Marketero · Entrevistas
I Reverse Engineered the Perfect Business
41 ideas de marketing sacadas de «I Reverse Engineered the Perfect Business», de Alex Hormozi. Sobre todo de estrategia y decisiones de negocio, medición…
- 41 ideas despiezadas
- Fuente Alex Hormozi
- Dura 1 h 04 min
- Publicada en 2023
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Reordena el proceso de venta para empezar por el producto de mayor margen
Oferta y precioLo primero que Hormozi mira al entrar en una cadena física: el beneficio bruto absoluto y el margen bruto de cada producto, y qué porcentaje de las ventas aporta cada uno. Casi siempre aparece un producto con el mayor beneficio y casi el mayor margen que sin embargo es el quinto más vendido; recombinar la oferta para que ese pase a venderse primero y en volumen cambia mucho la rentabilidad y la caja.
One's a percentage, one's an absolute amount. And in general, I look at what percentage of our sales are coming from each of each of our products. And then I think, okay, this one has the highest gross profit and the second highest gross margin, but we sell it the fifth most often. How can I recombine these things so that it becomes the first thing that we sell most commonly in the highest volume? And sometimes just making these types of tweaks can make massive differences in the amount of profitability and cashflow the company generates. And so this is just one golden BB that we do in the…
Escúchalo en el minuto 54:35
Más y mejor de lo que ya funciona antes de abrir otro canal
Canales de adquisiciónCuando algo ya funciona, lo primero es más y mejor. Más es gastar más, hacer más anuncios, probar más call outs y más ganchos, grabar con más frecuencia, hacer más llamadas o poner más setters. Mejor es afinar los guiones, la formación y la oferta que se da por teléfono. Es la vía de crecimiento con menos riesgo porque ya sabes que funciona.
what I just went over, which is the first thing that I'm going to do after I have something working is more and better. Okay. We have paid ads. Can we do more paid ads? Can we spend more money? Can we make more ads? Can we make our ads better? Can we introduce different call outs? Can we introduce different hooks? Can we create different value? Can we get a more voluminous cadence of recording in place? That would be ways of doing more. If I was doing outbound more, be more calls, more dials, more setters, whatever. Better is improving the scripts, improving the training, improving the offer…
Escúchalo en el minuto 24:32
Una oferta, un avatar, un canal hasta el millón al año
Canales de adquisiciónHasta llegar a un millón de dólares al año la recomendación es una sola oferta, un solo avatar y un solo canal: por debajo de esa cifra todavía no estás construyendo una empresa valiosa, estás ganando dinero, y está bien. A partir de ahí lo primero es aumentar el volumen de lo que ya funciona, y solo después plantearse un segundo canal, eligiendo uno que apoye al principal (el contenido alimenta al outbound y a los…
one, offer, one avatar, one channel. And that's until you hit $1 million per year. If you're not there, don't worry about this. You're not trying to build a valuable enterprise yet. You're trying to make money, which is fine. Once you're here, I still say just increase how much you're doing of these. Once you get to about here, you can consider getting another channel going. And oftentimes if you do it right, you can have the other channel support the primary channel. If I said, I want to start making content. If I have content, content supports outbound content supports paid ads. And…
Escúchalo en el minuto 23:48
Cuatro pasos para montar la medición: plataforma, datos, dueño y plan
Medición y experimentosPara empezar a medir: uno, elige la plataforma donde se van a registrar los datos; dos, elige qué datos vas a seguir, llámalos KPIs o como quieras; tres, asigna una persona dueña de que eso ocurra, un solo cuello que apretar; cuatro, arma el plan de juego para mover esos números.
Because we have evidence. So number one, pick the platform that you want to start tracking the data. Number two, pick the data. Like what data do you want to actually track? Some people call it KPIs. I don't really care. Pick the data that you want to track. Number three, person. So you're usually going to have somebody who's going to be implementing this platform in your business. Someone needs to own it. You need to have one chest to poke or throat to choke or whatever way you want to say it. And then four, game plan. And the way that we do this is we operate off the theory of constraints,
Escúchalo en el minuto 47:08
Medición y experimentosAplican la teoría de las restricciones: sobre el panel de métricas suma un 5% imaginario a cada una y mira cuál de esos aumentos mueve más el resultado final. Ese es el cuello de botella y suele ser el número más bajo de la cadena; se atacan en ese orden, del más pequeño hacia arriba, porque ahí un cambio incremental rinde el máximo.
improving the fastest, right? This is going to be the constraint of the business. And the way that you see what the constraint is, you can add 5% or a fixed percentage to any of them and see which one of those will actually yield the most throughput. Meaning if I add 5% here, 5% here, 5% here, 5% here, which of those 5% increases actually change this number the most? And the answer in this instance would be this one, which is the lowest number. So if I'm looking at this and my next lowest number would be cash collected and the number after that would be show rate. And so I would usually…
Escúchalo en el minuto 47:43
Retención y relación con el clienteEn sus gimnasios comprobaron que al programar eventos regulares con nombre propio, tipo belly blaster o big booty bootcamp, las bajas caían en los días previos porque la gente tenía algo que esperar, y volvían a subir justo después del evento. La conclusión operativa es tener siempre el siguiente evento en el calendario y comunicarlo con regularidad.
