Alex Hormozi
๐ค SpeakerAppearances Over Time
Podcast Appearances
And typically, it also leans into psychological bias of, hey, I just paid a lot of money for this thing.
Why would I cancel this recurring subscription just to maintain my skill set here?
Now, the two more elements that you can add in terms of stickiness can be
discount buying, which is that if you have a lot of people who are buying paintbrushes because you taught them how to paint, if you say, hey, if you buy, you know, I have this collective buying power.
And so I will give you, you will get discounts on your materials that are half or in excess of my subscription price.
It's highly likely that people will be, people will stick on your thing because it's very clear ROI for them.
They save more than they spend.
So they'll keep doing it.
And so the other component that you can add in from a stickiness perspective is continued education.
So some of the most valuable companies in the education space are actually adult continued education, meaning, oh, I'm a nurse.
I need to get these continued credits.
I need to keep up with the up-to-date technology and think of news as the thing.
So what's the news in the industry?
What are the new techniques?
What are the new tools that I can teach on a consistent basis so this person can stay up to speed?
And again, the amount that you have to pay
to become a doctor versus the amount they have to pay to stay a doctor, significantly different.
You might have to pay $250,000 to become a doctor and $3,000 a year for your continued credits.
And so make sure that the pricing is appropriate to the value that's being provided.
So that is the problem that you have to solve within that business.