The Game with Alex Hormozi - How To Fan The Flame of Explosive Growth in Your Business | Ep 84

Episode Date: October 8, 2018

"Because once you have a deficit, then it means you can identify the gap and then you can solve it." Today, Alex (@AlexHormozi) talks about the importance of owning your circumstances and identifying the skills you lack that may cause your business to not be successful.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.Timestamps:(2:04) - Winners control their fate, not victims.(3:15) - Own your outcomes and circumstances.(4:17) - Identify deficits as skills to develop.(5:43) - Invest in yourself and coaching.(7:42) - Successful owners teach others for scalable success.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Hi everyone. I hope you guys are having an amazing Thursday. I will make this short, but I woke up with this idea today, or at least the topic that was on my mind. And it stems from one of the beta tests that we're running. So if you don't know what we do as a company is, you know, behind the scenes before we roll out any new execution or play, marketing, sales, otherwise, we'll test it out with 15 or so gyms and 15 representative markets. And at any given time, we have four or five different betas going. for different aspects of the business. One might be, you know, how can we increase show up rates? How can we get this page to convert better? How can we, you know, increase the sales percentage at a gym, whatever, right? And so we'll try out different scripts, whatever it is. And so we have beta's going at any given time.

Now, what I wanted to talk about today when I said the secret to our, you know, explosive growth, and for those of you who don't know, I think in the last, I think it's, I think we're almost at 24 months. Yeah, something like that. Anyways, we've gone from zero to, 30 plus million, which if you look at like the ink 500, we would be number one.

We need one more year in order to hit that, but that would be number one on the list by like 2x or 3x. So it's pretty cool. But anyways, the secret to our explosive growth comes from consistent high level of execution. It was like, well, yeah, duh. But the story that I wanted to tell you to illustrate this is that one of the babies that we're running, all top secret, of course, I ran a competition internally. And during that competition, everyone crushed their numbers for sales.

And then what's happened is that just in the last, you know, three, three days or four days since the competition has ended, the daily sales have cut in more than half as a group collectively. And it made me smile, but it made me realize one of the things that took me really long time to acquire as a business owner was how can you have consistently high levels of execution across the board, across departments every single day, day and day out? When you have competition, right, amongst yourselves or whatever, it's one of those things that drives teams forward, right? And why does it do that? Because of focus, right? It gets everyone to focus on one thing, which is why I talk about focus all the time because it's so powerful. If you can double your stairs by changing nothing except for focusing, it's pretty powerful, right? And so I was like, what is it that gets us to focus, you know,

a month in month out that doesn't need to have like a competition that we're running internally, right? The main secret is that like you have to genuinely believe that you're saving your prospects from a marketplace that wants to take things from them. And that's really what it comes down to. Everyone on the gym launch team genuinely believes that we are on a mission to save gyms and that the rest of the marketplace is not equipped or does not have the intention of doing the same thing. So either they have the desire to do the same thing, but they do not have the resource, to follow up on that promise, or they don't have the desire to do it to follow up or they don't

have either of them. And if there were one that did that, then they'd be having the same growth that we do, which we don't see anyone else who is. And so anyways, to kind of put this in a ribbon for you, if you look at your team and think, like, how can we, like, that's where like talking about, so Laila talks about this all the time internally, is that culture trumps strategy every single time. Every single time culture will trump strategy. And so the question is how much effort are you putting into the culture if that's what's going to trump your strategy? You can have the smartest business model in the world, but if your people don't have that drive, don't have that focus, then nothing's going to happen, right? Or it's not going to happen nearly as quickly as you want it to.

How can you elicit competition? Because like you can only run so many competitions internally, right? You know what I mean? Like you can run them. And then after a while, people start to get used to it, right? The only thing you don't get used to is having a drive to save because then it means that the problem is so much bigger than you and your company that you feel this constant pool to become bigger and to become better in order to solve the problem. And so it's problem focused. And so right now, if you're not communicating to your team and your team doesn't have that conviction, right? And that's why it's really important that you ask yourselves and you ask genuinely of your team like, are we doing everything we possibly can to help these people? Hey, Mosin, a nation, quick break just to let you know that we've been starting to post on LinkedIn and want to connect with you. All right, so send me a connection request and note letting me know that you listen to the show and I will accept it.

