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Matterport Pros: Pay Yourself a Commission?1763

Forum
Founder
DanSmigrod private msg quote post Address this user
If are a one-person business, you wear many hats ...

✓ photographer
✓ sales
✓ operations (everything else other than scanning or sales).

When you think about pricing, I suggest giving some thought to: 50/30/20 ...

✓ 50 percent to the photographer (that's you)
✓ 20 percent to sales (that's you)
✓ 30 percent to operations (that's you)

When you think about pricing in context to 50/30/20, then you can think bigger about how to grow your business.

Examples Include

✓ maybe I should add a sales person and pay them 20 percent
✓ maybe I should pay other Pros 50 percent to scan spaces
✓ maybe I should offer my scanning services to other Pros 50/50
✓ maybe I should allocate 20 percent of time/revenue to sales

My Concerns Include

✓ if you can not afford to pay a sales person 20 percent, you can not scale your business beyond just you.

✓ if you can not afford to pay another Pro 50 percent, you can not scale your business beyond just you.

✓ if you are not paying yourself - or someone else - 20 percent for business development, then you are probably not charging enough. For clarification, would you be willing to scan spaces at 20 percent less, if someone else developed business for you? Would you be wiling to scan spaces at 50 percent off, if someone else handled sales and operations for you?

And, by the way, that's 20 percent for at least 12 months from the first order: not just 20 percent for the first project.

What are your thoughts about 50/30/20 or paying a sales person 20 percent?

Best,

Dan
Post 1 • IP   flag post
danmorell private msg quote post Address this user
Hi @DanSmigrod,

I was recently thinking about this exact topic.

"20% for at least 12 months from the first order, not just 20% for the first project."

I recently sent a referral to someone. I know they'll get at least 5 more jobs from this referral over the next year. This isn't even including referrals from my referral.

Based on this I was able to push up the referral % but I knew I couldn't track the jobs beyond the first so I didn't engage residual referral fees.

As much as I would love to trust the other party to do the right thing and pay residual jobs, I have my doubt this would happen.

I thought about routing all the billing through myself and the other party just complete the scans but I could see this becoming problematic if issues arise.

Do you have any suggestions on how to navigate this hurdle?
Post 2 • IP   flag post
Forum
Founder
DanSmigrod private msg quote post Address this user
@danmorell

If you follow my rule of 50/30/20 for your pricing, then rather than referring the lead, let the lead know it's the same pricing that you charge locally and that you can handle the business anywhere.

Since you price using the 50/30/20 as a guide, you should be willing to pay up to half of your quote to a Pro in a distant city to handle the project. You get 20 percent for sales and 30 percent for operations. So, 50/50 ...

So how do you find a Pro? The We Get Around Referral Network Map makes it super-easy and super-fast to find a Matterport Pro. Or, PM me and I will either find one or post a Matterport Pro Wanted notice. (Many Here)

I could imagine that it is "not worth it" to do the above for just one distant order, so, consider referring the lead to the We Get Around Referral Network (via me) and I will find a Pro (and you will receive a free month of Membership in the We Get Around Referral Network (if the lead results in $500 or more in business). Simply PM me the lead or use our Contact Us Form.

(Members of the We Get Around Referral Network can link this referral form to their We Get Around Referral Network Badge on their website.)

One of the We Get Around Referral Network Marketing videos – customized with the Members' contact info and logo – is about helping potential clients via referral or booking a Pro anywhere.

A number of Pros already use the We Get Around Referral Network Map (and/or reach out to me directly) for help sourcing Pros in multiple states. For example, two Matterport Pros have booked hundreds of Matterport Spaces with Basic, Standard and Premium Members of the We Get Around Referral Network. (Benefits | Join)

Best,

Dan

P.S. Since you are both a Matterport Pro and real estate agent, you may find this marketing video - customized with your contact info and logo - helpful.

Video D: Referrals and One-Order for Matterport Scanning Anywhere
Post 3 • IP   flag post
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Member
CathieRasch private msg quote post Address this user
Thanks so much for this important post Dan. I would add that providers need to include their business expenses as a category. Please be sure to include travel time, gas, marketing expenses, health insurance, Matterport fees, other web fees, recovery of investment in the camera, ipad, etc, future upgrades/replacement of the camera, ipad, etc, FICA and Medicare taxes and so on.

We have a provider that is doing scans at a very low price in our area. I have run the numbers and there is no way that he can make a good living at the rate that he is charging. At the rate that he is charging it will take him 43 scans just to recover the cost of the camera and ipad,
Post 4 • IP   flag post
Forum
Founder
DanSmigrod private msg quote post Address this user
@CathieRasch

Thank you for your kind note (and thank you for being a Member of the We Get Around Referral Network).

Yes. In my 50/30/20 rule, each "slice of the pie" needs to include expenses.

Photographer (50 percent) - gear, travel expenses, insurance
Sales (20 percent) - travel expenses / time
Operations (30 percent) - web hosting, accounting, Matterport fees

Yes. I can imagine that we will see many Pros selling their Cameras on eBay because they could not make a living (because they priced at below cost).

Being busy does not mean making a living.

All,

Do you agree or disagree with me and why about my 50/30/20 rule?

Dan
Post 5 • IP   flag post
Basic
Member
davidpylyp private msg quote post Address this user
What a great post Dan!

Thank you

( you missed provision for TAXES on profit)
Post 6 • IP   flag post
Forum
Founder
DanSmigrod private msg quote post Address this user
@davidpylyp

Thanks David. And, nice to see you quoted in the Matterport press release about Matterport Begins Shipping Cameras to Canada
....

Yes. All expenses – including taxes – need to be figured into my 50/30/20 rule.


Hi All,

Do you agree or disagree with me and why about my 50/30/20 rule?

Best,

Dan
Post 7 • IP   flag post
Dreammachine private msg quote post Address this user
Hello @DanSmigrod and forum,

I agree with you, there must be a baseline you establish and most importantly the ability to scale.

The only way to meet any baseline payment distribution standard is through the attraction and transfer of funds (i.e. getting paid) from new and recurring business.

I wholeheartedly feel that this business has the ability to charge a premium for services rendered. This is an interactive hardware and software combination that delivers the end user (customer) an amazing, easy to use platform that showcases their product in an interactive, alway available way that they stand to profit from.

As @CathyRasch mentioned, there are people scanning at a low and probably unprofitable prices.

For that reason, I am sharing the video below that touches on premium positioning.
Post 8 • IP   flag post
Forum
Founder
DanSmigrod private msg quote post Address this user
@Dreammachine

Excellent video. All MUG Members - and 4x4 drivers - should watch it.

Dan
Post 9 • IP   flag post
Forum
Founder
DanSmigrod private msg quote post Address this user
@Dreammachine

Examples of (high value) stuff to give away with top-tier pricing:

1. 2D Floor Plans
2. FYI-IN 3d Video
3. Single Property Website
4. "iPad Video"
5. GIFs
6. Sketchup File
7. Object File
8. Animated Explainer Video (customized with agent's contact info/logo)
9. Special Offer Video

For real estate agents to get the listing, the Matterport Spaces 3D Tour and all of the above.

Dan

Photographers: Imagine giving your client this video; customized with their contact info ... [More Info]

Post 10 • IP   flag post
Basic
Member
RandyAggie private msg quote post Address this user
That's a great way to think about the pricing. I'm partnering with HomeJab to do some of their shoots down here and it's in the neighborhood of the suggested breakdown.

Also, with this idea I just signed up 2 salespeople with a 20% split just since reading this an hour ago. And I will be signing up some more. Thanks a bunch for this post! Good stuff.
Post 11 • IP   flag post
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