Fullstendig transkripsjon av How to Stop Chasing Your Money

were going on in LCC this week that we have addressed that I think might help these clothiers do better moving forward. 00:02:10.639 --> 00:02:18.879 Unfortunately, when shit hits the van, there you can't like go back in time and and redo it, but we can learn from our mistakes and do it differently next time. 00:02:19.680 --> 00:02:35.599 So we we used to operate with a very um very basic approach to getting paid, which was we're we're gonna take half up front, half at delivery, and it is what it is. 00:02:35.840 --> 00:02:37.360 And that wasn't something we made up. 00:02:37.520 --> 00:02:46.400 No, that was something that we we learned from our mentor who always did it that way, and that's I presumably the way he always did it. 00:02:46.719 --> 00:02:54.719 Although, you know, he did his background, was he he's done every you know, everything under the sun as it relates to clothing. 00:02:54.879 --> 00:02:59.199 And I know at one point he worked at a men's store, and there's no way they were doing half and half there. 00:02:59.599 --> 00:03:00.639 Probably they were. 00:03:00.879 --> 00:03:02.080 I mean, maybe it was a long time. 00:03:02.159 --> 00:03:04.240 I mean, that was like the 80s and the early 90s. 00:03:04.479 --> 00:03:14.400 But that is what if you if you were to pull all of the custom clothiers, my guess would be the majority of you are doing it that way. 00:03:14.719 --> 00:03:17.840 And there are benefits to doing it that way. 00:03:18.000 --> 00:03:20.240 I mean, we did it for a decade. 00:03:20.560 --> 00:03:21.919 There are benefits. 00:03:22.159 --> 00:03:36.639 The only the the benefits are there is an outstanding dollar amount that feels motivating when the items are in for you to schedule that next meeting, that next step. 00:03:36.879 --> 00:03:47.360 That outstanding amount is all the motivation you need to get people back in, get them in quickly, and get them on their way satisfied so that you can get that second half. 00:03:47.520 --> 00:03:49.919 That's one of the benefits of doing it that way. 00:03:50.159 --> 00:03:55.520 The other benefit of doing it that way is there's there's leverage that you have. 00:03:55.840 --> 00:03:58.560 Let's say something doesn't go according to plan. 00:03:58.719 --> 00:04:02.240 Well, you can always collect less on the back end. 00:04:02.719 --> 00:04:11.759 It's kind of like a conflict resolution built in when you're taking half payment up front and half at delivery. 00:04:12.240 --> 00:04:14.400 But it's not all positives. 00:04:14.800 --> 00:04:16.480 There are plenty of negatives. 00:04:16.639 --> 00:04:23.279 In fact, there are enough negatives that got us to the point where we were looking at each other saying, we have to change this. 00:04:23.600 --> 00:04:28.639 And we were and we we were that was not something that we were shocked by. 00:04:28.879 --> 00:04:33.439 No, we knew and we wanted to for years change the way that we took payments. 00:04:33.600 --> 00:04:35.600 We never liked doing it half and half. 00:04:35.759 --> 00:04:42.480 We always wished we could get paid up front, but of course we were making excuses for ourselves about why our that would never work for our clients. 00:04:42.720 --> 00:04:50.399 Yeah, we were making excuses for our clients and in turn making excuses for our business, which happens all the time in this industry. 00:04:50.800 --> 00:04:52.319 You're making excuses for your clients. 00:04:52.399 --> 00:04:56.639 Well, my clients will never do this, my clients will never pay this, my clients will never behave this way. 00:04:56.800 --> 00:05:00.560 Whatever you're telling yourself is an excuse for them. 00:05:00.639 --> 00:05:07.439 And in turn, it is becoming a place in which your business just continues to live on repeat. 00:05:07.680 --> 00:05:12.879 If your clients, if you're telling yourself your clients won't spend this, well, guess what you're never going to do as a business owner? 00:05:13.120 --> 00:05:14.000 Sell that. 00:05:14.399 --> 00:05:20.079 If your clients you're telling yourself are only going to behave this way and won't behave better, guess what you're doing? 00:05:20.240 --> 00:05:21.920 Guess what the business that you're running? 00:05:22.079 --> 00:05:24.720 You're running a business for badly behaved people. 00:05:25.120 --> 00:05:26.399 It's circular. 00:05:26.560 --> 00:05:28.560 And we used to do the same thing. 00:05:28.800 --> 00:05:36.720 We used to tell ourselves we had we had custom clothiers out there that were way more established than we were, challenging our 50-50 type of thing. 00:05:36.879 --> 00:05:37.360 Yeah. 00:05:37.600 --> 00:05:40.319 Saying, what, why are you, why are you doing it that way? 00:05:40.480 --> 00:05:44.560 What I I charge up front in full, and that's that's the expectation I set. 00:05:44.879 --> 00:05:46.160 I don't remember what the reasons were. 00:05:46.319 --> 00:05:48.319 I'm sure it was our clients wouldn't like that. 00:05:48.480 --> 00:05:49.600 But I know we I know. 00:05:50.720 --> 00:05:51.600 Is that necessary? 00:05:51.759 --> 00:05:53.360 Right in the middle of the podcast. 00:05:53.600 --> 00:05:55.199 Time to time to crack a cold one. 00:05:56.079 --> 00:05:59.040 I don't remember what our reasons were, but we had them. 00:05:59.519 --> 00:06:02.560 I don't remember what our excuses were, but we made them. 00:06:02.959 --> 00:06:05.839 And looking back, it was just stupid. 00:06:06.000 --> 00:06:11.600 And believe it or not, this actually isn't a podcast about not charging 50-50 versus charging, you know, up front. 00:06:11.839 --> 00:06:22.879 This is actually a podcast about some other aspects about getting paid that we're going to get into in a few minutes, but we can't have this conversation that we're going to have without having this first conversation. 00:06:23.120 --> 00:06:26.000 Whether you're doing the 50 up front, 50 on the back end. 00:06:26.160 --> 00:06:33.839 Some of you even do like 30 up

front, 70 on the back, you know, or or 66 up front and 33 on the back, you know, whatever. 00:06:34.079 --> 00:06:39.040 The downside of doing that is you do put yourself in a position where you are chasing your money sometimes. 00:06:39.199 --> 00:06:42.720 Have you ever had this where someone doesn't remember that they owe you money? 00:06:42.959 --> 00:06:45.199 And then you're saying, okay, well, that's gonna be this. 00:06:45.279 --> 00:06:47.920 And in their mind, they already bought it, they already paid for it. 00:06:48.079 --> 00:06:50.160 They're like, Well, why are you making me pay again? 00:06:50.319 --> 00:06:56.560 And they actually, they actually don't understand that you're not making them pay again, you're making them pay the rest. 00:06:57.040 --> 00:06:58.639 That happened to us a few times. 00:06:58.879 --> 00:07:07.279 Or a really, really simple, let's call, I mean, I'm I'm just gonna use this example because it's happened, it happened to us when we used to do it this way. 00:07:07.519 --> 00:07:23.040 Let's say somebody comes in for their final fitting, you're gonna, you're gonna shorten the pants an inch, and they are going to go pick these up because they're the ones with a tight deadline, but they're refusing to pay their second half until it's quote unquote right. 00:07:23.360 --> 00:07:26.560 And on your side of the table, you're looking at this, you're like, it is right. 00:07:26.720 --> 00:07:28.399 I'm making a personal preference tweak. 00:07:28.480 --> 00:07:33.759 You want your pants a little bit shorter, which I it doesn't matter what I think about that alteration. 00:07:33.920 --> 00:07:40.959 This is a personal preference change, and you're withholding payment until you are putting your stamp of approval on it. 00:07:41.120 --> 00:07:43.439 That's not a fair position for me to be in. 00:07:43.600 --> 00:07:45.199 It's low brow behavior too. 00:07:45.279 --> 00:07:50.160 It's low lowest common denominator behavior, but that's what you end up getting. 00:07:50.319 --> 00:08:10.480 And I remember back in the day when we used to do the 50-50 thing, I used to be nervous for a day full of final fittings because I, you know, you'd be looking and you'd say, okay, I'm gonna collect this amount of money, but there is actually no guarantee you are, depending on how they how they act, and depending on if they put weight on or not, or depending on if they want to wear their pants at a different height. 00:08:10.800 --> 00:08:12.079 It's all up to them. 00:08:12.240 --> 00:08:13.680 You're completely out of control. 00:08:13.920 --> 00:08:19.839 You end up chasing your money around and wondering if or when you're ever gonna get paid. 00:08:20.639 --> 00:08:23.839 That is not the way to run a business. 00:08:24.639 --> 00:08:37.679 We were having dinner with a mill and some other clothiers in Chicago, and one of the clothiers at the table said something we had recently shifted at this point to taking full payments, and we were just talking shop at the end. 00:08:37.759 --> 00:08:41.679 Yeah, this was actually, was this no, this wasn't before the pandemic, was it? 00:08:41.840 --> 00:08:43.360 It was just afterwards, yeah. 00:08:43.759 --> 00:08:46.559 Because it was a it was surrounding a uh the Chicago collective. 00:08:46.960 --> 00:08:50.720 So the collective happened, which means it was right in that sweet spot. 00:08:51.039 --> 00:08:51.519 You make sense. 00:08:52.080 --> 00:08:56.960 Um, and he said, you know, I'm not a debt collector, I don't chase my money. 00:08:57.200 --> 00:09:05.200 And we had just made the shift, but that resonated because it was such a fresh move for us, where it's like we're looking at each other saying, Yeah, me too. 00:09:05.440 --> 00:09:06.559 There's really good confirmation. 00:09:06.639 --> 00:09:08.960 I wish we would have had dinner with him years previous. 00:09:09.039 --> 00:09:10.399 He could have heard him say that. 00:09:10.639 --> 00:09:13.440 But but doesn't that just make sense? 00:09:13.759 --> 00:09:20.000 Where we get hired to do a job and we get to decide how we get paid to do that job. 00:09:20.320 --> 00:09:22.399 It's it's not, it's up to us. 00:09:22.639 --> 00:09:25.519 It's it's not more complicated than that. 00:09:25.759 --> 00:09:37.200 It's it's one of those things where it doesn't matter what this clothier over there does, or this clothier over there does, or the business that you used to work in before you left and started your own thing, what they used to do. 00:09:37.360 --> 00:09:38.879 None of that matters. 00:09:39.440 --> 00:09:53.039 And that was the impetus behind when we finally made the jump and we started charging in full, where we were taking an honest look at ourselves and we said, nothing matters unless we can figure out a way to stay in business. 00:09:53.279 --> 00:09:58.879 We're not doing our clients any favors by splitting by splitting payments half in half. 00:09:59.039 --> 00:10:10.639 If we're looking down the barrel of a whole bunch of things that we can't deliver for the pandemic reasons, and we're in the middle of trying to figure out if we're still gonna be able to be in business or not. 00:10:10.879 --> 00:10:22.080 And that was the unfortunate reality of where we were, where we were, is we had had a busy very first part of the year, January, February. 00:10:22.320 --> 00:10:23.360 We're busy. 00:10:24.000 --> 00:10:30.159 And then March rolls around and stuff's arrived and stuff is pending delivery. 00:10:30.399 --> 00:10:31.200 We pay for everything. 00:10:31.360 --> 00:10:33.519 We paid for everything, obviously, at that point. 00:10:33.679 --> 00:10:37.039 We had only gotten paid our our half payment. 00:10:37.360 --> 00:10:40.720 And then we get the shelter in place orders. 00:10:40.879 --> 00:10:45.360 Nobody's allowed to leave leave their house unless you are, what was the word they would use? 00:10:45.519 --> 00:10:49.279 Um for like necessary business as a

essential workers. 00:10:49.679 --> 00:10:50.480 Essential workers. 00:10:50.639 --> 00:10:54.399 Unless you're essential, you're staying home and you're not going to work. 00:10:54.639 --> 00:11:00.720 So we're sitting here, we're looking at all of these suits hanging up that we are owed half of the money on. 00:11:00.960 --> 00:11:02.639 It's feeling pretty essential to get paid on this. 00:11:02.799 --> 00:11:09.600 It's feeling pretty essential, but you know, wrapping our mind around the fact that I don't think custom clothing counts as an essential service. 00:11:09.919 --> 00:11:13.519 Yeah, I'm not thinking that that's we're not, I don't think we're the heroes in this situation. 00:11:13.840 --> 00:11:20.240 But we're looking at this and we're we're just saying to ourselves, like, what are we supposed to do? 00:11:20.720 --> 00:11:22.320 We are so poor. 00:11:22.639 --> 00:11:29.840 In fact, we have larger outstanding debts than we do any money in the bank. 00:11:30.080 --> 00:11:31.440 We don't have any money in the bank. 00:11:31.679 --> 00:11:35.840 We realized at that moment that nobody had our best interest in mind, other than us. 00:11:36.080 --> 00:11:44.720 And we needed to do something that was going to keep us in business because if we don't even operate with our best interest in mind, what are we doing here? 00:11:45.120 --> 00:11:46.639 And we made that decision at that point. 00:11:46.799 --> 00:11:57.360 And it's not best for our clients to do things that in the short term feel good to them, but then put us out of business in the long term where they have to start over and find a new custom clothier to use. 00:11:57.519 --> 00:12:00.080 And this is an extreme example. 00:12:00.320 --> 00:12:03.759 And could we go back now and start to implement a 50-50? 00:12:03.840 --> 00:12:04.320 Absolutely. 00:12:04.480 --> 00:12:07.039 And we'll tell you about making those exceptions in a few minutes. 00:12:07.200 --> 00:12:12.480 But we're not going to because we aren't in the business of chasing our money around. 00:12:13.120 --> 00:12:16.399 We're not debt collectors, we're custom clothiers. 00:12:16.720 --> 00:12:26.080 And if you've been feeling uh called, if you've been feeling called to make this change and you've been waiting for the right time, there won't be a right time. 00:12:26.240 --> 00:12:26.879 Do it now. 00:12:27.039 --> 00:12:28.080 Don't be like us. 00:12:28.240 --> 00:12:30.559 Don't wait until you're almost out of business to do it. 00:12:30.720 --> 00:12:40.320 Don't wait for an extenuating extenuating circumstance or a pandemic or some some thing to hit you across the face where you have to react to it. 00:12:40.720 --> 00:12:42.000 Do it on your own terms. 00:12:43.039 --> 00:12:50.000 Take that step and make that change today because you're in control, because you want to, not because you have to. 00:12:50.720 --> 00:12:58.399 And once you've established new processes, you get to decide if and when you veer from

