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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:
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.