Create Things That People Never Stop Buying | Ep 348
The Game with Alex Hormozi
Alex Hormozi
4.9 • 4.8K Ratings
🗓️ 25 November 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
Buy, buy, buy! Today, Alex (@AlexHormozi) talks about one of the most insightful takeaways he had when he sold his business and the criteria they look at now when buying companies.
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:
(1:14) - Sell something people will never stop buying
(3:53) - Optimize for never-ending demand, provide best value
(4:25) - Create customer surplus, exceed price with higher value
(8:04) - 3-step process: promote, optimize, deliver value for success
Follow Alex Hormozi’s Socials:
LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition
Transcript
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| 0:00.0 | Real quick guys, if you can think about how you found this podcast, somebody probably |
| 0:03.8 | tweeted it, told you about it, shared it on Instagram, or something like that. |
| 0:07.5 | The only way this grows is through word of mouth. And so I don't run ads, I don't do sponsorships, |
| 0:12.2 | I don't sell anything. My only ask is that you continue to pay it forward, do whoever showed you, |
| 0:16.4 | or however you found out about this podcast that you do the exact same thing. So if it was a review, |
| 0:21.0 | if it was a post, if you do that, it would mean the world to me and you'll throw some good comment |
| 0:24.3 | out there for another entrepreneur. One of the biggest and most profound takeaways that I had |
| 0:28.6 | from selling that business and what we look at when we're buying our own companies. |
| 0:33.3 | Welcome to the game where we talk about how to get more customers, how to make more |
| 0:36.3 | customers, how to keep them longer, and the many failures and lessons we have learned |
| 0:39.5 | along the way. I hope you enjoy and subscribe. I'm willing to go my wife and I sold our |
| 0:44.4 | eight figure software company and that deal closed 30 days ago. And so what I wanted to share |
| 0:49.8 | with you was one of the biggest and most profound takeaways that I had from selling that business, |
| 0:55.4 | and what we look at when we're buying our own companies. If you guys don't know who I am, |
| 1:00.2 | I'm Alex from azionacquisition.com or my wife and I ownacquisition.com. Our portfolio is about |
| 1:05.1 | $85 million dollars a year in revenue and I have nothing to sell you. So what I want to talk about |
| 1:09.3 | today is one of the things that took me way too long to realize in looking at creating products |
| 1:15.1 | and ultimately buying and selling businesses that are valuable, right? And the biggest piece or |
| 1:21.5 | biggest takeaway that I've had in creating quote fortunes is understanding one concept. It's so |
| 1:28.0 | simple to understand and so hard to do. The key, the one way direction to creating a fortune |
| 1:37.5 | through business is to only sell things that people do not stop buying. I'll say it again. |
| 1:44.9 | The way to create a fortune in business is to only sell things that people do not stop buying. |
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