them. 00:12:59.039 --> 00:13:00.879 But it's your decision when you do that. 00:13:01.440 --> 00:13:03.200 So you understand at this point, right? 00:13:03.279 --> 00:13:06.240 That you know we take our payment in full up front. 00:13:06.399 --> 00:13:16.080 And by the way, the only reason that works is because of the email that we send before our appointments where we set that expectation before they come in. 00:13:16.639 --> 00:13:18.240 All expectations get set. 00:13:18.480 --> 00:13:22.159 They are understanding that this is not a free consultation. 00:13:22.320 --> 00:13:23.919 They are committed to this process. 00:13:24.159 --> 00:13:29.200 The expectation is that they are buying something and not just buying something, but that they're paying for something. 00:13:29.840 --> 00:13:32.320 You don't book a flight and pay when you land. 00:13:32.879 --> 00:13:35.679 You don't buy a custom suit and pay when it's done. 00:13:36.320 --> 00:13:37.440 That's our philosophy. 00:13:37.600 --> 00:13:40.080 You don't stay at a hotel and pay at checkout. 00:13:40.639 --> 00:13:40.960 No. 00:13:41.759 --> 00:13:45.440 Our philosophy is that you pay for what you buy when you buy it. 00:13:46.000 --> 00:13:47.519 Seems kind of simple, right? 00:13:48.399 --> 00:13:59.360 So we said this is not an episode about necessarily changing the way that you do things from charging half and half to charging upfront and full. 00:13:59.919 --> 00:14:10.000 There are businesses out there who are working with enough volume, there's enough coming and going where you've never felt that same, that same pinch that we felt multiple times. 00:14:10.080 --> 00:14:13.039 It's not like that pandemic was the first time we ever felt the squeeze. 00:14:13.120 --> 00:14:13.279 Yeah. 00:14:13.440 --> 00:14:18.799 I mean, we were constantly robbing Peter to pay Paul at that stage of our business because we hadn't figured out. 00:14:18.879 --> 00:14:23.600 I mean, there's a number of things that were wrong in the way that we were running our business back then. 00:14:23.919 --> 00:14:25.759 But this was one of the major ones. 00:14:25.840 --> 00:14:32.159 And this was one of the things that we're looking at the situation we were in in 2020, saying, what has to change today? 00:14:32.639 --> 00:14:37.440 And it's this it's how we're charging our clients because this is a terrible position to be in. 00:14:37.600 --> 00:14:50.720 There are some of you who listen to the podcast and you work with enough volume and it's enough of a revolving door where you're not going to probably you're not going to be in that same situation. 00:14:51.039 --> 00:14:58.320 You run your business that way, and your business runs in the way where you don't have to take full payments. 00:14:58.559 --> 00:15:10.080 And then in that scenario, I that's where I would look at you and say, Well, I understand that because there are some positives to come from taking 50-50, like the ones that I just mentioned. 00:15:10.240 --> 00:15:22.480 The fact that you're motivated to deliver the items, the fact that there's a bargaining chip in your back pocket where God forbid something doesn't go quite exactly right, you can make it right on that back end payment. 00:15:22.720 --> 00:15:34.240 But there are more of you who are doing 50-50 payments and you are feeling the squeeze and you are robbing Peter to pay Paul and you are doing it because you think it's what's best for your clients, but it's not. 00:15:34.399 --> 00:15:36.879 You staying in business is what's best for your clients. 00:15:37.039 --> 00:15:41.519 And to those of you, I would say you need to take a look at yourself in the mirror. 00:15:41.679 --> 00:15:46.159 You need to take a look at your business, you need to identify what is best for me. 00:15:46.559 --> 00:15:50.799 And the only reason you haven't done that already is because you're scared of what your clients might say. 00:15:51.120 --> 00:15:52.639 And let me tell you something. 00:15:52.799 --> 00:15:56.159 When we made this change, we were terrified as well. 00:15:56.399 --> 00:16:01.519 We were so we had all of oh, well, if anyone says this, then we're gonna say, well, it's because of the pandemic. 00:16:01.840 --> 00:16:05.600 You know, well, our back pockets were just absolutely full. 00:16:05.919 --> 00:16:09.519 Bursting at the seams of if they say that, I say this. 00:16:10.159 --> 00:16:10.480 Yeah. 00:16:10.720 --> 00:16:11.679 We were very prepared. 00:16:11.759 --> 00:16:18.000 And you know, the reality was that I don't know, maybe 10% of people even asked. 00:16:18.240 --> 00:16:19.039 Oh, yeah. 00:16:19.360 --> 00:16:19.679 Maybe. 00:16:19.840 --> 00:16:26.799 I'm trying to be really conservative because if you, I mean, whether or not you realize this, we don't ever exaggerate. 00:16:27.200 --> 00:16:31.440 We're very straightforward and we're not when we're giving like numbers or examples, they're all true. 00:16:31.519 --> 00:16:34.000 We're not making this stuff up to make it more entertaining for you. 00:16:34.159 --> 00:16:38.799 We're we're very, we're very, it's very important to us that we're tr honest and truthful. 00:16:39.039 --> 00:16:41.679 So there we were sitting with a rack full of suits. 00:16:41.759 --> 00:16:44.000 It was about a million dollars in outstanding invoices. 00:16:44.159 --> 00:16:45.600 Yeah, and it's you know, that's an average month. 00:16:48.399 --> 00:16:48.720 No. 00:16:49.039 --> 00:17:00.080 We we try our very best to to give true numbers, and we only will give true examples, and we will only give examples of things that have actually happened to us. 00:17:00.240 --> 00:17:04.480 And I don't, I actually don't think because 10% would be one out of 10 people had something to say. 00:17:04.559 --> 00:17:04.960 That's not true. 00:17:05.119 --> 00:17:05.519 That's not true. 00:17:05.599 --> 00:17:07.440 It was less, it was actually a lot less than that. 00:17:07.599 --> 00:17:10.000

There were a few times people were like, oh, oh, really? 00:17:10.240 --> 00:17:17.759 But the thing is, guys, we had already sent the email that explained that we take full payment at the appointment. 00:17:17.920 --> 00:17:22.400 So it was just as simple as saying, well, yeah, and we sent you that email that that oh, okay. 00:17:22.480 --> 00:17:23.519 Oh, I didn't realize that. 00:17:23.759 --> 00:17:33.440 And back then, when we first made that switch, one thing that we told ourselves was if anybody's spending a double-digit thousand dollar amount and wants to split the payment, that that's fine. 00:17:33.599 --> 00:17:33.680 Right. 00:17:33.759 --> 00:17:34.720 And that was our backpack. 00:17:34.960 --> 00:17:36.640 That was not something obviously that we advertised. 00:17:36.880 --> 00:17:38.400 It was just something that we knew. 00:17:38.720 --> 00:17:42.160 And so that was what we moving forward. 00:17:42.319 --> 00:17:43.200 We were open to it. 00:17:43.359 --> 00:17:46.079 But it was also something, now this is twofold. 00:17:46.240 --> 00:17:59.440 It was also something that for those very few clients who asked about that, it was something that we could say, yeah, we typically reserve that for double-digit thousand dollar amounts, because this sets the stage for two things. 00:17:59.680 --> 00:18:09.920 It sets the stage for the caliber of business that we weren't at the time necessarily running with a lot of consistency, but the caliber of business that we wanted to run. 00:18:10.160 --> 00:18:17.519 And then it also sets the stage that there is a plan for a 50-50 payment, but this order isn't hitting that. 00:18:17.839 --> 00:18:20.079 So it kills two birds with one stone. 