Keeping SOPs Up To Date

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Delivering Pitches to Clients 0:00: Delivering pitches to clients and understanding clients vs. prospects. Mercer defines "pitches" as customized offers delivered one-on-one to clients, while Jeff adds that it's about presenting solutions to the client. Jeff notes that winning business through warm introductions can be beneficial, but it also means that the necessary due diligence and planning may be overlooked, leading to a less profitable outcome. 3:29: The importance of pitching in sales. Jeff acknowledges the importance of pitching in sales, recognizing that it's a necessary step to close deals and feed the funnel. A well-crafted pitch should take potential customers on a journey from problem awareness to solution awareness, making them more likely to choose your services. 7:08: Pitching and proposals in sales. Jeff distinguishes between three phases of a pitch: the discovery call, the pitch itself, and the meeting with decision-makers. He recommends not giving a proposal immediately after the pitch, instead building the solution after the pitch and delivering a proposal 24-48 hours later. 11:09: Customizing pitch decks for potential clients. Jeff describes a common pitching tactic: using boilerplate language with customized examples to make it look like they did their homework, while also showing a personal touch to make it seem specific to the prospect. 14:32: Pitching and sales strategies for small businesses. Mercer’s approach to pitching involves identifying the customer's pain points and proposing a solution that solves their problems, rather than simply selling a product or service. Jeff emphasizes the importance of authority and audience in crafting a successful pitch, highlighting the need to understand the target audience and demonstrate expertise in the marketplace. 18:06: The importance of pitching and audience size in business. Pitching is not about being sleazy, but rather taking the prospect on a journey from problem-aware to fully aware of the solution, often through multiple follow-ups. Jeff suggests that pitching and discovery can increase success rates with unconverted individuals, with audience size determining the number of people reached at any given time. 21:46: Marketing and pitching strategies for businesses. Mercer clarifies the difference between pitching and marketing, emphasizing that pitching involves asking for a specific action (e.g., becoming a lead). In contrast, marketing is more general and builds trust over time. Jeff agrees, noting that a corporate blog post with a clear call to action can come across as pushy, while a more subtle approach can be more effective in building trust and credibility. 25:59: Marketing and sales strategies for business growth. Mercer compares marketing to a map with multiple bridges, each with its unique pitch, to move prospects from one stage to the next. He emphasizes the importance of timing in marketing, noting that asking for a sale too early can harm success. Jeff believes that sales and marketing should work together to create a seamless experience for customers, with marketing providing valuable leads and sales maximizing the value of those leads through effective pitching.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Forecasting Techniques 0:00: Forecasting techniques for businesses. Jeff and Mercer discuss various forecasting techniques for businesses, including using numbers in a spreadsheet to predict future revenue. They discuss the evolution of forecasting and creating actionable plans in organizations. 3:00: Forecasting and planning for business success. Mercer emphasizes the importance of adjusting forecasts based on feedback and measurable results. He suggests that companies should focus on the end result and be open to adjusting their plans to achieve better results. 8:00: Sales forecasting and pipeline management. Jeff emphasizes the importance of weekly sales meetings for accountability and forecasting accuracy. He believes that having a clear pipeline and grading system (A-D) helps to prioritize opportunities and make informed hiring decisions. 12:21: Weekly forecasting and probability in business. Mercer emphasizes the importance of weekly forecasting to stay on track and make adjustments as needed. He emphasizes the importance of using probability in forecasting, as it allows for flexibility and adaptability in the face of uncertainty. 17:27: Forecasting and financial literacy for business success. Jeff discusses the importance of forecasting in business, highlighting the need to anticipate and prepare for seasonal fluctuations in revenue. Mercer finds maintaining weekly forecasts for multiple income streams surprisingly quick, taking only 30 minutes per week. 20:58: Forecasting and decision-making in a business setting. Mercer relies on different departments for information but pulls information manually to better understand the numbers. He doesn't automate the forecasting process because he wants to get his hands dirty with the numbers and think about each one as he types. 