Hey friends! If you're such a person who wants to create a massive business or wants to grow his business upto $100M or more then this video is going to be my one of the best video on the business. And how am I so much sure about it?
Because recently I read a book after reading which that book has come in my all time best business books list! The author of this book says the things he has told in this book people sell the same things by making courses and I totally agree with him! Which book am I talking about?
The name of the book is $100M by Alex Hormozi! The story of Alex Hormozi is really inspiring, struggle, cheating, debt, hard time, by fighting with all these bad things he has put himself at such a place that he is making more than $100M yearly! How did he do that?
The reason behind his huge success one of the biggest reason is to create Grand Slam Offer in his business. The offers which customers can't deny! In this book, he has shared how to create such offers.
Which I am going to share with you completely free of cost! My only request is, if you enjoy this video then subscribe this channel because I am going to make such business related videos more. Now, let's start with his book!
Imagine Alex Hormozi is standing and a businessman comes to him and says Alex, you are making more than $100M yearly my business is also doing good but it's neither growing much nor dying. What would you suggest in that situation? You know what Alex Hormozi will say?
Well, he will say any business is either growing or dying. There shouldn't be anything in between! If your business is stagnant then it's dying.
And there are two most common reasons behind that. First reason is, not enough clients. Second is, not enough cash or profit.
Some people have clients but not profits, right? Whereas on the other hand, some businesses that grow or the businesses that are dying but want to reach the grow stage they have just three options. First option is to get as many customers as possible.
Second option is, to increase the average purchase value of their existing customers. Means that the customers who were buying things worth 100 rupees earlier, now if they buy things worth 500 rupees, then automatically there would be profit and the business will grow! And the third thing is, to get them buy more times.
Means that the customer who was buying a thing worth 100 rupees once now you can make him buy things worth 100 rupees monthly then your business will start growing. These three things sound easy but they are very powerful but execution is very hard due to just one problem and Alex Hormozi call it 'The commodity problem'. Maximum businesses sell their products as commodity!
Due to which they stuck in the race of pricing and they die or not make profits. Let me give you a simple example. Suppose, there are two people who are selling oranges, that is a commodity!
So any customer who will go to them then he will check the both shops and the shop that if offering oranges at lower rates because the thing is almost same on both shops then on the basis of price, he will buy the cheaper one. This example is very simple but many big businesses do the same mistake, that they sell their product as commodity! Due to which they have to lower their prices.
Have to reduce their profits, and this is the reason, due to which entrepreneurs fail. Or if they don't fail, they aren't able to become rich! So, what's the solution of this problem?
Well, the solution of the problem is to create a grand slam offer for your product. Creating such an offer so that people can't compare your product or services to that of others. Let me give you a simple example.
People sell hair-cutting services in the salon, which is like a commodity that we get our hairs cut here and there. But a person comes, instead of selling hair cut, he creates such an offer Diwali free haircut offer where he charges for one service only, beard shaving or massage and give the other service like haircut for free for the first customer, and along-with it, if he guarantees that if the person doesn't like the haircut then you will get the money back! By doing this, that salon business would differentiate itself.
In short, what has happened here, creating a good offer, adding value in it, taking guarantee for that, and give them many options for the payment, if a person does that then all those 3 things become possible! First, he can get more customers, if he has more customers, then the average purchase value will increase or many a times, people will buy more times. If you create such types of offers about which we are going to talk today then you can generate a lot of leads and offers!
Well, there is one more interesting way which Alex Hormozi uses to generate the leads to grow his business or to increase the customers, average purchase value that is Organic Growth on Social Media. He has not told this in his book but you can see this clearly if you visit the Alex Hormozi's channel you see that he is investing his time and money on the organic growth, despite making $100M yearly. Because that is a very powerful thing to create your brand and business.
