"The more I see the big companies (…) all I keep seeing is how they focus on removing barriers, on how they focus on removing friction" Today, Alex (@AlexHormozi) discusses the value equation and how to increase the perceived value of a product or service by decreasing the obstacles and friction that a prospect has to go through to achieve the desired outcome. He emphasizes the importance of focusing on the bottom side of the equation and removing pain and decreasing the bottom line for customers to increase the value of the product or service.
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:
(1:05) - Value equation has four pieces.
(2:23) - Detractors: delay, pull away from value charged. Actual time/effort.
(4:52) - Examples: Xanax vs meditation and Netflix.
(8:00) - Decrease time and effort to increase value.
(11:39) - Real value is removing pain, decreasing bottom side.
(15:04) - Differentiate value and squeeze time to win and keep customers.
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