The Game with Alex Hormozi “Tiny Market, Big Money” & Common Entrepreneur Mistakes (on Foundr Stories) Pt. 2 - Feb '22 | Ep 437
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Sep 17, 2022 Discover the intriguing concept of finding big profits in tiny markets through strategic niching. Learn how entrepreneurial mindset plays a crucial role in success, blending acquired skills with inherent traits. Explore common pitfalls that new business owners stumble upon, emphasizing the importance of patience and value creation over mere profit chasing. Gain insights on how to raise prices while still attracting clients by truly understanding their needs, and enjoy personal anecdotes that illustrate the journey of entrepreneurship.
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Niche Down for Big Money
- Target niche markets and understand their specific needs.
- Provide exceptional value, even at a high price, making it hard for customers to refuse.
Client-Focused Approach
- Focus on making your clients money, not on how much they already have.
- Design a system to generate profits for them, allowing you to take a cut.
Give More Than You Take
- Give more value than you take, exceeding expectations, even offering free value initially.
- Focus on generosity to build goodwill, creating demand that you can later monetize.