So, if you want to learn building your personal brand organically on social media or YouTube or want to learn, how YouTube can be a lead generation machine then I am going to host a business e-meeting in which I am going to invite you especially if you're a business owner you join that I am going to share all my strategies in that e-meeting by using which I have generated thousands of leads and I keep generating leads. Leads mean, I keep generating customers. If you're interested, then the link is in the description, go and check out.
Now, talking about the video creating offers is a very good thing but Alex Hormozi says, the thing that is more important that offers is to understand the market. The marketing professor a renowned institute asked a question that you, for example, are opening a hotdog stand means you're opening a shop of 'Vada-Paav' and you can get just one advantage over the competitors what advantage would you take? To this, many students said I need advantage in price, taste, value, quality, customer experience they named many things, and gave many answers and then everyone was quiet.
After which the teacher said while smiling, that if you can get just one advantage over your competitors which you should have is 'To have a starving crowd'. Let me explain with an example. I have a friend who does a job somewhere!
That is an official location! There is no option to eat there! Except one canteen, where he can go and eat food.
And my friend complains a lot that the food there is very bad and expensive, food is delivered very late and is very expensive also, he keeps complaining but buys the food from there why? Because he doesn't have any other option! Whenever he feels hungry the only option he has is that canteen!
Due to which that canteen is running well! And this means the starving crowd. Let's understand with one more example.
A poor man will never buy a bottle worth 100 rupees, but suppose, you're in a desert and the poor man has 100 rupees and there is no option of water nearby and the bottle is available at 100 rupees then he will buy the bottle worth 100 rupees! Right? This is called understanding the market.
Where is your starving crowd? If you want to serve your starving crowd you have to focus on the 4 indicators! One of those four indicators is massive pain!
You have to serve the people who are in massive pain! For an example, suppose there is a person who is in massive pain! He is in massive pain!
He desperately needs a painkiller. In that situation, if he is not getting any medicine then he will spend 1000 rupees to go to a hospital, and it has happened with one my friends. That's why, the first thing you have to see is if the market has any massive pain, which you can end.
The second thing you have to take care of is 'purchasing power'. He is in the pain but he has no money then it won't be a good market for you! For an example, suppose it's raining.
A person doesn't want to get wet, he is in desperate need, but because he has no money so he won't be able to buy the umbrella. That's why, there must be purchasing power. Third, they should be easy to target.
Suppose, the umbrellas that I am going to sell so can I target easily that who have umbrella and who haven't! And the more I try to sell umbrella to them the higher the chances are that they will buy the umbrella, if I am reaching to a right audience. Third thing is, Easy to target.
The people you want to sell your product to, should be easy to target. And the fourth is, growing. Alex Hormozi gives an examples on this.
He had a friend who was a good entrepreneur. He was very smart and doing everything perfectly. He was providing good value, was creating good offers, was doing everything perfectly.
but still he was not profitable and growing because he was in a shrinking market. He was in the newspaper industry! And you know, the demand of newspapers is decreasing!
That's why, he was not able to grow! But as soon as he changed the market he started selling covid masks in covid all his skills came in handy and he became a millionaire by doing that business. That's why, you have to focus on the growing market.
To summarize all this, there is a formula you can use, starving crowd is greater than the offer strength is always greater than the persuasion skills. Maximum people try to persuade! But if you create a good offer then that is more powerful!
But the more powerful thing is, selling to the right market. That businessman understands this thing. But he asks, how can I create a good offer?
How can I create a grand slam offer that has helped you the most? Then Alex Hormozi says he explains an equation, 'The Value Equation'. He says, you can't create a good offer unless you're giving good value in the offer.
He says, a lot of entrepreneurs are afraid of charging high, but Alex Hormozi says charge as much as you can! If you can charge 1 crore, then charge one crore. But charge according to the product value, you can't charge more than the worth of product.
Like for example, you're selling your services and charging 1 crore for that. Then it doesn't matter! If your services are helping the person make 2 crores from 1 crore means your services are valuable and worth, only then charge 1 crore rupees.
But if your services are not giving any benefits then you can't charge 1 crore. So, what's important here? Creating value is important here.
Becoming the capable of giving more than what you get, giving things worth more than what you get. For that, you will have to create more valuable product. And for that, understanding the value equation is very important.
There are four variables of the value equation! You have to increase the two variables that are on the top and you have to decrease the other two variables. In which the first variable is, the dream outcome.
For example, if a person is obese and he wants to be fit, so what will be his dream outcome? That you're helping him get fit. So, if you're giving such a product or service that is fulfilling their dream and if it gets completed in a good way then it's your first variable.
Like, you help them lose 30 kgs. You have such a product or service! This is the first variable.
Second is, Perceived likelihood achievement. You have made your product or service that is very good, it can help people lose their weight, but how the person is front perceiving your product, how likely is it that the person will be able to achieve your product, you have to increase this variable. The belief of the customer, that you can help them do this thing.
The more you increase it the more valuable your product will be. Third thing, that you have to decrease that is 'Perceived time delay between the start and the achievement'. Means how much time will it take to lose weight?
If you make a magical pill that can help the person lose fat in just one pill trust me, that product will be very valuable and you will easily become a millionaire. Because your time delay is very less. So you have to reduce the time also.
Fourth variable is, perceived efforts and sacrifice. Like for example, the example of pill I gave taking pill is very easy! It doesn't require time and effort.
You just have to open the packet and eat the pill! So, this is very less, ideally! So, the lesser it is, the better it is.
But if you say, I have to lose 30kg weight but you will have to do this much hardwork so this is what people don't like. So if your product requires less efforts and sacrifices then your product will become powerful! This is called the value equation!
Let's understand with one more example. There are two products, one is meditation and the other one is Zen-X. It's a medicine used to reduce the stress, and used in foreign!
See, the first variable is achieving the goal. Both of them can help you achieve your goal. Let's give one points to both of them!
Second is 'perceived lack of achievement' Many times, people don't trust meditation much, to reduce stress. Whereas they have a lot of trust on that pill that if I eat this pill, then it will reduce my stress. So, Gen-X won one point.
Third is 'Perceived time delay between the start and the achievement'. In mediation, there is no time limit. You will have to do meditation repeatedly only then you will be able to control your stress.
But if we talk about Gen-X as soon as you take the pill it will start reducing your stress. Means that the time delay is very less. Here, the Gen-X won!
Fourth is 'Efforts and sacrifice'. For meditation, you will have to invest time and make efforts and sacrifices you will have to leave some things for meditation so there are more efforts here. Whereas, in Gen-X, you just have to open the packet and take the pill.
There are less efforts and sacrifices. So here again, Gen-X won! That's why if you see, these pills like Gen-X are in great demand.
There is a billion-dollar industry! Because it is creating so much value for people! The question is not that for how long that is beneficial for them!
The thing is, it is making money! And I am explaining the same, how to make money! My personal opinion is that, meditation is the best.
But what is in demand, I am trying to explain you that. Again, if we summarize you have to focus on these four things, in order to create a valuable product. Now you have understood that how to create a valuable product by focusing on four things.
Now let me tell you step-by-step that how to create a good grand slam offer. For that, you have to follow five steps in which the first step is, to identify the dream goal of your client. What you have to do, for example, you're a health-coach or you're in the health industry the dream goal of your ideal customer can be 'to lose weight'!
For example, losing 20 kgs in 6 months. Identity, what your customer wants what their dream goal is. The second step is, you have to make a problem list.
In order to achieve that goal what problems can your client get to achieve that dream goal write all the problems in detail! Maybe he isn't able to go to gym, maybe he is not getting time, or maybe his diet isn't correct there can be many things, write all those things in detail! The detailed you write, the better it will be in third step.
Now you have to create a solution list. Now you have to create solutions related to all the problems. Like for example, diet is important to lose weight.
