Jarrod Glandt, President at Cardone Enterprises, the #1 Marketing and Sales Trainer in the world.
In this episode, we talk with Jared Golin about his challenger funnel and how he drove over 250,000 new leads to Pardot and training technologies. It's amazing episode. Plus you also learn about how he thinks about reinvesting into the business, how he thinks about building teams, how he manages their massive sales team at Carto and enterprises plus out, they are actually able to take losses, strategic losses on the front end to be able to figure things out and be able to invest in the longterm. It's an amazing episode, enjoy
To hell with that. Like I want to build a bit, I want to build a million dollar a month agency where I have people working on it. I can stay creative. I can go to events. I can be, uh, looking for the next hot thing. And I've got a group of people that I trust that are running it. Um, you have to, you have to take action each day as it relates to the thing that you're pushing for, not the thing that you have. So you're happy to have, it's going to be impossible for you to make the choices that that I'm talking about. But if your goal is to do something bigger than every decision you make in your business needs to be about, is this decision going to get me regardless of how painful is it going to get closer to my goal? Or is it going to keep you on that?
Speaker 3 (01:28):
You're listening to the rich add poor ed podcast, where we break down the financial principles that rich advertisers are deploying today to turn advertising into profit and get tons of traffic to their websites without killing their cash. These advertisers agencies, affiliate brands are responsible for managing over a billion dollars a year in ad spend. You'll hear about what's working for them today. They're rich ads and we'll roast their Epic failures and crappy ads on the internet with poor ads. Let's get into it. Welcome to another episode of the rich dad. Poor ed podcast is your host sack Johnson. I'm with Mr. DC, Dylan Carpenter. You ready to dive into it today? I'm ready to TEDx it today, man. Oh, geez.
You're getting it. You're getting Nick already.
Oh my gosh. Well today's uh, today's uh, no namer. That's Mr. Uh, Jared Galanter president, who is this guy? Uh, gosh, man president at Cardone training technologies 10 years. You're you're like a man that is like so rare these days, man. Like just to be anywhere for 10 years, you're like the Labrador golden retriever over a garden. Right. You know, the thing is, is, uh, the, uh, the,
The temptation of, you know, Hey, go do your own thing now is greater than ever. So, you know, when you are working in a company that continues to give you opportunity and pays you a shitload of money, uh, you, you don't have a whole lot of incentive to leave. Uh, if you're in a situation where you're not making money, and then you're doing all this stuff, and you're seeing how people are making money and you, you know, you fall into the allure of the laptop lifestyle, you know, then you're going to get people that jumped ship. So, uh, grants created an environment where people can come here and make a brick of money and, you know, he's, he's great to work with. So it makes 10 years go by pretty fast, not easy but fast.
That's awesome, man. So I think pretty much all the listeners probably have heard of, uh, what you guys are up to, but what's new. Uh, w what are you guys working on right now? W w what's exciting, get everybody.
Yeah. So, uh, you know, obviously our growth kind of events coming up, uh, at the beginning of the year, first quarter, that's our big, uh, kind of like our big aspirational event, where we bring in people that have just done remarkable things and done become really successful. And we put those stories to share with people so that they can connect with what's possible. And most of the people that we bring on have, you know, a lot of adversity, they got to overcome just like everybody else, uh, some than others. And, uh, you know, it reinforces what's possible.
So some of the folks, you know, listen to the show or ad agencies, or some are also advertisers, some are affiliates, but a, you guys have Cardon advertising. It's I was looking on your site earlier. Like what, how, how has that process, like being in the agency game a little bit, like, I know it's not your core, your core business there.
