Why a Second Business Is the WORST Way to Fix Your Off-Season

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In this video, I'm talking to a $3 million home service business owner that is considering nationally expanding his business but at the same time he gets all of his revenue in the last three months of the year.
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We've got to figure a way to be able to spread out all that demand throughout the rest of the year where he's otherwise losing money.
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We've got to change the marketing, the packaging, the pricing, the way he answers the phone and really restructure the business so we get to $5 or $10 million in annual revenue
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without having to change the business model and add more lines of business.
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This is a coaching call.
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It's one-on-one with myself.
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If you need this type of coaching, you can go book a call at mikeandies.com slash coaching.
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It's very expensive.
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However, I have a limited amount of time.
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So if you do need a call, go ahead and check it out.
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How's it going, Mike?
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Good, man.
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How you doing?
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Oh, can't complain.
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I've been running permanent outdoor lighting for the last six years.
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This is Haley.
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She runs the company.
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I am actually really, really good at selling.
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I hold records in this industry for selling.
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We've been burned.
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First person we worked for,
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We had a million dollar commission owed and they skipped out on it.
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So we obviously quit.
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And then the second company was a, we bought a franchise.
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It was a complete scam.
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So we obviously quit and we decided we keep coming back to this and keep making money here.
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So we'll just do it ourselves.
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We own our own manufacturing facility.
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We either assemble or build everything right here in Houston.
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Really just focus a lot on efficiencies.
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There's anything that ultimately gets built out there, gets built to the customer.
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That's one of the things that we've worked pretty hard on is going up around the quality and then being able to get it fast, being able to get the right customization and then be able to do it here locally.
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It's been pretty big to us.
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And is it all Christmas lights or is there other just like more external lighting, landscape lighting, permanent lighting?
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Yeah, so just permanent lights.
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Oh, all permanent.
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Okay.
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We don't do traditional Christmas lights.
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We've thought about like maybe this coming busy season, like adding on something like that.
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Cause our installers are already there.
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Like not like obviously to the home, but like, Oh, we'll wrap your tree.
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We'll put like, what is it?
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Garland or like.
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We're trying to figure out an increase LTV.
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We're about 3 million top line.
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This year, there's a big few things like I posted my video that you saw.
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Hey, by the way, we're really excited to see you fly out here.
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Oh, did you apply for a turnaround?
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I did and you all accepted and we met with your wife.
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Okay, go.
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Yeah, we were trying to figure out how to increase LTV.
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Like I posted the video, some personal stuff have really come up and pulled me out of the business for the last six months.
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I'm back in and ready to grind.
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But we took some heavy losses this last year.
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We grew, but it wasn't what we should have had.
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And so, yeah, what questions do you have?
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Let me let you guide this thing.
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If you were to not manufacture them yourself, what would the cost of goods be on that?
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Yeah.
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I have $3 million.
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What would you be spending in cost of goods?
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$594,000.
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Was there a total cost of goods sold?
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That was cost of goods sold.
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So that's getting the lights, the labor to assemble it all, the manufacturing.
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That's everything.
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Yeah.
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So if you did not manufacture them, I know it's more expensive per unit.
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Got it.
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But when you charge the customer, like for example, what's the average job size cost on average?
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About $4,700.
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Okay.
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And on that, if you were to go out and get someone else to manufacture the tracks, what would the cost of goods be on that approximately?
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Like $1,000?
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Call it $1,400, $1,500.
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Before shipping, that cost me $341.
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Got it.
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Okay.
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A little labor, but yeah, you have $500.
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Yeah, it's labor.
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Maybe next $500.
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Yeah.
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All right.
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And does that include things like the... Do you have a warehouse?
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Things like that?
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It's not including the rental of the warehouse.
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No, that doesn't, yeah.
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We also house our office out of there.
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We do trainings for sales.
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And so that all takes place there.
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So I've not allocated what portion of that would be for the manufacturing facility.
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Our rent is $2,700 a month.
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It's not overreleasing.
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My thing is...
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A $3 million business and you're really good at sales, I want as little of your time being spent on operations or on manufacturing as possible because your skill set is in sales of the final product.
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Yeah, I do nothing with manufacturing.
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Yeah, it really runs itself.
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Honestly, we're looking at kind of having it, like creating its own company away from our lives.
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For liability reasons.
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And then even making track for our competitors.
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We've thought about that.
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Way under capacity.
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Like we can produce so much more.
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Our guys, they're running it all.
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They run the whole deal.
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I've been out of the business for the last six months.
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We haven't been doing anything.
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Yeah.
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We have an operations manager and she, she manages kind of like the warehouse there.
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She's also like over the office and install as well.
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She doesn't have to do much with it.
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Like even our manufacturing lead, he's the one that orders the materials for like.
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He orders and makes it.
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Our stalls and our manufacturing, you know.
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He stages the jobs.
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So that's all done there.
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Yeah.
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How many technicians do you have out in the field versus manufacturing versus office admin?
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Two office, if you include the operations manager.
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We have two in the manufacturing facility.
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We need to let one of them go.
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Like they're...
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We've calculated out and they have probably about one day's worth of work, but we're doing 10 days worth of billing.
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Because we're seasonal and we don't have as much work.
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See, now it kills us.
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But yeah, and then we're four.
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We have a marketing manager.
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So we have five employees and then we have, and the rest are just contractors.
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So our sales reps are installers.
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They're 1099s.
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They're 1099s.
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And so we have...
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Four installers, and then we have five sales reps. Four installers, two in the manufacturing, two in the office, if you include the operations manager.
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Okay.
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Cool.
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Awesome.
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That's all the questions I had.
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So you keep going.
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Whatever I can help with.
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Great.
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Yeah, I have a list of questions, so really happy to be here, but I'm going to stick on three.
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And if we can get those, I think this is money well spent.
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Cool.
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Okay, first one, do you want me to read all of them or do you want to go one at a time?
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Let's go one at a time.
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Let's go one at a time.
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Great.
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My number one hairy problem is how to maximize busy season.
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So our constraint, our biggest constraint of the whole year is because when we come busy season, demand's infinite.
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Cost per lead, CAC is super low.
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We're incredibly profitable.
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That's where we make our entire profits the whole year is the last three to four months of the year.
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We've been in business for three busy seasons and every year I've had to turn people away.
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We just, we just can't.
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Yeah.
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And what is that?
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Is it people doing it for Christmas or is it people just end of the year with money?
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What, why is that season created?
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Yeah, the pain point is going to be permanent holiday lights.
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Like, hey, I want Halloween.
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I want Christmas.
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Let's get up there.
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The other two propositions that people are really buying for are going to be security.
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I would love these all year round.
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I'm already going to do accent lights, can lights.
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These double as that, especially with our newer bulbs that are four times brighter than anything else on the market.
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So that's just something that we gear towards.
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Hey, you also get security.
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And the last one is going to be your security slash architectural.
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And then like...
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one-off events, sporting events, things like that.
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So use it for security architectures, makes the house look nice.
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And then for holiday lights, that's, that's the main driver and busy, busy season.
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It's like the holidays are what's driving that.
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Yeah.
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And they're already looking for, you know, people to hang up their traditional lights so they see ours.
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And although we're like a heavier price point, like the break even, if you hire someone every single year to do traditional lights, it's like three to four years, depending on the home.
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Three and a half to four.
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Yeah.
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So it's like, if you have the money to do it, it's a no-brainer, right?
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Yeah.
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And so marketing for that last quarter, easy peasy, we don't even have to think about it.
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Everything else, we're way below capacity and struggling to stay up with the leads.
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We just hired Paul, the marketing director that was with Alex Ramosi.
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So we hired him, but we hired him during busy season because that's when he was available.
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He quit there and like, we'll take you.
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Definitely.
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He actually recommended you.
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Yes.
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He's been texting you or he said he was.
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But the...
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When we hired him on, even though he's an A-list marking talent, we told him, look, just sit back and do nothing for busy season.
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It's going to run itself.
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It's going to be fine.
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We need you now.
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So our biggest constraint is getting recruiting, training, enough installers and the SOPs and structures around that to capitalize on the busy season.
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Last year, lots of things hurt us, but we lost our training capacity, our trainers last year, and that just...
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It hit us hard.
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We didn't expect that.
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We didn't expect that.
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Yeah.
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I mean, I suspect we would have been 500, half a million plus in profits if we would have not.
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I mean, we learned our lesson.
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We were banking on one or two of these guys and then they kind of.
