Josh Spector of the I Want to Know podcast provides advice on how to build a successful business from scratch, including how to focus on service over product and how to rebrand as the business evolves.
00:00:00 Josh Spector of the I Want to Know podcast discusses how he would approach starting a business from scratch if he had to do it all over again. He advises focusing on higher-priced services rather than lower-priced products in the short term, in order to reach a six-figure income as quickly as possible.
00:05:00 The individual suggests that in order to make a business from scratch and make a hundred thousand dollars a year, they would need to charge on average 8300 dollars per month, and have a service that is an ongoing retainer client. They also suggest selling a service with an upsell that capitalizes on leads that cannot become clients.
00:10:00 The speaker suggests that, in order to make a business from scratch and reach a million dollars in revenue, one should consider getting a job and starting with a lower goal, such as reaching ten thousand dollars in revenue.
00:15:00 The author recommends focusing on service over product when starting a business, and seeking out a case study to prove success, as well as taking a cut of any additional revenue generated.
00:20:00 The speaker says that every business is in a constant state of evolution, and that rebranding is important because it reflects the type of business that is being operated. He also says that he views his brand as what he does, not what he says.
00:25:00 Josh shares that he has always been deliberate in what he does, and that as he narrows his focus, his brand and niche also narrow. He talks about how this has played out for him in the past by defining his audience as creators, then as more entrepreneurial creators, and finally as just creators.
00:30:00 Josh shares how his perspective on branding has evolved, from thinking that "brand" was simply a new name for "product", to now understanding that the brand is created by the choices made by the individual. He provides an example of how this perspective has affected his work as a consultant and creator, with more focus on creating value for the audience than on promoting his own work.
00:35:00 Josh Spector provides advice on how to build a successful business from scratch, including advice on how to get on his podcast as a guest.