How to Sell So That People Feel STUPID Not to Buy? [$100 MILLION OFFERS -Alex Hormozi]

I recently read a book titled 100 million dollar offers how to make offers so good people feel stupid saying no by Alex hermosi

this is a type of book that if you apply correctly you can sell and earn so much money that even your parents will start questioning if what you are doing is legal or not

I know the title of the book and the claim it makes is quite bold and I myself was skeptical at first but I was positively surprised at the End by the amount of valuable

information I learned currently the book has over 9400 reviews with a 4.9 star rating this rating alone should tell you

something about it so let's get started I have four big takeaways and because of that this video is divided into four parts number one your product number two

your market number three your prices number four and finally your offer part one your product if you're an entrepreneur you probably

know that the two main problems most entrepreneurs face are one not enough clients two not enough profit left at the end of the month most entrepreneurs try to fix these

problems by bringing their prices down what they think is if my product is cheaper than the competitor's products people will buy from me and not from

them this entrepreneur is not wrong but this is only true for a certain kind of product a commodity product a commodity is a product available from

many places in a similar quality think fruits and vegetables for example except for some small differences an apple is an apple it doesn't matter which grocery store you buy it from the problem is

that when selling commodities you are forced to sell them cheaper to stay competitive if the client sees a cheaper Apple they swap providers so you have a dilemma lose the clients or stay

competitive by lowering your price even more if you have a commodity offer you will compete on price instead of value that's the reason you should stay away

from it and you should also avoid being commoditized which means you should avoid allowing your product or service to become just one more you need to have

a differentiated product I'll give you a very simple example of what a commodity service and a differentiated service look like a common service I'm offering you an

online weight loss coaching service I charge a thousand dollars down plus five hundred dollars a month for returning consultations B differentiated service I'm offering

you an online weight loss coaching service you'll pay one time no recurring fee only pay me if you see results I guarantee you'll lose five kilograms in

your first month or you get your next month free I'll also provide a personalized exercise program based on your goals and an app to help you shop cook and eat healthier I'll be available

for returning consultations at all times if you are a customer trying to decide which offer to accept what will it be a or b I'm sure you'll choose B

you might be thinking but how can I offer all that I will work all the time and still go bankrupt just be patient we'll get there for now remember this if your product is

like nothing else on the market it'll be difficult to compare prices which means your prospect is now forced to think in terms of value not price it's like you're selling in a vacuum the

purchasing decision for the prospect is between your product and nothing because nothing compares to your product so to summarize part one never compete on price and avoid being commoditized

focus on creating a differentiated product in the remaining parts of this video I will explain how to do that part two your Market let's suppose I've come up with a

perfect offer to help people lose weight it's an irresistible product but when I launch my product instead of going to a gym I go to a kindergarten classroom how interested in my offer do you think the

toddlers will be this shows the importance of selling your product to the right Market I might be the best thriller author that ever existed if you only read romance you

won't buy my books no matter how interesting my offer sounds there's a market out there in desperate need of your unique abilities how do you find it

here are four indicators that can help you number one look for pain let me explain it this way if the person has a headache which one do you think is easier to sell him a painkiller or a

vitamin C vitamin C is something probably he wants in order to have a healthy body in the future but a painkiller is something he needs right now

in the same way your Market must not want what you are offering they must need it when people hear the solution to their pain and what their life would look like without this pain they will be

drawn to your solution if you can accurately articulate the pain a customers feeling they will almost always buy what you are offering number two look for purchasing power

even if you find a perfect system for helping people improve their resumes to get more job interviews you'll have a hard time selling your product for a higher price because the customers you choose are all unemployed your audience

needs to be able to afford your service at the prices you require to make it worth your time still want to sell your resume improving system you can but don't make it your main business

save it for your charity businesses instead one personal example about the importance of purchasing power a few months ago in one of my videos I promoted a course from Dr Joe dispenza which I personally took and liked I

recommended the same course on two different channels that are in two different languages at that time one channel had 1.1 million subscribers and another one had only 150 000 subscribers

in both channels the video in which I mentioned the course performed quite well and in both channels I have quite loyal and supportive subscribers but how many people actually bought the course

here are the results 107 people bought the course from the small channel how many people do you think bought it from the big Channel with 1.1 million

subscribers ready for the answer zero do you know why because the course was around 300 and most of the subscribers of the big Channel come from low income countries

for many of them three hundred dollars is their monthly income so they don't have the purchasing power for such a course so to conclude you might have a great product in a very large Market but if

they don't have the purchasing power for what you are selling the game is over number three look for a market that's easy to Target if you have a perfect Market but no way of finding the people

in it you can't sell to them where is your customer make sure you can find them on mailing lists social media groups channels they watch Etc

number four find a market that is growing a simple example of a growing Market can be a business based on social media such as YouTube and an example of a Dying Market can be a business based on the

newspaper Market when a market grows you grow with it and if a market is shrinking you'll shrink with it no matter how good you are at what you do there are three main markets

that will always exist health wealth and relationships the reason is that these are very painful when you lack them so if you can find a smaller subgroup

within one of these larger markets that are growing has the purchasing power and is easy to Target then you've found your Market let me give you an example of a market that will cover all four

requirements we just discussed let's say you are targeting the long lasting relationships Market do you focus on 60 year old divorced men or on college

students well think about it lonely senior citizens are likely to suffer more pain for being alone have more buying power and are easy to Target also

there are more people turning 60 than 20 so it's a growing Market let's say you have found a market that has all four components we talked about what do you do next

this is the important point where many entrepreneurs go wrong they find a market and sell to everybody that is in that market if you sell to everybody you sell to

nobody you need to focus on a specific segment of the market in other words you need to focus on a specific Niche simply put Niche markets will make you more money because your product will be more

unique therefore there will be little to no competition for example there are many people selling time management courses fewer people selling time management for health professionals even

fewer people selling time management for nurses and even fewer selling for night shift nurses if you are a night shift nurse having trouble with time

management and you see that course offer you'll think this is made exactly for me once you find your Niche commit to it many people make the mistake of jumping

from one Niche to another thinking that the problem is in the niche but very often they just haven't been able to figure out how to make an irresistible offer changing niches is quite costly as

well because you need to start all over again before I move to part three and talk about the price let me summarize everything we covered in this part about Market number one make sure you choose the

right Market that has four key elements the market you choose must have pain purchasing power be easy to Target and finally it must be growing number two

don't focus on the entire Market find a niche and stick with it don't jump here and there part three your prices

charge so much it hurts Alex harmosi imagine I sell a digital course let's call it how to make money online the price for the course is five thousand dollars

would you be interested in buying it your answer is probably no maybe you think that the price is too high for a digital course you might even have concerns if it's worth it or not now let me try again

would you buy this course if you knew that you will start earning seven thousand dollars per month guaranteed [Music] the time required to start earning that much money is around 11 months the

amount of work you will need to do is three hours per day finally you don't pay for the course up front you pay me once you start earning money and seeing the results yourself

so would you now be interested in my five thousand dollar course now I don't have such a course but if I did I'm sure you would be interested the reason you weren't interested the first

time is that you could only see the price five thousand dollars you didn't see the value you were going to get in business those who understand the

value benefit the most in order to create a compelling offer you must understand the value the difference between price and value is this price is

what you pay value is what you get if the value you get is more than the price then you buy the moment value drops below the price the sale is

canceled it's very important that you understand the difference because the author is not talking about just blindly charging premium prices you will first need to

deliver value when you look at the price of a Prada bag maybe you don't understand why someone would pay so much for a handbag but the person who buys that product

thinks the value they're getting is worth the price whether it is quality Beauty durability status or any other personal reason it doesn't matter

there's an audience out there who swears by their products and that's the only kind of customers they want to sell for you might think that's going to reduce the number of customers who can buy from

me and you're right but keep in mind that every business's primary goal is not getting people to buy it's making money so remember you don't compete on

price you might sell for fewer people but you'll still make more money the thing most people don't realize is that you can only provide the most value if

you charge premium prices here's why when you raise your prices two important things happen number one you increase your clients emotional investment this

is important especially if you need the client's cooperation for example a therapy program needs an invested customer willing to do the work and go through a high level of discomfort

otherwise it will fail if your client pays a low price for that chances are they will give up more easily than if they pay a higher price also if they're more invested they'll

have better results number two finally when you increase your prices you are able to offer more quality because now you have money to improve your business it has a Snowball Effect you will be able to pay good

employees your employees will be happier better employees and better products result in an improved customer experience which allows you to scale your business and your brand so now you know you need to raise your

prices but to do that you need to offer value here's how to do it there are four variables that create value the author calls them the four drivers number one

dream outcome let's suppose you own a gym what's the desire that your customer has that you can help them fulfill remember you're not selling a gym membership you're selling weight loss

muscle definition and health you're not selling a flight you're selling the vacation experience you're not selling an English course you're selling a movie with no subtitles

your goal as a businessman is to make your customer feel understood in what they desire and explain how your product or service will get them there number two perceived likelihood of

achievement another word for this is certainty how certain is your prospect that they will achieve their dream outcome if they purchase your product or service they

need to look at your offer and think I'm sure this guy can help me for example when you buy your favorite chocolate how sure are you that you will love eating it very certain right

that's what you want your client to feel you want them to trust your product so much that they are 100 sure you'll help them three time delay this is the time

between a client buying and receiving the promised benefit how long will it take your client to achieve their dream outcome if they buy your product you want to decrease this time delay as much

as possible if you can if you're selling weight loss for example it will not be immediate to go around this time delay problem you can offer them short-term experiences that occur while they don't

get there for example as they begin to exercise they might feel more energized or relaxed make sure their experience is Pleasant enough to keep them in the game also keep in mind that people are

willing to pay significant prices for fast results compare the prices and speeds of traveling by bus and by airplane for example or Uber versus walking that's why Amazon has been

investing so much in their quick drone deliveries 4. effort and sacrifice

4. effort and sacrifice this is what it costs people to purchase your product in other costs that are not money going to the gym for example costs

money but it has other costs too maybe you have to wake up earlier to go there sometimes you'll feel sore it'll take you some of your time every day Etc when

you look at it from that angle it's easy to understand why liposuction is such a popular practice I'm not saying it's the healthiest or recommended way to lose weight but think about it how much time

and effort can you save if you go through liposuction instead of buying a gym membership humans will always search for the quickest easiest Solutions you can complain about it or you can use it to

make money the dream outcome and the perceived likelihood of achievement are the variables you'll seek to increase the time delay and the effort and sacrifice are the variables you'll seek to

decrease if you can always focus on the variables you need to decrease that's where the gold is the reason is that anyone can promise you'll lose weight but actually

making it happen in less time and with less effort than the competition is what can really get you to charge premium prices can you imagine how powerful and expensive it would be if a prospect

purchased your weight loss product and instantly saw their stomach turn into a six-pack how valuable would a product like that be infinitely valuable one final thought about value creation

when thinking about how to create value you need to focus on finding psychological Solutions there are two types of solutions logical and psychological for example making a

faster elevator is a logical solution adding mirrors to the elevator to keep people busy looking at themselves and forgetting about the time is a psychological solution making faster

trains is a logical solution putting a clock that shows when the train will arrive and how many minutes are left is a psychological solution most logical Solutions are tried and

many of them have failed plus they are very costly on the other hand psychological Solutions are cheaper to implement effective and there are many of them to be discovered

to summarize this part we discussed why you should charge a premium price and how it will allow you to do things for your clients that others can't remember you are not just charging a higher price

you are also delivering higher value it's important that your product is so good that even if you charge premium prices your client is still getting a

good deal in the next part I will explain how to do that part 4 your offer okay now you already know what you need a market with high enough demand for

your product or service a product or service that offers so much value your clients won't be able to say no a price so high that it gets your clients super invested

now it's time to finally create your offer step one identify dream outcome imagine your customer Avatar asking for your help as they State their dream outcome

what are they asking you for to create your offer you need to work with something impressive and desirable but also realistic because you'll need to make it happen

here are a few examples of dream outcomes make my first million dollars feel more beautiful impress my friends with my new car since we're pretending that we work with

gym clients for this example I'll go with lose 14 kilograms in seven weeks step number two list problems Now list each core thing that someone

has to do to achieve their dream outcome then think of all the reasons they wouldn't be able to do it be as detailed as you can for example to lose weight people

usually diet and exercise there are many obstacles in both these activities let's list some of them when dieting you might think buying healthy food is hard and

