The Only 2 Ways to Grow a Business
Summary
- If you've been working on your business but aren't making money, assess how you're spending your time.
- Ensure you're dedicating time to activities that directly contribute to growth: talking to people, creating content, or running ads.
- Recognize the importance of outreach; if you haven't reached out to anyone, you're missing a key step in business development.
- Understand that business growth comes down to two key metrics: increasing the number of customers and increasing the value of each customer.
- Reflect on your business efforts to see if you're reaching enough people to generate a significant customer base.
- Examine the value you're providing to customers to determine if you can make them worth more to your business.
- Focus on the fundamentals of business growth: selling to more people and enhancing customer value are the core ways to scale up.
Video
How To Take Action
To grow your business, you gotta focus on what counts. Start by asking yourself how you spend your workday. Are you really doing stuff that makes money? Here's what works: talking directly to people, whipping up good content, or putting cash into ads. That's how you get seen and heard.
Don't hang back; outreach is crucial. If you ain’t reaching out to anyone, you're leaving money on the table. No joke. It’s not just about working but working smart. Talk to people who might want to buy what you’re selling, or get your name out there somehow. Every day, make a goal to reach out to a handful of new folks.
Here's the deal: Business growth boils down to two big things. First, you gotta boost the number of customers flocking to you. Second, make each of those customers drop more dough on your stuff. Reflect on these two points, and you'll see where you need to pump up the volume.
Think real hard about if you're getting your name out wide enough. Are enough people even realizing you exist? If not, time to step up your game. Produce cooler content, run smarter ads, and, most importantly, chat up potential customers.
Next up, check the value you're serving up. Can you make it better or give them more for their money? Maybe offer packages, bundles, or premium options to get them spending more.
Remember, it's not complicated. Just two things to remember: sell to more folks, and make 'em value what you got even more. Stick to these basics, and watch your business start to climb.
Quotes
"There's only three things you can do: talk to people, you make content about, or you run ads. That's it."
– Alex Hormozi
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"Not enough people know who you are which is why you don't get enough customers."
– Alex Hormozi
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"Or the people who buy from you aren't worth much."
– Alex Hormozi
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"Because you can only grow a business by selling more people."
– Alex Hormozi
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"Or making them worth more, that is it."
– Alex Hormozi
