WEBVTT 1 00:00:00.000 --> 00:00:06.280 Welcome to episode five podcast edition of $100 million leads. This is a one single 2 00:00:06.280 --> 00:00:11.840 Kahuna chapter cold outreach. This is everything that I learned step by step on how to create 3 00:00:11.840 --> 00:00:16.480 a cold outreach system that ended up creating literally tens of millions of dollars from me 4 00:00:16.480 --> 00:00:20.960 personally because it is what created or transformed Jim launch into a sellable assets. 5 00:00:20.960 --> 00:00:24.440 We went from just being able to run ads to having a cold outbound team that generated 6 00:00:24.440 --> 00:00:27.920 over half of our sales and we had to learn it from absolute scratch. And so rather than 7 00:00:27.920 --> 00:00:31.480 you learning from scratch, let me just give you all the lessons so you can have a big 8 00:00:31.480 --> 00:00:35.800 head start. That's what this chapter is about. I hope you enjoy and if you really love 9 00:00:35.800 --> 00:00:43.760 it, leave a review. It would mean the world cold outreach. How to reach out to strangers 10 00:00:43.760 --> 00:00:51.760 to get engaged leads. Quantity as a quality all of its own Napoleon Bonaparte July 2020 COVID-19 11 00:00:51.760 --> 00:00:55.960 raged in a matter of months 30% of my customers went out of business protesters filled 12 00:00:55.960 --> 00:00:59.960 every platform with hate and anger. Small businesses suffered in silence. Unemployment 13 00:00:59.960 --> 00:01:04.880 skyrocketed. The most tumultuous election ever was upon us. And here we were trying to 14 00:01:04.880 --> 00:01:09.240 generate leads to pay our bills. Employees everywhere and their families depended on it. 15 00:01:09.240 --> 00:01:12.800 All three of my companies at the time, Jim launch prestige labs in Allen relied on brick 16 00:01:12.800 --> 00:01:17.560 and mortar businesses staying open and they were closed. Brilliant strategy Alex. To make 17 00:01:17.560 --> 00:01:21.880 matters worse, Apple did a software update that crippled our ads. The market was crap, 18 00:01:21.880 --> 00:01:26.080 our paid ads were crap and I carried the bucket. I ran through worst case scenarios. 19 00:01:26.080 --> 00:01:29.320 How much cash would it take to keep us afloat? How long do I keep paying people when there's 20 00:01:29.320 --> 00:01:33.440 no end in sight? Should I give it to my personal accounts? Give them a third of my life savings, 21 00:01:33.440 --> 00:01:38.240 half all of it? What does that say about me? I had no idea what to do. Early that Saturday 22 00:01:38.240 --> 00:01:43.240 morning. I tried to sleep long enough for my alarm to wake me, but it was no use. I went 23 00:01:43.240 --> 00:01:48.160 into my office and checked Instagram. I had a new message waiting for me. Hey Alex, 24 00:01:48.160 --> 00:01:52.040 you told me you guys don't need salesman anymore, so my offer got pulled. I quit my job 25 00:01:52.040 --> 00:01:55.360 to accept it. Super honored you considered me. I hope you considered me again the next 26 00:01:55.360 --> 00:01:59.600 time you have openings. Looking for context, I scrolled up. Reading our earlier messages 27 00:01:59.600 --> 00:02:03.920 rewarded me with a paying of guilt. I was the one who told them to apply. He took the 28 00:02:03.920 --> 00:02:09.840 rejection wall. A sign of a good salesman. I felt obligated to reply. You on, a message? 29 00:02:09.840 --> 00:02:18.080 Yeah, he replied. Got five. Yes. We have done a call. He sounded a little nervous, 30 00:02:18.080 --> 00:02:22.240 but I could tell he knew his stuff. It's actually not enough leads for this guy. I've 31 00:02:22.240 --> 00:02:25.480 wanted to work with you for a while now. I read your book and used your scripts to become 32 00:02:25.480 --> 00:02:29.560 the top producer of my company. He said, that's awesome. I'm so glad to hear it. What kind 33 00:02:29.560 --> 00:02:36.280 of company I asked? A gym software company. I hadn't heard of them before. Oh, interesting. 34 00:02:36.280 --> 00:02:41.560 How do you guys get your leads? We're 100% cold outreach. So you cold call and cold email 35 00:02:41.560 --> 00:02:47.920 gyms and sell them software. Yeah, pretty much. How big is the team? We've got about 30 36 00:02:47.920 --> 00:02:53.920 guys. A team of 30. What's your revenue if you don't mind my asking? We're doing about 37 00:02:53.920 --> 00:03:00.040 10 million a month right now. Insane. Just from cold outreach. Yeah, we run some ads, 38 00:03:00.040 --> 00:03:04.040 but we haven't really cracked that yet. And you do this with a retention offer. You're 39 00:03:04.040 --> 00:03:07.680 not even really making gyms more money. Yeah, it's definitely not as easy to sell as the 40 00:03:07.680 --> 00:03:12.760 stuff you do for gyms. Do you think you use the same outreach system here? I've never 41 00:03:12.760 --> 00:03:18.080 started a team, but I bet I could figure it out. Alright, what was the offer? Kale pulled. 42 00:03:18.080 --> 00:03:21.560 I was going to be a closer, but he said you guys didn't need one anymore. I thought 43 00:03:21.560 --> 00:03:26.560 for a moment. Well, given our current lead volume, he's probably right. But if you can 44 00:03:26.560 --> 00:03:30.200 get your own leads, I'll give you the run way to get cold outreach going. What do you 45 00:03:30.200 --> 00:03:34.760 think? It's going to take a while to get going off to figure out the scripts for your offer. 46 00:03:34.760 --> 00:03:38.440 Yeah, that makes sense. How long do you think I'm confident I can make your profitable 47 00:03:38.440 --> 00:03:43.640 in 12 weeks? Alright, deal. I'll let Kale know the plan. To be clear, you'll be expected 48 00:03:43.640 --> 00:03:47.720 to figure this all out. The software, the list, everything. I'll front you the time, but 49 00:03:47.720 --> 00:03:52.040 we can't support you much beyond that. Understood. Here's what happened during the following 50 00:03:52.040 --> 00:04:00.480 months. September, zero sales, Zipola, nothing, zilch, nada. October, two sales, $32,000 51 00:04:00.480 --> 00:04:04.720 revenue. Team asked me to pull the plug on the cold outreach. December, four sales, 52 00:04:04.720 --> 00:04:09.960 $64,000 revenue. Team asked me to pull the plug again. January, six sales, $96,000 53 00:04:09.960 --> 00:04:16.560 revenue, February, 10 sales, $160,000 revenue. March, 14 sales, $224,000 revenue, April, 54 00:04:16.560 --> 00:04:21.920 20 sales, $320,000 revenue. May, 30 sales, $480,000 revenue. Today, cold outreach generates 55 00:04:21.920 --> 00:04:26.560 millions per month for our businesses. Making this work took every legal, cold outreach 56 00:04:26.560 --> 00:04:30.920 method we knew. Cold calls, cold emails, cold drag messages, voice emails, everything, 57 00:04:30.920 --> 00:04:35.040 but piece by piece, we built a reliable customer getting system. I wanted something that 58 00:04:35.040 --> 00:04:39.080 would endure, and that's what I'm going to show you how to build. I learned five important 59 00:04:39.080 --> 00:04:42.960 lessons from this experience. One, there was another company in my space making a lot 60 00:04:42.960 --> 00:04:47.400 more money than mine. It broke my belief about how big the market really was. Two, it made 61 00:04:47.400 --> 00:04:50.760 all their money through private advertising. I had no way of knowing they existed unless 62 00:04:50.760 --> 00:04:55.720 they contacted me first, so they kind of operated in secret. Three, they built a very profitable 63 00:04:55.720 --> 00:05:00.840 cold outreach machine in my space. If they could do it, so could I. Four, it's good to 64 00:05:00.840 --> 00:05:05.160 have proper expectations. Cold outreach veterans told me to take a year to scale. I figured 65 00:05:05.160 --> 00:05:08.840 we could do it in 12 weeks. I was wrong. It took almost a year. Cold outreach takes 66 00:05:08.840 --> 00:05:13.800 a long time, at least it did for me. Five, we tried cold outreach two times before 67 00:05:13.800 --> 00:05:17.640 and failed. Working with a person that had done it all before was immensely helpful in 68 00:05:17.640 --> 00:05:21.480 getting this going. I hope to be that person for you now. 69 00:05:21.480 --> 00:05:24.400 At some point, you'll want one of two things. Either you'll want to grow faster than you 70 00:05:24.400 --> 00:05:27.960 currently are, or you want to increase the predictability of your lead flow. Here's 71 00:05:27.960 --> 00:05:31.880 how we can do that. We advertise to people who don't know us, cold audiences, and like 72 00:05:31.880 --> 00:05:36.240 before, we can contact them privately or publicly. In this chapter, we focus on private one-to-one 73 00:05:36.240 --> 00:05:42.040 communication with cold outreach. For added context, cold outreach sits atop the foundation 74 00:05:42.040 --> 00:05:45.680 of warm outreach. So think of this as a more advanced cousin or warm outreach, no longer 75 00:05:45.680 --> 00:05:50.080 limited by your warm audience. If you can figure out a way to contact somebody one-to-one, 76 00:05:50.080 --> 00:05:53.080 you can use it for cold outreach. You can knock on your doors, you make a hundred phone 77 00:05:53.080 --> 00:05:55.960 calls, you can send a hundred direct messages, you can send a hundred voicemails. These are 78 00:05:55.960 --> 00:06:00.000 all examples of cold outreach that have made companies zillions. It worked a hundred 79 00:06:00.000 --> 00:06:03.900 years ago, it works today, and when platform stains, it'll work tomorrow. Cold outreach 80 00:06:03.900 --> 00:06:08.640 has one key difference from warm outreach. Trust. Strangers don't trust you. And compared 81 00:06:08.640 --> 00:06:12.600 to people who know us, strangers present three new problems. First, you don't have a way 82 00:06:12.600 --> 00:06:18.720 to contact them. Duh. Second, even if you can contact them, they ignore you. Third, even 83 00:06:18.720 --> 00:06:22.160 if they give you their attention, they're not interested. Let me describe what these 84 00:06:22.160 --> 00:06:26.720 problems look like in the role. If you're knocking on doors, you don't have the addresses. 85 00:06:26.720 --> 00:06:30.460 Then even if you do, they don't open the door when you knock. If they open, they still 86 00:06:30.460 --> 00:06:34.520 tell you to pound sand. If you're making cold calls, you don't have their phone numbers. 87 00:06:34.520 --> 00:06:38.240 Even if you do, they don't pick up. If they pick up, they still hang up on you. If you're 88 00:06:38.240 --> 00:06:41.320 sending cold emails, you don't have their email addresses. Even if you do, they don't 89 00:06:41.320 --> 00:06:45.200 open the e-mail. Even if they do open it, they still don't respond. If you're sending 90 00:06:45.200 --> 00:06:48.080 direct messages, you don't have a place to send it. Even if you do, they don't read 91 00:06:48.080 --> 00:06:52.120 it. Even if they read it, they don't reply. If you're sending voicemails or text messages, 92 00:06:52.120 --> 00:06:56.040 you don't have their numbers. Even if you do, they don't read or listen to it. Even 93 00:06:56.040 --> 00:06:58.640 if they read or listen to it, they still don't reply. 94 00:06:58.640 --> 00:07:02.560 Now that we got out of the way, the order we solve these problems is this. One, get a 95 00:07:02.560 --> 00:07:06.520 way to contact them. Two, figure out to say, three, contact them until they're ready and 96 00:07:06.520 --> 00:07:11.560 able to listen. The result. We find lots of ways to contact the most qualified strangers. 97 00:07:11.560 --> 00:07:15.880 We reach out to a lot of them in a lot of ways a lot of times. Then we overwhelm them 98 00:07:15.880 --> 00:07:19.760 with value upfront to get them to show enough interest to move forward. 99 00:07:19.920 --> 00:07:24.800 It will take a few more steps than normal. As a personal rule of thumb, I sell expensive 100 00:07:24.800 --> 00:07:29.440 stuff. I sell expensive stuff better when I do it in multiple steps rather than on the first 101 00:07:29.440 --> 00:07:34.000 contact. So my priority is to get the prospect to show interest in the stuff I sell. When they 102 00:07:34.000 --> 00:07:38.480 show interest, I schedule a time to sell them. If my league magnet requires a second exchange 103 00:07:38.480 --> 00:07:42.960 to deliver it, I do that then. If my league magnet provides value on its own, then the next 104 00:07:42.960 --> 00:07:47.200 call is to talk about the value they received. Either way works. Code outreach is the number 105 00:07:47.840 --> 00:07:51.440 game. The more people reach out to, the more engaged leads you get. Once we figure out how much 106 00:07:51.440 --> 00:07:56.640 outreach it takes to engage a lead, then we only have one thing to do. More, let's go hunting. 107 00:07:58.000 --> 00:08:01.760 As there are three new problem strangers introduced, I divided the chapter into three steps. 108 00:08:01.760 --> 00:08:06.720 One step per problem. First, we get a target list of leads. Next, we need to know what to say to 109 00:08:06.720 --> 00:08:11.360 get them to reply. Third, we make up for lower response rates by increasing the volume and type 110 00:08:11.520 --> 00:08:18.000 of our reach out attempts. Problem number one. But how do I contact them? Build a list. Up until 111 00:08:18.000 --> 00:08:21.600 this point, for more reach outs and posting free content, you've had to accept the leads that 112 00:08:21.600 --> 00:08:26.960 came to you from your warm audience. No more. With code outreach, unlike any other way of advertising, 113 00:08:26.960 --> 00:08:31.040 we get to be as specific as we want. Only want to talk to hedge fund managers managing over 114 00:08:31.040 --> 00:08:36.080 a billion dollars. Done. You can do that. Only want to speak to golf apparel retail owners 115 00:08:36.080 --> 00:08:41.120 over three million in sales. Done. Only want to talk to influencers who get over 50,000 unique 116 00:08:41.120 --> 00:08:47.040 page use run. Done. Now we get to pick our targets rather than them picking us. Now you probably 117 00:08:47.040 --> 00:08:51.520 don't have a way to reach out to a thousand perfect fit strangers. And if we're going to get them 118 00:08:51.520 --> 00:08:56.400 to buy from us, we've got to first find a way to contact them. So let's solve that problem first. 