A short monologue advising small-business owners to expand into adjacent, related fields rather than making large, unfamiliar jumps. The speaker recommends taking “one step over” into areas where existing customers and relevant knowledge lower risk and speed up wins, using the example of a gutter business moving into roofing or other home services.
What do I want this business to do for me? I'm eating. How much work am I knowledgeable in it? I don't think you should take three steps over to buy a business. I think you should say, take one step over. For example, I'm in the gutter business. I'm gonna get the roofing business or something in the home business of some sort. I already have the customers I can win much easier and faster. And it's not as sexy because you're like, well, I'm trying to buy a business to get out of that. But it's just one step over. If you step too far over. We take for granted what we want and the things that you have access to.
