$100M Leads Audiobook Part 7 – Core Four on Steroids Ep 592



In this special edition of the $100 Million Dollar Leads audiobook podcast, Alex Hormozi unpacks the concept of "more better new" as a strategy to scale businesses and generate engaged leads. Hormozi challenges the notion of market saturation, using examples from entrepreneurs in the chiropractic and weight loss industries to illustrate the vast potential for growth beyond perceived limits. He emphasizes the importance of tracking metrics, diversifying advertising platforms, and creating content. The "core four" methods of advertising—warm reachouts, content posting, cold reachouts, and paid ads—are foundational, but Hormozi advises businesses to enhance these methods by doing more of what works, improving upon it, and then expanding into new areas. Testing and focusing on constraints are key to optimizing lead generation. Ultimately, Hormozi's "more better new" framework serves as a guide for businesses to exhaust current strategies before pursuing new opportunities for expansion and lead acquisition.

Summary Notes

Introduction to Core Four and More Better New

  • Discussing the concept of "Core Four" as the essential ways to let people know about one's business or products.
  • Introducing the "More Better New" strategy as an enhancement to the Core Four.
  • Highlighting the importance of these strategies in generating leads and increasing revenue.

"Today on this special edition 100 million dollar leads audiobook podcast collaboration Faux free. We're talking about core four on steroids. We concluded the core four, which is the only four ways that any one person can let another person know about their stuff. Today we talk about more better new."

The quote introduces the topic of the podcast, which is an advanced discussion on lead generation strategies, specifically the Core Four and the More Better New approach.

Entrepreneurial Challenges in Scaling Businesses

  • Entrepreneurs often hit a revenue wall, assuming market saturation.
  • There's a misconception about the potential to grow beyond a certain point, typically around $1-3 million per year.
  • The discussion emphasizes that there are always more leads available than one can imagine.

"Typically, they figured out how to get enough customers from one platform to get them to one to $3 million per year. It's still not completely predictable and they have their ups and downs, but they have the gist of what they need to do and have seen some success."

This quote explains a common scenario where entrepreneurs have found some success but believe they have reached the limit of their market potential.

Unlocking More Leads with More Better New

  • The More Better New framework is a method to unlock additional leads.
  • It involves reaching out to people who know you, creating free content, reaching out to new people, and running paid ads.
  • The framework reinforces the concept that there are more ways to generate leads than entrepreneurs often utilize.

"I've used a framework to unlock those leads over and over again, and now you can use it, too. How to get even more leads more better new first you reach out to people who know you."

This quote provides an overview of the More Better New framework, which is a systematic approach to expanding lead generation.

The 'More' Strategy

  • Encourages increasing the volume of current advertising efforts.
  • Doubling inputs like reachouts, content posting, and ad spend can significantly increase leads.
  • Introduces the "Rule of 100" as a method to guarantee more engaged leads.

"The next obvious thing you can do to get more engaged leads is more. A lot more. Crank up the volume to max capacity."

This quote emphasizes the strategy of scaling up existing marketing efforts to increase lead generation.

The Rule of 100

  • Commit to performing 100 primary actions every day for 100 days.
  • A promise that following this rule will result in more engaged leads.
  • The rule can be applied to each of the Core Four strategies.

"If you do 100 primary actions per day, and you do it for 100 days straight, you will get more engaged leads."

The quote is a commitment to the Rule of 100, which is presented as a reliable method to increase lead engagement through consistent effort.

Content Creation Strategy

  • Emphasize the importance of regular content creation on various platforms.
  • Suggest releasing at least one piece of content per day.
  • As proficiency increases, increase the frequency of posts.
  • Types of content include short and long videos, articles, podcasts, and infographics.

"Day making content release at least one per day on a platform."

This quote highlights the strategy of consistent daily content creation to maintain audience engagement and presence on the platform.

Cold Outreach Techniques

  • Implement cold outreach strategies to reach potential clients or customers.
  • Aim for 100 reachouts per day through various channels.
  • Use automation tools to manage the volume and expect lower response rates.
  • Channels for cold outreach include email, text, direct messaging, cold calls, and flyers.

"Cold reachouts 100 reachouts per day example primary actions email, text, direct message, cold call, flyers, et cetera."

The quote outlines the recommended volume and methods for cold outreach, emphasizing the importance of reaching out to a significant number of potential leads daily.

