The Game with Alex Hormozi The Only 2 Real Things Restraining Business Growth | Ep 326
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Aug 26, 2021 Discover the two root causes that can hold back business growth. Learn about the importance of focusing on core products that address major market problems. Hear how reframing challenges into solution-driven mindsets can change your approach. Delve into the theory of constraints to identify key limitations that impact performance. Finally, understand the risks of diversifying too quickly and the value of honing in on what truly drives success.
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New Venture vs. Scaling
- A business owner making $550,000 monthly wanted to start a new venture in physician practice improvement.
- Alex Hormozi advised against it, suggesting focusing on scaling the existing successful business instead.
Reasons for Plateau
- Businesses plateau either due to market saturation or the entrepreneur's limitations.
- Reaching true market saturation, where you've captured the entire addressable market, is rare.
Diversification vs. Scaling
- A woman making $4 million yearly with weight loss info products considered expanding into apparel and supplements.
- Alex Hormozi advised her to focus on scaling her existing successful product instead of diversifying.
