A short motivational business talk by Ryan Daniel Moran (Capitalism.com) focused on practical steps entrepreneurs can use to double revenue quickly. Key ideas: reframe revenue goals (multiply desired revenue by 10 to expand vision), identify what would close the revenue gap, three levers to increase revenue (more customers, sell new products to existing customers, raise prices), and audience-building tactics (lead magnets, email lists, ads/sponsorships/referrals/organic content). Emphasis on mindset work and releasing a premium offering to move all three revenue levers.
Chapters
We're on a race right now to double our business before the end of the year. How much money do you make right now? So what's your business selling? What are you taking home? However you want to evaluate this, question number two. How much do you want to make? What's the difference between question number one and question number two? What is preventing you from closing that gap? If there was a magic wand that allowed you to close this gap next week, what does the magic wand do? Tiffany says capital. Bullshit. No entrepreneur lacks capital. Capital's everywhere. We're swimming in capital. What entrepreneurs lack is the vision that is exciting to capital. Now, another way to ask this question is, what would absolutely close that gap? Like, if you didn't need to know how, and if you didn't need to do it, what would make that happen? Now look at the how much you want to make line. And then we're going to do a mathematical formula on this. How much money we want to make. How much money do you want to make times 10? And write that number down. It seems too big. It seems too high. Did you judge the number? Because otherwise, like, if you believed it was normal, it would have been the first number. It would have been the how much money you want to make line. But when we Times that by 10, for a lot of people, there's this hesitation. It's just a number. It was just an assignment. It highlights the story you've got in your brain about how you're going to get there. But when you realize that it's just a story, then you can make these numbers whatever you'd like them to be. How did you open yourself up to the bigger number? So here is your first assignment. Is there anyone you know, you don't need to know them personally, that makes or has made that number consistently? The answer is always yes, because no one here is Jeff Bezos. No one here is Warren Buffett. The evidence part of this process is not just people. It's also things like processes. It's also opportunities. It's also companies. Are there companies like yours who have that kind of revenue? The money you want to make times 10? So if the more evidence you can find for that amount of money you want to make times 10, and the more you play with this, the more normal it becomes. So the next question then is, how does it feel when you go back to that first number of how much money you want to make? Small. Meg says, easy. Some people might use the word disappointing. It's like, shit, I've been doing this for five minutes and I already realize how small I've been thinking, be just as mindful not to judge that number as you were when you judged the number times 10. When you times the number by 10, you had self judgments come up. I can't do this, it's too hard. And when you now are comparing, you're like you lived in that number and you normalize that number for five minutes and you look at your first number of what you wanted to make. Some of you are saying the exact same thing in reverse. I'm not thinking big enough, I'm insecure about it. And if you pay attention to this, it's the same story. Then you compare it back to your original number. Oh, that's small. I don't think big enough. It's still self defeat. Perhaps the story you've got about what's normal or hard or big is just a bullshit story in your head. Now there are three ways to increase revenue in a business. You can get more customers. Number two, sell new stuff to your existing people. Or number three, you can raise your price. You can do all three of these with one move and that is releasing something premium in the marketplace. Now you don't need to know what that is yet. These three things are not independent of one another. They are correlated with one another. How do I start building that audience? Create a lead magnet and drive all of your ads and exposure to that lead magnet. If you don't know where to build an audience, build an email list. All of your content exists to engage the existing audience. And the purpose of the first purchase is to pay for the acquisition cost. All of the profit comes in the follow up. That's audience building in three points. If you're looking to build the audience, what is the simplest thing that you can give them that would entice them to to join your community? There's essentially three ways to dump people into the top end of that. There's advertising, there's sponsorships and referrals, and there's organic content. The way that we're going to focus on doubling our business is putting our attention on lead acquisition and answering that question, which of those three or all three of those areas of business growth are we gonna focus on new product, increasing frequency or price? But of course none of this matters if you can envision yourself doing this, which is why we spend so much time on that deep work. I'm Ryan Daniel Moran from capitalism.com we help entrepreneurs build seven figure businesses. When you're ready for us, we'll be ready for you. And you can start your journey@capitalism.com start.
