Why I've Been Stuck At ~$30M/Yr for 3 Years | Ep 229

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 14 August 2020

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You need profit in order to grow. Today, Alex (@AlexHormozi) talks about his experience on why he’s been stuck at $30M per year, the rule called “3 and 10”, how the four beliefs behind that rule can help you get out of that rut if you follow it properly, and how he will overcome this hurdle in his entrepreneurial journey.

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:

(1:15) - Alex shares his struggle as to why he’s been stuck at $30M/Yr for 3 years and an idea he learned from a mentor called “the Chinese rule of 3 and 10”

(2:28) - There are 4 big beliefs: willing to spend more on marketing, pricing, hiring more salespeople, and talent. Alex discusses each belief

(8:26) - The reason why Alex has been stuck for 3 years: it was himself. He was still trying to take control of the business rather than leveling up and passing on the tasks to other skilled people in his team

(12:11) - Whenever he sees a problem that's coming up, there are fundamentally two sides of the business that Alex looks at: acquisition and fulfillment

(15:20) - In order for your people to work at the scale you want them to, you have to place quality in the way they’re being trained. After solving that, you then move on to seeing if the problem lies within the system

(19:04) - There are levels to the game. The quality of the people that you hire is a belief set that needs to be continually broken

Follow Alex Hormozi’s Socials:

Transcript

Click on a timestamp to play from that location

0:00.0	Real quick, you guys already know that I don't run any ads on this and I don't sell anything.
0:04.6	The only ask that I can ever have are you guys that you help me spread the words.
0:07.8	We can not more entrepreneurs make more money, feed their families, make better products,
0:11.9	and have better experiences for their employees and customers.
0:14.9	The only way we do that is if you can rate and review and share this podcast.
0:19.4	The single thing that I have to do is leave review.
0:21.9	I'll take you 10 seconds or one type of the thumb.
0:23.9	It would mean the absolute world to me.
0:25.2	More importantly, it may change the world of someone else.
0:28.2	It's called the Chinese rule of three and 10.
0:30.0	Right? So systems break, essentially every time you triple them.
0:33.5	Welcome to the game where we talk about how to get more customers,
0:35.7	how to make more customers, how to keep them longer,
0:37.7	and the many failures and lessons we have learned along the way.
0:40.2	I hope you enjoy and subscribe.
0:42.3	What's going on everyone?
0:43.6	Happy Thursday.
0:44.4	Hope you guys are having a good end of week-ish home stretch.
0:49.6	I had a really introspective day yesterday.
0:54.1	I kind of reached a little bit of a moment of frustration
0:57.1	because no matter how many different ways we've cut it,
1:02.4	we did.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Alex Hormozi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Alex Hormozi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.