Niches & Opportunities, Decision-Making, and Repetition (on Omar Elattar & The Passionate Few) Pt. 2 - Aug '21 | Ep 430
The Game with Alex Hormozi
Alex Hormozi
4.9 • 4.8K Ratings
🗓️ 3 September 2022
⏱️ 28 minutes
🧾️ Download transcript
Summary
Everyone sabotages themselves simply based on expectations. Today, join Alex (@AlexHormozi) as he guests on Omar Elattar & The Passionate Few’s YouTube to talk about the importance of picking the right niche, the decision-making framework that he uses when confronted with hard choices, and the value of volume in repetition in skill development. This is part 2 of the interview.
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.
Check out the episode on Omar Elattar & The Passionate Few's YouTube Channel!
Timestamps:
(1:03) - Package deliverables, ad spend questions, and niche importance insights.
(10:19) - Alex's decision-making framework for hard choices and emphasizing hard work.
(23:16) - Is selling something aiding money-making the ultimate goal?
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Transcript
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| 0:00.0 | Most nations are very proud to bring you part two of the passion if you podcast that do with Omar Elatar in this podcast talk about three main things. |
| 0:07.0 | One is the importance of picking the right niche for your opportunity that you're pursuing second the decision making framework that I use when I'm confronted with hard choices and business which happen every single day and that you can use for your business. |
| 0:18.0 | And three, the value of volume repetition in skill development and how we have to break the narrative that society gives us out about instant and immediate gratification just because you do the work doesn't mean you deserve the result. |
| 0:30.0 | I hope you guys enjoyed this Messiah and Joy making it for you. |
| 0:33.0 | So Jeff Bezos says, if you have a 10% chance of 100 times payout, just take that bet every time. |
| 0:40.0 | Two times payout for one on 10 bet to make it more realistic. Example, what if you had a hundred dollars in the minimum bet was 25? |
| 0:48.0 | It's only have two roles, but the risk you're not sure is there, but you only have two roles. |
| 0:52.0 | Welcome to the game where we talk about how to get more customers, how to make more per customer, how to keep them longer in the many failures and lessons we have learned along the way. |
| 0:59.0 | I hope you enjoy and subscribe. |
| 1:03.0 | What were the deliverables or how are you packaging it? And the reason I ask is because a lot of entrepreneurs out there, they may have this expertise or be building up to it and they have a hard time figuring out how to package it right. |
| 1:14.0 | You can't sell it in a package. |
| 1:16.0 | So did you kind of audition different models. I'm sure over time you have, but initially that first round, how did you package it? |
| 1:22.0 | Was it a eight week program? Was it a 12 weeks? 12 weeks in the beginning. |
| 1:27.0 | And after I sold 100, I made it a 16 week program and it's been 16 weeks since then 16 weeks has worked out well. |
| 1:33.0 | That was the program. I mean, I think the big difference between, you know, most of the things that exist and what we did and what made Jim much special was the average client made $30,000 in the first 30 days. |
| 1:44.0 | I will beat that slowly for everyone who's listening. My average client. So if I sell 100 people, the average person made $30,000 in their first 30 days. |
| 1:54.0 | So when people are like, I want to replicate what Jim went to it. I'm like, well, then replicate the results that we created. |
| 1:59.0 | And then maybe we'll be able to replicate the success. But everyone thinks that like everyone thinks it's the funnel. |
| 2:04.0 | Like it's a three step funnel. Everything like it's not that, you know, I mean, like you can look at it online right now. |
| 2:10.0 | Like you're not going to copy the business because of the funnel, right? It's because of the delivery. It's because of the product. |
| 2:14.0 | And because I was so sick and I hated the guru space and all that stuff, I was committed to not being a Jim guru. |
| 2:20.0 | I was so committed to it that I ended up becoming probably the biggest one. |
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