00;00;06;16 - 00;00;30;08

Unknown

Welcome to the Profit First for Real Estate Investing podcast. Every week we bring you top investors and experts sharing how they create clarity, cash flow and consistent profit. This episode is brought to you by simple CFO. Profit first. Profit always. Let's go. Hey, hey, this is David Richter with the Profit First Rate podcast here with another special guest, Jordan Metric, which I'm excited about this one.

00;00;30;09 - 00;00;51;25

Unknown

I've met him recently and at another event that I'm a part of and a mastermind, and Jordan actually works with some people in there. He owns privado and that it's actually about keeping more people on term and not reducing your churn, making sure that you actually keep people for a long time. So I know that this can apply to the mindset can apply to tenants.

00;00;51;25 - 00;01;17;29

Unknown

And, you know, especially if you've got long term people that you're working with and if you're playing the long game in real estate. So Jordan, thanks for being on the show today. So glad to be here. I appreciate you inviting me on. That's wonderful. Yeah. Well I want to dive in. So first, this whole thing, like obviously most business owners that are in the real estate world, they dive in because they're good at real estate and they want to make money.

00;01;18;02 - 00;01;46;27

Unknown

But you and I both know that the long game is recurring revenue and especially retention. So how did you get into this field? Like how did you get into the recovery and the retention, making sure that people are keeping more of the clients that they have? Yeah, yeah. Great question. Well, as my baseline, I have learned throughout my experience that the truest and purest form of business period is recurring business and I'm I always catch some flack for this, but I'll die on this hill.

00;01;46;29 - 00;02;14;06

Unknown

Any any type of business that's a one time transaction is truly a house of cards that could plummet at almost any point in time with any weak link in that chain. So if your bills aren't covered by day one of of the month with your recurring revenue, you're really kind of unstable. And so that's, that's, for me, something that I've always preached for and try to encourage, entrepreneurs and business owners to, like, dive deep into recurring business versus one time because it just gives you so much stability, so much optionality.

00;02;14;11 - 00;02;32;04

Unknown

And for me, started very early as a kid where I was about my dad was a pastor. My mom was a teacher, very financially humble beginnings, family of seven. So, you know, I learned pretty early that we had a great upbringing and all of that. But I realized if I want to get more out of out of life than maybe I had at that time, I'm going to have to do more.

00;02;32;04 - 00;02;52;09

Unknown

I'm after risk more and be more. So start a business is up. By the time I was eight years old. Has actually. Yeah, I learned, like most of us learned a little magic tricks when we were like five years old. I turned that into a career. So for about ten years I was a traveling illusionist, and I did shows all over the place for corporate businesses and schools and various events and those types of things.

00;02;52;12 - 00;03;11;02

Unknown

And then that was really my first foray into, like one time revenue. You'd maybe get a repeat customer here and there. But really, you're selling yourself every single time. A lot. Several businesses beyond that. And then every time I would do a one time business, or a one time sale model of, of a business, it was always like, man, you're you're hunting, consistently.

00;03;11;02 - 00;03;28;07

Unknown

You have to you eat only what you kill. And there's almost no, there's no rest for that. For it. Fast forward all the way to a couple of years ago. I built a sales funnel builder platform on WordPress. So it was, if you imagine, like Clickfunnels on WordPress, and I knew I wanted to exit that. The big challenge came when I was getting all these offers.

00;03;28;14 - 00;03;49;10

Unknown

But then throughout due diligence. So just a various things happened that my churn was eating away at my recurring revenue. So I built up a nice bucket of MSR, which had some enterprise value, in a very, very competitive space. Certainly if you're, you know, kind of going against the sales funnel kings in the market, right? In competing with them, it's a tough space.

00;03;49;17 - 00;04;10;13

Unknown

But we had a healthy business and, and some of these offers like as, as things were going down towards the exit, the churn started eating away. And I was using every tool, every software, every tactic I could to try to, like, figure out how to reduce the churn, to increase the growth profile for the best possible exit, and and it was like the David, like the most stressful 18 months of my life.

