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I talked to a room full of business owners for eight hours about how to make more money.

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Here's one of the best moments about how to improve your offer.

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So there's something called in the software called willingness to pay,

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which is like what's the thing that gets people to want to buy?

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And so they plotted everything across this chart in terms of the features.

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Like where are the things in the like the offer that had the highest willingness to pay

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that people value the most. You want to be in this box over here.

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And the four things that they found were exclusive.

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One was access.

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Just so we have buckets to think about this through. Exclusive content.

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Exclusive events. And the way they ran this research study, they had newsletter,

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which to me is content, but I'm assuming that this is basically this is probably video that was

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written. And so those are the four biggest things that have willingness to pay.

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And so they also looked at like exclusive merch, discounts that were associated with the

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community. They looked at priority support. Like they had a number of different things that they

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looked at. But the thing that had the four that had the highest willingness to pay were these

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four things. So these are the things that people value the most within the context of recurring

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community. If I were to build a community, these are the things that I would include.

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Some of you may not want to do this, but when I started gym launch, one of the things that we were

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able to get a huge boost in conversions was my sales guys were able to say, like, you can talk

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to Alex every day. And so I hopped on a daily call every single day. And so they knew that.

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And so I would hop on Zoom for 60 minutes. Same format every time I was like, hey, here's how you

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ask a question. Put those questions in the chat. This is the format. If you don't follow the format,

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I'm not going to answer the question. Rather than hearing everyone's life story, I could just be like,

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what's your revenue? How many new members a month? What's the main constraint that you're

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dealing with? And like, what have you tried so far? And so by getting that, at least in that context,

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I was able to just really quickly hammer, I'd be able to answer 100 plus questions in an hour.

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And even if I couldn't get to someone's question, the likelihood that their question was one of those

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questions was fairly high. And so what ended up happening is like, a lot of people ended up just

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like eating lunch with Alex, because I did in the middle of the day, because at the time for gym

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owners, the middle of the day is the time when they have the most time, like the peaks are morning

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and afternoon. And so I would agree that if you increase call frequency, you will have more people.

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And it makes it very sexy from a selling. It's like, you can talk to me every day. So if we're

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looking at this from a bucket's perspective, this is one of those things that we can add to improve

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any offer you have. And it'll be more and more powerful. The higher the frequency, and obviously the

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lower the head count. But if we're looking at very high volume communities, then it'll just be

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frequencies. It's the only thing that we can really control for. Okay, so these are a lot of

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different ideas that we can do. Oh, go ahead. Do you have a team that is trained and really fit

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and they offer calls instead of you? How do you get people to want to get on a call with your team?

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Because we have that. And when it's me, everybody's coming when it's the team. You mean, like group calls

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with the team? Group calls with the team. But it's quite as good as they have been doing

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there for over a year, right? And they interact with the members on a daily basis.

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If you can answer the questions better than they can, then it means that they need to be better.

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Like if someone comes to me and says, Hey, Alex, how do you run GDN display network? I'm like,

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I don't know. Ask Paul. I don't click anything. I barely, I don't even have my logins for my

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bank account. I have no idea. Like you're going to be saying like, you're still very good at that.

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Not to say you should be bad at it. But it's more like, how do I get them to be more in the day to

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day so that they can't answer it? Because customers are bloodhunts for value. And so like, if they're

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going to you, it's because you're providing more value than your team is. Like that's the big,

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the big principle, you know, like, so I don't think there's like a quick hit tactic. It's like

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the only way they will go is either if you just remove yourself entirely and they're the only

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people that can have access to. Or because I mean, I did this. I had, I had my daily call. And

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eventually I went from five days a week to four days a week to three days a week to two days a week

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to one day a week. And I would replace them with other people. Now, at a certain point, the,

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the call attendance, it, I mean, it went probably in half, but then it stayed there. And especially

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because the frequency they could interact with me was much lower. Like, it took 12 months for me

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to completely remove myself. So it's not like, all right, so I'm not doing daily calls anymore. Coffee

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is with Hamad, you know, like, it's like it won't work. Yeah, it's, it's very slow and then heavy

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on edification. And then also coaching them on how to, I mean, like, on presentation skills.

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It's like literally teaching them how to present. And if, have you ever, have you ever had like

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sales teams with phone sales and things like that? Okay, well, it's a lot like training scripting.

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And so it's like, well, this person asks this question and you said this, let's play it. And you

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do games like this is ops, but like, play it, pause. Now, say it this way. Okay, great, say it again.

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Great, change your tone like this. Say it again. Okay, next time someone asks this question,

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what do you say? Like, that kind of drilling, but that's what it takes to get yourself out of it.

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And most people aren't really to do that, which is why most things aren't soluble. So these are

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access from a content perspective that anyone have any like, and like features, products that were

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like kind of zesty or had some, you know, zing to it that that you found people were like,

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this is the reason I bought.

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Process, this takes more time. But some of the things that I've learned to be a guest stuck

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removed in five days or two days. So that result to become real faster is what makes you go back

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right. As soon as I say that, and you say the exact number of days?

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Yes, so I, one of my things is to get something removed in 24, 72 hours. And then once I say that,

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don't even care about the rest. I say, like, I'm getting that, you know, and that's just one bonus.

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From a bonus perspective, because I literally just finished the third book on this,

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something that I've given a lot of thoughts is that people don't buy because of the aggregate value.

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They buy because one thing is worth it to them. And so rather than trying to make this list that

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adds up to this thing, it's more about how do I have as many very legitimate value things that

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on their own are worth an access of the price. And so trying to think about my bonuses for anything

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that way is how do I make this just every single bonus has to earn its weight that it has to

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be worth more than the price. And that'll force you to also get a little bit more consolidated on

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the bonuses and really just focus on the sexiest stuff. And usually for different avatars. If you have

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like different psychographics of people who are coming into your business, like I'm sure there's

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some people who have like really bad credit from a long time and some people just had like,

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they had a medical bill or something and something happened, right? And so having specific bonuses

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that are going to speak that in and of themselves for that one avatar is worth it. I want to have

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like the punchiest, most distilled, every one of these if you read it, you'd want to buy for this

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alone. It's like taking mental rent. It's like every one of them has to pay rent to be there.

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Because they only need one reason to buy. I think just asking yourself, what is what is something that

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if I removed everything else? If I just offered this one thing, people would still buy. And then

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using that is the litmus test for every one of the bonuses that you add. And then I think it

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will force you to think of better things that you can do to make your overall offer more valuable.

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And I would also think about that through the different lenses of the avatars. The guy who

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has a medical emergency, the guy who has 10 years, the person who got in a bad divorce,

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like each of them, for that person, this one thing alone is worth it.

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You were a Dean's valuable mentor, like what's your director doing, do you think?

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If you're just like, you know, he takes something interesting the last night about them.

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Yeah. So I've been running two in real life events every month recently.

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Interestingly, churners actually weren't up. It's just so surprised, but it makes sense because

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look, I do it in real life event. I bring the boys out to like a big park, we wrestle in the

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mud and then we all dress up and do it like this business must in mind.

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Did you let anyone come? Yeah, anyone was inside yet. We were thinking about now

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making a lock in it behind a 12 month event. Yeah, I mean, that would have been my first

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thing. It's like just move it. So then it's like this big thing because then it goes from

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I'm missing out on this thing to I can't wait till I get this thing. And I think I think that

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that alone would probably solve it as a second little tidbit for anybody else who does events.

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Whenever you do events, you want to also announce the next one. Upsells happen at the point of

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greatest need, not the not the point of greatest satisfaction. It's a big misnomer. Sometimes they

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happen at the same time, oftentimes they don't. So like if I give you a steak dinner and then

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eat your steak dinner and then I say, hey, do you want to steak? You're like, no, because the

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timing's wrong. And so we want to do we want to offer them the steak when they're starving,

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not when they've just eaten. And so the like after an event, they've just had like this massive feast.

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And so they're like, I'm good for a while. Like I'm I got I got my value. And so it's like,

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oh, let me open loop the fact that there's going to be another thing that's coming. And it's even

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better than this thing. If you think you're like this, wait until dessert, right? And you just

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you just keep pushing it out. We learned this because I my my churn spike that one of these massive

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events has spent like two million bucks on the events just make it this like wild crazy thing.

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Everyone's like, this was awesome. Thank you so much. Like I was like, what? But churn going into

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the event went down. So it's like, okay, how do I get that to stay? It's like, oh, you just

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always have one that they know that they can come to. And then I think put it past that 12 month

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and you'll be golden. All right. So events, I'm going to put two bullets here. Number one is

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have next plant. And then lock after six to 12 months. Make it something people earn.

