Fokus schlägt Zeitmanagement

0:00What's a belief or maybe a behavior that you had, let's say 10 or 15 years ago that you now see as misguided? >> Uh not committing. >> Not committing. Interesting. Tell me more about Say more about that. >> So, I mean, I I define commitment as the elimination of alternatives, which was I had the misconception that I will work on multiple things and see which one works. When the reality, any of them would have worked if I had worked on it.

0:25And so, I would just never get past the point of critical mass. And so, the easiest analogy I have for this is imagine you uh want to start a party, right? It's very hard to start a good party. Like, you have to invite a lot of people, you have to prepare, you have to do all the stuff. Um but if you are successful enough to get enough people to the party, the party can eventually take off on its own and kind of become its own thing. Now, to the same degree, imagine you try to start four parties on the same night at the same time. It's almost impossible. Because you only have the only have the same resource.

0:52You have the same number of people you know, you have the same amount of money. It's very, very hard to do that. And so, this is what I see the vast majority of, you know, smaller entrepreneurs uh doing is that they're trying to start four parties and say, "Well, whatever party takes off is the one that I'm going to I'm going to invest more in." But none of them will take off. And that's why in the beginning it feels very manual, very like pushy. Like, "I promise the party's going to be great. It's going to be awesome. But who else is coming?" No, you. No one, right? But if you just put all of You're like, if you're like, "I'll be there. I'm not doing anything else. This is all I'm going to be doing is trying to make sure this party's amazing." The likelihood that party one is good and then two gets good enough that you don't have to push to keep growing it is good. It's just kind of a microcosm for a business just on a much, you know, uh shrunken time scale. But I think for that reason, that's that is probably the number one reason that people don't get what they want is because they spread themselves too thin.

1:34You have such limited resources in the beginning. It's like I think this is a piece of people misunderstand. Like, you have functionally no money. If you're an individual, you have basically no money when it comes to a corporate scale, right? You have almost no money. And you have almost no time. Uh again, compared to 100 people. Right. You have no no money, no time. And so, you have such such such limited resources that the actual skill that's missing is strategy. And so the strategy is prioritization of resources. So said simply, like what do we do and more importantly what do we not do with the few things that we can do out of the few things that we can do.

2:05And so just being able to just say, you know what? All four of these parties could be good. It could be a pirate's theme, it could be a it could be a Greek theme, it could be a you know, whatever theme. But I'm just going to try and make this pirate theme one good. That's all I'm going to do. And the thing is is that we then think, oh, well, this succeeded because it was a pirate theme. No, it just succeeded because that was the one that you worked on. So as long as fundamentally like you let people know about your stuff, you have a conversion mechanism, and you have and the thing that you sell cost significantly less than the thing you sell at the price you sell it for, you'll probably be okay.

2:32But people just spend forever trying to figure out which party theme is going to be the best theme. And you just don't need to do that because as soon as you pick, you eliminate the alternatives, you commit, and then you're good to go. >> How did you figure out that that was the problem that was keeping you from success? Or did you something just eventually take off through sheer brute force and you realize that you wasted your time on the other initiatives? >> No, nothing took off. >> Yeah. >> I um I and people may be surprised by this, but I was probably making a few million dollars a year not income, revenue, uh between like nine different businesses.

3:02>> Yeah, oof. That's stresses me out just thinking about it. >> And I was 20 26 at the time. Uh and I like to tell people I, you know, nine businesses, but like that's because I thought that's what successful entrepreneurs did. When the reality is like, no, you make one business extremely successful and then you just make investments and you don't spend your time. You can only be CEO of one thing. And so I was CEO of nine businesses and almost I almost died. Um got DUI, hit on collision, whole thing. Like I like yeah, and then I had somebody uh thankfully say, hey, uh you were stretched too thin. This stress will kill you quite literally and you need to make decisions. The difficulty was for me, I was the rainmaker in all the businesses. And so I basically was just killing myself to generate income for all of them. Um and almost nothing was left over every month because I had to pay people to do everything else because that was the only thing that I was doing. And so uh Leila obviously came into my life, not obviously, but Leila came into in life. Um and she said, hey, you know, genius, wouldn't it be cool if there was this one thing that you do that seems to work better than the others, but we haven't given it a chance because you're only giving 2 hours a week to it."

4:01>> Yeah. >> Uh, what if you spent all your time on that? And so, um, I thought that logic made sense. And I clearly what I was doing was not working. And so, I, um, I had to have all the hard conversations and I lined them up over 48 hours. I literally called every partner that I had with all the other businesses and said, "I'm out and you can have everything." And, you know, when I when I made the call, you know, the people that were in my life were like, "You worked for years to build these businesses and like, what are you thinking? Like, why don't you why don't you sell them for more money?" Um, and I

4:27>> And you walked out tomorrow, right? >> Yeah, yeah, exactly. So, cuz I fire sold fire sold it all. What was really interesting is that over the next 6 months I made more money than I would have made from the sale of all those businesses uh, put together by just focusing on one thing, which is why I've been such an advocate of it. And I repeat that theme because the thing is is that focus never gets easier. It's kind of like an addiction. Like, you have to beat it every day. Real quick, if you are a business owner and you are not growing as fast as you'd like, I'd like to give you a free gift.

4:51So, my team and I put together the $100 scaling roadmap, 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 into 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 just 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.