The Game with Alex Hormozi

Latest Episodes:

Grace in Business | Ep 187 Mar 13, 2020

Show notes

"Being a d*ck does not make you more money." Alex (@AlexHormozi) talks about the importance of having grace in business and not burning bridges. He shares personal experiences and gives examples of how being a dick does not make you more money, and that approaching situations with patience and perspective can lead to more success in business.

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:

(1:30) - Burning bridges makes you less money.

(4:34) - Business mistakes happen; all are imperfect human-based.

(6:41) - Have grace in business; don't burn bridges.

(8:34) - Negativity is remembered, not the person or subject.

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4 Tactics to Maximize Margin | Ep 186 Mar 10, 2020

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"If you just add that extra dollar, like overnight, you have $400 a month that just appears magically to you." Today, Alex (@AlexHormozi) shares four billing tactics to maximize margin, including adding 99 cents to all memberships and purchases, using backup cards to decrease turn, switching to a weekly billing cadence, and using ACH for lower processing fees. These small tweaks can add up to significant increases in profit for gym owners.

Timestamps:

(1:24) - Add 99 cents to purchases/memberships.

(3:34) - Get backup cards to decrease turn.

(5:05) - Switch to weekly billing cadence for extra cycle/year.

(7:01) - Use ACH for lower processing fees.

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The Offer Is King | Ep 185 Mar 06, 2020

Show notes

Your offer can either make or break you. Today, Alex (@AlexHormozi) talks about the importance of having an exceptional and irresistible offer to grow a business. He provides examples of successful offers, discusses the three components of a good offer, and seven ways to ethically use free offers to acquire more customers at a cheaper price.

Timestamps:

(0:52) - The core offer should be exceptional and grow the business.

(2:54) - 3 Components of a good offer

(4:48) - 1st-3rd Free Offers: bribe, limited, and trial with penalty

(8:17) - 4th-7th Free Offers: with deposit, “forever”, giveaway, & with commitment

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When To Take The Chips Off The Table | Ep 184 Mar 03, 2020

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"The objective of a business is to make a profit (…) That is what separates it from a nonprofit.” Today, Alex (@AlexHormozi) discusses the importance of taking profits out of your business and investing in yourself rather than constantly reinvesting in the business. He emphasizes the cyclical nature of the business and the need to be disciplined in taking money out every month to increase net worth and prepare for potential downturns.

Timestamps:

(0:57) - Difference between reinvesting in business versus reinvesting in self

(3:00) - Take more money out to need to make more money

(6:18) - Losing on profit and valuation of business by keeping money

(9:26) - Rip out as much cash as possible every month

(12:33) - Prioritize maximizing monthly profits, keep in mind the cyclical nature of the business.

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How To Eliminate 2/3 of Your Declines in 2 Min | Ep 183 Feb 28, 2020

Show notes

Tip: ask for a backup card during the signup process. Today, Alex (@AlexHormozi) talks about their social media presence and provide a tactical tip on how to eliminate two-thirds of payment declines for recurring businesses by getting backup cards from customers during the signup process.

Timestamps:

(0:53) - Sale starts with signup process.

(1:29) - Get two cards after backup card request.

(1:37) - Swap card and rerun recurring members for fewer declines.

(2:22) - Implement to eliminate two-thirds of declines practically overnight.

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The Art Of The Downsell (Service Sale #1) | Ep 182 Feb 21, 2020

Show notes

"You always have that advantage cuz you are in the moment of truth." Today, Alex (@AleHormozi) discusses the importance of mastering the first sale in order to maximize throughput and revenue in a service-based business. He outlines a sales process that includes anchoring high, working down, and using humor and rapport to sell.

Timestamps:

(1:13) - 4 sales types

(2:45) - Service sale process with high anchor and downsell

(8:57) - Mastering first sale maximizes throughput with math breakdown

(11:46) - Importance of providing value and getting clients invested

(13:28) - Start high, work down with rapport and humor to sell

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The Value Equation - How To Reverse Engineer Pricing | Ep 181 Feb 18, 2020

Show notes

"The more I see the big companies (…) all I keep seeing is how they focus on removing barriers, on how they focus on removing friction" Today, Alex (@AlexHormozi) discusses the value equation and how to increase the perceived value of a product or service by decreasing the obstacles and friction that a prospect has to go through to achieve the desired outcome. He emphasizes the importance of focusing on the bottom side of the equation and removing pain and decreasing the bottom line for customers to increase the value of the product or service.

Timestamps:

(1:05) - Value equation has four pieces.

(2:23) - Detractors: delay, pull away from value charged. Actual time/effort.

(4:52) - Examples: Xanax vs meditation and Netflix.

(8:00) - Decrease time and effort to increase value.

(11:39) - Real value is removing pain, decreasing bottom side.

(15:04) - Differentiate value and squeeze time to win and keep customers.

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A Thought Process That Sickens Me | Ep 180 Feb 14, 2020

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"The thought of deserving something is literally the most entitled bullsh*t I've ever heard of in my entire life." Today, Alex (@AlexHormzi) talks about his thoughts on the concept of deserving something and how it bothers him. He also discusses his upcoming vacation and the importance of planning campaigns for the holiday season in order to boost business.

Timestamps:

(0:21) - The struggle with the concept of deserving

(1:20) - Unpacking the idea of deserving anything

(4:15) - The mindset of never feeling deserving

(6:52) - A reflection on identity and the fear of getting soft

(8:14) - Prepping for the fitness industry's hot season

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"I Forgot My Wallet" - Overcome | Ep 179 Feb 11, 2020

Show notes

"Ask for the ID first. That's what gets them to take their wallet out. That way they can't say they forgot their wallet." Today, Alex (@AlexHormozi) shares with us sales tips for overcoming the common objection of not having a credit card, including asking for ID to get the customer to take out their wallet and swapping their ID for their card.

Timestamps:

(0:43) - No one leaves home without credit card.

(1:39) - Ask for ID to verify info accuracy.

(2:39) - Suggest using different card if needed.

(3:52) - Walk out together if you have rapport.

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#1 Mistake I'm Seeing Gyms Make Right Now | Ep 178 Feb 07, 2020

Show notes

"Whisper it first. Then tease it. Then shout it." Today, Alex (@AlexHormozi) discusses the importance of creating hype and positioning when promoting new programs or services. He outlines a framework for building excitement and addressing potential customer pain points, and emphasizes the need to follow a deliberate and strategic approach to marketing.

Timestamps:

(1:50) - Don't just promote, address beliefs and information.

(3:58) - Send follow-up emails addressing pain points every other day.

(7:43) - The last 48 hours are for sign-up links.

(11:16) - Rules of selling don't change.

(13:52) - Even with marketing, there will be missed opportunities.

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