How This 25 Year Old Entrepreneur Scaled His Businesses to Millions in Revenue
We interviewed the founder of Pharos Investment Group, Michael Coudrey, to find out how he grew his businesses from one employee to 9 (and $2.4 million in revenue) in just a little under one year.
1. Polarize your marketing to dominate a sub-section of an entire market
Michael Coudrey shares that in order to attract the right clients, you need to have polarizing marketing. “We tailored our product for a specific sub-section of the market and specialized the client experience around this. This reduced our barriers to entry and also provided a more specialized, and reputable, monetization opportunity.”
2. Serve the customer first
Michael Coudrey says that while many people understand this concept, they seem to fail to adequately implement it. We thought, “what if we threw away all concepts of cost … and just made the best products possible?”
Start with thinking of every possible way to give your customers a mind-blowing experience. Michael adds that you have to be good at what you’re selling – you can’t cut corners. Bring the value and the high-ticket customers will follow.
3. Learn from proven people who themselves are significantly wealthy
If you go on social media, you’ll see dozens of who Michael calls “knowledge-scammers” — who market and sell fake education or business courses across the internet without actually having accomplished what they are selling. Michael says “seek out and learn from proven high IQ individuals. Rich people know how to make money more than anyone. Search and learn about their industry and the exact process on how they got there. In business you don’t need to necessary re-invent the wheel, you just need to find what already works for companies like yours and innovate upon the process”.