On today’s episode of The Fighting Entrepreneur, Anik welcomed Alex Hormozi, the entrepreneur behind Gym Launch and Prestige Labs. He’s also the co-founder of Acquisiton.com.
There’s a saying that Alex lives by “you only need to get rich once.”
And in his discussion, he shared 4 core concepts that he has used to directly bring more money into his businesses.
They’ve been so successful for him that he was able to make more money in one year than the CEOs of McDonald’s, Ikea, Ford, Motorola, and Yahoo! COMBINED.
Not to mention, he did this all in his 20s…
By the time he turned 32, he and his wife Leila’s portfolio of companies had crossed $85 million per year in revenue.
So when he says he has strategies that make money, we TRUST him.
Here’s what he shared on today’s episode of The Fighting Entrepreneur…
Alex’s Strategies For Boosting Revenue
Alex has a formula when it comes to creating offers. As he says “offers are the fastest shortcut to material success in any business.”
When Alex decides to help a business, one of the first things he covers is the company’s offer.
He says that the offer is usually one of the biggest problems for a business, especially if their ads or opt-ins are not converting as well as the owner would like.
The first core strategy Alex recommends is “decommoditizing the offer.”
What exactly does that mean?
It’s all about making your product VALUE-based, instead of price-based.
Think of it this way: if you have 2 products that are very similar, people will compare them and almost always choose the cheaper one. That means the offer is price-based.
With a value-based offer, you’re showing the customer something unique they can’t get anywhere else. They will pay whatever price you sell for, as long as the VALUE is there.
Make sure the VALUE of the offer is presented first and foremost.
This can be done for ANY business. And best of all, having a value-based offer will dramatically improve your leads, conversions, and sales.
“Make the offer so good, people are afraid to say no,” Alex says.
His second core strategy is “finding the right market.”
It might sound simplistic, but Alex is always urging his clients to find the people they can provide the most value to.
That’s how you choose your target market.
Think of it this way. You can set out with a potential client target that’s “small business owners.” Instead, think of getting much more specific. Let’s say you only want to target “chiropractors.”
Working for that first chiropractor as your client will require a lot of work, but by the time you get to #100, you’ve probably done all the stuff that’s most time consuming. Now, you have everything set up and can help that client MUCH faster.
Not to mention, because your offer is more SPECIFIC, the value you provide them is MUCH higher.
That of course means a higher price point.
Now, those were just the first 2 core strategies Alex discussed in today’s episode.
You can listen to the full interview, right here.
During his discussing Alex also went into detail on:
Specific case studies from his clients…
His 3rd and 4th core sales strategies…
The biggest lessons he’s learned as an entrepreneur…
How to increase your perceived value…
How to convert leads into customers…
It was a fascinating episode, and a close-up look at the strategies that have made Alex millions of dollars.