The Business Needs EVERYTHING

Summary

• In business, you have to know and handle every core function. This includes letting people know about your offer, making the offer, delivering the product, and ensuring there's profit left over.
• Think of a business like a car. Even if you have great wheels and an awesome engine, the car won't go anywhere without a crucial component like a spoke. Similarly, you need every core function in a business to work properly.
• It’s not just about rounding out weaknesses; it’s about ensuring all essential parts are in place. Missing a key element means the business won't operate effectively.
• Once the essential parts are covered, anything else added is just an enhancer, making the business run better or more efficiently, but it's not essential for the basic operation.

Video

How To Take Action

I would suggest implementing strategies that focus on getting every core part of your business functioning properly. Here's a step-by-step plan:

1. Let People Know About Your Offer

Focus on simple, low-cost marketing methods. Use social media platforms like Facebook, Instagram, or LinkedIn to spread the word. Post regularly and engage with followers to create awareness. If you have a small budget, consider targeted ads.

2. Create a Compelling Offer

Make sure your offer is clear and appealing. Write down what makes your product or service special. Create eye-catching and easy-to-understand presentations, whether it’s a simple flyer, a post, or a landing page on your website.

3. Seamless Delivery

Ensure you can actually deliver what you promise. For physical products, double-check your supply chain and delivery methods. For services, make sure you have the time and resources to meet client expectations.

4. Profit Calculation

Track your expenses and earnings. Use basic tools like spreadsheets or free accounting software to monitor costs and revenues. Make sure that after all expenses, you still have money left over, which is your profit.

5. Identify the Missing Pieces

Look at your operations. Identify any core functions you might be missing. Are you great at marketing but struggling with delivery? Find simple and cost-effective solutions, like outsourcing specific tasks or learning new skills through free online resources.

6. Enhance Once Basics are Covered

Once every essential part is running smoothly, then think about enhancements. This could be better software, more advanced marketing techniques, or new product features. Remember, these are just to make things better, not to fix core issues.

This approach ensures that you handle every core business function before looking at optional improvements. This way, your business works smoothly and efficiently right from the basics.

Quotes by Alex Hormozi

"The business requires all the things"

– Alex Hormozi

"You need to let people know about your stuff"

– Alex Hormozi

"You need to make an offer to them that they can exchange money for"

– Alex Hormozi

"And then there needs to be money left over"

– Alex Hormozi

"Everything that is core to getting that dollar across you must learn"

– Alex Hormozi

Full Transcript

there's kind of these two schools they're like you know round yourself out and then there's double down in your strength and you're like which do I do the business requires all the things so you have to have every function of the business you need to let people know about your stuff you need to make an offer to them that they can exchange money for in general and then you have to deliver the thing that you just got money for and then there needs to be money left over and then that money you call profit fundamentally that's what it is all of those things have to occur and so if this is a car it's like okay so I've got great wheels and I've got an awesome engine and I've got a chassis but I don't have a spoke that connects the wheels it's not like oh wow I have to round out that weakness no the car is not going to go anywhere everything that is core to getting that dollar across you must learn or have somebody who knows how to do it the business requires that or you will not transact beyond that point everything is just enhancers everything is more or it's better