And the last one I'll give you is communication, which is literally just talking to your customers more regularly. So in the gym world, we figured out that when we said we're going to run events on a regular basis, belly blaster, big booty bootcamp, or whatever it is, our churn would decrease leading up to the event because they had something to look forward to. But then after the event, it would go up. And so what do you do? You just always have something for people to look forward to.
Escúchalo en el minuto 36:42
Sacar la cara del fundador de los anuncios en tres fases y doce meses
Marca y posicionamientoPara dejar de ser la cara de sus propios anuncios, Hormozi hizo la transición en tres pasos: primero solo Alex, luego Alex junto a su general manager, y por último solo el general manager. Los primeros anuncios del GM rendían peor que los suyos, pero los siguieron poniendo y con la práctica acabaron superándolos. La transición completa tomó unos 12 meses. La lógica es de marca: la marca son asociaciones, y aparecer…
ads that outperform mine. And the way that we transitioned it was I did them and then I would do some with him. And then those were the ads we ran in the beginning. Only Alex and then Alex plus Kale. Kale's my CEO. He's still there. To Alex, Kale separately to Kale. So that was the transition we went through. Think about this from a branding perspective. Brand is about associations. And so if people associate me with this brand, what I need to do is transfer that association to someone else. And so I say, Hey, we're in this together and we run ads together. And so people are like the brand…
Escúchalo en el minuto 14:16
Canales de adquisiciónPara decidir qué canal abrir después, mira dónde consiguen clientes de forma rentable las empresas de tu industria y de tu tamaño. Si vendes algo de pérdida de peso, los anuncios pagados son una fuente enorme en ese sector; pero si tienes un gimnasio local, mira otros gimnasios locales y no el anuncio de Weight Watchers en la Super Bowl. Si empresas como la tuya adquieren ahí con beneficio, tú también puedes.
My recommendation is look at where people in your industry already acquire customers. So if you are a direct to consumer brand and you sell something that is weight loss focused, well then paid ads is a huge source for people in that industry. And you can be confident that if it's paid ads and it's in this media type for businesses of your size, like don't look at weight watchers and be like, well, weight watchers is running a super bowl ad. So I should try that. Probably not the best first step. Right. But if you're looking at other people who run local gyms and you can say, okay, well…
Escúchalo en el minuto 27:22
En un canal nuevo mide progreso en la cadena, no ventas
Medición y experimentosUn canal nuevo tarda, así que hay que medir el progreso y no el resultado, avanzando por la cadena: hay clics, hay opt-ins, se agendan, asisten, son el tipo de persona correcta. Si no lo son, se toca la segmentación o el mensaje a lo largo de todo el embudo; si son los correctos pero no compran, hay que añadir fricción y más venta en la llamada. Sin esto verás dos meses sin ventas y concluirás que no funciona.
patient. Once you start number two is look at progress more than outcome. That's what I would highly encourage you to do because it's going to take time. So like, even if you're starting paid ads, the first thing you're going to be is like, are we getting clicks? Great. If you're getting clicks, then it's like, okay, are we getting opt-ins? Great. If we're getting opt-ins and can we get scheduled? Okay. Are they showing? Okay. Are the people who are showing the right types of people? Okay. Yes. Great. If they're not, okay, what do we need to do to tweak in the targeting or tweak in the…
Escúchalo en el minuto 25:24
Estrategia y decisiones de negocioHormozi metió el cien por cien de sus beneficios en abrir más gimnasios; cuando decidió salirse los malvendió y por seis gimnasios sacó unos 250.000 a 300.000 dólares, mucho menos de lo que había invertido en construirlos. Por eso recomienda que el fundador se saque una cantidad fija todos los meses para reducir su riesgo personal, aunque cueste algo de crecimiento.
you're willing to expose yourself to is personal. But for me, I'll tell you a quick story. When I had my gyms, I invested a hundred percent of all my profit into opening locations. I then decided after a few years that I didn't want to be in the gym business in that way anymore. And so then I basically fire sold my gyms to then start gym launch. And so I could have made a lot more profit during that period of time. And I could have sold them for a lot more than I did, but because when I wanted to sell them, I wanted to get rid of them. And so I think in total, I think it made like $250,000 or…
Escúchalo en el minuto 51:18
Estrategia y decisiones de negocioEl test de Hormozi para saber si el equipo ya sustituye al dueño es apartarse y comprobar si la empresa crece seis meses seguidos sin que él tenga que volver a meterse. Para llegar ahí, cuando alguien le lleva un problema devuelve la pregunta: qué crees que te voy a decir. Casi siempre lo saben, y entonces les dice que lo hagan.
And for us at Gym Launch, for example, my limits test is always, if I step away, does the company continue to grow for six straight months without me jumping back in? Which means that if they come to you with a problem, you have to say, you have to solve it. They probably already know what you would do and they can just make the guess. And a lot of times I would ask, what do you think I'm going to tell you? And they're like, well, I think you told me to do this. I'm like, so what do you think? Like, I think we should do that. Great. Do that. Right. And so that's how it can develop
Escúchalo en el minuto 10:43
No busques un clon: reparte tu papel entre varios expertos de materia
Marca y posicionamientoEncontrar a una sola persona que haya vivido tu vida exacta es imposible, pero sí es fácil encontrar dos, tres o cinco que hayan vivido partes de ella. Hormozi lo resolvió nombrando subject matter experts: este es mi experto en ventas, este en retención, este en marketing. Así los clientes identifican a cada uno como experto de su área concreta y no necesitas un sustituto global del fundador.
A lot of people think that when they're going to replace themselves, they need to find one person to replace them. But finding another human being who has lived your exact life is impossible, but it's much easier to find two or three people or five people who've lived portions of your life in different areas so that together, we're going to make this look even weirder. You have a hydra of people who can deliver value to the customer. Now, here's how we did it. I started edifying different people. Now, how I did it was we call them subject matter experts. So I found people really good at one…
Escúchalo en el minuto 16:55
Las nueve C de los ingresos recurrentes empiezan por consumo y colateral
Retención y relación con el clienteHormozi lista nueve palancas para que alguien siga pagándote. La primera es el consumo: en el mundo de los gimnasios descubrió que casi todo el mundo está dispuesto a pagar una cuota que usa y casi nadie paga una que no usa. La segunda es el colateral: si tienes algo del cliente, como un trastero con sus cosas o un procesador de pagos con sus datos de tarjeta encriptados, le cuesta mucho más dejar de pagarte.
ways like buying Whole Foods to make money from their customers. But there are nine C's of recurring revenue. And when I think about this is like, how can I increase how sticky it is or how likely someone is to continue to pay me for whatever I have? Number one is consumption. Are they actually using the thing that they are paying for? Right? One of the interesting things I found out in the gym world is that almost everyone is willing to pay for a gym membership that they use. And almost no one is willing to pay anything for gym membership that they don't. The next is collateral. Think about…
Escúchalo en el minuto 34:14
Prueba para saber si tu operador suma: te da tiempo o te da tareas
Estrategia y decisiones de negocioSi después de que entre el operador tú tienes más tiempo y más ancho de banda, te está ayudando; si te llega con una lista de cosas nuevas que hacer que antes no hacías, probablemente te está perjudicando. La regla para juzgar cada sistema es local contra global: obligar a ventas a poner notas en el CRM da más trabajo a ese equipo pero quita trabajo al resto de la empresa. Un buen operador usa los mínimos sistemas…
If you feel like you have more time now and you have way more bandwidth, they have helped you. If they try to tell you to do all of these new things that you weren't doing before, they are arguably hurting you. So the way that you have to look at this as a business owner is the difference between local and global. Meaning if I tell the sales team that they have to put notes in the CRM, that actually increased how much stuff they do on a local level. But by them doing that, I decreased all the work in the rest of the company globally. And so if an operator comes in and says, everyone has to do…
Escúchalo en el minuto 6:56
El nivel de alguien se mide por la cantidad y calidad de métricas que sigue
Medición y experimentosHormozi dice que su mayor indicador al entrevistar es cuántas y qué métricas sigue el candidato. Un jefe de ventas que dice guiarse por el feeling y el ambiente del equipo suspende; uno que responde porcentaje de cierre y cash cobrado aprueba; el que enumera tasa de asistencia, porcentaje de ofertas hechas, tipos de objeción, número de llamadas para cerrar, cash como porcentaje del ticket, velocidad de contacto y…
are that nuanced. And that is my biggest indicator. If I'm interviewing for roles, by the way, of knowing if somebody is good or not. If I'm interviewing for a sales manager, for example, and I say, hey, you know, what metrics should you be tracking? He's like, I like to go by feel, you know, manage the vibe of the team. I'm like, that's not bad. That's fine. But like, what metrics do you track? And they're like, you know, closing percentage and, you know, cash collected. I'll be like, okay, cool. That's a great start. Versus I have a guy who comes on and says show rates. I like to count…
Escúchalo en el minuto 44:44
Medio punto de equity basta para atar a quien te sustituye
Estrategia y decisiones de negocioLa secuencia para salir de la entrega tiene cuatro pasos: repartir tu papel entre varias personas, edificar a cada una ante los clientes en su área, pasar de yo a yo más ellos y luego a solo ellos, y si están lo bastante arriba, darles una porción pequeña de equity. Pequeña significa medio punto o una décima de punto, no un 10%.
