Five Services, One Profit Center

0:00What's up? >> My name's Bill. Our company is F and D Piers. It's Fast and Dependable. >> Was it? >> Uh F and D Piers. It's Fast and Dependable, not Fat and Diabetic. >> Fast and Dependable, not Fat and Diabetic. >> Yeah. We do >> Is this health related? >> It's not. >> Okay. >> [laughter] >> Nothing to do with it. It's like we make shelves. You're like >> Yeah, we're uh we're in construction. So, this >> [laughter] >> this column right here has a hole under it or a helical or something to support it. The engineer stamped and they liked it, so we provide that service.

0:27>> The engineer that stamps it and likes it. >> Correct. Yeah, we provide We're not the engineer, we're the service provider for the hole or the helical that went under this column to support your building or bridge or church or whatever structure you got. >> Okay. >> So, we're out of DFW. We're the localized experts in in this field. We do holes, we manufacture the helical to engineer standards.

0:51We deliver and install the helical. We sell the helical to other installers for them to install. We do foundation repair with the helical. We also do foam jacking. So, it's all foundation related. >> Uh-huh. >> The >> [sighs] >> services we offer it's kind of broad. And >> What's your revenue? >> 5 million. >> Five? >> Five. Profit 1.2. We're on track this year to do 7.2

1:16>> Awesome. >> in revenue and about 2.1 to 2.3 in profit. So, didn't proud of that and it's been a long road to get to to this place, so. The challenge we have right now is one of those services, the drilling, is which is what we what we started in. It's very capital intensive, very hard to train people to be very good at it. It's easy to break, it's hard to fix. But, it's also where you learn the most. It's what makes us the best.

1:43>> Uh-huh. >> So, all the insurances related to that, very expensive, train training, everything around that is it's a challenge. >> Okay. >> But, it's also the gateway to entry to get all this other work. >> Okay. >> So, because we're awesome at picking [ __ ] they're like, "Well, then y'all are good You know, if you're responsible with this, you get this." Yeah. That's That's been the model. >> Okay. >> So, the belief that we have is we're somewhat scared to cut off this uh 1 million in revenue

2:12>> But, it's your lead gen. >> Not anymore. >> Okay. >> So, we've recently It's still probably 20 to 30%. Now, it's way less than that. We'll say it's We'll say it's 5% now. >> That's much more than that. >> Okay. Yeah, and and that's a recent That's a recent development. >> Okay. Is the new thing that's replaced it reliable, fast, and scalable? >> Yes. >> Okay. >> And recently, we've learned we actually need to spend more on that. >> Okay. >> started implementing that. >> Was it Google Ads, or what do you What do you >> Yes. Yeah.

2:40>> Okay. >> Pay-per-click and the other one. >> Yeah. Local service ads. >> Yeah. >> So, but we just we just figured out how to do that. I don't have a bad partnership story, but, you know, for about 2 and 1/2, 3 years, we spent about half a million dollars for nothing. >> Yeah. >> Uh so, then now we found >> As is the way. >> Yes, it is. So, we If anybody else is doing that, you know, >> [laughter] >> if you want to make 100 million, you got to lose, you know, whatever. So, my

3:04>> Actually, this will be fun. Who here has lost money with a marketing agency? Yeah, you're not alone, man. >> We're all stupid. >> [laughter] >> Yeah. The demand for more customers is infinite, uh which is why there's a lot of marketing agencies. Okay, I'll keep going. >> So, yeah, I'd say our our uh our revenue profit goals I I don't really have a revenue goal, but 10 million in profit is really what the goal is. So, about 30 million in revenue. Maybe 25, maybe 35, but right in there. >> Okay. >> Uh for us to accomplish that, we just need more helical clients. I don't care if it comes from someone buying it and installing it themselves, us installing it for them, or uh foundation repair client.

3:38And generally, they all kind of categorize in the same space. >> Okay. So, you got PPC and LSA ads that you're spending money on, and they're working. >> Yep. >> What's helping you get a [ __ ] on that? Any idea? >> I don't. We are going to But, it's good. It is. >> You seem happy with it. >> I'm very happy with it, and we're going to get that metric in our company. I have a scorecard that we look at every week so that everybody sees exactly what's going on in the company and that's going to be on the scorecard moving forward. So >> Great. Okay. So we we just basically need to run those until the wheels come off. Like just keep scaling those until for some reason something breaks, but if you just started doing it and all of a sudden you just went like boop, then that's that's it. Like when it gets easy is when you go hard.

