WEBVTT 1 00:00:00.000 --> 00:00:02.760 Today I've got a special edition, $100.00 2 00:00:02.760 --> 00:00:05.120 leads episode, collaboration with the podcast, 3 00:00:05.120 --> 00:00:08.440 the game, myself and myself, a self-high five, if you will. 4 00:00:08.440 --> 00:00:10.160 We've got two chapters for you today, 5 00:00:10.160 --> 00:00:14.880 special cooking in the big cauldron of money-making madness 6 00:00:14.880 --> 00:00:16.080 that is this podcast. 7 00:00:16.080 --> 00:00:19.000 We're gonna be going over employees and agencies, 8 00:00:19.000 --> 00:00:22.120 employees so that they can help you do the core for you, 9 00:00:22.120 --> 00:00:23.920 except on payroll and agencies, 10 00:00:23.920 --> 00:00:26.200 our outside entities that will do them for you as well. 11 00:00:26.200 --> 00:00:28.800 I have a really unique spin on how I use agencies, 12 00:00:28.800 --> 00:00:30.800 so you're gonna want to stay tuned to that, 13 00:00:30.800 --> 00:00:32.960 so I hope you enjoy and subscribe. 14 00:00:35.240 --> 00:00:36.600 Employees. 15 00:00:36.600 --> 00:00:38.120 If you want to go fast, go alone. 16 00:00:38.120 --> 00:00:40.160 If you want to go far, go together. 17 00:00:40.160 --> 00:00:41.000 African proverb. 18 00:00:42.240 --> 00:00:44.160 June 2021. 19 00:00:44.160 --> 00:00:46.160 The new sales director piped up. 20 00:00:46.160 --> 00:00:47.640 I know we came into our goal again, 21 00:00:47.640 --> 00:00:49.160 but I don't think we need to change anything. 22 00:00:49.160 --> 00:00:50.560 We'll hit it this quarter. 23 00:00:50.560 --> 00:00:51.560 Eyes started around the room 24 00:00:51.560 --> 00:00:53.240 and looked in every direction but mine. 25 00:00:53.240 --> 00:00:55.200 The silence was long enough for the executive assistant 26 00:00:55.200 --> 00:00:57.360 to mark the topic covered and move on. 27 00:00:57.360 --> 00:00:58.760 No wonder we missed our code outreach goal 28 00:00:58.760 --> 00:01:00.200 for the second quarter in row. 29 00:01:00.200 --> 00:01:02.000 Nobody challenged the failure. 30 00:01:02.000 --> 00:01:04.680 What, so now we think the third time's the charm? 31 00:01:04.680 --> 00:01:08.000 Wait, I said, now everyone looked in my direction. 32 00:01:08.000 --> 00:01:10.600 I'd like to know why we didn't hit this two quarters in row. 33 00:01:10.600 --> 00:01:11.960 I know we can sell, 34 00:01:11.960 --> 00:01:13.680 so if we want to make more sales with code outreach, 35 00:01:13.680 --> 00:01:16.720 then we do more code outreach, what's the issue? 36 00:01:16.720 --> 00:01:19.480 We lose a rep every four weeks, the sales director said, 37 00:01:19.480 --> 00:01:22.160 aha, okay, why is our turn so high? 38 00:01:23.040 --> 00:01:24.160 I was wondering the same thing, 39 00:01:24.160 --> 00:01:26.280 but HR says we're actually below industry average 40 00:01:26.280 --> 00:01:28.360 turn for this position, he continued. 41 00:01:28.360 --> 00:01:30.040 But by the time we hired on board one, 42 00:01:30.040 --> 00:01:31.400 another one turns out, 43 00:01:31.400 --> 00:01:34.760 I saw the HR director nodding in agreement, getting warmer. 44 00:01:34.760 --> 00:01:37.200 Okay, so the issue is hiring, I said, 45 00:01:37.200 --> 00:01:39.160 what's the hiring situation look like? 46 00:01:39.160 --> 00:01:42.440 We hire one out of every four candidates, HR pushes to us. 47 00:01:42.440 --> 00:01:44.560 So if they turn out as fast as we hire them 48 00:01:44.560 --> 00:01:46.720 and you only hire one out of every four, 49 00:01:46.720 --> 00:01:49.880 that means you get like one candidate a week? 50 00:01:49.880 --> 00:01:52.320 Yeah, about that, almost there. 51 00:01:52.320 --> 00:01:53.160 Gotcha. 52 00:01:53.160 --> 00:01:54.840 Now I looked at the HR director. 53 00:01:54.840 --> 00:01:56.920 What's the screening situation look like? 54 00:01:56.920 --> 00:01:58.200 We get one qualified candidate 55 00:01:58.200 --> 00:02:00.760 per 10 screening interviews give or take, she said. 56 00:02:00.760 --> 00:02:03.120 So it takes 40 interviews to get a single, 57 00:02:03.120 --> 00:02:05.280 low skilled frontline worker. 58 00:02:05.280 --> 00:02:07.280 I guess so, bingo. 59 00:02:07.280 --> 00:02:08.720 All right, we need to change things up. 60 00:02:08.720 --> 00:02:11.520 I said, we're bottlenecked at the one-to-one screening. 61 00:02:11.520 --> 00:02:14.120 Start interviewing in groups and look for the crazies there. 62 00:02:14.120 --> 00:02:16.120 Push everyone else with a good work ethic 63 00:02:16.120 --> 00:02:17.840 and basic social skills over to sales. 64 00:02:17.840 --> 00:02:19.680 We can teach the rest, agreed? 65 00:02:19.680 --> 00:02:20.760 The team nodded. 66 00:02:20.760 --> 00:02:23.280 Within six weeks, hiring outpace turn, 67 00:02:23.280 --> 00:02:25.920 our code outreach sales increased in lockstep. 68 00:02:25.920 --> 00:02:27.160 By the end of the quarter, 69 00:02:27.160 --> 00:02:28.520 code outreach sales had doubled 70 00:02:28.520 --> 00:02:30.560 and made up more than half our total sales. 71 00:02:30.560 --> 00:02:32.760 The issue wasn't code outreach method, skills, 72 00:02:32.760 --> 00:02:33.960 or offer at all. 73 00:02:33.960 --> 00:02:36.800 We just didn't have enough people doing code outreach. 74 00:02:36.800 --> 00:02:38.040 If you use the methods in this book, 75 00:02:38.040 --> 00:02:40.000 you'll see more engaged leads flow into your business. 76 00:02:40.000 --> 00:02:41.760 More engaged leads means more customers. 77 00:02:41.760 --> 00:02:43.640 But as you grow, so does your workload. 78 00:02:43.640 --> 00:02:45.640 In due time, it will take more work 79 00:02:45.640 --> 00:02:47.120 than a single person can handle. 80 00:02:47.120 --> 00:02:48.880 And you can solve the problem of too much work 81 00:02:48.880 --> 00:02:51.400 for one person by having more people work. 82 00:02:51.400 --> 00:02:54.280 In short, to advertise more, you'll need more workers. 83 00:02:54.280 --> 00:02:56.560 And this chapter will show you how employees work, 84 00:02:56.560 --> 00:02:58.320 why they make you wealthy, how to get them, 85 00:02:58.320 --> 00:03:00.960 and the method I use to turn them into lead getters. 86 00:03:00.960 --> 00:03:02.680 How employees work? 87 00:03:02.680 --> 00:03:04.880 Lead getting employees are people who work in your business 88 00:03:04.880 --> 00:03:06.960 that you train to get you leads. 89 00:03:06.960 --> 00:03:08.280 They get you leads the exact same way 90 00:03:08.280 --> 00:03:09.840 you got your own leads in the beginning. 91 00:03:09.840 --> 00:03:11.600 They can run ads, they can make and post content, 92 00:03:11.600 --> 00:03:12.840 and they can do outreach. 93 00:03:12.840 --> 00:03:15.240 They could do any advertising you train them to do. 94 00:03:15.240 --> 00:03:16.560 So more lead getting employees 95 00:03:16.560 --> 00:03:18.040 means more engaged leads for your business. 96 00:03:18.040 --> 00:03:20.760 It also means less work you have to do to get the leads. 97 00:03:20.760 --> 00:03:22.920 More leads and less work, sign me up. 98 00:03:22.920 --> 00:03:24.600 But wait, not so fast. 99 00:03:24.600 --> 00:03:27.040 Don't get me wrong, employees take work. 100 00:03:27.040 --> 00:03:28.440 They just take less time and work 101 00:03:28.440 --> 00:03:29.720 than doing everything on your own. 102 00:03:29.720 --> 00:03:32.240 In my experience, if you trade 40 hours of doing 103 00:03:32.240 --> 00:03:35.640 for four hours of managing, you work 36 hours less, brilliant. 104 00:03:35.640 --> 00:03:38.160 And the best part is you can make that trade over and over. 105 00:03:38.160 --> 00:03:39.960 You can swap 200 hours of work per week 106 00:03:39.960 --> 00:03:41.320 for 20 hours of management. 107 00:03:41.320 --> 00:03:43.000 Then you trade the 20 hours of managing 108 00:03:43.000 --> 00:03:45.960 for a manager who costs you four hours per week to lead. 109 00:03:45.960 --> 00:03:47.600 What remains is four hours of work 110 00:03:47.600 --> 00:03:51.120 for 200 hours of lead getting, boom, bottom line, 111 00:03:51.120 --> 00:03:52.840 employees make a fully functioning enterprise 112 00:03:52.840 --> 00:03:54.280 that grows without you. 113 00:03:54.280 --> 00:03:56.360 Why employees make you wealthy? 114 00:03:56.360 --> 00:03:57.880 For your business to run without you, 115 00:03:57.880 --> 00:03:59.720 other people need to run it. 116 00:03:59.720 --> 00:04:02.080 Scenario number one, imagine you have a business 117 00:04:02.080 --> 00:04:03.600 that makes five million per year in revenue 118 00:04:03.600 --> 00:04:05.600 and two million per year in profit. 119 00:04:05.600 --> 00:04:08.320 And to make that profit, you have to work around the clock. 120 00:04:08.320 --> 00:04:11.480 In the situation, you basically have a high paying job. 121 00:04:11.480 --> 00:04:13.520 But let's say you're okay with working all the hours 122 00:04:13.520 --> 00:04:14.800 and knowing your business would burn down 123 00:04:14.800 --> 00:04:16.040 if you took a vacation. 