The Secret To Building An 8-Figure Business (Traps To AVOID When Trying To Scale)

Hey guys, Sabri Subhi here. And in today's video, I want to talk to you about the never ending hype cycle. And that's really like the never ending hype cycle to kind of growing a business and you know, shiny object syndrome and all the noise that as a business owner you're just constantly bombarded by. Because, you know, one of the things that I've realized in kind of, you know, scaling a business to six figures and then to seven figures and to eight figures and beyond that, you know, when you're trying to go from like seven figures to eight figures, it's not about adding more, right? It's basically about saying no to more things and really just cutting it back and doing a few things, but doing them very, very well. Where if you look at kind of that, that kind of death shallow of like trying to go from like a million to 10 million and beyond, a lot of people get stuck in that, right? A very small percentage of businesses ever get to a million, very, very small sub percentage of those people ever get to eight figures and beyond. And that's because, you know, the same skills and the same things that you did to get you to seven figures, they're not the kind of skills that you need to do more of to get to eight figures. And what I mean specifically by that is that, you know, when you're growing a business, you kind of in the beginning, you try a few things, you get a bit of success and you're like, oh, awesome, this is working really well. And then you start to layer on more things because more equals better, right? More equals more. And then you add more things on and you know, some of them work and then some of them don't, but cumulative, they all add up and you get to an area where the net output is still larger right from doing more. So then that kind of gets you to the point where you're doing six figures or seven figures a year. And then you think, okay, cool, well, this is what got me to 7 figures. Therefore I just need to like 10x that, right? I just need to do way more stuff in order to get way more as the output. And that couldn't be any further from the truth. But the reason that founders and business owners get, get in this is because they get caught in the never ending hype cycle of all the different shiny objects and tools and tactics and strategies that you can employ to grow your business, right? They're talking, you know, AI and then chat bots and native advertising and this new funnel of this new webinar automation platform or text messages. And this is always just this huge hype cycle. And it kind of. It goes up and then it lowers back down. And then if you ever want to get any real progress, you're gonna start to slowly edge your way back up again, right? And what I mean specifically by that is if you're on anybody's email list or you're on YouTube or you're doing courses, it's like there's always somebody out there, like some guru spruiking his solution to your problem, right? And it's always some new shiny solution, right? Because new shiny things are the easiest things to sell. Like, no one wants to sell hard work or the fundamentals in growing a business, because that's so much harder to sell than the new shiny hack, the new chat bot, the new secret software that you just install and it plugs into your Facebook ads manager and it just explodes all of your results, right? That is the easiest thing. Human beings naturally gravitate towards what is new, and that's the death trap, because it's a constant hype cycle. There's always something new out there. There's always so many areas to divide your attention and your time up by just constantly chasing that shiny object. And that's what I see so many business owners do, and they never get any progress. It's like, you'll speak to one of them and they'll be like, oh man, like, I'm using this new retargeting strategy. Or, you know, have you used this new webinar automation platform? And then you circle back around with these people in like a year's time and you're like, oh, how's your business going? Like, you know, how's that crazy softw that you were using? Has it just exploded your business? And they were like, oh, no, like, I ran into some problems and I'm not using that anymore, but I'm using this new thing. And you're like, okay, cool, how's that going for you? And you're like, oh, well, I've spent $5 on it. I'm getting like a thousand roas on it. And you're like, okay, cool. Then you circle back around with them in six to 12 months and it's the same story, right? And that's because they are just caught in that hype cycle and they're caught constantly chasing that shiny object, right? And this thing will kill you if you don't. You're not aware of it, right? And it's something that I was. I even fell victim to in the beginning of, like, my entrepreneurship journey is, like, always looking for that quick hack and that quick solution and looking at what other people were doing and going, oh, did you see what so and so is doing? Let me try apply that to my business. And then you fall down a rabbit hole and you go chase this shiny object and you end up broke and nothing works. And you get incredibly frustrated that you're. You're basically spinning your wheels and you're not getting any progress, right? And for me, it was only when I really started and made the conscious decision of putting all of those things to bed did my business start to explode geometrically. When I started to kind of commit myself to the fundamentals of business and the things that weren't going to change, right? Like, the reason that I don't obsess over the Facebook ad targeting strategy is because that shit's going to be gone in a month, right? Facebook or the Google Ads or whatever the platform is, these things are changing so rapidly that if you spend all of your time and energy on just becoming a media buyer and you're running a business, like, you're not going to have a business, because these things change so quickly that if you become a master in it, it's not a skill that compounds over time and that you can parlay into other things and unlock, you know, new growth for your business. So the thing that you really want to look at is, like, what is the biggest problem that my market is experiencing? What other things that are not going to change over the next year? What are the things that are not going