Profit is what begets growth. Today, Alex (@AlexHormozi) talks about what he does on $50,000 consulting days when he’s talking to high-level business owners and walks us through one of the biggest mistakes he has made that involves the front end. Remember: Once you have a product that is a very well-oiled machine on the back end, it takes a tremendous amount of effort to change your machine.
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:
1:56 - The goal is to not increase the complexity of the business but rather decrease it & focus on improving the front and backend of a business
6:38 - the factors to consider when dealing with front and backend & Alex shares with us the mistake he made with scaling
12:04 - The bigger the business is, typically the simpler it has to be because simple is the only thing that scales
16:04 - The objective is “How can I create the most leverage for the person I’m talking to?” and “How can we simplify and make the backend more profit?”
17:21- The greater the arbitrage (between the cost of acquisition vs. lifetime value), the more money and profit you'll ultimately make
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