How To Identify What Business You're REALLY In | Ep 848

If we think about what the product of this business is, when you're in a service business, the product is the service, meaning the people who deliver the service are the thing you sell. And the margin of the business is the difference between what you have to pay them and what you get to charge for their work, right? And so our acquisition process to scale the business doesn't have to be customer-facing because you've got phones ringing off the hook. There's already tons of demand, there's insufficient supply. The top 1% of business owners aren't smarter than you.

They do things differently. And that's what I'm explaining in this video. I'm Alex Schermozi, I own acquisition.com. It's a portfolio of companies that generate hundreds of millions of dollars per year in revenue. And so I've seen a lot of different patterns across businesses that we both invested and scaled in or some that we turned down.

And so if you feel stuck, it's because what got you from 0 to 100,000 or $100,000 to a million, or a million to 10 million, or 10 million to 30 million. isn't going to be the thing that gets you to the next level. And you're probably working on something that was once very important but is no longer. And so the first thing I'm going to do is share some examples of real businesses that I built where I had to learn this lesson the very, very hard way. And then I'll show you how to correctly identify the core problem for your business today, not what it was last year or two years before.

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