Mike Minutes Mastermind 12/26/2023

Hello everybody. Happy Tuesday. Hope everyone had a fantastic Christmas yesterday. So we got things kicked off while I'm getting this set up. Quick note. On Friday there was a mention about disappearing visits on copilot. So like when you have completed a visit, they wanted it to go away so they don't see it anymore instead of having to scroll down. You can do this by incident in filters. So just go to your filters in your app at the top. You can just make it where visits that are completed are no longer seen. So just FYI, I did not know that in the moment, but when I went in to make a ticket for the dev team, I poked around a little bit. I noticed it can be achieved via filters. So just do not completed as a filter and then the ones that are completed will not show up.

All right, let's go and jump into.

Questions. I don't think I put this in here correctly. Here, I want to try this again.

All right.

20. What? Whoa. Why is it the second? What in the world did I do wrong? Sorry, I misnamed this one. 26 save. All right, now we're in business. Let's see we got in terms of.

Questions. Well, a lot of people live this morning. Let's hop in here.

Okay, first question is from Kyle Tarvin.

Is there some sort of debt you can get on a business to set up a location and do a cash out refinance down the road?

A cash out refinance is going to be like on a piece of equity, typically like a house or a truck.

So like cash out refinance means you have equity in something and you're pulling cash out via refinancing. So let's say you own, you owe $10,000 on a $50,000 truck. You could do a cash out refinance. I pull the cash out by refinancing the truck. And all you're doing when you refinance is getting a bigger loan amount and pulling out that equity, that trapped equity and utilizing it for cash. And you usually do this if you can get a higher return on that money.

So yeah, like this is most, most common with houses. You know, cash out refinance of a house.

So I don't know why you dealt with the business necessarily, but only like I don't like you're not going to be able to. I don't think I answer this question very well. Is there some sort of debt you can get a business to set up a location and do a cash out refinance down the road? No. Like if you got a bunch of equipment debt and you pay it down over the course of a year or two and then you wanted to refinance all the equipment again. Yes, yes, potentially. But typically the rate at which you pay down equipment, that is fast. It is not faster than the, the value depreciation of the piece of equipment. So by the time you want to quote, unquote, refinance, it's rare that equipment has gone up in value. This is only something that's a phenomenon in the past couple years. But it's not going to like be like that forever. And it's already showing. It's not. Next question from Connor in Evansville. Question about Google Ads. Used to post a video like every two to three weeks about Google changing this or that and tweaking our ads. Correct me if I'm wrong, but I have not seen update from video about them about tweaking or updating, et cetera. Should they do occasional visit update videos? Should we learn some of this on our own or are their videos just fine and still up to date? So the ones that I put up there are the Google Performance Max. The ones that Evergrow has put up there is for search only. And so if you are in growth mode and trying to spend more money, Performance Max is going to get you more awareness. If you're, if you're a little more conservative and only want to spend the 10, $15 a day, the search is probably going to be your best bet.

If there are things that when you're setting up ads like in the search one, like there's things that completely change and you have no idea what to do, contact Evergrove. Like hey, could you put a new video up? Same thing for the ones for Performance Max. I haven't seen that be the case. Performance Max made a bunch of changes last year, but now they've really settled into their product and really honestly what Performance Max is doing is it's trying to replace all their sales reps at Google. They're cut, laying off tens of thousands of people in their sales department and it is being because like quote unquote, AI people are going to call AI. It's not AI, but they're doing it is really machine learning and it is really.

You know, looking at big data and just like extrapolating a bunch of information to, to recommend to you specific things that you should do to spend more on their platform. And that's typically in the past what used to be an account executive would do for each account. That's why if you get a call from Someone at Google, I can almost guarantee you 99.9% of the time it is a scam or, or someone advertising and saying they're from Google because they're not from Google because Google's smart enough to put AI in place that will recognize all the different data points of your ad campaign and then pitch you on adding more services like, hey, this could be added to video. This could be added to, you know, put these more hyperlinks and broaden your audience. And as Jake. Jake, yeah, Jake said at conference, like, they're incentivized to make you spend more money, not to get you better results. So like, listening to that advice is not always the best thing. That's why a lot of times when people watch the videos I make on Google Ads and like, oh, it only says it's 70% optimized and it needs. When you do like all these other things like, yeah, optimized for Google so you spend more money and you increase the wide, the net of your audience as wide as possible so they get more clicks. So just be very careful listening to either a salesperson from any place around selling ads as well as Google themselves when it comes to their recommendations, because they're always going to recommend you to have a wider audience and more keywords, et cetera, when it's not necessarily what you might want for your business. So just be careful about that. That's the biggest reason why people say we need to make new videos is like, oh, like it's saying I need to do this. And that's not in the video. It's like it's not in the video because they came up with a new product and a way to pitch you on adding more things to your ad. So just be careful about that, I would say, but. But for both myself on the Google performance max, as well as for Cody and Jake at Evergrow, if you have. They sent me a letter the other day, bless their hearts. They sent me a, A nice letter.

I forget where it went. I usually keep them on my desk for a little bit, but you know, their business has done really well. And so they're saying thank you just for the kind of, the endorsement. And I don't get paid by them to say that they do a good job, but I, I just trust the way that they do business. And so, yeah, like, the videos are really good. Watch those. If you need updates and something's completely changed, reach out to them and I'm sure they'll be happy to make another one if needs be. All right. Everyone, I hope you have a fantastic day. There's one more week in the year. There's a lot of that. You can get done an entire week. Don't throw this week out. Don't be like, oh, it's Tuesday, Wednesday, Thursday, Friday, Saturday. Then it's like a new year. It's like, you got five days. It's like 2% of a year. Let's go. Let's make. Let's make. Make it worthwhile. People throw this week away, then. Then all of a sudden, they get the first week of January. Like, they throw that week away too, because, like, oh, it's the first week. I'm just trying to get started. It's the same thing with, like, generally, in terms of saving time, in my opinion, is like, if you can just cut down on how long it takes you to start up and then finish tasks, you usually can half the time it takes in total to get the task done. And so I look at a year the same way. People are like, oh, like, we're wrapping up the year after Thanksgiving. People, like, kind of like, check out, and then they get to the first. It's January. It's like, oh, I'm just trying to get started. It's ridiculous. Same thing, like, starting starting weeks. Like, oh, it's going the Monday morning blues. Like, okay, well, there goes 10% of your week out the window. And then it's like, Friday afternoon. Well, that's kind of thrown out the window too. All of a sudden, it's like, you are very, very unproductive. So startup, time and time, it takes you to. To close out things. If you just cut that out, the time it actually takes to do the task, even if you don't get any more efficient at that, you'll get way more done. And so I look at the last week of the year similar to that. All right, everyone, I hope you have a fantastic day. I will see you tomorrow.