Steph Smith On Anti-Cheat Businesses, Ethical Hackers, and 5 Business Ideas With High Demand & Low Supply

**SPEAKER_1** (0:00)
All right, there's this amazing book called Getting Everything You Can Out Of All You've Got. I read it a few years ago and it changed my life.
And the reason I loved it was because it basically talks about how to get and make more money using things that you already have.
Coincidentally, today's podcast is brought to you by Business Made Simple. It's a podcast by Donald Miller, who I'm gonna tell you about in a second, but he has this amazing episode that's all related to this book and the things that I learned in this book. It's called How To Make Money With What You Already Have. It's an incredible episode. It talks about all the stuff that I learned in this book. The host is Donald Miller. I didn't know who Donald Miller was up until recently, but over the last 12 months, this is totally by coincidence. It was all separate people. They said, you have to check out Donald Miller. He's amazing. So I'm happy that he's part of HubSpot's podcast network. You can check it out, Business Made Simple Podcast. It's where he coaches you on how to build your business like an airplane, where the cockpit is your leadership, the body is your overhead, the right engine is your marketing, the left engine is your sales.
You have to check it out. This guy's amazing. It's called Business Made Simple with Donald Miller.

**Steph Smith** (1:02)
With the pandemic, a bunch of restaurants have gone online, quote unquote. They have the QR codes, right? And something that I think of every single time as an internet marketer is why they are not A-B testing their menus. And so I think someone needs to go and create A-B testing software that restaurants can ingest super easily.

**SPEAKER_1** (1:20)
Thank you.

**Shaan Puri** (1:27)
What's up, Steph? Steph is back in the house, one of the most requested return guests of all time.
We should have you on more. What are you doing now, by the way? You left the Hustle slash HubSpot, you went to Andreessen. Is that where you're at still, or are you doing other things?

**Steph Smith** (1:43)
Yeah, exactly. I'm at A16Z, I'm their new podcast host, so they've had a podcast for like seven or eight years, and then it went on hiatus, they looked for a new host, and that's me. We haven't gotten live yet, but we will be soon.

**Shaan Puri** (1:55)
Every time you come on, you bring this document. That's basically like, it's sort of what me and Sam do, but when me and Sam do an episode, we have like two or three bullet points each.
Like three words, and I have two and he has two, and that's how we prepare.
You send this like Encyclopedia Britannica of topics, ideas, like half baked things in your head. So like I'm looking at this, this is like seven or eight pages or something like that. Oh no, 12 pages long. So we have a lot to choose from. So where do you want to start?

**Steph Smith** (2:25)
I wanted to share this one idea. I think I've actually talked about it on another couple of pods, but with the pandemic, a bunch of restaurants have gone online, quote unquote. They have the QR codes, right?
And you pull up the menu. Some restaurants have reverted back to the physical menu, but tons of restaurants are still using these QR codes. And something that I think of every single time as an internet marketer is why they are not A-B testing their menus. And so I think someone needs to go and create A-B testing software that restaurants can ingest super easily.
And the basis of this is, well, A, if you think about what has made so many internet companies successful, it is the fact that they have these alternate worlds that they can A-B test, right? Google homepage, are we using this font or this font? Are we using this color or this color?
Netflix, Amazon, all of these large internet companies have used this, but also there's the restaurant equivalent. So The Hustle did a story on this woman, Michelle Banesh, and you can just look up, design restaurant menus, The Hustle or something like that to get the article.
But we wrote about this woman who her job was literally to go redesign menus, physical menus. And based on her understanding of human psychology, orientation, there's like this Zed or Z effect on the menu and the way people scroll, she was able to figure out how to get one restaurant, just as an example, to bring in $9 more per customer by redesigning their menu. Same products, but just the orientation, the order of the menu, the design of it. And I was thinking, why aren't restaurants not using this? As in, now we have the QR code, which allows us to direct someone to any unique link, right? We have the digitization of this. And so you could hire someone like Michelle and she could probably figure out how to do this for you. Or someone should just create a software that allows restaurants to do this. They don't need to change their menu at all, but they can mess around with the menu design the same way you mess around with landing page design and get higher conversion. And of course, the average restaurant owner is not gonna know how to do this. And that's why I think there needs to be just some sort of software that says, hey, we can increase your conversions by 50%. We can increase your average customer value by $3, whatever it is. And I haven't seen it anywhere.