00:18:20.319 --> 00:18:28.319 It helps the client understand that, yeah, there is a dollar amount in which we sp in which I can split the payment and it's no problem, but this order doesn't get us to that point. 00:18:28.400 --> 00:18:34.960 And it also communicates to this to the client that I'm running a business where I'm swiping double-digit thousand dollar amounts on the reg. 00:18:35.359 --> 00:18:37.039 And I have a strategy for that. 00:18:37.920 --> 00:18:51.359 So I think I think that's a pretty good uh situation where you are prepared for when somebody has a question, you are prepared to come at them with a realistic response. 00:18:52.319 --> 00:18:55.119 And that's just how we said we were gonna start to implement it. 00:18:55.279 --> 00:19:01.359 But when push came to shove, it was very infrequent that we ever had to explain ourselves. 00:19:01.599 --> 00:19:09.519 It makes sense to almost everybody you're working with, and even then we weren't working majority with people that were target demo. 00:19:09.839 --> 00:19:15.359 No, but it just still a lot of weddings, it's very, very mutually understood. 00:19:15.599 --> 00:19:19.440 So don't allow your fear to make this decision for you. 00:19:19.680 --> 00:19:20.240 Just do it. 00:19:20.400 --> 00:19:26.960 And yeah, you're gonna have to explain it sometimes, but really infrequently, and it's gonna be well worth the time and the energy. 00:19:27.200 --> 00:19:37.359 So let's talk about when it doesn't work so straightforward, because that's what we were really talking about in LCC, and it doesn't always work straightforward uh because that's life. 00:19:37.519 --> 00:19:38.559 Not everything is perfect. 00:19:38.720 --> 00:19:40.319 We don't have a perfect track record. 00:19:40.480 --> 00:19:43.519 We talked uh a couple episodes ago, I can't remember. 00:19:43.599 --> 00:19:47.759 We've we've done a few things where we're talking about consultations the last few weeks. 00:19:48.079 --> 00:19:56.559 And as part of those episodes, we mentioned it's not that we never have mistakenly done a consultation. 00:19:56.640 --> 00:19:59.599 It's not that nobody's ever slipped through the cracks, because that's not true. 00:19:59.839 --> 00:20:03.279 Yeah, it's not like we've swiped everybody's card who we've ever seen. 00:20:03.440 --> 00:20:05.200 No, it doesn't work that way. 00:20:05.440 --> 00:20:15.839 It's very, very, very few and far between that it doesn't work the way that we have set it up to work, but that doesn't mean our track record is 100%. 00:20:16.480 --> 00:20:19.279 So we want to talk through some of the things you're going through. 00:20:19.359 --> 00:20:26.000 And I know you're going through them because we've been through them, and we're we have clothiers right now in LCC who are actively going through some of this stuff. 00:20:26.160 --> 00:20:32.799 So we want to talk about what we could do, what we could change moving forward as far as payment goes. 00:20:33.680 --> 00:20:34.000 Okay. 00:20:34.640 --> 00:20:36.720 So what were what were we planning to do? 00:20:37.519 --> 00:20:44.799 Well, I think we can just say like we were talking with a a few of our LCC members who had all experienced something. 00:20:45.519 --> 00:20:46.400 Okay, I got it. 00:20:47.440 --> 00:20:52.240 Before we talk about what's going on in LCC, here's something we've learned. 00:20:53.359 --> 00:21:02.799 The very few and far between times where we're working with someone sitting in front of one another, and we're, you know, we're realizing, oh shit, they think they're having a consultation. 00:21:03.119 --> 00:21:04.319 They are not ready to pay. 00:21:04.559 --> 00:21:08.640 I'm not getting paid right now, I'm working for free at this very moment. 00:21:08.880 --> 00:21:10.319 I gotta wrap this up. 00:21:11.039 --> 00:21:18.079 In those times where that's happening, we have realized they will say anything. 00:21:18.799 --> 00:21:23.200 They will say anything to get out of here without having paid. 00:21:23.440 --> 00:21:30.400 They will promise to pay, they will give you uh this real story, they will give you a card they know will decline and then act surprised. 00:21:30.559 --> 00:21:31.839 No, go ahead and send me an invoice. 00:21:32.000 -->

00:21:32.720 Yeah, what's going on? 00:21:33.200 --> 00:21:35.039 Actually, it happened to us a couple months ago. 00:21:35.200 --> 00:21:38.640 Uh, they will insist they're good for it. 00:21:38.799 --> 00:21:44.480 They will say that it's actually, you know, the their their wife needs to pay, their that someone will be in touch. 00:21:44.559 --> 00:21:50.079 You know, they will say anything, and we've heard it all to leave without having spent the money. 00:21:50.400 --> 00:21:53.279 My encouragement to you is don't fall for it. 00:21:53.599 --> 00:21:59.279 You will be mad, you will be disappointed, but if you know they're bullshitting me. 00:22:00.079 --> 00:22:01.440 They're telling me they're gonna wire transfer. 00:22:01.680 --> 00:22:02.720 Oh, check's in the mail. 00:22:03.039 --> 00:22:09.839 We had one client once who said was telling me it's so crazy how slow the USPS was because the check was in the mail for about a month and a half. 00:22:10.079 --> 00:22:13.200 We we know the mail is slow, but it's not that slow. 00:22:13.440 --> 00:22:14.720 Moving one state over. 00:22:14.880 --> 00:22:15.200 Yeah. 00:22:15.519 --> 00:22:16.480 Not that slow. 00:22:17.119 --> 00:22:24.000 They will say anything it takes to leave without having paid, or to get you to leave without having collected money. 00:22:24.400 --> 00:22:25.599 Don't fall for it. 00:22:26.640 --> 00:22:39.920 It is very important that when you are with them, you are getting full or half paid on the spot. 00:22:40.640 --> 00:22:43.200 Now, that's essentially what's going on in LCC. 00:22:43.359 --> 00:22:43.519 Right. 00:22:43.680 --> 00:22:46.480 A couple of the clothiers had appointments with people. 00:22:46.880 --> 00:22:48.799 I'm not I'm not entirely clear yet. 00:22:48.960 --> 00:22:51.119 Um everybody's circumstances were different. 00:22:51.279 --> 00:22:57.119 Some of them were uh repeat people they knew, some of them were new, some of them traveled to see them. 00:22:57.440 --> 00:23:00.720 Uh, and they're all different scenarios. 00:23:00.880 --> 00:23:06.720 That the one thing they all had in common, though, was there was no transaction at that appointment. 00:23:06.880 --> 00:23:07.039 Yeah. 00:23:07.519 --> 00:23:10.480 For some reason, the transaction didn't take place at that moment. 00:23:10.640 --> 00:23:13.359 It was like a I'll send you an invoice type of thing. 00:23:13.519 --> 00:23:19.839 And uh, I'm not, I'm not entirely sure on the circumstances as to why, but I do think sometimes we as clothiers make excuses. 00:23:19.920 --> 00:23:21.359 Oh, well, I've worked with this person before. 00:23:21.440 --> 00:23:22.480 I know he's good for it. 00:23:22.640 --> 00:23:24.240 Listen, we can't know that. 00:23:24.400 --> 00:23:25.200 We don't know that. 00:23:25.279 --> 00:23:26.960 And I've been unpleasantly surprised before. 00:23:27.039 --> 00:23:31.279 I've been pleasantly surprised as well, but I've been unpleasantly surprised before. 00:23:32.240 --> 00:23:33.039 It just happened. 00:23:33.279 --> 00:23:33.759 Right. 00:23:34.000 --> 00:23:41.039 We j we just had a guy who we had had conversations with him a couple months ago about what we were gonna be doing today at his final fitting. 