How to Thrive in a Downturn Market
How to Thrive in a Downturn Market
Transcription of Episode
[00:00:00] Ryan Chapman: Welcome for those that are able to make it live, if you're listening to the recording, welcome as well. We're gonna be talking in a over a series of trainings about the essentials to thriving in a downturn market, and unfortunately, we've been through a downturn before. The last downturn Trent and I started a very successful business in was a more gradual downturn. Which was during the mortgage market crisis. And so as subprime lending kind of tipped that bubble and it started going down. A lot of people, you know, that I've heard from were anticipating a downturn in 2016. Love him or hate him, I think Trump may have extended that. So that downturn didn't happen when it was anticipated to happen. And so now we've got a very fast and rapid one that came from an unexpected source with COVID-19 so the, the most important thing that I could share with you as you're going into a downturn is a fundamental concept. I can't tell you who [00:01:00] taught it to me first, but it is that of cashflow. One thing that I've learned from observation of other people's businesses as well as from running our own. Is that nobody knows the business that they're in at first. You go into business, you think you know what business you're in. You don't. You have to learn that and the process of learning what business you're actually in takes time. And so cashflow is why so many businesses fail within that five year window is because they just don't have enough cash to make it through. And when the market makes a sudden change, cashflow becomes even more critical because now you're not just fighting against your own ignorance about how your business works and what you need to do in the business, you're also finding an external source. So we'll get into more of, what all this means by really want to make this point the most important point that you take from today, because if you don't get this cashflow thing figured out for your business, and if you haven't done it up until now and suddenly you're [00:02:00] filling a crush. his is one of the most important things that you can do right now, because until you get yourself in a good cashflow position. You're going to be in trouble. Now, what are the ways that we get people into a good cashflow position? Well, one of them is we can prove our sales and marketing processes and make them more effective, and we'll talk at the end about simple mechanisms. And that is where we're seeing people double their sales, but I don't want to make it all about that. But that is one way to do it. But there is another way that you can deal with cashflow. And a good friend, Chuck Troutman out of Phoenix he posted a video recently where he talked about his experience haven't been lived through as a business owner for different downturns, I believe he said. And so in living through those four different downturns, the, the one thing that he learned was one of the ways that you can secure cashflow. Even if you don't have the business like you don't have the profit to do it right now is through loans. And some people hate loans, they hate the idea of [00:03:00] debt, but what he suggested was get whatever loans you can, stick them into a different bank from wherever you got them and let them just sit there because the peace of mind of knowing you have the cash in the bank is going to be worth it. And the interest rates right now are pretty low.
Trent Chapman: So one of the things that you said is important there, Ryan, is stick them in a bank that's not the same bank. A lot of banks, like if I get a Chase loan and I put my money from that Chase lender in a Chase bank account, they have a clause in there that if there's a default or if they decide to close that loan, they can pull cash from my other bank account and pay off that debt. So that's why he's saying use a different bank. That way, that money is not sitting in the same, you know, same overrall entity that does pull that money from one account to the other and close that line of credit. It's a very important thing you said there.
Ryan Chapman: Yeah, so thanks for highlighting that Trent. So you want to have those reserves, becuase you're going to pay interest on it, which I thought was a really important point. That's okay. We understand that, but you can look at that [00:04:00] essentially as cashflow insurance. I was sharing this concept with an another entrepreneurial friend last night he said, Oh, Garrett Gunderson in his book talks about the, he calls it cashflow insurance. I said, well, that's a great term. I love it. So let's, let's use a Garret's, term of cashflow insurance. When you have that, that money in the bank, it allows you to make better decisions than when you don't. And so you definitely want to have that. And I'll get into more why having extra cash and reserves is important. If you didn't prepare, then you want to be paying attention to that, that. This link right here you definitely want to write down if you've got, if you just dropped off after this, this may be enough to help you in many ways. We're gonna talk about some other stuff, but the SBA loan is, you guys know what that terrible, if you're in the United States, we had a terrible, terrible bill that was passed where people just basically got ripped off. But the longest short of it is that they made a bunch of money available to the SBA. So if you're a business owner who is successful, you're not going to qualify for that piece of garbage $1,200 cheque [00:05:00] they're trying to send to people, which is fine. Go ahead and get the SBA loans, also talk to your accountant. I don't know Trent, if you had a chance to talk to ours, but...
Trent Chapman: There's the basis of this, like the, there is basically a $10,000 grant that's not alone. It's a grant available to the first 1 million businesses that are small businesses under 500 employees. So I'm assuming all of our customers are small businesses or medium sized businesses under 500 employees. Basically you can, you can submit an application for an SBA loan and simply because you had payroll in 2019, then that qualifies you or, yeah, 1099 contractors that qualifies you to submit for this $10,000 grant. So the first million businesses that submit and qualify will guaranteed get that $10,000 grant for your business, and then that's not going for your vacation. That's going for extra cashflow for running your business, for paying employees, etc. That's the purpose of it. [00:06:00] In addition to that, you can qualify for some very inexpensive money through the SBA, just for operating expenses and for any business, keeping it open. So, if you want to, you can also apply for a million plus in funding if your basis qualifies. But the long and short of it is you do want to get your application in the next few days simply because that $10,000 per business goes the first 1 million businesses. So in a few days, I'm assuming that will be exhausted.
Ryan Chapman: Trent just did it today for a couple of our entities. And in doing that, we saw that the number is at 43,000 at the time that we....
Trent Chapman: About two hours ago.
Ryan Chapman: Yeah. So in the, I think it was about 15 minutes between applications, 10 minutes or so it had, it had gone up 2000. So the, that is being pulled on right now. So you want to get in line as quickly as possible. So again, Trent chatted that out, but let me go on.
Trent Chapman: The critical pieces of information they're going to ask for are [00:07:00] what moves your revenue from February, 2019 to January 31st, 2020. And what was your cost of goods sold? And then did you employ anybody 1099 or W2 employee during that time period? And if so, and you have an entity or you're an individual, even an individual running a business without an LLC or a corporation can still apply, but you have to have employed somebody and paid W2 income or 1099 to somebody and filed those W2's or 1099's in January of this year by the January 31st deadline. It's that that's your business or your situation, then you do qualify to submit and request that grants.
