3 Ways to Make $10K Cash With No Ad Spend (In 30 Days Or Less) [ALEX HORMOZI]
Summary
- If you're coaching your own business, you need to be a better coach to yourself than anyone else could be, being decisive and aware of your business's needs.
- Listening to clients, I prioritize uncovering cash flow opportunities and identifying massive threats before addressing strengths and weaknesses.
- Address immediate cash flow issues before long-term fixes like culture or retention programs, because without cash, your business can't survive.
- Utilize opportunities already present in your business, such as adding a nutrition accountability program, which can quickly generate significant revenue with no ad spend.
- Prioritize tasks that yield high returns with minimal risk or resource investment.
- Selling to your existing customer base is the fastest way to generate cash; examples include limited space offers, internal promotions, and upselling additional services.
- Implementing a one-on-one nutrition accountability service can significantly boost retention and provide a steady stream of recurring revenue with minimal fulfillment costs.
- Focus on the most lucrative opportunities that require the least resources, especially when cash flow is urgent, to ensure the vitality of your business.
- Once you stabilize cash flow, invest in long-term solutions to prevent issues from recurring, such as customer retention strategies.
Video
How To Take Action
I would suggest first looking at your business and seeing where you can quickly improve your cash flow. This is like finding money on the ground you didn't know you had. For example, if you run a gym, add a nutrition accountability program. This can make money fast without spending any on ads.
Make a list of what your business already does well and what needs work. But first, focus on cash flow issues. Don't worry about long-term fixes like culture change or retention programs just yet. Once you have more cash, then you can think about those.
Here's a tip: sell more to the customers you already have. This is the fastest way to get more cash. Try something like a "limited space offer." You could also create a special program only for your current customers and upsell additional services.
If you really need cash fast, use a quick text message blast to offer something special. Say you’re looking for a few people to join you on a transformation journey for a price. This can bring in money quickly.
Once you've got more cash flow, then you can invest in improving your business for the long term. Maybe you start a retention program to keep customers happy and paying longer.
Remember to go after the easiest chances to make more money with what you have now. Then, with the extra cash, you can fix bigger problems. This way, you get the money you need right away and set your business up to do even better in the future.
Quotes
"Cash is oxygen so you can buy yourself time to have more perspective to make better judgments about the business"
– Alex Hormozi
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"Picking out which of the opportunities to focus on is usually the focus of a good coach"
– Alex Hormozi
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"All three are selling to your existing customer base"
– Alex Hormozi
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"There are three things that will make you money fast"
– Alex Hormozi
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"Forget about everything else and just do that and most times you're gonna make the right call"
– Alex Hormozi
