Ep 145: 6 to 7 Figure Scaling Strategies I Lived By In 2021 To Grow Multiple Business

How would you like to know how to grow your business? Hey, this is Jaryd Krause, host of the Buying Online Businesses podcast. And in this episode, I'm doing a solo episode talking about five business strategies, lessons, and philosophies that I live by in 2021 that allowed me to scale my business and my clients' businesses from six to seven figures and even seven to eight figures. So throughout this podcast episode, I'm going to talk about how to create leverage as a buyer.

As a buying and acquisition strategy for a business and how to win the respect of the seller so they choose you over the competition. I'm also going to talk about how to make more money just by having conversations with people in your business, how to actually start those conversations, and what those conversations should look like. I'm going to cover how to have a macro vision in business as well as in life so you can set yourself up to win where most people actually set themselves up to fail unconsciously, and I'm gonna show you how to actually avoid that and I'm also gonna start discuss hard work now gonna talk about hard work and when you should actually do it and when you shouldn't do it And there's always a time and a place and honestly most people are doing it all wrong.

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The first thing I want to discuss is respect. And you're probably thinking, Hang on, Jaryd, why do I want respect? Well, let me start off by saying that respect gives you leverage. And why do you want something in life, like buying a business, that helps you actually have leverage so you can get a better deal? And the same goes with so many different aspects of life, like dating, business deals, or anything else. This relates to a lot of different areas of life. So the more leverage you have, the better. Better yet, you can make a deal for yourself. Most people think respect is earned, though. And in a way, it is. But in 2020, I came to the huge realization that respect can be earned. And yeah, you can actually buy respect.

And the currency you actually pay for it is leverage. The leverage that you have created and how that leverage buys your respect is that it actually makes an impression. So that's what we need to do is we need to make an impression to help you gain respect. And this is hugely valuable for those of you who are looking to buy a business or looking for you to, you know, win some sort of business or deal or win something, gaining respect really does help. So let me give you an example when you go to buy a business and, you know, it comes to the time that you, I have to put it off, put it down on a business, or negotiate. It helps to gain the seller's respect. So usually, when buying a business, you have no leverage. right?

Because you're in a pool of competitive purchases, you can create some leverage. And that's what we want to do. So how is this done? It's done by making an impression. How can you make that impression? Well, it's easy. We need to do great work. We need to do great due diligence. We need to ask amazing questions. We need to show the seller that you actually know what you're talking about when it comes to their business. So you have to do your homework. You put in the work to impress them, which can gain their respect.

And then when you talk to you as the buyer about the business that you're looking at buying, compared to when you talk to someone else who's fumbling around with their due diligence, hasn't done the homework, is dropping the ball, and doesn't ask very good questions. And the seller can actually see that that other person, that other prospect who's looking to purchase the business, just doesn't care about their business and hasn't done the due diligence as much as you have or as well as you have, and they just don't hold the business that they're looking at purchasing in a higher regard compared to yourself. So if you put yourself in the seller's shoes and they've spent all this time, money, effort, and energy building this business up, who are you most likely going to want to sell the business to? Of course, right?

So that's you, because you know the business well and have proven this to them. Also, knowing that you know what the business is worth, you've done your homework and know what the business is worth. So when it comes time to put an offer down on that business, the seller is most likely going to respect your offer over someone else's, who may even offer a higher amount for that business. But also clearly doesn't care about the business.

Or know the business as well as you do because they haven't gone through it with a fine tooth comb like yourself. So this is how you can gain respect. This is how you can buy respect and get leverage in a deal by actually knowing your stuff, improving it, and making that impression. You end up completely flipping the script when it comes to putting down an offer and doing a negotiation on a business. This is what I like to teach people when they join the online business, and it's a philosophy that can be used in every area of life, like dating, for example.

For example, you want to ask somebody for their phone number, right? Or what you can do is get leverage over, say, the competition, somebody who may be actually more attractive than myself or yourself, but they may not care about the person. They just want to get their number, and they have an agenda for themselves, right?

You can prove to them or show them that you're a smart, funny, humorous person who actually makes them laugh and shows them how to have a good time. So of course they're going to give you their number over somebody else who just doesn't care about them, even though they may look semi-attractive. So what I'm saying is that you can make this work for yourself in so many different areas, not just in, like, obviously, dating and buying a business, but you know, when you are looking to get business marketing in different ways.

There are so many things, especially with marketing, where you see so many people throwing out videos, not caring about people, showing how much money they make, and putting their egos on a pedestal. These people don't care about you. They don't care about the results that they're getting for you. They care about how much money they can make from you. So this is an important skill and philosophy to actually understand, not just when you're in business relationships or dating.

