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How many of you guys right now are currently struggling with cost per lead increasing? What about sales cycles increasing? It's getting longer to close a deal. If your lead cost is doubling and your conversions stay the same, you're on a sinking ship. What do you do when something you sell is no longer wanted in the marketplace? Do you just keep trying to sell it or do you got to pivot? Right?
Ladies and gentlemen, can you please join me and do it like nobody else can? Join me in welcoming to the stage Ryan Pinedo.
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Thank you. Hello. How many guys are here from Vegas, by the way? There we go. There we go. I am born and raised in Vegas, so I always love seeing Vegas people at these events, and I'm excited to share with you guys what we're going to be talking about.
So, real quick, um, how many of you are struggling to get clients right now currently? Show of hands. Who thinks it's harder to get clients today? Yeah. So, we're going to talk about how you guys can get more clients. Um, he already just did a great job of, you know, talking a bit about me, but just real quick, you know, as he said, I've bought and sold over a hundred million of real estate. uh founded multiple businesses, billion views on social media, married, three kids, got a fourth on the way actually any day now. Thank you. So, I'll have four kids, six and under. All right. So, for any of you guys trying to figure out how you're going to build a business, have a family, uh kids, all that stuff, it's completely possible. You just got to figure out how to do it efficiently.
So, right now, I'll ask you guys a question. Okay, this is just going to be a few of them. And by the way, you guys can just keep the uh slides up for them. How many of you guys right now are currently struggling with cost per lead increasing? Show of hands. Okay, you're actively marketing. Okay, a few of you guys. Anybody doing social media noticing it's getting harder? All right, there we go. What about sales cycles increasing? It's getting longer to close a deal. Yeah. All right, the last one. How many of your guys' offer conversion is decreasing? you're not closing as many as you used to. All right, these are the four common things I am seeing right now in with all my clients, my own business, all these things.
So, for me, I run multiple businesses, right? One of my businesses is called Home Run Offer, okay? We buy houses for cash. We've bought hundreds of homes, you know, we fix and flip. We buy rentals. We do all that good stuff. You know, just a few years ago, my cost per lead to get a seller to to raise their hand and say, "Hey, I'm interested in selling my home." was like 200 bucks. Today, it's 600. So, when your cost per lead triples, you can't really run the same business model. You got to switch it up.
Another business I have, it's called Wealthy Investor. So, we teach people how to invest in real estate. You know, this is a multi-eight figure business. And with that, I mean, it was 10 bucks to get a lead back in the day. This was just a couple years ago. today is 25. I mean, if your cost per lead doubles or triples from where it was a couple years ago, it it becomes really difficult to make money, becomes difficult to build margin. And so, you got to figure out like bad business owners will complain about it. Good ones will say, "Okay, what are we going to do to adjust?"
So, that's not the only thing. That's just kind of on the paid ad side. You know, social media wise, I used to get a 100,000 hours of watch time per month, meaning people would spend a 100,000 hours watching my videos every single month. It was like a million plus per year. To put that in context, that's over 50 years of viewing time per year. So, it's kind of easy to sell to people when everyone's watching your stuff, which is why building a brand is really important. But even for me, it's gone down. And I don't think I've gotten worse. I hope not, right? Like I think my content's actually gotten better. But what's happening is the world is more saturated, right? There's more content than ever out there. There's more competition. There's more of all these things. So, you know, just like transparently back in the day, this is back in what, 2023, you know, you can see there was over 1.2 million hours of watch time. And as time has gone on, it's decreased.
Also, sales cycles, I talked about this earlier, sales cycles are increasing. Meaning, we went from one call closes to months of follow-up. You know, it went from like, "All right, I'm ready to buy the thing. I'm ready to buy the service." But now it takes months. People have less trust, less money, and more fear than ever. Right? We live in a skeptical world today where you're being bombarded with ads. You're being bombarded with content. You don't really know what to trust. We don't trust the government. We don't trust influencers. We don't trust businesses. Nobody trusts anybody anymore. So, it makes it harder to sell in a world today.
And even in the real estate side of things, any real estate people in here? Okay, a few of you guys, right? Real estate deals take way longer, right? Properties are sitting on the market. Whenever your sales cycle increases, it's never good for business. It affects your cash conversion cycle. Okay, thankfully, you know, they just said today that they're going to drop rates, so this is going to be good for real estate. But yeah, cash flow becomes a major issue when this happens.
