- Dan, how can I grow my business faster?
- Do you know the number one reason
why most small businesses remain small?
You see most business owners, they are fucking cheap.
I was one of those business owners.
When you ask them "Hey, what do you do to get customers?"
They will tell you that "Oh, you know,
"a lot of my customers come from referrals, word of mouth."
Or you ask them "Hey, how much are you
"spending on marketing?
"What's your marketing strategy?"
And they would proudly say with pride and say
"Oh, I spend very little on marketing.
"I try to spend as little as possible."
You ask them "What's your marketing budget?"
"Oh, I don't really have a marketing budget."
Well, if you don't have a marketing budget
as a small business owner, you are a fucking idiot.
Why?
Because it means you have not cracked the code
of how do you acquire that first customer profitably.
One of the most important questions you need to ask as a
business owner is how do I acquire customers profitably?
How do I acquire that first customer profitably.
Until and unless you have an answer,
a clear answer for that,
you don't have a business, it's a wild ass guess.
You're always hoping that the next customer
will come and contact you and do business with you.
That's not how this works.
Because when it comes to growing your business,
the most important number that you need to know,
that I need to know,
that every business owner that needs to know
is your average order value.
Or sometimes in terms of marketing terms,
average cart value.
How much each customer is worth to you on average.
So example, let's say you take your total revenue
for a single product,
but one of the products that you sell,
you divide that by number of purchases.
Let's say that number is $100.
That's your average cart value.
That's pretty good.
It's decent.
So how do you grow?
What you want to do is
you want to acquire customers profitably.
Put aside your profit margin, your cost of goods sold.
Let's put all that stuff aside first.
Let's just talk about this particular number.
What it means is, now you know your average cost value,
average order value is a hundred bucks.
Then the question that we need to ask ourselves is
where can I buy a customer with less than a hundred dollars?
Now that could be Facebook.
That could be YouTube.
That could be social media.
That could be affiliate marketing, whatever it might be
to acquire those customers in the first place.
So when you go into the marketplace,
if you want to scale, right, if you want to grow fast,
you don't want to be spending least amount of money.
A much better question to ask is
"How could I outspend everybody else?"
Because long term in the marketplace,
whoever can outspend everybody else will win.
Those are the companies,
those are the brands that would get the most market share.
Does that make sense?
Comment below.
If that's the case,
your competition let's say could only afford 20 bucks
to acquire a customer.
And yet you could afford to spend $40, $50, $60, $80
to acquire a customer.
What that means is you could advertise on channels.
You could acquire customers at a rapid pace,
way more than your competitors.
That gives you an edge.
You see one of the things I advise all the business owners
that I consult with, I said,
"Don't let your small business make you small minded."
In fact, never, ever call your business
a small business,
because all big businesses start as a small business.
Dell started in a garage.
Apple started off in a garage.
So don't think, oh, I'm starting a small business.
I'm just a small business owner.
Stop that shit, okay?
Think bigger.
This is where you're starting.
Don't call yourself a small business owner,
you are a business owner.
Proudly tell people I am a business owner.
That's very, very good.
So once you figure that out,
understand and realize this, that marketing is nothing more
than applied psychology plus math.
Once you understand the math,
once you know your average cart value,
once you're keeping track of that
and how many channels could you go to,
to acquire those customers,
the higher your average cart value,
the faster you could scale.
Now if you don't know that number, then we got a problem.
That's the very first thing you got to figure out
as a business owner.
Once you know that number,
now you just advertise on all these channels,
all the possible channels out there,
and you just grow and you just scale.
And knowing if you can add more value
to your existing customers, i.e. with an upsell.
If you can bump your average cart value
from $100 to $105, $110, that makes a huge difference
because now you could spend more.
Don't be frugal.
Don't be cheap when it comes to growth, right?
If you are trying to save every single dollar,
you're not investing your profits into marketing,
that would slow down your growth.
You're keeping more money, but you're not growing, right?
It is about growth, not just growth for the sake of growth,
but we want to grow healthily.
So that's what we need to do.
So up-sale, cross sale, offering more products and services
or programs to existing customers so you can spend more.
So ask yourself this question.
What can you do to structure,
to engineer your business model,
you're offering to your customer base, right?
So that you can maximize the average order value.
And that's how you grow.
That is how you grow from a few hundred thousand dollars,
to a million dollars, to two million,
three million, ten million, 30 million and beyond.
I know it sounds so simple, but it is that simple.
Now within the details, how you do marketing,
how you build a funnel, how you do all of that,
that's a whole different conversation.
But the principle behind this is always the same.
You notice that companies who scale very quickly,
they crack the code on cold traffic.
How could you acquire customers through cold traffic,
to a group of strangers, profitably.
You crack that code, your business will grow.
Otherwise you'll always remain small.
To succeed in business,
the number one skill that you need, that I need,
that every business owner needs is the ability to close.
What do I mean by the ability to close?
To convince, to persuade, to influence someone, to say yes.
It is a skill that most business owners don't have.
Why don't they have that skill?
It's not your fault because no one ever trains you
on 'how do you close'.
How do you articulate your idea?
How do you present a solution
in a way that people want to buy?
You just never learn how to do it.
And that's what I teach.
We have trained thousands of business owners
on this one particular skill,
how to close anytime, anyone, anywhere
with confidence and conviction.
If you are serious and not just curious,
click the link below.
The way that we train business owners,
by the way, this is not easy, this is not a magic pill,
this is not push button solution.
If you are serious about learning this skill,
I'm going to put you through hell.
This is intense, this is hardcore.
This is not easy.
This is not "Oh just watch some videos
"and everything's going to be fine."
No, you're going to work.
Yes, that's the four letter word.
You heard me!
You're going to work.
Seven weeks, extremely intense.
Most people don't make it.
Most people don't have what it takes.
But if you are very, very serious and you say,
"You know what?
"I am going to solve this problem once and for all,
"I'm sick and tired of
"not being able to communicate my ideas.
"I'm sick and tired of hearing 'No'.
"I'm sick and tired of rejections."
If you want to solve this once and for all,
then click on the link below and I will see you in my class.