Building a $3,000,000 Business for a Stranger in 57 Mins | Cash Cows | Ep 867

22:22So then that's then gonna go here which you have congrats and then we'll have our main our secondary headline now here's where we put the video okay above above the scheduler okay and then the scheduler is going to be here so this will be vsl then they'll have the booking and then post booking we'll have a separate thing here which will one have the vsl uh and the lead magnet so it's just like that way they can go to their email to get it but they also can click here to get it just makes it convenient for them but what we have here though is basically how to prepare for your call and just more selling.

22:59Yeah. I'm a huge advocate of having videos or kind of sales materials prior to a human intervention. And the reason for that is if you've ever done sales on a consistent basis, you end up kind of repeating the same presentation, if you will, over and over and over again. And so then it starts to sound rehearsed. The other person zones out, you zone out because you've said it so many times. I like taking all of the stuff that you kind of repeat over and over again in a sale and front loading that. And so when you're on the call or when you start the call, you can start it like, okay, how's everything sound?

23:27And now we can basically start from the beginning to making a decision rather than like just like another prerecorded, you know, vomit of a salesperson. And the other benefit of a video is that there's a lot more visuals, right? Like if you're talking to the phone, you're talking on zoom, you'll be limited in the amount of visuals you can probably provide. Whereas here you might be able to provide charts and graphs and statistics and visuals that make it more compelling and easier for somebody to understand. I would rather have the perfect pitch delivered every time in an automated format. And then have the customization be what the conversation is after the fact to get them to decide to buy or not.

23:59This is the new funnel. This is what we advertise. And just real quick, this is after they schedule VSL again. This is the VSL again. It's just a different one, but yeah. It's a different one, but more like prep for sales. So think about like this. Think about all the things that people present with on the call early that are their biggest concerns. Okay. That's what you put there. Okay. So you might be wondering this. You might be wondering this. So let me put your minds at rest. So these are the things you need. You don't need this. You do need this. If you're concerned about these four things, I'll break them down one at a time.

24:27So first things first and then walk through it. And I'll be on. So, you know, have a computer. It's going to be a Zoom call or expect it from this number, whatever. So call prep concerns and this VSL. This one is like more about like. Pain and promise. Okay. Got it. Yeah. If we honestly, like if we just do this, you're probably going to like significantly increase your sales. Awesome. And we do it. Like, I mean, like we could probably do nothing else today. And like, that's all that has to be done, right? Is that the ads need to go to the right avatar, which is called out. We're actually going to give them a reason to go to this page that they can immediately get value from.

24:59They're going to opt in. Then we have our, now, if you want to do more of the, you want to add more of the information that you were collecting over here, you can. That's fine with me. As long as it's fully integrated into here so that they don't have to do it twice. If you want, you can put a little on this side, like a black banner across the top of this, that has, you know, for$4 million plus only. Yep, got it. This is a big part of this, of what we were talking about earlier. Sip my brain juice for a second. I'm going to spill it. I've got a lot of stuff in here.

25:38Okay, so you're confident about the$4 million avatar. Is there any reason that$2 and$3 million avatars don't work? They do. They just, they're going to be a harder sell because their ROI isn't necessary. So then let's get to the offer part because this, this like, because this is, this is the, this is the funnel and process. But now let's talk about the offers that we're selling here. All right. So let's put this because now this is going to go to the phone. This is a phone for everyone who is born before, sorry, after, after 1995. So these are the offers. Okay. So Ben has a clear offer problem.

26:10I wrote my entire first book on this issue because it's one of the most common problems that limits businesses. And the offer is a strategic thing that you do in that it affects the entire business. If you change your offer, it changes the advertising, it changes the conversion process, it changes your pricing, it changes your deliverables. So it changes everything. But because of that, if you nail the offer, that's where you can have these massive upticks in growth seemingly overnight. And so I'll just read this little piece for you. No offer, no business, no life. Bad offer, negative profit, no business, miserable life.

26:45Decent offer, no profit, stagnating business, stagnating life. I would say he's right now between two and three. Good offer, some profit, okay business, okay life. And then what we want to build is a grand slam offer, fantastic profit, insane business and freedom. That's what we want to get to. So let's break this out. So I think that that offer straight off the bat selling$30 ,000 upfront, really tough sale. Totally. Very, very hard sell. So I like that he's charging premium prices for premium services. That makes sense. The problem is how he's selling it and when he's selling it. The right offer at the wrong time is still the wrong offer.