24:17: Financial forecasting and planning for businesses. Jeff emphasizes the importance of financial literacy in setting up a financial planning system, citing the need for granularity and regular number-checking to avoid blindly relying on summaries. Mercer offers courses in forecasting through their academy but acknowledges the challenge of getting started and achieving the level of institutional knowledge required for effective financial planning. 28:35: Forecasting for small businesses and entrepreneurs. Jeff discusses the importance of forecasting in business, sharing personal experience and tips for creating a five-year forecast. Mercer emphasizes the importance of having a plan in place for the month, quarter, and year, and encourages listeners to start simple and build muscle by focusing on the plan.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Dealing with Sunk Costs 0:00: Dealing with sunk costs and the sunk cost fallacy. Mercer and Jeff discuss the concept of sunk costs and the sunk cost fallacy. 3:05: Sunk costs and decision-making in business and personal finance. Mercer and Jeff discuss the concept of sunk costs and how it impacts decision-making. Jeff discusses the concept of sunk cost fallacy in business, explaining that it makes sense to continue investing in something if you can afford the next step, not if you're going into debt, or it's not worth the opportunity cost. 6:51: Sunk costs and opportunity costs in business. Mercer describes a feeling of tension and frustration when a project is not working as expected; that tension is released when he lets go and allows himself to see the situation with fresh eyes. Jeff reflects on how his perspective has shifted from saying "yes" to opportunities to prioritizing "no" due to the scarcity of time and resources. 12:53: Recognizing and overcoming sunk costs in business and personal life. Mercer reflects on his past experiences with saying yes to everything and recognizing the importance of disconnecting emotions from sunk costs. Mercer and Jeff discuss the value of coaching in providing unbiased, fresh eyes to help individuals recognize when they're holding onto something that's no longer serving them. 15:32: Marketing strategies and adapting to change. Mercer shares a story about a promotion they ran with a copywriter, where they repeated the same strategy from an earlier campaign with poor results. Mercer emphasizes the importance of being open to feedback and willing to adapt to improve and move forward. 21:11: Agency inefficiencies and poor strategies in digital marketing. Jeff shares his frustration with agencies that lack direction, strategy, and competence in their advertising efforts. Mercer emphasizes the importance of researching and understanding the market's wants and needs to create effective ads. 23:51: Investing and trading strategies. Mercer shares a lesson from trading: the game is not to win all the time, but to keep playing with a good system that gives you an edge. Mercer advises being non-emotional, as the market provides instant feedback on your worth. 28:51: Investing and avoiding emotional decision-making. Jeff discusses the differences between retail and professional traders, sharing personal experiences and insights. Mercer emphasizes the importance of being open to feedback and being wrong, as it solves the tension problem in decision-making.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Reinventing Yourself 0:00: Reinventing oneself. Mercer and Jeff discuss reinventing oneself, with Mercer reflecting on his New Year's resolutions. 1:05: Reinventing oneself for personal growth and success. Reinventing oneself involves changing one's identity, skills, and habits to reach new goals, whether in business or personal life. Mercer shares insights on reinventing oneself, acknowledging the need to break free from past versions and embrace growth. 6:02: Reinventing oneself and delegating tasks. Mercer reinvents his mentality to manage time, unlocking new ideas and implementations. 11:35: Reinventing oneself in business to adapt to changing times. Jeff argues that bigger is better in business due to external factors like attrition and one needs to reinvent oneself every 2 years to stay in business. 15:14: Business growth and delegation. Mercer recognizes the limitations of trying to apply complex business strategies to one's own small business without first acknowledging and accepting one's current situation. 20:51: Business books and their limitations. Jeff discusses the idea of "reinventing oneself" and the potential dangers of emulating negative archetypes like Steve Jobs or Don Draper. He criticizes business books for glossing over challenges and oversimplifying success. 25:06: Personal growth and reinvention through self-awareness and self-improvement. Jeff emphasizes the importance of mindset in business success, disagreeing with the idea of trying to be like Amazon. Reinvent yourself by accepting what needs to change and taking ownership of your mistakes, rather than mimicking others.