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One of them in June fell off the ladder.
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He's drinking on a job and then he's just, yeah.
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So it's like, we can't.
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Sure.
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You've never had that before.
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So.
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Yeah.
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Right.
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Yeah.
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Yeah.
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Like, like the question becomes like, do, do we actually try to increase the size of the dam and allow more people to come in during the last quarter?
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Or do we figure out how to increase the lead flow for the other nine months of the year?
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Because of how low CAC is, I'd say increase the capacity during busy season.
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What's CAC?
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Do you know the difference between the two?
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Like CAC versus Q4 versus not?
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During busy season, if you can nail it right, you're getting customers required for under $80, generally under $50.
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I mean, I've seen as low as $10.
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It can get pretty ridiculous in there.
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just give me current scroll down the bottom and see what what he's looking at but yeah during the busy season we're going up to $1,300 or off season we're going up to $1,300 for CAC 960 is what we're at right now
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Outside of off-season.
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Outside of the Q4, it's $900 per lead.
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That was last week.
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The week before that was $1,200.
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The week before that was $1,400.
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So I guess... Over $1,000.
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Yeah.
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We're at $1,300, $1,500 on the peak.
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Now we still have other opportunities that aren't being factored in the back, like home shows and referrals.
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That's just our marketing efforts online.
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And it's all paid through Meta and Google?
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Correct.
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Got it.
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And does he think he can half that?
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Just like do better optimization, et cetera.
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Paul's not working out, so I don't know.
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We're going to have to re-scrap all this.
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Are you tired of paying Google and Facebook a whole bunch of money and not really seeing any leads?
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If you want a custom website built for you in the next six weeks, go check out homeservicewebdesign.com.
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If you're spending that much, you can't make money if 25% of revenue is going out the door to CAC.
245
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Yes, during the fourth quarter, there's way more demand.
246
00:11:06.365 --> 00:11:12.028
But I also think we can create seasonal specific offers based on other times of the year and then highlight those.
247
00:11:12.228 --> 00:11:13.308
It might only be for two weeks.
248
00:11:13.328 --> 00:11:14.909
So we go hard after July 4th.
249
00:11:15.449 --> 00:11:17.650
It might only be a week or two or go after Easter.
250
00:11:17.710 --> 00:11:18.591
It might only be a few.
251
00:11:18.811 --> 00:11:22.753
But I do believe that there's ways to be able to bake in and get lower cat.
252
00:11:23.222 --> 00:11:32.348
Talking to Paul when we first hired him on, his original game plan coming towards this, because that's what we asked a lot of questions around, was how do we handle that beast?
253
00:11:32.588 --> 00:11:41.973
And he's like, look, right now you're offering full price during busy season, and you're offering discounts during off-season in order to get people in.
254
00:11:41.993 --> 00:11:44.015
And he's like, that's not a sustainable model.
255
00:11:44.355 --> 00:11:46.476
Really, you need to have some kind of lead magnet.
256
00:11:46.496 --> 00:11:50.178
And so the question how to increase LTV was...
257
00:11:51.299 --> 00:12:09.263
His suggestion was to start a pressure washing company, offer free pressure washing on every job, really add value as much as possible and differentiate ourselves from the market with a product that's really in demand for those time periods and see if we can't drop CAC that way.
258
00:12:10.183 --> 00:12:14.404
You would add costs, but he thinks it would pay for itself.
259
00:12:16.527 --> 00:12:24.597
Yeah, like when it comes to solving the off-season, which for you guys is like actually Q1, Q2, Q3, you can always add another brand.
260
00:12:24.617 --> 00:12:25.918
You will always add more revenue.
261
00:12:26.479 --> 00:12:34.449
And I think the reason why that advice has some credence is the fact that any home service is usually busiest in Q2 and Q3.
262
00:12:36.175 --> 00:12:37.496
And then Q4, it slows down.
263
00:12:37.556 --> 00:12:41.357
So you could almost throw a dart at what service you provided.
264
00:12:41.818 --> 00:12:45.579
But if it was busiest during the spring, it would at least offset your demand.
265
00:12:45.979 --> 00:12:53.983
I still believe, though, we can do more and better before we get to the stage of, like, we need to start a new brand, which is a huge amount of operational complexity.
266
00:12:54.363 --> 00:12:57.765
Can we just figure out how to get CAC under $400 or $500?
267
00:12:58.005 --> 00:13:02.927
And I'd be looking there first before I go at a whole other level of complexity around a new brand.
268
00:13:03.952 --> 00:13:10.695
Yeah, we've been working through this, and this is a serious issue everyone in this market faces.
269
00:13:11.495 --> 00:13:14.156
It's a multimillion-dollar question, if you can answer it.
270
00:13:14.276 --> 00:13:18.938
Even the people that you offer quotes to, because what percentage of your – this rough number is fine.
271
00:13:19.158 --> 00:13:22.460
What percentage of customers that get a quote from you will all accept?
272
00:13:22.580 --> 00:13:24.281
Right now we're at a 30% close rate.
273
00:13:24.641 --> 00:13:25.301
That's pretty good.
274
00:13:25.321 --> 00:13:26.682
That's pretty good for permanent lighting.
275
00:13:27.242 --> 00:13:29.703
So when you send an estimate, 3 out of 10 people accept.
276
00:13:30.493 --> 00:13:32.374
I think there's a lot of room to grow on that.
277
00:13:32.394 --> 00:13:34.094
So when I did it, my personally, I was at 70.
278
00:13:34.194 --> 00:13:38.016
Yeah, he saw- But assume 30 for a minute.
279
00:13:38.036 --> 00:13:43.217
Assume 30 for a minute, I'd be going after the other 70% during the off season.
280
00:13:43.778 --> 00:13:46.098
Because they demonstrated the need for the service.
281
00:13:46.438 --> 00:13:48.299
They decided not to, but they still want it.
282
00:13:49.279 --> 00:13:56.282
And now I would rather give them a $500 discount, 10, 15%, than go and spend it on Facebook and Google ads.
283
00:13:56.942 --> 00:14:00.424
But right now we are giving 15, 20% discounts.
284
00:14:00.985 --> 00:14:02.085
But that's to new customers.
285
00:14:02.345 --> 00:14:04.487
Are you going back to the people you send a quote to?
286
00:14:05.807 --> 00:14:09.530
Um, follow-ups are happening, but we're not offering an additional 20 on top of that.
287
00:14:09.911 --> 00:14:13.194
Well, cause you, like if they come in during like November and they're like, Hey, I want it.
288
00:14:13.214 --> 00:14:14.955
And you're like, Hey, it's going to be $5,000.
289
00:14:15.436 --> 00:14:16.977
I would love it to be when you're the slow times.
290
00:14:17.317 --> 00:14:20.500
Like, Hey, it's 4,500 now or never kind of thing.
291
00:14:20.660 --> 00:14:22.021
We offer 30%.
292
00:14:22.262 --> 00:14:27.126
If you, if you book in our busy season and get installed during Q1, we offer 30% off.
293
00:14:28.695 --> 00:14:30.196
Cause markings like next to nothing.
294
00:14:30.396 --> 00:14:39.043
And we feel the, we didn't do as good a job this time, but we generally book at least January and February solid full of installs doing that.
295
00:14:39.583 --> 00:14:43.206
Can we, can we advertise more during, during a Q4 then?
296
00:14:44.307 --> 00:14:45.228
And just fill the rest of the year?
297
00:14:47.128 --> 00:14:48.188
I don't know if we could feel the right.
298
00:14:48.408 --> 00:14:50.289
I've never tried to push that aggressively.
299
00:14:50.629 --> 00:15:04.931
I'm just thinking about the fact that if you were literally getting leads for $20, $30, $40, $50, and that jumps to $1,000, and you're able to offer a discount to book outside of this time of the year, my goodness, I would be dumping money on those.
300
00:15:05.151 --> 00:15:09.152
Even if your close rate went down to 10%, you triple your cost per lead.
301
00:15:09.172 --> 00:15:15.733
Let's say it goes from $50 to $150 now because your close rate is only 10%, but you're literally trying to book into next year.
302
00:15:16.603 --> 00:15:19.525
Because with permanent lighting, yes, they might miss.
303
00:15:19.725 --> 00:15:21.246
Here's how literally you can make sense of it, Landon.
304
00:15:21.266 --> 00:15:23.408
You can say, hey, look, you're going to save $1,000.
