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The most common constraint for business growth isn’t access to capital but allocation of attent

Reviewing a founder running three businesses at once, the advice is to drop the side project and focus on the one already doing real revenue, in this case pushing the salon business toward $4 million a year instead of splitting attention.

Watch on YouTube The most common constraint for business growth isn’t access to capital but allocation of attent

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Key takeaways

  • For me, this would be a pass.
  • Tell me about the business.
  • >> What would Alex do?
  • I would be focused on the business that's the salon business and saying, "Okay, how do we take this to 4 million a year?" I wouldn't think about the ring, just to be very candid.

Chapters

  1. 0:00
    Abschnitt 1 I invented a ring for single people because I've been single my whole life.
  2. 0:34
    Abschnitt 2 >> Girl, how many businesses do you got going on right now?
  3. 1:02
    Abschnitt 3 You have three different businesses going on, you've super limited resources, limited time, limited money.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

3 segments

0:00I invented a ring for single people because I've been single my whole life. >> Well, if this were Shark Tank, here it is. For me, this would be a pass. Hello. >> I can't even believe I'm talking to you right now. >> I can't believe I'm talking to you. Tell me about the business. What's going on? >> I invented a ring for single people because I've been single my whole life, and the dating apps are just insufferable. So, it's just a ring that's green that kind of shows that you're single and seeking. We're out there promoting it. We have a vendor cart. I do what I can, but I also have a salon, a barber shop, and an Airbnb, and I work there 6 days a week.

0:34>> Girl, how many businesses do you got going on right now? >> What would Alex do? >> [laughter] >> So, what are you making on the salon? >> Over 100 grand, probably. >> And that's your net or revenue? >> Um, revenue. >> What's your take home on the on the 100? >> Probably 75, and then I make about 25,000 on the Airbnb. >> I'll tell you this, trying to change the entire social norm around single versus not singles tough. I would be focused on the business that's the salon business and saying, "Okay, how do we take this to 4 million a year?" I wouldn't think about the ring, just to be very candid.

1:02You have three different businesses going on, you've super limited resources, limited time, limited money. If you really do want to make the ring win, the key for you is that you have to have a viral coefficient, right? You have to have something that gets it shareable. Like, people have to want to share it because your dollars aren't going to go that far cuz you don't have that many. That's me being real rather than nice. >> No, that's okay. That's what I want. >> Well, I'm still rooting for you to do the salon because I think you can much more easily just be like, "Okay, I'm going to 5x what I'm doing there." But, that's a another call for another day.