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Expense vs. Investment Mentality 0:00: Viewing business expenses as investments. Mercer and Jeff discuss the difference between expense and investment mentality in business. 1:17: Expenses vs business investments. They discuss the distinction between expenses and investments in business, with a focus on how they are perceived in the sales process. 4:44: Expenses as investments, time management, and prioritization. Mercer and Jeff discuss the mindset shift from viewing expenses as necessary investments, rather than pure costs. 8:16: Investment mindset in business and sales. Jeff discusses the importance of adopting an abundance mindset in business, particularly with investments and sales. Mercer helps clients see investing in analytics as an investment, not an expense, leading to better sales and results. 14:19: Marketing strategy and mindset. Mercer emphasizes the importance of a strategic mindset in marketing, rather than just relying on tools and tactics. 16:39: Recognizing and addressing bad investments in business. Mercer recognizes and addresses misclassified expenses as investments in his business. 20:34: Mindset and investing in coaching for business success. Jeff reflects on the unsuccessful client vs the successful client and the mindset of viewing coaching as an expense vs. as an investment in growth. 23:31: Investing time and money for personal growth. Mercer shares a real-world example of how he shifted his mindset from viewing a company as an investment to an expense, and then back to an investment again. 28:10: The importance of mindset in business decision-making. Mercer and Jeff discuss pricing strategies, including raising prices without adding value.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Failing vs Being a Failure 0:00: Defining failure and being a failure in business. Mercer defines failing as a natural part of life, happening every day while being a failure is a finality and an identity. Jeff agrees, adding that failing is feedback while being a failure is an emotional identity that can lead to a stopping point. 3:02 Impostor syndrome and comparing oneself to others. Jeff has struggled with impostor syndrome, feeling like a failure despite being successful by others' standards. Mercer has also experienced impostor syndrome, feeling inadequate compared to peers at high-level masterminds. He reflects on the importance of not comparing oneself to others, as it can lead to feelings of inadequacy and a lack of growth. 7:17: Personal growth and success through embracing failure. Jeff reveals his motivation for success: overcoming feelings of failure to reach his full potential. He acknowledges the importance of stepping out of his comfort zone to upgrade his life and achieve his goals. Jeff, emphasizes the importance of mindset and defining failure and success on one's terms. 10:57: Using masterminds for growth and learning. Mercer seeks to improve by joining mastermind groups, and acknowledging his shortcomings while being open to feedback from others. 13:28: Using data to avoid failure in business. Mercer emphasizes the importance of collecting data from micro failures to inform future decisions and avoid getting stuck in a failure mindset. Jeff agrees, highlighting the need for a growth mindset and instinct to make adjustments based on data, rather than relying on a single data point to determine success or failure. He emphasizes the importance of gathering data from various sources, to inform business decisions and avoid failure. 18:32: Embracing failure and finding alternative solutions. Mercer reflects on his past mindset towards failure, realizing he was fueled by it but now sees the importance of being open to feedback and adjusting his approach. He encourages the listener to embrace the idea of admitting when something is ugly and exploring new approaches, rather than stubbornly continuing down a specific path. 21:27: Marketing strategies and failure. Mercer discusses the importance of adaptability in business, citing the example of companies that double down on failed strategies. Jeff agrees, noting that playing to win versus playing not to lose can make a significant difference in success. He emphasizes the importance of understanding failure in marketing, highlighting that it's not just about personal failure but also failing to connect with the target audience. 25:33: Reframing failure as progress. Mercer discusses the importance of reframing failure as a necessary step towards progress, rather than a personal setback. Coaching support from others who are detached from the outcome can provide valuable insights and help reframe failure as a learning opportunity. 27:46: Failing vs. being a failure in business. Jeff believes the best coaches find good in what you say and lend advice on how to improve. Mercer ends with: "Don't be afraid to ask for help, and keep learning from failures."

