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If you're making < $10k mo from you biz, read this:

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3 years ago

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If you make less than $10k/mo from your business, read this:
You’re working hard. But… your bank account doesn’t reflect the effort. So you try a million things. & what's the result? Overwhelm, burnout, & a heaping side of anxiety. I've been there. Learn from my mistakes. Do these 3 things instead:
1. Offer one product or service Bad biz advice is easy to find on Twitter. The most common: "When you start your biz, offer a lot of services so you'll become indispensable to your clients." The idea is that more services = more value = more revenue. 🙅🙅🙅
Do the opposite. Focus on one hyper-specific service & be 10x better than every generalist.
Think about restaurants. Do you want to eat at a restaurant that claims to serve the world’s best burgers, sushi, & subs? No. Why? Bc you know they’re full of shit. Now think of your favorite pizza place. Do they focus 99% of their effort on making pizza? Probably.
Doing one thing well helps you stand out in a competitive industry.
2. Be hyper-specific about who you serve If you’re starting an agency, don’t serve “business owners.” You'll be competing against companies with millions in revenue & hundreds of employees. They'll destroy you. Instead, get hyper-specific:
🛑 Gym owners Restaurants Creators Agencies ✅ Boxing gym owners Take-out restaurants Youtube creators SEO agencies
I know a people that make: • $37k/mo making websites for therapists • $44k/mo finding guests for podcast hosts • $73k/mo writing blogs for PPC agency owners (That's profit, not revenue.)
Warren Buffett says a company needs a moat to be successful. A moat is a competitive advantage that gives the co. pricing power & above-average profit margins. By narrowing down your service & targeting specific customers, you’re building a tiny moat.
Tiny niche + super-specific service = moat You'll have less competition, so you'll quickly become the go-to expert in your field. & Having one service makes it easier to deliver consistently. Consistency keeps churn low. Just ask McDonald's.
3. Scratch & claw your way to 50 customers When you start, fight the urge to • Set up a fancy website • Run ads • Post on 10 social media sites • Write 5 blog posts a wk There is a time & place for all that, but that time is not now. 🙅🙅🙅
To stand out, do less. Here's how you get customers: 1. Make a hyper-targeted list of prospects 2. Send them a 10/10 outreach email w/ a soft pitch 3. Get on the phone w/ as many of them as possible 4. Ask them to buy something from you
If you do this right, you can get to $10k/mo before you have a product or a service. Jason Cohen used this strategy to build WP-Engine (they're now doing $200mm ARR.) twitter.com/JohnIsBuilding/status/1535326837907173377
Jason called this unscalable, hyper-focused outreach the “scratching & clawing" technique. Scratch & claw until you have 50 customers (or are consistently making over $10k/mo.) Once that’s done, think about other marketing techniques.
TLDR How to make $10k/mo from your business: 1. Be hyper-specific about who you serve 2. Offer one product or service 3. Scratch & claw your way to 50 customers
If you got value from this thread, follow me @JohnIsBuilding for more tweets on all things growth.
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John Franklin

@JohnIsBuilding

Building UseKilo.com | Built & sold 5 gyms around NYC | I talk about the gym world & Dad stuff