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How To Make a Legit Business in Education | Ep 523
The Game w/ Alex Hormozi
Forces against scaling
When scaling a business, there are three major forces working against you. Firstly, as you target colder audiences, it becomes more expensive to acquire new customers. Secondly, the conversion rates of these colder audiences are lower as they are less aligned with your product. Thirdly, advertising costs consistently rise, making it more expensive to reach these audiences. To counter these forces and scale successfully, businesses need to rely on positive word-of-mouth and referrals from existing satisfied customers to offset the increasing costs and lower conversions associated with expanding to colder markets.
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