May '24 • The Skool Games🔥
Entrepreneur's Edge Weekly Hormozi Roundtable Wk1 7 May 2024
Hey Guys,
Just watching the first week's recording of the Roundtable with Alex Hormozi and the team.
Here is a summary of the takeaways with some time stamps if you want to watch the video in the future. Details are at the bottom.
- 01:41 - Most New MRR in 24 Hours: A breakthrough strategy involving an initial low pricing offer that doubles after a promotional period, creating urgency and reducing churn by making customers reluctant to leave and lose their locked-in rate.
- 07:46 - Managing Churn: Emphasize the value of locking in customers with upfront commitments and clearly communicating long-term benefits to reduce churn effectively.
- 10:11 - Should I Niche Down?: Discusses the importance of focusing on a specific niche to lower customer acquisition costs and enhance marketing effectiveness. A targeted approach can significantly improve relevance and conversion rates.
- 12:40 - $100M Offers: Explores creating irresistible offers by ensuring that each component of the offer is perceived to be worth more than the price paid, effectively enhancing the perceived value.
- 19:33 - Product-Market Fit: Tips on continuously gathering customer feedback to refine products and services, ensuring they meet market needs and expectations, crucial for sustaining long-term growth.
- 22:00 - Where to Focus to get $100k/m: Prioritize activities that drive revenue—specifically, focus on enhancing traffic, optimizing conversion rates, and refining your pricing strategy to quickly scale monthly revenue.
- 26:00 - How to Make Things People Want: Emphasizes the importance of creating products based on customer feedback and iterative development, which helps in making offerings that genuinely meet customer needs.
- 33:12 - “But I Don’t Have an Audience”: Strategies for building an audience from ground up using a mix of organic content creation and targeted advertising to establish a follower base and drive engagement.
- 35:07 - Advice for People at $0: Practical advice on starting a business with minimal capital by focusing on essential spending and leveraging personal skills and networks to gain initial traction without significant investment.
- 40:00 - High Ticket or MRR: Analysis of the trade-offs between high-ticket offers and monthly recurring revenue models, providing guidance on choosing the right model based on business goals and customer behavior.
- 43:33 - How to Make a Good Course: Focus on creating concise, high-value educational content that directly addresses the users' needs, avoiding fluff and ensuring each lesson delivers actionable insights.
- 46:46 - How to Differentiate: Discusses differentiation in saturated markets by combining personal branding with proven business models to create unique and compelling value propositions
- 54:35 - How to Use Waitlists: Best practices for leveraging waitlists to build anticipation and maximize conversions at launch. This includes exclusive offers for early sign-ups and clear communication of benefits to early adopters.
Note there is a lot more covered in the hour, but these are the top points that will blow your mind with Value.
If you would like to watch the video you can sign up here for free.
Welcome to the Entrepreneur's Edge Weekly Hormozi Roundtable, your premier destination for unlocking the secrets to exponential business growth.
Each week, you can join the roundtable of driven entrepreneurs as we delve into the groundbreaking strategies of Alex Hormozi.
From creating high-value offers to mastering lead generation, this roundtable offers a unique platform to discuss, dissect, and deploy the tactics that have generated millions in revenue. Engage directly with thought leaders and like-minded peers in a dynamic, collaborative environment designed to elevate your business to new heights.
Talk to you soon.
Jerry
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Entrepreneur's Edge Weekly Hormozi Roundtable Wk1 7 May 2024
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