27:19That's the problem he has. And so this$30 ,000 thing absolutely should be, and maybe we need to change that. Maybe that should be a$60 ,000 or$90 ,000 thing. But selling it right off the bat is kind of like, he's getting people who've never met him before to just get on a call and then just try and buy. Rather than try and go for that, I'd rather go for a much easier sale that with that first product or service, we can give them the information so that now our entire business is about upselling customers into our$30 ,000,$60 ,000,$90 ,000 thing, rather than spending six phone calls to close somebody on a$30 ,000 thing and having people drop off at each of those steps.

27:52This is how I, if I owned your business, I would have my front end thing be like five or six grand. I would have it solve one very specific problem very well that more than, you know, gives them a 50K or a while on a$5 ,000 thing. But it's built in purposefully just to get the quick sale, transition from prospect to customer, one call close, not three call closes, which I'm sure you're having to do right now just to close. Right. Yeah. You're arm wrestling people to get 30 grand. We're missing the point of even having this simple sales funnel. and so get the 5k do the three calls you were going to do as a sale anyways yeah provide value for those three and then at the end sell your 30k thing got it so i think that the changes that alex recommended for the funnel make a ton of sense i'm not a professional funnel designer i've really only been doing paid ads for the last year and listening to somebody who's got as much vast experience like alex tell me exactly what i need to do is super helpful and i know that i could probably figure it out over many, many years and painful processes.

28:55But ultimately having this path to create a funnel that works is going to make me feel a lot better. So what can we split off that's like five or six grand that would be immediately valuable to them that doesn't require a huge amount of work, but they could just like, they could use your calculator. They can make these changes and immediately see like a return that would then create the necessity for your main thing? Yeah. I would say that the pricing thing is massive. Another thing would be like just very basic sales training for their teams. Like they need a script. Like they're bartenders and servers.

29:30If you don't have a script for your sales team you have no idea. And the way you look at that is very straightforward. How many drinks per person are you selling? You know a number of guests. You know how many drinks you're selling. You know drinks per guest. Boom. That's like a pretty easy trick to kind of grasp onto. Which of those is easier for you to deliver on? The pricing is like massively easy because they just have to change in their peals. Then I would go pricing on it first. Yeah. Because also there's immediate value in that what I would do is like, let's back calculate how much more profit you would have made last year if you had these prices.

29:59Yeah. And then they're like, holy shit, I would have made 100 grand. And you're like, cool. So pretty good return on the five. Yeah. Great. If you like that, you're going to love what I have for you next. Got it. Which is how do we actually make sure this happens consistently quarter over quarter? This is actually what we do with our premier customers. Right. It's too cold of a sale right now. Yeah. Yeah. So either we have to have a much longer sales process or we lower the bar so we can just get them in the door and then we can upsell. Right. And the profit booster, which is what we call it in a way, is like you think that that is going to be meaty enough for them.

30:29Obviously, it's 5K. Right. We're not selling 30. It's 5. Right. It's like, dude, if we just fix this one thing on more than I know what your market looks like. We have comps in the area. We can tell you what this market can sustain. And that way, the question is, what's it worth to get it right on the first shot? Mm-hmm. So, like, for sure, I could say, hey, just bump your price up at 10%, but you'd probably freak out about that. Of course you would, and rightfully so. So what we're going to do is remix a couple of the things, get the prices appropriate to your area that we already know are working, so you don't have to sweat about it.

30:58Right. Done. So it's like the only real cost to you is reprinting your fucking menus. Right. And then the next step is, like, do you want to raise your prices again, but sooner? Well, you need a better quality product, better trained bartenders, et cetera. And I feel like that could help them kind of understand that they will have that opportunity to do it again sooner. because they already got the bump. And the reason I want this one is because this is fast and easy, which I like selling those things first. You have to do this in order to do this, so you might as well sell this first. Okay. And the fact that it's easy and fast and profitable, like that checks all the boxes for fast, easy, risk-free.

