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Key takeaways
- So I don't need a lead to be profitable within 30 days.
- That doesn't always happen but I still have had it happen in so many businesses that it was not typical that I still try I I don't accept the premise that it can't be done.
- I just prefer to say like okay well let's live in a reality where it does happen and what would that reality look like?
- It's like, okay, so we're going to sell a $10,000 tax assessment first and then once we have this complex plan, we say, would you like us to help you implement it?
Chapters
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0:00
Abschnitt 1 What do you think people have to do or consider?
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0:24
Abschnitt 2 So that's thing one.
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1:15
Abschnitt 3 The problem is where you have costs that you incur in terms of servicing a customer and you had the cost of acquisition and the cost of servicing and this is where this is where yo
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1:50
Abschnitt 4 So that that way I can take all the cash it took me to get that person and then just get the next
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00What do you think people have to do or consider? Let's talk about professional services itself to get it this 30 days profitability on those lead close after 60 to 90 days. [sighs] >> So so a couple things. So one is we're thinking about this from the frame of a customer rather than from a lead. So I don't need a lead to be profitable within 30 days. I prefer to have a customer. So cost of acquisition.
0:24So that's thing one. Um the second thing is like this is an ideal that I strive for and the objective is that if you can do that then you can self finance the acquisition at basically infinite speed. That doesn't always happen but I still have had it happen in so many businesses that it was not typical that I still try I I don't accept the premise that it can't be done. I just prefer to say like okay well let's live in a reality where it does happen and what would that reality look like? And so like maybe in that professional services thing, let's like we do, you know, we're in tax and accounting. It's like, okay, so we're going to sell a $10,000 tax assessment first and then once we have this complex plan, we say, would you like us to help you implement it? And it's $1,500 a month, but we offset CAC up front. Maybe it takes two months for them to get to that sale. But upfront, I'm okay with it taking a while for a lead to convert because the cost of nurturing a lead is low.
1:15The problem is where you have costs that you incur in terms of servicing a customer and you had the cost of acquisition and the cost of servicing and this is where this is where you're losing real money, right? Versus like the cost of me sending more emails to nurture someone from engaged to qualified to closed is usually pretty minimal. You might have some sales resources depending on on a super high ticket B2B thing, but it's still going to be minimal compared to compared to delivery. So for me, once someone makes the transaction, that's where I I have 30 days to try and make sure that I offset all of the costs of acquiring the customer and delivering that customer.
1:50So that that way I can take all the cash it took me to get that person and then just get the next …