Business Book Review: $100M Offers by Alex Hormozi
$100M Offers is a masterclass for anyone who’s ever sold themselves short. Reminding you what you and your customers really deserve.
My Rating: ★★★★★
Length: 163 pages
Publisher: Acquisition.com Publishing
Released: 2021
Key Takeaways for Personal Branding
Like something straight out of The Godfather, the book’s premise is to make offers so good they can’t be refused. Or “so good people feel stupid saying no”.
$100M Offers shares how Alex Hormozi went from nearly going broke to a multimillionaire.
Grand Slam Offers
Taking a leaf out of baseball, Hormozi advocates for creating ‘Grand Slam Offers’.
They present the marketplace with an offer incomparable to anything else available. It combines a compelling promotion, unmatched value proposition, premium price and an irresistible guarantee.
As a totally unique offering, it means you’re selling in a category of one. Like personal branding, which assumes there is no one just like you, the competition becomes irrelevant.
Value Equation
The ‘Value Equation’ Hormozi presents is:
Dream Outcome x Perceived Likelihood of Achievement/
Time Delay x Effort and Sacrifice
= Value
Proposing to increase the two top drivers as much as possible, while decreasing the bottom.
Like with all good personal branding, it’s a reminder to ask yourself what problem you’re helping solve.
Bonus Stacking
‘Bonus Stacking’ reminds us that a single offer is viewed as less valuable compared to an offer broken into its parts and stacked as bonuses.
Instead of discounting your value, this strategy creates a position of goodwill.
Favourite Quotes
The only way to conduct business is through a value exchange, a trade of dollars for value. The offer is what initiates this trade.
Sell your product based on VALUE not on PRICE.
When I truly grasped how much more profit I was leaving on the table, it changed my life.
When you decrease your price, you . . .
. . . Decrease your clients’ emotional investment since it didn’t cost them much…
Pricing your services or product in such a way that it stings a little when they buy. That sting will force and focus their attention and their investment in your product or service.
The thing people buy is the long-term value, aka their “dream outcome”. But the thing that makes them stay long enough to get it is the short-term experience.
They buy the dream, but they stay for the benefits they discover along the way.
Hormozi pays meticulous attention to providing examples to help illustrate his points. $100M Offers will have you rethinking your entire pricing strategy. Evaluating where you’re selling yourself short or even disadvantaging your customers.
The book is a familiar masterclass in sales, marketing and copywriting. But, is shared with a unique sense of personality. Allowing its point to resonate with greater impact. Some might say, you feel stupid ignoring the advice it offers.
$100M Offers by Alex Hormozi: Available on Amazon.
