The Game with Alex Hormozi - Flow before Friction & Excellent Customer Experience (with Ryan Daniel Moran) Pt.2 - July '21 | Ep 459

Episode Date: November 12, 2022

The business is the backbone, not the front. Today, join Alex (@AlexHormozi) as he guests on Ryan Daniel Moran’s YouTube to talk about creating flow, adding friction, how much friction to create and when to improve the customer experience. He also answers the question of reconciling the difference between an MVP and a grand slam offer. This is part 2 of the interview.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 on his path from $100M to $1B in net worth.Check out the episode on Ryan Daniel Moran’s YouTube Channel! Timestamps: (0:53) - Structure offers for exceptional customer experience.(7:17) - Comparison: Pickup lines vs. marketing confidence and conviction.(10:30) - Offer's role, anti-MVP, "flow before friction" explanation.(18:42) - Alex's ventures grow fast—focus on flow or primary lever?(22:35) - Demand strategy: Meet capacity or create scarcity for growth.(32:44) - $100M Offers book sections: Market, product, enhancers detailed.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Mosy Nation, what's going on? This is the second half of the Ryan Daniel Moran capitalism.com interview where we talk this part about creating flow, adding friction, how much friction to create, when to improve the customer experience. And one of the most interesting questions I've gotten on a podcast in a very long time, which is how do you reconcile the difference between an MVP and a Grand Slam offer? Aren't we supposed to start with a minimum viable product rather than something amazing? You'll want to tune in to hear the answer because I think it may surprise you and you will definitely get value from it.

I hope you enjoy. If you sleep with your partner every single day, your desire will inherently be lower than somebody who hasn't slept with their partner in a week. Right. And so I don't want the aroused customer. I want the rabidness customer. Welcome to the game where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe.

That question of if I could, if I only had one purchase, that forces you. you to think about, like, word of mouth referrals. And that forces you to make the experience so good that that person has to tell other people. So when you ask that question, where does your brain go when you're structuring the product and the offer? I believe in doing the unscalable first and then being overwhelmed with the amount of business that you have and then trying to make the things that you were doing unscalable, scalable with the added resources you know have from new sales. so I think a lot of people try and solve a problem that doesn't exist. They're like, well, I don't want to do something that's unscalable.

I'm like, dude, you don't even have any fucking clients. That's right. Like, what you're doing right now is ultimately scalable. You're doing nothing. Because this might be useful from a perspective standpoint. Is that like before I started gym launch, which, you know, everyone in their mother tried to create some sort of gym coaching company because Russell talks about like that the worst we were ending.

Yeah. For two years, and this is after I had a chain of gyms of my own, I had six. for two years, Layla and I flew around the country, living in motels, and turned around 33 gyms. We did 21 to 24 days on site. We would sell on average 100 new members.

When Layla and I went, we'd sell on average 190 new members in 21 days. And so before we made a product about how to do this, my solution, people were like, well, what are you going to do, fly out to your customers? I was like, I flew out to every one of my customers for two years to figure out everything, that they were possibly struggling with, and then turned every aspect of their business around.

And so then when we made the product, it solved all of the problems because we spent two years literally in the field making it. And it's just like, it's hard to comprehend because, you know, we went from nothing to, I think our first complete year, we did 28 million in revenue and 17 million in profit. When I was, you know, we were 28 years old. And so I bring this up because like it wasn't the advertising. You know what I mean? we spent, I think I looked it up, I think we spent four or $500,000 in advertising that year. $400,000? Yeah, $400,000 in ads.

