Geraldine Carter

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When Your Business is Hungry

The road into Phong Sali was waaaaaay more mountain-y than I thought it was going to be. 
 
(Laotian road maps don’t always provide the relief detail you’re looking for.) 
 
I had ridden 80 miles and was chasing the last remnants of daylight – despite growling hunger, I didn’t have time to stop and eat. 
 
So when I rolled into town, I went straight to the tea house for food.
 
Skip the cold bucket shower, that can wait. 
 
The tea house was closing, so they pointed me to a few choices on the menu. 
 
The pickled snake in a jar was not for me.
 
It was going to have to be squirrel. 
 
Having never eaten squirrel before, I didn’t know how many to order, so I figured I’d start with one and go from there.
 
Turns out, there’s not a lotta meat on squirrel bone.

One squirrel ... wasn't going to cut it.
 
I ordered and ate four more as they closed up shop, and then went to the guesthouse hungry.  
 
It’s hard to fill a hungry cyclist’s belly on squirrel.
 

 
Look. 
 
I have nothing against squirrels – they play an important role in the ecosystem.
 
But as a meal, even though they taste fine, there is not enough meat on the bone. 
 

 
Whoops! I don’t mean to compare clients to squirrels. :)
 
When your business is hungry, we need to fill it with clients whose challenges make for meat on the bone.

Orphan 1040s won't get you to $400K. You'd have to do 1000 of them at $400 a pop. Even 500 at $800 a pop seems intense.

Monthly bookkeeping + returns included at $600 / mo won't get you there either - you would need 55 of these to get to $400K. Having some of these are ok, especially if they grow into $1200 / mo clients. But these alone ... seems tough. 

...

To find bone with more meat, look for more expensive problems, like:

  • "I'm a builder, and I have no idea how much of the money in my bank account is actually mine. I'm stressed out all the time that I'm going to bounce payroll for my crew. And I'm distracted all the time. My wife is super-patient, but I know it's hard on both of us. I've gotta get a better handle on my money, because I'm about to break."
     

  • "I'm a coach, and the back-end of my business is a complete mess. I don't even understand what's going on. There's money all over the place, but I can't tell what comes from where, how much of what I've sold, what I should focus on selling, and if I can afford to hire another person. I make a million dollars, but inside it just feels like complete chaos and I'm scared I'm going to lose it all."
     

  • "I'm a real estate investor, and I want to keep adding to my portfolio. I know a good deal when I see one, but when properties are about to go on the market, I need to be ready to pounce. When I don't have a clear picture of my financials, I have to let the best opportunities sail past me into the mitt. It's so frustrating when you don't know if it's risky, or fine, to swing at something." 

 
Expensive problems have meat on the bone, that you can make a valuable, value-providing business out of.
 
Design your business around those first, while allowing smaller clients to play a role in your business' ecosystem as needed.