"Should I start a business in 2025?" — Transcript

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1. 0:00Most people fail the first time and the
2. 0:02second and the third and sometimes what
3. 0:04happens is that the failures just become
4. 0:05less failure. Like in the beginning like
5. 0:07it not no one buys anything, but you do
6. 0:09remember building the logo on the
7. 0:10website and thinking that you had a
8. 0:11business but like nothing happens,
9. 0:13right? And then finally you make your
10. 0:14first sale but you're like this isn't a
11. 0:15real business. Like what's going on
12. 0:16here? Like I exchanged money so I guess
13. 0:18I technically been business. Do I have
14. 0:19to pay taxes on this now? Like what
15. 0:21happens, right? And then and then
16. 0:22eventually you get to one where you're
17. 0:23like, okay, now I'm starting to sell
18. 0:25stuff and make money but like I'm not
19. 0:26actually making money. I'm making
20. 0:27revenue but I'm making no profit and I'm
21. 0:29like incurring all this risking all this
22. 0:30debt in order to get it going and you're
23. 0:32like still trying to figure it out and
24. 0:33then on like your fourth try you're
25. 0:34like, oh, what do you know? I made a
26. 0:35profit. It took me five years to get
27. 0:37here. Every entrepreneur that I know, so
28. 0:39I don't know Zuck and I don't know Jeff
29. 0:40Bezos, so, you know, unfortunately I'm
30. 0:42not there. But the guys that I know,
31. 0:45almost all of us like failed for a
32. 0:47while. Like I don't know anybody who
33. 0:48like crushed it in their first five
34. 0:50years. Like most people like basically
35. 0:51ate glass and stared into the abyss to
36. 0:53to quote Elon Musk, which is just
37. 0:55existential dread at all points in time
38. 0:58and that eating glass is the fact that
39. 0:59all you do all day is deal with
40. 1:01problems, which are mostly revolve
41. 1:02around people and somehow you're
42. 1:04supposed to get work done in between. So
43. 1:05if you're in that kind of underdog
44. 1:07position, you can pop open the Leads
45. 1:09Book and I have a chapter that I wrote
46. 1:11on this, which is called More Better
47. 1:13News. So it's 161 and actually tells
48. 1:15some of this story um that I'm telling
49. 1:17you right now. And one of the things
50. 1:18that most smaller underdogs, really no
51. 1:23matter what size you are relatively,
52. 1:25have this belief that's false and so I
53. 1:26want to kind of crush it for you. Number
54. 1:28one is that the volatility that you're
55. 1:30experiencing is a result of inadequate
56. 1:34volume. So you're not doing enough,
57. 1:36which gives the appearance of
58. 1:38volatility. So let me say it
59. 1:40differently. If you were to sell one
60. 1:44person every like three to five weeks
61. 1:46and you're like, yeah, every month I get
62. 1:48like one customer, sometimes I get two
63. 1:50customers. What that really means is
64. 1:52that there's a certain amount of
65. 1:53advertising activity that is occurring,
66. 1:55whether it's you doing it or it's other
67. 1:57people doing it on your behalf, or it's
68. 1:58word of mouth, any of those things are
69. 2:00happening, and it takes that much volume
70. 2:02for you to get one new customer. And so,
71. 2:05the question we have to ask ourselves
72. 2:06is, "How can I take the amount of
73. 2:08advertising that's occurring over 4
74. 2:10weeks to get me one customer and crush
75. 2:11it into 1 day so I get one new customer
76. 2:13every day?" That's all it is. The
77. 2:15volume, increasing volume negates luck
78. 2:18and will give you consistency. The
79. 2:19second piece is understanding where you
80. 2:22actually sit here. Page 168, the size of
81. 2:24the pie fallacy. So, the issue is that
82. 2:27most small businesses think that it's
83. 2:29like this. They start advertising on one
84. 2:31channel, they're really happy. Look at
85. 2:33this big smiley face. Okay. Then, a
86. 2:36competitor comes in.
87. 2:38And they start advertising on the same
88. 2:39channel. And then in their minds, they
89. 2:41think, "Oh, no. I have half of this
90. 2:43market now." And then all of a sudden,
91. 2:45two more competitors come in. And now
92. 2:46you're like, "Oh, no. I have a quarter
93. 2:48of this market. It's shrinking fast.
94. 2:49It's so saturated." But, that's a
95. 2:52fallacy. That's a lie. It's an illusion.
96. 2:54This is what it looks like in reality.
97. 2:56So, most people see their market as one
98. 2:59method, one platform, one medium.
99. 3:00They're like, "Well, I make Instagram
100. 3:02Reels, and that's how I get my
101. 3:03customers." So, anybody else who makes
102. 3:05Instagram Reels, they're they're my
103. 3:06market, and it's saturated. But, the
104. 3:08reality is that there's so many ways to
105. 3:10get customers. You can do warm outreach.
106. 3:12You can do cold outreach. You can post
107. 3:14content. You can run ads. You can have
108. 3:15affiliates. You can have referral
109. 3:16networks. You can have employees doing
110. 3:18this on your behalf. You can have
111. 3:19agencies and headhunters who bring
112. 3:20people in. All of these different
113. 3:22vehicles for advertising. And then,
114. 3:25within those vehicles, now you have the
115. 3:26platforms of all those things. Right?
116. 3:28So, it's like you're making content on
117. 3:29LinkedIn. You're making content on
118. 3:30Twitter. You're making content on
119. 3:31podcast. You're making content on on on
120. 3:34on
121. 3:35Twitter.
122. 3:37Tik Tok, right? For however long it
123. 3:38lasts. Right? So, all of these different
124. 3:40platforms. It's like, so really, that
125. 3:42little circle that you have is just this
126. 3:44tiny itty-bitty circle here. And all of
127. 3:46these other circles and all of these
128. 3:47other methods and all of these other
129. 3:49mediums are basically empty. And so, the
130. 3:52reality is no one knows you exist. And
131. 3:55so, the answer is you have to advertise
132. 3:57more. You have to let more more people
133. 3:59know about your stuff.