The Game with Alex Hormozi Strategic Business Advice That Applies To Every Business | Ep 840
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Feb 21, 2025 Dive into the world of strategic business growth and customer management. Discover effective prioritization methods that directly impact acquisition and retention. Learn critical metrics like customer acquisition cost and lifetime value to maximize profitability. Explore the transition from project-based to subscription models and uncover innovative pricing strategies. Gain insights into overcoming market challenges while pursuing excellence in daily motivations, all with actionable advice to elevate your business.
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Prioritizing Business Goals
- Evaluate every business goal based on its impact on customer acquisition, lifetime profit, or risk reduction.
- If a proposed action doesn't improve these metrics, don't pursue it.
Cost of Change
- Changing business processes incurs a cost, often a 20% initial dip in performance.
- Only implement changes with a projected lift exceeding the cost of change (more than 20%).
Managing Team Performance
- Set clear expectations and timelines for your team.
- Address performance gaps swiftly; don't tolerate incompetence indefinitely.
