Recurring Revenue Allowed Us to Scale

Episode 61 November 25, 2022 00:28:32
Recurring Revenue Allowed Us to Scale
The Agency Hour
Recurring Revenue Allowed Us to Scale

Nov 25 2022 | 00:28:32

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Hosted By

Troy Dean Pete Perry

Show Notes

This week on the Agency hour, we’re chatting with Brandon Hirst to break down how Brandon went from 8K to 34K in recurring revenue in a single year. We also discuss how his stress levels have dropped thanks to growing his team, dealing with push-back & never trading time for money.

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Episode Transcript

Speaker 0 00:00:01 This week on the agency hour, we're chatting with Brandon Hurst. You won't wanna miss this one. We break down how Brandon went from 8,000 to 34,000 in recurring revenue in a single year. How his stress level has dropped thanks to his growing team in this recurring revenue and dealing with pushback and never trading time for money. I'm Johnny Flash. Stick with us. All right, welcome to the Agency Hour. Today we've got Brandon Hurst from Be Hurst Media joining us, uh, from Spokane, Washington. Hey Brandon. How's it going? Speaker 1 00:00:31 I'm doing great. How are you? Speaker 0 00:00:33 Awesome. Hey, well, um, I wanted to dive into kind of this whole, you know, selling projects as a payment plan, how you've really grown your recurring revenue. Cause it's been an extraordinary kind of journey over the last year particularly. So, um, tell us kinda where were you, you know, a year or so ago with like recurring revenue and were you doing any, you know, projects as a payment and kind tell us where you were there and then we'll kind of jump to now. Speaker 1 00:00:57 Yeah, so, um, I've, I've definitely grown quite a bit as far as recurring revenue goes. Um, I've always been the more, the typical agency model of like doing like a one, a big project where we have 50% down, 50% done or paid when it's done and basically ready to launch. And then we have care plans. So we always had some, like the technical support care plans and those have helped with reoccurring revenue quite a bit. But what I was coming into the play of as a, a pretty big rollercoaster of like up and down months of like, basically we, things are great, we just had, um, four new projects sign on, but then we have that in between time where we're working on the projects. And then that next month looked at it and every time I looked at the numbers I'm like, I know we're doing good because like we're having this stuff. Speaker 1 00:01:40 But, um, I mean if, if it came to a point where like we're dry for a couple months and um, we, we had to like ha make sure we're like keeping that like little bit of flow there so we're not running into issues there. And one thing I wanted to do is really grow my team and that was, that was a big thing that I was focusing on. And because like I, I want to make sure like my reoccurring revenue is, um, there, so I can for sure say, yeah, we can make payroll, not gonna have any issues there or anything like that. So that was a big focus for me. Um, so about I'd say like December last year, towards the end of the month, um, I started like really kind of diving into like, how can I make it to where um, we make it a little bit easier on it and spread it out to where I'm never gonna have any issues. Speaker 1 00:02:23 And oh, for me, I just feel more comfortable with like having a, a consistent reoccurring revenue versus those up and downs. Yes, I'm making the same with it, but at the same time it just makes the books so much easier when I know like, okay, we're gonna get another um, X amount this month and next month we're gonna be growing because we're getting this. And it just made it life a whole lot easier with making, managing everything. So where I was at, like, yeah. Yeah. Um, so I was just gonna say, so where we're I was at as far as like, um, I, reoccurring revenue wise, we're looking like right around like 8,000 a month with it off. Just like the care plans we saw, like I said, we still have those one projects. So the, my revenue was high, but my reoccurring revenue was low. Speaker 1 00:03:03 So what I started doing is breaking up like how, um, like those big projects and started doing more payment plans with them, um, to where like we split it up over six months, 12 months, whatever. And we're getting the consistent stuff in there. It's a break for my clients, so they don't have a huge bill, um, right up front and right at the end. But, and then also it makes it so much more just easier consistent payments. But then for me it made it to where I can bring on projects and still support everything without re and revenue. I know stuff's coming in. So I, um, over the time I brought, bumped it up, um, we're looking at right around 34, um, thousand for in, uh, the 8,000 to 34,000 over this past year on