124 00:04:16.040 --> 00:04:17.720 Vacations are for losers anyways. 125 00:04:17.720 --> 00:04:19.560 Kidding, cough, sort of. 126 00:04:19.560 --> 00:04:21.640 We still have another important thing to look at. 127 00:04:21.640 --> 00:04:23.360 Sure, you make a bit of money, 128 00:04:23.360 --> 00:04:25.000 but your business isn't worth much. 129 00:04:25.000 --> 00:04:27.040 If the business only makes money with you in it, 130 00:04:27.040 --> 00:04:29.000 then it's a bad investment for anyone else. 131 00:04:29.000 --> 00:04:30.720 They may not sound like a big deal right now, 132 00:04:30.720 --> 00:04:32.440 but let's consider an alternative. 133 00:04:32.440 --> 00:04:34.600 Scenario two, your business makes the same 134 00:04:34.600 --> 00:04:35.920 five million per year in revenue 135 00:04:35.920 --> 00:04:37.600 and two million per year in profit. 136 00:04:37.600 --> 00:04:38.800 But there's one big difference. 137 00:04:38.800 --> 00:04:40.280 The business runs without you. 138 00:04:40.280 --> 00:04:41.960 This does two very cool things. 139 00:04:41.960 --> 00:04:43.840 One, it turns what used to be a risky job 140 00:04:43.840 --> 00:04:44.880 into a valuable asset. 141 00:04:44.880 --> 00:04:46.920 And two, it makes you much wealthier. 142 00:04:46.920 --> 00:04:47.920 Here's how. 143 00:04:47.920 --> 00:04:48.960 First, you get your time back. 144 00:04:48.960 --> 00:04:50.680 So you can use that time to invest in your business 145 00:04:50.680 --> 00:04:53.240 by other businesses or take your stinking vacations. 146 00:04:53.240 --> 00:04:54.600 Second, you become much wealthier 147 00:04:54.600 --> 00:04:57.240 because your business is now worth something to someone else. 148 00:04:57.240 --> 00:04:58.920 You turn a liability that relied on you 149 00:04:58.920 --> 00:05:01.240 into an asset you can rely on. 150 00:05:01.240 --> 00:05:03.200 If you have an asset that makes millions of dollars 151 00:05:03.200 --> 00:05:05.080 without you, then that means somebody else 152 00:05:05.080 --> 00:05:07.480 could use to make millions of dollars without them. 153 00:05:07.480 --> 00:05:09.800 In other words, your business is now a good investment. 154 00:05:09.800 --> 00:05:11.320 And then investors looking for assets 155 00:05:11.320 --> 00:05:13.120 like acquisition.com, for instance, 156 00:05:13.120 --> 00:05:14.920 would buy some or all of it from you. 157 00:05:14.920 --> 00:05:16.800 And your two million in profit per year, 158 00:05:16.800 --> 00:05:17.680 especially if it's climbing, 159 00:05:17.680 --> 00:05:20.160 could easily be worth $10 million right now. 160 00:05:20.160 --> 00:05:22.360 So your business went from having almost zero value 161 00:05:22.360 --> 00:05:24.200 to having $10 million of value. 162 00:05:24.200 --> 00:05:25.960 So learning how to get other people to do it for you 163 00:05:25.960 --> 00:05:28.400 makes a $10 million difference in your net worth. 164 00:05:28.400 --> 00:05:30.320 I'd say it's worth learning how to do it. 165 00:05:30.320 --> 00:05:32.560 Reminder, you get rich from what you make, 166 00:05:32.560 --> 00:05:34.440 you become wealthy from what you own. 167 00:05:34.440 --> 00:05:36.000 And it took me years to realize this 168 00:05:36.000 --> 00:05:38.800 because not that long ago, everything I thought I knew 169 00:05:38.840 --> 00:05:39.840 that employees was wrong. 170 00:05:40.760 --> 00:05:42.480 Have you ever heard, if you want it done right, 171 00:05:42.480 --> 00:05:43.680 you got to do it yourself. 172 00:05:43.680 --> 00:05:45.280 No one can do it like I can do it. 173 00:05:45.280 --> 00:05:46.760 Nobody can replace me. 174 00:05:46.760 --> 00:05:48.480 I have, I said all that stuff. 175 00:05:48.480 --> 00:05:49.520 I lived all that stuff. 176 00:05:49.520 --> 00:05:51.400 For years, every time I hired somebody, 177 00:05:51.400 --> 00:05:53.320 I would compare what they could do to what I could do. 178 00:05:53.320 --> 00:05:55.520 In my head, I felt like it was me against them. 179 00:05:55.520 --> 00:05:59.320 To somehow prove I was more able than them, with my own team. 180 00:05:59.320 --> 00:06:01.120 And this belief, this way of leading people 181 00:06:01.120 --> 00:06:02.760 never made me more money. 182 00:06:02.760 --> 00:06:04.440 For business, nobody can do it with me. 183 00:06:04.440 --> 00:06:05.680 And if you want something done right, 184 00:06:05.680 --> 00:06:08.400 you got to do it yourself, aren't facts, they're false. 185 00:06:08.400 --> 00:06:10.680 Somebody did similar stuff before you were around. 186 00:06:10.680 --> 00:06:12.440 And somebody will continue doing some version of it 187 00:06:12.440 --> 00:06:13.480 after you're gone. 188 00:06:13.480 --> 00:06:15.960 In one way or another, everyone is replaceable. 189 00:06:15.960 --> 00:06:17.760 It might be by multiple people, technology, 190 00:06:17.760 --> 00:06:20.160 or later in time, but everyone can be replaced. 191 00:06:20.160 --> 00:06:22.720 My suggestion, replace yourself as soon as you can. 192 00:06:22.720 --> 00:06:24.960 Then you can make yourself useful somewhere else. 193 00:06:24.960 --> 00:06:27.920 Many other people figured this out, and so can you. 194 00:06:27.920 --> 00:06:30.040 In the early days, whenever I started a business, 195 00:06:30.040 --> 00:06:31.920 I could do stuff better than the people I hired. 196 00:06:31.920 --> 00:06:34.040 My entire workforce always ended up looking 197 00:06:34.040 --> 00:06:35.800 like a Ragtag group of misfits 198 00:06:35.800 --> 00:06:38.720 who could kind of do one of many things I could do. 199 00:06:38.720 --> 00:06:40.400 This got me up and running it first, 200 00:06:40.400 --> 00:06:41.720 but I fell into the trap of believing 201 00:06:41.720 --> 00:06:43.400 I was better than everyone else. 202 00:06:43.400 --> 00:06:45.360 I would go back and forth between gloating 203 00:06:45.360 --> 00:06:46.400 because I was better than them 204 00:06:46.400 --> 00:06:48.320 and complaining because they weren't as good as me. 205 00:06:48.320 --> 00:06:50.320 And for whatever reason, it never occurred to me 206 00:06:50.320 --> 00:06:52.200 I was the one who hired and trained them. 207 00:06:52.200 --> 00:06:53.200 Who is that kidding? 208 00:06:53.200 --> 00:06:54.400 The reality was twofold. 209 00:06:54.400 --> 00:06:56.000 First, I didn't have the skills to train 210 00:06:56.000 --> 00:06:57.280 or lead a team properly. 211 00:06:57.280 --> 00:07:00.120 Second, I was too poor, and then when I had a little money 212 00:07:00.120 --> 00:07:01.960 too cheap to hire anyone better. 213 00:07:01.960 --> 00:07:04.160 In other words, it was my fault they sucked. 214 00:07:04.160 --> 00:07:05.360 Oops. 215 00:07:05.400 --> 00:07:07.200 The more I tried to outcompete my employees, 216 00:07:07.200 --> 00:07:08.800 the more distracted I became 217 00:07:08.800 --> 00:07:10.200 and the worse my business got. 218 00:07:10.200 --> 00:07:13.120 Sure, at the time, maybe I could do anything better 219 00:07:13.120 --> 00:07:14.560 than any of my employees, 220 00:07:14.560 --> 00:07:16.040 but I couldn't do everything better 221 00:07:16.040 --> 00:07:17.520 than all of my employees. 222 00:07:17.520 --> 00:07:18.840 And when I finally realized this, 223 00:07:18.840 --> 00:07:21.200 I started adopting better beliefs about talent. 224 00:07:21.200 --> 00:07:22.440 If you want it done right, 225 00:07:22.440 --> 00:07:24.600 get someone to spend all their time doing it. 226 00:07:24.600 --> 00:07:27.000 If I can do it, someone else can do it better. 227 00:07:27.000 --> 00:07:29.440 Everyone is replaceable, especially me. 228 00:07:29.440 --> 00:07:30.560 These new beliefs about talent 229 00:07:30.560 --> 00:07:32.960 not only made it a much healthier culture of my business, 230 00:07:32.960 --> 00:07:35.840 but also came with very profitable side effects. 231 00:07:35.840 --> 00:07:38.480 Trusting my employees to succeed made my time 232 00:07:38.480 --> 00:07:40.880 and my attention far more valuable. 233 00:07:40.880 --> 00:07:42.840 If someone else can do it, why would I? 234 00:07:42.840 --> 00:07:44.880 If someone else could train them, why would I? 235 00:07:44.880 --> 00:07:46.600 If I could learn other stuff to grow the business 236 00:07:46.600 --> 00:07:47.800 while my team held the fort down, 237 00:07:47.800 --> 00:07:49.320 it makes way more sense to do that. 238 00:07:49.320 --> 00:07:50.920 So let's do that. 239 00:07:50.920 --> 00:07:54.240 How to get employee leads, the internal core four. 240 00:07:54.240 --> 00:07:55.560 Remember the core four? 241 00:07:55.560 --> 00:07:57.520 Well, they work for getting employees too. 242 00:07:57.520 --> 00:07:59.360 Imagine that by changing the frame 243 00:07:59.360 --> 00:08:01.960 from letting potential customers know about your stuff to, 244 00:08:01.960 --> 00:08:03.640 letting potential employees know about your stuff, 245 00:08:03.640 --> 00:08:04.800 it immediately turns into something 246 00:08:04.800 --> 00:08:06.160 you already know how to do. 247 00:08:06.160 --> 00:08:08.160 But some people have the opposite problem. 