6 Ways Small Businesses Beat Big(ger) Competitors...
ฝัง
- เผยแพร่เมื่อ 22 มี.ค. 2022
- Want to SCALE your business? Go here: acquisition.com
Want to START a business? Go here: skool.com/games
If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $200,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit.
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.
34 yrs old: I became co-owner of Skool.com to help the many people who want to start a business online do so.
Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.
I was WAITING for you up the 85 Million a year on the intro and Today was the Day!!!!
hahaha same!
Upgrades people, upgrades
Same😂😂
Well if you make 100million amd your expenses are 99million. You're not really making any dough tbh
@@mehulsinghtomar2049 lol
One of the 3-4 key take-aways that I've never heard before: "20% of your customers are willing to pay 5X more for your core offer than the other 80%" -- I've known about fractals and the 80/20 rule, but I've never heard it applied that way before in a coaching business context. The down-sell option to lower cost of acquisition which "matches" the non-qualified for the core-offer people is also a bullet point I need to act on.
So fucking grateful that I took the leap to start pursuing my TH-cam channel/ business. To think that I was going to live the rest of my life working on someone else’s demand sickens me. You can ALL make it, stay disciplined and remember the end goal. Let’s go boys 🙏
GL!
@@shouldigetit thank you brother 🙏
Go get it man!
@@Tommy-kt2gl on it brother! 👊🏻
😅😅hy😮ju Hmmmm😢 Uhu😮 HB hu😊y😮
Golden words... Literally. Thanks Alex. I'm starting (12 years already) a SaaS in vacation rentals and we apply that thing to be able to stay double price of our competitors with customers happier than ever. Thanks man. Will send it to our sales team (they kinda have to know you already)
Absolutely worthwhile! Thanks for all these lessons Alex. Not only are you helping us be more successful, you're helping us be better in what we do and provide greater value. Thank you, thank you, thank you! :D
First found out about you from Grahams podcast and just wanted to let you know your videos are great to watch and i’m thankful for you sharing your experiences and knowledge.
Been watching this channel since 12k subscribers. Love the content, Alex!
I can’t believe your videos don’t have million+ views! Thank you sir for so much value! 🙏🏼
The amount of videos of yours that I have saved to watch again is insane. Thank you Alex!
Can u recommend 5 videos
That's a free class of what actions you can take to beat competition even if you have a small business! 😉👌
New to your channel and loving it! It's so awesome your give away free valuable content!
I love the video! Been trying to learn marketing and sales, shooting to go from 1.2 to 5 this year.
Alex, thank you for all the information and lessons! Your transparency and honesty is so valuable, and I greatly appreciate it! I was wondering if you had a couple books that you would recommend reading or books that you most often give as gifts. Thanks again!
This is gold, I’m currently working on building a sales plan for my startup agency and this opens my my mind into a new world of opportunities
Gives more value than anyone and can articulate it well. Thanks, Alex!
I don't wait a single second for clicking on a new Hormozi video
Simple and powerful advice….thank you so much
Taking notes, 3 videos every day I truly believe your videos will change my like thanks Alex!
Hi Alex, love your content! I'd really like to see a video on your Weekly plan WHILE you were building your businesses(not now). Because I figured out how to structure my days but still struggle finding a solid weekly plan, especially when it comes to when to rest.
Thank you a lot for all the amazing videos already published, they're all awesome, and really impacted my life, thank you Alex!
Work 5 days a week, rest on the weekend if you work long hours, take Saturday and Sunday full days off, no work, no exercise, do something that makes you smile
YOU DA MAN. Thanks for your content
Thanks for the information and life lessons, Alex.
Major value brother - this is busienss 101 thank your - keep making videos!
This is gold - just sent this to a client so we can start implementing this.
Thank you Alex. You are my youtube friend.
This was a good one amongst a bunch of good ones…videos from Alex.
I shared it…
Can you do a video on getting over analysis paralysis? That’d help a lot of people brother (including me)
This was incredible thank you
Thank you for every thing Alex
Looking forward to this vid!!🔥🔥
110 from 85 in months!! grats my guy!
Thanks for the video
What flannel brand do you wear? They look incredibly comfortable.
I kind of miss this old Hormozi Nation vibe. Felt like I had my own private Coach Alex in a cave somewhere dealing out good personal advice 😂
Thank you Hormozi👍
Amazing channel and content!!
You are like the Jordan Peterson of entrepreneurs.
Another excellent video 🔥🔥
This was EXCELLENT. Really helped me to place where my low-cost community membership fits in.
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you.
