The Game with Alex Hormozi The Business Behind Test Prep Tutoring | Ep 475
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Dec 20, 2022 Discover how test prep tutoring can lead to top 1% earnings with zero startup costs! Learn about the power of selling educational outcomes and the effectiveness of group tutoring models for maximizing profits. Gain insights on overcoming fear when seeking feedback and referrals, plus innovative ways to reach potential students through ads and word-of-mouth. This conversation highlights the simplicity and scalability of this business, making it an attractive opportunity for aspiring entrepreneurs.
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Sell the Outcome, Not the Time
- Sell the outcome of tutoring (e.g., higher test scores, better job/school prospects).
- Tie the improved scores directly to increased earning potential.
Semi-Private Group Tutoring
- Don't do one-on-one tutoring; opt for semi-private groups of around eight students.
- This allows you to charge less per student while significantly increasing your hourly rate.
Practice Makes Perfect
- Alex Hormozi bought every GMAT book and solved every problem, raising his score above Harvard's average.
- This dedicated practice improved his pattern recognition and problem-solving speed.