3 Ways to Make $10K Cash With No Ad Spend (In 30 Days Or Less) [ALEX HORMOZI]

so if you need money that's number one easiest thing to do and so what i wanted to cover today was i was calling cash flows oxygen how to get some um but this is actually part of a larger discussion um that i'm half targeting towards my coaches um and half y'all can just join in on what i would be talking to them about and so um one of the skills that a coach has to have and if you are coaching yourself you are the coach you're the master of your own domain you're the coach of

your own business right and you have to coach you better than anyone else can right that's good to have outside counsel that's what we have coaching that's why i get coaching but you have to be your own coach because you're the one who's going to be making the decisions for your business more than anyone else right and so oftentimes when i am on the phone with a business owner i am listening for the majority of the time of that call and i'm looking for certain things and so some of you may have heard of a

swot analysis right strength weaknesses opportunities and threats more commonly now in mba schools they've actually reversed that and they called an atsu and what that means is opportunities threats are disproportionately um weighted as far more important and then then you have strengths and weaknesses and so the reason that i'm saying this is that most times when i'm listening to a client who's saying i'm struggling i'm having an issue where i'm at a bottleneck it doesn't necessarily need to be that they're losing money but just like i can't get past this point what's the issue i'm

going to be looking for cash flow opportunities that are sitting on the ground and massive threats those are the two things i'm looking for in the beginning once those boxes check off then we go down to strengths and weaknesses for example if someone is bleeding cash i'm not going to tell them to to to fix their culture right fixing their culture is something that they absolutely need to do but it's not going to be the thing that's going to save their business tomorrow right they need money and so like it's one of the things that

drives me nuts because it's not prioritizing the actions according to the to how important they are right and so an example of this i mean i just use the culture example but let me look at another one here's a more relevant one retention right and believe me i'm like the king of making sure that you're doing a good job to your customers right but if your retention is [ __ ] right it's absolute [ __ ] um that's if you need to make payroll in the next 30 days implementing retention system is not going to

solve your problem it's going to take 12 weeks for that set for that to pan out now this is what you should do absolutely after you have milked out all the big opportunities that sit in front of you and ensure that you're not going to kill yourself from a threat standpoint now if you're if your retention is like you're you know you're turning 30 mother month and that becomes a threat it's not even a weakness it's a threat itself to your business now the number one thing that i see and this is like when i'm

when i'm getting on the phone now and like i i occasionally take calls which i want to to kind of like just poke and listen um and i try not to advertise it because i i couldn't like i actually thought about this like yesterday i was like i wonder if i could take one call with everyone if i did 30 minutes for every person once a month and i was like oh no it's still taking me three months so i can't do it i tried and i thought about it it can't work so all i

do is give you the lessons that i have learned from the people that have spoken with and so if for example you don't have a one-on-one nutrition accountability program that you have plugged into your facility on top of your group training that is the biggest opportunity that sits on top of your business right now would you like to have an extra fifteen thousand dollars a month spent zero dollars in ad spend get it in 28 days and you have literally no risk and it's only profit that you'd add on top of your business basically no

cost you don't have that cool nothing else that you're going to do is going to matter and so this is called opportunity cost of all of the things that we can do doing this alternative what other things are we doing that we're saying no to right picking out which of the opportunities to focus on is usually the focus of a good coach and this is where experience of a coach matters because they have more plays in their arsenal they have more cards up their sleeve that they have seen be executed uh with precision over a

short period of time and so to a new coach they may only have okay we need to run more ads we need to work our leads harder we need to sell better those are all very true things those in my opinion would sit within the strengths and weaknesses area right but if you are bleeding cash and you need to make money fast right there are three things that will make you money fast one is if like all three of them by the way include selling [ __ ] to your existing customers that is it you

don't have enough time to start a campaign bring people in market it's not like that takes time and if you don't have it then there's only three ways to make money and all three are selling to your existing customer base all right in a gym the first and easiest and least amount of anything effort is to take three people run a reason why campaign which is like a uh hey i just turned 30 and because of 30 i'm gonna take three people with me on a one-year transformation it's gonna be awesome and i'm only like

i said i'm only taking three people on it's me three thousand dollars you know text me if you want it just like that you make nine grand all right you have 100 people you're gonna have to retake the offer alright so if you need money that's number one easiest thing to do you don't want to sell all of those limit it limit yourself but those cash pops help right cash is oxygen so you can buy yourself time to have more perspective to make better judgments about the business next play is you run an internal play

to your existing customers right now i guess this one would technically be like subset and subset b which would be the final two if you have like in a normal gym if you just want to run like a big booty boot camp or an abs challenge or uh whatever right doesn't really matter right buns and guts any of those things you can market to your existing customer base and you have two things that you can do from there one is you can actually sell the thing itself which normally you'll get about 20 25 take rate

of your entire customer base if you sell between 100 and 200 right and so if you have 150 people 25 would be whatever that is i don't know uh like 35ish 40ish whatever somewhere in there right and so you have 35 people who sign up at let's say 150. okay well made five grand but then you have some more fulfillment so maybe the painful thing that the three people might be a better player for that so we'll see which one if you did the other one recently then that that would probably be the play dead

