Preston:
Hiya and welcome again to a different episode of Freelance to Founder. My title is Preston Lee with millo.co and becoming a member of me on the air right now is my good pal Clay Mosley from getdripify.com. Hey, Clay.
Clay:
What’s occurring man able to document you recognize, simply hustling after which chasing a child round. It’s what I’m doing.
Preston:
Which is extra tiring? That’s what I need to know: operating a enterprise or being a dad or mum to an eighteen-month-old?
Clay:
The child. Ah oh that by far 100 x.
Preston:
Ah, however which is extra rewarding am I proper? Yeah, it’s completely price it. So and properly good. We’re joined additionally by our new pal Dave calling from Washington the state hey Dave doing properly thanks for calling in right now. We actually admire it. Dave why don’t you inform us some.
Clay:
Sure.
Dave:
Hey the way you doing.
Preston:
Just a little bit about your small business stroll us by way of what sort of work you’re doing what your shoppers seem like and type of paint us an image.
Dave:
Yeah, so our enterprise it’s a household enterprise. It’s myself and my 3 sons um, my oldest son is a product supervisor with with an enormous sport firm and.
Dave:
My center son is a senior Android developer and the youngest simply graduated from school together with his laptop science diploma. So between all of us we’re a bunch of techies and when we have now our once we ham our household dinners which we attempt to do. However as soon as a month um my spouse at all times teases us about our nerd speak.
Clay:
Sounds prefer it.
Preston:
I I believe I missed I believe I missed what you do? what? like what? what’s your background.
Dave:
And and that’s often I’m a embedded programs engineer. So when um, you recognize so I do a whole lot of electronics parts firmware improvement kind work mother my day job and outdoors of that I.
Clay:
Now What’s your? yeah ah.
Preston:
Okay.
Clay:
Now What does your spouse do.
Dave:
My spouse is a bookkeeper and a workplace supervisor for her brother really who’s a part of the explanation why I’m the place I’m right now due to serving to him run his web site and Google eye campaigns and stuff received me to the place I’m right now. However. Yeah, she works for her brother as an workplace supervisor and and within the automotive business. So yeah.
Clay:
Thanks.
Preston:
Okay, very good. So so a number of geeking out occurring at at household dinners and household occasions. Ah a whole lot of lot of tech speak and so it sounds such as you guys are doing operating your small business on the facet then.
Dave:
Sure, yep, Sure, proper now. Everyone simply does I began I restructured the way in which the corporate works so that every one the youngsters can. Do their very own tasks by way of the enterprise so as a result of earlier than they have been doing their little web site tasks and they might simply have their shoppers venmo. Um or they have been struggling to receives a commission and I’m such as you’re you’re struggling since you’re not invoicing. so I restructured the way in which I used to be doing my enterprise to carry the youngsters in in order that all of us had um.
Preston:
Increase.
Clay:
A.
Dave:
The power to you recognize handle the enterprise. So and now we have now set a purpose for a few of what we need to do as an organization now that we’re all type of beneath one umbrella.
Preston:
Superior! So so like when somebody asks you about your organization or asks 1 of them about your organization. What do you guys say you do like? do you do you provide net net design net improvement app improvement like what? what do you guys? do.
Dave:
Um, app and net improvement. So I like doing the online improvement work. In order that’s what I often deal with for us every time an online shopper comes alongside the youngsters love to do app improvement. So we really personal a few apps. We’ve got made some acquisitions this 12 months the place we.
Preston:
Um, yeah.
Dave:
An awesome web site referred to as purchase.com the place we’ve bought a few apps by way of that web site and people are bringing in some respectable recurring income for us nonetheless not making a lot of a revenue however we’re beginning to break even with that.
Preston:
Fascinating.
Dave:
And in order that’s been actual good and we have now a purpose to have we have now 2 apps proper now which are subscription primarily based and doing properly we have now a pair net shoppers one net shopper is on the subscription mannequin that you just guys have touted on a few of your previous pot. Um podcasts I I discovered from you guys to try this and.
Preston:
Ah.
Dave:
And so we’re um, we have now just a few issues going there So we have now some good recurring income and we’re simply seeking to develop to that subsequent degree.
Preston:
I Adore it and so what? So what? Um what I assume piece of the main focus of your small business. Do these apps signify versus like your service enterprise.
Dave:
So one in every of them’s an app. That’s a shopify app. So. It’s an add-on plug-in for the shopify platform and in order that helps us you recognize with a few of our net shoppers in order that we will appeal to extra you recognize Shopify. Um. Purchasers as a result of we have now good improvement expertise and in that space after which the opposite one is making an attempt to faucet into the entire um ai progress and it’s an app that’s um, an ai a social ai planner. The place an influencer can simply add a photograph put in just a few key phrases for what they need to be about and it’ll generate the content material for you after which it can put up it to your Instagram or Fb web page or Linkedin so we have now um, these 3 platforms are supported proper now.
Preston:
Ah.
Dave:
We’re making an attempt to get the ultimate authorizations by way of by way of Fb Meta by way of their builders to complete up in order that we will get the complete launch achieved after which we’re going to slowly add in Tiktok and some different platforms as properly.
Preston:
Yeah, so I assume that’s that’s tremendous attention-grabbing stuff I Surprise I assume I’m questioning like what by way of focus in your small business. Are you guys like devoting half your time to rising these apps and half to the companies you provide are you actually eager to to carry up. The service piece and people are simply type of enjoyable facet tasks like how does all of it match collectively. what? I imply.
Dave:
Nicely so what we’ve been capable of do is we deal with our net improvement and we use these apps as add-ons. So like our shopify shopper. So we embody our app that we personal on the shopify platform without cost for them.
Preston:
I see.
Dave:
After which we give them um like three months of credit score to our new social app in order that they’ll work on their very own social media platform as properly and and promote their merchandise by way of their social media accounts utilizing our app and so by doing that we have been capable of like bundle further companies that. And a few senses doesn’t value us rather a lot. Um.