00;04;10;15 - 00;04;32;07

Unknown

We had 4 or 5 deals completely fall through 15 pounds of stress weight. My family like didn't even like me at that point. I wasn't sleeping, I was it was awful. And all of just because of this nature of trying to reach this goal, but with this big, nasty devil behind me, which was churn, eating away at the, at this potentially life changing exit, that I was looking for.

00;04;32;07 - 00;04;51;28

Unknown

So it was able to finally exit that by implementing some strategies and then kind of escalated those strategies into an actual productized service, which we now have as risotto. Because I realized if people if founders trying to exit are going through what I did, I never want anyone. I wouldn't wish that on my worst enemies, to go through that amount of stress and anguish.

00;04;51;28 - 00;05;17;25

Unknown

And obviously there's 30 layers below what I just described. But, we knew that. I knew that retention really is the lifeblood. It is the driver of enterprise value. It is the multiplication factor if you're trying to exit. And frankly, your retention strategies, that is how you maintain a profit first position in the market. If you if you if, if all your numbers are upside down and you're going negative, you're going to start to really start to drown.

00;05;17;25 - 00;05;42;24

Unknown

So for for us, we realized retention is critical. Paying attention to churn and and turning that from a negative into a positive is probably one of the greatest things that business owners can focus on. Yeah, no. And I like that. It sounds like this company was born out of a out of a good but very stressful situation. So like you were able to sell eventually, but it forced you to create some systems and processes along the way that you've now turned into the business that you own.

00;05;42;24 - 00;06;01;17

Unknown

And it sounds like this is what your business does all the time now is helping those customers keep their customers for longer to be able to sell in the future if they want to, and that definitely boosts up their their sell, you know, their scalability. Correct. From what the gathering. So my favorite story actually just happened at the point of this recording.

00;06;01;17 - 00;06;25;14

Unknown

But on May 13th we installed into this this 24 year old. This is an astounding story. Not everyone's going to be like this, but this was pretty cool. He got about like a 50 to 60% monthly churn. He was getting a ton of new customers, but a massive churn profile so investors weren't willing to touch it. We were able to install on about May 13th of this year and, over about four months, we were able to reduce that churn profile pretty significantly.

00;06;25;14 - 00;06;44;17

Unknown

You can just see the charts. It falls right off of a cliff through various strategies, both technological, but also, you know, our recovery efforts for recovering failed revenue. It's very human driven. So we're having communications with the actual customers to help them win back to the product. So that helps with LTV and kind of the emotional sentiment around the product.

00;06;44;19 - 00;07;12;20

Unknown

And so actually within four months, he was able to just exit, for a pretty life changing amount of money where previously that just would not likely have been possible. So it's not always going to be that case. But certainly I think the nature of paying attention to retention, I don't care if you're a multi-family real estate and you're thinking about tenant turnover or tenant retention, if you can just if you can move any one of these needles to keep people, keep their butts in seats longer, keep them paying longer.

00;07;12;22 - 00;07;31;22

Unknown

Then you're not worried about focusing so much energy and time and money on top of funnel, or getting new tenants, or getting new clients or customers because you're runway's so strong. In fact, it's it's, it's probably a kind of a it's a it's like a only a lunatic would. Matt wouldn't mention this the statement because it's not entirely possible for everyone.

00;07;31;22 - 00;07;50;14

Unknown

But if you have 0% churn, you don't have to add any amount of money into top of funnel, right? Anything that you add is going to be bonus. It's going to be bonus buyers. In fact, for us, we had 16 straight months of, of of zero churn that we meant and we still maintain under like a 0.5% annualized churn right now for ourselves.

