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Deep Dive with Ali AbdaalDeep Dive with Ali Abdaal

How To Build A Business In 2023 (The Easy Way) - Robin Waite

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Robin WaiteguestAli Abdaalhost
Aug 3, 20232h 26mWatch on YouTube

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At a glance

WHAT IT’S REALLY ABOUT

Robin Waite Coaches Ali Through Starting a Business From Scratch

  1. Robin Waite explains that a coach asks well-formed questions and holds clients accountable, and he blends this with mentoring based on his 12 years running a web design agency.
  2. Through a role-play where Ali plays a junior doctor, Robin shows how to choose an idea using the three Fs (freedom, fulfillment, finance) and a simple scoring sheet, rather than waiting for funding or the perfect idea.
  3. Robin teaches value-based and capacity-based pricing, arguing hourly rates are unethical and that charging more brings committed clients, so a handful of clients a year can hit an income goal.
  4. He lays out a four-step marketing approach (ideal client, where they hang out, go to them, be tenacious) and sales tips such as pitching at the start of a talk and treating a 'no' as a response to the offer, not the person.
  5. The conversation closes on personal themes, including work-life balance, Robin's rejection of hustle culture, the value of lifelong learning, and a signed-book giveaway of his book Take Your Shot.

IDEAS WORTH REMEMBERING

5 ideas

Choose a business that balances freedom, fulfillment and finance

Robin says chasing money alone fails because when things get hard there is nothing fulfilling to keep you going. He suggests scoring ideas out of 10 on how much you love them, how likely you are to get results, and whether people can afford to pay.

You don't need funding to start

Robin calls the belief that you must raise a loan or investment first a misconception. He advises taking the smallest possible first step, such as writing ideas on a sheet of paper, rather than procrastinating.

Price on results and capacity, not hours

Robin works backward from an income goal and the number of clients you can realistically serve, which led Ali's idea from £200 to about £2,500 for a six-month program. He argues hourly pricing rewards slower, less skilled people and is a broken model.

Marketing is finding the ideal client and showing up consistently

Robin's four steps are identify the ideal client, find where they hang out, go to them, and be tenacious with a consistent message. He adds that the identity layer of a client is even more important than demographics.

A 'no' is about the offer, not you

Robin says fear of rejection leads people to make the sale about themselves instead of serving the client. He explains that people are saying no to the business's offer, so it is not personal.

WORDS WORTH SAVING

5 quotes

Get out there and sell something for some money and see how you feel about it afterwards. It's as simple as that. You'll learn 90% of everything you need to know

— Robin Waite

There's only two things that can possibly go wrong. You lose a bit of money, or you lose a bit of face.

— Robin Waite

The hustle and grind culture is bullshit.

— Robin Waite

When you say, "Well, I think I'm only worth £40 an hour," you're kind of making a decision on behalf of all of your clients, which might, may or may not be serving them justly.

— Robin Waite

When somebody says no, they just don't get the value that your business offers. It's not personal.

— Robin Waite

Read the available transcript
Coach vs mentor vs consultantThe three Fs of businessCapacity-based pricingMarketing 101 and lead generationOvercoming fear of sales and rejectionFinances and Profit FirstWork-life balance and hustle culture

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SPEAKERS

  • Robin Waite

    guest

    Business coach and author of “Take Your Shot,” focused on helping service businesses productize and grow.

  • Ali Abdaal

    host

    YouTuber and entrepreneur with a medical school background who hosts “Deep Dive with Ali Abdaal.”

High quality AI-generated summary created from speaker-labeled transcript.

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