Mike Minutes Mastermind 03/16/2025

Your mind done now just in case tomorrow I can't get to it. I didn't do on Friday because there's only one or two questions. We'll go ahead and get started.

Boom. This week the Junior the.

Modern estimates version is coming out for coat. So really looking forward to sharing that. Thank you to those of you that have been part of the beta group or even the mobile app that's being created. Just getting a lot of feedback on that that'll be coming out later in the spring. So thank you to everyone for just giving all the feedback what you like that you don't like and that's really good. So next week you'll be seeing that I'll get a lot more flexibility around knowing why customers are declining estimates. Way better payment flows, deposit threshold and part on file will just be way smoother inside of the new version. So really looking forward to it. Let's go ahead and get started.

First question is from Morgan if I archive past emails, will that affect my KPIs in copilot? Oh, you archive past estimates? Nope. Because just sent. And so even if you archive, it doesn't really matter if it was sent, it was sent, so it doesn't really matter. I wouldn't personally archive them probably. Unless you like. I don't want them in the like, I just filter them. Honestly, if you're like, I wouldn't worry about archiving because you just don't want it to be where it's like oh, I can't see it. It's like oh, did I archive that one? Did I not? I would just keep it and use the filters instead of archiving it personally.

Also, I don't know if archiving it makes it where they can't accept it or not. I doubt it, but I guess I've never really used it.

Mr. Anonymous, excuse you no longer filling out the how customer found out about us. I've been paying close attention because all the marketing dollars I'm spending while the box is almost never filled out twice. I've seen comments that say customer got a piece of mail or customer got a door hanger, but the appropriate box and the customer profile is filled out. So keep in mind that if like an instant pricing instant quote is filled out, for example, we don't have that information. The only way that we would get this information is if we call and they have a specific answer. So you will get this information. And there is a.

How do customers find out about us? It is a field, but again the only way we ever get that is if you're on the phone with them and the vast majority are not going to be coming through instant pricing or even if someone doesn't just a regular excellent request form.

You know we are not getting that information. So.

If you wanted to you could adjust inside of your copilot settings where they heard about us. I get other options and stuff but I think there's like five or six that are like the common ones that are in that drop down kind of for everyone's account. Mel Thomas from Makatee, Florida with the small menu and large property web form the site the form doesn't capture the contact information unless they click agree to the text question. No, it does, it does collect it. Would it be possible to have them put their info in and have a message that triggered the show as soon as they are on the last line as their quote is coming up next. Does everything look okay or some other way to capture information? So we do follow up call to try and salvage the opportunity if they abandon the process as soon as they see the price, maybe not text them to COPA but be able to call or email them. So this first part isn't correct that that question we have on the form is literally for compliance only. It doesn't block you from using that number or anything like that. It's literally just for Twilio. It does nothing and they, they can proceed without checking that box. And we will still pass along the part of the, the phone number, the part you're talking about here next is something we talked about a lot about last year and that is.

Basically trying to capture the information prior to getting giving them the price. The thing that we, we balance there is what happens when.

If they put their car, their, their contact information in and the, the likelihood of them clicking like submit and going forward is lower if they don't see their price already. So basically if there's either lose people because they don't want to submit their information because they don't know where they're going and they're so used of hey put your car, put your information here and then your price and then it's like just submitting an essay request form.

And a lot of people are used to that. So you see a drop off there. But then to your point if people don't like the pricing and they bounce, you don't get their contact information. As it currently stands we are working on a piece of technology that we think we could fix this.

And still be compliant. But basically you can't have it where they put their information in without clicking Submit. We can't like capture that. And if we do, we capture their contact information, for example.

And then the next page for example is showing their pricing. Now we have two different forms, we have two different bits of information. So the part of like combining those and then sending as one email to you or Command center, there's a delay there. So.