00;07;50;21 - 00;08;12;10

Unknown

So it's just maintaining retention is the key to growth. No matter what business or investment sector you're in. Okay. So then what are some of the biggest mistakes people make that make people turnover or like their clients turnover or what their tenants turnover, you know, like what is it that they're not focused on? I don't know, do you have some big just bullet points that someone take away?

00;08;12;10 - 00;08;35;25

Unknown

Yeah. It's probably the same as like why do people like, like break up or get divorced or like lose friends or like, lose tenants or customers or losing any of these things? Probably. I always say that that churn, deflection or churn prevention begins at customer acquisition. Churn prevention begins customer acquisition. So it's the filtration levels that you bring to to vet people before they get in.

00;08;35;25 - 00;08;58;02

Unknown

So if you're in multi-tenant, the moment that you drop your standards around background checks or, financial ability or like you define this ICP, the moment you step down below that is when you're saying, I'm willing to accept an additional 10% churn. Like for anyone who's going to be within this ICP. And sometimes we'll take will take that money from clients or customers, especially if it's a little monster like, we want to move faster.

00;08;58;02 - 00;09;21;14

Unknown

Maybe we'll sacrifice some of our filters to just to get somebody in the door. But then you're, you're inviting problems in where you, you might have 2 to 3 times the amount of turnover or churn by decreasing or lowering the standard. So I always say keep your keep your castle walls high and just open that gate for the people who are the the perfect person to come and join you in that castle.

00;09;21;14 - 00;09;44;05

Unknown

And I, I've done, real estate as well. And it only takes one really bad tenant to ruin the profitability of the portfolio. And often that that happens when there's a mistake being made when someone comes into the infrastructure. So we always talk about product market fit, but where people get this wrong is they say, I need to develop a product that will get people to buy it, right.

00;09;44;05 - 00;10;06;13

Unknown

Like we want we want the money, we want the sales. We want the clients to build something that they're going to pay for. Reverse architect that and say, who is the very best client that that we want and and architect that person around what it is that that we offer and to make those two things match. Not that we're willing to take money from anyone because that's expensive money and expensive money is going to make you go broke pretty quick.

00;10;06;19 - 00;10;31;17

Unknown

So what always starts beginning with filtration? Step two really, I'd say I always say you have you have one payment cycle to get a result. So if you have like a monthly, maybe a retainer or like a low ticket SAS, doing whatever it is that you're doing, you have one month to give a great experience or at least a, microscopic version of the end result that they're looking for before their second payment hits.

00;10;31;20 - 00;10;51;18

Unknown

So, the mastermind that you and I are both in, they do a phenomenal job during your first month of. They're introducing you to people, they're welcoming you, and they're you're sending you swag. They're saying, happy birthday to you. They welcome you to the group. They connect you with all these cool people. That right there is probably a ten x driver towards retention for them than almost any other lever.

00;10;51;20 - 00;11;12;09

Unknown

And so when you whenever you acquire a new tenant, new customer, client, whatever, that's not where the sales funnel ends. That's really kind of that's where the marketing funnel ends. But the sales funnel, the retention funnel really begins at the point of acquisition, because now you've got a lifelong client customer that you can continue to sell to for life.

00;11;12;11 - 00;11;30;26

Unknown

And that's powerful when you, when you start to think about first filtration and then, as, as you move down the line to get people fast results. Wow them up front. The surprising. Wow. And then third, it's really, I think which we don't need to dive into deep is just the nature of a, a quantified and qualified based ascension model.

00;11;30;26 - 00;11;55;06

Unknown

So instead of thinking about like a menu of all of your products where people could jump into any one, they can often, maybe mis represent themselves or they buy the wrong thing. If a customer gets self-select to buy the wrong thing, they're going to churn. So you have to expect that. So those filters carry on throughout your ascension model where they should start here and go all the way up to here versus jumping all around to these various, positions.

