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0:00Alex, what's up? What it do? Nothing. All right, man. I'm Kyle. I sell outdoor lighting to homeowners. We design and install it. Um right now we're doing 1.8 million. I want to get to six in this location. A lot about what you just talked about, not wanting to go too fast um into the next. So, I think what's currently stopping me is just an inefficient sales motion. Um right now I have one sales guy. He just turned in his 2 weeks. So, I'm starting from scratch on the sales motion basically and I want to find out when should I hire that next guy? Do I get somebody now and keep trying to fix it or do I fix it and then um Yeah, what do you do? And find another guy.

0:39So, um to me this is like a a red alert thing. Now, how much of your business is recurring? Uh almost zero except for holiday lighting. Got it. Okay, so you need to solve this like now. Mhm. Do you know how to sell it? Yeah, yeah. >> Okay, so you know how to you started selling yourself and then you got the sales guy. Yeah, yeah, yeah. I have all the numbers right here if you want that. I can run through it, too. Um Not yet. So, if So, at first I was worried cuz I thought he was like the only person who could, you know, get you business and I was like that would be

1:07>> No, I'm doing about 20% myself now. Okay, and he's doing 80? Yeah. Got it. Okay, so then what stops you from >> limited time. Like I could do It's not cuz I don't know how to do it. Yeah, okay. No, that's good. So, what what stops you from uh another guy like him cuz you you need it? Uh I just would like I I think there's too many problems in the sales motion now. It's not efficient enough. Okay. >> So, I'm worried to hire somebody except myself before I try to train somebody else on something that's not even working right.

1:37All right, walk me through it and then we'll we'll go from there. Um what I don't want you to do is kill your cash flow, right? So, I'd rather have some inefficiency and still have cash flow and then we can fix it, but let let me hear what it is if there's any easy things we can pull. Yeah, cool. So, right now CAC is like $1,800 with ad spending commission. They're all coming Everybody's coming through Meta. Um the big problem I think is we're closing 3.3% of leads on the year. Okay. And the like the front-end offer [clears throat] is just we you're our featured property, we give you a big discount for being the featured home of the month. Mhm. And uh So, we added a VSL in because there was some like it just wasn't fitting. Like people were like, "Oh, I want this free thing." And we just that wasn't working. Okay. So, since the VSL um which is basically like last month, we had uh or last 2 weeks, 168 leads. Mhm. Of those, 25% were unqualified just off of home value. Mhm.

2:34>> Um 50 shows off the 120 and only closed five of those. Um we expect like three to five more to close just You talked to 50 out of 120? You actually talked to 50 out of 120? Mhm. That's great, dude. Was it in person or was this uh phone? Um in person. That's great, man. Okay, so you talked to So, I I don't think up to that part, I'm actually not that worried about It's pretty I thought that was bad. Cool. No, dude. It's Meta leads, man. Uh these are Yeah, cuz if it was search, then it'd be a different thing, but like dude, Meta leads are they're just it's it's not the highest quality platform. But you're talking to fundam You're You're talking to 50 out of 168 even if you have the unqualified 50 out of 120.

3:17I mean, we That's not where I think the issue is. Okay, what's the cost per lead, by the way? Uh 36 bucks. Okay, $36 per lead. Okay, got it. >> cost per appointment is like 140. Okay, got it. What's the um What's your What's your uh lifetime, you know, gross profit per deal? Uh $5,500. Great, man. This is awesome. Okay.

3:41Yeah, dude. $140 appointment closing a 5K thing, we can I mean, we can make that we can make those numbers work. Okay, so I mean, fundamentally you should be closing a third of these appointments and you're closing what percentage right now? At 10%. Okay, got it. So, we have like we need to do a triple. Okay, so walk me now through in more detail. So, the person comes in for the feature of the month. So, they Is this a lead ad?

4:10Uh yes. >> Okay, so lead ad, okay, and then there's they submit, right? And then is there a thank you page that they get routed to? Yes. >> Okay, so So, the thank you page has a VSL on it? Yes. Okay. VSL on the landing page and a like a short one long one. Got it. And then there's a schedule underneath of the VSL, correct? >> Mhm. Okay, got it. And then after they book, uh what happens?

4:37Uh they get like automated first text and email stuff. Um it's pretty low book rate off of that off the page. Most of those are manual reach outs to get them to >> Yeah, that's fine. That's fine. Okay, so the vast majority are not self-scheduling. That's fine. Let's just run that flow real quick. So, I wanted to say the other one. Lead form, thank you page VSL, they schedule. After they schedule, is there another VSL that you send? A mini video afterwards?