  • Allocate 100 minutes per day to creating and managing paid advertisements.
  • Follow the daily budget set in the paid ads chapter.
  • Focus on client-financed acquisition, where the client's initial investment funds the ongoing ad spend.
  • Aim for high-quality ads to generate more leads.

"Paid ads 100 minutes per day making paid ads example primary actions direct response media ads direct mail, seminar, podcast spots, et cetera."

This quote suggests dedicating a specific amount of time each day to the creation and optimization of paid advertising campaigns.

Split Testing for Ad Success

  • Top advertisers frequently split test their ads to find the most effective versions.
  • The best advertisers test their creative content eleven times more than others.
  • Success in advertising comes from testing and improving ads.
  • Scale only high-quality ads for profitability.

"Facebook reviewed the accounts of all advertisers on their platform. They found something curious the top zero 1% of advertisers split test eleven more times creative than everyone else."

The quote indicates that successful advertisers on Facebook engage in extensive split testing, which is a practice of running multiple variations of ads to determine which performs best.

Testing to Improve Conversion

  • Continuous testing is key to reducing Customer Acquisition Cost (CAC) and improving ad performance.
  • Identify and focus on constraints, which are stages in the customer journey where improvements can significantly boost results.
  • Small percentage improvements at the constraint can lead to substantial increases in leads.

"So you do more and more until it breaks. Then you make it better."

This quote emphasizes the iterative process of testing and improving advertising strategies to optimize performance and reduce costs.

Optimizing the Sales Funnel

  • Analyze each step of the sales process to identify where the most leads are dropping off.
  • Prioritize improving the biggest constraint for maximum impact on lead conversion.
  • Even small improvements at the constraint can result in a significant increase in leads.

"For example, if you have three steps in your process, let's say 30% opt in, aka give you their contact information, 5% apply and then 50% schedule."

This quote provides an example of analyzing a sales process to identify where the most significant drop-offs occur, which helps in prioritizing which step to improve first.

Structured Testing Schedule

  • Test one variable per week on each platform to isolate the impact of changes.
  • Keep a log of all tests to build on previous learnings.
  • If no improvement is seen after four tests, move on to the next constraint.
  • Focus on optimizing the steps at the beginning of the sales funnel first.

"Every Monday, we run one split test per platform. We give it a week, and then the next Monday we do three things."

This quote describes a systematic approach to testing, with a regular schedule and a process for evaluating and logging results to inform future tests.

Key Theme: Importance of Customer Contact Information

  • Obtaining customer contact information is crucial for business growth.
  • A significant portion of potential customers (30%) will provide their contact information.
  • Businesses tend to focus on the front-end elements of marketing that directly engage with customers.

30% will give you their contact information.

This quote highlights the percentage of customers likely to share their contact details, which is essential for follow-up marketing and sales efforts.

Key Theme: Marketing Constraints and Returns

  • Front-end marketing steps are usually the constraint but offer the largest returns for minimal improvements.
  • Key elements such as call-outs, value propositions, offers, calls to action (CTAs), landing pages, headlines, subheadlines, and images are critical.
  • The sequence of marketing elements should follow the customer's journey.

Those steps are usually the constraint. They have the largest return for the smallest improvements, the call out, the value elements, the offer, the CTA, the landing page, the headline, the sub headline, the image, et cetera.

This quote emphasizes the importance of optimizing front-end marketing elements, as they are the most significant constraints and provide the highest return on investment when improved.

Key Theme: Marketing Strategies for Different Business Sizes

  • For businesses making less than $1 million in profit, the focus should be on increasing volume (more).
  • Once a business exceeds $1 million in annual profit, improving quality (better) becomes the most cost-effective strategy.
  • The strategy progression for growing businesses should transition from "more, better, new" to "better, more, new."

I usually advise them to do more first. They haven't done enough volume for percentage changes to make a big difference. But once you cross a million in annual profit, making things better can be the lowest cost, highest return thing you do.

This quote advises smaller businesses to focus on increasing volume before refining quality, whereas larger businesses should prioritize improvements for better returns.

Key Theme: The Size of the Pie Fallacy

  • Many business owners mistakenly believe that their current market size is limited to the platforms and communities they operate in.
  • This misconception leads to the "size of the pie fallacy," where businesses assume the market is only as big as their immediate competitors.
  • The market is often much larger than perceived, and businesses can grow by targeting new market segments.

The market is, in fact much bigger than most assume.

This quote dispels the myth that the market size is restricted to the immediate competition, suggesting that there is potential for growth beyond the current perceived boundaries.

