The Game with Alex Hormozi - How To Make Buckets of Money By Beating Back Comfort | Ep 93

Episode Date: December 18, 2018

"The only way to break through that is to fall in love with your customers." Today, Alex (@AlexHormozi) discusses strategies for staying motivated and growing your business, including understanding and fulfilling your client's needs, bridging the gap between clients and gym owners, and falling in love with your customers to create solutions and being excellent with your field.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:(0:41) - Strategies for staying motivated and growing your business(1:52) - Need to connect with your customers for success(7:15) - Benefits of falling in love with your customers(8:36) - Creating content that connects with customersFollow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Hey, what's going on? Everyone, happy Tuesday, Tactical Tuesday. Get stuff done. No Talk Tuesdays. We actually have a policy at gym launch that on Tuesdays we don't do meetings so that people can get stuff done. That being said, I've been slacking on the constant lately, so I'm trying to up my game. And in reality, I have all these things that will come up during the day that I'll want

to bring up. But if I'm like in the middle of something, I can't make it. And then usually, like, I lose my zest for it. Anyways, I was literally just talking to Dave Dunham and about this. He's like, hey, you know, we went from scarcity to abundance. We've hit all of our EFT membership goals. We hit our income goals and he's like, I'm just really having trouble pushing through, you know, like just really wanting to get to that next level, right?

Like it just, there's diminishing returns. And it, you know, he's like, you know, what did you do to stay motivated? And the reason I want to make this video is because I also talked to our sales team last night about something really similar to this, right? Because one of the things that happens, and I'm not saying our sales team suffers from this, but like sales teams in general suffer from this is that especially if you have a good team, they will make enough money to satisfy what their goals were coming into the job, right? So they make enough money that they have satisfied their needs. You know, when a sales guy is taking home 150,000 a year and he's a

single guy, most people have pretty much satisfied their needs at that point. And so that's one the main point is why I say like people with kids and people who are married tend to make more, but what that is is they've expanded, they've, they've, they've, they've, they've, they've, they've, they've, they've, they've, they've, they've, they've, they've, more money because they have no choice. Now, the key here to, like, breaking through the, the, the productivity plateau or whatever you want to call it for, like, making sure that the business can continue to grow is that you have to not be fulfilling your own need, but fulfilling the needs of your clients. Um, and so for those of you who know how, like, we run at gym launch, there's so much

stuff that we were building constantly because the need that we were trying to fill is the gap is the problem that we see in the industry. Why is there no software that actually makes end-to-end from Click to EFT seamless? That's a huge need. You know what I mean? Like how is retention, all the retention systems? Why are those not automated yet? It's a huge need, right? Like, how can we create continual lead gen for our gyms on a regular basis? We had to build an entire apartment to do that and that took time and now it's done and it's cranking but like each of those things were huge needs that we're trying to fulfill and so right now if you're in your gym right now and you're like man I don't know what to do I don't know how to like get motivated again it's because

you're trying to get motivated based on your need right you're trying to get motivated based on what you need and the reality is like the amount of money that Layla and I make every month and I promise you I say this not to to brag but I say it to demonstrate is more like we could retire off the amount of money that we net every month. It's insane. And it's because we don't, like, it's just a byproduct. Like, we don't even think about what's coming in. All we're used, like, we just take that stuff and we're like, what can we use this for to build something sick and even more epic for the gyms that we have? And so if you can connect, and this is why this is like the, like, the really real, this is like the non-sexy stuff that, like, no one wants to talk about

is like if you don't love your customers, right, and you're not in sync. If you don't feel their pain that they're feeling, then you won't be as driven to solve their problem, right? And it's the difference between shooting for a goal and solving a problem, right? Goals, you can tap, you know, you tap the board and then everyone comes down, right? Like, hey, we're going to hit this this month. And sometimes you do, but then the next month, you almost make up for the fact that you doubled your sales one month because you actually tried, right?

But then the next month your sales drop in half because you burned out. And it's because you're trying to hit a goal rather than solving a problem. Because when you think about things from a problem solving standpoint, you have to think about them in a way that you want them to be solved and stay solved. Right? Because like, hey guys, real quick, if you're new to the podcast, I have a book on Amazon called $100 million offers at over $8,000 five-star reviews and it has almost a perfect score. You can get it for 99 cents on Kindle. The reason I bring it up is that I put over a thousand hours into writing that book. and it's my biggest gift to our community.

