Scott Trench

speaker

696 appearances 1 recordings 1 series first heard Sep 2025 last heard Sep 2025

Scott Trench’s voice in public audio — every appearance, attributed to the second.

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Young and Profiting (YAP) with Hala Taha: Entrepreneurship and Self-Improvement Podcast · Scott Trench: How to Fast-Track Financial Freedom and Early Retirement | Finance | E367 · 8 Sep 2025 podcast

Then you put the survey out and you can say, yes, no, maybe so.

So I think it's almost impossible, for example, for a consultant to come in and tell you these things to use your business.

You have to learn it for yourself over a reasonable period of time.

And that scrappiness period

where you're almost strategy-free in the beginning, I think is absolutely essential to figuring this out and building that base.

And then you can begin to refine your understanding of the market more scientifically through the work of a crystal clear strategy, I think.

Until you gain that market understanding, it's just really hard to even begin to position the research.

I think it's the same thing, right?

It's understanding your customer and customer journey, sizing up the monetization opportunities along that journey, and then building an incredible product by obsessing over that customer journey for a decade or more.

So for example, let's use the business buying space as a fun one, because I can more naturally extend that over, right?

There's a big interest in buying small businesses out there.

And so before anybody buys a small business, they're going to spend...

same as a real estate investor, they better spend several hundred hours learning about how to run and think about operating a business.

Then they need to go and actually browse live businesses.

Then they're going to need to purchase that business and they're going to need a broker or some sort of qualitative quality of earnings, due diligence on that business.

Then they're going to need a lender and then they're going to need support to actually manage that business, like some sort of product business management system, if they're smart, like an entrepreneur operating system or four disciplines of execution or pick your one.

And so those are going to be your major moneymakers along that journey.

There's also plenty of software systems that people can use to run the business.

And you'd say, okay, how do I build a business that maps to that customer journey and solves all of those problems one by one?

And then where do I start?

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