Key Theme: When to Pursue New Marketing Strategies

  • Businesses should consider new marketing strategies when the returns from existing strategies diminish.
  • Exploring new placements, platforms, and marketing activities can lead to more leads and business growth.
  • The order of trying new strategies should be based on the potential for lead generation with the least effort.

When to do new when the returns you get from doing more better are lower than what you could do from a new placement or new way of advertising.

This quote suggests that businesses should shift to new marketing strategies when current methods are no longer yielding high returns.

Key Theme: Action Steps for Marketing Expansion

  • Start by maximizing current marketing efforts (more, better).
  • Once returns diminish, explore new placements, platforms, and core marketing activities.
  • Follow a rough order of new placements, new platforms, and new core activities based on lead generation efficiency.
  • Measure success and scale up using more, better strategies, then repeat the process.

Action step exhaust more better first, once you can't do any more any better, meaning the returns are lower than putting the same effort into a new platform. Then try new use this rough order new placement new platform new core four activity get it going.

This quote provides a step-by-step approach for businesses to expand their marketing efforts by first optimizing what they currently do and then exploring new avenues for growth.

Key Theme: The Interplay of More and Better in Advertising

  • The strategy of doing "more" should be pursued until it is no longer effective.
  • Subsequently, businesses should identify and fix constraints to make their marketing "better."
  • The concepts of "more" and "better" are interdependent and should be used in conjunction with each other.

The first question I usually ask myself before we invest in a company that needs to get more customers is what's stopping them from doing ten times what they're currently doing?

This quote suggests that identifying constraints to marketing efforts is a critical step before scaling up, as it determines whether to focus on doing "more" or making existing processes "better."

Advertising Fundamentals

  • Start with familiar ad placements on a known platform.
  • Progress to familiar placements on a new platform.
  • Utilize new placements on the new platform after gaining familiarity.
  • Introduce a new core activity for additional leads.
  • Advertising is about making offerings known to potential customers.
  • Lead magnets or offers turn strangers into engaged leads.
  • Advertising trades time, money, or both.

Only once you've exhausted more better. Do the real returns come from doing new first, go with new ad placements on a platform you know.

This quote emphasizes the importance of fully utilizing known strategies before venturing into new territories in advertising.

Core Four Advertising Strategies

  • Warm outreach to initiate customer base.
  • Posting content if more time is available.
  • Cold outreach or paid ads if more financial resources are available.
  • Focus on one method to generate engaged leads before expanding.
  • Methods compound and support each other when combined.

So just pick one, then max it out. Do more, do better, do new, and all the advertising methods compound together.

This quote advises to concentrate on one advertising method, optimize it, and then explore additional methods for a compounded effect.

Personal Business Growth Examples

  • Different businesses built using combinations of content posting, warm outreach, paid ads, cold outreach, and affiliates.
  • Each combination enhances the effectiveness of the other activities.
  • Mastery of one method can ensure lifelong self-sufficiency.

I built my first business off posting content and warm outreach. I built my gyms off free content and paid ads.

This quote provides personal testimony on how different advertising strategies were successfully applied to different business ventures.

Scaling Businesses and Lead Acquisition

  • The "more better new" framework is highly regarded among portfolio CEOs.
  • The framework is a guide to assess and improve advertising campaigns.
  • Sharing knowledge can benefit others and is encouraged.

This is one of my favorite topics around scaling businesses. Our portfolio ceos cite this as one of the most impactful frameworks I've given them.

This quote highlights the effectiveness and popularity of the "more better new" framework for scaling businesses and improving advertising campaigns.

The Lead Getter Section

  • The book's second half introduces advanced lead acquisition methods.
  • The first half establishes the core four fundamentals necessary for understanding advanced strategies.
  • Advanced methods provide leverage, increasing leads from hundreds to thousands per day.

But where you go from 100 leads a day to 20,000 leads a day comes from leverage, and that comes from the back half of the book.

This quote indicates that the latter part of the book focuses on strategies that significantly increase lead generation by leveraging advanced methods.

  • The book "100 million dollar leads" is authored by Alex Hormozi.
  • Copyrights for the book and audio production are held by Acquisition.com.

This has been 100 million dollar leads written by Alex Ramosi read by Alex Ramosi Copyright 2023 Acquisition.com Audio production copyright 2023 Acquisition.com media.

This quote provides the copyright information for the book and its audio production, attributing the work to Alex Hormozi and Acquisition.com.

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