My Best Sales Tactic (to Make a TON of Money)
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- Опубліковано 10 вер 2024
- Want to SCALE your business? Go here: acquisition.com
Want to START a business? Go here: skool.com/games
If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $200,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit.
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.
34 yrs old: I became co-owner of Skool.com to help the many people who want to start a business online do so.
Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.
This is jaw dropping. Gurus are selling advice that could never compare to yours for $10k+, but you’re giving it away for free. I’m am without speech
Chapter 4 in Influence by Cialdini since 1984
Hey btw I just want to let you know we in India use the term "guru" with a highest respected personality in a person's life who teaches you all he got in return of nothing.
Never mind all I need to say is guru is more than god, parents and love to anyone in India. Just indian values😅
God bless you🙏
Why does this amaze you so much? 😂
Lol You tube paid him bro , Nothing is free.
@@TheUmaibi. He has someone write this under all of his comments, I think it's a bot
Hands down the best sales tip I’ve ever heard. The idea of ghost products and having a sales guy pretend they’re giving out information that benefits the customer more than the company is absolutely genius.
It's not pretend. It should actually benefit the customer, otherwise it's just un-ethical and greedy. Not a good long term strategy/tactic if its not used ethically. That is why Alex talked about intent. You must have the customers best interest at heart or else it is just manipulation.
Takeaway - Earn your customers trust to sell higher ticket items by showing that you have their best interests at heart by saving them money on lower ticket items. Aka Sacrificial lambs / Ghost products.
Another Hormozi gem! Thanks Alex
You've articulated this very well. I tell my team that this is what it looks like to be an advisor, not a seller. When you're a trusted advisor, people will take the medicine.
This exactly. I've been doing this for a very long time, and it's key to gaining status as someone that's a trusted advisor and the client identifies you as "on their side."
100%! This is my approach and has led to great connections and repeat business
I'm a door to door salesman in the UK. Honestly this is so useful I do this without even realising most of the time, being trustworthy is everything and there a ton of ways to do it, and it will make you a TON of money in commissions if you take it seriously.
I do this all of the time, never haven’t. I’m always honest. My clients are loyal
I've been in sales for years, and had great mentors, courses and all, and still learn a lot for Alex's videos.
The first part of the video made me think of Robert Cialdini's book (Influence or Pre-Suasion) about a waiter that had the highest tips consistently.
He would first give the advice to NOT order one or two things on the menu to gain the trust of his customers. Then when he recommended stuff, they would be a lot more likely to say yes and ended up with bigger bills.
I observed this tactic from our local wet market. Whenever the goods that I'd like to buy were out of stock the vendor would send me to their nearest competitor and I would trust them back. And whenever I come back the next week to buy goods again, I will always go to that vendor that best served me.
Jordan Belfort taught this tactic too. Salespeople should always think about serving their customers and if it is meant to send your prospects to your best competitors, do it.
The key is to watch his videos as soon as it drops and implement quickly before competition can act
Be impatient short term, patient long term. Know that your competition can't outpace if you always learn and implement. A lot of people can't take action this is why there is always opportunities
Incredible, this is one of your most practical instantly applicable lessons yet!
The reason i know he’s honest is. Whenever i accidentally closed sale in the beginning i realized this is what happened in a lot of the high closing ticket sales.
Alex being on the internet is a serious, unfair advantage to have as a generation. Thanks!
Ooo this is really crafty, and I do appreciate the differentiation between helping and hurting in manipulation 👍🏼
Omg this is so powerful! Ppl don’t tell this type of stuff in $10k masterminds
This can be applied to everything not just physical products 🔥🔥🔥
Already planned out one of the chapters for $100M Sales. Pumped to see that volume published in 2023 🔥🚀🚀🚀
I stumbled upon this by not receiving any commission for any product sold at Home Depot, thus, feeling a lack of incentive to sell a more expensive product when there’s a cost effective solution that accomplished a similar outcome for customers. “Thank you for being so honest”… & “the best customer service” countless times… I see them more frequently as a result. Will now apply to business.
