$50k Consulting in a Nutshell [This is 🔥 for anyone who understands strategy] | Ep 240

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 25 September 2020

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Profit is what begets growth. Today, Alex (@AlexHormozi) talks about what he does on $50,000 consulting days when he’s talking to high-level business owners and walks us through one of the biggest mistakes he has made that involves the front end. Remember: Once you have a product that is a very well-oiled machine on the back end, it takes a tremendous amount of effort to change your machine.

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(2:07) - The goal is to not increase the complexity of the business but rather decrease it & focus on improving the front and backend of a business

(6:49) - the factors to consider when dealing with front and backend & Alex shares with us the mistake he made with scaling

(12:27) - The bigger the business is, typically the simpler it has to be because simple is the only thing that scales

(16:27) - The objective is “How can I create the most leverage for the person I’m talking to?” and “How can we simplify and make the backend more profit?”

(17:44) - The greater the arbitrage (between the cost of acquisition vs. lifetime value), the more money and profit you'll ultimately make

Follow Alex Hormozi’s Socials:

Transcript

Click on a timestamp to play from that location

0:00.0	Real quick, you guys already know that I don't run any ads on this and I don't sell anything.
0:04.6	The only ask that I can ever have are you guys that you help me spread the words.
0:07.8	We can not more entrepreneurs, make more money, feed their families,
0:10.9	make better products, and have better experiences for their employees and customers.
0:14.9	The only way we do that is if you can rate and review and share this podcast.
0:19.4	The single thing that I have to do is leave review,
0:21.9	take you 10 seconds or one type of the thumb,
0:23.9	it would mean the absolute world to me, and more importantly,
0:26.0	it may change the world of someone else.
0:28.4	What could you do to add $5 million to your bottom line without doing anything?
0:33.5	What could you do to add $10 million to the business without adding anything?
0:38.2	Any humans, any people?
0:40.9	Welcome to the game where we talk about how to get more customers,
0:43.2	how to make more customers, how to keep them longer,
0:45.2	and the many failures and lessons we have learned alone the way.
0:47.6	I hope you enjoy and subscribe.
0:49.6	Good morning everyone, happy Saturday.
0:51.9	I am a super pumped for this podcast because I'm going to talk about
0:58.2	what I do on 50,000 hour consulting days that I sell when I have higher
1:01.8	little business owners that come in.
1:03.6	I'll walk you through the biggest mistake that I've made for a business standpoint.
1:07.1	I think it's the number one biggest mistake that I've made that set me back hard along.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Alex Hormozi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Alex Hormozi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.