Monetization · · 3 min read

More, better, new

A simple, three-part framework for getting new customers.

I heard a simple, three-part framework for getting new customers on ​TropicalMBA​ (which they credited to ​Alex Hormozi​):

  1. Do more
  2. Do it better
  3. Do something new

More, better, new for short.

These are three different customer acquisition strategies that you should consider one at a time in this order.

More

Look at how you're getting customers now – what's working the best? You can likely do more of that thing. If 1:1 ​serve calls​ have a high close rate, you should do more 1:1 calls. If your ads funnel is profitable and driving new leads, you should run more ads. If your IG Reels are driving new leads, you should publish more Reels!

Find what's working and simply do more of it. This doesn't require new solutions or new creativity – just discipline to turn up the dial. It's the fastest, lowest-effort, highest-impact direction to go.

Better

If there's no obvious answer to the "more" approach, then look at how you can improve your existing systems. What's getting results but could be working a little bit better? A little bit more efficiently?

Think:

There are likely areas of your business that are "working," but inefficiently. Start looking at the data and do the hard work to increase the baseline effectiveness of these systems.

New

Only once you've exhausted more and better should you look at new. New means creating new things, such as new products or systems.

This is slow, high effort, and inefficient to start. Everything you could consider in the more and better categories was once new! And if you spent any time in the better category, you know that everything starts inefficient until you really dial it in.

The irony is that, as creators, we often default to "new" as a solution for more customers. But in reality, this is the WORST approach in the near term.

Example: How this plays out in my business

I recently ​spoke with Justin Moore​ on his YouTube channel about my internal debate on creating a new membership for creators who don't yet qualify for ​The Lab​.

My thinking goes like this:

Maybe you can relate to this?

But let's go to the trigger point: I want to increase revenue.

To create an entirely new product means:

...almost all of that BEFORE I see the first dollar! What an expensive, resource-intensive commitment.

Meanwhile, I have products that I could probably market more. I should talk about ​CreatorHQ​ more (especially since it has an Experiment database that helps you track your efforts to do things better)!

But, also, I would need ~7 sales of CreatorHQ to have the same impact on my bottom line as one new member of ​The Lab​...

So, if the true desire is MORE revenue – the shortest distance is more members into The Lab. How can I achieve that the fastest? By identifying what leads to applications and doing MORE of that.

What leads to more applications? Talking about the community more. Sharing the fact that the average Labmate earns $29,977 per month. I mean, ​look at these folks​!

Without this framework, my brain would've kept pushing me towards new. But with this framework, it becomes obvious that the lowest-hanging fruit opportunities for new customers are always more and then better.

By the way – I recently redesigned (i.e. made better) ​the sales page for The Lab​ – and I've received more applications because of it.

More, Better, New – in that order.

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