Alex Hormozi Workshop Day TWO!

Happy Wednesday everyone!

Sorry this is slightly late, after I recorded the day 2 recap podcast last night (Subscribe to make sure you check it out next week) I was pretty burned out and exhausted and decided to spend the evening enjoying myself in Vegas.

I got some food, played some craps (Won about $1200!), and just chilled and watched netflix for a whole 90 minutes which I havent dont in a long long time while I digested an incredible couple of days at Alex Hormozi/Acquisition.com’s Scaling Workshop.

Whereas Day 1 was a ton of theory around business valuation and growth in general, Day 2 was focused specifically on our businesses and done via 6 round table sessions with department leads at Acquisition.com.

They all had specialities from Customer Success, Marketing, Sales, Hiring, and I will honestly say I think the last 24 hours will be a day that I look back on 3-5 years from now and realize fundamentally changed the direction and growth of my business.

The wisdom and guidance of his team (despite all being like under 35) is absolutely top notch and their ability to provide valuable insight for pretty much any kind of business is remarkable.

That followed up with some more opportunities to ask Alex and Leila Hormozi questions made for a day that had me leaving with a completely different mindset about what business can/should look like and what perfection really is.

Theres tons more, you can hear more specifics in the Podcast, but for the sake of this episode I am going to give 5 more major key take aways and how they relate to a Real estate business:

1. The goal of marketing with mass QUANTITY is to determine what your customers consider QUALITY. Then do more of that.

   • We preach around KPIs and Scaling Marketing alot. The goal isnt always to do more, but to use more and figure out what works then do THAT better. Always be measuring if Direct Mail or Outbound or Online works best. Watch for patterns. Once they emerge, double down on those and continue to grow.

2. The best way to reduce churn is increase touch rates and address past problems before they happen.

   • Now we dont have CHURN in a wholesale/investing business per say, but we do have dropped contracts! Best way to avoid this is over communicating with sellers! Communicate early wins and stay with them around expectations during the process to avoid them getting cold feet.

3. When interviewing, ask Open Ended Questions and judge their response.

   • This may be an obvious one for people, but I always find it hard to not resort to Yes/No questions when interviewing. “So you have experience dealing with challenging sellers?” BAD. Instead try “Tell me about a time you had a difficult seller/transaction and how you handled it”

4. Statistically MEN take 34% longer to convert on follow up processes than Women.

   • Pretty self explanatory. You know that old guy seller who is just kicking his feat FOREVER, ya thats normal across all industries.

5. The BEST Sales rep get about 50% of their deals from the “Pipeline”, not from new leads.

   • Alot of you who are in SCALE or came to KeysCon here be go on and on about WORKING YOUR LONG TERM FOLLOW UPS. and thats because it FREAKING MATTERS!. Industry wide 50% of sales come from people in the pipeline. Dont neglect them, work the leads you already paid for.

This is like the shortest list ever…. I could create a whole newsletter series just off things from the conference…

Want me to do that? Let me know by replying here or hitting me up on Instagram!

Thanks everyone,

Mike