Alex Hormozi Quotes

Warren Buffet said, “Price is what you pay. Value is what you get.

A focused fool can accomplish more than a distracted genius.

You want to be ‘the guy’ who services ‘this type of person’ or solves ‘this type of problem.’ And even more niched ‘I solve this type of problem for this specific type of person in this unique counter-intuitive way that reverses their deepest fear.

When you raise your price, you increase the value the consumer receives without changing anything else about your product.

Masters never don’t do the basics.

The only thing that beats “free” is “fast.” People will pay for speed.

Entrepreneurship is about acquiring skills, beliefs, and character traits. To advance, I find that we must determine which skills, beliefs, and character traits we lack. Most times, we simply need to improve.

Aligning with other’s self interest is easier than persuading them to do what you want.

You can either be right or you can be rich. This book is for getting rich. If that bothers you, just put this down and go back to arguing against human nature. Hint: You’re not gonna change it.

The Grand Slam Offer only becomes valuable once the prospect perceives the increase in likelihood of achievement, perceives the decrease in time delay, and perceives the decrease in effort and sacrifice.

there’s no award for who works the hardest, only for who gets the best results.

Businesses solve problems. Businesses make the world better. There are too many problems for any one person to solve.

The degree of the pain will be proportional to the price you will be able to charge (more on this in the Value Equation chapter). When they hear the solution to their pain, and inversely, what their life would look like without this pain, they should be drawn to your solution. I have a saying I use to train sales teams “The pain is the pitch.” If you can articulate the pain a prospect is feeling accurately, they will almost always buy what you are offering. A prospect must have a painful problem for us to solve and charge money for our solution.

People want what they can’t have. People want what other people want. People want things only a select few have access to.

Increased Response Rates (think clicks) Increased Conversion (think sales) Premium Prices (think charging a lot of money).

A high concentration of power in one place is rarely a good idea in the long run.

Doing the thing that scared me most - giving away my secrets - led to the biggest breakthrough in my life.

We want engaged leads: people who *show* interest in the stuff you sell.

Fundamentally, all marketing exists to influence the supply and demand curve.

No offer? No business. No life. Bad offer? Negative profit. No business. Miserable life. Decent offer? No profit. Stagnating business. Stagnating life. Good offer? Some profit. Okay business. Okay life. Grand Slam Offer? Fantastic profit. Insane business. Freedom.

Main point: don’t be afraid of what other people think. If someone won’t speak at your funeral, you shouldn’t care about their opinion while you’re alive. Honor the few who believe in you by having courage.

If you have a “commodity” offer, you will compete on price (having a price-driven purchase versus a value-driven purchase). Your Grand Slam Offer, however, forces a prospect to stop and think differently to assess the value of your differentiated product. Doing this establishes you as your own category, which means it’s too difficult to compare prices, which means you re-calibrate the prospect’s value-meter.

Hormozi Law: The longer you delay the ask, the bigger the ask you can make. “The longer the runway, the bigger the plane that can take off.

your most valuable asset ― your attention.

If you cannot explain something in simple terms, then you don’t understand it.” - Dr. Richard Feynman, Nobel Prize Winner in Physics

We question all of our beliefs, except for the ones we really believe in, and those we never think to question.” ​— ​Orson Scott Card

1/3 of men under 30 haven’t had sex in the last year. People don’t realize why that’s actually one of the biggest issues we face today. It means the foundation of our society is deteriorating.

Sometimes, though, people want to know more about your offer before they buy. This is common for businesses that sell more expensive stuff. If that’s you, then you’ll often get more leads to engage by advertising with a lead magnet first.

Our goal as marketers and business owners is to increase the value of the dream outcome and its perceived likelihood of achievement, while decreasing the time delay of achievement and the effort and sacrifice one has to put in to get there.

Having a Grand Slam offer makes it almost impossible to lose. But why? What gives it such an impact? In short, having a Grand Slam Offer helps with all three of the requirements for growth: getting more customers, getting them to pay more, and getting them to do so more times. How? It allows you to differentiate yourself from the marketplace. In other words, it allows you to sell your product based on VALUE not on PRICE. Commoditized = Price Driven Purchases (race to the bottom) Differentiated = Value Driven Purchases (sell in a category of one with no comparison. Yes, market matters, which I will expound on in the next chapter) A commodity, as I define it, is a product available from many places. For that reason, it’s prone to purchases based on “price” instead of “value.” If all products are “equal,” then the cheapest one is the most valuable by default. In other words, if a prospect compares your product to another and thinks “these are pretty much the same, I’ll buy the cheaper one,” then they commoditized you. How embarrassing! But

First, if your audience has a problem they don’t know about, your lead magnet would make them aware of it. Second, you could solve a recurring problem for a short amount of time with a sample or trial of your core offer. Third, you can give them one step in a multi-step process that solves a bigger problem. All three solve one problem and reveal others. So your three types are: 1) Reveal Problems, 2) Samples and Trials, and 3) One Step Of A Multi-Step Process.

