This chapter explores the concept of commoditization and how grand slam offers can effectively address this issue. It emphasizes the significance of identifying the right market for implementing pricing strategies and introduces the concept of a starving crowd, illustrating the importance of high demand for a solution regardless of offer quality. Real-world examples, such as the toilet paper shortage during COVID-19 and a software business serving newspapers, are shared.
“I hope what you're giving them is worth it.” In this episode, Alex (@AlexHormozi) the pricing and commodity problem that most businesses face, along with the importance of having a Grand Slam offer to differentiate your product based on value, not price. He also emphasizes the three ways to grow a business: get more customers, increase their average purchase value, and get them to buy more times.
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.
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Timestamps:
(0:47) - Pricing The Commodity Problem
(16:37) - Finding the Right Market
(42:18) - Charge What It’s Worth
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