Do you know who buys the most magic tricks? Amateurs or professionals
Amateurs.
Here’s why: Their audience stays the same (friends & family) whereas the professional can keep doing the same 10 tricks to a new crowd every night.
Amateurs.
Here’s why: Their audience stays the same (friends & family) whereas the professional can keep doing the same 10 tricks to a new crowd every night.
There’s a business scaling lesson I take from this.
On the micro level - sometimes the most profitable customers (in this case the ones that buy the most tricks) isn’t what you’d expect.
On the micro level - sometimes the most profitable customers (in this case the ones that buy the most tricks) isn’t what you’d expect.
On the macro level -
The guy who keeps changing the tricks all the time is like the person who keeps inventing products to sell to the same audience.
The constraint *appears* to be the amount of tricks rather than the obvious one: the magician need to learn to get new eyeballs
The guy who keeps changing the tricks all the time is like the person who keeps inventing products to sell to the same audience.
The constraint *appears* to be the amount of tricks rather than the obvious one: the magician need to learn to get new eyeballs
So I try to think to myself:
Am I being the magician who keeps trying to learn new tricks to sell to an audience…
Or am I trying to figure out how to get on the biggest stage in the world with one incredible act.
10,000 reps of one act > 10,000 new tricks.
Am I being the magician who keeps trying to learn new tricks to sell to an audience…
Or am I trying to figure out how to get on the biggest stage in the world with one incredible act.
10,000 reps of one act > 10,000 new tricks.
And once you perfect your act, you don’t try and think of a new one.
You scale it (which is where the boring billions roll in):
You take it on tour.
New stages.
Virtual versions.
Sell recordings.
VIP access experiences.
You scale it (which is where the boring billions roll in):
You take it on tour.
New stages.
Virtual versions.
Sell recordings.
VIP access experiences.
It’s often more profitable to figure out different ways for a customer to consume the same thing than to make new things.
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