The greatest hitters of all time also have many strike outs, just as there are many failed offers in the track record of great marketers. We learn skills through failure and practice. We do this knowing that nine out of ten times we will be wrong. We still act boldly, hoping for that offer we connect with so well that it results in our big payoff.

A person who pays with their time now is more likely to pay with their money later.

How do I know if they’re interested?” → Make them an offer.

Remember, we want to get rich, not just “get by.

3) One Step Of A Multi-Step Process.

Reminder: You get rich from what you make. You become wealthy from what you own. And it took me years to realize this because not that long ago...

Think different.” - Steve Jobs

I’m going to be an entrepreneur so I can be free. Free to do whatever I want, whenever I want, with whomever I want.

There is no strategic benefit to being the second cheapest in the marketplace, but there is for being the most expensive.

Those who pay the most, pay the most attention.

If the people around you are giving you advice to slow down or to take it easy – you are surrounded by the wrong people.

You just get pickier. I think that's true of everything. Money, toys, girls - all the hedonistic stuff. You just raise the bar

I jumped off a bridge in Italy, is that culturally insensitive? Is saying 'mamma mia' culturally insensitive?

A good Instagram account is better than day game and standing in the mall doing cold approaches.

Your mind must be stronger than your feelings.

Your mother is the only woman who will love you unconditionally.

Your mindset determines your destiny, so choose positivity and watch you life transform.

People who experience a victory early on are more likely to continue with something than those who do not.

Create flow. Monetize flow. Then add friction.

Scarcity is a function of quantity. Urgency is a function of time. This is where you only limit when people can sign up, rather than how many.

Adding a deadline and incorporating one or multiple forms of urgency will get more people to take action than would otherwise.

The point of good writing is for the reader to understand. The point of good persuasion is for the prospect to feel understood.

Charge as high a price as you can say out loud without cracking a smile.” ​— ​Dan Kennedy

In plain words, pricing this way means you are providing a service at just above what it costs for you to stay above water. We are not trying to stay barely above water. We are trying to make egregious amounts of money that will have your relatives asking if what you are doing is legal. Again, we are not trying to get the most customers. We are trying to make the most money.

You run a speed test that shows their website loads at 30% below the speed it should. You draw a clear line between where they should be and how much money they lose by being below standards.

Here is your first piece of good news: if you are reading this, then you are already in the top 10 percent. Most people buy stuff and then promptly ignore it. I can also throw out a spoiler: the further you get in the book, the bigger the nuggets become. Just watch. This book delivers. The world needs more entrepreneurs. It needs more fighters. It needs more magic. And that’s what I’m sharing with you ― magic.

Time delay is the time between a client buying and receiving the promised benefit. The shorter the distance between when they purchase and they receive value/the outcome, the more valuable your services or product is.

Getting people to buy is NOT the objective of a business. Making money is. And lowering price is a one-way road to destruction for most — you can only go down to $0, but you can go infinitely high in the other direction.

The pain is the pitch.” If you can articulate the pain a prospect is feeling accurately, they will almost always buy what you are offering. A prospect must have a painful problem for us to solve and charge money for our solution.

Think of it like salty pretzels at a bar. If somebody eats the pretzels, they’ll get thirsty and order a drink. The salty pretzels solve the narrow problem of hunger. They also reveal a thirst problem solved by a drink, which they can get, in exchange for money.

lead is a person you can contact. That’s all. If you bought a list of emails, those are leads. If you get contact information from a website or database, those are leads. The numbers in your phone are leads. People on the street are leads. If you can contact them, they are leads.

The first $100,000 is a bitch, but you gotta do it. I don't care what you have to do—if it means walking everywhere and not eating anything that wasn't purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.” ​— ​Charlie Munger, Vice Chairman Berkshire Hathaway

there is a difference between gambling in business and gambling in a casino. In a casino, the odds are stacked against you. With skill, you can improve them, but never beat them. In contrast, in business, you can improve your skills to shift the odds in your favor. Simply stated, with enough skill, you can become the house.

