Live Q&A

Let's go.

Let me get everybody in here. Let's get live on Instagram. All right.

All right.

What's going on, guys? Welcome back to another live. I am Tai Lopez.

Today, here.

Here in my garage. I'm traveling today, so I'm in a parking deck, and Evan and Ethan are going to make fun of me here. But what's going on, guys? We're live on Instagram, Facebook, LinkedIn, YouTube. We're going to be answering any questions you have around scaling your video business while I'm in my car here, and everyone else has a more professional setup. So what's going on, guys? How are you?

What up? How we doing?

Good. How's everyone's Thursday going? Crushing it.

Eventful.

Pretty good.

Yeah.

Still on my end.

What's been going on on your end? Is it. Yeah. Is it storming in Texas, dude?

Yeah. So this morning it was rain. It's. This rain has subsided. It's supposed to pick back up, but when it rains here, people just lose their minds. I don't know what to do. It's like the brakes fell off. But.

Ethan, everything good on your end? How's. How are clients? What are we working on right now with some of the clients?

Clients are good people getting, you know, ads and VSL going, working on the landing pages and scripting, all that. All that good stuff. Taking sales calls.

And who. Who did I say we were talking to? I was talking to yesterday. Who got their ads up? They're already getting leads. I'm trying to remember. Who did I tell you it was? I think it was Jeb, right?

Oh, yeah, yeah, yeah, yeah, yeah.

So, like, with Jeb, like, he. He already got his home service ads up. He got those launched. He has ads live.

He.

He has people coming in. And one of the questions I think he had was, like, he was doing more of like a free lead magnet, right, to get people to opt in. In the home service area. In. I think he's in, like, not Nashville. He's in North Carolina and, like, the surrounding areas. And so he was basically, like, running a lead magnet to get people coming in. He's getting really good, cheap, qualified cost per clicks. And I think what he was asking me was like, when do I transition from. From doing, like, the free lead magnet to more of, like, the direct offer? So I guess, Evan, maybe, you know, what I told him was like. And maybe you can. You can share your thoughts on this as well. But, like, what I told him was like, if you have something that's bringing in leads, just start Adding more friction to the form until you get the perfect qualified person, there's no point in changing the ads completely. You know, when you have something that's already working to bring you leads and bring you clients.

Right.

But I'm curious your thoughts on that. Like, what are your thoughts on doing like a free lead magnet versus like doing more of like a direct offer ad? And when do you. Yeah, for sure.

So I totally agree with you in terms of just adding friction over time. Like, don't break what's not broken. Right. But in terms of like making that ultimate switch to where we're like possibly changing our ads up or something like that, I would say when you can lean more on the social proof aspect of things, that's just going to be the thing that's going to have. You have higher leverage in your, in your ad scripts to be able to be like, you don't have to listen to me. You can see all of this and make a decision from here, and this is what we can help you do.

And maybe for people who don't know what is social proof, like what, how do you incorporate that? What does that look like? You know, just, just start.

So just results based, you know, pinpoints that you can, that you can say that you've done for somebody. If you are doing one specific type of thing for one specific type of person, generally you'll just have a myriad of all of the different results for those people. But sometimes results can vary based on what it is that you're doing for the particular clients that you're doing. You know, as we preach, you don't always have to niche. You can niche in method or person or even better both. Right. But sometimes you do have different niches that you might serve doing variable, different things based on whatever your skill set might be. And you can showcase proof and results for that because you never know at what point somebody seeing your ad or seeing anything that you've done might need help with a particular specific thing. But usually in that instance, when you have enough of it to land, to stand on. Now what that number or specific metric or identifier might be, I think is kind of up in the air. It's objective for, for many people because you could have big giant results and you could just maybe need like a handful of those, whereas you could have little micro results and you might need more of those.

