10 Ways to Improve Your Top Line Revenue
Business Lunch
Could you use some freakishly effective marketing hacks that are easy to use and have been proven to work? We thought so. On today’s episode, host Roland Frasier shares 10 simple ways you can make more money on the products and services you’re selling just by making a few small tweaks. Want a sneak peek? Hack #2: friendly forms. “Friendly forms boost conversion,” Roland says. “Don’t ask for too much information. At the very beginning, keep your forms lean and simple, and watch your conversions go up.” And Hack #6: use UGC (user-generated content) photos to bump...
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Dealing with Business Breakups and Failed Partnerships
Business Lunch
You can’t always avoid a business breakup, but if you set things up right at the beginning, you can part on good terms. On today’s episode—“The Business Breakup Special”—co-hosts Roland Frasier and Ryan Deiss have a candid conversation about partnerships gone bad. They share two real-life examples that happened recently—one where they got broken up with and one where they did the breaking up. You can’t let the fear of failure keep you from partnering with other people, Roland says. “Things aren’t always going to work out, and that's okay. If you’re not trying...
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10 Ways You Can Pivot Your Business
Business Lunch
How could you leverage a pivot in your business to make more money, get yourself out of a challenge, or move toward a better opportunity? On today’s episode, host Roland Frasier shares 10 major pivots you might want to consider for your business in the near future. What are some different directions you could take your business that could be more profitable or achieve some other objective? Maybe you want to be more environmentally conscious or build a better culture. Maybe you want more sales, at the expense of profits, because you want to grow your business now and worry about...
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4 Steps to Acquiring Businesses with Zero Cash Out of Pocket
Business Lunch
No cash out of pocket deals aren’t the same thing as no money down, and they can be win-win deals for both the buyer and seller. On today’s episode, host Roland Frasier talks about how to think like an investor. Some people think there’s always a loser when you do a deal, but Roland doesn’t agree. He has a philosophy of collaboration and what he calls a fairness zone. He believes it’s possible for both parties to walk away with a situation and a deal they’re happy with. In a no money down deal, the seller leaves the closing with nothing to show for it. With no cash...
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Dealing with Negative Criticism and Haters
Business Lunch
When you put yourself out there online, the haters are going to find you. How do you keep them from getting under your skin? In today’s episode, host Roland Frasier shares honestly about some recent critical feedback he’s received on his paid ads online. If this were constructive criticism, that would be one thing. But some of it has been hateful and hurtful comments—about his intelligence, his motives, and even his facial features. There’s never success without criticism. Roland encourages you to understand that this hate has nothing to do with you and everything to do with the...
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Marcus Lemonis on Capitalism, Community, and Camping
Business Lunch
Get up close and deeply personal with one of the most brilliant entrepreneurs on the planet in this no-holds-barred interview. Today’s episode is a conversation Roland Frasier had with Marcus Lemonis, CEO of and host of the hit TV show, , at in November 2021. Marcus is known for looking at the 3 Ps—people, product, and process—when he’s evaluating a business to invest in. Of those 3 Ps, he says people are by far the most important. In this chat, Marcus gets real and vulnerable, opening up about his social anxiety, his childhood wounds, his biggest regrets in life, and how...
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Why You Need to Stop Trading Time for Money
Business Lunch
You can’t build true wealth until you get out of the trap of giving away your time for money—no matter how much money it is. On today’s episode, Ed O’Keefe interviews Roland Frasier about one of Roland’s favorite topics—consulting for equity. He has even started a new business to help experts and consultants get out of that dollars-for-hours trap. As Roland sees it, there are a lot of ways you can be compensated for something. He explains those ways in five levels that build on each other. Based on years of experience, he knows that one of the absolute best ways to create...
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The Different Ways to Value Your Company | Mergers and Acquisitions Advice
Business Lunch
“What is my company worth?” That’s a big question with a lot of answers. In today’s episode, host Roland Frasier walks us through a few different ways to value your company. Last time he checked, there were 432 different ways to do this. Don’t worry. He’s only going to share a handful—and he’ll tell you which one he thinks is easiest (and he uses most often). It can be overwhelming when you consider book value, market value, intangible assets, goodwill, and acronyms like IRR, SDE, EBITDA, and ROI. Thankfully, Roland is really great at breaking down difficult...
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The Ultimate Marketing Engine with John Jantsch
Business Lunch
The Ultimate Marketing Engine with John Jantsch Tactics and strategies are not the same thing, and only one of them is an effective long-term plan for getting your customer to where they want to go. In this episode, host Roland Frasier sits down with John Jantsch, Founder of and the author of the book by the same name. Duct Tape Marketing is one of those books Roland believes everybody should read. It’s in his all-time Top 5 and “fantastic.” John recently released a new book called The Ultimate Marketing Engine, and it’s filled with actual strategies (not tactics)...
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Consulting for Equity: How to Double Your Consulting Fee
Business Lunch
Would you like to get paid your normal rates but also an additional amount in equity? Today’s episode is a little bit different, because it’s taken from a coaching call Roland Frasier did with a Consulting for Equity Mastermind. The Mastermind is a group he started to help consultants get equity in the companies they’re working with while also getting paid their normal rate. Listen in as he walks someone through how they can get their normal consulting fee of $75k but also get an additional $125k in equity. Getting What You’re Worth He’s talking to...
info_outlineWhen you’ve taken your business through all 7 Levels of Scale, it’s time to live your very best Level 7 life.
