$100M Leads

Welcome to my $100M Leads summary and SparkNotes!

The UPDATED book summary and review can be found by clicking here.

I’ve finished reading $100M Leads by Alex Hormozi.

booboo real-time book rating: ★★★★★

Did you know I’m an author? I wrote four books on real estate investing, travel, and language learning.

As I read the book, you will find my in-progress $100M Leads review and book summary notes below:

• Something seems off about his story. I’ll stop short of calling bullshit, but to make then lose hundreds of thousands of dollars, multiple times, and not take someone to court over that, which is more than your life savings, is not a normal course of events.
• “Getting leads has been my get out of jail free card with no expiration date. And at this point, it’s faded and worn with use.” Wait, what? Am I misunderstanding? So you’ve written this book to share your faded and worn secrets?
• 11 ways to increase their confidence in buying (ie perceived likelihood of achievement)
  • Proof you’ve done it
  • Proof of other, similar people getting it done
  • Volume of happy reviewers
  • Certifications/degrees/third-party accredations
  • Numbers, stats, reserarh that supports the outcome
  • Experts/celebrities vouching/endorsements
  • Guarnatee
  • specificity of them or their pain
  • demonstration (live or recording)
• On creating free content and personal brands: the content you create isn’t the compounding asset – the audience is. So even though the content may disappear in time, your audience keeps growing.
• My own note on him paying $120,000 for four calls with an influencer: PROBABLY DON’T DO THIS (unless you know exactly what you want to get out of it).
• After your lead magnet, add something to buy on the thank you page
• Personally, I found the section on creating content valuable. I’ve taken notes privately and will unpack at the end of the book and update here. But one thing is switching from “How to” to “How I” and “This is the best way” to “This is my favorite way”
• A great reframe: “People don’t have shorter attention spans, they have higher standards.” (p. 160) Check out my book summary of Reframe Your Brain by Scott Adams to discover dozens more valuable reframe that lead to life success.
• Ads section, while good, lacks information on learning the individual systems. You can build a nice ad, but that’s half the battle, the other half is optimizing the ad for the particular platform using thier interface and they are SO complicated.
• “So get a consultant, watch tutorials, and get it setup. End of Story.” (p. 245) Again, paid ads is the weak link in his story. It doens’t work like this. Seemingly the most obivous question when hiring a paid ads firm is “so if I spend $1 with you, how much will I earn?” is not answerable.
• “I’ve lost money more times than I’ve made money running paid ads.” (p. 245) Appreciate his honesty, this is not a strategy for a small business or anyone who doesn’t want to spend a year learning this highly nuanced skill. “I worked at a business that took a year to get paid ads profitable.” (p. 246)
• “If you made a billion dollars per customer, then you could spend nine hundred and ninety-nine million dollars to get a customer and still have a million dollars leftover.” (p. 250) I think it’s very bad advice. Thinking like this increases your risk a lot. What if, in this situaiton, anything bad happens. You. Are. Fucked. And, in business, it’s not smooth sailing, bad shit happens.
• “Start with a nacceptable amount of money you are willing to lose each month. Expect to lose it. You won’t be earning. You’ll be learning.” (p. 257)
• “I recommend doing paid ads last for two reasons.” (p. 258) skills from the first three are transferable to paid ads and you’ll ahve money to lose from the things you did with the first three ways. Bascially, you should only do paid ads if you’re willing to learn a lot to get good and have a lot of money to spend and have the persevercne (and again the money) to push through until you master it. Everyoe does not master it. hope that you are not one of the losers.
• “We expect to lose more times that we win.” (p. 258) fine ,but you just got done writig a chapter seeminlyg with a fomrula on how to make things work, how to get people intersted, engageed, buying with you free content…why wouldn’t that transfre to paid ads. Not a 100% hit rate, but the example he gives is a 10% hit rate.
• Gives a pro tip about how Facebook says the top 0.1% tested 11x more and then says that you should test 11x more. Hah! How conveneincet. If I were Facebook, I’d release that stat too! Everybody should test 11x more!! horray! Let’s see, what else does the top 0.1% have in common? Billion dollar valuations? Teams dedicated to getting it right? Gigantic budgets? All paid ads do it drain out a lot of reseouces and increase your refunds.
• i’m seeing the same ads from a compny over and over, thing is I only started seeing the ads after I became a paying customer. Their ads have appeared hundreds of times for me over the past year. Same thing with ads on twitter, seeing the same thing over and over. I get the over and over, but within the same day, within the same week
• Going hard at the ads thing…p. 291 “‘You ignored the ads for two weeks!?’ She had oh no you didn’t written all over her face.” Said in a way that would suggest ignoring the ads for a single week is abig no-no. If you do ads, be prepared to work, a lot more than you’re working now.
• By Hormozi’s own admission, a 3:1 LTGP (lifetime gross profit) to CAC (customer acquisition cost) is minimum. I know many agencies functino in the 2:1 range relying on new customers due to high turnover. This is the norm. That means you’re spending up to 50% of your revenue on a customer. This is the most expensive cost of your business. On top of that, a lot of agenices use ROAS (return-on-ad-spend) to measure success and they, too, measure success at 2:1 minimum, but ideally 3:, 4:, or, if you’re lucky, 5:1. Only thing is ROAS = gross sales/ad spend, ignoring lifetime value.
• part on referrals was good, probably underleveraged aspect on most buisnesses and I added a little blurb to my orders

You are reading my book review and Cliffs Notes summary by Alex Hormozi. Be sure to check out my digital bookshelf for 100+ book summaries.

As always, new words:

• Nincompoop – a foolish or stupid person.

Thanks for visiting and thanks to Alex Hormozi for writing $100M Leads!