The Longer Crowbar Articles

3 Mistakes That Keep Your Business Stuck Pt. 1

Myron Golden 00:00
You’re about to discover the three main reasons your business can’t scale. By the way, when I say scale, I’m not just talking about incremental growth, I’m talking about exponential growth, I’m talking about your business should be multiplying. In nature, everything grows by multiplication. It’s unnatural for things to grow by addition. So how do I make my business scale? What does scale mean? It means geometric growth, it means exponential growth, it means it’s twice as good this year as it was last year, it’s not just a little bit better, you don’t want to increase by 1020 30%, you want to increase by 100% 200% 300%. growth year over year, how can you do that? Or better yet?

Myron Golden 00:34
What’s keeping your business from doing that right now? That’s what we’re about to talk about in this video. So the first main reason your business can’t scale is because you have the wrong business model. Wrong business model. What is the wrong business model mean there? There are different kinds of business models. So so your business, the wrong business model is the worst business model in the world is what I call the one intrapreneur. One tray printer business model. Now, you might be thinking, There’s no such word as an entrepreneur. Sure, there’s I made it up. So why intrapreneur business model?

Myron Golden 01:07
What is the entrepreneur business model, the entrepreneur business model is Ella p times LV, that equals entrepreneur, LP times, LV, what does that stand for? low profit times low volume. Most there are, there are literally millions of why intrapreneur entrepreneurs all over the world who have low profit, low volume business, when they make a sale, they make a little bit of money, they make $5, they make $10, they make $15. And they only make six sales a month. So they have low profit, they have low volume, they want to be an entrepreneur, but they don’t know how. There are a lot of people in the multilevel marketing space that are entrepreneurs. There are a lot of people in the affiliate marketing space that are entrepreneurs. There are a lot of people in the coaching space, who are watch printers, they have this little bitty coaching program and they charge $100 An hour and they get six clients a month and they wonder why they’re struggling.

Myron Golden 01:57
You’re a wonder printer, stop being an entrepreneur, how do you fix the entrepreneur? Well, you either have to fix the profit, or you have to fix the volume or you have to fix both. But one of the main reasons and businesses don’t scales because you have an entrepreneur business model. See, somebody told you that if you sign up for this business, this business plan this marketing program, if you sign up for this, and you sell our lotions, potions, travel, whatever. By the way, I’m not making fun of multilevel marketing, I have made more money in a month doing multi level marketing than I’ve ever made in a year at a job. So multilevel marketing, network marketing, whatever you want to call, it can be a real business. But for most people who are in it, it is not.

Myron Golden 02:39
Because the profits, they don’t build a distributorship. They don’t build multiple distributors in their organization. So they, they don’t scale, just points of distribution. And the profit they make on each thing sold is too low for them to create wealth for their family. So what you’re really doing is you’re being leveraged by somebody who understands what’s going on. And they showed you what they wanted you to think is going on. And unless if you’re in a multilevel marketing business, unless you are actively recruiting new distributors who actually move volume, you are not an entrepreneur, you are an entrepreneur. Okay. So you have to fix that. If you got if you got an E commerce business. And you’ve got these products that you sell on Shopify, you sell them on eBay, or you sell them on Amazon, but you’re only making 10 sales a month and you make $15 Every time you make a sale, that’s $150 a month, you are not an entrepreneur, you are a white intrapreneur.

Myron Golden 03:34
Okay, you’re the wrong business model. So a better business model than that is business model B. And you can scale this to some degree. But it’s you have to make sure you make the right moves in order to scale and that is what I call the entrepreneur business model. So what is the entrepreneur business model entrepreneur? Is the business model where you have high profit times low volume equals entrepreneur, that’s where most entrepreneurs are, they have high profit. So I remember when I was an entrepreneur, and I thought I was a baller, right? I was making 30,000 a month, I had my little $500 packages, right? I had my $1,000 packages, I had my little $100 programs that I would sell. And I would sell enough of those to make about 30,000 a month with 30,000 a month was about the maximum amount I’ve ever made in a year in my life.

Myron Golden 04:29
And I can remember like it almost like it was yesterday was in somewhere around 2000 14,005 I think I went to a Robert Allen wealth retreat. Now Robert Allen is the guy that wrote the book, no, no money down. He wrote multiple streams of income. He wrote modeled streams of Internet Income. He’s the co author of The One Minute Millionaire and I went to a wealth retreat that he put on. And he asked for somebody to come up to the stage and give a testimony who had used his information to make money. Well, one of his programs that I had was called infopreneur ring. It was like six CDs and I I listened to it every day for years. I know that sounds weird, right? Like people. Well, I read that book already. I heard that already. I’ve already been in that. I literally listen to this audio program every day for you. I didn’t listen to the whole thing every day, but it stayed in my car and just listen to it over and over and over and over and over again.

Myron Golden 05:14
Because I wanted that to be integrated into my DNA. I wanted what he knew to be in my DNA. And I said, Yeah, man, I like I used to be a trash man. I was making $6.25 an hour, I use some of the stuff I learned from some of your books and some of your programs. And now I’m making $30,000 a year my expenses. I mean, $30,000 a month, my expenses are $5,000 a month. I live like a king. And I’m basically, you know, virtually rich compared to what I used to be. I was like a baller. He said, man, you’re doing really good. And this is in front of 700 people. He said, You’re doing really good. You’re about to have a breakthrough to two really big money. I was so confused. First, I was a little irritated. Right? keepin it real? A lawyer did I’m like, did he just does my 30,000 A month 2700 people? You asked me for the testimony. Right? It is you, right? And now you just wait, wait, wait.

Myron Golden 06:02
There’s a level where $30,000 A month and a lot of money. Let me get to that level. So wrap your mind around what just happened? Like, just in the way he said it, and they said it so nonchalantly. It wasn’t like it wasn’t like he was like giving casting shade on me. It wasn’t like he was disrespecting me. He just like the thing that came to his mind came out of his mouth. And that thing that came out of his mouth gave me a new perspective. There is a level where $30,000 A month is peanuts. Hmm, a lot of can’t wait to get to that level. And so so that is an entrepreneur, I was an entrepreneur, I was making 30,000 a month, consistently. Like I had, I had money in my bank accounts, I had money in my safe. Like I could buy anything I wanted. And I thought I was a baller. If I had a month where I made 30,000 that were my business did 30,000 in revenue.

Myron Golden 07:04
Now I’d wonder like, Where have I messed up. So that’s the entrepreneur level. Now, this is one that’s really, really good. I know a lot of people who are really good at this one, I’m not great at this, I do it some but this is not my primary business model. But this is a by the way, you can scale the entrepreneur business model. If you’re gonna scale the entrepreneur business model, you need to scale it based on either automation, or delegation or both. Automation, you need software, or technology to do some of the activities of that business. Back when I was in the insurance business, one of the pieces of technology that we used to have we used to have auto dialers they probably still haven’t today, right?

Myron Golden 07:49
And the auto dialer would dial a bunch of people’s phone numbers and like prospect of the people who call back we’d only call people who are interested that way we didn’t waste our time prospecting, right? Okay, so that’s technology. Another piece of technology you could use is you can use an opt in funnel, right, where you give people something for free in exchange for some information that’s valuable. And then they give you their name and their email address or their phone number. And then you can contact those people and offer them the things that you have for sale, right. So in the entrepreneur business model, you can scale using either automation or you can scale using delegation, some of the stuff that you have to do in fulfillment of the stuff you’ve sold, you hire somebody else to do that stuff. That’s called delegation.

Myron Golden 08:26
So delegation and automation will give you the ability, the ability to scale your $30,000 a month business to 60,000 a month, to 100,000 a month, 250,000 a month, ADA to whatever it gives you the ability to do Okay, so the next business model is what I call the Walter printer. Wall tray, printer business model. What is the Walter printer business model? By the way, for those of you who have read boss moves, my boss moves book, you know, these business models are in my book, and this is this is low volume tie. I mean, low low, not low volume, low profit.

