The Game with Alex Hormozi

13 Years of Brutally Honest Business Advice in 90 Mins | Ep 737

Jul 15, 2024

Discover the secrets of successful entrepreneurship drawn from over a decade of experience. Learn why selling to affluent clients can elevate your business model and how focusing on key metrics drives profitability. The importance of hiring top talent and maintaining high standards is emphasized for sustainable growth. Get insights on the value of branding and the need to prioritize critical goals over distractions. Plus, explore how quality and mission-driven strategies can maximize your business potential.

01:30:56

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Quick takeaways

Start by selling to rich customers before targeting a broader market.

Set strategic priorities to focus resources on critical goals for progress.

Invest in hiring top talent to enhance outcomes and drive business growth.

Prioritize continuous improvement over rapid expansion for sustained success.

Manage distractions and prioritize deep work for focused, impactful tasks.

Gradually build a strong brand for advertising returns and customer loyalty.

Deep dives

Prioritize Selling to Rich People for Business Success

To succeed in business, focus on selling to rich people first to build capital before targeting a broader audience. Elon Musk's strategy with Tesla shows the progression from selling high-priced models to mass-market vehicles. Selling based on value and low cost requires vast infrastructure and high volume sales. Efficiency-driven businesses like Walmart and Amazon thrive by targeting the masses.

Prioritize and Protect Your Time

01:26

High Standards Prevent Stupid Rules

00:47

Measuring Customer Success Metrics

01:18

How to edit like an investment banker

01:06

Intro

7min

Strategies for Selling to Affluent Clients

2min

Focusing on Goals for Entrepreneurial Success

10min

The Crucial Role of Metrics in Driving Business Success

5min

The Power of Talent and Quality in Business Growth

55min

Maximizing Business Potential Through Talent and Quality

11min

"There’s a reason Tesla started at the top." In this episode, Alex (@AlexHormozi) compresses his most brutally honest advice from 13 years of business. These come from experiences selling 9 companies and scaling the Acquisition.com portfolio to $250M+ in annual revenue. You’ll get insights on sales, pricing, business models, people, and the infinite game of entrepreneurship.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(00:00:13) Sell to rich people until you have the money to sell to everyone else.

(00:08:57) You lack priorities, not information.

(00:22:56) Things are hard because your team isn’t as good as you think they are. Your standards are too low.

(00:26:57) Lots of rules mean you have dumb people.

(00:36:25) If you want to get bigger, get better.

(00:43:50) You work all day but you can’t get anything done because you allow too many things that don’t matter to distract you. Sometimes you have to let the fires burn.

(00:52:18) A brand takes a long time to build but is the most valuable thing you can own.

(01:02:29) You need to know the inputs and outputs of your money-making system.

(01:10:17) Stop looking for hacks.

(01:17:39) The best people cost more but make way more than they cost.

(01:22:26) The big, obvious thing is the problem, not the hundred other things.

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Get access to the free $100M Scaling Roadmap at www.acquisition.com/roadmap

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The Game with Alex Hormozi

13 Years of Brutally Honest Business Advice in 90 Mins | Ep 737

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Prioritize Selling to Rich People for Business Success

Strategy Is About Clear Priorities and Resource Allocation

Valuing Talent and Prioritizing Team Building for Growth

Embrace Continuous Improvement and Focus on Quality over Size

Manage Distractions and Prioritize Deep Work for Productivity

Effective Time Management and Delegation for Increased Productivity

The Value and Strategies of Building a Strong Brand

Maximizing Business Success through Quality and Talent Investment

Identifying Key Business Priorities and Ignoring Distractions

Leveraging Periods of Opportunity for Significant Business Growth

Empowering Business Success Through Word of Mouth Marketing

Prioritize and Protect Your Time

High Standards Prevent Stupid Rules

Measuring Customer Success Metrics

How to edit like an investment banker

Remember Everything You Learn from Podcasts