119 00:08:57.040 --> 00:09:01.280 There are three different ways I get my target lead lists. First, I use software to scrape a list 120 00:09:01.280 --> 00:09:05.840 of names. Second, I pay brokers to assemble me a list of target leads. And if neither of those 121 00:09:05.840 --> 00:09:11.680 work, I manually scrape a list of names myself. Here's the process. Step one, software's. 122 00:09:11.680 --> 00:09:15.920 I subscribe to as many softwares as I can that scrape leads from different sources. 123 00:09:15.920 --> 00:09:19.360 I search them all based on my criteria. The software then spits out names, 124 00:09:19.360 --> 00:09:23.920 job titles, contact information, etc. I try out a representative sample, say a few hundred from 125 00:09:23.920 --> 00:09:28.160 each software I use. Then if the contact information is up to date, the leads are responsive, 126 00:09:28.160 --> 00:09:32.400 and they are the type person the software claims them to be, bingo. Then I get as many leads as 127 00:09:32.400 --> 00:09:37.040 the software will give me. But if I can't seem to find the right audience, move on to step two. 128 00:09:37.040 --> 00:09:41.760 Step two, brokers. I go to multiple list brokers and ask them to make me a list based on my audience 129 00:09:41.760 --> 00:09:46.720 criteria. They then send me a sample. I test out sample lists from each broker. If I get good results 130 00:09:46.720 --> 00:09:50.560 from one or more brokers, I stick with their lists. And if they still can't find who I'm looking for, 131 00:09:50.560 --> 00:09:55.600 I move on to step three. Step three, I'll go grease. I join groups and communities that I think 132 00:09:55.600 --> 00:09:59.680 have my audience. When I find people that meet my qualifications, I check to see if they have 133 00:09:59.680 --> 00:10:04.320 ways to contact them in the group's directory, like links to their social media profiles, etc. 134 00:10:04.320 --> 00:10:08.160 If they do, I add them to my lists. If they don't, I can reach out to them within the platform 135 00:10:08.160 --> 00:10:12.960 hosting the group. I prefer to find contact information outside the group so I don't come off as 136 00:10:12.960 --> 00:10:18.400 solely trying to moke the group for business, but I will if I have to. So I work my way out from 137 00:10:18.400 --> 00:10:22.960 the most accessible leads to the least accessible leads. Here's an important point. If you can search 138 00:10:22.960 --> 00:10:27.680 the database, so can everyone else. But if you assemble list of names yourself, it's less likely 139 00:10:27.680 --> 00:10:31.360 that person has already received many cold reach outs from other companies, so they're the 140 00:10:31.360 --> 00:10:36.320 freshest. Downside, it takes the most time. Of course, you can pay someone else to do this for you 141 00:10:36.320 --> 00:10:39.680 once you figure it out yourself, but we're only talking about getting started in this chapter. 142 00:10:39.680 --> 00:10:44.720 We'll talk about scaling in section four. Action Step. Find your scraping tool by searching 143 00:10:44.720 --> 00:10:50.240 Outbound Lead Scraping Tool or Database Lead Scraping. Find brokers the same way, with a few clicks 144 00:10:50.240 --> 00:10:54.560 you'll find what you're looking for. Put your first thousand names together. If you have more time 145 00:10:54.560 --> 00:10:58.400 than money, you might want to start at step three, since it only costs time. Pro tip. 146 00:10:58.960 --> 00:11:04.080 Interest groups are the warmest cold audiences you can get. Interest groups contain the highest 147 00:11:04.080 --> 00:11:08.640 quality leads because there are concentrated pools of people looking for a solution. Give them one. 148 00:11:08.640 --> 00:11:12.640 Nowadays, there's software that can scrap information from these groups. Use it. They're one of my 149 00:11:12.640 --> 00:11:19.280 favorite places to fish. Problem number two. I have my list, but what do I say to them? Personalize 150 00:11:19.280 --> 00:11:24.720 that then give big, fast value. Now that you have your list of leads, you got to figure out what to say. 151 00:11:24.720 --> 00:11:28.800 I went over a lot of scripting in the Worm Reach Out section. This section builds on that one. 152 00:11:28.800 --> 00:11:31.920 At the end of this chapter, I also include three scripts you can model for cold calls, 153 00:11:31.920 --> 00:11:35.840 cold emails, and cold chat messaging. That being said, there are two important factors I 154 00:11:35.840 --> 00:11:41.120 emphasize to get strangers to engage. Personalization and big, fast value. This is important because 155 00:11:41.120 --> 00:11:44.640 they don't know us and they don't trust us. We got to overcome both the issues in a matter of 156 00:11:44.640 --> 00:11:52.560 seconds. They don't know us. Personalize it. Act like you know them. To get more leads to engage, 157 00:11:52.560 --> 00:11:57.360 we want the message to look like it's from someone they know. The best way to do that is to 158 00:11:57.360 --> 00:12:01.600 actually know something about the person you're contacting. In essence, we want our cold reach out 159 00:12:01.600 --> 00:12:06.800 to look like a Worm Reach Out. Imagine your phone rings from an unknown number in Area Code. 160 00:12:06.800 --> 00:12:11.280 Are you likely to pick it up? Probably not. What about if the number is from your Area Code? 161 00:12:11.280 --> 00:12:15.600 A little more likely. Why is that? Because it might be someone you know. So to take this concept 162 00:12:15.600 --> 00:12:21.680 further, imagine you pick up the phone. The person says your name, then pausing, like a normal person. 163 00:12:21.680 --> 00:12:28.640 You'd say, yeah, who's this? Now, if that person went on and said, it's Alex, then pauses. 164 00:12:28.640 --> 00:12:32.640 I watched a few of your videos and read that recent blog post you wrote on dog training. It was 165 00:12:32.640 --> 00:12:36.640 killer. Really helped me out with my government. She's a beast. That peanut butter trick really helped. 166 00:12:36.640 --> 00:12:40.560 Thanks for that. You'd still be wondering what's going on, but you know, you wouldn't be doing 167 00:12:40.560 --> 00:12:45.280 hanging up. Then you hear, oh yeah, sorry. I got ahead of myself. I work for company that helps 168 00:12:45.280 --> 00:12:49.680 dog trainers help their books. We like to partner with the best in the area. So I'm always on the lookout. 