TMBA 443: The Knowledge Gap vs. The Efficiency Gap Revisited

TMBA443: The Knowledge Gap vs. The Efficiency Gap Revisited post image

Podcast 42:21| Download | Stitcher | iTunes | Comment

A few weeks ago, Dan and Ian published an episode called The Knowledge Gap vs. The Efficiency Gap.

In that episode, they tried to make a distinction between businesses that solve “Knowledge Gaps”, by educating customers on how their services can solve new problems versus businesses that solve “Efficiency Gaps”, by providing more efficient solutions to preexisting needs.

A couple of our listeners wrote in with some interesting comments about that show. Nate Smith is the founder of AdmitScout, which specializes in paid traffic lead generation for addiction treatment facilities. Eagan Heath is the founder of a digital marketing agency called Get Found Madison, which is mostly aimed at businesses in Madison, Wisconsin.

In this week’s podcast, we’ve invited both Nate and Eagan to share their responses to that episode and to talk about the roles that Knowledge Gaps and Efficiency Gaps have played in their businesses.


Listen to this week’s show and learn:

  • Why Nate’s first business didn’t succeed as he had hoped. (2:59)
  • Nate’s reaction to our original “Knowledge Gap vs. Efficiency Gap” Episode. (12:34)
  • How Eagan was able to build a successful business solving Knowledge Gaps. (24:39)
  • Why Eagan believes that every Knowledge Gap can be turned into an Efficiency Gap. (29:24)
  • What made Eagan decide to buy a second business. (35:11)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is brought to you by Weebly. Don’t let the lack of a big budget or technology skills get in the way of having not only a beautiful website, but a powerful one. If you’ve got a product idea and you want to share it with the world, check out As a special offer to listeners of this show, you can visit to get 15% off your first purchase.

Enjoyed this podcast? Check out these:

Grab your copy of our book!

In the entrepreneurial world, it’s rarely questioned that “exiting” is the end goal of a smartly built business and a prestigious waypoint in a successful career.

In 2015, Dan Andrews and Ian Schoen sold their business for multi-seven figures, and although they don’t regret selling – there are many mistakes they made that were avoidable.

The book presents thought experiments designed to help you avoid similar mistakes.

Whether you are in the early stages of building a business or thinking of selling, this book is designed to help you build with the future in mind.

Drop your email below to get a copy of the book. (Note: This form will automatically redirect you to download the book.)

We respect your privacy.

Listening options:

Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian

Published on 05.31.18

Next post: