On this episode of the DevReady Podcast, Andrew and Anthony interviewed Zachary Kohler, founder of Kozler Business Solutions. During this episode, they mainly talk about methods and practice of business growth. Zach shares a wealth of first-hand knowledge from his self-taught years.
Zachary grew up with an innate interest in the business. But what really set him off was investing. He shares one time about growing his investments to 500,000 dollars in just a few years in his twenties.
Shortly after his mother passed away, his father’s business began to crumble. One day the bank visited. Shaken at the prospect of losing everything his family had built, Zachary turned the business around through an incredible feat, paying off all the family debt.
“You have to learn to face reality while having unwavering faith that you’re going to get through.” – Zachary Kohler
Zachary shares these seven areas to watch when building for growth:
- Leads and inquiries.
- Conversions of leads and inquiries.
- Retention rate — how often are your customers staying?
- Transaction value — how much are your customers’ spending?
- Transactions per year — how often your customers are coming back?
- Reducing overheads.
- Reducing costs — bring in manufacturing, for example.
The main takeaway is that profit is not cash. Successful business owners do the dirty work to build, build, build. Focus on creating value. Focus on collecting and tracking data. Focus on how to sell something that’s actually profitable. Be conscious of the model. It’s not just about marketing—you need your entire business to be healthy to scale.
“Think about business holistically for its compounding effect.” – Andrew Romeo
- Business growth.
- Strength in the face of adversity.
- Digging in with your back against the wall.
- It’s all about faith in yourself.
- You have to build, build, build.
- People need to understand the difference between profit and revenue.