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SFBW19 – The Importance of Proper Measurement Within Digital Marketing for Crypto Companies

My name is Jamie McCormick, a managing director of Bitcoin marketing team. It’s going to flick through this very quickly here as well, Who I am been working in crypto since 2014 um. In terms of how I got here into the crypto space, so I classically trained in marketing – remember the Marketing Institute. I worked for 12 years in the article games industry prior to getting into crypto, specifically in virtual currencies and then five years in blockchain as well.

I ended up designing primarily because of advertising fraud. Three tracking and accreditation systems did one and article games have one in Facebook and then a generic platform as well, and we’ve integrated the tracking and accreditation methodology that we use in to over 10 crypto projects as well. I managed about 12 million advertising across this, so while you’re here um just to run through kind of the topics that are going to be talking about.

So we’re going to have a look at the smart approach in terms of a marketing plan. The importance of measuring how modern, tracking and Accreditation works some of the different challenges that are there to measuring the pitfalls. If you’re relying exclusively on Google Analytics the benefits of effective tracking a few examples, what happens when tracking goes wrong and then we’re going to have a look at a real-life example of a conversion funnel and specifically, how measurement improve that so in terms of being smart? For any marketers in the room, probably familiar with this, it’s an acronym for a specific, measurable, achievable, realistic and timely within digital marketing.

Taking a smart approach, that’s a cryptic company really measure all of the different activities that you’re doing to see what’s working. This is good and bad, and it’s really important that you tailor this against your specific KPIs. Now every type of project is different. If you’re selling a hardware wallet, it might be ecommerce sales. If you’re doing an exchange, you might have to do onboarding process trading trading volume and then there’s various different types of KPIs that you have and what this lets you do then has really build specific tactics in relevant marketing blogs for your different audiences.

There you can measure them, so you can really find out what’s working driving traffic to your website, into your conversion, funnel specifically through your conversion funnel and on to sales, you want to have it so that it’s achievable with your resources, skills and budgets. It’s realistic in terms of your expectations against your company KPIs and that you can find your audience in the right place at the right time with the right message now, when you combine correctly implemented tracking and accreditation, you can see things for their true impact, so good About you know not every advertising campaign is going to be brilliant.

Not every advertising campaign is going to be poor. You know often you’re going to have situations where you have some good, some bad. You might have say 100 publishers sending you traffic from a particular advertising network, but there’s only actually three or four of them that are really generating most of the sales that you’re getting in there as well. So once you can see, what’s good, you can focus efforts.

There once you can see, what’s poor, you can cut it off and redistribute that budget around then as well. So in terms of measuring you know anyone who’s using digital marketing. It is one of the most measurable activities that a company can do and you need to have your tracking in place. If you don’t have tracking in place, you can never really measure anything other than at kind of a generic overall level as well.

So when you’re trying to do digital marketing, tracking and accreditation, you need to have your platform configured. So when traffic is hitting your website you’re adding URL parameters, so people may be familiar with UTM tags like feed into Google Analytics. You can add a lot of costs and values onto these as well. These need to be fed into the link prior to being sent to your website or to an app store as well.

Once you have that in place, then you need to be able to take that data feed it into your own user registration database and then pull those reports into a marketing report which is limp, lined up with your KPIs and then. Finally, once you have it, you can act on that report and we’ll have a look at this. So knowing what’s good is great because you can focus budget there, knowing what’s bad lets you avoid wasted, spend so, if you’re running an advertising campaign for $ 10,000, you should know after about a thousand or 2,000 told us, whether it’s actually going to work or not, And if it’s not working cut it and move it move the budget elsewhere.

Also having the data as well has a lot of applications beyond it. You can find problems with your conversion funnel you can find some strange behavior, that’s going on anomalies. You know in article games, we found all sorts of products. A product design, you know, might be specific points within a game that were deep into the game that were actually broken and in a conversion funnel in the example will show later on.

There was two points that we’re losing over: 60 % of the user is going through. So when you’re dropping a lot of money on campaigns and they’re, not really going the whole way through, that’s going to cost you a lot of money as well. Now, once you can see what is working and you can fix it, you can focus and improve over time. So in terms of modern tracking and accreditation, you know, overall, your traffic is going to be mixed up from a couple of different sources.

So you have your organic traffic, which is going to give you a baseline, that’s coming in, so this is coming in from your SEO. This is coming in from any media that you’re doing in terms of peor. You’ve also, then, got traffic, that’s being driven from your communications. So this is your blogs, your social media posts and then you’ve got your advertising traffic than as well. Now I know our hosts ears were podcasts as well.

So, equally, you can use promo codes where you don’t have a link to measure and link it into this sort of a methodology as well. Now. The key thing to remember here is, if you don’t tag communications or advertising activities, you’re, never going to be able to measure them after the fact, it’s very, very, very hard after somebody has registered to then try and find out where they came from. So if you add the information when you’re sending it whether it’s through Google AdWords campaign, whether it’s through a ad campaign with someone like coin Zillow or coin traffic, podcast social media posts, you can do that in terms of P or obviously pure they strip out.

Quite a lot of the links, but you can use timestamp information to pin a cross-reference when traffic came in and link that back generally to particular types of activities, and especially when it comes to communication. Measuring, like we’ve integrated this with several of our clients of community management teams. So when they take kind of a unified approach to measuring activities, they can say: okay, well, we’re working across Facebook, we’re working across Twitter, we’re working across medium, we’re working across YouTube and what they can find then is well.

Twitter is actually getting us five times. The amount of traffic Facebook is getting us a lot, less mediums, getting us a steady amount and they can use that then to kind of repurpose their time in their effort. So they spend less time on the blogs that are giving them less results and they focus more on the ones that are so in terms of some of the challenges that you have to measurement as well. Now I’ve managed a number of marketing teams prior to getting into crypto, and human error is one of the big ones.

Now going back to my games career, we had about eight different people on our team. None of them were trained to the same standard weed people in from South Africa. We people from Ireland from England, Italy, Poland, Russia, Germany, everyone was digitally marketing qualified, but no one had the same training. So we really had to give that standard training to the entire team so that they could do it as well.

I blocked plugins really caused a big issue, so you’ve got the likes of brave where you’ve got default are blocking coming in. So in this particular event for SF BW, we were running campaigns with brave and because of adblock and because they were reliance on Google Analytics. We found it very very, very hard to actually measure the results. We can see the traffic coming and it was very hard to cross-reference that, because of this in terms of script, locking plugins it’s the same approach, you’ve got cookie blocking as well so say.

For instance, with here we had to you know you had a an e-commerce tag or a user ID that was being set by Google Analytics, and this has been shared into the Eventbrite and that wasn’t being passed at some point because of cookie blocking. That was going on now. Also in many cases, you’ve got advertising blogs that won’t or they can’t provide optimization data. So if you have a network that you’re talking to – and they won’t either give you a publisher ID or a website domain for the traffic, that’s coming in, don’t work with them.

You’ve got no way to optimize it and also, if they’re doing that they probably have something that they’re trying to hide as well. You’ve also, then got under reporting if you’re relying exclusively on third-party analytics platforms. So, generally, in non crypto space, you might have a 10 20 % discrepancy between analytics data and your own database encrypter that can be up to 40 %. I’ve see people more privacy, conscious people using more adblock and and so on.

Now that feeds into relying exclusively on Google Analytics, so we’ve worked with lots of clients when it came to analytics often they’re set up in terms of there’s a tracking script set up on the page and that’s recording, but often they’re, very often misconfigured. You don’t have event tracking setup, you don’t have conversion goals set up and it just makes it very difficult for you to read them as well.

As we said, there’s underreporting up to 40 %. You’ve also got a very separate at separation of analytics from your underlying databases. So, if you’re running an exchange, you know your exchange database is all of your information there. You might not necessarily be feeding it straight in so analytics is always going to be sitting on top now, if your analytics is showing less, then your real database, that’s normal.

If it’s showing more something’s wrong and again it’s misconfigured. If you don’t have on sorry, if you have on tag traffic as well, this can, combined with your organic traffic, can really skew your stats and really, you know the whole points of tracking is really building two different things. You know you’ve got the John Wanamaker dilemma, which is half the money I spent on. Advertising is wasted, I don’t know which half by doing tagging you can see exactly what it is and then you’ve also got the period or principle, which is the 80/20 rule as well.

Now, when you get tracking right, it lets you see at a very holistic level. At all of your marketing communication activities side by side in one report, so this can be your own team, stuff, organic traffic so coming in from pure stuff coming in from third party agencies and everything else, and you can measure them and I’d like for like basis. The approach that we’ve always taken has meant that you’ve got one report that you look at from your own data and then you can reconcile that against 30 or 40 different reports from platforms and see if there’s an AMA lease there as well.

So if there say they’re measuring lots of leads and you’re, not that’s one thing: if they’re measuring lots of traffic and you’re, not that’s another thing there as well. Now, once you have the tracking in place property, you can identify positive traffic sources and really focus your money and your time and your effort on these as well. In some cases, you’ve got it’s very hard to get volume and quality.

At the same time, and often what you’ll have is you’ve got an overall blog and within that you’ve got a couple of traffic sources, but generally over and over and over, are bringing in safe bets. So once you can identify a safe bet and traffic source, you can focus your budget there and maximize that out. You can identify negative traffic source, so these are ones that are bringing you in nothing they might be bringing in spent, they might be bringing in users or registrations, but they might not be going the whole way through your funnel and you can filter them out.

Now. Often, what we’ll see is you have a blog where you have some good traffic sources and then a lot of bad ones. So in one case we’re running a campaign with the clients they had a base. I think 60 different publishers that were sending traffic into the campaign two of them those publishers were generating 80 % of the traffic and spent on that. So when we tried to you know the other fifty-eight we’re bringing in lower volumes and they’re bringing in registrations, but when we cut those two specific traffic sources out, the whole campaign improved spend dropped, but the conversion rates all went up, click-through rates went off, and revenues Came up and the oral I came through from that as well.

So really you know it boils down to saving money. You know you want to save money on marketing spend also when you map out your conversion funnel and again, we’ll have a look at an example of one of these. In a moment, you can really identify bottlenecks in your process, so we’ve worked with lots of teams where the developers made the conversion funnel that they thought was okay, but in reality it wasn’t the most intuitive for end users.

So, by mapping this out mapping at every single step, looking at ratios between them and finding out what was working and what wasn’t we were able to identify, drop out points, some small, some big. So once you also have the product as well and you’ve identified that there’s a problem, you can identify barriers to product usage. So in a lot of cases you have to fully go through a funnel before you can use the platform and if you’ve a barrier there.

That’s stopping people getting into it. You need to be able to improve that there as well now development teams, all the ones that I’ve worked with know of data. You know the only thing that will get over an attitude in terms of oh, I built this and it’s great. What’s the problem with it? Yes, you did build it, but there’s a problem there. The data is telling me the problem. It’s not me. It’s there’s! Actually, a problem there, that’s there as well now, once you have it and you’ve got the recording in place, it’s very easy to quantify the changes.

You know you put a fix in on a particular day. You’ve got the stats all the way up to the previous day and then, from the day on you can see the improvement if it goes up great, it’s going to make your life a lot easier, the next time you’re looking for problems if it goes down or There’s no change, you can roll back and look at something else, and really what you want to do is by building this approach and really mapping every single traffic source against your KPIs.

You can look at the metrics there. You can find the certain traffic sources have higher metrics, so we’d often see you know, say with an affiliate. You might have an affiliate that has very low volume, but they’ve got a high click-through rate and a high product usage, and that might be coming from a texts post or some information about it there as well, whereas doing banners. You know you’ve got a lot more volume, you got a lot more traffic, but the quality is very poor.

Now, equally, when we look at say some of the crypto ad networks that are there, the standard banner sizes that are there have very victory rates, but some of the custom html5 placements that they have, which are much more prominent costs a little bit more. But the kicks your rates are five six seven times better and when we kind of measure that I you’re paying on a CPM that makes a big difference.

So what happens when TAC tracking goes wrong? Firstly, you can fail to identify systemic problems within your product design. It’s buried there, people don’t look at reports or databases in a lot of cases there and they just continue working away on something there as well. You can wait finite marketing budget on activities that are generating no or poor results, and they also bring down your overall numbers.

You can waste a lot of team effort, say if you’re have a communications team, that’s working across six or seven different blogs and you’re, giving equal effort to them all, but there’s only three of them that are generating what you actually want. You know you can save a lot of time and stress and hassle for them just focusing most of their time on the three that are working in terms of skewing stats.

If you have a lot of traffic coming in or you’ve got a load of poor results. This can really skew your stats and you can’t kind of change that then, and you can really focus on traffic sources, which you know you have kind of situations where you’ve got middling ones. You might have users that you’ve got decent traffic coming from a particular publisher or a keyword, for instance, but they’re only getting halfway through the conversion funnel and repeatedly there as well.

So while it looks good if you’re looking at the first KPI, which is an initial registration, but you look at say, KPI for they’re, not getting past that point there as well, and sometimes you might focus a lot of effort in time and money into those campaigns. Because they look good from their initial KPI, but they’re not actually going the full way. Also, what can happen is, if you take, you know, a broad sweep approach.

You may have a marketing blog. Like the example I gave earlier on, where you have one or two bad parties in there as well, and you cut the whole blog because you’re getting rid of those one or two so being able to pick out and pick and choose and really see, every single Traffic source compare them like for like and then surgically remove the one or two that are causing problems. That makes a big big, big difference there as well.

So it’s kind of seen the wood from the trees. Also, you know: we’ve had situations where you’ve got a lot of ad fraud. This could be amplified because, if you’re focusing on the right the wrong areas, you can have unauthorized incentivized traffic. You know faucets are kind of the bane of the crypto industry when it comes to advertising they’ve got and by the elements in terms of the onboarding, but generally you’ve got a lot of odd for that’s, going on and they’re from humans now coming on.

To kind of a real case example for a conversion funnel, so we have a client sees in the crypto finance space. They’ve got a complex seventh set formal and you had to get through this before you can use it so, starting off we’ve the traffic this had to hit one of their landing pages, and then we qualified the traffic with the information on this sent as well. They then had quite a long ball t-step registration process.

They they’re not to activate their email accounts. They had to set up two-factor authentication yet to enter in some personal data. They had to go through the KYC process, which everybody loves, and then they had to accept the program terms and conditions, and then, after that point they could get into the platform and use it now. This is similar to an exchange, but there’s a lot of platforms and crypto space that have something similar to this as well.

Now we implemented tracking with these guys a year ago and we’ve put tens and tens and tens of thousands of leads through this system and this approach in this methodology. Since we’ve been doing this as well and we were able to map out every single one of those steps, look at the ratios between them all as well, and then work with their teams implement the improvements. So in terms of what we did, we had the landing page, so we redesigned their landing page.

They were sending traffic to the homepage. We built called a sock or a dead-end road landing pages, and then we got a nice design that we were happy with. We did a B testing using Google optimize to kind of see which ones were best performing, and then we read at the traffic and focus the traffic into the pages that were working best with the registration funnel they had about 12 or 13 different input fields that People have to fill information in.

We really just search for those like what do you actually need, and that was about 6, so they could still put that information in monster in the platform, but during the registration it was that we also reorganize. This was a bit more intuitive for users as well in terms of the email activation. So one of the problems that they were having was a lot of their activation. Emails were getting hit by spam filters, so we got DKIM authentication and this improved email deliverability.

We also rearranged the subject line, so it was cleared. You need to click this to continue and that brought up between step 1 registration and step to email activation numbers by 6 percent. In terms of the next step of the personal data and the KYC, we work with them to rearrange the process and also they had to kind of re engineer some of the elements with their kyc provider. But once we did this, you know they were losing in 52, sorry 48 percent of people weren’t peak, passing kyc.

They were just getting to that step, looking at it and going no. This is too complex and at the end of doing this as well, that went up to 75 percent, so we improved the numbers by 35 percent just by reengineering that also what they had a two-factor authentication step. This point here was causing a lot of problems. They were losing over 30 percent of people. So if you do the maths here, you know you’ve retired some people coming in.

They were losing six percent at Step, two at Step: four, they were losing 30 odd percents and then it stepped five or six they’re losing 30 percent there as well. You know the funnel there was losing because of its design over half of the people that were going through. Now we had to work with a marketing team, their product management team, the development team. But overall we did it led to an improvement of 40 percent of customers gone through the process and from the same spend and the same activities.

We brought their sales up by 20 % as well. We also then caught the blogs they were using by 50 %. So that in weed less overhead time effort whole shabang there as well. So that’s the end of the presentation. We have a booth inside in the hall we’re offering an heiress free consultation and a chance to win a nice bottle of Irish teens whiskey here as well. So if you want, if you’re interested in having a chat about your project and tracking an accreditation we’re more than happy to have a child with you next door, so thank you very much.

Everyone for your time and attention appreciate your listening. Sure hey. Does anyone have any questions, so I’m black and blinded here, so I can’t see no fair enough. The same approach you can map in serve any sort of yeah. It does so we learned this in articlegames. You know, and article games had a very complex. You know if people get to register, they had to download six or seven gigs, which you couldn’t track.

Then they’d have to login, go through character. Creation play the game, go through all the products there as well. So the same approach works for the onboarding process, but then equally it works for applications as well end to end so cool okay. Thank you very much, oh okay. So so the question was what what programs, what programs you used to track user behavior analytics yeah? So the approach that we’re doing can integrate in with any of those visualization tools or analytics it’s more methodology that feeds it straight into your database.

So there’s a bit of coding: that’s required at the start, to get it integrated in your site and then usually what we do is we’d have sometimes use a Mongo database, some people using Splunk some people using SQL once the data is in there. We structure the reports and that can feed into any sort of visualization tool that you have so the approach that we’re taking there’s no like analytics pixels anything.

It’s just there’s a methodology that once you get it in it’s in there and then you can then use whatever tools. You want to use whether it’s a CSV report or an SQL makes panel whatever. It is actually visualize that data okay, we’re going to have to leave it there. Thank you so much Jamie

 

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Online Marketing

🎧 How to Become a Franchise Owner with Giuseppe Grammatico | Influencer Networking Secrets 🎤

There are always positives and negatives surrounding franchising, and that’s really at the heart of what I want to get to. But I wanted to start off with a little bit about you and your own words. You know I do the bio when we start the interview, but I always like to these things that the guests knows that I don’t know.

So, let’s start with a little bit about your background. You know you mentioned Wall Street, you mentioned being a franchise owner. How did how did how did what’s the story behind becoming what you are today great Paul thanks for having me, I am really excited. You know. As far as the history goes, I’m a first generation my parents were born in Italy and I’ve always aspired to be a business owner.

My parents owned the restaurant for over 40 years. I had worked in that restaurant and parents always said you know what you need to get a college education. So I pursued my undergrad and eventually my graduate degree worked for some of the larger companies out there, such as UPS and JP Morgan and after experiencing corporate America realizing the industry was great. I learned a lot in financial service.

It just wasn’t the best match. For me, it was, I felt like it was more of a number than that anything else. So, after my you know being in Wall Street learning about investments, I decided to go to business ownership. So I took a look at some existing businesses for sale in my area and I decided also to take a look at franchises and since they had such a great proven system, I didn’t have to kind of recreate the wheel and put some information online and a Bluebird, not a franchise consultant almost 15 years ago, had contacted me and we went through the process took.

I would say about almost a year at most to do my due diligence since I was working going, back-and-forth commuting to New York City and after my due diligence, I decided on a franchise here and it’s been great. It’s been 13 years of business ownership and the part I kind of make everyone laugh about is the day after purchasing the franchise I kind of went back to the consultants said. You know what I really enjoy the process.

How do i? How do I become a franchise consultant and he had a kind of a you know. Excuse me a chuckle and said you know it. We could definitely explore that opportunity down the road, but you know run the business for a while learn about business ownership firsthand, and we can explore that opportunity down the road and sure enough that was in 2007. I purchased. My first of many franchises leads us to today and now a franchise consultant so know took a little you know took, took a while definitely gained a better appreciation of what a consultant does.

But I definitely love what I’m doing and I’m here to help in any way possible. I’m glad you did I’m glad you started off that way. Giuseppe and the reason is, I think, a lot of entrepreneurs. I’ve certainly been guilty of this. I share this with you know, with with my clients and people that I work with, there’s just really no shortcut if you’re going to be in the consulting, if you’re going to be in any kind of thought, leadership position, there’s no shortcut around the hard work that You have to go through to have the expertise in the first place and I think a lot of people really want to skirt that.

Somehow, and and that’s one of the reasons I don’t claim – you know the title of business coach or something like that, because I don’t feel like that’s – that’s really something that I can legitimately say. Oh, I’ve run a business, you know for X amount of years and and that kind of thing, so I’m really glad you put it that way, because it’s a great it’s a great starting point, particularly if we’re going to talk about people who are you know, maybe On the fence about jumping into business ownership, you know, but but so I actually do want to drill on that a little bit, and that is to say, if you knew, if you, if France, I his ownership, was your first experience in business ownership.

What was the, what was it like to to springboard from that into the understanding you have now I mean: how long did it take you to become comfortable as a business owner? That’s a great question, so I helped to manage my my family’s restaurant, so that was so. You had some experiences there with managing people hiring firing dealing with financials so with the the franchise. I was involved in her that a few are I was involved in.

It took a little bit of an adjustment period to you know. Now, I’m investing my own money. This is my. This is my sole income going forward, so there was a few month adjustment of just trying to figure it all out. Luckily I was with a great franchise system, so everything was put in place. It was a newer company, so we were at the time developing new new ways of streamlining the process from billing to taking care of customer.

Maybe that wasn’t fully satisfied. So you know I come from an environment of much larger companies where you’re giving a smaller task. They’re saying, okay: this is what you’re going to do every day, you’re going to sell financial service products to this part of the country, whereas now you’re, you become a jack-of-all-trades, and I took me, I think it took me a little bit longer because I wanted to Be an expert in all areas I wanted to.

You know the accounting I’ve done accounting before this was a little bit different, so I wanted to explore every opportunity. I wanted to go out and work with some of the other franchises since I was a master franchisee. So I got some other franchisees in our territory, so my approach was very hands-on because I wanted to know the business inside out. I think it gave me a better appreciation of the overall business and really helped me to grow the business and to put people in place that could run the other business on a day-to-day mmm-hmm.

So then this goes over over about a period of 12 years. Would you say about maybe halfway through that finally had all settled in and you were just operating like a well-oiled machine, or did it come sooner or later than that it took several years? I don’t remember the exact year where we hired a general manager to take over the business, but for me it wasn’t that the systems were in place. It was more of a trust factor.

You know hiring finding that right person, you know, we’ve had management, asked to find someone that could manage the entire business and not just one part of the business. So it took a few years once we found that that person, that person actually was hired as a sales rep for our company and after speaking with them and knowing his background, had a lot of management, experience and sure enough.

A couple months later, we ended up hiring him as a a general managers to run the the entire business. I was still involved, but I had him dealing with a lot of the day-to-day questions and counting that that comes up. You know I like this just sends me off on a on a complete tangent, but it it’s funny. You should mention that, because recently, on a personal note, I’ve been exploring the concept of manage of stewardship and management versus ownership as part of my spiritual life, and I and I just you know, I really, I really think in view of what I read every day.

I think good managers have got to be harder to find than good owners. Would you would you agree with that as a sort of a rhetorical statement, not altogether true, but you know true a lot of the time good managers so hard to find somebody who doesn’t own the what you what you put them in charge of but handles it Like they do, I agree with that, because you’re looking so with the manager you’re looking for someone to run the day-to-day business, there’s that rust factor, you know, there’s no black and white.

This is just your role. You’re just handling one thing: you’re handling multiple things, and you know I was part of a smaller company that was growing, so you have to learning into that right. It’s not just this is the way it’s going to be every day is, is you’re going to start out here? Have your calendar filled and then end up at point. You know at point Z, will say from A to Z and today: you’ll have your your day plan that and then something will come up, and so you have to kind of adapt and say: okay, I’m going to I’m going to reschedule my day or maybe push My sales meetings to later in the afternoon just to address a customer that has a concern, but, yes, I would agree hundred percent, it’s the management or even stepping back employees.

Finding good quality employees is crucial to your business. There are some very strong franchises out there and, at the end of the day, some some are going to be more involved to help you find those key employees and some are just going to more or less give you a job description that you should use to Find those employees, but the employees, the the management extremely important, not every owner – is going to run the business the same way.

Some well-managed managers, you know more of a semi absentee ownership and some are going to be involved in the day-to-day and just delegate certain tasks to certain people, but extremely difficult to find good quality employees – and you know when you find them hold on to them, make Sure that happy take care of them and so that they stay, and you know at the end of the day you want. You want those employees as you grow, to bring people and just like themselves kind of like a franchise company.

They find a really good franchisee. They wan na they kind of want to in a way, I jokingly, say, clone you and find laws apply themselves yeah, yes, yeah. I want my employees to you, know, attract and bring people just like them, so makes my life a lot easier and just makes for a great overall working environment. Well – and that goes back to the whole – and I I’ve got it the questions gadget we will, but this just brings up a fascinating point.

I’ve had this discussion with a couple of the previous guests, and that is that the friend of mine Ron, Karrueche who’s, a consultant here in the Seattle area, said you know everything you do in your business has to further the vision and the the unique value that You bring to the marketplace and, if you’re not scaling off of that you’re not going to scale, and I think that I think that’s what you’re getting at there.

The franchise is looking to clone themselves because they’ve got a successful starting set of principles, visions, values whatever their and then they look for people who want to replicate that and right down to the lowest level employee. A good manager is going to do the same thing. So great way of putting it absolutely so I’ll get to the next question now now that weird now that we’ve we’ve we’ve tackled your intro and mined it for gold, and it’s been good – it’s been great so far a vague perception I would have my you know.

I think I mentioned to my dad was once in a franchise group. It was in Southern California, it stood up for a little while and then collapsed, and the CEO who was also the the majority owner was a great. I mean just a fantastic salesperson, so he could sit down a business owner or somebody of some degree of means who could invest in a franchise and he could just take a talk him into it. You know he could get them and he could transfer that enthusiasm.

So well that they would say you know this. This looks like the way forward, but it was the Peter Principle. The classic you know the guy should not. The guy should have been in charge of acquiring new accounts. He should not have been in charge of running the company, but he was the majority shareholder. So who was going to stop him now? Would you I mean? I don’t know that you pay attention to this, but would you say there’s a lawful lot of people in your industry kind of like in any other industry, where it’s it’s too much push and make the sale and get to the deal and all that and not Enough thinking it through and actually identifying, is this the right fit? Would you say that’s common in your industry as well? You know, I’m sure you know, as with any industry, you’re going to come across, that you know a lot of people looking to own a franchise.

They get excited, they get excited about a product, so sometimes it’s not even the sales force they’re just sold because they had a sandwich or a slice of pizza at a certain franchise, and that’s that’s the franchise they want. So the way I would answer that is, you know when you’re dealing with people sure I’m sure it happen. But ultimately I think I see from the candidates and people I’ve worked with and just friends and family.

You know throughout the years as people get excited and they invest or purchase a franchise for the wrong reason is okay. I can. I can even take a step a step further. So when you’re Frank choices is I’m an independent consultant with Fran choice, they don’t run since 2000, one of the innovators and what we do. We have 70 consultants total that that work for work with Fran choice, Fran choice. Our back office will actually bet that you know there’s over 3,000 franchise companies and we worked with less than 200 companies out there and why we do that is our franchise.

We’ll take a look and make sure that the companies are stable, that they’re growing, that they have great validation. You know they don’t want fly-by-night companies that just started. You know the put together at the franchise disclosure document in contract two weeks prior times. They definitely like to bet and make sure they’re dealing with some solid companies, and the reason I bring that up is not every franchisee is, is equal right? It’s not it’s not created exactly the same.

So there’s. Definitely some really good things that a lot of the franchise companies have put together, but ultimately, as a investor in a franchise, you want to make sure that fit is a good fit for you. So you are at the end of they. After working with someone like myself, I’m going to put you directly in touch with a franchise company, so you’ll be a with their franchise development person, their VP of franchising, and they will.

It’s almost like, like a two-way street. They’ll they’ll do a little bit of an interview figure out if you’re a good fit for the company, but you’ll also be interviewing that see if it sounds like a good fit. So, there’s a lot of a lot of things that that come into play, and I know I’m jumping around a little bit but kind of it’s the long answer, but it’ll cover all aspects through you, I mean when you work with someone like myself with a franchise Consultant and the reason I work with a consultant is you know we don’t I almost don’t even care about the actual franchise itself.

We kind of put that on the back burner. I want to learn about you. I want to figure out Paul, you know Paul. Are you a you good match for owning a business in general and you’ll say? Well, what do you you know? What do you mean could match them? I’m contacting you about a franchise or a small business and I’ll say well, a lot of people will get into it for the wrong reasons. Moon, you know they they’ll lose their job, they were, they were downsized.

You know the company’s going through a merger which, unfortunately, I’m coming to they’re three community. Last three companies prior being a business owner. I went through a merger, so so they’ll they’ll dive into it thinking the grass is, the grass is greener and I’ll push back a little bit and say the grass isn’t always greener. It’s not a good fit for you, let’s figure out if you’re doing it for the right reason, so we’re having a one to two hour conversations before the any mention of franchise.

More of learning about yourself learning about goals, activities hobbies any anything, you’re interested in figuring at the peace of being a good fit for business ownership, and once we get past that you know a so we’re working together, I can’t work with everyone right if they’re, if They’re not what I mean by that is, if they’re, maybe not the best fit for business ownership, I’ll give them my reasoning.

What we’ll talk it through? Sometimes maybe I misunderstood something, maybe maybe we we had kind of a aha moment as I call it and I’ll stay in touch with them. You know and say you know, maybe things will change, maybe give it a little bit more time. Give it a little bit more thought and maybe we’ll talk in six months to a year, so we have those conversations I’ll do I’ll put together a monthly newsletter that I’ll send out monthly or quarterly so I’ll.

Get that for me and then I’ll hear back from them down the road for the people that I feel are a good fit and we’re in agreeance, and we move forward we’ll sit down in and once again, not look not actually looking at a franchise say like An actual name brand well we’ll sit back and say what are you looking for, so we’ll look at attributes and characteristics which are how many do you want to work seven days a week, if you want to when you wake up in the morning view vision yourself Getting dressed and putting a key in that door and open up a location, maybe in a shopping, mall or office.

Where are you more inclined to stay in your pajamas and and go onto your laptop every day and not have to leave the house so we’ll go through multiple characteristics and only after figuring out those characteristics? I create a fully customized model. You know from my from my experience from our conversations, whet went and I’ll send them their model and say this is your ideal franchise model what it should look like from there? We would make some recommendations, typically to or through franchise recommendations.

I’m going to. We don’t even get into brands or discuss that until or just even you know, we don’t even talk about. Is food the best fit for me or fitness, we’ll figure out that model and really hone in on what you know, what type of business you’re looking at and then we’ll figure out through my research and due diligence? What are those brands that best fit that model? And you know with that being said: the behind the scenes stuff is also let us you know, we may find a brand that fits your model to a tee, but you live in Georgia and the whole state of Georgia is sold out.

So we’ll have to go to plan B and maybe look at another concept. That’s in a similar industry and or mention are you available? Are you open to possibly moving to the next state or the next city, or you know, whatever territory, we’re taking a look at so there’s a lot of back and research that we’re doing to make sure find not only the right fit for you, but also is There, a territory and availability in your market – hmm fascinating.

So so it sounds like to me, on average at least that falling in love with a certain brands, product or service is not the best reason to look at going into franchising, going in well being a franchise owner right, you’re, better off remaining just a happy loyal Customer maybe getting a job with the franchise but not owning it yourself, necessarily well what 100 % thought you know from experience, you’ll see people that maybe they had a specific brand in mind and it just happens to work out.

You know we’re not saying it’s it’ll. Never work, never yeah yeah, but it’s you know tough talking to some under some other people in the industry. It’s one of the biggest pitfalls for failure. You know people will just be so in love with the product, and I said you could be in love with a product, but not after she owned that restaurant or owned that whatever product or service the business is in so yes, I highly recommend you know being Open kind of starting clear, we call it a clean slate in our industry and just keeping an open mind.

I asked that as a favor, that’s one of the first things we talk about and if there is a particular brand that you just love and really want to consider we’ll put that aside and we’ll definitely bring that up and see how it falls into the model. Because it may just be, it may end up being a perfect fit for them, yeah yeah! No, I like that. I mean it’s so um not so long ago. I had this wonderful physical transformation and lost a whole bunch of body, fat and weight, and now I’m on the Saturday I’m competing for the first time in men’s physique and all along a lot of people have told me.

Well, you should start, you know your own training business. You know you should start your own fitness consulting her and I’m like. Oh hell, no, because I already know right III know from just anybody that I meet people I network with people. I talked to that. I am singularly driven the way you know like I mean you cannot keep me out of the gym and you in and you would have to force-feed me food that is not beneficial to you, know, maintaining low body fat and having an excellent physique, and I like To you know, stand there in a pair of shorts and hit these you know poses that.

Make me look like I’m on the cover of a magazine or something, but most people don’t like that stuff and most people, don’t you know hate going to the gym, love eating food that you know packs on the pounds and are extremely self-conscious and don’t want to Be out there on stage, you know wearing almost nothing and that kind of thing, and so I immediately made the connection and said I this is, this is a passion, but if I go out there and try to spread this, be the Evangel for this, and you Know get other people to do it and and and charge them for it.

I’m going to. I just know enough about the industry and enough about the average New Year’s resolution to say no this. This would this would turn me off of fitness if I turned it into a business, so kind of a similar principle, I’m observing there. Yes, I agree I had am just something probably to know about me. A lot of people don’t know about me in college. You know you start, you know, there’s there’s information overload on the internet and you start hearing people saying follow your passion, you know what do you enjoy doing every day? That’s what you should do and I’m not saying never to follow your passion.

But at the time I was at a big article game as a kid and you work with some nut smaller companies out here in the East Coast and did it for about six months and after six months couldn’t couldn’t stand a articlegame and stepping back and and And now I’m knowing what I know now, this is many many moons ago I turned something I enjoyed upon my downtime that I enjoyed to relax or after work or after after college after classes to a job and it kind of just lost it kind of just Lost lost interest completely, and so I I spin it the other way and say find a find, a business that will give you the freedom to do and follow your passions in your hobby.

So if we can find your business that will free up your nights and weekends and allow you to take a week off every month or every quarter so that you can go to travel over so layer games are to spend extra time at the gym. Why not you don’t have to actually own a business? You know in the fitness industry or in the article game industry, so something I’ve learned the hard way, unfortunately, but definite gain a better appreciation overall.

So yeah definitely now that one absolutely I mean that’s that’s pretty much what Arnold Schwarzenegger did while he was becoming the world famous bodybuilder. Was he had a side business that he ran when he wasn’t in the gym so that he could be in the gym and do all of the things that he did? You know he just he didn’t have to worry about how he was going to pay the bills, because he already had a couple of mail-order businesses that could be done piecemeal and for a couple hours a day.

And so you know he before he even became a silver screen superstar. He was already you know a millionaire plus he had all this prestige from winning all these titles, and that was what he enjoyed doing in life and so for me same thing. One question I wanted to run by you you’ve sort of touched on this already, but I thought of a couple of while I was still in the insurance business. I did. The online surveys for a couple of large corporate household names in insurance.

State Farm was one of them and they rejected me has the right kind of candidate, and I don’t know if state, for if those type of insurance agencies qualify as that quite the same as franchise, but it is practically. It certainly strikes me that way. You know you take on their brand and all their branding and logos and corporate practices, and you know you subject yourself to their corporate governance, but even I mean this was this was a guy with you know, four or five years by that time, experience selling insurance And I’d done very well and you know, would regularly field offers of recruitment, or you know people prospecting me over LinkedIn and that kind of thing.

So I looked back at that, though, and I totally agree with State Farm. I would have made a terrible State Farm agent because I’m I’m a rogue, you know I’m Kirill guerrilla marketer. I don’t do stuff according to their. They have I’ve had enough friends who are State Farm agents to know that they’re there box, so to speak, that you have to fit into would had driven me absolutely berserk. So, together with what we’ve already talked about, do you get? Do you get a fair amount of people who fail to consider the limits they’re going to place on themselves? You know subjecting themselves to creative in functional oversight.

Do you think they’ll do a lot of people that you that you end up talking to leave that out or do they generally come in and they they’re aware of it very good question that all a lot of that information comes out in our consultation, which is Typically, the second call, typically, I like to keep them at an hour and a half to two hours really dig deep to find out about them and then in there you make two two determinations number one is: are they business ownership material? In that you know? Are they just not? Are they doing it for the right reasons and number two is franchising, a good fit so obviously franchising.

I don’t really call it an industry in that it’s a it’s almost, you know jokingly I’ll, say a business in a box. It’s a business that it’s a structure of the system. That’s been proven and created for you, so I tell everyone: if business ownership is the right fit and you want to be in the cleaning business, you can own your start, your own cleaning business or purchase a cleaning franchise. You know so when I ask them, are they if we take a look at a specific franchise and I’ll say these are the services the franchise has to offer you? Okay with that and I’ve had people say, that’s great, that’s I don’t want to do anything more than that and then I’ll have other people say well, I want to branch off and do you know wearing cleaning, but I also since we’re at the office complex.

I also want to do oil changes and detail cars, and and and just things that are just complete outside of what the franchise has to offer. So when people want to add and have a lot of that additional flexibility and be able to offer additional services at any point in time, I may step back and say you know as a franchisee, you need to follow that their system and and sell the product Or sir, is that the franchise has created that you had it messed it in.

If you aren’t planning on doing all these other extra things, maybe we should look outside of franchising and I have a good friend of mine who could be able to help them out outside of the franchising industry. So mmm franchising, isn’t you know we may find that model or the put together that franchise model of franchising may not always be the best fit and you’ll get a lot of that just from what they’re looking for you know another way to approach, it is, if You want it to offer additional services you may want to look into if you have the capital, maybe two different franchises.

One is a mobile service that maybe services your car, the oil changes and detail, I’m just making this up, showing them your second business. Maybe commercial cleaning so that’s also an option, but I I want to be clear that if you’re investing in a commercial cleaning franchise you’re going to be filing that product or service, there’s not much more you’re going to be adding. So some people love the structure in that they can focus on.

You know the four or five revenue streams or versus worrying about how many more to add and some people just want to keep it open and just say I want to sell food. I want to clean, I want to offer tax services, they want to do it all then I’ll, just kind of step back and say: maybe franchise membership may not be the right fit for you. Yeah no yeah and made me think of it used to drive me crazy Liberty, Mutual.

When I worked there, they had their corporate marketing department, you know and everything is sanitized and branded and you can either fit the box. You can’t well. I couldn’t and the funny thing was you know they. I couldn’t get cooperation from their marketing department. It wasn’t that they were telling me. I couldn’t go out and market the way I was marketing. They just told me: you can’t get our branded materials and are in the kind of support you’re looking for in order to do it the way you think it should be done right and I think there’s there’s some degree of shortsightedness to that.

But at the same time you know made it is their company and they’re certainly at liberty to do that and and say you know, you know this is how we’re going to do it, and this is what we believe the marketplace wants and we’re not going to, And we’re going to limit that, and so I think I just think that you know that’s one important thing to consider. What would you tell somebody, though who’s listening to this thinking? Okay? Well, maybe maybe I should start looking into a franchise.

What’s the? What do you recommend people do as preliminary research, maybe even before getting on the phone with you? I do yeah that’s an excellent question so before even speaking with me, because you know – and we can we’ll talk about this in a little bit – but you don’t have to go through a franchise consultant, you can contact the franchise company there right, we’re there and instead Of looking at, as I mentioned, the product or service, so I want to get into the food about money and get into you know.

Tax services, like you just mentioned, do love us a little bit of soul-searching figure out number one. If you can see yourself as a business owner, talk to other business owners, franchise and non franchisee, if you have a friend that maybe owns a specific franchise and have them, you know shadow that would be step number one see if they can see themselves doing the Exact same thing, and it doesn’t matter the actual business, it’s just seeing what that owner does on a day to day basis, buy them dinner, buy them lunch of drinks and shadow them for a day or two a week, and then, once you establish business, ownership sounds Like it may be a good fit figure out what you want that business to look like, and you know, don’t don’t try to figure out what I’m going to make the most money at just figure out.

Okay, these are these are certain things I like. So I always start off with money aside, we’ll just we’ll figure out do I do I want to go to a physical location everyday, or do I want to work at home off a laptop that alone will narrow down your your your search over offer for a Franchise you’re out, as I mentioned before the attributes, do I want to deal with a lot of minimum wage employees and seven days a week, and you know where my business is constantly open and food costs and things like that rising.

You know kind of you see. Food costs go up, it’s kind of like the stock market, they’re going up in demo, and you know when I tell people, does that sound of interest to you and they say no and I said well, I basically just described the restaurant industry, yes and right away. They’re, like that’s a very, very good point and I leave in a Lehman I’ll, even ask them and say: well, you know what is it about a restaurant that you that you enjoy and they’ll say well, there’s a line out the door they have to be killing It and I said well so you’re, basically looking for a product or service and high demand, so we kind of step back and figure out what that line means because if you know there’s certain franchises that will sell their product at cost just to bring people in The door hope it hopefully up selling them a new product or services naming any names, but so so going back figure out if business ownership is right, figuring out what your day looks like you know what you, what you anticipate doing, that they basis if you’re, you Know you can run a franchise and have a manager run it, and if you just love sales, and that’s all you want to do you take over the sales role, you can just show up once a week for an hour and make sure everything is getting done And manage managers, so that’s the part you should really figure out and it doesn’t hurt to go a franchise Expo or a show or go online.

But it’s information overload. I I always say knowledge is not power. It’s it’s applied, applied knowledge. It is truly power and what you do with that knowledge, so mister got your hands on a copy of my book before I released it, because that’s what I said wide knowledge is everything man, knowledge information is cheap, yes, no, and – and if you talk to I Used to work with a business coach and he said believe it or not, he goes.

I don’t know if you know this, but 99 % of the stuff we’re going over is free online. You can access it right now, and I said you know why the heck am I working with you then, and he said well, because that 1 % that’s not available is me actually helping. You apply it and holding you accountable to make sure you’re actually following it. What a sales pitch I go! That’s uh! You definitely sold me on that.

So, needless to say, I had signed up with him and we worked together for a while, so but yeah it’s that there’s no right or wrong. I, as a franchise consultant, can help you get through that process. Maybe a little bit quicker, we’ll figure out the business ownership aspect. We figure out those attributes we’ll take it one step further and say through frame that will narrow them the number of franchise.

We should look at because many of them don’t meet our our criteria. Many of them are brand new or they’re, not growing, or a lot of their lot of their franchise owners are going out of business, so frame choice will bet and help with the process, and I didn’t I didn’t tell you the best part, but the best part Is our services or 100 % free there’s, never a contract, there’s never a fee for our services, and you know many people say well yeah.

You do this because you love it. I mean. How do you get compensated? I absolutely love it. I’ve been successful in my last franchisee ventures and business owning multiple businesses. We do we do get compensated, but that compensation is like a real estate agent or a headhunter where we’re paid by the franchise company themselves so bright, red new after the after the agreement has been reached and all the betting has been done and the due diligence Has been has been covered yep, that’s it just a bit, so there there’s no there’s no sales, there’s no pressure.

https://m.youtube.com/watch?v=NXNCpywl73Y

If you decide to to invest in a franchise great in many cases, it’s just not a good fit in other cases. It may not be the right time and we’ll stay in touch. You know, are any general questions you have. I apply, you know I’ve worked. I basically apply all my work experience, so I have the experience of being a franchisee and franchisor. I’ve been on both sides. I’ve worked for corporate America, I’ve been downsized, you know through a three mergers.

The last three companies that work I’ve worked with I’ve had the two-hour commute on the train and two into New York City, and it just one day. I said enough is enough. I am getting back in to believe it or not. People think I make this up and it’s the god-honest truth February. 2Nd of O 7 is when we, when I decided I’m going to sign that that contract directly with the franchise company and I’m going to move forward as a business owner and three days later, we found that my my wife was expecting.

So we had 10 years. Look, it was, I guess, the the definitely some great motivation and I’m not saying everyone should go out and do that right. It just happened to one way for it to happen. That’s so that’ll put some fire under your under your under your seat. There were small, multiple fires. Yes, absolutely so you know I’m here to help I I was part of a newer franchise, so there was pros and cons where there were certain things being developed, which I choose nice, because I got to give a little bit of feedback and some areas took a Little bit longer to grow them and that’s fine as well.

You take you, take the pros, there’s some pros and cons, but I learned a lot ie from my experience. I can definitely add value. I can definitely narrow that in your search and hopefully speed up your search so that if we rule out business ownership, you didn’t waste years and years of calls and and going to franchise discovery days and possibly going out of business to help you out and we As I mentioned, there’s never a cost for the service, and not only do we assist with the figuring out of everything we just discuss on the call, but I will also make a recommendation.

You have a few partners that could help with funding, because many people that will call us will say I have you know 50,000 or 100,000 Bank, and I said well, you know what else do you have to invest and they said well, you know that’s all. I have I just have the money to bank to find out, they may have a million dollars in a 401k, and our investment partners will take a full up. They take a holistic look, they take a look at just about everything and figure out.

Okay, well not sure if you realize that, but you can use your 401k or retirement assets for your first business or for any business and use that to purchase the franchise. Startup cost next off the salary without any type of any type of penalty. And coming from the investment world, I always told people or was taught never use your retirement assets they’re going to want to wait and use those. You know it use that for retirement only and over the years I said okay.