And then lastly, with offer conversion, you know, I was selling products for years that like they just don't work anymore. People don't want them. What do you do when something you sell is no longer wanted in the marketplace? Do you just keep trying to sell it or do you got to pivot? Right? Existing customers don't find value in renewing or upgrading. So, in the end, if any of these things are going on in your business, you're you're on a sinking ship. You just don't know it. If your lead cost is doubling and your conversions stay the same, you're on a sinking ship. If your lead cost doubles, you better figure out how to double your conversion or double how much you sell your product for. That's the only way to even keep pace. Is this being helpful to anyone? like we're getting a little technical, but you know, you guys sound like you're I know it's the end of the day, but I want to make sure everybody's good.
Okay, so for me, I just decided I'm like, look, I'm gonna have to rebuild. I'm going to have to start doing things a different way. I can't just keep doing what used to work. That that doesn't lead to success. What got you there won't get you here. So, today we made some changes and it's been pretty cool to see. I rebuilt one of my businesses from having no recurring revenue to over 700,000 a month in recurring revenue in just nine months. We flipped the whole script and it went from zero to or 700k a month. I cut my overhead by 50%. You know, a lot of you guys are hearing about AI. A lot of you guys are hearing about all these things available. We're using it. It's changed the game. And then I built a business with real enterprise value. So, we're building one to sell right now that should be able to be very valuable. And then just to prove this framework, you know, I actually launched a brand new business that has nothing to do with anything I've done with this point. It's actually a golf business, right? Any golfers in the room? Somebody said, "Woo!" All right, there we go. I love golf. I used to be a pro baseball player, like you said. I just love sports. But I decided I wanted to start a golf business because I saw an opportunity. So, I'll talk to you guys how I did that.
So, there's three important metrics that you guys need to analyze in all of your business. So, make sure you write these down. Number one, your lifetime value. A lot of you guys have heard that before, but this is how much your customer is going to pay you over the life of their journey with you, right? So, we want to get them to pay more with us, not just a one-time transaction. Two, what's my customer acquisition cost? So, how much does it cost me to get this person? Then three, what is the payback period? Right? If I put if it costs me um $1,000 to get a customer, how quickly do I make that thousand dollars back? The best case scenario would be I make it back instantly, right? But for a lot of businesses, they don't get their payback until months down the road. So, how do you make that short?
So, for me, I was just like, okay, if I know that those are the three most important metrics in business, let's make this very simple. Okay. If I have a unique offer, that's going to increase my LTV. If I get one core funnel, one good marketing strategy, that will lower my CAC. And if I can figure out how to sell quicker, it's going to decrease my payback period and allow me to make more cash more quickly so I can reinvest it back into the business and keep growing faster.
So let's talk about how you guys can create a unique offer. First from the customer perspective for anything you are trying to sell, you got to first identify what are your customers current problems. So you should spend some time literally in your hotel room tonight at your home if you're local and just start writing down all of your customers problems because there's they've got problems that they don't currently go to you for but they could. Right? You've got all got customers in different niches and it's like what do they have that I'm not currently solving and you could just listen to them like what are they complaining about? I don't think complaining is bad. I think complaining is an opportunity. If I can solve their complaint I make money. And then it becomes well what is solving their problem worth to them? If you can solve a big problem you make more money. So once you identify it what's it worth? Then how is your product different from all the other current solutions in the marketplace? So what am I going to do to differentiate? If I don't differentiate, then I'm just a commodity, right? That means everybody is just going to price shop me and whatever else. And you see this happen with service-based companies. So how am I going to differentiate?
Now from the business perspective, I got to look at profitability, right? I got to make sure that I can actually do this profitable. I got to look at scalability. you know, if I was going to sell one-on-one coaching or something, it's not very scalable. You know, I got to look at the predictability. So, for me, I've pretty much transitioned most of my companies to recurring revenue just to get more predictability. You know, I grew up in a game of high ticket sales, big deals. You know, we'd flip houses, make 50 grand, and you know, then you're you're just waiting till the next big deal. You know, high ticket sales is the same thing. You sell a $10,000 thing, a $30,000 thing, you're just waiting for the next high ticket sale. I adjusted everything I'm doing to now just monthly recurring. It just makes it more feasible for people to get in the door. Plus, it allows you to have predictability.
