This is BY FAR the best book on creating profitable offers for small business owners.
Sometimes finding a helpful and useful small business book is like combing the beaches with a metal detector; you rummage through tons of trash to discover a gem strewn with dirt and sludge.
This was my experience with $100 million offers: making offers to make good people feel stupid for saying no by Alex Hormozi.
Don’t ask me what I was looking for on Amazon when I came across this book on how to create an offer that your customers will buy.
I bought a Kindle version and shared the name and the accompanying FREE course on developing offers with all my friends. And now I share this with you.
Alex Hermozi is one of us
The first thing I loved about this book is that it was written by what I like to call ‘One of Us’. Alex Hermozi started his entrepreneurial journey by owning a gym. As you can imagine, he struggled, broke down, rose from the ashes – blah, blah, blah. You know how THAT part of the story goes.
But this is what Alex did that I love – he found out he has the superpowers to create profitable offers and upsells AND he documented exactly how he thinks so you can do it too.
He is a consultant and business builder, but he only works with companies that have more than $3 million in revenue. This probably rules out most solopreneurs, but he’s decided to build a funnel with two pieces of content: this book and an accompanying online course. The book contains a link to the free course.
Within $100 Million Offers
The book is written in five parts. It’s like Hermozi took his entrepreneurial journey and sketched a simple map with a sharpie.
The entire book takes you step by step through this map. Are YOU getting as good at this as Hermozi? He hopes from you.
Part 1: “How We Got Here”
This is the obligatory rags to riches story. Some people love them, they don’t do anything for me. But it does provide proof that Hermozi is an ordinary boy, just like you and just like me. This section is there to show you that if he can do it to you, you can do it.
Section 2: Pricing – How to Charge Big for Your Stuff
This is where the good begins and it just keeps on coming. Don’t worry, he doesn’t jump into the numbers out of the blue. This is a meaty section that explains the basics of both the survival and growth of a business.
In the same way that Vince Lombardi started every season with “This is a football”, Hermozi takes the time to give you the basics you may have forgotten. Such as
“There are only 3 ways to grow a business:Attract more customers Increase their average purchase value Make them buy more often.”
You learn about finding a “hungry market” – I just love this quote from the book
“You could have the worst hot dogs, terrible prices and be in a terrible location, but if you’re the only hot dog stand in town and break out the local college football game, you’re going to sell out. That’s the value of a hungry crowd. Ultimately, if there’s a lot of demand for a solution, you can be mediocre in business, make a terrible offer and be unable to convince people, and you can still make money.”
Why did I choose this quote? Because. my dear reader, Hermozi says the quiet part out loud. We cannot ALL have the very best product or service in our market. Someone will be better, cheaper, faster. But if you take a moment and get real about what you have to offer and who you offer it to, you can make money. The secret is to be honest with yourself and your customers.
There’s just SO MUCH MORE goodness to share from this section, but I just don’t have the space to share it.
All you need to know is that he breaks all these parts and pieces that you are overwhelmed with and presents them in a way that you can understand, accept and apply to your business.
Okay, let’s continue.
Part 3: Value – Honesty has nothing to do with offers and prices and your success
“From this point on you have to drop any idea you have about ‘what is fair’. Every huge company in the world is charging you money for things that cost them nothing. It costs the phone company pennies to add an extra user , except they don’t mind charging you hundreds a month for access.”
SEE what I’m talking about and why I’m so excited about this gem of a book?! There are so many face-slapping, reframing concepts that you’ll quickly read through – because it’s easy to read. But then you just have to stop and think about how you’ve been thinking it wrong all this time.
I know. That part isn’t fun. But look on the bright side, you’re only reading this – unless you do what I did and share it with a bunch of friends.
Part 4: Improving your offering. The secrets behind bonuses, upsells and cross-sells.
“Basically, all marketing exists to influence the supply and demand curve. We artificially increase the demand for our products and services through some kind of persuasive communication. When we increase the demand, we can sell more units. If we reduce the supply, we can sell those units for more money.”
This is for the advanced. You MUST master the elements in the previous sections to do what is to come. It’s not hard, it’s just a lot easier once you’ve done the hard work in the first three sections.
In this section, Hermozi takes you through an offer pyramid and helps you break down your offer into different combinations so that you can achieve your sales goals.
Section 5: Towards $100,000
This last section sets you up for action and success. The goal is to reach your first $100,000. That is it. Hermozi shares that it wasn’t his first million that gave him the confidence and security he craved — it was that first $100,000 in his bank account.
There is a subtle distinction here that you need to be clear about. You’ve already made $100,000, but chances are you haven’t had a $100,000 lump sum in your bank account in a while — if ever. And this is the golden ticket.
3772 5 star reviews can’t be wrong
I don’t normally talk about quantities or qualities of book reviews on Amazon. But the fact that $100 million has 4,000 reviews is amazing. The additional fact that 94% of those reviews are 5-star reviews tells me there are a lot of satisfied readers.
These reviewers are NOT famous, they are not celebrities, they are people like you and me who have put the lessons in this book to good use.
What offers are you going to make?
While there are thousands of marketing books out there, this is by far one of the most practical and helpful books I’ve read. The advice and exercises in this book are perfect, developed BY a small business owner for entrepreneurs, consultants and entrepreneurs.
There are so many reasons to get a $100 million copy, but here are just a few:
– You learn how to make offers so that good people feel stupid when they say no
– You will understand that the value of honest has nothing to do with offers and prices
– You get more insight behind bonuses, upsells and cross
If you’re struggling to make profitable offers and you’re tired of low conversions, $100 million will take you to your first $100,000
This post Read $100 Million Offers to Create Irresistible and Profitable Offers was original published at “https://smallbiztrends.com/2022/04/100m-offers-book-review.html”