100 M offers by Alex Hormozi is an entrepreneur and sales book which teaches you how to craft offers that will separate you in the market and excite your customers.
Alex Hormozi is a successful entrepreneur who runs a fitness coaching business and also is a seed investor for multimillion-dollar companies. Alex shares his story in the book and offers advice on starting a business.
This is a book you should read if you are a growing entrepreneur.
Some of the best lessons from the book include how to package your offers and how to be more attractive to your customers. He also talks about how customers think when making high-ticket buying decisions.
100M Offers Alex Hormozi includes knowledge about how to become a better and higher paid salesman or woman.
1. Be confident and know what your target customer is going through
Confidence is everything. You have to believe in yourself and what you’re doing. Use your expertise to create something that can solve their problems.
If you don’t believe in yourself, no one else will either. When you develop your solution, be confident based on your results. These businesses make excellent money for those willing to put in the time required to run them.
Know your customer better than they know themselves. Think about the program you want to resolve and then think about how many related problems your customer is having. List all solutions exercise really helped me to develop a more wholesome offer.
2. Name your Offer and Be Specific
Your offers need to stand out from the rest of the world so there are a few ways to do that. One method is to package your offer in a particular way that has never been seen before.
Another method is to name your offers in a way that hasn’t been done before or at least make the name more catchy for the solution you are offering.
When you do this, you’ll find that they’ll want to be your friend. When you make your offer more specific and specialized, it also becomes easier to directly market to these people. The easier you can obtain a customer, the more likely you are to remain in business.
Market research on Twitter and Reddit can help you see what others in the market are naming their offers.
3. Be a student
Remain curious throughout your life. Continue to learn and more importantly continue to experiment to see what works for you. Experimentation is important in marketing and sales. Learn what Alex is talking about and experiment but do not take his word verbatim.
Take notes on what you learn.
Test and refine, get new feedback. This book is practical. He gives you sales and mindset psychology that he learned from doing, not teaching.
4. Provide the most value, get paid the most
Be prepared and ready to adapt to change. Nurturing relationships can help in this case.
How badly does your customer want to reach their desired state?
Always be ready to answer questions and therefore build a FAQ around the service you are delivering. Always be prepared to give information. Always be prepared to help someone and to make your offer.
Alex has a pretty simple website and is active on Twitter. He talks about how to charge buckets of money.
And people don’t take it seriously unless they pay for it. It becomes more important to them. Competition and being compared is a death wish of business. You must create something that your customers cannot compare to what is already existing in the market.
5. Be persistent this is so very important!
If you ask someone for something, keep asking until you get it. Persistence pays off in every endeavor that is worth striving for.
Show up every day and provide value to your target customers. If you outwork your competition then you will always win.
6. Be honest, trustworthy, and have integrity
People appreciate honesty. Honesty builds trust. Trust is important in business relationships.
Be trustworthy. Treat others how you’d like to be treated. Do unto others as you would have them do unto you.
Where people are happy to pay higher prices for the value your system delivers.
The secret to sales: Make people an offer so good they would feel stupid saying no.”
In marketing, you’re either pushing a low ticket offer or a high ticket offer. A low ticket offer is something that most people can easily understand and buy. An example of a low ticket offer is a free ebook while a high ticket offer is something more complex that requires some understanding from the buyer included with a bigger investment of capital.
A high ticket offer could be a paid membership to an exclusive club like a mastermind. To be successful with marketing, businesses must understand how to differentiate between low and high ticket offers.
7. Discover a hungry market
The first important step is to find a niche that has these elements:
1. A deep pain point
2. Buying power
3. Is easy to find
4. Is an evergreen market or is growing to become one? Alex mentions the three core examples these are Health, Wealth, and Relationships
8. High ticket offers
High ticket offers are more expensive than other offers; therefore, they must be marketed differently from low ticket offers. Most buyers appreciate being told how much their purchase will cost them in advance.
High ticket offers are differentiated from low ticket offers by the level of commitment from the buyer; Alex Hormozi says that buyers tend to feel more comfortable making big decisions when they know that the decision will have lasting positive effects on their finances and lifestyle.
People are more likely to make bigger purchases that help them achieve their goals— this helps justify higher price points on higher-quality offerings. This is where you come in.
