Loading summary
Transcript31 lines
- [00:06]
A
Wake up. Your competition is asleep. It's you against the world. And if you want to win, we need to get a few things straight. Your business is a mental war. Your success is a mental war. And making money is a game. And the game of money starts in your mind. This podcast exists to help you weaponize your brain through advanced marketing mindset and money concepts. To have what others don't, you need to know what others won't. Your future fortune awaits. Welcome to the War Plan podcast. Hey, my friend. Welcome to the War Plan podcast. Josh here. I'm joined by my oldest son, Maverick.
- [00:45]
B
What's up?
- [00:46]
A
And we're gonna make you a bunch of money. Do you want to make a bunch of money? This is the right podcast. We're gonna talk about frequency, subscription psychology, captive customers, and a bunch of other cool stuff just to get your wheels turning. Look, we always say you make more money with your brain than you ever will with your back. Our mission is to help good hearted people make more money by thinking different. Our mission is to build small communities of good hearted people helping each other make more money by thinking different. And here's some food for thought. So the FRAP formula, the first letter, F, stands for frequency. You want to make more profit, you want to scale, you want to hit eight figures. I don't care how big you want to go, frequency is a game changer, even if you want to have a small artisan business. And so I just had like a group coaching call that we run once a month and we were talking about this and people just found it fascinating. So I thought, you know what, let's hit this here too. So think of, think of frequency as like the umbrella. Now underneath of it, there's four different moves you can consider making that will increase your frequency. They're frequency adjacent, frequency related. They're frequency things to think about that will get you more money. Do you want more money? Look, how do we get people to buy more? Often the first thing to kick it off is why do we care about frequency? The reason we care is because frequency manipulation in a business, it's like owning a time machine that's connected to your bank account. When you have the right flow, the right script, process, protocol, system, you have the right choreography in your business to pull future money back from in the future, back to today. It's a superpower. You could have a million dollar restaurant that could become a $2 million restaurant just from doubling the frequency of the restaurant if an average customer eats there once a month. And we can use our Creativity to get them to eat there once every two weeks. If that's your new average, you've doubled the business just through that thing, Right? And so depending on the kind of business you have, it depends. Subscriptions are a big part of this right there. Sequencing their seasonality, their subscriptions and their soap operas. And I'll just kind of break these down, but like, let's just go right in the middle, like subscriptions. This is kind of like the talk of the town. And home services, a lot of our customers have home service, but we also have, you know, restaurants and chiropractors, lawyers, we have a optometrist and we have a movie theater chain going through our frapp trainings and stuff. So it works differently for each of those industries, but it can work for all the industries. Do you have a subscription? Why would you. And if you do, are you thinking of it all the way, all the creative ways you could. Because a subscription, it could be paid or it could be free. Maybe it's not even really a subscription, it's a membership. But it achieves the same goal as having a subscription, which we'll talk about in a second. You could have a club, you could have a diamond member. There could be levels, like there's different ways. You can have a punch card, you could build a passport. Shout out to Cynthia. She's in our program. She sells crafts and she does little craft hands on trainings at her brick and mortar local store. And in, in this small town, right. And she's making more money with frap. What is it for you? Like, do you have a membership, a subscription? Do you have something? Because it's not really just about making money. Like the real purpose of a subscription. At least in corporate consulting, these big fancy people, what they call it, like the, the benefit of it is what's called creating a captive customer. Now I'll put Maverick on the spot because he has no idea I'm going to ask him this. He just turned. How old are you again? You're 11, right?
- [04:25]
B
Yeah. Just turned 11.
- [04:26]
A
No, he's our oldest son. He just turned 19 years old and he's awesome and he knows business. He hears me ramble about this stuff. But what do you think? I mean, when I say captive customer,
- [04:39]
B
the first thing I think of is just like they're knowing of you. Like, I don't even know. I don't know.