Well, that makes sense, but as a franchisor business owner, you know this is a much more active investment. I’m going to be actively managing my future and maybe taking a hundred thousand out of a 401k that was in a mutual fund, which is, let’s face it. Passive investment – it’s just sitting there and you’re hoping to make your whatever you’re making as far as returns sure. But why not? You know when I grab some ownership and say I’m going to take this $ 100,000 and I’m just using a number as an example and apply that to myself myself invested in myself in a business that I have full control over and not have to wait too.

Read about what the holdings did on CNBC or whatever, whatever station you’re reading, so it’s taking control, I’m not, and I’m not advising everyone to use their retirement assets, but where it’s not dim yeah, we could definitely give you some additional options as to how to actually Invest in the franchise or maybe keep your job for the first year, while you know managing someone, that’s running your business for the first year, while you transition out of you’re out of your job, so we’re able to bring some really good people to the table to Help out and basically give you all the options available to you, mmm mmm, that’s good.

The last thing I wanted to cover here, Giuseppe is: have you got a story, maybe more than one that you could share real briefly. If somebody you’ve come into contact with who’ve, you know, they’ve got some painful lessons. They’ve had to read, had to learn as a result of not consulting with you or somebody like you with Fran choice or any other franchise consultant before getting into it. To you. Have you met people and have you you know collected any short stories like that, then maybe you could share one or two of them just to give people sort of an illustration of the the painful lessons they’ve had to learn right.

So some of you know – and these are more shorter lessons but number one a lot – a lot of people don’t know that franchise consultants exists myself included. When I, when I was first looking at franchising, I actually fill out a form online. They didn’t understand exactly what the company did and I was was put in touch with a local company and that’s how I started speaking with a consultant and then sure enough, you know, became a franchise consultant.

So what I’ve seen what I’ve seen in the past? And this is through some family who’s for this specifically with with family, is they have fallen in love with a concept and they went full full steam ahead? You know went to the bank first and was reading the figuring out loans and things like that to find out the territory was completely unavailable and in another case the franchise was not available period.

They were just not registered in a particular state. So you know one thing that I do is: I am NOT going to show you a franchise that is not available in your territory or that may not be I mean I’m in New Jersey. We cover the whole country and there’s one brand that I truly love and we they’re not available in my home state. A friend of mine was asking about it and then just said you know we do all that that diligence for you so those there there.

Luckily, they’re not, I wouldn’t call them stories where they have lost lots of money. It was just more of they, they got their hopes up in disappointment and there are some friends of mine also that have went directly with this. This is another thing that came up. They went directly with a franchise company, they called them direct and purchased the rack, and I asked well, why didn’t you utilize the services of a consultant and they said? Well, you know I didn’t wan na, you know I figured it would cost more and, and that union said going back to our fees.

If we don’t charge any fees, the franchisor who pays us, they are not going to charge you more or less. When you bite the right, we’ll do that, so the the process is definitely, you know involving there. There’s a lot of work involved a lot of time saved by going through a consultant, but we will do all that back end research for you and to take it a step further. I am speaking directly with the contact.

It can be the owner. Typically, it’s the VP, some a VP of franchise development and that’s the exact person I’m going to put my candidate touch with so before the candidate. Has that intro call don’t know everything about I’ll, create a I’ll send them over a questionnaire that the candidate has the left for us, which covers likes dislikes financials, and things like that, and I always tell the candidate and send information over I’m going to send over That exact franchise model to them and say, I think, they’re a good fit.

This was there, and these are the reasons so they’ll have a full picture of them and on occasion the franchise company will say this. This may be a red flag or you know I think, they’re a really good fit and we talk it out and if we feel like it’s a good fit, I let the candidate know if they’re, okay with it, I send over the information directly to the franchise Company and they get a call within 24 to 48 hours.

Hmm football and they’ll get a a franchise disclosure action document, which is the actual franchise agreement directly sent to them. So the ball is rolling immediately. They already know a lot about the candidate. You know the the other, I would say this is not their experience, but a UH. Just a general pitfall is the candidate that the first time business owner just say, that’s looking to buy a franchise, they don’t they don’t know what questions to ask um.

What are you asking? Well, what kind of money can I make or what’s the royalty that that’s great, they can answer that, but what about setup and and how many employees you need, and you know the marketing spend there and all that kind of information they won’t. They won’t know what questions they’ll be given a lot of that information and the franchise disclosure document. But if you don’t know, if you’re not asking the right questions you’re going to make, I guess an uninformed decision or misinformed whatever you want to go you just you.

Don’t have the right amount of information to make that to make that decision. So I see that as a common theme. So I tell everyone you have nothing to lose, but maybe some time that you, you know maybe a few hours on the phone after the the first and second call but we’re here to help – and you know when I speak directly with the franchise company. Your name is going right on top of the list. They know you’ve been qualified, they know you sound like a good match.

They’re excited, you know, they’re excited to speak with. They want people that have been qualified, both as a good fit financially and they want to speak with. That. First is maybe a few hundred leads they may randomly receive through their website. Oh someone, Fran choice leads someone like myself. Sending over lead is going to be fully qualified. You know, we think they’re a great match and it just makes the process so much yeah yeah.

No, I agree I mean I I would rather have that one person who fits like a glove then a hundred names and phone numbers of people – I’m not you, know, know nothing about them. That’s that’s a ton, more work and yeah. You might get something out of it. You might strike a strike build in there, but I’d rather just get to that one person who fits the bill because that’s where that’s where the money is right, that’s where you get the eventually is the franchise or you know, you’ve got the right person who’s going To be is likely is to be successful, running that business and so that in the long term, that’s income that you don’t really have to work for all that much.

You know the way I perceive it anyway: you’re just you’re collecting those franchise, royalties and fees, and and that’s it yeah. Well, Giuseppe. This has been a wonderful conversation, I’m looking forward to seeing the audience reaction to this and and I’m looking forward to getting this into their hands it’s into there in front of their eyes and in their ears. It’s been great having you on the show.

If people want to know more about you or get in contact with you or learn about what you do with Fran choice, where should we send them? You can contact me directly. Nine. Oh, eight, eight, seven, three, six one, three, four! You can call or an airline people eat the tips nowadays, so you can call or text that number the email address is G gramatica. So I’ll spell it so long when it’s G G RA mm a TI, co @ Fran choice, so f, ra, n and the word choice.

Com definitely take a look. Send me a send me an email I’ll, be more than glad any questions you have on this. Podcast or article any general questions you have on franchising, I’ll, be more than glad to help and when I can guarantee you is, I don’t know the answer, I will get it for you and if I don’t specialize in that area, I do have someone that I Can refer you to so don’t feel bad, don’t there’s no silly questions any any any information any help.

I can be of definitely definitely give me a call all right. Well there he goes to simply grammatic. Oh thanks. So much for joining us on influence or networking secrets. Well, thanks again, I really appreciate it take care you too thanks for joining us for another, exciting episode of influence or networking secrets, please be sure, to hit like comment and subscribe and share this article. If it’s been useful for you with anybody, you know who might benefit also be sure to check out the show notes in the description below that’s where you can order a copy of ten secrets.

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Why I QUIT HIGH TICKET CLOSING ☎️

Ever I invested in the htc program, the high-ticket program of danlove, I’m in one with you about this telling you my impression on the whole program, how I feel about it, my review of the program. So you can read this article, but today I want to tell you why I quit high to get busy so here’s what happened, why I decided to become a high tech loser. I was looking for additional income in order for me to invest in the stock market, because this is really the one thing I wanted to do in the coming years.

Then I came across deadlocks program and I turned the program. I became a high ticket Cruiser. It was a seven-week program. This really is one of my greatest investments in my life because it really changed my view on money on business, on personal relationship and business relationship and how to how to behave in society. How to talk to people on the phone and not even on the phone without htc, most horribly destructive blog, would not have happened.

This is what really motivated me to start this YouTube blog. What really happens of the htc? I began looking for influences because you need an influencer to close for him or her, and it is not as easy as you think. Looking for an influencer, because you don’t have any experience in high ticket closing and when you’re conducting this influence, as most of them are looking for, experienced people, so you have to convince them that that you can do the job if they are looking for experience, you Should tell them that you are going to provide the results.

Results are better than experience of far better than experience, so this is not such an easy thing to do and I was able to find an influencer a few months later. It didn’t work so well, because amount of warm leads I was getting was not enough. If there is, let’s say, for example, SME no we’re, only six people are attending and you’re going to contact all these six people and talk to them are one of only one or out of six more of these going to buy.

This is, this is not something that is, and you have only one semi. No in one month, it’s not going to work, you need a good influencer which are a lot of these wobbly is coming and you don’t need hundreds of warm leads. If you have at least 10 warm leads and you’re able, to close – let’s say five of them in this model. This is a great thing. This is great. Let’s say you make a 500 where’s the loss for every warm lady, close five, you make 2500.

This is great in one month you have already paid for HTC for the HTC program. After this first influence I had to quit. I fired the influencer and then I came back to Mauritius. There was a lot going on and then later I began to look for another influencer in December I found out at the influencer we already went of the core we already win. It was something that really interested me. Actually he was working on Forex, but then he told me that in January he will contact me.