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From a value perspective of something else to add as a bonus like conferences events,

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things like that tend to have real price tags associated with them. And if you're charging seven

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dollars, you're like, well, normally I would charge $99 for this two day virtual event or something.

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You get that. And again, you can you can put it later on so that they they lean into to staying

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for it. As an aside, and probably an obvious point, but I might as well make it. You can also sell

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stuff at those events. Just throw out there. Like, yeah.

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No, no, no, no, no, no, no, no, no, no, no, like, no, like, no one sells it your event, but you.

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And if you're going to sell one of the things, I think I think people make a mistake of is

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these people already like you, you don't need to have a very long pitch. You just need to present

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the offer and be like, hey, by the way, I've had it, you know, there's a number of you guys

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been talking about this stuff, talking 15 minutes. If you want to do it before lunch or do it before,

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like, do it before talking period so that if you have sales guys or whatever, they can help

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sign people up. Having looked at data across our portfolio companies that run events,

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one really interesting thing has come out, which is that if you can segment the audience of

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the people who are attending based on revenue and income, I used to think about like, what

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percentage of the audience am I converting? And now I just don't care at all. It's just of the

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qualified people in the room who am I converting? Like, you can absolutely go into a room and close

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80% if everyone's qualified. And so a lot of those events from an upsell perspective are going to

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be about who's in the room. Anyone even doing newsletter? Well, people value it.

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The next one would be like posts in the community. Yeah, I would post and then send email to

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everyone. I think it's easy for us to get your successful students and interview them.

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It's like a testimonial and content and motivation. I think a lot of you guys are saying how do

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people vote for it? Hearing those people that are like them winning is the fair. One of the other

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things that to talking about, like what makes a company sellable, the success interviews. So

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we do this thing in our portfolio companies called lifecycle ads. So there's a lot of different

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ad types that you can do that are outside of your face. And one of my favorite ones is lifecycle ads.

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You'll see some from school soon. But basically these success interviews, if you're smart about it,

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you actually walk that through in a piffing bridge. And so what that means is I'll just drop it.

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So you've got

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internal external and then before turning in after.

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Like I've looked at a zillion testimonial templates, but that's the one that I've been

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able to teach and my team can do it, which is what was life like before internally? Before you

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saw this, did this or the external stats that other people would observe about you before you

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decided to do this thing? What made you like what made you actually take the next step externally?

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And then internally, what were the things that you were most concerned about? And this is like the

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key question. And I'll explain why in a second. But someone's like, yeah, I was struggling.

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I, you know, my wife didn't respect it anymore because I couldn't make money and that external

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stuff. I was making $3,000 a month. I was behind on payments. I almost lost our house. I did

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downgrade our car, external stuff. And so then, you know, I saw an ad from Alex, whatever. And it kind

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of caught my eye. We're like, well, what were your biggest concerns? Well, I didn't know if it was

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legit. Well, then what made you decide to do it anyways? Well, I saw all the other people that

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had, you know, had testimonials and they looked like gyms like mine and actually found somebody

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on the page that had almost the exact same model as me. And I was like, okay, what if work for that guy?

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Maybe I'll give it a shot. And this is why it's so key in the decision-making process because you're

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literally talking to the prospect from a prospect, not you, walking through them, making a decision

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about why they laid their fears and their concerns and took the next step anyways. And then you're

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on the interview now and you say, okay, well, what's life like now, externally and internally? Well,

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now I was able to get back the car. I upgraded. We moved to a better neighborhood. My kids can go

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to a better school. And I feel better about myself, blah, blah. Right. And so this is one part of the

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life cycle. And so you can condense that into a 60 year, 90 second ad with just the highlight points.

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And it also becomes an ad. And so when you're running these interviews, its content, its bonuses,

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and its ads. Let me hit a couple of these. I think I can probably just round them out pretty

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quickly. Attracting the right people comes down to what bonuses you're promoting and what promises

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go with them. And so like, most times you're like, I want to get richer people, but when someone

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forum comes on the phone, I still take their money. If you want to attract better customers,

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you have to be able and willing to turn away worse customers. All right. I'm going to tell a

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three minute story, but that way you'll remember it. I did a consulting day years ago with a guy

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who's in my space, in the gym space many years ago. And he had the same sales philosophy as me.

