The Game with Alex Hormozi Why Business Owners Beat Fitness Professionals | Ep 198
8 snips
Apr 17, 2020 Gym owners are urged to adopt a business mindset, focusing on math over emotion for success. Short-term losses can lead to long-term gains, and breaking even within 30 days allows for greater profit potential. Effective marketing strategies can significantly boost revenue, showcasing the importance of customer lifetime value. Additionally, the shift towards remote services presents financial advantages, revealing the need for gym owners to refine their customer acquisition tactics for enhanced profitability.
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Hidden Marketing Revenue
- Marketing generates more revenue than initially perceived due to secondary ripple effects.
- These indirect results are often overlooked but contribute significantly to overall profits.
Investment Analogy
- Alex Hormozi uses an analogy of different investment returns to illustrate how business owners think.
- They prioritize long-term, higher returns, even if it means short-term losses, unlike many gym owners.
LTV in Remote vs. In-Person
- Lifetime value (LTV) calculations change with different business models (in-person vs. remote).
- Remote services have higher profit margins due to reduced overhead costs, impacting LTV.
