Dan Martell - September 27, 2023


This changed how I looked at business


Episode Stats


Length

43 seconds

Words per minute

233.74828

Word count

169

Sentence count

7

Harmful content

Misogyny

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about how to turn an expense into an income line item and how to make money from it. If Amazon was a stand-alone company, it would be bigger than Salesforce. This is exactly what Amazon did with Amazon Web Services.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
00:00:00.000 One of my strategies when I coach private clients
00:00:02.240 is ask them, how do they take an expense
00:00:05.200 and turn it into an income line item?
00:00:07.100 One of them was the event.
00:00:08.240 And I was like, okay, well, you're spending all this money
00:00:09.840 on delivering an event, do you have sponsors?
00:00:11.640 And they were like, no.
00:00:12.340 Well, if you sold sponsorships to the event
00:00:14.580 where you have a built-in audience
00:00:15.760 of very high caliber people,
00:00:17.200 you probably could just cover your fixed costs
00:00:19.680 on delivering the events.
00:00:20.640 Within three months, they are break-even on their events.
00:00:23.680 Oftentimes, entrepreneurs don't look
00:00:25.340 at their expense line item.
00:00:26.700 This is what Amazon did so well. 0.99
00:00:28.160 if amazon web service was a standalone company it would be bigger than salesforce amazon said okay
00:00:33.680 what are the things we're spending money on infrastructure shipping how do we make that
00:00:37.920 revenue and they said what if we created a service called amazon web services and
00:00:41.520 and start charging other people to use our infrastructure.