Ryan Chapman: Okay. I don't know what it is in your country if you're not in the United States, but every country, that we service at Fix Your Funnel, I know has had some sort of program rollout. So look, to let you know, look for that information. You know, I have a buddy that's in the UK, and he was talking last week about different programs that are available in the UK. So wherever you are, there's some [00:08:00] sort of program that's available. So go check that out. Get yourself, bank a little cash in your account, and put it in reserves. Don't think of it as stuff you, you, you're trying to draw out right now. I would rather that you put that, this kind of cash in reserves for other opportunities that could be coming up and if you have to draw on it, but just for the peace of mind that it gives you to be able to operate more intelligently. And then let's make a few adjustments to the way you're approaching marketing and sales so that you can actually take better advantage of the situation where we're going to have a lot of people that are going to be different, different camps that I don't want you to be in. But we're going to talk about that next. But we wanted to make sure it cashflow's first that we talked about. Cause at the end of the day, if you don't have cashflow, you're out of business. Doesn't matter how good your service is. It doesn't matter how wonderful your product is. It doesn't matter how great your team is. If you don't have cash, you're done. So that's why this is the very first on the list of things that are essential. Now when it came to Trent and I's business that we launched at the [00:09:00] beginning of the downturn of the last market, we had cashflow that came from our marketing and sales. And so the marketing and sales produced the cashflow that we needed to be able to learn the business that we're in. And because it was so good, and part of that was some things that we did right, a lot of it were things that were happening in the market that we just aligned with. We were able to have some great success. So that leads me to the next slide I want to talk about, which is system stress. Now whenever you have a system and you stress it, you discover what the weaknesses are. So this downturn right now, there's a couple of things that could have gone on for you. You could have seen some sort of stress cracks in your own business. With the, with the change, the rapid change from, you know, business as usual to suddenly business, not as usual. It's easy to freak out about that stuff. If you have the cashflow under, under control, then what you're going to really want to pay attention to is what [00:10:00] weaknesses did the stress expose in my business. Well, so go look at your business and say, okay, what didn't go the way that I thought it should be going? Because whatever, whatever came up is something that's been there for a long time, but it was hidden by a fat market. We're going to talk about fat market and what it hides, and then lean markets or stressed markets and opportunities that they expose and what you've, you gotta do to adjust. But in this, this stress test that just happened with, and this is still going on with COVID-19, what's happening is weak businesses are going to fail. So businesses that really didn't have any business being around are going to fail. Businesses that have been stressed because, the just, the whole parameters that they operated under were changed immediately are gonna potentially fail. And that's sad. I take no joy in announcing that there are a number of businesses that are going to fail as a result of the stress test that's going on right now. [00:11:00] But you guys need to know that because that also, whenever businesses fail, they also reveal opportunities. So there's nothing that goes bad in a system that doesn't also show at the same time the opportunities. So businesses that can adjust to the current reality and also then strengthen things that need to be strengthened, are going to pick up all the business of the businesses that fail. Because interestingly enough, some of the businesses that will fail just didn't really have a place in the market anyways. They weren't doing great. You know, they were on the edge any ways of cashflow destruction. And so they were, they were on their way out, but there's a good number that were operating pretty well, had some good things about them, but they had some weaknesses and some key areas that are going to fail, and those customers all need to be serviced somewhere still. So there'll be pent up demand that were released because we had a clean out that happen much quicker. We had the, the mortgage meltdown that was a reflection of dead wood in the system that had to be cleaned out in some way. And so the way it got cleaned [00:12:00] out was very painful and long. I mean Trent, well, how long were we expecting the mortgage meltdown to actually last on that one? What, like two years?
Trent Chapman: So then if you guys watch the markets worldwide, and specifically the United States has a cycle of every 10 to 15 years, there's a downturn. There's the ".com" bubble. There's the mortgage market meltdown. This one is a little bit longer to happen. We were expecting it sooner as Ryan mentioned, but this is also to happen really quick. Like usually the Dow Jones dropped 20 to 30% it takes a year and a half to two years of a bare market. Whereas with COVID-19 it was triggered and happened in a matter of a few weeks. And so there's, there's also some benefit to that and that we can start the recovery quicker. Now, we don't know that this is the bottom or the end, but we can say that this did trigger a quicker drop in the market than anyone expected. But it can be a good thing for businesses who want to take advantage of the opportunities that exist when the market corrects. And like Ryan's saying, businesses are [00:13:00] going to struggle. It's sad. It's really hard. A lot of people are going to struggle, but those that are are smart can come out okay from this or not. It's not the end of the world. And if you are frustrated and you feel like everything's crumbling around you, that's okay to feel that, but don't sit in that, don't stay in that space.
Ryan Chapman: So that's another benefit that comes from the cashflow. If you can fix the cashflow problem in some way, and you know, have some reserves banked, whether that's through loans or whatever, and that's the, I think that's one of the, the real silver, silver linings of this situation is that because of the sudden onset of it, we've got all these funds being made available through the governments, which you know, they have their own longterm effects. But the short term effect for you is the ability to quickly gain access to some of this cash that can give you those reserves. And that way you can take a step back because your best thinking is going to happen by taking a step back and assessing the full situation of your business. So the businesses that adapt properly are going to surge. But the business [00:14:00] owners that keep a weak business alive when they really should have changed it. So that's this, this is the warning that goes with the cashflow suggestion is if you have a weak business and you don't adjust the model at all, and you say, no, I'll just, I'll just get the loans and I'll kind of push through on this. There's something called opportunity cost, which is much more expensive than anything else, and that is what's gonna really hit you in that scenario. So yeah, so this is a really good time to review your entire business and say, where is my business strong and where is it weak? And don't compromise and say, well, you know, I'll just, I, this is what I know to do, so I'm going to keep doing what I've done. If you do that, that's, that's like keeping a week business on life support. You will be able to potentially to get through, you know, the downturn and maybe to when the market's return more normal. But the downside is going to be you've got a dog still. So just because it kept the dog alive doesn't mean it changes from a dog. It's still a dog. [00:15:00] And so you're going to miss out on opportunities that are available for those that will pivot and adjust a little bit. So that's the real key is you've got to look and see. This is why it's so important to look objectively at your business and say, well, what are the weaknesses that were expressed as the stress test is going on? What are the things that just are terrible about my business that I've ignored and I've accepted for too long that need to actually be addressed. This is a really great opportunity, especially if you get that cashflow benefit behind you to be able to pivot the business to make it stronger, make it one that can survive more markets. You know, the one that's going to be able to the last, because just because this COVID-19 thing comes out of left, you know, left field And then has thrown people really for a loop, and this kind of sudden doesn't mean that we're all done with stress tests. It could be the first domino. It could be the only domino, I don't know. But what it does tell you is you got to start paying attention. So people that were like, and here we're going to toot our own horn just a tad, but not [00:16:00] for any benefit other than for yours, which is if people that were like, yeah, no, email's working fine enough, I'm just going to stick with that. I'll get around to doing more effective texting later. Now is your wake up call, it's not going to get better. It's going to get worse. So you got to start thinking about alternative mediums for communication, simplifying mechanisms, not complicating. And we'll get into that in just a sec. So I want to talk about fat markets because we just came out of what I consider it to be extremely fat market. It lasted way longer than it should have in many respects. And so a lot, a lot of people do become complacent and things where they should have been paying more attention.
Trent Chapman: Same thing happened in the 2002 to 2008 market, 2007 market. Specifically those that were in real estate or thought they were realestate investors became complacent.