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Teaching Old Dogs New Tricks 0:00: Staying up-to-date in business as an experienced entrepreneur. Old dogs learning new tricks: Staying fresh, and open to new ideas while leveraging experience. 1:13: Adapting to new technology while preserving old methods. Jeff emphasizes the importance of updating one's mindset, skill set, and business strategies to stay competitive in a rapidly changing market. He grapples with the tension between sticking with tried and true methods versus embracing new technology, acknowledging that both approaches have merit. Mercer acknowledges the benefits of automation and AI but is hesitant to switch from a legacy platform like WordPress to a newer one without a clear benefit. 4:48: Using AI and upgrading tech stack for business success. Mercer and Jeff discuss the concept of "move fast and break things" in the context of business and innovation. Jeff shares examples of how Facebook and other companies have adopted this approach, including introducing new products and features despite potential risks. He also highlights the downsides of breaking things, such as losing valuable resources or alienating customers, and how maturity and business stage can impact this approach. Jeff discusses the importance of reevaluating technology stacks every 2 years to stay up-to-date and efficient. He mentions using Kajabi as an all-in-one platform to replace his WordPress system, highlighting the need to adapt to new tools and systems. 10:02: Evolving business strategies and team management. Mercer discusses the importance of evolving with the market and staying up-to-date with industry trends, even for lower-level team members. Jeff shares how he addressed a lack of project management skills on his team by investing in software, training, and up-leveling his team's skills. 11:57: Staying up-to-date in the digital marketing industry. Jeff discusses ways to stay up to date with industry changes, including newsletters, YouTube, podcasts, and networking with other professionals. He emphasizes the importance of resourcefulness and taking action to learn new techniques, rather than simply relying on surface-level information. Mercer recommends paying attention to emails from Google and other providers for important updates and changes. 15:56: Evaluating and improving marketing strategies. Mercer discusses the importance of constantly evaluating and improving marketing tactics, by asking yourself if the current approach is still the best possible way to achieve goals. He highlights the need to stay up-to-date with the latest tools and technologies, such as automation and first-party databases, and to continuously measure and evaluate their effectiveness. He also emphasizes the importance of asking probabilities-based questions to determine the potential benefits of investing time and resources into new tactics or approaches. 18:54: Data-driven marketing and analytics. Jeff discusses the changes in Google Analytics and how it has become more of an analyst tool rather than a marketer's tool. He expresses frustration with the new interface and the need to become more deliberate about data collection and analysis. Jeff emphasizes the importance of data-driven decision-making in marketing, citing examples of how external factors can force a company to adapt and change. Jeff shares his personal experience of using data to identify changes in open rates and click-through rates, and how this led him to adjust his marketing strategies. Using data and feedback to improve systems and decision-making. 23:54 Mercer emphasizes the importance of using data to make decisions and having feedback loops in systems to improve them. He suggests asking "What worked, what didn't, and what's next". Mercer stresses the importance of evaluating what works and what doesn't in various industries, and how AI can assist in this process. His company uses a weekly process to evaluate what worked, what didn't work, and what's next, which has helped them navigate through changes in their industry. 27:15: Business growth and adapting to change. Jeff discusses the importance of indicators to identify when change is needed. Old dogs can learn new tricks with data-driven insights.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Developing a Financial Runway 0:00: Financial runway for businesses. Mercer defines financial runway as the amount of time a business can keep operating with its current expenses, based on the amount of money it has in the bank. Jeff agrees, adding that he measures a financial runway in terms of time, such as months or weeks, to determine how long a business can continue operating if revenue drops to zero. Mercer mentions the idea of a "financial runway" and how it's evolved over time, with a goal of having enough money to invest in the business without being too conservative. Jeff shares his own experiences with hiring employees despite not having the full salary amount in the bank, taking calculated risks to grow the business. 