How to Build a Valuable Business You Can Sell Someday | Ep 726

"These have made me millions of dollars." In this episode, Alex (@AlexHormozi) breaks down 7 different tactics for getting customer referrals, which are an incredible way of getting leads because they close at higher rates, stay longer, buy more, and also are usually FREE.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:(00:23) Ask customers who else they know after a sale (7:54) Offer a discount to customers in exchange for introductions (10:28) Offer more free services(11:07) Offer them money(12:52) Referral at success(15:02) Handwritten card(17:28) "Spouse program"(18:41) BONUS!Follow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

"Instead of talking sh*t behind someone's back, talk it to their face." In this episode, Alex (@AlexHormozi) shares the valuable distinction between insult and critique and breaks down how to have tough conversations with your team when you're trying to get better together.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:(0:44) Life changing concept (2:06) How do you give feedback without being insulting?(4:30) Mock critique conversation(7:10) Real story of someone who became an *sshole(13:45) How this can make organizations stronger(16:41) Closing remarks Follow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

In this episode, Alex (@AlexHormozi) shares a brutally honest truth that you should consider. If you've been doubted, if you've lost a sale, if a conversation didn't go your way... That maybe it's not someone else's fault. Or the circumstance. Or a bias someone has against you. If you want to have the impact you say you want, maybe you need to get better.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:(0:40) Examples of "needing to get better"(3:17) It might not be because of bias(4:35) Examples from when I needed to get better (8:17) Get honest with yourself (15:58) "What would it take?"(21:30) Beat your victim mentality away(22:00) Closing remarksFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

"Keep the Goose, Sell the Eggs." Today, Alex (@AlexHormozi) shares a valuable framework for understanding if your business is sellable, and if it has multiple components of it, which could be the most valuable aspects of it to sell. 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(00:24) - Story of someone trying to sell his business (01:16) - The Golden Goose(03:24) - The Big Picture You Have to Understand(06:21) - How to Verify What Your "Goose" Is(9:56) - Mrbeast Holdco Example(14:38) - How Rollups Work(18:42) - Closing RemarksFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

"You can't be busy and be broke. Pick one." Today, Alex (@AlexHormozi) speaks about one of the core ways to scale as a small business - do the unscalable. It's a belief that holds many back that are scared of doing work that won't be feasible at a different revenue number.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:(0:43) - People being scared of doing the scalable(4:06) - You can't be busy and be broke. Pick one(4:40) - Two most powerful questions to ask your customers(11:30) - Don't copy the time management of rich people(13:30) - Doing the unscalable(20:13) - Closing remarksFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

“People don’t know the actual business they’re in.” Today, Alex (@AlexHormozi) dives into the core elements driving business success, emphasizing the significance of sales, marketing, brand, media, and distribution. Using real-world case studies, he illustrates strategic pivots and the importance of recognizing unique business challenges, offering invaluable insights for entrepreneurs, gym owners, software developers, and supplement companies.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:(0:22) - Understanding the gym business(2:54) - Lessons from the software industry(5:12) - The cleaning business revelation(8:52) - Scaling service-based businesses(12:48) - The hard truths of entrepreneurship(20:23) - Maximizing enterprise value(23:48) - Case study: The canned cocktail business(26:21) - The importance of repeat customers(30:42) - The hail mary strategy(36:13) - Confronting the real problem(38:09) - Concluding thoughtsFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

"Messing up is a part of business.” Today, Alex (@AlexHormozi) discusses the significance of managing business mistakes effectively and transforming negative customer experiences into positive ones. He highlights strategies such as prompt accountability, issuing refunds, and delivering exceptional service, fostering loyal customers and boosting business reputation.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:(1:11) - Story 1: The bent gym equipment(2:41) - Story 2: The Ritz-Carlton experience(5:07) - Principles for handling mistakes(10:49) - The angry boat concept(11:54) - Going above and beyond(16:41) - Empowering employees to fix mistakes(20:50) - Turning mistakes into opportunitiesFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

“It’s not that you have anxiety, it’s that you didn’t do the work that you know you should have done.” Today, Alex (@AlexHormozi) highlights the crucial role of thorough preparation in achieving success in various fields like sales, marketing, and customer success. By reshaping views on effective preparation, Alex provides valuable insights to help alleviate anxiety and imposter syndrome, ultimately enhancing performance and enabling listeners to excel in their endeavors.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) - The importance of preparation(2:01) - Types of preparation(5:33) - Consulting and preparation(8:35) - Ad preparation and scaling(18:40) - Preparation for one-time events(25:12) - Final thoughts on preparationFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition

”You can make an absolute killing just talking about what you're really good at. Today, Alex (@AlexHormozi) shares how a dietitian successfully monetized a small, niche Instagram audience, earning nearly a million dollars annually. Highlighting the value of targeted, value-driven content over vanity metrics, this episode reaffirms that genuine engagement and a dedicated audience lead to significant financial gains.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:(0:15) - A surprising encounter: the dietitian's story(3:43) - The importance of niche content(6:36) - Lessons from personal experience(9:31) - The value of a dedicated audience(13:32) - Followers make you famous, business makes you rich(18:02) - Focus on business metrics, not vanity metricsFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition

“You should want to have as many people as possible copying you because it means you're leading the way.” Today, Alex (@AlexHormozi) challenges the concept of thought ownership and highlights the importance of viewing competition as an opportunity for growth. He emphasizes serving customers, improving your product, and achieving success through innovation, rather than obsessing over intellectual property theft.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:(0:31) - Thought ownership: a misguided notion(2:36) - Real-world examples of idea theft(3:12) - Legal realities and futility(4:25) - The competitive nature of business(9:28) - Focus on customers, not competitors(14:27) - No idea is owned especially in businessFollow Alex Hormozi’s Socials:LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition