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Most Problems Can Be Solved With More Advertising
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Key takeaways
- Um it's going to like every business is demand constrained.
- You're either demand constrained for customers or you're demand constrained for talent.
- And so, once you realize that like all businesses have advertising constraints, is it am I doing outreach for customers or am I doing outreach for talent?
- Am I doing running ads for customers or am I doing ads for uh people, right?
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Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00Hey, my name's Alex. I sell luxury homes in Texas. I do uh >> Me, too. No, no, not the luxury homes. The Alex part. We're >> I do uh 10 million revenue that I'd like to get to 30 million. >> Okay, uh 10 million in revenue, so that's that's not home that's not home volume. That's your commission percentage. >> No, it's like six homes at 1.5 million each. >> So, you're doing 10 million like you've sold 10 million dollars of homes.
0:25>> Correct. >> So, $600,000 whatever or less than that, you know, 4 400,000 thousand-ish in commissions. >> Uh net take home is 2 million from the 10. >> You build them. >> You build, thank you. >> Build luxury homes. >> My bad. I heard sold luxury homes, and I was like, okay, understood. Got it. So, 10 top line, two bottom line. Um and now I'm sorry, now I'm back to reality. What was uh what was the goal? >> The goal I'm trying to get to 30 million.
0:52>> Okay. >> Uh my question is how do you attract the top A players and bring them on? >> Mhm. It's going to still be the It's just we got a lot of a lot of people questions today. Um it's going to like every business is demand constrained. You're either demand constrained for customers or you're demand constrained for talent. And so, most problems can be solved with advertising. It's just who are you advertising to?
1:20And so, once you realize that like all businesses have advertising constraints, is it am I doing outreach for customers or am I doing outreach for talent? Am I doing running ads for customers or am I doing ads for uh people, right? And so, how do you find them? You find them the exact same way you find customers. >> The top players? >> It'll be outreach, primarily. You can still find A-level talent, but if you're looking for like leader leaders, then it's outreach.
1:45>> I'm just looking for a top A player in terms of sales. >> Okay, well, yeah, I mean, sales what I was mentioning earlier is super applies. But are you looking for sales to sell people on the jobs? >> Yes, the custom home, correct. >> So, you did six last year? >> Mhm. >> Did you do the sales? >> Yes, it's it's just me and the guy. >> Got it.
2:08Um could you do 18 sales in a year? >> Yes. >> Okay. >> The operational side is not a problem. >> Okay. >> The building side is not a problem. It's the problem of finding just one good sales person. >> want to get your time back. >> Correct. >> Got it. Okay, heard. Um you're it's going to be outreach and I would literally just reach out to other construction sales people who sell luxury.
2:35>> And I've tried that with a nice professional formal letter because of from what I did. >> Okay. >> To bring them on and say, "Hey, if you like the opportunity." And it didn't work. So, I was just wondering >> Do you like Sales Navigator LinkedIn DMs? >> Uh no. I just looked at, you know, the top producers in my area and say, "Well, they're their obviously working." >> I would expand the region. Okay. I would offer relocation packages um for people who are really good. I would use LinkedIn as primary method though.
3:05>> Okay. >> For sure. All right. I know that was a very easy one. >> Thank you. >> I'll say this before you before you jump off. Um most people here suffer from insufficient volume. It's that you're not doing nearly enough. It's like I I don't know how many I reached out to, but it's like I reached out to 15 of them and nothing happened. And so, it's like you just need to add like two zeros to effort and you'll get what you want.
3:31I'll be real. That's like what it is. Yeah. If you are a business owner and you are not growing as fast as you like, I'd like to give you a free gift. So, my team and I put together the $100 million scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly, where they got stuck and how they got past it. And so we broke it into these 10 stages and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources and finance. And so no matter what you're struggling with, someone else has already struggled with it and solved it. And so I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information and if you want us to actually help you deconstruct your business and you're trying to scale, we'd love to help you out. On the thank you page you can just book a call with my team and we will look at the business, see if we can help and if we can, we'll invite you out to Vegas and we'll do this in person live.