Welcome to a new episode of Next Level Pros! In this episode, we're joined by Andrew Schultz, a budding entrepreneur who's navigating the challenges of turning his marketing firm, Profit Automation, into a profitable business despite its current unprofitable state. We'll dive deep into the issues holding Andrew back, including a detailed analysis of his financials and marketing strategies, along with some personal obstacles that are impacting his professional progress.
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Highlights:
"I mean, when you asked me what my biggest challenge was, I don't know what I'm selling."
"Your secret sauce is identifying what the problem is around their customers in their pipeline, so you can pull them into action."
"I will help increase your conversion, or I will add another 2% to your conversion, or you don't pay anything."
"I haven't done a whole lot of marketing or talked to a lot of people about it, so I find it hard to believe that you have enough data to say that this doesn't work."
Timestamps:
0:00:00 Profit Automation is not turning a profit
0:04:13 Describing the Business
0:06:03 Explaining the Lead Conversion Offering
0:08:15 Identifying the Biggest Challenge - Packaging the Offer
0:13:25 The Pipeline Crisis and how to fix it
0:19:21 Addressing the Perception of Free vs. Paid Offers
0:20:24 Exploring Performance-Based Pricing Options
0:25:47 Shifting from Scarcity to Abundance Mindset
0:27:08 Comparing Eliminating Downside vs. Eliminating Risk
0:41:00 Identifying Strengths and Weaknesses in the Business
0:48:30 Refocusing on Sales and Marketing as the Priority
0:55:47 Balancing Personality Types within the Team
0:57:41 Shifting Mindset from Home Runs to Consistent At-Bats
1:03:29 Overcoming the Need for Certainty
1:11:08 Adopting a Scientific Approach to Testing and Measuring
1:17:07 Final Plan and Closing Thoughts
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