Is it time to sell your business?
I launched a business brokerage.
We now have 1,300+ buyers on our distribution list.
When we get a listing we’ll do a breakdown of the business to my 190,000 newsletter subscribers, and several tweets promoting the listing (I get 50 million impressions a month on Twitter).
Want to sell your biz? I can get you a great deal. Click here.
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Ok, lets get to the good stuff:
There are two types of customers:
-Customers who think a $10k website is absurdly expensive.
-Customers who think a $10k website is absurdly cheap.
They key is finding enough of that second type to build a good company.
You CANNOT make real money working for the first. You cannot scale a business working for the first. You cannot afford to hire good management to make decisions and grow the company working for the first.
The truth:
A $100 customer:
“Can you come early? I have a little extra I need you to do as well. Can you stay longer? This didn’t work out as well as I expected I need to talk about the bill. Can you call me please right away we have a major problem!”
A $10,000 customer:
“Send invoice. Thx.”
The key to building a successful company:
#1 raise your prices.
#2 find customers who are willing to pay those higher prices and tell the ones who aren’t to go find a cheaper, shittier option.
#3 hire badass people to provide an exceptional experience and put those people between you and your problems.
The cycle works upon itself and grows and grows. It is a flywheel.
The more badass employees you hire, the better your service, the more you can charge and the more QUALITY customers seek you out.
If you keep your prices low, you can’t afford great people and you end up STUCK in a crappy cycle of stress and always scrapping to get by.
An important note:
Do not be afraid to FIRE a shitty customer.
News flash:
The customer IS NOT always right. Many of them are manipulative, bullies, assholes or just simply do not have the money to pay you what you need to grow a successful company.
Fire them. Get rid of them. Recommend them to somebody else.
In business you can compete in three areas:
- Price
- Speed
- Quality
You cannot compete on all three. A service that is the lowest cost cannot be the fastest and the highest quality.
A service that is the highest quality cannot be the cheapest.
You get to pick TWO of these things to compete on.
Pick #2 and #3.
If you compete on #1 you’ll get on the rollercoaster and experience the CONSTANT STRUGGLE trying to keep your head above water paying decent employees decent wages and offering a decent service to decent customers.
You make good money by providing EXCEPTIONAL services to customers who have a lot of money to pay you to do a great job.
Period.
Do not compete on #1 (price). Compete on #2 (speed) and #3 (quality).
So what do I do Nick? I have crappy customers and I can’t raise my prices…
Go SELL. Your job as a business owner is to sell and bring in the customers. Go find the customers who are willing to pay good money for great service and convince them to buy from you.
It is your job. Own it.
Onward and upward!
Nick Huber
P.S.
I’ve hired 30 employees outside of the USA with the help of Shepherd and it has been an absolute game changer for my business.
Underwriters in Colombia for $1,500 per month full time. Customer service reps with perfect english in the Philippines for $1,100 per month. Executive assistants for my construction team for $1,000 per month.
If you haven’t hired an employee abroad, doing so will change your business and your life. I recommend setting up a call with Shepherd and getting the process started.