4.6 • 1.3K Ratings
🗓️ 5 July 2024
⏱️ 18 minutes
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0:00.0 | I wanted to actually discuss your biggest marketing mistakes or business mistakes in the last 12 months and I'll discuss mine as well. |
0:07.0 | We really failed. |
0:09.0 | I would probably say the biggest area we felled. |
0:12.0 | With our ad agency N.P. Digital we went from pretty much |
0:15.4 | being in a handful of countries and when I say a handful India, U.S. and Brazil to then all of a sudden in roughly like a year period of time |
0:26.1 | we expanded a total of 19 or 20 countries somewhere around there I think it's 19 |
0:31.1 | and the exact number. And we started burning a lot of money, not like a |
0:36.6 | million dollars a year or two million, I mean like burning a lot like substantially more. And we're |
0:41.9 | not venture back, so we're using our own money. |
0:44.7 | I want to start looking at the economics of some of these things like I look at in |
0:48.7 | Southeast Asia. Wait you have you have business mistakes and marking mistakes. |
0:53.9 | This one's business mistakes, right? |
0:55.4 | Just confirming. |
0:56.2 | Yes, business mistake. |
0:58.1 | And we were a little bit arrogant because we're looking at our leads and |
1:01.1 | our traffic in these regions. |
1:02.8 | We're like, okay, if we take our closing rate in the US, |
1:05.7 | we divide it by two, we adjust the price, |
1:09.6 | the revenue per region, we started calculating how much money we can make. |
1:15.2 | And it just didn't work out. |
1:17.1 | Like in some regions, you know, their sales processes were different, Mike had to get involved, |
1:22.1 | fix a lot of the sales. |
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