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Big shit takes time and I had to learn that like I want you to feel that because it took me a long time to learn

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What I see happen all the time with entrepreneurs especially when they apply to acquisition.com

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You know they've got a million dollars in profit

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Maybe it's the bare minimum for us to consider for investment and they're like

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Here's my idea for how I wouldn't expand and how I want your help

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I want to start all these new product lines because I've already saturated my market because I'm spending

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$50,000 in Facebook ad and I can't spend anymore than I currently am otherwise

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I lose the profitability ads

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So I'm going to start selling more and different offers and add massive complexity to my business that only makes

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$3 million top line per year that is a mistake and in this video

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I'm gonna walk through why and the reason this is so important is because many people hit this first plateau and then think oh

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I should start a new business. Oh, I should start a new product line when really they need to confront the problem ahead

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Which is they don't know how to get more customers within their current niche or space your market isn't capped your

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Mindset is capped what I'm gonna do is break down the three different frameworks

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I used to think through this so that you are never capped in whatever market you go after number one from the marketing

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Perspective you have your method which is the biggest thing you do it's running paid ads

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It's making content is doing outreach. It's getting referrals. It's getting affiliates

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Those are the methods that you do to get customers underneath of that you've got the platforms that you do that method on

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You've got Facebook you've got phones email cooloo YouTube you've got Google at underneath the vet

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You've got the media on the platform. So if I'm on Instagram. I can go Instagram DMs. I can go Instagram stories

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I can go Instagram posts. I can go Instagram reels. I have all these different media within the platform

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One level below that is how much volume am I doing within that media?

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Am I posting one story a day one story a week multiple stories a day multiple posts a day

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So like that car practice agency if there are a hundred other agencies that market to car practice and they're all marketing on Facebook

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Then you could probably add up all of the ad spend of every one of those agencies together

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And that just gives you an idea of how much there is available in terms of numbered new clients per month

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That all of them together are selling just on Facebook ad rewind real quick

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If you're trying to pick what market you're going to go in I talk about this in my book

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I don't really all offers there's four things I want to look at number one are they in pain am I actually solving a problem for someone

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Number two are they easy to find because if I can't find them I can't sell them right number three

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Do they have the money to spend in order to buy my thing because if I'm trying to sell to broke people

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It's probably not going to be good idea number four are they growing?

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I don't want to be selling to newspapers

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I want to be selling to something like old people that are there's more of them every single day that are retiring

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If I have a market that checks all four of those boxes then I know I'm at least in a good opportunity

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Now once I have that in place and I looked at the four variables that I talked about earlier

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Can I do a new method? Can I do it on a new platform?

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Can I expand a multiple types of media within the platform on curly on?

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Can I increase the volume that I'm currently doing in the mediums that I have?

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These are the things you could do immediately to get more customers get more leads today

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Let's say you've capped all of those things which is probably not true

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But let's say you did because we're going into fantasy land here

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I'm going to introduce you to what I call the pyramid of markets

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There are five directions that you can go in any marketplace to expand

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I'll tell you a story of when I learned this

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I went to this meet up with eight entrepreneurs

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Together we were doing five hundred million dollars a year in revenue

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This was like a multi billion dollar room which is kind of cool

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And I was one of the smallest guys there

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I think I was doing 30-ish million a year at the time

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And they were talking about their businesses

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I was like these guys aren't smarter than me

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And I didn't feel like they worked any harder than me

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I was like why are they making so much more money than me?

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Two main factors

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Number one almost all of them had been a business longer than me

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Big shit takes time and I had to learn that

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Like I want you to feel that because it took me a long time to learn

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All right, there's not many billionaires under 30

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That made it themselves like 10 in the whole fucking world

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There's not a lot of them and fact checkers maybe it's 20

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It's not a lot the second lesson that I learned

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Is that all of them were going after bigger markets than I was

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Because at a certain point you do saturate a niche

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And I'm going to give you context to what that means

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So Jim wants us a licensing company

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We specifically at the time only focused on microgems

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Now we do health clubs and microgems because they expanded the market

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Within that pie there was only 50,000 microgems in the United States

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We'd already spoken with 20,000 of them

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We had absolutely have really maximized every media, every channel

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We call call, we call to email, quote to you

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We run ads on Google, we run YouTube, we run some Facebook, we run some Instagram

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We make content like we do all the stuff

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And we have really done a good job building a market leading business there

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But again, it wasn't as big as theirs

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And that's why we decided to open up another avenue

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Now let me tell you about why we decided to do health clubs

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So when we looked at our adjacent markets

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We could have gone down market to personal trainers

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We could have gone up market to health clubs

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We could have gone to physical therapists or chiropractor

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It was actually very similar

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Or we could have gone more narrow

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Those were the directions we could have gone in

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I asked our team one question

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I said of these different potential avenues or avatars

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That we could pursue

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Who do we provide the most value to?

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By dollars made

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It was no contest health club owners

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We were able to immediately make them like

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Hands of thousands of dollars within the first like month

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By restructuring some of the things that we could do within their business

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And then doubling or tripling

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Their bottom line by reorganizing their onboarding process

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Reorganizing their sales process

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How they handle retention and how they handle up sales

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So if you deal with hair salons

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Maybe you sell consulting service

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You sell to salon owners

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That's your current market

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You can go in five directions

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Number one is you can go up market

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That means on the pyramid

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There are fewer people on the higher part of the market

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And they cost more but they spend more

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Typically higher quality customers

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That's where you go into enterprise sales

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We're talking franchise zores

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As in people who have hundreds of locations under one umbrella

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Or multi location or chain owner

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That's up market for salon owners

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Down market the second direction you can go

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Is you go to hairstylist

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You talk about people who are renting chairs

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And doing hair with their hands full time

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Not running the business

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There's ten times more of them

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The third direction you can go

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Is you can go adjacent

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So what's something that's similar in nature

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But not exactly safe

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That would be like a lash and nails place

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But if our car tractor

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It might be physical therapy

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Like they're similar but different

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You want similar business characteristics

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Similar avatar in terms of the owner

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Similar types of customer

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Within the same larger industry

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When you do that

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You just open up another vertical

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And you attack it the same way you did your first one

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The fourth direction you can go

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Is you actually go broader

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Now imagine a pyramid that's all the way like this

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And it includes all the adjacent pyramids within it

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Which would then just be beauty

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So that includes Med Spa owners

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Lash owners

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Massage studio

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Like all of that kind of falls in the same

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Psychographic they serve the same customer

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So that would be going broader

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If we wanted to really open up the net

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The last direction you can go

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Is the only one that makes your market smaller

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But it doesn't necessarily mean you make less money

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You could become narrower

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Instead of just being all salon owners

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It might be salon owners who specialize in extensions

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Or a blow hair place

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You know they just do the Brazilian blowouts

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Like they're just doing that specific thing

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Oftentimes when you do niche down

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Sometimes you can still make more money

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Because if you're not even close to tapping

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The method, the platform, the media

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Or the total amount of volume you need to do

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To reach all of those people within that niche

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And so then when you niche down

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Become more specific with your messaging

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Your offer and the value deliver

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Because if you can make this one specific avatar

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10 times more money than the broad avatar

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You should absolutely niche down on that

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And we've done this with companies

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And doubled or tripled

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Or sometimes 5x the revenue business

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Despite cutting down who they market to

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By like 85%

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By getting really specific

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About who we serve best

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Big picture zooming all the way back out

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If right now you're not getting as many leads as you want

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And you think that your market is saturated

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Because of what you do

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You should be looking the way an investor looks at the marketplace

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And says this is a 60 billion dollar industry

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I have not even one percent of this industry

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My whole point here is

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You have your four initial levers

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That you can immediately pull

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To grow how many leads you get

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And you probably haven't even done one of them

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Do one of them

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Do another one of them

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And then eventually try and do them all

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Usually there's this big checklist

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That you probably already know as an entrepreneur

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Of what I call the should do

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I know I should be calling my leads spatula

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I know I should be following up better

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I know I should be making more content

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I know I should start a cold call thing

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I know I should be running ads on more platforms

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But you're not

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And if you're like man that's going to take a long time

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Welcome to the main point I had originally

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Which is it takes time to build big shit