Ai Generated Income

We've been experimenting and integrating AI technologies into our business in a way that's generated seven figures in just one week.

How much more successful would you be if you had lunch once a week with insanely successful entrepreneurs who share their biggest secrets on how they think and achieve success?

Grab your seat at the table, cuz.

This is Business Lunch with Roland Frasier and Ryan Dice. Welcome to another episode of Business Lunch. And today's a snackable episode with Roland where he's going to get into some more tactical strategies that you can start using to live a rich and happy life. If this is the first snackable episode you're hearing, I'd encourage you to go back and listen to some of the other episodes that Roland has put out. And if you want to get notified every time we release a new episode, go to the new businesslunchpodcast.com website and we'll send you detailed notes along with every episode. That's businesslunchpodcast.com www.businesslunchpodcast.com and you can sign up for the free email newsletter where you'll be able to get all the highlights and resources from the episodes.

So for everybody in here, you're gonna get some exciting ways to generate some additional cash flow, not to mention an update on some of the stuff that Roland was talking about yesterday. And for all the people not here, they're just gonna stay sad and poor. Okay, that's just how that works.

All right.

That's just how that works. No. All right, go ahead.

Yeah, so just kind of talking about one of the things that you guys said that you wanted to have more information about was how to generate cash flow. And so this is a deep dive on cash flow. And did you already describe what the deep dives were? Okay, cool. So as you may or may not remember, I was just wanted to try heygen, which is the virtual you thing that I shared, and see if I could use that in the last minute to fill up a webinar without me having to be around to do any of the marketing materials. Because one of the big challenges that our teams have, and probably that yours do too, is getting us to do stuff. They're like, I need you to do this and you're busy. And I was talking to Wesley. Wesley said he has clients that he, as an agency, helps do things, and he can't get them to record the tiny little bits of content that he needs so that he can put it out there. And to me, heygen replaces the need to do that. And I also used Heygen has two different levels. They've got a $10,000 level where you do your recording for them against a green screen and then they map your lips and it's like perfectly in sync. I used the, I think it was $8 version so just to kind of have the worst possible version of it that I tested with. So I ran this. This was basically a video that we made available to people and I'm going to let you have a little bit more of it now just so you can kind of see since probably you guys were in here learning.

Mind blowingly exciting to share with you. So let me start with a shocker. I'm not actually the one who created this video. No, I haven't mastered cloning, but rather embraced the phenomenal power of AI. We've been experimenting and integrating AI technologies into our business in a way that's generated seven figures in just one week. Right now you're probably wondering how the heck did they do it? And more importantly, how can I do it too? That's exactly why I'm here talking to you today. We've compressed our journey, our insights and our secret strategies into a no holds bar case study. We're pulling back the curtain and revealing all in a special one time only webinar that's happening tomorrow. For a mere $7 less than your daily coffee splurge, you can grab a front row seat to uncover the strategies, tools and techniques we use to skyrocket our success. Click the link below to secure your spot. Now spots are super limited. We're capping it at 100 participants. To keep things intimate and interactive. Be ready to catapult your business into new realms just like we did. Don't just watch the magic, be a part of it. Together, let us show you how AI can become your business's superpower. I can't wait to share this groundbreaking information with you and to see the incredible impact it'll have on your business just like it has had on ours. We are not just sharing.

Possibly. Okay, so basically to me it's not amazing as a video. And we, Brian and I both learned never move your head and hands around when you're recording this. Like to talk to you. It's pretty crazy. But despite that, it still worked. And so for you know, we were talking about kind of use cases. It's like if you are busy as most of us are, then the ability for your team to take things and do this is pretty cool. And we'll talk about some specific examples in a minute. We also sent ringless voicemails out. And by the way, the. We used HeyGen's audio voice clone. You can API into 11 labs and use your voice clone and it'll be a thousand times better. This is 11 Labs.

Watch that@epicnetwork.com AI but here's the kicker.

That's not actually me in the video because that's actually a lot better. So we sent those as ringless voicemails. We had ChatGPT create four emails. Two were sent the day before. Two were sent the day of the training. The day of the training was yesterday at 2 o' clock this time. So it hasn't even been 24 hours yet. And we sent two emails. One was like at 3 o', clock, one was at I think maybe 9 o' clock PM on the first day that we decided to do this. So we had again, chatgpt, not even our marketing head or anybody on our marketing team. We had Matt, who works with me on other things and kind of helps us do these experiments and things. Create everything using ChatGPT, just to show that pretty much anybody can do it. So the emails that it created are here. And you guys will put this up in the portal because some of you ask about it, but basically just really simple emails. Again, ChatGPT generated everything here. We just told them what we were doing or told it what we were doing and it created these emails and I did ask it to give us different subject lines. So each of the emails that went out, all four of them pretty much had a different subject line that was benefit driven. So those went out and those are just screenshots so you can see the whole thing. We also sent one text out and.

Again, Roland put those in there because you'll have those slide.

Yeah, you don't need me to read them to you. But yeah, that's. But they were pretty good, I thought, at least good enough to get people there. And then this is the one text that went out and everything drove to this page. This was hastily built frantically by content from ChatGPT and our head of marketing. So it was not any kind of rocket science thing. And he built it in, I think he ended up building it in Kartra. So it's really, really simple, template based, but the content again came from ChatGPT and it listed out the benefits and what people would learn and all that kind of stuff based on what we told it we were going to do. And so that was our first offer. And this, if you follow pricing theory, this is basically a strategy of anchor high to start With. So we started with the most expensive of the three options. We offered three options. This was 4,995. You can see, I think it says there. I can't see it that well, but I don't need glasses.

