The Game with Alex Hormozi 3 Steps That Will Double Your Profits in 8 Weeks | Ep 444
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Oct 4, 2022 Learn how to significantly boost your profits by adjusting pricing strategies. Doubling your prices can often lead to increased perceived value. Discover the importance of customer surveys and clear communication for successful price changes. Delve into a hypothetical scenario that illustrates these strategies in action. Hear about the emotional ties clients have to prices and how to navigate these changes ethically. The episode reveals transformative techniques to enhance your business margins.
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Profit Math
- Consider the math: selling fewer units at a higher price can increase profits.
- Don't be afraid to raise prices and let the math guide your decisions.
Portfolio Company Success
- Alex Hormozi's portfolio company doubled profits in eight weeks with a single change.
- They increased profits from $250,000 to over $500,000 monthly by adjusting their pricing.
Hypothetical Business Growth
- Imagine a hypothetical business with 100 customers paying $100 monthly, resulting in $10,000 revenue and $2,000 profit.
- Consider three options to double the business: doubling customers, price, or customer lifespan.
