How to Handle Mess Ups | Ep 711

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 15 May 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

“There is no more useless emotion than feeling sorry for yourself.” Today, Alex (@AlexHormozi) delves into the crucial role of handling mistakes in business and transforming them into opportunities. He provides tactical advice on exceeding customer expectations, empowering teams to proactively address issues, and the long-term benefits of customer satisfaction, all key strategies for turning dissatisfied customers into brand champions.

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:

(0:16) - Turning mess ups into opportunities

(2:50) - Transforming negative experiences into positive outcomes

(5:05) - Principles of handling mistakes effectively

(10:09) - The angry boat strategy: How to own your mistakes

(15:33) - Creating brand champions through exceptional service

(22:47) - Tactical advice for businesses & empowering your team

(24:25) - The long-term benefits of making things right

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Transcript

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0:14.0	Everybody mess up. It's part of business. Your employees are going to mess up. You're going to mess up as a boss. Your customers are going to think you messed up even when you didn't mess up. Messing up happens. And so if you act every time like you have never had a mess up before, then you are going to mess up even worse.
0:16.8	And so in this podcast, I'm gonna talk you about three different stories
0:20.0	about big mess-ups that I have done
0:21.7	and been an experienceer or of and some tactical things
0:24.6	that you can do that have made our businesses
0:26.4	so much better and turned one-star reviews
0:29.0	into five-star reviews and the step-by-step process
0:31.6	thinking through that.
0:32.6	What do you do when you mess up?
0:34.6	Right?
0:35.3	Because you're gonna mess up in business.
0:37.0	You're gonna mess up with a customer.
0:38.3	You're gonna build someone the wrong amount.
0:41.3	You're gonna give someone the wrong date, you're going to
0:43.0	forget to on board someone, you're going to have a package that doesn't get delivered,
0:46.2	it gets delivered to the wrong address, you're going to you're going to on board someone and put the
0:49.9	wrong company's logo on it. And every one of those examples that I just said
0:53.9	is something that we have done at some point in my career.
0:56.8	And so I want to tell you two stories.
1:00.5	And then I want to drive home a couple of principals that have served us well. Use them if you want, but they have worked pretty well for us.
1:07.0	And so I'll tell you two kind of polar extremes.
1:10.0	So I buy a lot of gym equipment, even though I'm not even in the gym
	...

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