It.

We were using the weekly strategy that Ryan. Oh, there's no, there's no laser on this one. The weekly strategy. So it was basically 49.95 for 12 or 12 payments of 495 a week. So we tested that to see would that drive a lot of sales. The middle package was 200995 or $295 a week. And you can also see there are.

I don't think.

Okay, I didn't have the bonuses on here. I guess this includes, okay, the new page has bonuses. I guess I took these screenshots before the bonuses were listed. But this was 295 and then the basic package was 495. Now we did this and frequently do when we're calculating pricing. We made the high end package the exact same initial payment to get into as the cheapest package. So the cheapest package was one payment of 495 and you get the course, but you don't get any coaching or any done for you stuff. The high end package was $49.95 but also the first payment was 495. So that it's basically the same amount to get started in either one. And you'll see that we do that frequently. And there's a reason for it because it does help people to feel like they can take the hire. We learned I used to do a bunch of infomercials and we learned that people really think about buying based on what payment they can afford, not what the price is. So it doesn't matter as much what the price is as it does what the payment is. So then the call to action was twofold. Either go to epicnetwork.com aim or call Deanna call at her phone number. And so our initial Results, we emailed 84,643 people on the list. We had about 3,900 of those visit the page. We sent texts to 27,000 people that were on that list also. So we had roughly 4.65% of the people on the list that we emailed to visited the page. Now keep in mind, this was data after fewer than 24 hours. I mean this was I think about 14 hours after we had mailed it. Then we had 631 people that bought the $7 webinar and 16% of the people that came to the page in total bought the $7 webinar. And Ryan and I were talking the other day about this and Matt as well that really you only need a couple of days to do something like this and if they're coming in paid and they're coming in over the last couple of days then they're much, much more likely to show up. So you're, you should expect a significantly higher show up rate to the people who do the webinar. So we had 631 sales. 72.5% of the people that bought showed up. And some people bought by the way after the webinar because we didn't take the page down because we're going to do a replay. So so the actual show up rate was 428 people. It worked out to 72.5% of the people bought as of the time that we did this. So we have had so far $64,887 in sales and have collected 51,900 in 24 hours. Keep in mind it was done yesterday. The pitch was around 2:45pm so that's not bad and it's not going to change your life or anything but every 60 some thousand dollars does help. I want to tell you that. So that's been my experience in life. So we had 39 total sales. 13% of the sales were elite which was the high end one. 15% was the middle one and 72% was the basic. And on the phone calls we had five people that called Deanna and 14 people that texted. So people do like to respond through those modalities. We, we like to always give them the ability to talk to a live human and three WhatsApps. So we had six sales from the telephones or from those ways of communicating. So we had a 27.3% conversion rate on the people that reached out that way. So it's definitely a good thing to give them the ability to talk that way. And we have 59 last time I looked customer support tickets and asking about the program. They just have questions that we didn't have time to get back to. We know that several of those will turn into sales. We have three callers that she had not returned as of the time that, that I got this information a couple of hours ago. And we have a replay scheduled that hasn't happened yet. We estimate that we'll end up at about 120,000 on the effort from this. So that's, that's Pretty cool to me to be able to do this. Now, I did do the webinar live, but only because I didn't have the time to do it using AI. And I will test using AI next. But what to me is really cool is when you're thinking about how can you create things like this that can generate cache really quickly? Because we're talking about cache generation, you don't actually need to be there because you might find that you're a little bit of the blockade. Whether you don't like being on video or you don't, you know, you don't think that you don't have time or even if you're going to do things that you wouldn't normally do. And Ryan and I were brainstorming, talking about what if you have a restaurant or a catering business and you don't have time to reach out to people who were your customers before, but you'd like to reactivate them or wish them a happy birthday or any of those things. You can do that now with personalized bulk video messages that you just have your marketing people send out. You don't have to do it. And you can send ringless voicemails with your voice, with a personalized message. That to me, that's a kind of a game changer for being able to actually have people feel connected with you. Just don't move your hands around as you're talking.

Especially because, I mean, a lot of these examples that you see about using this technology and using these things, they deal with higher, higher priced services, right? And the reason that you can make a lot of this investment in higher price services, because if the average client value is high, then you can invest more money, invest more time in making very individualized assets to go out and get them. But you know, you had Heath talk about sending customized softballs to everybody. Why, why does it make sense for him to do that? Because a client's worth 40 to 60 grand to him. But you know, Greg Plummer, you in the room, where you at? Plumber, There you are.

Yeah.

I mean, you got a restaurant, right? So what's somebody worth to you? I don't know. But it's probably not worth you creating a customized video for everybody that's coming, everybody who's done anything. But if somebody, you know, did book a birthday party there or an event, maybe you don't want to screw with it, you don't want to fool with it. But your team can have AI, Greg, and they're going to be every single week cranking out something thank you messages. So just think about it and run it as campaigns.

Right? Think about that as we're gonna have a campaign. What data do we have that will allow us to reach out to our customers with personalized messages and then build a weekly, monthly, bi weekly campaign that your marketing team is doing with this that you don't have to be involved in at all?

Yeah, we'd love to have you come back to celebrate that birthday again for that team thing again. It might not be worth your time to film that video for everybody who's ever spent more than a certain amount. It might not be worth your time to have a follow up video going out thanking them. But is it worth your team and AI Greg's time? You better believe it. So don't think that this only applies to you if you're selling higher ticket products and services and things like that. The beauty of this is that it can apply to you if you even have relatively low ACV offerings or if you just hate the idea of being on video. Weren't you going to call out somebody who said that they hate being on video? Which means she's going to hate what we're doing right now. But Karen Sager, you're welcome. What weren't you telling me, Roland, that y' all were having a conversation?

I think you were talking to David about it. This is like. This is that I'm not super fan of being out front in the company. If you're not a fan of being out front in the company, you can. And you don't ever have to watch the video. The key is that you just don't ever watch the videos.

Yeah, that is really important.

And for the love of God, don't ever read the comments. Okay?

Never do that. Lucas, did you have a question real quick about this or even I'd say real quick, that's a kind of a prick thing to say it, but you know what I mean.

Can we start the timer?

Nice.

Okay, so have you guys automated this in any way, shape or form yet? Like is there a way to submit, like, hey, create a video with this template with this person's name. So I don't know of any integrations yet, but it certainly would be something that we could do. I know that we could create a bot for it with one of our guys that does that for us. So to come for sure.

I also know if I don't have to do it, it's automated.

Yeah.

So there's no.

Right now it's automated with humans.

Yeah. There's no reason that you can't get a VA ea. And I think that's important. You know, like you said, you automate it with systems you turn it into. And which is what I would do first, by the way. Give me everybody over the last 90 days that did whatever. And what are the data points we'd want? We'd want their name, we'd want the action that they took, we'd want the. So I'm going to go back to Greg, Greg's example at the restaurant. Give me everybody who hosted some type of group event. Give me the person who hosted it. Give me the number of people that were there approximately. And give me the occasion. Like what was the event? Was it an anniversary, was it a work party, Was it this? And then they could build a script where it just plops all those in and, and you could either have a person, you know, you could either have a. Once you've got your script, then pulling that in automatic, you know, doing a mail merge or whatever. That's not the word, but you know what I mean? It's pretty easy. Or they just copy and paste it in and make sure that it reads properly.

Yeah, cool. Sweet.

Thank you. We'll go one more over here and then we'll be around. We'll take more questions at the end as we have time.

Hey, quick question. When you do these webinars and presentations, do you have AI do the slides. Slides as well or are you just presenting on screen? The slides are done by AI, but AI there stands for actual humans. So I have, I have somebody on our team do that. It will build them, but they are not yet to the level that I think would be conversion friendly. Like if you were doing a training thing or something like that. It will definitely do that. Or a board presentation. But not to sell, I don't think. Not yet.

But it's not a blank page. Right. And so if you provide that AI v1 to an actual intelligent human, then for them to take that thing from maybe 60% to 90%.

Yeah.

And then, then it gets hand off to you. So I mean, it's like I was watching Roland this whole time, like his team building, building the slides and he's making final tweaks and that's a lot easier than.

And that's a good point.

They do typically use AI to build, to basically take content and then slot it like VSLs. We don't have to type 300 slides of text. That's all automatically done. But then the tweaking, we still need somebody to look at it. So what tool do you use for that initial AI part? Do you know? For the. It's a script that we built, which we have a whole bunch of that stuff. And that was one of the things that I decided to launch with this was a newsletter where we're just sharing all the experiments that we're doing and everything to do that. So we'll take kind of the best of those and start sharing them with you guys as well.

Thank you.

Okay. Some of the stuff still. Some of the stuff is still a little bit more techy program y for stuff like that. So I don't generally share that with everybody. Oh, nice.

And now it's gone.

It's gone forever. It's gone forever.

I'll be back.

Was there another question or are we jumping into something else?

Pay no attention to the man behind the curtain. You can't see me.

It's totally fine. Yes, sir. Hey, could you use the box? See what I did? Yes.

Would it be possible for you to share that workflow, how it's built out?

The workflow of how it's built out? Yeah, we can do that. Yeah, sure. I can do that. Yeah. We're actually creating a whole bunch of that stuff right now. So all the stuff that's behind the scenes that. Thank you, Roland.

Let me try that again. I got it. Okay, thanks.

Okay.

Anything else, Ryan?

No.

All right.

Okay. So I wanted to also share how we're using ChatGPT to do more advanced things and so to create a cash flow analysis, for example. And so here is the prompt that I used. It's longer than most, so it's across a few slides. So that's part of it. And then there's that, and then there's that.

Are y' all really trying to take pictures then?

So if you just.

Guys, trust us.

We got you. Just copy that here. I'm gonna give you a little more time.

Did you get it?

Okay, go. This is the beginning. Just copy that.

Yeah. Oh, so you went back to the beginning. Make sure you get it in the right sequence, by the way. Will you go back to the beginning again just to make sure?

Okay.

That's the beginning. Okay.

Yeah.

Did you get it?

Okay? Yeah. So that first part, especially the part there in the middle, is really important. And then you want to go into this and then move into this before you get to this part, and then finish with this. That's basically it. And it's really cool. So when you use it, I think you're going to. I'd love to hear your feedback. On how this works for you.

All right, next topic.

Or you can do this.

Good God, y', all, come on. You really think we're gonna do that to you?

Yes. So this is. I don't know if you guys know, but you can share ChatGPT threads. So this is the entire thread that I used to build a 47 page cash flow analysis and optimization report that we're gonna scroll through real quick and show you. And so you can kind of see the process because it's frustrating. You don't always get what you want. And I thought it would be cool for you to be able to see how I start with a prompt and then basically coach along. But what's cool about these prompts is that they start by asking you questions. All the prompts that we're building these days ask questions before it gets started. And then they evaluate themselves and give a chart grading their performance on how well they did in creating the prompt. And then give you the ability to have it redo the prompt based on its own criticism of the results and performance that it achieved in the last prompt.

It's like it's self aware.

And you can continue to iterate on this. You can continue to have it ask more questions. We start with five and then do three at a time after that. But that's what these prompts are doing. So you can kind of see how that worked. But ultimately what it did was, can we pull up the PDF file and we'll make a copy of this available to you guys also. But it generated this. And so I have. Or we've got an investment in a company called Mango Automotive, that's automotive repair shops that focus on electric vehicles. And so I called this Grapefruit Automotive. I uploaded some fake financial information, but I wanted to be able to use the industry information and answer the questions so you can see how it evolves. But basically, can you scroll up the financial overview? So basically it looks at the Excel I uploaded. I used the ADA that I talked about yesterday, the Advanced data Analysis, to upload a spreadsheet of financial statements. And then it's analyzing all of the financial statements. So we were thinking that maybe in a Sprint, it could be kind of fun for us to all do that together. But where you upload your financials and then we walk through the process of how do you build one of these cash flow analysis reports? You can scroll down a little bit.

More, just real quick. If we were to do something like that, how many of you would like to participate? Because it's financials Right. And some of you are like, no, but I think it'd be pretty cool.

So you got the financial overview and then it should go into ratio analysis. I think one of the things that we like the most is.

Is.

One of the things we like the most is to basically have an analysis of financial data over time so that we can see what are the trends and what are the key ratios that we're going to look at and how can we make changes and learn from those things to do things better. So it identified that there were some strategies for taxes review, marketing, leveraging technology, optimizing our pricing strategy, reviewing products and service mix, et cetera. Scroll down to the next major thing. Yeah. So then I ask it to give us industry. Did it jump way ahead. What page is that on? Eight. Okay. But you can just scroll at your leisure so that they can see it as I talk. But so I asked it to give industry specific strategies. So I had to give it information about the industry. But then it goes and researches the all of that information and it knows what the industry is, how it performs, what are the things to be concerned about. I ask it to give specific recommendations based on the economy. I ask it to give traditional cash flow maximizing and optimizing strategies. It gave me 30 of those. I ask it to give me creative cash flow strategies. And so it's just like there were about 200 different action items. Some of them were really big like business model things and go cut deals with auto manufacturers. But some of them like create strategic partnerships with local gas stations or local driving schools or things like that, talk to people that own fleets. Those are pretty actionable strategies that are centers of influence. Which is my favorite thing to look at that can help you go and find significant pockets of customers without that are that are going to be very valuable without having to do one on one outreach. So I just. We're going to share it with you. I thought it would be really helpful. Like I said, it came up with over 200 things. And so I strongly recommend that if you get the time, you do this or give this to your finance people and say can you run this type of analysis on us and then have a meeting and identify the things out of this that are most exciting to move forward with. And we've got an ICE analysis document that's a generator. You want to talk about that? How they would use that with this?

Yeah, I mean we've got. And I can show it to you later. But I mean inside the double your take home Sprint there is. I'M sorry, inside the seven figure Flywheel Sprint there is a growth idea kind of gathering sheet where all of your different ideas that you would have to grow, the business can be consolidated. And so you go through an exercise like this and then you have an informed brainstorm session. I think that's really, really important. The purpose of this 47 page document is not to have ChatGPT create this thing and then hand it off to your team and say, go ahead. Right? No, this should be there to inform an intelligent decision among your leadership team where you then say, well, what are some of these things that will fit? Because some of them, like Roland said, it's like, well, that's a stupid idea, we'd never do that. Or we're already doing that, but whoa, we didn't think about that one. Or it triggers other ideas. And then, yeah, there's the growth idea prioritization sheet that you have inside the seven figure Flywheel Sprint canvas, which I'll show you in just a minute, where you can aggregate all these ideas, you can score all of these ideas and then you can bring those ideas to your quarterly Sprint planning where you decide which ideas you're going to greenlight. And then you can do what Peter showed you how to do yesterday, which is turn that into a 13 week sprint execution cycle and actually get this stuff done. Okay, so that's kind of the basic idea behind this, but pretty freaking cool.

That's pretty cool. Do you guys like this stuff? Is this helpful?

It's helpful, yeah. And again, you've got.

Scott likes it. Okay, Scott, we can go over here to the computer and we'll just go through the rest. Can you, can you go back to the slides? But the thing that I definitely would do is I would not leave here without a plan to do that first thing using heygen. That would be one thing that I would say. What is the thing that you're going to do? If it's as simple as a reactivation campaign and personalized videos that are going to be done, or it's a little bit more along the lines of what we did, you know, can I actually, in a couple of days generate, you know, $100,000 or so of cash? It's something that I think you really should do. And the more that you actually do this stuff, the better you're going to get at it. It's going to be really. We'll end up having great collaborations in here about these kinds of things too.

I just had an idea on hey Gen, because there's. It doesn't have to be you. Right. There's avatars that you can pick from. Is there a real like mean like, like pipe wrench holding.

We know looking character. I don't know that there are avatars on that. There are on I think Brask.

I'm not sure.

But, but, but if you could hire.

Somebody to do it. You can hire an act, send out collection videos.

Yeah.

To people that owe you money.

Yeah.

And it's like I'm coming for you.

Like in a Russian accent. Yeah, yeah, I like that. I think you owe money.

Yeah, we're always thinking so. Always thinking of it.

So.

