How I Made $35,000,000+ For My Companies Using One Sales Tactic

Summary

• I realized the potential of supplement sales after running into an old college acquaintance who was successfully selling them.
• Despite initially struggling to sell supplements at my gym, I learned the power of the assumed close.
• The shift came when instead of asking a client if she wanted to buy supplements, I asked which flavor she preferred, leading to my first successful supplement sale.
• The assumed close is a powerful upselling technique where the customer is presented with options that both result in a purchase.
• By offering two choices, customers are more inclined to buy since it's structured as an either/or scenario rather than a yes/no.
• This tactic significantly increases the closing ratio, sometimes allowing for a 90-95% upsell success rate.
• Selling to someone who already knows and trusts you as part of an upsell is much easier and more profitable.
• Integrating the upsell into the sales process by making it a seamless part of the offering can transform profits.
• The profits from supplement sales ended up matching or exceeding the revenue from my gym services.
• Upsells can cover customer acquisition costs, turning what was once revenue into pure profit.
• I taught this sales technique to other gym facilities and utilized it for selling Prestige Labs supplements, greatly benefiting their business.
• Consider what additional items a customer might naturally purchase as part of their journey and integrate these as upsell options.
• Find complementary products or services that align with your main offering and present them as an either/or choice during the sales process.
• Strategic upsells not only generate additional profit but can also offset the entire customer acquisition cost.
• This approach to sales and customer psychology had a significant impact on my business success.

Video

How To Take Action

I would suggest thinking about what your customers might need after they buy your main product or service. Then, find items that fit with what you're already selling. For example, if you run a gym, sell them supplements because they're already interested in health and fitness.

It’s really simple. Give your customers two choices that both end in a sale. It’s not about if they will buy, but which one they will buy. Are they going to get the chocolate or the vanilla protein powder? It's this easy question that can make a big difference. This way, they're more likely to say yes because they’re just picking an option, not deciding to spend more money.

Upselling like this is a great move because people trust you already. They bought your main thing, so it's easier for them to buy a little more. And when they do, sometimes you can cover all the money you spent to get them as a customer in the first place. That’s huge because now you're making more profit with each sale.

So pick something extra to sell that makes sense with what you offer. Like, if they signed up for workout classes, maybe they want cool workout clothes or a meal plan. Make that extra thing part of your talk with the customer. Don't ask if they want it; ask which one they prefer. Many will choose one, and that's good for your business.

By doing this, I made just as much from selling supplements as I did from my gym services. It really changed everything. So try it out. Think about your business, what extra value you can give, and then just make it a simple choice for your customers.

Quotes by Alex Hormozi

"If this guy can do this, I'm gonna find a way"

– Alex Hormozi

"I didn't talk at all about what these even did or how to take them, I just simply asked her which one she wanted"

– Alex Hormozi

"The key was I didn't ask her whether she wanted them, I asked her which one she wanted"

– Alex Hormozi

"The beauty of an assumed close is that the prospect is choosing between two options that both are buying from you rather than whether or not they're going to purchase"

– Alex Hormozi

"This assumed close rapidly transformed our business"

