When to scale your business with James Sinclair

Just for ego's purpose. So if you, you know, you think, right, I need to just, you know, I want to make 50 or 100 or 20,000 pounds to live the life that I want to meet, that I really want to have. Do you need to go and open that second business? Could you just get another 50,000 of revenue out of the existing business to make that money that you want to make? Most people think that opening a second venue, a second restaurant is just going to double your profits. In reality, you know, it can be the other way around because you're splitting yourself across two. I don't think having two is a great place to be. I think you either have one great restaurant or 20 great restaurants. I think three or four is just, you know, history tells us that those people usually reverse and go back to having one again because they can't afford the middle management to go and run it and stuff like that. Now. I, I thought it would be easy and it wasn't. The only reason I got through was I didn't have a family, I didn't have a relationship, I didn't take any money out of the business. I carried on doing gigs that weekend to live off of that. The business could breathe and we nearly lost it two or three times. And if you're not properly funded, it's near on impossible to get through that growth curve of becoming a multi chain operator of anything, whether it's a dentist, doctor, shop, restaurant, hotel, you know, it's very difficult. And that's actually why I wrote this book, the Experience Business. And this book is all about what you've just asked me, how you build a business with margin. Because if you haven't got margin then you cannot reinvest. Back in the cupboard, back in the business. Give your, what I call customer cuddles. There's a whole chapter in there called that Customer Cuddles where you give, you know, like Apple give you customer cuddles. When you go into one of the shops, there's always loads of staff around so you don't ever have to wait to see someone. Doesn't come from a cuddle. But you know, this thing, this Apple iPhone, it, you know, it cost them 100 quid to make, they sell it for 1200 quid. There's 1100 pounds worth of margin in there so that you do always have the best shopping experience.