šŸ’° Making Other People Money

Early on when I started learning about business there was a lot of advice about what type of business you can run. You've got Rich Dad Poor Dad describing a real estate empire or E-Myth talking about franchises as systems.

It wasn't until I got deeper into it that the advice started to be more honed.

Business to Business vs Business to Consumer.

The ideas in E-Myth and Rich Dad still apply but the concept is more geared towards either:

  1. Directly making a business money
  2. Saving a business a shit load of money

Consumers are fickle af. It's also hard to directly make them money. Usually you're trying to get a consumer to... consume. To spend their resources.

Business to consumer, or b2c, is nightmare mode for somebody that wants to start their own business. It's advanced level tactics. It's weird margins. It is often a slippery slope of murky gray practices.

It's just very hard.

On the other side of the token is business to business, or b2b. Businesses consume too, but businesses generally exist to make money. Businesses want to save money too because when a business saves money, they are actually making money! šŸ˜Ž

People might look at my business, egghead.io, and initially think "well this is a consumer site, it's selling screencasts to developers and they aren't businesses"

That's not totally untrue, but developers are more like businesses so they are a "special case" in my playbook. Developers have a salary ceiling that means teaching them new skills directly translates to increasing their take-home pay. We can also substitute for expensive college and boot camp tuition.

But this also overlooks our primary clients at egghead.

šŸ‘©ā€šŸ’» The egghead instructors

We help subject matter experts take the hard-won knowledge they have acquired up until this point in there career and translate that into dollars šŸ’µšŸ’µšŸ’µ

We save them time by removing the tedium of producing Really Good Workshops. From the planning to the final delivery we remove the pain and friction involved with the entire process.

We provide instructors with a world class highly skilled production team that they don't have to fuckin manage.

We do the work. We get shit done.

Now, egghead instructors still have a lot of work to do, but it's a hill they can climb. We help to motivate, coach, and keep them accountable.

The end result is royalty checks, passive income, elevated professional reputation, and a sense of pride from creating something nice.

  1. Save them time.
  2. Make them money.

This is business on easy mode. It's still work, but the pitch makes sense and if we continue to focus on the outcomes of our clients, we are paving the way to our own success, however we might choose to define it.

If you've got a minute (or 30?) I highly recommend watching this video from Jay Abraham. It literally changed my entire outlook at how I look at and approach business: import ResponsiveEmbed from "react-responsive-embed";

It makes me smile when I see it.

Let's chat about coding, business, learning, and teaching.

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Joel Hooks Ā© 2022