Ryan Chapman: Well, that rolled over into a lot of other markets too. Cash was there, but there wasn't good fundamentals and there were not good fundamentals to support it. So that kind of created some issues. So [00:17:00] in fat markets, they tolerate weak offers. So you can have a weak offer and you can get by. You may not thrive, you may not do exceptionally well, but you can get by with a week offer, you can have poor messaging. Poor messaging is messaging that focuses on what you want, what you're trying to get out of the market more than it does on what the prospect or the market is looking for. And so it may have elements that describe what the market's looking for, but it's not real strong through a pore. And that sense, fat markets will tolerate complicated mechanisms. So there's a lot of people who have been pushing overly complicated mechanisms for lead to, to sell. Some of them become very popular because there's some really popular people pushing them. I'm not naming names intentionally because don't feel like it benefits anything. And some people have really tight connections to some of these models that have been pushed, but the complicated mechanisms, they don't lend themselves towards, lean markets are shocked markets. They [00:18:00] are too cumbersome, too slow. They have too many hurdles that are in those mechanisms. When I'm talking about mechanisms, I'm talking about the automation flows. So where the fat market may have tolerated overly complicated stuff, the lean markets will not . They, they just, for some reason, they just don't respond well to the complicated mechanisms. Note, I'm not saying sophisticated. I'm saying complicated, so you'll, if you're not sure what the complicated mechanism was, we can talk about that in Q and A period. The fat markets tolerant schizophrenic entrepreneurs, the schizophrenic entrepreneur is the person who's changing what they're doing, quarterly, half a year, every year they've got a different business. They have a different business model. They're just all over the place. They're trying whatever they think is new is going to work. Just that's really tolerated by the fat markets, but lean markets will not. We'll get into a little more of that. Fat market's tolerate loose communities and messages. So if you want to be wishy washy, want [00:19:00] to be kind of be on the fence about some things you can get away with that in a fat market. That's fine, but we'll get to why that's not going to work in the lean market. And then unconcerned companies, lean fat markets. Interesting enough, people, when, when the milk and honey is flowing, they'll tolerate a lot of garbage that they will not, when it's lean or shocked when it's lean or shocked, suddenly people come very aware of companies that are not concerned about their wellbeing. And, that can be expressed in a number of ways. But you know. Unconcerned companies can get by in fat markets, they will not survive. I mean, all these things are good. I mean, if you look at this list of what fat markets tolerate, this is all the garbage of, of business. This is, none of this is like the good stuff. This is all the garbage. And so any of this stuff works into everybody's business in some way. I would have to say being totally honest, that we probably have a couple of these things that have worked their way into some of what we've done. And it's stuff that [00:20:00] you know, has been kind of called actually, okay, we got to clean up some of those things that have become, they had been tolerated in even the business. And so in lean and shocked markets, they reward compelling offers. So you really have to make sure that your offer, and when I say offers, I'm talking about the market. You may not need multiple offers you may need just one offer to each market that you serve. If you got that kind of scenario, where you have multiple customers and then you've got two compelling offers, one for each customer. That's really critical that you, you refine your offers to one very strong offer versus 20 really weak crap markets or offers. You have to be real clear on who it is that you're serving and what it is you get. We're going to go into compelling offers a little bit in this training. This is kind of an overview as, as well as drawing your attention to some things you can start working on now. So compelling offer is the biggest one, how compelling is your offer? If you get anybody that is a prospect to go on the page, they [00:21:00] instantly understand what it is that you're going to be doing for them. Okay. That leads the strong messaging. I can, I actually consider those two grouped, but because I had them in separate bullet points before, I'll put them in separate here for this. But strong messaging is really getting really clear on the benefit to the prospect. Too often I hear people saying things from the perspective of the business, and we were just talking with one of our partners in another software that we have and reviewing some of their messaging and some of their messaging was focused upon what they care about in terms of their operations during the sales process. And you know, we quickly identified that and we flipped that around so that instead of worrying about what the business was concerned about, we flipped it into what was the prospect concerned about.
Trent Chapman: Let's give a real world example there. So their messaging was, when they could start the projects, whereas the, the consumer, the customer is concerned about when will this project be [00:22:00] finished? So I'm going to have my family over. I need to have my kitchen redone. This is to be finished by Christmas. That's their concern. Whereas the messaging was when they could get started where an individual, as a consumer, as a person hiring them. I'm more concerned about why I want to get this done. I want to be done right. So the messaging has to come from the perspective of what is the person receiving the message want to hear versus what do I want to sell them from my time for my timeline, my perspective.
Ryan Chapman: Okay. Now it's not to say that's not important to know when you want to start the project, right? But you can deduce when the project needs to start by asking, when does it need to finish, when it needs to finish, is what's important to the prospect. And so that was an example of creating stronger messaging. So in every step of your interaction with your prospects, are you coming at it from their perspective or have you let your perspective kind of seep into the whole messaging and we see this a lot. You know, as we review messages, they're going out through Fix Your Funnel. We see a [00:23:00] lot of messages that have almost an unconscious level baked into them the needs of the owner, versus the needs of the prospect. And it's a simple tweak, but it's a powerful outcome when you tweak that. So when we talk about strong messaging and how the shocked or lean market rewards, strong messaging, it's just looking at all of your messages, your emails, your text messages, your voicemails, whatever it is that you're putting out into the marketplace and saying, Hey, is this really tapping on the, the perspective of the prospect, or is this, is this coming from our perspective? And once you get those perspectives, right, that's one of the first lessons I learned from Travis Tulstrope when he took me by the credit card and started teaching me marketing, which was the you ratio versus the me ratio. And that was, you know, a simple ratio. But that concept is, is our messaging unconsciously communicating our needs versus the needs of the customer or the prospect. And if we switch that, that turns into strong messaging versus poor messaging. Okay. Those shocked, the lean market rewards the [00:24:00] simple mechanism and the simple mechanism I used to refer to, but I got bored of saying it, but you guys probably haven't been bored of hearing it is the yellow brick road. You should, your, your process or flow for a person to go from prospect to customer should be so simple that little munchkins can come out of the flowers and seeing it simple enough that a shocked little girl that just fell out of the tornado can understand it and remember it and followed all the way through. So that's how simple the mechanisms that you want to put a person through to go from prospect to customer need to be. And simple doesn't mean unsophisticated. Unsophisticated is, you know, it's kind of rudimentary. There's red lights in it, that kind of stuff. Sophisticated means we pay attention to the psychology of the movement from prospect to customer, and we make that as slippery and as easy as possible for the prospect. So that means it has the capacity for them to get more information if they need more information, but they'll move as quickly as they want to, if they're [00:25:00] ready. And so we'll talk about that today as well. We'll talk about compelling offers, messaging, and then mechanisms next to the lean or shocked to market really, really rewards focused entrepreneurs. So entrepreneurs who know who they serve and what the, you know, what value they bring to the market and they, they, when they know that, when you know that it's very easy for you to do the right thing. When you're not sure about who it is that you serve. Like you say, Oh, I serve everybody. Mm, no, you don't. You don't serve everybody. Okay? If you think you serve everybody, that's a good sign of a problem in your business. You got to know who you serve. What problem it is that you solve for them. And when you're super clear on that, everything else is going to be better. You're going to have stronger messaging, your offers are going to be more compelling. It's going to be easier for you to refine down to simple mechanisms for moving someone from, they don't know about you to launch long life term [00:26:00] customer and hopefully evangelist. So the focused entrepreneurs, the one that's going to be rewarded. So if you've been kind of all over the place, you've found yourself dabbling in a lot of different things and you haven't been real solid. This is your opportunity. Focus in figuring out who it is that you really want to serve. Now, when I say that, the only caveat I want to add is you've got to make sure that it's a market that wants to pay, right? You could focus in on the totally the wrong people. I had somebody I saw on Facebook the other day talking about how they wanted to serve people that operate in snow cone machines. And I knew this individual. I knew, you know their skill set. And I'm like, well, that's one of the stupidest things I've ever heard. And I didn't mean that to be unkind to them, but the reality was, there's no money for that market to be paying you. So with the skill set that you have, is that the right market to serve? And you want to, you know, if you've got to work, you might as well do something where you're going to be rewarded for it. You know, [00:27:00] it takes about the same amount of effort to make multiple millions of dollars is it does $100,000. It's just different, applied in different markets in different ways. And so you know, and if you want to go even higher than that, it probably takes a little bit more work, but then it's different work, it's more team than it is a focus. But at any rate, the focused entrepreneurs are going to do much better. And so right now is the time to get focused, clarify who it is that you serve best. Really, really know what that is because when you know what problem it is that you solve best, and hopefully that's a problem that's, that's valuable to the person that you're solving it for, that they've demonstrated through past transactions with either you or somebody else that they're willing to pay for it. But if you know what it is, the problem that you solve and who you solve it for, now you're in a really great position to have compelling offers, strong messaging, and you'll be able to create simple mechanisms because you know exactly what it is that you're doing. Not finally, but next, the lean or shocked market rewards strong communities and [00:28:00] messages. The reason this is different from strong messaging, even though it's related to it, is strong communities and messages are our communities that know what they're about. One of the things that we learned with our first company that was created during a downturn that was very successful is we had a very clear message of what we were about in our community, had a, a common language that they used. Part of the thing of creating strong communities is common language, common storylines. So, in our storyline, it was us versus them because we were siding with the homeowners and the real estate agents and we were against the banks.