Myron Golden 09:00
low profit times high volume equals the entrepreneur. This is the Sam Walton business model. Sam Walton had a model had a business a motto, Sam Waltons motto was, I don’t ever want to make more than 30% markup on the stuff I sell. If I get a good deal from a vendor, I’m gonna pass that deal on to my customers. He said, If I usually pay $1.50 for something, and I ended up getting it for $1 I’m only going to mark it up to $1.30 Sam Walton became the richest man in the world on a 30% margin, wrap your mind around that, like I can’t even like 30% margin like 30% margin almost gives me like when I say it, it almost gives me a toothache 30% margin. Like I don’t even like it. I don’t even like the way that feels. But for people who are watching foreigners, that’s people who have Amazon stores, people who have Shopify stores, people have E commerce businesses, where they sell like 1000s of units of a thing on the internet.

Myron Golden 09:58
That is a wall intrapreneur business model there are literally 1000s of little Sam Waltons running all over the run around all over the world who sell somebody might be at the door guys run around all over the world who who are like, like making 1000s of dollars a month 10s of 1000s of dollars a month, hundreds of $1,000 a month, millions of dollars a month in E commerce, because they have the wall intrapreneur business model. Now I don’t like I saw that. It’s really interesting. Here’s what you have to do, you have to build your business in a way that it serves you at the highest level. So it gives you the energy and bandwidth to serve your clients at the highest level.

Myron Golden 10:32
So one of the mistakes that I made is, I used to, like follow the money. I don’t think following the money is a good way to create wealth. Not following the money alone, right? Because I saw other people were making money on Amazon or other people making money on Amazon like selling stuff. So I’m gonna make money on Amazon. So one of my friends who was making money on Amazon, so yeah, I just go to Dollar to $2 tree, I buy a bunch of cheap stuff, and then I sell it on Amazon make a profit. I’m like, Okay, I’ll do that. So I went to Dollar Tree bought a bunch of stuff. Then I came home and then I had to inventory that stuff. And then I had like, I had to create spreadsheets like the spreadsheet that made my back hurt when I said that word. And then then I had to ship the stuff to Amazon.

Myron Golden 11:11
And then I had I’m like, why would anybody do this? This makes me want to pull my eyelashes out handfuls at a time I hate this. Right? And so I didn’t like the entrepreneur business model for me. It’s not that it’s a bad business model. It’s just a bad business model for me. Right? Because I don’t like I don’t like minutia. I feel like I feel like what I’m doing like minutia. I feel like a little gerbil. Right, I don’t like it. So but but it’s a good business model. For people who do like it. I’ve got, I got I got a friend here in Tampa, this guy, he built a 12 he built a an eight figure business in three years with the entrepreneur business model. What? So you have to find the business model that matches your DNA that matches your personality that matches who you are and how you are, if you’re gonna build a business that scales. Okay, the fourth kind of business model, this is my favorite.

Myron Golden 12:04
This is the business model that I focus on. I call this the wealth intrapreneur business model. Wealth ShopRunner. What is that? Oh, you’re about to find learn about the learn something? Well, intrapreneur what’s wealth runner? high profit times high volume? equals well, intrapreneur this is this is this one. This is my favorite. So. So for instance, here, like high profit, what’s high profit? This is gonna sound crazy. My like, my lowest priced, high profit products are books. And the reason books are great, like low priced high profit products, is because I self publish. Why do I self publish? I self publish? Because why would I pay somebody? Why would I pay a publisher 40% and then pay the bookstore 35% and then pay the book distributor 15%. And then I get 10% of a $20 books every time I sell $20 book I make $2? Well, there is a time when that makes sense.

