Six Failing Businesses Is a Focus Problem

0:00I'm on failing business number six right now. They haven't all failed per se, but none of yet to generate cash and running out of runway. Do you recommend I get a job or keep pushing harder to get one of these profitable? I will be a business owner one day, but the phase I'm in right now sucks. I feel like I'm on the verge of something great, but my bank account says otherwise. Well, first off, you are a business owner. You're just not a profitable business owner, so so don't feel too bad. Um technically you're a multiple business owner, which I think might actually be your issue. So, you said your you're on failing business number six right now. Um you said uh I'm pushing hard to get one of these profitable. Um I have this feeling that you have more than one that's ongoing right now and that your attention is split. You have such limited resources that you need to allocate all of them towards one thing because you can do so little.

0:51Like compare like I'm just being real like compared to me, you can do not a lot. I have a lot of money, I have a lot of media, I have a lot of employees, and I I say that just to um demonstrate the difference in leverage that exists. And I don't say that to make you feel bad. I do that to clarify how concentrated you need to make your effort in order to get a reasonable enough return to multiply that effort.

1:18Multiply the output. So, big picture, I am guessing that you are overcomplicating the process of getting your business started, which just means that you need to get a stranger to give you money in exchange for doing something for them that they do not know how to do or want to do. Or have time to do. Right? They don't have the time to do it, they don't want to do it, or they don't know how to do it. There's your three buckets. You do any of those three things for somebody in exchange for money, and you get them to give it to you as the trade. That is the easiest business to start, and so if you're struggling there, I'm guessing that you're not doing that, which means that means you're probably not letting people know about your stuff, and you're spending all all time trying to think about your business rather than letting people know about the one you got.

2:00Like, you will iterate the business in time, but the requirement for having the business is having strangers find out about it. And so, you are focusing on the wrong part of the business. You need to be promoting the business as almost all you're doing every day. And so, right now, for those of you who are in the fallacy of I don't know what business to start, the best way to figure out to start is to talk to people. Advertise. Let people know. So, outreach, content, paid ads, going to affiliates and saying, "Hey, you got a bunch of my customers. What can I do for them?" Right? Solve people's problems.

2:28That's it. That's all it is. And then you ask for money to do it. And in the beginning, you can do it for free. And then, if they value it for free, then they will value it for less than free if you get enough of them, and you have testimonials, and then that is what spins the wheel. This is the first five clients chapter in the leads book. So, review that. Okay. And the offers book. You should read that anyways. If you like this video and you're a business owner who wants to break through your current revenue ceiling, I just sold every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling road map that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so, you can click here and you can check it out. Again, absolutely free. And since you're a business owner, I appreciate you and enjoy.