The Importance of Solving Big Problems and Recruiting Talent in Service-Based Businesses

“People don’t know the actual business they’re in.” Today, Alex (@AlexHormozi) dives into the core elements driving business success, emphasizing the significance of sales, marketing, brand, media, and distribution. Using real-world case studies, he illustrates strategic pivots and the importance of recognizing unique business challenges, offering invaluable insights for entrepreneurs, gym owners, software developers, and supplement companies.

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:

(0:22) - Understanding the gym business

(2:54) - Lessons from the software industry

(5:12) - The cleaning business revelation

(8:52) - Scaling service-based businesses

(12:48) - The hard truths of entrepreneurship

(20:23) - Maximizing enterprise value

(23:48) - Case study: The canned cocktail business

(26:21) - The importance of repeat customers

(30:42) - The hail mary strategy

(36:13) - Confronting the real problem

(38:09) - Concluding thoughts

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