How To Stop Solving Problems That Do Not Exist | Ep 956
4/7/202633 min
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A clear input-output equation defining core actions that drive revenue growth is necessary to scale any business. In this episode, Alex Hormozi, whose service companies generate over $30M annually, advises five entrepreneurs on how to scale their stagnant service businesses. He emphasizes that successful entrepreneurship comes with consistent trade-offs between ambition, family time, distractions, and hiring top talent to run the business.
In this episode
00:00 Scaling a chiropractor stuck at $2.4M revenue
06:41 Pricing strategies for SMB marketing to minimize churn
11:52 Handling AI threats to a website as a service (WaaS) business
17:14 Overcoming supply constraints to scale a CFO advisory company
25:39 Trade-offs to scale a roofing business from $6M to $100M
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Clips
Transcript preview
First 90 secondsAlex Hormozi· Host0:00
I've been in business for fourteen years. I've scaled six brick-and-mortar gyms. I did thirty-plus gym turnarounds across the country and built service companies to over thirty million dollars a year. Today, our portfolio at acquisition.com is over two hundred and fifty million annually. And so in this video, I'm answering your questions about how to scale your service business. And for all these questions, I try to make, you know, my answers as tactical as humanly possible so that you watching from home can immediately use them. Enjoy.
Speaker 1· Guest0:21
I am a chiropractor. Uh, we do right around two point four. Been stuck there for five years. Uh, I'd like to get to three point six and get out of the swamp.
Alex Hormozi· Host0:30
Been stuck or stuck or growing over five years?
Speaker 1· Guest0:32
We've been at two point four- Five ... five years.
Alex Hormozi· Host0:34
Yep.
Speaker 1· Guest0:34
And so- Got it ... I don't know what's stopping us. I'd like to get out of the swamp.
Alex Hormozi· Host0:38
Heard. And then profit margins, you're at thirty percent, right?
Speaker 1· Guest0:42
Yes, sir.
Alex Hormozi· Host0:43
Yeah. Okay. And we're seeing six hundred thousand as a profit number. I don't know if that's still- Yep ... accurate. Okay. So you got six hundred thousand in profit, and h- you have... Do you have... You and a partner or you're a hundred percent?
Speaker 1· Guest0:52
Hundred percent.
Alex Hormozi· Host0:53
Okay. Well, what, what do you wanna h- you just wanna... Like, what do you wanna have happen? Do you wanna... Like, what do you wanna do? Do you wanna go to many locations?
Speaker 1· Guest1:00
No, I wanna, I, I wanna grow a, a main big location and- Okay ... um, you know, create a space for family to eventually... I mean, growing there, if they're, if they don't wanna do that, then that would probably change my goal to being an exit- Okay ... from a standpoint. But- What's your square footage? Uh, right now we have seventy-seven hundred- Okay ... square feet. We- So decently large. Yeah. We occupy about forty-seven hundred of it.
Alex Hormozi· Host1:23
Okay. Got it. And so are you at capacity within the space right now?
Speaker 1· Guest1:28
No. We used to have