This was excellent - Thanks Alex. Interesting that it's actually the same as having their best interests at heart (honesty & integrity) that build trust. Great tips.
Literally what Alex is doing with his core business now. Giving away loads of information for free so that you're more likely to use his company in the future
Loved the video Alex, it's been great seeing your fantastic rise over the last year and how your image, brand, has gained quality and consistency, the cross platform tik tok / UA-cam consistency is on point and the story you've embraced has been inspiring.
Honestly well done, really inspiring!
P.s. it wasn't lost on me how you gave away this ghost lamb, shared you're secret, played on our morality and brought us all around the table.
Looking forward to the book, I can't afford it right now but there's probably a torrent out there somewhere, but that's not how I roll, what I *need* you to do is just send me a copy and we don't even have to use your card on file.
Much love 🖖
These are some of the very best advice on sales I have seen on UA-cam. You know Alexg is speaking from experience.
Alex, love youre stuff. Been in sales for a decade. Been following you and youre wife for a year. I appreciate you a ton!
Between Chris Voss and Youre work. Its been good help. Would love some "academy" at one point.
You are such a good teacher it’s insane
Once again.
Love your content brother!
Spot on advice. keep going!
This is called disqualification. It's used for many situations both in business and personal.
Does anyone else like Alex's videos before watching them? You know it will always be like-worthy right?
I do this for a lot of the people I watch on yt. Most of them are like worthy if not why am I subscribed? 😂
Kweli dada
Great advice Alex! Thank you so very much. You are a true Champ
Oh wow, Thats smart, I love how you go deep into their life and making important room for the product you are selling. I'm Definition gonna use this in my sales process. Thank you Alex!
Thank you so much for sharing this. Alex. You bring so much value.
Used to do this in the car business. “You don’t need this is pretty much a wax on the car etc. but the warranty brings you X value.”
Beautiful. Thank you man.
You deserve every penny you make
Golden advice in this video! Thanks G. Taking my sales to the next level with phantom product and prescription sales.
Dude what this advice is insane value, thank you!
I just read this yesterday in 100 million offers 😍
Thats why doctors are the best “sales” people for big pharma. They come across as an advisor not a sales rep
That works for me all the time… It builds instant trust
This guy is so good at sales it’s terrifying
He shows a cover of 100M leads... and NOW shows a part of 100M Sales.
Bruh. My heart can only take so much.
There is a scene from Miracle on 34th Street where Santa helps parents get a lower priced toy from a competitor and Macy's markets themselves as the helpful store.
Wow this is absolutely powerful yet so simple
Thanks man I’m going to implement this tomorrow
Didn’t even started the video yet and I know it’s gonna be awesome ! Just thank you ! 🙏🏻🙏🏻 Noe, can’t wait to see it 😂😂
That’s a genius selling tactic!!
insanely practical.
I LOOVE THIS, i am recommending this to my team
The best tip I got out of this was about piggybacking on your current habits. 💪
Y'all are like Gods to me because I feel like people don't buy my product simply because I'm me😂, ill keep trying
This man is slept on
Thank you Alex! Incredibly helpful advice as always.
Now I'm trying to figure out how to implement this now
similar to the concept in 48 laws of power the power of selective honesty
Giving two choices once boosted Apple sales by 50%
I would do this working at Sephora. Customers would come in and I would tell them honestly some of these make products are overpriced and you can get the same/better product at ulta. I would put them on the benefits they would get from Sephora products. I also go the most beauty insiders at our location. It was because I would tell them the benefits of the insider and what they miss out on, or just apply it to their lifestyle.
