Strategic Business Advice That Applies To Every Business | Ep 820
episodePreviously titled “Strategic Business Advice That Applies To Every Business | Ep 840” — renamed by the publisher on Aug 2, 2026
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What are the key strategies for scaling a business?
Hey guys, welcome back to the game. I have been getting your feedback and y'all have been saying you like the more interactive content, you like the more real business content, which hallelujah, so do I. I prefer actually talking about business rather than not. And so I'm stoked about it and I'm gonna keep doing more of this because I love it. And so this is full of business owners who ask me questions in person about their particular businesses. What's really nice about this is that there were so many common through lines that applied to every business in the room. Okay, I've got this other opportunity. Should I pursue that or should I keep the one I'm on? I've got multiple customers that I'm serving. Which one should I switch?
One's easy to get, one's harder to get. The other one that's harder to get is more profitable. The market's getting hard right now. How do I continue to scale despite that? And a few more questions that affect just about every business owner. Enjoy. Okay, Q&A stuff. So, typically I have a longer preamble that I'll do going into this. But before I do, did you guys enjoy this morning? Yes? Okay, awesome. It was cool to meet other people from the portfolio. Okay. Yeah. So those are the people actually do the stuff that we do kind of every day. Um, and hopefully I kind of fulfilled on the promise that I made yesterday that yesterday was all kind of like theoretical. This is kind of the framework that we think about creating value today. It was all about kind of tactics, right.
And actually making sure that you're asking the right questions and move your company forward the fastest. So, um, The big thing, hopefully, that I would like for you to get out of this is making sure that you're prioritizing the right things. And so I have had the fortune or misfortune, depending on how you see it, of sitting on a lot of quarterly meetings and annual planning. And so I have a very simple framework that I walk through for when we are figuring out what matters most. And if we think about strategy as prioritizing limited resources, time, money, you, to unlimited potential actions, then The better we do that, the higher the return we get on what we have and what we put in. And so fundamentally that is leverage, getting more for what you put in.
So every task that you have, because right now you probably have this big list of to-dos, right? You have this list of a hundred different notes that you're thinking about for the cleaning business. And you're like, okay, which one am I going to start with first? And when you get on the plane tomorrow, you'll have your empty page and you'll have like, okay, what am I actually going to do? Okay. So this is how I think through it. And I would teach this to your teams because they will come to you with ideas all the time. And being able to say no and here's why, I think helps a lot. So number one is every single goal that you have in the business or any action that you're going to take has to increase the number of customers that you're going to get, increase the lifetime gross profit per customer, or decrease the risk associated with making action one or action two. And so...
When someone comes with some sort of proposal of like, hey, I would like to use some of our limited resources to do something, you say, great. Which one of these things is it going to do? Is this thing that you want to do going to increase the number of customers we're going to get? Is it going to increase how much they're worth? Or is it going to decrease our risk as a business, aka increase the likelihood that these two continue to occur? And if they can't clearly draw a line to how what they want to do changes these things, you should probably not do it. So I'll walk you through an example. So let's say Sharon comes up to us and says, hey, I think we should redesign the site. And you're like, okay, why?
Well, I mean, I think it just looks a little outdated, right? And you say, okay, understood. Well, how much... Do you think that's going to cost money wise? And she might say something like, well, I think, you know, we get a firm in maybe like 25 grand or something like that to like do a full rehaul. And you're like, all right, got it. How long? About eight weeks. Okay.
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Chapters
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