The Game w/ Alex Hormozi

You're letting people know one-on-one about the stuff that you sell. Today, Alex (@AlexHormozi) talks about how you can possibly leverage referrals and affiliates, an interesting story about cold outbound sales, and how you can profitably grow, even if you're capital constrained.

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:

(1:56) - Oftentimes, using the cold outbound strategy is getting affiliates then affiliates to customers. Getting affiliates are more affordable because they are worth more than a single customer. Alex shares a story of two girls selling energy drinks at the beach.

(3:20) - Alex dives into the math of how much these two girls end up earning. He discusses the cost of shipping, the product, the labor, etc.

(4:28) - This is where having a very good product is so important because if you can give a can away for free the thing that you sell & know X percent of people will buy again, then you have an incredibly viral product.

(7:21) - Marketing always works. It's just a matter of how efficient is it. The problem is it's hard to reach every single person in the world. Since it's a matter of efficiency, we need to have benchmarks such as LTV, and CAC ratio (cost of acquiring a customer).

(9:13) - Cold outbound strategies can work for any business. You can use it for direct-to-consumer business and other ways like door-to-door, emails, direct mailing, etc. You're letting people know one-on-one about the stuff that you sell.

(10:14) - A big thing to consider is looking at the ideal cash flow of acquisition, meaning in the first 30 days, the customer, we wanna be able to make back the cash that it costs us to acquire them.

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Cold Outbound Sales Magic | Ep 439