There's two elements of trying to create FOMO, besides like risk reversals. There's scarcity, which is a function of the number of units and then there is urgency, which isA function of time. And so all we have to do is direct the prospects attention to the cost that is already happening, but they are just not aware of or focusing on. So you see this in politics all the time, whatever they are talking about, more becomes the hot topic of the election,. But it's only because they're putting attention to it, not because people actually care more or less about it.
And so I was so afraid of losing that, just not quitting became the one thing... Today, join Alex (@AlexHormozi) as he guests on Ed Mylett’s Show to talk about the kind of mindset he had when he was at one of the lowest points in his life, what is scarcity stacking and how the concept of FOMO is being used in business. 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 Ed Mylett’s YouTube Channel!
Timestamps:
(1:35) - Belief contradictions coexisting within.
(3:26) - Alex's focus during life's lowest point: Controllable aspects.
(8:42) - Exploring the "Scarcity Stack" concept.
(14:05) - FOMO creation: Scarcity and urgency as key elements.
(20:05) - Marketing and product creation intertwined; skill development insight.
(26:50) - Would Alex revisit past struggles given the chance?
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