00:23:41.200 --> 00:23:43.279 He came in, he wasn't ready to do any of it. 00:23:43.759 --> 00:23:46.559 And this is actually the first he's always been good for it. 00:23:47.119 --> 00:23:51.839 And this I was very much expecting that that was gonna happen again today, and it just didn't. 00:23:52.480 --> 00:23:53.519 I was in one of those months. 00:23:53.680 --> 00:23:55.119 I was unpleasantly surprised today. 00:23:55.279 --> 00:23:56.400 I'm not mad at him. 00:23:57.119 --> 00:23:58.559 He doesn't owe me that. 00:23:59.759 --> 00:24:02.079 But sometimes that happens. 00:24:02.319 --> 00:24:07.279 We can't allow past experiences to cloud our process. 00:24:07.680 --> 00:24:10.799 We can't be in the habit of compromising too much. 00:24:11.519 --> 00:24:14.960 We can't change our processes for other people's promises. 00:24:15.599 --> 00:24:30.480 And it doesn't matter how on paper good this client should be, or how much money this client has, how big of the house you're leaving is. 00:24:30.880 --> 00:24:39.680 I love that reel where it's you you pull up to the client's house who asked for a discount, and then they like drop their sunglasses and they're looking up, and it's like this huge mansion. 00:24:40.480 --> 00:24:44.000 But the the the clothiers that are going through this, they're the different situations. 00:24:44.160 --> 00:24:47.759 One of them is mobile, one of them has a location, but went to see this client. 00:24:47.920 --> 00:24:54.160 But what they have in in common is that neither of them got paid on the spot, and now they're dealing with chasing their money. 00:24:54.400 --> 00:24:56.640 They've sent invoices that are getting ignored. 00:24:56.720 --> 00:24:58.319 They're they're getting pushback from the client. 00:24:58.960 --> 00:25:04.079 Somebody's waiting for some money to move around, and somebody's waiting for money to hit. 00:25:04.160 --> 00:25:05.440 And I've heard all this too. 00:25:05.920 --> 00:25:07.279 This is not new, this is not new to them. 00:25:07.680 --> 00:25:10.720 Let me move some things around, send me the invoice, let me move some things around. 00:25:11.279 --> 00:25:12.079 You know who kept saying that? 00:25:12.240 --> 00:25:13.359 Anna Delvey. 00:25:13.519 --> 00:25:13.759 Yeah. 00:25:14.319 --> 00:25:14.720 Remember that? 00:25:14.880 --> 00:25:16.640 Remember that story of the Soho Grifter? 00:25:16.799 --> 00:25:19.200 Anna Delvey was always waiting on a wire transfer. 00:25:19.279 --> 00:25:19.680 Yeah. 00:25:19.920 --> 00:25:21.599 Waiting for a big transfer to hit. 00:25:21.759 --> 00:25:22.160 Yeah. 00:25:22.400 --> 00:25:28.720 And it's just the only thing that we can do in that situation is nothing. 00:25:29.680 --> 00:25:31.920 We are a hundred

percent at their mercy. 00:25:32.079 --> 00:25:35.519 We need to hope that they decide to pay. 00:25:35.759 --> 00:25:43.279 If you don't collect payment when you're with the client, all of a sudden you leave and they consider the payment to be optional. 00:25:44.000 --> 00:25:44.799 That's very true. 00:25:44.960 --> 00:25:47.519 They also consider the order to be optional. 00:25:47.759 --> 00:25:50.559 And a whole bunch of question marks. 00:25:50.799 --> 00:25:56.640 Best case scenario we've found with uh an after-the-fact invoice sent. 00:25:57.279 --> 00:26:02.799 Best case scenario is they start to pick off things on the invoice that they all of a sudden don't want anymore. 00:26:02.880 --> 00:26:07.119 Even though we just had the thing, they they were so excited about it. 00:26:07.279 --> 00:26:09.200 It is going to meet their needs. 00:26:09.359 --> 00:26:13.519 And when push comes to shove, oh, it turns out they don't need any of it. 00:26:13.920 --> 00:26:15.440 Best case scenario. 00:26:15.599 --> 00:26:18.240 Well, best case scenario is they pay the whole thing right away. 00:26:18.559 --> 00:26:22.400 Which has also happened, but a lot less common than the alternatives. 00:26:22.559 --> 00:26:22.960 Right. 00:26:23.200 --> 00:26:32.240 So the the likely best case scenario is they start to hand select a few of the things that they are going to keep in order. 00:26:32.400 --> 00:26:47.279 You then have to process a new invoice, eliminate, let's call it half of what you spent time going through with them, and then getting paid half of what you're, in my opinion, you are owed for the time and the energy and the effort spent with them. 00:26:47.440 --> 00:26:51.759 And let's be just so for real right now, you did not drive across town to do that bullshit. 00:26:51.839 --> 00:26:52.160 Right. 00:26:52.319 --> 00:26:58.640 You did not take time out of your day to do that and negotiate a sale you already made. 00:26:58.880 --> 00:27:03.279 That's the other thing, too, is it I already made this sale. 00:27:03.359 --> 00:27:09.039 In my mind, when this is happening, it's like like I already did the work for this sale. 00:27:09.200 --> 00:27:11.599 I am owed this total dollar amount. 00:27:11.839 --> 00:27:18.400 So any amount underneath this total does not feel good to me, even if you're just ditching a few of the shirts. 00:27:18.559 --> 00:27:25.920 Any amount underneath this total that we agreed on, that we talked through, that we designed, is not a win for me. 00:27:26.160 --> 00:27:30.799 The only win for me is to get this dollar amount that we went through together. 00:27:31.119 --> 00:27:37.039 Worst case scenario is they say, ah, you know, I'm just, I'm just not there. 00:27:37.119 --> 00:27:38.240 Let's go ahead and cancel. 00:27:38.319 --> 00:27:40.160 I'll circle back in the fall. 00:27:40.400 --> 00:27:41.680 I'll circle back in the spring. 00:27:42.000 --> 00:27:42.720 They'll always circle back. 00:27:42.799 --> 00:27:44.079 You

know, we're owed a couple circles. 00:27:44.319 --> 00:27:45.440 We're owed a couple circle backs. 00:27:45.599 --> 00:27:46.640 We're owed a lot of circle backs. 00:27:46.799 --> 00:27:49.119 They always try to leave you with a little carrot dangle. 00:27:49.200 --> 00:27:54.000 They're not gonna say, you know, go to hell, cancel my order, never speak to me again. 00:27:54.160 --> 00:27:58.799 They're gonna try to, because they don't want to disappoint and they don't want to close the door either. 00:27:58.960 --> 00:28:03.279 They want, they want you available for them when they want to be, when they want something. 00:28:03.519 --> 00:28:04.000 Right. 00:28:04.240 --> 00:28:10.640 So there's gonna be, there's gonna be some hope that they try to leave you with, but the situation is hopeless. 00:28:10.880 --> 00:28:16.559 The situation is doomed from the moment that the meeting ended and you didn't get paid. 00:28:16.960 --> 00:28:25.920 It is crucially important in this business that you are getting paid in whatever way you need to get paid at that meeting. 00:28:26.079 --> 00:28:29.279 And that's how we do 50-50 now. 00:28:29.759 --> 00:28:32.799 You get to the end, it's time to pay for some reason. 00:28:32.960 --> 00:28:42.799 Again, this is very uncommon, but sometimes it happens where they, you know, they stop doing the math in their head because we also have been very clear that we don't ever surprise people with price points. 00:28:42.880 --> 00:28:46.720 We've already talked about it in a very specific place in our appointment that works every time. 00:28:46.880 --> 00:28:54.480 But if they're not doing their own math as they're buying things, sometimes they get to the very end and they're kind of surprised at the number. 