So to gain leverage, that's how you can do it, is to win respect, and how you do that is to make an awesome impression. So the second sort of strategy that I went heavy on in 2021 to grow my business and my clients' businesses is email marketing. Email marketing makes up, if you do it well, the largest portion of your business's revenue.

Email marketing works really well. What I learned through email marketing in 2021 was to jump into a few different email marketing communities, do different courses, and learn about email marketing. But the reason why email marketing works so well for myself and my clients' businesses is because what you're doing is creating a relationship with people in your business. And how do we make more money? The answer to that question is trust. Gain trust.

The answer to that is building relationships and connecting with people. And how can we do that? We do that through email marketing. Now, you can do email marketing really well, or really poorly. Most people, and I would say 80, probably 95% of people even, do email marketing really poorly or not at all. They'll treat email marketing like a tool to be used to sell to people.

Email marketing should not be used to only make money from people. Email marketing should be used to build relationships and a connection with people that are in your space and your audience to see if you're a good fit for them. And you can start to win over their trust over time by emailing them great content, not by selling, selling, selling to them in every single email that you send. Okay. So this year, I started sending emails to my list and started getting better at writing emails. They're short emails, they're quick, and they're to the point.

Their story is about me, shark attacks, my surfboards, you know, smashing my face in, funny things like sprinting and exercise, down to, you know, some in-depth discussions around business growth and purchasing. So there are a lot of cool things and, you know, philosophies that I use in my business and in my life that cross-pollinate, including property investing things, but I have been getting a lot of replies and emails back from people telling me that they absolutely love my emails. They love being on my email list because I started working on my email marketing.

And that has also helped my business grow through email marketing. It's also helped my clients businesses grow by building out great email marketing processes and great email marketing sequences in their businesses. And that's not just content businesses.

So email marketing has been one of the platforms that has been the biggest revenue generator for a lot of us, myself and my clients, in our businesses in 2021, just by harnessing how to build relationships with people within our audience and within our community to be able to give them a better Answer and a better way to solve their problems And better solutions throughout email marketing, and then that can win the trust over which we can build up our revenue. So I think email marketing has been poorly done by so many businesses.

And if you're not doing it, you should be doing it. And if you're not doing it well enough, I think you should be working on this because it can be a tool and a platform that you don't put any more money into but can make you a whole lot more money on the back end. So email marketing is the second thing I want to talk about that I really worked hard on with myself and my clients in 2021.

Now, what does mindset actually mean? I want to talk about the mindset of hard work versus working smart. What I've realized, and I realized this early on as well as in the last sort of three years, because I used to work really, really hard, is that hard work isn't always the answer. Sure, you should do hard work, but you shouldn't only work hard to get something done. It should be a sprint, not a marathon.

Instead, what some people do is realize or believe they have bought into this belief system that doesn't serve us very well is that we need to continue to work hard over many, many years. That's not true. We don't have to work hard over many, many years. Instead, working smarter helps us get better leverage and make better decisions. And I have this discussion with so many people in so many areas of my life, not just business.

I'm talking about many different things. So instead, having a well thought out strategy to execute within a reasonable timeframe and not killing yourself to get there will often get you better results, okay? We're designed to do our best work when we aren't burned out or overworked. So what I suggest people do is create a long term strategy that gets them the result that they want without having to work more than 40 hours per week on it. And I actually tested this out, and I had this conversation on the weekend, I found out for myself that the less I worked, the better I worked. And usually, the more money I make, the more I'm refreshed, have better ideas, and create better work.

So the test that I have done in the last few years is working out how I can, instead of filling my time with work if I have spare time, fill my time with activities that give me a lot of fulfillment, like more surfing, playing tennis, exercising, and educating myself.

Filling my set, filling my time, all my time, not just with work but with those other things, including relationship time with my partner. It has allowed me to relax, rejuvenate, and spark other ideas that have helped me get bigger wins than what I would have gotten if I had just continued to work really, really hard. Right. Now the whole working hard thing, in my opinion, is a myth, right? Unless you're doing it just as a sprint.

Honestly, in my opinion, this is not sustainable. So please don't think that you need to work hard just because you think you need to. Instead, use your head, create a better strategy that allows you to work less and get better results. And I'm going to repeat that again. Create a better strategy that allows you to work less and get better results. And how you can do this is by ensuring that you have some downtime, and some free space. And that's a critical word.

Free space to drum up creative ideas that can be better ideas to get you to the results or goal that you're actually looking for. And then instead of working really hard on that strategy, that idea that you had was to create that strategy into a system and a process that can be automated through software or through people that can get your result without you having to continue working on it more and more and more and working really, really hard over a long period of time and burning out.

