How Do I Advertise Something I'm Not Allowed to Advertise?

0:00All right, so this year I got into the ketamine business. And um so I purchased it on two partners. Everything's been organic growth up there. They did 1.3 last year. This year they'll do 1.7. The EBITDA was a 700. No marketing at all. So we starting to get into the marketing and then we found you can't, you know, since it's ketamine you can't advertise it. So do you have any suggestions on how to advertise?

0:34>> [snorts] >> Ads? >> Let me take this one. >> What? >> Yeah. >> Advertising ketamine? >> Well, we wouldn't advertise ketamine. You just got to go get distribution distributors. So it's like you're like, "Oh, I can't take the risk. I'll just have somebody else take it." That's what I would do. So it's like you have this big distribution like it basically the same thing as the CPA firm we were talking about earlier. It's like we just need to go find who are the people who are referring this like right now it's all word of mouth. That means that there are the way word of mouth works is there's always nodes. It's not like every customer brings us one customer. It's really one out of 10 customer brings you 10 and the other nine bring you nothing. That's typically how it works. And so it's like who we need to identify who these nodes are that have the highest likelihood of referring us business and then enlisting them to do that on purpose rather than on accident. And so then that becomes the acquisition channel. And so then it's more cuz then you can advertise basically referrals, affiliate the monetary component of it which is compliant to advertise. I just wouldn't say it's ketamine. I would just say like we have a medical benefits thing blah blah blah blah blah and then that would be how I'd bring them in and they can then use their network that's not ads in order to drive traffic in.

1:38>> Okay. >> That's how I would think through it. >> So the second question I have is when I partnered the main thing was ketamine. Now they're wanting to do like five or six other services. That's going to be much harder to scale because when we go to the next location instead of six staff members, now we have 22 staff members. >> sounds terrible. >> So, would you break off and like open different ketamine clinics so you could scale faster as opposed to stay in to the partners?

2:10>> Yeah, I would I would absolutely stay with the main thing of the business personally. That sounds like 101 entrepreneurial newbie 80/20. Got you. I'm just being honest. Like, we have this thing that works really great and it's all word of mouth and we're growing 30% a year and it's super high margin. And so, let's [ __ ] it up. >> Yeah. >> It's like standard playbook. Like, where like page four entrepreneurship. Like, let's break something that works. >> Have you given them the feedback that you don't think that's the best decision?

2:37>> Yes. >> What did they say? >> They just There's Well, and I was at first, too, because there was, you know, what if something happens where they uh you know, FDA comes in and says like, you can't do ketamine infusions. You know, right now it's there's no restrictions on it. So, they wanted to get other stuff going for that, which I agreed with at first, but now it's getting to be so many that the staff is going to be so big that it's going to be hard to scale.

3:04>> Give them the missed opportunities versus problems talk. Is that we have Well, everything you guys are talking about is missed opportunities. What we have in front of us are problems that we need to solve. And so, if you keep solving these problems, you'll keep making more money. Yes, there's a structural risk of what happens if ketamine gets illegal. Question is, how likely is that? It's probably not likely. And whenever they roll something out like that, it's usually a multi-year process. >> Yeah. >> Right? And so, like, you'll have ample heads-up before they do anything like that. And if they did, it probably would be like, you can't do unlimited There like, there's so many things that happen it it's there it's an irrational fear, typically, that something like that would happen overnight. And so, everybody here who was in COVID had to overnight figure out a business and almost all of us did. And so, you won't even have that issue and even if you did, you have the resources to do it.

3:49But, distraction is going to kill the business significantly faster than the FDA will. >> Yeah. Okay. Thank you. If you like this video and you're a business owner who wants to break through your current revenue ceiling, I distilled every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling roadmap that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so you can click here and you can check it out. Again, absolutely free. And since you're a business owner, I appreciate you and enjoy.