WEBVTT 1 00:00:00.000 --> 00:00:02.900 But the other half of the equation is making the customers more valuable. 2 00:00:02.900 --> 00:00:08.000 Alright, one of the key ways of doing that is delivering more valuable services, right? 3 00:00:08.000 --> 00:00:11.640 Welcome to the game where we talk about how to get more customers, how to make more 4 00:00:11.640 --> 00:00:14.920 customers, how to keep them longer than the many failures and lessons we have learned 5 00:00:14.920 --> 00:00:15.920 along the way. 6 00:00:15.920 --> 00:00:19.120 I hope you enjoy and subscribe. 7 00:00:19.120 --> 00:00:23.440 Entrepreneurs and business owners, my name is Alex Ramozi and in the last four years 8 00:00:23.440 --> 00:00:26.920 we've done 120 million in sales across my four companies. 9 00:00:26.920 --> 00:00:31.080 I just want to share some of the lessons that have worked well for us in this time period. 10 00:00:31.080 --> 00:00:34.240 So one of the questions we get is like, how do I make more money, right? 11 00:00:34.240 --> 00:00:38.520 And a lot of times people think about acquisition stuff and sometimes it is acquisition based. 12 00:00:38.520 --> 00:00:41.120 But the other half of the equation is making the customers more valuable. 13 00:00:41.120 --> 00:00:46.080 Alright, one of the key ways of doing that is delivering more valuable services, right? 14 00:00:46.080 --> 00:00:48.800 And so services in general, right? 15 00:00:48.800 --> 00:00:51.120 You can think about this from a consulting basis, you can think about this from a service 16 00:00:51.120 --> 00:00:52.120 pay, whatever, right? 17 00:00:52.120 --> 00:00:55.600 So this is not for physical product-based businesses, this is for service type businesses. 18 00:00:56.000 --> 00:00:59.720 And so what I want to walk you through is what I call the service delivery cube. 19 00:00:59.720 --> 00:01:03.960 And it's cube because there's six sides, you're going to see the chart that I'm showing you right here is six. 20 00:01:03.960 --> 00:01:06.600 And I'll walk through each one of them. 21 00:01:06.600 --> 00:01:11.520 This is a creative process that I use and I'm thinking about how can I explain product lines? 22 00:01:11.520 --> 00:01:15.800 What thing can I do with the existing resources that I have that can provide more value to my customers? 23 00:01:15.800 --> 00:01:20.000 And you'd be amazed that if you walk through this cube, so many opportunities will jump out at you 24 00:01:20.000 --> 00:01:24.600 using what, you know, excess capacity or sawdust, right? 25 00:01:24.600 --> 00:01:29.160 So if you were, if you had a lumber mill and all you do is you saw lumber, there's all this sawdust 26 00:01:29.160 --> 00:01:32.280 that comes up on the ground and it's like, how can we monetize the sawdust, right? 27 00:01:32.280 --> 00:01:36.000 We can, we can make sandpaper out of it, we can put it in the pellets so that they can make pellet 28 00:01:36.000 --> 00:01:36.800 stoves, right? 29 00:01:36.800 --> 00:01:42.160 So how can we, how can we use what we already have without incurring more cost and drive more value to our clients 30 00:01:42.160 --> 00:01:43.800 by repackaging the same thing? 31 00:01:43.800 --> 00:01:46.720 And so this is called the service delivery cube, alright? 32 00:01:46.720 --> 00:01:49.760 So there's six components to this. 33 00:01:49.760 --> 00:01:52.160 One is the ratio, alright? 34 00:01:52.200 --> 00:01:56.680 Which is, what's my client ratio for a service? 35 00:01:56.680 --> 00:01:59.080 What if I wanted to do something one on one? 36 00:01:59.080 --> 00:02:00.480 What if I want to do small group? 37 00:02:00.480 --> 00:02:02.720 What if I want to do one to many, alright? 38 00:02:02.720 --> 00:02:04.320 One to unlimited amount. 39 00:02:04.320 --> 00:02:08.320 So whatever I'm doing now, I like to think about, is there a way that I could do this one on one? 40 00:02:08.320 --> 00:02:09.640 Is there a way that I could do this in a small group? 41 00:02:09.640 --> 00:02:12.360 Is this way, is there a way I could do this one to many, right? 42 00:02:12.360 --> 00:02:18.000 So this is the first kind of filter that I'll look any service or potential other offering through. 43 00:02:18.040 --> 00:02:21.760 The next is what extent is my client going to be involved? 44 00:02:21.760 --> 00:02:23.720 Is it going to be, do it yourself? 45 00:02:23.720 --> 00:02:26.120 Is it going to be done with you, right? 46 00:02:26.120 --> 00:02:30.200 Where we're going to help them implement, you know, a change of some kind, 47 00:02:30.200 --> 00:02:31.440 or is it going to be done for you? 48 00:02:31.440 --> 00:02:34.640 It's hands off, they just pay us money and they get this result. 