The Game with Alex Hormozi How to Recover From Huge Mistakes in Business | Ep 723
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Jun 12, 2024 Messing up in business can lead to unexpected growth. Alex shares how to turn negative customer experiences into loyalty by owning mistakes and providing exceptional service. Through personal anecdotes, he emphasizes the power of accountability, refunds, and emotional connections. He also illustrates the importance of empowering employees to rectify issues and exceed expectations. With relatable stories, he shows that every mistake is a chance to strengthen customer relationships and boost your brand's reputation.
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Bent Gym Equipment
- Alex Hormozi bought a bent piece of gym equipment.
- The seller refused to replace it, leading to a negative experience.
Ritz-Carlton Experience
- Alex Hormozi had a poor dining experience at the Ritz-Carlton.
- The manager went above and beyond to rectify the situation, turning it into a positive one.
Magic Moments
- Disney's principle suggests it takes 37 "magic moments" to compensate for one "tragic moment".
- Avoid negative experiences as they require significant effort to rectify.