110 MILLION LETSS GOOO
Mr Hormozi Mr Hormozi Mr Hormozi... You are an absolute beast
YES!!! Thank you for this! Absolutely amazing
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you.
@AlexHormozi is this legit?
"Sorry not sorry" 🙌
Thank you
Great explanation👌👌👌, I did the price raising and the cross selling one with my skin care shop and I offered some more expensive products to maybe 10% of my customers, it all worked out nicely, Thanks for the info (from an Iranian fan)
Great insights!
When is your next book coming!?!? :)
Maybe he just said that to get in your head, and have you pick up his company. If so then what a play!
Thank you for the business fundamentals. It's like hearing the type of common sense that is surprisingly uncommon.
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you.
Resumo: How to make more money: Get more customers or make every customer worth more. Raise Prices. Lower the cost of fulfillment. Make employees work more (manage more tasks and customers). Make people buy more often, or stay paying for longer. Cross selling (sell something different to same customer). Up selling (sell more of the same thing to the same customer, a lot of people just want more). Customers are fractal, a small minority is willing to pay a lot of money, so have something very expensive to sell (a small minority in that minority even more money...). Down Selling (when they don't qualify for the core offer), don't ever down sell when the prospect qualifies for the core offer, don't even present the offer in that case.
Does anybody know if he has a video talking about “What justifies a higher price?”. So more attention given to a client, justifies a higher price. A more refined set of production materials, access etc. Is there a list?
Add more value. How can you add 2X more value? Give a better experience. We live in an experience economy
Right aatif2k2. Experience economy. 👍Look at who’s the best in your industry. I hat do they do better than anyone? And think 10x!
love it
Fractal distribution concept is just consumer surplus in basic economics, you have to focus on to suck the consumer surplus from those who can pay more for the same service you are offering.
Can you do this for physical products businesses?
Awesome! :)
Classic Hormozi content 💪
Hi Alex I want to learn How to Present The 1st upsell To The front End Buyers! Please make your next video in continuity of this topic.
WE understand This concept of increasing Ltv But Cant Understand when and how to present this to a Front end buyer so they cant refuse!
Also how to create that offer! Should it be for 6 months 12 months 4 months because we cant test stuff on our front end customers ! Please elaborate🙏
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you.
Who else waits a video to drop? Epic
We do a Wrestling weekly membership for $49 per week. if we were to add semi private groups in addition for an up sale should the price point be $250 per week? Or should there be something in between that?
Hormozi you are the greatest.. I am following everything you do.. I run the MSP for Decisive Data Systems and my goal is to 10x this business so then I could one day bring you in to grow to the next level
Hey Alex, are you still in Austin?
Another great video… don’t understand the connection with the headline but still great content nevertheless
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you.
Hey Alex great advice, but the sound on your videos is clipping, makes it harder to listen to.
Waiting for the IPO.
110M Fuck yeah!!!!!
Decisive Data Systems IT Solutions for High Performance Business Leaders
🔥🔥🔥
Some audacity for him to say that. Wild.
A course should be a one time payment
Have you heard of Dan Peña and QLA, ? If you did or have , I’d be interested in hearing your perspective on that what he is teachingZ I’m still reading his book the first 100 million!
I have an unexplainable disgust towards Peña. I just can't stand the old fart. Meh might just be me but doesn't matter. Alex is the best.
Hey Alex love your videos. It would be great if you looked at the camera during these sit down videos instead of what I assume is your screen.
I had a great morning
Where can I get an acquisition cap!!
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you.
it's a crime to be this early
You should probably lay low for a while
@@VincesInHocSigno lol
The 80/20 rule does not apply in UK its more like 1 in 15....... We are all a lot poorer relatively than 30 years ago
🎉❤️
TL:DW raise prices and lower costs a.k.a. increase net margin & diversify products a.ka. create more revenue streams
What'sapp✙𝟏𝟗𝟎𝟑𝟒𝟗𝟐𝟗𝟖𝟖𝟖
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What'sapp✙𝟏𝟗𝟎𝟑𝟒𝟗𝟐𝟗𝟖𝟖𝟖
More updates on ETH,NFT's,BTC📊
NOTE: No BS filler words here. There's no "...well, it's kind of a business/customer paradigm mind-meld meets synergy thing, Right?"
Alex could be speaking to someone in 6th grade. This is straight up Fenman Technique, because he knows it cold.
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you.
230k to 600k? How long? Yes, this is my poll.
4 months
you're doing sales cause you failed at marketing.
you are doing marketing cause you failed at product.
Thanks for the value Alex
i love this video so much
This is basic knowledge
Can't believe that owner didn't know this.
j
Does Alex have kids??