I think a lot of people don't even ask though. That's the thing is, like, we have so many clients who come in like, and they've never Gotten a case study with their client before because they don't think in that lens. Right. They think of like, oh, but I have the portfolio piece. I have. I have the. The video that I shot for them. Like, that's great. But really what clients want to see when they're entering your funnel or they're going on your website is they want to see, like, what did that video actually do? And if you can get it from the person's mouth and them saying.

Oh, did he go on your end, Ethan? Oh, Tai Lopez out of the building. He has left the chat. I wonder if you can hear us.

We got Brett.

We are experiencing technical difficulty. Difficulties right now. Everybody that.

I was gonna say the same thing that you said about, you know, like, you don't have to transition out of the lead magnet. You know, you can.

Yeah.

Like, the social proof really helps. Always back.

You're back.

With the reaction. What was the last thing you heard me say?

Not getting the case studies because they don't think about. They only think about the portfolio piece, not the result of the video.

Yeah.

So like a light bulb moment for.

A lot of people. Tell us about it, Ethan. Like, what, what? And I. I know what we kind of see, but what do you see on your end when you're talking to people and you're having them get case studies? Because that's the first thing you have them do.

I mean, a lot of people go back and, you know, like. Like you were saying is they don't know what they. They did for them. Because a lot of people also come to us not having done retainers before. So it's a lot of times a one and done thing. And, you know, the relationship kind of ends after you deliver the final product. But a lot of people go back and ask, and they're like, oh, my God, I had no idea. You know, they got insert result from my content. Like, I had no idea it was, you know, that powerful or that impactful. Yeah.

And like, so many examples, like, trying to remember. I think it was Chris and.

Trying.

To remember his wife's name. But they were clients of ours a while ago. They went back to one of their dentist clients. All they did was make testimonials of patients that went to the dentist. The dentist. Like, we highlighted that. The dentist. They helped them publish that on their Facebook, Instagram, and their website. That dentist added an extra $500,000 in new surgeries because of those testimonials that they did for them. Like, it doesn't have to be anything crazy. And I Think a big misconception or maybe limiting belief that a lot of people have is like, well, I have to run ads for my clients or you know, I'm not getting them results. I don't want to do that. And like you don't have to do that. You just have to know what kind of content are you going to create for them and what does that content actually do for the business? Like testimonials, build social proof and trust brand videos. Build trust. Short form content brings in traffic. Right. You just have to. And we help you educate, we help educate you on that in master filmmaker. But it's like you have to understand what it does. You can't just be like, I am just the video guy. Like that doesn't fly anymore. And a lot of people struggle because they think that will fly, you know.

Yeah.

And maybe like I know we had a question from somebody earlier, but it was like it was around like, how do they create the right offer and something that has value in a retainer? Like, you know, I think a lot of people think or maybe have the limiting belief that they're like, I don't know if people are going to pay me every single month. I don't know if they're going to pay me on retainer. Like Evan, what would you say to people like that and how should they go about thinking about that? I guess.

Well, one, it's, it's kind of a hard thing to get over in, in, in the initial stages of things. But I think where starts to unlock itself, which sometimes it's hard to figure out the, the right first step here. But I think where it really unlocks itself is in the sales call, in the discovery portion of the sales call. Because like you were saying, like, you know, you don't have to run ads for people. I myself sometimes get caught up even in this, even as seasoned as I am where I feel like, yeah, if I run ads for people, maybe that's where more of the value is. It's really just that's where the quicker value is, right in, in terms of turnaround. Now if in the discovery call you ask them the right questions of like, what does your client acquisition process currently look like? Right? And they're like, oh, well, we run a lot of Google Ads to our website. And then you figure out like, well, their website's just not converting. Well, we can place videos on your website in places where you are trying to get them to convert and let's see what the change over there might be.

Right?

So just by you Asking the right questions. Can you figure out what the right offer might be for you?