5:01>> The same VSL that's on the thank you page is the one I'm using. >> In case In case you missed it or something like that. Okay, got it. Okay, and then um either way you're reaching out to all these people even if they self-scheduled, right? I'm assuming. Yes. >> Okay, got it. So, of the people so Now Now let's go the other path since the majority of people are are are manual reach outs. You're, you know, I'm sure the speed to lead, double dialing, all that stuff. Okay, so we're getting them on the phone. Okay, now what happens?

5:27So, on we try to get the appointment as soon as possible and then here's like the one fix I'm trying to fix The one thing I'm trying to fix right now is we were not requiring the spouse to be there. So, like that was the number one thing. It's all of them were like, "This all sounds great. I have to talk to my spouse." Never hear from them again. Yeah. Um they're like the main thing. So, now in the VSL I like zoom in, need your spouse to be there. Yeah, yeah. I'm trying to fix that. So, we don't have data on that yet.

5:53Okay. But just walk me through process real quick. You reach out, you get them on the phone. Mhm. What do you say? Uh the So, the first we're just trying to schedule an appointment. >> Mhm. And then we get like we The way I word it is we just need to do a quick walk through to see if this is even a good fit. Okay. And then we go to like appointment reminders, all that. Um At the walk-through, it's just like, let's see this is either an awesome fit and you're going to get 20 lights for free and we're going to do 100 lights and it's still going to be 30K. Uh-huh.

6:26>> And you just get a basically a 15 to 20% discount or um the second option is well, like this isn't a great fit for that, but good news is they spent 30K, you only have to spend whatever, 10K, 5K and we'll give you a few lights for free. Okay. So, before you get to the house, are these people watching the VSL?

6:52Yes. How are they So, this is what I'm I'm saying. So, you get on the phone, you say, "We just want to check it out real quick." We send the reminders. When do they watch the VSL in this flow? >> that's it. Yeah, yeah. When the appointment is scheduled. Like, "Hey, we're going to meet you tomorrow at 3:00. Okay, watch this video before we come out." Yeah, sorry. Okay, and when you show up, do you make sure that they watch the video? Uh No. We They yes, but no. Right. So, but I'll just make sure that we do this.

7:18So, um I would also have uh one that you're they're going to watch beforehand. And then uh I'm guessing you do some sort of moment where you like go out to the truck and like do some little calculation whatever. When you go out to the truck, hand them an iPad and say, "Hey, you can watch this while I go, you know, call the boss and figure out what the numbers are." Yeah. >> And so then it it just literally pre-frames them right before you make the offer Okay. uh to close. Now, what I want to do is I need to understand more about the cuz I think part of part of that is we need to have the like we need to confirm that um and then in the reminder sequence, are we getting confirmation the spouse is going to be there?

8:00Currently like up until now, no. Okay, so get confirmation >> problem with it. Yeah. >> Just say they say it'd be like, "Hey, just to be clear, is your spouse going to be there, too?" If they say no, then we say, "Hey, awesome. Like let's just get it booked for a time that cuz if you know that your close rate on those people is almost nothing, then let's just let's kill the zombie up front. So, just add it to the reminder sequence and so you can say, "Hey, just confirm you know, two things for me. One that you watched the video, second that your spouse is going to be there. If you confirm both, I'll see you tomorrow." or whatever. And then morning of, I do the same thing. Yeah. Right? Okay, that way they know that it's actually important.

8:34All right, so that's on the that's on the on the nurture sequence part. Uh we added in the VSL um right as right as you walk in and then as you do the calculation. Great. >> Mhm. So, that's thing two. Um thing three is we got to work on offer, all right? So, one is spouse plus VSL nurture. Yep, and that second VSL, is that just another one of the same thing but different words? Yep, more proof.

9:05All right. Third one. All right, tell me about the offer a little bit more cuz you it kind of went over it. So, you're saying, "Be one of our featured homes." Right? Okay. So, if you're the featured house of the month, you get 20 lights completely for free and like a full media package if you ever want to sell. Like you can use all these photos and videos. Um and then uh prioritize install date, you'll get it sooner than everybody else. Okay. And then yeah, 20 lights free, but then it's still typically those homes need 80 to 100 lights. So, if we picked it as one of the month, so they're still going to be 25 grand. Our close rate on those is crazy high. They almost all say yes when we actually select the one person.