00;11;55;06 - 00;12;17;14

Unknown

So that's my perspective as far as like, a super high level overview of of retention overall, how would a landlord retain a tenant then if they're coming in and it's not like an upsell, or are there upsells or are the things that you've seen or are there things that they could do in order, like you say, like once you've got that tenant and they're in the door and you haven't, let's say you haven't lowered your standards.

00;12;17;14 - 00;12;36;04

Unknown

And so you're at least you know that hurdle. And now they're there in the property. Is there a way to keep them longer term if you want, if you got like your perfect tenant in place now. Great question. There's it's a tenant. If it's like, in annualized agreement, there's still ways to surprise and wow people. I think I think just my own opinion.

00;12;36;10 - 00;12;55;09

Unknown

I think too many real estate investors think that, like, people owe it to them to be there. Right? It's like, I've got the property, I'm the gold, I'm the right, I'm the seller. Right? That kind of mindset, if you if you switch that a bit and you have a retention focused mindset, you're whenever a new tenant comes in, you're going to bend over backwards.

00;12;55;09 - 00;13;17;13

Unknown

What if you help them to move their utilities over? What if there's a beautiful valuable welcome basket when they come in and that's personalized to them? What if you get the names, birthdays of them and all of their kids, you find out their dog's name and you've got like, a doggy basket or something for them. You've got, like, hey, you know, there's, like, look around here, I'm going to check in about a week.

00;13;17;19 - 00;13;38;24

Unknown

What's, what's going on that that you see, I'm going to check in to see if there's anything that's you guys need adjusted or change. Maybe it's an additional carpet cleaning or fresh paint or like, hey, there's just kind of like the the surprise and wow, the wink wink kind of thing, which is like, yeah, if any tenants know or say it's, apartment complex, if it's any tenants or causing you guys any problem, I want you guys to have a great experience here.

00;13;38;24 - 00;14;00;03

Unknown

So here's my personal cell phone. You call me anytime that you need that, I guarantee you they're never going to call you. Like, maybe once when we give this, like, it's the same thing as refund. So if you give this, like discuss the Zappos did the super well this disgustingly huge, completely obtuse refund policy or like open window this open door of like anything you need any time.

00;14;00;03 - 00;14;17;15

Unknown

Here's the path. People never end up using it because they know it's it's they certainly don't abuse it on average. So that's the surprise. And wow, they're not going to get anywhere else. So like imagine as a as an as an investor in every tenant that comes in, you want them to be like in tears by how welcome they feel in your property.

00;14;17;15 - 00;14;34;14

Unknown

How long to support it. And even when things go south, if they miss a payment you get. Almost everyone is too hardcore about this stuff. We we do failed payment recovery and all that, and it's like every time we give people grace and just a little bit of forgiveness and like an extension and it's like, let's help you out.

00;14;34;14 - 00;14;53;22

Unknown

How can I help you get back on track? What can I navigate for you? Almost every time those people come back thanking us, like sometimes very emotionally, for just the extra grace that they needed during a difficult time and like, think how long you're going to keep them beyond that and how many dozens of people they're going to tell that story to out in the world.

00;14;53;24 - 00;15;14;08

Unknown

Tell me you're going to have a vacancy issue with every one of your tenants screaming out about how good your property is. I mean, yeah, probably. Okay, let me play the landlord here. But Jordan, this takes too much time. Like all that stuff you said just sounds like it's going to take me so much more time in order to get this, you know, like, I have to put that, basket and, like, personalize it to them.

00;15;14;08 - 00;15;37;01

Unknown

Like, I've got a business to run. Cost of the alternative. Cost of the alternative. Which battle do you want to fight? Because you can pick one or the other. You can have the really good positive conversations and wow and surprise people and treat them the way that you want to be treated and, and go above and beyond there to very, very, very likely circumvent the pain that you're going to have during turnover.

