200 Kaltakquise-Anrufe, 2 Kunden: reine Mathematik

0:00Dacian Floria All right, let's see what Dacian's up to. 80% margins. Hmm, wonder what this business is. Dacian, what is LIMS plus? >> Well, it's an environmental testing platform for environmental testing labs. And thank you and thank you for doing this as a gift. >> You bet, man. >> [clears throat] >> Come on. Okay, so 200 Well, thank you for donating books, which I super appreciate. All right, you got 5 minutes, so let's rock and roll. So, you have a a testing platform, got it.

0:34You're running 80% margins, which is super super impressive. What's the issue right now? What are you trying to get to? >> I try to make money. The [laughter] only problem or the biggest problem I have right now is that I have this software platform. >> Yeah. >> I'm targeting big big labs, like they're enterprise. >> Uh-huh. >> They have like usually two to three people or maybe more that I have to talk with to get a deal done. >> Yeah, that's normal.

0:58>> Usually the deal size the deal size is starts at 50k up front and then it can go to like 100k. >> Yeah. >> And I go into an annual recurring revenue of 50k usually for that type of client. >> Cool. Okay. >> The problem I have is that I don't have anybody in the pipeline and I don't know how to get them in. >> [laughter] >> Yeah, you're like I've got this great business, there's no one no one's buying it. So, is it 250k a month or 250k a year right now that you're at?

1:25>> A year. >> A year, okay, got it. So, you're really not getting that many clients if that's your price point. Okay, understood. What did you do to get these What did you do to get these first clients? >> So, first client was locked via cold call. >> Okay. >> And the second client was same cold call and the third one was trade show. So, I have three customers right now. >> Okay, heard. Okay. So, you've got cold call, trade show, and what was the other one?

1:52>> Cold call as well. >> Okay, so how many cold calls did did take to get you the the the one deal? >> Well, it was a while ago, probably around 100, but it was luck. >> I mean, dude, that's how it works. You did I mean, you're like, I did 100 and then one of them bought, it's luck. It's like, no, you did 100. >> [laughter] >> Like it's like if you called one and one of them bought, that would be luck. If you called 100 and one of them bought, that's just a process.

2:21So, let me let me ask you this way. So, I I've said this before, but it's super common for sub a million, which is that what feels like volatility is actually a symptom of insufficient volume. I mean, you're not doing enough, which is what makes it feel erratic. And so, it's like you did 100 and you got one, and then you did other cold calls and you got the other, right? >> Yep. >> Okay. So, how many cold calls did it take you to get the second one? >> Probably around the same.

2:47>> Okay, so that sounds lucky, though. The second one sounds lucky. The first 100 and you got one, you know, that is You know what I'm saying here? You made 200 calls, you got two customers. >> Mhm. >> So, the question then becomes what stops us from doing 10,000 calls? >> Well, one would be that >> You need leads.

3:10>> I'm not that good at call I need to get one. >> Dude, what 1% conversion on cold calls, by the way, fine. Totally fine. On a 50K, 100K price point, totally fine. Do you think about it like this? You're making $500 a dial. >> Yeah. >> Yeah. That's That's pretty good for a dial. I don't know about you, if I want to go out to dinner tonight, I'll be like, okay, I'll make one dial. There we go, I covered my dinner.

3:43>> [laughter] >> Right? >> It's an interesting way to think about it. >> Of course, you have to think of it because you've gotten your head about this. Like if every time you make 100 calls, you get a you get a deal, then it's like how what how how do I need to game this for you so that you just make 100 100 calls every day? >> Mhm. >> Okay, so what you have We have 60 seconds. So, what's the thing that's holding you back from just saying like yes, that makes sense? >> Well, that makes sense, but I don't know how to get myself leads.

4:09>> Okay, it's Right, then that's the leads list. Yeah. >> The second problem is how do I position myself of what attraction offer I can I create? So, it makes sense for these guys. >> Well, for a bigger for a bigger company, a waved for what you have, a waved fee structure, which is the third fee structure that I talk about inside of the continuity section for money models, which is you have a big upfront nut. We say, "Hey, it's $50,000 for me to do this whole integration, and then it's $5,000 a month month-to-month, right?"

4:41It's like or >> Mhm. >> if you want to commit, I'll waive the $50,000, but you got to commit to the whole year. >> Yeah, but they they anyway you do that because all their data is in our system. >> Right, well, the thing is is but you're but you're just No, no, dude, I I get it. The the way that a money model works from a positioning perspective is that you don't like whenever you give someone a choice, it doesn't mean that you're saying you actually give them the choice. You give the illusion of choice that then obviously selects or waits for one of the selections.

5:14>> Mhm. >> So, you'll basically the question that you had is, "How do I get more of these people to sign up? How do I make it more compelling for them?" Well, if they think that they're getting some something that cost $50,000 to set up for free, they're far more likely to do it than just say, "Why do that anyways?" Just like, "Yeah, no shit." But, the problem is that they don't know that. >> Mhm. >> You know what I'm saying? >> Yeah, makes sense. >> Okay, so I'll give you Let me >> put this into an ad or something?

5:39>> No, I think I actually don't No, that's this is more for the mechanics of of how you actually close when you when you get into the into the into >> the thing with them. >> Um but let's solve the original issue really quickly. We are over, so I'm going to just make this as fast as I can. They got to get to the next person, okay? So, number one is I would say uh list brokers, you can do that. Number two is you can scrape using software. Uh number three is that you can go to uh people who own groups or communities that and there always are some. You just look. Just look. There's on the school, there's on the LinkedIn, there's Reddit, whatever, right? There's different communities for these people. And then you want to pay the group owner to basically make an ad inside of the group.

6:15Those are three different places you can look at right now to go get leads. >> Okay. >> Cool. Also, highly recommend flying out there and saying, "Hey, it's you know, you find out that they're in California, you know, like in Los Angeles." You say, "Hey, it's so crazy. I'm actually in LA this week. I figured there might be I'm happy to happy to swing by while I'm in town." And if they say yes, then you just fly there. Okay? [laughter] That's how that works. >> Good luck. Yeah.

6:40>> Yeah. Rock and roll, man. Appreciate you. >> Appreciate you, man. >> Thank you. Superdotanybookstation. Oh, thank you. I appreciate it. All right, bye. >> 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 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.