Preston:
Cool. Yeah, so that you principally you principally use these as as um, like Premium add-ons that you just get that you just wouldn’t get with one other developer. Um.
Dave:
Proper.
Preston:
Like in the event you join with us. We’ll do your web site and likewise we’ll provide you with 3 or 6 or no matter months of this cool product that comes together with it or no matter, very cool, okay, cool and and um and did you say how lengthy you’ve been doing this on the facet when did you and your youngsters begin begin this enterprise.
Dave:
Um, yep, yeah.
Dave:
So I began in 2017 um I separated from a job I used to be at had an excellent severance package deal and I used to be burnt out. Um I used to be actually into images so I began a images enterprise. Um.
Preston:
Okay.
Dave:
Known as a gallaso images all of my youngsters performed soccer so gallazo is a you recognize a spanish time period for an extremely superior purpose for some time that was at all times my tagline of rating an extremely superior purpose in your small business. And so so all of our stuff has been centric round sports activities for a very long time. Um, however throughout that images enterprise. My brother-in-law began his enterprise and he’s like hey I want an internet site are you able to make an internet site for me so I did. Um, hey I see that your promoting goes actually? properly properly, you run my advert campaigns too. So I ran as Fb and I ran as Google advertisements after which he stored referring individuals to me and in order that turned extra of my enterprise than the images was and.
Preston:
Yeah.
Preston:
And so what piece of your small business is the the promoting piece so that you do net improvement however you additionally do you additionally run advert campaigns for shoppers.
Dave:
Not very a lot anymore I I assist individuals discover the correct individuals now to do the advert campaigns as a result of it’s a whole lot of it’s a whole lot of time to run these and and so now I assist individuals to seek out the correct individual to run their campaigns as a result of I do know sufficient to know.
Preston:
And.
Dave:
My limitations are and I do know sufficient to know that they’re discovering the correct individual that’s going to take them to that subsequent degree. Um I don’t attempt to be the whole lot One of many issues I discovered is that the extra I unfold myself out the much less profitable I’m.
Preston:
Yeah, yeah, there’s undoubtedly rather a lot there for positive and in specializing in one thing and being the most effective you may be in in not less than kind of 1 space earlier than you department out into different areas. Okay, that’s actually attention-grabbing. So um. In order the enterprise is now like the place you principally do together with your sons this net improvement piece. Um, how lengthy has that specific piece been how lengthy have you ever been in enterprise and what number of shoppers do you’ve got.
Dave:
It’s been a few 12 months and a half since we began this a part of it got here from throughout the entire pandemic time the youngsters developed this app referred to as hype gamer that was a.
Preston:
Okay, yeah.
Dave:
Esports match internet hosting platform and so they constructed it from the bottom up and it was actually cool for name of obligation and um, it allowed the common individual like let’s say you wished to get collectively together with your buddies over the weekend and host a match for name of obligation. Everyone places $20 into the pot by paying by way of our the platform that they developed it pulls all that cash collectively after which the location actual time is monitoring the stats of the decision obligation sport after which on the finish of the match it mentioned. Okay, right here’s your 1 2 3 winners after which paid all people out of the. Ah, the pool that was collected. It was actually good and so they have been doing about $70000 a month gross and um after which you recognize Activision had some dangerous press referred to as obligation took a little bit of a noseiveve and customers and um and so.
Clay:
That sounds actually cool.
Preston:
Bought it.
Preston:
Wow.
Dave:
Every little thing type of dwindled out and in order that platform remains to be there however they don’t actually, it’s not likely getting used anymore. However the purpose is to is to attempt to and get into a number of the huge names and that’s a part of the place a few of our areas have been in struggling is.
Preston:
Wow.
Dave:
We have been doing properly with the recurring income for 4 or 5 months at sixty Seventy thousand {dollars} gross if you recognize it might have been good to leverage that in just a few kind of funding and and you recognize, bringing in some angel buyers and possibly we might have gone to another platforms on the time you recognize, nevertheless it takes one thing like that.
Preston:
Ah.
Preston:
Yeah.
Dave:
To be taught from to know that. Okay, you’re lacking one thing we didn’t there’s one thing we must always have discovered there that we didn’t be taught and so and in order that’s type of what I’m hoping to be taught right now is how do you get to that subsequent step how do you’re taking that recurrent income. Yeah.
Preston:
Yeah, proper.
Preston:
Yeah let’s let’s discuss that a little bit bit. Um, so once you got here to speak with us Dave as as everybody who comes on the present as a visitor. We’re so grateful for these of you who select to return on the present. We couldn’t do that podcast with out you with individuals like Dave. So. Thanks Thanks? Um, when once you come on the present we have now you fill out this actually quick questionnaire. And on the questionnare. 1 of the questions is on a scale of 1 to 10 one being a freelancer 10 being a founder the place would you at present put your self ah and and Dave you set that you just and and I I suppose your um your small business with collectively together with your sons. You’re kind of at a 3 you mentioned, however you’d prefer to be extra. Like at a 6 might you paint an image for us in an ideal world. What does your small business seem like possibly a 12 months from now what can be the best.
Dave:
A 12 months a 12 months from now would see one in every of our apps having a big quantity of subscribers past what we’ve been capable of just do by packaging it with our net companies however simply typically getting extra subscribers to a few of our apps. And having sufficient recurring income that they’re really turning a revenue and that manner we will afford to as a result of you recognize all of us have full-time jobs and so we’re nonetheless all freelancers. Though we’re a gaggle of us. Um, and the concept is that okay, so can we farm out a few of this work. .
Preston:
Um, yep.
Preston:
Proper.
Dave:
1 of the problems we’re having proper now could be I must do some walkthrough movies of how our app works in order that we will end the approval course of for a few of our entry to the Fb and Instagram Apis I haven’t had the time to try this. It being good to rent somebody to try this. However. We even have restricted funds. We’re on a shoestring nonetheless you recognize and in order that’s type of just like the balancing act that we’re making an attempt to get previous.
Preston:
Yeah, yeah.
Preston:
Okay, attention-grabbing. so okay so um that is actually that is actually type of ah, attention-grabbing for me as a result of I’m listening to kind of 2 issues which is on the 1 hand you’re you’re making an attempt to develop a ah ah net design net improvement enterprise. However then I say what can be the best for your small business a 12 months from now and also you say I’d like extra subscribers to our app which might generate extra recurring income. Um, so I assume I assume I’m simply making an attempt to I don’t know possibly I’m misunderstanding I’m making an attempt to kind of parse these 2 totally different they appear like do totally different companies.
Dave:
No. They’re and also you’re proper? And that’s a part of our dialogue that we’ve had as child you recognize with the youngsters and stuff and myself is the place are we going and I hold telling net develop net shoppers are going to fund the whole lot else as a result of net shoppers are going to herald more cash.
Clay:
Ah.
Preston:
Um, yeah, yeah.
Clay:
And.
Dave:
And extra cash for us to have the ability to pay to complete growing these different apps and so and so they need to develop the apps. So we’re type of we’re getting in 2 instructions and we most likely will find yourself really splitting the corporate into 2 if that’s the route we find yourself getting in however that’s the.
Preston:
I Guess I I assume I assume I’m I’m lacking one thing as a result of and I don’t imply this kind of I’m I’m not making an attempt to name you out essentially. However but when the if the boys are doing the event. What funding do you want from.
Clay:
Handless.
Preston:
In the event that they’re doing the app improvement. What funding Do you want from these net design claims that you just don’t have but so as to fund the event properly however maintain on you however however.
Dave:
Advertising and marketing after which there’s some work advertising and marketing is an enormous one. However yeah.
Clay:
I Assume he’s asking about cash proper? or am I taking that or is that urgent out and.
Preston:
Nicely yeah cash however cash for advertising and marketing for a factor that’s not achieved but is that I assume I’m simply making an attempt to color an image sorry Dave.
Dave:
Yeah, no, that’s that’s good as a result of that helps me too as a result of now I do know most likely part of why we’re struggling is that if I can’t clarify it then that most likely explains why we will’t get there too. Um.
Preston:
Yeah I imply in in equity proper? if if I if I used to be an angel investor you got here to me and mentioned we have now this enterprise the place we’re hoping to develop subscribers to some apps so as to construct some recurring income however so as to construct subscribers. We’ve got to get net design shoppers first. It’s a really complicated pitch proper.
Dave:
It’s.
Clay:
Um, and.
Preston:
And it’s kind of like so if I’m going to offer you my cash are you’re you going to take a position that in advertising and marketing to get subscribers for the apps or are you going to take a position it in advertising and marketing to get net design shoppers and in the event you make investments it to get net design shoppers. How does that really assist the apps develop which really produce the income proper? It’s it’s type of this.
Dave:
Yeah, sure, there’s and so um, the online shoppers and that’s my favourite half. That’s most likely why I hold pushing it um and um and so and that’s why you recognize I believe ultimately.
Preston:
There’s only a lot occurring.
Dave:
A part of what we’re making an attempt to do is develop sufficient in order that we will type of break up it into 2 instructions and have 1 crew dealing with net and 1 crew dealing with and doubtless have it beneath a special title dealing with all the online apps. However proper now what we’re making an attempt to do is work out how. How we will get there and um, we all know that promoting and advertising and marketing has been one space that we’ve been actually working exhausting to attempt to and and tackle. Um you recognize I do know from operating Google campaigns and Fb Campaigns it’s an excellent. $1502000 a month to run a good measurement marketing campaign and that may bleed you drive fairly shortly your financial institution accounts fairly shortly and so we’re making an attempt to determine how to try this. So um.
Clay:
And.
Dave:
Ideally, it’s the apps in the long term. We wish the apps to be the moneymaker and that’s that’s the top purpose. Um, ah, however that’s what they take pleasure in and that’s what’s gonna hold them engaged and.
Preston:
Yeah.
Clay:
Is that simply because that’s what you’ll take pleasure in doing as an entire how a lot proper now in the event you might break it down what proportion of your income come from web sites and what number of your income come from the apps.
Preston:
Yeah, yeah.
Dave:
It’s virtually fifty fifty proper now with the how we’re doing for apps and net design as a result of we’ve solely received a minimize. We received a pair shoppers which are net shoppers which are on the hourly foundation after which we have now the one which’s on subscription foundation. That’s fairly.
Clay:
Um, okay, and ah.
Clay:
Um.
Dave:
Good sized shopper after which we have now the two apps which are operating with subscription bases which are bringing in sufficient income that they’re virtually matching the um the web site of it.
Clay:
No, and and the the apps are are dependent proper now on the internet improvement appropriate. Okay, after which how a lot properly he’s saying as a result of it’s a must to like he mentioned earlier they cross promote the apps.
Dave:
Sure.
Preston:
Wait in in what manner and what manner.
Dave:
Sure, we.
Clay:
From Web page shoppers.
Preston:
Bought it. That’s the one manner you’re getting app prospects proper? now could be is as upsells in your or add-ons to your net design shoppers. Okay.
Dave:
Sure, that’s that’s a technique we’re getting a handful of them organically however essentially the most of them have come by way of net shoppers and referrals from the online shoppers. So.
Preston:
Bought it.
Clay:
Um, how a lot are your um how a lot of your income is month-to-month recurring proportion alternative.
Dave:
Ah, most likely by 80% of our cash 80% of our revenues month-to-month recurring proper now. Yeah, so we we’re no, we’re nonetheless a little bit bit within the pink.
Clay:
Month-to-month recurring. Are you working within the block.
Preston:
Can I ask do? yeah you worthwhile? Um, and what and what number of the overall wanted income. Would you say you’re at present making. So for instance, in the event you want.
Clay:
Okay.
Preston:
$10000 a month every for every all 4 of you that’s 40 grand how a lot are what proportion you’re making possibly thirty forty % of what you want for you all to go full time or what does that quantity seem like proper.
Dave:
Um, we aren’t paying ourselves but. So the purpose my hope is that by the inside it 12 to 18 months we will begin really paying out.
Preston:
Okay.
Dave:
Some kind of ah disbursements to all people however I need to see the advertising and marketing that we’re doing has been consuming into our bills.
Preston:
So that you’re not paying your self however you’re additionally not worthwhile the place what are the bills.
Clay:
And.
Preston:
I See you’re operating you’re operating damaging ah Roi advertising and marketing campaigns. Yeah, okay.
Dave:
Proper now we’re sure and worst’re lifeless proper now we’re simply paying for the pay the Ppc advertisements on the shopify platform for our shopify app. Um, our non shopify app we’re.
Clay:
What have you ever been doing.
Dave:
Organically promoting proper now utilizing our personal social media software to to develop our social media presence for that app and however we need to begin paying for some promoting and begin paying for some Fb and Instagram and Tiktok advertisements for that.
Preston:
However I believe however I believe a part of the difficulty Dave is like in the event you go in the event you go to somebody asking for funding proper? and and so they say nice I’ll provide you with you recognize 1 / 4 of $1000000 or no matter and also you say nice. We’ve got a bunch of advert campaigns which are operating that aren’t worthwhile like that’s it’s not going to work.
Dave:
And we’re hoping if we have been at.
Clay:
Had.
Preston:
That’s not a pitch that somebody can settle for prefer it’s 1 factor it’s 1 factor to it’s 1 factor to not function at a revenue since you’re paying. You’re paying a crew and and also you’re paying for assets and no matter it’s it’s ah it’s one other factor to have the assets and the crew and never be capable of generate a.
Dave:
Brilliant.
Preston:
Optimistic ah roi in your advertising and marketing greenback proper? or not less than break even in your advertising and marketing campaigns and so I believe for me, that’s step 1 is such as you take a look at your advertising and marketing marketing campaign and also you say we have now to get these breakeven or ah roi constructive earlier than we might even strive to determine what sort of funding we might.
Clay:
For that.
Preston:
Look search for or who we might strategy. Um.
Clay:
How are you getting shoppers now.
Dave:
There’s ah phrase of mouth for essentially the most half or um, you recognize just like the shopify shopper was a referral from a pal and and in order that’s. and the opposite shoppers that I’ve have been referrals for my brother-in-law after I was doing a whole lot of the work for him So a whole lot of the whole lot we’re doing has been referral primarily based um after which I’ll exit and do just a few chilly calls. just a few occasions a month. Um, on folks that I do know vaguely. Um, you recognize, simply type of hey hey I noticed that you just want a brand new web site. you’re seeking to to make any modifications but and so they’re like hey properly to maintain you in thoughts once we’re prepared. Um, however you recognize I’m not a gross sales individual by Commerce. So That’s the opposite facet of the entire thing is is. we I’ll hold pointing at a change So who’s going to be our salesperson and so um.
Preston:
Nicely there. Yeah, there’s a difficulty.
Clay:
Who’s who what sort of ah inform me a little bit bit extra about your tasks. What sort of web sites are you growing? is all of it ecommerce and what sort of apps are you growing.
Dave:
So the the web sites are wordpress and shopify primarily based 1 of these 2 platforms. These are the two we we attempt to and work in no most of ah we solely have one ecommerce one so far as the shopify one goes, we’re engaged on a second 1 proper now.
Clay:
Is all of it ecommerce.
Clay:
Okay, after which the remainder the remainder of the web sites are like what like your brochure kind web sites. Okay, what’s your value level can I ask.
Dave:
Um, and yeah, precisely yeah, um, we’re beginning out at one ninety 9 a month for that and we’re paying for the internet hosting we pay for.
Clay:
Okay.
Dave:
We’ll add in any type of plugins in the event you received it as a result of you recognize nothing’s free. You bought to pay for subscriptions for the whole lot for wordpress or shopify and so we’ll add tapmon. No matter sure, um, solely we often attempt to embody not less than 1 plugin. The pricing is you recognize so we will.
Clay:
Yeah. You set that on you set that on tack that on to the shopper. Okay.
Dave:
If there’s solely wants for 1 plugin. The subscription primarily based often we will take up that. But when it’s multiple then we begin to tack it on to the client I I don’t prefer to nickel and dime individuals. So I at all times strive to ensure I value the whole lot in order that I can maximize the worth to them earlier than I’ve to return and. And ask for extra cash. The one app we have now for shopify is a really it’s a survey type of app. Um, the concept there’s because it’s so exhausting to trace something anymore.
Clay:
Okay, after which what sort of apps are you growing.
Dave:
With ios and folks having the ability to flip off monitoring you don’t know the place your prospects are coming from So the concept is that it’s this post-purchase survey app that after they end their checkout it then says hey how did you hear about us. How was your expertise all that type of stuff so you will get some suggestions postpurchase.
Clay:
We cry, however that’s only one that’s simply 1 app although proper? like what about the remainder. So.
Dave:
Ah, and that’s one app The opposite app is um, the opposite app is our social media planner which is the ai primarily based one which generates content material for social media individuals in order that that manner they’ll promote their merchandise by way of social media. They will simply.
Clay:
Okay, what say you solely have two apps.
Dave:
Be a basic influencer. No matter they’re doing. We’ve got the 2 we have now a 3rd one in improvement that we’re engaged on making an attempt to get completed with shopify and that’s one other one which’s going to make use of Ai and it’s referred to as store transient and the concept for that app is that it’ll analyze your ecommerce retailer.
Clay:
Okay.
Dave:
And provide you with some primary analytics in textual content reasonably than as a result of you recognize not all people who runs an ecommerce retailer can learn graphs.
