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all right guys this video is gonna be what i wish i knew when i started my lead generation business i'm gonna share the good the bad just everything so if you're thinking about starting a lead generation business before you do watch this video now i feel like i'm a pretty qualified person to actually give my insight and advice on this topic because i actually started doing lead generation and i did it full time like i i just went full time into it in 2010 so here's a real world example of how lead generation works let's say that i was a homeowner in cedarburg wisconsin and i was looking for a roofing company to either give me a new roof or provide a service on the roof that i have maybe it's leaking or something like that i would probably go into google and type in cedarburg roofing and i would scroll down and click on one of the top results for it let's just say this one so i click on the top result and i'm taken to this website right here cedarburg roofing pros now at this point when i call this phone number or i fill out this form this is going to be directed to a roofing company in the area and this is actually an example site that i built for you just to show you exactly what a lead generation website looks like so every time that happens you would essentially get paid for that all right so one of the biggest questions that people usually have when they're thinking about starting a lead generation business is what exactly is a lead defined as is it defined as the client actually gets a job is it defined as you just send them like an email with the client's information is it defined as a phone call so let me tell you the way that i go about it we define a lead as we send someone a lead of someone who's interested in their service so it could be a customer who has a roof leak or a customer who wants a new roof installed on their home they're looking for an estimate that to us is a lead now it's up to the actual business owner to you know close that lead and actually get the job and it's up to us to actually provide them with someone who's actually qualified and interested let's talk about the earning potential of a lead generation website so let's pretend that your roofing client determines that they're willing to pay you 50 for every single phone call or lead that you send them and let's pretend that on that month you send them 10 leads that would be 500 a month from that single client now you can imagine how this starts to get pretty lucrative either you start to send them more leads maybe instead of sending them just 10 you send them 20. now you're at a thousand dollars a month or you start to build more websites and take on more clients maybe in the same niche but in different areas or in different niches all over the place it starts to get pretty lucrative and if you do a good job at picking the right niche and location where it's not super competitive this starts to get pretty passive as well so now that you know what lead generation is how do you know if it's good for you well it's perfect if you're maybe looking for a side hustle if you're wanting to start a part-time thing to do on the side of your full-time job maybe with the goal of eventually moving into full-time like maybe you just need some extra income to pay extra bills or to just relieve the burden of some debt whatever it may be legion might be a good source for you to do that so i plan on doing a series of videos that build upon this and what i'm going to do is i'm going to leave a link below this video where you can enter in your email to get notified every time i hope i do a new training series like this a new video to this series now there are pros and cons to every business model out there i'm not gonna lie to you and say that there's nothing bad about this business model i don't care what business that you're thinking about going into there's gonna be good things about it and there's going to be bad things about it but you have to decide like do the good outweigh the bad so what i want to do is i want to help you make the decision that's right for you by kind of listing out what are some of the pros and cons of this business model so you can make the decision of if this is something that you think you want to pursue or not so let's start off with some of the cons of the business model and then we'll get into the pros after that well the first con that i can think of is that you're going to have to actually work with business owners so that's really true with any service based business so if you think about it it doesn't matter whether you're doing social media marketing it doesn't matter whether you're doing seo like you're going to be dealing with business owners in one way or the other any type of business that provides a service now the cool part is though with lead generation there's software that can actually automate a lot of the things that you would have to be doing like sending reports like sending invoicing that kind of stuff even sending the leads and forwarding the leads to them this stuff can pretty much be automated so that you're not really like having to go and talk to them all the time or you know follow up with them all the time like most of this stuff can be automated nowadays which is great so the next con that i can think of is that you're gonna need to actually find a business that wants to buy the leads from you and i know that this may sound silly but there are certain times when you'll contact the business and they just aren't interested in more work either they just don't want any more work they're not sure how to scale and oftentimes that's usually a symptom of going after the wrong type of client maybe it's too small like a small mon-pa shop and they just don't understand how to scale they don't understand that they need to hire more people they're not interested in hiring more people so you can combat this one by simply going after people that understand the value of this whether it's people that are already paying big companies like homeadvisor for leads that they're not happy with or whether it's companies that are spending money on advertising like on google okay you can be better assured that they are going to be qualified and more interested in taking on more work and getting more business so this usually isn't too hard of a a problem to to combat but it can be one of the cons of the business model if you're prospecting