16 – The Middle Man
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When James Reynolds attended James Schramko’s talk in Dubai, he was up against a wall and in debt. With James’ help, he identified a business model that worked for him and in a few years built a seven-figure business from nothing. In this episode of Sales Marketing Profit, James shares the steps and phases in his student’s inspiring journey.
In this episode:
00:48 – The impact of export marketing
02:05 – Holiday globetrotting
04:48 – The unique Dubai environment
05:28 – A do-or-die situation
07:32 – The right action is crucial
08:15 – The middle man model
10:40 – Someone else selling, someone else supplying
12:50 – $110K in the first 5 months
13:45 – Why the model works better now
15:18 – The step-by-step
17:57 – A simple analogy
18:43 – Some pricing guidelines
20:14 – Recapping the process
20:59 – How to scale the business
22:58 – Finding the right customer
23:37 – What most business owners should do
24:09 – Overcoming capacity issues
26:39 – The next phase: Team and systems
28:30 – Adding a hull to the catamaran
28:03 – The Mastermind effect
29:39 – Business-building steps
31:15 – And here’s the situation now
32:51 – Fixing one constraint at a time
35:15 – Lessons learned
Tweetables:
Taking the wrong action accelerates failure. [Click To Tweet]
What’s the shortest line between you and the money? [Click To Tweet]
Have someone else create the solution. [Click To Tweet]
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