Nate Tilley explains why most business owners fail: they treat advertising as a cost instead of customer acquisition. Word of mouth is nice, but you need paid ads to feed your sales machine. The money is in selling, not in hoping people find you.
In everyday life.
Hypothetically, you're walking down the street and you walk past businesses, businesses, businesses. What would you say? The number one thing people don't do correctly, they.
Don'T know how to get attention. That's the first thing. It's basically all about getting attention and solving problems. In order to build a business, you have to become a business builder. You are in the business of getting customers, building a team, bringing people within your organization. The money isn't in the goods and services. It's in the selling of those goods and services. The biggest sin that I see business owners commit is that they look at advertising as a cost on their P and L, and they wear it as a badge of honor that they don't advertise. They're like, I don't need to advertise. I get all my customers a word of mouth and say, okay, so you're broke. Like, you don't have any money. You have to feed people into that feedback loop. And I'm not saying that you shouldn't try to optimize to get word of mouth right. Word of mouth is great, right? It's the icing on the cake. It's not the cake itself.