00:28:54.720 --> 00:28:57.680 And at that point, you know, you gotta allow there to be time. 00:28:57.759 --> 00:28:59.519 You got to allow them to sit with it. 00:28:59.759 --> 00:29:02.960 They will oftentimes start to think out loud. 00:29:03.119 --> 00:29:05.759 Oh, wow, that's just a little, that's a little bit more than I was. 00:29:06.160 --> 00:29:10.480 Yeah, they'll start to process things verbally with together with you. 00:29:10.799 --> 00:29:11.759 You know, oh, interesting. 00:29:11.839 --> 00:29:12.480 How did we get there? 00:29:12.640 --> 00:29:15.200 Okay, you know, it looks like we got the the suits here. 00:29:15.279 --> 00:29:16.160 Yeah, that makes sense. 00:29:16.240 --> 00:29:16.640 I remember that. 00:29:16.960 --> 00:29:17.759 And how much are shirts? 00:29:17.839 --> 00:29:18.799 Oh, wow, those are expensive. 00:29:18.960 --> 00:29:19.440 Oh, okay, yeah. 00:29:19.519 --> 00:29:20.480 Oh, that's those are the shirts. 00:29:20.559 --> 00:29:21.279 Okay, now what's this? 00:29:21.359 --> 00:29:22.240 Oh, okay, that's that. 00:29:22.400 --> 00:29:23.200 Okay, got it. 00:29:23.279 --> 00:29:24.559 Uh, yeah, that all makes sense. 00:29:24.640 --> 00:29:30.319 It's you know, just a little bit more than uh I was planning to do or I budgeted for. 00:29:30.799 --> 00:29:32.240 This person needs to be rescued. 00:29:32.319 --> 00:29:33.599 This person needs a hero. 00:29:33.680 --> 00:29:34.960 And it guess what? 00:29:35.200 --> 00:29:36.880 This person needs a life raft. 00:29:36.960 --> 00:29:37.680 And guess what? 00:29:37.759 --> 00:29:38.720 I'm about to throw it. 00:29:38.880 --> 00:29:39.839 We're the heroes here. 00:29:40.079 --> 00:29:45.839 Would it be helpful if we split this down the middle and I collected half of this dollar amount today? 00:29:46.000 --> 00:29:50.319 And then don't worry about, don't worry about the rest until everything is done. 00:29:50.400 --> 00:29:56.160 You're trying it on, everybody's giving it a thumbs up, and I'll take the second half when when everything is complete and you have it. 00:29:56.480 --> 00:29:59.599 Oh yeah, that sounds that sounds great. 00:29:59.759 --> 00:30:01.680 Okay, thank you for being willing to do that. 00:30:01.839 --> 00:30:04.240 And yeah, and now they're relieved and now they're thanking you. 00:30:05.200 --> 00:30:12.240 That's a really great way to save that option, something that we used to be our process. 00:30:12.480 --> 00:30:19.519 Everyone used to get this, but now we get to be really selective and when we do it, and then the result ends up being so much better. 00:30:19.759 --> 00:30:26.079 And also we can afford to do it now because we aren't our business robbing Peter to pay. 00:30:26.480 --> 00:30:43.759 Our business isn't built on half payments, and God forbid manufacturing takes a little longer than we were thinking, or or heaven forbid an unexpected expense comes up, or we're not building our business on these fractions of order totals. 00:30:44.000 --> 00:30:50.319 Or when we had$100,000 retail stuck in customs for five months this year, right? 00:30:50.480 --> 00:30:53.839 For example, not an exaggeration, a true number. 00:30:54.000 --> 00:30:54.559 Yep. 00:30:54.880 --> 00:30:58.799 And actually, it was more than that because we had a bunch of personals in there too, but I'm not counting that. 00:30:59.039 --> 00:30:59.680 Yeah. 00:31:00.240 --> 00:31:08.799 So there is a world, even with us as as hell-bent as we are on getting paid in full upfront every time. 00:31:09.039 --> 00:31:13.920 There is a world in which we do make changes to our own process. 00:31:14.000 --> 00:31:16.960 And it's based on the client and it's based on the circumstances. 00:31:17.119 --> 00:31:21.759 And it isn't always necessarily a double-digit thousand dollar sale. 00:31:21.920 --> 00:31:31.440 No, I mean, often it is because that though those are the numbers that get people up, many people thinking, but it isn't always a double-digit. 00:31:31.519 --> 00:31:33.359 Like I'm just being totally honest with you. 00:31:33.440 --> 00:31:40.960 There are some people who eight grand feels like what to other people 80,000 would feel like. 00:31:41.359 --> 00:31:49.359 And we always

have in our back pocket the ability to split the payment because our business isn't built on 50% payments anymore. 00:31:49.599 --> 00:31:57.119 It's built on clients paying in full up front, us having the money we need to do what we need to do for their order and for things moving forward. 00:31:57.359 --> 00:32:06.079 But think about what could have happened had we let them leave, sent them that invoice, and allowed them to decide whether they're paying it or not. 00:32:06.319 --> 00:32:14.319 My guess would be cold feet would win out, buyer's remorse would set in, and they would say, you know what, I don't think I'm doing this now. 00:32:14.480 --> 00:32:21.119 Buyer's remorse is a real thing, even though buyer's remorse is not justified. 00:32:21.279 --> 00:32:24.799 Most of the time, I mean, I feel buyer's remorse when I make big purchases. 00:32:24.960 --> 00:32:29.119 I just bought a car last week and I love it. 00:32:29.680 --> 00:32:34.079 But at that day, that first day, I was like, I didn't need this. 00:32:34.400 --> 00:32:35.359 My car was paid off. 00:32:35.599 --> 00:32:37.119 You get that weird feeling. 00:32:37.279 --> 00:32:37.599 Yeah. 00:32:37.839 --> 00:32:51.759 And we don't want our clients to come to us, communicate their needs, us meet their needs, them hire us to help them meet their needs, and them hire us to have a different perspective on what their needs are than them. 00:32:52.000 --> 00:33:03.039 We don't want to give them that time to allow their own misguided uh buyer's remorse or their own excuses that they're telling themselves to win out. 00:33:03.359 --> 00:33:09.119 And the only way you can prevent that from happening is by getting paid in that moment. 00:33:09.599 --> 00:33:25.519 And the only way you can get paid in that moment is if they're expecting to have to pay in that moment, which comes from pre-qualification emails or communications of some kind where you are setting expectations and you are saying, here's what's happening, you are paying. 00:33:25.759 --> 00:33:27.519 This is not a consultation. 00:33:27.920 --> 00:33:36.079 And this is where I think it's important to have a realistic perspective of the clientele that you currently work with. 00:33:36.480 --> 00:33:44.000 Because there are some of you listening to this who you're gonna need a little bit more than that in your pre-fitting qualification email. 00:33:44.240 --> 00:33:45.759 You're going to need to communicate. 00:33:45.839 --> 00:33:57.680 It is going to be important that you have a uh, that you have access to the funds necessary to fully pay for the items or to pay half and half. 00:33:57.920 --> 00:34:03.839 And and I'm we're workshopping this right now in LCC with uh one of the clothiers going through this is agreed. 00:34:03.920 --> 00:34:09.199 I I think our email reads a little bit maybe different than what his should. 00:34:09.440 --> 00:34:13.519 I feel like his maybe might need to include something about how he's not gonna collect. 00:34:13.920 --> 00:34:16.639 Here's how I am gonna collect payment, here's what I'm not gonna do. 00:34:16.880 --> 00:34:17.199 Right. 00:34:17.440 --> 00:34:19.360 And I sent him some options over this morning. 00:34:19.519 --> 00:34:20.719 We'll see what he what he does. 00:34:20.880 --> 00:34:24.079 But I do think sometimes you you have to be that explicit. 