Your cat Fluffy pets names like you can go nuts with this stuff.

Building a brand campaign on Google Search. This is something we talked about I think at the event next door. But one of the things that when Ryan said let's do a cash flow session, I said well we have the 63 profit optimizers. And he said, yeah, we did that a couple months ago or something. And I'm like, well there's no way that everybody did 63 different optimizations to their profits. It's just not. That didn't happen.

Did anybody by the way? Yeah, I didn't think so.

Yeah. So. So I said I want to re mention a couple of things that I think are really, really easy. So something that applies to every single one of you is building a branded search campaign on Google AdWords. And so all we're doing here is we're buying your name, your company name, your product or service name, any trademarks that you've got. That's it. That's the only thing that we're buying for. But the performance of these things is crazy because what happens is that the search results that are the organic results are moving ever further from the top of Google. And so I think they're gonna that everyone is gonna have an organic page two result pretty soon.

Right.

Nobody's gonna actually be on the first page because there's so much crap and so many ads getting in there. So it's really important that you be. Because people are lazy. You know, it used to be that the top one got like 63% of the clicks. I don't know what the data is now, but I'll bet you that the ads are doing significantly better. I know that people are leaving if they Google you or your service and they're looking for a product and somebody else has a great ad that shows up before you, they're definitely going, there's going to be some bleed there. And so to help with that, you should be advertising as well. And so when you Google, I used to Google things like American Express because I'm lazy and didn't want to type it in to the search bar and then I'll click on the top result and it was always a paid for result, a sponsored result. And I'd be like, I wonder why all these people are buying for their actual name. This is why. Because they don't want to lose people who are looking for them to other people. And you are, if you're not doing this. So what we do is we buy this and we're averaging on this one. We're averaging an extra hundred thousand dollars a month, which is a 18x return on ad spend. 18x. And this is like if you're hurting for cash flow right now, this is instant, right? This is people clicking and going and buying. So it's a really, really quick return on your money. And if you're operating on a credit card, then really it doesn't cost you anything out of pocket.

Take all of your different campaigns that you're running and stack rank them not based on return on ad spend, not based on ROAs, not based on ROI. Stack rank them based on recovery time. How quickly does the money that you put out there come back? Right? How quickly does it come back? Because you'll have lots of campaigns with a very high return on ad spend. But the nature of the customers, the leads that you're getting from them are people that have a very long sales cycle. Whereas there are other campaigns that are attracting people that are much closer. You want to more optimize those because it's about basically just like if you're in retail, you want fast inventory turn. You can have low margins if you have fast inventory turn. It's why companies like Costco and Sam's Club can exist. Razor thin margins, massively fast inventory turn. The same rule applies to your marketing and advertising. Okay. Think about how quickly you spend the money and then it comes back as marketing, advertising, inventory turn. Some of the fastest inventory turn recovery time is what it's called in ad space that you will see is on branded searches. Because if you go back to what I talked about yesterday, Eugene Schwartz's the five levels, awareness levels. If you're marketing to those people that are most aware they're ready, they're right there on the fence. They just need to be ticked over. So optimize those and then look to scale out, especially if cash flow is an issue or a challenge for you right now.

Cool. So then the Next thing I want to talk about is a finance funnel. So we're implementing this across all of our businesses. It was kind of a long time time coming, but given what happened in July and August where we saw that a lot of people seemed to be running out of their stimulus money and their PPP money and their ERCs and everything else.

Plus they all went on vacation and.

They all went on vacation.

They blew a little bit of cash flow. They had left over on revenge travel.

Exactly.

They all went to Rome.

So that being the case, we decided to start really getting financing down. And so we've built finance funnels. And just offering financing is. It's always tough to decide because it's like, how do I know that I'm killing myself on cash flow because I'm starting to offer a financing option. Maybe people are just going to take that because they also are concerned about cash flow. And then how do I have my salespeople? If you've got. How many of you have inbound salespeople that talk to people, raise your hand. Not nearly enough. Okay.

I don't think that's true. I think people just. Because there's people who I know for a fact do. And they didn't raise their hand.

Okay.

It's just.

Dave, I like the T. Rex hand raises too, by the way. Those are really good. Okay. All right, so here's basically what we, you know, how we're doing it. So this is what the funnel looks like. If you do this, I think you'll make a lot of money.

Which is a good thing.

Yeah. Okay. So basically this is our epic challenge. And so we basically, we have a, you know, are they a coaching customer or not? If they are, then they go someplace else. If they are not yet a customer, then they go into the financial advisor funnel. And ultimately we want them to book a call with one of our financial advisors. So what happens then is they get a series of four emails that encourage them to book a call. So they get four emails that encourage them to book a call. And then ultimately we want them to book a call. If they don't do it after four emails, then they go into the til you buy or till you die main list promotions. Okay. Then we qualify them. So they have to complete an application to have the conversation with the salesperson. So they'll book the call with the.

Salesperson or the find with the salesperson. Okay.

So they'll book the call with the salesperson. And then the question is, will we let them meet with the salesperson or not? Because Salespeople. We've got one of our companies has 85 sales reps and the 85 sales reps are all full and we are trying to hire fast enough to fill them up. That company's doing very well, but the time of each salesperson is very precious and you also have to keep your salespeople producing. So this helps do that. So we basically have this 10 question qualification and scoring sheet and it asks them for their contact information and to opt in for text messages. And then it's really important. Have they watched one of our trainings or read our book or attended our challenge? For you, it might be whatever the thing is that activates an ideal. What is it? A qualified lead, Something like that.

Ideal client profile.