And then lastly, make it irresistible. So, how much value are they going to be getting relative to what they're paying? Right? If I can give them 10 times the value relative to what they're paying, then they're going to buy from me, right? So, how can I make sure that what I'm selling is so much cheaper than the value that they're getting that they have to buy it? You know, what's the ease at which they can buy? Is there a lot of friction to buying it or is it very simple? Right? So, we want to make it easy. Also, this is a big metric that you guys should measure in your business. Speed to success. How quickly can they get the desired outcome they're buying? Right? So, I if if one of my businesses is we make cash offers to homeowners, can I make them a cash offer in like a minute? That would be the ultimate outcome that we're giving them the offer really quickly. If I'm teaching people how to invest in real estate, what would be the ultimate outcome? I help them get a deal as fast as humanly possible. If I can get them a deal as fast as humanly possible, they're going to be really happy. So, how do I increase the speed to their desired outcome? And then lastly, if there's any guarantees that you can make, right? Right? If you can make guarantees that aren't going to break the bank, then they they can absolutely crush it for you. Okay?
Now, I'll give you an example of a unique offer that I just created. I was telling you guys, I just started a business three weeks ago around golf. This is the company name. It's called Mastermind 19 or M19 for short. And basically, when I was creating the offer, I did all the things I just showed you. I was like, what is the customer's problem? what can I do value-wise? You know, how profitable is it? How scalable is it? I asked myself all these questions, right? And essentially, the reason I made the business is because number one, I personally love to golf and I love golfing with highle entrepreneurs. I love going to like sick places all across the world. I love going to these bucket list golf trips. And I was like, man, I don't really have anyone to go with, right? Like most people are are busy. They're working, whatever. And I'm like, man, if I want to go, I would like to go hang out with other cool people who are like me, people running seven figure, eight figure, or even nine figure businesses, people like you see on stage. And so I was like, all right, well, why don't I just create it? You know, I had done golf trips before. I had done golf with me sessions before. I'm like, I'm just going to make it a full-on thing and let's see how it goes. So I was like, okay, well, what would I give them if this is the thing, right? Well, number one, I was like, "All right, I'll give them a community. You know, they'll be able to access other members of people who are seven, eight, nine figure entrepreneurs who love golf, you know, access." And you guys are hearing about access today. It's super important. Then I said, "Okay, let's do tournaments cuz people like that. Let's do the bucket list golf trips cuz people like that, you know, let's um play around with them so they'll come to Vegas. We'll play around together. You know, people like that." You start to look at this and you're like, "All right, this is pretty unique." Like, what competition do I have? I literally don't know of any competition. There is nobody else who has a mastermind around golf. It just doesn't exist. Now, there's like a million other masterminds about anything else, business, and everything else. And so, if you're going to differentiate in this space, you better be bringing something very unique to the table. But I'm like, man, if you play golf and you want to hang around cool business people, what else you going to do? I have no competition. And that's the thing you got to think about with your business. What makes you different than your competition? If you're an HVAC company, what makes you different than the other HVAC companies? Because if you're just the exact same, you're just going to race to the bottom. You know, one of my great friends, his name's Tommy Melo. He runs a uh garage door company called A1, biggest in the world. And you know, we talk about this. They're actually like the highest price garage door company. Why can he charge the most? better brand, more recognition, more trust, better service. He has all these things that make his company unique and they're able to do more. They have more access to different doors, custom like everything they do separates them from the local garage door shop. That's why they're the biggest.
So now let's talk about a core funnel. Okay, so once you have a unique offer, how do I get people aware of it? So for me, I always say I want to keep it simple. Okay? One funnel, one marketing strategy can make you millions. A lot of people will be like, "Man, I need to diversify. I need to be on YouTube. I need to be on Tik Tok. I need to be on Facebook. I need to do this." And it's like, "No, you don't. You do not need to be everywhere starting out. You just need to be good at one thing, and you can make millions. You want to go spread out and and and get broad as time goes on, for sure. But you just need one funnel that works. I mean, we literally use one funnel to go from zero to 700K a month in 9 months. It's literally just a workshop that we promote on Facebook. That's it. And people are like, well, shouldn't you diversify? What if Facebook shuts you down? I'll worry about it when Facebook shuts me down. Until then, why am I like preparing for something that hasn't happened? Like people prepare for all these inevitable scenarios that never happen, right? So diversification isn't necessary until you're really spending millions for me too. Selfquidating funnels are great. So for me, it's like, man, how can I figure out how to get them to pay me immediately, you know? So we'll sell tickets to things. Uh we'll do lead magnets. We'll do all these different things to get people to pay me right away so that I can market for free. That's the goal.
