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From $5K to $12 Million_ Secrets for Building Successful Start-Ups with Nathan Hirsch

Kasim interviews serial entrepreneur Nathan Hirsch, and they dive into the fascinating world of entrepreneurship and discover the secrets behind his remarkable success. From starting with just $5,000 to building businesses with over $12 million in gross revenue, Nathan shares invaluable insights and strategies that every entrepreneur needs to know.

Learn more about:

✅ The unsexy yet essential aspects of entrepreneurship, including bookkeeping and hiring.

✅ The power of minimum viable products and getting feedback from initial customers.

✅ Nathan's criteria for choosing the right business opportunities.

✅ The importance of recurring revenue in building a successful business.


Whether you're a seasoned entrepreneur or just starting your journey, this interview is packed with actionable advice and inspiration that can help you take your business to the next level.



This clip is from The Perpetual Traffic Podcast, watch the entire episode here:

Ep. 508: How Nathan Hirsch Used Partnerships to Build a $12 million a year business:   

 • Ep. 508: How Nathan Hirsch Used Partn...  


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0:00 From $5K to $12 Million: Secrets for Building Successful Start-Ups with Nathan Hirsch

2:38 Why Nathan is a fan of Minimum Viable Products

4:51 How to figure out your next business or investment opportunity

5:57 The recurring revenue component




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Transcript
Kasim:

And I'm so excited today because we're going to learn

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from a monster entrepreneur.

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I'm here with Nathan Hirsch, who's

a lifelong entrepreneur who focuses

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on his words, the unsexy or boring

parts of entrepreneurship, things

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like bookkeeping and hiring.

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He's had an exit, which I think is,

that's the crown jewel of entrepreneurship

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is when you can build a business

that somebody else is actually

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willing to buy, which either means.

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You're great, or it's the

law of the greater fool.

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And you just found

somebody dumber than you.

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But I have a feeling,

Nathan, that you're great.

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Thank you so much for

being on perpetual traffic.

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Yeah.

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Thanks so much for having me here.

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Catch me at a crazy time.

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I got two foster kids staying

with us for a week, a baby on

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the way, a basement being redone.

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But it's tough to complain.

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Life's good.

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Yeah.

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Nothing could be more important

than perpetual traffic though.

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That's right.

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When's the baby due?

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Early August or mid August.

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So July 6th.

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Yeah.

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You're on the goal line, aren't you?

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Yeah.

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At the end.

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It's starting to get real.

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Yeah.

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Do you know, and do you mind

sharing, is it a boy or a girl?

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It is a boy.

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And have you named picked a name out?

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We have picked a name.

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I don't know if I'm allowed

to share it on a podcast.

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Then don't.

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Yeah, you can't let

the cat out of the bag.

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I don't want to get you in trouble.

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But coming soon.

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We're excited.

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That's awesome, for you.

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I know I mentioned pre roll, but I'm

going to do it again just because

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they're my friends obnoxious.

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There's a mastermind specifically

for fathers called Front Row Dads.

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And I wish I joined later into my journey

in fatherhood, but man, what I wouldn't

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have given to be able to go back and just

surround myself with a bunch of dudes.

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Just guys that want to be

better fathers and husbands.

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So if you're listening and you're a dad,

regardless of the stage of life that

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you're in, go check out Front Row Dads.

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Shout out to John Roman.

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That's all we're talking

about today though.

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Today, Nathan's going to talk to

us about his unique hiring process.

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The organic marketing blueprint that

scaled his business from 5k to 12 million.

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I'm reading that right.

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12 million gross revenue.

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And we're going to chat a

little bit about your exit.

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But first I'm going to sneak attack you.

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Are you ready to get snuck attacked?

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Let's do it.

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All right.

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So every guest that we invite on

before we dive deep into the nitty

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gritty, we ask for a nugget and

the nugget can be something ultra

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basic and simple in your mind, but

Something that might not necessarily

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have occurred to our listeners.

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So if you have just that tip, trick,

hack, best practice, that quick hitter,

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that's going to take people and make them

more efficient, better, faster marketers

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or business owners, what would it be?

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So I'm a big fan of

minimum viable product.

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And I feel like I've talked to so many

entrepreneurs over the years that once

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they get 500, 000, then they'll start

building, then they'll start selling.

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And my partner, Connor and I were

the opposite when we started.

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Dropshipping on Amazon.

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We tried it out with 20 orders.

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And if the people complained or

less left us a bad review, we

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would have just refunded them

and moved on to something else.

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Same thing with free up.

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We offered some free hours of a VA, got

feedback, made sure they liked it before

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we doubled down and built software.

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Without your school launched a course.

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If they hated it, we would

have just refunded them.

