14 min listen
The 5 Stages of Niche Hopping... | Ep 221
The 5 Stages of Niche Hopping... | Ep 221
ratings:
Length:
16 minutes
Released:
Jul 17, 2020
Format:
Podcast episode
Description
You have to pick one which you can win at. You can’t win with all. Today, Alex (@AlexHormozi) talks about one of the common mistakes new entrepreneurs make: niche hopping, discusses the 5 stages that the entrepreneur will go through, and why picking just one is way better than spreading yourself too thin. Note: there is no shortcut, you have to put in the work.
Welcome to The Gym Secrets Podcast where you can listen in on the Top 1% of Gym Owners to hear the secrets of what they are doing differently to get more customers, make more profit per customer, keep them longer, and do it all without sacrificing their personal lives. We've got roll up your sleeves kind of hustle with a little bit of cleverness and a lot of heart. We are 1% of gym owners and this is our podcast. Hosted by Alex Hormozi.
Timestamps:
1:31 - Alex shares a story of a time when he owned multiple businesses thinking it would make more money. Spoiler: it didn’t
3:23 - The 5 stages of Niche Hopping that every new entrepreneur will go through: Uninformed Optimism / Informed Pessimism, Valley of Despair, Going Through The Sh*t, Informed Optimism, and Achievement. Alex dives into each stage
7:06 - You will never get to the eight-figure goal unless you confront the problems going on in your head instead of running away from them (which results in niche hopping)
9:24 - And the only way to win is to be better. And the way to be better is to stick through the sh*t (the third step) where everyone bails
11:19 - The reason Gym Launch became successful is that every single step of the process they made it a point to keep on testing and making sure they can improve on their systems
14:13 - I'm not gonna do six niches. I'm gonna pick one and I'm gonna get really good at it, And that's what I'm gonna do. And when it gets hard, I'm gonna stick with it
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 )
Welcome to The Gym Secrets Podcast where you can listen in on the Top 1% of Gym Owners to hear the secrets of what they are doing differently to get more customers, make more profit per customer, keep them longer, and do it all without sacrificing their personal lives. We've got roll up your sleeves kind of hustle with a little bit of cleverness and a lot of heart. We are 1% of gym owners and this is our podcast. Hosted by Alex Hormozi.
Timestamps:
1:31 - Alex shares a story of a time when he owned multiple businesses thinking it would make more money. Spoiler: it didn’t
3:23 - The 5 stages of Niche Hopping that every new entrepreneur will go through: Uninformed Optimism / Informed Pessimism, Valley of Despair, Going Through The Sh*t, Informed Optimism, and Achievement. Alex dives into each stage
7:06 - You will never get to the eight-figure goal unless you confront the problems going on in your head instead of running away from them (which results in niche hopping)
9:24 - And the only way to win is to be better. And the way to be better is to stick through the sh*t (the third step) where everyone bails
11:19 - The reason Gym Launch became successful is that every single step of the process they made it a point to keep on testing and making sure they can improve on their systems
14:13 - I'm not gonna do six niches. I'm gonna pick one and I'm gonna get really good at it, And that's what I'm gonna do. And when it gets hard, I'm gonna stick with it
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 )
Released:
Jul 17, 2020
Format:
Podcast episode
Titles in the series (100)
Gym Money Math | Ep 1 by The Game w/ Alex Hormozi