How I Develop Frameworks

Summary

• When analyzing what makes content successful, I've found it helpful to look for common elements. I did this by watching 35 of my YouTube video intros and noting down what was consistent.

• To retain customers effectively in my gym business, I identified common practices among successful gyms. I asked those with less than 3% monthly churn over 6-8 months to share their strategies.

• I interviewed 20 gyms and found they were all doing about 20 different things to retain customers, but only five techniques were common across all successful gyms.

• These five common practices became known as the "Five Horsemen of Retention." This framework helped us dramatically improve customer retention.

• To solve problems, gather extensive data, identify commonalities, and create frameworks based on those patterns. This method yields actionable insights and effective solutions.

• Using common elements from successful examples can help in creating more reliable and replicable results in any field.

Video

How To Take Action

I would suggest implementing some straightforward, low-cost, and high-value strategies to boost your business or personal growth.

Identify Common Elements

• Analyze Success Patterns: Look at the most successful pieces of content or strategies. What do your top-performing videos, posts, or products have in common? Write down the common elements.
• Emulate and Improve: Use these common elements as the foundation for new content or strategies. This doesn't cost anything but time and can yield high returns.

Understand Customer Retention

• Learn from the Best: If you have a business, find out what top performers in your industry are doing to retain customers. This could be through interviews, surveys, or industry research.
• Spot Common Techniques: Identify the key techniques that all successful businesses are using. Focus your efforts on implementing these practices.
• Create a Retention Framework: Develop a simple, actionable plan based on these techniques. This can become your own "Five Horsemen of Retention," tailored to your unique business needs.

Gather Extensive Data

• Data Collection: Start by gathering as much relevant data as you can. This involves customer feedback, sales data, or content performance metrics.
• Identify Patterns: Look for commonalities in the data. This could be in customer feedback themes, sales trends, or performance spikes.
• Implement Based on Insights: Create frameworks or strategies based on these patterns. This targeted approach is often inexpensive but can significantly improve outcomes.

Focusing on these strategies can help you make significant improvements without a large investment of money or time. These methods are simple to apply and can lead to reliable and replicable results.

Quotes by Alex Hormozi

"You drink in a ton of data"

– Alex Hormozi

"Where are the commonalities"

– Alex Hormozi

"Who here has less than 3% monthly turn"

– Alex Hormozi

"This one had seven things this one had two things"

– Alex Hormozi

"Tell me every single thing you do to retain customers"

– Alex Hormozi

Full Transcript

so I watched 35 of my YouTube videos the intros and then I was like okay what are all the things that happened to each one of them so I wrote them all down and then I was like okay well this one had five things this one had seven things this one had two things okay well what did they all have in common well they all had these three things and so this was the same thing when we had um gym launch I didn't know how to retain customers and what we did to solve that problem was that I got my customer base I said who here has less than 3% monthly turn for 6 or eight months and so there are 20 gyms that had that out of however many thousand and so I got them on a call and I said okay tell me every single thing you do to retain customers and each one of them had 20 plus things that they were doing but when I interviewed all of them all 20 of them were only doing five things in common and those became the five Horsemen retention which is became the framework for how we retain customers in a gym you drink in a ton of data you get everything and then you Circle where are the commonalities