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0:00Why Combinator, if you're familiar with them, they're like pretty big investors in Silicon Valley. And now one of their stipulations is that they want founders to have lived with the problem for 5 to 10 years. So whatever the problem that is you're trying to solve, they're like, "Man, I just wish this didn't suck this much." And if you've really lived with it, like I've had breathing problems for my whole life. And so like I've always like thought about like if I were to start some sort of business around that, that would be one that I've tried every solution that's out there and I can tell you the pros and cons. And I would want to become, which is point two for you, is like I'd want to become a customer of that business. From a from a tactical perspective, so point two, um this is this is service specific.

0:36What I'd recommend doing is giving way more away uh than would be reasonable to charge for. So you start with the kitchen sink. And you basically keep adding things to how much you're willing to do for someone until eventually you're like in their house cooking them dinner. And you're like, "Okay, would you do this?" They're like, "Yeah, fine." And they're like, "Okay, now I can I can start trimming things from this and thinking, okay, there's a hundred things that I could that I am I committed to doing for these first five people."

1:08It turns out 80% of them they don't really care about. And I can actually charge the same price and eliminate 80%. So it's like get the yes and then work backwards. Because sometimes it's a lot cuz with physical products you basically have to keep iterating on the product until you get the yes. With services you can just keep adding and then when you get the yes, work backwards. And so that's just a tactical thing. And so a vivid story about that is when I was starting in the gym business, um I kept trying to sell memberships and it just like really didn't work well for me. Now that probably was I sucked at sales and I I didn't really think gym memberships were that valuable myself. I was a cheapskate. Um so I was like, I know, 50 bucks a month. Um you and me, sister. Uh and so so but then I was like, well, what do they really want? I was like, well, they really want to lose weight. They don't really care about the gym, they just want to lose weight. And so I was like, well, what would it actually take for someone to lose weight? And I was like, well, I was like, what if I texted you every morning just to make sure that like you were you were on point. What if you you could send me all your meals every day and I would I would like make sure that they were matching. And what if I like when you go out to eat, I'll give you a list on how you can do that at restaurants. And like what if I can I drink? I'm like, you can if you do it on this this way. And what if And and and when you work out, do you want me there with you? Yeah, that'd be awesome. Okay, I'll do that. And then so I started adding all these things and supplements that you probably want to take along the way. And I had this big amalgamation of stuff that everyone needs. Because whenever you're solving a problem, there's always one another problem that's going to happen if you actually solve it. But there's also like a hundred micro problems. So if someone joins a gym, it's like well, they're like, "Shoot, I don't have gym clothes.

2:36I don't know how to buy the right food. I don't know how to cook the food. I don't know how to store the food. I don't know how to make the food taste good. I don't know how to work out. I don't know like there's all these other problems." And so I was thinking forward of like, "How could I solve all of them?" And that becomes this huge thing. And then I started offering that and people are like, "Yeah, I'll do that." And I was like, "Great." But I was able to charge way more than I did before because I was actually solving the problem rather than selling a commoditized solution that they could price compare me with somebody on the street. And so that was point two is give away the kitchen sink and then trim down to make it profitable. Cuz in the beginning you're not worried about that yet. You want to get people to actually want to buy your [ __ ] And then you can worry about the profit.

3:17And then um the third point that you made uh was about legitimacy. So I see this on the content side too. And I'm sure many of you guys see this, which is you know, the girl who's an emotional wreck giving emotional advice. Or the couple that you're like, "Ew." And they're like, "Come to our love workshop." And you're like,

3:42>> [laughter] >> "I don't know if I want to." And so um I'm just a big advocate of proof over everything because your message is consumed within a context. So, like Elon Musk can tweet like, "Shits are awesome. I'm on the toilet." And it'll get a million likes.

4:06Because but if you tweet that, you probably won't. Right? Some people will be like, "Are you okay? Did someone steal your phone?" Right? Um but it's it's consumed within that context. And so, I would say that the context on a on a on a scale from 1 to 100 of the message, 90% of the message is your background. 10% is the actual thing that you're saying. And so, I'm not I'm I'm not an idiot when it comes to the fact that like I had to go build a $100 million net worth, have a $50 million exit, all these other things before people listen to my podcast. I made the podcast for 5 years. No one gave a [ __ ] But then when I had objective proof, then people went back and listened to 5 years of podcasts on road trips straight through like, "This is gold." And then they told people. But they couldn't consume the message because there was no context around it. And so, I would say solve for context and then the message kind of takes care of itself because also when you do have the proof, you also will have the pudding.

5:01Because you got there. And so, you do know how to get there. Whereas if you were on the journey and I think there's an element to like documenting something like, "Hey, we're working on our relationship." is very different than like, "Come listen to me for my relationship." It's I ate this for breakfast. I thought it tasted good versus this is what you should have for breakfast. Nuance, but it's different. And so, um if you're on the come up, I would stick to how I rather than how to.

5:25And it will protect your reputation when you're making this content because no one can no one can shake a finger at you. You're like, "I'm just saying what worked for me." You can do whatever you want. This is what worked for me. And I think that will help you get over some of the creation block for those of you who do choose to make content to advertise your stuff. Um and it certainly has helped has worked for me. 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. So, my team and I put together the $100 million 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 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 in 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.