Consuming Content Is Killing Your Focus

0:00Uh, so I I'm a relatively like we're a relatively young company and so one of the things that I struggle with more on like that third category with the focus or the women in the right >> how common these are. Just saying. Yeah, go for it. >> So like for me is basically like how do you balance the consuming of useful content for your business? Like there's always like a new tool, a new strategy, new content from the hermelios is right?

0:25And also and also like we're leaving this workshop with like hey this is what you should focus on. So is it a matter of just like hey switch off YouTube for the next 12 months and just do this or miss out on >> Everything except my ears. >> Exactly, right. And so or potentially like miss out on like a particular strategy or tool that can maximize what you're focusing on. So how do you balance both of those in your business? >> Yeah, I'm going to make this really short cuz I could do a whole talk on this. But um So in terms of prioritizing what you're going to do three steps. What, how, who? So what are you going to do? It either's going to get you more customers or make them worth more. If you can't figure out what goal it's going to accomplish then don't do it cuz you have to be able to say cuz the only way you're going to grow a business is get more customers, make them worth more. That's it. And so if it doesn't do either of those things or not clearly then find something else that does. Once you know that it's okay, cool we're going to get more customers.

1:18That's going to be our our deal. Well how are we going to do that? You can do more, you can do better or you can do new. Right? And typically when you're small you do this first. When you're big you do this first. You do more first and then you do better when you're bigger. And then once you can't do any more any better then you try something new. So right now and then you go into who's going to own the the initiative. Now for you um I ask the same question which is why can't you do 10 times more of what you're currently doing that's working?

1:50What breaks? >> Um there's a knowledge barrier or like uh I haven't learned how to do it yet. >> Well, yeah, but what would actually break? So, if you did like what's how do you get customers right now? >> Uh mostly organic. Just referral and channel partnerships. >> Okay. What's the percentage split between those? >> Uh 70% organic, 30% channel. >> Okay, got it. Is the channel partner like a reliable process or they just come in bound?

2:16>> Uh they What do you mean? >> Is it like do you reach out to people and you convert a certain percentage of those people into channel partners? You know channel partners are worth X. >> Yeah. Yeah, that's what we're doing. >> Okay, cool. So, what stops you from doing 10 times more reach outs for channel partners? >> Just um time and like I would just like what's the right strategy to reach out to them? >> What what you're doing is already working. You have 30% of your business comes from it. So, what does changing nothing what stops you from 10Xing the amount that you're doing there?

2:44>> Yeah, it's nothing. Just >> No, I'll be like it's a it's a real question. Is it you can't do 10, right? You'd need somebody else. Okay, so recruiting somebody who can take over a portion or add to your output, rather your input, would be the constraint of the business. Does that make sense? >> Yeah. >> That's it. Cuz if you hired five more people to do what you're doing, would the business make more money? >> Yes.

3:10>> Is there anything else you could do that would make the business more money than doing that? >> Right now, I mean >> All right. >> Thank you. >> If you are business owner and you are not growing as fast as you'd like, I'd like to give you a free gift. So, my team and I put together the $100 million scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly, where they got stuck and how they got past it. And so we broke it in these 10 stages and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources and finance. And so, no matter what you're struggling with, someone else has already struggled with it and solved it. And so I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information, and if you want us to actually help you deconstruct the business and you're trying to scale, we'd love to help you out. On the thank you page, you can book a call with my team and we will look at the business, see if we can help, and if we can, we'll invite you out to Vegas and we'll do this in person live.