Summary: Alex Hormozi shares 13 years of straightforward business advice in just 79 minutes. The video offers practical tips for entrepreneurs to succeed without any fluff. Viewers can expect clear insights to help grow their businesses.
you can just put something on your menu of items or services that you sell that's 10 or 100
times more expensive and just by having it there it'll anchor everything else on your menu or the rest of the prices that you have and just make it something that if someone actually bought it you'd be stoked (View Highlight)
the big thing is the 4x4 all right which is especially when you're starting out four hours a day doing the core four and so the core four means you're reaching out to people you know oneon-one reaching out to strangers one-onone making content one to many or running ads one to many and so there's the four ways the only things one person (View Highlight)
people who you work with for free can make you money in three ways number one is they can leave you a testimonial number two is they can refer you other customers via Word of Mouth that you did
a good job and number three they can actually stay on and pay after a certain period of time when you do make it not free (View Highlight)
when you're starting out you want to capture as much proof as humanely
possible (View Highlight)
point of greatest deprivation is when you make your sale point of greatest satisfaction is when you collect your proof (View Highlight)
we had a 35% reduction in conversion percentage but we doubled the price and so we made more money in multiple ways so one we made more absolute Revenue we literally just made more Topline but the magic of this is that let's say the cost of our thing was $500 and we sold the thing for $1,000 okay so we have 50% margins well if we double the price we go from making $500 $ in profit to $1,500 in profit so I
actually triple the amount of money I make by doubling my price and so even if I have a 35% reduction or a onethird reduction in sales I tripled how much money I made on the other 2/3 of my sales which means me doubling the price with a one-third reduction in sales still doubled the profit in absolute amounts despite selling onethird fewer customers and one of the nice benefits of having fewer customers is that you have fewer costs associated with
delivering on them so not only is the gross margin per customer higher your fixed cost that you have to incur to continue to expand your infrastructure go down and fundamentally a smaller amount of customers that make more money is an easier business to run than more customers that make you less money (View Highlight)