comparison. So there's, it's Speaker 0 00:03:44 8,000 to four. Wow. 8,000 to 34,000 that is just incredible in one year recurring revenue, like quadrupled mm-hmm. <affirmative>. Speaker 1 00:03:54 So yeah. And that's, I mean, we still have some one off projects, things like that, but like the, the, I don't, I don't really focus on those one off projects. Like the only my bottom idea or line that I focus on is every refugee. So that's what I track there. Wow. It's Speaker 0 00:04:09 That's amazing. Speaker 1 00:04:10 It's definitely been improvement Speaker 0 00:04:11 There. That's amazing. So let's dive into this a little bit more. Cause I'm sure people have thoughts, you know, questions in terms of like, how does this exactly work? So you're, you're, you're doing a hypothetical, you're doing a proposal, let's say it's normally would've been a $15,000 project, you would've did your 50% upfront whatever, whatever. Like what does that look like now? Do you give them the choice? Do they have to do the payment plan? Is it the same amount? Is it different? How does that factor in with like what you would've charged, you know, 15,000 upfront mm-hmm. <affirmative> and then you would've had some kind of monthly care plan, you know, after the fact. Like kind of walk us through that. Speaker 1 00:04:45 Yeah, so for me, like if we're doing a payment plan, um, the, a couple questions that always kind were coming up for me in the beginning, and I'm sure a lot of people get the same kind ideas, but it's like, well one, what happens if they stop paying? Like, um, do they just get the website and it's on their server and there's nothing you can do about it? Um, two is there like what if something happens, um, 10 months down the road, at least I'll two months left. Obviously you're gonna wanna still fix it for 'em. So like how do you make it to where it's still profitable for you and the business? It makes sense for the client as well. So, cause like, I mean they're still, they're still paying you, um, 10 months down the road and they may not be like, you may have been done with the project, but um, what we decided to do is like take a care plan and put it, build it into the price for that payment plan. Speaker 1 00:05:31 So that way like we're still getting, um, payments through that and we still feel like we're still getting paid for those months. Um, it's just, it makes it to where we don't really have to focus on like, okay, yeah, the project's been done, they messed up the site or whatever, we have to go in and fix it. We can just go in there, jump in there and do it for 'em right away. So what it does for the client is like they are paying more, um, obviously over those, the 12 months or whatever, how many months you decided for that payment plan. But at the same time, um, you're still getting the technical support along with it. You're still working on that. They're a regular care plan customer as is where they website launches. But then when you go to move 'em off that you, it's an easy transition to a care plan. Speaker 1 00:06:13 So you don't have to say, Hey, now that you're outside's done and you're done with your payment plan, um, everything there, they, we just say, oh yeah, as soon as the um, plans done, we just, your price drops down of this and then that's covers it for the technical support. And that's stuff we cover in like the very beginning of it. So that way there's no like infusion, I don't have to, um, message him and ask him again like, Hey, do you still want a sign for, um, technical support? It's just expected that once that's done, it gets dropped out into it. So that's, those are some of the questions I had and um, I've been asked that quite a bit with, from people. Um, but yeah, those, those are the main kinda things. And as far as like a one-off projects, we still do some of them because there's some clients that they just, they wanna get it done now they, and they just wanna pay for it now. Speaker 1 00:06:56 Um, I will still do 'em, I I strongly kind of push still towards the, um, reoccurring revenue side of things or the payment plan side of things because like for me, like I said, I, I, that's what I care about the most. That's what I want in there. And then it's, it's an easier transition for the care plans. And then also, um, when you do have like the one off projects with the other things there, it just, um, it's so nice to have them come in. It's just more of like the transition between the two. I'm, I'm able to get a little bit more out of it over the 12 months. Um, cuz typically if they're one off project, they aren't necessarily, um, you have that other sell that you're gonna have to go in there and talk about the technical support later on. So that's just one of the things that, it makes it easier when you do have the payment plans first, the one-off projects. Speaker 0 00:07:45 Right. Right. So if it was the 15,000 in the example, if