Billionaire Recession Advice: Sell to the Rich | Ep 490

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 24 January 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

“Rich people have the same problems that poor people do. They just want them solved differently.” Today, Alex (@AlexHormozi) talks about how raising your prices will actually benefit you more than you realize & the implications of raising your prices, the strategies on how you can sell to the rich, and ultimately know which type of customer you're trying to sell to in order to create a successful business!

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:

(3:22) - 5 things you should know about raising prices from a customer’s perspective

(8:21) - 5 significant things that will change once you raise your prices

(16:27) - Solving rich people's problems & using the value equation

(22:54) - Rich people will always look for the “best", not “best value”

(31:21) - When you sell to rich people, you get to charge rich people prices

(35:41) - A lot of people’s prices are a reflection of their value of themselves.

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Transcript

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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.
0:25.2	More importantly, it may change the world of someone else.
0:28.2	Solving rich people problems allow to charge rich people prices.
0:31.6	They pay better, they're easier to work with, and ultimately they allow you to build a business
0:35.7	that can withstand different seasons and be in a position to succeed longer.
0:42.0	The wealthiest people in the world see business as a game.
0:44.2	This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building
0:47.9	acquisition.com into a billion dollar portfolio.
0:50.3	My hope is that you use the lessons to grow your business and maybe someday soon
0:52.9	partner with us to get to $100 million in beyond.
0:54.9	I hope you share and enjoy.
0:56.8	One of the biggest secrets that people who make a lot of money have is that they know which
1:02.0	type of customer they're trying to sell to.
1:03.7	When people are poor, they tend to sell out of their own wallet.
1:07.6	They sell using their perception of what money is.
	...

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