The Game with Alex Hormozi How to Make $1 Million Dollars Per Year | Ep 291
Apr 8, 2021
Unlock your potential to earn a million dollars! Discover the crucial math equation for success and learn how to set realistic goals. Understand the significance of customer lifetime value and effective sales strategies. Explore the difference between high-paying jobs and entrepreneurial ventures. Get practical tips for breaking down that daunting income target into manageable milestones. Dive into the lessons learned from failures on the journey from modest beginnings to a multi-million-dollar empire.
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Calculate Units for Goal
- Know your revenue goal (e.g., $1 million) and desired take-home income.
- Calculate the required units to sell based on profit margins (e.g., 40%).
Set Precise Targets
- Break down yearly goals into monthly, weekly, and even daily targets.
- Smaller, concrete targets are easier to track and achieve.
Understand LTV
- Understand your customer lifetime value (LTV).
- Calculate LTV based on product price and customer lifespan, including upsells.