00;15;37;08 - 00;15;57;18

Unknown

And how many of us you've been real estate investors have like someone misses rent and and they're just because of their experience. They just dig at you. They extend it. They make it awful on you. If there's like evictions going on, they fight it. They don't show up. They like they delay. Everything could be worse and worse. They're being vindictive on purpose.

00;15;57;18 - 00;16;15;00

Unknown

They might just be a vindictive person. Sure, that's possible, but that's a filtration issue, right? So if you dealt with that front and we gave them a wow experience, you can pick which one, which time do you want to do the really negative growth side of continual turnover. And like fighting people for the money that they owe you or surprise and wow.

00;16;15;07 - 00;16;32;00

Unknown

And watch the law of reciprocity come back to you when suddenly something goes, you know, goes wrong. And they don't just, like, completely destroy you. They're they're kind and they're receptive and more gracious to you in the same way. But you the onus of responsibility is on you to kick that off in the relationship in that way.

00;16;32;00 - 00;16;48;23

Unknown

I think, Jordan, I'm the business owner. I can't talk to every tenant. I can't talk to every client. Like, can I put a team in place for this, or does this have to be me? Like to do the wow and the surprise factor? If I'm playing that person, my question would be what if you did? What if you did?

00;16;49;00 - 00;17;10;08

Unknown

What if the, the the the pyramid of business, right? Or the CEOs at the top is not this apex? What if it's a circle and the the person at the top? They're they're just right beneath the clients and customers who are just above them. Right. What if it's a circle? With that, I think what would happen if there's this great app called Bongiorno?

00;17;10;08 - 00;17;26;21

Unknown

Just a just an example. What if every client that came in, you just took two minutes out of your day? That's all it takes. You get an automatic ping. Whenever you get a brand new client, you shoot a two minute video, maybe one that's researched. Your team can do that to find out more about them and give them just a personalized message.

00;17;26;23 - 00;17;41;25

Unknown

If you can do, that's the bare minimum. I mean, it's like if if a new client isn't worth five minutes of your time to make them feel special and loved and cared for, you don't deserve that client. Like, I know I'm hardcore about this stuff. You don't deserve it. Let's get stuff. You can always go more than that.

00;17;41;25 - 00;18;02;18

Unknown

A welcome call and welcome package. You know anything? What would happen if you do my question? All right, I have to pause the episode real quick. If you're a real estate investor who's tired of wondering where your money is going or why you're closing deals but still feeling broke, you need to talk to a simple CFO. Simple CFO is profit first certified and fully endorsed by Mike McHale.

00;18;02;18 - 00;18;30;27

Unknown

It's the creator of Profit First himself. Our team specializes in helping real estate investors finally get control of their cash flow. So you keep your money, you pay yourself consistently and build a business that doesn't run on chaos. We'll help you implement the profit first system the right way. So the financial processes you've been missing and give you a dedicated fractional CFO who actually understands investing and keeping track of your numbers on flips, wholesales, rentals, private lending, all of it.

00;18;30;29 - 00;19;07;07

Unknown

So if you want predictable profit instead of living, deal to deal, head over to simple cfo.com and book your financial clarity call today. That's simple cfo.com. Stop living in confusion and start keeping the money you worked so hard to earn. Now back to the episode. Yeah, now, I love that we actually implemented an orientation call last year with me for all of our new clients at simple CFO and our and it's been it's so good because a lot of people don't use a CFO or I've never used a CFO, so it's like being able to give some training and then some face to face time and then, you know, making sure that they know that.

00;19;07;07 - 00;19;23;08

Unknown

I just had someone recently on a call be like, this is so good. Like, I love that it's you on this call. And like, they know training. She's like, I know I'm not going to work with you one on one, but like to be able to have this type. And I think that's so true to one of our clients has a single family portfolio.

00;19;23;08 - 00;19;41;16

Unknown

So he's not multifamily, but he has single family. And he honestly is a lot of what you're talking about. He does it with a single family portfolio like puts that stuff in, you know, in the new houses and everything. And he's like, hey, I'm the one that actually owns this. You know, you'll be working with my property management team, but I wanted to welcome you and I wanted to thank you.

