The 7 Components of a Closed Deal | Ep 228

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 11 August 2020

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When one deal closes, another opens. Today, Alex (@AlexHormozi) shares with us a very simple formula called B.A.N.T and the other 3 components that will help you close deals easily. You’d be surprised at how simple but very effective these factors really are!

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(1:49) - Alex quickly discusses the B.A.N.T Formula - Budgeting, Authority, Need, and Timing. Unless a buyer has all four of those things, they cannot and will not buy on the flip side

(2:54) - The 3 Ten’s (aka the three requirements from a seller to a buyer): product is going to solve their problem, they trust that the salesman is honest and that they trust the company

(5:21) - Alex shares how he was able to apply the B.A.N.T & The 3 Ten’s formula for Gym Launch. In short, they set those as prerequisites and requirements of the buyer, then it massively facilitates the sales process

(7:32) - The moment these formulas were applied to Alex’s business, they made more money even though they had two and a half X, fewer opportunities

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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	There's actually four requirements from the buyer to the seller and three from the seller
0:34.4	to the buyer.
0:36.1	Welcome to the game where we talk about how to get more customers, how to make more
0:38.7	per customer and how to keep them longer and the many failures and lessons we have learned
0:42.0	along the way.
0:43.0	I hope you enjoy and subscribe.
0:44.7	What's going on everyone?
0:45.7	Happy Friday.
	...

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