Josh Bucio
speaker
87 appearances
1 recordings
1 series
first heard Dec 2024
last heard Dec 2024
Josh Bucio’s voice in public audio — every appearance, attributed to the second.
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Appearances
So when I think about your strategy of getting to $30 million, I think what you're saying is correct that the first $3 million is pretty easy to get to with your current strategy from a marketing standpoint, right? Because you have this established bucket of affiliates that you know that you can go and to get the low-hanging fruit up to $3 million per location is probably...
fairly easy now the the cool thing is is like you have all these other avenues to be able to go and market that you're that you're missing out on especially if 85 of your business is to end users which is b2c right directly to the consumer you said 85 right yeah right and so like there is a a huge opportunity you're right now you're in you said what austin and where and san antonio
Austin and San Antonio, just those two cities. Correct. Right. Okay. And those are, you know, what, an hour away from each other? Yeah. Hour and a half. An hour and a half. Yeah. Okay. Got it. So Austin and San Antonio, what's the population of Austin?
Chat GBT that for us, Dale. Let's see what we've got. So population of Austin Metro and population of San Antonio Metropolitan. Be interesting to know. So... You know, when I, so when I hear 1.2 million and, you know, the target is only 3 million per location, I think like, man, there's a lot more opportunity, especially if you can figure out how to market and sell to these people.
And, you know, the downside, I know you talked about downside of like having 10 locations is like training and different things like that. But I'll tell you even more is like just straight up overhead costs, right? When you're talking about locations, you have to have manpower at every single location just for it to exist.
And overhead, the downside of overhead is you pay for it regardless of whether or not you make sales. Right, right. And so every single location adds drastic amounts to your break even, right? Yeah.
Right.
Yeah. I mean, we're not on here to say, hey, gotcha, but like to understand. No, right. Well, why is the market tap? Yeah. So, I mean, two and a half million people, right? Like what you guys are currently doing is essentially a dollar a person right now. And so the question is, is how do you get that up to, you know, three or four bucks a person across Metro?
across the board and, and really just understanding like what it takes to get there. Right. Um, but yeah, like, uh, so you said you're at 270,000 on your, on your, on your break fixed. Yep. Okay.
Yeah, that's such a good point. Yeah. And the reality is, is like, even though a lot of your customers are one and done, right, with the average customer moving every seven years and that and most move within their same metropolitan, right, like that amount of recurring revenue is actual, you know, a real thing for sure.
You know, and the thing I've learned in entrepreneurship is like a lot of times we make decisions based on ego. I don't know if you guys ever find yourself in that camp. Maybe.
So let me just tell you like some of the mistakes that I made early on in entrepreneurship was like I did things to impress other people. You know, like locations. That sounds cool, right? Like more locations. Like a lot of times when we're very egocentric, we'll do things based on more locations than more money. right? Because it sounds bigger, it looks cooler, right?
Like, oh man, here I am, interstate, you know, I'm flying to my location up in wherever, you know, it is. And so a lot of times that type of mentality really taints our decision making. Instead of making decisions that are best for the business, we make decisions that are best for our ego. You guys ever find yourself doing that?
Do you know what the compounded annual growth rate is going to take to get to 30 million?
have you have you calculated that yeah chat gpt on that one well and and what i what i mean by that is like so you guys have grown 25 year over year right and so just last year just last it's been 75 since inception okay all right so it's 75 since inception and then it was 25 this next year you do you have do you know what it's going to take for five years to grow to 30 million No. Forty percent.
So I think it's I think it's less a little bit less than 40 percent. But like Daryl's calculating here real quick. But the the important thing to understand is like just picking a number out of a hat is like. you don't want to, right?
Like one of the things that we teach in creating like a vision and direction for the business is not only have a big number, but have a roadmap of exactly how to get there. You probably heard me talk a lot about this. Yeah, that was good. And so like with that, you have to have details like, okay, what does the annual growth rate have to look like?
Okay, so it's like a 38% growth. Right now, you've experienced a 25%. So what changes do you have to make in your business to be able to scale at 38%, which is close to double what you guys did this year? Right.
But so there's, there's a few things that you have to make sure that scale one is like your pay structure. how you actually pay and then your management and what it's going to take to manage that kind of growth, right? Because to Daryl's point, growth requires more management, right?
Like just because you can do 3 million in one location, when you have 10 locations doing 3 million, that's going to require a whole lot more management than, you know, Right.
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