169 00:12:49.680 --> 00:12:53.920 We work with someone about a half hour north of you. Johnny's dog care. You heard of them? 170 00:12:53.920 --> 00:12:58.240 You'd respond yes or no. It doesn't really matter. And then they'd say, yeah, we ended up getting 171 00:12:58.240 --> 00:13:01.920 a hundred appointments in 30 years using a combination of text and some ads. Do you offer similar 172 00:13:01.920 --> 00:13:06.480 services to them? Which you'd probably say yes. And then they'd say, oh, that's perfect. Then we 173 00:13:06.480 --> 00:13:10.320 be able to use the same campaign in your market and drive the leads over to you. If you got a boat 174 00:13:10.320 --> 00:13:13.600 load of high paying new dog training customers, you wouldn't be upset with me, would you? Ha ha ha. 175 00:13:14.240 --> 00:13:18.720 You'd laugh lightly. Okay, great. Well, tell you what, I can walk you through the entire 176 00:13:18.720 --> 00:13:24.080 thing soups and nots later today. Will you be around for? And you'd say sure or whatever. 177 00:13:24.080 --> 00:13:27.840 The point is, if that person that started the call with, hey man, want to buy some marketing 178 00:13:27.840 --> 00:13:32.720 services, you probably would have hung up. Personalization is what gets your foot in the door to get 179 00:13:32.720 --> 00:13:37.520 the sale. Basically, one to three pieces of information we can find that a friend might know about 180 00:13:37.520 --> 00:13:43.360 the prospect. Then we want to compliment them on it. And ideally, show them how benefited us. 181 00:13:43.360 --> 00:13:48.000 People like people who like them. Even if someone doesn't know you, they'll give you more time if 182 00:13:48.000 --> 00:13:53.200 you know something about them. This comes in handy for personal subject lines on emails, the first 183 00:13:53.200 --> 00:13:57.920 few messages in chat, or the first few sentences to someone here. Even if someone doesn't know you, 184 00:13:57.920 --> 00:14:02.320 they'll appreciate the time you took to research them before contacting them. This tiny effort goes 185 00:14:02.320 --> 00:14:07.280 a long way. Action step, do a little research on each lead before you send a message. 186 00:14:07.280 --> 00:14:12.240 We can do this ourselves, pay people to do it or you software, batch this work. Then use your 187 00:14:12.240 --> 00:14:18.000 notes to figure out the first thing you'll open with to feel more familiar. Pro tip, 50% email 188 00:14:18.000 --> 00:14:23.200 response bump. I took our cold outreach template and rewrote it below a third grade reading level. 189 00:14:23.200 --> 00:14:28.320 The results, 50% more leads responded. I recommend running all scripts and messages through 190 00:14:28.320 --> 00:14:32.800 a free reading level app online. I won't recommend one because they got a business all the time, 191 00:14:32.800 --> 00:14:37.120 but I promise you can find one. Make your messages easier to understand and more people respond. 192 00:14:37.920 --> 00:14:44.160 B. They don't trust us. Big fast value. The key difference between people who know you and 193 00:14:44.160 --> 00:14:48.800 strangers is, strangers give you far less time to prove your worth. And they need a lot more incentive 194 00:14:48.800 --> 00:14:53.120 to move towards you. So make your life easier by giving away the farm. We're not trying to tickle 195 00:14:53.120 --> 00:14:57.520 their interest. We're trying to blow their minds in under 30 seconds. Like warm reach outs, you can 196 00:14:57.520 --> 00:15:02.080 directly make your offer or offer a lead magnet or both. It gives the person a strong reason to 197 00:15:02.080 --> 00:15:07.840 respond. I specifically call out big fast value rather than your lead magnet as a reminder that 198 00:15:07.840 --> 00:15:14.480 it needs to be big fast value. If it's not or it's mediocre, you'll blend in with the ocean of 199 00:15:14.480 --> 00:15:19.120 people trying to get their attention and they'll treat you the same. They'll ignore you. So here's 200 00:15:19.120 --> 00:15:24.080 how much it matters. The first four months of our cold outreach felt like torture. We offered a 201 00:15:24.160 --> 00:15:28.800 game planning session as our lead magnet. Some gyms took us up on it, but most didn't. We needed 202 00:15:28.800 --> 00:15:33.440 something better. I tested many parts of our process, but swapping the lead magnet blew everything 203 00:15:33.440 --> 00:15:38.480 outside of the water. We swapped from game planning, code for sales call to actually give them 204 00:15:38.480 --> 00:15:44.240 as much free services we possibly could. Our take rates, three X and cold outreach became a 205 00:15:44.240 --> 00:15:49.440 monster channel for us. If your offer slash lead magnet isn't working for you up the 206 00:15:49.440 --> 00:15:54.640 ante, keep offering more and more until you make it so good they feel stupid saying no. They either 207 00:15:54.640 --> 00:15:59.680 buy from you or they have nice things to say about you. Win win. If you forget everything about 208 00:15:59.680 --> 00:16:05.600 this chapter, remember one thing. The goal is to demonstrate big value as fast as possible. 209 00:16:05.600 --> 00:16:10.080 Give yourself a downhill battle by giving away something crazy. Give away something for free people 210 00:16:10.080 --> 00:16:14.960 would normally pay for and they will want it. Note, I didn't say so good they should pay for it. 211 00:16:14.960 --> 00:16:20.720 I said stuff they actually pay for. Big difference. Take this to heart and your results will show it. 212 00:16:21.600 --> 00:16:26.240 Action step. Provide the biggest fastest value you can afford to with your lead magnet or offer. 213 00:16:26.240 --> 00:16:30.240 Then write your scripts and don't worry I got your back there. To give you a head start, 214 00:16:30.240 --> 00:16:33.760 I provide some sample phone email and direct message scripts at the end of the chapter. 215 00:16:33.760 --> 00:16:38.080 Note, phone and chat scripts are never more than a page or two and cold emails are rarely more than 216 00:16:38.080 --> 00:16:43.120 half a page. So don't overthink it. They are no rewards for pretty as script. Get your first 217 00:16:43.120 --> 00:16:47.200 hundred conversations or ten thousand emails out of the way before tweaking it. Get testing. 