Innenarchitektur-Firma skalieren

0:00Unternehmer/Gast Sarah, >> I Yes, I sell interior design and wellness advisory services to ultra high netw worth families and family offices. >> Okay. Love this. >> I am I am that. [laughter] >> Yes, >> I'm the avatar. >> Exactly. You are my avatar. >> Yeah. Okay. What's >> Robins? Actually, >> what's what's revenue?

0:23>> It's currently at 1.6. >> Okay. and I'm looking to be at 10 million by end of next year and then scale this to 250 million in the next 10 years. >> All right, let's rock. What's the problem? >> So, it's a little bit of a Van Western Dorp um issue where I'm building out this ladder and I have a question about the pricing structure basically. Would you a or Tony Robbins buy this ladder?

0:50Um okay, kind of the constraint I have right now. I want to know it before we scale it. Okay. >> So, I have three tiers. The first one is the lowest and it's $80 a square foot >> for renovating or building a new home. And that includes all of the construction selections, the drawings, the furniture layout and selections. We incorporate um about a dozen different layers of wellness and we collaborate with the builder and architect. So, that's tier one, $80 a square foot. And the whole vacation is that we convert their home into a wellness sanctuary. So they don't have to leave to go to a wellness retreat.

1:30>> Okay? >> And tier tier two is a 7 to10 year commitment across their whole real estate portfolio. >> Okay? >> And it's a $100 a square foot because we do everything that's included in the first tier. We also add um strategy across the residences, a plan for sequencing. the rates are locked in across that time period and we do like a property review to make sure every function of each property is in alignment. And then the final tier, tier three is the other two tiers plus more of their whole ecosystem. So we advise on their yacht, their plane, their offices. Um and they get curated annual experiences like we'll go to Italy and pick out their slab um for their countertop. Well, meet the artist in Vienna, whatever it is. They get priority placement. They get a 15-year road map and they get annual council reviews where they've had a life event, um, a baby, an injury, and we're presenting to the board about, um, you know, what we'd recommend. So, they get priority.

2:39>> And what's the price on that? That one is $100 a square foot as well, but there's a 200k uh stewardship retainer annually. >> Okay. Have you sold many of these? >> No. Well, short answer, the top two, tier two and three are what we're adding. The tier one we've been doing for 20 years.

3:06Alex >> So, that's what I'm I'm like, I don't know. I've run this through the AI like few different ways. I just don't know how to build this ladder. >> Yeah. Well, I'm not actually sure if a ladder is the approach I would use with this with the business you have. >> Okay. >> Cuz when you talked to me through all all three of those, the first one made a lot of sense and the other two I was like kind of squinting a little bit. Um

3:37>> Okay. Because fundamentally, let's say you did tier one and then I said, "Hey, can you do my yachts, too?" You'd probably be like, "Yeah, sure." Right? And it would just be like at tier one. And so, for fractal pricing to really work, it needs to be like five times the price. And so, like going up by like 20% that's like it's too it's too undifferentiated. Does that make sense? >> Yeah. >> And also for me, 10 year 15ear commitment sounds very heavy. >> Okay.

4:02Alex >> Like I think the richest people in the world want flexibility. We want options and we want speed and we want to make sure that it's very easy and that when I pay you I don't have to redo it >> because then I would hate you. >> Right. >> Right. So, and the goal is >> like I want to be working with families >> through all their generations. I want to be doing all their properties. So rather than them hiring a designer in Spain and Dubai and New York, I'm doing all their properties.

4:30Alex >> So here's what I think you should do. I actually think your annual retainer should be dimminimous. It should be like a rounding error in this project. And the reason for that is, and I I'll explain why. So, we do this in home services a lot. And the way that it works is like if I sell you a $100,000 thing, right? I would say, "Hey, you know, we do a maintenance plan for $500 a year." Um, and it's a again, it's a tiny percentage of the thing. And it's because you don't care about the money. And it should be positioned as insurance. It's like I'll come by once a year just to make sure everything's working the way it should, all that kind of jazz, right? And it's like that's what most people do anyways. And so what it does is it gives you an excuse to always meet with them every year. And as soon as you walk into a rich person's house and you're an established vendor, they're going to have [ __ ] for you to do.

5:16>> Okay. >> So to me, that's you probably need more continuity or want more continuity, I'm guessing, in the business. >> Yes. But I want to help people at a deeper more integrated level almost like a fractional board advisor for their properties. So like we don't replace their estate manager, we partner with them. >> Yeah, I get it.

5:38>> I guess my concern that makes me nervous is that I don't want to be like just doing, oh, we're going to, you know, will you help us refresh our bathroom or redo the kitchen and like small renovation projects. I want to do the whole home. I think that that's all going to come down to like the the how rich the people that you're talking to are. You know what I mean? Um and as as much as I may you may hate to hear this, like the big the small jobs get the big jobs.

