"Do I Really Need a Physical Location to Grow?"

0:00What's up? >> My name's Will. Um, I sell beauty products to stylists, barbers, etc. We do about 400k in revenue right now. >> Mhm. >> Ideally I'd want to be at 10 million also like he said, but realistically maybe like 1 million within the next year. >> Probably a good first step. >> Yeah. >> Yeah. >> So, um, what's stopping me is I want to say it's got something to do with shiny object syndrome but not per se cuz like >> I'm familiar with her. >> Yeah. Essentially the business splits up into like four three pillars, right? Distribution of products,

0:27>> Okay. >> education, which is where we do workshops with stylists, barbers, etc. >> Okay. >> And then we want to get into services, which is like having our own locations for, you know, hairdressers and things like that, like renting chairs and all of that stuff, right? >> Why? >> Well, it could lead into It's one channel. >> Anybody else? It would've been fun cuz somebody would've raised their hand who has it and I'd be like, "What do you want?" They're like, "I want to go not in salons." So, it would've been fun. Uh, but

0:53>> Uh, so the strategy I want to implement is using the service locations as a way to funnel into the the products and the services, right? So, like if say we have a a stylist that works under our branch, the customers come in, they use our own products and then they can purchase it, you know, on the DTC channel. >> You'd be better served just doing it as a media play. So, you wouldn't have to open up these brick-and-mortar loca- like it's like I want to open up these, you know, $500,000 locations so that I can sell these $50 products.

1:19It's like, man, you know what'd be cool is if we could just like plug into the existing 150,000 salons that exist and then just attract their hair stylists to sell our stuff. >> Right. >> I've I I feel like I've talked to you so many hair people in the last like 3 months. Um, and some of them are murdering it. But the the model that seems to work extremely well is just the education of the new way, whatever way that you have, and then paired with the products that you have.

1:45That doesn't require brick-and-mortar. If you want to have one that's for media so that you can capture stuff, you can have these kind of in-person experiences, things like that, I think that makes sense. But having a strategy of like, "Oh, I I to have a thousand of them." But I would recommend not making that into a business though. >> Okay. >> It's literally rent that's not retail. It's not some anchor location. It's off the beaten path and it's about the cameras and you getting people there, not about like, "Oh, we're also going to run a full salon." No, don't worry about it. Like the main Keep the main thing the main thing.

2:14>> Right. >> Does that make sense? >> Yeah, that makes sense. >> Yeah. You can also just sell into other people's distribution. That's what everyone else with products does. >> Cool. Cool. >> Does that make sense? >> Yeah. >> Don't start another business. >> So I I mean yeah, I guess it it would be technically a different business even though in my, you know, >> You mean the media thing? >> The No, not the media thing. The the salon thing. Like the actual services. >> Yeah, don't do that. >> Don't do that. You're selling I mean it wouldn't be 500k. Like someone's offering us to buy to sell the >> Stop. >> [clears throat]

2:39>> No. No. Do not sell services. >> Okay. >> Teach them what you can sell to sell your product, which they will then sell. >> Got it. >> [snorts] >> Okay. Cool. >> also sell newspapers, but it doesn't mean you should, right? >> True. True. >> Right? But they're going to come in and they're like, "What if they want to know the news?" Like >> [laughter] >> Like just do the Like basically you want every detail to be perfect and the balance of that is that you just need to make sure that there's very few details that you need to actually execute on.

3:07>> That makes sense. >> That's from Jack Dorsey. Founder of Twitter. If you're 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 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 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 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.