Clay:
So so why wait so you’ve got 3 app tasks. You should be charging a fairly hefty charge for apps.
Dave:
Um, what they’re twenty 9 Ninety 9 a month for one on the primary degree. The opposite one is not any $29 and ninety 9 cents a month.
Clay:
You speaking about you speaking about two Thousand 9 hundred Ninety 5 okay I’m making an attempt I’m making an attempt to determine. Um your math right here since you mentioned 50% of your income comes from maps and 50% comes from net improvement.
Dave:
Um, yep, sure sure, 1 ne’s 30 1 ne’s $50 a month and the opposite one I believe is when it will get completed and launched goes to be $79 a month.
Clay:
However you solely have 3 apps at $30 a month.
Dave:
In order that they’re not all that low value. It’s simply they’re not.
Clay:
So so that you’re I simply need to be sure the mathematics is that if I’m listening to this proper? So from all 3 at tasks you’re getting you. You’ll be getting paid 100 and fifty 9 {dollars} a month complete.
Preston:
Per per buyer. Yeah, what number of app shoppers at prospects. So so the factor is clay. They’re not growing these apps for the shopper. The yeah, the apps exist as add-ons.
Dave:
Per buyer.
Clay:
Oh that’s what I need to know what number of what number of app tasks. Do you’ve got occurring. Um.
Dave:
Yeah, app prospects. Okay, so the apps. Yeah, the apps exist in order that anyone can subscribe however we we we use them as promoting factors for.
Clay:
Um, oh okay, received it. Okay I used to be identical to what the I used to be like this math isn’t including up all proper.
Preston:
Proper? In order that they make them they make them as soon as? Sure, yeah yeah, so let’s let’s do you thoughts speaking actual numbers Dave how do you are feeling about speaking actual numbers which are you snug with that. So so why don’t you inform us.
Dave:
Yeah, yeah I don’t have downside with that. Nope.
Preston:
High line income for for your small business proper now. What? What sort of income is it doing on common in a month
Dave:
Our enterprise on common in a month is round $1300 a month.
Preston:
Okay, and so half of that so 600 and fifty bucks is net design shoppers and 600 and fifty bucks is ah app subscriptions. Yeah.
Dave:
Between yeah, we have now 2 apps which are launched totally launched and we’re getting subscribers for sure, which are these and the third one which we’re simply ready for some approvals. So yep.
Preston:
Yeah, so so I’ve to I’ve to be Frank right here. We’re you recognize, 27 minutes into an episode um or right into a dialog and and I’m simply not I’m not even positive the place we’re headed I’m undecided how we may be of service to you want like what are. Possibly what are a number of the huge questions you’re going through that you just have been hoping we might assist you to dive into right now I’m I’m frightened we’re gonna um, we’re we’re type of getting in circles a little bit bit if I’m being sincere and that’s partly my fall partly on me however I simply I simply need to be sure we provide you with some useful recommendation right now. So I assume what are the large questions that. However you actually got here to the present eager to ask right now.
Dave:
Was that it was about funding in and really you guys have helped greater than you than you recognize, regardless that we’ve talked in circles you’ve helped since you’ve made me notice that one we haven’t achieved a ok job in defining ourselves. Um.
Preston:
Okay, properly, that’s good.
Dave:
Since you’ve requested the questions that may have been requested of us from ah you recognize any type of Angel investor or buyers who we might have gone to you? yeah.
Clay:
Um, yeah.
Preston:
Yup, and even ah, even a financial institution mortgage supervisor they’re going to ask you these clarifying questions proper? And if in the event that they really feel like we’re getting in circles for 20 minutes or if I really feel like that then they’re going to really feel like that and so that’s one thing good to bear in mind.
Dave:
Yeah, okay.
Clay:
Can I can I ask you a query So how many individuals work in your organization prefer it’s all household for okay if all proper? So if I have been to ask every individual.
Preston:
It. It’s simply the it’s simply the 4 of them. It’s simply him and the three youngsters and none of them are full time.
Dave:
It simply the 4 of us. Yeah, and none of us are full time.
Clay:
Together with your self individually in a person room particular person occasions what your organization does will I get 4 totally different solutions. Okay, that’s an issue that’s an issue.
Dave:
Um, I believe you’d get 3 totally different solutions. There’s 2 of us on the identical web page and sure it’s nevertheless it sure and.
Preston:
Thats that’s yeah, 3 That’s that’s not higher than 4. That’s the identical.
Clay:
If it’s if it’s not if it’s not for of the identical reply. It’s an issue so that is to me that is the place you have to begin as a result of you have to return to fundamentals and work out all 4 of you.
Dave:
Right here.
Clay:
Want to determine and get on the identical web page about what this firm does who you’re what are your core values and what your vacation spot must be proper? Who’s your what’s your organization identification. All 4 of you have to have the very same reply as a result of in the event you’re not all 4
Preston:
You yep.
Dave:
Um, sure.
Clay:
Contemplating it is a household enterprise. You’re all vested proper? In case you’re not all 4 on the identical web page about all these things. You’re you’rere, you’re all going to go in several instructions.
Dave:
Yeah, and that’s due to the way in which we began. The enterprise was I organized it So the youngsters might every have their very own type of tasks and run it by way of the enterprise in order that that they had a manner of invoicing amassing paying taxes all that type of stuff.
Preston:
Yeah, you recognize what? what? Ah what? you principally did was you you consolidated 4 companies into and and to assist consolidate some processes between 4 totally different companies. You didn’t begin. You didn’t begin one enterprise and and I believe that’s exhibiting now on the backend as a result of now it’s like.
Dave:
And now we’ve gotten to some extent the place it’s time to yeah.
Clay:
A.
Dave:
Yeah, proper.
Clay:
Um, so yeah.
Preston:
I can inform the way in which you’re speaking you need to do net design and improvement the boys need to do apps and possibly they every have their very own pet app that they like proper? Possibly 1 of them actually needs to do a gaming app once more and attempt to get that off the bottom. Possibly 1 of them needs to do that ai social app like there’s simply so many fragments right here.
