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The best businesses start for students where you can earn $1,120 per day in profit,

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not revenue, meaning you're above the 1% earning in the nation. In the wealthiest nation in the

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world, while you're still in school pretending to try and get a degree so you can somehow make money,

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you can do it while you're still in school. And for anyone who's not in school, you could still do

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it only four hours per day. The wealthiest people in the world see business as a game. This podcast,

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the game is my attempt at documenting the lessons I've learned on my way to building acquisition

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.com into a billion dollar portfolio. My hope is that you use the lessons to grow your business

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and maybe someday soon partner with us to get $200 million in beyond. I hope you share and enjoy.

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You can make $1,100 a day working four hours a day with no inventory, no physical location,

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and basically no startup costs. And it was one of the three businesses that I almost started

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before deciding to start my GM. And the business was test prep and or tutoring. So most people go

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about test prep tutoring the wrong way. What they do is they try and get one-on-one clients

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who will pay them $40 to $60, maybe $80 per session. And so the problem is that they're selling time

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and they're not selling an outcome. And so if you want to do the same business model but do it

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way better and make more than the top one percent of the United States, if you want to make more than

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$400,000, you can do it part-time whether you've dropped out of college or still in college,

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you still have a job and you can do it for four hours a day. So here's how the model works.

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So number one is that you don't want to sell tutoring, you want to sell the outcome of tutoring,

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which is to get into either a job that's going to pay more or be able to pass a test of some sort,

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or ideally the standardized test, which in my opinion are the most viable tests that you can

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help some bear for. Because when you get into a better school, either college or business school,

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graduate school, that has a material difference on the network that those people hang out with,

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the companies that recruit from those schools, and the average salary and earning capacity of those

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people. And so you can a very real way tie the increase of someone's test scores to how much

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money they're going to make. All right, if you think about it, college was the original bus up.

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It was the original, anybody can come in and you will make more money as a result of going through

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this training. Now, you can capture a percentage of that opportunity by being a tutor that can help

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people move up tiers. So here's the simplest model that works that's very time constrained that

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anyone can do. Number one is that you don't do one-on-one. You do one to many, but you don't do

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unlimited because you're probably not good enough to do that yet. But you can do semi-private.

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The reason semi-private is one of the most profitable service models is that you can charge probably

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two-thirds of what you can do one-on-one, but you can do it with eight times as many people. And so

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if you have a group of eight students, so you have two, two, two, two on a table, you can very easily

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look over it. It's still a small group setting. They still get the personalized attention,

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but when they're taking problems, you can have them take turn doing the problem versus

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teaching someone on the problem. And that way, they still get the personalized touch without having

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to just sit there while they're doing problems, which is what happens in a one-on-one scenario.

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So you're just more optimized for your time. But from a money math perspective, you charge

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35 bucks. It's cheaper than the 60 that someone would charge one-on-one. And you might be better,

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and that's how you position yourself in terms of how much added value you're going to provide.

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But you have eight people. So eight people means you're making $280 an hour. You do four of those

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hours a day. You're making $1,100 a day for four hours of work. And so if you're one of those

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people who was really good student, didn't know what to do, you could make more doing this than you

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could be doing being a doctor, not have to go to school, not have to take loans, and still have

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your entire day and just work from six to 10. Not bad, right? Now, what's cool about this is that

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in terms of where you do it, you could do it at free libraries when I got tutoring for my

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GMAT, which is the Business School SAT. So I got tutoring. I did it at free library. That's where

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we met to do the tutoring stuff. So like she didn't have to pay for that, and I got to do it

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just at cost, right? And so all you have to do would be to get students that would pay you three times

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a week, and you would need 50 students to do that. That's it. 50 students, three times a week,

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you do the tutoring, or you can do it every day, depending on whatever it is, but either way it

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works out 35 bucks per session per hour, right? And if you wanted to, you could increase the length

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of the session if you so desired and charge a little bit more. It's either way, but I think $35

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a session would be a very nice sweet spot that most people get afford, and you price that again,

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based on the fact that they would make $100,000 more year, $50,000 more year if they go to these

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better schools, all right? So let's walk through the simple math here. If you have eight people

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times 35, that's 280. Four hours in a row, you go back to back to back, you don't even move,

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they come to you. So you got 282, 82, 82, 80, it's $1,100, roughly per day. You can do that seven days

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a week, because let's be honest, you're only working 28 hours, all right? So you literally don't have

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to do anything during the day. You could work a full-time job, you could drive Uber, you could play video

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games all day, and then just do two during four hours. And with that, if you had class A, three times

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a week, class B, three times a week, and then on the extra seventh day is the people that want the