it was the 15,000 project and you were gonna put 'em on, I dunno, hundred $50 a month plan, let's just say then, or, or maybe even $250 a month plan. So that would be like 3000 over the year, you know, for the care plan. So then are you basically like pitching that as in that example as like an $18,000 project that they can pay for over 12 months? So like $1,500 a month kind of thing? Speaker 1 00:08:12 Yeah, so I, that's basically what I do there. Um, I typically will make the payment plan overall cost more cause like, um, just because that's when they include the technical support in it. So like for instance, if it's, let's say just for a quick numbers throughout there we have, uh, $15,000 site. You add 2000 onto that for the payment plan divided by 12 or Speaker 0 00:08:35 Whatever. Speaker 1 00:08:35 It's, um, that extra 2000 is gonna be for basic technical support there. And I do give kind of a discount on technical support during that time because they're already paying for the website that is one there. So I don't take like the full amount that they'd be on for like a care plan and add it in. You could do that for me. I just, because I know how much, much we're can be paid each month, we're good to go there. Um, that's just how I do it. Speaker 0 00:09:00 So it's kinda like a, it's gonna be the same as like someone who maybe takes a payment for a a care plan, you know, a year in advance and they might give a month or two off. Right. Yeah, it's kind of the same type of thing. Cause you know, you have the money, you know, they're gonna be on for a year. Mm-hmm. <affirmative> and I'm assuming, um, kinda giving you the softball here, but I'm assuming that you're hosting these sites because they owe you money so that way if they ever stop paying, like you can kind of turn it off, right? Speaker 1 00:09:25 Yeah, like, um, I, I went back and forth with that because like there, there are like we, we host most of our client sites anyways, but I've had some people say, well, can we host it on my server and do that? And it's like, um, totally fine moving it over once the payment plan is done. Um, the main thing is like, yeah, if they could, if we get it done and um, our project time like four to six weeks and then they still have that rest of the year to pay for, um, there's nothing I can really do if it's on their server and they lock me out. Like, I mean we can put like fail safe and things like that in there or um, take 'em to court do that, things like that. But I don't want to have to take, get to that part of it. Like that's never fun for anyone. So, but if you just have it on your server, like the like, um, rather than on theirs, they don't, there's not really that like question of, oh, I don't feel like paying them anymore and kind go from there. It just, it's you, you have more control over that with it. Speaker 0 00:10:19 And do you give them, uh, real technical minor question, but do you give them admin access when it's on your server or are they like at an editor level or somewhere where they couldn't just like clone it off and, and run with it? Speaker 1 00:10:31 So we give 'em admin access still, um, but we disable like adding plugins and things like that. Speaker 0 00:10:37 I can tell it. Yeah. Okay, gotcha. Yeah. Cool. So you've gone from 8,000 to 34,000 in occurring in like less than a year, which is amazing. Um, what, what has that allowed you to do in terms of like team development and stuff like that? Cause I would imagine having that consistent revenue, you're, you're able to, you know, bring people on a little bit more confidently knowing that like the money's gonna be there tomorrow and next month to pay them. Speaker 1 00:11:03 Yep. So it, it's been great. Um, my team has definitely grown. We're up to four developers, SEO specialists, a project manager and uh, executive assistants. So we've had quite a bit of growth with it. Um, uh, as far as like the team, um, it's, it does make it a lot easier cause like, I mean, as you guys all know, there's always gonna be some months that are a little slower than others. So like when I go into those months, I don't feel any stress anymore with it. Like I don't feel like I have to put a shot like some random offer to a bunch of people just to make, um, rent or whatever for it or make payroll or do anything like that. It's just one of those things where, hey, we, we know we have these, these coming in. And um, the nice thing about the reoccurred revenue with it is since what's already up there and it's based off of like, um, they're not like huge payment plans or anything like, anything like that. They're, um, consist consistent enough to where like if one or two end or we, um, have a couple people cancel with stuff, we're not gonna run into any issues because we're hitting everything there. We have our profit s set up pretty well. So those are the big things that we, um, it just makes life a lot easier as a business owner. I don't have to worry about it. Speaker 0 00:12:13 And I would think that in addition to kind of making life easier and you know, being able to kind of know you, you can pay your team and if it slows down slightly, it's still gonna be there. I would imagine that when someone's year as an example comes up and let's say they've been paying $1,500 a month or $2,000 a month or whatever for this payment plan, I would imagine it's probably a little bit easier potentially to upsell them at the end of that because rather, you know, if they're already paying 1500, 2000 a month and they're gonna drop down to let's say a $250 a month plan or $500 a month plan, it's not that hard to say to them, Hey, you could drop down to two 50, but if you want us to keep doing this SEO work or these Google ad management or whatever the thing is like, hey, it'll only be $750 a month, and so their payment's going down in half or more mm-hmm. <affirmative>, but you're still able to like, offer them services. I don't know, that just seems like a easier sell than saying like, Hey, you just paid 15,000 for this website, now you gotta now fork out, you know, this extra money for these upsells that we're trying to do for the recurring. Speaker 1 00:13:12 Oh yeah, a hundred percent. It's, it makes it a lot easier. Like, um, I tested out with some six month payment plans, um, in the beginning, so like I've already had some people go through that and um, the people who have gone through it, I've able been able to like put them on higher, um, support plans where we are doing more like building out landing pages for them or having like more support as far as, um, doing a little bit of SEO or doing a little bit of um, like graphic design forms, things that would typically cost more obviously. But, um, we, they, it was an easy sell because it was still cheaper than what they were paying before. Speaker 0 00:13:46 Yeah. Yeah. I just think that that gives you so much room if they're at 1500, 2000, 2,500 a month to get 'em, you know, still at a $750,000 a month plan going forward. I just think that, and you've built that relationship for a year. Right. So I mean typically like if we do a website build, it might be eight to 12 weeks depending on the complexity of the project and stuff. But, um, so we have some relationship that we've built up with them over that eight to 12 weeks. But I would imagine after they've like been working with you for a year, it's even more so solidified that like they, they'd be kind of scared to, you know, suddenly like not have you in their corner when you've been there this whole time mm-hmm. <affirmative>, which, which I think is just really great. Yep. Um, what would you say in terms of, um, I, because I I imagine that you have more cost up front, right? You build the website, you said over four to six weeks, even if it takes you eight weeks, a lot of your cost obviously is upfront and, and then, you know, so you're, you're front loaded with the work, the payments are coming over six or 12 months, so you're kind of getting most of the, the money after the work's done. Does that create any kind issues or anything that like, um, as you kind of deal with that? Speaker 1 00:14:58 Um, I mean I, I just need to space it out and that's one of the things that we have kinda run into, which is why I've had to scale the team a little bit more than I, or faster than I expected. Um, but at the same time, since we do have like the, those coming in, I don't, I don't, um, feel like it's a hard thing to do to like step back a little bit and scale more or bring on some more people because it's like, I know what I'm gonna have for the next like 12 months. I, like, I have my whole map of how everything's gonna look out for it. And then with that being said, as soon as like if we do need to scale it up, I can just say, okay, um, yeah, we can start your project next week or whatever. Speaker 1 00:15:37 I have people ready to go. I have contractors and stuff like that that are, um, available if I need to hire on extra on people for it, so, which is nice. Um, so like the cost of things up front, um, since we've already been doing it, I, we have wiggle room already in like our current budget to where we can easily do that if we need to run into it, but knowing that we'll be making it back later on. So like there is a little bit of push and pull with it. Um, the the main stuff though is like just knowing that we have the extra stuff coming in next month and what it's gonna cost next month, I can like, um, there's other services out there too if I need to bounce stuff up or bump stuff down, I, I have a little bit of back play with it and then we have some, um, a couple of our developers are part-time, so if I need to, um, or ask anyone if they want extra hours or anything like that for a couple weeks or stuff like that, I always have a lot of people who are