I already. I actually found other high ticket producers to work together with him because he did not he needed more clues and not only one. So I found other people to work together with him, but then, in January, when I sent him a message, he never answered me so some influencers, some people are like this. You can’t do anything about it. I had to forget this one. In February I found another in furniture.

This is my third influencer this one she did not have only warm leads. He had cold it. You have to do cold, calling it had something to do with restaurant marketing. For for marketing. For restaurants, so you have to call every day hundreds of restaurants in the United States, so you just call them and then tell them that you want to talk to the to the manager to the owner. And then, when you go on a call with the owner, you try to sell them the product and then tell that you will get back to them on another call where you can close.

That I made over 600 course call calls. I do not cross any one of these restaurants internally me. All the high ticket closures who are working with same influencer also failed to close a single prospect, a single restaurant, so it was not working so well. For me, I work for squeaks and then I quit. I actually built a team. I was at alone in the beginning, the first two weeks. I was alone and then I said it’s better for me to build a team because I call it a contract.

I could build a team and I could make much more money. It’s a hard team, so I built a team, I’m run interviews. I interviewed over 25 people and built a team of eight people. We were working together and none of my other team members also closed any prospect. They also work for several weeks and until something sometimes bad about what I did, because I brought people into a team and it didn’t work and I had to be harassed with than that.

I don’t believe in the product anymore. I can’t sell this product if you want to continue on a team. You continue on your own, but I was not going to be your leader anymore. Does this what actually happen, and then I put with this influencer, so I work we can say with. Will influencers to turn and then I realized something that it’s actually what I want to do. I had have the skill. Yes, I have the skill of a high ticket loser so going to be useful for me today tomorrow for the rest of my life, because I need to make calls every day phone calls.

I need to be because, when I’m going to be a billionaire, when I’m going to make to be making billion dollar jeans, of course, I need to talk on the phone to make this health this book here. The art of the tea business life is all about deals and a high ticket closure is all about closing deals. So you need to know how to make to have to close deals. It’s not just about on the phone, even in real life and you’re.

Talking to people the way you talk to people, I’ve learned a lot from high to get closing, so the skin is something that I will always have on me. It’s like learning to ride a bicycle. You always know how to do it, even if you are not personally rode a bicycle in more than 10 years, but I don’t want to do high-ticket closing itself. I don’t want to call to make all of cold calls or even warm calls or anything like this.

This is not a matter I want to do. I want to focus on stock investing, because this is what I do best. That is what I’m going to do in the coming. Yes, focus on stock, investing and then eventually right now on money for the people. Of course, here you can see how high calculating skill is useful, because I have to talk to other people how to make these articles. I have to tell these people to convince these people that I’m managing their money.

Well, I have the skill to manage the money but selling my skills to them. This is another thing you can be the greatest in the standard world, but if you cannot sell your skill, you cannot manage other people’s money and I’m currently managing over one hundred thousand US dollars for about 120 people. And, of course, I want to increase this number because the more money I manage in a moment I will make so high ticket to see here it’s a useful skill about the future.

Now I want to move into consulting because it’s better for me, if, let’s say, there’s a millionaire want to invest in the stock market and they want some advice, some personal training, about stock investing. Of course, I will be able to provide them this advice, but, of course, for a free consultation fee, and I want this to be high to get. I don’t want to give consultation for to everyone. I want to focus on only people who can afford my level of expertise, because I am good at what I’m do I’m doing and there is a fee for anything.

So I can make DT over these articles of free, but I can’t go deep in the details. It’s a different just because I want to have money. I want to be paid, no, it’s because it’s difficult to go into details on YouTube. So let me know in the comments. If you are high to get closer, you want to join high tech. A closing, if you have any questions about Heidi closing, because this is something I will highly recommend anyone even done on demand.

I am still a member of tandem and I read the live session every week every month, so it is something. If you have questions, you can ask me, have a nice day and goodbye

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Interview with Carla Nemr | Global Head of Business Development

Thank you for taking the time out to talk well, thank you for having me here. How are you I’m fine, good, good, good, okay, so Carla? I think the first thing for us to talk about is a typical day in your role. So what would a typical day look like for you? What are the kind of responsibilities that you’re doing on a day to day basis, yeah so so, via in the guiding to what I do are usually on on daily basis? There are a lot of may be passed and priorities that I should look into.

So I try to maybe divide the FASTA to different days or we even mix the reason. Why is because I look into a different market globally, so, starting off, like I develop individual plans with the county managers for each country or region that they take care of, and then I have also evaluates the market trends and provides the appropriate support to product development With you and of course I do provide some training and maybe guidance to the team so to also overcome some development issues.

Let’s say we do some weekly meetings or monthly meetings to discuss what challenges each market is facing in every county or region, and we try to find solutions for that as well together, I also so I’m just going to answer what you’re saying is that I’m you Actually go in with a tailored approach for each market so for the different country managers. You have to tailor it to the clientele there are in that country.

Yes, okay, so there’s a lot of work going in. Yes, of course, yeah! So that’s why we need to also always work together. It was you know everything when you, when you try to over look to a global market, you need to listen and understand every individual market. You know how you can approach it. You know because every market has different tradition, difference the culture different, try, a type of marketing tools, approach, etc.

So we need to always communicate together as a thing. So it’s a real Tyler, the pro yeah. It is in addition to that. I analyze the business strategies and develop improvement plans, so I can also provide the right support for the you know: the growth of the business. So we also, of course, when I gather all the information and the challenges or issues. So I also try to coordinate that with a management team to maintain as well the quality of service that we provide for every individual market and to maintain, of course, the budgets that we need to allocate for those countries.

So it’s about maintaining the consistency as yes correct. If we look at the technology side as well, I need today is also the IT department in order to maybe inform them about the latest technology that we need to provide for our their clients different. They also in every market. If you look at Asia, they they may be discussed about copy trading or even mena or a Latin America, so every individual market also is they need for certain technical tools.

So we need to always communicate with our IT department in order to provide the most innovative tools and products for our clients Wow. So that’s actually quite a huge scope of activity that you’ve got to cover. And what do you feel? That’s the most important thing for your team to focus on and what are your priorities to offer you anyway? What do you feel your priorities towards the traders? I believe there are a lot of maybe key points that I try to communicate.

It with my team, in order to provide the best service that we can, because at the end of the day we are the online financial trading company. So in that matter you are not offering a tangible product. So, therefore, you need to focus on the service that you provide to clients or traders. So the one of the maybe key services that we need to focus on is education is education, so in cooperation, of course, the marketing department we try to see.

Maybe each market also individually, what type of webinars they would look into educational webinars course. Also, we try to be offline as well, so we target different markets by going on on the ground being they’re present as well and provide them the educational seminars that they might require. So we have a lot of, for example, beginners traders that they need to understand. More that is about you, know the risk of this market of this industry before they get into that market.

So we try to provide them the most information possible for them to make the right decision in order to see whether it suits them or not. That’s for the education part. Now we talk about services. We need also to maintain the quality of communication with our traders. We need to understand the needs and requirements for them in order to provide the best service for those daters and then again, we look also for each market individually.

We do not provide the same service for all markets, because every market, as I said before, as a way a different way of approach, the first thing than your presence as well on. If you look at the technology part as well, so you need to be present on social media and therefore we have to look into how we present our services by providing the right information to our clients from the business development side.

We are active of social media, so traders all over the world can understand what signals vision is also can also get close in communication with the Wrights business development, whether he’s the county manager, the salesperson or the customer support. So we try to understand the need for each market and be there as well active on social media. I mean, if you want to reach the global markets, you need to be present there, so they need to see with who they’re dealing with.

So it’s really important to be active on social media. What images you are giving or representing the company and do you think it’s important that they have that accessibility as well to the company? So it’s more about the transparency, so people always kind of be in contact. Should they have communications more about it for immediate communication? Yes, they do nice. So that’s a that’s, a very kind of comprehensive approach that you have so Carla.

What I’m hearing is that a lot of emphasis is put on education and making sure the traders know what they’re doing so. What do you feel are the current needs of the traders and how do you make sure that your team caters to that? Okay? If we look at different type of traders, say, for example, we start off with the beginners or the guys that they want to learn more about ratings. They’ve heard they tried for some times and they want to learn more yeah.

So what my team does, or maybe the needs for the trader to start learning more about trading – is to walk them through basically the platform you do to understand more how to place a trade. What are there is that also they might encounter. They can also ask. Maybe about different type of technology on the platform that, if you could say like leverage, margin, etc, so those guys are there to help them walk them through from A to Z, then the trader obviously need to understand also the cost, so they do ask sometimes, if We’re talking also about advanced traders, they come and they look for.

What are the cost for the spreads? You know what’s the leverage that they can be entitled for now with the Asthma, so they need to understand how they can be converted to professional clients or not yeah. If they are details, what leverage their they get. So the team is to explain to them and maybe to walk them through the whole registration process. So every trader has its different needs and we make sure that every trader will find the right tool and services that they they would be looking for mm-hmm.

And what about tick well as a whole with regards the condition, so the spreads the leverage, the margin requirements, how does tickle to a plethora of clients with their conditions? Nowadays, I mean there is a lot of competition in the market and the competition market requires to be maybe the the broker that you should be getting or maybe offering the best lower spread, offering the leverage that the trader will look into it.

Also, the regulations, a lot of clients they would come and ask where are deregulated if it’s an FCA company or broker or if it’s a officer a license as well so check, may try it’s best to provide the most innovated products as well. So the more variety of products, the better for the traders to have more options in order to see how they can or maybe which products to look into and trade. They tried as well to have the best execution with this competition.