to the wrong people all right so let's talk about another con which has been created due to some of the other bigger companies in the industry and that is some business owners that you try to sell leads to are skeptical of the lead quality due to the fact that they've been i guess burned by some of the bigger companies out there some of the bigger lead generation companies out there they will actually take a lead that they get so say a homeowner calls and says they have a leak in the roof that they want repaired and they will sell that same lead to five different people at once and what ends up happening is they end up competing on that lead and they end up having to pay for a lead that they were basically sold in competition for which obviously makes them not so happy so one thing that you can do is ensure that there's going to be good lead quality is number one tell them that you're going to offer them leads exclusively the other thing that you can do is that you can set up other features to ensure that the lead is going to be good quality and educate them and set expectations on what your lead quality is and how it works now luckily there are ways that you can combat this for starters you can filter out a minimum call duration like let's say if the lead doesn't stand the phone for 45 seconds then you're not gonna charge them for it the other thing is you can ignore duplicate so that if someone calls back and they already called the client you're not charging them twice for the same lead this is going to help solve a lot of problems before they even become problems but if you really want to go above and beyond you can do what we do and that is you can give your clients the ability to actually dispute calls when you send them their call report every billing period so that way they can just click a simple button to dispute the call and it'll send an alert to you to look it over and you can either approve or deny it i mean think about it at the end of the day if a client disputes a couple of the calls that you send them during a billing period is it really worth losing the client over if they're not happy with the lead quality that came in i don't think so personally personally i'm willing to lose a few leads here and there if they were not good leads in the first place in order to keep the client happy i did mention this slightly earlier as well a lot of this comes down to how much you're going to actually charge the client per lead like if you're working with a roofing contractor and you want to get paid a thousand dollars per lead well then of course they're going to want to make sure those leaves are roof installed and that they're actually closing the deal or you're not getting paid but what we would rather do in our agency and what i recommend you do is instead charge less per lead maybe 50 a lead and you set the expectation with the client that it's up to them to close the deal you're gonna get paid on a per lead basis no matter whether they close or not close and in exchange you're just going to do it at a very very low and fair price knowing that some of the leads will close some they won't but at the end of the month it's going to balance out that they're in a good position and they're happy with paying you for the leads so now that we talked about a lot of the cons of the business model let's get into some of the pros and then this will help you decide whether the bad outweighs the good and if this is a business model you want to pursue well the very first pro that i can think of is that this is really one of the only business models that allows you to get started as a beginner with no existing proof i mean if you think about any sort of client retainer model whether it be seo or website design or social media or running ads or anything like that the client is going to expect some sort of proof of past results meaning that you're kind of in this never-ending hamster wheel where you don't have a client because the client that you're trying to get wants to see some work that you've done for previous clients so you just don't have those results and it leaves you on this never ending hamster wheel but with lead generation it's actually quite easy to get started as a beginner starting from scratch even if you're learning because you can learn as you go because there's really nothing on the line like you're literally building up an asset like a website you're actually doing the work ahead of time and by the time you approach the client you've already got the leads in your hand so there's really no risk on the client at that point other than whether or not they think your leaves are good or not which you can simply prove to them pretty easily by letting them try a couple of them out now another pro of this business model is that you actually own all of the assets outright which is great because if you think about if you were doing client seo on a retainer basis you're working on the client's website the client's uh domain the client's branding everything is based around the client well what happens when that client decides hey you already ranked me i don't need you anymore well guess what they stopped paying you and this is one of the biggest reasons why i decided to actually get into lead generation is because this it never happens anymore you own the website you own the domain name you own all the branding your only obligation to that client is to as long as they keep paying you to keep sending them qualified leads if they ever want to stop no big deal you still own everything you just go and forward them to someone else that you want to work with now one of my favorite parts about this business model and i consider it to be a huge huge pro is that once you've done the leg work of setting everything up and yes that does take work to get everything set up don't get me wrong once it's set up though if you went after something that's not super competitive with software and different things you can actually have this business model be very very passive i have sites that i've not had to touch in years and they continue to generate leads for me my clients continue to pay me for those leads and all in all it's become a very passive income source but i really like lead generation over doing a retainer model like seo because if you think about it at the end of the day clients they don't come to you saying oh hey i want to purchase seo services from you right that's not really why they