Summary of the book: $100million offers by Alex Hormozi
A.K.A How to make offers so good your customers would feel stupid saying no.
//THREAD//
A.K.A How to make offers so good your customers would feel stupid saying no.
//THREAD//
1.) Finding a hungry market
The key is to find a niche that has:
1. A deep pain point
2. Buying power
3. Is easy to find
4. Is an evergreen market or is growing ot become one.
Alex mentions the three core examples this are Health, Wealth and Relationships
The key is to find a niche that has:
1. A deep pain point
2. Buying power
3. Is easy to find
4. Is an evergreen market or is growing ot become one.
Alex mentions the three core examples this are Health, Wealth and Relationships
2.) Creating a grand slam offer
The key points to create a grand slam offer mentioned:
- Can't be compared to other offers on the market
- Unmatchable Value proposition
- Premium Price
- Unbeatable Guarantee
Alex gives you an equation to work the perceived value out:
The key points to create a grand slam offer mentioned:
- Can't be compared to other offers on the market
- Unmatchable Value proposition
- Premium Price
- Unbeatable Guarantee
Alex gives you an equation to work the perceived value out:
3. The value equation
The value equation determines how valuable your offer is:
Value = dream outcome x likelihood of achievement/time delay x effort & sacrifice.
Let's dive into this with an example:
The value equation determines how valuable your offer is:
Value = dream outcome x likelihood of achievement/time delay x effort & sacrifice.
Let's dive into this with an example:
3a.)
Everyone wants to lose weight and get their dream body a.k.a dream outcome.
> You could sell a fitness E-book.
What makes it less valuable is that the likelihood of achievement isn't as high, as other methods like Surgery/Personal trainer.
Everyone wants to lose weight and get their dream body a.k.a dream outcome.
> You could sell a fitness E-book.
What makes it less valuable is that the likelihood of achievement isn't as high, as other methods like Surgery/Personal trainer.
3b.)
The reason so many people run after pills is because there is so little effort involved, and often they promise crazy time frames like "lose x pounds in 4 weeks"
Meaning:
The reason so many people run after pills is because there is so little effort involved, and often they promise crazy time frames like "lose x pounds in 4 weeks"
Meaning:
1. The dream outcome and likelihood of it should be as high as possible.
2. The delay, sacrifice and effort should be low.
If you get these right, you can charge a Premium for your products or services.
2. The delay, sacrifice and effort should be low.
If you get these right, you can charge a Premium for your products or services.
4.) Psychological vs Logical Solutions
There are more ways to solve your customers' pain points or cons when using your product than logical solutions.
As long as your brain is satisfied and engaged, you don't really care, but the value increases.
There are more ways to solve your customers' pain points or cons when using your product than logical solutions.
As long as your brain is satisfied and engaged, you don't really care, but the value increases.
4b.)
Imagine this: The customer is annoyed they always have to wait in the lift.
Logical solution: More or faster lifts.
A Psychological solution would be adding mirrors into the lift, so the brain is engaged.
Lower cost, fixes the same issue and increases the value.
Imagine this: The customer is annoyed they always have to wait in the lift.
Logical solution: More or faster lifts.
A Psychological solution would be adding mirrors into the lift, so the brain is engaged.
Lower cost, fixes the same issue and increases the value.
5. Crafting your offer
1. Note down the core result your product provides
2. List down the problems that someone goes through when getting that result (EX: For a SaaS sales funnel builder this could be, having to build/plan the funnel)
1. Note down the core result your product provides
2. List down the problems that someone goes through when getting that result (EX: For a SaaS sales funnel builder this could be, having to build/plan the funnel)
5b.)
3. List down solutions (ex: For a SaaS Sales funnel builder, this could be DFY funnels to import)
3. List down solutions (ex: For a SaaS Sales funnel builder, this could be DFY funnels to import)
6. ENJOY!
That's it for this thread. If you enjoyed it make sure to follow me here for more: @cmwalker
And I'd really appreciate a RT on the top tweetπ
That's it for this thread. If you enjoyed it make sure to follow me here for more: @cmwalker
And I'd really appreciate a RT on the top tweetπ
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