As business owners and entrepreneurs, we should focus on psychological solutions rather than logical ones. Logical solutions have usually already been tried and failed. Instead, we can solve problems by tapping into human psychology, like decreasing the pain of waiting or adding distractions. Let's give these psychological solutions a shot!
“You can either be right or you can be rich.” In this episode, Alex (@AlexHormozi) discusses the Value Equation, a concept that can help businesses charge heinous amounts of money for their products or services. The episode includes tips on increasing the perceived likelihood of achievement, decreasing time delay, and decreasing effort and sacrifice to create more value for the customer.
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.
Get your own copy of the book at acquisition.com/books
Timestamps:
(0:40) - Value Equation & Free Goodies
(9:59) - Dream Outcome
(13:20) - Perceived Likelihood of Achievement
(14:47) - Time Delay
(18:13) - Effort and Sacrifice
(20:18) - How the Value Equation is Used
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