to change over the next 10 years, right? And that's what you want to be focused on. You don't want to be focused on what your competitors are doing, right? Because then you become, like, competitive, focused business, right? You want to focus on your customer, and you want to focus on being able to solve that problem for your customer better than any one of your competitors do. And you want to become customer focused. And this is how you kill shiny object syndrome, right? Because every decision that you make, you're going to run it through the mental model of like, does this get my customer better results? Does it get my clients quicker results? Does it give them a better return on investment with me and constantly being focused on everything that you do within your business to really provide the customer with the absolute best result in the quickest amount of time possible for the lowest amount of money, and that's the only thing that you want to focus on. The rest of it is just noise. Right. And you know, I'm obviously huge into marketing and I believe that that is, you know, the single most important aspect to really being able to effectively grow your business. Because it doesn't matter if you have the best solution that is going to solve your clients problems the quickest, the cheapest, and give them the best result possible. If you don't have distribution, if you can't put a message out in front of a marketplace and a stimulus that gets them to act and actually take you up on that offer, then it doesn't matter, right? So everything starts with a sale, right? Nothing happens until a sale is made. But then after you've kind of figured out that piece to the puzzle, you don't want to keep chasing the next marketing hack or the next platform or the next little loophole that you can exploit that's going to give you a really good return on investment for a very short amount of time. Because then it's just a cyclical cycle and it wears you out and you end up giving up and you ultimately lose to a business or a founder who's out there trying to solve these really hairy, complex problems, right? I've spoken about this before. If you look at business and you boil it down to its first principles, all we do is get paid to solve problems. Therefore, your antenna and your radar for your market should not be on like what is the new hack or what is the new loophole that I can exploit? But it should be like, what are the new problems that are emerging? Like what are the biggest problems that I'm seeing out there in the marketplace and how can I solve them? Because the more problems that you solve, the more money that you will make, because you make money from solving problems, right? It's, it sounds very, very simple. However, most people don't do that. They spend all of their time and energy on constantly chasing that shiny object, right? And the way to just totally eradicate this virus from killing your business is you need to sit down and really look at what is the fundamental problem in your industry that your business solves, right? And for me, in my industry and my business, you know, we solve the biggest problem that businesses have, which is how do I get more customers? And we don't care what the channel is. We're channel agnostic. It doesn't matter as Facebook or it's Instagram ads or whatever the coming channel is, like, we don't really care about that, right? All we care about is providing our clients with the most lucrative return on investment possible at the largest scale, right? It's not about exploiting some new channel that doesn't have scale and getting really high return on investment on like $5 or $100. We're all about bringing in new customers for our clients at large quantities and really helping them scale their business up. And in this hype cycle, there is just always noise like combating and just coming at you and saying you need to look at AR or VR or AI or chatbots, or you need to be looking at native advertising, or you really need to look at text message funnels or whatever it might be. And I spend all of my time chasing those rabbits, right, and trying to catch them all. Then I wouldn't catch any rabbits, right? And I'd just be there with a broken business model that is just trying to chase the latest hack and the latest loophole, right? Where instead you just want to focus on how do you get the best output possible. And it comes back to what I was saying earlier on is by looking at the fundamentals and look at what's working and eradicating everything else that's not working and doubling down on the things that are. And I know that sounds very elementary and very simple, yet no one does it, right? The very, very few business owners ever do it. And they're the ones that are always wildly successful, the ones that are just looking at a few basic principles and mastering those, right? If you look at like the greatest people, they're always wanting to kind of master the fundamentals and really solve really big problems and kind of deconstruct them and then build them up to get their customers and their clients the output. It's not about them finding the craziest little loophole and then exploiting that and then building, building a business that has a huge significance, right? The thing that I really want to urge you to do is really just turn the blinders on, put the ear muffs on and don't listen to this never ending hype cycle because it's like a drug that releases dopamine into your br. You're always looking for the next high and you're all, you can never, ever beat that hype cycle. Like, there's always something that's going to be getting your attention. There's always some little glimmer in the corner of your eye for a shiny object for you to go and look at that's going to distract you from the real business that you're in, which is about solving problems and getting your customers the best possible result. And that shiny object syndrome, it's certainly I wasted, you know, a couple of years in that thing. And I see it constantly haunting businesses where they're trying to put more on their plate rather than take more off their plate and really double down on the things that matters. So I urge you to do that. It will serve you better than anything that you can do in your business for years to come. 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 hashtag heysubree and I will do my best to get to it.