within the company. Number two is that you want to edify each of those people to the customers in their respective places. Number three is that you want to transition me lessen them and then eventually just them. And then number four, if they're high enough up, then you can consider giving them small slices. Now mind you, when I'm saying giving equity, I'm not saying like give 10%. I'm saying you can give a half a percent or 0.1%. These people said that they're still tied into the
Escúchalo en el minuto 19:19
Sin medición no sabes tu beneficio bruto de por vida, de dónde vienen los clientes ni tu coste por lead
Medición y experimentosEl seguimiento automático de métricas afecta a cuántos clientes consigues, al beneficio bruto de por vida por cliente y al riesgo del negocio. Si no mides, no sabes el beneficio bruto de por vida, ni de dónde vienen los clientes, ni qué porcentaje de la facturación aporta cada uno, ni tu coste por lead; y sin conocer lo básico no hay jugadas avanzadas ni forma de mejorarlo.
affects how many customers you get, lifetime gross profit per customer, and the risk associated with everything. Because if you don't have tracked metrics, you won't know what your lifetime gross profit is. You won't know where your customers are coming from, or what percentage of revenue each customer is worth, or what your cost per lead is. And so if you don't know what the basics are, then how can you make the advanced moves? If you don't even know what the basics are, how do you improve them? And so the first thing, if you want to do a gross business, is know what
Escúchalo en el minuto 43:28
Canales de adquisiciónHormozi supo por un empleado de la competencia que otra empresa de su nicho conseguía clientes solo por outbound, con un equipo de más de 30 personas llamando y escribiendo en frío. Le hizo la oferta a ese empleado con una condición: montar el departamento desde cero y él solo. Doce meses después el outbound era el 50% de los ingresos, y tener varias vías de captación repartidas a partes iguales fue lo que dio…
And so of course I was never getting cold calls from them because I'm not a gym owner. Right. But he had a team of 30 plus guys who were cold calling, cold emailing to get customers. And I was like, well, do you think you could build out the outbound system here? And he's like, yeah, I'm pretty confident. He's like, it would take me like, you know, some time, but I think I could do it. And I was like, all right, well, here's the deal. I'll give you the job offer, but you're going to start your own department and it'll just, just be you. And you're going to have to start everything from the…
Escúchalo en el minuto 22:16
Canales de adquisiciónHormozi supo por un empleado de la competencia que otra empresa de su nicho conseguía clientes solo por outbound, con un equipo de más de 30 personas llamando y escribiendo en frío. Le hizo la oferta a ese empleado con una condición: montar el departamento desde cero y él solo. Doce meses después el outbound era el 50% de los ingresos, y tener varias vías de captación repartidas a partes iguales fue lo que dio…
And so of course I was never getting cold calls from them because I'm not a gym owner. Right. But he had a team of 30 plus guys who were cold calling, cold emailing to get customers. And I was like, well, do you think you could build out the outbound system here? And he's like, yeah, I'm pretty confident. He's like, it would take me like, you know, some time, but I think I could do it. And I was like, all right, well, here's the deal. I'll give you the job offer, but you're going to start your own department and it'll just, just be you. And you're going to have to start everything from the…
Escúchalo en el minuto 22:16
Ningún cliente por encima del 20% de tus ingresos, e idealmente del 5%
Investigación de mercado y clienteLa regla es que ningún cliente supere el 20% de la facturación, y Hormozi prefiere que ninguno pase del 5%. El motivo con números: un cliente que representa el 20 o el 30% de los ingresos puede ser el 100% del beneficio, así que si se marcha no bajas un 20%, te quedas directamente en punto de equilibrio.
that we're trying to address here is what if one customer leaves? So let's say you've got $100, whatever. You can put whatever zeros you want on this. All right. This is your business today. And this is your profit. Cool. I told you that what if a whale is 30% of your business? Here's Mr. Whale. It's like a worm. Anyways, now if Mr. Whale leaves, so does your profit. And then all of a sudden, you're breaking even. So even though the customer was only 20% of your business, it might be 100% of your profit. And so if you can lose 100% of your profit by losing one customer, that's super risky…
Escúchalo en el minuto 39:23
Subir la asistencia a llamadas de 50% a 70% es una mejora del 40%, no del 20%
ConversiónEn una empresa del portafolio aplicaron una checklist de 22 acciones, muchas automatizadas, para subir la tasa de asistencia a llamadas del 50% al 70%: eso no son 20 puntos, es un 40% de mejora sobre el número original. En cierre, partiendo de 27%, una subida de 14 puntos equivale a un 50% más de ventas. Las mejoras hay que leerlas en relativo, no en puntos.
