How To Fan The Flame of Explosive Growth in Your Business | Ep 84

The Game with Alex Hormozi

Alex Hormozi

Business, Education, Entrepreneurship, How To

4.9 • 4.8K Ratings

🗓️ 8 October 2018

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"Because once you have a deficit, then it means you can identify the gap and then you can solve it." Today, Alex (@AlexHormozi) talks about the importance of owning your circumstances and identifying the skills you lack that may cause your business to not be successful.

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:

(2:04) - Winners control their fate, not victims.

(3:15) - Own your outcomes and circumstances.

(4:17) - Identify deficits as skills to develop.

(5:43) - Invest in yourself and coaching.

(7:42) - Successful owners teach others for scalable success.

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Transcript

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0:00.0	Hey guys, love that you're listening to the podcast. If you ever want to have the video version
0:04.8	of this, which usually has more effects, more visuals, more graphs, you know, drawn out stuff,
0:09.2	sometimes it can help hit the brain centers in different ways. You can check on my YouTube channel.
0:13.3	It's absolutely free. Go check that out if that's what you are into. And if not, keep enjoying the show.
0:18.4	On everyone, hope you guys are having an amazing Thursday. I will make this short, but I woke up with
0:24.0	this idea today, or at least the topic that was on my mind. And it stemmed from one of the beta
0:30.8	tests that we're running. So if you don't know what we do as a company is, you know, behind the scenes
0:35.6	before we roll out any new execution or play marketing sales otherwise, we'll test it out with
0:41.7	15 or so gyms and 15 representative markets. And at any given time, we have four or five different
0:47.2	betas going for different aspects of the business. One might be, you know, how can we encourage shop
0:52.2	rates? How can we get this page to convert better? How can we, you know, increase the sales percentage
0:57.9	at a gym, whatever, right? And so we'll try out different scripts, whatever it is. And so we have
1:02.3	beta is going in at any given time. Now what I wanted to talk about today when I said the secret to
1:07.9	our, you know, explosive growth. And for those of you who don't know, I think in the last, I think
1:12.8	it's, I think we're almost a 24 months. Yeah, something like that. Anyways, we've gone from zero
1:18.9	to 30 plus million, which if you look at, like, think 500, we would be number one. We need one more
1:24.7	year in order to hit that. But that would be number one on the list by like two X or three X. So
1:30.9	it's pretty cool. But anyways, the secret to our explosive growth comes from consistent high
1:37.2	level of execution. It was like, well, yeah, but the, the story that I wanted to tell you to illustrate
1:41.6	this is that one of the betas that we're running all top secret, of course. I ran a competition
1:46.9	internally. And during that competition, everyone rushed their numbers for sales. And then what's
1:55.8	happened is that just in the last, you know, three, three days or four days since the competition
	...

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