Two words: Lifetime Value. Today, Alex (@AlexHormozi) breaks down a simple exercise that will help you find where you should be placing your energy on in order for you to open more opportunities for growth in your business.
Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.
Timestamps:
1:18 - There are 2 ways to grow a business, one of them is through Acquisition. Alex shares some sub-factors under this type of business growth
4:00 - The backside of business is through increase, specifically customer LTV
7:06 - Here are 5 ways to increase the backend of a business: increasing the price, decreasing the cost, resells, cross-sells, and upsells
11:20 - At the end of the day if you're trying to grow your business, the point of doing an exercise like this is not to feel overwhelmed but to feel clarity
Follow Alex Hormozi’s Socials:
https://www.linkedin.com/in/alexanderhormozi (LinkedIn ) | https://www.instagram.com/hormozi/?hl=en (Instagram) | https://www.facebook.com/alex.hormozi (Facebook) | https://www.youtube.com/c/AlexHormozi (YouTube ) | https://twitter.com/AlexHormozi?s=20&t=J9vPh75tO3ow9xExYLsBDQ (Twitter) | https://www.acquisition.com/ (Acquisition )