The Game w/ Alex Hormozi

You need to lay down all the right cards before claiming your win. Today, Alex (@AlexHormozi) talks about the different factors that should be considered when you’re reopening your business after COVID-19 and making sure that you’re reaching the right percentage points in order to become profitable again.

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:

(10:59) - The profit model is not built for large group training to not be able to do large group training and Alex explains why. Even though you get permission to open back up, it doesn't mean that you're necessarily gonna have the profit to be able to do so.

(1:57) - There are two main components of opening the right way. The 1st is you need to price your services at the price that that service would be normally offered.

(2:49) - Even if not everyone will be coming back, the good news is that there are those who want to come back desperately. The 2nd component is “how do I know when it makes monetary sense?” Alex explains this concept with some math

(4:22) - Make sure you getting an 80% gross margin minimum, which percentage points matter, and when you start your customers’ billing

(8:32) - Once you overcome the math, you’re gonna have to make harder decisions in order to be more profitable

(10:15) - You can click reset on your business. Alex shares with us 5 things you need to do right now in order to scale the business again

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Reopening The Right Way | Ep 206