Dave:
Yep.
Dave:
Yep.
Clay:
The.
Dave:
Um, in order that’s been one in every of yeah as.
Preston:
Funding goes to be unattainable however however even earlier than funding like simply simply having the ability to discuss your small business with shoppers goes to be actually exhausting proper.
Clay:
Um, you’re yeah you.
Clay:
It’s essential to you have to deal with. So what you what? you’ve been. You guys have been doing. You’ve been treating this as Hobbies beneath a authorized entity. Yeah, you have to deal with it like an precise enterprise.
Dave:
Yeah.
Preston:
And yeah, yeah. Which is difficult with household proper? as a result of it’s such as you don’t need to harm. Individuals’s Emotions. You need to spend time collectively. However on the finish of the day it must be a enterprise. Not only a enjoyable Factor. You’re doing collectively as a household and so somebody must say that is the route of the corporate.
Dave:
Sure.
Dave:
Um, and and I do.
Clay:
Yeah.
Preston:
You may be part of it or not be part of it. We’ll nonetheless be household. We’ll nonetheless love one another in the event you don’t need to do net design that’s nice or in the event you don’t need to work on apps that’s nice, proper? however however like to simply embody everybody so in a household you embody everybody in all their likes and dislikes and you’re taking that every one into consideration in enterprise.
Dave:
Um, yeah.
Preston:
You take note of the income you take note of the advertising and marketing the messaging the identification the model all that stuff and and you may’t you simply can’t embody everybody and and what they need. So.
Clay:
Yeah.
Dave:
And so yeah, and so the exhausting half that we’re having proper now could be that we acknowledge that the apps might doubtlessly really be the longer term. Um, and we simply however that’s a long run look than the quick time period. And in order that’s what we’re simply making an attempt to determine the place our identification is and.
Clay:
How a lot time are you guys spending on apps between the all 4 of you ways a lot proportion smart how a lot is being in improvement on apps.
Dave:
Ah, proper now. Clearly proper now it’s about 70% apps as a result of we’re making an attempt to launch the third one um and the remainder is on web site and making an attempt to land extra prospects.
Clay:
Which app which app produces the least quantity.
Dave:
So. The shopify one produces the least quantity nonetheless most likely about 15% in contrast.
Clay:
What proportion of income does that account for.
Clay:
And the way a lot time is spent on that specific app.
Dave:
That specific one is definitely type of coasting alongside. However that’s the place we’re additionally spending our promoting cash and in order that’s one of many issues I’ve been speaking about with the youngsters is how for much longer are we going to maintain spending on this one and and.
Clay:
Are all are all of your um, promoting is all of your promoting being marketed for the apps I believe it’s a mistake and it’s a mistake.
Dave:
Sure.
Preston:
Nicely, it relies upon I imply that’s not truthful to say we don’t know like as a result of as a result of we’re nonetheless undecided if if the purpose is to develop the app enterprise or the purpose is to develop the online improvement enterprise.
Dave:
Yeah, and.
Clay:
Nicely the the way in which I view it now could be is you recognize? Yeah positive if the purpose is to develop the app enterprise I’m I’m the way in which I’m trying it proper now could be your web site facet of issues is funding this entire factor. It’s charge. It’s feeding.
Dave:
Sure.
Clay:
Income into the apps and also you’re making an attempt to determine how do you make this develop I might let you know proper now. It’s rather a lot simpler to promote net web sites than it’s apps for my part. Um, you’re going to have manner much less churn ah with web sites versus apps. And also you’re going to get more cash per venture on web sites versus apps. So for my part. That’s the place you set some effort and assets into it for now for now and and the explanation I’m saying this and I agree with Preston like. Positive if the purpose is to extend your app facet of issues within the sooner or later then issues can evolve however the way in which I’m taking a look at proper now could be you’re working within the pink and none of you all getting paid so you have to be in income.
Dave:
Yeah, precisely.
Clay:
Revenue rising mode and you have to put some assets in the direction of the factor that’s really making a living and feeding this factor.
Dave:
Yeah, and and that’s been yep and I joke rather a lot that once you’re in enterprise together with your youngsters and and I’m the 1 performing as just like the enterprise supervisor. It’s like hurting cats generally however.
Preston:
Sure, properly it’s exhausting you I imply there are issues you may say to an worker that you could’t say to a child proper? Um, and and issues you may say to a crew member that you could’t say to a child in order that’s it’s a problem That’s precisely proper.
Dave:
Sure, yeah.
Clay:
Are.
Dave:
And there’s issues you may say to a member of the family that you could’t say to an worker however.
Clay:
Do can I can I ask you want so once more, similar query about like all 4 of you guys if I have been to ask every 1 of you guys what you’re accountable for within the firm can each single individual like spit it out immediately.
Dave:
Sure, really they do type of. All of us have our specialties. Everyone knows what we’re good at you recognize my oldest being the product supervisor he does assist us. do roadmaps. He’s an excellent perfect individual and. A few of the stuff we’re doing right now is as a result of he’s at all times received some new concept each week. That’s additionally a difficulty. Sure I do know proper now it’s me however I don’t need it to be me.
Clay:
That might be that might be a killer yeah who handles who handles advertising and marketing. Okay, who handles who handles ah gross sales.
Preston:
Yeah.
Preston:
Nobody? yeah.
Dave:
Nobody I do I deal with funds.
Clay:
Okay, who handles operations who handles funds so that you deal with so these these are the 4 main areas of each single enterprise now you deal with.
Dave:
Sure.
Clay:
By your self 3 of them when there’s 4 of you guys on the crew. So to me yeah prefer to me that’s an issue. There’s the allocation. There doesn’t.
Dave:
Um, sure.
Preston:
4 folks that want paid.
