In service-oriented businesses, success hinges more on effective recruitment and training than on the service itself. For example, a cleaning business faces greater challenges in finding reliable, trustworthy workers than in selling cleaning services. To overcome this, companies must focus on building a culture that attracts and retains low-skilled labor while ensuring that systems are in place to incentivize consistent performance. Implementing a pay structure based on completed tasks rather than hourly wages can enhance motivation and productivity. Additionally, pairing incentives for quality and speed is crucial in fostering a competent workforce. The underlying goal is to create an environment where employees feel encouraged to perform well, which ultimately leads to better service delivery.
"If you want to build an asset that makes you generationally wealthy, this is for you." In this episode, Alex (@AlexHormozi) shares that for most businesses that he's started and worked with, there's a core value driver that must be understood in order to truly scale. And if the entrepreneur does NOT work on this and instead gets distracted on other problems, they won't grow as quickly.
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:
(5:30) - What Business?
(7:50) - Supplement Example
(9:30) - Paired Incentives
(15:00) - What is solving the problem worth?
(16:00) - The Woman in the Red Dress
(20:00) - Every Business Has Shit
(26:30) - Marry Your Business
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