4:26: Financial planning and emergency funds for a business. Jeff uses a 3-6-12 month runway guideline for aggressive hiring, considering payroll expenses as the biggest factor. Mercer prioritizes having enough runway to figure out the next step if everything goes down to zero, with a goal of at least 2 weeks of payroll coverage. Mercer discusses his approach to financial management, prioritizing long-term stability over short-term gains. He views financial management as more than just revenue, including credit card limits and emergency funds. He believes in setting up multiple sources of finance to extend his financial runway, rather than relying solely on cash reserves. 9:32: Financial mindset and risk management. Jeff discusses the importance of maintaining a conservative financial mindset, even when thinking that it's unlikely to go to zero. He emphasizes the need to balance being too conservative with being aware of the potential for unexpected events, such as a black swan event. 11:18: Financial runway and risk management for businesses. Jeff discusses the challenges of managing expenses during a pandemic, highlighting the need to adjust one's mindset from "it's going to go to zero" to "there's always a chance it could go to zero." Mercer agrees, noting that big, high-ticket expenses like payroll can be particularly challenging to manage during uncertain times. He emphasizes the importance of being aware of the possibility of revenue going to zero while also building reserves and managing expenses. 16:15: Financial runway and risk management for small businesses. Jeff discusses the importance of runway for small businesses, emphasizing the need for redundancy and backup plans to survive setbacks. His approach involves considering how many months of living expenses he has, as well as how many pieces of redundancy he has to see his business through to completion. 20:13: Financial discipline and business success. Jeff discusses the importance of iterative approaches and learning from mistakes in business and sports. Revenue growth in business is unpredictable and can happen slowly or quickly, and spreadsheet projections are often inaccurate. Financial discipline is key to success, as it allows for controlled spending and revenue growth. 23:30: Managing business reserves and financial discipline. Mercer reflects on growth and reserves, it’s harder to save three months of expenses now than five years ago. Jeff expresses frustration with the "curse of more," where having too much money can lead to overspending and depleting reserves. He suggests having a financial discipline plan in place to avoid this scenario, including setting a target number of days for reserves and regularly reviewing and adjusting the plan as needed. 26:33: Financial runway management for businesses. Jeff emphasizes the importance of making more money through sales and controlling expenses to ensure a business's financial success. Mercer agrees with the idea of momentum and accepting where a business is in its growth stage, with a focus on proper number analysis for decision-making.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Hacks for getting your time back 0:00: Time management hacks for entrepreneurs. Mercer and Jeff discuss hacks for getting time back, with Mercer emphasizing efficiency and maximizing potential, while Jeff questions the need for time hacks. Both agree that time is a scarce resource, and they share strategies for gaining control over it, but Mercer acknowledges that arriving at a state of complete control is unreachable. Mercer plans to conduct a "mental reset" by listing out all tasks and determining which ones are still relevant, delegating some to others, and finding ways to increase efficiency. The first step is to list out all tasks and have a conversation with himself about what should be continued, stopped, or delegated. 3:39: Time management and productivity for small business owners. Jeff reflects on his time management and realizes he has shifted from a balance of "maker schedule" (creating) to "manager schedule" (meetings and management), leading to decreased productivity and happiness. He plans to rebalance his schedule to prioritize "maker schedule" tasks and regain momentum, to feel more productive and in his zone of genius. Jeff recognizes the need for strategic time management and self-managing tactical people and reevaluating the role of management in the process. Jeff considers alternative approaches to management, such as hiring gig workers or focusing on discrete projects, to optimize productivity and profitability. 7:34: Managing meetings and reducing unnecessary ones. Mercer discusses the issue of too many meetings and how they can create more work, rather than getting things done. To address this, his team implemented a rule that meetings must have a clear agenda and cover only the most essential topics, with any additional ideas or topics not included on the agenda not being discussed. This simple switch helped the team become more self-managed when it comes to meetings and eliminated the wandering and tangential discussions that can occur without a clear agenda. 10:26: Meetings as a form of management and training. Jeff acknowledges that meetings can be a form of management and on-the-job training, but also recognizes that they can be inefficient and lead to a time suck. He suggests that sometimes a meeting could have been an email or message instead and that it's important to figure out the most efficient way to communicate and manage team members. 13:02: Streamlining meetings and reducing unnecessary ones. Jeff consolidated recurring meetings into one weekly meeting to free up time and focus on his zone of genius. Mercer uses 15-minute headline calls to stay organized and efficient, with a different agenda for each call to keep everyone prepared and on track. 15:29: Time management techniques for productivity. Mercer emphasizes the importance of assigning tasks with momentum, rather than just assigning them. Mercer is now adopting the technique. Jeff suggests using a whiteboard to brainstorm ideas, which can be batch-produced into a spreadsheet for later use. Jeff's process involves writing down ideas, adding notes, and then riffing on them during a 30-minute walk to flesh out content. 20:45: Time management strategies and delegation. Mercer discusses the importance of time management, particularly in delegating tasks. He highlighted the need to measure where time is spent and list tasks to delegate effectively. Both speakers emphasize the importance of strategic thinking when it comes to time management, rather than simply using tools without a clear plan. 23:46: Quarterly off-the-grid time for personal growth and data capture. Jeff recommends spending at least one day a quarter off the grid, away from work and business responsibilities, to focus on personal happiness and problem-solving. He uses quarterly off-the-grid time to write down on paper or whiteboard what makes him happy and what the solution is, rather than relying on digital data capture. Jeff believes investing in automation and AI can save time and increase profitability, allowing for double the efficiency and profit. 26:38: Business strategies and hacks for productivity. Mercer likes the idea of taking a week-long break to disconnect and think and has found value in attending conferences and events to generate new ideas. Mercer shares an anecdote about staying an extra day and finding it helpful for capturing ideas and maintaining momentum. They plan to discuss financial runways and spending money in a future episode of the podcast.

Welcome back to Business Unfiltered with Mercer and Jeff Sauer today's topic is Goals for 2024 0.00: Mercer and Jeff Sauer discuss their goals for 2024, including holding themselves accountable through podcast form. They organize their goals into buckets such as financial, business, and personal, and plan to share their progress throughout the year. Jeff emphasizes the importance of continuous goal setting and execution, rather than setting new goals each year. 3:12: Personal growth and family goals for 2024. Jeff wants to reestablish himself as a brand by starting a personal YouTube channel and being more authentic online. His personal goals include taking his family on a trip every quarter and separating his personal and business life. 5:54: Personal growth and business goals. Jeff delves into business strategies, the power of prioritization, and a visionary 10x idea of "service stacking." Mercer desires to work on his need for control, accepting that some things are out of his control, and improving his relationships through self-reflection and growth. Jeff discusses the importance of taking time to think and listen, and how it can lead to better decision-making and a more productive workweek. He aims to do less in 2024 than he did in 2023, as the team was overworked from too many projects. 10:57: Business strategy, prioritization, and 10x ideas. Jeff plans to write a book on "service stacking" and selling coaching and continuity programs. 14:15: Marketing strategies for a business. Mercer discusses the importance of creating lower-ticket offers to reach a wider audience and increase sales. He aims to triple down on lower-ticket offers and improve targeting to solve marketing challenges. 16:33: Business goals, marketing strategies, and monetization models. Mercer and Jeff discuss their tendency to overcomplicate things and add their spin to ideas, rather than simply following instructions. They both acknowledge the importance of changing their relationship with their audience and being more accepting of others' ideas. Jeff discusses his business model shift from courses to more free content with sponsorships and affiliate offers. He aims to be more vulnerable and real, while still providing value to his audience. Jeff believes this change will allow him to be more useful to people without requiring direct payment. 22:12: Business growth strategies and brand development. Mercer wants to explore new options and find new ways to bring in revenue and exchange value between his business and the marketplace. He is interested in the concept of sponsorship deals and emailing a list to promote a product demo or vendor talk. Mercer is launching a new brand called Automated Profits.io in 2024, which will focus on other business systems entrepreneurs need help with, in addition to measurement systems. 25:09: Podcast goals and alignment. Jeff wants to keep the podcast light and enjoyable, with relationship-building as the primary goal. He is not actively trying to monetize the podcast but rather sees it as a way to build their brand and establish a connection with their audience. Jeff is focused on creating content that resonates with their audience and doesn't feel the need to pitch services too heavily, instead relying on anecdotal conversations and word-of-mouth. Mercer and Jeff are aligned on their goals for the podcast, including building a relationship with early adopters and growing the audience through organic means.