You need to always offer the best execution as well, in addition to the spreads of the low-cost of spread and the leverage that they would be looking into so and not to mention at the segregated accounts that the clients would feel more safe once they found their Money in order to place some trade, so those may be points tick – may try to focus on in order to be competitive in the market. So it’s kind of the fundamental things that you’re addressing in that case, so the the conditions that will allow them to excel and also the putting in place the procedures that will allow them to feel safe while they’re trading, bringing all the bases very good, very good.

So, with regards to the team that you’re the you monetarily work with directly, how is the team organized and how do you could you also talk us through the process of onboarding, a client yeah, so we have different. My actually team is consist of different departments. The reason why I have different departments is to try also to give like a customized service for every individual may be type of clients, so we have, for example, the activation department.

If you have partnership departments – and we have County managers and customer support yeah and not to mention also the technical analyst guys as well – that they provide educational, webinars and seminars to the traders, so once the client gets one boarded, we have an activation team that would Help the client to be to go through the registration process, starting from filling the form online, sending the KYC documents that I documents for the everyday market gets approved and then they’re ready to start just free traders to understand kyc what does kyc meaning.

It means that the doctor, the right documents for know your client, basically abbreviation of know your clients at the right documents for every trader in order for them to get approval so once they get the approval they get their account activated. So they need to be. You know approved from the compliance point of view. They have a distasteful registration form to help. You provide the right information about their profile, then the documents and then once the documents are correctly submitted, then that counts as a right to be approved.

And after that, that’s a there will be they did to funded his account and start writing nice. Okay, yes, regarding to the other departments, so we have also partnership departments with the partnership department focuses on maybe retailer search, think the idea or maybe partners. So the partners, usually they look into providing clients or maybe refer to friends or they would like to introduce business, but it’s they can either trade as well or maybe just focusing on and growing their businesses yeah.

So those guys that are they have some connections and it would like maybe to introduce them to tickles, so they are called partners or IDs introducing brokers, so those guys and a partnership Department. They make sure that every IDs that, despite that providing the rights, also information for the clients before they get embroidered, they also get some rewards from Dickman once they introduce their clients at say this to us.

You do and the track is dependent also they ensure that the ideas they get may be the right material, so they can ask in there from their side to provide it to their clients right. Okay, we have also the county managers, so county managers are mainly focusing on every individual market they’re assigned to allocate the to yeah, so they do the business development for that market. They study the market, they see what are their eyes approach for stickmen to guess in that markets expand the business there yeah, so they do analyze.

They look at the competition there. What are the right to products, services and marketing budget that we need get for that market and they come forward, so we came together, maybe build that business in the countries or regional they’re taking care of Wow. Okay, you try to always provide, and maybe listen through. Also, the traders, what exactly they need. I mean we try to provide what the client is asking for.

Yeah, I mean there’s no point of just focusing on certain things that the trader would never take into consideration while his focus is somewhere else. So you need to have a very efficient communication with your traders, especially if they’re advanced experienced traders, so they are the best people to hear feedback from in order to provide your onion improve to always services to the client and social media gives you those open blogs Of communication, yes, we do forth and through laxity yeah and I’m guessing that tool must trigger down into your team, so you’re encouraging your team to actually use social media to engage with their clients, to possibly open up more markets and to be a gamification blog yeah.

My team they’re quite active on social media. They try to always the present right image for each individual. We have also some information may be posted about the profits, the volume, the trading volume of the company every now and then because it’s been important for the traders who maybe to compare to compare signal with other brokers as well. So he can make the right. The decision where he would like to maybe invest response nice.

So could you tell me a little bit more about your team, so we’ve been talking about the tools that you’re using to engage with your clients. But how specifically do you organize your team and how do you structure the team and was the onboarding process like so when it’s someone first comes to a member of your team, all the way through to when they’re actually trading with you as a client. So my team consists of different departments.

The reason why we have divided different departments into different tasks: educator needs of each group by the clients. So, for example, we have the activation department. They are the first, the department that will be in contact with the client so that what the client wants. This shows interest of opening an account with us or they’re registering with a company. They get in contact with him and they try to accommodate his needs from a to Zed, so starting off from the registration form and then later to submit his documents as well.

So they walk. Will they walk the client through the whole process until he gets approved and he’s ready to open the account to find the right account as well for him, because we have different types of accounts, so he would be in contact with that account manager in order to Give him the right information to make his decision, which type of accounts and whether the client is approved, so he can start saving on the phone.

Okay, the other department would be. We have another Department called apart. So in the partnership Department, it is the partnership Department. They take care of all our partners and ideal, so we do also have a department that calls county managers Department, those County manager. They get involved more into developed business in every individual market right, so they look into, for example, Asia.

They look into Africa, Latin America. Maybe MENA region, so they try to study the market analyze, what the market needs and then they communicated together. I mean we communicated together, so we can see what are the right approach in order to expand the business in each individual country. Wow. Okay. Well, I think that’s we’ve covered quite a lot today and that’s probably all we’ve got time for so I’d like to thank Carla for coming to talk to us today.

It’s been a wonderful day and you’ll be hearing for some more of the tin wall team. Very very soon have a nice day bye,

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Start It Up – How to become an Instagram Influencer

Today we are going to talk about a very interesting business opportunity which is easy on the pocket and a lot of fun as a business. It is an opportunity to become an Instagram influencers and is a Chilean marketing business. So let me tell you, who is an Instagram influencer Instagram influencer is essentially a social media marketer, who has amassed a large and a very engaged audience and therefore can build a business around it influence.

This plays a vital role as intermediaries connecting consumers and brands with each other on social media through an authentic and tactical manner. Let’s understand how large is the market of Instagram influences today today? How people are buying is vastly different from what the way they used to buy about 49 % of the consumers before they would likely to purchase anything like a mobile phone or a product or a food product which is new or probably something that they are experimenting With would like that, it should be endorsed by a real individual.

The new multi ranked influences, as probably the sixth most effective, influencing their purchases on Instagram. Therefore, instagram has become a gold standard in influencer market. The overall influencer marketing industry is about 10 million dollars, instagram itself, as a platform has about 1 billion. Active users, 2019 and known saw about five million sponsored post views on instagram. Nearly 80 % of the accounts on Instagram are followed by one or the other business trend and in some cases quite a few.

More than 200 million instagramers visit business profiles every day. Now, if these numbers are to be seen in totality, there is a huge market that exists for influencer marketing to be. The first thing that you need to do is really to understand the niche that you want to be an influencer in. It could be your blogging niche could be anything across categories between from right from Beauty to the food, to kill awareness to a travel, stand-up comedy or any other category, that you would have good insights about or you’re able to blend your strengths and passions together.

The next thing you have to do is make an Instagram account. You have to ideally bake a business account an Instagram page. If you already have an existing Instagram account, convert it into a business account to be an influencer one needs to post regularly and that content has to be highly engaging first thing you should do is write an interesting bio, which is cool and describe your Instagram page About what you want to offer to your followers, make sure that you invest or if you don’t already know the art of good photography.

Visuals are a very important part of Instagram. So therefore, the aesthetics of your photos will make or break your post. The photos alone are not really enough. You need to accompany this with a lot of interesting, captions, relevant hashtags. You will need to use a lot of relevant hashtags with each of your post, along with social posting on your other social media like Facebook or Twitter or tumblr, or any other such account to drive better engagement to your posts.

You can ask questions from your followers. You can impulse – or you can just do some giveaways for your followers to keep them engaged. Once your follower base has become significantly large or it increases, then you can talk to brands about how you can monetize your page with a lot of other brand engagement for your followers. The initial investment, while starting a career as an Instagram influencer, is almost negligible.

All you need to do to get started is really have a high quality phone, which will have also a good camera. Any phone between 25 to 32 thousand rupees is good enough to start with. You can also join some platforms like dropper clan will be pretty horrible too, should use your Instagram posts. Paid promotions on Instagram are commonly used to build a community fast by getting good. Engagement will rest upon your content.

Instagram has a promotion feature which operates from cost per thousand impressions, which is CPM basis. This means that you will pay a specified paid amount on your post for every thousand people. Let’s see it. Of course, you will have to collaborate with other influencers and other key people on Instagram to make sure that you are able to gain for your profile is able to gain more traction. Grunts approach influencers for advertisement, promotions and paid partnerships influences also get filled on the pieces of per post on instagram handles if you’re an annual influencer, meaning that you have about 4,000 to 5,000.

Followers on your Instagram account and you have an engaged audience. You could get up to 2, these 3,000 4,000 per post at YouTube, as a micro influencer, with the following of more than 5,000, but less than 30,000 followers. You can get somewhere between 7 to 10 thousand rupees per post influences, who have over 500,000. Followers are paid anywhere between rupees 1.5 lakh to do that. Two-Piece third post, and if you have more than a million followers on your account to end a very active and engaged audience, you can pretty much come on any tries that you want.

So there is a lot of money to be made as an Instagram influencer. So why did you know how to get your act right? That’s all from us today at started. I hope you enjoyed the episode look forward to more such articles. All started like the article. Then don’t forget to Like comment share and subscribe. Our entrepreneur, India, hit the bell icon to get notified for massage articles.

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