Take a look at some of the existing high ticket offers in your market.
What are they selling?
What does it come with?
Are there any guarantees?
What does the social proof look like?
How good is the copy?
High ticket offers must be marketed differently from low ticket offers for them to be effective marketing strategies as buyers can dismiss an offer outright if they do not understand it or aren’t willing to commit the necessary resources towards attaining its goals and benefits. 100m offers
$100million offers by Alex Hormozi A.K.A How to make offers so good your customers would feel stupid saying no.
9. 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:
Why grand slam offers?
How much time does it take to create a grand slam offer?
What do I do after I create a grand slam offer? Will I just get rich?
10. What is 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 us discuss this with an example:
- Everyone has the desire 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.
- The reason so many people run after pills is that there is so little effort involved, and often they promise crazy time frames like “lose x pounds in 4 weeks” which means:
The dream outcome and likelihood of it should be as high as possible.
The delay, sacrifice, and effort should be low. If you get these right, you can charge a Premium for your products or services. Value equation hormozi is about achieving the dream outcome for your clients while providing the least amount of friction possible.
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.
Imagine this: The customer is annoyed they always have to wait a long time for their food.
Logical solution: More employees or faster tools.
A psychological solution would be adding something for to do on their app while they wait, so the brain is engaged. Lower costs fix the same issue and increase the value.
11. Creating your offer
1. Notate 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)
3. List down solutions (ex: For a SaaS Sales funnel builder, this could be DFY funnels to import)
Learn how to outsource and grow your business, no matter which stage you’re at. You can refer to the Irresistible Offer post for more ideas here.
12. Value stacking
When creating an expensively priced high-ticket offer, make sure you have buyers clearly understand why they should buy your product or service first!
There are several factors involved when determining whether it makes sense for businesses to market higher price points versus lower price points. Higher means you run the market contrary to what Walmart does because of their economies of scale.
High price points often require different tactics compared with lower price points as buyers can easily dismiss higher price points without understanding them first!
13. Improving Your Offer
Enhancing the Offer Through Scarcity, Urgency, Bonuses, Guarantees, and Naming
- “People want what they can’t have. People want what other people want. People want things only a select few have access to.”
- Desire comes from not getting what you want
- Fear of loss is stronger than the desire for gain for human beings.
- Scarcity is related to quantity. Urgency is a function of time.
- A Single offer is overall less valuable than the same offer broken into its component parts and stacked as bonuses.
- The value of the bonuses should eclipse the value of the core offer.
- Get happier by using our app, for just 5 minutes every day.
- Faster, easier or less effort/sacrifice.
- A bonus should address specific concerns customers might have.
- Unconditional -> No questions asked.
- Conditional -> If you don’t achieve X by Y, then…
- M: Make a magnetic reason
- Black Friday, Summer Sale
- A: Announce the avatar
- G: Give them a goal
- I indicate a time interval
- C: complete with a container word
- Challenge, Blueprint, Bootcamp, Cheat code, Experience, Solution.
All about the results others have achieved through your system. A lot of teaching through infographics. Creating lists and brainstorming. To create a variable offer that is differentiated and unable to be compared to anything else n the market. Alex hormozi books
Selling from home is a very lucrative business. People sell from their homes daily by selling products and services. Most of these businesses are online. This makes it very easy for people to run these businesses. Many people choose to do so because it’s a lot easier than running a traditional business. Taking care of your home doesn’t have to be a chore if you have a sales business at home.
The difficulty of selling and growing your enterprise is high. This makes it difficult for most people unless they’re extremely dedicated or have family members who can help them out.
People who are willing to sacrifice their time can make some good money running a sales business from home. When demand increases, cut supply.
People want what they can’t have. People want what other people want. People want things only a select few have access to. His website hasn’t changed. I like how simple it is and how he segments his viewers immediately.
All marketing exists to influence the supply and demand curve. We aritificially increase the demand for our products and services through some type of persuasive communication.
100m Offers Alex Hormozi Best Points
The cost of running a home business is low if you have the proper equipment and software available to you. You can set up shop anywhere and start selling without any difficulties or costs associated with doing so— as long as you have the necessary equipment or software available to you.