A qualified lead to talk to a salesperson that you think will actually convert.

A marketing qualified lead.

That's it. Mql mql. So then if not, that's a dq, which is a disqualification. So in our scoring system we take 100 points away, we encourage them, then they move into another funnel that encourages them to watch the vsl because if they haven't watched the vsl at least then they don't convert as well. So we know if they watch the vsl, they convert significantly better than the ones that don't. We know we don't want them to get on the phone with the salesperson and not have any idea who we are or why they're there, which happens or what the product is or anything. I don't know, I just, I'm here, right? And so to eliminate that I'm bored and lonely.

Your salespeople love talking to those people.

Then we have a short text. What's your goal? So the salespeople have something to talk to them about. On a scale of 1 to 10, how important is it to start doing whatever the offer is? And if it's 1 to 6 on a scale of 1 to 10, it's a DQ. They go out and then they get three cool content pieces and they go on the buy or die list. If it's a 7 to 9, then they move forward. What's the occupation? Something for us to talk to them about and then are you prepared? This is very important to make a financial investment and start working with us today because I don't want the salesperson again wasting their time with people, you know, I'll be ready in about six months. We don't want them talking, not yet. Okay, so if that's the case, yes, I'm ready and able to make the investment today. Or yes, I'm ready but unsure if I can invest today, then those are people that we're going to talk to. No, I'm not ready but I would like more information goes to the three content pieces. 8 Are you responsible and can we count on you showing up for your appointment? If they say no, even if they're just being funny, it's a dq. I don't want you to talk because if you're not going to show up, you're wasting our time again. And then space in the program is limited. Why are you the best candidate to work with us? That's asking them to sell us on working with them which also gives us more information for the salespeople to talk to them about and then how did you hear about us? So then we've got the rules which basically qualify or disqualify them. If they're unqualified, they get the three pieces of content and go into our follow up campaigns. They may be sent to watch the VSL if they haven't done that yet or they get sent to book a call. So then they get the confirmation on the booking of the call and if they don't then other things happen. Okay, so now we've got the book a call application that they've gone through that I just walked you through. If they're qualified and able to pay, then they book a call with the sales team. If they are not able to pay then they go into the financing funnel where we're going to see if we can help them. Okay, so now if they're not qualified, if they didn't watch the training, then they have to watch the training before they can book the call. If they are not qualified and not good and don't qualify to go into the financing funnel, they just get the three pieces of content. If they can't make the investment yet, then we will finance them. So they'll fill out a new application. Basically they're going to get a series of emails that takes them to a financing application and the financing application I'll go through. And if they qualify on the financing application they go to a separate person who is not a normal salesperson who's called the funding advisor. We assume the sale here and that no selling is going to be necessary because they're ready to go and the only thing that's holding them up is that they can't afford to make the investment. So now we're going to send them to somebody that's going to help them work that out. And also it's A different commission structure. So then basically we're going to prioritize and we're going to say, are we willing to do internal financing here, meaning a payment plan if we can get the payment relatively quickly. We would rather not give away money to a finance company. So we'll do that. If they can't, if it doesn't make sense to do that, then we regularly Google Amex is the best one. 0% offers and we just find out the page. We go and find a page full of offers and we'll check them out and we'll find that our finance person is doing this and we'll find basically a zero payments for 24 months. Ideally, I mean, excuse me, zero percent interest for 24 months or something like that. That gets them financed. And then our advisor will get on a zoom call with them, take them to the page and sit there with them as they do the application and get approved. When they get approved, they'll get a temporary virtual credit card number which can then be processed so that we can make the payment. In that case, again, we're receiving the full payment. The least, the next least attractive one would be $300 a week a la the Ryan Weekly payment Plan. Great invention.

Definitely didn't invent.

It was amazing that you taking all the credit. I love that you did that.

Now it's mine.

And then last but not least, they go, they go to a finance company. We're using Fin Fi. Fin is the one that I find most of the people that I know that are doing very well and doing large numbers are using right now. There are others. There's one called Ease with a Z. There's one called Coaching Financing. There's a lot of them. You can google them and find them. I think Climb is another one.

Who was I chatting with?

Vlad.

Yeah. What was yours?

Mine was a Denniff.

Denifits. Oh, it's totally different. Can. Yeah, can. Can you just real quick.

Hello? Yeah. So Dennifits is a little different. Dennifits, basically they approve everybody. But what's cool about them is they, they let you finance up to $20,000 and you could do any payments. You could do 2012 months, 48 months, whatever you want. And the way they work is they take the first month of payment and they'll pay you all the other months. Now the only difference with FinFi, they give you the money up front, but they charge you 16% with this. There's no fees at all. So they'll let you pay, but you get it when they get it? But they protect it. So they'll give you 12 months, no interest for the customer. Now, after the first month, you keep the rest. And if they stop paying and they default, they'll still protect you with 90%. So you're guaranteed those payments.

So walk me through. So I have a $20,000 customer. What happens?

All right, so we put them through the system, approved right away. Unless it's not US only. So it has to be us, has to be verified.

There a credit score requirement?

No, nothing. There's no requirement at all. Anybody gets approved up to $20,000. Okay. And then you basically, you say, I talk to the customer and say what kind of plan? We could customize it. So if they could only afford $200, whatever it is, 500, you could go up to 48 months.

They.

So what's going to happen is you put this. Put them in the system, it's going to give you 12 months, no interest to the customer. Okay. So right away, that's an incentive. Now if they'll take your first payment. So the company keeps the first payment.

