The Game with Alex Hormozi

"Talk about in terms of pain avoidance (…) people tend to be more responsive to it." Today, Alex (@AlexHormozi) discusses the importance of availability for making sales and the difference between talking in terms of pain avoidance versus opportunity for gain. He shares a story about reframing his message to gym owners and seeing a huge response as a result, and emphasizes the importance of using math to guide business decisions instead of emotions.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(0:37) - Importance of availability for sales; availability impacts marketing throughput.(2:56) - Wasting two-thirds of ad spend.(4:09) - People focus on avoiding pain instead of seeking opportunity for gain.(7:11) - Opportunity for gain and pain avoidance as math.(8:14) - Let the math guide you, not your emotions.(11:10) - Gym owners need availability for business success.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"Never get too far away that you can't see the problems." Today, Alex (@AlexHormozi) shares his failures and lessons learned in business, people management, and relationships in the year 2019. He emphasizes the importance of focusing on one thing, protecting the core, and balancing comfort and distance in relationships.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(2:41) - Product must solve pain, not be a gain.(4:44) - Effort is success, not an outcome.(8:50) - Stay close to problems in the organization.(16:20) - Balance comfort and distance for variety.(21:56) - Success created with skills, sustained with traits, beliefs.(28:52) - Time and effort required for success, not outsmarting it.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"Normal people have concerns. You need to overcome them." Today, Alex (@AlexHormozi) shares with us how to manage sales conversations and sales teams using the Closer framework, regular communication cadence, call recordings, cutting the bottom 10% of sales team, and keeping the team competitive through leaderboards and competitions.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(1:51) - The C-L-O-S-E-R framework(7:57) - Use Gong for call recordings. Suggested communication cadence.(9:10) - Cut bottom 10% of sales team regularly to increase productivity.(9:37) - Use leaderboards and competitions to keep the sales team competitive.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"The amount of goodwill you have times the number of times you ask for a sale equals revenue equals how much money you make." Today, Alex (@AlexHormozi) discusses the importance of maximizing value extraction from customers by providing multiple revenue streams and upsell opportunities. He uses the example of a rental car company and outlines a choreographed process for upselling and ascending customers in a pipeline.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(0:30) - Enterprise businesses extract and provide value to end users.(1:51) - Goodwill times sales equals revenue.(2:27) - Upselling includes multiple revenue streams and conversations.(6:52) - Upselling for gym owners: sell to goals, multiple revenue streams.(12:22) - Consistent value extraction is key to increasing revenue per customer.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"The best salespeople have conviction. If you can bring that conviction to the table, they will feel it." Today, Alex (@AlexHormozi) discusses the importance of conviction in sales and how to maintain it even when facing potential failure. He emphasizes the need to compare alternatives and sell in the mind against them.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(0:58) - Lack conviction, need to believe in results for sign up.(2:23) - How to maintain conviction with potential failure?(4:01) - Highest conviction leads to highest closure(6:36) - Script doesn't matter, conviction does.(11:05) - Increase closure by analyzing alternatives to signing up.(16:11) - One favorite close: "fair enough."Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"Consider the alternatives. You can't expect the same if you change the variables.” Today, Alex (@AlexHormozi) talks about some of the most used sales tactics he learned in the trenches, including using the phrase "just how we've always done it" and asking customers which product they prefer. He also emphasizes the importance of having conviction in your service or product and believing in your vision in order to be successful in sales.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(2:26) - People need to see others do it before they comply.(5:22) - Asking what someone wants is the easiest way to sell.(6:55) - Changing variables changes outcomes, the most important sale.(9:28) - Conviction is key in the sale between you and your service.(11:58) - Conviction comes from considering alternatives.(15:18) - Belief in your service overcomes excuses, leading to success.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"If you monetize it properly, it can allow you to get a lot of the things that you normally pay for free." Today, Alex (@AlexHormozi) discusses the concept of monetizing a business's distribution network to generate passive revenue. He uses the example of a gym's members purchasing supplements and food to demonstrate how businesses can capitalize on their clients' purchasing habits to make money without extra effort.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(3:23) - Distribution base monetization for free products and services.(6:49) - Supplements sold with food covering normal expenses.(8:51) - Take care of your people to take care of customers.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"You probably think you work harder than your partner does, and your partner's reading this thinking that they work harder than you do…” Today, Alex (@AlexHormozi) talks about the challenges of partnerships in small businesses and the importance of clearly defining roles. He advises against partnerships and suggests that entrepreneurs should develop all the necessary skills to operate a small business or hire someone to do it for a fraction of the cost of a partner.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(1:16) - No clarity of roles in partnerships leads to issues.(3:11) - Clear division between entrepreneur and integrator is necessary.(5:14) - Clearly defined roles are key to success in partnerships.(7:25) - Define tasks and acknowledge strengths/weaknesses for success.(10:24) - Small businesses require fundamental skills.(12:26) - Establish buyouts early on to avoid conflict.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"Churn is important so that you know that there is a problem, but it is very difficult to implement solutions to try and fix churn." Today, Alex (@AlexHormozi) discusses how to improve customer lifetime value by focusing on leading indicators of churn, such as customer activation points. He also talks about the importance of properly setting customer expectations and bringing in highly qualified customers.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(1:49) - Rich people think about what poor people don't.(3:14) - Focus on leading indicators of churn, as it is a late sign of issues.(6:19) - Customer expectations and transparency.(8:35) - Qualifications can change results and require less effort.(11:56) - Onboarding is a leading retention indicator.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

"Once you know the rules, play the game. Business is a game." Today, Alex (@AlexHormozi) discusses the need for fitness entrepreneurs to focus on making offers that convert and to not be afraid of upselling. He emphasizes the importance of clarifying customer priorities and providing information so that customers can make informed decisions about the offers that best align with their goals.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(0:48) - Make an offer that converts. Upselling isn't illegal.(3:35) - Inform clients of options to get what they want.(6:23) - Market offers that convert. Sell helpful products. Keep testing.(7:37) - Trainers' poor money mindset; give up morals to make money.(8:43) - Clarify priorities, present information, help make informed decisions.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition