4.9 • 4.4K Ratings
🗓️ 16 August 2024
⏱️ 43 minutes
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"Most small businesses don't grow as fast as they could because they spend their time working on the wrong things." In this episode, which is an excerpt from an audience Q&A, Alex (@AlexHormozi) simplifies what most businesses are doing wrong in and the 4 key levers to pull to fix things.
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 and will learn on his path from $100M to $1B in net worth.
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0:00.0 | There are four big levers in your business that could be messed up. |
0:03.2 | I'll show you how to figure out which one it is and how to fix it so you can scale your business. |
0:07.2 | Most small businesses or even mid-sized businesses don't grow as fast as they could because they spend their time doing the |
0:13.2 | wrong things. There's a lot of things that can make the business more money. |
0:16.0 | The question is just which of these things will make it the most money. |
0:18.4 | And so by doing that we have to because we have to reverse back, we had those four levers that I had earlier. |
0:25.1 | We've got traffic, we've got conversion, we've got price, and then we've got churned. |
0:28.8 | So there's the big four things. |
0:30.4 | And so if we want to grow the business, those levers have to change or the business will not grow. |
0:35.0 | And so for many of you, it might just be you need more traffic. |
0:40.0 | Like the business model is fine, the economics are fine, and you need more traffic. |
0:45.8 | And so basically at least my thought process that I have with this is I try and scale as much |
0:51.0 | as I possibly can until something breaks. And then when it breaks, we fix that |
0:55.6 | thing and then go back to scaling the shit out of it again. I mean fundamentally, that's what we do. |
1:01.1 | And I mean, I teach this at for businesses but I'll walk you |
1:06.6 | through it what is going to go to these four levers that we talked about earlier |
1:10.0 | right which is going to be your traffic, your two f's there, whatever conversion, which is you tweaking your |
1:18.4 | about page, making a VSL that's better adding carousel images, tweaking the bullets that you have on your |
1:23.3 | landing page you've got the price which you can test and then you've got churn |
1:27.5 | right which has a big list of things that you can do so these are the four |
1:30.9 | levers the things that you're doing have to ladder up to one of these four things why are you doing it? |
1:35.5 | All right, so like if we were to translate your objective with the free group you would have to say okay |
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