The Game w/ Alex Hormozi

The brand is a reflection of what a person desires to be. Today, Alex (@AlexHormozi) talks about how he would create a multi-million dollar business using nose strips, the directions he would take to market the product, how he would help solve the problems of his potential market, and how brands should look deeper into satisfying the desires of their customers.

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:

(0:48) - If Alex were to create a brand from scratch, he would get into the nose strip business for these reasons: high-gross margins, it’s “sticky”, and it helps improve people’s health. He would also heighten the branding element to have motivational words to serve as a reminder for people of what they want to be

(5:11) - Moneywise, this is what would happen if Alex were to create this nose strip business: Buy pricing and packaging the product (along with some upsells) reasonably, he would end up with make $16 gross margin on a $20 product and would make $80,000

(8:10) - If you develop a manufacturing capacity that creates the word that someone wants on the nose strip on the spot, it could triple the value of the product because it’s unique. And if you include an influence campaign, for example, you’d be making 40% top line

(10:25) - All that being said, this potential nose strip business could be worth between $40-60 million. Other than health, this would be a very motivational brand. It can target multiple markets from entrepreneurs to moms. It reminds you of the person you're trying to become, the character traits you're trying to embody.

(12:35) - You should angle the brand towards your audience, and not about you. Alex shares the story of The Garlic and the Ham and its lesson: you have to give people what they want in order to give them what they need

(15:39) - People will vote for brands that they believe in because it tells them the things that they want to believe about themselves

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Building A $50 Million Business with Nose Strips | Ep 448