Alexi Omar
Appearances
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, you're right.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So you're asking me?
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So the average ticket on the service size between the ongoing one time and the consultation is about 1500. That's the average.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
It's no, it's basically the, the ongoing right now is about the lower ticket is about a thousand per month. Okay. Where, because we are not, uh, charging them by the hour, like a traditional lawyer. So, and this is seven 50 usually. So you can see that if you combine the other. Yeah. They're usually get to.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah. We're selling right now three months for $4,000. Great.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, we can move towards the outcome if it's the type of deal that we want to work with.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
That's how we're doing it right now. Good.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Okay. More tears. Yeah. More tears.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, because my time is spread around trying to understand this.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So we create content on YouTube. We have about 90,000 subscribers.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
I'm getting about 800 new followers.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Then they usually go to our Instagram page.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So we can help more people.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
okay is that the that's like the call to action in the videos and like the call to action is to go to our website but a lot of people go to instagram to just uh ask questions like hey i have this problem can you help me interesting okay got it so where do the sales come from then the sales comes through dms so usually they go to instagram and they'll ask a question so the place that you don't intend people to go is where you make your money
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Love colors too, Michael.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
And the question, uh, the question would be, so we would create, uh, from the Instagram, from the DM or the WhatsApp, we would create a calendar link. They'll go there. They'll, uh, get the, the initial consultation for free is going to be clear.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
It's a sales call. Yeah. It's a sales call. Then from there, once they schedule the consult, the call, they go to a VSL to prepare them. Yes.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Before the call, yeah, to prepare them and their expectations and everything. Then on the sales call, we'll identify whether we can sell them our services or if not, downsell them to our course. Exactly.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So our core offer is our the results, right? The outcome. That's our core offer.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
And that outcome, it's based on your specific need and our ability to fulfill that. But we're not saying when people are coming to us because we're lawyers in this specific niche, we don't have to talk about specific outcomes.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
if we didn't charge the percentage and if you're like oh i don't want to pay that percentage then you can pay us 25 000. so we'll do 25 000 without the percentage or we'll do 5800 with the percentage got it got it and then uh do you think that that also gives you a very nice price anchor yeah it makes it makes sense because uh the the percentage right now the last two deals the average has been like 40 something k okay and the the lead magnet would be the sales call
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Okay. And which is a good thing. So it's great. And I have three people that can actually do that with me. So if everyone has their own calendar link, as you explain in your book, then, okay. I have a book on the bestselling author in Spanish in this niche. Right. How do you, where do you see that fitting in?
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Maybe that's the lead magnet, like giving it out for free, like you do, because they're usually become super fans.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Um, or is that just another,
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, Instagram.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Okay. And the last question would be, um, on the software side. Yeah. Because the product roadmap is almost finished entirely with all of the features that the companies are looking for. Yeah. If I'm not investing any energies on that, I want to know.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
No, yeah. They just find us.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Okay. So if I'm not, suppose I'm not spending energy.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah. Suppose that in fantasy land, is there a way that we can create like a sunset period where we would say, okay, I'm going to give the team X amount of time to roll out all of the features that these companies that are saying, I want to use it. I'm going to pay for it, you know, 15, $25,000 per year for the software. Is there a way to create that while we're focusing on this?
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So don't have that number. We know that from the website we generate about 7,000 visitors. Okay. And for example, in April we made 150 leads this far. So 7,000 clicks. Got it. All right.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Of course. No, no, no. I understand. I just want to have like the different scenarios.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So we're getting Spanish for lawyer. You're doing it right. So I'm giving you a little Puerto Rican Spanish there. So our constraint right now on your framework of the scaling workshop is demand. Because we're not only starting and stopping, but also we're not directing them through the proper channels.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
The good thing is it's only up from here.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Put it there to be aware.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
And the next phase to, to have a timeline, or at least to be aware of our next phase would be do this until we get to a million per month.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, it's just becoming a law firm, a bigger law firm.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah. And that number is that the $5,000 is that for any type of outcome? No.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, they're for free course. Okay, so they just opt in for a free course. Yeah.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Okay. So if I've had the cost, for example, a lawyer cost me X amount per month. Now I know that I need to be making five times more, five times more minimum.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
And then from there, usually we'll try to sell them the course, our main course.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
I was aware that services was the play when we focus on services this year and we're already making way more money. But that was.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
What's the role of, for example, now that we're getting invitations to go and speak to other countries, what do you think about that from the focus side? Is that something for distribution? Because if no other lawyers are doing that, no other lawyers are publishing their books, is that something that we can use to differentiate from other, particularly in service-based businesses?