305
00:15:23.748 --> 00:15:26.550
Go get someone else for 500 to put lights up for this year.
306
00:15:26.890 --> 00:15:27.170
Cool.
307
00:15:27.570 --> 00:15:31.213
We'll come install this next June, and you're going to still save 500 bucks.
308
00:15:32.063 --> 00:15:32.323
Yeah.
309
00:15:33.544 --> 00:15:36.705
We have run into an issue where, okay, if you're not getting it done now, there's no value.
310
00:15:36.725 --> 00:15:41.847
But I think there's credence to push harder, like more and better before new.
311
00:15:42.407 --> 00:15:46.088
Well, if I'm thinking about permanent lighting, right, and someone's like, hey, it's going to cost five grand.
312
00:15:46.369 --> 00:15:49.270
If you're willing to wait until next June, it's going to be 4,000.
313
00:15:49.290 --> 00:15:52.571
You'll have the exact same thing just for next year, and you're going to wait a little longer.
314
00:15:53.051 --> 00:15:53.832
I might take them up on it.
315
00:15:55.092 --> 00:15:55.893
We could also sweeten the deal.
316
00:15:55.913 --> 00:15:57.474
We have a standard bulb and a premium bulb.
317
00:15:58.194 --> 00:16:02.678
Roughly 87% of all our jobs go with premium bulbs, which means we probably should increase the pricing of it.
318
00:16:03.138 --> 00:16:07.161
Okay, we'll give you this system and we'll upgrade you for free.
319
00:16:07.261 --> 00:16:11.785
The cost between the two products to us is pretty negligible.
320
00:16:12.165 --> 00:16:14.587
It's very similar cost to us.
321
00:16:16.208 --> 00:16:22.974
I would increase the price of the premium bulb dramatically, and then it makes that deal sweeter without costing you a single penny.
322
00:16:24.622 --> 00:16:28.105
If you say, hey, you're going to – I'm just making up a number.
323
00:16:28.245 --> 00:16:32.889
A dollar for low premium or low quality and for premium we're charging $2.
324
00:16:32.929 --> 00:16:37.092
Now all of a sudden the difference that you can give in discount is huge.
325
00:16:37.902 --> 00:16:41.923
Yeah, so our premium bulb, we currently are charging 15% extra.
326
00:16:42.303 --> 00:16:44.144
Yeah, I would go way more.
327
00:16:44.184 --> 00:16:45.044
87% of people are doing it.
328
00:16:45.064 --> 00:16:47.585
It's probably like a very marginal cost difference for you.
329
00:16:48.125 --> 00:16:49.285
I would probably do 30%.
330
00:16:49.565 --> 00:16:53.666
And then you just know that now it just sweetens the deal of that premium upgrade.
331
00:16:53.906 --> 00:16:54.787
If you wait, it's okay.
332
00:16:54.807 --> 00:17:03.769
If you wait, you not only get a discount, you also get the premium bulbs, which now you could very well be showing them a 25%, 30% discount, you knowing that a lot of that's just the markup.
333
00:17:04.049 --> 00:17:05.249
Yeah, we'll also upgrade them to that.
334
00:17:05.349 --> 00:17:06.050
Yeah, that makes sense.
335
00:17:06.270 --> 00:17:09.431
Because I just want to figure out how you can get as many leads as possible for $50.
336
00:17:10.671 --> 00:17:13.672
Yeah, I mean, the leads are under $50.
337
00:17:13.712 --> 00:17:15.913
I'm talking about the CAC is like up to $80.
338
00:17:15.953 --> 00:17:17.473
Wow, are you serious?
339
00:17:18.154 --> 00:17:18.734
We print money.
340
00:17:19.194 --> 00:17:21.775
We lose money all year just to print money there.
341
00:17:21.875 --> 00:17:22.335
Oh, yeah.
342
00:17:22.515 --> 00:17:22.935
Okay, yeah.
343
00:17:22.955 --> 00:17:28.857
Then this is a matter of just packaging and the offer, which is make the premium very expensive, substantially, not 15%.
344
00:17:28.917 --> 00:17:29.918
I'm talking a minimum of 30%.
345
00:17:31.338 --> 00:17:54.308
Knowing that that increases the value of the upgrade some people will just take you up on it because they're so price insensitive During q4 straight margin to your bottom line And then the upgrade for free if you book outside of that time along with a discount Sweetens that pot where hopefully we can book into March April May Yeah, I was I was suspecting you knew quite a bit about this industry just because the margins are where they are if you if you stack it, right?
346
00:17:55.088 --> 00:18:02.214
with what you do, I was like, man, I was honestly a little nervous about this call just because like, man, I can't compete with Mike.
347
00:18:02.594 --> 00:18:06.537
He's gonna- The offer is, I think, right?
348
00:18:06.637 --> 00:18:07.678
Like, yeah, you're close.
349
00:18:08.418 --> 00:18:10.880
Whenever you have so much demand, you can't put up with it.
350
00:18:10.920 --> 00:18:15.424
The question always is how do we get outside, get push it outside of that fourth quarter.
351
00:18:16.024 --> 00:18:18.166
And I think to sweeten the deal, there's a discount.
352
00:18:18.206 --> 00:18:21.769
We also have this fact that 87% of people are taking your current upsell.
353
00:18:22.349 --> 00:18:23.630
And there's no cost difference to you.
354
00:18:23.830 --> 00:18:24.931
I would juice that thing.
355
00:18:25.811 --> 00:18:29.194
Yeah, increase 30%, make more money from people who are time sensitive.
356
00:18:29.374 --> 00:18:33.797
The people who aren't, it'll make it more sense to go out into next year and book further out.
357
00:18:33.977 --> 00:18:34.997
You don't have to hire any more people.
358
00:18:35.017 --> 00:18:37.139
You don't have to lay off any new manufacturing.
359
00:18:37.159 --> 00:18:38.580
You don't have to do a new brand.
360
00:18:38.740 --> 00:18:40.321
Pressure washing is a whole different business.
361
00:18:40.621 --> 00:18:43.803
You keep your guys busy year-round so your retention goes up.
362
00:18:44.263 --> 00:18:48.887
My thought process was how do we quadruple our labor force
363
00:18:49.970 --> 00:18:54.913
quality, you know, whatever it takes, 10 times our labor force seasonally for a little bit.
364
00:18:54.933 --> 00:18:57.534
And I'm thinking, how do we lower the barrier of entry?
365
00:18:57.594 --> 00:19:00.196
What's the lowest cost skill to recruit for?
366
00:19:00.836 --> 00:19:07.640
That's the direction I was going with this and then offer a new brand pressure washing and see if that cuts the cack.
367
00:19:07.700 --> 00:19:11.422
And so we have like maybe like a seven on the row ads all year round during the off season.
368
00:19:11.442 --> 00:19:13.463
And then that would allow us to just take off.
369
00:19:14.023 --> 00:19:22.337
Yeah, but if you can spend all of your budget in fourth quarter and get leads for nothing, essentially, and then just make an offer so good for them.
370
00:19:22.898 --> 00:19:25.823
I want your average ticket to be more like $6,000 if they go at the premium.
371
00:19:25.843 --> 00:19:25.983
Yeah.
372
00:19:26.873 --> 00:19:31.157
But then now it's dropping them down to four grand if they're willing to move out in the next year.
373
00:19:31.998 --> 00:19:34.320
The $2,000 of savings doesn't mess with people's brain.
374
00:19:34.460 --> 00:19:39.204
It's like, do you want it now for an extra 50% or do you want to have it in a few months?
375
00:19:39.264 --> 00:19:40.405
And this is a permanent thing.
376
00:19:40.425 --> 00:19:42.207
This isn't like, oh, I miss this Christmas.
377
00:19:42.607 --> 00:19:42.868
Sick.
378
00:19:43.088 --> 00:19:45.210
Like, they will have this forever on their house.
379
00:19:45.450 --> 00:19:51.515
Because all the things that you talked about, like, for example, anytime you're trying to match labor with a seasonal increase –
380
00:19:52.476 --> 00:19:53.937
Max operational chaos.
381
00:19:54.297 --> 00:19:55.377
We have it with Command Center.
382
00:19:55.598 --> 00:19:58.339
We have to hire 50 people for answering the phone.
383
00:19:58.499 --> 00:19:59.059
It's insane.
384
00:19:59.579 --> 00:20:03.681
But we can't control the fact that I can't push their calls out outside of my demand curve.