00:34:24.239 --> 00:34:33.760 And if you're feeling like this is a habit, this is a recurring thing that you deal with a lot, you get to the end a lot of times and you're asked to leave without getting paid, you're sending invoices that get ignored. 00:34:34.000 --> 00:34:37.840 You might need to make some changes to the pre-qualification emails you're sending. 00:34:38.000 --> 00:34:40.079 And if you aren't sending them, that's your problem. 00:34:40.239 --> 00:34:44.639 Uh, but if you are sending them, you need to rewrite them and I can help you. 00:34:44.800 --> 00:34:48.719 Uh, but you know, it's in cloth your kingdom, you can get it yourself. 00:34:48.800 --> 00:34:53.679 But you may need to spell out specifically here's what's gonna happen, here's what's not gonna happen. 00:34:53.840 --> 00:35:00.159 It's kind of like when we say, you know, this is a decision-making making meeting, this is not a free consultation. 00:35:00.239 --> 00:35:03.199 Uh we're saying the same thing in two different ways. 00:35:03.360 --> 00:35:06.559 Uh uh here's what it is, here's what it's not. 00:35:06.880 --> 00:35:12.800 And that can sometimes feel like overkill when you're putting together strategic communications. 00:35:13.039 --> 00:35:16.800 The only people who read it that way, though, are the people who aren't ready for it. 00:35:17.039 --> 00:35:17.280 Right. 00:35:17.440 --> 00:35:23.119 And uh and the only people who read it as overkill is the person who's actually writing it, where you're like, man, didn't I already say that? 00:35:23.280 --> 00:35:24.239 It doesn't matter. 00:35:24.480 --> 00:35:25.840 Say it again. 00:35:26.159 --> 00:35:48.400 And that's where I think you having an understanding of your clientele, because I think if you're finding yourself running into this, in this, I'm sending invoices to people who are buying their wedding suits and I'm waiting to get paid on this stuff because I'm feeling like they actually don't have access to the money when they're working with me. 00:35:48.559 --> 00:36:00.639 You need to make it clear in your qualification pre-fitting email that it is important that they have a way in which they can pay a substantial dollar amount on the spot. 00:36:01.039 --> 00:36:19.360 We're working through something like this actually right now, and I'm just gonna share it with you, and maybe someone has advice for us, but we're working on some language that we haven't nailed about when someone's spouse or significant other schedules on their behalf, but it's a surprise for them. 00:36:20.559 --> 00:36:21.840 We we've tried a few times. 00:36:22.159

--> 00:36:24.239 Here's here's here's what that sounds like. 00:36:25.039 --> 00:36:25.360 Hi. 00:36:26.079 --> 00:36:29.679 You know, I've I'm I'm scheduling this appointment on behalf of my husband. 00:36:29.760 --> 00:36:31.599 It's his birthday on this day. 00:36:31.760 --> 00:36:41.119 I would love to come in on that day or a day surrounding that and surprise him for his birthday with some, you know, to work with you. 00:36:41.679 --> 00:36:46.719 Seems straightforward, except for last year, uh almost exactly to the day. 00:36:46.800 --> 00:36:47.840 Maybe it's our anniversary. 00:36:48.079 --> 00:36:49.360 Maybe should I try to figure it out? 00:36:49.599 --> 00:36:50.480 No, that's not that important. 00:36:51.440 --> 00:36:55.119 But we have back this happened back to back where it should have been straightforward. 00:36:55.280 --> 00:36:56.239 The they were great. 00:36:56.400 --> 00:36:57.760 We had great experiences with them. 00:36:57.840 --> 00:36:59.199 They were, you know, very nice. 00:36:59.360 --> 00:37:00.079 We enjoyed them. 00:37:00.239 --> 00:37:08.000 They bought you know multiple things, but at the end of the appointment, the guy, the surprise, the recipient is like, I'm not paying that. 00:37:08.320 --> 00:37:16.400 And he's like very mad at his in one case it was wife, at one case it was fiance, and it was so uncomfortable. 00:37:16.639 --> 00:37:22.880 He was he was and we had had the conversations, we had had the price conversations, like we'd already had those conversations, right? 00:37:22.960 --> 00:37:27.360 But what we what we didn't get clarity on is are you allowed to spend his money? 00:37:27.920 --> 00:37:33.039 Is he gonna be okay spending this kind of money, or do you just want him to be okay spending this kind of money? 00:37:33.440 --> 00:37:37.840 Well, it turns out he wasn't okay spending the amount of money, and he's mad at her, he's also mad at us. 00:37:38.480 --> 00:37:43.119 It was the worst, and we're like, we're never ever doing this again. 00:37:43.760 --> 00:38:00.320 But we haven't figured out a way yet to upfront say if you are not the breadwinner or you don't have access to spend thousands of dollars without getting permission, we cannot schedule this appointment. 00:38:00.800 --> 00:38:04.480 So if you've got a nice way of doing that, and we've I'll owe you one. 00:38:04.719 --> 00:38:12.559 We've tried running it through, you know, Chat GPT and other AI uh situations in a way that sounds approachable. 00:38:12.719 --> 00:38:17.440 I'm I I have an active draft on my phone right now that I feel like gets the job done. 00:38:17.599 --> 00:38:21.760 It's just an uncomfortable, it's an uncomfortable essentially demand. 00:38:22.079 --> 00:38:25.119 It's like a hard, yeah, it's a hard truth, and it's not a nice thing to ask. 00:38:25.199 --> 00:38:32.559 And it's you know, it it is kind of it is kind of a um touchy subject. 00:38:32.719 --> 00:38:33.039 Yeah. 00:38:33.599 --> 00:38:35.039 But he's a touchy subject. 00:38:35.360 --> 00:38:50.000 But our experience is that it's happened quite a few times where somebody's intentions are great, but ultimately, you know, they don't have the autonomy in their relationship to spend the kind of money without checking. 00:38:50.880 --> 00:38:52.880 And we can't work that way. 00:38:53.599 --> 00:39:00.719 So unless it's his idea and he wants to come in and he's asked her to schedule it and he said he wants to be surprised, don't tell me when it's happening. 00:39:01.280 --> 00:39:03.119 We've got to get clarity here. 00:39:03.360 --> 00:39:06.719 And as you know, we don't make our appointments all about the money. 00:39:06.880 --> 00:39:15.679 So what I'm not gonna do is have them come in and say, okay, here's what we're looking at for price points, and get let him cap himself from the beginning, that's not gonna go well either. 00:39:16.000 --> 00:39:20.639 All that to say, that was such a tangent, but that's something that we're actively working through. 00:39:20.800 --> 00:39:29.119 It might require a little bit of uh working through working through as far as communicating your expectations, what you will and won't tolerate. 00:39:29.199 --> 00:39:35.199 Uh, but I do, I do suggest, first of all, if you're not sending expectations emails, what are you doing? 00:39:35.360 --> 00:39:36.639 Get on it, figure it out. 00:39:36.800 --> 00:39:40.079 That's gonna save you so much time, money, energy, frustration. 00:39:40.400 --> 00:39:44.159 But you may need to work through the language, and depending on how you operate. 00:39:44.239 --> 00:39:48.719 If you're mobile, it's gonna read different than if you have a location, you know, those, those things. 00:39:48.960 --> 00:39:58.800 But you may not you may have to focus not just on what you will do, but you might have to spell out specifically and explicitly what you won't do. 00:39:59.440 --> 00:40:00.000 I don't know. 00:40:00.239 --> 00:40:01.760 I don't run your business. 00:40:02.000 --> 00:40:12.559 And you know, you those are the types of things that you'll have to figure out, and those are the types of things we're actively working through right now in our LCC group, and there's some messages that we have to get back to on that. 00:40:13.440 --> 00:40:21.440 But that would be our encouragement to you is you don't have to you don't have to take payment in a way that doesn't work well for you. 00:40:22.159 --> 00:40:23.519 It's up to you to change it. 00:40:23.920 --> 00:40:26.880 If you're gonna change it, there are some changes you have to make. 00:40:27.679 --> 00:40:31.039 I really don't think you're gonna get as much pushback as you're afraid you will. 00:40:31.519 --> 00:40:34.480 You also don't you're also not a debt collector. 00:40:35.599 --> 00:40:38.239 You don't have to chase your money around. 00:40:39.119 --> 00:40:48.719 And if you want to stop chasing your money around, the plan of attack is you have to properly prepare people