31:30There you go. Got it. I think we make this 5 ,800 on the phone for the pricing booster, whatever you want to call it. Yep. And then what we do is that then leads to the quarterly retainer at, I think you had 9K per quarter, right? and that's probably how I price it. So Alex's idea about the$5 ,800 offer really makes a lot of sense. What he was explaining that trying to sell somebody a$30 ,000 service, cold. Hey guys, real quick. This podcast only grows from word of mouth, quite literally. There's no other way to grow a podcast than word of mouth. If there's some element of this that you think somebody else should hear or would be relevant to them, it would mean the world to me if you shared this via text, via Instagram, via DM, via whatever way you like to share stuff with the people you love.

32:13Thank you. isn't working. There was a little bit of an aha moment, but actually it makes a ton of sense. So I'm excited to try to find an opportunity to give our clients or prospects that will become our clients exceptional value right off the bat will one, make it a lot easier to go to the next step and also give us a lot of quick wins so that we're not constantly putting in all this work to get nothing. I'm trying to think about the easiest way to do this. I would probably end up doing a rollover upsell. So we're selling step one of a multi-step process. That's what this is. And I would seed that up front.

32:50So when you sell the thing, it's like, listen, I'll be real with you. My whole goal is to give you this pricing on it. I'm just going to easily ROI myself and like everybody will be happy. What I really want to do is help you really transform the bar. Because you can only do a pricing change once. And then after that, what do you do? Right. But even if we make this pricing change, great. We made an extra hundred grand, but wouldn't it be to make an extra million? Now I'm not promising that because obviously your results will vary, depends on your market. But what I can do is basically walk you through what it takes to truly build this into a staple that then also drives people into the food side.

33:17So it becomes a virtuous cycle. And so what I want to do is take your 5800 and I'll credit towards the year. So if you're wondering, should every business have a backend and a front end or multiple offers? The answer is it depends. And I know that's a terrible answer, but I'll tell you what it depends on. There's a certain amount of information that is required for somebody to make a decision, depending on where they come in on that continuum of needing a little bit of information versus needing a lot of information, then there has to be more selling that must occur. Then the next constraint that comes up in the business is cash flow.

33:45Well, if we're spending money to get these people in, we want to recruit that cash as fast as we can. And for somebody to buy maybe a$100 ,000 thing, it takes more time and more information to make that decision. And during that time, we're spending all this money in labor and advertising, but we're not seeing any return. The idea of sometimes having a front-end and back-end offer is mostly just to pull cash forward, offset the cash outlay, which is another way of saying decrease the payback period or increase the cash conversion cycle. Lots of fancy words, but basically just get money back faster.

34:14So that then everything after that's all gravy, you recruit the money, now you can go get another customer. And then this person's all in the extension process. For example, his advertising was all brand based and all inbound. Then he could probably get away with just going straight to a more expensive thing because they've already consumed so much information prior to that. But And since he's almost entirely based on cold traffic ads, we have to lower the bar to get people to just take that small jump so that he can then prove himself to then take the big jump. Got it. I've seen that before. Yeah, because it works.

34:45And you do it, but it's like you only get that if you do that during the two to four weeks that we have. Right. So that's the time window we can apply it towards. Right. And if you want, I'll apply it to your first payment. So, you know, the 9K becomes 4K for your first quarter. And then you go into 9K after that. or if you want one of my personal favorites is just knock off 1500 per quarter so make this 10 5 or you know 10k per quarter but if you do it now it's 8500 got it and we knock it out that way we spread the discount over four quarters i gave ben two different ways of applying the discount i prefer spreading discounts because i don't want an easy yes and then go from 4k to 9k and then them say oh actually i'll just get the quarter and then i'll cancel i'd rather spread the discount out and get the commitment over the long term and so if someone's willing to pay the 8500 they're like okay, well, that was nice of him to credit the$5 ,800 or$6 ,000 towards my payment.

35:35So it's like a nice gesture. It encourages people to take action, but it's not so much so that it's getting the wrong type of customer in because the price is going to double. That way you're not crushing your first payment. Sure. And the$9 ,000 per quarter, which is what we're doing that is continuity on the better cocktail consulting thing. So how do we... How sticky is that? How sticky is it? How are people re-upping? The actual design and implementation of their cocktail menus? or of this. Are people churning out of this? They, yes. Like basically anybody who buys it as part of the initial package, they don't continue on with it.

