235: Paul Jarvis | Company of One

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Guest: Paul Jarvis

Business Name: Company of One

Check out Paul's Media:

Book: A Company of One: Why Staying Small is
Amazon: https://amzn.to/3dBvlTo (this is an amazon affiliate link)

The Investing Article Paul wrote that we discussed about:
https://pjrvs.com/wealth

Sign Up to Paul's Sunday Dispatch Newsletters:

https://pjrvs.com/

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Host: Michael Arias‍
Website: The Dental Marketer‍‍
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Here are my notes from the book. Feel free to download and purchase the book if you'd like.

Get the book on Amazon (this is an Amazon Affiliate link)

Anyways, here are my notes:

• More isn’t always better.

• Focus in business needs to be better, not bigger.

• Not all growth is beneficial, growth can harm your resilience and autonomy.

• It’s easy to embrace growth. It’s easier to throw more at any problem that comes up.

• A company of one questions growth and stays small on purpose.

• More is generally the easy answer but not the smartest.

• Small can be along term plan, not just a stepping stone.

• Envy is hard to manage. As it’s a socially unacceptable emotion. In reality, all we can focus on is being second best when we compare.

• Knowledge is knowing a tomato is a fruit, wisdom is not putting it in a fruit salad.

• We should never assume having an abundance of knowledge, is having an abundance of wisdom.

• Working for yourself does not mean working by yourself.

• Sacrificing customer experience for customer acquisition will not workout in the near future.

• Skills can be replicated, personality can not.

• Successful customers build successful businesses.

• To stand out and build an audience, you have to out teach and out share the competition, not outscale them.

• Ideas aren’t valid currency, execution is a valid currency in business.

• Customers don’t always know what you think they know. Too often we are so close to what we are selling that we assume others know about it or know what we know, but most of the time...that’s not the case. Customers don’t know that much about something to realize how useful or beneficial that info can be to them.

• Use education to sell your product. Look at CASPER Mattresses. People use to go to a mattress store and lay on it and decide to purchase. Now, what is CASPER doing? All their sales are online and they don’t even have a retail store.

• The internet has democratized education.

• Create an environment where customers respect and value your decision and thoughts. How can you do this? By freely education them.

• How do you build authority. Not by propping yourself up. By sharing what you know. Teach your audience and customers so they can truly learn understand and succeed. Teaching your expertise puts you in an authority simply by virtue of the fact that you're showing someone how to do something.  People are guarded to salespeople.

• Word of mouth conversation drives sales 5 times more than paid media.

• Send an email after a week or so from the customer using your services/ procedure and ask on a scale from 1-10 how happy are you with the service. If they say an 8 or more you can pitch them a double sided incentive or for referrals.

• Focusing on growth and profit at the same time is nearly impossible to do.

• Problem solve with simplicity.

• Launch and refine.

• Ask “Who needs help” in your newsletters, social media platforms, groups?

• Good relationships are the foundation of building success for a company of one. Business connections come down to happiness. If they are happy, they will talk about you, be loyal, and continue to buy from you.

• People want to be the noun, but not willing to do the verb.

• Ask questions to your prospect like:

1. Is there anything in particular that you want to know?
2. Do they want a second set of eyes to look at something?
   
3. Do they want to brainstorm on what to do next?
   
4. Do they want a second opinion?
   
5. Is there anything they want to know about the industry?
   

• Add small bits of advice without selling. It’s basically free consultation or a free project road mapping session.

• Have a Runway Buffer. Save at least 3 months in your personal bank to take time off.

• To add more to the mix is simply looking for a way to cover up the problem without figuring out a way to fix the problem and bring a solution.

• All business is a choice of how we want our life outside of business.

• Stay attentive to the opportunities that require growth, and question them before taking them. The beast of growth can devour your company.

That's it! Let me know if you get the book and let me know your thoughts, been thinking to get the author on the podcast.

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