Transcription
Monthly revenue right now is 54K, right?
Yeah.
All right. And then ad spend is 3K.
Well, that's monthly.
Yeah. Per month. I got you. Um, this is per month. Great.
Uh, ads is 3K. Great. Per month. Okay. Per month.
Uh, industry is your medical. What do you do?
Uh, custom insoles.
Yes. I'm a podiatrist.
Oh, cool. Yeah. Yeah. Buddy of mine's dad was a podiatrist back in Baltimore. Um, okay. The offer is insoles for 300. So this is your your AO your AOV call it right. Um is 325. I know that you're in pounds but I'm just use writing dollars so it doesn't really matter. Okay.
Constraint is Google ads are under spent.
Okay. So you can't spend more than the 3,000 a month. Is that correct?
Yeah.
Okay. Are you local?
Uh yeah I do. I have an Google ads specialist that is running my Google ads. So uh that's something I never learned. But are you local? He told me that the that's local in the Netherlands. You mean
like are you running ads for a local business or are you running this ad spend nationally?
Oh, sorry. For a local business. Yes.
Okay. You're local. So people people do that they come in, they get measured or whatever and then they they get insults. Correct.
Exactly. Yes. Correct.
Okay. Got it. So they're saying they just can't spend more money.
Yes.
Okay. Uh I don't know if I believe that. How big of a city are you in? Like what's your 10 mile radius?
Um I I thought he he said around 10 kilometers something like that. But I was also thinking from Yeah, maybe he isn't did doesn't have the skills just to uh to uh to to scale the campaign so to say. So I am already in touch with in general our marketing agency that is already checking in with another Google ads specialist to see from if they can duplicate certain campaigns and get better results.
Yeah. So I'll say this man. Um so I mean congrats you're doing you know 600ish a year. Um I would strongly recommend you learning this stuff because it's not that hard.
Like it's really not that hard because then you're not going to like
right now you're saying the constraint of the business is under someone else's control. Right. That's a tough position to be in.
So, I would just want I would want to own this myself. And I'll give you a I'll tell you a story that like really changed my person. I haven't told the story in a really long time, so this will be a good one. So,
I went to this meetup where everybody was doing, you know, eight figures or more. And at the time, I wasn't. And so, I like snuck in. [laughter] They were like, "No, we think you're going to be, you know, a big baller." Because whatever. They recognized the the the magic in me. Um, but anyway, so they they let me come. And what was really interesting is one of the guys who was making the most money in the room when he went up and presented, he said this really interesting thing. He said, I would encourage everyone here cuz someone asked him like, "Hey, so what are you doing to like reinvest in your education right now?" He said, "Well, at the at the level that I'm at," and he was making, I think, 30 or 35 million. I remember thinking, I was like, "Oh my god, this person is God." Um, when I heard that, but he said he was making $35 million a year. And he said, "I would encourage you to write down a percentage of your income, whatever percentage you're comfortable with, and put that as your learning budget." All right? And that learning budget, he said, you should spend that every month um and expect to have zero ROI on nine out of 10 things and then the 110 thing will make you 10 times the the money. It's almost like doing a venture bet on yourself from an education perspective. And so I took that to heart and then I started spending saying, "Okay, you've got your 3,000 a month. I want you, Stephen, to do $3,000 a month that you control." And you saying like, "I'm going to spend 100 bucks a day and I'm going to see if I can beat this guy because I promise you when it's your business, you'll beat him. like you'll you'll you'll suck in the beginning, but you'll quickly learn like at like PPC for for Google Ads is like really not hard.
Like they make trillions of dollars to try and make it easy for you. Sorry. Go ahead.
Yeah.
Yeah, [laughter] that's great advice, man. Thank you. Definitely go start start with that.
Yeah. And the nice thing is that no matter what, if you spend more money on ads, you're going to make more money. So even if you're inefficient, you'll still increase topline. But I think that if you just try and get good and good and good at that and then I would also reach out to whatever these other agencies are. I don't mind spending more on this because again the big picture is like you have bigger goals than this. Right.
100%.
Right. So just don't let your ego get wrapped up in your one month or two month profit. Like that profit will be there if you choose not to spend money. It's always there. Right. So I would want to take as much of that profit as humanly possible. And I'm just I'm telling you how I do things. I take all that profit and I just see that as like this is my opportunity to reinvest in the business. When the business is small reinvestment is you are the reinvestment. And so that's where I'm like, okay, I want to I'm going to pay the my current agency. I'm going to pay the next agency and I'm going to tell both of them I want them to teach me what they're doing and I'm going to spend my own budget too.
Yeah. Yeah. So that that was originally already my plan. So I had just a call this afternoon with the new agency and I told him from look if we going forth with a Google ad specialist I want to have weekly calls to at least know what what he's doing in the ad account so I just can follow the the guy and that ever may ever have new ideas that I can just try out but that I understand what he's doing.
Let me tweak let me tweak it for you. Let me tweak it for you.
You're going to ask how often are they are they going to be you know really doing work on the campaign. Just let's just guess it's twice a week. Okay. I'm going to do something even better for you.
I'm going to ask that you don't even work on my account. I'm still going to pay you and I want to have two calls a week and all of the work is going to be done on those two calls. That's it. They don't have to do any other work for my account, but I want to be the one who controls the mouse and I want them to tell me what to do and why they're doing it.
Oh, that's that's a very good idea.
Okay. This is how I learned this is how I learned how to run national level Facebook ads. This is how I learned how to do it. I hired an agency and I said, "I'll do whatever. I'll show up whatever hours you want." I was like, "But I control the mouse and you tell me what to do and I'll do it." And I recorded my screen and I would ask questions along the way and they would tell me. I'd be like, "Okay, so why are we doing this?" And then within six weeks, I was like, "I get it. I don't need this guy anymore."
That That's genius. [laughter]
Cool.
Yeah, sounds good. Sounds definitely going to start there.
Rock and roll. Congrats on the business, Stephen.