Watch the YouTube version of this episode HERE
"Little 1% improvements over and over again yield these 50% boosts." Today, Alex (@AlexHormozi) shares with us how he was able to double the size of one of his portfolio companies in just 60 days by solving five key problems. He explains the importance of having processes in place for each function of acquisition and how product problems can impact sales. He then reveals the data of the company before and after the changes were made.
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:
(1:06) - Explanation of key terms: show, offer, close, cash, units
(5:12) - #1-2: Low show rate & Multitasking inefficiencies
(8:01) - #3: Low close rate
(9:22) - #4-5: Ineffective reminders & Low cash collected
(10:24) - Ineffective discovery, need to dig deeper
(11:10) - Ask why customers want the product/service
(14:21) - Delivery of message is important, tone and emphasis
(20:09) - Culture fit and tactical knowledge in hiring process
(23:59) - Optimize sales script, handle objections
(27:24) - 40% sales improvement, 80% offer rate, 41% close rate
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