So it's my very shameless way of trying to get you to like me more and ultimately make more dollars to that later on in your business career. I can coach a partner with you. So that's my give. Go check it out, Amazon, and back to the show. That's the difference in terms of how you're thinking, right? And if you don't know what your client's problems are because you're not connected to them,

then you won't have a desire to go solve them. And then we set these artificial goals that are for ourselves based on needs that are irrelevant, right? because we don't need anymore, right? And so this is definitely me talking to the gyms that are more in abundance who have been with us for a while who are like, who are doing well, right? And so it's like, how do you break out of the, like, I went from barely making it to being stressed out to like, now I have a cushion. I've got cash flow and we've got regular profit every month. Like, how do I go to that next level?

And it's just understanding that it's not about you. Like you set the goals initially because you needed to. You made the money that you had to because you needed to. you set the systems in place because you needed to. But now it's not about your needs. It's about your customer's needs. And it always should have been. But you couldn't even see that in the beginning because you were in so much scarcity.

Right. But once you're out of that, you have to reshift. You have to pivot. And the real, real question is like, how do you actually connect with those client needs? Because let's be real. A lot of the gym owners that we have, a lot of them are guys who were skinny and then got jacked and then opened a gym that serves predominantly females who are 38 years old who are trying to lose weight after their second kid.

there's a lot of disconnect, right? You're like, I don't really feel your pain, right? Because I've never been overweight. I've had great genetics. I was powerlifting. I was doing cross-sfeit competitions or whatever it is. And so, like, your reality is not real for me. I'm only saying this because I know that now that we've connected with gym owners on such an intimate level.

And, like, I feel the pain of everything. Like, the amount of stuff that we need to do as a company is overwhelming. The amount of things that we want to do. The, like, the amount of mountains that we want to climb and we cannot hire fast enough. We have 70 employees. We're going to have 100 by mid-January. Like the amount of huge projects that we were trying to push forward to move the entire industry forward to take it from its knees to standing tall on its feet. Like if you can think about your clients like that and their problems like that, you will win. But it's not about winning.

And that's the thing. Right. Like it's about like how can I really, really solve this problem for these people? And if you are always thinking about it from that angle, I guarantee you they will always be more to do because customers are never. satisfied ever right like now if amazon prime takes tuesday to show up i'm like what the hell jeff like what's going on bro like come on like tick talk like i ordered this thing yesterday like where is it right but if you were to say that five years ago you'd be an absolute idiot right but like now it's expected because customer needs will always move forward right and so if you have that and you

over deliver don't worry they'll be dissatisfied soon and so it forces you to continue to innovate and continue to improve. And when you only think about them, you don't need to worry about competition because they're not doing shit anyways because they're stuck in the, well, I'm, you know, I satisfied my needs. Or they're in scarcity and they can't even think about anyone else that needs besides their own, right? But once they get out of scarcity and they get into complacency, that's the next big rut that most people stay in it. And the only way, the only way to break through that is to fall in love with your customers. And I'm being real. And a lot of people are like, well, I don't love my customers. If you're really, really real with yourself, right? Like, I don't

really love it. Okay, that's fine. Now, like, you have two options. Leave the business you're in and find the customers that you love or realize that you love being in business, right? Like, a good friend of mine has a cookie store and he's personal trainer. Does he really love cookies? Like, does he really love cookies? Is he passionate about cookies? I mean, sort of. You know what I mean? But he's not like, I'm going to change the cookie world. No, he loves business and he wants to be excellent at business. He is an addiction to excellence, right? And so if you can think about it from that angle, and then you can connect with, okay, how can I be more excellent? It's really looking at the customer problems and saying, how can I solve the next one?

How can I solve the next one? Here's a huge list of all of them, and I promise you, if you ask them, what are the things you're struggling with? You will get a laundry list that is longer than you can handle. And if you feel overwhelmed by it, that's a good thing because then you know that you're on the right track. So anyways, you probably do the difference between the content that's curated, the content that's like fresh on my mind. But anyways, guys, I hope that was, you know, valid before you. And, like, if you're in that complacent spot, like, you have to really get into your customer's needs and the problems that you need to solve for them and then prioritize those problems

and then attack them. Because if you do that, your customers will see that you care. They'll see how hard you're trying for them. And then they'll want to stay. They'll talk to their friends about how much you really give shit. So lots of love. Hope you guys have a text. Go Tuesday.

Get stuff done Tuesdays. And thanks for being awesome and amazing. and you know we'll tap a little like or tag a manager whatever anything if you think it was worth it all right lots of love guys have a great day and i'll talk to you soon