Take-Aways From Our 30k Mastermind | Ep 18

The Game with Alex Hormozi

Alex Hormozi

Business, Education, How To, Entrepreneurship

4.9 • 4.8K Ratings

🗓️ 19 August 2017

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"Retention is the reason that you can't grow." Today, Alex (@AlexHormozi) talks about the importance of retention in the gym business and shares insights from a recent weekend meeting with gym owners. He emphasizes the need to track retention numbers and offers tips on how to keep customers and grow your business.

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:

(1:32) - Retention is crucial for gym profitability.

(2:33) - Acquire, retain, and increase gym sales.

(4:04) - Continually deliver value, not just contracts.

(4:35) - Calculate retention rate, focus on satisfaction and loyalty.

(6:52) - Track retention numbers, identify patterns, improve retention.

(7:32) - Cutting attrition easier than acquiring new customers. Focus on retention.

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Transcript

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0:00.0	What's going on everybody?
0:01.0	I'm bringing some more books, but I wanted to say that if you haven't checked out $100
0:03.8	million offers, I would definitely suggest that you start there.
0:06.3	I've gotten some solid feedback and it couldn't be happier with this number one ranking
0:09.9	on Amazon for direct marketing and over 5,000 five star reviews.
0:13.8	So thank you guys so much for that.
0:15.2	It's 164 pages.
0:16.2	I really can help you out.
0:17.8	It takes about four hours to get through.
0:19.6	Check it out on Amazon.
0:20.6	The Kindle book is 99 cents.
0:22.5	The audiobook is as low as they'll let me put it on for it.
0:24.7	So I think it's 12 bucks.
0:26.2	So enjoy that and let's start the podcast.
0:29.5	What's up everyone?
0:30.5	This is Alex and we just had an amazing weekend.
0:34.1	All my gym loads came into town and we got to spend 12 straight hours, two days.
0:39.1	It actually gets it's 10 hours, both days, so it's 20 hours, whatever.
0:42.9	There's a lot of hours.
0:43.9	Basically going deep, diving deep into the fitness gym business and I want to give you
0:52.0	some of the sweet takeaways.
0:54.8	So the first thing is at one point we did a little stand-up thing.
	...

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