Business Lunch

In this podcast episode, Roland Frasier shares his expertise on how to increase ROI in your business despite inflation. With inflation being the highest it's been in over 40 years, it's becoming harder and harder for businesses to make a profit.

Roland provides five specific hacks that can be applied by business owners and marketers to optimize their pricing strategies, adjust their product and customer mix, optimize their value ladder, optimize profit-based offers, and acquire across their value chain.

Key Timestamps:

[00:26] Inflation is driving up costs, making it harder for businesses to profit. To combat this, you can either fire staff and produce less profit, try to cut expenses, or become a better marketer.

[02:43] First hack: Optimizing your pricing strategy is one of the easiest ways to increase profits. When you raise prices, every bit of increased income goes to the bottom line profit, and there is no additional cost.

[03:47] To figure out your current margin, take the trailing 12 months of profits divided by the trailing 12 months of sales. Once you know this, you can calculate how a 1% price increase will affect profits.

[06:30] Testing prices regularly are important. Even if you are marketing for someone else, price testing your offers is crucial to increasing profits.

[07:00] Increasing prices can lead to a significant increase in profit margins, while decreasing prices can have an inverse effect, decreasing profit margins.

[08:33] There are alternatives to raising prices, such as changing the pricing model, refocusing price attention, and repricing to performance.

[13:00] Annual volume bonuses, increasing product/service efficiency, and upselling/cross-selling are some strategies that can help recapture lost profit margins.

[15:03] There are many different types of promotions and discounts that businesses can offer, including off-invoice promotions, rebates, affiliate discounts, and tiered affiliate programs.

[17:43] To ensure that you're not losing money due to multiple coupon codes or forgotten discounts, it's important to keep track of all purchase incentives and regularly test them.

[19:47] Businesses should use these incentives but be aware of their true cost and how they affect profit margin. It's important to regularly assess and calculate the actual profit margin after applying these incentives.

[20:58] Action steps for improving profitability, including setting target pocket prices by customer size, type, and segment; eliminating or capping stacking of discounts; repricing or eliminating products that are sub-margin; prioritizing selling to high-profit customers, and thinking about off-invoice costs.

[22:52] Second hack: Adjusting product and customer mix, focusing on acquiring customers that make the most money, and rethinking value ladders can lead to improved profitability.

[26:10] Third hack: Rethinking the value ladder by starting high and down-selling can also improve profitability. The importance of testing and optimizing the value ladder, and adding something at the top of the value ladder that would make the whole business significantly more profitable.

[28:26] Fourth hack: Create or add low-cost, high-margin products or services that have high perceived value and produce a high profit.

[30:02] Consider offering one on one coaching or product setup help, automation, done-for-you or done-with-you services, extended coaching or membership, extended warranty, group coaching, live event tickets, upgrades, masterminds, or user groups, sales enhancements, and upgrades, tech support or training packages.

[32:55] Use bundles to improve average order value and margin; consider sensitivity testing price, quality, and quantity sensitivity offers.

[34:12] Create new value propositions for customers by identifying what they value and are willing to pay more for, such as offering snack packs with only 100 calories or selling cold Coke at the checkout for a higher price per ounce.

[36:00] Offer 30-day express sprints instead of 90-day video courses, as people prefer quicker results and accountability.

[36:36] Charge more for custom products and services with longer lead times than in-stock offers.

[37:55] Add low or no-cost digital bonuses to physical products, such as event recordings or tickets to already scheduled events, to enhance their value and encourage customers to act faster.

[38:43] Increase average order value and margin by utilizing existing memberships or group coaching programs.

[39:00] Fifth hack: Acquire across the value chain by buying suppliers, outsourcers, distributors, and affiliates, to capture more profit margin and provide better supply, quicker, higher quality, and not lose anything in the process.

• Ask Roland and Ryan a question HERE.

RESOURCES:

• 7 Steps to Scalable workbook
• Get my book, Zero Down, FREE

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

In this podcast episode, Roland Frasier discusses the huge potential of using AI in marketing, business, and copywriting. Roland discusses the prompt engineering framework and touches upon copyright ownership legalities when it comes to AI-created content. He also entertains questions from the audience which will improve our understanding and use of AI tools.

