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hey guys what's up welcome back my name is zach calhoun i'm the co-founder of cloudpiano.com the world's best virtual tour software today we're going to talk about an interesting topic how to create a million dollar virtual tour business what's the path ahead what's that business look like and is it possible for you well the short answer is yes it's possible there's already virtual tour companies that are providing this service two large institutions and crossing the one million dollar mark and there's lots of money flowing into the virtual tour space right now right now whether it's institutional investors whether it's the virtual tour software companies whether it's virtual tour providers so can you bring in a revenue a top line or even a revenue number of a million dollars a year with virtual tours as a service now the short answer is yes you can and and some companies are already doing it the long answer is it's going to take a lot of work and a lot of thinking and structuring up front to get to this point so what do i mean well number one you cannot create a virtual tour business targeting realtors that's just the way it is oh i'm sorry i'm gonna go backwards you cannot create a million dollar virtual home business with inside the real estate industry the reason why is the margins are too low and it's very difficult to get the amount of volume you need to get that eighty thousand dollars plus per month in revenue now it's possible but it would require a large team so if you're okay with the low margin business you may be able to get two million dollars at 80 000 a month but you have to have a large team and a huge amount of volume and have great partnerships already in place in that space a easier path or a better path in my opinion is to target large institutions that are already paying lots of money for this type of service an example would be the university space the college space these have lots of tax dollars behind them they're already paying 15 25 000 virtual tours some pay more based on the level of service they have lots of money they are willing to pay lots of money and they understand their need already so they're already educated in the market so that's a good niche to go after okay now if you are by yourself joe blow freelancer it's going to be hard to close down that big sale so your positioning matters now you can be a lone gunman but you have to be smart about it here's what i mean you need to have the look of a million dollar business before you can become a million dollar business which what does that mean well your website has to be clean tight has to look like you know what you're doing you have to have case studies examples and you already have to be doing it in the space as in you're already providing value you already have customers since have that space you are targeting also too you have to have a team you have to at least have access to a team you have to have a probably a picture of all your team on your website you got to be the real deal okay this is what separates the small time provider from the million dollar producer the mild producer has all the resources needed and goes into a big sales meeting with their team okay you the ceo are going to have to be present when you make the big sales you can't just send off your sales guy but you better have access to a sales guy or at least someone you have on contract that can help you if you close the deal so how do you do this if you're just starting out and you want to reach these high goals well number one you need to target a big fish number two you need to position yourself with great authority in that space number three you need to have a team and number four you need to be able to at least pretend or or should i say show and share that you're the expert in the space and then pull the resources as you need them so when you're just getting started you don't have uh you know any team available well you need to go recruit people who would be a part of your team if it goes well get your brother get your cousin tell them what you're doing and say hey listen if this goes well i'm filling you guys faces on the websites because we're going to be a team together and of course they're going to say yeah sure why not you're my brother i love you you're my cousin of course i would you know i'll be your pretend partner for now we've seen cloud pnl users do this type of approach where they are recruiting a sales person a marketing person and going to sell the institution together rather than one guy by himself in the room of five people it's two guys or two gals or two guys in a gal or three gals going together as a team and making big promises but also having more resources to back it up so you can make the big promises and put together together those big deals now also to close high ticket transactions you need to be able to justify the value to the institution that means you're going to have to be able to put together big ticket offers and have them make sense to the client they better be making roi that's clear that's razor sharp and if you cannot make bring that with clarity and get good at mine information and justify an roi then high ticket is going to be hard for you to sell don't worry about the amount of time or hours you spend doing something doesn't matter it's all about the value and roi to the client that's all that matters and you can make long-term promises and justify them with big ticket prices behind them okay so the million dollar question can i create a virtual tour business that passes the one million dollar mark the answer is yes but it takes a lot more work and a lot more upfront work most likely you may at your first couple years land below that mark and that's okay get started is how you make progress things tend to happen fast in business once you start going down a road or a niche and you start to get wins and get some sales you'll notice that quickly things compound and the snowball begins that's where you want to be you if you're at the top of the mountain your snowball is really small you still want to push it and get it moving if you're wondering how do i do this where do i get started i highly recommend checking out our free webinar at virtual tour profit.com it teaches you how to get started how to build a team how to outsource how to scale and how to send your customer value so that business owners pay you for your virtual tours so as you look ahead at your business plan what is your repeatable method to bring high-ticket clients and have qualified leads on your calendar who want to pay your company to create world-class virtual tours for them and of course host them on cloudpiano.com best of luck in your endeavor keep pushing it's okay if you don't make a million dollars this year but if you set your goals high even if you don't meet him at least you made it you probably are gonna reach a higher level than you expected uh with no goals at all okay thanks for joining me in this video i'll talk to you soon