248 00:08:08.160 --> 00:08:09.680 They already know how to get employees just fine, 249 00:08:09.680 --> 00:08:10.880 but struggle to get customers. 250 00:08:10.880 --> 00:08:12.120 Employees are just other people 251 00:08:12.120 --> 00:08:13.600 you let know about your stuff. 252 00:08:13.600 --> 00:08:14.760 So you do the same thing. 253 00:08:15.680 --> 00:08:17.400 Let's line up the actions to get employees 254 00:08:17.400 --> 00:08:18.760 with the actions to get customers. 255 00:08:18.760 --> 00:08:20.280 It's the same stuff. 256 00:08:20.280 --> 00:08:23.000 Warm outreach equals ask your network. 257 00:08:23.000 --> 00:08:25.040 Cold outreach equals recruiting. 258 00:08:25.040 --> 00:08:27.880 Posting content equals posting job openings. 259 00:08:27.880 --> 00:08:30.560 Paid ads equals promoted job postings. 260 00:08:30.560 --> 00:08:33.240 Customer referrals equals employee referrals. 261 00:08:33.240 --> 00:08:37.040 Affiliates equal associations, guilds, listservs, et cetera. 262 00:08:37.040 --> 00:08:39.000 Agencies equals staffing firms. 263 00:08:39.000 --> 00:08:40.480 Employees equals employees 264 00:08:40.480 --> 00:08:42.040 because those are the same thing. 265 00:08:42.040 --> 00:08:44.600 The ways you get employee leads and their lead getters 266 00:08:44.600 --> 00:08:46.480 have equivalent to the ways you get customer leads 267 00:08:46.480 --> 00:08:47.880 and their lead getters. 268 00:08:47.880 --> 00:08:49.120 So when you need to get your talent, 269 00:08:49.120 --> 00:08:50.720 you just advertise to get it. 270 00:08:50.720 --> 00:08:52.520 And when you need more, you do more. 271 00:08:52.520 --> 00:08:54.640 And like creating a reliable process to get customers, 272 00:08:54.640 --> 00:08:57.200 you can also create a reliable process of getting employees. 273 00:08:57.200 --> 00:08:59.320 And you'll need both to scale. 274 00:08:59.320 --> 00:09:01.600 How to get employees to get your leads. 275 00:09:01.600 --> 00:09:03.400 Now you hire someone who costs you money for a month. 276 00:09:03.400 --> 00:09:04.160 Great. 277 00:09:04.160 --> 00:09:07.080 Let's make sure you get it back and some ASAP. 278 00:09:07.080 --> 00:09:09.000 Note, some people looking for work 279 00:09:09.000 --> 00:09:10.760 will already know how to get leads. 280 00:09:10.760 --> 00:09:12.360 Those people are awesome. 281 00:09:12.360 --> 00:09:14.360 You can also count on them to cost more. 282 00:09:14.360 --> 00:09:15.280 And if you're starting out, 283 00:09:15.280 --> 00:09:16.600 you may not be able to afford them. 284 00:09:16.600 --> 00:09:18.680 So your next best option is to train them. 285 00:09:18.680 --> 00:09:20.240 Thankfully, you have an entire book 286 00:09:20.240 --> 00:09:21.920 of lead getting at your fingertips. 287 00:09:21.920 --> 00:09:23.440 So the next step is training your employees 288 00:09:23.440 --> 00:09:25.880 on how you do those lead getting activities. 289 00:09:25.880 --> 00:09:27.960 I think about an actually approach training 290 00:09:27.960 --> 00:09:30.000 with this 3D's mental model. 291 00:09:30.000 --> 00:09:32.120 Document, demonstrate, duplicate. 292 00:09:32.120 --> 00:09:33.240 Here's how it works. 293 00:09:33.240 --> 00:09:35.960 Step one, document, you make a checklist. 294 00:09:35.960 --> 00:09:37.800 You already know how to do the thing. 295 00:09:37.800 --> 00:09:39.840 Now you just need to write down the steps exactly 296 00:09:39.840 --> 00:09:40.680 as you do it. 297 00:09:40.680 --> 00:09:42.400 You can also have other trusted observers 298 00:09:42.400 --> 00:09:44.160 watch you and document what you do. 299 00:09:44.160 --> 00:09:46.040 Bonus points, if you record yourself doing the thing, 300 00:09:46.040 --> 00:09:47.800 multiple ways and in multiple shifts. 301 00:09:47.800 --> 00:09:49.400 This way, you can watch yourself as an observer 302 00:09:49.400 --> 00:09:50.480 rather than breaking your flow 303 00:09:50.480 --> 00:09:52.680 by pausing to take notes while you go. 304 00:09:52.680 --> 00:09:54.720 Once you've got everything put into a checklist, 305 00:09:54.720 --> 00:09:56.360 bust it out on your next work block 306 00:09:56.440 --> 00:09:58.120 and only follow those steps. 307 00:09:58.120 --> 00:10:01.480 Can you do an A plus job only following your directions 308 00:10:01.480 --> 00:10:02.440 exactly? 309 00:10:02.440 --> 00:10:04.320 If you can, you have the first draft 310 00:10:04.320 --> 00:10:06.160 of your checklist for the job. 311 00:10:06.160 --> 00:10:07.720 Step two, demonstrate. 312 00:10:07.720 --> 00:10:09.280 You do it in front of them. 313 00:10:09.280 --> 00:10:11.760 Just like your parents taught you how to tie your shoes, 314 00:10:11.760 --> 00:10:13.560 you sit down and walk them through the checklist 315 00:10:13.560 --> 00:10:14.480 step by step. 316 00:10:14.480 --> 00:10:16.440 This may take a while depending on how many steps 317 00:10:16.440 --> 00:10:17.960 it takes to complete the thing. 318 00:10:17.960 --> 00:10:21.200 If they stop you or slow down to understand something, 319 00:10:21.200 --> 00:10:22.880 adjust your checklist for that. 320 00:10:22.880 --> 00:10:25.680 Now you have the second draft ready for them to try. 321 00:10:25.720 --> 00:10:27.600 Step three, duplicate. 322 00:10:27.600 --> 00:10:29.440 They do it in front of you. 323 00:10:29.440 --> 00:10:30.640 Now it's their turn. 324 00:10:30.640 --> 00:10:32.360 They follow the same checklist you followed 325 00:10:32.360 --> 00:10:34.240 except this time they're the one doing it 326 00:10:34.240 --> 00:10:35.680 and you're the one observing. 327 00:10:35.680 --> 00:10:37.840 We just want them to duplicate what we did. 328 00:10:37.840 --> 00:10:40.520 So if the checklist is right, the outcome will be the same. 329 00:10:40.520 --> 00:10:43.000 And if the checklist is off, you'll find out fast. 330 00:10:43.000 --> 00:10:44.600 Fix your checklist until it's right, 331 00:10:44.600 --> 00:10:46.840 then have them follow it until they get it right. 332 00:10:46.840 --> 00:10:49.360 And once they nail it, you now have a bonafide lead getter 333 00:10:49.360 --> 00:10:50.000 on your payroll. 334 00:10:50.000 --> 00:10:51.760 Congratulations. 335 00:10:51.760 --> 00:10:54.920 Pro tip, give short windows for people to prove themselves. 336 00:10:54.920 --> 00:10:57.200 Most entry level advertising jobs aren't complex. 337 00:10:57.200 --> 00:10:58.720 It takes more grit than skill. 338 00:10:58.720 --> 00:11:00.000 If you train someone properly 339 00:11:00.000 --> 00:11:01.200 and they're still below expectations 340 00:11:01.200 --> 00:11:02.400 in three weeks, cut them. 341 00:11:03.400 --> 00:11:05.120 After you train your first few employees this way, 342 00:11:05.120 --> 00:11:06.800 you'll have worked out the kinks for that job 343 00:11:06.800 --> 00:11:08.880 and it's pretty much smooth sailing from there. 344 00:11:08.880 --> 00:11:10.640 At least the training part anyways. 345 00:11:10.640 --> 00:11:12.160 Think about it like this. 346 00:11:12.160 --> 00:11:13.160 If you vanish tomorrow, 347 00:11:13.160 --> 00:11:14.920 could a stranger get the results you get 348 00:11:14.920 --> 00:11:16.640 if they only follow your checklist? 349 00:11:16.640 --> 00:11:18.960 That's the level of clarity to shoot for. 350 00:11:18.960 --> 00:11:20.960 Some helpful notes on training. 351 00:11:20.960 --> 00:11:22.960 A helpful way to look at this training style is 352 00:11:22.960 --> 00:11:24.720 if they get it wrong or get confused, 353 00:11:24.720 --> 00:11:26.840 then we got it wrong or made it confusing. 354 00:11:26.840 --> 00:11:28.480 If we have to explain what a step means 355 00:11:28.480 --> 00:11:30.520 then the step is too complicated or more likely, 356 00:11:30.520 --> 00:11:32.960 we try to put multiple steps into one. 357 00:11:32.960 --> 00:11:35.360 Next, if they only appear to get it 358 00:11:35.360 --> 00:11:36.840 after a long-ish explanation 359 00:11:36.840 --> 00:11:39.360 or multiple demonstrations, then again, 360 00:11:39.360 --> 00:11:40.560 we've got some work to do. 361 00:11:40.560 --> 00:11:42.600 Business owners that ignore this run into 362 00:11:42.600 --> 00:11:44.760 chronic training problems and word of the wise, 363 00:11:44.760 --> 00:11:47.080 you can probably force an inferior checklist to work, 364 00:11:47.080 --> 00:11:48.560 but this turns into a nightmare 365 00:11:48.560 --> 00:11:51.480 when somebody else takes over your training for you. 366 00:11:51.480 --> 00:11:54.000 Next, there is a difference between competence 367 00:11:54.040 --> 00:11:54.880 and performance. 368 00:11:54.880 --> 00:11:57.360 In other words, they can know exactly what to do 369 00:11:57.360 --> 00:11:58.920 and not be that good at it yet. 370 00:11:58.920 --> 00:12:00.120 And if that's the case, 371 00:12:00.120 --> 00:12:01.520 then your instructions are fine. 372 00:12:01.520 --> 00:12:02.920 They just need to practice. 