Personally as a client if you mentioned you can find these two x items for cheaper at x store I would also check the price of your item at that particular store
One of the best videos of Alex. Than you very much 🙂
Feels almost illegal to state these things so openly. I am in sales myself and internally we do talk about this but having it disclosed so openly is like showing your hand in a card game. I guess that’s scarcity mindset though. Great video!
Fun fact: this is actually the narrative hook in the 1947 Christmas film "Miracle on 34th St."
The NYC Macy's Store Santa, who claims to be the /Real/ Santa, starts directing children & parents to other stores when their Christmas wish isn't stocked by Macy's.
Naturally this causes a bit of an uproar with the Executive Suites, however it turns out it's a massive Good-Will Publicity Campaign in disguise and sales go through the roof as a consequence.
Alex, this is a great video I can honestly say I’ve watched it multiple times and every time I was like “Whoa”!
One question, when and what made you realize that you were ready to move from low-ticket to “high ticket” products/services?
Keep posting this stuff man, your sales knowledge is unparalleled!
Wait, HOW IS THIS FREE?!
His customers watching this:
“Motherfuc…”
lol. Idk how to feel about this advice to be honest. Would work but you're lying to their face
Very profound, thanks for sharing 🎉
This was super powerful. Thank you!!!
Careful with bait and switch techniques. I do like it within reason( a well oiled team will do this without causing a concern) Depending on how it’s used of course. I love you’re stuff Alex!
Can you do this for a service as well?
This is some next level sales manipulation. Thanks!!!
Holy Shit Alex that is gold. Everything you do is gold. Thanks
This is the same method like in the example in Dan Ariely's book ("Economist subscription" experiment).
This guy is a genius, that broccoli line killed me XD
Video editing really leveled up lately
Looking forward to Ad World next month!
Great Video bro learned so much
Nice. Great tactic. Glad i got it for free instead of having to pay you for it. You just sold me 😅
king of sales
I LIKE this technical practical shit a lot
Creating the illusion of trustworthiness in seconds! 😅
I remember hearing the positive manipulation thing was from jason fladlien as well
This hands down in your top video Alex..> Thanks
genius! thank you!
This completely reverse engineers the idea of the loss leader effect.
So funny, I actually do this daily without even realising it lol, genuinely don't make any comission on the products Im "ghosting" and we sale them for 5x times retail, its just the decent thing to do to tell them go by elsewhere and upsell on what I do make comission on.
Best video I’ve ever seen
Art is a lie that tells the truth. Sales is an art.
Hey Alex. What advice would you give 30+ yr olds how to make more money and turn their life around after a mediocre "20s?"
Do this is amazing I cannot wait till your 100 million sales book comes out please please release that ASAP!!!!
Love it, supporting you audience to the maximum level!🙌
Damn Alex, this is gold! Thank you for the tips. 🍀
When he said 100% close rate and his students 80-90% close rate, i assumed this was a sales coach parody video
pure value
You’re insane bro🙌🏽🙌🏽🙌🏽🙌🏽
This is great, provide value and work inbound
*SUCCESS IS GUARANTEED WITH THIS*
*Fear The Greatest Hinderance Of Success*
Fear is the primary reason people fail, or even don’t start something in the first place. But living your life in fear will only cause disappointment in the long run. After all, “we miss 100% of the shots we don’t take,” so don’t let fear stop you from taking your shot.
*I LOVE YOU* 😘 💕
Thanks for this Alex! 🤯
this is sum potent stuff bro
Literally chapter 4 in Influence by Cialdini
Love this gold! Excited about your new book!
Carry "Ghost products" that you never sell and actively discourage customers from buying them to gain their trust on other products
Ways to do this:
You don't actually need this
You can get this cheaper from a competitor of ours
Thank uou for this!
In a 90% success rate, what are the indicators for the 10% deficit?
I'm looking for people to connect with same intrests...
I'm intrested in e-commerce.
Thatwas super smooth and really useful thanks!
This has worked well for me, I do this as well.
Congrats on 400k!!!!!
thanx