The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Apr 14, 2025
In this discussion, Alexi Omar, a legal attorney for musicians, seeks guidance from entrepreneur Alex Hormozi to revive his struggling business. They tackle pressing financial challenges, including a striking $100,000 loss against a $300,000 revenue. Strategies for enhancing client engagement via social media and transitioning to a retainer model emerge as key talking points. The duo emphasizes the importance of qualifying clients before providing services, alongside maximizing sales through video engagement and a clearer business model for specialized law firms.
38:53
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Quick takeaways
- The podcast highlights the necessity for the business owner to shift focus towards the profitable services segment, streamlining operations to ensure financial stability.
- Enhancing customer engagement strategies through social media and refining pricing models can significantly improve sales conversions and overall revenue growth.
Deep dives
Financial Struggles and Revenue Breakdown
The conversation reveals that the business is currently facing serious financial challenges, reporting a revenue of $300,000 over the past year while incurring a loss of $100,000. Two main business units—services and education—generate the most income, with services yielding $131,000 and a small profit of about $10,000. However, the education segment has a similar revenue but is losing significant money due to high operational costs. This breakdown highlights the need to reassess and optimize these business units for better profitability.
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