stressful I don't like most healthy food so I'll probably choose wrong it takes a lot of time to cook healthy food when going to the gym you might think I don't like wearing these clothes they're

too tight I feel self-conscious when these people stare at me I'll end up hurting myself as I exercise you'll find a lot more problems if you stop to think about it this is good news

the more problems you can find the more problems you can solve step number three solutions list now it's time to turn your list of problems into Solutions

to do that first simply add the words how to and then reverse each problem that you listed in the previous step for example I'll end up hurting myself as I

exercise becomes how not to get hurt as you exercise another example buying healthy food is hard and stressful becomes how to make

buying food easy and enjoyable one more it takes a lot of time to cook healthy food becomes how to cook healthy food quickly

do that process with every problem on your list what we are doing now is building a list of all the solutions we want to sell to our prospects these statements you came up with in

this step represent what you need to do in The Next Step you'll Define how to do it step number four create your Solutions delivery vehicles

now it's time to think about how to solve each of these problems you've identified pick a solution from the list you wrote in the previous step and think about how you can do that here's an

example problem buying healthy food is hard and stressful the solution you came up with how to make buying food easy and enjoyable how to do it you might offer you can go

shopping with your client to give them assistance and keep them company you can pair them with another client of yours so they can help each other and keep each other company you can buy their food for them and get

it delivered you can offer text support while they're shopping you can offer them a personalized shopping list every week as you can see this list goes on and on

because there are many possible ways you can solve one single problem you can think of group Solutions and one-on-one Solutions once you do this for all the problems you found you'll have a huge

list but you'll also notice that some of the solutions apply to more than one problem as you think of possibilities don't rule anything out just yet even if you don't want to do it or don't think it's

reasonable you might have some completely crazy and impractical Solutions there keep them for a while step number five trim and stack now finally we'll look at the cost of

providing these solutions to your business for example let's suppose you could move in with your client you would shop for them cook for them and be there when they exercise so they never get hurt do you think that solution would

increase the chances of your prospect losing weight it probably would but can you do that unfortunately it wouldn't make your business very scalable if you moved in with every

client you had this is a very high cost solution so now you'll classify Your solution into high cost and low cost and

also into high value and low value when you're done classifying the solutions start by removing the ones that are low value and high cost you don't need them

a low cost and low value solution is not good either but you can keep some of them handy in case you need extra bonuses someday what should remain now are high cost and

high value or low cost and high value Solutions many high cost and high value Solutions won't be practical for example the solution I've mentioned before moving in

with your client is probably a high value solution but at a very high cost too so with high cost and high value Solutions take one step back is there a

lesser version of this experience that you can deliver at scale keep taking one step back at a time until you arrive at something that you can realistically offer

what you are now left with is a handful of solutions that are low cost and high value the perfect ones many times they are digital because the cost of a

digital product is very small compared to a physical product ebooks software apps sheets these products take some time to be designed and crafted the first time but once you

have it done you'll have almost zero cost to deliver it to your next clients here's an example of a bundle you can use to make your offer based on our weight loss example problem buying

healthy food is hard and stressful solution how to buy healthy food fast easily cheaply name foolproof bargain grocery system short explanation it'll

save you hundreds of dollars per month on food and take less time than your current shopping routine delivery vehicle number one one-on-one nutrition

orientation where I explain how to use dot dot dot number two recorded grocery tour number three DIY grocery calculator

number four each plan comes with its own list for each week number five grocery buddy system number six pre-made grocery carts for delivery

this six item list is only aimed at helping your client with the shopping for groceries problem how about the cooking problem you'll have another similar bundle for that and

another one for exercising and so on can you see now how much value you're actually offering you'll make it impossible to not lose weight with the product service like this and your

customer will know that they will have a very small chance of failure because you thought of solutions for every single obstacle that could be in their way with a product like this you're absolutely

sure that what you're selling is a high value product that has no competition it's not comparable to anything else on the market and you'll never feel like you're a fraud for charging a premium price for it

this was a pretty long video with a lot of information I congratulate you if you made it to the end most people wouldn't even click on such videos I have one small request from you if you

introduce something valuable to someone they associate that value with you you probably have an entrepreneur friend who needs to hear the information we covered in this video share the video with that

friend thank you very much have a nice day