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The Game with Alex Hormozi

“Tiny Market, Big Money” & Common Entrepreneur Mistakes (on Foundr Stories) Pt. 2 - Feb '22 | Ep 436

The Game with Alex Hormozi

Alex Hormozi

Business, Education, Entrepreneurship, How To

4.94.8K Ratings

🗓️ 17 September 2022

⏱️ 20 minutes

🧾️ Download transcript

Summary

And if you give more than you take, the marketplace will always reward you... Today, join Alex (@AlexHormozi) as he guests on Foundr Stories’ YouTube to talk about some of the common mistakes that are happening in the entrepreneurial space, break down the concept of “tiny market, big money”, and how you speak, think, & approach scenarios and situations are going to predicate how successful you are in any endeavor you do. This is part 2 of the interview.

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.

Check out the episode on Foundr Stories’ YouTube Channel!

Timestamps:

(1:04) - "Tiny market, big money" process: Find lucrative niche markets.

(4:22) - Manage 100x price increases and attract more clients.

(6:13) - Key takeaway from educational efforts?

(9:24) - Entrepreneurial mindset: Acquired or innate skills?

(15:03) - Common 2021 entrepreneur mistakes.

(17:51) - Rapid-fire: Money, 10-year vision, and more.

Follow Alex Hormozi’s Socials:

LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Transcript

Click on a timestamp to play from that location

0:00.0

Mosin Nation, welcome to part two of the Founders podcast that we are continuing from last episode.

0:05.0

First thing we're talking about is big money in tiny markets. It's something

0:08.0

they're very passionate about and there is lots of money there and I'll talk about how to unlock it within your own business.

0:12.0

Second thing is how you speak and how you think and how you approach scenarios and situations is going to predicate how successful you are in any endeavor you do,

0:20.0

especially entrepreneurship and how to break that down as a business owner.

0:23.0

And we bring it home with the biggest mistakes that I see entrepreneurs making in the space right now that you may be making and candidly,

0:30.0

you probably are making if you're not growing at the rate you want to. This is not me projecting it onto you.

0:34.0

I'm just trying to help you fast track and shortcut to a place that you want to be faster.

0:38.0

So I hope you guys enjoy this as much as I enjoyed making it for you.

0:41.0

I had all the gyms, I did the turn rounds and then I had zero dollars five years later because of mistakes that I made.

0:47.0

But the things that I was gaining was not the money, it was skills, there's the character traits and the beliefs.

0:54.0

Welcome to the game where we talk about how to get more customers, how to make more customers,

0:58.0

how to keep them longer and the many failures and lessons we have learned along the way.

1:01.0

I hope you enjoy and subscribe.

1:05.0

Can you tell me also about kind of the tiny market big money process?

1:10.0

Like how you finding niche markets that are overflowing with cash?

1:16.0

I would say they're not necessarily overflowing with cash, but I think if we can apply a standardized framework to how we approach their business,

1:24.0

this sounds silly, but like you can plug into the universe's money and then you can have as much money as you want.

1:30.0

So for example, let's say I was working with, you know, hair stylists.

1:34.0

Typically not what most people would consider a very affluent, you know, demographic.

1:39.0

Now there's plenty of them and it's definitely a niche, but they're not considered I would say, you know, super wealthy.

1:44.0

But if I know how to market and sell and deliver high value services and I show them how to do that,

...

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