Here’s a clip from our recent podcast with Rod Cruce from Trifecta Growth Institute where he talks about the pros and cons of being on a TPA program.

Rod Cruce has owned multiple different businesses and has spent many years running and building a top performing Restoration company where they properly learned how to utilize TPA by understanding the fundamentals and developing an Algorithm of success.

https://candrmagazine.com/the-tpa-success-algorithm/

“Yeah, I think, you know, you got to understand what is this better than anyone. It’s a sales funnel. Yeah. Just like you said is it is digital marketing, digital ads. Is that a sales funnel? It is you’re creating a sales funnel to be able to dump leads into your sales funnel or company.

If you’re out and you have some business development opposed to, you know, just doing those portions where you’re trying to court people, or get them to come in and allow you to do their work, that’s a sales funnel with the defense industry. And you’re trying to, you’re responding to solicitations and you’re bidding on work there, that’s a sales funnel.

If you’re working with any kind of commercial lead generation out there, well, they put these things, that’s a sales funnel. So as a business you have to figure out thinking you, can you stretch yourself and how many sales funnels can you afford? Because it’s not cheap, right? It’s not unlimited amount of sales funnels.

So you have to kind of, figure out where are you going to operate? And I think that’s a big misconception too, is, you know, a lot of people don’t have a business plan. And you know, when you start a business, everybody talks about a business plan. Well, great and nobody wants to do it because they don’t, either they don’t understand it or they’ve never done it before and so they just kind of wing it. And we see that a lot.

Well, a great business plan gets you started, but then every year you have to redo your business plan. You have to revamp it. And that’s what I see a lot of people do not do. They don’t look at every year, you know, we just got finished reflecting on 2023 And we looked at what worked, what didn’t work, how we were successful in some aspects, why we were not successful in others.

And then we started to create our strategy for the next year. And that falls in with a bigger business plan that we create, which is a 10 year. And so if you don’t have something like that to where you’re looking at it every year or seeing what’s working for you and seeing what’s, seeing what is successful, then you become the status quo and you just let things kind of, happen as they happen.

Yeah, and I feel like a lot of people that get on TPAs, their lack of sales and marketing arm. I don’t see the value of putting in money into a sales revenue, you know, sales generation And that’s expensive, I mean, I think, you know, we talk to people and when we, most people are doing that are putting in about 10 to 12 percent of their revenue into a sales back in the sales lead generation.

And that’s a lot. And if you look at most of your TPAs, they’re going to be less than 6 and it’s almost a guaranteed sale. So some people say, why should I go spend 12 percent when I can get a guarantee, almost a guaranteed lead and guaranteed sell for less than 6. But yeah, I do have a lot of parameters put on me that I gotta abide by.

Now, you gotta make the business decision. Are you willing to do that? Or do you want to steer away from that? Or can you have a mix of that?”

Watch the full Podcast Replay here: https://ironcladrestorationmarketing.com/rod-cruce-from-trifecta-growth-institute-podcast-replay-inside/

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Here’s a clip from our recent podcast with Rod Cruce from Trifecta Growth Institute where he talks about understanding what a TPA (Third-Party Administrator) really

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