Nebenprojekte stoppen und aufs Kerngeschäft fokussieren

0:00All right, tell me about Vibes Creative. We got 5 minutes. I want to help. All right, talk to me. >> Awesome. So, we're a video podcast agency based on Australia and we grew our business mainly on completely done-for-you services. >> Okay, so done-for-you podcasting. So, you So, people send you audio clips and you just post them. >> Video clips of the podcast, so video podcast. >> Yeah, heard. Heard, heard. Okay, so they send you video clips and then you done-for-you make them into podcasts.

0:29>> Exactly. So, we do everything regarding the strategy, production, posting, and all that stuff. >> Heard. Okay. >> And we started coming up with the licensing now of our systems, which we tested and it worked really well for the first person on scaling their business. >> Okay. >> Now, we have added few other people on it, but we're struggling with now with the results of some of them because it seems like we are almost overwhelming them. Like, we're doing

0:59>> See, why did you do this instead of just Why didn't you just like keep growing the business that was working? >> Great question because basically it is quite complicated to scale it. Well, yeah. Eventually, like profit is is about 40 to 50% with it. >> Okay. >> still do it that way, but it it just seems like the licensing could be a bigger opportunity to scale to a million-dollar months, which is the goal that we have right now.

1:27>> Okay. >> totally wrong, though. But, the licensing, which is an 11K offer, >> Yeah. >> Yeah, that's what we've been thinking in order to scale that. >> I'm not in love with it, to be honest with you, man. I mean, you're running 40 50% margins, right? In your main thing and then you kind of started this new like side hustle deal.

1:52>> Is it a distraction, then? Or or I mean, >> Yeah, I think so. You have a good business. It's like if you took all that attention that you've been spending, all of it, and just put it on how do I get more customers in cuz I I would imagine that your churn is relatively low with the uh podcasting done for you, right? >> Yeah, yeah, clients stay in at this point, most of them past 12 months. >> Yeah. >> 12 months agreements and every 10 90 day love it or leave it policy in place.

2:17>> Yeah, heard. Heard. Yeah, I do I think um I think you're you you you have you have you have a golden goose that you have 12% you know 12 12 month stick. You've got You've got 40 50% margins. You're doing one you know 1 million plus top line. You just took your eye off the ball, man. You have a good business. Just grow it.

2:41>> This this is this is my thing though. It It feels like right now that just adding more clients is kind of like it it's the hardest way to do it with the completely done for you. >> Do it what? >> And the and the team you know way is also overwhelmed with at the level that we do it. >> Dude, it's just a fast cash thing, man. Like right now like you did the licensing thing and it's just like like do the business. You know, I mean you you Do you Do you like Do you want this to be a long-term thing?

3:14>> Yeah, absolutely. We're We're We're aiming to build the number one podcast agency in Australia and then >> Well, dude, if you want to build the number one podcast agency in Australia, don't like just build the number one podcast agency in Australia. I know how attractive it can be to just go sell something that's expensive. I get it. But like the team you said is overwhelmed right now, but that's like like then you just hire more people to the team.

3:41>> The thing The thing is like it it feels like it's almost not the right way like as an example like the goal that we set up is okay, we're going to launch 10,000 podcasts. And if we do it as a done for you like we're doing it right now, which is basically for that offer now we charge 10k per month for it. So we're selling it to, you know, seven eight to nine figure entrepreneurs. >> Yeah. >> It just feels that we won't be able to get there, right? The goal of the done-for-you that we set up is like, okay, let's find

4:11>> What if you have 100 clients? >> So you reckon that that's that's a better way to go like just add 100 clients on the completely done-for-you? >> Well, I will promise you that doing both will decrease the likelihood that you hit you hit either. So if you insist on doing it, then I would say go all in on it. But I still think the thing is the thing is is like right now it's shiny and it's new and you just don't know the problems that exist with it yet because you haven't done enough of it. So it's like you're comparing all of the issues of this this girl that you've dated for a long time and then you've got this new girl that walked in your life, but you just don't know that she, you know, is crazy and then she has a crazy ex-boyfriend and then she's got all these all these other issues. You just you know you have one devil you know and there's another devil devil you don't and you just see the exterior, you don't know the interior yet.

5:03Like this is shiny object. Like this is how it works. >> So then would you if you were in my position, right? You did it successfully with GymLaunch. >> Yeah, but I didn't own any gyms. I didn't own any gyms. >> And then >> And also GymLaunch also with GymLaunch I don't necessarily know if the the decision I made was the best decision.