There's anyone you think that we should be connected with, tag them in one of my or layless posts and I will give you all the love in the world. All right, so let's get back to the show. And sometimes we can get lost in the day to day, which is why it's incredibly important to voice the vision of where you're trying to go on a regular basis. We probably, I mean, we definitely do it monthly because we have our monthly. monthly meetings where I have the whole team and I kind of go for you know to kind of restate the vision because obviously we always have new people that are on board every month we have new people who is as we're growing and they need to hear it but also it's just kind of repeated on a on a daily and weekly basis just more in

snippets because you're always on message and it's always talking about why we do what we do before we talk about how and the what of what we do so I'm its next talks about like the power of why and this is it because what it does is unlocks that same drive that competition does, but instead of competing against each other or thinking about your actual competition, which is totally a dumb idea, you think about competing against the problem, right? And then you have a foe that's much bigger than you, right? Like, we're the biggest in the marketplace, by a long shot. People don't know that yet, right? I mean, but we are by far the 800-pound gorilla in this marketplace. I can't look at our competition. There's no

point. So we have to look at the problem, which is still much bigger than we are. And so if you always look at the problem and the team genuinely believes that you really are trying to solve the problem. That's a big point. You can talk all day about how you're trying to solve the problem, but if they see how you walk your walk isn't like how you talk, then they're not going to believe you, right? But if you walk what you walk because you genuinely do believe that and you articulate that to your team, then you'll be able to have this consistent focus because every single day when you get in the team meeting, you're like, how are we solving this problem better? How much of a debt are we making? You know, how much, how much penetration do we have?

in our market right now in order to help all these people get to where they're like where they need it. If you talk like that because you genuinely are trying to solve that problem, your team will get on board with you because they're going to believe that they're doing something for like greater cause, which they are. And they should be as long as you're not lying, right? And don't lie because they will know, right? And so that's kind of, that, that was what was on my mind this morning. because I saw that the huge competitive drive that we had

between the gyms that were in this beta test. I mean, it was crazy. The average gym added at 12,500 using this one play in 30 days to their gym's revenue recurring, right,

using one of these plays that we're doing. And so, like, I could see the daily sales every single day that were coming through. And then, like, we ended that on

Sunday. And so I can see the last four days has been about half of that. And so it's just, it's just something like how can you heart it? Like how do you bottle lightning? How do you bottle that? You bottle that by attacking, by competing against the problem and not each other. And I think that's really the secret. So that's been the secret to our growth is that I am a gym owner and I really do want to solve gym owner problems. It's not a front or, or maybe I'm, you know, this is my elaborate evil genius plan of but but no I'm a gym owner and like I I I I slept on the floor for the first nine months in my gym I know what that's like and it sucked and I was not a fan of it and I don't want anyone else to have to do that I feel like we've been given a position

of power and I say power in a good way because a lot of people have negative connotations around power we've been put in we have a position of power we have resources both network wise and then also financial that we can we can spend the no gym owner can spend in order to solve problems that no one else been able to solve yet. And so it's really cool watching problems that have been that were huge in my life, get solved by the resources and the teams that we have now. And so anyways, it's, it's like I owe the industry so much because of how much it's, it's helping me out.

And so that's the drive that we have as a company, is to really solve those problems, like genuinely, which is why when we do these beta tests, like I could release all of the results, but the thing is, is that sometimes when we test stuff, like, it doesn't work. You know what I mean? And if you know something's going to work before you start it, then it's not an experiment. And that's Jeff Bezos is where it's not mine. But, like, nine out of ten times, you're not going to hit a home run if you go against conventional wisdom because conventional wisdom is usually right, right?

But one out of ten times, if we can hit a home run that's worth a thousand runs, then it's big. and so we've taken that on as a company. It's like we're going to fail and we're going to fail faster. I'm going to fail all the time. But when we do hit it and we hit it big, we're going to hit it out of the park. And so that's why we're trying to tackle really massive problems within the gym business. So anyways, sorry. That's just a little side note about us.

But that is our genuine drive and that's our goal and that's what we're trying to do. And I appreciate all you guys hopping on at 7 something in the morning to say hello. So it's up. and big things coming. Lots of love guys. Try to unlock that. Talk to your teams. Tell them why you're actually doing this.

All right. Have an awesome day. Ah.