Mike Minutes Mastermind 07/15/2024

Hello Guest Nation. Let's get this thing kicked off. Several announcements tomorrow, Tuesday, July 16th is the Roundtable live Zoom Call. I sent everyone a video or a email with that notice. 4:00pm Pacific Standard Time, that's 7:00pm Eastern Standard Time.

This afternoon is the cut off if you want to put your name on the ballot for this year's Franchise Advisory Council. Also in the email I sent yesterday, feel free to submit your name. I'll be kid off the day and then we'll switch over to the actual voting.

I know I had already mentioned this, but this is available as a PDF download on the dashboard. It's your general manager meeting sheet. I'd recommend it even if you don't have a general manager because it's just a great way to do weekly number tracking instead of just the monthly. For your coaching call on the Coaching Dashboard.

The media team is working on a document that Connor and a few others had worked on for Christmas Lights terms and conditions, a PDF that you can attach to your estimate emails that is nicely laid out and has like one pager of all the terms and conditions. So that should be done if not today, tomorrow, a bunch more announcements coming down tomorrow at Roundtable for the dashboard, etc.

That's about it.

Yeah. Oh, for those interested, I sold all my individual stocks and bought only ETFs and indexes the other day. Let's go. It's very risk off move. All right, present Share screen. What do we got today? Let me pull this one out there. Okay, we got three questions. Share screen.

Okay, no, I do not want to click that. I want settings. All right.

Number one, Kyle Tarvin, is my thinking correct on this? $800 ad spend should generate us a minimum of $8,000 in revenue. That would be a 10x return on investment on our ad spend. Let's say we're so just to clarify, it is.

In the first year, the easier way to actually track this really is for recurring jobs you want to recoup the cost of acquisition within three months. And for project based jobs, I typically don't want to spend more than 5% of the total project value on marketing on the customer acquisition cost. That's the easier way to do it. But I do also want to be a more ideally from a Velocity standpoint, I want to be able to get at least 10x my customer acquisition cost within the first year of that customer. So.

If I spend $800 within the first year, I'd like to get 8,000 in revenue from that ad spend. Let's be doing door hangers and we pay someone $800 per month to hang door hangers. If an average mowing is $1,200 per year, we you need to gain a minimum of six to seven customers per month for the market to be considered effective. You're correct. Personally I wouldn't be happy with only six to seven customers a month for $800. But just curious if my thought process is correct here regarding ad spend versus revenue generated. Feel free to poke holes in this. No, I agree with your premise. It's not great but it needs to be above that number. Right? So the average has always hovered between about 13 and 15x when I've done tests inside a gustination but some people blow that out of the water because they don't spend much on marketing and leads are coming to them especially as the allocation ages. But yeah like you'd be wanting to get more than six or seven customers. That being said, you know, spending if you break this down, you know 100 $120 customer acquisition costs for say a mo customer. Not bad. Not bad Even at the 10x what what you're kind of figuring right there.

So.

Yeah I'm I'm trying to get that within the first year above 10x on the in the first year knowing that your your first year is also when most of your attrition happens. So most time when you lose customers it's going to happen within the first three to six months of getting getting them as a new customer. If you can get them past six months usually they're going to stay until they sell their house.

Val Thomas, Nocatee, Florida I know we have the feature on the dispatch board now to view multiple days. However it doesn't seem to work if it's a one man crew.

When I select multiple days and click apply it says no events found. Both of our trucks are one man trucks so checking to see if this is a bug or not. Feel free to submit to atc. You might have a filter put on.

Or like an employee or crew selected so check with them. If it is a bug they'll But I I know I was looking at yesterday and I had just myself a dispatch so yeah feel free to submit to them. They'll take a look at your account. Second question, will there be a feature coming to clock into more than one property at a time? We have more. We have many stops where we have two to five properties at one time and can't clock in and out of them at the same time. Yeah it's not like Anytime soon though. It's it's on the roadmap.

By the way, I'm very excited for the upcoming feature to save the order of a route so I don't have to reorganize it every week. So that's not the one that's coming up. The route order 1 is the one where you'll be able to right and left CL on the numbers of the map. That is not going to be the same as what you're thinking, which is like master routes. Although that is also on the on the feature.

Roadmap and we'll probably simplify it at first instead of making it like master routes. It'll just be where you save it for future more like what you're talking about where it's just like the order will just save for all recurring events in a route for the upcoming next series next week. Day of the Week.

Kyle Tarvin where is your business turnaround book on audiobook? I saw someone say it was on YouTube currently, but I'm not finding anywhere or on Audible. Thanks. Yeah, so it's not on Audible yet. They take about 10 days, so hopefully later this week it'll go up on Audible. If you want to listen to the audio program for free though, you can just listen to it on my podcast. So Home Service millionaire. It's like 13 chapters, just 13 episodes on the on the podcast. So completely free. You can listen to it there.

Yeah. Wow, that was a short one for a Monday. Cool. So like I said later today I will probably have the terms and conditions for the PDF of Christmas Lights up on the dashboard. Cool. Updates coming to the dashboard. I'm going to release that tomorrow at the turn at the roundtable so make sure you're there for that tomorrow evening. I will not have a Mic Minutes Mastermind tomorrow that will be replaced by the roundtable, so make sure everyone is there for that. If you did not get that, it is in your email. It has the link to the Zoom call directly in it. I'll probably send a text message out right beforehand as well. Just to give everyone a heads up that we are going live Tomorrow evening at 7:00pm Eastern Standard Time for the roundtable. If it's your first one, 15 to 20 minutes of updates and announcements and then we'll open up for Q and A and you can ask me any questions you might have. Hi everyone. Oh and the FAC voting that's ending this evening, so please if you want to get beyond fac, you need to submit with the next few hours and then we'll switch over to the actual voting process, and I'll update that probably tomorrow morning for the voting side of things, for those that put their name forward. All right, take care, everyone. We'll see you tomorrow.