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The Game w/ Alex Hormozi
3 Tactical Ways to Immensely Grow in a Service Business | Ep 427
Aug 25, 2022
08:50
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Quick takeaways
- Businesses can add value by combining different types of products or services to differentiate themselves and become monopoly players in the market.
- One of the fastest ways to generate cash flow is through selling individualized, high-touch access to solutions, ensuring commitment and added value.
Deep dives
The Three Types of Products to Sell
There are three categories of products: physical products, digital products, and access. Physical products can be tangible goods like supplements, while digital products can include subscriptions like Netflix. Services fall under the second category, such as massages or marketing agencies. The third category is access, which can be physical, like concert tickets, or digital, like virtual event access or communication with an expert. By understanding these categories, businesses can add value by combining different types of products or services, ultimately aiming to differentiate themselves and become monopoly players in the market.
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