373 00:12:02.920 --> 00:12:04.640 Using an analogy from the fitness world, 374 00:12:04.640 --> 00:12:07.280 think slow, then smooth, then fast. 375 00:12:07.280 --> 00:12:08.560 You don't need to change anything. 376 00:12:08.560 --> 00:12:09.680 They just need more reps. 377 00:12:10.720 --> 00:12:13.520 Next, focus on your employee's ability 378 00:12:13.520 --> 00:12:15.840 to follow directions more than whether 379 00:12:15.840 --> 00:12:17.760 they got the right result. 380 00:12:17.760 --> 00:12:18.960 This is super important 381 00:12:18.960 --> 00:12:20.040 because if you train your employees 382 00:12:20.040 --> 00:12:22.760 to follow directions, then they will follow directions. 383 00:12:22.800 --> 00:12:24.960 And if they follow directions and get the wrong result, 384 00:12:24.960 --> 00:12:27.280 then you know it's the directions that's good. 385 00:12:27.280 --> 00:12:29.680 You have a lot more control over that. 386 00:12:29.680 --> 00:12:32.240 Next, every time they do a step successfully, 387 00:12:32.240 --> 00:12:33.840 let them know they did it right. 388 00:12:33.840 --> 00:12:36.200 And if they respond to praise, praise them. 389 00:12:36.200 --> 00:12:38.520 And if they goof, that's okay too. 390 00:12:38.520 --> 00:12:40.040 That's what training is for. 391 00:12:40.040 --> 00:12:41.640 Don't take over them when they mess up. 392 00:12:41.640 --> 00:12:44.560 Simply pause, take a step back and let them try again. 393 00:12:44.560 --> 00:12:47.880 Fast feedback cycles get people to learn faster. 394 00:12:47.880 --> 00:12:49.600 If they follow your directions exactly 395 00:12:49.600 --> 00:12:50.680 and get the wrong results, 396 00:12:50.680 --> 00:12:52.400 still praise them for following the directions. 397 00:12:52.400 --> 00:12:54.120 Praise them, then make the corrections 398 00:12:54.120 --> 00:12:56.480 to your checklist on the spot. 399 00:12:56.480 --> 00:12:58.520 Avoid punishment or penalties of any type 400 00:12:58.520 --> 00:13:00.320 for doing the wrong stuff during training. 401 00:13:00.320 --> 00:13:03.000 As a rule of thumb, reward the stuff you want them to do 402 00:13:03.000 --> 00:13:04.840 more of and they'll do more of it. 403 00:13:04.840 --> 00:13:06.760 Learning a new skill is punishing enough. 404 00:13:06.760 --> 00:13:07.960 We don't need to add to it. 405 00:13:08.920 --> 00:13:10.320 It's hard to fix multiple things 406 00:13:10.320 --> 00:13:12.000 when you've never done something before. 407 00:13:12.000 --> 00:13:14.400 Get feedback one step at a time. 408 00:13:14.400 --> 00:13:17.120 Give one piece of feedback at a time. 409 00:13:17.120 --> 00:13:18.480 Practice until they get it right, 410 00:13:18.480 --> 00:13:20.520 then move on to the next step. 411 00:13:20.520 --> 00:13:22.520 Whenever there's a major dip from normal performance 412 00:13:22.520 --> 00:13:23.560 retrain the team, 413 00:13:23.560 --> 00:13:25.600 they stop doing an important step in the process, 414 00:13:25.600 --> 00:13:27.680 often because they didn't know is important. 415 00:13:27.680 --> 00:13:29.080 Once you figure out the step, 416 00:13:29.080 --> 00:13:31.840 reward people for following it going forward. 417 00:13:31.840 --> 00:13:34.560 How to calculate returns from lead getting employees. 418 00:13:34.560 --> 00:13:36.080 Excluding the cost of running paid ads, 419 00:13:36.080 --> 00:13:38.600 the cost of advertising, outreach and content, et cetera, 420 00:13:38.600 --> 00:13:39.840 with employees is almost entirely 421 00:13:39.840 --> 00:13:42.080 the best amount of money you pay them to do it. 422 00:13:42.080 --> 00:13:44.040 We simplify this by comparing how much money 423 00:13:44.040 --> 00:13:45.280 we spend on payroll 424 00:13:45.280 --> 00:13:47.480 to how much money the engage leads they bring in get. 425 00:13:47.480 --> 00:13:49.440 Total payroll divided by total engage leads 426 00:13:49.440 --> 00:13:50.760 equals cost per lead. 427 00:13:50.760 --> 00:13:54.440 Example, $100,000 in payroll divided by $1,000 leads 428 00:13:54.440 --> 00:13:55.960 equals $100 per engage lead. 429 00:13:55.960 --> 00:13:58.600 If one out of 10 engaged leads becomes a customer, 430 00:13:58.600 --> 00:14:02.560 then our CAC is $1,000, $100 per engage lead 431 00:14:02.560 --> 00:14:07.120 times 10 engaged leads per customer equals $1,000 CAC. 432 00:14:07.120 --> 00:14:09.160 If each customer has an LCGP of $4,000, 433 00:14:09.160 --> 00:14:11.680 then you have an LCGP to CAC a 4 to 1, 434 00:14:11.680 --> 00:14:15.400 $4,000 LCGP divided by $1,000 CAC equals 4 to 1. 435 00:14:15.400 --> 00:14:16.960 For example, at the time of the shredding, 436 00:14:16.960 --> 00:14:20.960 I get about 30,000 leads per month at acquisition.com. 437 00:14:20.960 --> 00:14:23.360 I run no paid ads and do no outreach. 438 00:14:23.360 --> 00:14:25.240 But the team responsible for creating the content 439 00:14:25.240 --> 00:14:27.720 that generates that interest is about $100,000 per month. 440 00:14:27.720 --> 00:14:31.720 This means it costs me roughly $3.33 per engage lead, 441 00:14:31.720 --> 00:14:34.120 $100,000 divided by $30,000 leads, 442 00:14:34.120 --> 00:14:35.880 and payroll to generate them. 443 00:14:35.880 --> 00:14:38.840 We make much more than $3.33 per lead, 444 00:14:38.840 --> 00:14:40.080 so we're profitable. 445 00:14:40.080 --> 00:14:41.840 You can apply the same math to whatever advertising 446 00:14:41.840 --> 00:14:43.320 with you use. 447 00:14:43.320 --> 00:14:45.200 How to know which employees to focus on 448 00:14:45.200 --> 00:14:47.240 has maximized returns. 449 00:14:47.240 --> 00:14:49.320 Like we learned in run paid ads part two, 450 00:14:49.320 --> 00:14:50.440 if you're cost to get a customer 451 00:14:50.440 --> 00:14:53.480 is within $3.33 average, then you're doing good enough. 452 00:14:53.480 --> 00:14:56.320 From there, you focus on bumping your LCGP. 453 00:14:56.320 --> 00:14:58.440 If your CAC is more than $3.33 average, 454 00:14:58.440 --> 00:15:00.800 then you have a sales problem or an advertising problem. 455 00:15:00.800 --> 00:15:02.920 We diagnose this with a single question. 456 00:15:02.920 --> 00:15:04.680 Do my engaged leads have the problem I solve 457 00:15:04.680 --> 00:15:05.840 in the money to spend? 458 00:15:05.840 --> 00:15:07.960 If no, then they're not qualified. 459 00:15:07.960 --> 00:15:09.240 That's an advertising problem. 460 00:15:09.240 --> 00:15:12.440 If yes, then they're qualified and they're buying, 461 00:15:12.440 --> 00:15:14.200 but you don't have enough of them, which is an advertising 462 00:15:14.200 --> 00:15:16.120 problem, they're qualified, but not buying, 463 00:15:16.120 --> 00:15:17.600 which is a sales problem. 464 00:15:17.600 --> 00:15:20.240 Don't fire sales guy if you've got an advertising problem. 465 00:15:20.240 --> 00:15:22.120 And equally, don't fire advertising employees 466 00:15:22.120 --> 00:15:23.320 if you got a sales problem. 467 00:15:23.320 --> 00:15:24.720 That little question can help you identify 468 00:15:24.720 --> 00:15:26.040 which employees to focus on. 469 00:15:26.040 --> 00:15:27.920 But fundamentally, you just need to figure out 470 00:15:27.920 --> 00:15:30.160 all your costs of getting a customer put together. 471 00:15:30.160 --> 00:15:31.600 And as long as they're at least one-third 472 00:15:31.600 --> 00:15:32.840 of the profit you make over the lifetime, 473 00:15:32.840 --> 00:15:34.120 you're in good shape. 474 00:15:34.120 --> 00:15:35.360 Conclusion. 475 00:15:35.360 --> 00:15:37.640 The goal of this chapter was to shift your perspective. 476 00:15:37.640 --> 00:15:39.320 It's your job to advertise and sell 477 00:15:39.320 --> 00:15:40.440 the vision of your company. 478 00:15:40.440 --> 00:15:42.200 You advertise it publicly and privately 479 00:15:42.200 --> 00:15:43.680 to employees and customers alike. 480 00:15:43.680 --> 00:15:44.760 That's the job. 481 00:15:44.760 --> 00:15:46.960 And once you get good at it, become unstoppable. 482 00:15:46.960 --> 00:15:48.800 I say this because I believe anyone can be taught 483 00:15:48.800 --> 00:15:50.280 to do ground level jobs for any business, 484 00:15:50.280 --> 00:15:51.600 advertising or otherwise. 485 00:15:51.600 --> 00:15:52.920 So who you pick is not as important 486 00:15:52.920 --> 00:15:54.600 as how you train the ones you do. 487 00:15:54.600 --> 00:15:55.680 Like I've said throughout the book, 488 00:15:55.680 --> 00:15:57.680 and we'll say again here, it doesn't take a genius 489 00:15:57.680 --> 00:15:58.520 to advertise. 490 00:15:58.520 --> 00:15:59.640 I'd even say it hurts. 491 00:15:59.640 --> 00:16:01.400 We've got plenty more iron wills 492 00:16:01.400 --> 00:16:02.480 than Brainiacs anyways. 493 00:16:02.480 --> 00:16:04.800 Remember, this isn't about brains, the buck guts. 494 00:16:04.800 --> 00:16:06.720 And although some people might be born geniuses, 495 00:16:06.720 --> 00:16:08.520 nobody is born with an iron will. 496 00:16:08.520 --> 00:16:10.600 After all, we all come out crybabies. 497 00:16:10.600 --> 00:16:13.080 All this to say, having guts is a skill. 