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So he was selling the same number of people as I was, but we're making 70 times more profit

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than he was. And his cost to acquire customers was about the same as mine,

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selling about the same number of units. But the main difference is that his customers were worth

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$5,000. And my customers were worth $42,000. And so the thing is that he just ran ads about like,

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hey, if you're in fitness and you want to make money, come to me. And my ads were,

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you have to be a gym owner, you have to have assigned lease, you have to have at least one

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employee, and you have to have at least 30 members at your gym. And the way that we figured that out

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was that we looked at all of our customers, found the top 20% said, what do these people have in

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common? And then we made that the qualification. And then that ran through every part of the funnel.

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So that was in the ads. We said, this is who it's for. This is who it's not for. If you're a trainer,

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if you just want to make money online, if you want to do all these things, this is not for you.

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And then our people were like, thank God, I just wanted to have like a legit place where real

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gyms, real businesses are here, who are dealing with employees and all that stuff. And so also to

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that same degree, if you have bonuses and you know that these beginners love that bonus, cross it

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off, because the people who are going to be the better avatars are going to have a very different

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set of things that will be valuable for them. And so it's a it's a big strategic change,

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like your offer changes, your bonuses change, your marketing changes, your funnel changes,

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like you change the business entirely when you when you decide to attract better customers.

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If you are serious about it, otherwise it's just a complaint forever. Like for example,

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of really business, you know, busy business owner to to your point, they might not want calls,

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but they might love the fact that they can just DM or slack or something like that, not slack,

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but you know, like DM to get access and have quick responses, that might be more valuable than

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even having calls. And if you're dealing with founders, then it's like founders is very broad,

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but if it's like tech founders, then it's like, okay, well, then that's now we can get we can get

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really juicy on this and make stuff that they would want. Like we also have our pitch deck that

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has already generated over $100 million in fundraising and you can just copy and paste your logo in,

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and then your benefit in selling points. That alone is worth more than the price of this thing

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for five years. So that's about attracting the right people. We covered what to add. So let's talk

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high-ticket versus low-ticket, co-existing versus transition. So as long as the price points aren't

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like too close, then I don't think you're going to have an issue of a cannibalization. Like

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and the right type of customer just wants to pay more to have more support, more implementation,

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how more et cetera. Fundamentally, like I like to think of the clear line between the two as

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implementation versus stuff that's unlimited has no marginal cost. That's how I would differentiate

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those things. The things that are not immediately scalable are the things that you charge more for.

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So you're doing a lot to get, when should we even think about adding the higher tickets then?

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You have a lot more team, a lot more employees. You have more reputation risk that goes like

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the amount that people are upset for $7 a month is very different than $10,000. Just a very

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different level of upset if something doesn't deliver. And I will hit on this scammer thing because

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we might as well hit it now. The big reason the information market has the reputation it does

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is not because of what they teach, it's because of what they promise. We have workshops here. We

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don't do them for free because we incur costs in order to like put these on. We have caterers,

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we have all this stuff, right? No one's upset because I don't promise anything. I say I'll share

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the stuff that has worked well for me. And if it works for you, then great. You get in trouble when

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you say you will make $10,000 a month in 30 days. And they don't make $10,000 a month in 30 days.

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And the vast majority don't make $10,000 a month in 30 days. That's like, that is fun. Like,

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Dave Ramsey. So like, let's zoom in all the way out like the people that you want to look at from

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a brand perspective. Dave Ramsey is a guru. He sells courses, he sells events, he sells an app,

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and he sells coaching. Literally his four products. He sells media to technically advertisers,

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but those are the four brain products that he sells. How does he do it in a way that no one calls Dave

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Ramsey a scam? Because the promises that he makes are absolutely justifiable. If you save $2,000 a month,

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you will have $2,000 more a month. No one's going to fight him on that. If you didn't save the money,

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you didn't see the money, right? Now that's part of the unique thing about his particular

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business is that everyone makes some amount of money. And he says, if you spend less of it,

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you will have more or less over. And if you listen to any of his stuff, he doesn't even make claims.

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He just provides value. And then enough people, because when you're just providing value,

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you grow at such a faster rate that then people just want more. And so I think someone else was

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early asking questions like, what is free versus what isn't in terms of content? Honestly,

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the same stuff. And that's why, and to be fair, I take that more as my free stuff should be just

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as good as my paid stuff. More than my paid stuff is now junk because my free stuff is not good.

