MY $250k MISTAKE (and how to avoid it) 💵🔥💵🔥(ALL GYMS WHO WORK WITH US PLZZ LISTEN) ...and the ONLY strategic advantage a microgym has in the marketplace to command premium prices... | Ep 55
The Game w/ Alex Hormozi
English - May 17, 2018 15:00 - 10 minutes - 19.2 MB - ★★★★★ - 196 ratingsBusiness Health & Fitness alexhormozi business entrepreneurship gymlaunchsecrets leadership management marketing sales teambuilding thegame Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
"Like every time you don't take money outta your business, you're doubling down." Today, Alex (@AlexHormozi) discusses the mistake of expanding a business too soon and spending money on unnecessary equipment instead of focusing on customer service. He advises gym owners to prioritize stacking cash and increasing profit margins before considering opening a second location.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:55) - Advantage: high-quality customer service and experience.
(4:14) - Learn from mistakes, avoid financial pitfalls.
(5:11) - Keep making money, stack cash.
(6:44) - Take home profits before second location.
(8:14) - Focus on net worth, not multiple locations.
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