385
00:20:04.422 --> 00:20:08.704
For you, you're trying to create an offer that you can actually move it outside of that time.
386
00:20:08.764 --> 00:20:11.505
Instead of trying to staff for the peak, bring the peak down.
387
00:20:11.925 --> 00:20:12.866
What's Command Center again?
388
00:20:13.066 --> 00:20:15.067
Where we answer all the phone calls for all owners of Augusta.
389
00:20:16.367 --> 00:20:17.328
Thoughts on increasing LTV?
390
00:20:18.203 --> 00:20:19.347
That was one of the questions I have.
391
00:20:20.130 --> 00:20:20.993
We're at 3 million.
392
00:20:21.214 --> 00:20:23.583
Hermosi's roadmap says second product line.
393
00:20:25.247 --> 00:20:27.889
I think you already have a second product line because you're doing the manufacturing.
394
00:20:28.650 --> 00:20:29.631
I see that as a separate thing.
395
00:20:30.211 --> 00:20:36.537
That's why I was asking about the metrics early on is because I see it as a separate thing, even though right now it runs by itself.
396
00:20:36.917 --> 00:20:48.467
As you begin to grow and scale, that will become like, I need to create better manufacturing, like logistics, shipping, that because the whole different part of the business that if you were just an installer like we do, we don't even think about that side of the
397
00:20:49.067 --> 00:20:51.327
So in my opinion, you actually already have two businesses.
398
00:20:51.628 --> 00:20:54.448
It's just that this one has tons of supply.
399
00:20:55.308 --> 00:20:57.949
You could scale it up significantly more and not be a problem.
400
00:20:58.229 --> 00:21:03.150
And so that's why you're feeling the pain on this side, which is like sales, installation, the recruitment side.
401
00:21:03.470 --> 00:21:11.231
When I think we could scale this dramatically, like keep making them in-house, et cetera, just make sure that our demand curve gets spread out more throughout the year.
402
00:21:11.592 --> 00:21:13.832
You could very well not have to hire and still double the business.
403
00:21:14.092 --> 00:21:17.814
Real quick, in case you missed it, Copilot CRM is a thing of the past.
404
00:21:18.114 --> 00:21:23.056
We've now officially moved to HomeWorks, and you can go check out the new website, and it's super cool.
405
00:21:23.376 --> 00:21:32.020
Go to home.works and see how we guarantee home service businesses to grow their revenue or profit by a minimum of 10%, or we give them their money back.
406
00:21:32.540 --> 00:21:34.801
What's the second product line you're talking about?
407
00:21:34.921 --> 00:21:36.802
Is manufacturing, how's that a second product line?
408
00:21:37.302 --> 00:21:38.243
I think it's a separate business.
409
00:21:39.185 --> 00:21:42.146
Like manufacturing is totally different than the other side.
410
00:21:42.607 --> 00:21:47.529
Yeah, it's way different, but it's just a vertical stack allows us to cut cost.
411
00:21:47.709 --> 00:21:49.650
In the long run, once you scale it, right?
412
00:21:50.090 --> 00:21:53.532
Right now, it's a distraction for the thing you're really good at, which is selling.
413
00:21:53.932 --> 00:21:56.033
Now, it can scale, though, and save you a huge amount of money.
414
00:21:56.053 --> 00:21:58.714
Like it's going to save you like 70%, 80% of cost of goods sold.
415
00:21:58.974 --> 00:22:00.015
So that's why I didn't like...
416
00:22:00.515 --> 00:22:01.396
Go cut it.
417
00:22:01.616 --> 00:22:05.019
If you're doing 800,000, I'd be like, hey, forget the manufacturing.
418
00:22:05.059 --> 00:22:06.801
Move on, right?
419
00:22:06.821 --> 00:22:08.463
Do you scale to make sense of it?
420
00:22:08.603 --> 00:22:11.666
I just think that it is already – you already have a second business.
421
00:22:12.066 --> 00:22:14.909
And so would that second business go sell to other people or – You could.
422
00:22:15.409 --> 00:22:15.790
You could.
423
00:22:16.290 --> 00:22:16.590
You could.
424
00:22:16.931 --> 00:22:20.854
It sounds like you're not supply constrained there.
425
00:22:20.874 --> 00:22:22.656
You could do more tracks.
426
00:22:23.176 --> 00:22:25.598
Manufacturing, I love it.
427
00:22:25.818 --> 00:22:28.160
I'm very genuine.
428
00:22:28.180 --> 00:22:30.062
I really don't do any time in it.
429
00:22:30.102 --> 00:22:34.806
But yeah, it wouldn't take me much time to quadruple our capacity there.
430
00:22:34.906 --> 00:22:37.348
And our capacity is already way dwarfed what we make right now.
431
00:22:37.769 --> 00:22:39.630
I would do that before starting a pressure washing business.
432
00:22:39.771 --> 00:22:41.052
It's a whole different ballgame.
433
00:22:42.083 --> 00:22:43.284
I just don't want to sell to our competitors.
434
00:22:43.444 --> 00:22:44.746
Like I might.
435
00:22:44.806 --> 00:22:52.053
What sets us apart is that we do it in house, like the track system and everything like that really does set us apart.
436
00:22:52.774 --> 00:22:53.475
And so if we start.
437
00:22:53.715 --> 00:22:55.237
Why not get all the leads yourself?
438
00:22:55.417 --> 00:22:58.360
And then for the ones that you can't get to, you also get money for.
439
00:22:58.700 --> 00:22:58.880
Right.
440
00:22:58.900 --> 00:23:02.001
Because like right now, if we're wasting leads, they're going to someone else anyways.
441
00:23:02.281 --> 00:23:03.402
Why not get paid for that, too?
442
00:23:03.502 --> 00:23:03.722
Right.
443
00:23:04.022 --> 00:23:05.982
I would just rather you do that than go do pressure washing.
444
00:23:06.002 --> 00:23:07.883
Pressure washing is a whole different business.
445
00:23:08.323 --> 00:23:10.444
And yes, it will it'll solve the seasonal issue.
446
00:23:10.524 --> 00:23:16.626
I think we can solve the seasonal issue with an offer by raising prices of the premium bulb, showing a bigger discount and then pushing demand.
447
00:23:16.786 --> 00:23:23.268
When we get if you can get leads for 10, 15 bucks during the fourth quarter and they're otherwise going to be hundreds.
448
00:23:24.228 --> 00:23:29.191
I would gas that and just do everything possible to make sure people are booking later the next year.
449
00:23:29.931 --> 00:23:30.132
Yeah.
450
00:23:30.372 --> 00:23:36.795
We're also running an issue right now with, uh, with our CAC is that our office set rate is like 15, 20%.
451
00:23:36.935 --> 00:23:38.817
Like we are firing and read.
452
00:23:38.937 --> 00:23:39.137
We're,
453
00:23:40.136 --> 00:23:42.439
there's a fire in the kitchen with that to us.
454
00:23:42.459 --> 00:23:42.739
Okay.
455
00:23:42.759 --> 00:23:45.102
So when I asked for, okay, so, all right, that makes sense.
456
00:23:45.462 --> 00:23:50.388
So when I said close rate, you're saying three out of 10 estimates we send are getting accepted.
457
00:23:51.008 --> 00:23:56.394
But when leads come in only about one out of 10, one of eight are getting actually booked an appointment.
458
00:23:56.414 --> 00:23:56.675
Yeah.
459
00:23:56.695 --> 00:23:56.795
Yeah.
460
00:23:57.155 --> 00:23:57.656
Why is that?
461
00:23:57.856 --> 00:24:01.819
We believe that, I mean, we had some issues with our calling software.
462
00:24:02.059 --> 00:24:03.881
So our numbers are a little off.
463
00:24:03.921 --> 00:24:05.982
We had moved to a different calling software.
464
00:24:06.022 --> 00:24:07.484
We had some issues anyway.
465
00:24:08.164 --> 00:24:10.566
I moved us to another one and we're doing better.
466
00:24:11.007 --> 00:24:14.590
But we also believe it's just the office staff member that we have.
467
00:24:14.850 --> 00:24:18.133
With this new software, we can listen in on her calls and different things like that.
468
00:24:18.873 --> 00:24:23.197
And so we just believe that we should probably do more training there or definitely do more training there.
469
00:24:23.497 --> 00:24:27.859
Like to put things in our perspective, like, so I did the office, he did the sales the first year.