9:46Um but the problem is obviously like everybody besides the one per month. Which for them we say like the way it works for them is they get >> Do you Have you You've gone through money models, right? Mhm. You need to run this as a giveaway. Mhm. So, you're you're you're you're not selling the second place prize. Mhm. You need to sell the second place prize. That's what's missing. Yeah. So, you say if everybody says they want to get the the first place, then you say, "Hey, you got second place."

10:17The asterisk is you can give more than one second place prize away. Mhm. That's how you do it. Yeah, okay. All right, I want to make sure you get it cuz it's it's super important. >> like I've messed with this idea, but I haven't done it. But it's basically you're not the featured property, but you are the highlighted home. Yeah. I could use that. Yeah. Sweet. >> Just make it second place. And the best thing is the highlighted home gets all the stuff that the featured home does um at 20% discount. Mhm.

10:44Which is basically what they get anyway because their house is so big. Sweet. >> [laughter] >> Then you can sell that? Then you can sell that? Yeah. Yeah. That was it. That's what you were missing. Cool. So, bring another guy in right now. Yeah. I think we just need to fix those two things in the process, but I think the offer is off, too. You you sold them on this big thing and then you were like, "Nah." >> [laughter] >> Yeah, that's how it feels every time.

11:08Yeah, you just you're not going to be that person. It's like, "Hey, so um full disclosure, like uh featured home we did have selected, but your house is great and would be a highlighted home." Yeah. Yeah, and then do you do you frame that in the VSL at all or only talk about the featured home? So, the way that I prefer to do giveaways is that you have your first and second place prize um public and the second place prize is just a discount applied to the first place thing.

11:38And so, when everyone opts into the first place thing, they all say, "I want this big thing." And so, it's a very seamless transition to say, "Oh, you didn't win the thing." Like if I said, "Hey, I'm going to work with you." Like let's say hypothetically I was going to do and you want to show the price of it, too. That's what's important. So, let's say that it's like you're going to work with Alex for a year, it's a million dollars. I'm just making this up, all right? You work with Alex for a year, it's a million dollars, you're going to get 12 calls uh a month and he's going to talk to you about your business like he's the board of directors. Okay.

12:04Uh second place prize uh gets um gets the same thing um from Alex, the million dollar value, but you get it for 500 grand. And so, when we call people up we say, "Hey, I've got good news, I've got bad news. The bad news is you didn't win first place, so you're not getting the million dollars free. The good news is you get that thing you wanted for half off." That's how it works. Mhm. So, it's the same prize, you just apply some discount to the thing. So, one person gets it free.

12:33Yeah. >> Everyone else gets a discount on the main thing. Yeah. Yeah, one one follow-up question. >> dude. You're 6 in away. Yeah, keep going. >> yeah, I love it. On the like so, what happens with a lot of people that end up not booking or not buying is they see the featured houses of the month in the VSL and they're like, "My house is nowhere near like this." Mhm. So, I don't win and I'm out. How do you frame it to that person before the appointment to get them to sell get second place? Well, you want to say I dude I state the facts and tell the truth. I'd say we have we have we have a first place and second place prize. Third prize is a set of steak knives, I'm just kidding.

13:07And um I'm going to show you some of our first place prize winners and I'm going to show you some of our second place prize winners cuz I want to be I want to be up front with you guys. I want to be up front with you guys. We deal with houses in a whole spectrum and of course we always want everybody wants to be, you know, cover of Forbes magazine, but the thing is is like you can still like this is something you can use for your real estate when you sell the house. Like if you just get these pictures in the sliding, that alone will add more to the home value than the price was. Lighting's one of the cheapest, highest return things that you can do. So, this is not even a we're not even you're not even buying anything here, right? Like you're just getting home value at a discount.

13:37Yeah. Yeah, yeah. Sweet. Dig it? Yeah, a lot. And I would also say the good news is that if you're actually not one of these featured houses for the and let me be clear, if you're one of the featured houses, love you. That's going to be on we're going to have an awesome time. But by percentage, you get a higher percentage value lift with lower value homes. Mhm. So, you actually get a better deal even though you had to pay for it. Does that make sense? Yeah, yeah. Yeah, yeah, makes a lot of sense. So, that would be my pitch.

14:05Sweet. Awesome. >> Feel good? Rock and roll? Yeah. Yeah, yeah, love it. Love All right, dude. Well, let me know how it goes. Will do. Appreciate you, man. Yeah, thank you. All right. If you are 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 road map, 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.

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