definitely interested in doing that. Speaker 0 00:16:28 So mainly just what I hear you saying I think is just if you space out some of the start of the projects, like it would be bad for you to have four clients potentially sign on in the same week, right? Yeah. Because mm-hmm. <affirmative>, all those timelines would be real crunched, but if you can have one sign up now and one, you know, in a week or two and you can kind of just keep those kind of, uh, a little bit of space, then that kind of probably helps a lot. Right? Speaker 1 00:16:50 It, it does definitely help. And I did have, um, that kind of happened, which is why I ended up scaling pretty quick with the team, like more faster than what I expected with it. But, um, overall it wor it turned out good because I was still able to get the stuff going and get things those launched. Um, we have had like some projects where things have been a little delayed with it because of things like that. Um, but at the same time, like my, the clients were all understand we talked to 'em and got things set up and ready to go. So, um, as long, the main thing is as long as you're communicating with clients and you're upfront with some of the stuff with it that like, obviously they're gonna be more than happiness. There's like a real specific deadline and you can work stuff around that. Mm-hmm. <affirmative>, Speaker 0 00:17:29 Do you, have you ever gotten any pushback with like, cause I, cause I what I hear you saying is you're, you're kind of steering people toward the payment plans mm-hmm. <affirmative>, you know, cause that just has the consistent revenue. Do you get any pushback? Is there people that are like, I really don't wanna pay, you know, two grand for the next year? Speaker 1 00:17:45 I mean, like I have, I've had a couple people where they just wanna do the one off projects and I that's totally fine. I just give them the option between the two and, um, I like, like I said, I, I push more for the reoccurring one and um, talk more about the pros on it. Like, um, when I, when I'm describing a payment plan for, I talk about, oh yeah, and you're gonna get support for the 12 months, you're gonna have this all included. Where if you do the one off, you only get support for one month unless you go onto a technical support plan, which then is a monthly payment after that. Um, but the nice thing about it is as we're working on the website, if let's say your team gets held up a little bit and um, you have to are we have some pages that aren't necessarily done and we wanna get new content in there, you can take the time and just know that we'll be ready for you as soon as that's happening because you're already on that technical support plan. Speaker 1 00:18:31 We can get that stuff set up for you no problem. Um, things like that where it just helps kind of like smooth out the, or gives more pros for the payment plan versus just not doing it. Um, cuz it's in theory it's not that much more and it's split up even further and for some reason, um, people are more likely, I don't, I don't know why, but for some reason people are more likely to want to split it up over it because like even though they're paying more, they are still, they're getting, it feels less to them because it's overall upfront it's not as much right Speaker 0 00:19:05 Away. Speaker 1 00:19:06 Yeah. Speaker 0 00:19:06 So that's why Amazon's got the, the buy now pay leader or app, you know, the paying four easy payments and you're like, this thing is only 120 bucks. Like I really don't need to do four payments, you know, but like, I'm sure it's attractive for people, right? Cause like I can just pay 30 bucks now and get that $120, the $1,500 thing, I only have to pay 300 bucks now, whatever it is. Right? So, um, yeah, I can see that that's for something about that psychology. Mm-hmm. <affirmative> just makes it easier for people to spend more than they might have otherwise, right? Mm-hmm. Speaker 0 00:19:37 <affirmative>. Yeah. Um, I was gonna ask you about, as I was thinking about this too, I was gonna ask you about like, you know, marketing services that you might offer after a web design. I'll just give you kind of a quick example and I'm kind of curious how this plays out in this model. So we did a website for a company that's got a lot of products. They sell 'em through distributors, so it's not actually an e-commerce site, but they're trying to push their products and the highlights so that contractors and stuff are, are requesting their products. Um, and, and the end customer. And so like we did their website, I don't even remember what the project was. Let's say it was 12, $15,000 to do this website. And then they were really wanting us to do some ongoing marketing for them, which is turning out to be in the $2,000 1800, $2,000 a month range. Speaker 0 00:20:23 So for them, we were able to get them, we weren't doing the payment plan, so