No One Cares What You Used to Bench

0:01Tyler. >> What's go What's going on, dude? >> What's wrong? >> I'm looking into getting weight loss for moms. >> Are you serious? Oh, sorry. I was like, Jesus Christ, dude. I do another weight loss business. I'm going to >> No, dude. Uh so, I sell acquisition systems, predominantly the IGMD IGDM funnel to content creators. >> I literally just saw the thing behind you. Jesus. All right, got

0:26>> Um [laughter] yeah, that's from Sio, Kaio. >> Yeah, Kaio. Yeah, all right. >> Um so, I sell I sell acquisition systems, but mostly the IGDM funnel to content creators that have strong organic followings, but struggle to monetize their high-ticket offer. The problem that I have is getting clients consistently amazing results. And so, the activation point I've deemed is if they hit a record month in their business with cash, they seem to stay forever. If they don't, then it's basically like three, four, five months, depending how well I can navigate the um

0:59>> Yeah. >> relationship. But, that's probably what I'm running into. I keep trying to raise price, I keep closing, and it's just more pain in the plans. So. >> Yeah. Um it sounds like you just need to nail the first 30 days. So, basically, there's two two components. One is uh who they are, and the second is what they did. And so, if we have a specific type of avatar that consistently does better, and those people do a set of set of things, then it's like, how do we get only those people to only do those things so that we can get as many of those people as well. Fundamentally, Jim, it's the same concept, right? Which is um our average cash collected for the first 2 years, I think, was was $30,000 in the first 30 days using our stuff. And then, I think over time, cuz uh CAC went up just from ads and whatnot, I think like, as of right now, I think it's something between it's like 15 or 16 K uh in the first 30 days. Um but, for us, we just knew if we got somebody to close a high-ticket sale in the first 7 days, that like, that was the emotional shift.

1:58As they go from selling, you know, $500 things or $100 things to all $2,000 things. It's like, "Holy shit." You know, it's like their whole their whole paradigm changed. Um And so for you, it's probably similar to that. And so the the churn bucket, it's like something that's just helpful in terms of thinking about churn is like churn feels like this big amorphous monster, but it's much more how do I get them to 6 months? Like churn after 6 months of all across all memberships is 2% per month.

2:25The issue is people look at blended churn between all different cohorts. And so they barely get anyone to the 6-month mark. But people past month six, they churn at a very very low rate. So it's really not how do I cut churn in half, it's how do I get them to 6 months. It's just so much easier frame to to think through. And so that means that the first 6 months needs to be very very curated. And the three drop-off points are day 30, day 90, and then at 6 months. Those are the three points that you have to like drag someone through. Um And so do you give them the offer to make?

2:55>> So So there's two primary people that I work with. The first is that they're brand new into high-ticket sales and they they have a very vague offer. Them, yes. The second is like fitness coaches is a great example, where they they already have an offer, they already have a lot of stuff, and I just run it for them better. I tend to get better longer-lasting results and and like better clients from the first. But they're technically smaller and I have to do more for them.

3:25>> Basically, you want as much of this to be as turnkey as possible, so that there's just fewer variables for them to mess up. >> So the the first group where it's like, for example, I have a client that had basically, he's done like 300K over the first 6 months, and prior to that, he did like none. And uh he was able to sell. Like I get him people on his calendar and he can close them. He just keeps increasing price.

3:50But if they can't sell, then it's like Well, it matter how many people I talk >> Then then maybe one of the requirements for working with you is that they have sold someone before. >> Does it matter the ticket price? If they're typically like >> if they've gotten something if they've gotten someone to give them money I mean, it'd probably just be over the phone. I'm guessing.

4:14So, that would probably be the requirement. Again, it's like I want to find the simplest thing that that separates the winners from the losers. And then you just re-engineer the funnel to say that up front. Like you have to have these three things. >> Mhm. Okay. >> You must be the same >> then forego forego the people that can pay it full and like technically a bigger clients are not as good.

4:41>> Not as good because they don't make as much money? >> Um the bar is higher to keep them around longer. A lot of a lot Other people that have done DM funnels in the past, they're like, "Dude, 2 years ago I did 80k in a single month. >> Yeah. >> If you don't do that, I'm not working with you." Versus >> Well, I think this is an expectation thing. >> sold." >> Yeah, it's an expectation thing, though. It's just like, "Yeah, 2 years ago." And then what have you done last month and the month before that and the month before that? Okay, great. So, let's set let's set appropriate expectations here because like no one cares what you used to bench.

5:12>> Mhm. >> [clears throat] >> Mhm. Okay. >> But the question is what's the limiter of the business? >> Um the limiter is the pickier I get, the harder it is to get customers in the door. >> I mean, that's how >> The less picky I am the lot the less they stay. >> Mhm.

5:36>> The right now right now customer acquisition is we partner with like companies that teach people how to do DM setting foreign like uh Eastern European things like that. And we have them coming in to cold outbound for me. So, we're sending 3,500 4,000 messages a week to ICP. And then they go through a funnel, show up on my calendar. >> Mhm. >> But if they're too big, they're either already going to have a setter or they're uh yeah, just not not even going to see messages via cold outbound.

6:09>> Yeah. I mean what stops you from doing 8,000? >> Yeah, we're we're slowly growing that. Slowly is a is the wrong word. We're we're actively pushing that really hard. Getting to >> I mean, either sell more units or you make them worth more, right? That's the like that's the game. You sell more units, you make them worth more. Like those are the two levers that you have.

6:35And so, if we're not changing pricing anytime soon, then we have to sell more units. Like the 4,000 DMs that are getting sent is a relatively arbitrary number in my mind. You could have said 100, you could have said 100,000. It's just same same. You're not going to run out of people though, I promise you that. >> Okay. >> So, yeah, I think you could get more aggressive on that side. As long as they have a scalable solution on that side, there's like really nothing to stop them, which is why I'm a big fan of outbound in general cuz it scales linearly.

7:02>> Okay, so get more cold outbound. And then the second piece is uh set better expectations with people that have already done well in the past. And the last piece is uh make it more turnkey. >> On the offer and [clears throat] fast closing side. Yeah. And I would probably ask more questions on the application around their their experience selling [ __ ] >> I should Okay. >> And then you can set expectations. If you've never sold, dude, it's probably going to take you a month to learn how to sell. And we're just going to It's okay though cuz it's

7:33>> Oh, no, I I >> Yeah. >> Oh, you mean them selling. I was like, dude, I've sold a lot. >> I I'm saying but them. >> Yeah, yeah, yeah. >> Right? So, you have to just you have to set the expectation. Like people only leave when the expectations don't align the reality. So, the goal is and this is the this is the push and pull of selling, which is you promise really high, then you get more closes but people back out because you promise really high, right? Um the perfect world is that they everybody just buys but then they don't buy at the price you want because you promised nothing. And so, this is the the the delicate balance, if you will.

8:03>> I see. I understand. Thank you. >> Yeah, you bet, man. >> I appreciate you. >> Mutual. If you like this video and you're a business owner who wants to break through your current revenue ceiling, I distilled every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling road map that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so, you can click here and you can check it out. Again, absolutely free. And since you're a business owner, appreciates you and enjoy.