218 00:16:47.200 --> 00:16:51.920 Then tweak as you learn. Problem number three. I'm not getting enough chances to tell people about 219 00:16:51.920 --> 00:16:58.400 my amazing stuff. What do I do? Volume. Once we have our list of names, personal info and our big 220 00:16:58.400 --> 00:17:03.200 sexy lead magnet, we need to get more strangers to see it. We do this in three ways. First, 221 00:17:03.200 --> 00:17:07.360 we automate delivery to the greatest extent possible. Next, we automate distribution to the greatest 222 00:17:07.360 --> 00:17:14.880 extent possible. Finally, we follow more times and more ways. A, automated delivery. To the extent 223 00:17:14.880 --> 00:17:18.720 we can, automating delivery unlocks huge scale as someone doesn't need to literally communicate 224 00:17:18.720 --> 00:17:23.280 the message to the prospect. This means you get more engaged leads per unit of time, even if you 225 00:17:23.280 --> 00:17:27.440 are engaged by overall percentage. Remember, you have far more people who don't know you than 226 00:17:27.440 --> 00:17:32.240 people who do. So you don't have to worry as much about burning through an audience. Here's what 227 00:17:32.320 --> 00:17:37.440 the difference between manual and automated delivery looks like. Manual examples. A live person 228 00:17:37.440 --> 00:17:41.760 can say a script to someone over the phone. You can send a personal voice memo to each lead. 229 00:17:41.760 --> 00:17:46.240 A person can write a handwritten letter to every person on the list. If it takes a person time to 230 00:17:46.240 --> 00:17:53.840 convey each message, then it's manual. Hey, I hope you're enjoying the book right now. If you don't 231 00:17:53.840 --> 00:17:58.080 know this, the mission of acquisition.com is to make real business education accessible to everyone. 232 00:17:58.080 --> 00:18:01.440 And the only way we can reach everyone is if you choose to share this. And so if you've been 233 00:18:01.440 --> 00:18:04.800 enjoying this, you've been getting value from this chapter and any of the rest of the podcast 234 00:18:04.800 --> 00:18:09.760 episodes. If you could just take a second and ship this to a friend, just click the one button 235 00:18:09.760 --> 00:18:12.720 and send it to somebody or shared on your stories. It would mean the world to me and it would 236 00:18:12.720 --> 00:18:16.560 ultimately send this message to more people. So if you could do that now, it would mean a lot. 237 00:18:19.120 --> 00:18:23.760 Automated examples. We can send a pre-recorded voice memo to someone's direct messages. We 238 00:18:23.760 --> 00:18:27.920 can send a pre-recorded voice mail to someone's voice mailbox. We can send a templated email 239 00:18:28.000 --> 00:18:31.920 to an inbox or a templated text to someone's phone. We can send a pre-recorded video, 240 00:18:31.920 --> 00:18:35.920 et cetera. You record your message one time, then send the same messages to everyone. 241 00:18:36.560 --> 00:18:40.720 Pro tip. Use technology that gets you more engaged leads for your time. Every day, 242 00:18:40.720 --> 00:18:44.240 artificial intelligence, deep fakes, and other technology advance. They become more 243 00:18:44.240 --> 00:18:48.560 indesinguishable from human communication. This means we will be able to automate elements of what 244 00:18:48.560 --> 00:18:53.360 we currently are forced to spend time on. Embrace technologies that comes out to read the rewards. 245 00:18:53.360 --> 00:18:58.080 Ultimately, technology serves a single purpose to get us more output per unit of time. Use it. 246 00:18:59.280 --> 00:19:04.320 Automate distribution. Once we have our messages prepared, we got to distribute them. 247 00:19:04.320 --> 00:19:08.080 And there's no word for who works the hardest, only for who gets the best results. 248 00:19:08.080 --> 00:19:12.800 Although one leads to the other, and as you build your skills, you will find ways to automate 249 00:19:12.800 --> 00:19:18.400 portions of the work. I encourage you to automate when ethical and available. Manual examples. 250 00:19:18.400 --> 00:19:23.200 Dial each phone number, click send on a Gmail, direct message, text, et cetera. Automated 251 00:19:23.200 --> 00:19:28.000 examples. Use a robot to dial multiple numbers at once, send a blast of a thousand emails, 252 00:19:28.000 --> 00:19:33.680 text voicemails, all at one time, et cetera. Generally speaking, you sacrifice personalization for 253 00:19:33.680 --> 00:19:38.880 scale. Get a higher response rate with personalized message. The few leads you have, the less automation 254 00:19:38.880 --> 00:19:43.760 you should consider using. For example, if there are only a thousand hedge fund managers who meet 255 00:19:43.760 --> 00:19:48.000 your criteria, you're going to want to personalize every one of them. On the other hand, 256 00:19:48.000 --> 00:19:52.480 if you're targeting women 25 to 45 trying to lose weight and there are tens of millions of them, 257 00:19:52.480 --> 00:19:56.960 you can get away with less personalization. But if you personalize, you'll get even more. 258 00:19:56.960 --> 00:20:02.800 Wink. Pro tip. Personalization tech. The perfect combination for max leads is max personalization 259 00:20:02.800 --> 00:20:08.080 with max volume. And with tech, you don't always have to sacrifice personalization for scale. 260 00:20:08.080 --> 00:20:12.800 Every day, data becomes more accessible to find personal data. If you can set up tech to accomplish 261 00:20:12.800 --> 00:20:18.320 both personalization and volume, you create a deadly effectively getting combo. Action step. 262 00:20:18.320 --> 00:20:22.880 Embrace new technology. Allocate 10 to 20% of your effort towards brand new, 263 00:20:22.880 --> 00:20:28.080 untested technology. For example, if you make phone calls five days a week, try out a new dollar 264 00:20:28.080 --> 00:20:32.160 or tech one of the days and see how it does compared to your standard dialer. See, 265 00:20:32.720 --> 00:20:38.080 follow up more times, more ways. There are two more ways you can get more from your list of names. 266 00:20:38.880 --> 00:20:43.920 First, you try to contact them more than once. Shocker. But want to know something crazy? 267 00:20:43.920 --> 00:20:47.920 Most people don't. Here's a different way to think about it. Imagine you really needed to get 268 00:20:47.920 --> 00:20:52.000 a hold of your parents because something important came up. What would you do? You'd probably 269 00:20:52.000 --> 00:20:56.160 call them, text them, leave a voicemail, etc. And if they still hadn't responded, what would you 270 00:20:56.160 --> 00:21:02.240 then do? You'd call and text them again, probably shortly thereafter. It's the same way with prospects. 271 00:21:02.240 --> 00:21:07.760 They are in danger of living life without your solution. Be a hero, save them. The more ways you 272 00:21:07.760 --> 00:21:12.240 try to contact someone, the more likely you are to contact them. People respond to different 273 00:21:12.240 --> 00:21:17.040 methods. For example, I never respond to phone calls, but I reply to direct messages far more. 274 00:21:17.680 --> 00:21:22.720 Contacting someone multiple times multiple ways shows them you are serious and doing so quickly 275 00:21:22.720 --> 00:21:26.800 communicates you have something important to discuss. Curiosity increases because they fear they're 276 00:21:26.800 --> 00:21:32.080 missing out. Personally, I like to email first. You know why? Because most people don't respond. 