Signing $200,000 of AI Agency Deals in 7 Days

Quick Overview

Morningside AI signed over $200,000 in new AI agency deals within a single week by focusing on development projects with existing clients and introducing new sales strategies, including the hiring of a BDR and transitioning to HubSpot CRM.

Key Points: Morningside AI secured over $200,000 in new deals within seven days, primarily through development projects with an NRL team and a major real estate company. The NRL team deal started at $10,000 USD for an exploration phase and is projected to grow to $80-90,000 USD for phase one, focusing on AI to help win games. The real estate company deal, involving contract generation via voice agents, began with a $5,000 USD exploration phase and has since expanded, with a new statement of work at $300,000 USD. The agency is shifting its strategy to focus on fewer, larger clients, aiming for minimum development contracts of $100,000 USD and consulting engagements that prove ROI. Morningside AI has implemented new operational changes, including hiring a Business Development Representative (BDR) and adopting HubSpot CRM to manage leads and sales processes. The team is also testing 'Proof of Concept' (PC) engagements with minimums of $20,000 USD for 2-4 week projects to build relationships and demonstrate value before larger commitments. The founders emphasize that understanding the technology and connecting business needs with AI solutions, rather than specific tools, is key to closing deals.

Context: The video follows the co-founders of Morningside AI, Liam and Josh, as they discuss their recent business successes and operational changes. Having recently returned to New Zealand and moved out of their physical office, they are currently operating remotely. The discussion centers on their strategy for securing significant AI development and consulting deals, highlighting the challenges and successes of working with large clients.

Detailed Analysis

Morningside AI achieved over $200,000 in new deals within a week, focusing on development projects with an NRL team and a large US real estate company. The NRL deal, initiated through the head coach, involved an initial $10,000 USD exploration phase for AI to improve game strategy, with phase one projected at $80-90,000 USD. The real estate client, the second largest by sales volume in the US, engaged Morningside AI for contract generation using voice agents, starting with a $5,000 USD exploration and evolving into a $300,000 USD statement of work. The agency is refining its strategy to target fewer, larger clients, setting a minimum of $100,000 USD for development projects and prioritizing those with clear ROI potential within 3-4 months. They are also implementing 'Proof of Concept' (PC) engagements, starting at $20,000 USD for 2-4 weeks, to demonstrate value and build trust before larger commitments. Operationally, Morningside AI has hired a BDR to handle lead vetting and initial calls, transitioning to HubSpot CRM for better lead management, which frees up the founders to focus on higher-level strategy and closing deals. They stress the importance of understanding the client's business problems and the capabilities of AI technology, rather than focusing on specific development tools, to effectively close deals and drive business value.