The 5 Stages of Niche Hopping... | Ep 221

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 17 July 2020

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You have to pick one which you can win at. You can’t win with all. Today, Alex (@AlexHormozi) talks about one of the common mistakes new entrepreneurs make: niche hopping, discusses the 5 stages that the entrepreneur will go through, and why picking just one is way better than spreading yourself too thin. Note: there is no shortcut, you have to put in the work.

Welcome to The Gym Secrets Podcast where you can listen in on the Top 1% of Gym Owners to hear the secrets of what they are doing differently to get more customers, make more profit per customer, keep them longer, and do it all without sacrificing their personal lives. We've got roll up your sleeves kind of hustle with a little bit of cleverness and a lot of heart. We are 1% of gym owners and this is our podcast. Hosted by Alex Hormozi.

Timestamps:

(1:44) - Alex shares a story of a time when he owned multiple businesses thinking it would make more money. Spoiler: it didn’t

(3:36) - The 5 stages of Niche Hopping that every new entrepreneur will go through: Uninformed Optimism / Informed Pessimism, Valley of Despair, Going Through The Sh*t, Informed Optimism, and Achievement. Alex dives into each stage

(7:22) - You will never get to the eight-figure goal unless you confront the problems going on in your head instead of running away from them (which results in niche hopping)

(9:33) - And the only way to win is to be better. And the way to be better is to stick through the sh*t (the third step) where everyone bails

(11:28) - The reason Gym Launch became successful is that every single step of the process they made it a point to keep on testing and making sure they can improve on their systems

(14:22) - I'm not gonna do six niches. I'm gonna pick one and I'm gonna get really good at it, And that's what I'm gonna do. And when it gets hard, I'm gonna stick with it

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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.
0:29.2	And I'm saying this and if this affects you, I'm purposely doing it this way because I'm
0:34.1	not going to help you unless we break some beliefs.
0:37.4	All right.
0:38.4	And that's what has to happen.
0:39.9	Welcome to the Jim Seagrard's podcast where you talk about how to get more customers,
0:42.8	how to make more per customer and how to keep them longer.
0:45.3	And the many failures and lessons that we have learned along the way.
0:48.5	I hope you enjoy and subscribe.
	...

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