By making it simple, basically what you're saying is 100% true. And we have to basically determine right now as apparently the technology standards, do you want to have an upsell or do we want to capture their contact information? And so we're trying to work on this to make. We can do both. But essentially think of it like one email being sent out. As soon as they click Submit, that triggers off an email going to Command center with their contact information. But then if they don't do anything with the pricing as they've seen the pricing, then it would not send another email. But if they accepted the estimate. Now we have two different emails floating around or two notifications, two commands that are yourself accepted. We want to make that together. It currently is. We're working on something this summer we're going to start testing this again. But right now the downside of having instant pricing, put all your contact information and then click here basically so we can capture that information so you can see the pricing. There's a big drop off there. And so it's a matter of do I want to lose a customer potentially will accept that they think I'm trying to get their contact information. Because we see about a 30 drop off when we ask for their contact information without giving them the pricing. We see about the same drop off. Once they see the pricing, they drop off there. So it's a bit of like which one do you want? They almost are exactly the same. So it's like do I want to, do I want, do I want to lose 30 of people because they don't even see the pricing or do I lose 30 of people because they see the pricing and they don't like it? So it's almost been exactly the same. And so we would prefer get actual customers and let them see the pricing and they don't got from any sort of ads that you're running. So they get your price in two minutes. So that's what we've done the way in the past. But we are looking at a way to be able to do this in the future. But essentially you have to have a page reload to capture that contact information and they have to click submit and so there's a little bit of balancing out there because you do lose customers. So we are testing this bell. It's definitely something top of mind because I know we're losing about 30 of people that are seeing the price and then bouncing. But if I if I put the submit button before the pricing I also lose 30%. So that's what we're just trying to balance there. But it's a great observation. Something on my agenda for this summer after spring rush.

Mr. Anonymous, love your stock commentary with Lee on unfiltered. I would love a love a WhatsApp group or somewhere where you share with the gusts to your not financial advice, stock trades and thoughts in real time. For those interested, you just ask questions here. I'm guessing you're talking about with non financial advice at the end of the C suite unfiltered Basically last week because of a lot of the tariff.

Scares the the market took a pretty good hit. So I think the S P 500 was down like 12, 13, 14. So yeah, for the first time in two years I did buy stocks and I just buy indexes. I don't buy individual stocks anymore. So I specifically buy ivv.

Let me just give you the exacts again, this is not like don't go buy these please. But I like the A lot of people use SPY to track the S500. But the problem with spy, if you go to the cost, it's 0.009% 0.0945 expense ratio. If you look at spy, I guess that's all the questions. So that's the expense ratio of spy, which is kind of like the most common.

Most common way to track the S&P 500. However, 0.09% is three times the expense ratio of IVV.

There.

As well as another one that you can do is Voo. I believe I don't have Voo, but I believe Bo, which is Vanguard SB 500 ETF, which is ETF is just electronically traded fund. It is 0.03% as well and as the Voo.

So if you're going to buy S&P 500 and you want a little bit less expenses, those are basically the fees they charge in order to balance the portfolio. Then one thing that's nice about index funds is let's say you have a whole bunch of.

Losses on individual stocks. What you usually can't do is you cannot sell a stock and then buy it within 30 days and claim the loss. However, what you can do is sell let's say you have a whole bunch of individual stocks, they're down a bunch. You like the technology, but you want to lock in the losses for your tax returns. What you can do is sell the individual stocks and then go buy index funds that hold those same stocks. And it will not, the 30 day thing will not apply because you're buying a different quote unquote stock.

That holds those stocks that you have to just purchase. So if your thesis on the stock hasn't changed, you still want to invest in the company, but you want to lock in certain losses from individual stocks, then you would sell the individual stocks, buy the index fund that holds those stocks, be able to claim the losses. I still have losses from like 2022 when there was a bunch of cashes. I did this exact thing. I sold a bunch of my individual stocks that had losses and then I bought all index funds and then just rode them back up. I was able to lock in the losses, the capital gain losses for 2022. So I still have those. So I was basically the reason that I did that. So that way when I sell my stocks to be able to pay for the headquarter building, it'll wash out. My losses will cover most of my games, most of my gains that I from that wash that I did in 2022. A little bit more in the weeds, but feel free if you ever have questions specifically, let me know. All right. We're heading out on a trip. We're gonna be meeting a couple owners inside of Augusta Nation. We're gonna do some turnarounds. I think we have four stops. It's going to be a lot of fun. Love you all. Hope you have a fantastic week. We'll stay in touch. Take care.