In previous episodes, co-hosts Roland Frasier and Ryan Deiss walked us through the first 6 levels of their proven and powerful framework, The 7 Levels of Scale. In today’s episode, they’re discussing Level 7, Hit Your Number. This concept is near and dear to their hearts, so much so that they created a whole company, a whole book, a whole movement around these 7 Levels of Scale. And Level 7? Is the absolute most fun of all.
First make sure you’re all caught up on Levels 1-6:
- Level #1: Sell and serve 10 customers.
- Level #2: Build a growth flywheel.
- Level #3: Build an upgraded scalable operating system.
- Level #4: Double your take-home pay.
- Level #5: Build your advisory board.
- Level #6: Complete an acquisition for expansion.
- Level #7: Hit your number.
Then listen in to hear all about the fun, freedom, and opportunities that await you in Level 7.
What Is Your Number?
When Roland and Ryan are talking to new clients about the 7 Levels of Scale, one of the pre-steps is to have them answer this question: What is your number?
There are actually two numbers at play here. First, you’ve got your personal number. What number do I need to hit to feel like I’ve “made it?” Then there’s the number for your business. Your personal number for your desired ultimate wealth is completely different from what you’re likely to get this business to do. It’s important to have an understanding of both.
For the context of the 7 levels, what’s that number for your business where you’ve maxed it out to its optimal level?
Breaking Your Business Number Into 3 Numbers
Roland and Ryan have their clients think in terms of three-year planning cycles. Three years is a sweet spot—long enough to do something truly meaningful, but short enough to be somewhat predictable and tangible. Over the next three years, what do you want your numbers to be in each of these three key areas?
- Top line sales
- Bottom line profit
- Enterprise value
All of those numbers are very figure-out-able, and Roland and Ryan expertly walk clients through each one. Obviously, that third number is a function of the other two. They call it going top to bottom. If you can take today’s top line revenue, and in three years from now, that’s actually your profit, then your company’s value can go through the roof.
3 Levels of Impact
After you figure out what you want your top line sales, bottom line profit, and enterprise value to be after three years, the next area you’ll look at is impact. What impact do you want your business to have on your personal life? On the lives of your family and inner circle? And on the world at large? You can divide it into 3 spheres of impact:
- me
- us
- them
As you think through each sphere, get really specific about what you want. Do you want to send your kids to college debt-free? Do you want to buy a house for a parent? Do you want an annual European vacation with your partner? Do you want to write a check to a charity for a million dollars?
As far as your impact on the world at large, this idea is front and center in the world right now. Companies are being asked to take a stand socially for what’s right. There’s a whole movement called ESG (Environmental, Social, and Governance) that you need to be aware of, no matter what industry you're in. How will you make environmentally-conscious business decisions? What causes will you support? How will you make sure you do no evil?
Across those 3 spheres, what’s the me/us/them impact you want to make, and will you be able to make it happen with these numbers? They need to align. Everybody wants to make an impact, and that’s great, but you’ve got to get through those six levels first. It’s not that you can’t give generously during those first six steps, but the big impact happens when you hit level 7.
You Hit Your Number. What’s Next?
Once you hit your number, you’ve got some decisions to make. Do I want to sell everything and start over again with another company? Do I want to intentionally move the goalposts and reset for another 3 years? At level 7, you get to choose. Your customers aren’t dictating it. Your team, your investors, the government isn’t dictating it. You get to live your level 7 life however you want.
This is when you ascend from the entrepreneurial operator category (in the trenches) to the entrepreneurial investor category. Or as Roland describes it: “situations that have a complex set of rules where you apply facts to them dynamically to get the outcome you desire.”
You’re no longer in the weeds of your business; you’re above it. You don’t have a portfolio of products and services to manage; you have a portfolio of businesses to manage. This is your opportunity to gain incremental wealth. You can continue to acquire businesses that serve the businesses you have or you can get into new businesses. You can help yourself and your family, contribute to causes you care about, and build generational wealth.
Ryan doesn’t think there’s a giving formula, but he does believe everyone needs to give. If you’ve built wealth at Level 7 and you’re holding onto it with a closed hand, he sees that as immoral. Roland adds that giving of your time can be incrementally more valuable than even giving money. So what percentage will you allocate to giving?
Then what percentage will you blow off and not feel any guilt whatsoever? How will you celebrate this big win? Because that’s important too. Ryan believes that having your giving and your celebration money aligned is a great way to do it.
Then, where can you invest the biggest chunk? You can invest in some purely passive things. You can invest in some stupid ideas you just want to play with. But, as entrepreneurial investors, your most serious investment should be in other businesses. For three reasons:
- It’s a way to give back
- It’s a way to stay in the game
- It’s how you continue to live out the skills you’ve acquired
The bottom line? It’s totally and completely up to you. That’s the beauty of the Level 7 life. Freedom to do whatever you want. Get there, then go out and live your best Level 7 life.
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