MBA2500 Must Read: $100M Leads by Alex Hormozi

0:09Heyo, welcome to the$100 MBA show where you get practical business lessons for the real world. I'm your host, your coach, your teacher, Omar Zinhome. And today we have a must read episode. On our must read episodes, I share with you a book that has influenced me as an entrepreneur. I share with you its takeaways, its insights, and why you should read it too. Today's must read is$100 Million Leads by Alex Hermozzi. The subtitle of this book is How to Get Strangers to Want to Buy Your Stuff. And this is a follow up or volume two of his first book,$100 Million Offers. We had$100 million offers as a must-read episode, so you can check that out on our website.

0:48Go ahead and check it out over at 100mba.net. Alex Ramosi has become a well-known entrepreneur and author and basically is everywhere on social media and YouTube these days. He's become like the modern-day Gary Vaynerchuk. Not that Gary Vaynerchuk hasn't gone anywhere, but Gary was as big as Alex is now back in the early 2010s, 11, 12s, and beyond. And it seems like Alex has really struck a nerve with his audience with a straightforward and no-nonsense approach. And I picked up this book,$100 million Leads, because I heard about it through his huge launch. He had this huge YouTube streaming launch talking about this book.

1:32And in a lot of ways, I think it's actually better than$100 million offers because he breaks down how he actually was able to grow his presence online and become such a big influencer with 3 million followers on Instagram and beyond through his lead generation method. So let's get into it. Let's get down to business. $100 Million Leads is one of those books that's packed with actionable strategies and practical advice. I actually advise you to buy this book in physical form because there's a lot of drawings. There's a lot of graphs. You're going to want to take some notes in the margins. This is not a great book for audio.

2:07He does actually offer the audio book for free on his podcast, but I think that the book really needs to be consumed as a paperback. I bought the paperback. You can get it on Amazon or his website. But I do think that the physical book really lends itself to learning this better and actually getting more out of it because you're going to actually see and read and be able to kind of do some exercises in the book yourself. And it kind of looks like a textbook, honestly. And in today's episode, I want to share with you my four key takeaways. These are the takeaways I found that were the most useful.

2:39And I want to share with you some practical applications to those takeaways. So let's start with takeaway number one, understanding the lead generation process. One of the first things Hermosi emphasizes is the importance of understanding the lead generation process from start to finish. He breaks down the journey of the lead from initial point of contact to becoming a paying customer to becoming a paying customer again and again. this holistic view that helps you identify potential bottlenecks in the system, why you're not getting the right leads, why the leads are not coming in fast enough or not enough volume.

3:13It allows you to optimize each stage of the process. So understanding each step of the way is actually very important. We just think sometimes that leads are just like a bunch of emails and they're all created equal and I'll just get these emails and convert them to customers. No, there's a few more steps involved and the quality of each lead actually matters a lot. In the book, Carmosi uses real-life examples from his own businesses to illustrate how understanding and tweaking the lead generation process can lead to significant improvements. He shares how to analyze customer behavior and identify drop-off points, like when they don't become a customer anymore, when they're uninterested, and how to make adjustments to boost your conversion rates.

3:55Key takeaway number two, leveraging different lead sources. Harmosi thinks it's really important to diversify your lead sources. Relying on a single source of leads can be really risky. And I know this because when we were going through due diligence of selling my company, Webinar Ninja, our software company, after growing it for 10 years, one of the first things a buyer asks is, how do you actually get your leads? How do you get your customers? And you need more than just one way. We got leads through email marketing, through content marketing, through SEO, through running webinars, through paid advertising.

4:30So it's very important to have multiple ways to get leads because one way can dry out and you're going to need some backups. You're going to need some varied strategies so that you can get customers consistently. Remember, a lead is anytime somebody is interested in your business or your brand. This could be through social media. This could be through paid advertising. This could be partnerships. is going to be content marketing, like I mentioned. Each channel can provide its own insights, and they're all going to perform in a different way. They're all going to attract different types of leads, warm leads, cold leads, somewhere in between.

5:03And if you're feeling overwhelmed, it's okay. Just start with one way of getting leads. Maybe it's paid advertising. Maybe it's through content marketing. Maybe it's through partnerships. And then move on to the next one. Key takeaway number three is his post-free content part one and part two in the book. This is probably the most popular part of the book, and this explores how he posts free content on his social media to grow his audience and get more leads. In this system, in this post-free content system, he talks about how if you post free value, you can get a great audience. And that's how audience building works.

5:39And I know this firsthand because I've been running this podcast for 10 years and have published over 2 ,500 episodes now. And what he talks about, And what I really endorse is this only works if you're consistent and you do it long term. You have to consistently put out good content, valuable content for a long period of time, and then you'll see the benefits of all these leads coming in. It doesn't just happen overnight. It's a long term play. One of the things he talks about in the system is that most people don't post enough free content. They might post once or twice on Instagram a week or once or twice on LinkedIn.

6:15in. And he says, you need to 10X those numbers, you need to 15X, 20X those numbers. You should be posting a lot more to get the traction you need because it's a noisy place on social media. So he recommends posting minimum daily. And then if you can, a lot more each day than just once on all the platforms and have different content for each platform. If this sounds overwhelming, well, it's because it's a lot of work, right? And you've got to create a lot of content. You're going to have a good team behind you. I mean, Alex has got a team behind him, you know, editing and putting out this content for him.

6:49He's creating the content, but he's got a lot of help. So take baby steps is my advice. Don't feel like you need to be Alex Hormozy. If you're posting once a week, bump those numbers up to twice a week, three times a week until you get to daily. I recommend batch recording or creating your content. So say, for example, you're going to write a tweet a day. instead of doing that, write 5, 10, 20 tweets at one shot in one sitting, and that way you have all your tweets done for the next coming weeks. All right, key takeaway number four, tracking and measuring performance. If you want to improve your performance, you need to track it.

7:26Like Peter Drucker says, what gets measured gets managed, and you need to measure your performance. In the book, Carmosi provides practical advice on setting up tracking systems and KPIs or key performance indicators to monitor your lead generation activities. He explains how to interpret the data and use it to refine your approach to get better results. So how can you apply these insights, these key takeaways to your own business? Well, here's some practical steps. I want to kind of break this down and put a bow on this for you and make it easy. Number one, map out your lead generation process.

7:58Take a step back, get a paper and pen, get a notebook, and map out your entire lead generation process. Identify the key stages in any bottlenecks along the way from somebody just even hearing about your brand all the way to becoming a customer and then buying again and again and again. So just a quick example, when I was running our software company Webinar Ninja before we sold it, here's what our process looked like. A customer saw our brand on social media, whether through our content or through an ad or somebody else posting that they were using our product. They've heard of us before, right?

8:29Now they're getting familiar for the first time. They've seen this brand. Now they heard about us. Then they see an ad to opt in for a free guide or a free webinar. They opt into that webinar. Now they're on our email list. Through the email list, they see our automation emails. They read why webinars are effective and how they can help grow their business and get you more sales. They enjoy that content. They join the live webinar after a week or so. They're on the live webinar. They consume the content. They get to know me and the business and the product and the community. They ask questions.

9:01They get a demo. Later on, after the webinar is over in the replay email, they get an offer to get started with a free trial. They sign up. They didn't pay anything yet. They're on a free trial. Our onboarding specialist would go and reach out to them and help them get onboarded and create their first webinar. They create their first webinar. They run their first webinar. They then get a sale. They get an ROI. They get past the trial period and they become a member, but over yet. They start running more and more webinars. Their audiences get bigger and therefore they upgrade their plan to a higher plan.

9:33they then decide, hey, I want to do more than just live webinars. I want to do automated webinars, more upsells. I want to do hybrid webinars, another plan. I want to do live coaching and courses, Course Ninja, which was a sister product. So as you can see, many steps along the way. Next, diversifying your lead sources. You want to explore the different ways you can generate leads. Find out ways you can iterate on these strategies. What are you doing right now? What are some other ways that you can do that you're not doing now? Don't worry about finances right now. Don't worry if you don't have the money to spend on ads, just plan it.

10:06And then you can start putting some money into it once you have some profits. Next, increase your velocity when it comes to creating content. Again, this is free content on the different social media channels. If you're posting once a week, bump those numbers or three times a week, and then keep bumping them up every month or so. Keep the value high, keep the consistency consistent, right? And keep the volume increasing so then you can get more and more leads. And lastly, implement a tracking system, set up a system to track and measure your leads so you can improve your strategies. And there's lots of tips on how to do that in the book.

10:43Well, there you have it. $100 million leads by Alex Hormozzi. It does qualify as a must read and that's why we did today's episode. This is a very practical workbook, textbook-like book. This is not, you know, changing your mindset on anything. This is not inspirational. Although there are some inspirational stories in there, this is like how to get it done. And sometimes you just need a book to show you how to do things. And this is one of them. So if you're looking to take your lead generation efforts to the next level, I recommend you pick up$100 million leads by Alex Hermozzi. Thanks so much for listening to The$100 MBA Show.

11:17If you love what you hear and you want more of it, why don't you hit subscribe so you don't miss a beat? Whether you're on Apple Podcasts, Spotify, or any other podcast player, make sure you hit that subscribe button, that follow button, whatever it says, so that you get all our episodes automatically. Before I go, I want to leave you with this. If you're intimidated by some of the technical things in sales and in marketing, don't worry. Alex actually brings it down to earth, right? He simplifies things. It's not jargony. It's not complex. He actually brings it down to very, very bare bones basics.

11:50Anybody who is interested in learning about marketing and sales is able to pick it up and really absorb the contents. Thanks again for listening and I'll check you in the next episode. I'll see you then. Take care.

12:21Thank you.