- [04:45]
A
Well, let me fill you in. It's okay that you don't know. So a captive customer is when someone is out of the market, they're not looking for your replacement. They're like trapped in a good way inside your business. You don't have to physically tie them up and throw them in the basement. But what a captive customer is, is someone that's not shopping around anymore. So like for me, when I travel, I have an app with Enterprise Rent a Car. I don't look at the prices of other rent a Car places because I'm part of a loyalty program. I accumulate points. I'm a Business plus member. When I check in to get my car, I have a special line that's just for the Business plus people, right? And like any business can have a version or a variation of that thing. And the reason it's huge, the analogy I like is like if, if you service a customer like once a year, it's like you're dating them. If you put them on like a twice a year service plan or something, it's, it's like you're, that's like your day. I guess once a year is like, it's like a one night stand. If you put them on a service plan twice a year, that's kind of like dating them. But if you enroll them into like your diamond membership or loyalty program or the subscription of whatever, that's like being married to them. Meaning they're not like actively looking for who to be in a relationship with from a business perspective, right? And so you might make money from your subscription and you might not, but the benefit of it is they're no longer looking. You've taken them out of the market. This is huge, right? I don't even shop around for my rental car. Now, if Enterprise ever offended me or screwed me over, you know, I could leave, right? But they don't. And they're nice and I like them and I get points and I get free rentals. And you know, I don't, I don't overthink the math. I just go there. It's not even a thought in my brain. And so like Bob the window cleaner, for example, what you were talking about, Mav, if he cleans someone's windows for 100 bucks and then enrolls her in the perfect clean window all the time pack program, she's not like looking for another window cleaner. So even if someone knocks on her door and they're like, it's Timmy's window cleaning and it's only 75 bucks, she's like, no, Timmy, I'm good. I'm all set. That problem solved. And it's not about saving 20 bucks. She's just Kind of like already in. You know what I'm saying? That's the purpose of a subscription and what a subscription does, it just increases the frequency of how often someone gives you money. And the money is one part of it. It's a big part because you can sell your company for more if you have really serious income from subscriptions. But the other part of it is they see your company every month when they get a little charge on their card, right? They like, you're top of mind more, you get more referrals, they defend your honor more. They're like, they're a cool kid in the cool kids club with your program, right? And so when we think about frequency, that I think that's an interesting way to look at it. And again, we had sequencing. We have subscriptions, we have soap operas, and we have. What one did I miss? We have sequencing. Oh, seasonality, Seasonality. You know, as of the recording of this, which is in the springtime, like, do you have like promotional campaigns like already figured out, like for fourth of July or Thanksgiving or Black Friday or Christmas or New Year's or whatever? I mean, most people don't, but they're losing a lot of money. The call I just got off of 10 minutes ago, a guy made $40,000 during the worst time of year from one seasonal campaign. He ran an email promotion. He did it clever. He did it frappy. He follows our training. He made 40 grand for free. It's free. He sent words to people through the Internet and made $40,000. That's what frequency is. He got his customers to book faster than they otherwise would if they were left to their own devices. I'm just fascinated by this because it changes the economics of your business. It's super freaking awesome. And then what, what, what sequencing means is like everything in your business already is a sequence. The problem is, is that our sequences aren't very good. Like, we don't do enough of them and we don't do them awesome enough. So when you get up in the morning, the way you brush your teeth is a sequence. It's a system, right? The way that you onboard your employees is a sequence. The way that you cross, sell, upsell, uh, the way you explain your high ticket off offers or all the other other additional products or services you sell to your customers. Like, however, the way is that you do that right now is a sequence. The reason I want you to think about it is how do we more better it? How do we more better it? How do we do it more? And how do we do it better. And how do we live in the more better loop as long as we can? You know, Alex Hormozi talks about more better new. I love this framework because it's like if you have something that's good, like maybe you ask for referrals and then people are like, oh, okay, yeah, I'll keep you in mind. That's good, not bad. It's better than not asking, right? But we're not done. We're not done. We got a more better it. How do we ask more times throughout that customer journey? Like, what's the maximum amount of times we can ask? And then how do we ask it in a better way? In a purple cow pattern interrupt way that makes them belly laugh? How do we ask them at the exact moment after we wowed and delighted them so that like the likelihood of them referring goes up because they're at peak dopamine hit when we ask them in the purple cow. You see what I'm saying? Like, we can more better, more better, more better with everything in our business. You might send an email and say, hey, we're 10% off. It's like, who cares? It's white noise. We need a sequence, we need a campaign. We need a better subject line, a better hook, a better offer, a better bonus. We need a logical justification on why the campaign's happening now. And like people misunderstand how much more money you can make when you go deep on these frappy things. I'll give you another real life example. The call we just got off of Josh Schiffman, who's he's one of our decentralized coaches. He also runs an eight figure business. He's a very smart person. He's working with a small company. I think he said Tennessee. Maybe I'm wrong in that. And they ran like an email campaign in March of last year. And for the whole month they got nine sales from their email campaign. Well, Josh Shiffman, knowing how to get frappy with it, knowing all these awesome nuance things, he knows how to more better stuff. He helped them recreate that. The email campaign. He made it awesome. They just ran the same exact thing. Well, not the same thing because they changed it, but they did the same play. They emailed their customers. This time they did 192 sales halfway through the month. 9 sales for the whole month of March last year. 192 sales, 50% through the month. This year, that is over 20x more by thinking different, by being fra. Can you believe that, by the way? Maverick?