498 00:16:13.120 --> 00:16:16.200 And that means anyone can have guts if they learn how. 499 00:16:16.200 --> 00:16:17.640 So if you have an iron will, 500 00:16:17.640 --> 00:16:19.120 and as an entrepreneur you probably do, 501 00:16:19.120 --> 00:16:20.760 it won't take long for you to figure out 502 00:16:20.760 --> 00:16:22.840 that you got it from your life experiences. 503 00:16:22.840 --> 00:16:24.680 You can pass those experiences on as lessons 504 00:16:24.680 --> 00:16:26.320 to anyone who cares enough to listen. 505 00:16:26.320 --> 00:16:27.640 Then they can stand on your shoulders 506 00:16:27.640 --> 00:16:29.720 and have a better chance at succeeding in life. 507 00:16:29.720 --> 00:16:31.560 And you can't really know anything anyway 508 00:16:31.560 --> 00:16:32.880 until you train them well 509 00:16:32.880 --> 00:16:34.000 and give them a fighting chance 510 00:16:34.000 --> 00:16:35.560 to succeed out in the field. 511 00:16:35.560 --> 00:16:37.760 Plus, for low level jobs, you'll never have 512 00:16:37.760 --> 00:16:38.920 a shortage of labor. 513 00:16:38.920 --> 00:16:40.960 Get picky when you have to make massive investments 514 00:16:40.960 --> 00:16:44.200 in hyper-specific multiple six-figure C-suite employees, et cetera. 515 00:16:44.200 --> 00:16:46.480 AKA fancy employees. 516 00:16:46.480 --> 00:16:47.880 I find at this current stage, 517 00:16:47.880 --> 00:16:49.080 it's actually better use of time 518 00:16:49.080 --> 00:16:50.800 to hire a train at anyone willing. 519 00:16:50.800 --> 00:16:53.720 Then when you find winners and with this method you will, 520 00:16:53.720 --> 00:16:55.320 treat them well, don't burn them out 521 00:16:55.320 --> 00:16:56.920 and give them what they deserve. 522 00:16:56.920 --> 00:16:59.480 In the land of overflowing leads, you'll need allies. 523 00:16:59.480 --> 00:17:02.240 Employees are among the most powerful of these allies. 524 00:17:02.240 --> 00:17:03.760 We talked about how they make you wealthy, 525 00:17:03.760 --> 00:17:06.840 how they work, how getting them works, how to get them, 526 00:17:06.840 --> 00:17:08.880 how to get them getting you leads, 527 00:17:08.880 --> 00:17:10.480 how to keep them getting you leads, 528 00:17:10.480 --> 00:17:12.840 and how to know they're doing a good job. 529 00:17:12.840 --> 00:17:14.120 And once you build a system for getting people 530 00:17:14.120 --> 00:17:16.400 who get you leads doing the core four on your behalf, 531 00:17:16.400 --> 00:17:18.960 you just need to do more. 532 00:17:18.960 --> 00:17:21.640 Author note, a word on fancy employees. 533 00:17:21.640 --> 00:17:25.120 I explicitly left out recruiting director level and up employees 534 00:17:25.120 --> 00:17:27.880 because you can easily qualify for acquisition.com without them. 535 00:17:27.880 --> 00:17:29.640 And once you do become a portfolio company, 536 00:17:29.640 --> 00:17:31.440 we'll do it for you. 537 00:17:31.440 --> 00:17:32.880 The next lead getter. 538 00:17:32.880 --> 00:17:35.880 The next stop on our advertising journey leads us to agencies. 539 00:17:35.880 --> 00:17:38.200 Yes, you can pay people to shortcut your path. 540 00:17:38.200 --> 00:17:40.200 I have paid zillions of dollars to agencies 541 00:17:40.200 --> 00:17:42.160 and I believe I finally cracked the code 542 00:17:42.160 --> 00:17:44.360 on how to create a win for all parties. 543 00:17:44.360 --> 00:17:46.760 For us, so we're not dependent on them forever, 544 00:17:46.760 --> 00:17:48.320 for them so they can make more profit 545 00:17:48.320 --> 00:17:50.200 and provide more value to their customers. 546 00:17:50.200 --> 00:17:51.960 They've been key to many breakthroughs I've had 547 00:17:51.960 --> 00:17:54.360 so you won't want to skip this next one. 548 00:17:54.360 --> 00:17:58.120 Free gift, build or buy, the talent roadmap. 549 00:17:58.120 --> 00:18:00.000 The longer I do business, the more I ask who, 550 00:18:00.000 --> 00:18:01.360 over what and how. 551 00:18:01.360 --> 00:18:03.640 This training may be one of the most tactical and important 552 00:18:03.640 --> 00:18:06.560 because no matter what you build, you're gonna need help. 553 00:18:06.560 --> 00:18:08.520 Since it's so important, I made a training 554 00:18:08.520 --> 00:18:10.440 outlining this content in more depth 555 00:18:10.440 --> 00:18:11.520 with some downloads, et cetera. 556 00:18:11.520 --> 00:18:13.160 You can watch it free at acquisition.com 557 00:18:13.160 --> 00:18:14.960 for slash training slash leads. 558 00:18:14.960 --> 00:18:19.320 Hey, I hope you're enjoying the book chapter 559 00:18:19.320 --> 00:18:21.400 that you listen to right now of $100 million leads. 560 00:18:21.400 --> 00:18:24.120 I took a long time putting together for you. 561 00:18:24.120 --> 00:18:26.920 And so my only ask is that you just take a quick second 562 00:18:26.920 --> 00:18:29.760 and leave a review for the book on Amazon. 563 00:18:29.760 --> 00:18:32.880 It's the number one way that people find books. 564 00:18:32.880 --> 00:18:34.880 And this is a way of getting more people into our world. 565 00:18:34.880 --> 00:18:38.200 And so our mission acquisition.com is to make real business, 566 00:18:38.200 --> 00:18:39.880 education accessible to everyone. 567 00:18:39.880 --> 00:18:41.200 And I need your help. 568 00:18:41.200 --> 00:18:44.960 And so if you could do that just that one small action 569 00:18:44.960 --> 00:18:46.280 and it has a trade for the two years 570 00:18:46.280 --> 00:18:48.040 that I took putting this book together for you, 571 00:18:48.040 --> 00:18:49.120 I would mean the world to me. 572 00:18:49.120 --> 00:18:50.120 So thank you. 573 00:18:51.240 --> 00:18:53.800 Agencies, everything is for sale. 574 00:18:53.800 --> 00:18:56.560 Summer 2016, I wasn't a techie guy. 575 00:18:56.560 --> 00:18:58.280 I was a fitness guy who would learn a few marketing 576 00:18:58.280 --> 00:18:59.920 and sales tricks building my gyms. 577 00:18:59.920 --> 00:19:02.440 But now I had five and I was launching my six. 578 00:19:02.440 --> 00:19:03.760 It was time to level up. 579 00:19:03.800 --> 00:19:05.440 Facebook had just released some new features. 580 00:19:05.440 --> 00:19:07.720 Retargeting, interest groups, pixels, et cetera. 581 00:19:07.720 --> 00:19:09.400 And I didn't understand any of it. 582 00:19:09.400 --> 00:19:11.200 I bought a few courses but ended up more confused 583 00:19:11.200 --> 00:19:12.440 than when I started. 584 00:19:12.440 --> 00:19:14.520 I asked a few friends if they knew anyone who could help. 585 00:19:14.520 --> 00:19:16.880 I got two referrals, both were agencies. 586 00:19:16.880 --> 00:19:17.680 I was scared. 587 00:19:17.680 --> 00:19:19.280 I'd never used one before. 588 00:19:19.280 --> 00:19:21.800 I'd only ever heard horror stories about advertising agencies. 589 00:19:21.800 --> 00:19:24.000 Mostly that they cost a ton and never work. 590 00:19:24.000 --> 00:19:25.760 But then I realized that even if they did work, 591 00:19:25.760 --> 00:19:26.960 I'd meet them forever. 592 00:19:26.960 --> 00:19:28.680 They'd have my business by the balls. 593 00:19:28.680 --> 00:19:31.000 It turns out my expectations weren't far off. 594 00:19:31.000 --> 00:19:33.920 They offered to run my ads all right for an arm in the leg. 595 00:19:33.920 --> 00:19:36.040 Money I couldn't justify spending with my low margins. 596 00:19:36.040 --> 00:19:38.680 But then again, my advertising costs were killing me. 597 00:19:38.680 --> 00:19:39.920 And at this rate in a few months, 598 00:19:39.920 --> 00:19:42.400 I wouldn't be able to keep my doors open, stressful. 599 00:19:42.400 --> 00:19:44.320 I refused the first agent because I couldn't afford it 600 00:19:44.320 --> 00:19:45.240 at the time. 601 00:19:45.240 --> 00:19:46.840 The second call started going the same way. 602 00:19:46.840 --> 00:19:47.680 I began to panic. 603 00:19:47.680 --> 00:19:49.320 How am I going to fix this? 604 00:19:49.320 --> 00:19:51.800 In what felt like a last-age effort to stay in business, 605 00:19:51.800 --> 00:19:54.400 I asked the second agency owner for what I really wanted. 606 00:19:54.400 --> 00:19:55.640 Can you just show me in a few hours 607 00:19:55.640 --> 00:19:57.480 how you'd run my ads on my account? 608 00:19:57.480 --> 00:19:58.880 No, you fired back. 609 00:19:58.880 --> 00:20:00.640 My time's not for sale. 610 00:20:00.640 --> 00:20:02.400 Worried, but still hopeful. 611 00:20:02.400 --> 00:20:04.800 What sort of arrangement could we come to? 612 00:20:04.800 --> 00:20:05.800 He thought for a moment, 613 00:20:05.800 --> 00:20:08.320 then his eyebrows shot up and a smirk appeared. 614 00:20:08.320 --> 00:20:11.480 Fine, 7.15 hour, gulp. 615 00:20:11.480 --> 00:20:13.520 His intimidation tactic worked. 616 00:20:13.520 --> 00:20:15.600 But at least I knew his time was for sale, 617 00:20:15.600 --> 00:20:17.160 so I wanted to find out more. 618 00:20:17.160 --> 00:20:19.960 And for 7.15 hour, you will sit down with me 619 00:20:19.960 --> 00:20:24.280 and show me how you would run my ads, yes. 620 00:20:24.280 --> 00:20:25.800 And I'd be the one doing everything. 