IN THIS EPISODE, YOU’LL LEARN:

[1:23] Roland Frasier introduces the topic of using AI in marketing and shares an example of a successful sales letter generated in just 18 minutes.

[3:38] Roland emphasizes the importance of asking the right questions when interviewing AI to get the best results.

[4:15] He discusses chat-based AI, GPT, and its capabilities in generating content for marketing.

[5:00] Roland explains how he used GPT to create a sales letter for a marriage counseling business and shares the prompts he used to train the AI model.

[7:00] He shares the result of the sales letter created by GPT and highlights the importance of using stories in sales copywriting.

[10:13] Let the AI generate the testimonials!

[11:02] Knowledge is power: The story of the two young Wall Street men.

[14:49] The use of prompts in AI-generated copywriting is discussed, including naked prompts, role-based prompts, data-fed prompts, and combination prompts.

[17:07] The importance of prompt chaining is discussed, where multiple prompts are used to generate a better result, and the final sales letter is created from the combination of the previous prompts without deleting any content.

[21:10] Discussion on continuation prompts.

[25:00] Prompt engineering framework: The first step in prompt engineering is to train the model by assigning a role to the AI and specifying its capabilities and the desired results. You can also add modifiers such as length, style, and format.

[30:05] Creating a marketing campaign: You can prompt the AI to act as an advertiser, copywriter, or ad exec and create a campaign to promote a product or service. 

[32:20] Recruiting plan: Prompt the AI to act as a recruiter and provide information about job openings. The AI can come up with strategies for sourcing qualified applicants, including social media, networking events, career fairs, and employee referrals.

[36:21] AI can analyze Amazon reviews to identify the most common pain points and positive comments about a product. This information can be used to create marketing messaging and sales letters.

[39:04] AI can brainstorm attention-grabbing hooks for videos on various platforms, such as TikTok, to stop people from scrolling and get them to watch the video.

[41:22] AI can act as a customer and provide insights into how they feel about their challenges, and pain points.

[43:19] AI can generate headlines for ads that are based on the benefits and pain points identified by the AI.

[46:12] Roland shares the power of AI in content creation and how it can be used to generate content like sales messages, social media posts, and product descriptions.

[52:50] He suggests crowd-sourcing the best AI prompts for content creation and how it can benefit the community.

[55:20] He talks about how AI will not put content creators out of business but rather elevate their game and make them more efficient in creating original ideas.

[59:33] He also briefly touches upon the legalities of copyright owners when it comes to content created by AI.

[1:02:20] Roland doesn't think AI-generated content will necessarily be penalized by Google as long as it provides the best answer to the user's query and doesn't contain duplicate content.

[1:02:35] Roland Frasier doesn't see AI-generated content as being fundamentally different from the way human-generated content is often created by compiling information from multiple sources.

[1:04:27] Roland Frasier mentions that AI can also write executable code and even games in seconds.

[1:08:19] A question is asked if there is a tool that can turn a YouTube video into an article, and Roland suggests using transcription software and then having AI rewrite the transcript.

LINKS AND RESOURCES MENTIONED IN THIS EPISODE:

• Ask Roland and Ryan a question HERE.
• ChatGpt

RESOURCES:

• 7 Steps to Scalable workbook
• Get my book, Zero Down, FREE

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

Mentioned in this episode:

Join Roland & Ryan at Get Scalable Live

If you’re a founder, CEO, or operator running a 7- or 8-figure business, Get Scalable Live was built for you.

Get Scalable Live

Welcome to the latest episode of the Business Lunch podcast where we have a special guest, Evan Carmichael, who is an entrepreneur, speaker, and one of the most successful YouTubers. In this episode, Evan shares his top strategies and tips for growing your YouTube channel and reaching a wider audience.

Connect with Evan Carmichael

Instagram: @EvanCarmichael

YouTube: @EvanCarmichael 

LINKS AND RESOURCES MENTIONED IN THIS EPISODE:

Ready to free yourself from your business? Go to Foundersboard.com/apply.

Apply to work with Roland here: https://survey.typeform.com/to/Z7NNgD04.

