Sales Funnels and Scaling Beyond Choke Points

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After 10 years in the music industry, Dustin Ray started to hear about entrepreneurs in the tech space and felt the pull towards the flexibility that the online entrepreneurial field had to offer. As Dustin points out, there is no ceiling in the industry – as long you can build something scalable, you can take it as far as you want. The notion that you can create a value and see return relatively quickly was also an intriguing concept to Dustin.

Dustin’s company IncFile, specializes in the formation of business entities. Since starting, they have assisted more than 150,000 entrepreneurs and small business owners form their businesses. When Dustin got his start with the company they were not thriving but he and his team managed to grow it into an 8-figure company in a relatively brief amount of time. Today he’s here discussing how modifying funnels and honing customer acquisition strategies allowed for that growth. We also touch on the challenges of scaling a team to that size in a short time span and navigating the growing pains that inevitably pop up.

Episode Highlights:

  • How Dustin got into IncFile.
  • The processes that Dustin and his partner put into place to ensure the rapid growth of the company.
  • How IncFile is filling a gap and taking care of the stuff that no entrepreneurs want to deal with.
  • Through streamlined tactics and low costs, IncFile has become the leader in the industry and has continued to grow despite increasing competition.
  • Dustin shares the key elements to a good sales funnel and the tools his the team uses to work and refine their funnel.
  • Dustin shares his a 3-point strategy for finding a good starting point to getting into entrepreneurial tech.
  • How Dustin’s company was able to pass those pivotal “choke points” that many growing companies experience.
  • Scaling doesn’t necessarily equate with hiring. Hire slow and get the right people.
  • The importance of worrying about what you’re good at and building on that rather than trying to improve what you are not good at. Double down on your strengths.
  • Buyers who are often the most successful in their acquisitions are those who hone in on what they are good at.

Transcription:

Joe: So it amazes me, Mark, the people that we meet at these different events and that are just laid back casual seem like just good guys you want to go hunting or fishing with … not that I hunt or fish, it’s been a long time. I live in a lake but I haven’t gone fishing for a while or I haven’t caught anything for a while. Anyway, Dustin Ray strikes me as one of those people. I met him at Rhodium a few years back; totally laid back. I think you introduced him to me and surprised me later when you start talking about the numbers and what this guy is doing and so humble yet doing such incredible numbers. You had a chance to have him on the podcast recently.

Mark: Yeah I did and Dustin is one of those guys whenever he and I talk on the phone and you know it’s not as frequently as maybe I would like but whenever we talk it ends up being like an hour and a half conversation. Rest assured this is not an hour and a half long podcast but it could have been because he’s got a ton of information. His background is fascinating. He started out in the music industry promoting some of the biggest artists that we know. He was telling me that when he was driving down through Las Vegas and seeing some of the artist’s stuff on the board that are coming in, I mean these are … he knows who’s behind these things. This was his industry for a long time but he decided to leave that industry and was really drawn to the internet world and got his start with a company that was not doing that great at the time. He didn’t know it at the time but didn’t know at the ti

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