Myron Golden 13:09
But this ain’t that tag. Right? And so like what? See, when you become an author, you learn things that people who want to become authors don’t know. So for instance, here’s one of the things you learn a bookstore is the worst place in the world to sell your book. Now how many Oh, that’s shocking, right? A bookstore is a terrible place for you to sell your book. Because people go in bookstores looking for books they already know they want to buy. So they don’t know who you are. They don’t want to buy your book. But they do know who you are, then maybe they want to buy your book. Right? But also a bookstore is a terrible place to sell your book because you’re competing with 50,000 other titles. On this, I’m really amazing. Where I saw my boss was booked this book right here, this book that I sell for this book that I sell for $30. This paperback book that I sell for $30 cost me about $2.50 to print. That’s high profit. How high? Like it’s more than 1,000%.

Myron Golden 14:11
Do you realize that? It’s more than 1,000% profit on this book. I make more than 1,000% profit on this book. Okay, why am I telling you that because this is a low priced high profit product. Now I don’t know how many we sold this month but last month we sold 700 copies. And here’s what’s cool, we didn’t sell them in a bookstore. We sold them on our website on the funnel for this book. Boss moves on boss moves We sold 700 CDs at that analysis. Now that’s not a fortune but it is 21,000 extra dollars plus shipping, which is $10 times 700 is another 7000 So now $28,000 This book brought in last month Walter printer. This is a low price, high profit product right now like selling that book because this book does everything I needed to do. It gives me at least 1,000% markup. I like selling consulting. Why? Well, because I’m good at it. So therefore, I can charge a lot for it.

Myron Golden 15:13
How much do you charge I charge 40,000 an hour. Say, but I don’t have 40,000. I know plenty of coaches that will coach you for less. But I ain’t want to. Right. And so that’s high profit. I talked for an hour. I make $40,000. I did a 45 minute presentation last month, I just got the wire transfer. And that wasn’t even a coaching. That was just me. That was me coming here talking for 45 minutes on a zoom call. I talked for 45 minutes on a zoom call. When I came here and talk for 45 minutes on a zoom call. I was helping some other entrepreneur make sales of their offer. They wired my deposit yesterday was $38,000 for that 45 minutes. And the reality there. Here’s the reality. I forgot I even did it until the guy texted me said you should get your money any day.

Myron Golden 16:00
Now. I’m thinking what money? Oh, that’s right. I did a presentation I forgot about that. Why am I telling you I’m telling you this. So you can understand that there is a business model out there that’s easier to scale. And that is the welcher printer business model. So high profit High boy so that the first reason you have the wrong business model, if this is your business model, you’re gonna be stuck like checking a pickup truck. That’s the first reason your business can’t scale because you’re an entrepreneur. Okay, if you’re an entrepreneur, it can scale but you have to do it the right way with with automation and delegation. Okay, second reason your business can’t scale. And by the way, scale means exponential growth is because don’t don’t let this hurt your feelings too bad. But let it hurt him.

Myron Golden 16:35
Okay, no one wants your product. Nobody wants it. Nobody wants what you sell. They don’t want your product. They don’t want your service. So you got an offer people some people say no, no, no, no, no. Oh, no, it’s a two letter word. Are you having a hard time with the Internet? Oh, no, I told you already. I don’t wanna buy your thing. Right? So people don’t want your product. Why don’t people want your product? Because you started your business in the wrong place? Where do you start it? You started it in here, you came up with this idea that you thought was great. That’s why you don’t only one buy in the product that you create it. You buy it from the manufacturer, and then it sits in your garage, because you thought it was a great idea. Right? Or you started your business here.

Myron Golden 17:17
I’ve always wanted to start this kind of business. Too bad. So sad you’ve been had. I’m opposed. And I know it. Because don’t start the business you want to start, don’t sell the stuff you want to sell. don’t invent the thing you want to invent. Only write books people want to pay to read. Only create products people want to pay to own. Only provide services people want to pay to have served to them. Stop creating stuff because you want to nobody’s gonna pay you to do the stuff you want to do. They’re gonna pay you to do stuff they want you to do. Is that too tough? Because I’ve always wanted to write a book and tell my story. The here’s the problem with that. Nobody don’t want to read about your story.