Trent Chapman: One of the things...
Ryan Chapman: Go ahead Trent.
Trent Chapman: One of the things I think that shows a strength. This community, just, these are people we haven't worked with for probably five, six years or more. I've had three of them reach out to me over the last 48 hours since Friday to Monday. Reached out to me wanting to see if there's anything that we can do together. [00:29:00] And I haven't talked to these people for five, six years, but we had such a strong community that they still reconcile. See Ryan and I as part of their team, even even years later, that business doesn't exist, but they still see us as part of their community because that strength and that community we created during that time of 2008 to 2012.
Ryan Chapman: Yeah. And so I recently did an interview for a podcast with a gal and as she was talking about her business, I just got so excited because she has a very clear community. In her case, she serves female entrepreneurs, so she knows that's who she serves. She doesn't serve men. She doesn't serve anything else. She serves women entrepreneurs. And then not just all women entrepreneurs, but women entrepreneurs that were in these four categories is like coaches and something, something. I can't remember what all four they were, but she was very clear on who the four people that she served and because she knew who she served, this goes back to the focused entrepreneur thing and the strong messaging, but because she knew who she served, what [00:30:00] problems she solved, she was able to create a strong community around that. She knew what their weaknesses and challenges were, were the things that could kind of cause them to stumble and she addresses things in her community to meet the needs of that community. And so she has a really strong community. You know, a community is strong when they start identify themselves by a new name. So, and they call themselves the Sparkle Girls or something like that. In ours, they were the Short Sale Geniuses. We haven't really done that with Fix Your Funnel and that's like one of those weaknesses that, you know, we do have, I think, a pretty strong community, but we could have stronger messaging in terms of what we're all about. And so that's one of the things that we're working on in 2020 is becoming more clear on that. But that strong language where everybody that's part of the community knows certain terms. I mean, we do have that going for us, but you need to have that in your business as well. And you don't think that you can have this in any business? Open your imagination, because in any [00:31:00] business, you can have this kind of community. You know, I think about, and I brought this up a couple of times, which tells you how strong it is in terms of an example, but there is a donut shop in Escondido, California, where, because of the community they have built and they built it a little bit differently than we built our Short-Sale Genius community, people, people think about them, they buy from them even in, in, lean and shocked markets. They make a point of going out of their way of giving them money for the product that they produce because of the community they've created around their business. They know all of their customer's names, like even obscure customers that live in Arizona and only come in once every so often.
Trent Chapman: I go in there with my family and they know my name, my wife's name. We go there maybe once or twice a year and they say, hi so and so...
Ryan Chapman: Do you go to Nutrient?
Trent Chapman: I don't know. I don't think I've told my birthdays, but maybe Sean has.
Ryan Chapman: I don't know if Sean told them, my birthday? Sean's another one of our brothers, but they know my birthday. I was like, Whoa, Whoa, Whoa. How'd that happen? You know, they, they go out of their ways of remembering these different facts. There's a [00:32:00] lot of different ways to build strong communities, but strong communities are super critical in lean and shocked markets because you need to have an insulator around your business. And the way you create an insulator about in your business is you create a community around your business. And, there's a lot of ways to go about doing this, but there's a really critical point and we'll, we'll do a training on this and talk, get more in depth and more strategic on it, but it's really important to create a strong community with strong messaging. You cannot be milk, toast and create a strong community. Strong communities are built on very defined language of what it is you're about and what it is you're not about. So there should be disqualifiers for people in the community if they act or behave or do or say certain things. They have to be cut off of the community if they behave or act and do things in the right way, the way that that the community's guidelines are essentially then they're part of the community. It's not so much about rules and ticky tack, things like that. It's a sense or a feeling that people get, they know immediately someone [00:33:00] belongs in the community or they don't. And so that's kind of the community you want to create around your business. It's insulator. It protects your business from during shocking leaned markets. You can also know if you've created good community because you have evangelists for your business and you know, you have evangelists for your business when people, not because they're getting money from you, but because they genuinely love your product or service. Talk about it to other people. Defend it. Bring it up when people ask questions. So you want evangelists. If you have not reached the evangelists level for your community, then you have work to do on the community still. So that should be a goal that you have. Otherwise you will not survive doing lean and shocked market. You need evangelists. Evangelists are a sign of a strong community. Finally, lean shocked markets reward genuine concern for customers. So genuine concern for customers is known. This is how you know that you have genuine concern for customers because you care about the problems that they face and your solutions match the problems. [00:34:00] Okay? You don't look at the truck and say, well, what do we got in the truck that we can sell people? You look at the person you diagnose and then you prescribe based on their needs. And so that genuine concern for customers is expressed in a lot of different ways. One of the more important ways is in customer support. So we talked a lot about marketing and sales at Fix Your Funnel because a lot of the mechanisms we develop are primarily, you know, try and help people with that problem 'cause that's the problem that entrepreneurs care about. But in a lean or shocked market, you have to be really careful about customer support. Customer support is what happens after the purchase. So after someone says yes, what do you do to try and make sure that they get the outcome that they're after? And that's customer support. That's really critical. That's, that's how you express genuine concern for customers is you make sure that you deliver on the promises you make during marketing and sales, and you do the things that you can responsibly do to make sure that that happens.