I've got to update the site. We shut that down. Yeah. We, we had, uh, we had, uh, a good little run at it. And then right when we got into COVID, we were probably, we were in, uh, at the point really, where we were starting to normalize operations and, you know, getting team stabilized, you know, when, when we launched it, we had a ton of clients that came in and it was a challenge kind of getting through just account management and all that stuff. You're the man that
It says thousands of agencies listening to this podcast. So, you know, we're still struggling with it though. Here's the thing, like, there's a lot of agencies that are, have been struggling with this whole account management thing for years. And what I respect about what you guys did and covered just, you know, from a far like, I don't know everything, but you guys acted quickly and, you know, started to like, make some serious decisions. It's totally okay that you cut it, like decision
Blasting us, you know, because we, you know, grant grants connected with some of the wealthiest people in the world he's going into banks. And th that, that loan billions of dollars. And they're telling him all these macro economic things that are about to happen. And he's like, man, we need to make some changes here. It was like, you know, we, we acted really fast and then people obviously have their own opinions and they like to talk about that, uh, online. And so we got, we got ripped a little bit for it, but it was, uh, the right move for us. And this will be our best year we've ever had in our history. That's awesome.
Awesome. All right, man, let's get into it. Dylan, take us, take us to the promised land to this rich ed. I want to know that Jared was rocking. No, we'd love to kind of dive in to see what's working for, y'all kind of this point in time. So, I mean, what's, y'all's rich out in this scenario.
Yeah. We were just talking about this before. You know, we just did a challenge. Uh, we did a 10 day challenge with two bonus days on the back end of it. And then at the end of that on, I guess that would be day 13. We did a, a single day event that actually got marketed outside of the challenge. So we had challenged promotion and running. Uh, we added a couple of bonus days to it. I mean, we didn't announce that on the front end, but then about halfway through the challenge, we just basically launched a new offer for the 10 X gay. So it was a one day event grabbing people who, um, who maybe didn't want to be in a challenge or who didn't want to commit to a 10 day thing, you know, uh, and just promoted it as a separate standalone event. And so that was, uh, a pretty remarkable success. You know, we had over 250,000 people that opted into that. And, uh, you know, we were profitable on the front end before we did anything. So, you know, when you can acquire that many customers, uh, probably 75% of its cold traffic, um, you know, it's, it's a big,
Like 2020 is going to go down as the year of the challenge funnel, right?
Like, and, and I,
You really jumped on this quick man. Like, I I'm impressed with like a ton of other people did it and Jared's like, I'm going to do it too, but I'm going to do a bigger and better than everybody else. Like there's very few people, I know pushing 250,000 people into a challenge or a funnel. So walk us through some of the economics of that. Like, what was the offer? The price point
We, we offered on the, on the front end, it was a free opt-in, you know, you can join the challenge for free. Uh, there was a, uh, an upsell on the second page for a, uh, for VIP access. There was an order form bump on that page for a course. And then there was, um, sorry, it was an upsell for the workbook bump for an additional program and then an upsell for a VIP backstage access throughout the entire event, which means rather than watching it in the Facebook group, they got to go behind the scenes on a zoom. And, um, and then we were interacting with them and they got to stay after and they got like bonus Q and a with some of the guests that we had. Um, man, there's so many moving pieces in that, like, it's you gotta meet, Hey, I mean, we've got a big team. We probably have 30 people on our, on our team, 25 people. And it was, it was madness. It was like for literally 45 days of just chaos.
