Johnny and Youssef transitioned from selling low-cart value online coaching to coaching coaches with a higher cart value, resulting in the same amount of sales calls and conversion but with more serious clients. The power of high-cart value transactions is highlighted with the story of the University of Mississippi.
The podcast discusses how people are inspired by entrepreneurial stories of people like Stacey Brown of Chicken Salad Chick and Jamie Semenoff of Ring, and how these stories can provide motivation even for those not initially interested in business.
The nursing profession has a captive market for uniforms and products, as there is a shortage of nurses, and the scope of the profession is vast. Meanwhile, Barstool was acquired by Penn National Gaming due to its decrease in valuation from maximizing profit, with only a 50% sale at a valuation of $15 million four years ago.
The speaker discusses the advantages and disadvantages of using a revenue share agreement in business, highlighting the benefits of protecting the bottom end and the potential for repayment on the top end. However, they also note that revenue share agreements can create a liability for the business owner if revenue remains consistently low.
The constant ask for more money in the online world was a testament to how much Brian Rose was doing the grift that people couldn't look past. However, criticism towards such grifters can sometimes overpoweringly cancel or hurt them disproportionately.
Many business owners overestimate their revenue and exaggerate their success to others, often to cover personal expenses. It is important to be honest about the true value of a business in order to achieve growth.