Alex Hormozi, in a candid conversation, discusses the importance of creating value and building trust to achieve long-term success in business. He emphasizes the need to deliver on promises, particularly when asking others to promote one's work, ensuring their willingness to support future endeavors. Hormozi highlights the effectiveness of his advertising strategies, as showcased in his book "100 Million Dollar Leads," which he meticulously promoted using the very tactics within. He also touches on the significance of brand and reputation, advocating for the power of giving and sharing knowledge freely to stand out in a competitive market. Moreover, Hormozi stresses the balance between striving for perfection and the necessity to launch products that reflect one's best current efforts, thus avoiding the pitfalls of endless procrastination under the guise of perfectionism.
"The goal was if I, if I ask people to promote something and I say that it's going to be worth it, that I have to absolutely deliver on that."
This quote emphasizes the responsibility of ensuring value in what one promotes to maintain credibility and trust for future endeavors.
"I hear to that and I'm also like, if I reflect back if we lost every football game, I think winning matters also."
Speaker B explains that consistent losses in any endeavor, such as sports, can lead to a lack of enjoyment and the need to reassess one's direction.
"You learn more in your losses, probably you learn more from the bigger breakdowns and the challenges you face than always winning."
Speaker B suggests that challenges and failures often provide more profound lessons and opportunities for growth than uninterrupted success.
"The confidence comes in the effort and the journey, but also you've got to back it with some external results, I think, or some type of credibility somewhere."
Speaker B highlights the need for tangible results to support one's confidence and credibility in their field.
"But I think that the reason that I'm going to go from 100 to a billion and 10 billion and beyond is because I do genuinely like I am working harder now than I work to get here."
Speaker A attributes their continued success and ambitious goals to an increased and improved work ethic.
"The price for excellence has never been so cheap."
Speaker A points out that due to a general lack of persistence and resilience, achieving excellence is more accessible to those willing to put in consistent effort.
"Everyone is so soft now that to win, you just have to not be made of glass and be willing to have someone tell you, I don't approve of your life, and you say, that's okay."
Speaker A comments on the perceived lack of resilience in society and suggests that success now requires a thicker skin and indifference to external disapproval.
"What do you think about a point like that or a conversation like that where it's know, live in Europe and take three months and relax and travel?"
Speaker B questions the importance of taking time to enjoy life and not solely focusing on financial success, prompting a discussion on lifestyle choices.
"should we? Because you prefer that, which is fine, you could say I prefer to live the same, in which case go live that way, but to then say everyone should live that way, or then now you're casting your personal preference on everyone else, and I reject that wholeheartedly."
This quote stresses the importance of respecting individual preferences and not imposing one's own lifestyle choices on others. It advocates for personal authenticity and the right to pursue one's own interests without external judgment.
"So my first book, 100 million dollar offers, was a book that answered one question, which is, what do I sell? And so now that has 17,005 stars and... It's a great book, actually, it's still on Amazon charts, top 20 of all Amazon, and so is that one. So it's two of the 20."
This quote provides context on the success of the author's first book, which focused on what to sell, and sets the stage for the new book, which addresses the next logical question in business: who to sell to.
"Advertising is the process of making known, period. If no one knows about your stuff, no one buys it."
This quote succinctly defines advertising and highlights its fundamental importance in commerce: without awareness, there can be no sales.
"And so what happens is most people have an offer and no one knows about it. And so you have to make it known, you have to advertise it."
This quote reinforces the need for advertising to make offers known to potential customers, which is the central theme of the author's book on lead generation.
"I used all eight methods in the book to advertise the book itself. So I could have just emailed my list and just done a presentation or just released it, and I probably would have sold a lot of copies, but I wanted to use everything in the book to advertise the book, to demonstrate that everything, proof that everything that I do here works and that it'll work for them, too, if they just follow the steps in the book."
This quote explains the strategic decision to use every method from the book to advertise the book itself, serving as a live case study and proof of concept for the strategies outlined within.
"What I made, rather than saying, hey, the top ten affiliates get lamborghinis, which only benefits the affiliate, not their audience, I said, the top ten affiliates, I'll do a live q and a with your entire audience."
This quote illustrates the author's innovative approach to affiliate marketing, which focused on providing value to both the affiliates and their audiences, rather than just offering financial incentives.
So the official count was we had 542,000 people who registered for the event.
This quote indicates the success of the speaker's approach, showing a high level of engagement and interest in the event they organized.
We sold 100,000 in like ten minutes or something.
This quote highlights the effectiveness of the speaker's marketing strategy, resulting in rapid book sales upon launch.
And that was with no large bundles.
This quote emphasizes the speaker's strategy to drive sales without relying on bulk purchase incentives.
We had 50% of people who chose to get three.
This quote demonstrates the success of the speaker's incentive strategy, with a significant portion of customers opting to buy multiple books.
My only ask is that you continue to pay it forward to whoever showed you or however you found out about this podcast that you do the exact same thing.
This quote reflects the speaker's reliance on organic growth through word-of-mouth marketing rather than paid advertisements.
You make the product so exceptional that you get that lead getter bucket of customer telling other customers and affiliates, telling other people.
This quote underscores the strategy of creating products of such high quality that they naturally encourage customers to become advocates.
And so I made a huge pitching presentation to stack all the value that I gave with this book.
This quote illustrates the speaker's approach to providing immense value as a way to create a memorable event and reinforce their brand.
The book is free, too. So the course is free. The book's free on my podcast.
This quote details the speaker's strategy of offering high-quality content for free as a means to attract and retain an audience.
I believe that personal brands and trust and authority are going to be increasingly important.
This quote highlights the future significance of personal branding and trust in marketing strategies.
We put 300 a week out.
This quote shows the speaker's commitment to content creation as a key component of their marketing strategy.
You learn how to do things better by doing more of it.
This quote emphasizes the idea that practice leads to improvement.
You want to do tons of volume with tons of feedback because quality is better than quantity, but you only get quality through quantity, and the only thing better than that is quantity with quality.
The speaker is highlighting the importance of not only producing a large amount of work but also ensuring that it is coupled with feedback to achieve high quality.
I did 19 drafts. I had four or four rewrites. I did 6 hours a day for two years.
This quote details the intensive process and dedication behind the creation of the book.
On the book? On the book.
Confirming the focus of work was solely on the book during the specified time.
I think a lot of people hide under the guise of perfectionism when it's really just laziness and fear.
This quote suggests that what some call perfectionism is often an excuse to avoid hard work or facing fears.
It's tension between two extremes, right? You've got the MVP, which means minimum viable product. Ship it as fast as you can.
The speaker discusses the balance between shipping a product quickly and taking the time to refine it.
They got louded, praised by like Tech magazine or Crunch or whatever it is for Dragon 2.0. And in Dragon 2.0 they literally added zero new features. They just made it work better.
This anecdote illustrates that significant improvements to a product can come from refining what it already offers rather than adding new features.
It's really like if you're doing 2 million or more in profit. And we have actually narrowed our focus a little bit more to brick and mortar chains.
This quote outlines the business criteria and niche focus for investment and partnership opportunities.
Even though I've mastered through a certain level, there's so many different things that I was pulling out from. And I was like, okay, cool. I can steal like an artist here.
This quote reflects the speaker's recognition that there is always more to learn and apply, even for those who are experienced.