Now, if you are going to market, these are the four Ps. This is this applies to both paid and organic. All right. First thing, know your product. Your product, whatever your offer is, everything starts at your product. If your content and your ads don't push back to your product, they're a waste. There's no point to do it, right? like making making videos ain't free. Takes time and energy and money and all this stuff. So, make sure that your content pushes back to your product. Then think about the person. Who is the person that buys your product? Okay? How old are they? What's their demographic? What's their age? Are they married? Do they have kids? What's their ethnicity? What's their religion? All those things matter. All of it. You don't need to sell to everybody. You got to just sell to the person who buys your stuff and then find more people like that. Then the problem we talked about what are your customers problems? But when I'm marketing, if I can call out their problems in content and in ads, I'm going to get them. Like if if you're in Vegas right now and your AC is broke, right? I'm gonna make an ad being like, "Yo, is your house over 80 degrees right now? you've been like can't you just have you've been kicking it down the road but now it's unbearable. Well, give us a call. We can fix it for almost nothing. It's like that's the problem. It's it's 80 degrees plus in their house. Let me just call it out in content in ads. Whatever. Right. Hey, it it's summer in Vegas. Are you tired that like your AC bill is through the roof? Well, if your AC is more than 5 years old, it's probably not efficient. You could probably get a new AC and cut your bill in half. Like I don't know if it's true, but I'm just saying like that's the framework you got to think uh through. And then lastly, the platform. Where are the people that want your product? Where are they at? You know, if if your demographic is 50 plus, they're on Facebook, right? Like they're not anywhere else. If your demographic is teenagers and young kids, well, it's probably Tik Tok. So, just know the platform that your customer is on.
And then lastly, people ask me about paid versus organic. They're like, "Ryan, do I got to make organic content? Should I run paid ads? What should I do?" So, I always say, "Look, for most organic is going to be a lead converter. Meaning, most people think organic content is to generate leads. They're like, "Oh, if I make all this content, I'm gonna get all these people who want my stuff." And it's true. It does happen. But if you're just starting content, you ain't going viral tomorrow. All right, odds are the videos you put out aren't going to get a lot of views. And so it can be discouraging because it's not generating leads. But here's the reality. If you're running ad campaigns and you have a good base of organic content, that content converts all of your paid ads for you. So, I repeat, if you run paid ads and you run them to a page that has no content, then guess what? The paid ads probably won't work. But if you run them to a page that has content, all of a sudden they're going to look you up and they're like, "Oh, this is legit. Okay, cool." They look you up, all of a sudden they're like, "All right, I would use this. Like, I like what they're saying." Even though that content never got leads, it converted all of your other marketing channels. I mean, anytime you guys get referred to somebody, I'm sure you go look them up online, right? I mean, you look them up on Instagram and Google reviews and all this stuff. So, it's a conversion tactic. So, content's really important for that. Brand is important, too, but it takes years to build. You're not going to get brand tomorrow. That just takes years of putting in the effort.
And then I always say, assume no one knows you. This is the key. Just assume no one knows you. A lot of people think they pitch too much. You know, I was watching a guy, you know, Alex Ramosi, who many of you probably know. He's uh spoken at my events. We've done podcasts and other things together. I just watched this guy pitch a book for three days straight. He literally like pitched it for 72 hours on a live stream. It was crazy. He's acting like no one knows him and everyone knows him. But that's the mindset you got to have. Grant Cardone told me that as well. He's like, "Look, I I walk around like no one knows me. I'm gonna tell them what I sell. I'm gonna tell them who I am. I'm gonna assume no one knows me at all." That's the mindset you got to have. No one knows. You promote like crazy. They've never seen the thing that you thought they saw. You know, you put out the same piece of content, they never saw it before.