49 00:02:34.640 --> 00:02:37.680 Alright, and so these are varying levels of value and service. 50 00:02:37.680 --> 00:02:42.360 Alright, what's interesting about this one is that I like, there's another video I'll make in another time 51 00:02:42.360 --> 00:02:44.120 for the sales to fulfillment continuum. 52 00:02:44.160 --> 00:02:50.480 But basically the harder, the easier it is for you to fulfill, the harder it tends to be to sell. 53 00:02:50.480 --> 00:02:54.560 And so do it yourself is one of the hardest things to sell to someone because it's such low value 54 00:02:54.560 --> 00:02:59.000 because all of the efforts on them done with you is a little bit easier to sell 55 00:02:59.000 --> 00:03:01.040 because you have a little bit of educational components. 56 00:03:01.040 --> 00:03:03.560 They feel like they're learning the skill, right? 57 00:03:03.560 --> 00:03:05.800 And it's a little easier for you to fulfill on. 58 00:03:05.800 --> 00:03:10.080 And then finally, the easiest thing to sell is done for you because someone just gives you money 59 00:03:10.080 --> 00:03:12.000 and they get the result and it's the shortcut, right? 60 00:03:12.000 --> 00:03:14.040 But this tends to be the most operationally complex. 61 00:03:14.040 --> 00:03:19.280 There are, you know, billion dollar companies in each of these spaces, they're just very on, 62 00:03:19.280 --> 00:03:23.040 you know, the more do it yourself, it is, the more of a marketing and equity it is. 63 00:03:23.040 --> 00:03:27.080 The more done for you is, many times these types of companies can provide such value 64 00:03:27.080 --> 00:03:29.360 that people just come to them, right? 65 00:03:29.360 --> 00:03:34.240 And so that's the second of the service delivery cube of things that I'm looking at. 66 00:03:34.240 --> 00:03:39.040 So I might already have one of these, is there a way I could go up or down on this scale, right? 67 00:03:39.040 --> 00:03:42.080 The third is what I would consider support level. 68 00:03:42.080 --> 00:03:45.720 All right, and where they're going to get support, all right? 69 00:03:45.720 --> 00:03:49.280 So are they going to be supported in this process via text? 70 00:03:49.280 --> 00:03:51.200 Are they going to be supported in this process via chat? 71 00:03:51.200 --> 00:03:57.160 They're going to be some process via email via, via, you know, expert representative via phone via zoom. 72 00:03:57.160 --> 00:04:04.480 What's the channel or channels that they're going to have access to me and my team, all right? 73 00:04:04.480 --> 00:04:07.160 Excuse me. 74 00:04:07.160 --> 00:04:12.400 The fourth is going to be, how do I want them to consume the information, all right? 75 00:04:12.400 --> 00:04:17.720 So if I'm going to have some sort of service delivery, there's going to be some sort of onboarding process, right? 76 00:04:17.720 --> 00:04:20.120 Do I want this to be live, right? 77 00:04:20.120 --> 00:04:21.960 Do I want this to be recorded? 78 00:04:21.960 --> 00:04:24.200 Do I want this to be written, right? 79 00:04:24.200 --> 00:04:28.840 Do I want this to be, do I want this to be audio, right? 80 00:04:28.840 --> 00:04:32.320 Like if you're listening on the podcast, I want to have like audio book versions of this. 81 00:04:32.320 --> 00:04:33.840 Do I want this to be video, right? 82 00:04:33.840 --> 00:04:35.840 And all of these things can be live or recorded. 83 00:04:35.840 --> 00:04:39.800 So there's kind of the variations in terms of how I want them to consume, right? 84 00:04:39.800 --> 00:04:44.240 This is the consumption piece, consumption, consume the information, right? 85 00:04:44.240 --> 00:04:46.160 And so we're going through the service delivery cube. 86 00:04:46.160 --> 00:04:48.040 So I'm looking at, what's the ratio? 87 00:04:48.040 --> 00:04:51.280 And the thing is, is all of these are a lot of variables and that's okay. 88 00:04:51.280 --> 00:04:56.160 The point is that if you already have something, you can look at where it fits on all six of these things and say, 89 00:04:56.160 --> 00:04:58.600 can I move it one to the left or one to the right, right? 90 00:04:58.600 --> 00:05:06.440 And if you think about it that way, you'll be able to, excuse me, a little tickle there. 91 00:05:06.440 --> 00:05:10.920 Be able to come up with a new product that might be more valuable and maybe even less cost to you, right? 92 00:05:10.920 --> 00:05:16.120 And that's what we're trying to find is I want to unearth where there's hidden value within my company 93 00:05:16.120 --> 00:05:20.720 using the existing resources I have that can drive more revenue and profit up to the business, all right? 94 00:05:23.600 --> 00:05:27.360 Hey guys, real quick for those of you guys who are $100 million offers fans. 95 00:05:27.400 --> 00:05:28.240 I love you. 96 00:05:28.240 --> 00:05:31.520 I added in a lost chapter that has never been released. 97 00:05:31.520 --> 00:05:32.600 I'm releasing it now. 98 00:05:32.600 --> 00:05:35.960 Transparently, I'm doing that to build hype for $100 million leads. 99 00:05:35.960 --> 00:05:38.200 But you will have the unreleased chapter. 100 00:05:38.200 --> 00:05:41.800 It talks about your first avatar and how to segment customers to make more money. 101 00:05:41.800 --> 00:05:45.360 You can get it by going to acquisition.com forward slash leads. 102 00:05:45.360 --> 00:05:50.320 It's a free exchange for emails so that I can email you when we launch $100 million leads 103 00:05:50.320 --> 00:05:54.680 and so that you cannot miss out on it because last time I sold out for like eight straight weeks, really fast. 104 00:05:54.680 --> 00:05:57.520 So that is my way of making sure that y'all get first tips. 105 00:06:00.880 --> 00:06:03.000 The next is speed and convenience, all right? 106 00:06:03.000 --> 00:06:06.960 So one of my favorite sayings is that fast beats free. 107 00:06:06.960 --> 00:06:11.800 And so if you look at Uber, people could walk, they take Uber. 108 00:06:11.800 --> 00:06:16.120 You look at FedEx, they could use the US Postal Service, but instead they pay more to get it overnight. 109 00:06:16.120 --> 00:06:19.880 Spotify, there was free, free music on the internet, but it was a pain in the ass. 110 00:06:19.880 --> 00:06:21.000 You know, download all that stuff. 111 00:06:21.000 --> 00:06:26.680 Instead, Spotify came in and you could pay to not have the inconvenience, right? 112 00:06:26.680 --> 00:06:29.320 So speed in and of itself is something that people will pay for, all right? 113 00:06:29.320 --> 00:06:32.560 So is there a way that I can cut the results in half the time? 114 00:06:32.560 --> 00:06:35.040 Is there a way that I can speed up my support? 115 00:06:35.040 --> 00:06:39.680 So maybe I have normal support, which is, you know, you get to reply at 24 hours, 116 00:06:39.680 --> 00:06:44.240 but then I have VIP support, which is you get a response in 60 minutes or less, right? 117 00:06:44.240 --> 00:06:48.480 So it's all my existing resources, but just put in repackage in a different way 118 00:06:48.480 --> 00:06:50.240 than the different expectation for the client, right? 119 00:06:50.240 --> 00:06:51.720 And a lot of people will pay for that. 120 00:06:51.720 --> 00:06:54.520 So that's an easy one that we can deliver value for, all right? 121 00:06:54.520 --> 00:06:55.680 So that's the fifth one. 122 00:06:55.680 --> 00:07:00.120 And then the last one, excuse me, is more of a mental exercise, 123 00:07:00.120 --> 00:07:03.760 which I call the one 10x to one 10th, all right? 124 00:07:03.760 --> 00:07:06.680 And this is a creative process that I like to think of, which is, 125 00:07:06.680 --> 00:07:10.760 if I were to 10x my price of this thing, what else would I include, right? 126 00:07:10.760 --> 00:07:13.080 What else would I be willing to do, right? 127 00:07:13.080 --> 00:07:17.680 And on the flip side, if the price of what I, if I did was one 10th, 128 00:07:17.680 --> 00:07:23.440 if I had to fit it into one 10th of price and I had to deliver more value than I am right now, 129 00:07:23.440 --> 00:07:24.720 how would I do it? 130 00:07:24.720 --> 00:07:28.400 And so there are two, those are two creative questions from different ends of the scale. 131 00:07:28.400 --> 00:07:32.600 So if I had $1,000 product, for example, if my thing was $10,000, 132 00:07:32.600 --> 00:07:35.160 what would I be able to do that I'm not doing now, right? 133 00:07:35.160 --> 00:07:38.120 And a lot of times some of the creative ideas you have, you could actually still do right now 134 00:07:38.120 --> 00:07:42.840 at these price points and figure out how to jam pack more value into your offering. 135 00:07:42.840 --> 00:07:46.640 And on the flip side, if I offered my product for $100, 136 00:07:46.640 --> 00:07:49.520 and I said I had to make it more valuable than it currently is, 137 00:07:49.520 --> 00:07:53.440 what else would I include, what else would I build into this thing, right? 138 00:07:53.440 --> 00:07:56.160 And so by thinking through both of those processes, 139 00:07:56.160 --> 00:08:01.320 I can usually come up with new ways to repackage my products and offerings and services 140 00:08:01.320 --> 00:08:02.720 to become more valuable, all right? 