And you don't have to hold just one offer. Yeah, and we have plenty of examples in the program too where we're like, hey, here's what this looks like. Copy this or take this. Or like, you know, we have people doing 40, 50k a month. We have some people doing 10k a month, we have some people doing, you know, 20k a month. We have people across the spectrums to where we could be like, hey, this offer is doing really well, this one's not doing well. Here's what you should include, here's what you shouldn't include. And then it's really just like making sure that you, you have that like baked in and you know, okay, this is what this looks like. This is what's going to convert and then just working, right? Like I can tell you how many times I have clients that come in and we just copy and paste what's already working and then it cuts down on a lot of that learning curve where they don't really need to, they don't need to figure that out themselves. And I think the other side of it is like people over complicate how to grow, right? And really what it comes down to is how do I have more conversations with people who are a good fit for my service? That's literally it. That's all you need to be thinking about. Because if you had 5 conversations last month and you did 10k a month, then theoretically you need to have 10 conversations this month of the same caliber people to do 20k a month.

Right.

Or 50 conversations to do 100k a month. And it's just doing the math on what? Like I think a lot of people just don't even do the math. Like how many people did I talk to this month? How many calls did I take? What was my conversion rate on the calls of those calls? How much did each person close for? Was it a retainer when they closed or was it just a one off project? And then like just do the math, like that's it. And really all we're trying to do is help you guys build a system that brings people in books on your calendar. You have a conversation with them, you, you know, you explain what it is that you're going to do for them and then you close them. You close a percentage of people on a package and that's it. Like it's not rocket science what we're doing. Like, I think a lot of people are like all these huge Deals I need to do all this stuff or like, it's going to be so much work. And honestly it's not. You just have to have enough conversations to turn those conversations into clients, you know, side conversations.

It's confidence. Because I think confidence, I think confidence within it is a big part too, because like you were saying at the beginning, like, you just had the confidence to.

Where do you think people struggle in the confidence side? Like, what specifically?

I think it's just the unknown of probably never really have done it before. It's a little bit of a. Like a. Some people don't do well with the whole fake it till you make it kind of thing, which you kind of have to have a confidence within yourself that can look like that. But yeah, everybody starts somewhere, right? Like, you can't.

Well, and for me, it's like getting around other people who are doing it gives me more confidence because if I'm just. If I'm alone in a vacuum and I'm like, I'm going to pitch this 50k deal, but I don't have anybody in my corner who's ever done that or coached me on it, like, and I don't have any backup, I'm probably not going to push very hard on that deal because I've never closed it before. Right. And like, for me and Ethan, when we joined, you know, when we first started joining coaching programs and stuff, it's like I had confidence just because I saw other people doing it. And I was like, oh, Johnny closed a 30k deal. That means I can probably close one as well. And it's kind of like that association of like, just because he did it, I think I could do it as well. And I think that helps a lot of people. And it's like super cliche and kind of like, you know, it's kind of one of those things that everybody says, but if you just get around other people who are doing it, it kind of just makes you think you could do it too, you know? Yeah, Ethan, I know. We had like one of. I was telling our clients about this the other day. It's like one of the coaching programs we joined, the one thing they changed was like, do you need a payment plan? And we said that one sentence when we pitched our price and then literally we closed. I think it was like 30 or 40k in one day because we simply changed one thing. And it was because we got around other people who were doing it. I had confidence, I thought I could do it. And that bleeds into the call because people are really buying that confidence on the sales call, you know what I mean?

I remember exactly, exactly who it was.

Yep.

The Stan Henry's program coach, Rob. I remember the people that would close too.

Yep, exactly. And it's like that just having that confidence and getting around other people is huge. But at the end of the day, it really is just having more conversations with people. And if you're relying on word of mouth referrals and you don't have a consistent way to bring people in to just have conversations, then it's going to be really difficult to get to where you want to be.

Right.

You just have to do the math. And a lot of times people just don't do the math. That's really what it comes down to. Yeah, go ahead, Ethan. I'm going to look at some questions here.

Cool.

