Joe Troyer 0:44 What would you say are the top kind of mindset shifts or things that you have to train on? That are like the most common things that you see all the time with your clients? Right? When you say you do business coaching? What are the top kind of three or four things that you see all the time? That's like, yep, I know, you know, that a month from now, I'm going to have this conversation that in another quarter from now I'm going to have this conversation, because I'm starting to go through those. So selfishly, I want to ask for selfish reasons. Like what what are maybe some of those that are going to come up for me?
Nehal 1:18 Yeah, for sure. The first one, I think the biggest one by far is the ROAS target. Like that's this business strategy. And like, directional goal issue. And we're grateful man, like a lot of our clients come in with like, Look, we want to scale, we've been educated and failed in the past when we didn't set our row as goal, like when we set it too aggressively, and it was too high in order to be successful. So we know what is good enough in order to operate and scale. So we're healthy, and the lifetime value is there. So I think from a mindset standpoint, when people are not willing to decrease the ROAS goal because they're so used to being profitable or too profitable. It actually is a massive limiter of growth, because they're sacrificing like tomorrow for today.
Whereas all of our successful clients are actually sacrificing a little bit of today for like a lot of tomorrow. So that's probably the first one. Then the other mindset thing I've seen is that, especially as the numbers get bigger, people don't look at metrics. Or like they kind of disconnects from that. So we track anywhere between 35 to 40 metrics every single day. So they're semi automatic, automatic. So we look at totals of like total number of clicks, lead purchases, like total cash collected, cost per so cost per click cost per Add To Cart cost per whatever sale, and then we look at ratios.
And so ratios of like click to add to cart add to cart, initiate, checkout, all those kind of things all the way through, and we look at profitability. And that's part of totals, but profitability as well on a daily basis, what's going on, on Facebook, what's going on store wide gaps in delayed attribution, all of that. What we see is 40 metrics look like a lot. But we actually, there's core metrics. And so there's three to five, like core metrics, and what happens or sometimes they're really just too. So you can have really high row as with like, low volume of customers, because you can't pay your team. Right?
So and I'm learning about this about like paired metrics. And you know, depending on what's important to you, there might be up to like three to five metrics. And one of the challenges is, which metrics are your non negotiables? Because if they're all five, like, that's ideal, of course, and that's great. But realistically, like, especially when we're talking about breaking records, like month on month, like it's very hard to hit every single metric. So that's, you know, disconnecting from the overwhelm of data. Like we we want clients to live in the KPI sheets, and most of them do, we open sheets, and they're in there. And so like, that's, that's what we want. I think so that's like the second one.
The third one kind of mentioned right now is like, the actual mindset pursued, an expectation that we're going to outperform our last month outperform our last quarter outperform our last year, like if that's not even the expectation or the purpose or desire, then it's not going to happen is very difficult. It's very difficult. So we look at this as like two things. Are you in scale mode? Or are you in ROAS protection mode? And depending on the season of the business, or there's other modes, which are not positive? So in terms of rebuilding or pausing and redevelopment, that kind of thing.
But are you aggressively looking to scale that usually means less profit short term or like, not as profitable? And then are you or are you like trying to stack cash and do a inventory buy or do some sort of like, you know, just cruising on that momentum in order to let recurring customers catch up or wait for that promotion and allow any kind of capital injection to do that something next. So that really makes a big difference. Because our mindset is we're a scaling agency, we want to keep setting bigger goals.
And, you know, for me mentally has been what, you know, I want to design the business to take companies from six figures a month to seven figures a month, that's relatively recent, like our mindset shift on that. One day, I set a goal of like, man, it would be amazing to spend a million dollars a month, like that would be amazing. And I didn't even it's like, that goal. I didn't even know how much I was spending that month. So how can you accomplish that if you don't even know what you're spending? So then we set up a system, all the clients, what is how much are we spending that specific date? How much are we doing month to date?
What is our pacing in order to accomplish that month's goal? And then one person on our team posts that every single day tagging the core people on our team and saying this is the pacing, this is how much we spent this is our pacing, if we're on track or not. And so then we can't bs ourselves. And so that went from we didn't know how much we're spending to like, Oh, what a million be cool to then like we actually hit the million a month last year on my birthday. Almost exactly.
