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Vinnie Fisher

๐Ÿ‘ค Speaker
121 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

The operator of that business, Terry, who is also my business partner, he has specific goals set by me, our chairman of the board, that we're pushing out profits to the partnership at a profit margin of net, hopefully, north of 20% every month.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

Yeah, so if you actually, just to go along with that, so if you were looking at fully accountable in there, in our dashboard, we have calculators that I've built over time.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So we call it solving for X. So it's like, I think it's our first calculator.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

I don't have it in front of me, but it is the variable we do to solve for our marketing expense.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So we preload in the math we want for the margin, and that will tell us our allowable expense to acquire a customer.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

And so we start with a premise that we want a 20% profit margin in that business, and we build the rest of our math around it.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So it's not really $40 to acquire the customer because you have fulfillment costs.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

You're going to actually pay between 10 and 15 points to get the product in someone's hand.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So in your math, let's just call $5 as 10% for the $4.70.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So just make it five for math purposes.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So off the $50, I've got at a minimum $5, but more like $7.50 to get that bottle in the consumer's hand.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

Then I've got some breakage.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

That's everything.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

That's the cost of the bottle and the shipping in the customer's hand, 15%.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

You then have your merchanting costs.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So you're going to have about six points all in with your fees and your costs.

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

So you spend another 6%, which is about...

SaaS Interviews with CEOs, Startups, Founders
How to Be A Parent And Make $1,000,000+

three dollars on top of that five so you're at a little over let's say about eleven dollars into the product yep then you have um your cs cost which is about what does cs mean customer support you have customer support so you're going to have about a one percent load and so that can move a little bit for volume but we we plan at one percent overall on that so 50 cents