4.9 • 4.4K Ratings
🗓️ 26 February 2025
⏱️ 20 minutes
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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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0:00.0 | What's going on everyone? Welcome back to the game. I have an audio first episode for you guys today. |
0:04.6 | This has been something that's been kind of top of mind for me. But it's about some things that you can |
0:10.0 | immediately sell to make a lot more money in the business. And I think this is something that's wildly |
0:14.8 | underused. And so I want to say a month ago, I had a business that came out to our headquarters. It's an advisory practice customer. |
0:25.9 | And the gentleman had a very large business that had many automobile shops. And in talking to him |
0:33.7 | more, it was a very razor-thin margin business as, you know, he was detailing it. |
0:39.3 | And one of the things that he had was a certain niche type of customer that had tremendous |
0:44.3 | costs incurred for the amount of time that their truck or cars were off the road, something |
0:50.0 | to the tune of like $10,000 to $20,000 a day in lost income. And what was interesting is I said, |
0:56.2 | okay, I'm guessing these guys are not price sensitive. And he was like, no. And I said, well, |
1:00.1 | do you price it differently for them? He said, no. I said, but you have other customers or the vast |
1:04.6 | majority of your customers that if it took a week to get their, you know, cars or trucks back, it wouldn't really make a difference to them. |
1:11.2 | He said, right. It's like, okay. So what you're missing is basically a surge price or said differently, |
1:19.6 | a speed pass. And so what I want to talk about is a couple different ways you can implement this in |
1:23.8 | any business. And what's really cool about this type of kind of offer or value consideration |
1:29.5 | is that it's a 100% margin. So think about it. Like if you deliver anything, let's say you build |
1:33.4 | decks for a living. It doesn't matter. And you have your standard, let's say you have a 30% |
1:39.4 | margin in the business after everything. Okay, fine. Great. If you build that in three months, cool, and maybe you can |
1:46.7 | only take on a certain amount of projects, so you build them, let's say, in sequence. So you build |
1:50.7 | customer A and then customer B and the customer C. Well, it makes basically no difference to cost for |
1:55.9 | you if you do A, B, C, or CAB, right? Like, it wouldn't actually change anything for you. You're going to have |
2:02.7 | the same number of people and you're going to deliver over the same time period. But the thing is, |
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