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0:00Unternehmer/Gast I'm in the functional medicine space where we get to the root cause of a lot of health elements for different types of clients. We're bringing in about 1.6 mil. The goal is to 10x that. Our problem right now is I'm the practitioner that is doing the sales and the fulfillment. And so, we need to more help on the fulfillment side. I hired on a practitioner. I'm [snorts] currently trying to move my clients over to this new practitioner. They're not wanting to move over. And we're also trying to narrow the type of client that we're serving.
0:32So, kind of at a bottleneck. >> Yeah. Uh short-term, long-term? Like feature, not bug. If you If people love you because you're good at what you do, they will be upset that they can't get you. And that is just how it works. >> Okay. >> Yeah, like basically, the fear is if I give up these customers, then I will lose revenue in the short-term. Which is true.
0:57And if you don't do it, you will be stuck doing this forever. >> True. >> And so, one of them is forever, the other is short-term. And so, then the question laddered up is do I feel confident in my ability to acquire customers so that I can fill my practice back up uh without it being me? Do you feel confident? >> Well, that was us without any ad spent.
1:21So, we're currently trying to add an ad spend to bring bring in more leads. >> Okay. Is that working? >> We're currently in the >> Okay. >> process. We haven't We haven't seen anything. We just started. >> Yeah. So, what are you So, what's the plan? >> Well, that is currently the plan. >> Okay, what More specifically, what are you doing? >> Google ads. That's what we're starting on. We're also trying to build up a webinar to focus on our
1:49>> No, I'm just listening. >> Trying to build up a webinar to bring in more leads as well to focus on our ideal client. Instead of being as broad as we are right now. >> And are you you local? >> It's telehealth. >> Word. Do you want to run Google ads for telehealth? >> That helps target our local audience. I'm in Texas. >> Locally. Okay.
2:13>> Correct. But I do see clients from all over the space. I have affiliates that have worked with me. >> meet up with you in person to buy your telehealth services? >> No, everything is telehealth. I sell telehealth. I fulfill telehealth. Lab-wise, they get that done locally wherever they are. >> Yeah. Interesting. Okay. Um What's What's the sales motion from click to close?
2:37>> They come in for intro consult. I sell them. We close them there or we don't and then we go >> there, you mean on a phone call? >> Correct. Video. >> And right now that's how the Google ads are going? >> Correct. >> And there's no other steps? >> Nope. >> That'll be interesting. >> Help. >> [laughter] >> Um yeah, I mean you have you have to build out a sales motion. So right now So what you have and this is this will be good for Who here had does not have a reliable way of getting customers? As in like you get it all word of mouth predominantly. Okay.
3:11Cool. Um So one of the biggest mistakes that you that you make from an acquisition perspective is you using a warm process on cold leads. So the reverse always works and the inverse does not. Meaning if you use a warm process on cold leads, you will not sell people and you will only sell the 6-in pots which are the warm leads. Which you pretty much could just be like here's the price, buy it.
3:37Um on the other hand, if you have a cold acquisition process, you can put a warm lead through it and they will buy at higher rates. And so typically it comes from either a lack of skill or a lack of energy in order to put every lead through the exact same cold process. And so, said differently as a bigger example, who here was at the launch of the book? Can I get some hands? Okay, so like some of you. Great. Um so, I had this book launch like 8 weeks ago, it was kind of a big deal.
4:03Anyways, so um we broke the world record, but uh you know, okay. Uh we doubled it, but uh no books besides Harry Potter beat us. Anyways, um >> [laughter] >> anyways, uh at the launch many people who were there knew who I was. There were also people there who did not know who I was. The webinar was structured for people who had no idea who I was. The people who did know were not offended. The people who didn't know were grateful to find out.
4:31And so, we have to build the whole thing. Now, I could have probably sent an email with the offer and done a third of the sales we did. Probably. The other two-thirds came from actually selling like we meant it. And so, right now you're missing friction in the sales process. You'll have to have like the Google Ads part that's local, that's kind of interesting, um because you'll have some trust from local, but you'll still probably need some more selling to happen in between, some little application, a VSL in between that you'll have to put there.
5:04Um not sure what the offer that like you have to look at the offer or the kind of pricing the pricing that you're doing, um but that those three things have to work. Um on the true national, that's a pitch that's a pitch. You know what I mean? That's a straight like that is a media that is a different game. Like the local one you'll be okay because you have that local trust. With a little bit of of warming up you'll be okay. The the webinar one is like and you're going to be running meta ads for that?
5:33>> Yes. >> Yeah. Um man, there's a lot there. Uh what's the creative? >> Um I'm not I'm not sure. I >> The ads? The ads that you're going to use to push the webinar. >> The type of client that we're trying to attract. My husband does most of the ads stuff, so probably he could better answer that. >> Do you know what the creative is for the webinar?
6:01>> Like the testimonials? >> I figured that. >> [laughter] >> Yeah, yeah, like what's the messaging for getting these people in? Yeah, what's the messaging? >> on the pain. So, our primary client is the menopause >> Okay. >> woman that is highly successful, doesn't know what to do. She's underserved and educated in that space. So, that's kind of >> And what's the hook for the webinar? >> We're in the process of that.
6:27Alex >> Yeah, it's a little too early for that, Alex. >> So, so zooming back out, your issue is that you're good at what you do. You're transitioning your clients to this other practitioner. Um are you going to have more practitioners after this person? >> Eventually. We want to get to 10 mil, so yeah. >> Yeah, of course, right, yeah, naturally. Or you could just charge a ton of money. Which is a play. So, yeah, that's going to be that's inevitable. So, we have to do that, period. I would try to manage that transition to the best degree possible.
7:03Alex I'm trying to think I would probably see if I could change the service delivery ratio rather than go 100% as an intermediary. Like, can you get like 10x leverage on your time so that you don't risk losing revenue? Because here's what I don't want to have happen. You switch over to new gal. Let's say new gal loses a third of the customers and they churn over the next however many period. Let's say you're running 50% margins. What are your margins right now? 70%
7:29>> 70% >> So, because all yeah, all word of mouth and all remote. Heard. Um but margins can compress and then now you haven't had any cost of acquisition. So, it's like top line comes down. Uh cogs go not cost, but like your costs go up because you're now marketing, but you're not good at marketing yet. And so all of a sudden you go from 70 to like zero, and then you're like, "What the [ __ ] What happened to this business? What are we doing?" And then you freak out, and then you go back to what you were doing, and it just feels like a big mess. That's what I want to avoid. So I think one is like, instead of handing 100% off, it's like, "All we're going to do is that I'm moving up. She's going to handle these components. I'm still in charge of all these pieces. Uh, we're going to touch base on a five times less frequent cadence, but just know that she's sharing notes with me internally."
8:10And then maybe you go to soft touch via message thing like that, and no more calls. And it's like, "Okay, they still feel the same uh, proximity to you, but that way we can dramatically decrease the risk of this person taking over, and and [ __ ] it up, and also that person taking over and just leaving. And just taking the whole business with them. Which is not a bad deal for them. Uh, terrible for you though. So, so um, that's what I'd be mindful of with the transition, and um, for sure running paid is a different monster.
8:40>> Thank you. >> Yeah, you're good. 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 dollar 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. 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 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 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.