00;19;41;16 - 00;20;02;05

Unknown

And like, this is really big deal. And like, we've made sure that there's, you know, like that you've got a great house that you're going into. His his retention rate is sick like, compared to like other landlords. He's like almost handpicking the people as they come through and stuff as well. And I'm like, this is awesome. And he's doing this with a single family portfolio.

00;20;02;05 - 00;20;20;02

Unknown

He, he a few years ago he had 25 and now he's more than double dad. So it's not like he has just one or 2 or 3. Like he's very meticulously done this for his, properties. So it's like I can see this, Jordan, that what you're saying can apply honestly to any business like, as long as they're the recurring factor.

00;20;20;08 - 00;20;54;05

Unknown

And then I would also say to Jordan, what about on the fix and flip or the wholesale side? There's probably recurring business there, but maybe more on the buyer side. You know, like they're they need to treat their buyers, you know, like if it's an end buyer who's buying, maybe it's a turnkey flipper who has a way, who has an investor, but they buy it for the cash flow, or they're a wholesaler and they they send to the same flipper and over and over again, would you say that applies maybe on that side, maybe they don't have recurring revenue, but they have recurring buyers almost.

00;20;54;08 - 00;21;12;22

Unknown

Yeah. I mean, and it's almost like the things that no one else does you doing it is what what breaks you into the upper point 1%. So yeah, if someone have a fast transaction with you and even there's like some how many, how many people after they close on a property, it's like done your debt to me. I'd never talk to you again.

00;21;12;22 - 00;21;26;14

Unknown

It's like maybe. Yeah, I'll send you the little magnet with my phone number on it so you can call him if he wants to. What if I checked in after seven days or 14 days, I'd be like, how are things going? Is there anything else that, like, we missed? Do you, like, let me send some carpet cleaners for this thing?

00;21;26;14 - 00;21;43;04

Unknown

I've mentioned that I was like, you know, I noticed the grass might have been a little long. I'm going to send my my, you know, my my crew, my landscape crew out there just to, like, clean that up for you. Those tiny things that cost you under 100 bucks, under 200, whatever. Imagine that because you're doing something that no one else is willing to do.

00;21;43;04 - 00;22;03;08

Unknown

And it's so easy to go above and beyond because everyone is so freaking average. Everyone is doing the exact same thing. The bare minimum. The bare minimum is the average. And I always tell people it's like the same as, if you're earlier on time, if you're on time, you're late. Same thing. But if you're doing the bare minimum, you're doing less than average, right?

00;22;03;11 - 00;22;21;29

Unknown

Yeah. What you're like. Yeah. Yeah. So surprised and welcome to and watch him beg for another house from you. Yeah. That's I love that. That's how you can differentiate yourself from all the other wholesalers out there. All the other flippers. And then honestly, what we're talking about here applies a lot to landlords and how you can differentiate yourself every month.

00;22;22;04 - 00;22;38;15

Unknown

You know, like just a little something out to them or a newsletter or something that just makes you different in their eyes and a good, different don't be a bad difference. So this is really good. I like how you how you've given some very practical steps here. I think one of the biggest things upfront was like you were saying the filtration problem.

00;22;38;15 - 00;23;03;03

Unknown

Like don't sacrifice your standards upfront because that's really the root cause of a lot of problems, is you either lowered your standards or you didn't get your your exact person that you wanted in the door. And I get that if you're just starting out, it might be a little harder because maybe you haven't defined that yet. But this is why, after listening to Jordan, it's so important to define this because you have to have the right people in the door.

00;23;03;05 - 00;23;19;15

Unknown

If especially if your business is built on low churn and you want high retention rates, whether it's, like I said, whether in you're in real estate or if you're outside, if you're a coach, if you're listening to this or something like that, like, I want you to make sure you have these. This is this is really good. Jordan.

