The Game with Alex Hormozi Stop Trying to Get Rich. Get Better | Ep 733
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Jul 5, 2024 Discover why focusing on improvement trumps chasing wealth in the business world. Learn how enhancing your product or service can lead to loyal customers and sustainable growth. Explore the importance of brand strength and customer satisfaction in reducing acquisition costs. Hear insights on building long-lasting success through quality and commitment to excellence. With practical advice and lessons from personal experiences, this discussion is a game changer for small business owners.
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Focus on Product Improvement
- Focus on improving your product/service instead of just seeking cheaper leads.
- Build a business where customers return and refer others, not one reliant on constant new customer acquisition.
Retention and Referrals
- Most businesses struggle with customer retention and referrals due to product/service shortcomings.
- Identify these weaknesses by analyzing why customers don't return or refer and address them directly.
The Cookie Entrepreneur
- Alex Hormozi's friend built a successful cookie business by meticulously refining his recipe over a year.
- He tested 365 batches, gathering feedback, resulting in a superior product and built-in customer base.