- [11:09]
B
I. I Can. Because FRAP is just that cool.
- [11:12]
A
It really is. It's crazy. We hear stories like this all the time. It's kind of like. It's almost like my kids are just like, yes, dad, we get that you said FRAP again, but it's real. It's really real.
- [11:22]
B
Desensitized to it. We hear FRAMP every day. It like goes to the back of our minds. But like, then we're at a restaurant and we're like, oh, that's frap. That's blah, blah, blah. And then we forget, like, that's not normal. Most people don't know this. We need to spread the word on what FRAP is.
- [11:35]
A
Yeah. And people are either cross selling and upselling. They're either having good choreography or poor choreography. The price is either premium or it's not. The language, the words they use, the packages, the way they're named, how many times it rang before they answered the phone. The tonality, the voice, inflection. Everything is marketing. Marketing is everything. And I say this not to, to overwhelm you, but to impress upon you that you can make a lot of money by thinking different. And if it feels overwhelming, it's only because you're living on an island. This stuff is actually fun when you start implementing little bits of it in a group setting. Which is why we're launching FRAPP chapters. These little chapters are popping up all over the place and it works. Can you imagine helping another good hearted person change their bank account? We have a lady in our program named Suzanne and she had a million dollar business, but she was making 0,0. The business economics were all messed up. She started crying two Mondays ago on one of our calls and she was just super vulnerable and super sweet. And she's like, josh, I realized this morning that I haven't looked at my business line of credit in six months. Ever since we started implementing FRAP and using Profit Academy, which is our software that helps you do FRAPP in these FRAP chapters. In six months, she hasn't had to touch it for like the first time ever she started crying. She said her marriage was on the rocks because of all the pressure and all the noise. And that's what fires me up. And I want you to get fired up. So do all the frequency frappy things for yourself, accumulate some proof that it works for yourself, and then let us certify you in FRAP so you can launch a local mastermind group, a FRAP chapter. You get paid really well to do it. It's fun. And everyone in your chapter Is referring work to you locally. It's like the triple dipper. Amazing. Awesome thing. In conclusion, I want to ask you, Maverick, about your entrepreneurial journey. So you grew up with weird parents that talk about weird things. Very weird.
- [13:34]
B
Super weird.
- [13:35]
A
Yeah. Yeah. You also had your first business when you were seven. And tell that story. I just think it's really, really cool and maybe it'll encourage some other families that have young kids.
- [13:45]
B
Yeah, so I hated it. I didn't want to do it when I was seven, but it literally changed my life. So imagine seven year old tiny little kid whose self esteem isn't the greatest. I mean, I have awesome parents, but like I hadn't achieved anything. There's no proof. Like how could I believe myself without proof if. If I believed in myself? That's just arrogance and cockiness because it's like not real. And he found some gumball, like, or what were they? Just candy machines at like a garage sale. And he gave me a 500 loan which was to just get all the resources, get the candy machines and to just start this little business. And I hated it. I was like, I didn't want to do the work, I didn't want to put in the time. It was scary. I was seven. There was adults I had to go talk to. But he made me do all of it. Now getting older, he tells me stories that he helped me out way more than I thought. And my little like child mindset.
- [14:36]
A
But we purposely like made you feel like it was all you.
- [14:38]
B
Yeah, and I do. But in.
- [14:42]
A
And you did. Like we didn't. Just to give context. I made Maverick memorize a script when he was seven. Okay. He had a work shirt, a work hat and a script. And he would memorize it until he would cry. Now that might make me sound like a bad dad. It wasn't like boiler room hardcore. I was just like, no, it's not good enough. Mav, you're not ready. Say it again. Do it again, do it again. He's like, I don't want to do it. And finally he had it. And then I would drive around and drop him off and he would just walk into businesses by himself at seven and like ask to speak to the manager to play. Do you remember that?
