Do THIS Before Starting A Business (Or Quitting Your Current One)

Hey, guys. Sabri Subi here. And in today's video, I'm going to be answering Luke Saban's question. He's written, hey, Sabri. After a week of diving deep into the Halo strategy and really understanding my market, I discovered that there's one particular frustration that keeps my dream clients up at night. Here's the quote from one of them. I'm jumping around from one opportunity to the next and never mastering one thing that could change everything. There's kind of a culture of never giving up, working till 5am and just grinding even when something is clearly not working. So my question to you is, how do you actually know when it's time to step down and try something else? First of all, that is a great question, Luke. And I can see that you really have put a lot of time and energy into your market and you're doing your Halo strategy research. And exactly what you're doing is the best thing that you can ever do to make your offers convert by looking at the direct quotes and verbatim that your market is saying online. And that quote that you just shared with us is absolute gold. Make sure that you keep that on like a Google Doc and you just keep adding to that thing over, over time and that will just add like layers and layers and deeper levels of understanding of your target market. And that is the thing that makes you win. So, first of all, hats off to you. I can see that you're focusing on the right things. Then in terms of your question about knowing, you know, after trying a bunch of different stuff, like when is it time to kind of call it quits and move on to the next thing? Now, the way that I kind of my whole philosophy with business and with launching new businesses and testing ideas and really coming up with like a minimum viable offer for your marketplace and testing, that is to always test the front end before you go and develop the back end. It's the opposite of what most people do. Like most people, when they start a business, they go and spend a laborious amount of time on developing the product or service that they're going to be selling and setting up their brochures and their business cards and their logos and building a beautiful website and getting all their ducks in order in a row, so to speak, before they launch their business. And then they launch it. And it's almost like the business plan was scribed into marble or concrete and they're not able to be very fluid because they've all already spent all this time and energy on developing the business and Then they're trying to shoehorn that thing that they've developed into their market, right? And it's the inverse approach that works way, way better by actually going out to your market and first finding out what it is that they want, right? By doing the halo strategy research, looking at the best selling products in that market, looking at, you know, question platforms like Quora and Reddit and looking at YouTube comments and the best selling Kindle books on Amaz and the best selling physical books on Amazon, or if you're selling like a widget, the best selling widgets in that category and really, really understanding what it is, then going, okay, this is what the market wants. Like this is what everyone's saying about the best selling products that they really love. So I need to include something like that or a newer, unique, a novel way to present that same thing. And these are all the things that they don't like. So I need to eliminate all of these things from my product or eliminate as much of them as I possibly can and then need to market it way better than what those people are. And then you have a winning formula and then you go, okay, this is exactly what the market wants. And I've run a bit of ads, I've seen that I can sell it. Now let me go and invest a lot of time and energy in building out the back end of the business because I know that there is demand for this. So it's. I know that when I do go to the market, I'm going to be opening up the floodgates because I've already tested the front end. And that's the thing that you really want to do. Because ultimately when you start a business, you're testing a hypothesis, you're coming up with a hypothesis saying, I think that this is what the market wants and I think that they will buy this at this price point. And then you're going out there and then you're just testing it, right? And if it doesn't work, then you need to test other variables in that hypothesis to try and get product market fit right, and try to figure out something that is going to work and you go through that process and you find out what they want and only once you find out what it is that they want do, then you go and you make the product or service and you should make a product or service that is 10 to 20 times better, if not 100 times better than the existing solutions to that problem on the marketplace. Because people aren't going to switch from something else to your thing if it's just 10 or 20% better. It has to be infinitely better than what is currently out there in the marketplace. And the actual mechanics of doing this is I like to conduct the halo strategy research, really dive deep into the marrow of what my market wants, like really, really understanding it. And then I like to write a sales letter or a video sales letter, it doesn't matter which is the one that you're going to focus on. And I need to sell the living crap out of what it is that I'm going to have to offer and get clear from my own standpoint of exactly what it is that the market wants and then write the sales letter to deliver exactly what the market wants. And then for me as myself, I get clear. Okay, this is it. This is what the market is starving for right now. Let me test it. And then after I've tested it now, let me go and fully develop this thing out and make it absolutely world class. If you take that approach, what you find is that you don't have a lot of sunk cost because basically all you've done is written a sales letter, right? Or written a VSL and you've run some ads just as some bare bone things. And even if you want to move people to a place where they make a decision and then either not collect their cash and say yeah cool, like awesome, I'll get their credit card or even process a small amount of it or make a small payment and then you know, give them their money back because then you at least know, right, that they're willing to give you their money and they're voting with their money that they wanted and then say cool, I'm going to go. And then you know, I'll come back and I'll give this to you in X amount of time frame, right? And if you're honest and you're open with people and they're not any out of pocket and you're locking them in with a really good price or you're giving them some benefit from doing that, that shouldn't be a problem. And then you don't have the sunk cost of investing all the time and energy in something that's not working. So that's the reason that I like to test the front end. And trust me, I learned that the hard by investing lots of money and lots of time into different business ideas that didn't work right? But you're so far invested in those things that you spend even more time and energy into those businesses to justify the sunk cost that you've already accrued. It's this vicious kind of cycle that you get caught up in. And that was when it's like I looked at, okay, what is the quickest, leanest framework for just deploying things, testing hypothesis, and then making changes to those things until you do get a winner? Because even the best copywriters to have ever lived, they've kind of got like a 30% batting average, meaning 70% of the promos and the offers that they put out don't work the best in the world. So you need to think about that when you're launching new offers or new business ideas that you're going to have a very high probability of that business not working. So you want to have as little invested in it just to test it. And then once you're like, okay, there's something here, there's a desire here in the marketplace, people are willing to pay me to solve this problem for them. Now let me go and really invest all the time and energy to build something that is truly world class. So I hope that helps you. Hey, guys, if you're enjoying these videos, please, like subscribe and hit the bell button as we're dropping a video like this every other day on YouTube. And if you've got any questions, just leave a comment below with heysubrey and I will do my best to get to it. Sam.