The Game with Alex Hormozi The Perfect Business | Ep 282
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Mar 2, 2021 What defines a 'perfect' business? Unique, sticky products that create strong customer loyalty! Discover the importance of information advantages in the marketplace. Explore the must-have characteristics: long-term thinking and resilience. It's not about quick riches; it’s about building lasting value. Plus, get a free Scaling Roadmap to help grow your business. Tune in for actionable insights and inspiring lessons from a journey to billion-dollar success!
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Perfect Business Framework
- Alex Hormozi defines the "perfect business" as one that's unique, expensive, and sticky.
- This framework helps identify businesses with high profitability and customer retention.
Pricing and Margins
- Don't feel bad about charging what the market will bear, regardless of your costs.
- High gross margins are key to profitability, aim for 99% if possible.
Understanding Margin Impact
- The difference between a 90% and 99% gross margin is a 10x increase in profitability.
- For each unit of cost, a higher margin allows for selling 10x more product.
