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The Game with Alex Hormozi

$100M Offers Audiobook Part 7 | Ep 585

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.94.4K Ratings

🗓️ 19 August 2023

⏱️ 25 minutes

🧾️ Download transcript

Summary

“Change here usually just creates inefficiency and operational drag, costing you money, no bueno.” In this episode, Alex (@AlexHormozi) discusses the importance of naming your product or service and how it can attract the right customers and repel the wrong ones. He also shares a formula for creating compelling names and offers tips on how to keep your offers fresh to prevent them from becoming fatigued in the market.

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:

(0:29) - Naming

(15:29) - Execution

(18:51) - Summary & Closing Credits

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Transcript

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0:00.0

Hey, guys. Welcome back to the last episode of $100 million offers. We're covered in three chapters today naming execution and closing credits

0:08.5

naming is going to be the biggest heater here. It is a dark horse

0:11.8

It is one of the things that's useful for if you're a local business if you're an e-commerce store

0:15.5

If you're a software company if you sell services or anything in between if you sell stuff to people naming it the right way

0:21.2

We'll get the right people to buy it the wrong people not to buy it and ultimately make you way more money enjoy

0:26.6

Chapter 14 enhancing the offer naming implicit ego-tism effect. We are generally drawn to the things and people that most resemble us

0:39.7

Magic headline formula

0:41.7

Like the tree that falls in the forest that no one hears having a grand slam offer will not make you money if no one finds out about it

0:48.2

The goal must be that a pond hearing about your offer your ideal prospects are interested enough to take action

0:53.8

Naming it properly is an integral part of this process. Here's an example say you see a free six-week stress release challenge and a

1:01.6

Float take center session while they may be the same thing just named differently. You're much more likely to respond to the first

1:08.8

Now here's the rub over time offers fatigue and in local markets they fatigue even faster

1:14.4

Why in a local market it costs relatively little to reach an entire population on most platforms

1:20.5

You can reach a thousand people for about twenty dollars. So if there are two hundred thousand people in your addressable area

1:25.3

They do it only cost you ten thousand dollars to reach all of them one time

1:28.9

Important disclaimer reaching an audience one time in no way means it offers fatigued most people don't even notice and offer the first mention

1:37.0

That's why you need to create new creative videos and images and new hooks stories and copy around the same offers

1:43.7

You can still use offers for a long time

1:46.3

But when we're talking about years of use not months offers can eventually fatigue

1:51.2

Over time you can rename the offer to refresh it this one concept will get you leads forever

1:55.6

I mean it so pay attention. We are not changing the actual offer. We are only changing the wrapping paper

2:01.7

If you've put together a bundled offering you're still ultimately going to be doing the same things the work you do the

...

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