141 00:08:02.720 --> 00:08:07.280 So the service delivery cube, the reason that I go through this is because I want to see 142 00:08:07.280 --> 00:08:11.200 how I can find excess capacity in my business to journey at more revenue and profit 143 00:08:11.200 --> 00:08:13.680 without taking on more expenses or liability. 144 00:08:13.720 --> 00:08:17.280 And I look at where my current products exist on this cube 145 00:08:17.280 --> 00:08:20.360 and think, could I go one to the left or one to the right on any of these six? 146 00:08:20.360 --> 00:08:21.600 So I'll say I'm going to get from the top. 147 00:08:21.600 --> 00:08:24.480 We've got the ratio of, is it going to be one on one? 148 00:08:24.480 --> 00:08:26.200 Is it going to be small group? Is it going to be one to many? 149 00:08:26.200 --> 00:08:29.120 I've got what level of effort are they going to be putting in? 150 00:08:29.120 --> 00:08:31.320 Is it do it yourself done with you or done for you? 151 00:08:31.320 --> 00:08:33.760 Right? Can I move either way to on this? 152 00:08:33.760 --> 00:08:37.680 The third is going to be what level of support or what channels of support, excuse me? 153 00:08:37.680 --> 00:08:40.160 Are the clients going to get, are they going to get only text? 154 00:08:40.160 --> 00:08:41.600 Are they going to get only phone calls? 155 00:08:41.600 --> 00:08:44.560 Are they going to get phone and call or can I have different levels? 156 00:08:44.560 --> 00:08:47.760 Based on these channels, like we have our lower level, which is just email 157 00:08:47.760 --> 00:08:51.400 and we've got our higher level, which is phone and zoom, right? 158 00:08:51.400 --> 00:08:53.560 The fourth is going to be how I want them to consume this. 159 00:08:53.560 --> 00:08:56.440 Do I want this to be a live experience with this recorded experience? 160 00:08:56.440 --> 00:08:58.680 Do I want this to be written audio or video? 161 00:08:58.680 --> 00:09:01.960 How do I want them to consume information for me as a business? 162 00:09:01.960 --> 00:09:04.240 Fifth is how can I make this more convenient or less convenient? 163 00:09:04.240 --> 00:09:06.240 How can I make this faster for them? 164 00:09:06.240 --> 00:09:08.800 How can I increase the speed of communication with them? 165 00:09:08.800 --> 00:09:13.000 How can I deliver that in a way that's going to be in a very real way more valuable? 166 00:09:13.000 --> 00:09:14.000 People pay for speed. 167 00:09:14.000 --> 00:09:18.360 One of the easiest things in the entire world is look at any service category that exists 168 00:09:18.360 --> 00:09:21.200 and see if you can deliver the result in half the time. 169 00:09:21.200 --> 00:09:22.200 Just focus on that. 170 00:09:22.200 --> 00:09:24.160 Amazon Prime, think about it. 171 00:09:24.160 --> 00:09:27.520 They created an entire movement with it. 172 00:09:27.520 --> 00:09:30.940 They changed the transform the entire e-commerce space simply by saying we're going to get 173 00:09:30.940 --> 00:09:35.560 stuff to everyone in two days, and now one day, and now hours. 174 00:09:35.560 --> 00:09:38.200 And then finally, the creative process of 10x to 1.10th. 175 00:09:38.200 --> 00:09:42.180 If I had, if I were selling this for 10x more than I am right now, what would I include 176 00:09:42.180 --> 00:09:45.760 that I'm not, and then can I include those in my current offering because I just didn't 177 00:09:45.760 --> 00:09:46.760 think about it? 178 00:09:46.760 --> 00:09:50.000 And then if I had to deliver more value that I currently am, and I was doing this for 179 00:09:50.000 --> 00:09:53.480 at 1.10th of the price, what would I get back into that thing? 180 00:09:53.480 --> 00:09:55.880 And so this is the service delivery cube. 181 00:09:55.880 --> 00:09:59.120 Hopefully you found this valuable so I don't choke on myself from this tickle that I'm 182 00:09:59.120 --> 00:10:01.520 trying to keep down. 183 00:10:01.520 --> 00:10:05.360 Use this, think through it, and if you're meeting with your team and thinking how could 184 00:10:05.360 --> 00:10:08.600 you provide more value, this is one of the easiest cubes I'd like to walk through. 185 00:10:08.600 --> 00:10:10.280 So lots of love keeping awesome kitchen on the flip side. 186 00:10:10.280 --> 00:10:15.520 Like, subscribe, comment, tell me some questions, and I will post some answers to them. 187 00:10:15.520 --> 00:10:16.720 So keeping awesome kitchen tips. 188 00:10:16.720 --> 00:10:16.960 Bye!