Call them. Leave message. Wait. Guy may or may not call you back. Quote by phone or email. Scan signed contract.
A self storage facility we purchased recently had a lot of this.
Drive across town M-F 9-5. Spend 20 mins. Sign paper lease.
Customer friction is a huge part of running a biz.
How hard is it to engage a company to work with you?
Data-driven companies obsess over reducing this friction.
Mom-and-pop operators SUCK at this and it’s costing them millions.
Here’s what I’ve learned 👇👇👇
Call them. Leave message. Wait. Guy may or may not call you back. Quote by phone or email. Scan signed contract.
A self storage facility we purchased recently had a lot of this.
Drive across town M-F 9-5. Spend 20 mins. Sign paper lease.
Owner charged $52 a month for a 10x10. Completely full.
We instantly setup software for online rental.
No phone call necessary. Rent a unit in 4 mins from your browser.
Go straight to your unit 24/7. Type in gate key that was sent to you by text. Lock and key waiting in unit.
We can now charge $77 a mo for the same unit. $25 more. And we rent MORE units faster.
That $25 increase per unit across the board turns out to be a 35% increase in revenue.
That takes revenue from $14k a month when I buy it to $18.9k a few months later.
An extra $58k to the bottom line over the course of 12 months.
By making one simple change.
The property goes from being worth $1.3MM to $2.08MM.
And I can refinance out all of my initial cash 12 months later and keep the cashflowing property.
One of my coaching clients runs a pooper scooper biz in Minneapolis.
The first thing I noticed was his signup form was clunky.
No language to help get customers to finalize the appointment. He also requested a credit card off the bat.
Since we made that change new signups have DOUBLED.
Less than 10 clients have taken advantage of a free yard clean without paying and staying on.
With one change that took 10 minutes to make.
It’s a bigger deal than you think.
How hard is it to become one of your customers?
Facebook and Twitter obsess over the user experience. Reducing friction on things they want you to do. Spending millions to speed up the app by .001 seconds.
More from Nick Huber
More from Business
Introducing "The Balloon Effect"
Many businesses & creators have experienced a similar pattern of success.
From @MrBeastYT and @MorningBrew to @oatly and @Rovio.
Let's break down what "The Balloon Effect" is and examples of it in real life.
Keep reading 👇
1/ What is "The Balloon Effect"?
It is a particular pattern of growth.
It is not Instagram's growth trajectory.
It is not https://t.co/5axsTUKek6's growth trajectory.
"The Balloon Effect" is defined by several years of hard work & grit complemented by slow, linear growth.
2/ And then one day, one month, or one quarter...everything changes.
A business hits a tipping point and its trajectory shifts entirely.
Gradual growth turns to exponential growth & your brand and your size explode.
Like a step function.
3/ Now, you're probably wondering.
Why is it called "The Balloon Effect"?
Because filling/popping a water balloon follows the exact pattern I just described (and so many businesses experience).
Long unsexy slog 👉 Exponential tipping point.
4/ Initially, you turn on the faucet & water takes up space in the empty balloon.
Through effort you open the faucet, yet the results are unexciting.
But it's what must be done for water (or growth) to happen at all.
It's not sexy, but it's necessary.
Many businesses & creators have experienced a similar pattern of success.
From @MrBeastYT and @MorningBrew to @oatly and @Rovio.
Let's break down what "The Balloon Effect" is and examples of it in real life.
Keep reading 👇
1/ What is "The Balloon Effect"?
It is a particular pattern of growth.
It is not Instagram's growth trajectory.
It is not https://t.co/5axsTUKek6's growth trajectory.
"The Balloon Effect" is defined by several years of hard work & grit complemented by slow, linear growth.
2/ And then one day, one month, or one quarter...everything changes.
A business hits a tipping point and its trajectory shifts entirely.
Gradual growth turns to exponential growth & your brand and your size explode.
Like a step function.
3/ Now, you're probably wondering.
Why is it called "The Balloon Effect"?
Because filling/popping a water balloon follows the exact pattern I just described (and so many businesses experience).
Long unsexy slog 👉 Exponential tipping point.
4/ Initially, you turn on the faucet & water takes up space in the empty balloon.
Through effort you open the faucet, yet the results are unexciting.
But it's what must be done for water (or growth) to happen at all.
It's not sexy, but it's necessary.
