3 Questions To Ask Yourself For Product And Service | Ep 562
"If it's not going to grow on its own over time, it's not worth doing." Today, Alex (@AlexHormozi) talks about the importance of creating a product or service that is valuable enough to generate word-of-mouth referrals and compound growth over time. He suggests three questions to ask oneself when evaluating a product or service in order to improve its value, profitability, and customer experience.
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:
(1:11) - Small entrepreneurs get customers to make sales
(2:44) - Q1: How to create the most value in the product itself?
(4:13) - Q2: If it were one-tenth the cost, what else to make it better?
(4:26) - Q3: What experience makes the customer a raving fan?
(6:40) - Word of mouth is the most powerful and compounds
(8:13) - The ultra-wealthy compounding everything they do
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(This episode is a re-run. Original airdate was August 19, 2021)