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extra session to catch up, which you could have and they could still get charged for that. But from

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a curriculum perspective, you have a three-day curriculum that you teach to class A and class B

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separately, and then the last day you do is the makeup for those people, but they would still have

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to pay the same rate, but that way they don't fall behind, right? And the beauty here is that if you

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do something like this, it doesn't take a tremendous amount of time and it's a very referral heavy

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business. So as soon as you help one person improve their test scores, which by the way, test prep

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is extremely repeatable if someone does the work. So they did a research study, which is why I wanted

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to get into this business, was that the test scores that people have on SATs and GMATs is directly

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proportional to the number of problems they solved before taking the test. So it's a very clear

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input output equation. So the more problems someone does, the better their scores are. And I love those

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types of equations. And when I learned that one research graph, I bought every single GMAT phone

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book that I could find at Barnes and Noble's and I did all of them. I bought eight books, it was

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about this much, and I did every single problem to all of the books, and that's how I scored above

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Harvard's GMAT midscore. And it took me four months to do that. And so I worked personally four

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hours a day doing problems. And then on Saturday, I would do a test to test my score to see if I

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got better. And what ended up happening near the end is that I would start reading the questions

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because there's only so many ways that they can ask the question. And it's kind of like chess,

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where there's pattern recognition, you just start seeing the board enough times that you're like,

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oh, this is one of those ones where I have to flip this into that. I didn't even know how to do

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the math. I knew how to solve that type of problem. And so you probably haven't played a hundred

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different problem sets in your head, where they just changed the names and the numbers, but the way

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you solve it is the same. And so you just need enough exposure to that that you can ridiculously

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get your scores up because I wasn't a perfect dude. I was a pretty good student. But once I realized

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how to unlock the grade score because this was something that was going to make me more money,

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I was more motivated to be good at this test than any test I'd ever taken, which is why I got some

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motivated to help other people do it too, which is why I started to think about that business.

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So if you are somebody who was pretty good at school, was pretty good at standardized tests,

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this is a really great opportunity that you could make top 1% earning with no capital out of pocket,

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no rental space, no build out, no nothing. And all you have to do is go on college campuses,

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go on high school campuses, put up an a frame, hand out flyers, and you can very quickly get yourself

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your 50 students. If anything, give a couple of sessions for free so you can get lots of people to

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say yes, and then upsell a certain percentage of them. That's it. It doesn't have to be a complicated

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amount. Maybe it takes you six months to build up your student base to be at a thousand bucks

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or eleven hundred bucks a day. And would you rather do that than spend four years in college going to

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debt and not make money the entire time and have to work full time to do that? I don't know,

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your call. But I think it's one of the best business opportunities. It's why I was one of the

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ones I was thinking about doing early on. And if you really want to scale, so this is the two

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or one level of this, is that you can have other people do those things for you because then you

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just get really good at getting the students to sign up and say yes. And then you templatize your

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process for how you get them to do more problems because that's the most predictable way of increasing

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their score. And so then you have a teacher who you can pay 50 bucks an hour. And then you make

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the spread between the 280 and the 50. And many teachers will happily work for 50 dollars an hour.

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And if you really wanted to run really crazy margins, which I prefer to, I like to have my service

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space margins at 80% or higher, which means that my cost per unit would have to be below 56.

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So 50 works there. But that means you could pay good people. They could get. They could make more

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than they're making with the real job. They're happy to do it. The students are happy to pay it

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because it's less than one on one. And then all the while you get to scrape everything off the top

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without ever having risk.

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Most of the nation real quick, if you are a business owner that has a big old business and wants to

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get to a much bigger business, going to $50, $100, plus we would love to talk to you. And if you

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like that, we'd like to hear more about it. Go to acquisition.com and you can plan anywhere on the

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page and talk to one of our team and see if we can help you get there.

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So let's look at this tutoring of the going rate of let's say 60 bucks an hour.

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All right. So if you charge $60 an hour and you're doing one on one, which is the typical

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model that most people will do. If you did one on one, then you worked four hours. You would make a

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total of $240. All right. That's how crazy this is. $240 versus doing one on eight and charging

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$35 with eight people there. You make 1100 for the same four hours. So this is when we talk about

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opportunity vehicles. So this is four and a half times more money per unit of time. And because

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you have this model and not the 101 model, you also can scale this one because you can have

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enough margin to pay someone else to do it and still have the margins to run the business market,

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it's sell, grow, et cetera. Right. Whereas if you were just doing one on one, it's just you trading

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time for money, but with nothing left over. So you're forced to continue to make that trade until

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you decide to stop working. Right. There's no scale in the game because if you needed to pay

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somebody else, the most you would pay if you wanted to keep an 80% gross margin would be 12 bucks.

