Alex Hormozi: 3 Steps To Starting (Or Fixing) Any Business

Last updated: Jun 14, 2023

The video is about the mistake of trying to solve non-existent problems in a business before making any sales, and instead advises to focus on creating flow and making sales first before worrying about optimizing for profit.

This video by Alex Hormozi was published on Mar 11, 2021.
Video length: 07:07.

In this video, Alex Hormozi shares his advice on starting or fixing a business in three steps.

He emphasizes the importance of making sales before worrying about fulfillment issues and optimizing for profit. He encourages entrepreneurs to focus on creating flow and monetizing it before adding friction, and to sell the most insane offer possible to get someone to say yes first.

Hormozi also discusses the role of self-limiting beliefs in business success and the importance of envisioning oneself making money.

  • Focus on creating flow and making sales before worrying about fulfillment or profit.
  • Don't try to solve non-existent problems in your business.
  • Money is made in your mind first, so envision yourself making money doing it.
  • Sell everything and overcome overwhelm by learning how to sell and stacking as much value as possible.
  • Peel back pieces over time to make a profitable and attractive offer.

3 Steps To Starting (Or Fixing) Any Business - YouTube

Alex Hormozi: 3 Steps To Starting (Or Fixing) Any Business 001

Introduction

  • Alex Hormozi shares a conversation he had with a friend who just started his own business.
  • The friend was worried about being overwhelmed with fulfillment before making any sales.
  • Alex advises to focus on creating flow and making sales first before worrying about optimizing for profit.
Alex Hormozi: 3 Steps To Starting (Or Fixing) Any Business 002

Don't Solve Non-Existent Problems

  • People often try to solve issues that don't even exist in their business.
  • Before worrying about fulfillment, focus on making sales first.
  • Create flow, monetize flow, then add friction in that order.
  • Make an offer that's so crazy that someone would be stupid to say no.
  • Stop thinking about scale before making a single sale.
Alex Hormozi: 3 Steps To Starting (Or Fixing) Any Business 004

Money is Made in Your Mind First

  • Poor people have poor beliefs, while rich people expect rich outcomes.
  • Envision yourself making money doing it before it happens in reality.
  • Stop obsessing over what to include in the offer stack.
  • Give away the farm, make some sales, and then worry about optimizing for profit.
  • Sell first, over-deliver, and then optimize for profit.
Alex Hormozi: 3 Steps To Starting (Or Fixing) Any Business 005

3 Steps To Starting (Or Fixing) Any Business - YouTube

Sell Everything and Overcome Overwhelm

  • Sell the most insane offer you can think of to get someone to say yes first.
  • Being overwhelmed is normal, especially when starting out.
  • Learn how to sell and what is valuable in the sale.
  • Peel back pieces over time to make a profitable and attractive offer.
  • Stack as much value as possible to get them to say yes.
Alex Hormozi: 3 Steps To Starting (Or Fixing) Any Business 007

The Secret to Sales

  • Make people an offer so good they would feel stupid saying no.
  • Focus on creating flow and making sales first before worrying about optimizing for profit.
  • Realize that you can still make money even if you're not good at sales.
  • Keep adding value until eventually they say yes.
  • Instead of cutting prices, keep your price and just add more value than anyone else could even imagine.
  • Scale the unscalable in the beginning because you just need people to say yes and start the flow.

Watch the video on YouTube:
3 Steps To Starting (Or Fixing) Any Business - YouTube

Related summaries of videos: