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This business coaching lesson teaches about business technology in your business plan.

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Featured Coaching Excerpt - Notes & Transcript, Part 1

[MUSIC PLAYING]

 

-So moving on here. Now we're moving on to this next one. This right here is one where people go, I don't need technology. I'm a plumber, man. I don't need technology. I'm a landscaper. I don't need technology.

But here it is. Let me give you the notable quotable. "Describe the technology behind your solution. Focus on how the technology enables the differentiated aspects of your solution. If appropriate, mention patent status."

Obviously, these guys that pitch hacks, if you look up to the website AngelList, Naval and Nivi started that. They're very successful in the tech Silicon Valley world. But this still applies. What technology do you need for your company to do what you do? What is it?

-A camera.

CLAY CLARK: You need a camera? Cool.

-Yeah.

CLAY CLARK: And you need editing software, right?

SPEAKER 1: Editing software, yeah.

-What about customer relationship management software?

SPEAKER 1: Oh my gosh. So is that like--

CLAY CLARK: Like Infusionsoft.

-OK. Yeah.

-Infusionsoft is what we use. And we use them because it's a good solution. It's easy to--

SPEAKER 1: I forget-- remind me what that is again. I've heard about it a ton.

-What it is, like if you booked a customer today, and the customer's name was Clay. And you know, this is a disturbed man who used to make cheer mixes.

SPEAKER 1: Oh, jeez, yeah.

CLAY CLARK: You could go in and put in his name--

SPEAKER 1: Sounds horrifying.

CLAY CLARK: And then you can put in his note, and you're like, little bit worried about this one, but he's into cheer mixes. And then you might say, and note, he appears where the same thing every day. So he has kind of a same clothes. And then you put under-- last time we hired him, or he hired us, he paid us $1,000. And he rented microphones to us. Right?

SPEAKER 1: Mm-hm.

-So now, if you're marketing every day, there's no way you're going to remember who I am, what I'm about. So with the DJ company, before I sold it, we had 4,000 weddings a year. So people would call, and you would go, thank you for calling DJ Connection. This is Clay. How can I make your day great?

And they go, hey, yeah. I'm the wedding, you know, that's at-- and you're going, who are you? I'm the one that's over there by the Oaks, you know. Amanda. My wedding's at the Oaks. Amanda. And you're going, Amanda, hug and kiss? No. You say, Amanda, and they go, you know, Amanda Smith. And you're like, yeah. And you don't know.

SPEAKER 1: Smith. [LAUGHS]

-So what you need to do is you need to have a CRM software.

SPEAKER 1: Yeah, OK.

-Cool?

SPEAKER 1: Mm-hm.

-So I'm just asking you and the Thrivers watching if you can take a second, write this down. What is all the technology that you need? At very minimum. Everyone here needs the actual tools to get the job done. You're going to need a CRM, Customer Relationship Management software, and you need something for accounting.

And some of you are like, accounting. I don't do accounting. I don't-- you're going to go to jail, Holmes. You've got to do accounting. You can't not do accounting. Have you ever had a tax bill that's like in excess of $30,000? That is sweet. And as a man who's been audited, no one loves the IRS more than me.

I'm just saying. When you get audited, it it is a special time. And you-- that is a time when you sit down and you reflect upon your patriotism and how happy you are to pay taxes, and how you wish that you would have had an accounting software. So knuckle up. Get serious. Get it done. Get your accounting software.

-Are you talking about-- right now I use FreshBooks, which is like a--

CLAY CLARK: That's cool.

-Is that basically what you're talking about?

CLAY CLARK: Yeah. FreshBooks is cool. What's not cool is not having something.

SPEAKER 1: OK.

-So you want to think about the technology that you need. And again, we will send you the outline, Thrivers, so you can check this out.

SPEAKER 1: OK.

[WHOOSH]

 

Featured Coaching Excerpt - Notes & Transcript, Part 2

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