Learn Customer Acquisition Unit Economics, 7-Figures Bootstrapped Before Raising Capital with Lauren Nagel, founder Scale It For Me LLC.)
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Hey, It's Alex!
🍵 Here's Your Weekly Tea
I’m sure you’re probably tired of hearing about the same ol’ guys getting funding. You know - Steve from Stanford. There’s a reason Steve from Stanford keeps getting funding. No, it's not what people usually complain about. I’m going to be hella real with you and you’re probably not gonna like the reality but here goes... It’s VERY rare for founders to get a deal off of an "idea" from institutional investors. There’s a HUGE difference between VCs and friends and family - don't conflate the two. In the rare chance when a "napkin deal" happens, it’s typically because that founder had a prior exit and/or has successfully fundraised before. Can I let you in on something else? Founders who successfully fundraise signal or show investors that they can successfully raise another round because that's the name of the game. Once you raise, many founders keep raising until an exit. It's exhausting AF. How is fundraising ability signaled to investors? Through your network. Stanford Steve has access to a network that has the money to invest in the next round. Annoying? Yeah. But it is what it is. So what can you do? "Well if you don’t have that network, then you will have to raise capital on the merit of your business. That’s a higher bar to clear and requires more work and often bootstrapping." Aren't you happy Get Sh!t Done is all about that #Traction? Get the fundraising
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💸 HERE'S YOUR TRACTION BRIEFING
Founder: Lauren Nagel | Company: Scale It For Me, LLC | Location: San Jose, CA
Receipts: A marketing Queen and serial entrepreneur, Lauren Nagel has led marketing departments and has also scaled her business to the millions - even before seeking any funding. She's been able to do this by implementing scrappy marketing and understanding customer acquisition.
Here's your traction playbook...
How To Master Organic Marketing
Find The Voice Of Authority: Lauren Nagel's strategy for successful organic marketing is pretty straightforward. She looks for voices of authority within a specific industry. And by voices of authority, she doesn't mean traditional brand ambassadors, but rather people within the industry whose judgement and advise is trusted and sort after. People whose stamp of approval means everything. By acquiring this group of people, she is able to influence others to jump on board with her idea. Learn here how they use this strategy.
How To Validate Your Concept & Save Money
Cut Off The Middle-Man & Go Directly To Your Customers: Interview the users of your product at scale, i.e. interview as many people as possible. The best way to know if your product/service actually serves a purpose is by speaking to who it will serve. Although research from other sources is still necessary, the only way to validate your concept is by speaking and listening to your target customers. Here's how Lauren and Scale It For Me did this.
How To Lower Your Customer Acquisition Cost
Understand Your Unit Economics: - "The kind of holy grail is this LTV to CAC ratio, and you want an LTV to CAC ratio of 3:1 or greater. If your LTV to CAC is below that number stop. Reevaluate your product, create more value so you can charge more or go into a less expensive way to acquire your customer." - Lauren Nagel. The best way to know if your customer acquisition strategy makes sense is by understanding your unit economics. Get granular and find out how much is would cost to acquire one customer. Do the math. If the math doesn't add up, change your strategy and find cheaper ways to go about customer acquisition. Learn here which numbers you need to look out for when building your customer acquisition strategy.
Support Lauren in Scaling Impact: If interested, try out FindKeep.Love as an advertising platform, or simply tell your friends about their services.
TRACTION TOOLS: How to get it done...
Orgasmic Operations® = Pleasurable Profits: Learn how operations play into the client-facing side of business - sales, onboarding, user experience, etc. Secure your spot here.
Your Team’s Orgasmic Operations® Support: Learn how to define roles for your team so you can successfully handle project management, team communication, etc. Secure your spot here.
LIVE Office Hours & AMA: Come to ask questions and get feedback on how to set up and scale your company operations. Secure your spot here.
Set Yourself Up For Growth From Day One In Your Business: Learn how to set yourself up to scale your impact from the very start of your business, and do it on your own terms. Secure your spot here.
The Ultimate Guide to Calculating, Understanding, and Improving CAC in 2022: CAC is an important business metric. If you want to earn a profit while increasing your customer base, learn more here.
Focus On The Unit Economics: Here's how our Queen Millie Tadewaldt focuses on positive unit economics to fuel scale of a multi-million dollar empire without funding.
Validate Your Idea: Tiffany Dufu validated her concept with a landing page. Find out how here.
Benefits of Brand Ambassador Marketing: Here's why your business could benefit from brand ambassador marketing.
JOIN THE COMMUNITY: Join our community membership waitlist here.