High-Ticket Selling w/ Alex Hormozi | #070

Ever punched in “1…6…0…0…0…0…0” on a keypad when charging a
customer’s credit card or preparing a client’s invoice — and NOT
have to press the backspace? Maybe. How about for one item? You
hear about these 4 and 5-figure courses, programs, and products
and think, ‘good for them but there’s no way that could ever be
me.’ Really though, it’s more attainable than you think.


 


Alex Hormozi is a high-ticket sales master. As CEO of Gym Launch,
he helps gym owners market and exponentially grow their business
with his $16K-$93K programs. Full disclosure: this episode is
.01% gym talk — the rest focuses on making big money with big
value; suitable for the entrepreneur or small business owner with
high-dollar aspirations. Or if you really like marketing quotes.


 
Episode Discussions:

How Alex is able to sell a $90K+ item

Mitigating sticker shock/price objections using communities

Why you should invest in a $1K lead magnet

Succeeding with the done-with-you model (coaching +
mentoring)

Mastermind fee models

Exceptional customer service: the ultimate win-win

Transitioning to a high-ticket item

Growing a business with referrals

How to botch your done-for-you ventures

5 core functions of a business

Work for free? Absolutely!

How much value should you provide with your free content?

Value discrepancy and “risk discounts”

How niching down benefits service providers

How to turn your digital course into a high-ticket item

“Selling a high-ticket program” in 60 seconds



 


2:46
Alex’s Story

Owned 6 brick-and-mortar gyms by age 26


Got into marketing after searching for ways to generate leads


Sold all 6 gyms a year ago


Transitioned into serving gym owners


 


4:01
Alex’s Price stats

Lowest ticket item: $16k (about to bump to $30K)


Highest ticket item: $93K


 


5:12


Went from 10% referrals to 70%.


"This has grown both from us having superior sales and marketing
strategies but also from exceptional customer service and
fulfillment."


6:31
How Alex is able to sell a $90K+ item

The $16K program averages an additional $200K in revenue for the
client.


50% close rate on $16K to $90K program upsell


 


7:54


"If you're standing on a bed of broken promises then it's really
hard to sell people."


9:23
Transitioning to a high-ticket item Work for
free. Do what it takes to get amazing results for your
customers so you can believe in what you're selling. Have
overwhelming social proof. Offer outstanding
customer service. Go above and beyond.

 


15:56
5 core functions of a business: Lead generation Lead nurture
Sales Fulfillment Retention/Ascension

 


16:35
High-ticket funnels, Communities, Sticker shock

Alex gets prospects involved in a community where they connect
with other gym owners who've successfully used his program


 


23:12


"Specializing is important because if you're a generalist, it's
really hard to be great."


24:25
Investing in a ‘$1K ‘lead magnet

People judge you by the quality of your lead magnet.


Spend time and money, get it formatted, make sure it looks good
and showcases the best aspects of your brand.


 


25:20
“Selling a high-ticket program” in 60 seconds

Create more value for a customer by looking at the 5 core
functions through their lens.


How can you support them through each phase?


Train your team to execute based on a troubleshooting process


 


26:08
Turn your digital course into a high-ticket item.

 


27:15
From ‘done-for-you’ to ‘done-with-you’ services

Start with undercharging


"Continue to increase your prices as you feel the conviction that
you're able to do so."


Pride yourself on having exceptional customer service. Tell
people and you'll force yourself to live up to it.


 


29:20


Most people mess up the done for you model by being overly
concerned with their positioning.


 


31:19
Succeeding with the done-with-you model (coaching + mentoring)

Sell continuity by selling an associated identity

Prioritize spending and budgeting according to the new
identity you want to fulfill

"During an intensive, your goal should be to have success as
soon as possible — have a win as fast as possible so your clients
can get momentum."

Overdeliver on communication

Ask for testimonials and referrals because that's what grows
the business.

Ask for feedback and use it to improve.



 


38:46


"Sell to people who already have businesses because it's a lot
easier to make that person successful."


39:29
Mastermind Fee models

Charge for mastermind halfway through program, paid in full
and up front

Presell and deposit

Monthly fee with upgrades/premium services

IOU



 


42:46
How much value should you provide with your free content?

"A voracious appetite for improvement, overdelivering, and
amazing execution differentiates the winners from those scraping
by."


45:12
Value discrepancy

"If you're not making the money you wanna make it's because
you're not that good...If you're amazing then that first customer
will send you a second customer."


 


47:36
Encouragement for the newbies:

"You suck when you start, you'll suck a little less, and one day
you suck so little you'll be good."


 
Connect with Alex:

 


Idonthatemoney.com  (must-read CTA buttons)


 


FunnelHackingLive


 


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