5:30It was just the decision I made. Like and you already have a nationally scalable business. Like I I was constrained by by local which again anyone watching this there's nothing wrong with being constrained local. I thought it was a limiter, I was wrong, but whatever. So point being you just have to get 90 more clients and here to a million dollars a month. Like that's not like crazy.

5:54>> So, would it be better then to just focus on getting 100 clients and completely done for you, forget about the licensing for now? Is it Do you think that that's the best and most efficient path to hit million-dollar months with this instead of doing the licensing, which is obviously is way more profit and we can launch way more podcasts because it's more about passing on the systems, the templates, and we're getting training and placing

6:23>> But but you're Let me make sure I want to make sure I'm understanding what you're saying when you're saying licensing. Are you just saying that you're selling for $11,000? Like you're just giving them stuff like are you feeding them clients? Are you just giving them systems to get their own clients? >> So, what we do on the done-for-you system, we basically pass on to them and we help them one-on-one for eight weeks to install it and running and we get training and place the video editor and social media manager at a stupid cost to run it for them. So, all they do is basically be in front of camera and then we offer on the back end of that consulting

6:59>> Wait wait hold on hold on hold on. So, I'm going to make sure I understand this. So, you're not Okay, so you're not helping people start podcast agencies. You're trying to help people do their own podcast. >> Yes. >> Okay. Where's the recurring on this? >> Okay, the recurring in the back end is we place a video editor and social media manager for them to run the system so they don't have to do all the level low-level activities, okay? And there is a 50% margin on that.

7:28>> Okay. >> And on top of that, they can add their skills to make more content with that team or they can or they can stay on consulting. >> What do you what do you what do you what do you You say on consulting with you? >> Yes. >> Yeah yeah heard heard heard. Okay, got it got it got it. >> Okay, so um I'm I Now I understand the offer better. I thought you were trying to get help people start their own podcast agencies. So, I was like, "Dude, what are we doing here? Just, you know, like just grow your agency." Yeah, yeah, yeah. Okay.

7:55Okay, that that This makes me feel significantly better. Um I'm I'm not against it. I'm actually not opposed to it. This makes a lot more sense than the first thing I thought you were trying to do, and that's why I was so against it. Um Yeah, I'm I This This is fine. I'm okay with this. And you just want basically you want to switch your front end, right? You just want You're just going to sell this instead. >> So, we started already, and we have got about 10 people. >> Okay. >> The first person that we got has tripled the business, and they stayed with us over 12 months of this program. So, that's proving the concept.

8:25>> Yeah. >> Now, we're just trying to Basically, we noticed that we're having drop-off on the retention, and people are not sticking to doing the things because essentially we're going We're just launching their podcast and placing the team on all of this stuff. But, we're also helping them launch their ads for them to start getting leads ASAP, and then building as well the back-end funnels and things with them. >> Sounds like a lot of work.

8:51>> our systems. >> And that's easier than just Yeah, that's easier for you? >> And well, >> Oh, shoot. I've gone way over on this one. Yeah, okay. >> on getting them bigger results. >> Okay, I get it. At the end of the day, man, all all we have to solve for Let me just tell you all you're solving for so you can answer this with the math question rather than a feeling question, all right? Um and then I got to go to the next one, but what we have to solve for is that you need to have the maximum LTV and conversion rate. So, basically, if you have something that sells to more people that more people want, which is what it sounds like this is, that sound right?

9:29>> Yes. >> Okay, more people want it. So, you have higher conversion rate. Fine. Is lifetime gross profit on this offer superior to the other offer given the back end. >> Absolutely. >> All right. Well, then yeah, you have then it's it's a superior model fundamentally. So, more people want it, more people convert, and they're worth more. That's a no-question. And so then the then the issue that you're going to deal with right now is you just have to transition from the the old business to the new business.

9:55Um and the way that I want you to do that is just keep selling this on the front end until eventually this surpasses the total revenue and profit of the other business, and then basically just don't replace the customers on the on the done for you side, okay? Just don't replace them. Just keep selling this instead. Does that make sense? >> Yes. >> Okay. >> We're looking to just get like a small group that can eventually become, you know, the next Alex Hermosi we built on for you. >> Oh, cool. And then all you have to do, by the way, is if you get done for you clients, just sell them into the base of these other podcasts, and then just take a spread. And then you have 100% margins on that. Cool?

10:31>> Got it. >> I thought that was pretty clever. All right, rock and roll. Appreciate you, man. Thank you for donating books, and uh >> Thanks again. >> Thank you, dude. All right, see you. If you're 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 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 deconstruct the business and you're trying to scale, we'd love to help you out. On the thank you page, you can 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.