100m dollar offers

Opinion

Surprisingly good book with concrete advice. The biggest lesson is to think “Blue Ocean” and create an offer that is incomparable. Another point I appreciated is that you can have nine bets that turn out bad and need just a single good one to succeed.

Book in 3 sentences

• A good offer is when the perceived value is worth more than the price.
• Four value drivers make a good offer: the outcome, likelihood of achieving it, effort/sacrifice to be made, and the time it takes to achieve it.
• Identify the dream outcome, list blockers, and provide solutions by using “How to” statements.

Notes

• Alex Hormozi - https://www.acquisition.com
• Make people an offer they would feel stupid to say no to. (Travis Jones)
• The 3 requirements of growth
• • getting more customers,
• • customers, getting them to pay more,
• • getting them to do so more times.
• Sell your product based on value, not on price
• • Commoditized = Price Driven Purchases (race to the bottom)
• • Differentiated = Value Driven Purchases (sell in a category of one with no comparison.
• Keep trying. If you try one hundred offers, I promise you will succeed. Most people never try anything. Others fail once, then give up. It takes resilience to succeed. Stop personalizing! It’s not about you! If your offer doesn’t work, it doesn’t mean you suck. It means your offer sucks. Big difference. You only suck if you stop trying. So, try again. You’ll never become world class if you stop after a failed attempt.
• Customers believe what they are getting (VALUE) is worth more than what they are giving in exchange for it (PRICE).
• • “Price is what you pay. Value is what you get.” - Warren Buffet
• • if you provide enough value, it should still always be a steal for the prospect. The value Equation
• Higher price is higher value. the goal is to be so much higher that a consumer thinks to themselves, “This is so much more expensive, there must be something entirely different going on here.”
• • You must be so confident in your delivery, because you have done it so many times, that you know that this person will succeed.
• What is an offer?
• • No offer? No business. No life.
• • Bad offer? Negative profit. No business. Miserable life.
• • Decent offer? No profit. Stagnating business. Stagnating life.
• • Good offer? Some profit. Okay business. Okay life.
• • Grand Slam Offer? Fantastic profit. Insane business. Freedom.
• The Grand Slam Offer only becomes valuable once the prospect perceives the increase in likelihood of achievement, perceives the decrease in time delay, and perceives the decrease in effort and sacrifice.
• How to grow?
• • Get more customers.
• • Increase their average purchase value.
• • Get them to buy more times.
• Market matters; sell in a category with no comparison.
• A grand slam offer: It’s an offer you present to the marketplace that cannot be compared to any other product or service available, combining an attractive promotion, an unmatched value proposition, a premium price, and an unbeatable guarantee with a payment model that allows you to get paid to acquire new customers… forever removing the cash constraint on business growth.