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
With every video, we usually tell them, hey, and if you want to learn more about this, make sure to, to enroll in our community. The next step for that, they'll go through the course and receive some nurturing emails.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So that is why maybe the counter argument would be if you want us to go to the stage, you have to pay us an amount that is worth it.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Exactly. You already have the number because you have it on a day-to-day basis.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yes. All right. Deal. Done.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So right now we're selling about nine.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Our basic offer is $500 one time fee. So they have access to all of our courses now and forever. Okay. And then we have an upsell of another 500.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Our revenue for the last 12 months has been $300,000. Profit? Uh, negative. So we're losing money.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, in the same cart where they, when they buy the 500, we'll upsell them to another 500 for monthly Q&A.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
No, just lifetime as well. Forever.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So on the same Instagram page, if they want a consultation instead of learning, because they say, I'm not interested in learning. Sure. I just want you to do it. Yeah. Want you to do it. We'll then send them to our calendar link to schedule a consultation. And that's $250 for an hour.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
We lost a hundred thousand.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
You could say that. To get your $131,000?
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Between the consultations, because usually when they go through the consultation, say for example, in the last three months, we've averaged about nine to 10 calls. So then from there, we'll either tell them, do you need a deliverable service? So for example, registering your trademark or business formation, those are three out of the 10, you can say. Okay.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
And then another three are ongoing legal services.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So the other business is the software.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
It's a VC story.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So the software is.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, it's the same thing. Okay. Usually they'll say, I don't have $250. I just want contracts. Okay. And we'll tell them, well, you can access all of our contract templates inside our software so you can pay for that.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
And that's what happens right now.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
To our website, to our software website.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
They start a free. We had a freemium. Now we're using free trial. Okay.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Right now is a thousand per year.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yes. We also have a monthly version.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Before we have a $500 per year. Yeah. So it was easier. The problem is that the value proposition at first was, well, pay us and we give you the contracts, but learning that people were churning because once they have the contract, they'll download it and just go away.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Right now we have services.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
sales well the reality is we started selling services in back in 2019. so in 2021 uh people we got a lot of demand i couldn't keep up i started selling courses so they could you know learn about how to do them themselves and then after that um and also contract templates and then the education side just you know we started making them same amount of money in education this is going to be an important one for you yeah all right
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
We have education.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, we started doing that. Yes.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
We wanted to help more people instead of just
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
I sell to artists and entrepreneurs in the Latin music industry.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah. So the educational side, we already have over 800 people.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Lifetime everything. Lifetime everything. The thing with the education is that it's part of we are giving back to the community and nobody else is doing this. So every time, thanks to the education efforts, we are traveling the world and teaching other people in Guatemala, in the Dominican Republic, in Spain, how the music business works.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Because in those places, our content is the university's content. So it's an impact project, right? Okay. So that is why the education, you know, it would be very difficult for us to shut down. And the education without the software is not losing money. It's the software that actually is losing money.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
In reality, the education would be a break-even.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
That whole money that we're losing. So this is just zero.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So the software right now, there's not a specific reason we can shut it down. We've seen traction on the B2B side of companies in the music industry that are interested in using our software because their clients, like big companies, now need a music contract software to manage their documents. So they play there for us. So what, the software? The software.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Right now, it's burning $7,000 a month because we cut every employee before.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
I'm not sure. And the other thing is the software actually right now, the way we are seeing it grow is by bundling services with software.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, the services.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
The thing that we need is to be profitable.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Growing pains.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Right now it's only one live stream with the community per month or per month. Yeah. That's the only thing. That's it.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah, that was profitable.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
We can do that.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So we made $131,000. Okay. And we made about $10,000 in the last 12 months. In profit? Yeah, in profit.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
The cost would be the associate who is delivering the services. Right now, we have a rev share model. But we also have, because the services, for example, this year, we are already at $150,000. Okay, great. Because now, thanks to the education, the next generation of artists are looking towards us to represent them in deal closing deals, right? So from there, we take a commission from the deal.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So for example, we've recently closed several deals that are above $500,000 for the artists. Amazing. And we take 5% from those. Okay.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
They're no, they're lawyers representative. Those are legal fees that the label will also pay us. That's the music industry is that is heavily commission based. Mm hmm. So they get an advance. Yeah. And the label will.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
131 as well. Oh, how coincidental.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
But we lost their, like most of the money we lost between the two. Okay. So it's between the two because they're under one company.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
Yeah. So we have to qualify them before they can go to the landing page because, you know, there's 10 million artists on Spotify and only a thousand are professional, maybe 2000 are professional. So do you see that the landing page? Yeah.
The Game with Alex Hormozi
Helping A Failing Business Owner Fix His Business | Ep 870
So. Yeah, because I've worked with different artists that are Spotify. For example, I have a Spotify. I'm a guitar player. And I have 15,000 monthly listeners. But you wouldn't take that to determine whether I can play you or not. Of course.