we were able to get them to pay, you know, 12, 15,000 over a few months to do the web project. And now they're gonna be paying us, you know, 1800, 2000 a month for ongoing marketing services. I'm curious with the payment plan model, um, would you just for a marketing service that they, you knew that they wanted, would you just kind of bundle that in with the, the project cost? Or how would you go about that with this kind of payment plan model? Speaker 1 00:20:51 So something like that. Um, I would, if, if I knew that you wanna do something along the lines of more than just a website, I would put them into more like my signature system. So, um, we, we developed that through like Maverick's and kind of got the whole idea with that. And, um, that's more a complete like encompassing setup of like everything for them rather than just the website. And we do like their funnels, the landing pages, the seo, um, any kind of like marketing setup that we would help 'em with, that's all included with it. And the way we kind of like break that up is like, we figure out like one, like, okay, they need their website and this is the first that, that we have to do. Um, we know that we're gonna be doing a social media launch soon, so we're gonna get some landing pages done and ready to go. Speaker 1 00:21:34 Um, and it's just we have more of a, like a commitment on what all they're gonna need there. And then we just figure out like it's x amount of hours a month for what they get for that signature system. Um, and then it, that way it gives 'em a little more freedom of like what they need. So like if they have a big promotional thing that's coming up, we can easily like kind of shift gears without being like, okay, now our timeliness all messed up. We just, let's say, okay, these are, this is what we're gonna focus on for this quarter and then each month we have a monthly check in to make sure like, this is what's coming in or this is what's going on, this is what's what we need to work on. Um, and it just makes things a little bit easier that way. And we do have, um, more of a, um, like a, we, like a minimum like six month commitment or if it's a really big project then year commitment of being on that plan. So that way, like if they say that they're done or whatever, after x amount of months, it's still similar to a payment plan with it. We just make it a little more, um, a little more free flowing versus the, okay, this is what we're getting. And then to social get after. Speaker 0 00:22:35 Okay. So I, I hear you saying with the signature system, it'd be like three, four, $5,000 a month. We're gonna do your website in month one and two, we're gonna launch the social campaign here, we're gonna add on the digital ads here, here. And so they've got, they've got a lot more stuff that they're getting done over the course of that six or 12 months and they're paying obviously a higher amount for that. Yeah. And so it still kind of puts it in that payment plan kind of recurring revenue model, right? Speaker 1 00:23:00 Yep. Still, yeah, still that reoccurring revenue. And then the nice thing about it is like we, we base it off like how many hours we spend on it per month. Um, so like, I'm not gonna say that the landing pages are gonna be, um, super, there's like, we're, we're gonna charge like x amount for the landing pages or x amount for the social media posting or anything like that. What we do is just, okay, you get these hours with this package, we can spend it on any time over here based on, um, like the plan and like the actual like roadmap of what we designed for it. So that that's how we break it up that way. Um, it makes life a lot easier doing it that way too, um, because they just have a little more freedom and like, as everyone knows in business, things tend to move pretty quickly or we people want to move quickly, um, and by saying, no, sorry, we're locked in for this for, um, a year, or we're locked into this cause we have to get this project done here, um, makes it a little harder for some business owners when they have a big launch that they're needing to push forward. Speaker 1 00:23:57 So some, I mean, I've had some clients where like we're working on their website, we're about done, but they have a big like webinar that we're, um, getting ready to launch. So we'll put the website on pause, work on the, um, the like webinar funnel forum to get that ready to launch so they can do their big push. So it's, it really kind of goes back and forth depending on what the client needs first. Like, okay, we have our strict deadlines here, which does put a little bit of, um, a little bit of a stress with a team as far as like things have to be paused and drawn out a little bit over time. But at the same time, like, I mean, as long as, so we're still fitting within those hours and we're good to go, we're not like stretching past that unless the client's paying for