3 Hours of Money Making Advice You Needed To Know Yesterday

Summary

• I spent valuable time with top business owners discussing strategies for making money.
• One key takeaway is using free online groups to generate leads and convert them into customers.
• Posting engaging content regularly on platforms like YouTube and Instagram can boost organic traffic.
• Include links in bios/descriptions and use auto-messages for new group members to guide them through your offerings.
• Offering something for free piques curiosity and naturally draws people to your community.
• A great webinar or course can educate potential clients and prompt them to take action.
• Maintaining value in your community is crucial; high engagement can drive sales conversion rates impressively.
• Communicate using short, curious posts to keep engagement high.
• A practical example: increasing a business owner’s revenue from $500 to $10,900 in one month using community strategies.
• For services moving from free to paid, an onboarding call personalized to new users boosts conversion rates.
• Even low-ticket offers can be sold effectively through efficient communication channels like DMs.
• Focus on solving problems for your customer base to facilitate long-term success.
• Simplify your offerings; avoid unnecessary complexity to improve customer retention.
• Engage your community with fun topics and active participation.
• Build relationships within your community; nurture a culture where members help each other.
• Pricing strategies must balance conversion rates and churn impact.
• Tailor your pricing based on client retention metrics, adapting based on feedback and performance.
• Regularly analyze your pricing model to ensure profitability.
• If overwhelmed, prioritize hiring individuals to take over less impactful tasks.
• Focus on high ROI activities like creating content.
• Delegate administrative and operational duties to free your time for critical business functions.
• Maintain a balance between managing engagement and promotional activities to avoid burnout.
• Introduce onboarding processes for new members to facilitate smoother transitions and higher engagement.
• Tailor your community content to be informative and engaging without overwhelming your members.
• Hiring and retaining top talent is critical; create a compelling vision to attract skilled individuals.
• Trenches time spent on daily operations should be minimized by hiring generalists to cover minor tasks.
• Use insights gained from customer interactions to guide your community management strategies.
• Value feedback from key members and improve based on their insights to drive community growth.
• Understand that scaling requires refining processes, constantly analyzing, and improving performance metrics.
• Refunding and adjusting client expectations should be handled ethically to maintain trust and reputation.
• Always prioritize solving your clients’ problems efficiently and effectively.
• Use workshops and offline engagements to generate additional income and content for your community and marketing.

This summary captures the key actionable advice and personal lessons from the transcript, formulated as Alex Hormozi’s advice to readers at a 5th-grade reading level.

Video

How To Take Action

Implementing Strategies for Small Businesses, Entrepreneurs, and Personal Growth Seekers

I would suggest implementing a few high-value, low-cost strategies right away that can have a big impact on your business or personal development.

Leverage Free Online Groups and Social Media:

• Start a free online community on platforms like Facebook or School. Drive traffic to it by promoting it in your content descriptions and bios on Instagram, YouTube, and other social media.
• When members join, automate an introductory message that guides them through your core offerings.
• Regularly post engaging content to keep your community active. For instance, share tips, ask questions, and post fun, relatable content like memes to spark discussions.

Group Onboarding:

• Host a weekly group onboarding call for new members. This can be done through a Zoom call where you walk through the value of the community and how to get the most out of it. During this call, address their goals and challenges.
• Use this call to upsell additional services naturally by highlighting how your premium offerings can help them achieve their objectives.

Content Creation and Engagement:

• Spend dedicated chunks of time creating high-quality content, such as YouTube videos or blog posts. This should be your primary focus as content drives traffic and builds authority.
• Use the mornings for deep work (content creation) and have all meetings or calls scheduled for the afternoons. This way, your creative output isn't disrupted.

Social Proof and Testimonials:

• Record your onboarding and weekly calls, then clip the best parts to use as social proof in your marketing. Testimonial videos can significantly boost your credibility and conversion rates.

Simplify and Organize:

• Avoid overwhelming your audience. Simplify your offerings and create a coherent sequence for them to follow in your community.
• Create onboarding modules or a “start here” section with a few essential videos, keeping everything under an hour to ensure high consumption rates.

Nurture Your Community:

• Encourage members to introduce themselves and share fun personal details, like their favorite books or movies, to foster connections.
• Rotate pins and promote active members' posts to encourage more participation and create a vibrant community culture.

Utilize Onboarding Calls:

• Implement auto DMs for immediate onboarding calls to newly joined members.
• Focus these calls on understanding the new member’s goals and obstacles, and then guide them towards your premium offerings.

Hiring and Delegation:

• Free up your time by hiring for roles that handle lower-impact tasks, like administrative duties and customer support. This allows you to focus on high-ROI activities like content creation and community engagement.
• Initially, consider hiring enthusiastic fans from your community who are already engaged and can grow into larger roles.

Refine Your Pricing Strategy:

• Regularly evaluate your pricing model based on conversion rates and customer feedback. Optimize for maximizing engagement and minimizing churn.

Use Feedback to Improve:

• Constantly seek feedback from your key community members and adapt your strategies and content based on their insights to ensure you’re meeting their needs effectively.

Employing these strategies will drive engagement, streamline your efforts, and ideally result in increased loyalty and conversions in your community.

Quotes

"How many do you know how many searches a day we get on school"

– Alex Hormozi

"Kind of gave up but he was making like $500 a month and we got him to $10,900 this month"

– Alex Hormozi

"Five places to put one link free Instagram bio free Group Facebook profile a pieces of content"

– Alex Hormozi

"Because a free community if you've got content and then you're promising a free community conversion rates are through the roow it's the most efficient mechanism to convert"

– Alex Hormozi

"The difference between value post and valuable post is that; the quote value posts are like here are six things"

– Alex Hormozi