PBD Podcast Tom Ellsworth (Biz Doc) | PBD Podcast | EP 62
May 20, 2021
Tom Ellsworth, a business expert, joins Patrick Bet-David and Adam Sosnick for a lively discussion. They tackle the recent Bitcoin volatility and the implications of Bank of America's minimum wage hike to $25 an hour. The conversation pivots to the mysteries of UFOs and societal desensitization regarding threats. They also delve into the secrets of leadership, examining the complexities of governmental information and the challenges faced by leaders like JFK and Trump. Themes of personal growth, responsibility, and the evolving landscape of finance ensure a thought-provoking dialogue.
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Episode notes
Haircut Pricing
- Patrick Bet-David recounts paying $72.10 for a haircut, a price much higher than he's used to.
- This experience prompted him to analyze the barber’s business model and pricing strategy.
Barber Economics
- Patrick Bet-David analyzes the typical income of a barber, considering factors like chair rental fees and tips.
- He concludes that even with higher prices, barbers don't automatically earn large incomes.
Shifting from Barber to Businessman
- Patrick Bet-David advises aspiring business owners to shift their perspective from professional skill to business scaling.
- He suggests focusing on factors like chair utilization, pricing strategy, and overall business growth.