Lastly, okay, once you got a funnel that's working, how do I get sales quicker? Well, first understand the velocity of money. The faster you get paid, the more you can reinvest into growth. So, I'll get a lot of service-based companies who are like, dude, yeah, I mean, uh, we'll bill them once the job is complete. I'm like, why not get paid now? Like, it's just not how we do it. I'm like, why? They'll pay you right now if you just ask them. at least get half of it right now. Why would you not get the money now if they'll pay you? It makes no sense. They're like, "Well, I don't need it." I'm like, "Yeah, you do. If you get money quicker and you spend less time chasing people, you can get more sales and reinvest into growth." So, get paid as fast as you can. Also, sales cycles are faster when your unique offer and core funnel are dialed in. When everything is cohesive, the sales cycle decreases. And the quicker you can get people a result, the more they can buy from you. So for me, my goal is if you buy something from me, I want to get you the result as soon as possible. And if you got the result that you were promised, odds are you'll probably buy the next thing I offer you. So if you want to really increase your lifetime value, get people results really quickly so that they can buy more from you or refer someone to you.
You know, also anytime you can start selling one to many, it becomes really powerful. So for me, I do these free master classes online. You know, they're like 90 minutes. That's my preferred way of selling because I can go get thousands of people on this thing every week and just one time 90 minutes, sell to everybody. It's way easier. I don't need to have 20 salespeople, you know, calling all these people. Like I can just sell to everybody all at once. it becomes way easier and you can build trust quicker with large groups. It's like I if it's me, you're going to trust me more than my sales guy. So if I can get in front of more people, it's better for the company. And your sales team will get better leads from that, you know, because not everyone will buy right there. So now the sales team is talking to people who just got pitched by me or taught by me or whatever the case is. So it makes life way easier when you're doing one to many. And then the benefit is smaller sales teams. Who would like smaller sales teams, right? Like sales teams are a pain in the butt. I don't know how many of you guys have them, but like managing sales guys sucks, okay? But for me now, sales teams only hire or they only handle highly qualified leads at this point. They're not like digging and doing outbound. Everything is qualified. So there's no more hourlong demos and explanations. Like the moment that person gets on the call, they already know what the offer is. They know who we are. At that point, it's just basically I call it order taking, you know, and soon AI will take care of a lot of this. I mean, we're already testing AI for texting and calling and everything else, and it is drastically getting better every single month. It's insane, you know.
Um, one of my other friends, his name is Dan Martell, if you guys have seen him. Uh, he was at one of my events about a month ago, and we were just talking about AI and how quickly it's evolving and all this stuff. And I mean, not just on the sales perspective, but I mean, like, a lot of people have thought AI is not going to affect like bluecollar jobs. They're like, AI can't paint a house. AI can't do this. Like, yes, it can. Okay. Like if you guys are bored, just go watch these robots in factories now. All right, these robots are in factories now literally like with the best dexterity doing everything. They're just packing things, moving at this pace. And you know what? They work 24/7. They don't complain. There's no HR complaints. They don't need insurance. They don't sue you. Like you telling me they're not going to hire a robot and pay 10 grand for this robot, 20 grand for this robot and have no issues and it works 247 like it's coming for everything. So, you know, you just look at this and it's like for me as a business owner, all these things are great because the you know, the lower you can get your costs, the better. And it it allows you to actually make your products even better for the customer, too. The customer will inevitably win when prices go down, right? Because somebody else will cut your price and whatever, right? So, it's always good for the customer with innovation. But the point is there are better ways to run your business. You don't have to keep doing the same model that you have been running.
So, to summarize all of this, number one, you've got to have a unique offer, right? Get an offer that solves a problem and separates you from your competition. Number two, you've got to get one marketing strategy that you can depend on. You don't need 10. You don't need five. One will crush it. Now, it's going to take time. You got to test. You got to try things. But one funnel can crush it. And then lastly, figure out how you can get paid as fast as possible. If you can get paid quicker, you can reinvest into marketing and scale quicker. That's the game. Get my money back as fast as possible, put it into more marketing, and that's how you're going to grow really quickly.
So, any guys want to do anything together, you can scan the QR code, go to ryanpan.com. Um, was this was this talk helpful to you guys? Okay. So, you know, they they told me to give you guys like a very like I I could have just come up here and just told you my story and like hyped you up and whatever. And that that's great. There's a time and the place to get people hyped up, but I wanted to just make sure I left you guys with tactical information that actually will help your business. It gets boring. Some people are checked out. It's all good. But for those of you who apply this, trust me, you guys will make a lot of money. It's gonna make your business way better. So, thank you guys.