How was the transition from y'all from going to kind of in-person to virtual, uh, you know,
Uh, w w we had three. So the purpose of the challenge, I mean, really is to do this big Goodwill outreach and get a bunch of people together for something of value and show them, you know, locate, we've got this virtual bootcamp that we want to invite you to. And so the whole reason for that is because we had three live boot camps that we weren't able to do this year. And, and so, you know, we had tickets sold for these, we sold tickets at our last event. So we had this kind of like we needed to fulfill for these people. And it was wildly successful. People loved it. You know, I think ultimately people because of everything that happened, um, the adoption of video and remote and virtual, I mean, years were covered in three months. And so you could see people were doing challenges awhile back, but I think doing the challenge as a way to, to get people into a big virtual event with something that was just on this year. And, um, you know, there's only two people that I know that have done them like us, so we're one of them, and then there's somebody else. So,
And he's not going to be named on this number two doesn't matter. That's awesome, man. That's so cool. So I wanna, uh, there's, you know, some people listen on the, on the, uh, on the podcast that be like, you know, there, this is like way out of reach for them to do 250,000 people into a challenge or a funnel, right? So some of the listeners are still, you know, one man bands, agency owners, and they're trying to like figure out their own sales machine. So I would love it for you to, to kind of, uh, speak to that in terms of your, your expertise in sales management, managing oneself, and like, what should an ad agency do to like, get themselves out of this account management or out of fulfillment and just be relentless about managing their time, their schedule on, on sales,
You have to, you have to completely depart from the, the one man show, uh, kind of mentality where, you know, you've got a thing you're comfortable with it. You've got some clients that you're working with. You know, things are, uh, simple, simple, they're not complicated. Uh, you know, there's not a whole lot of demand in the environment. Uh, you gotta have to depart from that because you can't grow anything big without people. And so, you know, I think a lot of times what happens is business owners get to a point where they struggle for a year trying to get to the point where they're making a little bit of money and then they get to that point. And then they realized that the next they're kind of in a break point for them, the next level, they got to reinvest in their business in a pretty significant way, go back to kind of being super thin on, on profitability so that they can hire people and bring people in to continue to grow.
So right, when they think they're coming out of the tunnel on the other end, there's another tunnel, uh, ahead of them. So it's not really till you get through like three or four iterations of that, that now you have a team that's big enough for it to start being self-sustaining. You don't have to be involved in everything. By that point, you've gotten a few good hires in place that you can delegate a good bit of work to so that you can start managing the growth of the business rather than the actual doing of the work.
So basically you're saying is like, take a pay, cut, reinvest in the business, like double over, triple over, quadruple, down on it, multiple times over. So you can
Start to build out that team. Well, it just depends if that's a goal of yours, like some people may like that. They're like, Hey man, I'm going to make 150 grand a year or 200 grand a year. I'm going to be the only person doing this. It's going to require me to work. I'm going to be a slave to my clients. Uh, that could be your thing. If you're like to hell with that, like, I want to build a bit, I want to build a million dollar a month agency where I have people working on it. I can stay creative. I can go to events. I can be looking for the next hot thing. And I've got a group of people that I trust that are running it. Um, you have to, you have to take action each day as it relates to the thing that you're pushing for, not the thing that you have. So you're happy you have, it's going to be impossible for you to make the choices that, that, that I'm talking about, but the goal is to do something bigger than every decision you make in your business needs to be about. Is this decision going to get me regardless of how painful is it going to get closer to my goal? Or is it going to keep me more on that?
Yeah, that's so good. That's so good. This episode is brought to you by funnel Dash's add card, the only charge card exclusively for your digital ad spend in partnership with MasterCard. And if you are an aggressive affiliate filling with dozens of ad accounts, or you are in gray hat or black hat verticals, such as drop shipping CVD or other verticals where you're dealing with ad accounts, getting shut down, business managers, getting shut down, or even D platform from platforms like Facebook and Google, then you absolutely need to check out funnel dash as ad card. We give you unlimited free virtual debit and credit card. So you can have a dedicated card for every single ad account campaign. And you can attach any name and address in the U S you have complete anonymous entity on a card and at the card level. Plus one of my favorite features is that you don't have to pre fund or even top off like most typical virtual card solutions today. So if this is you and you're operating these verticals, whether you're an agency or an advertiser, then check out ad firstname.lastname@example.org. All right, man, I want to know you're not perfect. Let's dive into a poor ad. What's something you thought was going to work, and you're embarrassed to talk about slightly. And, uh, you were just raving about and, uh, and a totally bumped
Again, right on this. The, the, the freshest, uh, stab that I have is from during this challenge, you know, we're we were going through, I think we had two and a half weeks, or right at three weeks of run-ups. So ads, launch, testing, learning, optimizing scale, like we start going through this whole cycle. Um, and then we get to the point where we're like, okay, now we're really, we should be in the money right now. We should be able to crank spend up, uh, to the moon and like five days before, which, you know, should be your biggest push for a free event. Um, something, one of the developers changed something on one of the pages and it broke the pixel. And then we had to basically relaunch all of the ads. Uh, we were supposed to be in the money like big time. And, uh, we missed it. We like, we totally screwed up.