we have a huge checklist of like 22 things that we do. Many of them are automated that we can do to increase show rates and boom, 50 to 70%. Now you might think, Oh, that's a 20% improvement. That's not a 20% improvement. That's a 40% improvement on the original number. So like, wow, that contributed a lot here from close rate. We then started going through our drilling process to train closers and our scripting process so that we can get to the sale faster. So we can close a higher percentage of people. And that showed in the numbers. So from an improvement perspective, this was 14%, but 14%…
Escúchalo en el minuto 46:03
Mide el producto y la entrega con el mismo detalle con que mides la adquisición
Medición y experimentosMuchos fundadores buenos promocionando dicen que su producto es increíble, pero al preguntarles tiempo hasta el primer valor, churn u onboarding responden con la tasa de contracargos, que no dice nada de la calidad del producto. La regla: si sabes con detalle tu coste por impresión, tu coste por lead y tu tasa de conversión, debes tener el mismo nivel de matiz en la entrega, porque los que de verdad son buenos lo…
what's your time to value? What's your churn? What's your onboarding process? And I start collecting, you know, asking just for stats around product. And they're like, we have a low chargeback rate. And I'm like, that is not what a good product means. If I said, hey, what's your cost per impression? What's your cost per lead? What's your conversion rate? And they're like, oh, I got that, that, You need to be as in depth about your product and your delivery as you are about your acquisition. And if you know the quality and quantity of stats on the front end, you should be paired in terms of…
Escúchalo en el minuto 44:13
Tener suscripción no basta: si todos cancelan al cuarto mes vuelves a estancarte
Retención y relación con el clienteUna suscripción en la que todo el mundo cancela al cuarto mes solo desplaza la meseta: subes cuatro escalones y te quedas plano otra vez, porque cada cliente vale siempre lo mismo. Lo que hay que perseguir es net negative churn, que significa que aunque no captes ni un cliente nuevo este mes, ganes más dinero que el mes anterior.
And so one of the biggest breakthroughs that I had in my business career was understanding not that you should have a subscription and why it's not just about having a subscription. Because let's say you get a subscription, everyone cancels after the fourth month. So this is the fourth month. But every month after this, we're going to have the same revenue. So this is going to stay the same because they're all worth four months. So I'm going to stair step up to four months and then I'm going to plateau again. What you really want is something called net negative churn. That's a fancy word…
Escúchalo en el minuto 29:43
No hay balas de plata, hay muchos perdigones de oro
Medición y experimentosEl crecimiento es un juego de mejoras incrementales acumuladas: en acquisition.com no buscan una solución mágica, aplican una a una las 22 prácticas conocidas para subir la asistencia y la lista equivalente para el cierre. Como trabajan siempre con el mismo tipo de empresas, el siguiente paso siempre está claro y saben por evidencia que los números suben.
So one of the things that I have is no silver bullets, many golden babies. It's a game of incremental improvements for us at acquisition.com because we work with the same types of companies. We know what it takes to improve show rates. Like we have all the best practices and we just say, here's the 22 things we do. And we're going to implement all of them one by one. And that's the result with close rates. We're like, these are all the things that we have to do in the business. And one by one, we take them off. And so it becomes very clear what the next step is, because you know, if you do…
Escúchalo en el minuto 46:40
Un A player cuesta 25% más y produce cinco veces más
Estrategia y decisiones de negocioUn A player cuesta alrededor de un 25% más que un B player pero produce cinco veces más, así que pagar algo más por mucho más rendimiento es de las mejores inversiones del negocio. La contrapartida es que los A players saben lo que valen y negocian el sueldo al entrar: un CEO del portafolio estuvo a punto de descartar a una candidata por eso mismo y acabó siendo la mejor contratación que ha hecho nunca.
over time. So number three is that A players know their value. An A player costs 25% more than a B player, but A players produce five times more than B players. And so being willing to pay a little bit more to get way more value is one of the single best investments you can make in business. That being said, if you are bringing A players on, expect them to want more. Also expect some of them to negotiate pay. Some of the best people I've had have tried to negotiate pay when they came in. And that's okay. I actually had to have a conversation with one of our bigger portfolio CEOs because he…
Escúchalo en el minuto 11:09
Medición y experimentosUna de las mejores jugadas es pasar de un conglomerado de Google Sheets a integrar de verdad un CRM (Salesforce, HubSpot y similares) en el negocio; esas plataformas existen justamente para que una empresa pequeña se convierta en mediana. Vale la pena pagar bien porque quede bien implementado, para ver qué pasa en tiempo real y decidir en tiempo real.