277 00:21:32.080 --> 00:21:36.080 If someone doesn't respond to one of your outreach methods, use that as a reason to follow up with 278 00:21:36.080 --> 00:21:41.360 another method. Hey, I'm calling you to follow up about my email. We either get a response 279 00:21:41.360 --> 00:21:46.480 or a real reason to reach out again. Either way, we win. And once you do get them booked for 280 00:21:46.480 --> 00:21:51.840 an appointment, expect more than one conversation. Remember, we're contacting complete strangers. 281 00:21:51.840 --> 00:21:56.240 Outreach takes more touch points with people who don't know you. So expect two or three conversations 282 00:21:56.240 --> 00:22:01.680 before I hire tickets sale. Shoot for less, but expect more when you're starting out. Bottom line, 283 00:22:01.680 --> 00:22:05.120 act like you're actually trying to get a hold of these people rather than going through the motions 284 00:22:05.120 --> 00:22:10.640 and you probably will. Action step, contact each lead multiple times in multiple ways. 285 00:22:11.280 --> 00:22:17.280 Pro tip, don't be an incomplete. If someone asks you not to contact them, don't contact them again. 286 00:22:17.280 --> 00:22:21.120 Not because there isn't a chance it could work, but because for the same effort, you can reach out 287 00:22:21.120 --> 00:22:25.520 to someone who isn't already negatively inclined. It's just more efficient to turn neutral to yes 288 00:22:25.520 --> 00:22:30.080 than no to yes. On top of that, you don't want a bad reputation. That kind of stuff follows you. 289 00:22:30.080 --> 00:22:33.280 Try hard because you have a general desire to solve their problems, but be respectful. 290 00:22:34.000 --> 00:22:38.320 Second, once you've finished contacting your list, start back at the top again. 291 00:22:38.320 --> 00:22:43.040 This actually works for three reasons. One, because they simply may not have seen your first 292 00:22:43.040 --> 00:22:48.000 years of messages. Only a fool would think 100% of people see what you put out 100% of the time. 293 00:22:48.000 --> 00:22:50.160 So we make up for that discrepancy with follow up. 294 00:22:50.800 --> 00:22:56.320 Two, even if they do see it, it may not have been a good moment to respond. People's schedules 295 00:22:56.320 --> 00:23:01.520 change every day, and there are times when people can't respond to you even if they wanted to. 296 00:23:01.520 --> 00:23:05.120 So the more opportunities you give them to respond, the greater the chance they will. 297 00:23:05.920 --> 00:23:10.640 Three, their circumstances may have changed. They may not have needed you then, but need you 298 00:23:10.640 --> 00:23:14.800 desperately now. Imagine a person you messaged about losing weight before the holidays. 299 00:23:14.800 --> 00:23:18.960 At that time, they fit into their skinny jeans, so they feel no pain. They probably wouldn't 300 00:23:18.960 --> 00:23:22.640 respond. But after they gained 10 pounds over the holidays, they may all of a sudden be in 301 00:23:22.640 --> 00:23:26.400 desperate need of what you offer. And now, they respond to your reach out attempt. 302 00:23:26.400 --> 00:23:31.280 The only thing that changed was their circumstance. So try again in 36 months and get an entirely 303 00:23:31.280 --> 00:23:36.720 new group of engaged leads from the same list. Everything may be right except the timing. 304 00:23:36.720 --> 00:23:40.720 So the more times you contact them, the more likely we will catch them at the time they're ready 305 00:23:40.720 --> 00:23:45.920 to engage. Action step. After you've attempted to contact them multiple times, multiple ways, 306 00:23:45.920 --> 00:23:51.280 wait three to six months, then do it again. Protests. If you are new to an average team, 307 00:23:51.280 --> 00:23:56.240 shout out to the best guy on the team. Then double their inputs. If they make 200 calls, 308 00:23:56.240 --> 00:24:01.200 make 400. If that means you work more, duh, you will suck before you are good. 309 00:24:01.200 --> 00:24:06.320 You can make up for your lack of skill with volume, volume negates luck. And when you do twice 310 00:24:06.320 --> 00:24:11.120 as many, you'll get good in half the time. Once you beat their numbers, then you can get cute 311 00:24:11.120 --> 00:24:16.800 and try new things, replicate before you iterate. Three problem strangers create, solved. 312 00:24:17.600 --> 00:24:22.640 I wrote the book in this order to build on itself. Start with warm reach outs, get some reps, 313 00:24:22.640 --> 00:24:27.200 post some content to grow your warm audience, get even more reps. Then you'll be ready for cold 314 00:24:27.200 --> 00:24:32.400 reach outs. And now we solve the three core problems cold audiences create, finding the right list 315 00:24:32.400 --> 00:24:38.000 to people, getting them to pay attention to you, and getting them to engage. Victory. Author note. 316 00:24:38.800 --> 00:24:43.360 For people with low ticket products, I had trouble making cold outreach profitable when selling 317 00:24:43.360 --> 00:24:48.080 for my direct consumer business. Cold outreach teams are expensive and my average ticket wasn't 318 00:24:48.160 --> 00:24:53.040 high enough. But I learned I could make a low ticket product, a high ticket product if I sold a 319 00:24:53.040 --> 00:24:57.680 lot of them at once. So I switched from using cold outreach to get customers to using cold 320 00:24:57.680 --> 00:25:02.800 outreach to get affiliates who got customers for me. There were two ways that worked. Either I'd 321 00:25:02.800 --> 00:25:06.960 sell the affiliates lots of products in bulk up front, then they'd sell my products to their 322 00:25:06.960 --> 00:25:12.320 customers, or I'd use cold outreach to recruit them, then get them to sell my products to their 323 00:25:12.320 --> 00:25:16.960 customers and receive a commission after the sale. One affiliate sale can be worth thousands of 324 00:25:16.960 --> 00:25:22.400 customers. Both ways transform my quote low ticket sale into a quote high ticket sale by selling 325 00:25:22.400 --> 00:25:27.120 many at once. So the numbers pencil out. If you're having trouble using cold outreach for your 326 00:25:27.120 --> 00:25:31.600 direct consumer business, consider going after affiliates instead. More on this in the affiliates 327 00:25:31.600 --> 00:25:38.640 chapter later. Benchmarks. How well am I doing? The two times I failed at cold outreach, I hired 328 00:25:38.640 --> 00:25:43.520 people who'd never tracked metrics while the third person did and cold reach outs exceeded. 