That's a good return. That's a good return. Right. Yeah. And so we get so much word of mouth. Is that as good as Bitcoin, though? It's not better than Bitcoin. Doge definitely takes I think the further along that Layla and I have gotten in this business game is like,

virtually every path is unsustainable except for the product. And so I think, that the way that people should most, if I'm thinking about this now, I think about it in terms of promotion, product, and then people. And so, and that's like in stages, not all at once. Now, you need all three, but which ones emphasize. So in the beginning, you need a little bit of promotion just so you can figure out what's wrong with your product, right? That's the idea. It's like, you shouldn't be blasting, right? Because then you're like, you're going to literally just burn all the goodwill you have because no one's going to refer anybody else to your product and

it sucks. They've already had a first bad experience. So it's like, all right, we need a little bit of promotion, just so we have enough flow that we can fix this product. And you keep fixing it until the company can start growing on that same level of promotion. At that point, then you double down on the product and then you can bring and then you can gas the promotion. That's called getting product market fit. But everyone right now is like super excited about spending 100 grand a month on ads, making $120,000 in sales. And it's a miserable existence because at some point, the CPMs do get too expensive if you have no back and you have no referrals. And so it's like, it's just this pure exercise and vanity that doesn't make you any money. And it's honestly just a big waste of time,

but a lot of people do it because they get awards and they get recognized and they take the screenshots and it makes them feel good. And I get that. But like, I can tell you having now been on the other side of this, having a good product just really makes life a lot easier because your margins are really good. You don't have to work nearly as hard in the acquisition. And you can sleep pretty well at night because you know the product you have is good. And I'll tell you one more benefit that no one talks about, which is, I think at a certain level, you start, like, the pressure as an entrepreneur continues to increase the higher and higher levels. Like, I'm sure Ryan has comments on YouTube that are negative.

It's like, not me. But the thing is, like, if I were to say, hey, Ryan, you have green hair, he probably wouldn't be bothered by that. Because he knows that there's zero percent truth in that. But all of a sudden, if you start getting hateful comments and it starts really bugging, you, it's because there's a certain degree, a lack of conviction that you know you could do better. That's right. Then what happens is you start slowing yourself down. It starts eating up your conscience.

It starts eating up your free space. And I think the only way to get through that is to really go through it by improving the product to a degree that you literally cannot think of another way that it could be better. And that takes years, not months. And I think that's the other piece. It's like, dude, I worked on my product all week last week. That's cute. Yeah, that's amazing. So what are you going to do for the next? 51 weeks, you know. And I think that just having that kind of perspective shift would serve a lot of people. I have nothing to add, except the fact that the current comment on the screen is about Jarvis, a company that Alex and I were literally talking about last week. Hi, Dave. Hey, Dave, Harry, man. We are, we are fans of your work because you followed this process, right, of doubling down on creating great product. And now, like, did you have nine billion users now?

I think in eight months, eight months, nine billion users. You can't out market that. That's the thing. It's like you can't do it. And I'm like David, Dave comes from the hardcore direct response world. I was in, you know, in the hardcore direct response world.

And like you need to have basics of marketing, but far less, I think, than most people think you need. Right. And that's because all the talking heads don't actually have good product. And they're just really good marketers. And they say, you just need to have good marketing. And honestly, I don't think it's malicious that. They just don't think they've ever.

what having exceptional product looks like, but it is the only way that you can have something that's unbelievably sustainable and grows virally. Like if you have net negative trim, which Dave obviously does here with 25,000 active users on software in eight months, right? The only way you can do that is if the people who buy the product tell other people. And I think with the more digital world that we have, at a certain point, everyone will immediately know how good you are within seconds. And so we'll get ahead of the third. Here's an analogy that's coming in mind from me. The people that know the best pickup lines. The dudes that dive deep into pickup and study that world are the most insecure dudes. And now sometimes they can use that world as a way to gain confidence and improve

themselves. That does happen. But for the most part, most of the guys who go deep into like that that world of pickup are compensating for a lack of confidence for where they are flawed and then become masters at manipulation and persuasion to cover up for a feeling of lack. Marketers are the same way. Marketers become deeply involved with persuasion and sales and sometimes copy or having the best funnel or whatever it is to overcompensate for the fact that their product sucks, that their business sucks. But when you flip the whole thing, when the dude has absolute confidence because he just chooses to have it, he doesn't need to have the best pickup line in order for every girl to prefer him. And when you have the best product, you don't need to sell it

