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The Game with Alex Hormozi

4 Ways To Build A Growth Flywheel For Your Business | Ep 809

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.94.4K Ratings

🗓️ 19 December 2024

⏱️ 18 minutes

🧾️ Download transcript

Summary

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 and will learn on his path from $100M to $1B in net worth.

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Transcript

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0:00.0

The highest percentage of sales across any market come from word of mouth.

0:04.8

It's from people telling other people about stuff and people seeing other people use products and being like, hey, what is that?

0:13.0

Welcome to the game.

0:14.4

Every business needs a growth flywheel.

0:17.8

And in this podcast, I'm going to show you four different tactics to basically building the growth flywheel. And in this podcast, I'm going to show you four different tactics to basically

0:23.1

building the growth flywheel within the business so that eventually it doesn't require

0:27.4

you to put the effort and money to advertise and promote it to drive growth. But let the business

0:31.9

itself create the inputs that then create the outputs. So every business begins with effort and money from the founder or investors that begin the

0:42.8

business.

0:43.3

And this is kind of the initial, call it the spark that starts the business.

0:48.5

So this goes into the business.

0:50.8

Long term, you don't want effort and money to go into the business.

0:54.1

If anything, you want those things come out of the business. But it starts with the inertia effort and money to go into the business if

0:54.2

anything you want those things come out of the business but it starts with

0:57.0

the inertia we have to get it going and so from there you begin to get customers

1:01.7

right so you advertise you sell and people come in the door and they buy your

1:06.9

stuff or they go to your site or whatever. Now once customers come in they get

1:11.8

some sort of result. Now after they get the result you then have some sort of

1:17.9

reviews or word of mouth that those results will generate and then that can then in

1:24.6

turn get you more customers and so this initial effort of money goes into the system, that gets you customers, those customers

1:31.5

get results.

1:32.8

Those results drive reviews and word of mouth, which then get you more customers.

...

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