Zu viele Zielgruppen: Fokus-Problem in mehreren Geschäften lösen

0:00Unternehmer/Gast I'm from Norway. I sell three different products to three different clients. And I've been telling myself >> poker. We don't have to get them all. You know what I mean? So, my issue is focus. Uh I am at a revenue at a million >> over expanded focus and avatar. Okay, got it. >> Exactly. Yeah, and probably under priced, but we're going to find out.

0:24Keep going. I have a business that's been making a million the last 10 years. >> Okay. And revenue about 500. A little bit Sorry, 500 that Profit. >> Yeah. Yeah, 50. 50%. Got it. >> I put that revenue into another business, which is Airbnb business. So, now I have four different avatars. Okay. Yeah.

0:48And um what stop is so the issue is that I want to grow my business and I've been at a million for the last 10 years. Mhm. >> I wanted to grow it the last four years. So, that's what's stopping me. I'm need a focus and I don't know which product to focus on because I telling myself that Norway is the smallest market in the world, only 5 million people.

1:12Alex Okay. So, it is a small market. >> Norwegian to your customers? Yes, of course. I I you speak English great. That's what I'm That's why I asked. >> I would >> You could sell to Americans if you wanted to. Yeah, that's what somebody told me and then I'm like, yes, I want to do that, but that would be a fifth one. >> Fifth business. Yeah. So, Why not? >> I want to do that, too. >> [laughter] >> Why not? But then again, I like to take a day off once in a while. [snorts] Not like you.

1:42So, I'm going to introduce this cuz um this already came up. I think [snorts] that entrepreneurs need to think about investing differently than most people do. And I This is called a barbell strategy. I'm going to lift this way so you guys can see it. There we go. So, this is called a barbell strategy. Which is basically you have your business. Which then produces cash.

2:09Which then So, this is active. And this is passive. And this is, you know, gets your 10% per year, whatever. Whatever you want here. I'll just whatever you want that to be. The problem is that we because we know how to do business, we know how to sell stuff, we're like, man, I could get such a better return if I did this other thing, which is just starting another business.

2:37And so, the highest returns you're going to get is if you can find ways to actually take money in your existing business and reinvest it. That's the best case scenario. Like, if there's another building that's across the street, so we're buying the building across the street cuz it came up. It didn't really come up. I went to the guy and said, I'll give you a million above and then he said, fine. Uh but I'm buying that building across the street cuz my team's growing, right? And so, like that's a phenomenal return. Now, I just overpaid for real estate, but I'm going to make a hell of a lot more on being able to have more of my team in person um than if I didn't have that. And so, that's going to be a really good return.

3:09But I have to analyze it differently cuz that's going to be in my active income. If after you've reinvested every dollar you possibly can in the thing that you control that you know better than anyone else, which is your business, if you still have extra cash, then you put it into something that doesn't take any of your time at all. Zero. And you have to accept the fact that you're not going to get a better return on that than you are over here. But the key is it has to be passive. And it's not like, well, it's you know, it's sort of the As soon as you start hedging, it's not passive. It's not passive.

3:36>> Yeah, like if you can't forget about it for a year or two, year or two, then it's not passive. So, that being said, you have this business that does a million dollars a year, 50 $500,000 in profit. You want to grow the business. What are the So, you you name So, what do you sell? I have a marketing course for those who hate their jobs and want to start their own business. So, from zero to clients. That's a $3,000 course. Okay.

4:01>> And then I have a mastermind that I call a mastermind, but it's really a group coaching program. Okay. >> right now and um and then I have a VIP that is at 25. Well, those aren't three businesses. Those are products. So, is that what you're saying is the three businesses? Well, that's how it's set up after today. >> not three businesses. That's just three products. Okay, three products. >> avatar and you upsell them with a thing.

4:26That's That's one business. Um that's fine. Okay. So, the issue is that you feel like you're limited. I mean, I don't think that Norway with 5 million residents is limiting to a million dollars a year. So, I don't think that's true. Um could you if if you had twice the leads, would you be able to make twice the money? Yes. Okay, so you're demand constrained. So, you need you need more lead flow. So, what are you doing to get customers?