Myron Golden 18:00
Nobody cares about your story. But you and your mom, and she don’t want to read about it. She was there when it happened. stop wanting to write a book about your story. Nobody cares. Nobody cares about my story. Nobody cares about your story. Write the book, the marketplace wants to pay to read everybody say pay to read, pay to read, create the product people want to pay to acquire. They don’t want to pay for it. They don’t want it. Nobody wants your product. I know that’s I know that sounds hurtful. And it sounds mean. But I’m like somebody’s got to tell you the truth. Because you are doing them streets trying to sell something nobody wants to buy. Okay, nobody wants it. Why don’t they want it? Well, they don’t want your product. Number one, because it doesn’t fix their problem. It’s not a fix. It doesn’t fix the problem. It doesn’t matter if you think your solution is good for their problem. It only matters if they think your solution is good for their problem. I mean, I’ll track it.

Myron Golden 19:01
I see it all the time. I watch people sell. And I’m listening to them talk. I’m thinking to myself, do you even hear what you’re saying? Like, are you listening to yourself right now? Because you sound crazy. Interesting. So for so I knowing myself the way I do. I hate the phone. I hate I hate phones. I don’t like talking to them. I don’t want to answer it. But I do I return phone calls. I just don’t want but I don’t like phones. Because they’re they’re usually interrupting me while I’m doing something I already desire to do. If I desire to talk to you, I call you and let you hate your phone. That’s just way too honest.

Myron Golden 19:45
Okay, well, here’s the thing. This dude called me and when people call me and I don’t know who they are, the first thing I do is look at my phone and I look at the number like why did I answer Oh, I answered this because of the plumber was coming. I thought this might be him. Okay, now why does this That’s not my number. And so they call me and they want to, they want to take my time. It’s only gonna take five minutes. It’s not gonna take five minutes gonna take five more minutes. Right? So when people say, Oh, it’s only gonna take a second, when somebody says only gonna take a second. Now it’s time for me to get off the phone. I don’t have a second. I’m in the middle. So I’m right now, because people who exaggerate that much they will waste your whole day. Right? So this guy’s Okay, well, we got this really great thing. We will talk to you about solar, like, and I love salespeople. So I’m like, I hate the phone. But I love salespeople, right. And somebody’s got a good sales presentation. Like, I want to hear it. Because they may have something good that I want to buy.

Myron Golden 20:41
But even if they don’t, there’s a lesson in their sales presentation, I can learn even if they’re bad, I can learn what not to do. If they’re good. I can learn what to do. So I like having conversation with sales. And I want to support salespeople because I think salespeople make the world go round. Right? I got mad respect for people who sell stuff. But this guy called me and then I said, Okay, call me next week. Well, instead of call me next week, I’m here shooting video. He shows up in my house. My wife calls me says this is the house these are my house. Why? Why are we at my house? So I called him. And I said, So what’s going on? I thought it was gonna meet here. Okay, timeout. You sell solar, right? Okay, what’s the point? Well, we can save you $500 a year, maybe even $2,000 a year. So already, this is a like, this is not for me. It’s gonna cost me more than $2,000 to have a conversation with you about saving $2,000 a year. So this, like, this is a mismatch.

Myron Golden 21:49
Right? And so they want to sell solar, because that’s important to them, because they want to save the planet. I believe that God is going to rebuild, the plant is going to burn down and be rebuild the whole thing. So like, I’m not trying to save the planet. That’s not my religion. But if it’s yours, I’m not mad at you. So I’m not trying to save the planet. But I do believe that we should take care of our environment. I believe that right, but I’m not a planet worshiper. And I don’t care about saving money on my electric bill. I don’t have any idea how much my electric bill is, I have no idea how much it is. It’s automatic. It’s on auto pay. So it’s it? Here’s how much it is it’s zero. It just gets paid every month. I don’t know how much it is. Right? It doesn’t matter if I’m focused. If i By the way, a lot of people don’t get this. If you spend too much of your thought, effort and energy on conserving what you have. You’re using energy that you could be using to create more than you have.