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Most teachers probably aren't going to go there for $12 an hour, but you could get them to happily

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finish schoolwork at three o'clock, come to your thing at four and then work from four to eight

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tutoring for 50 bucks an hour, 200 bucks. They're probably going to make more tutoring at your

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thing than they do from their main job. And then oftentimes, I'll bet you many of them would say,

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bro, to their other teachers, dude, I'm making 200 bucks a day working four hours a day instead of

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making whatever they make now, 100 bucks a day. I think teaching all the classes they have to

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teach with students who don't want to be there. And so if we're looking at the earning capacity,

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it's four and a half times less money. So you'd be making less than $100,000 a year using the

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exact same amount of time and then ultimately having a higher price thing for people with a lot of

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that session time being wasted with them just doing the problems rather than you actually teaching them.

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In terms of packaging this, I would prefer to get people to prepay because I don't like transactional

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one-off things because it ties it too close to the time I'm spending, but I would work it out so

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that it would be $35 a session. So I could probably estimate, okay, in order for us to increase your

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child's or student or your own score, every 1,000 problems statistically gives you an extra 20

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points. So I don't know that math, but whatever that math would be, that would be obviously a core

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part of my selling pitch. I'd be like, every 1,000 problems is this. And so we have to get you to do

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this many problems, which is going to take this much time. And so I would sell the goal, which is

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how much do you want to increase your test score? So they're like, I would increase my test score by

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80. Then I'd be like, all right, that's 20 times four. A thousand is each 20. So you have to do

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4,000 problems on average a student can do a thousand problems every month. So it's going to take us

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four months free to get there. And right now, given that amount of score, we'd price it at whatever

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the three sessions a week or four sessions a week times 16 or 17. So it would be 35 times four

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times 17. That would be the package price. And if they want to prepay, I would knock five bucks

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off a session. And that's it. And that way I can give them a prepaid discount. So if you're a kid

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who's really good at school or has pretty good test scores, the first thing to do is hit up your

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network, right? All the people that you know, and go knock doors. And I say that figuratively, but

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you ask people, hand out some flyers, and you're like, that's crazy. That stuff doesn't work. It

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totally does. But also, DMing people that are in your high school, because many of them probably

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follow you or you follow them. You know who each other are. And you can say, Hey, do you know

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anybody who needs test prep services? I got this score. And I moved my score from X to Y just

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doing this. And I can, I'm walking people through it so that they can get the same test scores.

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Because I was able to get into a better college as a result of this score. So what's for saying?

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Here's where I was. Here's what happened. Here's the method I used. Here's the outcome of the

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improvement. Do you know anybody who'd be interested? So you're not soliciting them. You're asking

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if they know anybody nine times out of 10. They're going to say, well, me, but it doesn't seem

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pitchy if you're coming at it from that angle of asking for the referral. So I would probably

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use a DM strategy because it's the most, it's super easy. You don't have to, most people are afraid

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of actually talking to people. So I'd probably be behind a computer doing it that way off of whatever

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social media followers I had. And I would also be dimming parents and adults because I have no shame.

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Personally, and if you want to start a business, you should probably get rid of your shame,

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because you're going to get embarrassed. But if you do that, then you're just trying to provide

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goodwill and ask if anybody needs help. Like what is wrong with asking if they know anybody who needs

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help with something? Nothing, just your own fear. So you just ask lots of people. And if you ask

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enough people and say, hey, I'm giving a free session to show how my whole method works. And I'll

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do it for free. And if it makes sense for them, awesome. And what that is is really more of a half

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assessment into a sales pitch. You do a little bit of at the beginning, show them one easy win

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that they can have. They see an improvement. And then you transition like, this is how I teach,

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do you like that? They would see an immediate benefit. And then you can convert them.

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So let's talk promotion real quick. I said you could do DMs, but there's a lot of things you could

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do. First off, I always still adhere to get your first five or first 10 for free. And you're like,

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what do you mean? I have to work for free in order to start a business. Well, welcome to every

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other business where at least you don't have to spend money and time to work for free. Or even better,

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spend money and time and then lose money for the first six months before you even start making

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profit. So boohoo, get over it. So yes, you give the first five to 10 for free and you do that. And if

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you want to, because this is something that they have to do work too, you say you have to do your

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homework. And every day you don't do your homework, I will bill you. Right? So that you have some

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skin in the game. And then they might even like that as a sales point where they're going to be way

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more motivated to actually do the work. And then in so doing, they will get even better test scores.