00;23;19;15 - 00;23;38;29

Unknown

I really like this mindset. And I love how you tied into into profit first. Like how are you going to be profitable if you can't predict your revenue every month and you've got churn? Hey, that was created the 5,060% churn. Like you, you can't really predict, you know, like what if you have a down month of people coming in, then it's going to be high, you know, churn and you can't predict that as much.

00;23;39;04 - 00;23;56;15

Unknown

And then especially if you're a landlord, you want to be predictable, you want to know what's coming, and you want to be able to know what you have going on. So, Jordan, this has been really, really good. I just have one last question. Then we'll get into like, how can people reach out to you and stuff for the real estate investors listening to this, you've given some great gold nuggets.

00;23;56;15 - 00;24;15;18

Unknown

Is there anything else that you would want to say or any other advice, whether it's business, personal or around retention? Boy there's probably a lot. I just always love to to leave it on more of a, altruistic, notes. But I always want to encourage people to think there's a lot of hustle culture, culture out there.

00;24;15;18 - 00;24;34;17

Unknown

There's a lot of business pros, there's a lot of, hustle at any cost. And I just think, man, you can't take it with you. And I remind that I remind myself of that often. Any time I start to sacrifice, sacrifice what I want for what I really don't want, or for things that don't matter, sacrificing what matters to what doesn't matter is just really dumb.

00;24;34;17 - 00;24;53;15

Unknown

So, you made $1 billion dreams, and that's that's great. You may. You may not, and that's great. But you have to consider all of it's monopoly money. These are just assets. You are a steward you're given. You've been entrusted with assets to be a steward. And how you do that will be how you steward those assets. It's how you're going to be given, more opportunity.

00;24;53;17 - 00;25;11;23

Unknown

Right. And how you treat people and treat those assets. And and again, we talked about this giving a surprise and wow to everyone, whether they, whether they're paying you or not. How do you how do you Gary Vee talks about that like give away $1.10 or whatever the quip is. Right. That's like giving away value to people who even aren't giving anything back to you.

00;25;11;26 - 00;25;30;27

Unknown

The world, the universe, God, whatever you subscribe to, it always comes back to you. But I think while we're here, we can treat people well. We can still do great business, we can still be extremely profitable, and we can have a massive amount of profit first. And still, I think that comes by being being good and honest and integris and, sticking to our word.

00;25;30;27 - 00;25;55;05

Unknown

And I love the surprise and wow in every interaction that we can, we can provide is, is, that's why that's wise words for my for my viewers. Yeah. So, Jordan, what he just told you, if you're listening to this, I mean, if you're especially in the real estate investing space, people talk. So, I mean, if you're going to go out there and you're going to hurt someone, your name is going to be out there and you're going to be known not to work with this person.

00;25;55;12 - 00;26;13;13

Unknown

So you have that working against you. But then if you take what Jordan said and actually say, I'm not going to do the bare minimum or not just like hurt people, but I'm going to go on the other side and do something good. It's like, this is how you get the business that you really want and love. And that's really what we're all about, making sure you have the profitability to do what you love and how do you do that?

00;26;13;13 - 00;26;29;27

Unknown

You've put good out there and you help people and you go above and beyond, which, like Jordan said, is so much easier nowadays because no one goes above and beyond. They're all just doing the bare minimum. And that's where I want you to be able to have that business that you love. Jordan. I thought that was great advice and just a recap again.

00;26;30;04 - 00;26;52;12

Unknown

Number one, don't sacrifice your standards. I thought that was one of the best things because churn begins when they get onboarded or like at that acquisition point, or like when you start that relationship, that's when churn begins. If you're not has, especially if you're not going to treat them well, then that churn they're already thinking about, you know, and then building that business around that retention framework and that mindset.