to be ready to spend money in the moment. 00:40:48.880 --> 00:40:52.000 And you have to have a way to collect money in the moment. 00:40:52.239 --> 00:40:56.000 Maybe that means you need to get a credit card processing. 00:40:56.320 --> 00:41:06.239 Maybe you've operated with, you know, wire transfers and cash and checks your entire career and you're realizing, you know, this isn't working very well, but I don't want to lose the three and a half. 00:41:06.639 --> 00:41:08.880 Okay, by the way, that's that's a poverty. 00:41:09.199 --> 00:41:10.800 It's the cost of doing business. 00:41:11.039 --> 00:41:13.920 Inf inflate your prices 3% if you need to offset it. 00:41:14.079 --> 00:41:14.559 I don't care. 00:41:14.719 --> 00:41:19.840 Don't let that stupid credit card processing fee prevent you from getting paid. 00:41:20.079 --> 00:41:21.920 That is such a short-sighted decision. 00:41:22.079 --> 00:41:27.599 That's like refusing to get a raise at your job because you don't want to have to pay more taxes. 00:41:27.840 --> 00:41:28.159 Right. 00:41:28.639 --> 00:41:30.719 Oh, well, I don't want to get into the next tax bracket. 00:41:31.119 --> 00:41:35.039 It's a short-sighted decision and it's it's faulty logic. 00:41:35.360 --> 00:41:36.239 Figure it out. 00:41:36.480 --> 00:41:45.440 You if you don't have a way to get paid on the front end on the spot, you are losing so much more money than 3% on every transaction. 00:41:45.679 --> 00:41:46.159 Right. 00:41:46.639 --> 00:41:57.519 So there's a plan of attack, and maybe some of you needed just the permission to stop feeling like you need to chase your money around because you don't. 00:41:57.920 --> 00:42:04.079 And you don't need you don't need my permission to stop chasing your money around, but maybe you need it and you appreciate it. 00:42:04.239 --> 00:42:08.400 And if anyone pushes back, you can blame us to say, you can call us your business coach. 00:42:08.480 --> 00:42:10.880 Say my business coach made me change this. 00:42:11.119 --> 00:42:15.920 Yeah, my business coach told me I'm not a debt collector and I don't, I don't chase my money. 00:42:16.159 --> 00:42:18.400 They won't have anything to say about that then. 00:42:18.800 --> 00:42:20.239 So hopefully this helped. 00:42:20.480 --> 00:42:23.119 Hopefully, if you need a path forward, you have one. 00:42:23.280 --> 00:42:26.000 At least you have a little more clarity on where you want to go. 00:42:26.159 --> 00:42:28.000 And for now, this appointment is over. 00:42:28.159 --> 00:42:34.079 Well, before we before we close out, if anyone's still listening, if you're like me, you would have already hit next. 00:42:34.159 --> 00:42:34.320 Yeah. 00:42:34.480 --> 00:42:35.199 Or off. 00:42:35.679 --> 00:42:43.840 But if anyone's still listening, uh, I I want to say thank you to those of you who are saying thank you to us, who DM us and they you're sharing real things that are happening. 00:42:44.079 --> 00:42:45.360 That's a but that's a

Barney episode. 00:42:45.519 --> 00:42:46.480 Thank you for saying thank you. 00:42:46.639 --> 00:42:47.199 You're welcome. 00:42:47.360 --> 00:42:48.559 Hey, thank you for saying you're welcome. 00:42:48.639 --> 00:42:50.000 You're welcome, you're welcome for saying you're welcome. 00:42:51.920 --> 00:42:53.199 That's kind of what I feel like I'm doing. 00:42:53.280 --> 00:42:54.559 But I love hearing from you. 00:42:54.719 --> 00:42:59.199 I love hearing what wins you're experiencing from listening to this. 00:42:59.360 --> 00:43:00.480 And keep it coming. 00:43:00.559 --> 00:43:02.880 I hope we continue to help make you more money. 00:43:03.039 --> 00:43:06.000 But I do appreciate hearing from you and I'm glad it's working. 00:43:06.079 --> 00:43:10.880 I'm not surprised, like I always say, I'm never surprised to get the messages, but it's always good. 00:43:11.039 --> 00:43:12.239 I'm always happy to hear it. 00:43:12.320 --> 00:43:15.119 But I'm unsurprised that this works. 00:43:15.440 --> 00:43:18.559 But I'm glad that you might be a little surprised it's working. 00:43:18.639 --> 00:43:19.039 Yeah. 00:43:19.280 --> 00:43:31.840 It's always great to hear things that are going well for you because I do think just based on what this podcast is, we we have a tendency to talk about things that don't go well or things that aren't going well, or how to fix things that you feel like aren't going well. 00:43:32.000 --> 00:43:37.440 So hearing things that are going well, maybe we'll do a whole episode on wins that we've heard from people and changes made. 00:43:37.679 --> 00:43:38.559 I'd love to have one one day. 00:43:38.719 --> 00:43:39.760 Yeah, I'd love to have a win. 00:43:39.920 --> 00:43:40.880 I love inside jokes. 00:43:40.960 --> 00:43:42.480 I hope to be a part of one one day. 00:43:42.719 --> 00:43:47.519 But yeah, please rate uh and review our podcast five stars if you're finding it helpful. 00:43:47.599 --> 00:43:50.800 We are only interested in five star reviews and ratings. 00:43:51.039 --> 00:43:54.400 So if you feel like this is a three or a four-star podcast, don't bother. 00:43:54.639 --> 00:43:55.199 Keep on moving. 00:43:55.360 --> 00:44:01.920 But if you feel like this is a fiver, we would love, uh, we would love for you to go ahead and click up those stars, write us a little uh review. 00:44:02.000 --> 00:44:05.679 It helps people like you in your situation find us and listen. 00:44:06.000 --> 00:44:07.119 This appointment is over. 00:44:07.280 --> 00:44:08.719 We'll see you at your next one. 00:44:08.960 --> 00:44:33.599 If you're a custom clothier and you want to be more profitable, less stressed, and work with more of your target demographic client who spends more and buys more often, we share our exact strategies on how to do that and our resources available now on clothiercoaching.com, including Million Dollar Manual, a playbook for turning your six-figure business into a custom clothing business that makes more than a million dollars every year. 00:44:33.760 --> 00:44:44.000 For higher touch, more direct access to us, we have a small mentorship group called Luxury Clothier Collective, where we're actively helping clothiers around the country become their markets leader. 00:44:44.159 --> 00:44:51.440 If you're serious about finally building that profitable luxury custom clothing business you've always wanted, this is your next move. 00:44:51.599 --> 00:44:54.559 Join the wait list and we'll let you know when enrollment opens again. 00:44:54.719 --> 00:44:56.159 Thanks for listening.