36:09Like they stop after two quarters. I have my suspicions on when that's happening. Okay, why? We are not showing them the value. We're not demonstrating it in a meaningful way. Like we're supposed to fill out a scorecard. We're supposed to show them week over week how much better their program's doing. We're not doing it. You're not doing it? Well, I have like... Well, yeah, the team, sure. So there's a little warning alarm that's going off for me right now, which is that if people are turning out in two quarters, basically two payments, that's not a good sign. You know, he nailed it. He's not providing value.

36:37That's a kind of amorphous big term. But underneath of that, it's like the question is why? One of the difficult parts with consulting or education is that if you are what I would consider a one trick pony, I'm not saying Ben is, but if you are, then once you kind of like implemented your thing, it's like, why should someone keep paying you? So I like to figure out ways that we can have some sort of consumables or something that is always changing the business that is required for you to keep providing value. One of the benefits of a bar or restaurant is that they're always getting new staff in.

37:03And so new staff needs to get trained up consistently. Now, the downside is if they learn how you train, then they'll just say, well, I'll just train them myself and not pay you this money. We have to figure out a way to make the back end stickier or just accept that it's not and then charge an appropriate amount of money for it so that you deliver that value. You have a good margin and you just understand that that's the nature of the business. And the good news is there's a gazillion restaurants and bars. and so you'll be able to do that for a very long time. Well, some people try to create recurring revenue for recurring revenue's sake, but some products and services are not really meant to be recurring.

37:38There's a reason that after four years of education in college, you graduate. After high school, you move to the next thing. Like education in general tends to graduate people. They learned and because they learned, they no longer, you know, should continue. Now, how does the education system deal with this? They just give you more and more majors and you can become a master and you can have a PhD and you can be a double secret PhD, right? They'll just always give you something else. It's more common in an education and consulting business like his, but the businesses that are most valuable obviously are businesses that once someone comes in, they never want to leave or stop paying.

38:06But it doesn't mean that you can't make a ton of money in businesses that you do just one-time services on. So I don't think there's anything wrong with that. There's just less enterprise value. Why are they doing it? I think there's a little bit of resistance to just kind of numbers in general. From them? From them. I co-designed that component of it for them to do. Is there a way that you can just get a login to their system and then collect it? Definitely. I'll bet you if you logged into their system and once a month they had a meeting with you where you showed them their numbers, it would almost feel like this guy knows all my stuff.

38:34I have to. You know what I mean? And so I think that would be worth the extra time. It costs me two hours per account or whatever. Right. That to me feels worth improving. Because if you can't fix churn, there's no point in doing anything. Right. Because I just have people falling off the back. It's like we have to start with people staying and then we can fix all the front end stuff. Because why would we pour more to a leaky bucket? Right. So how does this process feel overall? It feels great. I mean, it's in line with the direction I wanted to go in. It's just obviously laid out much more clearly and using a system that you know works.

39:07Okay, good. As an entrepreneur, you try to figure out a lot of things on your own. You can do it a lot of ways. You can do it by doing the research, trying things out, or working with people who have been there and done it before. with Alex, not only has he been there and done it before, he's been there, done it incredibly well, multiple times for businesses in tons of different industries. And so when he says that something's going to work, I believe it. The sales training is like the intermediary. Is that kind of what you're recommending here? Because in my head, the offer component starts with the pricing part, because that's the easy win, right?

39:46That would then move into the cocktail consultant, the better a$30 ,000 offer, and then that would move into the$9 ,000 a quarter. Any reason to not just push them into continuity? Because they probably still have shitty cocktails. I could make that just, I could just say, we'll start, we'll just do our program, and we'll do it in the first three months. It'll be the first quarter, we'll be the program. That's fine. As long as we can maintain the continuity. Yeah. There's an offer structure that I like a lot called the Wave Fee Offer. So basically I could say, listen, this thing I charged$30 ,000 for.