Thankfully, the give : ask ratio has been well-studied. Television averages 13 minutes of advertising per 60 minutes of air time. That means 47 min are dedicated to ‘giving,’ and 13 min are dedicated to ‘asking’. That’s roughly a 3.5:1 ratio of giving to asking. On Facebook, it’s roughly 4 content posts for every 1 ad on the newsfeed.

Seven Steps To Creating an Effective Lead Magnet Step 1: Figure out the problem you want to solve and who to solve it for Step 2: Figure out how to solve it Step 3: Figure out how to deliver it Step 4: Test what to name it Step 5: Make it easy to consume Step 6: Make it darn good Step 7: Make it easy for them to tell you they want more

We start by picking a problem that’s narrow and meaningful. Then, solve it. And, like we just learned, when we solve one problem, a new problem reveals itself. Here comes the important part- if we can solve that new problem with our core offer, we’ve got a winner. This is because we solve this new problem in exchange for money. That’s it. Don’t overthink it.

It’s an offer you present to the marketplace that cannot be compared to any other product or service available, combining an attractive promotion, an unmatchable value proposition, a premium price, and an unbeatable guarantee with a money model (payment terms) that allows you to get paid to get new customers . . . forever removing the cash constraint on business growth.

Outsized returns often come from betting against conventional wisdom, and conventional wisdom is usually right. Given a 10 percent chance of a 100 times payoff, you should take that bet every time. But you're still going to be wrong nine times out of ten . . . We all know that if you swing for the fences, you're going to strike out a lot, but you're also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in a while, when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it's important to be bold. Big winners pay for so many experiments." ​— ​Jeff Bezos

A marketing professor asked his students, “If you were going to open a hotdog stand, and you could only have one advantage over your competitors . . . which would it be . . . ?” “Location! ….Quality! …. Low prices! ….Best taste!” The students kept going until eventually they had run out of answers. They looked at each other waiting for the professor to speak. The room finally fell quiet. The professor smiled and replied, “A starving crowd.

But what I came to realize was - leads alone aren’t enough. We want engaged leads: people who *show* interest in the stuff you sell. If someone gives their contact information on a website, that is an engaged lead. If someone follows you on social media and you can contact them, that is an engaged lead. If people reply to your email campaign, they are engaged leads. The leads showing interest are the leads that matter. Engaged leads are the true output of advertising.

Okay everyone. So here’s the ad account of a gym we just launched. Here are the ads we ran. This is how much we spent. We sent them to this page with this offer. You can see how many leads we got here. They got this many people scheduled. This many showed. This is how many they sold. This is how much the gym owner made. This is everything we did. If you want help setting something like this up, we’ll do the whole thing for free. And we only get paid off the sales you make. If that sounds fair, book a call.

the right way.’ Each went something like this: Step 1: They got me excited about all the new leads they would bring.   Step 2: I’d go through an onboarding process that felt valuable (and sometimes was).   Step 3: They assigned their “best” senior rep to my account.   Step 4: I saw some results.   Step 5: They moved my senior rep to the newest customer...   Step 6: A junior rep starts managing my account. My results suffered.   Step 7: I complained.   Step 8: The senior rep would come back once in a while to make me feel better.   Step 9: Results still suffered. And I’d eventually cancel.   Step 10: I’d search for another agency and repeat the cycle of insanity.   Step 11: For the zillionth time–Start wondering why I wasn’t getting results like the first time.

Seven Steps To Creating an Effective Lead Magnet

Example: Imagine we help homeowners sell their homes. That is a broad solution. But what about the steps before selling a home? Owners want to know what their house is worth. They want to know how to increase its value. They need pictures. They need it cleaned. They need landscaping. They need minor things fixed. They need moving services. They may need staging. Etc. These are all narrow problems–great for lead magnets.

Bigger broader guarantees work better with lower ticket B2C businesses (many people just won't bother taking the time).

The first step is picking the problem to solve. I use a simple model to figure this out. I call it the Problem-Solution cycle.

I want to do what you do in my business, but I don’t know how. I’d like to work with you for 6 months so I can learn how you do it. Plus, I’ll pay extra for you to break down why you make the decisions you do and the steps you take to make them. Then, after I get a good idea of how it all works, I’ll start training my team on it. And once they can do it well enough, I’d like to change to a lower cost consulting arrangement. This way, you can still help us if we run into problems. Are you opposed to this?

