- A few weeks ago I sent a tweet out,
asking for people to apply,
'cause I was doing a secret project.
And one of the guys who got back immediately
with a thoughtful email, was this guy named Amulya Parmar,
he's an impressive guy, you can see on his profile pic
that's done a TED Talk, that's amazing.
And because he's 19, it's trippy for me,
that I am now the old guy on this project.
26, I'm the old guy.
I'm mentoring this guy who's had a TED talk.
That's amazing.
But one big thing that I noticed immediately with him,
is lack of patience.
And it's something that I had when I was 19 as well.
I talked about the long-term view
in a video a couple weeks ago.
It's something I've only developed recently.
And in today's video I wanna talk about patience.
Patience is necessary to win in the long-term.
For instance, in this project,
we're winning extremely hard in the short run.
In the first week, we sent out 40 cold emails,
and we have interested people,
it's over 30% meeting book rate.
Not even reply rate, this is a meeting book rate.
And our prices are on the site,
so I know everyone that's booked a meeting
at least knows what we charge,
and will pay about $100,000 for this.
So, we've got around $1.2 million in leads generated
in the first week.
I can understand where he's coming from.
Amulya's on this call and he's like,
Alex, why don't we do an amazing blown out case study,
you feature me hard, you say I'm doing all the work,
and you're coaching me,
it could be a good case study for your coaching,
and it could be a good case study for X27,
because this is an amazing cold email win.
And it is.
We generated a ton of interested people,
and if it's a 25% conversion rate,
which I'm assuming it's gonna be even higher,
our entire business is gonna be set up for the year,
from these 40 emails that we sent.
So why am I not showing you the emails?
And why are we not doing this amazing blown out case study
for Reddit, or for anywhere, with Amulya yet?
I'll tell you the same thing we told him.
We can't do a case study until we close business.
Meaning, I can go around all day
saying we generated $100 million in leads,
or we've generated $2 million in leads for this,
whatever it is, it doesn't matter
if none of that turns into cash.
I think there's a much stronger case study
that could be made by just waiting, being patient,
even if it's delaying that gratification by a week or two.
Not to say his hunger isn't awesome.
That's why I said in a previous video,
one of the best things you could do, as you get older,
is tie yourself to the young and hungry,
because those people are the ones that can generate
a million dollars in leads in a week,
because they care enough.
He's here typing these first lines of these cold emails
because I didn't wanna do it.
That was his opportunity.
So, it's fun being the old guy on a project,
but it's also cool to be able to take a step back,
and tell that young person to slow down a bit.
So if we go out and we make a video right away,
where we go through the exact email scripts we used,
we talk about the exact lead pools,
how we came up with the business idea,
how we came up with the pricing,
all of that, before we've closed deals,
one of those potential clients might see it
and get turned off.
Or any number of things might happen.
Somebody else might come in there and start pitching,
and ruin the entire business,
before it even gets a chance to get off the ground.
So, even if we wait two or three months on this case study,
Amulya's still gonna be praised,
he's even praised in this video,
and the business is gonna be a win.
It's not worth doing a short-term case study
that ends up tanking your business in the long run.
I'd also say this is more interesting coming in
now that this is business number two for me,
because for him as a college student,
four months is an eternity.
That's a semester.
That's a million things he could be doing.
But for me, as a grown adult,
who's been an entrepreneur now for three, four, five years,
I understand that that hustle never ends.
It never really goes away,
so it's better to just think a little bit,
and try to drive the boat.
But I remember thinking like that,
when somebody didn't respond to my emails for a day,
following up immediately.
Where now I can a week or even two weeks
without following up,
because I know that people that are really interested,
sometimes are just busy,
and you can play that longer game.
So, he's even pushing me, he's like,
Alex when are we gonna get our first close
for this business?
And I'm going in with experience,
even though a few of these calls have been amazing,
these guys are ready to close right away,
it seems like.
I still tell him,
I'm expecting a close within three or four months.
And we'll get a ton at once, at that point.
But we're not gonna expect a close in a week or two.
Any yeah, we might actually get a close
in the first two weeks.
I'm recording this before we have had a close,
so if you see an amazing case study,
you'll know where I'm coming from.
But I would rather we take four months
to close a deal that's actually gonna be successful,
with this business, than power-close somebody right away,
and end up wasting whatever time we put into that project.
I don't wanna end up with trash with this business.
I only wanna work with people that we're gonna succeed with,
and I want them to be super happy at the end.
If we close the wrong type of client with this business,
and they fail, it's 100% our fault for not seeing it.
Because we sold them something they didn't need.
Patience is key.
Patience, like our friend DJ Khaled says,
♪ We the best ♪
marketing.
- To succeed, you must believe.
Life is what you make it, so let's make it.
- DJ Khaled.
If you wanna see the exact questions
we use on the first call we have with clients
to close new business,
a link to that doc's down on the description below.
And if you wanna help this YouTube channel out,
I would love if you would think of one person
who would get value from this specific video right here,
and send the video to them.
Maybe in an email.
Also, if you run an agency,
and you want more enterprise level clients,
an agency it could be a video production,
you could do mobile apps, whatever you sell that's B2B,
if you wanna help grow that company,
check out experiment27.com.
I'm Alex Berman, thanks for watching.
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