Trent Chapman: We did get a question on the Facebook page from [00:35:00] Travis Tulstrope. I don't know if he has some ideas. So we say what top three items that you evaluate determine aweak versus a strong business? Good question.
Ryan Chapman: Yeah. Okay. Well that's what I'm kind of going through right here. I think it, you know, one is cashflow, number one is cash. Well do I have reserves? Do I have a good flow of cash in the business without loans? The loans part, you know, is more of a, this is kind of like, you just got majorly injured we got to do emergency triage. That's what the loans is about. But without the loans, do you have good reserves? I hesitate to say a per, you know, an amount. I've heard amounts anywhere from three to six months reserves up to two years, so I think that's all over the board. Probably a lot of it depends on, you know, what is your consumable in your business in terms of expenses.
Trent Chapman: The margins as well.
Ryan Chapman: Your margins, you know, a lot of those things can indicate how you know, what kind of reserves you need to have in place. But then cashflow means how repeatable and [00:36:00] consistent is the, is your income flow. So is the money coming in? You know, how variable are your costs, you know, those kinds of things, you know, kind of incorporate into what I would look at. It's very specific. I don't know if I have general, cause I haven't thought about it enough to give you the, the top three Trav. But the long and short that I'm looking for is do we have the cash to continue in business through the learning curve? Because when markets change, you've got to learn. You've got to make adjustments. And if you haven't already focused on this, these six items, you know, then there's, there's always a little bit more to learn as well.
Trent Chapman: One thing also you mentioned earlier, was sometimes you have to decide, is my business not worth keeping open? And there's some cases where we look at the mass of a business and a fat market supported that business, but in a lean market, it's going to be a tough decision, but you might want to consider shifting to a different focus or different business model. You can stay the same industry, [00:37:00] but shift your model to serve in a different way where your margins are better and your math of your businesses better because you've seen a lot of businesses that have great services, but poor business math, meaning that it doesn't make sense what they're charging for what they're offering. They can't sustain a business on that.
Ryan Chapman: Okay, so now we hit the choose your own adventure portion of this training. Because I'm looking at it and we've got 20 minutes before our deadline to end. And so as I look at that, I've got, I've got easily 20 minutes in the next two slides, but it doesn't even focus on compelling offers, strong messaging, and then simple mechanisms. And we could easily cover this on another day and just focus the remainder of our time answering specific questions about your situation, what, what. Oh. While you guys are thinking about that, and then either commenting or raising your hand if you're, I guess it's just you Randall that jumped on for the meeting. So if you got a question, well, some people were...
Trent Chapman: A lot of people were having problems with Zoom. I think a lot of people jumped on Facebook 'cause they weren't able to get on Zoom. I think [00:38:00] there was a password. The password was "thrive".
Ryan Chapman: Yeah that link was supposed to include it. I wonder...
Trent Chapman: It does it on mobile, but not desktop for some reason.
Ryan Chapman: Oh, okay. Got it. Yeah. "Thrive" is the password. I won't hide it for you guys. That's what the password is right now. If you want to jump on for the Q and A portion of the meeting, if you had the link, but you're having some issues with the password, "thrive" is the password, so jump on the, you can go ahead, pop that in and jump on if you want to ask your question verbally, that's would be the preferred method for us to be able to talk through what it is you have, but if you have a question, you want to put it into the thing tray, you can see what people are asking.
Trent Chapman: Yeah, I'm on, I'm on Facebook as well, so I can watch this for questions on here.
Ryan Chapman: Okay. Here's the thing is if you're in a commodity type business, this is where people really get scared because in the commodity type business, there is a tendency to have a price war when markets get shocked or they go lean. And anyone that's been in business long enough knows the price wars only [00:39:00] end in, they end badly. They don't end well. So if you have a choice to go into a price war or not. I always would opt for no price war. Okay. There is an alternative for commodity based business, which is to enhance the value of the service. So commodity type businesses are trading or you know, they're providing something everybody else is providing. So the way that you increase the value of a commodity based business is you provide it in a different way. Okay. So you provide what is considered a commodity in a different way, that better meets the needs of the consumer. So one of the ways that you might see this as like if, Oh well I provide plumbing services. Well, all plumbers as far as the consumer is concerned, are about the same. So how could you provide it differently? That's going to be the question is what can you do that meets some of the needs or concerns that the market, that will make your offer more attractive. And that's kind of going into compelling offers. But Trent, do we have any questions or raised hands?
Trent Chapman: [00:40:00] Yeah, so Randall had a question.
Randall: Hey, how are you guys doing?
Ryan Chapman: Good!
Randall: I know you guys are big on the automated sales funnel. Then goes to the lead ads into Facebook and is that something you're going to continue pushing through this during these times?
Trent Chapman: Yes, as long as the metrics make sense for our conversions, we will keep doing that. So something that we always want them to keep an eye on is what's the cost to acquire a customer and what's the lifetime value of the customer. So I'm okay with, it depends on your business again, your cashflow, I'm okay with in our software business breaking even at month three to six and then making money after that. If we know the lifetime value of our customers is high enough. So even if something gets a little more expensive, and here's the good news. Attention on Facebook is high and cost per leads is as low because so many businesses pulled back on a marketing budget. They got scared by the market. The cost to get a lead is actually gone down for us.
Ryan Chapman: I should have put that on my slides Trent 'cause that's like. That's [00:41:00] 101 in a lean market. What happens is all the fools start pulling back their budgets, and if you pulled back your budget, I'm sorry, I called you fool. But that's what people do is they, they, they get scared to pull back their budgets. That's because their cashflow isn't in a good spot. They don't have good reserves.
Trent Chapman: Or here's something important though, Ryan, because I think we brush over this. I just wanna make sure we put this in here. This isn't saying that we need to get sales from these leads today. We need to offer a lot of value and get people into our database, get them into our community and then over time, some of those will convert to customers. But, but right now, to build your list, your database of people who may or could be interested in your product or service at a future date or today now is really inexpensive to get them into your database. So focus on building. That community and that database right now, while the market has shifted with the messaging that works for that, instead of just pushing for sales the same way as you'd before, you can still do what you did before if it's working, [00:42:00] if your marketing is still working, keep that going. But also think about ways that you can build and add value to the people that you serve. So if I go after, for example, HVAC companies, I want to start offering some more value to HVAC companies, maybe do some free webinars on how they can take advantage of these SBA loan programs. But how can I provide, add value to my market and right now and the cost to get those eyes on your message is a lot less expensive than it used to be.
Ryan Chapman: What you see is a lot of people pulling back right now. So you, while you might make the investment, to emphasize Trent's point, the, the investment is going to be on connection in creating the lead, but not necessarily selling, it depends on your market. So some markets you can continue to sell fine cause they're, you know, this isn't how you deliver the product or whatever or where their situation is financially hasn't really been impacted. Because this is a different and interesting, downturn because some people are completely insulated and they're not noticing any difference financially except for their ability to spend has [00:43:00] been hampered. Not they're... Okay. Their ability to spend the money, not their financial situation. So they still have demand, but they just can't express that demand. They have means to express the demand. But because of our official's, you know, situations they can't express the demand. Well, that's going to come out at some point. So if that's your market, then that's great. In that case, what you want to do is just establish the relationship until they can express that, you know, then the timing will then make total sense because they can get in on it. So you do have to be very familiar with the psychology of what's occurring right now too. You know, what are people thinking? What are they feeling? You've got to be very empathetic.
