Wachstum bei mehreren Firmen gleichzeitig steuern

0:00I own talent agency group. So we own um we tal a for actors and models photo studio doing 3.4 million in revenue. >> Oh photo studio. >> So >> turn me down in the background. Mute me in the background. I can hear myself. >> Okay. So uh we're talent. Yep. I've switched you up in the background now. We've got like acting and modeling agencies and now we have a photography a chain of photography studios as well.

0:29Okay. As well. >> Okay. Modeling agency and photographer studios. Okay. Got it. >> Correct. We're doing 3.4 million in revenue and would like to get to six at a much higher margin and less and significantly less uh stress or less challenge I guess the best way to describe it. >> And that's the problem is that you want less stress.

0:53uh just in the sense of so the talent agencies are very very difficult in the sense of we it's hard to commoditize them. So we basically we we started by selling preparation because we get 5,000 applications to the agency a year. So you don't know you know we basically started to try and productize many of those leads um because you can't guarantee the outcome. So

1:20>> you're like if you're ugly you're ugly. There's nothing I can do right. Yeah, exactly. Because if they don't book work, they get very, you know, they get aggressive regularly. >> So, we tried the photo business was founded to essentially try and sell all the leads we don't want something else and also try and monetize it on the front end. >> Uhhuh.

1:43Okay. And the problem is >> so the problem is that uh as we've been sort of setting that up um we sort of sort of stopped selling sort of preparation so that was preparation packages via the agency um and it proven to be quite quite you know difficult to sort of make make the pivot over to just the photos and extensive to the agency. Um proving to be very very challenging.

2:12So the Okay, so you have a modeling agency. Can you give me a split of the revenue between the modeling agency and the photo studio? Uh >> the photos business is about uh just a little over $1 million. >> Okay. >> And the rest >> and 2.4 is through the agency. Okay. Got it. >> Okay. So >> with with a big chunk of that being actual workshops preparation as opposed we only get a commission of 20% on booked work. So we don't factor that total the total volume of cash into revenue

2:46>> and most of that 2.4 is prep work not percentage. >> Correct. >> Yeah. Okay. Got it. Um Okay. So then and then you just randomly started a photo studio, right? >> Correct. Got it. >> If the photo studio disappeared, would your life be easier? >> If the agency disappeared, my life would be easier. All right. Interesting. What are the margins between these two businesses?

3:15>> The photo studio has has much healthier margins. >> Well, tell me what what is it? >> Uh the gross gross profits about 60% on the photo business. >> Uh the agency pack. >> No, but I don't care about growth. What's net What's >> Sorry. Net margin on photo. >> Net net margin on photo is at 25 to 30%. Depending on

3:40>> Okay. So you're making whatever 250 grand here, right? >> Yeah. >> Okay. And what are you making on the 2.4? >> On 2.4 about another about the same about another 250. >> Okay. Got it. So it's half the margin. Okay. So I guess so the question I have is like what what part of the modeling agency business do you not like

4:07>> the uh the fact that you can't control the outcome for for the talent um and then and also just a very difficult nature of you know high high churn of your talent if you're not if they're not succeeding. Well, dude, it's just because you're you're taking the bottom. >> That's the issue. >> Taking the bottom. >> No, you're taking the bottom. You're you're bottom feeding right now.

4:32>> So, you're making more money. Yeah. Right. And so, like, there's nothing wrong with agencies. There's gigantic multi-billion dollar agencies. There's nothing wrong with the model. The issue is the avatar. >> Yeah. >> Right. So, I'm guessing that you're running ads to get these modeling people. >> No, mostly organic. >> Uh, so people just heard of you and then they just Organic as in like they just come through for like Instagram and stuff.

4:58>> Uh, Instagram and uh Google like SEO things like that. >> Okay. Um, got it. And so you want to get to six million. >> Honestly, we got to pick one of these businesses. Just we got to do one of them. Yeah. >> Like you're CEO of both, right? >> Yeah. Yes, I am. Well, um Yeah. Yeah. Yeah. >> Okay. How would you get customers in your photo studio if you did photo studio

5:28>> We do a lot of giveaway. Um like we do a lot of a lot of giveaways for the main. >> Yeah. Model call, giveaway, classic. Yeah. Okay. >> So, >> yeah. I mean, that's that's one business. The modeling agency scales a little better because you don't have to open up brick-and-mortar stores all the time. >> Yeah, that's true. That's true. >> Yeah. So, which one do you want to do? You just got to pick one, man. Like, if I said, so if your modeling agent disappeared, would you be happier and you'd be able to grow? Would you be able to double the photography studio?

6:02>> Yeah. >> How long have you had the photography studio? >> Uh, 14 months. >> Yeah, it is a little new. Uh, and you said how many locations? >> Uh, two. >> Okay. Um, honestly, you just have you just have to make that call. Like I like if if I get you to do one thing from today is that you pick one.

6:28>> Yeah. >> Like Zuckerberg didn't have an Airbnb. You know what I mean? >> Yeah. Yeah, the main the main advice being just pick one and go go ham on that. >> Because if you had half your time back, would the problems that you're dealing with either of these businesses be solvable? >> Yeah.

6:51>> Right. You only have enough time to maintain them, not grow them. >> That's Yeah, that's very accurate. >> Right. And when you talk when we talk about switching costs, it's like there's talk there's cost switching, like task switching, and then there's like business switching. So, you have to like completely switch context. Like, right, I'm talking about people showing up for photography shoots, upselling into portraits and packages, and then you're like, "Wait a second, models. I've got to go outbound to get a brand deal for soand so, right?"

7:17>> Yeah. >> It's just two completely different businesses. >> So, both of them make the same profit. Um, I would say that modeling agency scales easier, but you sound like you hate that. Uh, and so, pick whichever one you want, get all the time back, and go all in on that. and then just push all the way till the agency strikes the product. >> Sure. In the in the in the in between. But like the I'm telling you what the difficulty with the studio is going to be as you know is finding talent at each of the locations be tough. You're also going to deal with ad fatigue because it's a local market and if it's all ads driven it's very little recurring revenue. You can get some seasonal if you do families. Are you doing what kind of shoots are you doing?

8:01Uh we do model we do model >> model shoes. What do you know? Right. >> Right. So I guess you can get up, you know, they'll probably get updates every year or two. Maybe you would know that better than me. So I think if you if you just say if you position it as models get updated pictures at once a year. That might be a great way to get them into an annual subscription. That's probably the angle that I would go with on the photo studio to make it a little bit more recurring. >> Yeah.

8:27>> Okay. >> But just pick one, man. I I there's nothing I can tell you in this call that's going to matter except for that. >> Okay, good. That's a good advice. >> All right, that's all you got to do is just pick and then you got to commit, man, >> and not not have this happen again. That means you stay the pay. You you pick and then you commit. Stick with it. >> Thank you. >> Appreciate you, man. Congratul Hey, listen, man. You're obviously good at doing stuff. You're making millions of dollars a year. We just got to focus it.

8:58>> Thank you so much for that. It's good. is a good coin. Thank you. >> You bet, brother. Talk to you. Real quick, I'm going to show you the exact 10-stage 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.

9:25And 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.