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Why do you think leaders hide from funding their vision?

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And the second part of this question

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was how can leaders lean into funding their vision?

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Yeah, so to answer your first question,

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why do leaders hide from funding their vision?

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I really think it can come from two places.

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One, a fear of taking on obligations

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that they feel like they're maybe going to lose control

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of the vision that they have for their brand

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when more people are putting their hands on the business,

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they maybe feel like their voice

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and their vision will become diluted.

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And then the other thing is that,

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when you think about funding,

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there's a few different routes you can go.

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You can go VC, you can go traditional bootstrap

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where you're spending your own money,

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you can go more like traditional bank loan routes,

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where you're getting a loan from a bank.

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Either way, I think a lot of people think about

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incurring debt when it comes to funding their vision,

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instead of looking at it as a strategic partnership

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and something that can help accelerate your growth.

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So I think that there's maybe just a lot of misconception

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and fear around funding your vision.

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Where do you think that fear comes from per se?

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I think fear comes from the unknown

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because maybe a business owner

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hasn't gone through funding before.

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They have a lot of unanswered questions

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and obviously you don't wanna go to like the bank

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to get your questions answered.

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But what I would recommend is talking to other business owners

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who have funded their vision

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and learn about how did they fund it?

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Did you go VC, more traditional?

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What did that mean for your business?

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And then talk to a few different founders

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who have funded their vision in different ways.

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Try to get real life experiences and testimonials

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from people to help them you make the best decision

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for your brand.

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That's awesome.

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Then Angela, how do you think the leaders lean

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into funding their vision?

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I think exactly that.

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Network with other founders who have funded

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their own vision in different ways,

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learn from their successes,

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but also from their failures or things that they wish

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they would have done differently.

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A lot of the things that are avoidable in business

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are avoidable just by chatting with people

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and learning from their experiences.

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You could listen to podcast interviews

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if you don't have a large network yourself.

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And just learn, try to take in as much information

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as possible to confidently lean into going out

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and seeking funding for your brand,

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be it trying to raise capital

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or going a more traditional route.

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Have you ever gone through that path yourself?

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I have for a different business,

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and I've also assisted people who are fundraising

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through VC, through different rounds of funding.

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And I've seen firsthand how different types of funding

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impact businesses differently.

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And at the end of the day,

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it really depends on what your goals are

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for growing your vision and what type of funding

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that makes sense for you.

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What were the lessons that you learned through that path?

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So one of the lessons that I've learned through

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getting traditional funding for my own brand

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is that you really need to have a plan

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and understand how that money is going to impact

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your business and help it grow.

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For helping clients through fundraising

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through VC and private equity,

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I've learned a little bit more about the different goals

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that those firms have.

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For example, VCs can place a lot of pressure

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on your business, which can be really great

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because you now have the accelerated growth

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maybe that you were looking for.

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But if you don't want that pressure

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and you don't wanna grow so fast and rapidly,

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then maybe something more traditional

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would be great for your brand.

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So it really just depends on,

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do you wanna grow rapid and fast and have some more pressure,

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or do you want to be making regular loan payments

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and have more of a debt incurred

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and have pressure in a different way on your brand?

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So when it comes to the implications

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or the positive things of funding,

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what did that do to your business after that?

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Yeah, so we have talked a little bit about the pressure,

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but obviously there's a lot of good things

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that come from funding as well,

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mainly being able to fund your growth plans,

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especially if you're starting out in business,

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cashflow can be pretty tight for your brand.

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And so when you fund or get a loan for your brand,

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you're able to just sort of grease the wheels

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and make sure that you have enough cash on hand

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to be able to fund your expansion efforts.

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And so that is really where the positive things come from

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when you are seeking funding,

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be it through BC traditional route,

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both of those achieve the same goal

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just in a little bit of a different way.

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That's awesome, well, thank you for sharing that.

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I know I went a little deep into that

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and some of that was, yeah,

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but I think you answered it perfectly, that was awesome.

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Thank you for sharing that, Angela.

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I have one more question for you.

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And that's all on your,

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whatever you know in your field.

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It's a very simple question.

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Angela, what tips do you have for entrepreneurs,

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maybe leaders in what you have learned in marketing?

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And if I can find the question to put on the thing again,

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I just wrote it, yeah, right here.

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Nope, it's not it, that's it.

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What tips do you have for entrepreneurs, Angela?

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Yeah, so my biggest tip for entrepreneurs,

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especially because when you get into business,

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there are so many things that are now on your plate

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and you have to focus in so many different areas.

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My biggest advice is it is okay to pick one lane

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in your marketing and completely own that

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and then expand and grow from there.

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I think that there's a real fear

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that if you're not everywhere all the time, all at once,

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then your brand is going to suffer.

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However, the opposite is actually true.

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When you take the time to really learn and grow

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in one marketing channel,

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you are going to know one,

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what performs well for your brand.

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Two, you're going to have spent the time

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in the right place for your brand,

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so you're going to be making more sales,

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which means you have more money to then go

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and expand your marketing channels.

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So to put a bow on that,

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I'd say it's okay to focus on one lane

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and actually doing that, focusing on one marketing channel

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will set your brand up for even more success.

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What's the other side of the situation?

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What could happen if you're focusing

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on multiple channels at once?

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If you focus on multiple channels at once

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and you do not have a team or the infrastructure

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to support that, you are essentially

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just spreading yourself too thin online.

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A lot of what you are doing as a founder

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or an entrepreneur is setting up everything for your brand.