that hard because you have the conviction that what you have is the best thing for the customer. people pick up on that. We are way smarter as human beings than we think we are. We are not nearly as persuaded by the words on a page or the words that you say as people think. We are persuaded by picking up on the emotions and the certainty that you are projecting and how you really feel about the experience that the person is about to have. So the most profitable thing that you can do is for you to operate from a place of certainty, knowing that your product, your business, and your service is actually the best thing for that customer. And that requires you to take an honest look in the mirror and say, is my product and my business the best thing for the customer? And when the answer is yes,

you have $100 million businesses. That is the foundation. That is the mindset. That is the place from which Alex builds his $100 million empires. And that's what he documents. It's inside of $100 million offers. If you are still here, there's over 150 of you on here, and you have not yet gone to Amazon.com and bought $100 million offers with the intent of leaving a review, you are hereby booted off of this life. We are not friends. We do not do business together, you cannot come to my house for whiskey. You are not invited. If you did go and buy the book, if you have done it, put it in the comments right now and let me know, and I'll take it as a personal favor. Sean Vosser says, buy 10. They make great gifts. So they're wonderful gifts.

Now, while people are saying, there we go. Nichol says, bought the book, stop drinking. While people are putting that, there's a excellent question from Clement Wong. Isn't this the antithesis of an MVP? That's a fantastic question. Alex, how would you answer that? So if you heard what I was saying earlier, like tactically, it's, I want to get a little bit of promotion so that I can get some flow so that I can keep fixing the product. But I think what ends up happening, though, is that people mistake that initial flow

and say, I'm making a sale, I should ramp this. And that's what it is. It's the first dollar comes across and they see that first dollar is the sign or the indication that they now have a successful business. When in reality, they have, they have signaled that they know how to a small amount and sell a product. Not how do I build a business that I build a brand and how do a build a product that people are worried about and remark about. And so we create flow. We monetize flow. We get the product to the point where it can spin on its own and then you can jack it.

Now, Alex, this was an important. This was an important point that was not in the advanced copy that you gave me. In fact, Alex, would you hand me that box right over there? I actually want to hold something up. You gave, I'm going to come back to this point. You gave me an advanced, this is my advanced copy. Look at this amazing packaging. It came in.

I got it from a place called The Max. I put it out at The Max. Over here. This is my advanced copy. my weathered advanced copy of action. So back in 2006, I bought my first ever e-book. It was called The Rich Jerk. And I was 18 years old.

And I was like, that's what I want to be when I grew up. I want to be a rich jerk. And I went to the library, printed it out. And I sat on my bed and I left through it and I took furious notes. And I just had this thought of if I read this book. this is going to change my life. If I take this serious, it's going to change my life. And that was the first book I ever bought on internet marketing, which built the foundation for my first six-figure business. I learned about affiliate marketing, SEO, taking on clients,

email copywriting, putting other products. That was the foundation for everything. I have not had that feeling again until I went to the max and printed out $100 million offers. And this has gobs and gobs of notes about my business and what I'm going to do with this, which is why I say the second chapter of my career started when I read Alex's book because it was the same experience that I had. It felt like the new start. It was like, I get it now. Like, I get this now. And one of the biggest shifts happened after I read the advanced copy because you told me about the section that you added, which was about flow before friction. And this was like, this was one of those moments where I had to step away and get another cigarette. By the way, I've never smoked in my

entire life. I should probably stop using that analogy. I should just start sick to whiskey. But please explain this concept because it's such a shift for so many people to flow before friction. So I pretty much come from the perspective of give everything you possibly can away for free so that you can generate demand. Right. Like that's the, that's fundamentally the idea is like how can we just generate demand? How can we generate interest? How can we gather attention? And it starts by just giving a lot away. And that's where everyone's like, that's not scalable. I could never, like, I can't get any money doing it. I'm like, right. That's the, like, everyone just assumes that the entire business must be done and profitable at scale from day one, which it doesn't work that way.