329 00:25:44.320 --> 00:25:48.880 The person who runs it maybe you has to know the metrics of the sales process like the back of 330 00:25:48.880 --> 00:25:54.560 their hand, every single stat. Let's break down the numbers with a couple of platform examples. 331 00:25:54.560 --> 00:25:58.800 I cannot give an example for every platform because it would take too long. My hope is that you 332 00:25:58.800 --> 00:26:05.680 can generalize the concept to whatever platform you use. Phone example. Let's say I make 100 cold 333 00:26:05.680 --> 00:26:11.840 calls per day and let's say I get a 20% pickup rate. From there, I'm able to get 25% of people to 334 00:26:11.840 --> 00:26:18.160 want to take my lead magnet. That means I got four engaged leads. If it took me four hours to make 335 00:26:18.160 --> 00:26:23.760 those calls, it means I got one engaged lead per hour. I can do this at first. Once the amount of 336 00:26:23.760 --> 00:26:28.400 engaged leads that convert to customers makes me more than it cost to pay a cold outreach rep, 337 00:26:28.400 --> 00:26:33.760 I teach someone else to do it for me. More on this in section four. So you know you do well when you 338 00:26:33.760 --> 00:26:37.680 make at least three times the lifetime profit of a customer compared to what it costs you to get 339 00:26:37.760 --> 00:26:45.120 them. Email example. Let's say you send 100 personalized emails per day. From there, 30% open our 340 00:26:45.120 --> 00:26:51.440 email. From there, 10% reply showing interest. That means we'd have three engaged leads, which is 341 00:26:51.440 --> 00:26:57.280 30% times 10% equals 3%. The numbers will vary but shoot for 3% of your list turning into 342 00:26:57.280 --> 00:27:02.320 engaged leads. Here's a sample from a new campaign for a very niche high ticket service business 343 00:27:02.320 --> 00:27:09.040 in our portfolio. It shows a 4% lead to engagement rate. And presumably a third of them converted 344 00:27:09.040 --> 00:27:14.960 into sales. That would net us one new customer per 100 reach out attempts. Direct message example. 345 00:27:16.080 --> 00:27:21.200 Let's say I make a personal video or record a personal voice memo for 100 people. I say their name 346 00:27:21.200 --> 00:27:26.400 and add one personal line before delivering my standard message. From there, 20% of people reply. 347 00:27:27.040 --> 00:27:32.960 Now we have 20 engaged leads. From there, we use the same ACA format from the warm outreach section 348 00:27:32.960 --> 00:27:37.840 to qualify them for a call and so forth. So like the phone example, you know you do well when 349 00:27:37.840 --> 00:27:42.320 the cost of doing cold outreach is less than three times what you make in profit from a customer. 350 00:27:42.320 --> 00:27:48.160 Note, you can do way better than three times. That's the bare minimum. For context, the portfolio 351 00:27:48.160 --> 00:27:54.400 company above gets over 30 to one returns from the outreach efforts. Costs. This method is labor 352 00:27:54.480 --> 00:27:59.040 intensive. Nearly all costs are in the form of labor. In order to calculate our return on 353 00:27:59.040 --> 00:28:03.280 advertising, we add up all labor and software costs associated with steps one through three 354 00:28:03.280 --> 00:28:09.600 in the section before last. Let's imagine we have a team doing cold calls. We pay them $15 per hour 355 00:28:09.600 --> 00:28:16.320 and $50 per show unemployment or shows. We have $3,600 in profit per sale. Lead costs is 10 cents. 356 00:28:16.960 --> 00:28:22.400 They call 200 leads per day. We would likely get about two shows per day from one rep. If they 357 00:28:22.400 --> 00:28:28.160 worked eight hours per day, we would pay $120 in labor and $100 in show commissions per rep 358 00:28:28.160 --> 00:28:34.640 and $20 for the leads. This means we would pay $240 for two shows or $120 per show. 359 00:28:35.360 --> 00:28:40.880 If we close 33% of shows are costing it a client, excluding commissions, would be $360. 360 00:28:41.600 --> 00:28:46.080 Since we get $3,600 in profit per new client, we would make a 10-to-1 return. 361 00:28:46.800 --> 00:28:50.880 That's how cold outreach works. Then you just add bodies. It is boring, 362 00:28:50.880 --> 00:28:52.560 and tedious, but brutally effective. 363 00:28:53.280 --> 00:28:57.040 Protit. Give each rep an explicit number of leads to work each week. 364 00:28:57.920 --> 00:29:01.680 They should care for these leads like they are their children. If you give a rep too many, 365 00:29:01.680 --> 00:29:06.720 they will waste them. If someone can work 100 leads of full capacity, I'll give them 70-ish. 366 00:29:06.720 --> 00:29:10.640 That way, they have time and energy to squeeze everything they can out of leads they've got. 367 00:29:11.200 --> 00:29:15.440 And since all reps get the same amount of leads every week, you can give them absolute quotas for 368 00:29:15.440 --> 00:29:21.520 deals. Example, I give you 70 leads, you give me back seven appointments, I pay you, no leads left 369 00:29:21.520 --> 00:29:24.960 behind. This sounds hard. Why bother? 370 00:29:25.920 --> 00:29:29.280 Most people dramatically underestimate the amount of volume it takes to use cold outreach. 371 00:29:29.280 --> 00:29:33.760 They also underestimate how long it takes, but there are seven enormous benefits to using cold 372 00:29:33.760 --> 00:29:39.600 outreach. Number one, you don't need to create lots of content or ads. You focus only on one 373 00:29:39.600 --> 00:29:44.560 perfectly crafted message you convey to all your prospects. Your only goal is to make that one 374 00:29:44.560 --> 00:29:50.080 message better every day. There is no quote ad fatigue or quote banner blindness since your 375 00:29:50.080 --> 00:29:54.400 prospects have never seen anything from you. So you don't need to be a marketing genius to make 376 00:29:54.400 --> 00:29:59.920 this work. Two, your competition won't know what you're doing. Everything is private. By that 377 00:29:59.920 --> 00:30:04.000 fact alone, you can continue to operate in secrecy. You're not educating your competitors 378 00:30:04.000 --> 00:30:08.240 by how you acquire customers. They don't know what you're doing or even that you exist. 379 00:30:09.120 --> 00:30:14.800 Three, it's incredibly reliable. All you have to do to get more is do more. A certain amount 380 00:30:14.800 --> 00:30:19.360 of input creates a certain number of responses. It becomes like clockwork bringing a reliable flow 381 00:30:19.360 --> 00:30:23.440 of new engaged leads into your world. You can reverse engineer the amount of sales you want to 382 00:30:23.440 --> 00:30:28.480 make to the number of inputs at the top of your lead pathway. Eventually, you'll have an equation. 