I love the marketing phrases you use. This is, this is like so unique to you guys. Like all the advertisers are using terms like ROAS and ROI and breakeven. You guys are like, I'm either in the money or I'm out of the money.
You know, I was like, I'm not an ad guy. I don't get behind, you know, and Facebook ads manager and go through and build ads. Like I just look at, Hey, how much are we spending? How much are we making, uh, spend more. Yeah,
No, I love it. I love it. So
Can you go 10 X without breaking something? Uh, if so, do that.
Yes. Yes. Well, that, that leads us into this next question really is like, how do you manage cash, you know, in your business? What are some financial principles or that you could share on how you look at doubling down? What do you invest in, in the business? How do you think about scaling ads is obviously one, one example, right? But, uh, at the highest level you're, as a president, you're, you're pretty much an investor of initiatives and like killing budgets. And so share with everybody a little bit,
You know, I don't think it's fair to, to say that from how we do it, because, you know, I got a war chest that I can tap for anything like our, our situation and the way we make decisions. Um, you know, like I'm not looking for ROI today, uh, for something that I know we're going to be committed to over the next year or two. So like willing to go in and lose money on deals to figure something out. If I'm a solo preneur, if I'm a solo business owner and I don't have the luxury of that, um, you know, I tell people this all the time, it sounds, um, cause we do not like to lose money, but, you know, we have the ability to be a little sloppier than some people have. We have the luxury of that, um, because of our size and scale. So, uh, we don't manage things as tightly in the beginning as a lot of people do. Um, but I think that what you need to look at is, you know, there's two to two rules, like sales is God and promote, promote, promote, and whether it's a paid or organic promotion, uh, and then getting on the phone or making pages work, doing whatever it takes to acquire customers, um, you know, that is the, the senior activity. It should be until you get an efficient where you can afford to be a little sloppy.
I love that. Uh, well, most people aren't in a position to be sloppy listening as podcasts. So like, how do you, how do you really think about like, what are some of the first, uh, early investments that somebody, you know, that's making, you know, 10 K a month or, or half a million a year, you know, what do you think some of those early investments are where maybe they're willing to lose a couple thousand a month, right? Like they're not going to go like start to lose six figures on some investments, but what do you think some of the first few that they should start looking at from a longer term perspective?
So it's, we always start with the offer, like, like where are they ultimately going to end up and then build everything backwards from the offer and understand that again, like I said earlier, like if you know where you're going, you make decisions based on where you're going. Uh, if we start with the high ticket offer, wherever the customer is gonna end up and work our way backwards. And that gives you a little bit more of a, of a vision on what you need to do in that first step. And if you're like, Hey, I'm taking this customer, hopefully based on these numbers and conversion rates and blah, blah, blah, blah, blah, uh, all those ad AdWords that you want to use. I know that it's going to cost, you know, a customer, the value of the customer that goes all the way through this could be worth three or five or 10,000 bucks. Um, and then you just do the numbers and you're going to have to guess a lot in the beginning. Um, and then start testing, start testing, small, we, everything we do, like we don't build an ad set and just go nuts and just go, you know, to the moon with it, you know, we still do $50 ads and we find out what works and then we prune and then we scale. And then we, you know, so it's, it's a lot of those same practices I think, uh, will work for sure.