40:20Yep. If you commit for the year, I'll waive it. Yep. But you're committing for it. Now, if you want to cancel two quarters in, you have to pay me this. Yep. Got it. So it's like I'll eat the car. If I take the risk on, you make the commitment. That's the risk you take. Yep. And I'll front you all this work. If you take the risk, and so you want to have the, you don't want the commitment, then pay for that. I'll do it. And then it's quarter to quarter. Yep. Which one would you prefer? Got it. But now it's an A-B close. Right. That help? Yep. Okay. I'm going to talk about a session in a second, but I think big picture, we have funnel redo.

40:55Yep. So we got that going. Number two is add call outs. Three is we have new lead magnet. Four, we have, so inside of funnel redo, we have three-step and then Vimeo, video above scheduler. Yep. And then we have integrate scheduler with opt-in. All right, let's pull this page up again real quick. So I'm going to design this as though it were the second page because the first page is really simple. It's just headline, subheadline, image, opt-in. That's it. Got it. All right, so basically the first half here, you could peel off and make that the first page, but you'll have a picture of the thing that you're going for.

41:32Right. And you're going to remove the top two. You know, you remove your logo. You're going to remove Better Bar Program. Take that out. Beautiful Cocktails is going to be the without X, Y, and Z that you're confirmed, you know, your biggest concerns. Now let's scroll down. All right, cocktails of capture, highly trained bar teams, functional product. I would think about it like this, like create drinks that create regulars. Get staff that customers can't wait to come back to and tip like crazy, you know, parentheses. Sure. And then functional operating processes. That's like all that headache reduction.

42:02Yeah. I want to think about like functional operating processes. The way to, what I think about when I'm writing a copy is what are the moments? So if I have functional operating process, what's the moment for me as a restaurant owner or bar owner that I would experience the benefit of functional operating processes? Is it when I realized that I didn't have to throw out all this inventory that I like all these old pineapples that I thought I was going to need and then toss out? Like what's the moment or moments? It's kind of one of those things like when you notice the pain isn't there anymore.

42:32Right. Like that's a hard thing to kind of put your finger on. Well, then tell me what the pain is. The pain works fine. Like the pain that they typically have with a dysfunctional operating process. Give me a moment. Is like when they walk in, the bar is a total mess because nobody knows how to set it up. Like no more disaster back of bar. Yeah. But it's just like you can do the negative or the relief of the positive. Okay. Now let's scroll up. Okay. A lot of consistent proven results. I would say like we drive quarter over quarter alcohol sales growth. Because that's what to me, proven results doesn't mean anything as a word.

43:0430 % cocktail sales, 40 % return to beverage, 50 % boost speed of service. I would actually use the numbers as the subtext and I would use the benefit as the primary text. So speed of service is like get rid of waiting lines. And then it says underneath 50 % boost and speed of service. That's me personally. So I referenced earlier in the ads around the copy, but now we're applying the same frameworks from who, what, when to the landing page. I like to speak in terms of moments because people don't really, like they have to translate or unpack a word of like a process or some specific improvement.

43:41It just takes mental effort. And every piece of mental effort you ask someone to use, a certain percentage of people say, nah, I've got other things in my life and they'll dip. I want to pre-digest the food. I want to pre-digest the pain and explain the moments that they probably recently experienced that will then make them believe that I have complete context on their problem and therefore I'm likely to be able to solve it. So there's a number of really small things that you can do at a page that can have a really big improvement. First off, like everything that someone sees above the fold, like that's the most important part of the page.

44:07Like what happens on someone's mobile device or their desktop before they scroll? That's above the fold is kind of what they say in the marketing world. If you've got like the name of your business and it's cold traffic, they don't know. They don't care. So like take that out because they don't know who you are. And so then the headline itself, it's like we want it to be some sort of very clear like reason for them to move forward. And then I usually have sub headlines that clarify or add context to the headline. And so oftentimes that'll be like without X, Y, and Z or without pain, it qualifies it.

44:33Underneath that, it's like, I want it to be as simple and clear as possible what they're going to get. And then basically everything below the fold is just, if you're still skeptical, let me just give you more information to make the decision. But I want all of the information I'm providing to be relevant to why someone should move forward, not just like a whole bunch of stuff about us. And then make sure that you have disclosures around results to make sure you explain how these things are calculated. And otherwise it could just be an unsubstantiated claim. So with the new lead magnet, we have the new funnel.