6:10Alex >> Yeah. >> You know what I mean? So >> I do hate to hear that. >> Yeah. But the thing is is it doesn't mean they're less profitable, right? And if if you think about it as like this is me maintaining the business so that in three years or one because the thing is is rich people buy houses and yachts and planes all the time, right? And so like every year they're going to buy something or every other year they're going to buy something. So if it's an off year, you still make money. You still keep the relationship. You're still top of mind. And then I would like when I go there I'm like, "Hey, what else do you have in the in the pipeline of acquisition that we need to be looking at?" And then that you can price that way because like fundamentally your pricing already scales with the size of the thing, right? So you could have like a yacht pricing, a jet pricing, and a house pricing. That would make more sense to me um than having these tiers.

6:51Alex >> And then >> Okay. >> And then the maintenance plan I would weave into it. You don't call it maintenance. Call it street, whatever. Whatever you want. It's I'm coming by once a year. I'm going to make sure your shit's not [ __ ] up. >> Um but then when I'm there, I'm going to ask you what other [ __ ] you got going on. I'm going sell you more [ __ ] >> Okay. So, it's more of here's my core offer and then I have a continuity plan that is just included and it's like an annual retainer

7:16>> and okay and then I can figure out some really great inclusions to include with that. Do you think that the $80 a square foot for the core offer I figure we typically do 10,000 square foot home? >> I literally did the math in my head. I was like yeah I was like okay 800 grand. Um, it's funny because when you said the $80 a foot, I I wrote it down and I was like, the first thing I'm going to tell her is that this number means nothing to me. >> Okay.

7:42>> And what I mean by that is like I don't know what $80 a foot is. I' I the the likelihood is most especially new customers, this will be they're they're either going to only buy from you because you're a referral, right? Uh or they're pricing out three different people. And at the end of the day, if you come up more buttoned up, more professional, better finishes, better looking aesthetic, you'll win the business, >> right? >> Because they're they're coming to you not because they're trying to save save money. They're coming to because they want they want the best [ __ ]

8:12>> right? And we've decommoditized ourselves by saying we're a wellness advisory, which positions us really as a only one in the world at this point, right, >> that deals at the level of wellness that we do and interior design. >> So, we're not a commodity and they can't really price this out apples to apples. >> Sure. >> So, it's opened a lot of doors, including with like the Rockefeller family office, but >> I I just want to get, you know, the pricing dialed in. So, you're saying that if I were to pound a family off like their CEO,

8:43>> if you said a hundred a foot or $80 a foot, I have no clue. They're just going to do the math and just figure out how much it costs. You know what I mean? Like it it means it's whatever. >> But giving them that formula is okay. I think like >> it's just going to do the math. It doesn't like you could have that be internal and just price the job and send it to them. >> Well, yeah. Yeah. I want to like give them something so that when they get on the call with me,

9:10>> they're not completely blindsided. Like I'm trying to set the expectation of, yeah, we do $20 million minimum for the value of your home and >> you know, like >> I think if you set that up >> value, >> again, I don't think the $80 really does much. Um, but if you set that expectation up front that like we only deal with ultra ultra high net worth and family offices and it's $20 million plus, you know, estates minimum, they're arguing to guess that you're more than 100 grand, >> right?

9:37Alex >> Yeah. >> Right. >> Okay. >> So, I would I would I would not do this ladder. I would have maybe I I don't even really care about the ladder in general. You're going to price your jobs because you're so bespoke anyways. >> You're bespoke. And so, I think the key point is like sell whatever you can get away with. A lot of people like if you're a soul at the table, as long as you give them exactly what they want, they'll love you. Add in the continuity so they can keep getting business from them and it'll stack year over year.

10:02Alex >> Okay. Okay. Well, I'll just go $100 a square foot and the continuity and figure out some awesome features for that. And >> 100's a nice simple number, right? Very easy to do the math. >> Yeah, super easy. Do it in your head. I love that. Okay, amazing. Thank you so much, Alex. And I'm coming to L1 in March, so I will see you soon. >> Rock and roll. Appreciate you. Appreciate you. Take care. >> You bet. Real quick, I'm going to show you the exact 10stage road map from zero to 100 million plus that less than 1% of companies finish. I've now done multiple times. And so I can say with a lot of confidence that these are the stages as headcount increases that you need to get through. And I broke each of these down by eight different functions of the business, what the constraint feels like, like what are the symptoms of it when you're going through it. And then what steps we actually took to graduate.

10:48And we've done this across software, physical products, uh, service businesses, brick and mortar, all of this, and it works. And it's my gift to you. It's absolutely free. And so the link's in the description, but you just go acquisition.comroadmap. Just enter your info and it'll spit it right back to you. Offering.