621 00:20:25.800 --> 00:20:27.800 Like, you'll walk me through what to do 622 00:20:27.800 --> 00:20:29.120 and look over my shoulder as I do it 623 00:20:29.120 --> 00:20:31.400 and then you'll explain why you do it that way. 624 00:20:31.400 --> 00:20:34.800 Yeah, and you're confident you can make my ads more profitable 625 00:20:34.800 --> 00:20:37.360 and show me the more advanced stuff, right? 626 00:20:37.360 --> 00:20:39.760 Yeah, I mean, if you want to pay me 7.15 hour, 627 00:20:39.760 --> 00:20:40.600 we can do whatever you want. 628 00:20:40.600 --> 00:20:42.120 It's your money. 629 00:20:42.120 --> 00:20:43.640 He said half laughing. 630 00:20:43.640 --> 00:20:46.000 It sounded more like it's your funeral. 631 00:20:46.000 --> 00:20:47.160 I paused. 632 00:20:47.160 --> 00:20:48.520 All right, I'll do it. 633 00:20:48.520 --> 00:20:49.880 We'll meet one hour a week. 634 00:20:49.880 --> 00:20:52.000 You give me homework and I'll study between calls. 635 00:20:52.000 --> 00:20:53.200 Fair enough? 636 00:20:53.200 --> 00:20:54.120 Works for me. 637 00:20:54.120 --> 00:20:56.320 You got to pay the first four hours upfront. 638 00:20:56.320 --> 00:20:57.520 So that's what I did. 639 00:20:57.520 --> 00:20:59.720 I placed a $3,000 bet on this guy's word 640 00:20:59.720 --> 00:21:02.000 that he knew what he was doing, yikes. 641 00:21:02.000 --> 00:21:04.200 But every week thereafter, I showed up. 642 00:21:04.200 --> 00:21:06.920 And like a good student, I came with notes and questions ready. 643 00:21:06.920 --> 00:21:08.880 I also recorded and rewashed every call 644 00:21:08.880 --> 00:21:10.280 because I didn't want to miss anything. 645 00:21:10.280 --> 00:21:12.880 The first two calls, he took the wheel and I watched. 646 00:21:12.880 --> 00:21:15.360 Calls three and four, he put me in the driver's seat. 647 00:21:15.360 --> 00:21:17.480 By calls five and six, it clicked. 648 00:21:17.480 --> 00:21:19.720 I got how he made decisions and what data he tracked. 649 00:21:19.720 --> 00:21:21.240 At seven and eight, I realized 650 00:21:21.240 --> 00:21:22.640 I didn't need his help anymore. 651 00:21:22.640 --> 00:21:24.020 I had learned how to run paid ads 652 00:21:24.020 --> 00:21:25.880 at least on Facebook like a pro. 653 00:21:25.880 --> 00:21:27.720 And if I had to make a guess, it was 654 00:21:27.720 --> 00:21:29.800 because I learned it from a pro. 655 00:21:29.800 --> 00:21:31.840 In this chapter, we explore a not so obvious, 656 00:21:31.840 --> 00:21:34.840 but much better way to use agencies to get more leads. 657 00:21:34.840 --> 00:21:36.680 Let's get cranking. 658 00:21:36.680 --> 00:21:39.600 How agencies want you to think they work? 659 00:21:39.600 --> 00:21:42.200 Advertising agencies are lead getting service businesses. 660 00:21:42.200 --> 00:21:44.160 You pay them to run ads, do outreach, 661 00:21:44.160 --> 00:21:45.920 or package and distribute content. 662 00:21:45.920 --> 00:21:48.480 For example, let's say you want to post free video content, 663 00:21:48.480 --> 00:21:50.080 but you know nothing about making video content 664 00:21:50.080 --> 00:21:51.280 or how to distribute it. 665 00:21:51.280 --> 00:21:52.880 You need to learn how to pick video topics, 666 00:21:52.880 --> 00:21:54.920 record videos, edit videos, make thumbnail images, 667 00:21:54.920 --> 00:21:56.080 and write headlines. 668 00:21:56.080 --> 00:21:59.000 Or you need to hire people who do, enter the agency. 669 00:21:59.000 --> 00:22:00.400 They say they've hired and trained people 670 00:22:00.400 --> 00:22:02.760 to do that stuff already, so they promise faster, 671 00:22:02.760 --> 00:22:04.320 better, and more cost efficient results 672 00:22:04.320 --> 00:22:05.560 than you could get on your own. 673 00:22:05.560 --> 00:22:06.880 And as soon as I had enough money, 674 00:22:06.880 --> 00:22:08.440 it felt compelling enough. 675 00:22:08.440 --> 00:22:10.040 After my first experience with an agency 676 00:22:10.040 --> 00:22:11.920 that I mentioned earlier went quite well, 677 00:22:11.920 --> 00:22:13.320 I decided to use more. 678 00:22:13.320 --> 00:22:15.360 But my experience with the next 10 plus agencies 679 00:22:15.360 --> 00:22:18.040 was different because I used them, quote, the right way. 680 00:22:18.040 --> 00:22:19.720 Each went something like this. 681 00:22:19.720 --> 00:22:21.920 Step one, they got me excited about all the new leads 682 00:22:21.960 --> 00:22:22.560 they would bring. 683 00:22:22.560 --> 00:22:24.840 Step two, I'd go through an onboarding process 684 00:22:24.840 --> 00:22:26.840 that felt valuable, and sometimes was. 685 00:22:26.840 --> 00:22:30.040 Step three, they assigned their best senior up to my account. 686 00:22:30.040 --> 00:22:31.920 Step four, I saw some results. 687 00:22:31.920 --> 00:22:34.520 Step five, they moved my senior up to the newest customer. 688 00:22:34.520 --> 00:22:37.200 Step six, a junior up starts managing my account. 689 00:22:37.200 --> 00:22:38.440 My results suffered. 690 00:22:38.440 --> 00:22:40.160 Step seven, I complained. 691 00:22:40.160 --> 00:22:42.280 Step eight, the senior up would come back once in a while 692 00:22:42.280 --> 00:22:43.360 to make me feel better. 693 00:22:43.360 --> 00:22:46.960 Step nine, results still suffered, and I eventually canceled. 694 00:22:46.960 --> 00:22:48.960 Step 10, I had searched for another agency 695 00:22:48.960 --> 00:22:50.880 and repeat the cycle of insanity. 696 00:22:50.880 --> 00:22:52.560 Step 11, for the zillionth time, 697 00:22:52.560 --> 00:22:55.400 start wondering why I wasn't getting results like the first time. 698 00:22:55.400 --> 00:22:57.960 To be clear, like the introduction of this chapter shows, 699 00:22:57.960 --> 00:23:00.920 agencies can play a valuable role in business growth, 700 00:23:00.920 --> 00:23:02.600 but not the way they want you to. 701 00:23:02.600 --> 00:23:04.480 I don't want anyone else falling into the same trap. 702 00:23:04.480 --> 00:23:06.000 In fact, I hope all the money I wasted 703 00:23:06.000 --> 00:23:08.480 goes towards paying down your ignorance debt too. 704 00:23:08.480 --> 00:23:09.800 So keep reading. 705 00:23:09.800 --> 00:23:11.720 It's frankly ridiculous it took me so many years 706 00:23:11.720 --> 00:23:13.520 to figure this out that I actually used an agency 707 00:23:13.520 --> 00:23:15.080 the right way the first time. 708 00:23:15.080 --> 00:23:16.760 But now, after playing their game so many times, 709 00:23:16.760 --> 00:23:19.320 I feel I cracked the how to use an agency code. 710 00:23:19.320 --> 00:23:21.120 And it doesn't come from playing their game at all. 711 00:23:21.120 --> 00:23:22.560 It comes from playing a different one. 712 00:23:22.560 --> 00:23:25.320 And this chapter breaks it all down in three steps. 713 00:23:25.320 --> 00:23:28.200 Number one, hiring an agency versus doing yourself, 714 00:23:28.200 --> 00:23:30.960 two, how I use the agencies now and how you can too, 715 00:23:30.960 --> 00:23:33.640 three, how to pick the right agency. 716 00:23:33.640 --> 00:23:35.800 Hiring an agency versus doing yourself. 717 00:23:35.800 --> 00:23:37.360 First, let's get this out of the way. 718 00:23:37.360 --> 00:23:39.000 Good agencies cost money. 719 00:23:39.000 --> 00:23:41.640 So if you have no money, then agencies are out of the question. 720 00:23:41.640 --> 00:23:42.800 You got to learn through trial and error, 721 00:23:42.800 --> 00:23:43.680 and that's no big deal. 722 00:23:43.680 --> 00:23:45.040 We all start that way. 723 00:23:45.040 --> 00:23:46.160 But if you do have some money, 724 00:23:46.160 --> 00:23:48.240 I suggest using agencies for two things. 725 00:23:48.240 --> 00:23:50.760 Learning new methods and learning new platforms. 726 00:23:50.760 --> 00:23:52.800 If I want to learn new ways to do content, 727 00:23:52.800 --> 00:23:53.720 outreach, or paid ads, 728 00:23:53.720 --> 00:23:56.360 then I hire agencies offering new ways to do them. 729 00:23:56.360 --> 00:23:58.040 They've already made the big mistakes. 730 00:23:58.040 --> 00:24:00.120 So instead of wasting time figuring out myself, 731 00:24:00.120 --> 00:24:01.960 I skip straight to the make money part. 732 00:24:01.960 --> 00:24:03.640 I like the make money part. 733 00:24:03.640 --> 00:24:05.640 I also use agencies when I will start advertising 734 00:24:05.640 --> 00:24:07.480 on a new platform I don't understand. 735 00:24:07.480 --> 00:24:09.760 I make money faster because they do the early setup 736 00:24:09.760 --> 00:24:11.480 and maintenance for me and because I get them 737 00:24:11.480 --> 00:24:12.960 to teach me how to do it. 738 00:24:12.960 --> 00:24:15.880 Hiring an agency is all about investing in important skills. 739 00:24:15.880 --> 00:24:17.840 You can't really learn anywhere else. 740 00:24:17.840 --> 00:24:19.560 That is, unless you go through all the trial 741 00:24:19.560 --> 00:24:21.080 and error to learn it yourself. 