A $19 PDF vs. a $3,000 Personal Trainer

0:00Of all the ideas that you've put out into the world, what are the the sort of headline ideas or questions that you found to be most compelling to people? >> Almost all the core concepts in this book come down to figuring out who you want to sell, what you want to sell them, and how to get them to buy. And most of my content focuses more on acquisition since the vast majority of small businesses say one to 50 million.

0:27>> Mhm. [laughter] >> Not always. Um but I'd say 70% of businesses, this is rough estimates, that come through our doors are demand constrained. They could use more customers than they than they have. 30% are supply constrained. The phone's ringing, but they just don't have enough account reps, they don't have enough technicians, whatever it is. And so, what's really interesting about this all of these books when taken in aggregate is that every problem is a marketing problem.

0:53And I'll And I'll sell you on this idea. So, if we were to think about a business as Okay, we've got lead gen, >> Right. >> as activity number one, we've got nurture as number two, we've got sales, uh we've got uh onboarding, and then we've got retention / ascension, right? Getting them to keep paying and getting them to buy more [ __ ] Now, this is the demand side for customers, right? Everyone Hopefully everyone's kind of aligned with that.

1:23Now, if you're supply constrained, which means which means that you uh have more customers than you can handle and more people are interested in your stuff. Let's say you're the solopreneur and you're like, "How do I like There's only one of me. What do I do?" Like you're you're supply constrained. If you had unlimited you, you could make more money, right? So, what's the equivalent version of this? On the supply side, you've application generation. And then you have application nurture. >> What's that What's that mean, application nurture?

1:49>> Basically, we're working these leads. >> Yeah. >> We have these applicants, we need to get them scheduled, we need to get them booked, we need to make sure that they're not getting lost in the process, you know, like how how quickly we line these interviews up, all that, right? We have the interviews themselves, which is the sale, right? And then we have onboarding, like you do for a new employee, and then you have retention. And then the ascension is they're go- they're going up, right? Are they Are they Are they Are they moving up? Which means that you just treat humans the way you treat humans in a pipeline in a business.

2:19And so if you have a demand problem, but you know how to get employees, then do the stuff that you get to get employees to get more customers. If you know how to get customers, but you don't know how to get employees, use the exact same process, which means who's writing the copy for your your ads and your promotions and your outreach attempts? Well, somebody probably should take a look at it. If you haven't looked at this, by the way, and you're slightly bigger business owner, you will be horrified by the outbound messages that are getting sent on your behalf to people. You'll be horrified by the job postings that your company is putting, and you're like, "No one would

2:54>> respond to this. How would you think this would work?" >> From a nurture perspective, the leads aren't getting worked. No one's following up. We're not giving them any materials to sell them on our bus- just like you would with a prospect. Like, why don't we have case studies? Why don't we have a video sales letter that tells it tells the whole business? So every person comes in acquisition and watches a VSL for me, and it's a 13-minute thing of just like, "Here's how the business works, and it's This is not real estate arm. This is like" And it shows everything. And like I'm giving proof, and this is John, and John's an employee, and John loves it here, you know, whatever. And so then in the interview itself, it's like do you have a script? Well, you have a sales script, why would you not have an interview script?

3:31>> Mhm. >> Pre-canned questions. Do we role play this? Oh, we role play this. Isn't this just as important if not more important? Is there more leverage on getting one 10 out of 10 talent person than just one customer? Yeah. On the onboarding, are we just Do we have any process? Do we have 30-60-90 of what what's going to happen over the next 30-60-90 days? And what is required for them, and what information do they need to consume so they can become proficient. And then, once they are on-boarded, what's their what's their career path look like? How do they Like, one of my favorite questions is, when I have somebody I like I really like, um I'll say, "What would it take for you to work here forever?"

4:06What would it take? Just tell me what it take. I can say no. Just tell me what it take. And then, I can start moving the pieces around to figure out how I can get this person to stay forever. But, the same thing happens if I have a a a customer that I like a lot. Like, "What would it take for us to be your your sole provider forever?" >> Mhm. >> Especially this cuz I know you have more enterprise experience. Sometimes saying, "Hey, let me be the sole provider. Let's get Let's go exclusive. Let's lock in a 3-year contract, and I'll give you these other things for free if we lock in it.

4:31And I'll never work with Yeah, these three competitors." Yeah. And so, almost all problems in business can be solved by more people finding out about your stuff, either to work for you or to buy from you. >> Mhm. >> Which also means that you probably have ongoing marketing to your customers. Think there shouldn't be ongoing marketing to your team and employees? Do we want our customers to give us referrals? Yeah. Do we want our employees to give us referrals? Do we have a incentive for people to bring referrals? There's a great story.

4:58A friend of a friend had a had a uh $10 million-ish a year business. He talked to somebody in the exact same space as him, uh who's way further ahead. And he uh he was in business that had like agents uh that worked for him like kind of like a brokerage. And the mentor told him, "So, what's the incentive that you have for your agents to bring more agents?" He's like, "Oh, I you know, I pay them 500 bucks if they bring a new agent." He was like, "Okay. What do you make on a productive agent per year in gross profit?" It was $250,000 a year.

5:26Productive agent. Gross profit. He's like, "So, you're only willing to spend $500 to make $250,000?" He's like, "What would you spend for $250,000?" He was like, "I mean, I don't know, 50 grand." He was like, "Yeah. So, why don't you make your incentive 25 to start?" So, he took his incentive from $500 for a referral to 25,000. And he took his company from 10 million to 400 million. >> Yeah, it's crazy. >> [laughter]

5:52>> I think about this a lot. Even with like recruiting, like people are like, "Oh, head hunters cost a lot of money." I'm like, "Fucking hell." For really exceptional talent, it's almost >> It's always a deal. It's always a great deal. Going back in time, if I were to give the the like what has changed about uh me then versus me now, is that my standards for talent are significantly higher and my tolerance for letting someone be mediocre and stay are lower.