Trent Chapman: Here's something I've noticed. So business owners are looking for someone confident to connect to you right now that can guide them through this difficult time. So if you service other business owners. Even consumers you service consumers, they're looking for hope and confidence. That's something that's very attractive in the market right now. So business to business, it's very easy right now [00:44:00] to get people's attention and to help them to see, okay, I want to follow what you're doing. Just by showing some level of confidence and stability and level headedness and this chaotic time, you can create a following and build your, your market in your in your whatever industry you're in, your niche. If you could come across as someone who's not being thrown off by all this chaos people seek to be with and around people who are confident and who seems successful. And usually those are, you know, go hand in hand and through confident. Usually you can see through all the chaos and look for opportunity and that kind of creates extra confidence. So they kind of go together. But what I'm saying is use this time to look at your messaging and what you're offering. Evidence is the problem. Why is he so confident? What does he have that I need to have? So just use this as an opportunity. Now you may see that your costs per cell might be changing because they're getting, we're focusing on building community and building followers. That's not necessarily making sales immediately, but if your business can withstand the [00:45:00] cashflow of the, continue to market that way, and again, keep doing what you're doing if it's working, just adding into it. Or if it's not working, what you're doing, make an adjustment and try to build some communities and following, and then we get to offer to them some solutions.
Ryan Chapman: Just know that generally people are pulling back on their ad spend right now, generally people are pulling back on their marketing. And so that means that there's a gap in the market, an opportunity to fill. So don't, you do have to take a step back, like Trent's saying, look at the market, see what the condition is.
Trent Chapman: But then what's your messaging? The big businesses that failed to do this, I don't know if you've noticed, but a lot of big businesses have a lot of negative comments on their ads because using the same ads, prior to COVID-19 people are like, are you insensitive or you're not paying attention to what's going on? So you need to make sure you're messaging is sensitive to the current state of the market, but also that you're providing value and not looking like you're just trying to take advantage of the [00:46:00] opportunity.
Ryan Chapman: Yeah, and this is where it comes down to knowing your market and being really clear about who it is that you serve. Randall, does that help you at all with the questions that you had, or is there still a question lingering?
Randall: Oh, it does. It does. I appreciate it. Thank you.
Ryan Chapman: All right, cool. Okay, so, Oh, I'm really having a hard time not going into this compelling offer slide, Trent, because it was quite a bit that is coming up in these conversations. Maybe we will go a little longer for people that want to. Any other questions come up? Scott, I saw you jumped into the meeting. Did you have a question that you wanted to ask.
Trent Chapman: He hasn't, he has chatted in it. Let me check Facebook, I don't see any questions there.
Ryan Chapman: If there's no questions, we'll go into it. I didn't, I didn't step this one out like I thought I had. Okay, well, we'll just come through it. You guys can see everything. So the, the big deal with compelling offers is you've got to solve the problem that the market has, not the problem that they have. This is where I see a lot of people going to get tripped up with the, the shock to the market [00:47:00] is they want to continue to solve the problem that they used to solve, which may or may not be the current problem. So, you know, you need to evaluate and say, well, how has the situation changed people's needs? And that kind of goes hand in hand with what you're talking about, Trent, with even the marketing. Is our marketing, is it matching up with the current sentiment of, of the public that we're, we're marketing to. But in general, and we're creating a compelling offer and strong messaging, we really have to get clear on what it is that the problem is that the market has versus what we have on the truck, so to speak. Or the problem that we've been solving, cause it problem we've been solving may not be the new problem, it may have changed and shifted. I'm seeing this a lot of businesses. Okay, so we've got a lot of people that are Fix Your Funnel users that are gym owners. Well, if the gym operated like a kind of a typical CrossFit type place, I'm not by no means a fitness expert. I do contribute to a gym, but I do not regularly go to one. So I [00:48:00] may not be the right person to say these words. I may be messing them up. I know Trent is on the opposite side of that spectrum. So you can maybe fill in, if I say anything wrong, Trent, but the long and short of their situation is for many of them, they don't have people now coming into the gym. So it's throwing them either in a place where they could lose their whole clientele or for, you know, maybe you just lose revenue. By the way, losing your clientele is more expensive than losing a month's worth of revenue because once you lose clientele, it's going to be a lot more to get them back. The value of retention versus acquisition, you're going to really learn that lesson in a lean market as opposed to the, the fat market. The fat market tends to be, you know, almost...
Trent Chapman: It's easy to replace people.
Ryan Chapman: So people just replace and they have a revolving door and it's fine. But in a lean market, retention is super critical. And you gotta pay real close attention to retention, how are we keeping people in the business versus just how are we adding new people to the business. So, you know, [00:49:00] retention is going to be a big deal, but you got to make sure that you're super clear on what market, what the problem is that the market has, because if you solve the problem, there's great value in that. If you solve a problem, that's not the problem that they have now. It's much more difficult to get people to buy. So you need to be really clear when creating compelling offers on the needs and desires of the prospects. You really have to get into the head of the prospect. And sometimes, especially if you haven't been the prospect in a long time, cause a lot of businesses I see have been started by someone who was once the prospect. You know, Trent, they or they were once the customer, and then they became the expert of the thing. So if the longer that time goes between when you were the ones, the prospect to now, the more difficult it is for you to get in the head of them. So you really have to do whatever you can. One of the things that I would do is I ran a local marketing training meeting once a month, just with, you know, run of the mill entrepreneurs. [00:50:00] Most of them don't have nothing to do with marketing automation. I would teach the marketing. And the reason I did that wasn't because it was enjoyable, because it wasn't necessarily because they didn't get it and they never applied it. So that's kind of lame, but it was to be acquainted with like the lowest situation in terms of understanding that my customers could be in and what are the questions that come up or the concerns that they have? What are the things, because that helps me to really connect with the needs and desires of the prospect. What is it that they're really focused on? How do I make sure I'm talking to that. And so you might find mechanisms that allow you to get into places where you can really get in the head of the prospect. If you're in the front line doing sales, this is a little bit easier because in sales, you know, you're talking to the prospect all the time, so you're very familiar. If you're separated that because you're actually a business owner and not, an employee of the business. Because you can be quote unquote a business owner, but you're really an employee. But if you're a business owner, a true business owner, you're kind of separated [00:51:00] from those front lines. You need to get acquainted with the front lines. Hopefully if you're using Fix Your Funnel, you're recording some of your sales calls, and so you'd go listen to those sales calls. You know, get, find out what are those discussions? What are the things that people are bringing up? If not at least have frequent