more, we can bring out more time, more people for it. So that, those are the main things that we focus on. Speaker 0 00:24:39 Love that. Love it, love it. I know some agency owners will even do like a credit system where they'll say like, Hey, if you need this landing page launched or you need this social media campaign, like, you know, you're on this plan that has X number of credits and they just kind of assign similar to like what you're saying basically with the hours. But rather than kind of saying you have 20 hours or 40 hours or whatever, it's like, hey, you've got 10 or 20 or 30 credits, these different things take up different credits and then kind of give the flexibility to sort of adjust as needed mm-hmm. <affirmative>, Speaker 1 00:25:09 Which is cool. And I can definitely see that being a huge benefit because like, I'm gonna have had a couple clients be like, well, um, how many hours did this, this little project take? And things like that where if you have say, okay, this, this is gonna take x amount of credits or whatever, it's, um, it's a easier way to tell a client versus than be like, well that, that project only took like a half an hour Right. Or 20 minutes. Do we, how much, how much of it are we blocking it down so you don't have to give as much like detail Speaker 0 00:25:37 That point. Yeah. Yeah. Which I think is nice, you know, and we're not trading the, the time for money, so. Exactly. Yeah. Cool. Uh, well Brandon, man, this is just, I I'm just, you're so inspiring to me. Like I love how you just take action. You just, you just like, you're a go-getter, you're an implementer. You, it's just been great to see you on this journey. Is there anything else that, um, you think related to this that we haven't covered that would be helpful in terms of, uh, people that are considering like, Hey, this could be really helpful for me. Any, anything to look out for? Anything you would say? Speaker 1 00:26:08 Um, the only thing I would say is, um, the payment plans are great. They're, they're good. But one thing you wanna be careful of is just like making sure like you're comfortable with it. Cause like I know there's some people that aren't necessarily comfortable with like, split it up because like if something cancels or whatever, just make sure you're covered, like make sure you're comfortable with it. Um, I, I have a, a friend of mine that was talking with him the other day and he had a, just did a big like, um, $40,000 project for him and they did 50% upfront and then the other 50% was due, um, ready to go. And he was done with the project and it was a, um, basic, he's a tech company, but he was installing some like door system for a client. And that, um, company that he installed it for was all done. Speaker 1 00:26:55 It's all done. Company came back, said, Hey, I don't have the money to pay you. And so we were talking about like ways to like, in the future, so you don't run into that. Like, um, we talked with like different payment plans and you said, well I don't, um, I don't wanna be a bank to for this kind of stuff. I said, well, I mean what you could do 50% down and then split up that other 50% with payment plan that way. Like you, you have your costs covered, you don't have to worry about that kind stuff, but then you just have the whole, uh, the whole feature of like the extra like reoccurring revenue coming in after the fact. So, and he really liked that idea because like one, he's, he's not outta the, the 50% cost thing. So with it, he doesn't have to a bunch of money on his side of things, but then the rest of it's just split up over a month and he is getting that reoccurring revenue after that. So, and then also people aren't, can't, aren't gonna come back and be like, Hey, sorry I don't have the other 20,000 to pay you right now. I don't know what to say <laugh>. Speaker 0 00:27:47 So. Yeah. Yeah, that's good. That's good. I like that kind of, uh, variation on the take of this. I think, you know, there's lots of ways, you know, you like, you just, like you said, you, someone's not paying for a project and you, you know, wanna kind of give them the option to, to make it over some smaller payments. Like at least hopefully you'll get your money that way versus like hoping that they're gonna have that big chunk at the end. Mm-hmm. <affirmative>, um, or whatever. So. Well this has been great Brandon. Thank you so much for coming on. It's been awesome to see your journey as a maverick and just kind of the progress that you've made and the growth that you've had and your business. So, uh, really appreciate you taking the time. Speaker 1 00:28:21 Yeah, thank you for having me. I appreciate Speaker 0 00:28:23 It. Hey, thanks for listening. Don't forget to like and subscribe and share this with anyone you think may need to hear it. You never know. You just might change their life.

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