Practical Ways To Grow Your Business | Ep 802
episodePreviously titled “Practical Ways To Grow Your Business | Ep 821” — renamed by the publisher on Aug 2, 2026
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How can we set clear business goals?
If we can't clearly state our goal, we certainly won't hit it, right? You're not going to hit it by accident, for sure. So I'm wondering, like, you know, yesterday when we looked at the VAM, like, can the business model itself be a detractor? Like, I'm trying to think of how big can we grow this in the current model before we have to look at SaaS or products or people become, you know, obviously a big issue in this type of business. So how big can this go in this type of model? Yeah, I think it can, I mean, it can't, it's very unlikely it becomes a billion dollar a year sales business. The biggest problem with it, so the two big problems of that business are revenue retention, number one, and number two, depending on the model, if you have like coaches, because coaching doesn't scale.
I mean, you can get to whatever, 20, 30 million a year, but it kind of like, it becomes very difficult typically after that because, yeah, Getting somebody to be as good as you, this is actually what I made my whole podcast on this morning. So if we scale, let's just say a one-on-one business as a most rudimentary version of this, you can then go down to one on four, one on eight, one to infinity, right? So you scale that way, basically more and more fractionalized access to you or your knowledge, whatever. This way we have other people. other people, right? More other people.
What are the challenges in scaling a business model?
Where you still have one-on-one, but it's other people who are doing this. And so here you templatize fractional, like break apart the pieces into constituent parts, and then you train people on the smaller pieces that they can replicate in theory. In practice, I think what ends up happening is that, let's say I have a glass of milk. If I say, hey, we're gonna go to one on four, one on eight, I pour that glass of milk into a shot glass and I say, do you still want it? Now, if the milk's amazing, they're still gonna take the shot glass. The alternative here is where I have that glass of milk and I have an equal size glass of milk, but I pour a little bit of milk in there and then I just pour a lot of water in.
And I said, you want this really diluted glass of milk, but it's the same amount as what you had before. And so I found that I think more businesses do a better shot going this way. thing going this way. Now the third path is what I think is the best version of this. And so if you think about knowledge businesses, there's tons of massive knowledge businesses. So Ernst & Young, McKinsey, Bain, all started by people who put their name on the building, right? Accounting firms, law firms, consulting, all of those fundamentally have the same thing. There was a guy who was really smart and really good at some stuff and was able to get people to give him money. The difference is that these models, are predicated on basically a career path.
So they are supply constrained. And so the problem with most coaching businesses is that like, hey, you have a pulse and in seven days I'm gonna get you to, you know, give you a roster of clients so I can keep selling them. But the problem is that if you can teach somebody in seven days how to teach somebody else, either you didn't teach them fully what you do or what you do is so simple that it's not valuable. More often than not, it's the first thing, which is like I taught you 10% of what I know, but I'm still gonna charge more or less the same price either way, and then that's what creates this churn factory. And so the reason all of those companies have our supply constraint is that finding really intelligent people
And then they have a career path where it will take them 10 years to get to partner or whatever managing director status. And they start as analysts, then become senior analysts, then become VPs, then become principals, and they work up the ladder. But they have huge earning potential. So somebody who is intelligent and hardworking and could actually do a job as good or better than you doesn't want to work as a coach. So there are people like, Neil's not here for this one, like there are people who are very, like you guys are on my team, like they're very intelligent people, but they don't want to be, they're not coaches, right?
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Chapters
8 chapters
1
How can we set clear business goals?
0:00–1:27
2
What are the challenges in scaling a business model?
1:27–7:06
3
What is the importance of revenue retention?
7:06–12:56
4
How can coaching businesses scale effectively?
12:56–16:04
5
What strategies can increase customer acquisition?
16:04–19:59
6
How can Amazon boost book sales?
19:59–23:51
7
What are the best practices for marketing books?
23:51
8
How do you optimize revenue between launches?
22:51–32:55