The key to scale.

0:00Here's how one magician was able to do a hundred times more revenue doing fewer tricks than his competitor. One magician every night would perform to the same crowd. Every week he had to come up with an entirely new set, come up with new tricks. The second magician had one set of ten tricks and he did it every single night. And all he did was get a new audience every night because for them it was the first time they had seen it. The problem is that most entrepreneurs treat their business like the first magician. They have one audience and they keep coming up with new things over and over and over again to try and sell them rather than thinking, "How do I make one incredibly amazing set that's so good that's been practiced a thousand times that I then can spend the rest of my time promoting people and new blood into the show and saying, "How can I do the same thing in more ways? How can I sell recordings of it? How can I sell virtual versions of it? How can I sell the product-ized version?" Not doing different, doing more of the same. And that is the key to scale. The second magician, not the first.