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These are the user uploaded subtitles that are being translated: 1 00:00:02,480 --> 00:00:09,500 So you run your ad in the test period for three days and it's either created a profit or it's broken 2 00:00:09,590 --> 00:00:12,830 even so you have a winning test. 3 00:00:12,900 --> 00:00:15,060 And we talked about this in the previous lecture. 4 00:00:15,080 --> 00:00:16,400 You dropped all the other ones. 5 00:00:16,490 --> 00:00:17,630 Now what are you going to do. 6 00:00:17,630 --> 00:00:19,100 How are you going to scale this thing up. 7 00:00:19,100 --> 00:00:21,560 To start making some serious cash. 8 00:00:22,200 --> 00:00:30,760 Well rookie mistake number one do not be tempted to ramp it up by 100 x 100 times for example. 9 00:00:30,770 --> 00:00:32,560 So this is a classic mistake. 10 00:00:32,580 --> 00:00:34,790 You're spending $3 a day and you think. 11 00:00:34,790 --> 00:00:35,270 Right. 12 00:00:35,270 --> 00:00:36,130 I found it. 13 00:00:36,170 --> 00:00:43,880 I will now ramp up to $300 a day because if you do that and I can understand the temptation because 14 00:00:43,880 --> 00:00:49,730 suddenly going to much and enormous The not going reach a massive audience compared to before and presumably 15 00:00:49,760 --> 00:00:54,560 you know starts like 100 times more product and therefore 100 times more profit if you do that. 16 00:00:54,560 --> 00:00:58,980 What happens is you confuse believe it or not the Facebook algorithm. 17 00:00:59,000 --> 00:01:03,080 Ok just need to accept the Facebook and a little bit sensitive piece. 18 00:01:03,420 --> 00:01:08,480 And you can't just ramp up by 100 X in one go. 19 00:01:08,600 --> 00:01:14,440 So what it do do is you increase your budget by one and a half times. 20 00:01:14,530 --> 00:01:15,110 OK. 21 00:01:15,230 --> 00:01:23,450 So if you're spending $3 a day for example and you found the winning ad increase it to four and a half 22 00:01:23,720 --> 00:01:25,540 dollars a day. 23 00:01:25,550 --> 00:01:26,200 All right. 24 00:01:26,420 --> 00:01:33,950 So you go from $3 to for a half dollars and then at three and a half dollars keep that for another three 25 00:01:33,950 --> 00:01:34,760 days. 26 00:01:34,760 --> 00:01:37,040 So we are making baby steps. 27 00:01:37,130 --> 00:01:42,320 And in fact this makes a huge amount of sense because not only are we not confusing the Facebook algorithm 28 00:01:42,800 --> 00:01:48,980 but in business is duff to suddenly make huge increases in spending when you're still not 100 percent 29 00:01:48,980 --> 00:01:50,000 sure about this product. 30 00:01:50,010 --> 00:01:54,950 Sure the test period went well but what you still want to do is make little baby steps and make sure 31 00:01:54,950 --> 00:01:56,980 that you're on the right path each time. 32 00:01:57,050 --> 00:01:57,400 Yeah. 33 00:01:57,560 --> 00:02:02,190 Each time we go see just go from $3 multiply by one and a half. 34 00:02:02,240 --> 00:02:07,250 So four and a half dollars and keep it for another three days. 35 00:02:07,340 --> 00:02:12,580 Now at the end of that three day period it's the same question you need to ask yourself or you can say 36 00:02:12,580 --> 00:02:17,930 it on your on your manager did you generate a profit or at least breakeven. 37 00:02:18,200 --> 00:02:22,330 Yeah it's a yes or no question it's very very simple to answer. 38 00:02:22,490 --> 00:02:27,080 If I say yes then you increase the budget by another one and a half x. 39 00:02:27,080 --> 00:02:29,360 So we up for a half dollars. 40 00:02:29,540 --> 00:02:34,670 And if I try to do that in my head we're going to end up like six dollars let's say right a little bit 41 00:02:34,670 --> 00:02:35,130 more. 42 00:02:35,210 --> 00:02:42,310 So you know and I'll hold that for another three days and see if I can break Crear profit or breakeven. 43 00:02:42,710 --> 00:02:47,330 And if I do then increase it by another one and a half or three days. 44 00:02:47,330 --> 00:02:49,740 And so I'll go on and on like that. 45 00:02:49,760 --> 00:02:55,340 Now eventually you're going to get to you know spending a hundred or maybe 200 300 400 dollars a day 46 00:02:56,090 --> 00:03:01,700 but all the while you've been doing that you are making sales you're covering your costs very least 47 00:03:01,700 --> 00:03:04,760 if you're breakeven and if you're making a profit then happy days. 48 00:03:04,760 --> 00:03:11,930 So sticking my in the bank this is great stuff but if you don't do that what you want to do is go back 49 00:03:11,930 --> 00:03:14,000 to the previous budget. 50 00:03:14,000 --> 00:03:19,940 So any time in that in that loop of increasing the budget by one and a half X and holding it for three 51 00:03:19,940 --> 00:03:25,430 days if you don't make a profit just drop it down to where you before where you were before. 52 00:03:25,430 --> 00:03:27,200 Keep it for another three days. 53 00:03:27,320 --> 00:03:32,210 You know if it didn't work that time then maybe drop it back down again or if it did bring it back up 54 00:03:32,210 --> 00:03:32,680 again. 55 00:03:32,770 --> 00:03:33,300 Yeah. 56 00:03:33,560 --> 00:03:36,840 So you are making these small changes either way. 57 00:03:37,220 --> 00:03:40,780 And that is how you scale correctly. 58 00:03:40,800 --> 00:03:41,290 OK. 59 00:03:41,320 --> 00:03:43,060 It's it's baby steps. 60 00:03:43,070 --> 00:03:45,260 It's bit by bit it's patience. 61 00:03:45,290 --> 00:03:52,780 It's using your hard earned money correctly and wisely in order to generate profit. 6032