so deal closes installation
what does that there because our goal is
really to ask them to buy again so in
this step very important contrast is to
deliver real value real impact to this
crisis so in the very beginning to get a
bit not so sure about our product
yeah it's its first time right so we
really really really need to translate
our product it was actual value so at
the end of the service they can
understand
Oh Division I really helped us a lot and
we should try that again this is where
the rubber meets the road
mm give us a sense of the time when
they're so our typical packages three
months
the reason is its data business so so we
want them to see the trends and also
usually the first month it's really dark
warming up we need to customize the
drummer general information they part
extra to fit our product integrate our
product into the system usually takes a
better one mass the 2nd mass we can
start to try to use our product the
third master would give them food review
so they understand how our data can help
them to generate more sales and built
what do you tell your students and what
should we tell our students here you
know once you through the door and
you're working with the custom but it's
your first time yes you know what you
should be thinking about
yeah well the first thing sometimes
people think it's done when they get the
order letter and it's not done because
very often you you're not going to get
paid based on the order letter you're
going to get paid on installation so
first of all you want to install it
properly and then so you get paid which
will be we'll get to in a second but in
yards case I think it's a really nice
example because it is eating paid on a
monthly basis I'm use of data or you
know he is an ongoing type of thing so
he is very focused on delivering value
to the customer getting it installed in
and showing value and that's really the
point you want to install it show the
value and this you know this is
something you can short circuit or all
this effort before hand has gone to
waste because they want to see value
that's what they're buying
you need to deliver it to him so never
confuse the sale with the installation
is what we used to say you need to sell
and then you need to install complete
the cycle as fantastic and you know here
we break it down in the way that
separates purchase from installation to
being paid you this relevant for you as
well you get paid after the purchase
after the installation
yes actually getting paid is probably
that the most important that and usually
this happens like long after the
installation so this is extremely
important that obviously go here is to
get money in the bank right like that's
really important so there is a
difference between a signed contract and
money in the bank excuse difference like
a contract is I was he went out and
stepped away from installation
installation another maybe 10,000 step
away from getting paid and that's why
each step prior to that is so important
because you want to make sure that your
odds of being paid a high especially the
good quality contract and if we really
can give a huge value to our clients
than our possibility to get money in
bank in the very smooth manner can be a
huge and they often say that if you fail
to think through how you get paid oh how
long it will get you paid that can be
the difference between the life and
death of your startup even if you're
solving a real problem and even if you
have a great product that's absolutely
it you know what you said before we'll
say it again
cash is oxygen to your business
yeah it's just like a body if your body
doesn't have oxygen it dies if a
business doesn't have cash it dies and
so here you have performed the service
now you have to think about how do you
bring that cash in because you need that
cash to sustain your business to get
more customers and you've already
expended all this effort to acquire the
customers to build the product and get
out there so it's critically important
to understand how you get paid and you
can think about your business model ways
that you push that up front you can
think about it in the car
tracks how you do it up front but if you
just let it be
you could end up with 60 days or three
or you know 90 days three months and
that could be devastating to your
business
yeah so doing this analysis thinking
about it a priority beforehand and then
trying to build things into it to shrink
this to make it easier is very very
important and i really like John's
attitude you know that this is we are
not done until we get the cash in the
bank and that's exactly right that's why
it's a successful entrepreneur so yeah
how long does it usually take it to get
paid
depends on customer type but for TV
network especially our current crisis
because they're very happy about our
service usually it's one month
this is amazing this industry that's
great one month is amazing
mhm wow great