Sales

Employing

LLC Education

Steps of Building a Service-Based Business:

  1. Consider initial investment (calculate risk)

  2. Don't start with small margins (Sell higher tickets - 1-2k)

  3. Find a Wacky Niche with high revenue.

    <aside> 🔎

    Look for things that are

  4. Form an NSVP - niche-specific value proposition.

(helping (niche), achieve (result), without (pain))

  1. consider contractor arbitrage (hiring someone from a foreign country to do service delivery)

  2. Stretch out your timeline. (Wealth builds slowly)

    Learn from old money, not new money.

<aside> 🕰️

Look at long-term products.

You need a “vehicle” to make money.

Have free cash flow not tied up in business.

High perceived value/leverage for whatever you do

</aside>

Business progression

  1. Make thing to sell → Advertising → Conversion → Leadership/Operation
  2. From 0 → 1 Million its skill, from 1 Million → 100 Million its character, and from 100 Million → 1 billion its time.
  3. How to know when to entrepreneur full-time when working income is outpaced by side hustle outpaces income for 6 months.
  4. Don’t make something; own it. (What vehicle can get me to a billion?)

Scaling: Fancy fails, simple scales

Think of what to 5x: Sales, ad spend, content?

  1. Cut churn
  2. Reconfigure and mix product speed.
  3. Find who does things: look for personal and core issues
  4. If you double your customers, you double your business: if cost of first customer gets you two there is no overhead

Systems

A system will grow until constraint, when the condition is fixed, the system will produce again.

  1. As a business owner, you need to know how to:
  2. Dollars at a discount ≠ don’t do more for less.
  3. Quality over quanity
  4. You need data to make informed decisions.
  5. Cash is still king
  6. Some skills give you meta-skills in specific niches.
  7. Volume negates luck

<aside> ✳️

To de-risk