Business Mastery

“Beyond the vaguest of outlines, he didn't even have a plan—just the unshakable conviction that he was destined for greatness.”

“If I have any ambition it is so natural to me, so innate, so intimately linked with my existence that it is like the blood that circulates in my veins, like the air that I breathe.”

“He had no money, no occupation and, it appeared, no one who believed in him quite as much as he believed in himself.

The only thing he knew with any certainty was that in the end, whatever it took, he would succeed or, quite literally, die trying.”

How is business so far?

Business is hard. It requires a lot of problem solving and overcoming issues and learning how to be resourceful. It is also very rewarding to see how much personal growth can occur as you traverse these hardships. I think that I did not realize how important and personally challenging I would find marketing to be. It really is the key driver in your business and it is what really pushes your business forward. The business I am in is the marketing business and brand building business so that people trust the company.

Identify the gaps between where you are and where you want to be

A huge gap right now is META restrictions that ban me from being able to market my products appropriately. Another would be the tech that I still struggle with due to this being a completely online business. Another gap is the education that is required for my potential customers to feel comfortable over how the medication works and not feeling apprehensive to take it. It is the early stages of the products popularity and keeping the business alive as the product becomes more well known and trusted also requires dialing in on marketing and brand propositioning to be seen as a trusted and credible establishment. A huge gap is cash flow always - everything is very expensive and it’s hard to keep everything afloat as the healthcare space puts a ton of problems in your way in order to even get the word out about your business. I want to be at a place where Im able to market my business without any constraints and I have really good systems in place in the backend with fantastic customer service reps that respond quickly to all inquiries and help me to make sure LTV is high.

I also want to have a partner in the business that is just as interested as I am in solving problems and having fun figuring it all out together.

Why did you get in business originally? Why are you in it now?

I got into business originally because I read countless books about businesses and founders and love the strategic idea of building something enduring with others that requires creativity and innovation. I have always sought financial freedom and know that business and being an equity owner is the best way to achieve wealth long-term. I also want to become the person who is a millionaire, or billionaire. That person requires a brain and skillsets that I do not yet have and I would like to be challenged to achieve more in life and learn how to think differently.

I am in business now because I no longer fear failure or the idea of not being good enough. I know that with time, and investment I can accomplish anything I set my mind on. I also want to be challenged and I want to grow and I want to use my creativity to provide more value to humans on a mass scale. I want to learn how to make a business that greatly helps others achieve confidence and I want to grow in my ability to problem solve and be resourceful.

What do you want to get from this business long-term?

Primarily I want to acquire the skills of building a great business. That means leadership and patience with helping others to grow. Learning how to hire the right talent for the team and cultivating an environment in which people love to work. I want to learn how to problem solve and iterate faster as I improve in my capacity to be resourceful. I want to learn how to manage stress more efficiently and also be someone who does not allow problems to derail her or cause her to be short and mean towards others. I want to understand financials and see the results of generating profit from my work - and then grow the business to have more amazing resources for people and to venture into hormone replacement therapy and other services that allow a more well-rounded business that taps into health and longevity. I want to not be stressed about paying the bills on time or about the flow of money because I have someone in place who keeps me updated on my financials and the business is making enough money that I’m not living in a state of scarcity. I want to grow connections and find friends who are even smarter and more creative then me so that I can have interesting conversations with other people who are just as interested in building cool shit as I am. I want to build a tight knit community of people with like-minded interests that love what they do and are passionate for more in life. I want to reverse aging.

What’s your exit strategy?

I don’t have one

What stage is your business in?

Infancy

What stage is your industry in?

I believe we are in the very early stages of what we can expect to see with the medical weight loss market. However, I do think that this industry is ripe with disruption and that I will have to move and iterate and perfect my marketing FAST or else I will lose out on the ability to have this product perform at the price points I have now.

How about the economy?

very unstable times.

Who is my customer?

My customer are women - as I become more aware of the exact audience that I am targeting through split testing, this response will most likely vary, but for now I have categorized women into 3 subsets:

1. women who are in their 20’s and are beginning their career and are interested in finding a partner in life that want to lose weight to look their best

2. post pregnancy women who are interested in losing their extra fat gained during pregnancy but do not have the time or energy to really focus on their diet

3. post menopausal women who are going through challenging seasons of their life with the need for hormone replacement therapy as well as weight mitigation techniques to help them get their lives back together.

What do they need, value, and want, and what will fulfill them?

They need a new opportunity that provides them hope - that it is possible to lose weight and that they can achieve their dream bodies without unhealthy dietary mechanisms. They also need to no longer have the incessent food noise of constantly thinking and craving food so that they can lose weight without all of the struggle. They want something that actually produces real results for them and helps them to lose weight effectively over a long period of time. They want it to not be excruciatingly difficult and to take forever before they’re able to see results. They will be fulfilled with not only getting their weight in check but also improving their dietary patterns with healthy food choices and also focusing on what unhealthy patterns they have in place that cause them to gain weight.

What is my X - Factor? My key competitive advantage

Our competitive advantage is the ability to provide the product nationwide at affordable rates directly to a patients door. We would like to also eventually require blood work that then allows us to help patients with hormone replacement therapy to make sure that their muscle mass is appropriately growing and that their testosterone levels are at the proper levels so that we can further help our clients get their hormones in check and also provide coaching over protein intake and proper micronutrients that are very important to stay on top of for the medication to function properly.

In addition, I would like to be able to provide financing and a rewards program for my patients that rewards them for their weight loss progress and for things such as taking a photo of their shipment when it arrives, their birthday, a weight loss goal, etc.

I believe that by targeting solely women I am able to niche my marketing to a more specific demographic and tailor my words to most effectively speak directly to them.

Skinny Theory believes in cultivating beauty in every person. To help you embody a sense of confidence and vitality that comes with actively choosing to take control of your weight. Weight loss is just the beginning, but it is the foundation for an enhanced quality of life.

What people do I need in place to recruit?

I definitely need a COO - someone who can operate inside the business and really take the things I say and help me to get shit done. Also someone who is financially very on top of things and is much more risk averse and think precautionary for the future - also a risk mitigator for potential legal issues.

What’s your margin in your business?

60% profit margins

What are the most profitable things you do?

So far I only have one service but I will want to add upsells that are vitamins and eventually blood work with a full panel so that hormone replacement therapy and proper care can be provided for the clients. As well as gym memberships at discounts or partnerships with personal trainers.

What are the least profitable things you do?

Waste time, make mistakes, not try to find new ways to advertise my product.

What’s the highest cost in your business?

My software and marketing. The software for the backend of the product is 2.5k and marketing is very very expensive.

Cogs (just medication):

Semaglutide: 40%

Tirzepatide: 40%

GHL: $100 p/month 

Bask: $4,500 p/month

Doctor fees: $35.00 per client

Stripe fees: 3% 

What is your estimated CAC and LTV?

What is our churn? Projecting 10%

What is our LTV? Ltgp? Aiming for 10% monthly churn