742 00:24:21.080 --> 00:24:23.160 And if you did, you lose the time and attention 743 00:24:23.160 --> 00:24:25.200 you could have used to learn other important stuff 744 00:24:25.200 --> 00:24:26.440 that scales your business. 745 00:24:26.440 --> 00:24:28.640 And scaling your business is the whole point. 746 00:24:28.640 --> 00:24:29.600 Action step. 747 00:24:29.600 --> 00:24:31.320 As soon as you have enough money for a good agency, 748 00:24:31.320 --> 00:24:32.880 start poking around. 749 00:24:32.880 --> 00:24:34.560 If you follow the rest of the steps in this chapter, 750 00:24:34.560 --> 00:24:37.080 you'll make it all back and then some. 751 00:24:37.080 --> 00:24:39.640 How I use agencies now and how you can too. 752 00:24:39.640 --> 00:24:40.920 I've become a little more sophisticated 753 00:24:40.920 --> 00:24:42.560 than the story I told up at the beginning. 754 00:24:42.560 --> 00:24:44.440 Here's how I use agencies now. 755 00:24:44.440 --> 00:24:45.880 Rather than believe the lie, 756 00:24:45.880 --> 00:24:47.000 I'll never have to learn the stuff 757 00:24:47.000 --> 00:24:48.240 because they can do it. 758 00:24:48.240 --> 00:24:50.120 I start every agency relationship with a purpose 759 00:24:50.120 --> 00:24:51.520 and a deadline to fulfill it. 760 00:24:51.520 --> 00:24:54.960 I open by saying, I want to do what you do in my business 761 00:24:54.960 --> 00:24:56.160 but I don't know how. 762 00:24:56.160 --> 00:24:57.920 I'd like to work with you for six months 763 00:24:57.920 --> 00:24:59.360 so I can learn how you do it. 764 00:24:59.360 --> 00:25:01.200 Plus, I'll pay extra for you to break down 765 00:25:01.200 --> 00:25:02.520 why you make the decisions you do 766 00:25:02.520 --> 00:25:04.080 and the steps you take to make them. 767 00:25:04.080 --> 00:25:05.840 Then, after I get a good idea of how it all works, 768 00:25:05.840 --> 00:25:07.160 I'll start training my team on it. 769 00:25:07.160 --> 00:25:08.200 And once they can do it well enough, 770 00:25:08.200 --> 00:25:10.320 I'd like to change to a lower cost consulting arrangement. 771 00:25:10.320 --> 00:25:12.600 This way you can still help us if we run into problems. 772 00:25:12.600 --> 00:25:13.680 Are you opposed to this? 773 00:25:14.120 --> 00:25:17.720 In my experience, most agencies are not opposed to this. 774 00:25:17.720 --> 00:25:20.120 And if it doesn't work for them, that's perfectly fine. 775 00:25:20.120 --> 00:25:21.760 Just move on to the next agency. 776 00:25:21.760 --> 00:25:24.000 But before you start kicking everyone to the curb, 777 00:25:24.000 --> 00:25:25.000 be willing to negotiate. 778 00:25:25.000 --> 00:25:27.040 At some price, it's worth it for your both. 779 00:25:27.040 --> 00:25:28.840 Viva Capitalism. 780 00:25:28.840 --> 00:25:30.840 This is how I use agencies now. 781 00:25:30.840 --> 00:25:32.280 Like when I wanted to learn YouTube, 782 00:25:32.280 --> 00:25:34.120 I actually hired two agencies. 783 00:25:34.120 --> 00:25:36.600 The first, I hired to keep me committed to making videos 784 00:25:36.600 --> 00:25:38.800 while they did some legwork on the platform itself. 785 00:25:38.800 --> 00:25:41.000 The second, I hired at four times the price 786 00:25:41.000 --> 00:25:42.760 to really teach us the in-depth ideas 787 00:25:42.760 --> 00:25:44.400 behind making the best content possible. 788 00:25:44.400 --> 00:25:46.680 And once our videos beat their videos, 789 00:25:46.680 --> 00:25:48.480 we drop down to consulting only. 790 00:25:48.480 --> 00:25:50.400 I've used this method again and again. 791 00:25:50.400 --> 00:25:52.320 I hire one good enough agency to learn 792 00:25:52.320 --> 00:25:53.560 the ropes of a new platform. 793 00:25:53.560 --> 00:25:56.200 Then I hire a more elite agency to learn how to maximize it. 794 00:25:56.200 --> 00:25:58.080 And I cannot recommend this strategy enough. 795 00:25:58.080 --> 00:25:59.560 If you are upfront about your intentions 796 00:25:59.560 --> 00:26:02.000 and the agency agrees, you get the best of both worlds. 797 00:26:02.000 --> 00:26:03.280 You get better short-term results 798 00:26:03.280 --> 00:26:04.760 because they probably know more than you. 799 00:26:04.760 --> 00:26:05.960 And you get better long-term results 800 00:26:05.960 --> 00:26:07.360 because you learn how to do it yourself 801 00:26:07.360 --> 00:26:08.920 or your team learns to do it for you. 802 00:26:08.920 --> 00:26:10.840 You also spend the maximum amount of time 803 00:26:10.840 --> 00:26:12.080 with their best reps. 804 00:26:12.080 --> 00:26:15.040 Remember, you only get a fraction of the agency's attention. 805 00:26:15.040 --> 00:26:17.360 So results get worse whenever they get new clients. 806 00:26:17.360 --> 00:26:18.920 Meanwhile, your team gets better and better 807 00:26:18.920 --> 00:26:20.960 because they stay focused on you full time. 808 00:26:20.960 --> 00:26:22.320 So compare your team's results 809 00:26:22.320 --> 00:26:24.000 with the agencies until you beat them. 810 00:26:24.000 --> 00:26:25.840 Then cancel the relationship and put the money 811 00:26:25.840 --> 00:26:27.720 into scaling everything you just learned. 812 00:26:27.720 --> 00:26:28.560 Action step. 813 00:26:28.560 --> 00:26:31.440 When you find an agency to work with next step, 814 00:26:31.440 --> 00:26:34.080 set terms with them and deadlines for yourself. 815 00:26:34.080 --> 00:26:36.080 Use the template above as your guide 816 00:26:36.080 --> 00:26:38.920 and feel okay with negotiating a bit to make it work. 817 00:26:38.920 --> 00:26:41.760 Author note, yes, there's a place for agencies. 818 00:26:41.760 --> 00:26:43.800 To be clear, I still own equity 819 00:26:43.800 --> 00:26:45.280 in an agency software, Alan. 820 00:26:45.280 --> 00:26:46.720 So I'm not against agencies. 821 00:26:46.720 --> 00:26:48.920 I just share how I've had the most success with them. 822 00:26:48.920 --> 00:26:51.360 Are there massive companies that use huge ad agencies? 823 00:26:51.360 --> 00:26:53.760 Sure, they're not who I'm writing this for. 824 00:26:53.760 --> 00:26:56.720 For most people, spending 10, 50 or $100,000 825 00:26:56.720 --> 00:26:58.760 on an agency is a significant cost. 826 00:26:58.760 --> 00:27:00.760 So this is how I've gotten the best return 827 00:27:00.760 --> 00:27:01.760 for working with them. 828 00:27:01.760 --> 00:27:03.640 Also, some people never want to learn. 829 00:27:03.640 --> 00:27:05.520 And for those people, agencies are great. 830 00:27:05.520 --> 00:27:06.960 I personally always want to learn 831 00:27:06.960 --> 00:27:09.240 which is why I use agencies this way. 832 00:27:09.240 --> 00:27:11.000 How to pick the right agency? 833 00:27:11.000 --> 00:27:12.720 After working with tons of bad agencies 834 00:27:12.720 --> 00:27:13.640 and a handful of good ones, 835 00:27:13.640 --> 00:27:16.040 I created a list of what all the good ones had in common. 836 00:27:16.040 --> 00:27:18.880 Now, this isn't the last word on what makes a good agency, 837 00:27:18.880 --> 00:27:21.000 but it is useful stuff that worked for me. 838 00:27:21.000 --> 00:27:22.320 Here's what I look for. 839 00:27:22.320 --> 00:27:25.880 One, somebody I know got good results working with them. 840 00:27:25.880 --> 00:27:27.320 If you only know about an agency 841 00:27:27.320 --> 00:27:28.560 from their paid ads or quote outreach, 842 00:27:28.560 --> 00:27:29.960 they probably own as good as the ones 843 00:27:29.960 --> 00:27:32.960 you rely solely on word of mouth and the best ones do. 844 00:27:32.960 --> 00:27:36.720 Two, prominent companies got good results working with them. 845 00:27:36.720 --> 00:27:38.040 I may not know the companies personally, 846 00:27:38.040 --> 00:27:40.120 but if I recognize them, that's a good sign. 847 00:27:40.120 --> 00:27:41.600 Three, a waiting list. 848 00:27:41.600 --> 00:27:43.440 When demand for service exceeds the supply, 849 00:27:43.440 --> 00:27:44.800 they're probably pretty good. 850 00:27:44.800 --> 00:27:47.480 Four, a clear sales process that makes a point 851 00:27:47.480 --> 00:27:50.440 to set realistic expectations, no funny business. 852 00:27:50.440 --> 00:27:52.800 Five, no short-term hacks. 853 00:27:52.800 --> 00:27:54.840 They keep the talk on long-term strategy. 854 00:27:54.840 --> 00:27:56.640 They also give clear timelines for setup, 855 00:27:56.640 --> 00:27:58.000 scaling, and results. 856 00:27:58.000 --> 00:28:00.400 Six, they tell me exactly what they need for me 857 00:28:00.400 --> 00:28:02.520 when they need it and how they use it. 858 00:28:02.520 --> 00:28:05.880 Seven, they suggest a regular schedule of meetings 859 00:28:05.880 --> 00:28:08.560 and offer several ways to update me on their progress. 860 00:28:08.600 --> 00:28:11.120 Eight, they give updates in simple terms 861 00:28:11.120 --> 00:28:12.320 and have clear ways to track 862 00:28:12.320 --> 00:28:14.720 so I know how costs compare with results. 