383 00:30:28.480 --> 00:30:33.040 For every ex people contacted, you get why customers. Then you simply solve for ex. 384 00:30:33.680 --> 00:30:38.480 For example, let's say for every 100 emails, I get one customer. If I want 100 customers, 385 00:30:38.480 --> 00:30:44.560 I need to send 10,000 emails. That's 333 per day. One person can send 111 emails per day. 386 00:30:45.120 --> 00:30:49.200 Therefore, I need three people sending emails every day to get 100 customers per month. 387 00:30:51.040 --> 00:30:56.480 Four, fewer platform changes. Private communication is rarely subject to platform changes, 388 00:30:56.480 --> 00:31:00.400 whereas public platforms change rules and algorithms every day. You got to stay on top of 389 00:31:00.400 --> 00:31:04.320 rules changes to remain effective. In contrast, rules for cold-going, doorknocking, 390 00:31:04.320 --> 00:31:11.040 and cold email have hardly changed in 30 years. Five, compliance is less painful. Many platforms 391 00:31:11.040 --> 00:31:15.120 have stringent rules around claims you can make about the stuff you sell. Some also bans 392 00:31:15.120 --> 00:31:20.160 certain industries altogether. Tobacco, firearms, cannabis, weight loss, etc. With cold outreach, 393 00:31:20.160 --> 00:31:23.680 you don't need to deal with any of this. You still need to be FTC compliant, 394 00:31:23.680 --> 00:31:28.160 but you don't also need to worry about platform rules on top of that. This makes life easier. 395 00:31:28.160 --> 00:31:31.840 If you have a phone, you can make money. If you have an email account, you can get leads. 396 00:31:31.840 --> 00:31:33.280 This makes you very hard to stop. 397 00:31:34.320 --> 00:31:40.080 Six, no spokesperson equals a sellable business. If an investor can buy it from you without 398 00:31:40.080 --> 00:31:45.200 worrying your business will stop getting customers if you leave, your business is far more valuable. 399 00:31:45.200 --> 00:31:49.440 Having an established outreach team is how we were able to sell gym launch. The business could 400 00:31:49.440 --> 00:31:54.000 grow without me dancing in front of the camera or relying on me being super ridiculously good looking. 401 00:31:54.960 --> 00:31:59.040 I don't think they would have wanted to buy us without it, or at least not for as much. 402 00:32:00.160 --> 00:32:04.960 Seven, hard to copy. Even if someone wants to copy your entire cold outreach system, 403 00:32:04.960 --> 00:32:10.160 they'll often need to learn how to do each step, and many steps are invisible. They don't know how 404 00:32:10.160 --> 00:32:13.360 you scrape your list. They don't know how you personalize your messages. They don't know what 405 00:32:13.360 --> 00:32:17.520 software is used to distribute the messages, etc. On top of that, they still need to learn how to 406 00:32:17.520 --> 00:32:21.840 hire, train, and operate a team of people who can do each step. Once you have a head start, 407 00:32:21.840 --> 00:32:24.560 it compounds with time. It becomes very hard to catch you. 408 00:32:25.200 --> 00:32:31.200 Author note, belief breaking volume, scaling to 60,000 emails per month. To break your belief 409 00:32:31.200 --> 00:32:34.560 for under what's possible, here's an example. To break past a million dollars per month, 410 00:32:34.560 --> 00:32:38.080 we automated the entire process of scraping, crafting, and sending emails for one of our portfolio 411 00:32:38.080 --> 00:32:43.120 companies. One virtual assistance since 2000 emails per day using multiple pieces of software. 412 00:32:43.120 --> 00:32:47.840 This generates the business 40 engaged leads per day. Note, the response rate dropped because 413 00:32:47.840 --> 00:32:53.520 we took out so much personalization. From there, they're building at 10% of engaged leads sold, 414 00:32:53.520 --> 00:32:58.240 meaning they get four new customers per day. This got them past that 100 customers per month 415 00:32:58.240 --> 00:33:03.680 barrier, fun facts. They started with us at 250,000 per month, our minimum size requirement for 416 00:33:03.680 --> 00:33:08.400 investment at the time. The business makes 20,000 dollars per customer. With four new customers per 417 00:33:08.400 --> 00:33:13.520 day, do the math at how big they are now. Your turn. If you recall our advertising checklist, 418 00:33:13.520 --> 00:33:17.360 this kicks off your journey to get more engaged leads with cold outreach. You start this as you run 419 00:33:17.360 --> 00:33:22.880 out of people to advertise to or because you just want more. Here's a sample. Cold reach out 420 00:33:22.880 --> 00:33:30.640 daily checklist. Who? Yourself. What? Hook plus league magnet slash core offer. Where? Any private 421 00:33:30.640 --> 00:33:37.280 communication platform? To whom? A list scraped, bought, or using software? When? Every day, 422 00:33:37.280 --> 00:33:44.240 seven days a week. Why? To get leads to engaged to sell stuff? How? Live calls, voicemail drops, 423 00:33:44.240 --> 00:33:49.360 email blasts, text blasts, direct message text, video messages, voice messages, 424 00:33:49.360 --> 00:33:56.720 direct mail pieces, handwritten cards, etc. How much? A hundred per day. How many? Day one? Twice. 425 00:33:56.720 --> 00:34:01.840 Day two? Twice. Day seven? Once. How long? As long as it takes. 426 00:34:02.720 --> 00:34:07.760 Pro tip. Counting hundreds. This is a volume game. You will need to do a lot of volume 427 00:34:07.760 --> 00:34:12.240 efficiently to get the results you want. Don't set a daily goal below a hundred and don't 428 00:34:12.240 --> 00:34:16.080 stop for a hundred days minimum. If you yield a hundred reach outs for a hundred days straight, 429 00:34:16.080 --> 00:34:20.720 I promise you will start getting new engaged leads. Next up, now that you have set your commitment 430 00:34:20.720 --> 00:34:25.120 for this cold outreach method, we move on to the last thing a single person can do to advertise. 431 00:34:25.120 --> 00:34:32.240 Run paid ads. Free gift. Cold outreach script samples. I had to cut scripts to make this 432 00:34:32.240 --> 00:34:37.360 book a manageable length. If you want to model your scripts off of them, go to acquisition.com 433 00:34:37.440 --> 00:34:41.760 Fortslash training. Fortslash leads. And if you need another reason, besides it'll make you 434 00:34:41.760 --> 00:34:47.840 money, it won't cost you any. It's free. Enjoy it. Hey, if that's going to make you money, 435 00:34:47.840 --> 00:34:53.520 what you just heard, go leave review. That's how more people find out about this stuff. Please 436 00:34:53.520 --> 00:34:58.480 don't hoard this to yourself. There's another entrepreneur who is a family and kids who 437 00:34:58.480 --> 00:35:03.280 needed this stuff. As much as I needed it during the pandemic when I was trying to save my business, 438 00:35:03.280 --> 00:35:08.160 please share it. Thank you. And yes, the next episode, Run paid ads, you'll enjoy it. I've 439 00:35:08.160 --> 00:35:10.880 run a lot of ads. We're pretty good at it. And I'll share how I do it.