There's their steps and their sequence. And so the idea is we generate flow first. And then once I have way more flow than I can possibly handle, then I start adding these levels of friction to, to increase the quality of the prospects. And so I think fundamentally marketing, if we think about what it is from a big perspective, is we're shifting the demand curve in our favor by adding artificially inflating the attention that we're putting on our products and making them more persuasive and adding bonuses and all the other things we do. Right. And through that, we can then add the perfect amount to get the output on the other side or the throughput of the system to be a qualified lead or a sale depending on, you know, what business that you're running. And so

for a mass consumer products company, it might just be ad purchase page, right? For a private equity company, it might be cold email, phone call, phone call, phone call, diligence, you know, you know what I mean? Lawyers, lawyers 90 days, and then escrow and then a side contract, right? And so the type of sale will depend typically the higher the price, the higher the friction, right? And the bigger the front end has to be in order to get that, but that's just by the higher price of the ticket. And so I think what most people don't know how to do is like, there's these big pools of attention, and then there's these sales that you want to make. And so the best marketers know the right amount of friction to apply. And I think the experience

of the marketer says, this feels like a two step. This feels like a three step. This feels like a one step. And they just can do that off of the fact that they have experience. But fundamentally, the way I do, if I'm approaching a new market is I want all the flow and then I will add one layer and see how we do. And then I'll add two layers and then see how we do. Until we get to a I'm like, that's just right. Real quick, guys, you guys already know that I don't run any ads on this and I don't sell anything. And so the only ask that I can ever have of you guys is that you help me spread the words

so we can out more entrepreneurs, make more money, feed their families, make better products and have better experiences for their employees and customers. And the only way we do that is if you can rate and review and share this podcast. So the single thing that I asked you do is you can just leave a review. It'll take you 10 seconds or one type of the thumb. It would mean the absolute world to me. And more importantly, it may change. the world or someone else.

So let me explain how we just use this in our business at capitalism.com. So I spent a few days with Alex last week and he talked about this exact concept, flow before friction. And I realized I've been guilty of this my entire career of like build the perfect funnel and launch it rather than just like get momentum and then approve. Oh my goodness. I can't believe I made this mistake for 15 years of my career. So we went back and we've been talking about doing a.

a book funnel for my book 12 months to $1 million for like, you know, since May 5th of last year when it launched. And we've just never gotten it off the ground. And when we have it, it was like, ah, it's not profitable. We'll just shut it down. So we just put together the simplest page possible and put together like the simplest bonus package possible. Put a name your own price option on there.

We put three pricing options on there, one of them being a dollar. just pick whatever, pick one of these three prices. And let's see what happens. Put up a few ads. And now we're going, okay, now we've got blood in the door. We've got momentum coming in. I don't know if blood in the door is a real term, but you're all still tracking it with me. We'll go with it.

There's lots of blood flowing in under the door. And we then said, all right, great, let's look at the numbers. And the numbers, like, we lose a little bit of money to acquire customers. and it's not nearly as bad as we thought. And now we're getting regular sales and customers, add one upsell. Oh, we're profitable. Way turn up the ad spend.

And now we've got lots of flow, adding friction. And it's that simple idea of, let's just get sales or leads or opt-ins or views, and then we add in the layer of complexity. And that's how we build the machine. I don't know why I have not thought of that. concept since I became a business owner. But that idea, it's like, oh yeah, lay layer one first, then we will lay layer two, and then you end up moving incredibly fast. Alex, every business that

you start or every personal brand you start seems to grow incredibly quickly. Is it because you focus on flow, is it all like the $100 million model like all encompassing? Or is there like one primary lever that is the reason you seem to move so quickly? I don't know. Good show, everybody. Thank you for being here. Buy one hundred million dollar offers. I mean, we try to make the free stuff way better than everyone else's paid stuff. And that's been, I mean, I feel like there's a lot of truths that people say, but they don't feel. You know what I mean? And so they say, like, make your free stuff better than other people's paid stuff.