buy seo why they buy seo is because they want to rank higher so that they can get more clients so at the end of the day what the client wants from that seo is they want to benefit from it they're buying because they want more clients so there's no leg time with lead generation you're basically skipping all of that and skipping straight to the clients you're just connecting with the business owner and saying i got what you want you want clients here they are and that's it like it just makes so much more sense in my opinion now another big pro is that you're going to feel more confident actually going and doing this business model and going after clients if you're going the lead gen route because let's face it when you're just starting off you have a lot to prove you have a lot on the line if you go out and do a retainer-based model where you're trying to get an seo client or a social media client or a paid ads client right you're you have to make promises to the client and hope that you'll figure it out or that you're going to know what you're doing enough to figure it out and this can lower your confidence level but with lead generation you already have the leg work done you've already got the leads in your hand so your confidence shoots up through the roof and clients quite frankly when if you're ever talking to them they can feel that confidence off of you it's it's like an energy that they can feel off of you they just know that okay he's confident in his ability and they're going to be willing more so to put their trust in you because of that so if you feel like that's like a stumbling block for you like knowing like oh i want to make sure i'm confident enough to do this then lead generation might be a model that's for you all in all there are a lot of pros to lead generation and in my opinion the pros here outweigh the cons and that's why i decided to pursue this business model all right so let's talk about now what you actually need to get started doing lead generation well the very first thing you're going to need to do is you're going to need to decide on what niche or industry you're going to work with now i recommend that if you're going to go the lead generation route you pick a niche where the the company actually goes out to the client to service them and it's just easier that way because then you don't have to worry about you know um having a physical address up where prospects want to come in for an appointment or anything like that like if you think of niches like plumbing or heating or roofing like they call up they say they want an estimate and then the client goes out to the to the house and gives them an estimate now one of the easiest ways to come up with niche ideas is to just look at some of the bigger companies that are already doing lead generation you can go down on a website like homeadvisor.com or angie which is formerly known as angie's list and you can see they have cleaning services handyman moving kitchen remodel bathroom remodel lawn care like these are all very good ideas of niches that you could potentially go into and these companies are actually fairly easy to compete with because they sell these leads to five different people at once if you work with just one person and provide leads to them exclusively you're going to have a big edge over these bigger companies like homeadvisor and angie's list those are the niches you want to think about when you're deciding on a niche to enter when it comes to lead generation and also because those are the niches that are pretty used to paying for leads and it's not going to take much convincing to get them to buy leads from you after you decide on a niche one of the next big things you're going to have to decide on is the location that you're going to target now if you're interested in let's say targeting a city like orlando what i would instead recommend you do is actually zoom out and look for some of the suburbs that are surrounding orlando because that's going to make things less competitive for you especially if you're first starting off so if i'm thinking about orlando i might decide to go out a little bit maybe target like claremont or mineola or apopka or winter park these might be better options for me to make sure that my business can be more passive and i'm not always having to compete against as many people because of course the competition is going to flood to the orlando area because that is the bigger city and you'll still generate plenty of leads this way but you'll do it without the competition now the next thing you're going to need to do is you're going to need to get started and actually build a website and come up with a name for your website now i can't stress this enough it is important to make sure that when you do start to think about what you're gonna name your website that it is generically branded so i wouldn't want to have created this website and called it bob's roofing or harry's roofing instead i named it whatever the city name was roofing pros or i could have named it like city name roofing services or reliable roofing services the point is is that it's so generic that i could basically send the lead that comes to this website to anybody that i want so if one client doesn't work out i can then move on to a different client now don't worry if you're not sure how to build the website because i'm thinking about putting out some more videos on how to do that i'll also leave a link in the description below if you want to enter in your email address and get alerted of those new training videos when they come available you can go ahead and do that and then i will shoot you an email when we have that training available if you can type out an email in gmail then you can build a website nowadays very very easily it's not very hard of course if you don't even know how to turn on a computer then you're gonna find that hard but if you know how to like do social media send emails and i think you'll be able to build a website using one of these drag and drop editors alright guys so there you have it that is everything you need to know and to get started with lead generation again i will leave a link below this video to enter in your email if you want to learn more about lead generation you want to be notified of my future training on it and i will have some more videos up here that you can watch as well thank you so much for watching i am paul james we'll see you in another video peace out