of business, immediately, because he cut the

507
00:22:46.240 --> 00:22:48.360
negative hundred, we're now a break even.

508
00:22:48.360 --> 00:22:51.240
So that one I feel pretty confident about, like if we stop doing the thing that's losing

509
00:22:51.240 --> 00:22:53.360
us money, we will stop losing money.

510
00:22:53.360 --> 00:22:56.800
Now, the next thing is are we going to get the three to five X that we immediately get

511
00:22:56.800 --> 00:23:01.340
from the price increase, or we're going to get the increase in traffic that we have by

512
00:23:01.340 --> 00:23:04.240
sorting people with DMs and getting way more opportunities, or we're going to get an

513
00:23:04.240 --> 00:23:08.840
increase in conversion, because we have a sales process in play, probably all of these

514
00:23:08.840 --> 00:23:09.840
things.

515
00:23:09.840 --> 00:23:10.840
Or maybe not, but who knows?

516
00:23:10.840 --> 00:23:14.120
But the thing is that I can certainly say that the chances that this business after these

517
00:23:14.120 --> 00:23:17.000
four changes get made makes money goes way up.

518
00:23:17.000 --> 00:23:21.520
So the TLDR is this, keep the main thing the main thing and cut what's not working.

519
00:23:21.520 --> 00:23:25.120
And that feels hard in the moment, but sometimes you need somebody from the outside to be like,

520
00:23:25.120 --> 00:23:28.880
this clearly is losing you money, you're never going to sell this thing, focus your attention

521
00:23:28.880 --> 00:23:30.360
where you get the best returns.

522
00:23:30.360 --> 00:23:33.040
Second point, traffic is useless without a clear direction.

523
00:23:33.040 --> 00:23:36.160
So make sure you're pointing everyone I like what I call one front door.

524
00:23:36.160 --> 00:23:39.400
So I want lots different, you know, lines in the water, but I want one boat for them to

525
00:23:39.400 --> 00:23:40.400
get into.

526
00:23:40.400 --> 00:23:41.400
Right?

527
00:23:41.400 --> 00:23:42.400
I don't want six different boats for me to catch fish on.

528
00:23:42.400 --> 00:23:46.760
I want one boat with lots of lines, three, price based on value, not time.

529
00:23:46.760 --> 00:23:48.600
If you can't, at the end of the day, people don't want your time.

530
00:23:48.600 --> 00:23:51.440
They don't like, if you could say, hey, I could do this thing in five minutes, why would

531
00:23:51.440 --> 00:23:52.440
we build on time?

532
00:23:52.440 --> 00:23:56.640
We're actually, we're actually have a disincentive to do it faster, which is not a line with

533
00:23:56.640 --> 00:23:57.640
our customer.

534
00:23:57.640 --> 00:24:01.120
So if we, and this is part of the sales pitch, right, if you say, hey, some people build

535
00:24:01.120 --> 00:24:02.200
hourly, we don't do that.

536
00:24:02.200 --> 00:24:05.280
We just build an outcome and that incentivizes both of us to get this done as fast as possible.

537
00:24:05.280 --> 00:24:06.280
Would you rather take longer or shorter?

538
00:24:06.280 --> 00:24:07.280
Well, this is a shorter, great.

539
00:24:07.280 --> 00:24:08.280
That's why we build this way.

540
00:24:08.280 --> 00:24:10.640
And we have a commission because we're also incentivized like you to get a deal done,

541
00:24:10.640 --> 00:24:12.320
which is also why you want to do this.

542
00:24:12.320 --> 00:24:14.160
And number four, you can't scale, which can't repeat.

543
00:24:14.160 --> 00:24:15.160
All right.

544
00:24:15.160 --> 00:24:19.200
So we have the repeatable process, like this is how this conversation goes, so that somebody

545
00:24:19.200 --> 00:24:20.840
else can have this conversation.

546
00:24:20.840 --> 00:24:23.000
Which, if you follow these steps, is likely to occur.