The Game with Alex Hormozi Building Wealth While Building A Business | Re-Air Ep 290
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Jan 15, 2025 Discover the ups and downs of navigating financial turmoil in business. Hear how strategic pivots can turn failures into successes. Learn about the vital mindset shift every entrepreneur should embrace: prioritizing immediate profits rather than endlessly reinvesting. There's a treasure trove of insights on scaling ventures and building wealth by focusing on what truly matters in the entrepreneurial journey.
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Gym Launch Challenges
- Alex Hormozi discusses his experience with Gym Launch, where he initially helped gym owners in person.
- After scaling with a sales team, he faced significant financial losses due to dishonest gym owners and high refund rates.
The Death Spiral
- Alex describes the "death spiral" caused by high refund rates exceeding profit margins.
- He had to sell more each month just to cover previous refunds, leading to immense stress.
Shifting Focus
- To overcome his financial challenges, Alex shifted his focus to his wife Layla's online fitness business.
- By applying his marketing and sales skills, he quickly generated $1,000 a day in sales within two weeks.