Rohan Video Script 2

INTRO It doesn't matter whether you're in real estate, construction, info products, e-commerce, or even a service-based business… You can’t scale a business if you have holes in your bucket. You see scaling is like trying to pour water in a bucket and fill it up to a higher level than you've ever filled it up to before… If you have holes in the bucket, it's seriously difficult to scale. And so what I'm going to be talking about today, guys, are some of the common holes I see inside of the business coming to try and work with us at our agency GrowRev INSERT GROWREV CREDIBILITY So with that being said, let’s dive in. Most business owners think that in order to scale, they need to market more, they need more sales, they need more customers coming in… And so on. That's what they think they need to do in order to scale a business. But what they don't see is that this is often what causes a business to fall apart and collapse. And it's because, again, there are holes in the bucket that are causing you to lose money and not actually be able to properly grow the business the way you need to. So, what are these holes and how do you fix them so you can scale your business? Stick around, I’ll show you everything you need to know. --- So here's what I wanted to start off today with guys… One of the worst holes in your business bucket is going to be a business having a low customer satisfaction rating. It doesn't matter what amount of money you have to spend on advertising, you have to fix your product or service issues before you spend. A lot of times I see businesses that are so focused on growing their revenue numbers, but not at all focused on their customers and making sure they're happy. Guys make no mistake about it, word of mouth spreads. And the more customers you get, the more word of mouth spreads, it doesn't matter what industry you're in. And so if you have a bad reputation, it's going to be almost impossible to scale because people know you're full of it. Again, it's like a hole in the bucket. So one question I ask business owners is, “if you had to have your customers rate you on a scale of one to ten and you were being completely honest with yourself, what number would you give yourself?” If the answer is not eight, nine, or a ten, you have to fix some things inside of the business because the seven is going to go down to a 5 at scale. It’s extremely important to fix your issues with your product or service because a small issue is only going to get larger with time. So that's one of the main holes that business owners have inside of their buckets. Now, the other hole I see pretty often is a business that’s only dependent on cold acquisition. A lot of the time, they think all they need is new customers, new customers, new customers… And the problem is that when you're only dependent on cold acquisition, your cost to acquire a customer is only going to increase with time. This is not a good position to be in. What happens if your ads get shut down from Facebook, YouTube, or Instagram, do you have systems and procedures in place that allow you to be able to live off of the customers that you own? You have their contact information, their name, email, and phone number, can you get them to do business with you again? The way to not be entirely dependent on cold acquisition is to either create continuation plans or upsells… Because oftentimes when we're trying to scale, it's a lot easier to scale when we know, “I'm more willing to spend more and lower my front-end profits because I know that 80% of my customers after coming in buy the other products or services we have, or they’re going to want to be on some form of a continuation plan where they’re paying us every month. This is how you get it to the point where you’re not 100% dependent on cold acquisition. I’d rather be 0% dependent on traffic, but I understand that’s not always reasonable. As long as you’re not solely dependent on new customers, you should be good. And so that's the second hole in a bucket that can severely ruin the potential for any type of business to scale. Now, for some business models, they don’t have the ability to do continuation services, payment plans, or upselling additional products… Let's say you're in roofing, right? You're selling one roof, it's not like you can sell them an additional roof, or a roof cleaning service… The way you overcome this hole in the bucket, is by fixing another one… And that other hole is not having a referral system in place for your business. Guys, it's really hard to scale any type of company, any shape, any size, any model...if there's not some form of a referral program. Referral programs allow us to be able to make sure that we have business coming to us without us having to do anything. Our ads could shut off tomorrow, and we’re still good to go. We may have to pay a referral fee, but that person's coming to us pre-sold and ready to work with us. And guys just like how you have in a lot of businesses an introductory offer, an upsell offer and so on… You need to have a referral offer in place. A lot of people just say where, hey, if you do this, we'll give you $100, or something like that, or an Amazon gift card or whatever, right? That’s the wrong way to do this, check this out… Let's use our fictional roofing business… What if at the end of the project you told your customer, “I'm sure your neighbors are going to be coming around saying, “hey, you just got the roof done!” If you refer us any business, I'm going to give you $1,000 cash. And on top of that, also, I'll pay for date night that week with you and your wife at the nicest restaurant in town… All you got to do is just let us know. Send them our email, phone number, everything. And if they say they came from you, we're going to book your reservation, pay for date night, and I'm going to personally give you $1,000 cash. Now that is an offer that makes someone want to send you business, right? Now obviously, I'm just throwing numbers out there. Whether those profit margins work or not is completely arbitrary… But do you see how much easier it is to keep bringing in business if if that's the offer that's presented to every single customer after they buy? Your buyers will turn into more buyers and that’s the way to do it. So guys, in conclusion, these are countless reasons why a business fails scale. Scaling is a holistic approach, which means there's no one dependent thing that you have to do to scale. You can scale with referral strategies, continuation strategies, and even new offers or a new product that you introduce to your business. Right? So guys, understand that scaling is not a one size fits all thing. There are certain holes in your bucket, and as I said, it’s going to be much harder for you to fill that bucket up… If you’ve got these holes in it. OUTRO