But having a diet is very expensive and not tasty! Suppose, this is a very common problem! So, what can be the solution?
Now, make the solutions for that. Start writing, how to create a healthy diet how to create cheap diets, you can make a list of solutions. If you add 'How to' to those problems, then a solution list will get created this is what you have to do in the third step!
What you have to do in the fourth step you have to give 'delivery solution'. Means, whatever solution you have written like 'how to create a healthy diet cheaply', so how will you deliver it? You have to identify that.
One solution can be that you shop on his behalf and cook food for him! I know this is little extreme, but I am just telling you! Whatever solution you're getting in mind one solution is, you record a video and tell him that how he can make a cheap diet.
Maybe you give him a workbook with the help of which he he make cheap diet. You can explain on call also. So, whatever solution you're getting in mind, good or bad, will decide it later but for now, make a list.
Then the fifth step is, Trim and Stack! You have made the solutions that how you can do it, you have the list, now you have to put that in one of the four quadrants, you can make four quadrants in which the one quadrant will be 'high cost, high value'. Second one is 'high cost, low value'.
Third is 'low cost, low value'. And the fourth is 'low cost, high value'. Now you have to put your delivery solutions in one of these four quadrants.
Like for example you shop on their behalf and cook food for them! So, this will be high cost and high value. Both, value and cost are high!
Cost doesn't include just money, but also include your time and energy! People will like 'high cost, high value' solution but this is not scalable. So, you have to take care of it.
Ideally, what Alex says that your delivery solutions should have low cost and high value. Scalability would be more in that! That's how you can trim and stack and create different products to give people.
This is how you will understand, what you're going to give in your product, and on that basis, you can create the offer, that if you're having problem in making diet, then we have this product, that will help you create good diet. If you do these five things, then you will be able to create a good product which you can deliver to people. Along-with these five steps, if you add these five elements then your grand slam offer would be ready!
What are those five elements, I will tell you in short. First is, scarcity! It's not that you try to sell everyone, there should be some scarcity!
I've talked a lot about scarcity in many videos I'll give you the link you can watch those videos, if you want to know in detail! Scarcity means, the limited watches have high demand, because they're scarce. So, your product should have scarcity!
It's not that you're selling everything to everyone. That's is practically impossible. Second thing is urgency!
There must be some kind of urgency to buy your product. If there is no urgency in your product then it won't be able to get sales. Third is, bonuses.
If there is any product that has some value but if a person gets something extra with the product then everyone likes that. For example, I am selling a pen! People will come to buy a pen but if I give a pen holder along-with pen or give something in bonus then people like it a lot.
Every person wants something extra. So, if you give something extra with your product then it will increase the product value and will make your product strong. Third is, add bonuses.
Fourth is, give guarantee. If you have created a good and valuable product then you shouldn't feel hesitated to give guarantee. Because you've created something valuable.
That's why, give guarantee so that the clients gets satisfied that his money won't get ruined. Fifth is Name. Give your product or services a good name.
Give such a name that attracts people. If you do all these things then a grand slam offer would be ready! People won't be able to deny it.
Or it will be very hard for them to deny it. Well, $100M Offers is a very interesting book! If you want me to talk about this book in detail then subscribe the channel and as I told you, if you're an entrepreneur or a businessman if you want to make your personal brand or want to grow online organically then the best way is having a strong personal brand, which Alex Hormozi has created.
Especially organically! Because you see, when you try to create brand by running ads then they get a lot of hate. But those who grow organically, people love them more.
So, if you want to learn from me that how I am growing organically and generating customers and creating personal brand, and what my strategies and blueprint are I am going to share all those things in the business e-meet you have to fill the registration form from the link given below, so that we can come to know that you're genuine, that is going to be very valuable, so must attend that, see you there. But if you're not a business owner, then it's fine I'll keep making business related videos on the channel so subscribe to the channel and press the bell icon! That's it for now.
See you in the e-meet or the next video! Till then, bye!
