Alex Hormozi Reveals The 5 Sales Tactics That Got Him To $100M In Less Than 4 Years
If you think about today’s startups and selling, there are three actual sales that every philanthropist has to consider. Fundraising and recruiting the best talents are critical sales campaigns entrepreneurs should not ignore as they are the primary accelerating factors for traditional sales of the company in the future. Moreover, fine-tuning your sales team for optimal performance does wonders both for the health and instilling a business culture.
According to the US Bureau of Labour Statistics (BLS), 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first ten years. The common mistakes businesses make are failing to market online, not taking customer feedback seriously, lack of clarity about leveraging future growth, becoming rigid and not adapting to the market changes, and failure to track and measure your business marketing efforts.
Alex Hormozi went through all the hurdles. At some point, he faced a difficult situation to the end of straining to pay his rent. As a result, he slept on the gym floor for a couple of months. He took the opportunity to have an in-depth analysis and figure out the gaps in the fitness and health industry and brainstormed ways to close those gaps. The philanthropist developed the SOLVED sales tactics that he shares with the clients that helped him become who he is today.
Alex emphasizes the need to do a background check on your niche. It is essential to take time and research more about your target’s pain point. Research also will enable you to discover your risk appetite, which you can use to mitigate too much risk exposure.
Through his SaaS company ALAN, Alex helps other entrepreneurs develop lead generation for their businesses to catalyze a rise in sales volumes, increasing sales margin and rapid scaling of the company.
Selling the concept of business to potential investors is every founder’s first sales campaign. But the approach to unraveling the idea often is in a reverse role by letting the clients focus on solving the problems they are experiencing through your product and service concept.
Alex elaborates on the need not to take the traditional selling process instead use the consultative selling approach. By Consultative, Alex takes the route of solving customers’ problems rather than imposing them to buy your products or services.
The reality of the current market platform is that the customers have become more demanding and aware of the competitive landscape. Leading with a product is using the wrong foot forward.
Alex, through his Gym Launch Secret Step by Step Guide ebook, teaches that entrepreneurs should master the art of approaching every sales pitch with questions about the needs of the prospect and industry. Clients are daily looking for help, and if you can position your sales tactics to address the market, you will be able to progress speedily in closing the deal.
Learn & Validate
Take time to inquire more about your clients. Get to understand how much the pain point is costing the business in revenue generation and time. Moreover, learn of his current decision-making process and key players in business ownership.
Alex insists that getting to know your target clients’ critical decision players will help you pitch to the right stakeholders. Through his Gym Launch package, Alex offers help to businesses in implementing the pitching decks for their business that, once used, will help by triggering both cold and warm traffic towards their business.
Uncover and press the hot button. Individuals have different reasons for buying the same products or services are their hot buttons or better known as pain points. Alex describes the hot button as every entrepreneur’s critical mission to unravel it.
Deal Closure and Expansion of Network
Having gone through the whole consultative selling process, learning the different deal closure techniques will critically ensure the sale is sealed.
Besides closing the deal, Alex puts more weight on ensuring that the clients remain within your network base. After-sale check-ins and expanding the networking platform to connect with your clients will bring about a stable relationship even after the closure of sales.
Alex advises on keeping it short, precise, and direct to the point. Focus on addressing the gap, and you will never go wrong. Ensure that you have a stable connection with your clients, who will become your number one brand campaigners, and indirectly, they will enlarge your referral program.