So you're talking about starting with the offer. I want to know what is the, what is the best offer that you have in your opinion? That is just by far the most profitable, highest ticket, easiest to sell, because man, I'll be honest, like going to your guys's site, there is so many offers, man. Like, and you have to like probably archive a ton that like didn't weren't hits, but like, what is one thing that is just like most of the stuff,
Most of the, the, the info products that we sell, we don't sell on our site. Like they're listed in our Shopify store, but like, there's not a system behind it. So like, uh, one offer that we have that's crushing right now is called our tenant. It's called the 10 X income system. Um, it's an automated webinar, uh, that email@example.com and it has a virtual coach built into it. It combines sort of online education with a virtual coach to it, um, like a bot that works them through content based on targets and expectations that they set. So there's accountability built into it. So that's working really well, sort of from an automated funnel side. All of our book funnels are really, uh, close to break, even right now, just as an acquisition for that strategy for customers. And then a high ticket offer that we just launched is called the 10 X accelerator. And that's got three, two day workshops that can be attended either live or virtually. Uh, it includes a 12 month mentoring program and, uh, a ticket to our growth con. And we did like a little mastermind forum. Um,
When you operationalize these offers, right? Like it might be easy for you or grant to like spin these up, but you have a massive like Salesforce, right. So how does the entire Salesforce like keep this in their head of like what to focus on when they have, when there's like so many offers all the time,
A couple of teams, right? So we have a customer service team, which is basically, how can I help you? How can I fix your problem? And then, you know, how else can we, we do more business together and they're trying to find opportunities there. Then we have our, our CSR team, which is our internal sales team of 12. And what they're working for is they're going through, uh, abandoned cards, declines, uh, they're making outbound calls, just unsolicited, outbound calls to the list to talk about, uh, event tickets, um, you know, products, programs, our mentoring program, our inner circle program. Um, and then a lot of, but again, a lot of that is just like, um, unsolicited, maybe they open an email, uh, you know, we sent an email out, they opened it, they clicked through, they get a phone call, uh, you know, that's kind of like bucket one abandoned cart bucket, two clicked through bucket three opened, and then bucket four is, um, you know, they're on the list. So sort of moving, you know, uh, for this, uh, along the intent line all the way back to there just a record that we have in our, in our CRM, they'll make calls like that. Then we have our actual, our B2B sales team and they're selling the corporate, um, product. So they're selling, uh, uh, corporate Jack for sales training and that's, you know, a 30 $500,000 contract.
Yeah, that's awesome, man. Very cool. Jared, this has been awesome. I went and we've been all over the place, but tell everybody, you know, how we can support you and what's coming up next.
And, you know, uh, like, you know, business is like growing your businesses less about the ads that you're running and more about the people that you bring in. Otherwise you're just somebody running ads. So if you want to grow a business, you have to build a business. And that is really where our bread and butter is where I think we're less of a, of a marketing company and more of a business building company. And that's how we've made our name. That's how we, uh, you know, that's our main product is helping people become more successful in their business. And so I think that if, um, if somebody wanted to figure out how to go to some of those next levels in their business, they should, they should come to our growth conference, uh, 10 X growth con.com. Uh, if you want to go all in and spend a year, uh, with us in our team, we talk about in our 10 X accelerator program, uh, we basically do a done with you sales plan marketing plan, and then scaling plan to hire operationalize your, you know, hire people and operationalize your business. Um, and that's grant cardone.com forward slash accelerator.
Bye bam. I love it. Awesome. Thank you so much, Jared. This has been an amazing podcast. We'll have you back on soon. All right. Take care, guys. Thanks so much for listening to another episode of the rich ed Morehead podcast. If you're like me and listen to podcasts on the go, go ahead and subscribe on Apple podcasts, Spotify, YouTube, and rich poor [inaudible] dot com slash podcast. And if you absolutely love the show, go ahead and leave a review and a comment share with a friend. If you do take a copy screenshot of it, email me firstname.lastname@example.org. Show me you left a review. I'll give you a free copy of the rich add or ed book to learn more about the book. Go to rich ed for a.com to leave a review that a rich ed or at.com/review. Thanks again.
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Jason Hornung is the founder and Creative Director at JH Media LLC, the world’s #1 direct response advertising agency focusing exclusively on the Facebook ads platform. Jason’s proprietary methods for ad creation, audience selection and scaling are responsible for producing $20 million + of profitable sales for his clients EVERY YEAR