863 00:28:14.720 --> 00:28:17.040 Nine, they make a good offer. 864 00:28:17.040 --> 00:28:19.560 Three, Malcolm, what is the promise that I want? 865 00:28:19.560 --> 00:28:20.680 Perceive likelihood of achievement, 866 00:28:20.680 --> 00:28:23.000 how many other people like me have they gotten there? 867 00:28:23.000 --> 00:28:25.080 See time delay, how long will it take? 868 00:28:25.080 --> 00:28:28.200 D, Everton sacrifice, what do they require for me to do 869 00:28:28.200 --> 00:28:29.520 when working with them? 870 00:28:29.520 --> 00:28:30.680 What will I have to give up? 871 00:28:30.680 --> 00:28:32.920 Can I stick with those for a long time? 872 00:28:32.920 --> 00:28:35.240 Ten, they are expensive. 873 00:28:35.240 --> 00:28:36.720 All good agencies are expensive, 874 00:28:36.720 --> 00:28:38.960 but not all expensive agencies are good. 875 00:28:38.960 --> 00:28:40.680 So talk with as many as it takes 876 00:28:40.680 --> 00:28:43.160 and use this list as a guide to find the good ones. 877 00:28:43.160 --> 00:28:45.760 If an agency checks those boxes, they're worth considering. 878 00:28:46.680 --> 00:28:48.680 Pro tip, talk to more agencies 879 00:28:48.680 --> 00:28:50.120 to become a better customer. 880 00:28:50.120 --> 00:28:51.880 Being an informed customer helps everyone. 881 00:28:51.880 --> 00:28:53.880 So before you buy, get informed. 882 00:28:53.880 --> 00:28:55.800 Talk to five or 10 agencies to learn how they work. 883 00:28:55.800 --> 00:28:57.440 At first, you'll learn a bunch of new stuff, 884 00:28:57.440 --> 00:28:59.080 but over time, the difference between the better ones 885 00:28:59.080 --> 00:29:00.640 and the worst ones will become obvious. 886 00:29:00.640 --> 00:29:02.960 Now, you can make a more informed decision. 887 00:29:02.960 --> 00:29:04.720 If the agency doesn't meet my needs, 888 00:29:04.720 --> 00:29:05.600 but I like the people, 889 00:29:05.600 --> 00:29:07.600 I'll ask them to refer me to another agency. 890 00:29:07.600 --> 00:29:09.600 A good agency offering one specialty 891 00:29:09.600 --> 00:29:11.080 will send you to other good agencies 892 00:29:11.080 --> 00:29:12.520 who offer the one you want. 893 00:29:12.520 --> 00:29:14.320 Those are some of my favorite referrals. 894 00:29:15.480 --> 00:29:16.480 Action step. 895 00:29:16.480 --> 00:29:18.200 Even if an agency agrees to your terms, 896 00:29:18.200 --> 00:29:20.560 talk with a few more before you make a decision. 897 00:29:20.560 --> 00:29:22.360 Compare them with the checklist above 898 00:29:22.360 --> 00:29:24.080 and then pick the best one for you. 899 00:29:24.080 --> 00:29:28.120 Conclusion, even though this isn't the traditional agency model, 900 00:29:28.120 --> 00:29:29.520 both businesses benefit. 901 00:29:29.520 --> 00:29:31.320 They get a customer they otherwise wouldn't have 902 00:29:31.320 --> 00:29:33.200 and we get a money-making skill for life. 903 00:29:33.200 --> 00:29:34.640 In the story at the beginning of the chapter, 904 00:29:34.640 --> 00:29:36.360 it cost me eight hours and 6,000 dollars 905 00:29:36.360 --> 00:29:38.200 to learn a skill that's made me millions. 906 00:29:38.200 --> 00:29:39.600 Does that seem worth it to you? 907 00:29:39.600 --> 00:29:40.440 It better. 908 00:29:40.440 --> 00:29:42.640 And to make this agency method work at scale, 909 00:29:42.640 --> 00:29:44.600 you have to count on a good amount of time 910 00:29:44.600 --> 00:29:46.320 where you pay the agency and your team 911 00:29:46.320 --> 00:29:47.640 to do the same stuff. 912 00:29:47.640 --> 00:29:49.160 You've got to give yourself some breathing room 913 00:29:49.160 --> 00:29:50.400 to get results from the agency, 914 00:29:50.400 --> 00:29:53.400 learn what they do, and train your team on it all at once. 915 00:29:53.400 --> 00:29:55.040 Yes, it costs a lot of money. 916 00:29:55.040 --> 00:29:57.440 And yes, it's totally worth it when you get it right 917 00:29:57.440 --> 00:29:59.080 and get it right you can. 918 00:29:59.080 --> 00:30:01.360 After agencies put a low-level employee on my account 919 00:30:01.360 --> 00:30:03.320 for the millionth time, it finally clicked. 920 00:30:03.320 --> 00:30:05.000 This can't be that hard. 921 00:30:05.000 --> 00:30:06.840 At first, it took me about a year to get my team 922 00:30:06.840 --> 00:30:08.000 better than an agency. 923 00:30:08.000 --> 00:30:10.000 As I got better, it went down to 10 months, 924 00:30:10.000 --> 00:30:11.560 then eight, and now I've got it down. 925 00:30:11.560 --> 00:30:13.400 I can get my team as good or better than an agency 926 00:30:13.400 --> 00:30:15.040 in six months or less. 927 00:30:15.040 --> 00:30:17.200 And every time I want to learn a new method or platform, 928 00:30:17.200 --> 00:30:18.520 I repeat the process. 929 00:30:18.520 --> 00:30:20.040 The better you get, the cheaper it becomes 930 00:30:20.040 --> 00:30:20.960 and the more money you make. 931 00:30:20.960 --> 00:30:23.440 Funny, that sounds a lot like advertising. 932 00:30:23.440 --> 00:30:24.520 Next steps. 933 00:30:24.520 --> 00:30:27.160 One, decide if using an agency make sense for you right now. 934 00:30:27.160 --> 00:30:29.040 Two, talk to a lot of agencies to get a feel 935 00:30:29.040 --> 00:30:30.520 for the market, don't be cheap. 936 00:30:30.520 --> 00:30:33.080 Three, use the agreement framework outlined. 937 00:30:33.080 --> 00:30:35.240 Four, set a clear deadline to force you 938 00:30:35.240 --> 00:30:36.880 and your team to learn the skills. 939 00:30:36.880 --> 00:30:40.120 Five, use both teams until your speech there is regularly. 940 00:30:40.120 --> 00:30:42.280 Six, switch to discounted consulting 941 00:30:42.280 --> 00:30:43.600 until you feel like you're teaching them 942 00:30:43.600 --> 00:30:46.240 instead of them teaching you, then cut them loose. 943 00:30:46.240 --> 00:30:47.400 Now that we know how to profit 944 00:30:47.400 --> 00:30:49.120 from the high risk world of agencies, 945 00:30:49.120 --> 00:30:52.280 we explore the lead getter that's made me the most money. 946 00:30:52.280 --> 00:30:54.000 We recruit an army of businesses 947 00:30:54.000 --> 00:30:56.760 who can get us even more leads, affiliates. 948 00:30:58.160 --> 00:31:01.040 Free gift, what to look for in an agency checklist. 949 00:31:01.040 --> 00:31:02.760 If you want to know the best way to use agencies 950 00:31:02.800 --> 00:31:04.000 rather than being used by them, 951 00:31:04.000 --> 00:31:05.280 I made a free training for you. 952 00:31:05.280 --> 00:31:07.320 You can watch it free at acquisition.com 953 00:31:07.320 --> 00:31:09.240 for its less training, for its less leads. 954 00:31:09.240 --> 00:31:11.200 It has swipe files and some other goodies. 955 00:31:12.360 --> 00:31:15.200 I hope you enjoyed the employees and agencies chapters 956 00:31:15.200 --> 00:31:17.160 from the $100 million leads book. 957 00:31:17.160 --> 00:31:19.080 Next episode we have coming up 958 00:31:19.080 --> 00:31:20.800 is going to be affiliates and partners. 959 00:31:20.800 --> 00:31:23.320 That was a huge part of how we promoted this book. 960 00:31:23.320 --> 00:31:24.640 It's been one of my unlocks. 961 00:31:24.640 --> 00:31:26.960 I've done over 50, no, that's not true. 962 00:31:26.960 --> 00:31:29.240 I've done over $75 million in sales 963 00:31:29.240 --> 00:31:30.840 from affiliates and partners. 964 00:31:30.840 --> 00:31:32.720 And so learning how to align incentives 965 00:31:32.760 --> 00:31:35.720 between you and affiliate and their customers 966 00:31:35.720 --> 00:31:37.320 to create a win-win scenario. 967 00:31:37.320 --> 00:31:39.320 There is a very specific step process 968 00:31:39.320 --> 00:31:41.640 that you can follow to make that happen every single time. 969 00:31:41.640 --> 00:31:43.720 And when you unlock that, 970 00:31:43.720 --> 00:31:47.200 you latch your business onto their advertising. 971 00:31:47.200 --> 00:31:49.600 And so you get hundreds and thousands of people 972 00:31:49.600 --> 00:31:50.520 to advertise on your behalf. 973 00:31:50.520 --> 00:31:52.080 And just to give you some proof around this, 974 00:31:52.080 --> 00:31:53.000 when I promoted my book, 975 00:31:53.000 --> 00:31:56.040 I had over 10,000 people who promoted it with me 976 00:31:56.040 --> 00:31:58.160 and they did it without a financial incentive. 977 00:31:58.160 --> 00:32:01.160 And so you can do this stuff even if you have no budget. 978 00:32:01.160 --> 00:32:02.600 All right, so that's what we're gonna be going over 979 00:32:02.640 --> 00:32:03.760 in the next chapter. 980 00:32:03.760 --> 00:32:05.560 And if this stuff has been valuable for you, 981 00:32:05.560 --> 00:32:07.440 hit subscribe so you don't miss any new stuff. 982 00:32:07.440 --> 00:32:11.560 This has been $100 million leads 983 00:32:11.560 --> 00:32:13.280 written by Alex Ramozi, 984 00:32:13.280 --> 00:32:14.760 read by Alex Ramozi. 985 00:32:14.760 --> 00:32:18.400 Copyright 2023, acquisition.com, audio production, 986 00:32:18.400 --> 00:32:21.520 copyright 2023, acquisition.com media.