The RIGHT Way To Look At Your Business (Assets)

Transcript

Joe Troyer: George says, “You’ve always been a proponent of owning your assets through PaperCall model, et. cetera. Where do you stand as it relates to that with retargeting, PBC services, et. cetera and how would that work?”

Joe Troyer: Yeah, so good question. So George, I still think that at the end of the day you need to look at your business in terms of assets. Far too many people in the agency space don’t. I just gave you guys an example with multiple niches. If you’re really going after multiple niches and you’re getting every customer by happenstance and you don’t have proven prospecting methods, is that an asset? No. It’s really a liability. When you go to sell your company they’re going to look at that and they’re going to be like, “Yeah, this isn’t good.” Your evaluation is going to suck.

Joe Troyer: For me, I look at assets differently now than I have. I look at my prospecting method and me being an expert and my company being an expert in a niche as an asset. I look at my prospecting method that works and that I can pick up and I can drop in to a business. That’s an asset. Then from prospecting and a system to take that person from a prospect to a paying customer, that’s an asset that I can drop in to the business. Then my service delivery, like how we actually get customers results and that service delivery can be lots of different things. You can craft your own. Don’t be limited necessarily to thinking that that can only be things that I talked about. That can be whatever you want. For me, it’s Google search, because that’s where I’ve always been, is a very Google search focused company. For me, it’s because I don’t want to have to convert a visitor. I want the visitor to already have intent and be ready to do business, not me to try to have to convert them for a prospect.

Joe Troyer: I don’t think that you can get a customer that’s closer to the end of the buying cycle than through google search. That’s why search for me is huge, whether it’s PBC or it’s Google my business or it’s SEL. That’s why I love search.

Joe Troyer: Your package and your service offering could very much be PBC, it could be search, it could be maps, it could be a combination of that, it could be retargeting, it could be Facebook ads, it could be some type of geo-conquesting, it could be email marketing, like folks you could fill that up however you want. But that service delivery is an asset. You’re figuring that out, that becoming an asset, is how I would look at it. But then after that you really have retention as another piece of the business that’s an asset and that’s how I look at it.

Joe Troyer: So how do you [inaudible] and how do you retain customers? How do you make them feel like you are always on the bleeding edge and that you know what’s working and those things are being implemented in to their marketing campaigns? Because that’s how you keep customers. That you’re going to bat for them and that you know what’s going on. Who knows the number reason why agencies lose customers? What’s the number one reason why agencies lose customers? Do you guys know? Indifference. Indifference.

Joe Troyer: So what that means is they just don’t understand what you’re doing for them. Your communication sucks. They don’t know if you’re really helping them or hurting them. They don’t know what kind of time you’re investing, what kind of results you’re getting. They don’t know that you really care. So at the end of the day retention is a huge, huge play. I think that that’s an asset that you need to leverage as well. Okay?

Joe Troyer: I think that we just went through four or five assets that you have in your business, but they are systems, they are processes that really build up your business. Now I get that that’s very different than PaperCall and you owning the website. I get that, but the whole business becomes an asset when you have those systems and processes, because you’re building this thing in a way that you can build it, scale it, and ultimately if you’d like to sell it. The business is a sellable asset. At the end of the day I would say 95% of agencies, social media agencies, coaches, consultants, marketing agencies, whatever you want to call our category 95% of us don’t start with the end in mind and that’s exiting and having a business that’s worth something, so we never build assets in our business ever. That’s a problem.

Joe Troyer: So I love your question George, because it’s like you used to be so obsessed with building with PaperCall, now you don’t talk about that so much. You’re kind of in a different head space. This is how I look at it, but that doesn’t mean that I don’t do PaperCall anymore or I’m not interested in PaperCall. For me, if you look at my YouTube channel, you look at the content in the YouTube channel I’ve done a lot of content on PaperCall lately.

Joe Troyer: I just sell PaperCall differently and at the end of the day, that’s a sentence that I say a lot too, at the end of the day I focus on selling PaperCall now to my best customers. Not my brand new green customers that don’t know their ass from their elbow when it comes to what is a lead, what’s lead quality, what does a lead cost, all of those things. I want to build a great impression out of the gate. I want to build a relationship that is going to last the stand of time with that business. I want them to value me and I need to build a big average customer value with that customer. Leading I found with LeadGen or PaperCall is not the right way to do that. At least how all of us had been selling PaperCall before.

Joe Troyer: If you want more info on that there is lots of training on that on the YouTube channel of me talking about PaperCall and how to sell it. You can do a quick search in YouTube for best PaperCall training and you’ll find some of that for example. I’m sure if you did some searches like how to sell PaperCall as well you’ll find my videos ranking all over YouTube for it.

Joe Troyer: In that scenario you can still build another set of assets besides the four or five that we talked about. You can then build websites for PaperCall that are focused on the best of your customer base. When I look at my last PaperCall agency that again, was built very quick, scaled very quick, and was sold, a quarter or so probably of the revenue came from one customer. I’d rather have a whole lot more of those customers than have to deal with every Tom, Dick, and Harry when it comes to PaperCall. It’s just more complex. It’s a different scenario. There’s no benchmark. There’s no comparison. So if they’re not educated it just becomes my fault or it just becomes your fault. It’s just different.

Joe Troyer: I believe that these days build your business, verticalize, build your business, and then if you’d like to by all means add a PaperCall component at the back end of your service offering that is your big ultimate upsell. The big package that everybody can buy. That’s where you’ll make the most money. That’s where your best customers will buy as well and you’ll have one percent of the headaches that you would traditionally with a PaperCall business and you’ll get paid to do it the entire way. You’ll build a seven figure agency the entire way and then you’ll have a seven figure PaperCall business versus just a seven figure PaperCall business. All right, so that’s like you quite literally can build two businesses that way in the same amount of time.

Joe Troyer: George S., does that make sense?

Joe Troyer: Good man.




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