What I want to say about the mindset of working hard versus working smart is that I kind of just want to depict what my thoughts and processes were on the subject of working really hard, how I've sort of started to debunk the working hard myth, and what I have done in my life that has been able to suit me and get better results whilst working less but earning more. So that's the third one. The fourth is YouTube.

Big for not just myself in in 2021 but a lot of my clients as well starting YouTube channels and growing YouTube channels and what I've realized is that podcast is an amazing platform to provide value and solutions to people which is what I'm doing right now it also helps me build my relationship with you as the listener and that helps me build trust and connection with you which is really cool.

Also to add to that, YouTube has been a great winning strategy, not just in my business, but for other businesses, to give solutions to problems, provide awesome value, and also build relationships and networks with people and connections, which has helped people build trust in their businesses, which has helped them make more money as well. The reason I think YouTube has been really good in 2021 and will continue to be so is because it's something that you should be looking at in your business if you're not thinking about it, and I'm not having to just do talking headshots like I do in my videos; you can have somebody else create the videos for you.

It can be animated videos, it can be all B-roll and it can have a different voiceover if you'd like. If you have a content site that you're not the face of or a business that you're not the face of, I should say. Now, the reason I think YouTube is doing really well and will continue to do so is that more people are consuming video than anything else. And it's going to continue to happen. And YouTube is the second largest search engine next to Google.

We've already heard that you know about this. We've all heard this before, but I've watched YouTube channels absolutely blow up across all niches, not just entrepreneurs and business space, but I'm talking about fishing cars, so many different cool niches out there where YouTube channels have absolutely blown up. So if you're not considering a way to provide great content and solutions and connect with people in your niche, I think it's something that you should certainly consider.

Now, if you're not already, make sure you go to the show notes of this podcast episode and follow me on YouTube. You are definitely not going to regret it. Also, it's a quick and easy way to contact me, chat with me, and ask me questions. I'd often ask people to go ahead and email me at jaridobuyonlinebusinesses.com and start to build up a bit of a conversation there, but a lot of people do that on YouTube as well.

So if you're not doing that, come and join me on YouTube. It's Jaryd Krause. If you just type in Jared Krauss, you'll find my buying online businesses channel there. Last but not least, this is a big one. This is a philosophy that I'm going to continue to live by. And I think it's a philosophy that a lot of people—every single person in the world, sorry—should adopt.

Based on how much social media we consume and what that actually does for our brains and our health, our mental health. And the philosophy is that a lot of people are trying to get results really quickly and want to achieve X yesterday. And everyone has this; we put this pressure on ourselves, this huge weight on our shoulders, to try and get these results.

Within a click of a finger. That was me for many, many years, and sometimes I still fall victim to this. But the philosophy that I want to share with you is that time is with you, not against you. I'm going to say that again. This is my philosophy. Time is with you, not against you. So I feel like what we all need to do is just stop trying to achieve things by tomorrow.

I think we should all give ourselves more space and more time, and we'll give ourselves the justice that we deserve and the space and time we need to do a better job and get greater results. So we often underestimate, and you may have heard this stat or this quote, and I heard this a long time ago. We often overestimate what we can achieve in one year but underestimate what we can achieve in three years, or it could be done in 10 years.

Estimate what we can achieve in 10 years. Oh, sorry, we often overestimate what we can achieve in 10 years, but underestimate what we can achieve in 30 years. So I'm going to stick with it for one year. We often underestimate what we can achieve in one year and underestimate what we can achieve in three years. Now, the reason I'm going to stick to this is because a lot of people have the view that if they try and do one strategy within one year or try and make money online within one year, they can often overestimate how quickly they can go away and achieve a result.

And if they cancel that or just bail on that in one year and they haven't gotten results, if they stuck with it within three years, they would have underestimated how much they could actually achieve online. And that's so scary. For me personally, it took me way longer than a year to make any money online, and I was working hard. I was working like 40 hours a week on websites, on one website in particular, to get a great result. I should say 20 to 40 hours a week, and it would change over time. Sometimes I'd work more, sometimes I'd work less, but I still didn't really get a result in terms of income.

So we really need to consider this. So it takes a macro view, not a micro view. And when you're looking too closely at something, you get caught in the thick of it. When you become fixated, you become tired and stressed and can't see your way forward. What I would like people to do is zoom out, zoom up, and zoom over the situation to give themselves a better perspective and realize that they don't need to have it all right now. Right?

I need to have this done within a year. All right, time is with me. Then we can actually relax and realize that if you are on the growth path, time is actually with you because of this magical thing called compounding. So let me break this down and give you an example. Say someone has a business making $1,000 per month, and you want to get your business from $1,000 per month to $10,000 per month, or whatever you want to do.

You can add zeroes; you can go from you want to get it from 10k per month to 100k per month or a mill to 10 mil; it's all the same, but let's stick with you want to get a business from a thousand dollars a month to ten thousand dollars per month, and what most people will try and do is make that happen within one year because they've seen someone else online posting I'm making you know twenty thousand dollars a month now you know only took me one year to do or four seconds, whatever the silly vanity metric is, so they'll see something online or someone else achieve something.

And this happens unconsciously, usually subconsciously. We see this; we can either get envious or we can get excited, but subconsciously we go, Well, why not me? I need that, and I want it now. So what most people try to do is try their hardest. They work their asses off. And if after trying to achieve the same result, and if after one year they aren't close to $10,000 per month in their business, they consider the whole process a write-off and can I consider it a failure and just completely give up? But what if, what if that person just went from growing their business within one year from $1,000 per month to $2,000 per month?

Maybe not $10,000 per month, but they went from $1,000 to $2,000 per month. That is a massive, massive win. In fact, they doubled their business in one year. That's a 50% growth. That's absolutely awesome. And if they doubled their business every year moving forward, It would take three and a half years to get to $10,000 per month. Instead, what most people do is consider themselves failures, stop, and go. Oh, this online business thing is not for me. No, I've tried it for a whole year. I dedicated a whole year to this, and I couldn't get my $1,000 per month business to $10,000 per month. I'm no good at this. I had to leave. I've got to go try and, you know, do crypto, day trading, or other things. No good at it. And they give up.

But if they were to just stick with it because they went from $1,000 to $2,000 per month, 50% growth, and they go, it's not fast enough. It's not what I want. Everybody else is achieving bigger and better results. They rush off and chase this shiny object syndrome, and they don't realize the power of the compounding effect of everything they learned in that year. That full year of dedication and focus they learned is going to compound. And all the work that they did is going to compound over time. And within three and a half to four or maybe five years, they do get to that $10,000 per month.

But they're never going to realize that or get to that stage because they quit and chase some other shiny object syndrome. So there are so many things within the time with us versus against us Philosophy that I'm sharing with you, like the shiny object syndrome, different mindsets that people may have, being brought into vanity metrics that other people have on social media, and wanting to compete on that. So you can see What I'm trying to get across here is that if you zoom out and realize if you're at least onto a winner, even if it's a small win, right? A 50% increase, you know, on 1000 to 2000 dollars per month in a business is huge.

That's a massive win. Even if you were to go from 1000 to 1300 per month or 1500 per month in the business, that's still a great win. It's a small win, right? With that small win, small win, small win, sorry. That, compounded over time, becomes a massive, huge win. Smart people know this. Smart people get this. Smart people embody it. And they do this because of compounding, right? We do this. The smart people do this because we know that time is actually on our side.

Time is on our side when we understand the compounding of not just the dollar compounding of a bank account, which you may have learned, but the compounding of the work that you've learned, the compounding of your experience, the compounding of the business that you're in, and the compounding of wherever you're at in your journey. If you stick with that, then you're definitely going to get a bigger and better result over a longer period of time. So what I want to share with you is that you should stick with it. Don't burn yourself out trying to get to the big goal as soon as possible.

You are likely to end up packing it in if you do that because you're going to burn out and you're giving yourself a timeframe. Instead, realize that time is on your side. Time is with you, not against you. We're flipping the script here. When you believe you need to try and get a result in one year, you're putting time against you. When you give yourself more time and allow compounding to happen, you put time in your favor. And that's what I want you to understand through this philosophy, that you can put time in your favor if you know how to, if you're a smart person, if you go for a macro vision and you stick with it. Now, these philosophy videos I'm talking about are just a few of the philosophies, right?

I've got so many different philosophies that I coach my coaching clients and teach them who have been able to, you know, double their businesses, right? And set themselves up for big wins, right? Help people go from within one year, sure, getting 60% growth in their business with working the same amount of hours. But it's all done in small, little steps, okay? And we can see that it was a massive win.

Didn't 10 people exit in one year like everybody expected them to? But he achieved an awesome result, and I'm super happy with that. And other great results for people going from seven figures per year to eight figures per year. So if you're interested in having me personally coach you, just email me at [email protected]. Honestly, email me, and let's chat. I'm certain I'll be able to help you. If I can't, at least I'll point you in the right direction to somebody who can check me out on YouTube.

If you liked this solo podcast episode of me sharing some of the strategies that I learned in 2021, the philosophies that I've used in 2021. Let me know. I'm happy to share more through solo podcast episodes if you'd like, but I hope you enjoyed it and I'll speak to you on the next podcast episode.