Alex Hormozi: This QUICK FIX will make us an EXTRA $10,000,000 next year..

The video is about a problem-solving process that unlocked $10-12 million in annual revenue for the speaker's company by identifying and solving the root problem of their sales team's inability to meet their outbound rep hiring goals.

This video by Alex Hormozi was published on Oct 22, 2021.
Video length: 07:52.

In this video, Alex Hormozi shares a problem-solving process that unlocked $10-12 million in annual revenue for his company.

He explains that many entrepreneurs focus on adding potential to their business, but fail to identify and solve the constraints that limit growth. Hormozi shares an example of how his company misdiagnosed a problem with their outbound sales team, and how they were able to unlock significant revenue by fixing their hiring process.

He encourages viewers to use this framework to solve the right problems in their own businesses.

• A problem-solving process unlocked $10-12 million in annual revenue for the speaker's company.
• Entrepreneurs often focus on adding potential to their business, but every system has constraints.
• The misdiagnosed problem with the sales team's outbound rep hiring goals was the root problem.
• The actual hiring process needed to be fixed to meet the hiring goals.
• The purpose of the video is to help others use the framework to solve the right problems in their business.

This QUICK FIX will make us an EXTRA $10,000,000 next year.. - YouTube

Introduction

• The speaker shares a problem-solving process that unlocked $10-12 million in annual revenue for his company.
• The process identified and solved the root problem of their sales team's inability to meet their outbound rep hiring goals.
• The purpose of the video is to help others avoid making the same mistake and use the framework to solve the right problems in their business.

The Constraint of the System

• Every system has potential and constraints.
• Entrepreneurs often focus on adding potential to their business, thinking they are solving the constraint.
• However, every system will grow up to its constraint and no further.
• The speaker's company had a misdiagnosed problem with their outbound rep hiring goals.
• Identifying the root problem and fixing the actual hiring process was the solution.

The Problem with the Sales Manager

• The sales manager set the goal of adding six more outbound reps for two quarters in a row.
• However, they were not able to achieve this goal due to a misdiagnosed problem.
• The speaker asked the sales manager why they were not able to achieve the goal.
• The sales manager mentioned losing a couple of reps and having the same amount as before.
• The speaker realized that the sales manager was not the constraint of the system.

This QUICK FIX will make us an EXTRA $10,000,000 next year.. - YouTube

The Hiring Process

• The speaker asked the HR director how many people she was sending to the sales manager per week.
• She sent about one qualified candidate a week, and it took five interviews to send one qualified candidate.
• The sales manager needed four final interviews to hire one person.
• The churn in the position was about 20 a quarter.
• The speaker realized that the actual hiring process needed to be fixed to meet the outbound rep hiring goals.

The Quad Marketing Calendar

• Marketing to employees is important to keep them engaged and motivated.
• Marketing to prospects who are now customers is necessary to keep them buying again and again.
• Marketing externally to prospects is crucial to get them to become customers.
• Acquiring new talent is a parallel process to acquiring new customers and should have a marketing calendar of its own.
• Running ads, generating leads, setting appointments, making job offers, and onboarding new employees should be treated like a sales process.
• Managing and ascending employees is a parallel process to managing and reselling customers.

Watch the video on YouTube:
This QUICK FIX will make us an EXTRA $10,000,000 next year.. - YouTube