You know, I saw a couple reels from Layla and Alex Hermosi talking about. I forget what Layla was talking about, but Alex talked about, you know, it's just a numbers game. You have to. On the other thing too, is you have to know your numbers too.

Yeah.

You can't just go off of a feeling like, oh, I feel like this isn't working, or I feel like my ads could be better, or, you know, whatever it is. So you have to know all your numbers show up. Rate, closing rate, you know, how many.

What percentage, what's your average cash collected per deal? You know, how much is your cost per lead, what is your cost per call? And then it just becomes a system where it's like, okay, I want to hit 50k a month. Well, if each client is worth 10k, I need to close five clients. Okay, what if my closing rate's like 25%? Well, that means I need to take 20 sales calls to close five clients to do 50k a month. That's it. Like, I think a lot of people vastly underestimate how much volume it really takes. Like, we've personally, I think We've booked like 12,000 sales calls at this point, like, for just for master filmmaker alone.

Right.

And I think a lot of times people underestimate, like, how much volume it really takes to just get to where they want to go. And if you just do the math, it is kind of a comforting feeling because you're like, oh, cool. Like, I can probably, I can probably get there. You know what I mean? So some questions. What questions do you guys have around scaling your video business? Like, the business side. I know some people are asking about camera stuff. I'm not the person to ask for that. I would not say my work is like the best. I'm not the best DP in the world. I was a freelance DP for five years. I'm more on the business side. So if you guys have questions around like getting leads, getting clients, scaling the business, I'm happy to help there. But as far as the, the filmmaking aspect, I'm not going to advise you on that. Let's see who we got here on Instagram. We got Keith B. We got Dom, we got Young Pops, we got Moa, we got Third Project. We have Carjack Wilder. We have. Who else do we have? If you guys are here, let us know where you're tuning in from and what questions you have around scaling your video business. And we're going to help you guys with anything you have. We've worked with I think over 600 people at this point to help them scale. We have seen it before.

Closing it on 700.

Are we really?

Oh my God. That's crazy. I remember when we first started Master filmmaker, dude, it was forever ago. I feel like an old ass man over here.

Time goes by too fast.

It does, it does. But yeah, it. And the value side is like the value side of having the retainer base stuff is it's valuable for the client if you have the right deliverables in there. If you don't do it the right way, you're going to have a lot of churn where people just sign up with you and then they leave immediately. And but if you do it right, you have people who stick with you over and over and over again and they're getting value from working with you, so then they're provided value and then you're provided value because you're able to extend the client lifetime value. You get larger projects, people are worth more. And ultimately like scaling your video business just comes down to getting more clients, making them worth more. That's it. If each client of mine pays me 100k, I only need 10 clients to get to a million dollars. That's it.

Yeah.

Yep. Well, that's something I told everybody, almost every single person on my, on my onboarding calls with people is, you know, when we're talking about niches, is, you know it. I call it the coffee shop. And the, the lawyer analogy is like, who can you help make $10,000 for faster? Yeah, coffee shop. Is it going to be a lawyer? Right?

You know, coffee shop, average order value on coffee shops, five or six bucks.

Yeah, maybe. And then lawyer, four or $5,000. So you gotta bring 2,000 customers to a coffee shop to make $10,000 for one law.

Yeah, exactly. And then that's two law firm clients. So it's either is it easier to help them get two clients with the videos or you know, what'd you say, 2000 on the coffee shop?

Yeah. Yep.

Wild. Let's see. Brett says, do you have any advice on decreasing Churn? Absolutely. So it depends on. You have to figure out a what is your client journey? So when you, if you haven't done this, let me pull that back up. You want to map out what is your client journey. So a client signs up with you for content on a, a three month retainer. What does month one look like? What does month two look like? What does month three look like? You need to map out that journey and have activation points at each stage. So maybe the activation point for number one. And, and to maybe explain activation points, I'll use an analogy like hor. I'll steal it from Horosi again just because he has good ones. But it's like Breaking Bad. Breaking Bad did a study and it was like if you watched to the third episode of Breaking Bad, then you would. You had like a 90% chance of finishing all the seasons. Right.

