Alex Hormozi: This Lesson Cost me $5,000,000...

The video is about a lesson that cost Alex Hormozi $5,000,000, which is that decreasing prices does not necessarily lead to an increase in sales.

This video by Alex Hormozi was published on Jan 1, 2021.
Video length: 01:19.

In this video, Alex Hormozi shares a hard-learned lesson about how decreasing prices does not always lead to an increase in sales.

He gives an example of how his employees suggested lowering their prices, which resulted in a decrease in profits and no change in customer churn.

This decision ultimately cost him $5 million, and he advises viewers to learn from his mistake.

• Lowering prices did not increase sales for the company.
• The addition of coaching services did not compensate for the price drop.
• The company lost $5 million due to the failed pricing strategy.

This Lesson Cost me $5,000,000... - YouTube

Lesson Learned: Decreasing Prices Does Not Necessarily Lead to an Increase in Sales

• Employees complained that the company was too expensive and suggested lowering prices.
• The company lowered prices from $800 to $600 per week and added coaching services.
• Clients complained about paying more before the price drop.
• The company's profit decreased by $400 per month.
• The churn rate remained the same.
• The lesson cost the company $5 million.

Watch the video on YouTube:
This Lesson Cost me $5,000,000... - YouTube