The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Apr 14, 2025
Alexi Omar, a legal attorney specializing in the music industry, seeks guidance from entrepreneur Alex Hormozi to revive his struggling business. They dissect challenges like leveraging Instagram for sales and the need for a service-oriented strategy. The conversation pivots to pricing models, advocating for fixed retainers to align value delivery. Omar learns about qualifying clients effectively and enhancing sales processes using video communication. Their insights aim to restructure business strategies for sustainable growth and profitability.
38:53
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Podcast summary created with Snipd AI
Quick takeaways
- Focusing on the most profitable service segment can streamline operations and significantly improve overall business profitability.
- Implementing a pre-qualification process for leads and eliminating the underperforming software segment will enhance sales efficiency and growth potential.
Deep dives
Financial Challenges and Revenue Overview
The business is facing significant financial difficulties, having generated $300,000 in revenue over the past year while incurring a loss of $100,000. The primary revenue sources include services, education, and software, with services being the most profitable segment, contributing $131,000 in revenue with a $10,000 profit. Education also contributed the same revenue but has been operating at a loss overall. The struggling software segment, despite being developed to aid musicians, is costing the business $150,000 annually while generating only around $40,000, resulting in a negative impact on the overall profitability.
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