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And so I love those kind of reverse incentives, those sticks and carrots. And so at the end of that,

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there's three things you're going to ask for them. You're going to ask for feedback on things that

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could be better. You're going to ask them for review or testimonial. And you're going to ask them

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for a referral. All right. There's the big three that you're going to do in exchange for doing

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the work for free. So you're not really doing the work for free. You're doing it for exchange. So

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get over the whole like, I'm not valuing my time. Shut up. So that's level one. You get your first

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10 clients by saying you'll do it for free. That's number one. And if you're, if you're jamming people,

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you can tell people, Hey, do you know anybody's looking for that? I'm looking to start a little thing.

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Here's my test score. Here's where it went. This is the outcome I achieved through my unique method.

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It's going to, I'm taking the first 10 guys for free because I want to get crazy results. So if you

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do know anybody, you can better believe that I'm going to give them amazing results because I need

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them to get great results to start the business. It gives even more incentive to do it. Now, if you get

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more than 10 people who really want, then guess what? You can just start charging, right? Like,

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congrats. You just did it. Now, from there, if you have your first 10, right? Now mind you,

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remember we said we have four classes a day of A and B. So you have slots for 32, 64. You have 64

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people that you can do this billing for. So like, even if you give your first 10 slots away, who cares?

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Right? And if you're doing one on eight or whatever you can say, this is my time. That way, you only

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have to give one hour. So still, you can still decrease your actual cost on doing it with these

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students. But once you have the referrals and the testimonials, guess what step two is you post

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the testimonials, which is here's the score of what it was. This is the method we did. Here's

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the result afterwards. This is the benefit they experienced. Let me know if you're interested to.

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Very simple. Like, this is not, you know, complex stuff. They post anybody who engages, you can

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DM them with a better offer of like, Hey, that was my first 10, my next 10, I'm doing for half

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off, right? Which again, only you know what your price is. So like, you can, you can double your

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price and cut it in half, whatever you want to do there. I make no comment. You can keep always

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doubling and cutting in half as you keep raising your price. Whatever. The point is is that you give

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them some sort of incentive to do it. You can even give them an extra session that day C that's

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there. You give them as a bonus for, Hey, if you need a makeup day, I'll throw that in for free

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pre-pack. So that's a benefit for pre-paying the whole package. And so you would do your DMs

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early to get your first 10. You'd start posting hacks and tips and then you'd interrupt those

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four or five posts of tactics that are actually working to improve their test scores with a testimonial,

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right? So those are not super hard right hooks because they're inspiring for a lot of people,

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people think it's cool. And then you have called actions which drive into your DMs and then you

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can upsell them from there. Beyond that, the other two ways would be reaching out to people who you

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don't know, not just people you do know, and then running ads, right? But this would be most people

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could just do people they know referrals partnering with something else that would make sense. So for

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example, going to sports teams where they need tutoring and saying, Hey, I know some of these guys

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are worried about getting into school. I know they're not trying to go to Ivy, but they need to get

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above an X to get in with their sports scholarship or whatever. You can go to the teams, it spreads

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really quickly and then all the lacrosse dudes or all the hockey dudes could come at the same time

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after practice. And so you can go into little ponds of students or likely candidates and then you

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can go fishing those ponds and bring them in, right? And if you do a good job, the word of mouth will

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spread. So you could do all that stuff that I just said on your own with basically no help and get

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yourself to a top 1% earning income, which is better than anything you're going to get after college

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anyways. You could do it in six months without risking the money, the time, and the debt. But if you

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wanted to go super sad and you want to go God mode, you can do four teachers rather than one,

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and they're now getting paid 50 bucks an hour. You're still making your same 280, right? But you're

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making 1100-ish per hour because you got four guys working. So at the end of the day, just that

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half day, four hours with four people working, you're making 4400-day and you paid each of them $200

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each. So $800 off 4400. So you're looking at 3600 a day. Does anybody know what it takes to make

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a million dollars a year in income? Survey says 3300 a day. You're at 36. Guess what? You now make

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a million dollars a year. You're more than above the top 1% and you do it with four employees that

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are part time and some hustle. Business doesn't have to be hard. You just have to think through the

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math and be willing to be embarrassed and not judge yourself based on six months of work, but judge

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yourself against four years of not working and the debt and the time that you would have gone into

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the alternative that you were considering. So if you were all of a sudden for whatever reason,

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cool with doing college in order to increase your earning capacity and spend 100 grand on four

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years plus not making money for those four years plus living and food and all the other stuff,

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just compare that apples to apples. If I just did this one tutoring business for four

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straight years, hustled the way that we just did, promoted it like hell, gave the first 10 away

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for free. Do I think that four years from now I would be better off than the $100,000 of debt and

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what I have more savings after four years of doing this business than I would at the college.

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Buy that probably.