The Game with Alex Hormozi

Your Business Is NOT What You Think It is | Ep 724

Jun 14, 2024

Discover the hidden truths in various industries like gyms, software, and cleaning businesses. Learn about maximizing enterprise value, repeat customers, and confronting the real problems. Explore strategic pivots and the importance of sales, marketing, and distribution for business success.

42:04

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Quick takeaways

Success in business lies in mastering sales and marketing strategies, not just product quality.

Branding and distribution play crucial roles in business growth and industry success.

Product excellence and effective branding are essential for sustained success in various industries.

Deep dives

Understanding the Business You're Really In

Identifying the core essence of a business beyond surface expectations is crucial. The speaker learned that in the gym business, success was not solely about fitness results but predominantly driven by effective sales and marketing strategies. This understanding propelled gym growth and highlighted the significance of mastering these aspects for business success.

Any Business Can Reach a Billion Dollars with Time and Strategy

01:27

Confronting Business Challenges

01:34

The Importance of Solving Big Problems and Recruiting Talent in Service-Based Businesses

02:03

Intro

5min

Understanding the True Nature of Your Business for Growth

19min

Strategic Business Advice for a Canned Cocktail Business

6min

Navigating Entrepreneurial Decisions and Scaling Businesses

11min

“People don’t know the actual business they’re in.” Today, Alex (@AlexHormozi) dives into the core elements driving business success, emphasizing the significance of sales, marketing, brand, media, and distribution. Using real-world case studies, he illustrates strategic pivots and the importance of recognizing unique business challenges, offering invaluable insights for entrepreneurs, gym owners, software developers, and supplement companies.

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:

(0:22) - Understanding the gym business

(2:54) - Lessons from the software industry

(5:12) - The cleaning business revelation

(8:52) - Scaling service-based businesses

(12:48) - The hard truths of entrepreneurship

(20:23) - Maximizing enterprise value

(23:48) - Case study: The canned cocktail business

(26:21) - The importance of repeat customers

(30:42) - The hail mary strategy

(36:13) - Confronting the real problem

(38:09) - Concluding thoughts

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The Game with Alex Hormozi

Your Business Is NOT What You Think It is | Ep 724

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Understanding the Business You're Really In

The Shift to Marketing and Sales in the Fitness Industry

Revelation in the Supplement Industry

Navigating Challenges in Software Development

Identifying Entrepreneurial Challenges and Solutions

Any Business Can Reach a Billion Dollars with Time and Strategy

Confronting Business Challenges

The Importance of Solving Big Problems and Recruiting Talent in Service-Based Businesses

Remember Everything You Learn from Podcasts