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With econ balance, we got initial

clients and gave them free bookkeeping

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and saw, Hey, is there a market?

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Are these people going to actually

stick around before we double down

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and build out this whole business?

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And there's been ideas that haven't

worked throughout the years too,

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but we get in and get out quickly.

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For us, we're just big fans of putting

a little money to something, seeing

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if there's actually a market, getting

feedback from those initial customers

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before actually going all in and hire

people and putting money in or whatever

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we're trying to do to build the business.

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Dude, that's not just a nugget.

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That's a, it's a master class of thought

that needs to be integrated in every

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CMO, director of marketing, CEO, business

owner, entrepreneur, because the class.

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That people are put through the

business school class, right?

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Is you plan everything out.

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You build this major

infrastructure in your mind.

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You architect it, you have your business

plan and then you go and you execute.

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And the problem is you

build a 30 story building.

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And then find out that the first

floor ceilings are 10 inches too low.

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And now I got to knock the whole damn

thing down so I can raise the first floor.

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Like just get messy, ready,

fire, aim, build as you go.

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I love that nugget.

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That's awesome.

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And I counted four.

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Successful startups.

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Did I get that right?

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Yeah, we had a free up.

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Yeah, we had an Amazon business that

was successful in the way that it,

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we sold 25 million over six years.

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It was a major castable machine,

but we never really sold it.

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Amazon became harder and we

ended up just dissolving it.

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But we have free up, we have

outsource school and then our

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two bookkeeping brands, e com

balance and accounts balance.

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Yeah, dude.

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So you're a killer.

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Everybody I, broken clock can be

right twice a day as they say.

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And when I see somebody who's

done it over and over again,

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I get one really envious, but

two just really like impressed.

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You obviously see the lanes.

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How are you choosing these opportunities?

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What are the things I

know you said in your bio?

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You're like, I like, what did you say?

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Unsexier, boring parts of

entrepreneurship, but that can't be all

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like, how is it that you're figuring

out where you're going to go next?

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Yeah.

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Yeah, so we have certain criterias that

we like in a business and we, a lot of

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it's just brainstorming and my partner

will come over to my house and we'll

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sit in the backyard and throw a football

around and brainstorm business ideas.

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But we like big markets.

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We never try to create the next

Uber for every Uber out there.

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There's 1000 ideas that people actually

want that there's no market for.

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Yeah.

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Business owners, they need to hire.

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They need to do bookkeeping.

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It applies to almost all entrepreneurs.

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And then we try to just take

our small percentage of the

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market, put our own spin on it.

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Usually around customer service

and good process and really

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valuing the customer's time.

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We like reoccurring revenue

customers that stick around.

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We don't want a business selling

Shopify stores where you're

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building at one time and then

you're always chasing new clients.

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And we want something that we

think will be around in 30 years.

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In my mind, bookkeeping

will be around in 30 years.

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I don't know if that's true, but we

like businesses like that, where the

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industry just isn't always changing.

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And we try to avoid fads and like

the, whatever the latest thing is.

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So those are just a

few things we look for.

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And then it's brainstorming

and market research.

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We like to talk to ideal customers.

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Like when we launched e comm balance,

which is our monthly bookkeeping

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service for e commerce sellers.

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We interviewed a hundred e commerce

sellers and we said, Hey, can

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you name us five competitors?

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What do you like about

your past bookkeepers?

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What do you not like?

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What softwares are you using?

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Stuff like that.

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So that we actually know what

we're getting into because.

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think a lot of times you think you're

your own customer when you're not

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in the customers, you're actually

targeting are way different than you.

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They think different than you,

they care about different things.

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And we want to know all of that

before we actually get into it.

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So I loved everything that you just said.

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One thing I want to focus on specifically,

cause it's something I'm passionate about

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too, is the recurring revenue component.

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I have a list of non negotiables

for any entity I'm involved in.

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And unless we're talking major

high ticket and even then.

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I'm just like, because traffic

is so expensive, customer

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acquisition is so expensive.

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If you're not doing something from

a recurring perspective, I think

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you're, you have a flawed model.

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And hopefully I'm not being, too

aggressive with our listeners, but

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I would like to encourage everybody

who's listening, find a way to

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build continuity into your business.

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it doesn't mean that needs to

be the core of your business.

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If you sell a house, maybe

you can also get involved in.

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or you could start with home services

or you're selling the great big thing,

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that's okay, but then turn right

back around and, you're selling a SAS

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product or a software application.

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you'll start to see the

SAS has a 30 X valuation.

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30, 3 0, and it's because of the recurring

revenue component, whereas, things

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like professional services, 7, maybe?

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So I don't know, writing's

on the wall there.

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