Tienes que hacerlo accesible en sus teléfonos, en un ordenador y en múltiples formatos diferentes. Así, elegirán el que les resulte más fácil.

Información. A la gente le gusta consumir cosas de formas diferentes. A algunos les gusta ver, a otros leer, a otros escuchar, etc. Haz tu solución en tantos formatos diferentes como puedas: imágenes, videos, textos,

Servicios. Deberás estar disponible en más momentos y de más formas. Más horas al día. Más días a la semana. Por videollamada, por teléfono, en persona, etc. Cuanto más fácil sea ponerse en contacto contigo, más probabilidades habrá de que la gente se convierta en clientes potenciales comprometidos.

Qué hacer - Las CTA le dicen al público que llame al número, haga clic en el botón, proporcione información, concierte una llamada, etc. Hay demasiadas opciones para enumerar. Pero ten en cuenta que las CTA indican al público cómo convertirse en clientes potenciales. Las buenas CTA tienen un lenguaje claro, sencillo y directo. No "no te demores", sino "llama ahora". Lee el siguiente párrafo para saber más (¿ves lo que acabo de hacer?).

«Hazle a la gente una oferta tan buena que se sentirá estúpida si dice que no».

My offer was simple. I’ll fill your gym in 30 days for free. You pay nothing. I pay for everything. I sell new members and keep the first 6 weeks of membership fees as payment. You get everything else. If I don’t fill your gym, I don’t make money. You spend nothing either way.

It was an easy offer to sell. I’d fly out. Turn on my lead machine. Work the leads. Then sell the leads. Except, instead of selling them into my gym, I’d sell them into whatever gym I was camped at for the month. Every month I’d go to a new gym. Rinse and repeat. It worked.

a lead is a person you can contact. That’s all. If you bought a list of emails, those are leads. If you get contact information from a website or database, those are leads. The numbers in your phone are leads. People on the street are leads. If you can contact them, they are leads.

The dream outcome is the expression of the feelings and experiences the prospect has envisioned in their mind. It’s the gap between their current reality and their dreams. Our goal is to accurately depict that dream back to them, so they feel understood, and explain how our vehicle will get them there.

Making shit loads of money breaks people’s minds. It literally stretches their minds so far past what they believe is possible they assume you are doing something wrong or illegal. They literally “can’t even.

Your Grand Slam Offer, however, forces a prospect to stop and think differently to assess the value of your differentiated product. Doing this establishes you as your own category, which means it’s too difficult to compare prices, which means you re-calibrate the prospect’s value-meter.

For most, if you are under $10M per year, niching down will make you more money. After that, it will depend on how narrow the niche is, or, what is called TAM (total addressable market). A business can really only grow to meet the total addressable market. That being said, for most people, getting to $10M per year is already a top .4% achievement (only 1 in 250 businesses achieve this). So for 99.6 percent of readers below $10M per year, it’s almost always easier to serve fewer clients more narrowly.

You only suck if you stop trying. So, try again. You’ll never become world class if you stop after a failed attempt.

So single serving, “fun sized,” etc. samples are great lead magnets. It’s how Costco sells more food than other stores–they give out samples!

As you likely now know, I have crafted thousands of offers over the last decade. Most failed. Some did okay. And some struck gold . . .  but I never really knew why. As Dr Burgelman, a famous Stanford business school professor said, it is far better to have understood why you failed than to be ignorant of why you succeeded.

You hook them up to your faster server and show their website loading at lightning speed. They get more customers from your faster load times. If they want to keep it, they need to keep paying you.

Example: You give away free finance courses, guides, calculators, templates, etc. They are so valuable people really can do it all themselves. But, they also reveal the time, effort, and sacrifice of doing it all. So you offer financial services to solve all that.

If they don’t have what you want, don’t listen to what they say.” — Alex Hormozi

So, then, what does it take to grow? Thankfully, just three simple things: 1) Get more customers 2) Increase their average purchase value 3) Get them to buy more times

your

Lloyd, from the above newspaper story, could have gone through this entire book and nothing in here would have worked for him. Why? Because he would be targeting newspapers, a dying market. That being said, having a great market is an advantage. But you can be in a normal market that’s growing at an average rate and still make crazy money. Every market I have been in has been a normal market. You just don't actually want to be selling ice to eskimos.

So, then,what does it take to grow? Thankfully, just three simple things: Get more customers Increase their average purchase value Get them to buy more times