00;26;52;19 - 00;27;09;21

Unknown

Right. I love what you said. The reverse, you know, like reverse psychology or the reverse engine of like making sure it reverse engineer. That's what I'm trying to say. Making sure that you went begin with the end in mind with them. Like how do I want to make sure that they have the best experience, not just today, but like that they're here 12 months from now.

00;27;09;21 - 00;27;25;10

Unknown

Now, like, what are the things that I could be dripping in and with them that whole time? And I did like how you were, especially if you bought a subscription. And it's like you have that one month, like you've got one month to be able to impress them and wow them. But I also think that goes with tenants too.

00;27;25;13 - 00;27;42;23

Unknown

It's like that first, what he was saying when they first get in the door, what are they saying? What what was that interaction? If there was an issue within the first 30 days especially, how did you train them of how you're going to respond to those issues? You know, especially if it there were legitimate issues that came up right in those first 30 days.

00;27;42;23 - 00;27;57;24

Unknown

So I really like that. And then he said over and over again, surprise. And wow, where can you surprise? Wow. I think Disney called, you know, plus in his parks and plus in everything that he did, it's like, how do you surprise and wow that person that gets in the door. No matter what business you have join. This was awesome.

00;27;57;24 - 00;28;14;05

Unknown

I took a lot of notes. I took a full page of notes here just from that interview. So then how can people get Ahold of you? What's the best website? Is it [email protected] or is there somewhere else or do you want them to follow you? I'm going to put Renato on there, but is there anywhere else that you'd like to send them.

00;28;14;05 - 00;28;42;12

Unknown

Yeah. So we're, do we do just a tiny plug. But I guess I get the most people here are real estate professionals, but specifically for, coaching programs, memberships, SaaS platforms, any kind of recurring billing all the way from five bucks a month to 5000 bucks a month. We manage a completely done for your retention place. So we manage all your field payments, reduce your churn, and we do that as actual humans to reach out to your customers, to win them back with some heart and soul behind it.

00;28;42;14 - 00;29;03;06

Unknown

And we do that entirely performance based. So you don't pay us a penny until after we've already helped you to win. So for those who have, Amarah and they want to can they want to add more of these elements we've been talking about for ongoing retention and increasing LTV. That's that's what we do here. But, also, if anyone wants to reach out to me, say you have a, an internal play and you just need some advice, you need some tools.

00;29;03;06 - 00;29;23;23

Unknown

I've got a bunch of free resources. Take them with my with my my my my congratulations for like the next phase of you increasing your retention and and serving people well, I'd be happy to give any of those resources away so anyone can contact me anytime. I can find you on all the social sites. I'm assuming Facebook, LinkedIn and I go by Gordo on all the socials.

00;29;23;23 - 00;29;41;08

Unknown

So you'll you'll if you see a Gordo with with this face on it then that's that's probably make a nice. There you go. So then that's how you can find him on the risotto. If you've got the recurring revenue and you want to look into this, which is awesome. I love performance based which is especially appealing. So that's a really good stuff and really good set up.

00;29;41;12 - 00;29;57;19

Unknown

If you're also listening to this and you're like, I need a recurring revenue or like, I don't even know if I'm profitable, I don't know where my money's going. I just have no idea what's happening on the back end. That's what simple CFO is all about. We make sure you know what you're making, spending, and keeping so you can keep more of that cash.

00;29;57;26 - 00;30;13;18

Unknown

And that's what we're all about here. So I'll put that I'll put that up here on the simple cfo.com. That's how you can reach out to us if you need that help. So if you're listening to this, thank you so much Jordan. Thank you for being a guest on the podcast today and for bringing a ton of value to the listeners.

00;30;13;20 - 00;30;27;16

Unknown

This is super fun. Thanks, Dave. Appreciate it. That's it for today's show. Be sure to subscribe, review, and share this episode. If you're serious about financial systems and keeping more of your profit. Visit simple cfo.com to take your free discovery call today.