Part 7: $100M Offers Book | Ep 585

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 19 August 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

“Change here usually just creates inefficiency and operational drag, costing you money, no bueno.” In this episode, Alex (@AlexHormozi) discusses the importance of naming your product or service and how it can attract the right customers and repel the wrong ones. He also shares a formula for creating compelling names and offers tips on how to keep your offers fresh to prevent them from becoming fatigued in the market.

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.

Get your own copy of the book at acquisition.com/books

Wanna scale your business? ⁠Click here.⁠

Timestamps:

(0:29) - Naming

(15:29) - Execution

(18:51) - Summary & Closing Credits

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Get access to the free $100M Scaling Roadmap at www.acquisition.com/roadmap

Transcript

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0:00.0	Hey guys, welcome back to the last episode of $100 million offers.
0:04.5	We're covering three chapters today.
0:05.7	Naming execution and closing credits.
0:08.0	Naming is going to be the biggest heater here.
0:10.7	It is a dark horse.
0:12.0	It is one of the things that's useful for if you're a local business, if you're an e-commerce
0:15.3	store, if you're a software company, if you sell services or anything in between, if you sell stuff to people naming it the right way, we'll get the right people to buy it the wrong people not to buy it and ultimately make you way more money. Enjoy.
0:29.6	Chapter 14 Enhancing the offer. Naming
0:33.6	Implicit egotism effect. We are generally drawn to the things and people that most resemble us.
0:39.3	Magic headline formula.
0:42.3	Like the tree that falls in the forest that no one hears, having a grand slam offer will not make you money if no one finds out about it.
0:48.3	The goal must be that upon hearing about your offer, your ideal prospects are interested enough to take action. Naming it properly
0:54.8	is an integral part of this process. Here's an example. Say you see a free six-week stress
1:00.2	release challenge and a float-take center session. While they may be the same thing, just
1:05.2	name differently, you're much more likely to respond to the first. Now here's the rub. Over time, offers fatigue, and in local
1:12.8	markets, they fatigue even faster. Why? In a local market, it costs relatively little to reach
1:18.2	an entire population. On most platforms, you can reach 1,000 people for about $20. So if there are
1:23.4	200,000 people in your addressable area, then it would only cost you $10,000 to reach all of them
1:27.8	one time. Important disclaimer. Reaching an audience one time in no way means an offer is fatigued. Most
1:34.3	people don't even notice an offer the first mention. That's why you need to create new creative,
1:39.1	videos and images, and new hooks, stories, and copy around the same offers. You can still use offers for a long time, but when we're talking about years of use, not months,
1:49.0	offers can eventually fatigue.
	...

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