Learn why doing the unscalable is crucial for small business growth. Explore powerful customer questions, the link between busyness and wealth, and the pitfalls of copying rich people's time management. Discover Alex Hormozi's insights on scaling and improving business operations.
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Quick takeaways
Start with unscalable actions to build a strong foundation for scalability and long-term success in business.
Implement the 'Tesla model' by offering premium services first to set pricing standards and optimize revenue generation.
Deep dives
The Power of Doing the Unscalable
Emphasizing the importance of starting with unscalable actions in business, the podcast stresses the value of initially engaging in tasks that might not seem scalable at first. By recounting examples of successful entrepreneurs who began with unscalable strategies such as handwritten cards to customers, the podcast highlights the learning and growth potential in these early efforts. It underscores how embracing unscalable actions, like personalized customer interactions and detailed sales approaches, can lay a foundation for future scalability and long-term success, shifting focus from scalability concerns to efficient customer engagement.
The Sales to Fulfillment Continuum Framework
Introducing the concept of the sales to fulfillment continuum, the podcast explains the dynamic relationship between the ease of selling a service and the challenges of delivering it effectively. By advocating for starting with high-touch, done-for-you services that are easier to sell but harder to fulfill, the podcast suggests maximizing revenue per customer initially. The framework guides businesses to evolve from done-for-you to done-with-you solutions, gradually productizing services and progressing towards self-service, leveraging skill development and operational efficiencies.
The Top-Down Pyramid Approach
Proposing the "Tesla model," the podcast recommends initiating business offerings from the top of the pyramid with premium, high-value services before descending to lower-tier options. By starting with the most expensive, bespoke services and then transitioning to more accessible, consulting-style interactions, businesses can convey expertise and set pricing standards. This top-down strategy aids in positioning brands for success, optimizing revenue generation, and establishing clear pathways for customer engagement and value delivery.
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Scaling the Unscalable: A Guide to Starting and Growing Small Businesses
"You can't be busy and be broke. Pick one." Today, Alex (@AlexHormozi) speaks about one of the core ways to scale as a small business - do the unscalable. It's a belief that holds many back that are scared of doing work that won't be feasible at a different revenue number.
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:
(0:43) - People being scared of doing the scalable
(4:06) - You can't be busy and be broke. Pick one
(4:40) - Two most powerful questions to ask your customers
(11:30) - Don't copy the time management of rich people