Preston:
Yeah, Dave can I ask a extremely exhausting query. It’s gonna be a extremely exhausting query. Um, we’ll see do do your do your boys need to be in enterprise with one another and with you.
Dave:
Positive.
Clay:
I Really feel like I do know what this query is.
Dave:
Um.
Preston:
Like genuinely is that this what they need to do for his or her careers or is that is this a pastime enterprise that you just’re all doing collectively as one thing enjoyable that you just do as a result of it sort of feels extra like that it looks like possibly one thing once more. That is going to this sounds harsh a part of the worth of this present is.
Dave:
Um, it’s really an excellent query that I yep.
Preston:
Is us talking as a lot reality as we will what it looks like a little bit bit to me is just like the dad who needs to love you recognize, um like like make a band together with his youngsters or be like be just like the be just like the band supervisor or just like the agent for his rockstar youngsters. what I imply.
Clay:
Ah.
Clay:
Ah, her.
Dave:
Precisely yeah.
Preston:
And and and I don’t imply that as an insult or something I’m simply making an attempt as an outsider that’s type of what it looks like simply from what you’ve instructed me the vibe with the youngsters are and the way ah how the enterprise is about up. It feels such as you’re doing 90% of it and and possibly you and the youngsters disagree on the route of the corporate and. And also you’re you’re type of making an attempt to cobble this factor collectively. In the meantime it looks like they need to take issues in a special route or do one thing completely totally different or they don’t agree together with your philosophy or or it’s simply I don’t understand it simply type of feels.
Dave:
It’s It’s not a lot that as a lot as we’re at a cross paths that everyone knows crossroads that everyone knows um and we’re all trying one another what route we need to go In. We All have our personal concepts of what route that must be and. We haven’t sat down for I believe it’s been over a month since our final household dinner. So um, so we haven’t had that dialog and that’s really a extremely good query for me to ask my youngsters um I do know yep.
Preston:
Yeah, so that you guys run a enterprise proper? enterprise conferences don’t occur at household dinners. So in the event you’re operating a enterprise and so they occur greater than month-to-month so you have to get collectively and the Ceo sometimes determines the route of the enterprise I believe that’s you so.
Clay:
And so they and so they occur greater than month-to-month.
Dave:
Yeah.
Dave:
Um, sure, and so.
Clay:
Yep.
Preston:
So so I believe I believe possibly the most important piece of recommendation popping out of this entire dialog At present is you’re treating this extra like a household than a enterprise which is okay I don’t I’m not saying like I don’t need to trigger household issues proper? That will be the very last thing your loved ones is extra necessary than your small business. However the place it is a enterprise present and we give enterprise recommendation. You’re treating your small business like a household ah which means you recognize there are issues it appears like possibly you’re not saying you’re having your small business conferences at dinner together with your spouse. Ah. You’re type of making an attempt to identical to make a spot for everyone. These are all nice issues to do in a household in a enterprise. It’s about producing tasks and income and and rising a enterprise proper? Not not like inclusion for everyone in any respect prices and. Type of these a few of these issues that that we construct households on and so I I believe you recognize earlier than you may even contact the query of funding I’m simply undecided you’ve got sufficient of a enterprise in your palms but. You might have an incredible facet venture or pastime to date together with your youngsters that sounds prefer it’s been enjoyable to date. However.
Clay:
And.
Preston:
Unsure you’ve got a enterprise but like I I don’t know is that’s that the improper factor to say am I’m I being too harsh is that unfounded I don’t know.
Dave:
I Don’t assume so I believe that you just’re figuring out the difficulty that we have to tackle and I a part of it comes again From. my spouse’s household has at all times had a household enterprise that was very profitable and so they had their very own household points as a result of making an attempt to ah apply enterprise choices to household and I used to be making an attempt to go in the wrong way of that. So.
Preston:
Um.
Dave:
Most likely have to seek out that center floor in there and so I need to. However yeah, we have to have that dialogue and and that’s really that’s an excellent level as who actually needs to be right here and who um.
Clay:
what? a extremely.
Dave:
And and what route are we going to determine. We’re going to go in. Yeah yeah, and I yeah and all I need to do is have one thing that’s behind left behind for the youngsters and the grandkids I’m hoping that we will.
Preston:
And like as a dad. Possibly you say look It’s okay in the event you don’t need to be part of this enterprise. It’s nice.
Clay:
And.
Dave:
This might be the type of factor that brings in further income in order that they’ll take pleasure in some further stuff for the youngsters however you recognize possibly that’s simply the improper approach to strategy it.
Clay:
Ah I’ll let you know a really very excellent guide that every one 4 of you have to learn and it’s defined it. It goes over this whole dynamic that we talked about on this complete episode is known as get a grip by. Gino Wickman I if I have been you that may be the very very first thing that I do after this podcast is all 4 of you learn that guide.
Dave:
Write that down.
Dave:
You’ll like.
Preston:
After which name an precise enterprise assembly the place your spouse isn’t there and there’s no meals. Ah, and.
Clay:
Yeah I imply you recognize that guide that guide goes into that as a result of it goes into like okay who’s accountable for what after which like how one can run conferences and get on the identical web page. It. It’s it’s a sport altering E book. I Promise you.
Dave:
Okay, yeah, that sounds good I like that and for all of us to learn by way of that and stuff that may be nice I Will certainly be pulling that up and checking that out. So It’s humorous as a result of within the pre speak right here I discussed that. Household enterprise was a part of what I wished to speak about and also you guys thought that was fairly humorous and we ended up speaking about the entire time.
Preston:
Ah, not a lot humorous. However we simply you recognize we don’t our children are fairly younger Nonetheless so you recognize take the whole lot we’re saying with a grain of salt. However.
Dave:
Yeah, yeah, yeah.
Clay:
Nicely, it’s the identical points I’ll let you know it’s the identical points whether or not it’s household or not. you all should be on the identical web page you all should know what what your duties are and likewise each single individual on the crew.
Dave:
Proper.
Preston:
Um, yeah, that’s true.
