#128: A company that helps you automate your profits, isn’t making profit.
The Founder Podcast
Chris Lee
5 • 1.4K Ratings
🗓️ 23 October 2024
⏱️ 80 minutes
🧾️ Download transcript
Summary
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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Transcript
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| 0:00.0 | So the name of your company is profit automation and what I'm looking at here on financials is an unprofitable business is that right? |
| 0:07.6 | Yeah, yeah so far. I'll be honest like looking at your site and listen to your videos it's a little confusing |
| 0:16.0 | So would you say the reason why you haven't spent money on paid or done affiliate marketing is because you just don't know what you're offering? |
| 0:24.0 | Yeah, I have spent... |
| 0:26.0 | You don't know what you're offering or you don't know how to package it? |
| 0:29.0 | Yeah, I don't know how to package it yet. |
| 0:32.0 | I mean when you ask me what my biggest challenge was I don't know what I'm selling |
| 0:35.8 | and I'm just gonna shoot you straight if you're good with that. |
| 0:38.8 | Hey everyone today we have a special episode with Andrew Schultz. |
| 0:45.0 | Andrew is a buddy and entrepreneur that has an offer that helps increase |
| 0:50.4 | marketing for SAS companies in today's episode. |
| 0:53.2 | We dive deep into what is holding him back. |
| 0:56.0 | We look at his financials. |
| 0:58.0 | We look at his marketing and sales strategy, |
| 1:00.8 | along with a few different personal things that are limiting him on this episode of next level pros. |
| 1:07.0 | All right, Andrew, thanks for making the trip. |
| 1:09.0 | Excited to have you. |
| 1:10.0 | Excited to be here. |
| 1:11.0 | Yeah, man. |
| 1:12.0 | So, you know, we've got a bunch of information here about your business. We've got appreciate you putting this all together. |
| 1:20.3 | Excited. So you're the founder of profit automation correct awesome awesome can I can |
| 1:27.1 | I point out the the funny aspect about that |
... |
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