The Game with Alex Hormozi Strategic Business Advice That Applies To Every Business | Ep 840
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Feb 21, 2025 Explore practical strategies for scaling your business and maximizing profit by focusing on customer value and retention. Learn about strategic decision-making and the importance of effective prioritization. Discover innovative customer acquisition methods and navigate pricing strategies for sustainable growth. Delve into the joys of entrepreneurship and the balance between client acquisition and retention. Gain insights on upselling techniques and the significance of catering to niche markets for enhanced profitability.
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Prioritizing Business Actions
- Evaluate every business goal or action based on its impact on customer acquisition, customer lifetime value, and risk mitigation.
- If a proposed action doesn't improve these metrics, reconsider it.
Cost of Change
- Changing business processes often leads to a temporary 20% dip in performance due to team adjustments.
- Only implement changes with a strong likelihood of exceeding a 20% lift.
Scaling Strategies
- Focus on scaling strategies based on business size: 'more' for sub-$1M, 'better' for larger businesses, or 'new'.
- Address persistent objective failures by evaluating personnel competence.
