Business Scaling Workshop Live Q&A | Ep 827

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 17 January 2025

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 and will learn on his path from $100M to $1B in net worth.

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Transcript

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0:00.0	Hey, Ox.
0:01.0	Hello.
0:02.0	My name is Rick and I sell financial planning services to young big tech on employees, W2 employees.
0:11.1	We do about half a million of revenue.
0:12.5	I'd love to be at 5 million within the next three years or so.
0:17.5	And what's currently stopping me is just a time resource management issue where I'm currently
0:23.3	doing the fulfillment of meeting with our clients and I hired a new full-time associate
0:29.7	planner to start to take over those relationships.
0:32.3	And so I think my current constraint is figuring out how to replicate teams as I continue
0:37.3	to grow the business.
0:40.4	We're doing, relatively, we're just doing organic marketing content mostly on LinkedIn and
0:47.7	write a daily blog, which I post the website and an email list, a small email list.
0:52.4	How many sales a month did you do?
0:53.4	About two. Two sales a month did you do? About two.
0:55.0	Two sales a month.
0:55.8	Is the model like 1% assets under management?
0:58.5	No, and that was another question that I wanted to get your thoughts on was, one
1:02.9	of the big swings that I took about four or five years ago is to change the traditional
1:06.9	financial planning model.
1:07.9	So instead of charging the 1% AUM fee, we charge a 25 basis point AUM fee,
1:12.9	and then a monthly subscription, which is 275.
1:16.7	So it nets out to be about 5,000 per client per year
	...

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