45:00We have the new ad call-outs. This is great. We're going to have the$5 ,800 pricing offer, which I like. And then Ascension, which is going to be a rollover. I think there's a C in there somewhere. Ascension via rollover plus waived 30K offer. All right. Also, the thing is, is this in-person onboarding is going to serve as such a good, like first experience for them because you're going to fly out your fixed month they'll be like wow this is so worth it and right now your team does all of this stuff right not you i'm all acquisition okay you're all the people flying out is your team exactly yeah no i never i stay so what i want to do yeah so what i want to do is add an ultra high ticket with you yeah so just 5x the price yeah and you can uh present that first yeah get the gas and be like or i can tell my team do it to me the exact same process it's just i got i got a wife and kids and so you want me out there i'll do it happy to and it's just obviously you know this is what we do but they're going to run the same play got it so effectively the 5800 pricing is part of like an extended sales 100 instead of taking three calls or four calls like you are right now just get paid deliver the value and then once you have an exchange they get more than what it's worth customers versus prospects are like 10 times more likely to buy again of course and so just get them make them customers so you can increase the likelihood so then they buy again right give them a ton of value have it all be with me and it's easy because this is just pricing related right it's pricing 30 you know 15 30 day fix they immediately see the value you're like dude if you like this or you don't love that right do you feel like there's a ton like a lot of value for me doing all that fulfillment or do you think that that's something that i can also have somebody on my team i think you do it first do it just to get a feel for it sure totally that and uh and because what i want to make sure that we nail is this.

46:49Got it. Because we're not in it for the$5 ,800 thing, right? We're in it because we want to see, I would want to see at least 50 % upgrading into that. Yep. Okay. Get that, get to here. And then make them the money to pay you the next thing. And I would say the way that I operate is that I never want to ask you for money I haven't already made you. Got it. And you'll notice that's a common theme of how I roll. And so it's like, let me go make you a hundred grand. We make you that with the new bar program. Right. And then with the next thing it's going to cost you a third of what I already made you.

47:17Right. So you're good. I've already made room for you to afford me. Right. So it's much easier sale. Right. So I charge them 5 ,800. They're now making$9 ,000 a month, month over month. And they're like, oh, look, you have $90 ,000 that you didn't have before. Look, you can use that on us. Right. And you want to make sure that you make that offer before the end of that 30 day period. So it's like you want to offer it at week two, three, again at four if you need to. And the way that I offer those things is either I'll do immediate upsells if I don't have that, which in this one, it doesn't make sense.

47:47So you'd have the milestone moment. So they implement it and they have their first weekend after the pricing audit and their sales are the same or their sales go up and they're like, holy shit, I made way more money. So that would be a moment that I would immediately ask for the sale. The next one that I would have is basically like the next week, because this is a pretty short time. And then finally, you have last chance. So you have three shots at the sale for this. Now you were taking sales calls before, but now you're talking to a customer and they've already delivered them value. easier. And they're making money.

48:14Exactly. Okay. I mean, big picture, if we're looking at this, like the funnel redo on its own could very well triple the lead volume that you're getting right now. Okay. Honestly, just the combination of the funnel redo, the ad call out and having a lead magnet that actually resonates with that specific avatar. Like this alone could probably just triple just these things. This is going to dramatically improve sales velocity. Sure. Let's talk about sales real quick. What do you do? Like, so what's the walk me through what, like how you structure the conversation for sales. You already have something.

48:44Yeah. So that's the, that this is the, like the click to close, right? Okay. They visit the landing page soon to be optimized. Yes. Fill out the form. Yeah. Fill out the form. And that automates a text message, text message and email. So text message and email, I guess if they didn't book, yeah, it'll still, it'll still go out. They'll have the link to book, et cetera. It also triggers a call from my director of ops who's largely involved in the, the intake process. So she conducts an intake. This was previously for, we had this intake process in place because of low quality leads. So she would take an intake call, 15 minutes.

