#780 How do you grow from 7 to 8 figures?

Tropical MBA: Entrepreneurship & Founder Lifestyle

Dan & Ian talk to Lucas Peters, founder of Journey Beyond Travel, about his plans to get to $10M in 5 years.

They break down the business and shift thinking from a project-oriented mindset to an approach rooted in financial analysis: What are your gross margins? What does it take to aquire a customer? What is your rebuy rate and LTV?

They consider the highest leverage paths to growth.

Want to get in the company of other entrepreneurs to help you kickstart your 2025 goals? Submit your application to join Dynamite Circle at https://dynamitecircle.com/

Chapters
(00:03:08) Business Growth and COVID Impact
(00:04:08) Unique Business Model and Market Positioning
(00:04:47) Sales Process and Customer Engagement
(00:09:04) Revenue Model and Pricing Strategy
(00:13:02) Customer Retention and Repeat Business
(00:13:55) Expansion Plans and Market Opportunities
(00:14:43) Product Development and Cost Analysis
(00:14:56) Maximizing Customer Lifetime Value
(00:23:08) Strategizing Location Development
(00:25:32) Market Potential and Capacity Constraints
(00:31:23) Building a Supportive Team
(00:32:38) Testing New Product Offerings
(00:35:31) Driving Down Product Development Costs
(00:37:53) Final Thoughts and Future Directions

Useful links:
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Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal

Additional episodes you might enjoy:

“The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients”

“You’re Gonna Mess It Up The Way Everybody Messes It Up”

“When is my LTV good enough?” + Founder Mode for Bootstrappers