4:13So that this is when you want to just you want to you want to put gas on the fire. >> We suck at it right now. >> Okay, but you're doing okay. Now >> Well, so the the agency we have is getting results and justifying what we're paying for them. It's not exciting. We're excited about it cuz it's it's >> It's directional. >> What we're comparing it to is [ __ ] >> Yeah. >> it doesn't smell like [ __ ] so we're excited. >> Huh. >> Um but that that's the hardest thing of we don't we're not marketing >> Yeah.

4:39>> We we don't know any of that. So how do we pick out the BS? >> Mhm. >> Why is this not working faster? >> Yeah. >> Cuz lead generation is the problem. >> Um um but let me just ask you a different question. You're getting leads, right? You are getting some leads. >> Yes. >> Are they the correct people? >> Yes.

5:06>> But they're not necessarily buying immediately, but they are the correct people. >> No, they'll they'll We closed a $158,000 and they needed it now, brother. >> Okay. That was not a problem. >> That that is not the standard that >> [laughter] >> I'm getting your dynamic. Got it. Um The I'll I'll I'll explain why I'm asking the question, which is the hardest part of marketing across any channel is getting the correct avatar to respond.

5:36Once you have the right person who's responding, everything else is sales motion. Which is just super formulaic and I know you're saying all of this cuz I can see it on your badge. So like we're happy with that. It's just building out what's the sales motion that converts these people into buyers? As long as So, super easy to solve that, super high ROI, which is why we love doing it. Significantly harder is getting the right person on the phone. But, if we're getting the right people on the phone, this part is just like we just have to add the sweet spot on friction.

6:03>> I would say we're closing three out of 10, and one of those three >> is a monster. >> is the [ __ ] >> Yeah. >> And the other two are are great, and we're happy to [laughter] >> Right. So, I mean, you're closing 30%. I said some of the I reference earlier, 30% you're fine. Can we get it to 50? Probably with some >> Not interested. I I want 20 people calling, not 10. >> Say it again. >> I We could work our asses off to try and get 50% closing, or we could just increase the volume from 10 to 20. Let's do that.

6:31>> I mean, let's do both. >> Okay. >> Yeah. >> [laughter] >> Yeah. Let's get 10 deals, and we tripled, right? Um >> So, the the the limiting factor that we have, uh and I think it's around a belief, is the drilling business. And so, I think, in general, >> talking to to the advisors over the week. What percentage of your time is going to the drilling business? >> Oh my god. And profits, and everything else, and stress, and insurance risk. Brother. >> So, do we need a big line of permission, or what do we uh >> I think we need to split both lines, but or

6:58>> Fat Gator Tail permission. All right. So, >> Yeah. >> Uh that sounds fine. If you 5% of your revenue is coming from the thing that's 80% of your headaches, yeah, like I What's What's stopping you? >> about 20% of our revenue. >> Okay. What percentage of your profit? >> Five. >> Okay. So, 5% of your profit is And what percentage of your headaches? >> And oh, dude. >> Right. >> 95, 96%. >> 95, 96, you know, give or take, right?

7:22Um yeah, man. Just I mean, two bullets in the head. Yeah, I just think you got to be okay with it. It's just like you have to have a couple car car conversations, and then way I would do it is I would crank this. You probably have some good guys on that side, all right? And I would try and crank this so that I'm creating a supply demand or a supply constraint over here, so I can backfill it and I don't have to get rid of good people. >> That is exactly what we're doing.

7:47We need to offload some >> tab it to I think we'll have to look at the sales motion, too, cuz I want I want to look at that. >> Yep. >> I guarantee all of it is sold out. >> [laughter] >> Cuz so right now you're closing the what you're closing right now, I'll what what we'll probably look at is also like you're closing them, but could we close them at a bigger price in a different combo? And that's where it gets more exciting. >> Yeah, the science the book that we just got going to be reading that on the way home.

8:11>> It's yeah, lots big profit. It's it it it it's it's one of those things, why are we not selling more? >> Yeah, people don't know we exist. >> We're going to we're going to kick the drilling. We're going to scale this the the the good side up. We're going to take we're going to create a supply constraint, backfill it with the drilling guys, and then basically sunset that into the distance. All right? >> If you are a business owner and you are not growing as fast as you'd like, I'd like to give you a free gift. So, my team and I put together the $100 million scaling roadmap, 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 the 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 deconstraint the 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.