Myron Golden 22:40
Which would serve you much better than saving the little that you have. What would you rather do save 10% Or make 10 times more the same energy that it requires a save 10% could help you make 10 times what you’re making now. And then you could care less about saving 10%. Anyway, it’s just a thought. So it doesn’t fix the problem? Well, his solution didn’t fix my problem. Because my problem was not my electric bill. My problem was you’re calling me and now you’re at my house. That’s my problem. So I called the guy said, look, here’s the thing, dude, your product is not for me, I love salespeople I want you to do well, I wish you well. But your product is not for me, I’m not your customer. I promise you I’m not your customer. And it’s okay, you’re gonna do great. Just not with me. I’m there’s no universe in which I’m going to sit down and talk to you about for an hour or 30 minutes or 10 minutes about saving. I thought $500 on my electric bill, it’s not gonna happen.

Myron Golden 23:31
So they don’t want like, like, they don’t want to fix the problem. Some people don’t want to fix the problem, because their problem is the only excuse they have for their life not working. So if you have a solution, they don’t want your solution. Because if you fix their problem, now they got to deal with them. That’s real talk. The other reason is they don’t understand your product or service. Why don’t they understand that? They don’t understand? Well, they don’t understand because they don’t understand because either you have done a poor job of explaining to them why your solution is the ultimate solution to their problem they know they have. And see it’s not their responsibility to decipher what you say in your cryptic sales message. While you’re trying to impress them with the value of your product, it’s your job to make them see clearly that the best solution and the best hope they have of making their experience of life better is by saying yes to the offer.

Myron Golden 24:42
You’re making them. So sometimes they don’t understand it just because you’re not good at explaining it. Okay. And M three, they don’t have the capacity. They don’t have the capacity to fix the problem. In other words, they don’t have what Is that mean? That means even if they bought it, they don’t have the ability to implement the thing that they bought. Right? They don’t have the capacity. So if that’s the case, you’re selling to the wrong people capacity could mean they don’t have the money. Capacity means they don’t have the intelligence to use the thing that you sold them to fix a problem. It could mean they don’t have the capacity, it could mean they’re not coachable enough. It could mean, they’re not going to make themselves available enough. But those are some of the reasons your business will scale.

Myron Golden 25:31
The third reason your business won’t scale is because nobody wants you the second reason nobody want your product, sir. Next is you’re selling to the wrong people. And so, so one, your business model is wrong to no one wants your product or service. Three, you’re selling to the wrong people, you’re selling to people who don’t want to fix the problem. You’re selling the people who don’t have the money to fix the problem. Here’s one of the biggest problems you have, especially especially, especially minorities, and I’m going to talk to minorities because I is one. And so therefore, I can talk to us. And nobody can say I’m a racist. Okay. So here it is. We want to fix the problems in our community that we used to have. That the people who were trying to fix them for don’t want to fix yet. At least they don’t want to fix the most. Stop trying to save people. Jesus is the only Savior.

Myron Golden 26:26
And when you try to save people from their situation against their will, you’re gonna frustrate yourself and irritate them. Okay, so they don’t want to fix the problem. They don’t have the money to fix the problem. And so, because of those things, either you have the wrong business model, or you no one wants your product or service, or you’re selling to the wrong people, your business can’t scale. Now, I’m going to do a part two to this and tell you the other four reasons your business can’t scale. So once you got these fix, then there’s four other things you got to fix in order to get your business to scale. But you fix those, you’re off to a good start. So I hope this video helps you if it did, feel free to share it with somebody like it, comment, whatever even if you disagree. I like those comments too. As long as you’re not calling people names and being kind like not being rude. Hey, I like it when people disagree with me. Sometimes you’re right. Okay, in the meantime in between time, peace out Cub Scout

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