Clay:
Must um and you recognize principally aka have to be for they have to be in the correct roles you recognize and and.
Dave:
E.
Preston:
Yeah, and and the stuff about just like the route of the corporate proper? I imply we’ve had solo freelancers come on not in a household enterprise not in any type of group simply them and so they nonetheless lack some readability on like right here’s the place we’re right here’s the place we’re going right here’s what it’s going to take to get there. That’s these are actually the three questions. Um. And and it appears like there’s some work to do there. However however once you’re in a household Enterprise. You started working collectively to determine that out.
Dave:
Yeah, precisely So okay.
Clay:
Yeah, it’s not a advertising and marketing downside I do know that that was one of many issues that the factor the factor that you just introduced up on the however you’re not having a advertising and marketing downside I don’t assume might I imply properly properly let me yeah, it’s not let me rephrase. It might be a advertising and marketing downside however like.
Preston:
Yeah, or a funding downside.
Clay:
It’s essential to get some. It’s essential to you have to deal with these different points First earlier than you get into advertising and marketing as a result of you recognize that’s your advertising and marketing is simply not going to be proper? in the event you don’t know in the event you’re not on the identical web page in the event you don’t know the correct route like yeah and funding solely comes when.
Preston:
Yeah, it’s going to proceed to be ah Roi damaging. Ah at.
Clay:
You’re really a constructive money stream enterprise.
Dave:
Sure, yeah.
Preston:
Yeah I imply shark tank and and Silicon Valley tradition have led us all to consider that such as you don’t really should earn money to run a enterprise I I subscribe extra to kind of the Tim Ferriss mannequin which is like. You bootstrap one thing Intel it makes some cash after which and yeah, it would take a little bit bit longer then in the event you determine you need to go get a enterprise mortgage not less than you’ve got one thing to indicate however like I simply assume um, we we put up on a pedestal these angel buyers and this like um. Pre-profit pre-revenue companies who make million greenback offers with Mark Cuban or no matter and it’s identical to properly in the true world. within the within the different 99%. That’s not on Television um, you recognize financial institution. Mortgage managers need to see some signal of constructive ah roi in your advertising and marketing efforts. They need to see a marketing strategy. They need some readability round what your small business is the place it’s going how they’re going to get their a refund. Um, you recognize there’s there’s just a few very actual questions that that should be answered there earlier than you may even strategy funding. So.
Clay:
Right here.
Preston:
I believe so I believe it’s actually like a ah readability and route and messaging and and and technique all of these sorts of questions that should be answered first.
Dave:
Sure, and and you recognize coming into this I assumed we answered them and as you requested me all of the questions. It’s like no I don’t know the reply to that one but and so yeah, undoubtedly we’ll be undoubtedly have a enterprise assembly quickly.
Preston:
Superior! Yep yep.
Clay:
You’re going to should have some actually powerful conversations. Simply truthful warning.
Dave:
Yeah.
Preston:
Yeah, you’re virtually going to should say we have to speak now as enterprise companions and once we’re all achieved with this. We shut out the enterprise assembly after which we will all be father and sons Once more, you recognize such as you virtually should separate it out.
Clay:
Yeah I believe I believe the most important I believe the most important delight dialog you’re going to have the hardest dialog you’re going to should have is the truth that you guys must assign a Ceo whether or not that’s you or any individual else.
Dave:
Yeah.
Clay:
And that individual is in cost. Yep and you’ll most likely have not less than 1 individual not liking that as a result of they they may they may all need to be Ceo you recognize I don’t know.
Preston:
And everybody else will get behind him. Yeah.
Dave:
Yep.
Dave:
Yeah, they like yeah I believe that’s a part of it too. Is all of them need the some kind of see title and yeah.
Preston:
Yeah I believe I believe you you you may have that however you bought to care extra about you bought to care extra about getting the enterprise off the the enterprise is. It’s simply not doing rather a lot proper now like get the enterprise off the bottom after which fear about your C title is my private opinion.
Clay:
They will. They will’t have it the ocean title. However.
Clay:
Ah, her.
Dave:
Yep I’m a little bit old style that manner as properly in that hit it.
Clay:
And ah, you recognize in the event that they care about c titles. Okay, that’s nice. Simply make you the Ceo make one the Cto make one a see one thing oh or no matter Ceo all of them have totally different duties however the reality is as a Ceo is the one that really makes the imaginative and prescient.
Preston:
Yeah, it’s nice.
Dave:
Yep.
Clay:
The ultimate like choices you recognize like that’s what a Ceo is that if if any individual is extra technical make that individual a Cto like who cares like titles are titles however like a title on ah on an organization that’s operating within the pink is simply not. It’s not.
Dave:
Yep.
Preston:
Yeah, yeah, all proper Dave sadly we’re out of time right now. However um, hopefully someplace in there. There was one thing useful. Um.
Clay:
However cares.
Dave:
Yeah, okay.
Dave:
It was like I mentioned you actually helped me determine why we’re struggling and what we have to do subsequent.
Clay:
Cool.
Preston:
Nicely good I’d love I personally would like to verify again in with you in in six months or so and see in the event you’ve been capable of type by way of a few of these after which frankly we might do that once more and speak a few of these different questions that we thought we have been prepared for right now. However possibly we weren’t fairly prepared. Um.
Clay:
Are.
Preston:
However in any regard. Thanks a lot for becoming a member of us on the present right now. Dave why don’t you ah inform individuals the place they’ll join with you the place they’ll discover you on-line in the event that they need to join.
Dave:
Sure, yow will discover me at gallasoservices.com that’s G O L A Z O Providers Dot Com
Preston:
Unbelievable Dave thanks for becoming a member of us I’ve been Preston with millo.co and naturally clay with gettripified.com thanks Clay admire your enter as properly At present all proper to see you guys.
Dave:
Thanks for having me.
Clay:
Admire being right here at all times see you guys.
Dave:
Thanks.