My Biggest Mindset Shift I Made As An Entrepreneur | Ep 794

Success in any business—from a local food stand to a multimillion-dollar tech business—depends on the strength of your offer: what you present to the customer to try to earn their business. But how can you create not just any offer, but a lucrative one that people can’t refuse? In $100M Offers, entrepreneur and marketing expert Alex Hormozi breaks down his strategies for creating offers that consistently generate massive, life-changing revenue.

Drawing from his experience building multiple eight-figure businesses, Hormozi explains how to design a high-value product, strategize your pricing, find the ideal market, and leverage psychological strategies to make your offer more attractive. By following these guidelines for fine-tuning your offer, Hormozi writes, you’ll have customers clamoring to take you up on it, and you’ll gain the financial freedom that every entrepreneur dreams of.

We’ll supplement Hormozi’s recommendations with insight into some of the psychological principles behind the sales tactics and with advice from other experts on growing your business.

Want to know the growth tactics that Uber, Facebook, and Airbnb used to reach massive valuations in record time? Written by LinkedIn founder and Reid Hoffman, Blitzscaling describes the counterintuitive business strategy of putting efficiency and confidence aside for pure speed.

Learn common attributes of today’s most successful tech business models, when it’s appropriate to blitzscale and when it will fail, and the counterintuitive violations of business common sense. While nominally a business strategy book, Blitzscaling is also relevant for investors who want to discover the next big company, employees who want to know how to work in one, and anyone who wants to understand how today’s companies grow at an unprecedented pace.

Mike Michalowicz’s Profit First criticizes traditional business accounting methods by claiming that they are unintuitive, and that their unintuitive nature leads many entrepreneurs to failure. He then outlines an alternate accounting system, which he calls the Profit First method. In the Profit First method, a percentage of income is set aside as profit before any expenses are calculated. This method, he says, allows an entrepreneur to do their business accounting in a simple and intuitive way, and to increase their business’s profitability and stability.

In this guide, we’ll discuss Michalowicz’s criticisms of traditional accounting, as well as his own recommendations for how to set up Profit First accounting and use its guidelines to improve your business. We’ll also provide commentary explaining psychological and economic research related to Michalowicz’s claims, as well as practical advice on how to apply some of his broader recommendations.

Author Tim Ferriss has spent years studying how to improve the human body—he interviewed and trained with experts, studied scientific literature, and tried out what he learned on himself. In The 4-Hour Body, he distills the most effective 2.5% of what he discovered into programs you can use to improve six aspects of your body: losing fat and gaining muscle, enhancing sex, improving sleep, managing injuries, improving sports performance, and living longer.

Why do so many business models fail? According to entrepreneur, Lean Canvas creator, and best-selling author Ash Maurya, it’s because entrepreneurs assume they already know what customers want and finalize their plans before testing their ideas. As a result, they create rigid plans that they can’t easily adapt to customers' actual preferences.

In Running Lean, Maurya suggests that you can avoid this pitfall by adopting continuous validation and iteration. This approach helps build and sustain a flexible business model that evolves alongside customer preferences.

This guide explores Maurya’s thoughts on creating successful business models. You'll come away with a plan to capture the core elements of your idea in a concise, agile business model; a methodology that allows you to refine and align your offer with your customers' true needs; and a testing strategy to optimize your business for sustainable long-term growth. Additionally, we’ll complement Maurya’s ideas with research from business experts, and we’ll suggest actionable strategies to help you apply his concepts to your own business.

In Ready, Fire, Aim, veteran entrepreneur, multimillionaire, and best-selling author Michael Masterson presents a strategy for building and growing a profitable business. He explains that successful, multimillion-dollar businesses progress through four stages of development: launch, expand, optimize, and sustain. Each of these stages presents different challenges and objectives that entrepreneurs must prioritize to ensure continued growth and profitability.

This guide walks you through Masterson’s strategy for navigating the four stages of development, covering how to:

• Align your first product or service with what customers want and effectively market it.
• Generate ideas for additional products and services that increase your earning potential.
• Structure your management team to handle business operations effectively.
• Drive long-term growth and profitability.

Additionally, we’ll clarify his ideas with research and advice from entrepreneurs and management professionals, and we’ll provide actionable methods for implementing his suggestions in your own business.

In The One Thing, real estate entrepreneur Gary Keller argues that the key to extraordinary success is focusing daily on the “One Thing” that’s most important for achieving your goal, rather than scattering yourself in many directions. Keller and co-author Jay Papasan explain how to determine your goal or life purpose, then focus intensely on getting there, while avoiding pitfalls such as multitasking, relying on an unprioritized to-do list, thinking too small, misunderstanding willpower and discipline, and neglecting your personal life. When you know and focus exclusively on the most important thing every day, everything else falls into place. Extraordinary focus on One Thing brings extraordinary success.

Success in any business—from a local food stand to a multimillion-dollar tech business—depends on the strength of your offer: what you present to the customer to try to earn their business. But how can you create not just any offer, but a lucrative one that people can’t refuse? In $100M Offers, entrepreneur and marketing expert Alex Hormozi breaks down his strategies for creating offers that consistently generate massive, life-changing revenue.

Drawing from his experience building multiple eight-figure businesses, Hormozi explains how to design a high-value product, strategize your pricing, find the ideal market, and leverage psychological strategies to make your offer more attractive. By following these guidelines for fine-tuning your offer, Hormozi writes, you’ll have customers clamoring to take you up on it, and you’ll gain the financial freedom that every entrepreneur dreams of.

We’ll supplement Hormozi’s recommendations with insight into some of the psychological principles behind the sales tactics and with advice from other experts on growing your business.

While many business books tell you how to manage other people, this 1966 classic by management expert Peter F. Drucker explains how to manage yourself to be effective. Effectiveness is key to individual and organizational success. Without it, other attributes, such as talent, intelligence, knowledge, and hard work, are useless.

Drucker says anyone can learn five practices for effectiveness: managing your time, focusing on just a few key tasks, making a unique contribution, maximizing your strengths, and making sound decisions. He explains how to implement these practices, which have remained relevant for over 50 years, even as technology and organizations have evolved. This guide examines how Drucker’s ideas on effectiveness hold up today and how others have built on them.