But they don't. They make it look like everyone else's content. But it's like, what if you actually made it better than everyone else's paid stuff? And a lot of times, I think people notice the intention or the spirit behind what you're creating. If anyone reads the book, they can probably tell that I could package it into it. course. You know what I mean? And I put a course with the book. And you can probably tell that it's not a webinar that just got transcribed and put into a book so that I could sell a thing, which is not that's not how it is. Right. And so the idea for me is to create such a high price to value discrepancy

that I engender goodwill, which is candidly all I want right now at this point in my career. And that's the whole point. That's it. And there's six pages called The Delicate Dance of Desire, which is in the book, which is the last thing I added to the book before it. It got published. And it kind of talks to this concept a lot, which is like we're artificially stimulating demand with our marketing, right? And so you can also control your supply to increase prices by increasing scarcity, right? Like if Ryan, for example, sold one hour per month and it was open on the calendar and it was bidding or auction system, right? Or he only sold one. Then he would probably be able to fetch a very good price for it.

If he sold 10, you probably wouldn't be able to get nearly as good of a price. Right. And so the idea is how can we find the delicate. dance between supply and demand that best serves us as business owners and best serves our clients. And so I say this to say, my goal is always to create far more demand than I have supply and to not try and immediately meet the demand, but always stay just behind it. And in so doing, create far more pricing power for my products, far more profit, and continue to keep a little bit of demand in that pool that's pent up, right?

And so I think I use the analogy like, if you sleep with your partner every single day, your desire will inherently be lower than somebody who hasn't slept with their partner in a week. Right. And so I don't want the aroused customer. I want the ravenous customer. And so the idea is we only want things that we cannot have. Right. Desire is literally the wanting of something you do not have. As soon as you have it, you are satisfied.

And if we are saying that we are demand generators, then we are generators of desire or better stated we're channeling. we're channelers of the desire that already exists. And so if we're going to make stuff, right, we're going to make something, then we want to make it so good that that demand becomes so, so great and the supply is so small, right, that the profits that we get are breathtaking. And we keep it there.

And then maybe next month we do this much. But now because of how good the product was, and the word of mouth that happened on the back end, that pool of demand doubled. Right? And then we open up a little bit more. And then that is how you never go hungry because you always have every time you open the door, it sells out and it sells at the price that you want to sell out.

So that's my goal. And I think that's why we've been able to have tremendous uptake on the products and things that we've sold is that we try and work in that. You tell a story in the book about being at Arnold's charity event where there was a lot of demand, more demand than there was supply. And the person that you met there said, when there's that much demand, you have the capacity or you create even more scarcity. Explain to me why that's the case.

So this guy was like an Eastern Block guy, came here, definitely been through rough times, big dude, and he sold ultra high-end jewelry. So I think the pieces we're talking about seeing, you know, one million, five million, ten million dollar pieces of like status. They weren't even jewelry at that point, right? And he figured out a way to do this. And this guy was a master.

And he told them at the fundraiser at Arnold's house, they had more demand for tickets from the, from the year prior. They had sold 200 tickets, I think at 10 grand. And instead, he told, or it might have been 5 grand. And instead he told them to cut it from 200 to 100 and raise the price to 25,000 a ticket. And he's like, and the charity fundraiser was like, dude, I don't know about this. Like, what if we don't sell any of the tickets? And he was like, fucking trust me.