470
00:24:28.140 --> 00:24:31.802
You were, yeah, you were hovering in the 60s, 60% set rate.
471
00:24:31.882 --> 00:24:34.983
And then our operations manager, she can maintain a 50 to 60.
472
00:24:35.063 --> 00:24:37.165
So it's, it's the lowest that we've been.
473
00:24:38.625 --> 00:24:43.368
And I do, I do believe it's because of the call software issue that we had, but.
474
00:24:43.908 --> 00:24:50.292
So we're not 100% sure, but our gut and all the data we have so far saying it's a skill people issue.
475
00:24:51.105 --> 00:25:15.303
wrong person and need more skill and so we are developing uh training programs currently to try to help solve that yeah like certainly if you can increase you know one lever of going from 15 to 45 would triple the lead you're getting and so certainly high leverage there and what are you doing on that side are you just doing better call recordings are you training them differently like what's the steps to like
476
00:25:16.043 --> 00:25:20.105
All calls are recorded and game tape is reviewed at 7.30.
477
00:25:20.365 --> 00:25:21.746
We start calls at 8 a.m.
478
00:25:21.786 --> 00:25:26.288
So 7.30 to 8.30, 8 a.m. We're doing call review, role play.
479
00:25:26.988 --> 00:25:30.209
And then we have at least two breaks throughout the day where we're like, hey, let's pause.
480
00:25:30.229 --> 00:25:33.091
Let's go back and listen and do it again.
481
00:25:33.271 --> 00:25:35.592
We're trying to tighten the loop on the...
482
00:25:36.252 --> 00:25:42.995
listen, make improvements, role play it as much as we can, because we don't have tons of leads right now and we have the time we can afford to do that.
483
00:25:43.575 --> 00:25:45.516
So that is our, our game plan to move forward.
484
00:25:45.556 --> 00:25:51.659
And then it might look like cutting this, this, this one person just because there's personal issues there.
485
00:25:51.899 --> 00:25:57.785
Also, I did calls after five, you know, and Kristen, our operations manager, she did that too.
486
00:25:58.827 --> 00:26:02.491
And so new lead comes in, we're calling it, you know, that's what we used to do.
487
00:26:03.271 --> 00:26:06.535
Now that we have this other office person, they don't work after five.
488
00:26:07.016 --> 00:26:07.937
And so we're trying to work.
489
00:26:08.457 --> 00:26:11.460
on this like on-call thing, trying to work that out.
490
00:26:11.540 --> 00:26:20.347
But I'm trying to build a AI software where they'll, like a new lead comes in, they'll call and book the appointment and put it on the calendar.
491
00:26:20.468 --> 00:26:24.491
So I'm trying to do that so that we don't necessarily have to have people work after five.
492
00:26:24.671 --> 00:26:25.092
But you know,
493
00:26:26.320 --> 00:26:32.922
that conversion, it's much better when you can call it immediately once the lead comes in.
494
00:26:33.623 --> 00:26:35.783
Why do you think it's a software issue?
495
00:26:36.383 --> 00:26:38.104
Is it something wrong with the call tracking?
496
00:26:38.404 --> 00:26:40.745
Yeah, calls were getting dropped.
497
00:26:40.805 --> 00:26:41.825
They weren't coming through.
498
00:26:41.845 --> 00:26:50.508
If you were at AT&T or Verizon or something like that, there's two carriers that our calls would not go through at all.
499
00:26:50.548 --> 00:26:51.689
We were blocked by those.
500
00:26:51.709 --> 00:26:51.909
Yeah.
501
00:26:52.669 --> 00:27:01.657
We reported our numbers from, we were using Google voice and then we reported Google voice to call tracking metrics and then call tracking metrics just wasn't.
502
00:27:02.318 --> 00:27:02.818
Yeah.
503
00:27:02.878 --> 00:27:04.039
Honestly, we stayed there too long.
504
00:27:04.059 --> 00:27:06.061
It was a month of issues constantly.
505
00:27:06.081 --> 00:27:06.602
Yeah.
506
00:27:06.642 --> 00:27:07.583
I kept saying it, fix it.
507
00:27:07.603 --> 00:27:09.124
We were like, okay, no more fixing.
508
00:27:09.164 --> 00:27:09.484
We're gone.
509
00:27:09.685 --> 00:27:13.328
So I just went over to air call and we're, we're doing much better there.
510
00:27:13.348 --> 00:27:15.670
It's like, we love it, but yeah.
511
00:27:15.690 --> 00:27:15.810
Yeah.
512
00:27:15.830 --> 00:27:17.752
We're just trying to figure out how to do this whole business thing.
513
00:27:18.293 --> 00:27:21.355
If it's 15%, I think that's a huge lever too.
514
00:27:21.896 --> 00:27:23.517
I see it as really just two levers.
515
00:27:23.697 --> 00:27:27.039
One is can I increase the booking rate by 3x?
516
00:27:27.079 --> 00:27:28.160
That's an easy lever.
517
00:27:28.620 --> 00:27:37.526
And second is can I keep spending money during the fourth quarter when the leads are nothing and improve the offer so they book later on?
518
00:27:37.766 --> 00:27:38.467
Okay.
519
00:27:38.567 --> 00:27:42.350
Our last big hairy question is we want to go nationwide.
520
00:27:42.970 --> 00:27:44.731
We would like to have over 200 locations.
521
00:27:45.091 --> 00:27:47.213
We was really hoping we could find someone who's done that before.
522
00:27:47.996 --> 00:27:50.639
Yeah, that's what he was like, let's do the pressure washing.
523
00:27:50.679 --> 00:27:54.523
And then I was getting things together to start that company up.
524
00:27:54.563 --> 00:27:58.587
And then I'm like, wait, we didn't open up an area last year.
525
00:27:58.888 --> 00:28:00.289
We opened one up the year before.
526
00:28:00.309 --> 00:28:02.532
I'm like, I think maybe we should focus on that.
527
00:28:02.992 --> 00:28:04.834
The other area is somewhat of a shell too.
528
00:28:04.994 --> 00:28:06.476
It's still struggling, yeah.
529
00:28:06.736 --> 00:28:06.916
It's...
530
00:28:07.766 --> 00:28:14.472
And so we're like, why open another area when we can't copy and paste into, we're in Houston, you know, into Dallas.
531
00:28:14.512 --> 00:28:17.415
So our goal is to scale open new locations.
532
00:28:18.616 --> 00:28:22.099
What foundations need to be built in order to allow us to have that?
533
00:28:22.820 --> 00:28:24.882
Well, the question becomes like, what's your moat?
534
00:28:24.982 --> 00:28:28.165
And I think the moat that you've identified is actually the manufacturing side.
535
00:28:29.258 --> 00:28:31.480
We're local manufacturers.
536
00:28:31.500 --> 00:28:36.464
So Texas owned, family ran, local manufacturing.
537
00:28:36.504 --> 00:28:37.625
Those are our modes.
538
00:28:38.945 --> 00:28:39.145
Right.
539
00:28:39.165 --> 00:28:45.949
But what I'm saying is like to scale this internationally, it'd be very difficult to go one location at a time.
540
00:28:45.969 --> 00:28:48.751
If you're going to like, hey, let's start a second location, start a third location.
541
00:28:49.131 --> 00:28:54.074
Why don't you just train people how to install your product and make it where they go do the installing.
542
00:28:54.474 --> 00:28:56.955
They take the leads and they install your product.
543
00:28:57.355 --> 00:28:59.897
And it's more of a business opportunity slash licensing.
544
00:29:00.317 --> 00:29:00.477
Yeah.
545
00:29:00.497 --> 00:29:06.002
So thought there is our manufacturing, it doesn't cost a lot to start up a new location.
546
00:29:06.042 --> 00:29:10.025
It takes people that, you know, home service, no doubt.
547
00:29:10.065 --> 00:29:10.846
We're a people business.
548
00:29:11.126 --> 00:29:13.828
So I didn't want to do franchising because I don't need someone else's money.
549
00:29:13.868 --> 00:29:16.050
Like that's not, that's not my constraint at all.
550
00:29:16.070 --> 00:29:19.393
Like I can, I have the systems that train, train people how to sell.
551
00:29:19.833 --> 00:29:24.076
We're trying to get the systems to really just hone in, train people how to install, make sure it's like world class.
552
00:29:24.857 --> 00:29:30.099
And then from there, we just take these, which is our IP essentially, and then just go there and say, we'll give everything.
