Pain is the Pitch - Business Logical Fallacy | Ep 175
The Game with Alex Hormozi
Alex Hormozi
4.9 • 4.8K Ratings
🗓️ 31 January 2020
⏱️ 13 minutes
🧾️ Download transcript
Summary
"Talk about in terms of pain avoidance (…) people tend to be more responsive to it." Today, Alex (@AlexHormozi) discusses the importance of availability for making sales and the difference between talking in terms of pain avoidance versus opportunity for gain. He shares a story about reframing his message to gym owners and seeing a huge response as a result, and emphasizes the importance of using math to guide business decisions instead of emotions.
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:
(0:37) - Importance of availability for sales; availability impacts marketing throughput.
(2:56) - Wasting two-thirds of ad spend.
(4:09) - People focus on avoiding pain instead of seeking opportunity for gain.
(7:11) - Opportunity for gain and pain avoidance as math.
(8:14) - Let the math guide you, not your emotions.
(11:10) - Gym owners need availability for business 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. |
| 0:18.9 | Welcome to the Jim Secrets podcast where you talk about how to get more customers, how to make |
| 0:22.4 | more per customer and how to keep them longer. And the many failures and lessons that we have |
| 0:26.4 | learned along the way, I hope you enjoy and subscribe. I wanted to tell you a story about something |
| 0:31.8 | that happened recently that was impactful for me and was just another one of the we need to be |
| 0:38.3 | reminded more than we need to be taught lessons. And it happened this Friday on our legacy release call. |
| 0:45.0 | And so if there's you don't know, like every other Friday or so, I kind of release new stuff, |
| 0:51.1 | trainings, information, whatever, to our general community. And for the last, I would say, |
| 0:57.4 | month and a half, maybe two months, I've been trying to get across this one point, which is the |
| 1:02.9 | importance of availability for making sales. Simply put, I mean, right now, because we have so much |
| 1:08.9 | data support this, like the number of hours and number of time slots per day that you have, |
| 1:13.7 | and the number of days that you were available to take sales appointments is a massive impact on |
| 1:18.6 | your throughput of marketing. What I mean by that is for the amount of eyeballs, |
| 1:22.4 | clicks that turn into customers, right, throughput, they have to go through all of the steps |
| 1:26.4 | in your sales process, right, from click to opt-in to apply to schedule to show to close, right, |
| 1:33.6 | all the way through, like that's throughput, right? And so availability, I don't know, I'm going to |
| 1:39.7 | tell you the story about how this came to be. But I've been trying to get our gyms to increase |
| 1:45.6 | their availability, like you need to find a way to be available more times, like if you're only |
| 1:50.4 | available for three hours in the afternoon, four days a week, you're just not going to make that much |
... |
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