And so the demand went up and they cut the supply. and then they jacked the price. And he was like, we made more in selling tickets than we ever have, and we haven't even started the event yet. And so they had made more just selling tickets than from the auction than they had the year before because he had learned how to master supply and demand. And so I remember seeing him do that, and it was such like a pivotal moment for me. That's why I tell the story in the book is that I truly think that the strong is

the single strongest factor in all of pricing is supply and demand. And I think a lot of people don't take into account and that you can, you can manipulate it. And that's fundamentally what we're supposed to be doing here. We're manipulators of demand when we're marketing. We're stimulating. We're artificially inflating it so that we can sell what we want to sell. And so if we can play that dance, then we can get the outcome that we want. And I think that I talk about that stuff in the book.

And I think when I was there, it was impactful. You know, it's interesting because there's still questions coming in on the chat about how this applies to e-commerce. And it's this idea of where you take the sale is. is like where your business ends. And because if you're selling on Amazon or even if you're selling on Shopify, if you're selling any stuff, the idea of limiting the amount that is available is a little bit of a foreign concept unless you're launching them in connection with an NFT, which I kind of think might be around the corner.

You could do flavor drops. You could do. Sure. But even beyond that, Alex, what you said earlier about taking the conversation off. of that primary sales channel where now your platform like Amazon is really just a place where you're collecting leads at break even because you're having all these buyers flood in but the entire business is is constructed to give the customer an unbelievable experience that gets them to their dream outcome the business is actually the backbone it's not it's not the front right it is

it is everything else that overcomes their challenges. Like you mentioned those partnerships with outside vendors. It is the memberships on the back end. It is the offers that you send them in the customer follow-up process. It is that entire structure. And all of those can be limited. All of those can have an amazing amount of scarcity. And I think so many people in our circle, specifically like e-commerce circle,

they don't think in terms of scarcity in a positive sense, meaning limited the amount that is available because they're just thinking about selling the next widget. And the beautiful thing about what you just suggested is that when you're able to have that flip and realize that you can generate demand, you can pull levers in your business all day long. And that's when it gets fun because you're literally liberate. to just do whatever you want in the business that isn't the best service to the customer. Yeah. You're getting like thousands of subs a day on your YouTube channel.

I love and hate you for it. Because you're the one YouTube business channel that's better than me. The only one. The only one. Gary Vee and Gary Vee's got nothing on me. But Alex Harmosey is better than me. And so the market has spoken. You're doing great.

What is the reason you think that that, which is like, it's just a passion project for you. Yeah. Why is that growing so quickly? And why did you even write the book besides the fact that you need the 99 cents? It's mostly the 99 cents. So I just need to get that out of the line. Obviously, capitalism. Yeah.

Yeah, he's a capital. So, yeah, I mean, Layla and I, we have a portfolio company's, under the umbrella acquisition.com. And so the book is kind of the launch of that. And so, you know, we take companies between three and 15-ish million, and we're, you know, with the goal of taking them to 50 to 100. And so, you know, we've got three companies that are in there. We started this about a year ago.

I've wanted to take on, you know, one company-ish quarter. That's kind of a pencil-in goal. We started a year ago. We have three. And so we're four months in and we have three. And we've turned down probably 150 companies. And it's really just like this is just a way for us to help 99% of people for free. And for the 1% that are hyper-executors who can take something and implement it immediately

and see their business go from 500 grand to 3 million or 1 million to 5 million and then want to allow us, you know, to participate in the growth with them, we can invest alongside and crush it together. And so that's kind of the idea. It's like, is there a way that we could create a business? business model where we could just help everyone and still have the people who need a more customized like, you know, when you're going from five to five, you know, 50 million, like, it's like, buy my course on. It doesn't really, it doesn't really, you know, lend itself to that type of solution.

And so it's like, okay, well, how do I work with the people that I only want to work with? And then how can I give everyone else what they normally are paying $5,000, $10,000, $20,000 for and give it for free. And I can do it from the perspective of someone who's not made their money selling a market, but actually market. Yeah, the example I'm thinking of, I'm comparing you to Taylor Swift. For 99% of people, Taylor Swift music is free. You can get it. Actually, she might not be on Spotify, but just go with me.

All the music's free. You can listen to it any time you want. And for a small fraction of people, they pay her a million dollars to come sing somewhere. You're kind of similar, right? You're like, for a small percentage of people, you're coming in and taking a nice swat of business and helping them grow from 5 to 50. I freaking love this. This is the business, Taylor Swift. Is that with the headline?

You're the Taylor Swift of online business, Alex. Alex, I am proud to call you, my friend. I am thankful for your friendship. And I told somebody, I'm so glad I was friends with you before you were. wrote this book because I would have been fanboying like a madman. I'd be like, this person's the smartest man I've ever met in my entire life. The book is that good. Like, it's, it's kind of weird.

I only, I only ever had this experience with one other person. I became a friend, a friend with a guy named Dan who had won the TV show Big Brother. And I don't watch, I don't watch Big Brother. but after I became friends with Dan, I was like, oh, that's so cool. Like, I'm going to go back and watch your seasons. Turns out he was the greatest big brother player of all time. And I had no idea.

And I was like, I'm really glad we're friends before because, like, I didn't know you were, you were the Dan. That's how I felt about you after reading this book. I'm like, this is the smartest person alive. Like, this is my homie. Like, he lives up the street. Like, I can't, like, I can't believe this. So, like, my daughter even likes this guy.

She doesn't like, hey, man. He's like, $100 million offers to add. I don't feel like we've got enough affiliate offers in here. So, like, I'm not just saying this is your friend, but this is probably the best business book I've ever read. It's really, really freaking good. So, well done. My friends who are watching, there's still over 150 of you watching. Go on Amazon.

Buy this book. It's called $100 million offers. It's by Alex Ordemozzi. Click write a review when you're done. Because it's 99 cents. And if you don't make a million dollars from reading this book, you read it wrong. You read it wrong. Well, the book's a scam, right?

If you don't make a million dollars, then, you know, that's what it is, right? That is, that's not a legally binding guarantee because I have no affiliation with this book. But, like, if this does not radically change your business, we're doing something wrong. You misunderstood. I was going to call it a million dollars in 12 months, but it was already taken. My second favorite name. You should have called it 100 million. $100 million.

$1,11 months. In 11 months. So Tim DeMasters says, I just bought a million copies. Did I do it right? You did it perfectly. Thank you, Tim. I'd say it's a good start. That's a good start. Just for a little bit of context to everyone else here, the book's broken into probably like three main sections. So you've got the primary section, which is picking the right market to go after, which I think Brian and I had a lot of conversations about. But like, there are ways to pick the right markets that are probably counterintuitive.

And so this is how we pick niches that we think are going to do well. and it's not complicated, it's just different. And that is what unlocks the pricing power, the purchase of power price, things that we talked about, charging what it's worth, getting a premium, over delivering, all that kind of stuff. The second kind of chunk of it is the actual product itself, which is kind of the entire ideation, the different lenses and perspective for the rich. My favorite part. Yeah, and that's, and candidly, that's the meat of the book. I mean, because that's, it should be. It's about the product.

You know what I mean? And so that's where we talk about the value equation. We talk about how we can solve problems, the six different parts of the cube in terms of delivering. on the product. And then the third main section is what we call, or what I call enhancers. And so that's the bonuses. That's the scarcity.

That's the urgency. And fun, fun fact for everyone, most people conflate the two. Like, scarcity is a function of quantity. Urgency is a function of time. And so you can have just urgency and you can have just scarcity. Or you can have urgency applied to bonuses,

scarcity applied to bonuses. You can have a scarcity applied to a guarantee. Like, there's different ways you can combine these things. guarantees. There's four different types of guarantees that exist. A lot of people don't know that. You can also combine guarantees. You can have like a 30-day unconditional with a 60-day conditional. You can have an anti-guarantee. You can have an implied guarantee, which is the fourth type of guarantee. And so I talk about the different guarantees of the pros and cons. I've used all of the guarantees in that book. I pulled out my 13 favorite that were the highest converting for us. So I have those in there. And then finally, one of the sections I think that's underrated is just naming. So like how do I go about naming a promotion or how do I go about naming a product? It's more about promotions. It's kind of at least how the naming section is set up. But it's like more about promotions and bonuses is how to name those things. And there's some interesting things on like how to rhyme the names, how to alliterate the names

and things that make names catchy and stick that have just been things that I've found over time that I think a lot of people find valuable. Because a lot of times simply by changing the name of the promotion, you can three or four X, the conversion, even though you haven't even changed the product. And so that's what's crazy, right? And so it's like sometimes people just miss the most basic thing. It's like you're six inches away and you just need this last push. And that's why I pulled out the naming because I thought it was an important

component to wrap the whole journey up. So that's the book in a nutshell. I think that's why we've had such a high return on advertising. It wasn't, you know, as much as people enjoy our sales content and the pricing stuff that we talk about and all that, I think that at the end of the day, getting the product to be so good that people can't help the lineup and buy it. That's the goal. And let me wrap.

with one thing that is early on in the book that is so motivating and inspiring and uses the best analogy possible, baseball. The best thing, the biggest win that you can have in baseball is to score four points. The absolute best case scenario is to walk up to the plate with the bases loaded and to hit a home run. We call that a grand slam. That is literally the best play that can happen in the entire sport. But in business, the great game of business, you get to take as many swings as you want. And just hitting one grand slam in business can make hundreds of millions of dollars.

And so often we get caught up in getting it just. right and making the one thing that we have going, I call it the golden turd, polishing it until it's perfect and hoping that it becomes something one day, instead of just swinging and swinging and swinging and swinging until we have the grand slam. This book gives you the loaded bases, right? It can't help you connect. It's not going to do push-ups for you so that you're stronger, but it loads the bases for you.

And you get unlimited swings in business until you die. You can keep swinging and you can keep trying different experiments. And eventually you're going to connect. And what this book did for me is make me feel like I was coming up to the plate with loaded bases. And now it's up to me to become the person who has the skills and the habits and the mindsets and the beliefs and the right approach for being able to swing and connect and hit a home run. And when you've got the bases loaded, it's a grand slam offer. So my friends, as someone who cares, go get this book and go through it and let it impact

your business. Because this world is filled with business owners, entrepreneurs, marketers, that are in it because they want to do something for themselves, which is a great start. They start a business because they want to have a different life. But you have real freedom and control and upside and value and freedom and peace of mind when your business is completely in service to the customer. The beautiful irony of entrepreneurship is that you get everything that you want as soon as you build the business that is completely in service to everyone else. That is the beautiful irony of it,

is that entrepreneurship is learned selflessness. And people on the outside see rich people and they think it's all about selfishness, which brings more people into the game. And they slowly discover that the more that it's about them, the more they lose. And the more that it's about other people, the more they win in the process. It's a beautiful, virtuous cycle. And this is a playbook, $100 million offers, how to make offers so good people feel stupid for saying no, is a playbook for actually building the business that has the foundation to be completely in service to other people and help you get everything that you want in the process. Please give some hashtags and some thank yous to Alex Hormozzi for hanging out with us tonight. Alex, I appreciate you. I appreciate you.

I appreciate you. I look up to you and I want to be you when I grow up. Thanks for hanging out with me, buddy. Harley. Thank you so much, Ron. You guys are lucky to have. That was like a phenomenal synopsis, by the way. That was like such a beautiful salute by the way about entrepreneurship. Thank you guys all for giving me, you know, giving both of us your attention or lending it to us tonight. I hope you got a positive return on it. That's always everyone's most valuable asset and I appreciate you investing it with us. Thanks, everybody. Go get the book. Leave it or review or else. Good night, everybody. See ya.