The process of finding your best customers and the ones who spent the most is very similar to Elon Musk's Tesla. You do a common factor analysis, which is just a fancy way of saying you see what they all have in common. And basically, you make your best and most qualified customers. The advantages of going narrower are that you can increase your prices and your profit significantly.
“Growth just happened as a consequence of not stopping and steady, consistent improvements over time.” Today, Alex (@AlexHormozi) talks shares with us the 5 different ways you can scale your business to reach millions in revenue and the pros & cons of each way to scale. So, which way to scale suits you?
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.
Timestamps:
(3:16) - 1st way to scale is going up-market
(4:24) - 2nd way to scale is going down-market
(6:21) - 3rd way to scale is going adjacent-market
(8:39) - 4th way to scale is going broader
(11:55) - 5th way to scale is to go narrower
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