- [15:16]
B
The look that people would give me. First off, I don't know how many of you remember being a kid, but like you get ignored so much. I would sit in there for a long time just to talk to the people there, because they would just ignore me. They thought I was like waiting for my mom or something. And I would sit there staring at them and eventually they'd be like, hey. And I'd be like, hi, my name's Maverick. I'm blah, blah, blah. Could you, could I put my can machine? And they're like, let me get the manager. And they said no like a whole bunch. And I thought. And you said like, oh, they're definitely going to say yes because there's like no way they could say no to a kid.
- [15:50]
A
He's wearing a work shirt that says Maverick's Candy Company. Wearing a hat that says Mavericks Candy Company. He's adorable. Seven it was right before you turned eight. So this happened when you were seven going into your eighth year and 25 businesses you went to to get five machines, placed that many. Yeah, 25 businesses to get five. And technically you only got like two or three. I got one at the Tire shop for you and we got a hair salon for you and then one we kept at our office. But you placed two. Really? You are two for 25 and people are monsters. How do you say no?
- [16:25]
B
That's terrible. Right? I mean I, I just recently did door to door, like gutter sale selling for a friend. And it might have been. I, I just, I'm learning I'm not a salesperson. It kind of kills my soul. But it was a great learning experience because it's so hard. Like it's so hard and it just gives me so much more respect. But that's just like an upgraded version of what I did when I was seven. It builds so much confidence in you and you just learn so much.
- [16:55]
A
And we, if we would have thought of it this way back then because this is what like 11? No wait, more than that. Like 12 or 13 years ago. Yeah. The newspaper did an article on Maverick's candy company. He ended up selling that business. He had an exit at 8 years old for $1200, which was so cool. Plus he made money every week on Maverick Monday. We'd go get quarters out of the machines and like he opened a bank account and like it was such a transformational thing. But if we would have applied frap to the business.
- [17:23]
B
Oh, we could kill we. If I actually like with, if I went back to my 7 year old body with my frat brain.
- [17:29]
A
Yeah.
- [17:30]
B
We would conquer the tri state area of where we were at with this candy machine business. We would have killed it. Like duping like we. I would have systematically taken out every other candy machine kids company and my face would have been on everything.
- [17:45]
A
Yeah. There's so much we could have done, like, with choreography.
- [17:48]
B
Simple. And me with no money at 7 years old, could have actually did it literally, for real. 100%.
- [17:55]
A
Could have had a $2,400 exit, man. Yeah, man. You could have been set for life.
- [18:01]
B
Well, we don't lope around on the past. I just got to try again.
- [18:05]
A
Oh, man. So cool. So anyway, hopefully this was useful to you. If you have kids, teach them entrepreneurship. You know, it's. It's not about just building a business. It's about who you become while you're doing it. And that sounds like a cheesy personal development quote or something, but it's really real. Are you the same person right now that you were five years ago? I doubt it. You're massively leveled up, I hope. And if you've been stuck for a while, that's okay. We can turn it around. We can change it, right? If you haven't connected, like with us to like, get involved in what we're doing, we're building a movement. We have all these people all over the world that are getting frappy with it. It's fun. You make a lot of money, you can help people, but you got to reach out. Go to warplan.com or go to frapchapters.com you know, schedule a 15 minute call with Leslie on my team. She doesn't bite. She's a mom. She's super sweet. She knows FRAP like the back of her hand. We'll tell you if it's a good fit or not and just explain all the different things we can do to help you. So that's all I have. Mav, do you have any final words of encouragement?
- [19:06]
B
Yeah, just stay frappy and God bless and we'll see you later.
- [19:10]
A
Love you. Bye. Hey, do you want to weaponize your brain and go all the way with profitability? Are you finally ready to apply FRAP to your business? Look, you might think you understand, but you don't. When you get in community, you get in proximity. Belief is transferable. There's power in these groups. Go to frappchapters.com and you can figure out if running a FRAP chapter is for you. And if not, join a frapp chapter because there's more power in community. If you're Ready, go to frappchapter.com.