conversations with your sales people. Really make sure you understand and don't discount the problems that people bring up to them, because that's going to help you to communicate creative, compelling offer. So getting connected with the prospect's mind and their heart, more importantly, is the really critical part. We talked about this with strong messaging before, but remove the focus, from the offer. Make sure that you understand that the customer doesn't care about your needs or wants. You know, even if they're an evangelist, they really don't care about your needs or wants, and that's okay. I don't blame anybody for that. And you shouldn't either, but when you know that, then that means your offer has to talk to them. It cannot talk about what you want. And I see a ton of offers, like a ton that are very [00:52:00] focused on the needs of the business and the wants and desires of the business. Flip that around. Get it on the customer. This is going to be extremely valuable for you. Okay. I've said this before. I don't know if anyone likes hearing it, but this is the truth you need to know not the truth you want to hear. Nobody wants your product or service. They could care less about it. What they want is what they believe your product or service will do for them. So the question is, what do they believe your offering does for them? Okay. And make sure you stay on that tune. And that is the tune to play. That is the only tune to play any other tune is irrelevant to them. So make sure you keep that tune on. What is it that they believe your offering does for them? So this can be difficult for some people to understand, but once you, once you take the time to go through it and really feel it, now you're going to get into a good spot. So really take the time to think through not only what is it they want after, but the people that do [00:53:00] business with you, why do they do business with you? If you think they just do business with you because they like yo u , that's part of it, but that's not it. Okay. That's part of it. Like even that Savoy Donuts in Escondido, if their donuts are crap, the fact that they knew my name wouldn't be enough alone. Their donuts are actually really good so that helps you know you, there's something. So when I go there, it's a tasty donut and they know my name. Okay, so it's a tasty donut and I know that they, at least it seems as though they actually care about me. You know what I mean? So the, the community part is an insulator, but it can't be everything. You have to make sure that you're hitting what it is that they're really after. So when I go buy that tasty doughnut, it's because I really want the experience with that yumminess as I eat it, right? It's, that's what I'm after. I'm not after the donut per se. It's the experience of, of eating it is what I'm after. And so you've got to get to that level of understanding of what it is that they're after [00:54:00] because like I know nobody wants to send text messages. What they want is they want more revenue for more security for them and their families. They want more revenue for greater sense of accomplishment that, Hey, my business is successful. That means something about me. You know? There's almost a sense of value. That's ultimately what we're delivering. And so if, if I don't understand that, then all my messaging is not going to hit the right place. I got to understand that's ultimately what I'm delivering is a sense of reliability, a sense of security, a sense of consistency of growth. If I'm not getting that sense across to my customers with what we're doing, that I'm missing the mark and I can't create a compelling offer if I don't understand that's the destination we're going for. I can't have strong messaging if I don't understand that's the destination. We're going for. So you've got to do the same thing. Okay. And I'll finalize with this. This, this is not an in depth review. We'll go in depth [00:55:00] in another training. But the simple mechanisms, this kind of comes back to Randall's question. These are what I consider simple mechanisms, and these are examples, right? But the bottom, if you look at the bottom line, the top, the first to lead at a text message with link video, survey appointment, keyword. Auto text, Cabo survey conversation started. Those are samples, but what essentially I'm doing the, the model that I'm following is education in the ad. So the ad isn't just getting attention. It's actually doing some sort of education is the model that I generally like to follow. To lead capture to diagnosis to prescription. This is one of the simplest mechanisms for going from, I don't know anything about your business to I want to be a customer of your business that that flow, this is one of the most simple mechanisms that you can have, is education to lead capture to diagnosis to prescription. If you take what Trent talked about [00:56:00] and apply this, this model or this mechanism to it, what you get is trans talking about connecting and educating. What you'll notice if you do this successfully, is that the education doesn't necessarily have to be on the exact topic that you will prescribe. If it can be somewhere in the same solar system or ballpark, that's great, but it needs to be to the same audience that would want the prescription that you can diagnose their issue and then give them the prescription to. So the education is made to connect, to build trust. To be able to build a sense of... Trent you came up with a word, and I said it in the training a while ago, which is this connection that you get to people, an affinity, right? The affinity comes from people who teach us new things, and so you can create that affinity right now, even if you can't sell at the moment. That's fine. Create the affinity, lead capture. Lead them to a diagnosis and eventually [00:57:00] you're gonna have the opportunity to prescribe. And so you'll see that I have the survey. The survey is a mechanism for diagnosis. So thoughtful questions will allow you to be able to do that. And so that's what that's all about. Okay. That's why you'll see the survey and those things. The video is, I look at video as an education tool or medium. So when I do ads, I typically do video ads. Occasionally I'll do other ads, but I love video ads because of the education element to them. So survey is a method of expressing a diagnosis. The education I typically do with video, cause I don't think there's a medium that matches it for the amount of information that you can communicate for a time period. So I really like that. And then you'll see appointment, conversation starter. It really is a prescription corollary. So that's where you prescribe as during the conversation. So the survey gives you some initial information, which may be just enough for you to spark some other questions. And then in during that conversation [00:58:00] is where we fine tune the prescription to them and anybody that goes through this process of education, lead, capture, diagnosis, and prescription is prepared psychologically to receive a direction. And so that's why I kind of like this simple mechanism above all. When we did our short sell genius business, what we did is we did do lead capture before education, but the lead capture was for education. So we were doing a three hour training live in their city. We would leave capture to get them into that, that education environment. And then in the education environment, by the end of it, we would, you know, we already knew what the problem was, so we could do the diagnosis during the education, and then the prescription was presented at the end. So that's how the, the same simple mechanism was manifest in we did there. And that's what that, because it was so simple and straightforward, it allowed us to go from $237 investment of Trent's money to having done $1.3 million at the end of that year.
[00:59:00] Trent Chapman: So we had a question here, Ryan from Travis Tullstrop. He says, what? Not Peterson Donuts on ninth street?
Ryan Chapman: Peterson is always a good choice and I will frequently do both. Okay.
Trent Chapman: But they don't know my name and they don't know my kid's name.
Ryan Chapman: Peterson. The reason Peterson gets the business is 'cause the product quality is, is what I'm looking for... Because, well, it's not about quality in that case, it's about volume. So anyone that's been to Peterson's Donut Corner knows that the donuts are huge. So that's why you go to Peterson's is because you want volume, different problem, different solution.
Trent Chapman: If I had to choose, I only had one stop to make. I'd have to go to Savoy. 'Cause I walk in and Dan and Cindy know my name.