49:21If they were qualified, she'd send them off to me. I'd conduct a discovery, usually about 30 minutes. I talk to them about what their biggest pain points are. I ask them all the different questions about what they want to see. What percentage of them have been watching the video? This new video? No. What percentage of them have been watching the video after, like when they get on the phone with you? Oh, that video is new. Okay. Yeah. So that's like brand new. Okay. Yeah. Well, this last month you've taken sales calls. Have any of them mentioned the video? No. Okay. So they're not watching it. So this, the way that I structured it here, where they're going to have to see the video before they, well, they'll see it and they'll have to scroll in order to get to the scheduler.

49:58We'll probably increase the likelihood they actually watch it. But the other thing is, is that that's set call. Yep. So I'm going to make this number seven set goes to then video yep to then close so your director of ops is going to say awesome so uh i'm going to set you up for ben but before you get on i'm going to send you this video make sure you watch it and i'm just going to say do that because the first question he's going to ask you is did you watch the video so and if you have it he's just going to say okay i'm going to grab a coffee yeah you watch the video so you're going to do it either way so you might as well just do it now yeah and so and also for you when you hop on the call i'll be like did you watch the video if they say no It's like, great, watch that.

50:33And I'd be like, and the reason we do that is because I already have a lot of facts and figures and things like that that I could describe with my words, but it'll take us three times as long as you just watching it. And so then that'll give us good context rather than me just spewing stuff at you, which most people are like, okay, fair enough. But you don't want me to just give you a lecture for 10 minutes. I don't want to either. This has some graphs, it has some figures in it. That makes it a little bit more digestible for you. And so yeah, that'll be the sales process there, proposed call.

50:57And you'll be like, honestly, if you do these things at this price point, I think you'll be able to start closing like a lot. Because if you were closing like 50%, which I think you could if you're an owner-operator and you're at this point after this kind of process, you'll, I mean, I think you could close, some people, owner-operator close like 80 % of these calls. So I'm a big believer in founders selling the product in the beginning. And I think there's a number of reasons for that. One is it keeps you close to the customer. You can understand how the marketing is doing. You can see who's coming in and that will give you a very rapid feedback loop in terms of what you need to adjust on the front end and how you can kind of get feedback on your offer and your pricing.

51:29and it takes out one very important variable, which is that if you have a salesperson who's in there, you might not know if they're doing a good job. So you might be like, ah, they're not closing. What's the problem? And they might be like, I don't know, these leads suck, but like, is it a pricing issue? Is it a copy issue? Is it an avatar issue? Being closer to it, you would be like, oh no, these are the right people that we're talking to and they're just shocked at the price. So they're not shocked at the price, but they're just not getting it. And so each of those would kind of offshoot into different types of solutions.

51:54The big thing is though, I like founder selling the beginning as well, because when you're the founder, you're the most convicted. And so you will typically be able to outperform any salesperson. And in the beginning, when you have fewer resources, you could use the extra conversion percentage and the decreased cost of not having a salesperson or paying the commission. So think, I can close twice as many sales and I don't have to pay the commissions for it. It frees up cash flow so that we can make some of these big bets early on that are going to build the foundation for the business. There's so few leads that are coming in that I think he should be taking these calls basically until he can't take these calls anymore.

52:26And by the time he can't take these calls anymore, he's already completely blown past his revenue level. He'll have a whole bunch more revenue and cash flow to then solve the problem of him not having time. And that's the game of business. With that being said, that would be like, if you just did that, it would be more than a 5x in sales. Because if you get to 30 % close rate would mean that you make the same revenue. Right. Without your actual$30 ,000 backend. Right. But if you're at 50%, you're making 40 % more revenue. And then you still have your backend. Right. One last thing is that I understand why you're not spending that much money but you are spending too little money with the fixes that we're at now yeah it would be okay to keep the spend that you have but if i were selling a 30 000 thing you're barely selling you're barely advertising enough to get enough volume for something of that ticket and so for me if i test stuff i usually test it two times cac per campaign yep so i start two times yeah two times allowable cac not current yeah right exactly um that's kind of my benchmark per campaign though so i might run multiple campaigns to figure out which one's working but for you, your funnel process was messed up and that's why this is, that's why your numbers aren't good.