So the $200 a month, they're going to keep the first $200.

Right. But you actually get that back because they charge an extra payment at the end of the month. So you get. There is no feast.

Okay.

They could leave $200 right now.

Right.

So I have $200 cash.

You as a company.

Yep. Yeah.

Okay.

They charge. They will charge interest after 12 months.

Okay, so what happens month two?

Huh?

What happens month two?

They get. They make the payments. So they could leave money down. So let's just say it's 12, 20 grand, and you convince the customer to give you five grand, they'll pay you that money right away.

Okay.

And no fees, no stripe fees, no 3%, like literally fraction.

But that's money the customer is paying.

Yeah. If you. Yes. Or go to, it's great.

Yep.

But number one, they charge 16%.

Yep.

Now I think it's even more so. And then they charge 25. They used to do 18 months. They stopped doing that. So it's now 25% interest. So. And I don't want to pay 16%, which is fine because we get money up front. So you can't run. But how many people you are just like we couldn't do with you. This system because you're eliminating the people that, like, we just did it two months, and we're at $300,000 of people that we've never even. We would never qualify. And we have like two people Right now are they already didn't pay. So we charged them $8,000. They made $150 payment. I don't know if they're ever going to pay, but we're getting. We already claimed it. So the company is already guaranteeing us in writing. It's already coming in and they pay every week. So.

Yeah. So I like the idea. I probably would add it under FINFI from a cash flow standpoint for us because I don't mind giving up the 16 because I'm running through and getting like I would have already gotten the person who could qualify. I would have already.

But if they don't qualify now, what.

I would already from internal financing, I can, I can qualify anybody I want, right? If they have $8,000, I'll qualify them. Take the $8,000 and then see if they can make the next payment. If they can only do it over some period of time, then that would be a great. That would be a great option. I love it. But that's the idea is to go through so that you can basically capture as much of that's. And that's a great resource. Thank you. That's to go through this and get as much as you can first before you have to give away 16 to 22% to a finance company. So then for the financing, the person who's on the phone helping them to figure out whether they can qualify for the financing or not walks them through the financing questionnaire. And it's similar in that it's contact information and updates and stuff. And then what's the employment status? So if they're unemployed, they're disqualified. What's your current credit rating? Because we know what we have to have a credit rating. Which is cool about what he was saying that they don't need that for that. So if they don't, if we know that there's no way that they're going to qualify for any of the financing, they'll dequeue and then we have to either decide if we're going to do it internal or not. What's the highest monthly payment you can fit in your budget tells us again, might we finance internally or might we go externally? What is the maximum down payment you can afford to get started. We're finding that information out. On a scale of 1 to 10, how important is it to you start acquiring businesses and do this. If it's less than seven, then it's a disqualify because we think that they're probably not going to be able to follow through with the payments. And then eight. Have you watched the trainings? And nine, a certification that everything is true. If the score is less than zero, then we get in contact or book a call with a funding advisor. So we're basically, the idea behind this whole process is that people are coming in that you. Like you said, there's $300,000 of business that you wouldn't have had if you didn't have a method for doing this. And so it allows us to get a whole lot more people in than we were able to get in before. It allows us to serve them by providing them with several different options. It takes our salespeople out of talking to people who are not qualified and puts them in contact with a more empathetic person who is not a closer but is an assistant at getting them what they need to be able to take advantage of the program. And then we have a prioritized ladder of what's going to be most beneficial financially to us while serving them with the ability to finance.

Can you kind of, I guess just speak. You mentioned it there in passing, but who the ideal person is to be this funding advisor?

Yeah, it's because it is a sales.

Role, but it's kind of not.

It's kind of your salesperson that. That understands all of the stories that everybody gives them and doesn't close maybe that well. But. But they're a really good human. So they're not closing because they're not, you know, life taker, heartbreaker, closer, but they are actually interested in humans. And so they're kind of underperforming. That's a good person to put into that role.

And you mentioned there was a. The comp difference.

Yeah, it just varies depending on what.

But it's going to be less than it is.

Yeah, it's less than half.

Less. So it's less than half. So whatever your current comp plan is for your current closers, imagine the funding advisor is probably going to be making 30 to 40%, you know, on that of what they would make per. Per sale. And that's in large part because they're not collecting it all immediately.

Correct? Yeah.

Cool. And then this is just. Just to kind of go back to what Ryan was talking about. What we were talking about in the, I think tactic one on day one is giving the people the opportunity to buy basically pre sales before your marketing. And I just wanted to kind of show you how it actually works. So this is that skip the line thing where we actually have the ability to let people just buy. Like he said that you got. It was almost double, right? The conversion rate?

Yeah, it was double. We had all the same people who would normally, you know, take the action at the end. We got all those people plus the same number of people taking action right in the beginning, you know, and kind of throughout. So by making the offer sooner, getting the people who are already ready to raise their hand and say, cool, I'm in, all we got was more people faster.

Nice. So at the beginning of all of the things that we do, especially long things like challenges, we give people the option to. Hey, guys, Roland Frazier here. Thanks for joining the Epic Challenge. I am so excited about what is ahead for you, and this is going to change the way you think. It's going to change your business, and it's going to change your life. The free Epic Challenge is going to give you everything that you need to start acquiring profitable businesses or to gain equity in great companies without any pocket investment. And by the end of our Epic Challenge, you're going to have a complete roadmap from start to finish. But we know that there are many of you that are looking for additional support.

And so at the end of the.

