It's the end of day 1 of a 2-day scaling workshop here in Vegas at the acquisition.com headquarters.
The average business owner here is doing a few million a year.
Today, we spent about 10 hours going through the most clearly presented, high quality, specific, actionable advice for scaling our companies.
Seriously, just ONE piece of advice from 20 seconds of the day is going to have a 50k/yr bonus to my bottom line.
I am doing a disservice by summarizing the event so far, but here it goes:
It is a thorough dissection of the theory of constraints.
That is how you scale your business.
You focus on increasing lifetime value of customers (LTV) through a bunch of different incredibly creative and valuable ways.
You lower customer acquisition cost with a bunch of strategies.
You get your LTV:CAC ratio to 10:1
You eliminate constraints with each stage of the business.
Each problem you now have identified is just a skill that needs to be learned and then handled by someone you put in that place to solve that problem.
And then we talk about the specifics of each of those identified problems and how to best solve them.
Here's the thing: This is all very simple....because business is actually very simple. You just need to do the basics well. That's the mark of a professional: killing it in the basics.
I was blown away by the professionalism, clarity, intelligence, and helpfulness of everyone there. The information was actually the most helpful I've ever encountered from someone in person.
Side note:
At the end of the day, me and a couple other home services business owners wanted to grab some dinner.
I walked over and asked a nice lady working the event where she recommended we go for some steak.
She said "Carversteak is the best. What time?"
"Uh....around 7?"
"Wait here" *walks away*
"Uh....okay?"
....
*walks back*
"You have a reservation for 7 now".
We go and enjoy an amazing dinner. Probably around $600 for us three. We toss in our cards and tip and as we are walking out I hear some chatter. The waitstaff is on the phone.
"Yes...and it's under acquisition.com?"
"huh?"
Turns out, they called the restaurant and paid for our meal.
Classiest thing I've ever seen.
Small gestures are not so small.
Of course, it makes sense to do so. They know its just a small dinner and we are more likely to do business with them in the future, yada yada, I know...
But it was unexpected, classy, thoughtful, and it really highlighted how much of a professional operation it was.
It made me think "I want my customers to feel this way" and I am going to do just that.
I am going to make everyone who encounters my company to be shocked by the same professionalism and thoughtfulness.
The greatest takeaway from this day has been simple: be the fvcking best in anything you set out to do and do it with intense focus. It all has to be the best. Advertise the best. Sell the best. Onboard the best. Recruit the best. Give the best experience. Train the best. Do the best work. Just be the best.
I've got a long long list of precise, clear, actionable things I am going to implement immediately in my business.
This year has been the closing of a chapter and the start of another. I have cleared all distractions from my plate. I have burned all bridges. I have cut loose all of the extra weight. I have nothing else in my sights. I have one thing that I am going to build and scale. And I am going to do it with 3 words in mind: be the best. I started this year surfing in Mexico being a lazy, absent, neglectful business owner. This year you will not catch me doing the same thing.
*If you have anything to say about the workshop without having attended or just by reading my poorly summarized explanation of what it was, save it. I summarized 0.1% of the day, and I can promise you it was a massively underpriced deal for what was delivered so far. I have spent so much time banging my head against a wall, pacing my living room floor for hours and hours in the middle of the night trying to think about what to do in my business to take it from good to great, and today it was as simple as "just do x,y, then z" and it's such a relief.
The average business owner here is doing a few million a year.
Today, we spent about 10 hours going through the most clearly presented, high quality, specific, actionable advice for scaling our companies.
Seriously, just ONE piece of advice from 20 seconds of the day is going to have a 50k/yr bonus to my bottom line.
I am doing a disservice by summarizing the event so far, but here it goes:
It is a thorough dissection of the theory of constraints.
That is how you scale your business.
You focus on increasing lifetime value of customers (LTV) through a bunch of different incredibly creative and valuable ways.
You lower customer acquisition cost with a bunch of strategies.
You get your LTV:CAC ratio to 10:1
You eliminate constraints with each stage of the business.
Each problem you now have identified is just a skill that needs to be learned and then handled by someone you put in that place to solve that problem.
And then we talk about the specifics of each of those identified problems and how to best solve them.
Here's the thing: This is all very simple....because business is actually very simple. You just need to do the basics well. That's the mark of a professional: killing it in the basics.
I was blown away by the professionalism, clarity, intelligence, and helpfulness of everyone there. The information was actually the most helpful I've ever encountered from someone in person.
Side note:
At the end of the day, me and a couple other home services business owners wanted to grab some dinner.
I walked over and asked a nice lady working the event where she recommended we go for some steak.
She said "Carversteak is the best. What time?"
"Uh....around 7?"
"Wait here" *walks away*
"Uh....okay?"
....
*walks back*
"You have a reservation for 7 now".
We go and enjoy an amazing dinner. Probably around $600 for us three. We toss in our cards and tip and as we are walking out I hear some chatter. The waitstaff is on the phone.
"Yes...and it's under acquisition.com?"
"huh?"
Turns out, they called the restaurant and paid for our meal.
Classiest thing I've ever seen.
Small gestures are not so small.
Of course, it makes sense to do so. They know its just a small dinner and we are more likely to do business with them in the future, yada yada, I know...
But it was unexpected, classy, thoughtful, and it really highlighted how much of a professional operation it was.
It made me think "I want my customers to feel this way" and I am going to do just that.
I am going to make everyone who encounters my company to be shocked by the same professionalism and thoughtfulness.
The greatest takeaway from this day has been simple: be the fvcking best in anything you set out to do and do it with intense focus. It all has to be the best. Advertise the best. Sell the best. Onboard the best. Recruit the best. Give the best experience. Train the best. Do the best work. Just be the best.
I've got a long long list of precise, clear, actionable things I am going to implement immediately in my business.
This year has been the closing of a chapter and the start of another. I have cleared all distractions from my plate. I have burned all bridges. I have cut loose all of the extra weight. I have nothing else in my sights. I have one thing that I am going to build and scale. And I am going to do it with 3 words in mind: be the best. I started this year surfing in Mexico being a lazy, absent, neglectful business owner. This year you will not catch me doing the same thing.
*If you have anything to say about the workshop without having attended or just by reading my poorly summarized explanation of what it was, save it. I summarized 0.1% of the day, and I can promise you it was a massively underpriced deal for what was delivered so far. I have spent so much time banging my head against a wall, pacing my living room floor for hours and hours in the middle of the night trying to think about what to do in my business to take it from good to great, and today it was as simple as "just do x,y, then z" and it's such a relief.
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