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So your time is already insanely valuable.

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And so you want to focus on the area

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where you are going to get the most traction

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in your marketing because you're already so thin,

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you don't want to spread yourself even more thin.

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Focus on bringing in more demand for your brand

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and making those sales.

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I want to add to that.

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A lot of times the people have success in multiple channels

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and that not necessarily doesn't have to be a good thing.

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What if your infrastructure is not ready

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to have the growth that comes with it?

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If you, let's say you're handling 10 clients right now

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and that's what your marketing team is doing,

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is getting you 10 clients a month and you can handle that.

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And you started advertising or whatever channels

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you choose and it's 5x, it's 50 clients a month.

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Do you have the infrastructure to onboard

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those 50 clients a month and fulfill it

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and make sure they're happy?

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So you don't want to be growing at a pace

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that you can't handle.

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It can destroy your brand faster than you can expand it.

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That is one mistake entrepreneurs make again

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and again and again.

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Because oh, I can advertise and get X amount of clients

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but can you handle X amount of clients?

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How are they gonna be happy without losing quality

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instead of quantity?

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So I think that's a very big,

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I think thank you for sharing that.

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Yeah, focus on one channel.

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I think you have some thoughts you wanna share there Angela.

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I think I see it in your face.

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Yeah, I just, I love what you're saying

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because it's so true is if you are putting a gas on the fire

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you wanna make sure that you have the ability

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to then service those clients.

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And so by focusing exactly like you said,

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you're on one channel and then slowly growing

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once your infrastructure is in place

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and you have the ability to serve those clients

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that is going to set you up for success.

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A lot of what I do in marketing is focused on one,

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obviously bringing in more people to purchase from a brand

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or become a client.

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But two, make sure that that client experience

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and the followup after somebody purchases is rock solid.

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So then you can maximize what you had already done

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in marketing and get referrals for your brand.

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Essentially, if you are able to create a wow experience

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for your customers and clients,

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they will go out and refer you business.

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And so now all of the time that you spent

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and all of the money that you spent getting that one person,

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they will go out and be an advocate for your brand.

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And so it creates this great network effect.

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But exactly like you said, Harry,

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if you don't create that wow experience,

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now you have somebody working against you

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where they're saying, don't work with them.

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It was a nightmare.

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I did not have a good experience.

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That's not something that you want.

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As a business, you're trying to create great experiences

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for your customers and clients.

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So make sure you have the processes in place

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to support that.

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That's crazy you mentioned that.

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And I had an experience yesterday.

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So I had a team of people coming in

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doing some handyman work in my house.

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And I was starting to talk to the guy.

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He used to own his own company for handyman services.

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And he said, hey, and COVID happened.

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I lost a lot of business.

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So I ended up working for someone else and he does,

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he gives me the jobs and I do it for him.

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Now, I don't know if he's an independent contractor

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or he's on payroll.

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I don't know what it is.

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Either or in the process, what he did was

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there's a sideboards that you're supposed to grab.

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You're supposed to switch one or the other out.

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And he got the wrong sideboard.

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And he cut it in place and put it back in there.

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And in the middle, I said, hey man,

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this is the wrong sideboard.

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And he's like, oh yeah, but it was like $45.

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I don't know, it doesn't matter.

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You gotta go, so change it.

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It's not what you do.

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As a business owner who is thriving

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and making sure a customer's having great experience,

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he overlooked that part and not saying

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that he needs to learn a lot.

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But a thriving business owner would have made sure

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that a customer had a great experience.

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But now in the future, I'll make sure

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that I don't recommend any of those people

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because I do not have a great experience.

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And it was as small as switching that out,

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making sure, hey, that was a great thing.

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Because before that point, he did such a great job

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making sure I had a great experience.

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But until that point, when it was like, oh my gosh,

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you know what I mean, he didn't care about

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what my house looks like or what it looks like.

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So that is that small process.

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And that's the difference between

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buying a Lamborghini for yourself

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and going in a Honda.

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People buy both cars, both cars do the same thing.

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But there's a difference between the experience

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you have from buying a Lamborghini

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to driving it forever in a Honda.

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There's two different things.

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Not a saying either are bad or worse.

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That's people pay for experience when they pay for a car.

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And that's same with digital marketing,

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that's same with any business,

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that's same with any experiences you have with any business.

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And that's what you can charge.

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This much money, you can charge this much money,

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you can charge this much money.

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That's the only difference.

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And most people don't understand that, it's that experience.

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Yes, absolutely.

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I love that real life example

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because I think it's so relatable.

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Everyone has had a need in their home,

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even if they're renting,

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somebody comes in and performs maintenance

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and you can really relate to that experience.

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One, it's kind of annoying

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because you have to set the time aside,

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you have to be home,

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you have to make sure that your schedule is adjusted.

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And so then to have that experience

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be either really great or subpar,

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it really makes an impact.

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And I love also your Honda versus Lamborghini experience.

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There's really nothing stopping you as a service provider

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from that Lamborghini level of service

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when you are helping your clients,

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other than making sure that you have your systems in place.

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That is really what's going to help support you

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and be able to provide that excellent service

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to your clients.

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Thank you for being here today.

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I'm really happy that you tuned in to Vision Pros Live.

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I'm looking forward to seeing your reactions

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as these episodes continue to move forward.

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This is going to get more and more fun.

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We'll have more and more engagement as well.

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We'll invite people to participate in the show

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and thank you for giving us your time and attention.

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Have an excellent time building out your vision

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and becoming a Vision Pro yourself.