4:50Right now, we just doing ads. Okay. >> And we do just two launches a year from the for the 3K course. Okay. >> Twice a year. What stops you from doing it four times a year? Um just that launching is Tiring? pitch. Is Is pitch? It's a [ __ ] Oh, it's a [ __ ] >> My English is not that good. Yeah. No, I think you I think you I think you nailed it. I think you nailed the English. I think the English was great.

5:16Um but the thing is is you said I want to grow my business, but you said I was like, okay, let's just do more of that thing that works and you're like, but that's hard. It's not hard. It's just that it's just it's just me. So, it's just me. >> It's hard. Yeah. Right. So, it's hard. It's like, how do I make money easy? It's not that it's hard, actually. I I Well, then why not do it?

5:42I'm going to win this one. So, like >> myself I've been I've been telling myself so there's just 5 million people. So, that the the ads goes up. >> that wasn't the question, though. I said, why don't you do it four times a year? >> Yeah. Just because that when you do ads in Norway, it just the ad costs just explodes from 50 to 100. >> seen that in the United States? Yeah. >> Wild. Mhm. It's not a Norway thing. It's a bad ads thing.

6:07Okay. Mhm. So, Okay. So, if you're hitting a ad uh ceiling, right? So, raise your hand if you've had an ad ceiling. You can't get past a thousand a day, 10,000 a day, whatever it is. Okay, cool. So, this applies to you. So, the ways that you can solve this you have a superior offer, conversion optimization, better ads.

6:43None of them are Norway. Okay. And so, right now, it's So, is anyone familiar with the Old Spice guy on the horse? That ad? Okay. So, cool enough, the creative director who designed that actually came to this um like two months ago. It's kind of fun. Um so, when Old Spice did that, they were like they had like 10 or 20% of the market of men's soap, whatever. Post that campaign, they'd over 70% of the market share, which is one of the most successful advertising campaigns of all time.

7:13And it was one ad. And so, when I see that, that's what I consider the hypothetical extreme of advertising is that if you make an ad so good it converts [ __ ] everyone. And that's what they did. And so, right now, you're limited in terms of your ability to scale your ads based on the quality of the creative you have. Do you make content? Yes. How good's your content? Mediocre. Okay. Thank you for being honest. Um what's really interesting about now I came from the direct response side and then started making content and my content has made me better at direct response. Um if you get really good at content, ads are easy cuz content's so much harder than making ads. Cuz ads you get the reach no matter what cuz you pay for the reach. With organic, you have to earn the reach. So, you learn what actually makes excellent creative. And so, it might be actually a really good exercise for you to get better at your creative so that when you run ads, you can actually know what makes a good ad, which is the same [snorts] as what makes a good creative. The only difference is that at the end you make a call to action.

8:06So, like right now, you guys may have seen them. Some of my highest converting ads for for acquisition.com are just my organic videos that are our top performers and then I put five seconds at the end of it like, hey, by the way, this. Would you run ads to the online course then or the 12,000? Whatever's your current acquisition process. I'm not going to break it. But I still prefer do four times a year as the obvious choice for doubling the business.

8:33Alex It's every 12 weeks. It's once a quarter. It's not that bad. You don't burn out your list, then. Well, you're marketing to cold, right? >> Yeah. Yeah. >> Both. Both. Yeah. I mean, you might just have more cold and less maybe you hit your list twice a year and you still do cold launches four times a year. Mhm. Okay. But that would be like if I were like I had to go and make sure that your business doubled, what would I do? I would do that. Okay. But this is probably why you're hitting the ceiling.

9:02Thank you. You bet. Long term, go international. So, if you've hit a revenue ceiling or your entire business relies on you to grow, then I'd love to invite you out to our headquarters here in Vegas to learn how we scale. And so, my team spends two days with you to identify the thing that's holding your business back. And so, if that sounds interesting, click book a call and if you're a fit, we'd love to potentially see you out here in Vegas.