RESOURCES:

Get my book, Zero Down, FREE: https://epicnetwork.com/books/zero-down/.

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

#businesslunch #businesslunchpodcast #businesstips

Mentioned in this episode:

Join Roland & Ryan at Get Scalable Live

If you’re a founder, CEO, or operator running a 7- or 8-figure business, Get Scalable Live was built for you.

Get Scalable Live

In this Business Lunch podcast episode, Roland Frasier welcomes Lucy Guo, the co-founder of artificial intelligence firm Scale API and venture capital firm Backstage Capital. Lucy discusses her journey as an entrepreneur, from selling Pokemon cards and colored pencils in kindergarten to creating bots and marketing tools in college. She also talks about her experiences interning at Facebook and being the first female designer at SNAP. Lucy also shares her recent venture, Passes, a web3 platform for creators to monetize their content and own their fans, which raised $8 million in May 2022. 

KEY MOMENTS:

00:00:49 - Lucy’s entrepreneurial journey (selling Pokemon cards!)

01:52 - Working on Facebook

04:56 - What is Lucy Guo’s experience with Y Combinator?

07:23 - Lucy Guo thinks this is the best way to raise funds

12:18 - Lucy’s investments

18:16 - Lucy’s new venture: Passes!

21:17 - What’s Lucy’s advice for those people pursuing ideal NFT designs?

25:48 - Roland Frasier: Why would you go out and take money from somebody else versus funding yourself?

LINKS AND RESOURCES:

• Ask Roland and Ryan a question HERE.

RESOURCES:

• 7 Steps to Scalable workbook
• Get my book, Zero Down, FREE

Connect with Lucy Guo:

Instagram: @guoforit

Twitter: @lucy_guo

LinkedIn: https://www.linkedin.com/in/lucy-guo-a7804955/ 

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

Mentioned in this episode:

Join Roland & Ryan at Get Scalable Live

If you’re a founder, CEO, or operator running a 7- or 8-figure business, Get Scalable Live was built for you.

Get Scalable Live

In this podcast, THE Lisa Vanderpump discusses her experiences in the entertainment industry, including opening and expanding successful restaurants. She emphasizes the importance of doing your homework, bringing your own unique spin to a business, and treating others with humility and respect. Throughout the podcast, the speakers stress the value of authenticity in producing successful reality shows and building personal brands.

KEY MOMENTS:

01:20 - Lisa’s key takeaways for staying in the entertainment industry

03:43 - Lisa’s advice to people who are currently building their personal brands

06:20 - What makes SUR Restaurant different and special?

06:50 - “My mind never stops working.” - Lisa Vanderpump

07:54 - Lisa’s experience with the Rolling Stones

10:55 - Lisa’s way of dealing with challenging personalities

11:55 - “Authenticity is absolutely key in business.” - Lisa Vanderpump

16:15 - A short glimpse into Lisa’s second book!

18:07 - Does Lisa still have time for fun?

19:31 - How Lisa stays updated on current events

21:45 - How did Lisa and her family deal with the COVID pandemic which greatly affected their businesses

25:20 - What it’s like working with your husband as a business partner?

26:41 - How to stay relevant?

28:38 - “Sometimes you got to fight for what you want.” - Lisa Vanderpump

29:06 - Lisa’s current business partnerships

32:55 - The Vanderpump Dog Foundation’s noble cause!

35:09 - How Lisa raised $370,000 for the Vanderpump Dog Foundation

36:56 - “Whatever business you're in, always have some aspect of your life that is philanthropic.” - Lisa Vanderpump

40:58 - Lisa’s podcast: All things Vanderpump!

42:43 - What are the things that Lisa is looking forward to?

Connect with Lisa Vanderpump:

Instagram: @lisavanderpump

Twitter: @LisaVanderpump

Website: https://www.lisavanderpump.com

Lisa’s podcast: https://podcasts.apple.com/us/podcast/all-things-vanderpump/id1529375610

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

LINKS AND RESOURCES MENTIONED IN THIS EPISODE:

Ready to free yourself from your business? Go to Foundersboard.com/apply.

Apply to work with Roland and Ryan here: https://survey.typeform.com/to/Z7NNgD04.

Ask Roland and Ryan a question: https://businesslunchpodcast.com/ask/.

RESOURCES:

Get my book, Zero Down, FREE: https://epicnetwork.com/books/zero-down/

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

#businesslunch #businesslunchpodcast #businesstips

Mentioned in this episode:

Join Roland & Ryan at Get Scalable Live

If you’re a founder, CEO, or operator running a 7- or 8-figure business, Get Scalable Live was built for you.

Get Scalable Live

Listen to Roland Frasier's interview with Logan Paul, an internet celebrity and entrepreneur, to learn how he went from a bitter rival to a business partner with KSI. Through the power of collaboration and "amplification," Logan and his partner are on track to sell 100 million bottles of their hydration product, Prime, in their first year. 

Learn how Logan has used failure and success to create an inspirational story arc and why he believes being honest with yourself and your peers are essential for growth and improvement. Hear Logan share his story of taking risks, learning from his mistakes, and discovering his secrets to success.

Optimize your potential and join the conversation with Roland Frasier!

Interview with Logan Paul ▶️

Key Points:

00:00 - Host and speaker introduction

03:27 - Logan saw a hole in the hydration market

04:16 - “Amplification”

07:31 - What happened after his fight with KSI

10:06 - Prime brings millennials and Gen-Z into the hydration market

13:38 - Logan talks about partnerships

15:26 - How Logan deals with failures

16:22 - Why do people pay attention to him

19:29 - A healthy disrespect for money

20:05 - Logan’s biggest goal

23:16 - Be honest with yourself

24:55 - Why Logan does not like acting

26:08 - “I love to live”

36:42 - Work ethic from his father

40:18 - What Logan Paul believed his magnum opus was

43:06 - Logan’s bucket list

45:21 - Where is Impaulsive going?

50:59 - Tiktok is good for discoverability

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

More Resources:

Ready to free yourself from your business?

Get to connect with peers and experts to find the best strategy HERE.

Discover The EXACT Strategy Roland Has Used To Found, Acquire, Scale And Sell Over Two Dozen Businesses With Sales Ranging From $3 Million To Just Under $4 Billion! EPIC Training

Mentioned in this episode:

Join Roland & Ryan at Get Scalable Live

If you’re a founder, CEO, or operator running a 7- or 8-figure business, Get Scalable Live was built for you.

Get Scalable Live

In today’s episode, Roland Frasier welcomes franchising expert Erik Van Horn to discuss why you should get involved in the business of franchising, the usual mistakes people make, how much you can earn, and what you need to know before getting started.

IN THIS EPISODE, YOU’LL LEARN:

00:45 Franchising 101: The People Involved And Why We Fear It

05:26 Why Picking The Right Franchisees Matter

09:21 Why Are There Well-Capitalized Entrepreneurs Going Into Franchising?

12:56 Expect To Earn This Much When Going Into Franchising

16:41 The Common Pitfalls People Experience In This Business

24:07 Keep Things Uniform Across All Aspects

26:15 What’s In The Future For Erik Van Horn?

From franchisee to franchisor and investor to consultant, Erik Van Horn has worn many hats over the last two decades. His diverse experience has provided him with unique insight into the challenging aspects of the industry.

Unlike many other franchising pundits, Erik practices what he preaches and is still an active franchise entrepreneur. He has owned 6 brands in 8 states and isn’t done yet with 30 more locations in the works. But more than expanding his businesses, Erik has a passion for helping people. That’s why he has helped 1,000 people (and counting) find great opportunities that meet their lifestyle goals, so they can find the same freedom through franchising that he enjoys.

Get in touch with Erik Van Horn.

LinkedIn: https://www.linkedin.com/in/evanhorn/

Instagram: @erikvanhorn 

Website: https://franchisesecrets.com/

YouTube: https://www.youtube.com/channel/@FranchiseSecrets

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

More Resources:

Ready to free yourself from your business?

Get to connect with peers and experts to find the best strategy HERE.