Ryan Chapman: Yup. Cause cheers. Yep. Okay. Well that's all we have for you guys today. If you have any questions that come up, if you're watching this in the replay, just ask them in, in the you know, comment below it, [01:00:00] we will respond to all those questions that come up. Our future ones that we're going to be doing on are going to come off of Trent's list. This was just most of my, just to go down my list, this is the bullet points I wrote down. Solve the problem they have. Create an offer that talks to your prospect. A simple, repeatable mechanism to move prospects to sales conversations and, and become customer. Get clear on where you are and what you are for who or who you are for. Pick a storyline in a language. That one was the community one. And there's a few different storylines. A us versus them is a real easy one. Some people have issues with us versus them cause it separates groups, but that just happens. A care about your customer and know the value of retention versus acquisition, and we can go more into the retention versus acquisition and how do you pay attention to your retention numbers? Because a lot of people don't pay attention to that. Of course the other things that I would like us to cover, Trent that may not be on your list is [01:01:00] business models. I am very fond of the business model that has recurring revenue in it because it allows you to do your best work for people. And so finding ways to incorporate recurring revenue into your business is a really good thing. And because, when I talked about the , the commodity based business, the way that you create extra value in commodity based businesses is your method of delivery of the commodity, and when you can incorporate and mix a commodity with a recurring revenue model that puts you in a position to be able to deliver the higher quality service without it being the same kind of cost to people that it would be if you tried to do it just on a per delivery. This is where I would really like in, in the next training, we'll do a better job of giving you guys some more heads up for it, is as for you to come with your, your business model you're concerned about so that we can try and fix those business models because wherever you are, if there's issues in your business model that have been [01:02:00] expressed by the stress test of COVID-19, that's a good thing. Take advantage of that because it's, let's say in a best case scenario, they figure out that, Oh, it's not that big of a deal. Everybody can go back to work, blah, blah, blah. And let's say in a couple of weeks, everything's not only humming, but it's doing better than ever, and that's a best case scenario. If you ignore the lessons that the stress test taught, the eventually there is going to be a real downturn and it's going to kick your butt and you're going to wish you had prepared. So let the, you know, in a best case scenario, let this stress test teach you something and improve your business for it. Like if you've been casual about getting texting incorporated into your sales. Or your marketing approach, maybe let's, let's get a little more serious about that because everybody that we see that listens to what we've been teaching you guys gets an immediate double out of their sales process. We just had that video that got [01:03:00] posted a long time. I mean, how long has Athaway been around in our, our community, Trent? I remember 2009, 2010 we were talking about, he was using more of probably the OneClickUpsell back then or something. But it's been a long time he's been in the community, but he just barely implemented something that we've been teaching for the last couple of years, and immediately he got results from it. So these aren't things that take time to get results out of the, they are immediate result generators. So we put a bunch of cheat sheets out with explainer videos. The one that he was talking about in particular was the improving your sales conversation rates, or if you're doing any kind of sales calls, this is a must, must apply cheat sheet, because if you're not applying it, you're, I guarantee you're leaving half of your results on the table at the minimum. In some situations, if you were really bad, it could be, you know, you're leaving three or four times the results on the table, but at a minimum, I haven't seen, have you seen anybody, Trent, that didn't double their, their results [01:04:00] by applying that mechanism? I can't think of any scenario where we haven't had a doubling. So that's for you to pay attention to. We have a couple of others out there, like the anatomy of the automated conversation. There is some stuff in there that if you haven't applied it to your automated conversations. Apply it immediately. Pay close attention to the final step of the automated conversation. That's a huge, huge uplift for everybody that's done what we talked about in that cheat sheet there. So get some of these things that maybe you've been casual about, put them into practice. If we get a best rosie case scenario and everything works out fine, great. But I unfortunately believe that it's not going to be that nice and it's gonna get even worse and the number of people that think that they're going to be opening up their businesses that won't, are going to create immense opportunities for those that paid attention to the cashflow stuff we talked about at the beginning that do some of these simple messaging adjustments. And the nice thing is, it's not like you have to [01:05:00] rewrite your whole email. You just make some adjustments. And if you get these messaging adjustments right, you incorporate the texting a little more intelligently using some of the cheat sheets we've given you. You get the cashflow reserves put aside, you're going to be in a better position. I've got a friend who's a surgeon. He's a pediatric, he's a very specialist, an ear, nose, and throat pediatric surgeon. And he said, Ryan, I had to have like almost like confrontational fights with my partners to tell them to keep the business open because we've got associates that are in like Washington DC that shut them down for two weeks and then they tried to open up the practice and all of their referral partners sent people to other places. And so all the sources of businesses they have are gone. And I think there's a lot of people that have shut down businesses thinking, okay, we'll just shut it down for now. So we don't have expenses or anything we'll lay off some people and we'll come back and turn it back on. They don't have a strong enough business to be able to turn back on. They don't know it yet. So the worst, I think, unfortunately, is yet [01:06:00] to come. We're going to see it in the next probably two to six weeks. We're going to start to see how bad this thing really is going to become. And if you haven't done any of the preparation work, if you haven't done any of the adjustments, if you haven't worked on your business model, if the stress has showed that it's not going to survive, you're going to be hurting and I'm going to be really sorry and I'm going to be really sad for you, but I hope that you'll pay attention. You'll make some adjustments if you need any help, communicate with us, our chat support, they don't know everything, but they will find answers for you. So if you're like, Hey, I need help with this, or, you know, can, can Ryan or Trent help me with that, communicate with us cause we're here to help you guys. We're here to serve you because it's in our best interest to make sure that you make it through this thing strong and solid. And if anyone's been using what we've been teaching, we already, we know you're in good shape, but if we can do anything else to help you, we want to do it. So thanks for your time and being on this training. I hope you guys got some good ideas of where you need to start focusing. If you want more examples, [01:07:00] kick over your, your example, like I'm not sure this one seems like it may not be on par. Kick it over to us. We'll do it. If you want to post it in the Facebook user group because you feel safe there, post it there and we'll, we'll do it right there. You guys, we have a lot of experiencing good messaging versus bad message, effective versus ineffective. So if you're not sure you're on the fence, let us help you out because a few tweaks of words can make a huge difference. As a, as they say, big doors swing on small hinges. So thanks so much for joining us today. We'll give you even a better heads up for next time if you haven't already though. The text "push" to (760) 621-8199 you really want to be paying attention to this push notification app. We got our Android beta back to us last night. We're testing it right now. We could have Android ready as soon as the beginning of next week, and that means you guys can start experimenting and playing with this push notification service. This is huge. [01:08:00] You can send out tens of thousands of messages in seconds. Do it. So it's going to serve some pretty good results. I didn't do a whole lot of preparation because I've been doing a lot of interviews cause we're hiring people right now. So I didn't get to get the good preparation I wanted to for today's training in terms of showcasing how you guys can even push people into webinars with it. But that's definitely something can happen. I kind of complicated stuff with that password and not telling you where the password was. That's cool though. But you guys are going to want to learn about this as another medium that I see as being really critical incorporating it in. So if you haven't done the texting, you're like, well, I don't want to do push notifications at the same time doing both at the same time. There's to be some benefit to it. And if you guys get how the mechanisms work, you guys are going to be able to do things I haven't even thought of yet. So. Yeah, the push to me app, you're going to want to get into it and look at it and play with it and see how it works. It's very simple, but the potential that it has for your business is going to be pretty big. So [01:09:00] it has a lot of the upsides of texting and not the downsides. Doesn't have all the upsides of texting cause doesn't have the conversational component to it, but that place where maybe it's less effective to use text anyways, it'd be more effective to use push notification. This is going to be a real big win for a lot of people. So who you want to get in on that? So, all right. Thanks so much, guys. If you had questions in the Facebook group, I'll just answer them there.