This is BY FAR the best book on creating profitable offers for small business owners.
Sometimes finding a useful and actionable small business book is like combing the beaches with a metal detector; you sift through tons of garbage only to discover a gem encrusted with dirt and silt.
This was my experience with $100M Offers: How To Make Offers So Good People Feel Stupid Saying No by Alex Hormozi.
Don’t ask me what I was looking for on Amazon when I ran into this book about how to create an offer your customers will buy.
I snapped up a Kindle version and have shared the name and accompanying FREE course on how to develop offers with all of my friends. And now, I’m sharing this with you.
Alex Hermozi is One of Us
The first thing I loved about this book is that it’s written by what I like to call “One of Us”. Alex Hermozi started his entrepreneurial journey by owning a gym. As you’d imagine, he struggled, went broke, rose out of the ashes — blah, blah, blah. You know how THAT part of the story goes.
But here’s what Alex did that I love — he figured out that he has the superpower of creating profitable offers and upsells AND he documented exactly how he thinks so that you can do it too.
He’s a consultant and business builder, but he’s only working with businesses that are more than $3 million in sales. This probably excludes most solopreneurs, but he’s decided to build a funnel with two pieces of content — this book and a corresponding online course. There’s a link to the free course in the book.
Inside $100M Offers
The book is written in five sections. It’s like Hermozi took his entrepreneurial journey and sketched out a simple map with a sharpie.
The entire book walks you through this map – step by step. Will YOU become as good at this as Hermozi? He hopes you will.
Section 1: “How we Got Here”
This is the obligatory rags to riches story. Some people love them, they do nothing for me. But it does provide proof that Hermozi is a regular guy, just like you and just like me. This section is there to show you that if he can do you it, you can do it.
Section 2: Pricing – How to charge a lot of money for your stuff
This is where the good stuff begins and it just keeps coming. Don’t worry, he doesn’t jump into the numbers out of nowhere. This is a meaty section that explains the basics of business survival as well as growth.
In the same way that Vince Lombardi started every season with “This is a football” Hermozi takes the time to give you the basics that you might have forgotten. Such as
“There are only 3 ways to grow a business:
- Get more customers
- Increase their average purchase value
- Get them to buy more times.”
You’ll learn about finding a “starving market” — I just love this quote from the book
“You could have the worst hot dogs, terrible prices, and be in a terrible location, but if you’re the only hot dog stand in town and the local college football game breaks out, you’re going to sell out. That’s the value of a starving crowd. At the end of the day, if there is a ton of demand for a solution, you can be mediocre at business, have a terrible offer, and have no ability to persuade people, and you can still make money.”
Why did I pick this quote? Because. my dear reader, Hermozi says the quiet part out loud. We can’t ALL have the very best product or service in our market. Someone will be better, cheaper, faster. But, if you take a moment and get real about what you have to offer and who you are offering it to — you can make money. The secret is to be honest with yourself and your customers.
There is just SO MUCH MORE goodness to share from this section, but I simply don’t have the space to share it.
All you need to know is that he breaks all these parts and pieces that you’ve been overwhelmed with and he presents them in a way that you can understand, accept, and apply to your business.
OK, let’s keep going.
Section 3: Value – Fair has nothing to do with offers and prices and your success
“From this point forward, you must abandon any notion you have about “what’s fair.” Every enormous company in the world charges you money for things that cost them nothing. It costs pennies for the phone company to add an additional user, except they don’t mind charging you hundreds per month for access.”
Do you SEE what I am talking about and why I am so excited about this gem of a book?! There are so many face-slapping, re-framing concepts that you’ll read through quickly — because it’s an easy read. But, then you’ll have to simply stop and think about how you’ve been thinking about it wrong all this time.
I know. That part is no fun. But look on the bright side, you’ll be reading this alone – unless you do what I did and share it with a bunch of friends.
Section 4: Enhancing your offer. The secrets behind bonuses, upsells and cross sells.
“Fundamentally, all marketing exists to influence the supply and demand curve. We artificially increase the demand for our products and services through some sort of persuasive communication. When we increase the demand, we can sell more units. When we decrease supply, we can sell those units for more money.”
This is for the advanced class. You MUST master the elements in the previous sections to do what’s coming up. It’s not difficult, it’s just much easier if you’ve done the hard work in the first three sections.
In this section Hermozi takes you through an offer pyramid and helps you break your offer down into a variety of combinations so that you can reach your revenue goals.
Section 5: Getting to $100,000
This last section sets you up for action and success. The goal is to get to your first $100,000. That’s it. Hermozi shares that it wasn’t his first million that gave him the confidence and security he was after — it was having that first $100,000 in his bank account.
There’s a subtle distinction here that you need to be clear about. You’ve already made $100,000 but there’s a good chance that you haven’t had a lump sum of $100,000 in your bank account in a while — if ever. And this is the golden ticket.
3772 5-Star Reviews Can’t Be Wrong
I don’t normally talk about quantities or qualities of book reviews on Amazon. But the fact that $100M has 4,000 reviews is astounding. The additional fact that 94% of those reviews are 5-star reviews tells me that there are a lot of satisfied readers.
These reviewers are NOT famous, they aren’t celebrities, they are people like you and me who have put the lessons in this book to good use.
What Offers Will YOU Create?
While there are thousands of marketing books out there, this is by far one of the most practical and useful books I’ve read. The advice and exercises in this book are spot on, developed BY a small business owner for business owners, consultants and entrepreneurs.
There are so many reasons to get a copy of $100M, but here are just a few:
– You’ll learn how to make offers so good people feel stupid saying no
– You’ll understand the value of fair has nothing to do with offers and prices
– You’ll get enhanced understanding behind bonuses, upsells and cross
If you’ve been struggling with creating profitable offers and you’re tired of low conversions, $100M will get you to your first $100,000