‘$100 Million Offers’
How to make offers so good people feel stupid saying no.
by Alex Hormozi
The strapline of this book best describes it’s purpose for the reader … “How to make offers so good that people feel stupid saying no.” and my one line summary is …. ‘it really delivers this purpose in spades!’.
I received a lot of great feedback from the subscribers of my ‘book of the month review’ for last month’s book by the same author “£100 Million Leads”. The 2 books are obviously designed to be read in tandem with the respective themes of ‘getting more leads’ and ‘making more compelling offers’! . This month’s book review puts it’s author Alex Hormozi in a very rare category of authors who in 11 years I have reviewed and recommended for 2 different books. The first being my mentor Dr John Demartini (The Values Factor & The Breakthrough Experience) and the second being, Eckhart Tolle (The Power of Now & New Earth).
There is no questions that I will be using some of the strategies in this book to help some of the business owners that I work with to grow their businesses! This is probably the highest accolade I can give any book about business growth!
The author has literally been there, got the tee-shirt, and not only watched the movie, he has ‘made and starred in the movie’. Starting with his own small gym business, he began to help gym owners to grow their businesses and most of his business ventures exploded with growth. His multiple diverse business ventures now turnover hundreds of millions of dollars in revenues.
The outcome of this book is beautifully simple. To provide the reader with a simple ‘how to framework’ to make what the author defines as ‘A Grand Slam Offer!’ This is defined as … an offer for a product or service that people desperately want that will give them tremendous value that they are prepared to pay good money for.
The author suggests that for a business making their first true, Grand Slam offer, the offer should be able to net you $100,000. The author started with this goal and within a decade he has now, through his various businesses, made several offers that have netted over $100 Million. You can check his website https://www.acquisition.com
Here is a summary of the key items that the author covers in the book:
1- Why you must not be a commodity in your chosen marketplace. Make an offer that is so unique and authentic to you, that it is difficult to compare it with other offers in the market. In doing so you rise above the competition.
2- Why are you should pick normal or growing markets to operate within (not shrinking markets) and why niches get you riches.
3- Why are you should charge a lot of money. There are many benefits to ‘the client’ as well as you when you charge more for your services, e.g., greater leverage and more commitment, perception of value, your ability to deliver great value!
4- How to charge a lot of money using the four core value drivers.
4.1-Increase your client’s / potential client’s clarity of ‘dream outcome’! ‘What will I get out of this?’ – dream outcome,
4.2-Increase their likelihood of achieving dream outcome! ‘How will I know that it is going to happen?’ Their perceived likelihood of achieving their dream outcome.
4.3- Decrease their perception of TIME needed to achieve dream outcome! How Long will it take? ‘How much time will it take me?’ Time delay
4.4- Decrease their perceived effort and sacrifice! ‘What effort and sacrifice is expected of me?’
5- How to create your value offer in five steps.
5.1 Problems: List ALL the problems connected with your client achieving their ‘Dream outcome’,
5.2 Solutions: Define & name ALL the Solutions to these problems. Figure out how to solve ALL problems.
5.3 Trim & Stack: Make it scalable whilst increasing the value received by the client. Create flow then add friction!
5.4 Enhance Your Offer: Scarcity, Urgency, Bonuses and Guarantees!
5.5 Naming Your Offer: Create ‘a wrapper’ that resonates with your ideal client.
6- How to stack the value, make a profit and make it deliverable.
7- How to shift the demand curve in your favour using scarcity.
8- How to use urgency to treat decrease the threshold of buyers
9- How to strategically use bonuses to increase the value of your offer?
10- How to completely reverse the risk of buying with a creative guarantee.
11- How to choose a name in a way that resonates with your avatar.
All the above points are the essential components to you creating a Grand Slam offer and each of them are laced with the need to shift ‘your psychology’ aka moving the unconscious ‘glass ceiling of your mind’. In my experience, application and around 70 percent of getting results is about ‘shifting your mindset’, the other 30 percent falls into a bucket that I call ‘Why am I worth it?’ … something I have been helping business owners with for many years and a subject that is far too big for this book review 🙂 That said, after 11 years of doing a book of the month review, this book is one of a small number that qualifies for my A-list of essential business growth books!