An independent fan project, not affiliated with Alex or Leila Hormozi or their companies.

Hormozis.de

Short · MoreMozi

The reason focus is so important in the beginning is that the only solid employee in your busin

I've had a bunch of side hustles over the years and I'm pretty sure the reason none of them ever turned into real businesses is because I never knew how to track anything like conversions, cost to acquire a customer. I just never had a handle on any of it.

Watch on YouTube The reason focus is so important in the beginning is that the only solid employee in your busin

This video does not allow embedding, so you get a static preview and a link to the original.

People
Alex
Channel
MoreMozi

Alex Hormozi ›

More details
Format
Short
Origin
MoreMozi Shorts
Transcript
Full transcript on this page

Key takeaways

  • Thing number two, the metrics that you need to run a business when you're starting, especially if you don't have a lot of moving parts, are not that complicated.
  • You need to charge more than that for delivering it, whether it's a service or it's a product.
  • The only time that you're going to have a cost of acquiring customers if you're spending money on media to get customers or you're hiring other people to do it for you, which I'm guessing right now doesn't sound like you have the capital to do.
  • And so, like, I don't think you need to worry about any of that.

Chapters

  1. 0:00
    Abschnitt 1 I've had a bunch of side hustles over the years and I'm pretty sure the reason none of them ever turned into real businesses is because I never knew how to track anything like conv
  2. 0:44
    Abschnitt 2 The only time that you're going to have a cost of acquiring customers if you're spending money on media to get customers or you're hiring other people to do it for you, which I'm g

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

2 segments

0:00I've had a bunch of side hustles over the years and I'm pretty sure the reason none of them ever turned into real businesses is because I never knew how to track anything like conversions, cost to acquire a customer. I just never had a handle on any of it. I'm going to bet that the reason that you didn't succeed isn't because of that, but because you were just doing a bunch of things and never went all in. Thing number one. Thing number two, the metrics that you need to run a business when you're starting, especially if you don't have a lot of moving parts, are not that complicated. It's just you have a price of delivering something. You need to charge more than that for delivering it, whether it's a service or it's a product. And then there's going to be a cost of getting that person to find out about it. And in the beginning, it's going to be elgaries. It's going to be your time. And this is why I like services to start because it's your time to deliver and your time to get them.

0:44The only time that you're going to have a cost of acquiring customers if you're spending money on media to get customers or you're hiring other people to do it for you, which I'm guessing right now doesn't sound like you have the capital to do. And so, like, I don't think you need to worry about any of that. I think you need to go all in and just let people know about your stuff and ask them for money in exchange for it and then deliver what you promised. Like I think you're just not focusing on those three things which is the only thing that's actually going to drive the drive the business and actually make you …