What are you doing right now that gives you the biggest result in your business(es), and what of those things cost the least money?
“Thinking about this can change your business.” Roland Frasier
Listen today if you want to find the quick wins, and work through different ways to find leverage in your business.
Who Is Our Host Roland Frasier?
Co-founder or principal of 5 different Inc. Magazine fastest-growing companies (e-commerce, e-learning, SaaS + real estate), Roland is a serial entrepreneur who has built or sold 24 businesses with adjusted sales ranging from $3 million to just under $4 billion. He’s a mentor and investor and an excellent podcaster too! Read more about Roland here.
Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show and connect us with more high flyers like you.
How To Find Leverage In Your Business
Conversion Matching and Replication
What single channel are you using right now that returns the most in top-line revenue?
What product are you selling that contributes the most to margin and makes you the most money?
“We like to match the highest converting channels to the highest margin generating products.” Roland Frasier
Plus, Listen For,
- What Roland and his companies do to protect against offer fatigue
“And, and it might sound really basic, but I’m telling you, when we go through this, we always find that we have forgotten to put something new on the back of something that’s converting really well. We test a funnel, and it works, and we’re excited. And then we go onto the next thing. But it’s really, really important to take the time to go back and do this kind of exercise, to be sure that you’re maximizing the value in the company.” Roland Frasier
Quick Wins To Maximize Value & Find Leverage
These are things that Roland and his partners have to found to work over and over and over again. If you just go through this list, you’ll find multiples of income from what you’re earning right now.
1. Manufacturing In-House
“Consider it. I know a lot of you might be sourcing products over in China. If you’re doing that, then you are coming close to manufacturing in-house, but there are middle people that you can eliminate that you’re currently dealing with“. Roland Frasier
2. Buying your suppliers
“So all this is is this is what we call in the business, ‘vertical integration.’ We’re collapsing the supply chain by buying people who are higher up in the chain. So if we can consolidate that, then we can pick up the other person’s margin, and that makes more money for our company“. Roland Frasier
3. Buying your competitors
• Listen for Roland’s Survival Life Example
“Horizontal Integration is where we’re going out and buying our competitors. Buying your competitors is one of the fastest ways to grow your business. And I’m going to talk about how you can do that for no money because we buy companies for no money all the time. If you’ve heard of ‘nothing down’ real estate, ‘nothing down’ companies work too”. Roland Frasier
4. Turning cost centers into profits.
5. Franchising.
“So taking the things that you’ve got, your standard operating procedures, the business brand, and everything, and saying, I’m going to give you all my systems, all my brand, even provide you with the product and you’ll be able to do this. This allows you to expand so fast because other people’s money is coming in to fund it”. Roland Frasier
6. Licensing
“We license our intellectual property to other people to, um, to do everything from masterminds to sell products. Okay. That is, that’s a great way to make money”. Roland Frasier
7. Strategic Partnerships & Licensing Other Brands
- Listen for Roland’s Daymond John Example
8. Crowd Funding With Clients
9. Borrowing A SalesForce
- Listen for Roland’s Motorcycle Helmet Example, his Jesse Itzler story, AND the Patron Tequila example.
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Mentioned In This Episode
Ryan Deiss’s 21for21Challenge
Business Lunch with Roland Frasier is brought to you by Scalable Podcasts.
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