– Alex Hormozi

Full Transcript

so when i was at my own gym back in the day probably eight years ago um i was really struggling right and i was traveling to come back home or something and during a layover i saw this guy that i used to go to college with and he uh he was i didn't think this guy was like that much smarter than me and like definitely like i was in some classes i was like i don't think this guy's that bright and he sits down next to me and he says uh he's like oh how's your gym i heard you got a gym and i was like oh you know it's going well i was like trying to be cool and he's like yeah i've got this supplement store um and i was like oh that's awesome he's like well i've got two locations now i was like oh well fancy you um and i said well what do you guys do like a month he says i don't know we do like 70 80 000 a month and i was like in supplements he was like yeah and at that moment it was like my mind broke i was like if this guy can do this i'm gonna find a way like i was like i've got this whole gym full of people and i don't sell them supplements and so when i came back i was like 100 committed to selling supplements i was like i'm going to figure out how to do this and every single client would walk into my facility after i would sell them our service package i was like hey buy these supplements right uh and they were like no i'm not going to and uh it felt horrible and i literally just again and again and again i just kept getting beat up and i bought all this inventory after i talked to that guy and so this cash is just sitting on my shelf and i was like i have to find a way to move this stuff and so one day i think i had 15 or 20 consultation sites i had sold a bunch of people into a new program that was starting and i was doing all the 101 orientations that was probably like 15 orientations deep and i just headed no after no after no after no and finally i was sitting down and this nice lady walked in and she had like a nice ring and a nice purse and i was like okay if i don't sell this woman i'm going to kill myself and so and she was like super upbeat and anybody who's ever done sales like you know when you see that person you're like i'm definitely closing this one like i have to close this one like this is how i pay my bills and so she sits down and i remember getting to the end of the presentation and i just said instead of my normal pitch around like hypertrophy and maintaining body mass and just a whole bunch of jargon that she would never even understand i said hey uh so with the program i was like do you want to do uh you want chocolate or vanilla for your protein and she was like which one do you like i was like chocolate she was like all right i'll take one of those and i was like i didn't want to scare her away so i was like uh i've got uh for the pre-workout do you want to do kiwi or strawberry i i like the kiwi she was like okay i'll do that one and i didn't want to sell any more because i was afraid that she would somehow back out and so and i didn't want her to like make any other purchasing decisions so i said do you want to just use the card you have them file and she was like yeah that's fine and then i took these off the shelf and i and i slid them over to her and she grabbed them and she smiled and she walked out of the facility and i made my first supplement sale and i was like holy i didn't even talk at all about what these even did or how to take them or what the benefits were i just simply asked her which one she wanted and the key was i didn't ask her whether she wanted them i asked her which one she wanted and as soon as i realized that that is when i was introduced to the assumed close all right it is one of the strongest upsells in all of business all right like i can't tell you whenever whenever i hear someone if there's every sales process that generates tons and tons of traffic and they're closing anywhere in the 80 plus range i usually know that it's an upsell all right and the beauty of an assumed close is that the prospect is choosing between two options that both are buying from you rather than whether or not they're going to purchase and so the beauty is if you can construct your conversations in a way that makes the sale seamless and make it assume that they're going to have this extra thing with your program you can immediately upsell a big big big percentage of customers whereas maybe normally you might close one out of three or one out of four or if you're really good one out of two of customers who walk in the door with an assumed close as an upsell you can sell nine out of ten nine and a half out of ten of the people that you sit in front of and you can close them at higher tickets at higher percentages and part of the reason is because in an upsell opportunity you're selling to a customer who already knows and trusts you right and if you pair the fact that they already know and trust you with the fact that you already have a purchase that's already happened you have their their information on file and then you simply present them with an either or option that both include buying you will typically get a huge percentage to take that option and so um this this assumed closed rapidly transformed our business i ended up making just as much if not more from the supplement sales in profit than i did for my actual facility uh it became a staple in all the locations that i had i was able to cover all of my advertising spends simply from the upsells and so that took all of what used to be my service revenue and just turned that into profit because i could cover all my acquisition costs simply with the upsells um i taught this to all of the facilities that we had and they ultimately use that for selling prestige labs which is the brand of supplements that we have that pays really really high margins for gyms and so that single experience where that lady bless her soul just said yes to the either or option is what significantly changed a huge part of my life and so anyways i hope uh you take something from that i hope there's there's something you can look in terms of your sales process in terms of something you could upsell it doesn't have to be a product it can be a service um it could be you know it can obviously be any kind of retail stuff physical products is really easy because you already sold service so a next that you want to think about what's the next natural thing that they're going to want to need or want or going to have to normally buy on their journey and if you're like i don't know how to find something like that you just simply look at what the normal things that a normal that a customer will buy in addition to your services as a result of the decision you know fitness is an easy one people go buy clothing uh fitness clothes they buy shoes they might buy some at-home stuff they might start downloading some apps they might get different groceries uh so that's food or food prepping food prep materials a crock pot like all of those things are things that be accompanied then obviously supplements and so a lot of times when a consumer makes a decision to work with you on a service side there's other additional purchases that they're going to make and if you can if you can if you can predict what those are which you should know and weave those into your sales process as an either or decision you will usually get a very big percentage to uptake and a lot of times those upsells can be all profit for you and even offset the entire cost of acquisition of getting a new customer so i can't even stress how how impactful this was in my life and so anyways i hope you found that valuable hope that was cool if you like this stuff you know like subscribe all that kind of jazz um and i think i've got some trainings that you can go through for free and go click do that and uh [Music] [Music] [Applause] you