What's up Chris. Hey Mo I'm super glad you can take this
call. I was hoping. That you could cut up one of
those banger videos that you make that I see on your website. I'd love to do that for you. What's your budget? I have a thousand dollars. A thousand bucks. Is this video important to you? I think it will be. If you do it. No problem doesn't solve for a
thousand dollars. We're trying to build awareness. No one's walking into the to the
store. Okay so how much awareness do
you want it to build. You know I'd like to have at
least. Two to three people walk into
the store. An increase of two to three
people. A day a day sorry a day. And so what kind of business
would that generate for you. Our average product sells for
about 100 bucks. So you're looking at about 200
to 300 dollars worth of increased revenue. Okay. So let's say 250. Split the difference. That sounds good to me. Time's 30 days. Right. Three days a month on average. What does that work out to be? That's. Seventy five hundred dollars of
new revenue for you. A month. Mm hmm. Does spending a thousand dollars
seem appropriate for seventy five hundred dollars of revenue
per month? It's more than 10 percent right. A month. Are you gonna do a thousand
dollar value every month? Maybe if you do this one good. I'm a little concerned. This is not enough money. And I'd like to share with you a
quote I love from a business philosopher. Jim. Rome. So it feels a little
disproportionate. Doesn't it. When you say that quote I think
it does? You can't just roll right into. You can't. I mean you do business. You don't want to. You don't want to overspend and
there's are you going to guarantee me seventy five
hundred dollars a month. I'm not saying that at all. I'm just trying to measure
effort versus result. Ok. When somebody comes to me and
they say I don't have a lot of money to do something? My first instinct is hey let's
not do it. It's not important. Would that be your instinct too? Yeah. Where else can you spend your
thousand dollars to make a bigger impact on your business? Because I don't wanna take your
money to do something that's not important. Is it important or isn't it? I mean I think it's important. Not a thousand other important. Don't break Mo Can you elaborate on what you
mean by not a thousand dollar important? If you look at the expenses and
things that you spend on personal and business. Where does that thousand dollars
rank in the things that you spend? Is it on the high end or is it
on the low end? Like how much did that
refrigeration unit cost and. How much of the AC? And when you went into new to do
the Polish floors What did you spend on that. And how did that have any
material impact on your business? You see what I'm saying now I do
and I saw the BMW parked outside. The five series the M5 and I
think you see what I'm saying that was really important to
you. So I find that in my my life and
my experience that people tend to spend money on what they
value. That mean that makes perfect
sense. Don't you think like. If you like a fancy pair of
pants you'll spend the money for that and if you don't you buy
the. Cheaper version. So when somebody comes to me as
I have a real business problem Chris and I want to spend a
thousand big smacker Rooney's on it I think I don't think that's
a real problem. And. Let me just caution you on this. I know what happens a lot of
times businesses like yours the other businesses produce video
and then we have video envy. And then we created just a great
ad to say like yeah we're keeping up with the Joneses. I don't know. That's good use of your money. Now in order for me to do this
properly. I'd probably have to spend quite
a bit of time sitting down talking to you about what the
purpose of the video is what your goals are and how it may or
may not work and if it's going to even be targeted to the right
people. That's going to take a long
conversation. But it would seem
disproportionate. The length of that conversation
for your time and my time to talk about a thousand dollar
problem. What would you like to do? I don't want to spend more than
that. Then you shouldn't but I'm not
the person to do that for you. And I would encourage you not to
spend that money. With anybody not just me. Would you like to do? Probably find somebody that can
do the video for a thousand dollars. That is your prerogative. Would you? Can you recommend anybody? Yeah I hear this a site called
fiver they could do it for five bucks. Thanks Chris. You're welcome. Best of luck Mel. So I think that's a very
advanced conversation when you taught me how to talk about
money. Yes. That was such a big thing but
it's just like for a lot of people starting out. It's you're so hungry to get
that a thousand dollars job when you're doing videos for 200
bucks and 500 bucks finding somebody comes and I think
that's where like going back to he says this is where we kind of
get the short end of the stick that we didn't have this type of
conversation and then we end up taking that job for a thousand
dollars. And now we're spending hours
doing revisions and really talking to not get into where we
really are. Ok. So are you saying to me how do
we go that I cannot accept? No I have to take it. Well I'm not saying you don't. I'm just trying to talk. I mean I'll play it like that
too. I'm just trying to tell people
on the Internet it's have an understanding because I think
it's great. Like you know somebody called me
today and they're like I found somebody that there's videos for
80 bucks. You hire him. That video is good. Let me know. Because all right I'll give him
plenty of work for me to do it. It's a minimum 1000 miles for
video He's going to be six grand. I'm like yeah or spend you're
eighty dollars and you can get whatever you want for that but I
can't help you with that. All right. I just know for other people you
know for them to turn away a thousand dollars. It's such it's a lot of money
for some of them but it's like. But it's things we learned from
the pro group as you got to have a runway to be able to tell
people No. But also being able to ask these
educated questions. Perfect. I will respond to that and then
Mo Ok. I think that you didn't have
that thousand dollars before they called you. You were gonna make life work
regardless. Don't fall into that mindset
like now just because the call I have to close the job that puts
you in a horrible disadvantageous position don't
feel like you have to do that. I have another way. If you had set the parameters as
Chris you can't say no to the client you can't refer them to
fiver or you must book the job. I've got another way to do it. Show them that Should we jump back in? Yeah. Ok. He didn't give me that
parameters. I mean I did oh let's do it. So we're not going to do it from
the beginning. Ok. It's just you want to spend a
thousand bucks right. That's it. Ok. What do we have where we add in
the conversation kind of out there like I didn't want to do
but you're like that's all I got? Ok. I really really don't want to
spend more than a thousand dollars. I understand. A thousand dollars is a lot for
you. I hear your concern. I'd like to propose something
else. Please. I'll do the video for you for
free. If we get the results that you
want. I'd like a percentage of the
results. Can we do that? No risk to you at all. Sounds fantastic. What's the percentage that
you're thinking. Well. We're talking about measuring
the difference between traffic and revenue that you get. Lots of things I can't control. So all they want to do is get
paid per new customer walks in your door. How about since you say each
customer is going to spend a hundred dollars with you? Let's go half 50 bucks. No risk to you. I take all the risk. And I rely on your honesty. What's. The hesitation. I'm concerned that you're going
to make. A banger video. All I do is make banger videos. I know I see them on the
portfolio bro facts big facts of facts. That's why I called you to begin
with. Yeah. And then. We're gonna get a lot of clients
in the door. And then I'm gonna be out 50
percent of that revenue. What if it exceeds a thousand? It's going to exceed a thousand. That's the whole point. I take all the risk. You know Peter Drucker is. I've heard of him All. Profit comes from risk. Mm hmm. I'm taking on the risk. Or you just pay me what I'm
worth. And you keep all the profit. What are you worth? 4000. That's the minimum. You need time to think. Now I was going to break. I was going to break and
actually I said yes you want to jump in what am I what am I
getting for 4000? I'd like to know what a banger
video consists of. Shall we be time later but are
we realistically now entertaining our 4000 dollar
budget. I'd like to put a non exceed
clause on the percentage that you get. So we're going back to the. No no no. We're not going back. I appreciate the fact that
you're taking on all the risk but I'm also wanted to be wary
that if if you get me a lot of clients that you're not banking
ten thousand dollars for one video because it might not even
cost you that much. Now I ask you something. If I can bring in a long line of
clients for you. You're saying please don't do
that. No not at all. I'm saying Bring me the long
line of clients. I mean but that's what you're
saying to me like please help me do this. But if it works so well I don't
want to pay you anymore. You just said your minimum level
of engagement is 4000 Right. Let's say that exceeds 4000. Are you getting paid more than
what you need? I see what you're saying. Yeah. There must be some confusion
here. I can say that the two options
that we have on the table right now is you pay me four thousand
dollars. We're done. You keep all the money from that
point forward. That's it. You just pay me upfront. Easy peasy. The other one is I do it for
free. But I take 50 percent of all. New net revenue. Because I'm taking on no limits
no limits. Or make you sleep better at
night. How about for the first year? Does that make you feel better? You're a wise business man. I can see that you're doing the
calculations in your eyes right now and you're doing the
calculations if this works you're going to bring in this
much money and you're gonna pay this punk kid this amount of
money so you probably think is a better and more prudent decision
just to pay me the 4000 It's your choice. I'm really like an our back and
forth here and you seem really confident these bangers that
you're creating. And I feel like you're gonna
give me more clients and it's gonna be worth more than 4000. So I'm going to take the four
thousand. Do that then let's do it? Ok. So I'm going to submit a
proposal to you. You sent me two thousand dollars
upfront and we'll get goin That sounds good. Done one thing always I had it. But I try and approach one thing
they think. Is for people just starting now? Yeah it's something that you
did. Is that everything's a
negotiation? Just because he proposed to you
that those 1000 dollars like it isn't mean you have to do
everything to there are certain expectations. Maybe they want a one minute
video. You could be hey I could do a 30
second video for a thousand dollars and I just don't get so
caught up in the fact that just because that's what they're
giving you. They're not meeting you at your
price you don't have to meet them at their deliverable. And you know what you propose. You know I think it's still
something very advanced or someone that's starting now. If you are you just kind of
getting you know yourself out there don't be afraid to change
the scope of the work. To meet you know something what
you consider is fair. Yeah. And that's where I'm going to
push this back. Ok. That's excellent. I love that the pro group is so
pro that they're doing the meta commentary on top of the meta
commentary We're just looking out for the. For the young for you know those
ourselves on the spot for that. You know mean everything is
being explained and I love the grounded conversation. I love the Metta commentary. This is like the you're watching
a movie and you're getting the director's commentary while
watching the movie as we're making the movie. That's how crazy this thing is.