The Game with Alex Hormozi Part 3: $100M Offers Book | Ep 581
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Aug 19, 2023 In this episode, Alex discusses the Value Equation and shares tips on increasing perceived likelihood of achievement, decreasing time delay, and decreasing effort and sacrifice to create more value for the customer. He explores the importance of achieving early victories and the willingness to pay for fast solutions. The podcast also compares the perceived value of Xanax versus meditation and supplements versus health clubs. Lastly, it emphasizes the importance of monetizing value and helping others.
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Charge Heinous Prices
- Charge high prices for your products or services, even heinous amounts.
- Provide enough value so the offer is still a steal for the customer.
5x Price, 38x Profit
- Alex Hormozi's photography client increased their average ticket price 5x.
- This led to a 38x profit increase, scaling, and charitable donations.
The Value Equation
- Value is driven by four factors: dream outcome, likelihood of achievement, time delay, and effort/sacrifice.
- The value equation quantifies these elements, impacting pricing and profit.