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Listen to These 23 mins Before You Try to Sell Anything | Ep 744
The Game w/ Alex Hormozi
Focus on High-Value Opportunities
Entering a higher market segment typically leads to increased profitability, as higher quality prospects tend to have more skills and require less maintenance, resulting in better returns on investment. When evaluating business opportunities, consider factors such as customer lifetime value (LTV) to customer acquisition cost (CAC) ratios and total addressable market (TAM). A high LTV to CAC ratio combined with a large market indicates a lucrative opportunity. In the example of a hair salon offering coaching versus a technique for hair extensions, the latter presents both a larger customer base and a more significant profit margin, making it a wiser focus for maximizing revenue.
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