Discipline to design and pitch your offer. You must be dedicated enough and willing to put in the work required.
When we increase demand, we can sell more units. When we decrease supply, we have the option to sell those units for more money. The ideal profit combo is lots of demand, and very little supply, or perceived supply.
If you are dedicated enough and willing to put in the work required then you can become very effective at sales. Selling products and services online is an excellent way to make some good money no matter where you are in the world— at least if you’re dedicated enough and willing to put in the work required.
Selling products and services online is an excellent way of making money as long as we’re willing enough and committed enough.
“Desire comes from not getting what we want.”– Alex Hormozi
Desire is a contract you make with yourself to be unhappy until you get what you want”
We only want things we do not have. As soon as we have them, our desire for them evaporates. If we seek to increase the demand (or desire_, we must decrease or delay satisfying the desires of our respects. we must sell fewer units than we otherwise can. this is a breakthrough idea.
Selling products can be difficult. As a small business owner, you may need some guidance. Making and selling a product, but few understand how to do it so Alex wrote this book to solve that. However, you must read it and apply it..
An opportunity to learn from Alex’s mistakes and he has likely a longer time in the game than you and also can reveal the lessons he spent more time and more money to learn. Certainly worth the read.
One common mistake business owners make is focusing too much on creating a good product instead of learning how to promote their work. Many products are very good when they first start, but customers quickly learn that the creator was unable to promote their work enough to sell it.
Focusing on promoting your work early on can help avoid this problem and produce a successful product.
This can be effective if the creator has deep understanding of the subject and is willing to put in many hours perfecting their work.
However, if the creator doesn’t have faith in his work or isn’t willing to put in the time, this approach will lead to delay and difficulty producing a good product. It is far easier for any business to produce a better version of what they already have by hiring an outside service than it is by trying to improve what they currently have on their own
Creators who want better quality without paying more for a service will find success with this approach. Many can get similar quality results as those who pay for services by recording meetings, sending emails or using other low-quality methods
However, there is great value in using less expensive methods since customers have little reason not to use them when they know better results will follow. Instead of spending more money or getting less quality than expected; customers who use this method end up with better sales without spending any extra time or money
I finally understood how premium prices were truly made, its really a function of simple supply and demand. There is little that substitutes for incredible demand. You can try and fake it, but there is a special type of “no f*cks given” vibe that’s hard to replicate when you truly do not need a person’s money.
That’s how these guys can charge so much . . . because they don’t need it. The person who needs the exchange less always has the upper hand. I always try to remember that. It’s one of the negotiating and pricing principles that has best served me in my life.
Trial and error is the only way to experience lasting success in business. Those who learn from past mistakes managed by those who learned from previous ones are able to bring products into the market that are both high-quality and high-sales. By planning ahead, putting in effort and learning how promotion affects quality.
Selling products and services through funnels and websites. This process isn’t easy, and it shouldn’t be. Your product must deliver. So many wish to shortcut the real work. Do that and you will fail.
To understand how to make a compelling offer, you must understand value. The reason people buy anything is to get a deal. They believe what they are getting (VALUE) is worth more than what they are giving in exchange for it (PRICE).
The moment the value they receive dips below what they are paying, they stop buying from you. This price to value discrepancy is what you need to avoid at all costs.
As Warren Buffet said, “
“Price is what you pay. Value is what you get.”– Alex Hormozi
If solving this problem speeds up my achievement of a goal by a year or two, or immediately results in me making hundreds of thousands of dollars, or millions of dollars, that solution becomes far more valuable, does it not?
Yes, most definitely it does.
If I can pay someone $50,000 for a day of their time, and see an increase of $500,000 per month in revenue within three months because of the insights and strategies revealed, that would be a helluva return on investment, right?
So there are two components to the value:
First, how rare the sources are
Second, the actual value being provided. The value and rarity compound can create some truly breathtaking profits.
Specialized consultants are paid millions of dollars to solve problems worth tens of millions to clients. The client pays for all the experience and expertise the expert has and avoids the cost of error. Now that is a win-win. 100 M offers will teach you thr path.
Let me know what you think with a comment. And check out some of these other blog posts related: