4.9 • 4.4K Ratings
🗓️ 26 July 2024
⏱️ 23 minutes
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"The reason why this thing is really fast is the same reason why it's not going to make you a billionaire" In this episode, Alex (@AlexHormozi) He breaks down the pros and cons of the education or coaching business, how quickly it can scale, but the roadblocks to scale that it's likely to run into along the way.
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 | The easiest business to start to make a million dollars a year is also the hardest business to get to a hundred million dollars a year. |
0:05.3 | And I say this is someone who's both a product of the education space, which is by the way, wink wink, the business model I'm going to talk about. |
0:12.3 | But I've also to talk about. |
0:13.2 | But I've also done 100 million plus in sales |
0:16.5 | in that business and sold my last one for 46.2 million. |
0:19.6 | And so I have a very good understanding |
0:21.0 | of being both a customer in that industry and a supplier of that industry. |
0:24.0 | And so I want to make this video for two types of people. |
0:26.0 | First is somebody who's like, hey, I want to start a business. |
0:29.0 | And the second is for people who have a business and they're considering switching into an education or coaching business. |
0:34.3 | And this business and this video is going to talk about the pros and cons on both sides |
0:38.9 | and the two biggest considerations that you have to make. One is, what's the goal that you're actually solving for? |
0:44.1 | Believe it or not, the reason that this thing is really fast |
0:46.8 | is also the same reason why it's not gonna make you a billionaire. |
0:50.0 | On the second problem, or the second thing that you have to consider is what problems are going to come up for each of these businesses and which ones you're better at solving. |
0:57.0 | The problems that are in this business are the opportunity in this business and the problems in this business are the opportunity in this one. |
1:03.0 | And that's why this thing can be mega, mega big, takes a little longer. |
1:07.0 | This one can get moderately big really fast, but really hard to scale from there. |
1:11.0 | So let's dive in. |
1:12.0 | Coaching, information, education, digital course, membership businesses are among the easiest |
1:18.0 | businesses to get to $100,000 a year, $100,000 a month, $200,000 a month, |
1:22.4 | but this is what the business looks like |
... |
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