4.9 • 4.4K Ratings
🗓️ 19 August 2023
⏱️ 55 minutes
🧾️ Download transcript
“I hope what you're giving them is worth it.” In this episode, Alex (@AlexHormozi) the pricing and commodity problem that most businesses face, along with the importance of having a Grand Slam offer to differentiate your product based on value, not price. He also emphasizes the three ways to grow a business: get more customers, increase their average purchase value, and get them to buy more times.
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.
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Timestamps:
(0:47) - Pricing The Commodity Problem
(16:37) - Finding the Right Market
(42:18) - Charge What It’s Worth
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0:00.9 | Hey guys, this is another special edition collaboration between the game podcast and $100 million offers. |
0:07.0 | Today we're going to break down the pricing and commodity problem. |
0:10.0 | This is the number one issue that most businesses have and why they can't make enough profit. |
0:14.0 | The starving crowd problem, which is that they're selling to people who don't have enough pain, who are hard to find, |
0:20.0 | who are in markets that are not growing, and there's an easy fix for that. |
0:23.4 | And I'll walk you through the process. |
0:25.3 | And the third chapter we'll go over today is charge what it's worth. |
0:29.9 | All right, this is probably one of the biggest unlocks for the majority of people who have listened to the book in the many messages and reviews that I have read of it. |
0:36.8 | These upcoming chapters are heavy hitting, and I hope you enjoy them. |
0:43.4 | Section 2. Pricing. How to Charge Lots of Money for Stuff. |
0:47.5 | Chapter 3. Pricing, the commodity problem. |
0:50.8 | Think different. Steve Jobs. |
0:53.8 | Go or die is a core tenant at our companies. |
0:56.0 | We believe every person, every company, and every organism is either growing or dying. |
1:01.0 | Maintenance is a myth. |
1:02.0 | What this means is, if your company isn't growing, it's dying. |
1:06.0 | This is a sobering reality for many of us. |
1:08.0 | I learned the hard way, and my business suffered for a long time |
1:11.7 | because of it. Let me explain. The market is continuously growing. The stock market grows at 9% |
1:18.4 | per year. If we aren't growing at 9% per year, we are falling behind. Maintenance, in the most |
1:24.0 | generic sense, would be 9% per year growth, year over year. Furthermore, if you enter growing marketplace, then you might have to grow at 20% to 30% per year, |
1:33.3 | just to keep up or risk falling behind. |
... |
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