Kind of dry, not gonna lie.

Right. If you get past the first three episodes, they did a study that there's a 90% higher chance that you'll finish the entire season. So that's an example of an activation point.

Right?

And so like if you have those, you have to figure out what those are in your offer. So like what are the one to two to three things that you can drag a client to to get them to those activation points to where they're going to continue to stay with you. And so maybe it's like getting the scripts done, delivering the scripts, then it's like filming the content is activation point number two. And then activation point number three is like actually delivering the content and then getting a result. So you want to figure out client journey activation points. And then from that, where are people dropping off in your client journey? What does that look like? Right? And so like if you're finding people are dropping off after you film the content, maybe they're not getting very good results. Then we need to improve that.

Right?

And we want to look at where are people dropping off and then we need to plug those holes. But the only way you can figure that out is by onboarding clients, doing the service and then learning through experience. You know what I mean?

Yep. I think it also, it's also, you know, might Be like, why they didn't continue to work with you?

Like maybe and then doing, yeah, doing client feedback. So when, when someone leaves or stops working with you, like always, always, always get a survey and figure out like why did they stop working with you? Like why did they stop paying for the service? What did they not find valuable? And then something else that we do is, you know, within the first couple of weeks we send out a survey to our clients and say like, hey, what did you like? What did you not like? How can we improve our service? What does that look like? And then we're like me and my CSM team are always going through and that means customer service success managers. But we're always going through that feedback and saying okay, like what do people like? What do they not like? How can we improve the experience? And we're just constantly iterating to make it as good as possible. So feedback, surveys, looking at where people are dropping off, having a client journey, optimizing it and, and doing all the not sexy stuff that people don't really want to do. But that's how you decrease that churn. Because if I have, you know, 10 clients with me over a year, but then, you know, if I have a 50% churn rate, that means at the end of every year I have half the amount of clients I started with.

Right.

And so that's a huge revenue loss for a lot of businesses. So it's super, super key to be plugging that. Hopefully that makes sense. Let's see, we do have to jump off here in just a sec guys. What other questions do we have? What other things can we help with? Let me see. But yeah, Brett, drop a comment down below, let us know if that makes sense. But we want to map out the journey, figure out the activation points and then figure out where people are dropping off and then work on plugging those holes. Let's see, let's see, let's see. Anything else coming up for you guys? Ethan, Evan, things that you.

I got a brand film interview shoot tomorrow, so.

Nice. Okay, maybe explain to people what the purpose purpose or how you use a brand film with your, with your clients.

Yeah, so I, I primarily use those for clients for as kind of like the main centerpiece of their website. It can be put as like a social piece and on your YouTube channel or something like that and used elsewhere. It can also be used in you know, follow up email campaigns or like reactivation or something like that. But we primarily just use it on the, the website where their website lacks any sort of video content at all. Most of the people that I come across, they don't have any thing on their website that is content driven or anything like that. So it being a story, narrative story that that kind of just says the why of the business and who kind of makes it tick. And tomorrow I'm doing a guy that I go to church with, he owns a like a small auto shop. So going to do his interview portion and then gonna go back and do some B roll from there and then put it all together.

Heck yeah. I love it. Well, cool guys, we're gonna jump unless you have any other questions. Hopefully this is helpful for you guys. Helpful for you guys. If you want to learn more about obviously what we do at Master Filmmaker to help our clients get more conversations, more retainers, more work, higher paying retainers, you can probably click the link below if you're on Instagram, if you're on YouTube, LinkedIn or Facebook. If you're on Instagram, go to my link in bio and then we can help you there and see if we can help Outside of that, if you guys need anything else, let us know. And let's keep rocking and end the week strong. See you guys.

Peace from the back street Come so far Just singing over rap Take us down there's no reason to fight this feeling Because I love this life yes, he's all right and there's no reason.