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Daniel Priestley

๐Ÿ‘ค Speaker
3371 total appearances

Appearances Over Time

Podcast Appearances

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Um, you know, like this is a very low bar to clear. So you just need, the reason I want 150 is because I want to next step, be able to talk to 30 and normally out of 150, you can get on a phone call or you can have a conversation or a text conversation with 30. Um, yeah.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And, you know, so there's this concept called statistical significance, which is basically when they do things like drug trials or when they do testing of products, you need to test enough people to get real feedback. So there's 30 people is a statistically significant number and 150 is a statistically significant number. So I'm just constantly, if it's an easy low bar, it's got to be 150.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And, you know, so there's this concept called statistical significance, which is basically when they do things like drug trials or when they do testing of products, you need to test enough people to get real feedback. So there's 30 people is a statistically significant number and 150 is a statistically significant number. So I'm just constantly, if it's an easy low bar, it's got to be 150.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And, you know, so there's this concept called statistical significance, which is basically when they do things like drug trials or when they do testing of products, you need to test enough people to get real feedback. So there's 30 people is a statistically significant number and 150 is a statistically significant number. So I'm just constantly, if it's an easy low bar, it's got to be 150.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

If it involves talking to people, it's got to be 30. So these are my first steps.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

If it involves talking to people, it's got to be 30. So these are my first steps.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

If it involves talking to people, it's got to be 30. So these are my first steps.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. Well, anything high volume, low value is the biggest dead end for most people. Look, you're different because you've got millions of followers. So you can do a drink. Um, but anyone who doesn't have millions of followers, this is a business that relies upon scale thousands and thousands and thousands of sales every day.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. Well, anything high volume, low value is the biggest dead end for most people. Look, you're different because you've got millions of followers. So you can do a drink. Um, but anyone who doesn't have millions of followers, this is a business that relies upon scale thousands and thousands and thousands of sales every day.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. Well, anything high volume, low value is the biggest dead end for most people. Look, you're different because you've got millions of followers. So you can do a drink. Um, but anyone who doesn't have millions of followers, this is a business that relies upon scale thousands and thousands and thousands of sales every day.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Um, you know, lots and lots and lots of people, this has to get into stores and those stores have to like a lot has to happen, but it's one of these seductive businesses because someone who looks at this and goes, oh, like it would be really cool to have a drinks company. Anything that involves food or drink, nightmare.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Um, you know, lots and lots and lots of people, this has to get into stores and those stores have to like a lot has to happen, but it's one of these seductive businesses because someone who looks at this and goes, oh, like it would be really cool to have a drinks company. Anything that involves food or drink, nightmare.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Um, you know, lots and lots and lots of people, this has to get into stores and those stores have to like a lot has to happen, but it's one of these seductive businesses because someone who looks at this and goes, oh, like it would be really cool to have a drinks company. Anything that involves food or drink, nightmare.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

You know, people who want to do cupcakes, coffee, restaurants, burger vans, all terrible businesses.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

You know, people who want to do cupcakes, coffee, restaurants, burger vans, all terrible businesses.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

You know, people who want to do cupcakes, coffee, restaurants, burger vans, all terrible businesses.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. And it doesn't have scalability. So if you want to sell more burgers, you need to open more burger restaurants. So whereas software, if I want to sell more software, I just give more people usernames and passwords. I can build software once and then I can just onboard new customers at scale.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. And it doesn't have scalability. So if you want to sell more burgers, you need to open more burger restaurants. So whereas software, if I want to sell more software, I just give more people usernames and passwords. I can build software once and then I can just onboard new customers at scale.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. And it doesn't have scalability. So if you want to sell more burgers, you need to open more burger restaurants. So whereas software, if I want to sell more software, I just give more people usernames and passwords. I can build software once and then I can just onboard new customers at scale.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So anyway, high volume, low value businesses are notoriously hard because most people just don't have access to volume. If you're an influencer and you've got a million followers, by all means, go for it. Yeah. The next one that is notoriously good is B2B services. So business-to-business services. So for example, if you say, hey, I can help companies introduce their first chatbot.