Stephen Bartlett
speaker
413 appearances
7 recordings
5 series
first heard Apr 2025
last heard 12 Jun
Stephen Bartlett’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in May 2026 with 2.
Appearances
And they say, you know, I put out, you know, one or two pieces a week. And I think that's amazing. For context, for anyone who's listening to this, we put out 450 pieces a week. And so the brand that we have is way larger because we do so much more than you do. And people can't fathom the idea that someone works two times, five times, 10 times, a thousand times more output than they are doing.
But it is usually the reality of why they're getting a thousand times more than you're getting. And fundamentally, this is the concept of leverage, which is that you get more for what you put in. In the beginning, you're the one doing the flyers.
Then you get leverage because then you make enough from those flyers that you can look at your time study and be like, okay, I can pay two guys to do these flyers and I can get eight hours back. That would be amazing. But now you've got two guys doing flyers, which is still double of what you were doing. Now you have double the revenue that's coming in. You're like, okay, should I hire more guys?
That's more. Or should I do something better? Should I change my flyer up? Should I change the offer on the flyer? That would be better. Or should I start Facebook ads? Well... The new, which would be Facebook ads, is the 10% thing. Now, when you're looking at allocation of resources, let's say we're now fast forwarding a little bit into a company that has profit that they can do stuff with.
Part of the reinvestment is insurance for the future. And so every business has three strategic buckets that it has to allocate its resources into. Number one is how do we get more customers? Like if we get more customers, the company grows, period. Number two, how do we increase lifetime gross profit per customer?
So if we got the same amount of customers, but we made all the customers worth more, we would also grow. Bucket three is how do we decrease risk? AKA, how do we increase the likelihood that the first two things don't stop happening? And so those are the three buckets. And so when you look at that 70-20-10, Hey guys, real quick, this podcast only grows from word of mouth, quite literally.
There's no other way to grow a podcast than word of mouth. If there's some element of this that you think somebody else should hear or would be relevant to them, it would mean the world to me if you shared this via text, via Instagram, via DM, via whatever way you like to share stuff with the people you love. Thank you.
The 70, for the most part, is usually going to be directed towards get more customers, make them worth more. And the better also ladders up to that. The risk factor is usually going to be the new thing that you're going to do to ensure your future is going to be there by the time you get there. And so if we noticed, for example, that like...
YouTube becomes like legacy television and viewership starts dropping and it becomes this new VR, whatever, right? At some point, we're going to have to look and be like, we need to take 10%, 20% of our profit every year and start building out this new team. We're going to continue to do what we're currently doing. And here's the mistake that you need to avoid.
Don't take the stars that are making the one thing work and then push them on the other thing. You have to find the people who can build this, otherwise you're going to sacrifice the core. Because all of a sudden it's like, oh God, well now we're totally screwed because now we're not getting customers from our existing thing and we haven't figured out the new thing yet, right?
And so this is fundamentally where I see the CEO role is like, you want to eventually become the flex player, which is that you can parachute in to a specific division or department that's solving a complex issue. And then the benefit that you have as CEO or founder is that you have decision-making power and you have the ability to allocate resources and immediately say yes to things.
And that's why, and to be fair, it's unfair to your team to say, why can't they do things as fast as me? Well, because you can write the checks and because you can say, yes, you don't need to check with the committee. You don't need to run it up the flagpole. It's just you saying, do this, do that. Don't worry about that. I'm telling you, you can stay late for this meeting. This is more important.
And so strategy is just a fancy word that people say when they mean prioritization. That's all it means. We have unlimited opportunities that we can allocate things towards, but we have limited resources. And so how do we prioritize those unlimited opportunities against those limited resources? That is fundamentally what strategy is. And that's another way of just saying we prioritize.
Yeah.
So there are two types of questions that you shouldn't ask. Questions that can be solved with a spreadsheet and questions that can be solved with testing. And so fundamentally, the outside advice that you get on something that can be solved with math, just solve with math. And I would say like 30% of the questions that I get are like, should I sell this one or this one?
And I'm like, okay, well, what's lifetime value of this product and what's lifetime value of that product? Okay, what's cost to acquire for this customer? What's cost to acquire for that customer? Okay, this is a math problem. You have a way higher LTV to CAC ratio here, allocate resources here. But that's a math problem. Anyone can just do that math. for the testing one, I love this.
So like the leads book, I didn't know what to name it. So it's about advertising. So I ran story tests for like a week or two, just saying a hundred million dollar promotions, a hundred million dollar advertising, and then advertising one. It was like a hundred million dollar advertising, a hundred million dollar marketing. Okay, and then advertising wins.
I'm like, okay, $100 million, advertising, $100 million leads. Leads wins. $100 million leads versus two other things, leads keeps winning. Okay, that's the title. And then I did the same thing for the cover. I did the same thing for the sub-headline.
And so I tested every component of it to get the thing that people seem to want, which is like, the book is advertising, but ironically, people want leads. So it's kind of like, do I want to have a book on drills or do I want to have a book on holes, right? People want the hole in the wall, not the drill. That's just the vehicle. And so the book is just the vehicle to getting leads.
But as a quick hack for anybody who has a brick and mortar business, this is just a quick hack for anybody. If you're like, what market should I expand into? Here's five markets we're looking at. Take $1,000. Run your best promotion that you win in your current market in all five of those markets. See what your lead cost is in all five markets.
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