So one of the best things you can do is switch from a big conglomeration of Google sheets to actually fully integrating some sort of CRM into your business. And this is where the things like Salesforce and HubSpot and some of these other platforms exist, is to help small businesses become medium-sized businesses. It's worth paying well to get it implemented in the business. So you know data of what's going on in real time. So you can make real-time decisions. Automated metric tracking
Escúchalo en el minuto 43:00
Marca y posicionamientoAl construir el relato de la empresa conviene atarlo a una tendencia vigente, hoy la IA, explicando o bien por qué no te afecta (una cadena de peluquerías siempre tendrá clientes) o bien que la estás abrazando hasta el extremo: un estudio de diseño puede decir que ya recortó plantilla un 50%, multiplicó por diez la productividad y ahora es más rentable y con más caja que antes.
you usually want to track the story to a trend, meaning like AI is a trend right now. Here's how AI will help us or how AI will not affect us is a great way to demonstrate a story around why somebody should expect to continue to see growth in the business. So like if I have a haircut chain, I could probably make a strong argument that people are going to still need to get their haircut. Now, if I'm in a design firm, I might have a harder time arguing that AI is going to not affect my business or flip side, I am going to try to put myself out of business and say, we're fully leaning into AI…
Escúchalo en el minuto 53:22
Esa sensación de no saber es el nombre de la función que te falta
Estrategia y decisiones de negocioUn CEO del portafolio, tras pasar de unos millones al año a unos millones al mes, se atascó diciendo que no sabía dónde iba el beneficio ni cuántos locales podía abrir. Hormozi le hizo grabarse el patrón: esa incertidumbre concreta es la falta de la función financiera, igual que no saber de dónde saldrá el próximo cliente es la falta de la función de marketing. La sensación te dice qué área todavía no existe.
feel this feeling right now. I was like, it's because you don't know, you don't recognize this pattern. And I want you to recognize it for the rest of your life, which is the feeling you have right now is a lack of finance. Like you don't have the finance function built out and you don't have the support of finance leaders because if you did, then you would know what percentage of cashflow you could put towards it and how many locations you could have given the growth rate that you want. But since you don't know that lack of knowledge, that feeling of uncertainty is because you don't have…
Escúchalo en el minuto 58:47
Investigación de mercado y clienteAceptar un cliente enorme son dos decisiones: si lo tomas, y si después vas a buscar más clientes como él o más pequeños. Solo tiene sentido montar infraestructura para un cliente gigante si es el primero de diez iguales; si ya definiste tu avatar y tu nicho, la ballena suele ser otra mujer de rojo que te distrae, y enfocarse consiste en decir que no.
So decision one is whether you take the whale on. Decision two is that if you take the whale on, are you going to then go get more minnows or are you going to go get more whales? Because it might make sense if you say, hey, strategically, I think it makes sense for us to go up market, go after higher value customers and have fewer of them. And so I'm willing to build this infrastructure for this one customer so that I can have 10 more of them. That makes sense. And so if you said, this is my business, this is my avatar, this is my niche, this is who I'm going after, then a big part of focus…
Escúchalo en el minuto 40:25
Medición y experimentosMientras más difícil sea recolectar y reportar la información, menos información se termina reportando, y con menos piezas sobre la mesa quedan menos elementos para decidir. Hormozi dice que le asombra lo poco que mide la mayoría de los negocios y que, en la práctica, están adivinando, que es una forma pésima de tomar decisiones.
then count manually how many people are doing X, Y, and Z, right? And the thing is, is that the more difficult it is to collect data and report on data, the less data you end up reporting on, which means that you have few and fewer pieces to make decisions off of. And so I'm often amazed by how little data is collected in most businesses, because I'm like, how are you making any decisions? And for the most part, the answer is they're just guessing, which is a terrible way to make decisions.
Escúchalo en el minuto 42:39
El valor de una empresa es clientes por beneficio de por vida, dividido entre riesgo
Estrategia y decisiones de negocioSolo tres variables mueven el valor de un negocio: el número de clientes, el beneficio bruto que deja cada cliente durante toda su vida como cliente, y el riesgo de que eso deje de ocurrir en el futuro. Si multiplicas por diez los clientes y todo lo demás sigue igual, multiplicas por diez el valor; y como el riesgo va dividiendo, bajarlo sube el valor igual que crecer.
buy a share of it. So there's only three variables that are really going to affect how much a company is going to be worth. One is increasing the number of customers. If all else remains the same, if you 10x the number of customers, you will 10x the value of the business, sometimes more. The next is something I call lifetime gross profit, which means the amount of profit that you generate from these customers over the lifetime of their stay with your business. And so if I want to make more money, I'll either have to get more customers or make them worth more. So then what's the third…
Escúchalo en el minuto 1:55
La prueba del dashboard: preguntar una cifra y que la contesten al instante
Medición y experimentosHormozi llama en vivo a su director de marca y le pregunta las cifras del lanzamiento del libro: responde 291.734 registros y 10.813 afiliados actualizados esa misma mañana. El punto es que solo puede contestar así quien tiene dashboards delante; sin ellos la respuesta sería mirar tres hojas de cálculo y contestar mañana.
right now for the book launch event? We have 291,734. Almost 292,000. That sounds nice. Thank you, guys. How many affiliates? How many people are promoting the book on our behalf? It's over 10,000. I think it's 10,800 and something. As of yesterday? As of this morning? As of this morning. Yeah, I can get it. So 10,800 as of this morning. All right. That's, you know, we're two hours away from that real time stat. So we'll... 10,813 to be exact. There you go. 10,813. Okay. Thanks, man. I appreciate you. So that idea is automated metric tracking. And so he would only be able to say that if he…
Escúchalo en el minuto 41:46
Un operador sin experiencia dejó la empresa nueve meses sin beneficio
Estrategia y decisiones de negocioEn una empresa del portafolio el dueño puso de operador a un conocido que solo había llevado negocios pequeños: metió gente sin subir los ingresos, se comió todo el beneficio y la empresa estuvo nueve meses en punto de equilibrio, cuando antes era muy rentable. En la otra empresa entró un operador con recorrido y no solo mantuvo el ritmo de crecimiento, sino que amplió el margen mucho más rápido, hasta dedicar un…
which then basically ate up all of the profit in the business. And this business was not profitable for nine months. It literally just broke even for nine months. And this was a very profitable business prior to this. In this scenario, with the more seasoned operator, this business continued to grow at the same pace, but the profitability increase expanded at a dramatically faster rate with this new person in there. And so they even had a period where he said, Hey, I think we should just focus for this entire quarter on making all of our locations just more profitable. We don't even need to…
Escúchalo en el minuto 5:28
Tu contable trabaja para ti, por eso tu beneficio parece mayor de lo que es
Estrategia y decisiones de negocioMuchos fundadores creen que ganan más de lo que ganan porque su banquero o su contable trabajan para ellos y, por absurdo que suene, cuanto mejor pinta el beneficio más contento está el jefe. Unas cuentas listas para auditoría, revisadas por un tercero que calcula el beneficio por su cuenta y llega al mismo número, son el sello azul que valida ante un inversor que la cifra es real.
If you have an audit-ready financial, it means that a third party will come in and go through all your numbers. They will calculate their own measure of profit and it matches yours. If that's the case, then you have audit-ready financials. A lot of times founders think that their profit is a lot higher than it really is. Their banker or their accountant oftentimes works for them. And as crazy as it sounds, if you make the profit look better for the founder, they are happier with you. Having a third party or making books that are third-party ready for audit and getting something called a…
Escúchalo en el minuto 55:56
Sesenta mil dólares y seis meses antes de la primera venta pueden salir a cuenta
Medición y experimentosEjemplo numérico de Hormozi: si un canal nuevo cuesta 10.000 dólares al mes y tardas seis meses en cerrar la primera venta de 1.000 dólares, llevas 60.000 gastados y ninguna venta. Pero una vez ajustado, al mes siguiente puedes meter 30.000 y sacar 300.000, un 10 a 1 que ya devuelve cinco veces la inversión inicial. La forma de verlo es que estás fabricando una máquina de imprimir dinero: cuesta tiempo y dinero…
at that, you might think, wow, this took two months and we didn't even make any sales. But think about it this way. Let's say it costs you $10,000 a month to invest in a new way to get customers. And it takes you six months to make your first sale. Let's say a sale is worth $1,000. Well, that costs $60,000. But when you do get that first sale, you got a 10 to one return on that. Once you got all the tweaks done. Well, in that next month, you could spend 30 grand and make 300 and get 5X on your initial investment. Think about this as investing in a machine that prints money. Of
Escúchalo en el minuto 25:59
Estrategia y decisiones de negocioAunque Netflix cotice a 44 veces beneficios y Microsoft a 29, un dueño de negocio pequeño que factura menos de 10 millones al año está mirando de forma realista entre una y cuatro veces beneficio. El múltiplo sube cuando pasas de 10 millones de facturación y 2 millones de beneficio anual, y depende de cuántas de las casillas de riesgo tengas marcadas.
so high. But when us as business owners, you're probably not going to be in any one of these scenarios. Realistically, you're probably looking at one to four times earnings. If you're a small business owner that's doing less than 10 million a year, if you're doing over 10 million a year and over $2 million a year in profit, then sometimes that multiple can move up. Again, it depends on some of the other factors we're talking about today, which is when you check all the boxes,
Escúchalo en el minuto 32:54
Estrategia y decisiones de negocioEn la cadena de blanqueamiento dental que compraron, abrir un estudio cuesta poco frente al beneficio que genera: el local se paga en unos dos meses, lo que permite componer seis veces en un año con el dinero de una sola unidad. Con 32 locales, esa aritmética es lo que explica que crecieran tan rápido, y ese arbitraje es lo que da retornos sobre capital muy superiores a la bolsa.
playbook, but it doesn't cost a ton of money to open a teeth whitening studio relative to the amount of profit that they kick off. And so because of that arbitrage, we get really good returns on capital, meaning instead of investing in the stock market and putting, you know, a hundred dollars in and getting $10 back, I could put a hundred dollars in here. And because of also how quickly they become profitable, like how quickly can I pay off a new location? Well, I could pay off a location in two months. Okay. Well then that means that I can compound six times in one year off of one location…
Escúchalo en el minuto 52:36
Se cuentan los casos HubSpot pero no el cementerio de los que aguantaron siete años sin caja
Estrategia y decisiones de negocioSe oyen las historias de Netflix y HubSpot, empresas valiosas sin ser rentables, pero no se ve el cementerio de las muchas que pasaron seis o siete años sin generar caja, nunca llegaron a ser HubSpot y dejaron al fundador sin sueldo y sin nada. El 99% de los dueños de negocio no están respaldados por capital riesgo: son autofinanciados o con dinero de amigos y familia, y tienen una vida que sostener.
billions of dollars. I also try to cater my content to my audience, which is 99% of business owners aren't Netflix or aren't HubSpot or aren't venture backed with tons of money that are hyper scaling. Most of them are like us are self-funded in one way or another, or have friends and family who invested in their business to help them grow. And those people have lives. And I will say this is that we hear all of the Netflix stories and the HubSpot stories, but we don't see the graveyard of the many others that didn't make any cashflow for six years, seven years, and then never quite became…
Escúchalo en el minuto 49:51
Estrategia y decisiones de negocioHormozi llevó Gym Launch de cero a 4,4 millones de dólares al mes en 20 meses, y el negocio se le hizo tan insoportable que su mujer le propuso cerrarlo. Cuando preguntó a un amigo banquero de inversión si podría venderlo, la respuesta fue que no en ese momento: había un montón de cosas que arreglar antes de que un inversor institucional pusiera el dinero de una salida real. Facturar mucho y tener un activo vendible…
here's the crazy part. We went from $0 to $4.4 million per month in 20 months. And it also sucked. And that's what people won't tell you. It got so bad that Layla and I, my wife, were walking one day and she says, let's just shut this thing down. And I was like, wait, hold on. This might be worth something. So I called an investment banking friend of mine and I said, Hey, if I were to sell my business, like, do you think I could get anything for it? And he's like, Oh, I was like, wow, that sounds amazing. He said, wait, but not right now. There's a ton of things wrong with it that you'd have…
Escúchalo en el minuto 0:39
Estrategia y decisiones de negocioLa mayoría de inversores institucionales no compran empresas con menos de cinco millones de dólares de EBITDA, sobre todo porque para llegar a ese beneficio ya hace falta un equipo directivo profesional capaz de operar sin el dueño. Es un requisito de tamaño: quien maneja mil millones no analizará un negocio de un millón porque el tiempo de análisis no le compensa.
in EBITDA. Damn it. The reason that this particular number is important is that most institutional investors do not want to buy companies that are smaller than this. And that's usually because to get to 5 million plus in EBITDA and EBITDA is just a fancy word for profit for the sake of our, of our video today, because usually to get 5 million plus in EBITDA, you do have a professional management team. It's not common to have a company that is doing that kind of profit and doesn't have a true management team that can run without the owner. This is more of a volume or size requirement.
Escúchalo en el minuto 59:33
A los dos años el beneficio se multiplica por 4,7 y la valoración pasa de 6 a 63 millones
Estrategia y decisiones de negocioA veinticuatro meses la media del portafolio sube a 2,8 veces los ingresos y 4,7 veces el beneficio: una empresa que ganaba 2 millones llega a 9,4 millones de EBITDA. Si valía 6 millones al entrar y dos años después cotiza a siete veces beneficio, vale 63 millones. Ese es el tamaño real del valor que se desbloquea tapando los agujeros del negocio.
first 24 months, so two years, the average revenue increase goes to 2.8X on average and the average profit increase is 4.7X on average. That $2 million profit company becomes a $9.4 million EBIT of business. Think about the value difference here. Maybe it was worth $6 million when we came into it. Two years later, at nine, let's say it trades at seven. So that would be worth $63 million. That is
Escúchalo en el minuto 1:02:12
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