3 Questions To Ask Yourself For Product And Service | Ep 562

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 11 July 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

(This episode is a re-run. Original airdate was August 19, 2021)

"If it's not going to grow on its own over time, it's not worth doing." Today, Alex (@AlexHormozi) talks about the importance of creating a product or service that is valuable enough to generate word-of-mouth referrals and compound growth over time. He suggests three questions to ask oneself when evaluating a product or service in order to improve its value, profitability, and customer experience.

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(1:39) - Small entrepreneurs get customers to make sales

(3:12) - Q1: How to create the most value in the product itself?

(4:41) - Q2: If it were one 10th the cost, what else to make it better?

(4:54) - Q3: What experience makes the customer a raving fan?

(7:08) - Word of mouth is the most powerful and compounds

(8:41) - The ultra-wealthy compounding everything they do

Follow Alex Hormozi’s Socials:

Transcript

Click on a timestamp to play from that location

0:00.0	Real quick, you guys already know that I don't run any ads on this and I don't sell anything.
0:04.6	The only ask that I can ever have are you guys that you help me spread the words.
0:07.8	We can not more entrepreneurs, make more money, feed their families, make better products,
0:12.0	and have better experiences for their employees and customers.
0:14.9	The only way we do that is if you can rate and review and share this podcast.
0:19.5	The single thing that I have to do is you can just leave review,
0:22.0	take you 10 seconds or one type of the thumb,
0:24.0	it would mean the absolute world to me.
0:25.3	More importantly, it may change the world of someone else.
0:28.1	That is what creates an enduring thing and that is what when you spend the extra time
0:32.7	to make the product so good that people have to tell their friends about it.
0:36.4	Then that's where you get the unending scale and also is where all the profit is, right?
0:43.8	Welcome to the game where we talk about how to sell more stuff to more people in more ways
0:47.2	and build businesses worth owning. I'm trying to build a billion dollar thing with acquisition.com.
0:51.5	I always wish pesos, musk and buffet had documented their journey, so I'm doing it for the rest of us.
0:55.7	Please share and enjoy.
0:59.0	Right now, if you're not making the amount of money that you want to make,
1:01.9	it's because the product that you have is not good enough.
1:04.4	It's really hard to confront that fact, but if you really do and sit here,
1:07.9	I can't tell you the amount of times I talk to entrepreneurs and they're like,
1:10.4	man, if I just had more people, if more people would just find out about my product,
1:14.0	then all my problems would be solved.
	...

Transcript will be available on the free plan in -627 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Alex Hormozi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Alex Hormozi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.