And then now we're at 1.7 million, approximately per month. And we're managing like real like eight core brands. And so that's like, you know, the money's cool all that stuff. Like, I want challenges like what does it look like? I was thinking about it today? What does it look like to build a 2 million a month, 3 million, 5 million a month company is like, is that what we want? And soit has to be enjoyable, it has to be a challenge. When I get bored. I think like that's, you know, the entrepreneurial add stuff happens. And so I've been working on getting out of that and not freaking my team out. So thinking about more of that privately before sharing that with anyone on I love
Joe Troyer 6:50 So I love it, man. What What do you do? I'm curious, when when you get bored. When your entrepreneurial add takes over what happened, man,
Nehal 7:00 it's not good. It's not good. So this year has been very different for me. So with COVID, I did something that I haven't really done or I haven't committed to in the past where I gave the illusion of of it that I was doing it, which is like actually letting go. And so there's like levels to letting go or like surrendering to that to letting other people do their thing. And I'm still working there. It's constant, you know, and the biggest thing I did was my challenge in the past was, they were buying Nehal like they were buying for me to come and perform. And that's not sustainable. And it's just not, it's not a business, right. It's like, basically, I have to perform. And so slowly, I let go of that control. And now because I allow people to perform, they're outperforming what they're doing before, of course, it's almost cliche at this point. But that's usually what happens.
And people are making more money. So we have a salary plus bonus structures where people have the ability to make like 100% 250% of their base salary. And so then all of them, everyone on the team, the core people have, they're the same metric. So when someone does anything good for the other person, then they're like, oh, like you helped me hit that. So now everyone's helping each other make more money, right? Then I don't have to manage that. And then they can manage it themselves. Because they have tiers. It's like, I want to hit the next tier. And they get antsy. I'm like, What last month I made more, what's wrong with this month, they're like what's going on.
So that was like, the biggest thing. This year has been incredible for me from a personal standpoint, because I've had those time and space to work on myself and like work on my relationships that are important to me. And that actually is translating a lot to business success. I moved from a pretty nice home to, you know, a home that's three times bigger and like there's all these like small upgrades mentally that I'm doing for the purpose of like creating a bigger vision. So entrepreneurial ADD, I've been overall really good about saying no to most things I was actually really excited about in the beginning of COVID because I was like, Alright, I'm gonna go into this buying business stuff. And all businesses were up. And then I was like, okay, stock market is up. So not much turnaround stuff that I can do that I thought I was gonna that I was expecting.
And I bought a course and I was like, the best decision I made is like, I'm not going to do anything. And so that was the best decision and I save so much time and money in that process. So usually though, with a lot of this stuff, I think we create a lot of internal anxiety and pain about like all the stuff we could be doing and fear of missing out and all of that I've done a really good job this year of not doing that. And so I decided I'm going to stay in my lane. And so I gonna go all in on advertising, so
We launched the DFY creatives, very painful three months of just building all of that stuff out and all the systems and processes breaking. And then now we have a system that runs basically without me. And we're launching like 400 ,300, 400 creatives a month, something like that, with three designers. And so we're building on more designers and building out the front end process. We have we started with zero templates, we have 160 templates now. So it's like, at least that investment actually multiplied what our core operating is, you know, businesses as well as acquire new customers and increase the value of all that. So this year, I've done a phenomenal with it.
Joe Troyer 10:40 Yeah. That's awesome. I love how you've attacked a couple of key areas in the business, they became new, new opportunities for you that you got excited about. And that obviously got buy in from you. That kept you interested in the business because you're right, I mean, those those distractions can cause lots of stress unneeded where you feel like you should be doing all these different things, when really most of them don't even need to be done from the onset and could just be trashed and you'd be much happier. So well done.
Nehal 11:14
I was about to like launch stuff like do affiliate campaigns in the in specific markets that I don't know anything about. And I'm like, man, the actual way to do that it will take so much time to make it remotely valuable. So thank God and do that.
Unknown Speaker 11:33 Thanks for tuning in to show me the nuggets. If you've been enjoying the podcast and find our content helpful. Please visit our apple podcast page, hit the subscribe button and leave us a review. Join the whole team have been working hard to bring more value to the show. worth the battle go a long way in helping us make the show better and reach a wider audience.