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Like I spend a year on a book that I give away every year. And I just want that to be so exceptional

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that it spreads on its own. And so I think if you think about how do I make my amazing free stuff

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just as good as my amazing paid stuff, at some point, you just draw a line and you say,

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if you want more of that, you can pay for it. And people will be like, well, I consumed all this,

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I want more, and they'll pay for it. Because this was worth more than the price of free,

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and it was worth more than the time they gave before. Yeah, so my question, I guess, is more

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specific on not that it's difficult to satisfy customers. We have no issue that we have had not

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a single complaint for a people calling us a scam. Sure. Probably the program. The issue is

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because it's high ticket, people want to look it up. People that didn't buy, they just went sales

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call. Yeah. They're the ones that are osingous negativity. Sure. A lot of times we've had tell

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these people are crazy, which is by the way they write. Sure. But we've had, yeah, but we've had

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run, I'm ready to throw it down. Yeah. So when people search, it shows a thought. Sure.

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And so it's like, what do you do to combat that? Let me zoom out for you. One,

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every single YouTube video that I post, people are like, he's just trying to sell his course. I don't

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even have a course for sale. So like point one, point two is that the only way that you combat that

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is being 10 times louder. So think about it as like a percentage of mind space that exists. They're

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this loud. If you're this loud, then they're 50% of the talking about you. So you drown it out.

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You shrink them into a relevance. See only what you do with it because you're not going to change

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humans. People who don't know you will make an assumption because you teach anything about

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making money that you automatically have these things that they've seen from other people who

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teach money. And so they will just make that association on their own, which by the way is what

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branding is. So like you're not like as long as you do this stuff, that will happen. And so the

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question is what do you do about it? I don't think buying the right threat is the answer because

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another one will come up. It doesn't really matter. You just need to do this. Yeah, like zero attention.

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Like, and I'm only going to highlight this because you're here because this is important.

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The fact that like you flew here and like the most pressing question or one of the most pressing

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questions you had was this is them winning. Because all of that mind space could just go towards

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making more money, making the business better, making the product better. Like they get zero.

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Like in general, also if someone like makes a big public blast or they do a hit piece and I'm sure

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I will get one in the future at some point, I will never acknowledge it. Why would I tell my

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audience about this thing? Like that's the biggest gift in the world. Now all these people are

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telling their audiences about you and they're doing it for free. Okay, so that was about attracting

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or this was this one coexisting between the two and the when. It's yeah, it's an entirely

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different business. If you want to do that, like it'll absolutely be an increase in income.

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The process is basically weaving it into the customer journey. So if you have your journey for

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the customer who comes in, they get an event at months, you know, whatever three and they've got

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their coffee with hands every day, lots of coffee. This is awesome. We want to make sure that the

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communication that's going to them during this period of time, we want to have a point that's an

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activation point, which basically demonstrates that they're ready. You don't want to pitch everybody

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in the community because it's not for everybody and everyone wouldn't benefit and it just won't look

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good. But if someone is now reached a certain level, like they hit a thousand subscribers or whatever

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the metric is for you. So hey, guess what? You won this and then you have a call. And so that call,

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you provide value and then you just ask them if they want to do next steps. It's just and all you

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do in that call is say you're here. You want to get here. You will absolutely get there on your own.

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The question is whether you want to take it five years or you want to have it take five months.

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Yeah, go ahead. Oh, I've got a good one in terms of when you know if you should offer a

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certificate, because I think Hamza was kind of talking about this. Okay, maybe that's the process.

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So what I found when I was selling the logo to them first, because that's how we got started was

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that a lot of my successful students wanted more. They keep coming to me and they're like how

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I've already hit the goal that this course was for. And I want I've got more money, but I want more.

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I want to go to the next level and you don't have anything like I want more like book. They were

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basically offering to pay me money for something more. And once there's enough of those happening,

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that's when you know that there's a need for a second level, basically. Does that make sense?

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Yeah, you need to demand. You yet definitely don't put it in. Yeah.

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So there's that you can see a cliente because then all you do is when you see people get this level,

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a lot of them are hard for it. And then you can just message those particular people.

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That way I'm not like smashing everyone in your community every day about your high ticket thing.

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It's more just cherry pick and you get the best people in with without even really promoting it.