553
00:29:30.359 --> 00:29:31.780
Our marketing guys will take care of it all.
554
00:29:32.580 --> 00:29:35.061
Almost like a gym launch.
555
00:29:35.081 --> 00:29:35.681
Kind of like that.
556
00:29:35.742 --> 00:29:37.542
I mean, we're like, hey, we'll build everything.
557
00:29:37.702 --> 00:29:38.863
We'll come in and we'll do all that.
558
00:29:38.883 --> 00:29:41.864
We already have all the tools in the background and we'll get this thing running.
559
00:29:42.644 --> 00:29:45.085
I feel like we can strap a big engine if it's all one brand.
560
00:29:45.466 --> 00:29:48.307
There was a company who did that, who went and I worked for them in the past.
561
00:29:48.947 --> 00:29:51.048
They distributed to everyone else.
562
00:29:52.128 --> 00:29:55.150
But they're really getting pushed out of the market right now because they don't have branding.
563
00:29:55.891 --> 00:30:01.114
The company that has the worst product has better branding because it's all under one name.
564
00:30:01.734 --> 00:30:03.936
And they're the largest in the space now.
565
00:30:04.556 --> 00:30:06.498
That branding element was just so powerful.
566
00:30:07.558 --> 00:30:08.639
They're not even the best.
567
00:30:08.659 --> 00:30:10.140
They have worse reviews than most everyone else.
568
00:30:10.160 --> 00:30:10.661
Jellyfish?
569
00:30:10.821 --> 00:30:11.281
Yeah, Jellyfish.
570
00:30:11.861 --> 00:30:13.022
They do the dealer program.
571
00:30:13.522 --> 00:30:17.165
They do the dealer program, but they franchise and everything's under their name.
572
00:30:17.225 --> 00:30:18.086
Yeah, true.
573
00:30:18.286 --> 00:30:19.927
Whereas Jim's only the dealer.
574
00:30:19.947 --> 00:30:20.067
Yeah.
575
00:30:20.549 --> 00:30:20.769
Right.
576
00:30:20.829 --> 00:30:22.731
They also have DIY, but.
577
00:30:23.132 --> 00:30:24.794
I don't know if that's really much of a market, but yeah.
578
00:30:24.834 --> 00:30:25.074
Yeah.
579
00:30:25.394 --> 00:30:28.858
I think the most important thing is to nail your current model, right?
580
00:30:28.878 --> 00:30:34.565
Because until you have your current one, whether it be like, most people do not have the capacity to run a $3 million business.
581
00:30:34.585 --> 00:30:36.447
They don't have the capacity to run a $5 million business.
582
00:30:36.487 --> 00:30:39.650
Only 8% of people that start a business get over a million.
583
00:30:40.491 --> 00:30:47.354
That being said, when you start thinking of multiple locations, it's either A, you find incredible general managers that can run $3 million locations for you.
584
00:30:47.794 --> 00:30:57.419
Or two, you create a product that is profitable, that you train people how to install it, and you give really great advice and training on that so that that becomes the brand.
585
00:30:57.439 --> 00:31:02.941
The moat is, hey, Aurora Lights gives us this level of service that no one else can.
586
00:31:03.321 --> 00:31:06.623
And then to your point, like at Jim Lunch, they stopped flying out to people.
587
00:31:07.083 --> 00:31:09.525
Like what's much more scalable is here's how we did it.
588
00:31:09.825 --> 00:31:10.606
Here's the roadmap.
589
00:31:10.786 --> 00:31:11.566
Here's the ads.
590
00:31:11.766 --> 00:31:12.267
Go do it.
591
00:31:12.667 --> 00:31:18.211
And so I think the thing that you're developing now, like even when it comes to like the booking rate, solving that problem is the IP.
592
00:31:18.811 --> 00:31:25.156
Like what are the scripts used when it comes to the offer that gets most people, everyone in this industry has a problem with Q4.
593
00:31:25.496 --> 00:31:25.736
Great.
594
00:31:26.016 --> 00:31:26.517
Let's move.
595
00:31:26.597 --> 00:31:30.139
How do we get an offer that actually gets them into Q1, two, and three?
596
00:31:30.719 --> 00:31:33.001
These are the things if solved allow you to scale it.
597
00:31:33.001 --> 00:31:38.446
Then why would we trade equity off and let someone else – why not do a corporate structure?
598
00:31:39.267 --> 00:31:41.029
Oh, I'm not saying which structure to move.
599
00:31:41.189 --> 00:31:49.557
Like honestly, I think you nailing this one location, taking it to $5 million and $1 million in EBITDA, that gives you opportunities for all sorts of stuff.
600
00:31:50.077 --> 00:31:53.978
You can go to the manufacturing route, you can go to the licensing route, you can go franchising, you can go corporate expansion.
601
00:31:54.279 --> 00:32:02.702
But like this one location, if it's not being run right and like booking rates are low, we have a huge seasonal issue, like we have huge excess capacity.
602
00:32:02.982 --> 00:32:06.343
If we have these problems now at the first location, when we do a second, it'll just get worse.
603
00:32:07.638 --> 00:32:09.239
Okay, so you're saying don't scale.
604
00:32:10.080 --> 00:32:10.500
Not yet.
605
00:32:11.181 --> 00:32:12.122
Oh, no, figure this out.
606
00:32:12.422 --> 00:32:17.045
Because all the current problems that you're talking about, if you solve them, allows all sorts of opportunities.
607
00:32:17.746 --> 00:32:22.029
Focus for now just on fixing them, and then the world will be your oyster.
608
00:32:22.049 --> 00:32:24.591
You'll get people calling you, hey, can I buy the lights?
609
00:32:24.712 --> 00:32:27.594
Okay, well, should we figure out how to do retail and sell it to them?
610
00:32:27.614 --> 00:32:27.794
Okay.
611
00:32:28.034 --> 00:32:29.394
Should we do the do it yourself?
612
00:32:29.414 --> 00:32:30.755
Do people really want to buy this online?
613
00:32:31.015 --> 00:32:33.436
Okay, do I want to do licensing where I get people into a group?
614
00:32:33.456 --> 00:32:38.377
They pay me $1,000 a month, straight 100% profit, and they buy my product.
615
00:32:38.457 --> 00:32:45.499
And by doing that, there's a lot of routes you can go, but the thing that you do first is you build one of them that just cranks out cash.
616
00:32:45.839 --> 00:32:48.740
And that will come from a result of solving all the problems in your industry.
617
00:32:50.157 --> 00:32:51.498
But yeah, I hear what you're saying.
618
00:32:51.518 --> 00:32:59.666
Yeah, I was thinking just because we knew we hit big problems and I didn't work for a huge chunk of that last year and we still got three million.
619
00:33:00.757 --> 00:33:01.758
There's all this meat on the bone.
620
00:33:01.778 --> 00:33:02.839
I feel like we were at the point.
621
00:33:03.360 --> 00:33:05.622
That's just why I think scaling made sense.
622
00:33:05.943 --> 00:33:09.867
But I hear what you're saying that, yeah, we're here at 15% sat rate right now.
623
00:33:09.947 --> 00:33:10.488
Like, come on.
624
00:33:10.508 --> 00:33:15.753
Yeah, if you – like, you could go start a second location, and let's say it does just as good as this one, right?
625
00:33:15.954 --> 00:33:16.855
You would double revenue.
626
00:33:17.195 --> 00:33:17.495
Awesome.
627
00:33:18.016 --> 00:33:21.880
You would also triple revenue if you just went from 15% booking rate to 45%.
628
00:33:23.637 --> 00:33:28.162
And so what's the easier battle to figure out is the second one.
629
00:33:28.302 --> 00:33:29.783
What's going to increase the enterprise value the most?
630
00:33:30.024 --> 00:33:31.025
Make it the most scalable?
631
00:33:31.105 --> 00:33:31.886
Figure out the second one.
632
00:33:32.126 --> 00:33:33.848
The easiest one is the first one.
633
00:33:34.749 --> 00:33:34.849
Okay.
634
00:33:34.869 --> 00:33:40.455
Because you just go get another shop space, another location, another website, and like new LLC, and let's go.
635
00:33:40.475 --> 00:33:40.575
Okay.
636
00:33:41.648 --> 00:33:44.950
Let me run everything past you today and just kind of do a little recap here.
637
00:33:44.990 --> 00:33:49.112
So what I'm hearing is nothing fancy.
638
00:33:49.132 --> 00:33:52.314
Don't do a new service.
639
00:33:52.955 --> 00:33:55.136
Just increase the cost of our premium bulb.
640
00:33:55.516 --> 00:34:00.019
Try to use that to help lift the offer during the busy season to book throughout the year.
641
00:34:00.419 --> 00:34:01.340
Push that like crazy.
642
00:34:01.360 --> 00:34:03.201
Have that be the focal point.
643
00:34:04.123 --> 00:34:10.190
And then work on some internal things, such as training, obviously always improve the training for the installers, but particularly the office stuff.
644
00:34:10.210 --> 00:34:11.492
That's the easiest lever right there.
645
00:34:13.414 --> 00:34:14.836
That's what I'm hearing from today's call.
646
00:34:15.016 --> 00:34:20.963
Yeah, something that I've been wanting to move forward because we don't have reoccurring revenue.
647
00:34:21.737 --> 00:34:25.600
Like the fact that we can make what we make with just a one cell.
648
00:34:25.820 --> 00:34:33.806
And I mean, we try to push add ons, but whatever, like, I mean, we could do that better, but we've thought about reoccurring revenue.
649
00:34:34.006 --> 00:34:38.930
And so when we started all this, we were thinking, let's do a subscription base.
650
00:34:39.390 --> 00:34:43.673
And because even when we hit busy, busy season, we have all these installers.
651
00:34:44.033 --> 00:34:47.536
And then we also have customers who have issues with their lights and we do service calls.
652
00:34:48.036 --> 00:34:48.556
And so yeah,
653
00:34:49.337 --> 00:34:56.243
We were thinking about like we could do this monthly subscription that we could sell and it could be like, what do we think about?
654
00:34:56.323 --> 00:34:59.265
You have to pull up your notes, find out what we wrote on.
655
00:34:59.325 --> 00:35:02.688
But yeah, we do like – Priority service during busy season.
656
00:35:02.708 --> 00:35:03.829
24-hour service call.
657
00:35:03.849 --> 00:35:04.650
We'll come do that.
658
00:35:04.670 --> 00:35:06.692
We'll do a check before busy season.
659
00:35:07.532 --> 00:35:11.876
You'll get all the add-ons to our app, which we're looking to try to develop an app.
660
00:35:11.896 --> 00:35:12.837
I was going to ask you about that.
661
00:35:13.517 --> 00:35:14.838
One emergency visit a year.
662
00:35:15.839 --> 00:35:16.560
You need your lights.
663
00:35:16.940 --> 00:35:19.282
You need you need to fix your lights, whatever will come out.
664
00:35:20.062 --> 00:35:20.903
Custom scenes.
665
00:35:21.103 --> 00:35:24.286
We can download them, put them on like a group Facebook page, whatever.
666
00:35:24.306 --> 00:35:28.569
One of the things that our app has, it has a few pictures of what your house looks like.
667
00:35:29.369 --> 00:35:32.671
Um, we can, we can, with our own map, we can improve that dramatically.
668
00:35:32.711 --> 00:35:37.755
And so you'd get an actual picture of your house instead of a picture of a prebuilt house.
669
00:35:38.535 --> 00:35:41.157
Um, and it would make customizing everything a lot easier.
670
00:35:41.177 --> 00:35:43.638
We'd also do remote changing and creating patterns for you.
671
00:35:44.059 --> 00:35:45.980
So we could build all that into the monthly.
672
00:35:46.320 --> 00:35:47.701
Um, that's what we were, we were trying to do.
673
00:35:48.081 --> 00:35:50.023
Again, I'm a huge fan of recurring revenue.
674
00:35:50.043 --> 00:35:50.523
You know that.
675
00:35:50.923 --> 00:35:54.966
I think there's still bigger levers, like we've talked about, that I'd focus on first.
676
00:35:55.206 --> 00:36:00.270
But yeah, certainly, I would also use this as a way to sweeten the pot of getting them out of the Q4.
677
00:36:00.490 --> 00:36:06.915
I think your 7-to-1 ROAS can very easily become 20-to-1 if you can figure out how to do that.
678
00:36:06.955 --> 00:36:09.036
I think that's just the highest leverage thing in the business.
679
00:36:09.237 --> 00:36:12.299
During the busy season, we're hitting up to 18 on the ROAS.
680
00:36:12.719 --> 00:36:13.600
That's where our money is.
681
00:36:14.140 --> 00:36:19.924
That's where I just want to focus all our time and energy on that because all of this, like, the recurring, yes, awesome.
682
00:36:20.565 --> 00:36:25.729
When you get your database large enough, when you have thousands of people in there, you could launch that and immediately have recurring revenue.
683
00:36:25.749 --> 00:36:26.770
So, like, I'm a big fan.
684
00:36:27.350 --> 00:36:29.331
I think that the app is a distraction.
685
00:36:30.232 --> 00:36:31.653
It's just it's another thing.
686
00:36:31.933 --> 00:36:35.394
You have this thing that's working and I just want you to keep doing more of it.
687
00:36:35.854 --> 00:36:43.017
And I want you to just simply make it less seasonal because by doing that, you will dramatically increase the profitability of the business.
688
00:36:43.658 --> 00:36:47.059
And even like, again, the 70 percent of people who said no to an estimate.
689
00:36:47.339 --> 00:36:52.041
Let's assume you also a whole bunch of other contacts that didn't even get the estimate because the booking rate is so low.
690
00:36:52.801 --> 00:36:57.003
I would be going after them like crazy for the first three quarters of the year.
691
00:36:58.712 --> 00:36:59.232
Crazy.
692
00:36:59.312 --> 00:37:01.253
Like they, we know they want lights.
693
00:37:01.793 --> 00:37:02.554
I'd be texting them.
694
00:37:02.634 --> 00:37:03.454
I'd be emailing them.
695
00:37:03.814 --> 00:37:16.400
I'd be making sure I have monthly emails based on every single like holiday or, you know, event that's local, even like in Texas, like if there's a college game, like whatever, like I'd be hitting that like crazy.
696
00:37:16.720 --> 00:37:21.842
Cause that whole database is all ripe to sell outside of the Christmas season.
697
00:37:21.962 --> 00:37:24.223
Yeah, that drip came in, that sounds really interesting.
698
00:37:24.243 --> 00:37:25.363
I'd like to hear more about that.
699
00:37:25.864 --> 00:37:32.026
Another distraction I have that I'll let you try to squish, or maybe I'm trying to lower the barrier to entry for installers.
700
00:37:32.326 --> 00:37:34.467
And so we have a set of lights that we have.
701
00:37:34.947 --> 00:37:40.770
We figured out if we swap them out to a new set, we can lower the time it takes to install.
702
00:37:40.810 --> 00:37:43.371
And so each installer, we can maximize their time by doing that.
703
00:37:43.711 --> 00:37:45.952
It might cost the company a little bit more, but we think it's a wash.
704
00:37:46.452 --> 00:38:09.928
um and so we were like okay let's do the switch out now we still have to hold image for all the past clients because none of the old system would work with the new one um but if we did that switch out then we could get installation done faster training installers would be easier which is a huge bottleneck um come right before busy season like training these guys up it takes time so yeah it would take a while set up but
705
00:38:10.268 --> 00:38:10.528
Yeah.
706
00:38:10.889 --> 00:38:11.009
Yeah.
707
00:38:11.029 --> 00:38:15.073
Like I, I, again, these are all like great ideas, five, 10% wins.
708
00:38:15.694 --> 00:38:24.924
I genuinely believe even this problem gets solved when you move your, when you even out your demand curve, because right now you're thinking, how do we hire and train all these guys?
709
00:38:25.364 --> 00:38:27.427
Well, that's no longer a problem if I can keep them busy around.
710
00:38:29.350 --> 00:38:40.257
And so I would, again, like I genuinely believe keeping the same number of crew, you could triple the business by just greasing the offer and changing your pricing packaging to get it where you can fill the first nine months.
711
00:38:40.677 --> 00:38:45.860
Having emails text to all of your database, you're just in customers, you're upselling into the recurring package.
712
00:38:46.160 --> 00:38:52.304
People who said no or you only got their contact, I'm trying to get them on a discounted version of what they asked for three months ago.
713
00:38:52.604 --> 00:38:56.508
What's your thoughts on this industry, the opportunity we have here?
714
00:38:56.528 --> 00:39:03.694
And then if you were to come in and just kick us out and just run this company, you're the CEO now, what would your next 12 months look like?
715
00:39:04.195 --> 00:39:05.376
So thoughts on the industry?
716
00:39:05.836 --> 00:39:08.339
We like the industry a lot because of the margins, right?
717
00:39:08.359 --> 00:39:12.402
And it's like we do it because Q4 is one of our weaker quarters.
718
00:39:12.422 --> 00:39:13.824
You're already in permanent lighting then.
719
00:39:14.797 --> 00:39:20.901
Well, we do a little bit of permanent lighting, mostly just where they lease it from us, and we take it down for Christmas lights.
720
00:39:21.561 --> 00:39:23.502
And so we mostly focus on that.
721
00:39:23.522 --> 00:39:26.264
But I know that even on permanent lighting, they love it.
722
00:39:26.284 --> 00:39:27.685
The guys who do it, they have great margins.
723
00:39:28.065 --> 00:39:28.505
I love it.
724
00:39:29.266 --> 00:39:35.329
It's also the Achilles heel as to why you're thinking about starting a whole new thing, and that is I've got to fill the other eight, nine months of the year.
725
00:39:36.010 --> 00:39:41.173
And so I just genuinely believe if you figured out – your secret sauce is getting leads for as cheap as you have.
726
00:39:41.693 --> 00:39:45.014
Whether it be your website, your brand, or the quality, I don't really care.
727
00:39:45.454 --> 00:39:47.535
I just know that's your secret sauce.
728
00:39:47.975 --> 00:39:56.419
And I want to take that and spread it throughout the year because it'll solve almost all the complaints that I've heard otherwise, like around capacity issues, training new people.
729
00:39:56.579 --> 00:39:58.619
You don't have to train new people if you can keep them year-round, right?
730
00:39:58.679 --> 00:40:02.741
A lot of these problems will just disappear if you can solve having seasonality.
731
00:40:02.861 --> 00:40:12.128
If you struggle with having an off season in your business and your revenue dropping a lot for three or four months out of the year, like a lot of home service businesses, I create a special workshop.
732
00:40:12.208 --> 00:40:13.209
It's completely free.
733
00:40:13.509 --> 00:40:18.512
You can scan the QR code here or just go to Mike and these dot com slash workshop.
734
00:40:18.993 --> 00:40:25.998
And it's three to four hours of content where you'll be able to figure out the five solutions to make sure that the winter or your off season doesn't take your business.
735
00:40:27.587 --> 00:40:30.809
Everything we talked about, I'd be 100% thinking about increasing premium.
736
00:40:31.489 --> 00:40:36.151
Obviously, the problem is we've got five, six months until we can execute on some of this stuff, right?
737
00:40:36.751 --> 00:40:38.352
We are going into an off-season.
738
00:40:38.832 --> 00:40:44.034
I think during this time, I'm looking at the things that are the intangibles that have nothing to do with the customer.
739
00:40:44.074 --> 00:40:46.315
For example, the booking rate, what are the scripts?
740
00:40:47.495 --> 00:40:49.516
you know, my goodness, the software better be dialed in.
741
00:40:50.116 --> 00:40:59.158
Using something like RingSense, which is from RingCentral, but like I'm sure your current provider has something like this where you don't do listening to calls like game day stuff.
742
00:40:59.278 --> 00:41:04.040
You are, the AI is looking at their transcript and giving them coaching based upon the prompts that you've given it.
743
00:41:04.600 --> 00:41:05.420
So it's live.
744
00:41:05.500 --> 00:41:06.341
So they get off a call.
745
00:41:06.401 --> 00:41:10.722
They exactly know what they should have changed, where they should have said something different, what the improvements are made.
746
00:41:11.102 --> 00:41:14.304
So I don't know what that version of that is for your current call system.
747
00:41:14.644 --> 00:41:19.525
But I'd be dialing that in because that 15% could be coming 45% as we go into the busy season.
748
00:41:19.826 --> 00:41:20.806
Extremely high leverage.
749
00:41:21.006 --> 00:41:22.807
I'd be focused on everything I possibly can.
750
00:41:23.307 --> 00:41:26.908
You're gonna have to train new people going into this upcoming busy season.
751
00:41:27.328 --> 00:41:35.171
But my objective is really to fix the pricing and the packaging and the offer so that when this season comes, we don't stop spending money on ads.
752
00:41:35.191 --> 00:41:39.513
We just keep pumping it and we keep putting more and more people into the next nine months.
753
00:41:39.713 --> 00:41:45.795
And it just make it like the premium pricing on the bulb is just making that delta for them bigger and bigger.
754
00:41:45.835 --> 00:41:47.276
That was called Ring Central, you said?
755
00:41:47.916 --> 00:41:50.777
RingCentral is what we use for our phone system at Command Center.
756
00:41:51.498 --> 00:41:53.759
And then RingSense is an add-on.
757
00:41:53.999 --> 00:41:55.400
It's only like $60 a user.
758
00:41:55.540 --> 00:41:56.740
So for you, it's just $60.
759
00:41:57.261 --> 00:42:01.443
And it's just going to look at every single word they say and then give them coaching on how to get better.
760
00:42:01.783 --> 00:42:06.085
You give the prompt for the AI to coach them.
761
00:42:06.125 --> 00:42:09.727
So you can say, hey, we want you to ask these questions in this order.
762
00:42:10.207 --> 00:42:14.509
You tell it all of that, and then it will give coaching to the person once they do the call live.
763
00:42:14.729 --> 00:42:15.689
Wow, I love that.
764
00:42:15.990 --> 00:42:16.550
That's awesome.
765
00:42:17.518 --> 00:42:19.919
So like those sorts of systems, that's what I'd be focused on now.
766
00:42:20.259 --> 00:42:24.420
And then as I go into the busy season, I've had the packaging, the pricing, the offer ready to go.
767
00:42:24.640 --> 00:42:28.542
I'd have my texts and my emails for January, February, all the way through the slow season.
768
00:42:28.882 --> 00:42:32.523
I would already have it set up in my software for texting and email.
769
00:42:32.803 --> 00:42:38.385
I'd have it then tagged based upon an existing customer, like I've installed for them, and then people that I just have in my database.
770
00:42:38.405 --> 00:42:41.406
Because I'm going to treat them very differently when I text and email them.
771
00:42:42.026 --> 00:42:43.988
So those are some of the things that you can still do now.
772
00:42:44.108 --> 00:42:51.613
And then once you hit the busy season, the objective is to be able to keep the throttle full force and then just be booking people out like crazy in the next year.
773
00:42:51.794 --> 00:42:52.614
Pretty straightforward.
774
00:42:52.834 --> 00:42:53.075
Yeah.
775
00:42:53.615 --> 00:42:53.995
Good stuff.
776
00:42:54.115 --> 00:42:55.837
Well, hopefully I'll see you in a few weeks.
777
00:42:55.877 --> 00:42:56.978
I'll put a good word for you.
778
00:42:57.038 --> 00:42:57.358
Say, hey.
779
00:42:57.378 --> 00:42:58.319
I'd love to see y'all.
780
00:42:58.859 --> 00:42:59.620
Yeah, absolutely.
781
00:43:00.140 --> 00:43:02.522
We actually just closed on a new house today.
782
00:43:02.822 --> 00:43:04.243
Hey-oh, let's go.
783
00:43:04.984 --> 00:43:07.846
Yeah, I'll get you a steak or something.
784
00:43:07.886 --> 00:43:09.067
Haley is an amazing guy.
785
00:43:10.429 --> 00:43:10.910
Oh, yeah.
786
00:43:11.391 --> 00:43:11.732
Good stuff.
787
00:43:11.753 --> 00:43:12.876
Well, hey, we'll stay in touch.
788
00:43:13.137 --> 00:43:14.320
I wish you all the best.
789
00:43:14.982 --> 00:43:17.871
And if we don't see you, best of luck.
790
00:43:17.911 --> 00:43:21.200
But hopefully we get to see you here in a few weeks and enjoy some of the Texas weather there.
791
00:43:21.481 --> 00:43:22.444
Summer.
792
00:43:22.504 --> 00:43:23.066
84 degrees.
793
00:43:23.547 --> 00:43:24.049
Let's go.
794
00:43:24.069 --> 00:43:25.292
Good stuff.
795
00:43:25.333 --> 00:43:26.376
We all have a great weekend.
796
00:43:26.576 --> 00:43:27.118
Appreciate y'all.
797
00:43:27.318 --> 00:43:27.639
Take care.