80% of Your Customers Will Bankrupt You | Ep 478

Who is your customer? Today, Alex (@AlexHormozi) talks about the concept of 20% of customers spend 80% of the money, why researching and profiling your customer is incredibly important, and providing more valuable products customers consume because after all, the buying power lies within the customer.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(1:49) - Researching lets you know exactly who you choose to serve & who you choose not to

(4:53) - The 4 steps to understanding your customer better

(13:15) - Pick the people that we feel like we can serve the most and create the most value for

(20:58) - People try and solve all of these other problems in the business rather than thinking

(24:47) - Knowing your ideal customer journey forces patience

(26:25) - Fortunes are created when we sell stuff that people won't stop giving us money for

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