Discover The EXACT Strategy Roland Has Used To Found, Acquire, Scale And Sell Over Two Dozen Businesses With Sales Ranging From $3 Million To Just Under $4 Billion! EPIC Training

Mentioned in this episode:

Join Roland & Ryan at Get Scalable Live

If you’re a founder, CEO, or operator running a 7- or 8-figure business, Get Scalable Live was built for you.

Get Scalable Live

In today’s episode, the hosts discuss a beneficial company structure that you can use to protect your valuables and assets. The “Goose And Eggs” approach separates the entities that “hatch” new properties and products from the end outcomes. They also talk about how this structure allows for seamless exits, when you should consider selling your “eggs”, and the steps to get started.

IN THIS EPISODE, YOU’LL LEARN:

01:58 A Company Structure That Protects Your Value And Assets

12:41 Acknowledge The Little “Eggs” Within Your Business

13:55 A Three-Company Approach: Breaking Down The Valuable Components Of Your Business

21:22 The Benefits of Practicing This Company Structure

25:49 The Right Time To Sell The “Eggs” To Protect Your “Goose”

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

LINKS AND RESOURCES MENTIONED IN THIS EPISODE:

Ask Roland and Ryan a question: https://businesslunchpodcast.com/ask/.

Ready to free yourself from your business? Go to Foundersboard.com/apply.

Apply to work with Roland and Ryan here: https://survey.typeform.com/to/Z7NNgD04.

More Resources:

Ready to free yourself from your business?

Get to connect with peers and experts to find the best strategy HERE.

Discover The EXACT Strategy Roland Has Used To Found, Acquire, Scale And Sell Over Two Dozen Businesses With Sales Ranging From $3 Million To Just Under $4 Billion! EPIC Training

In this episode of Business Lunch, Roland Frasier and Ryan Deiss discuss the mass layoffs happening at major tech companies and the opportunities and lessons to be learned from them. They explain why businesses are so reactive to changes in the economy, how the layoffs are reflective of the correction and recession, and the potential opportunities for smaller companies. Lastly, they discuss the potential of the newly unemployed to create their own businesses or switch to other jobs.

It’s certainly running some hot takes on this episode. So be sure to bring an umbrella! Tune in to hear how to make the most of the current economic climate and what this could mean for the future.

IN THIS EPISODE, YOU’LL LEARN:

1:31 - Layoffs happening in big tech companies

2:30 - Roland's initial take on the mass layoffs

6:27 - This is what happens when companies FOMO-ed

7:15 - What was the ROI in the previous mass hiring?

8:28 - Why do rising interest rates create the dynamic of mass layoffs?

13:19 - Peloton as an example

14:55 - Twitter: Laying off employees does not mean they are less effective

16:30 - Big techs are following the example of Twitter

19:51 - Will your business continue to grow even if you cut the workforce by 50?

22:50 - The laid-off smart people will launch new businesses

23:30 - Another controversial hot take

LINKS AND RESOURCES MENTIONED IN THIS EPISODE:

• Ask Roland and Ryan a question HERE.

RESOURCES:

• 7 Steps to Scalable workbook
• Get my book, Zero Down, FREE

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

Let us join Roland Frasier and Ryan Deiss in today’s episode to discuss how The Scalable Impact Framework could be used to ensure your business’ scalability. The hosts discussed how to leverage growth to have greater business momentum!

IN THIS EPISODE, YOU’LL LEARN:

01:19 The three things that you have to do in order to scale

06:04 More than 60% of INC 500 companies are out of business 5 years later

07:01 How to leverage growth

20:44 Great businesses have momentum

29:45 How to not be the dancing bear

LINKS AND RESOURCES MENTIONED IN THIS EPISODE:

• Ask Roland and Ryan a question HERE.

RESOURCES:

• 7 Steps to Scalable workbook
• Get my book, Zero Down, FREE

Thanks so much for joining us this week. Want to subscribe to Business Lunch? Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

Mentioned in this episode:

Get Roland's Training on Acquiring Businesses!

Discover The EXACT Strategy Roland Has Used To Found, Acquire, Scale And Sell Over Two Dozen Businesses With Sales Ranging From $3 Million To Just Under $4 Billion!

EPIC Training