53:31Yeah, got it. So what I'm referencing here is that I budget two times the cash I collect from a customer in 30 days when I'm testing new ads. For example, if I make$100 in profit from a customer in the first 30 days, I will let an ad go to$200 in spend before shutting it off as long as I'm getting leads. And the reason for that is usually because there's a certain amount of inefficiency in the beginning that you have to be willing to stomach to find the ads, the copy, the hooks, the creative variations that are going to ultimately perform. I have to be able to stomach bad ads that don't convert and make up for it in good ads that do convert and then be like, okay, so this is working not as efficiently as I want, but it's working.

54:05Now let's double down on this and make 10 more variations that are more similar to this messaging. Yeah. And once he finds the messaging that converts, it's like, by all means, blow the doors off and spend as much as you can, or at least as much as you can while being able to take all the sales calls. That's it. Like this really fixes this. The good thing is like this, like you wanted to hit your triple. I make no guarantees these are high likely like shots okay that's very encouraging yeah no you've got it and i think this is the key because also think about all the calls you're not gonna have to take all the ones that are three calls and then don't close right right you're spending all your time on these wasted calls when it could be one call closing 5800 5800 5800 and so you see this as a one call close at 5800 like discovery for sure discovery for sure like oh that's your problem yeah for sure it's like here's here's the solution right here not even a question yeah got it that's You should be expecting one couple.

54:53You should set that as the agenda. You'll say the four things you have to say legally. Hey, this is X calling from Y in regards to Z. By the way, this call is recorded. Before we get going, just want to say, how are you doing today? Great. Let me set the agenda. I'm going to go through the lead magnet thing that you just got. I'm going to understand some of the metrics about your bar. And then at the end, if it's a good fit, I can explain to you how many people will help you out. Sound good? Great. And then we just go through. I almost forgot because Michael wants me to do this. Oh, yeah. This could be.

55:20This could be. I mean, it actually could be your triple could be right here. You could definitely two to three extra call outs in terms of CTRs with the ad call out. I'll bet you your conversion rate. Do you know what your conversion on your on your landing pages right now? Like last year, it was like 7%. Okay, so so 7 % could probably go closer to 30%, which is my benchmark for a lead magaling page, which would be like a nice little chill 4x here. I think you going from 6 % close rate to like 30 % to 50 % is super reasonable given the fact that you are the one who's going to be selling it and the price point is what it is.

55:54So I think in a real way, you might even make more money just selling this than you're currently doing with none of the extra work. And then all of this, this right here, is just going to be gravy. So you're basically going to be able to stack potentially probably a double of your current revenue from this source, but then stack 100 % of your current revenue from this. How do you like this plan? Love it. It's a lot of what I want to do. Oh, good. And I've started kind of trying to figure out if this is something that makes sense for me to do. And then obviously seeing it all on paper and coming from you gives me a lot more confidence to want to do it.

56:28I would do it pretty much in this order. You're going to redo the funnel. Yep. Once the funnel is redone, technically the lead meg would happen at the same time as the funnel. So one and three happen together. Yeah. Ad call outs, you then run the ads. This is basically your phone process. So this happens up front. Four and six would happen together because this is a sales process. Yep. The ascension happens after they buy. This is also going to happen again with sales process. So basically one and three are together. Two happens next. Four, six, seven happen third. Then you go back to your ads guys and say, hey, go spend more.

56:54Go find more keywords. Yeah. There you go. Hold on. Let me, let me.

57:01It's all about the picky. Cool? Cool. All right. I was both very excited and very nervous to come into something like this, to really put it all out there and be vulnerable, not just in front of somebody who I have an immense amount of respect for, but also people who are gonna watch this video, you guys. That was awesome, getting through that, right? And I felt once it was actually done, felt amazing, right? Like it felt great to know that I have a path forward that I can really count on. And while I know that no guarantees are there, I do know that I feel a lot better, and that's important. So I really like Ben's business.

57:42It's clear that he understands the bar business well, which is one of my big requisites, like actually be good at the thing before trying to sell the thing. I think if he makes some of the changes that I outlined, it's very likely that the business does well. And I like to be clear, this is no way a promise that you who's watching this is home. If you do this in your business, that you'll get the same results because his results are completely up to him and the effort that he takes and his background and his knowledge. So your results may vary. That being said, if you enjoy this type of stuff, these business breakdowns, these Cash Guys episode, you'll definitely want to check out this one.