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Does that make sense? That spot I've found works well.

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You can engineer the activation point by telling them that as soon as they hit the objective metrics,

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they win an award like for us, we had a sword. So when Jim hit a million dollars a year,

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they would get a sword. And so we do the live event like when we do the our events, we'd have a

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award ceremony for everyone to get knighted whenever they get the sword. But whatever that that

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number is for you, they're going to turn in a video. They're going to turn in substantiation.

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All of that becomes ads, by the way, the second way of getting asked from people.

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And then you also can then just they will just lean into you because they want the thing and then

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you can then ascend. But I really I will re-emphasize Sam's point that like you can you can never do it

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too late. You absolutely can do it too early. Because like if you waited four years and you have this

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massive community, it'll just be better. Like the engine's still going to be the front end.

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Like the the community, the low ticket on the front, it's still going to be the main economic

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engine that drives the demand into the higher ticket. Did you guys see the guy who won the school

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games this month in March? So this guy's a high ticket guy selling insurance stuff or whatever.

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And he sold a $10,000 thing. That was his whole business. He came on school and then he wanted

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to win the recordings from today. So by the way, shout out. And so he just got on the phone with

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his normal customers. And instead of selling the 10k thing, he just sold them $1,000 like $99

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for a year and put him into the school community and just got three of them on because he wanted to

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get the three recordings. But then the sales were so easy that he switched his model and sold 50

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people into that in like 20 something days. And so I mean Sam and I've talked about this at length,

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but I think there is a movement that's moving more from like grass is always greener. There's

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tons of operational challenges that exist with high ticket in general. And he'd also have to

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factor in profit because I know that in first place you hear a lot of numbers throwing around.

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Was revenue? Yeah, like million a month. It's everyone's goal, but I've met many people that

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make money in a month that actually profit less than answered. So like because he has nowhere and

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he just employs his siblings. And the easiest way for Amazon to double is just to do affiliates.

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So like he could get to 400 grand a month. And I know a lot of people that make a bell a month

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don't make 400 grand a month profit. For sure. Like 100 this year. So always be more realistic

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about it. Well, you hear these big numbers, but by the time you pay the sales team and ads,

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it'll long that money's gone. If I could go back in time. Again, we talk about

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sellability of a business. Jim launch was by far the most expensive player in the market. So

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ours was $4,000 a month, 43 technically per month to Jim owners who on average say come $30,000 a year.

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Tough. There was another guy actually in the UK. And I noticed this price point continued to

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reappear, but there were guys were able to get like 36 month, 40 plus month LTVs selling more or

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less the same thing, not the same thing obviously, but like at like 800 to $1,200 a month. And so the

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what I realized from Jim launch and we've obviously we've since changed the pricing and whatnot

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was that we had to price to people's worst month. Because even though if we made on average,

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so the average didn't for us add an extra 120,000 profit per year just using the system that we had.

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And so for me, I was like, okay, well net of us it was 120. It was 160 with us like if we didn't

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if we were free, right? So we made in 160 net of us was 120 in extra profit. Now again,

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these guys are making 30. So I quadrupled their income like pretty sexy offer and we did that on

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average. But they would still cancel if they had a bad month. And so I saw that these other people

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were able to maintain customers because they had they were above their worst month. They still could

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afford the thing. And so because of that, they knew that if you got one thing a year, it would pay

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for it. And they were willing to continue to pay at that price point. And so there's a wild difference

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between what someone will pay at their searing hot pain point versus what they will pay after they

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had a stake dinner. Like do you still want to have some stake? Well, I might want to have some

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stake tomorrow. So maybe I'll be willing to pay, but significantly less. Like that price point,

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compared to the value is where people continue to pay. It's just it's I was impatient

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because I wanted to make the money. But if I had known like, but for context, if I had 6000

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gyms right now paying a thousand dollars a month, I'd be making six million a month or that

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business would be doing six million a month. Just on that side, we had the supplement side too.

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And so that would have also been significantly more profitable. I think if you really do provide value,

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you might find that there's an amazing spot at like seven hundred dollars a month that people just

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like, the thing is is you'll be able to sell like N for selling. We'll go up like eight X.

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Right. And so that's where like that, this is literally just a pricing graph. And then you just

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look at max units and LTV. By the way, for everybody, small group is the most profitable way to do it.

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Long way. Okay. Good on offers.