now if you wanted to make even more money right then you should make the thing free that you're giving away and then upsell them into food and supplements right up sell them additional services once they start because you'll get an 85 take rate and you'll close 80 90 on the upsell right so it's more work but it again in a short period of time you can sell people other stuff that's ancillary services and that's all free money there's no there's no fulfillment that really has to happen there right so like you buy something or in

our case you don't buy something you just go into prestige labs and you click send and then they you never have to touch inventory but point is is like you're taking something for five dollars you're selling it for 20 and then you just take the in-between and that's it the shoppings you keep the money great right so that's another easy way of making 10 15 20 000 in a month the third thing and this is the one that i'm gonna drill home for everyone is that you have the same amount of effort that is going

to go into dealing with any kind of internal play so beyond the first thing which is like quick text blasts limited spaces make 10 grand tomorrow right that's like cool make 10 grand tomorrow but if you want to make like if you want to start having established recurring revenue right add an additional level of service right simply giving people one-on-one nutrition one-on-one accountability that's it a lot of people struggle with getting the gym a lot of people would love someone to text them every morning ask them what their weight is how they're doing make sure

they show up at the gym what this also does is your churn goes through the floor as in like your retention goes up people stop turning up because they have a regular communication kit now if i had 150 customers what would i do i would being the enterprising mofo that i am give everyone at my gym 28 days free or 21 days or 14 days free depending on how much work ethic i have right now for me if i gave everyone in my gym all 150 people an amazing 101 experience that they've never had before

and after this 28 days you can keep doing this for 49 bucks extra a week right and that's half of what i'm gonna sell new people into it so they're getting a great deal right what percentage of people do you think would say you have one-on-one contact with them for a whole month what do you think half being a third would stay probably higher than a third i think half would stay i think it's higher than a half but let's just say half right half stay now you're not going to get 100 take rate because

you never get 100 take rate on these types of things but you get 85 let's say you get 120 people to take the offer or you could have to stay so you got 60. and you got 60 at 200 a month extra that are paying for one-on-one nutrition accountability what's the cost of fulfillment there very low right 20 goes to a coach cool so you pay 2 400 out of your out of your 12 right so you're at 96 and now every single month from this month going forward you make your 10 grand a month

and that is profit that is in your pocket that you can do tomorrow right so if you're if you need more profit if you need more cash there's a million ways to do it and a lot of times like and this is me somebody who's a long-term player sometimes if you need it fast fixing your culture is not going to do it you need cash today and so once you can have that and you can plug the hole or you can plug a threat or whatever it is right then you can start fixing the processes

that got you into this pickle to begin with but sometimes you need cash tomorrow and so those are the three easiest ways that you can get cash tomorrow the last one one-on-one nutrition accountability by different um because of marketing so don't get scared away nutrition accountability is kind of part of the game when you're a gym owner um that being said it's free money and so if i'm talking to a gym owner i'm going to check off the boxes of which of these things they have done and most times when i look at all the

opportunities they have floor in front of them asking them to take it and so right now if you're looking at your business there's probably a million things that you could do and arguably should do but which one thing given the same amount of time is going to make you the most money forget about everything else and just do that and most times you're gonna make the right call and what a good coach is supposed to do is figure out of all the plays that they know in their arsenal right all the cards that they have

to play which one is best suited to you right now that can have high impact and and require low resources right those are the best high impact high resources like yes it's going to take a lot but it's going to it's going to cost a lot right whereas here you actually get the benefit of having the profit without the risk right i'm not saying front ad spend i'm not saying you know like there's literally nothing that needs to get added to your business besides one person with 60 clients one person can handle that and that

can be you if you want to you can keep the extra 2400 a month it's your call but all that to say if you're looking at your business it is your job to be able to weigh which of the things that are in front of you because there's a million plays that are out there and that's where people get overwhelmed they're like i don't know should i run a 28-day transformation should i run an internal play should i run a a paid in full should i run a year of change should i run a like

should i run a hybrid one-on-one accountability nutrition right what should i do look at which one makes you the most money it takes the least amount of resources depends how quickly you need money the money tomorrow you got to do paid in full it's gonna be a text blast you make the money if you can if you can wait two weeks to make the money you're gonna do an internal play if you can wait a month to make the money then you should probably do hybrid give everyone the free play and now you just added

120 grand a month to your facility top line right and then bottom line you add actually sorry you would add more than that top line you had 144 000 top line 120 bottom line all right one play is it worth it arguably what most people do not that and that's why they struggle so don't be one of them cash flows oxygen make sure you prioritize the opportunities that are bigger and once you do that once you execute those things then yes you'll have cash flow to breathe and then you can invest in things that will

actually solve your problem then you can pay someone to start helping retain your customers so that you don't have the term problem and you can wait 12 weeks and now you have cash flow from the recurring revenue stream that you took a month to build all right so i hope that makes sense drop a like drop a comment tag someone if you feel like it three ways to make cash in the next month lots of love keeping amazing have a wacky wonderful wednesday all right be cool bye [Music]