Only One Way to Get Customers?!

Summary

• If you’re just starting out, focus on one acquisition channel. Don't overcomplicate things.
• For a business making $1 million a year, one channel should be enough. Perfect that channel first.
• Once you reach $1 million a month in revenue, start thinking about diversification.
• Diversifying acquisition channels at this stage helps get more customers and reduces risk.
• My company reached $4 million a month before we added outbound marketing. You don't need to rush into multiple channels right away.
• Remember: master one strategy before moving to the next.

Video

How To Take Action

Action Plan for Small Business or Personal Growth

Focus on One Acquisition Channel:
I would suggest starting with just one acquisition channel. Whether you're running a small business or working on personal growth, stick to one thing and do it well. For example, if social media works for you, focus all your efforts on mastering that before looking elsewhere.

Perfect and Scale:
If your business is making up to $1 million a year, continue to perfect that single channel. Don’t get distracted by trying to handle multiple channels. Instead, refine your strategies and increase your spending on that channel to get consistent results.

Diversify at the Right Time:
Once you reach $1 million a month in revenue, start thinking about diversification. Adding another channel can help you get more customers and reduce risks. But remember, only diversify when your primary channel is performing at its best.

Master Outbound Marketing:
A good way of expanding once you’ve hit significant revenue milestones ($1 million a month) is to consider outbound marketing. This helps bring in a steady stream of new customers and reduces dependency on a single channel.

Avoid Premature Diversification:
Just because you’re doing well doesn’t mean you need to rush into multiple channels. Focus on growth within your strongest area. We didn’t add outbound marketing until we reached $4 million a month. That’s a good reminder that patience and perfection in one strategy can yield significant results.

Consistent Execution:
Consistency is key. Whatever strategy you decide on, make sure to execute it diligently. This applies whether you're working on your business or personal growth. Consistent effort in one area will build a foundation for future diversification.

Focus on these steps, and you'll see meaningful progress without unnecessary complications.

Full Transcript

I've heard you speak about before focusing on one acquisition Channel but then there's the the single acquisition Channel problem so if I'm talking to1 million dollar company it's like hey yes we definitely need to have more more than one acquisition Channel someone's like hey I started my lemonade stand like I think I need to have diversify my acquisition channel is like bro like let's just maybe sell some lemonade and see what happens a million bucks a year is where I tell everyone like just do one thing for one person on one channel cuz everyone tries to over complicate it once you get there then the question is okay now we usually just need to do it consistently how can we like consistently do everything and increase how much we're spending for you get to a million bucks a month you still probably be able to stick with one channel at that point I'd probably diversify cuz that's when it's like get more customers increase LTV decrease risk so if we were to get a second acquisition channel that would be both getting more customers and decreasing risk which is why it's a a huge Strategic Benefit to do it we got to 4 million a month before I started doing outbound like for clarity 48 times what you're doing so yeah you definitely have room to like triple