Challenge, we're going to extend an opportunity for a limited number of you to win, work directly with us and help you find deals, close them, and even do deals together, both with me and with our network. So we've typically got over 5,000 people that join us for the Free Challenge, but we have a very limited number of spots available in our master coaching program simply because it takes a lot of time to share with you. So this video is for people that want to skip the line, and I want to take some time to answer a few questions that I commonly get about what it's like to work with us. So that's it. So then it goes on for generally between 12 and 30 minutes to answer all the questions that we get from people who are actually interested in going. And it's the thing that would definitely capture Ryan or me because we're going to maybe want to go through it, but probably not and skip and just like, how do I get the thing? I mean, how many times have you come across some marketing or even talked to a live salesperson? And it's just like, can you stop the canned speech and get how do I buy the thing? But this allows you to do that. So if the people are interested in doing that, it gives them a place to go. And this is at the top of the Facebook group or the marketing piece or whatever it is that they're receiving so that they can, if you want, go through, enjoy. We love you. And most people, this is not for. But if you already know that you want to do it, you can do it. And so in terms of sales, it's again, about $100,000 in sales and 30,000 in collected cash collected per month per time that we do this. So it's definitely from a cash flow getting standpoint, it makes sense to allow people to give you money sooner.

Yeah. A lot of you, your sales cycles are too long because you have an arbitrarily long sales cycle. Right. Like, you believe that you need to have people jump through all these hoops before you can ask for the order. And if there's one thing that we've proven, and we've talked about this in a training that we did called Flip the Funnel, there is always a segment of your audience that's ready to buy Now. It's typically 3 to 5%. Imagine 3 to 5% of your leads that are coming through are ready to buy now. If you can give them an opportunity to raise their hand and say, hey, I'm ready to buy now, they would love to take you up on that. And they will generate. Not only will you get the revenue faster, but you will actually make sales that you might have lost. I guarantee there are people who have lost, Roland and I, because they wanted to force us to go through their particular process that is right for 90%. It is probably the process that is right for 90%.

It's especially frustrating trying to sign up for SaaS companies. I want your thing that you have. Great schedule, a demo. Can I just talk to somebody? Well, you have to do a demo on the call, on the demo thing. Hey, listen, I just want to know how much does it cost to do this? Because I want to see if what you do fits with our budget. Okay, well, let me start by telling you that a lot of people find that they've got problems with this. I'm like, stop. And they just keep going and they won't fricking stop. It's just, I want to pay you money. So frustrating.

Make a suggestion. Anytime somebody asks, what's the price? The next word that should come out of your mouth is a number. It should be our prices, you know, and it could be arranged, like, we can go from here to here. But it should be a number. You should be confident in your pricing, and then you can begin the justification of that, of that price. But if you hem and haw, you have lost a significant chunk of your audience. And I know that this gets taught a lot in sales training and I've just, we've just seen the inverse to be true. Like I mean across the board.

I wanted, I didn't want to skip over too. Is the denifits thing. Is it dennifits.com? okay, that's really cool. And are you gonna, is he gonna do a thing about that? Cause I think that would be really.

Cool if there's more of a thing to do then you can do said.

Thing just how you're using it. I think it would be in the 10 minute things. I think it'd be kind of cool.

All right.

If that works.

Well, I don't know where we are on the selection of those, so we will. I don't want to promise anything.

Okay, cool. Then paid ads direct to high ticket. So we're skipping. Long ago when Ryan and I first met, they had innovated going from the high ticket thing or it was mid ticket thing of the typical $2,000 to $5,000 program that people were selling. And digital marketer flipped the funnel and said let's go low and have lead magnets and trip wires that are very, very inexpensive. And we have found recently that it seems to be better just to start at the high end and then downsell and whether that will change given what's going on with the economy, we'll see. But currently it still works for us through DMs and ads to go straight to a survey page, get the information from them, have a time delayed approval. Typically it's about an hour just so that we are considering their application and then we go straight to either. Now in some companies we're into that finance funnel so that we're finding out if they're qualified or not or we're just booking a call so that they can talk to somebody. But here's an example of a retargeting campaign in one of our businesses. So we did paid retargeting campaign. It generated 20, 23 leads. Our cost per lead was $1.50. We spent 3,000 bucks. When you're talking about cash flow, something like this as a retargeting campaign could be very, very profitable for you. We had 123 qualified applicants that generated 17 sales. That was 18, excuse me, 850,000. That's a 280x ROAS. Now you obviously have to have the people you can retarget to do it. But I don't know when the last time you did it is and I don't know how Many times you retargeted them. And for us it's something that we run on a monthly basis because if not there's people that are people's finances change all the time. So whatever high ticket thing you've got, why not run something like this to see if you can suss them out right now from cold leads. This is a real estate mastermind we have. This is 11,000 leads to cold traffic. So the CPL was a lot higher. It was $106.89. We spent over a million dollars on this campaign. But we generated 873 qualified applicants from Cold Traffic and had 92 sales. It generated $5 million. It was only a 4.28 ROAS. But every $5 million helps.

Okay, I've always said that.

And then the book funnel. So we talked about how you could create AI books the other day. You can also put those into funnels. So basically they will also drive high ticket sales straight from the book. This is a screenshot of someone who came in on a $7.95 free plus shipping offer who bought the two upsells that we offered and then literally two weeks later paid $35,000 to come into one of our high end programs. And we find this happening between typically seven and 14 days that people will buy a book and then go straight into. They have a little bit of time to consume it and then they're going to go straight into a high ticket purchase. So I think offering people the ability to do that can be super, super helpful.

Hey, Roland Frazier here.

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