I Have Never Made a Business Plan
Summary
- I've never created a business plan; I focus on costs, potential prices, and if people want to buy what I'm offering.
- Overcomplicating business should be avoided; it essentially involves providing a service or product for a premium.
- To run a successful business, you should offer something that saves customers time or effort and charge for it based on the skill or time they lack.
- For products, understand the cost, buy in bulk to save, set a markup, and sell—that's the essence of business.
Video
How To Take Action
To start a business, you don't need a complicated plan. Here's what to do:
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Find Your Costs: First, figure out how much your product or service will cost to make or provide.
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Set Your Price: Think about how much you can charge for it. Don't sell yourself short—your time and skills are valuable!
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Test the Market: Let people know about your product or service and see if they're interested. If they want to buy, you're on the right track.
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Keep It Simple: Remember, business is about giving something to someone that saves them time or effort. If you can do that, you're golden.
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Buy Smart: If you're selling products, try to buy your materials in bulk to cut costs. Who doesn't love saving money, right?
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Markup for Profit: Decide how much more you'll charge than what it costs you. This is your profit and it's important for your business to succeed.
- Sell Your Heart Out: Finally, get out there and sell! Talk to people, share what you're offering, and show them how it can help them.
Stick to these steps, and you'll have a business that can grow without needing a fancy plan or a lot of cash to start. Just focus on what you're good at and make sure you get paid for it!
Quotes by Alex Hormozi
"I have never made a business plan in my entire life"
– Alex Hormozi
"This cost this much I think I could charge this much let me see if I can let people know about it and if they want to buy it that's it"
– Alex Hormozi
"You just sell something to someone and that means you're in business"
– Alex Hormozi
"A lot of people really over complicate it"
– Alex Hormozi
"You have a service you do something that saves someone time or effort and you charge them a premium on your time in order to do it"
– Alex Hormozi
Full Transcript
I have never made a business plan in my entire life I just know like okay well this cost this much I think I could charge this much let me see if I can let people know about it and if they want to buy it that's it you just sell something to someone and that means you're in business a lot of people really over complicate it it's like you have a service you do something that saves someone time or effort and you charge them a premium on your time in order to do it because you have some skill that they don't or some time that they don't or you have some sort of product that you developed you know what it costs you buy a little bit more in bulk so you save and then you have a markup and you sell it that's all it is
