Answering Your Top Business Questions for 1 Hour | Ep 828
episodePreviously titled “Answering Your Top Business Questions for 1 Hour | Ep 851” — renamed by the publisher on Aug 2, 2026
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What business questions did Alex Hormozi answer?
I'm Alex Ramozy and I'm an investor and I own Acquisition.com. It's a big portfolio of companies, makes me more money than I'll ever need in the rest of my life. I had a hundred business owners who flew out to our headquarters to scale their companies. And so they asked me questions for an hour. I try to do my very best to make the solutions as tactical as humanly possible so that you can, watching from home, immediately use them in your business.
First off, I have to say thank you for taking me out for dinner last time. That conversation that we had literally changed my life and changed my business. So yeah, appreciate that.
Can you tell the story of what happened?
For sure.
We had an event that was scheduled, had to get moved. The memo got passed down and everyone found out except for one sales guy. And he sold six people into an event that didn't exist. On like a random Monday, we had six people showing up, came from Israel. And he was like, hey, I'm here for the workshop. And I was like, this looks awesome for us. I'm really happy that we're in this situation. We've always tried to come from the perspective of when you have something that gets messed up, you can't just refund somebody, because they're still net negative. He still flew from Israel. If I'd said, hey, my bad, here's the money back, he'd still be like, screw this guy. And so we had the team spend the day with the six, and then we took them out to dinner.
How do you handle customer service mistakes?
And I bring that up just because it was a great example of something that took me too long to learn, was that you can't just make it right. You have to make it more than right in order to actually make it right. That was obviously a super unfortunate situation. And every business, if you have humans, you make mistakes. And so that was a mistake that we had made. I remember hearing the stat from Disney, which is that it takes 37 magical moments to overcome one tragic moment. And so the moral of that statistic is not let's do 37 magic moments, it's avoid the tragic moments if at all possible. But if you do find yourself in a tragic situation, here's an interesting thing that Layla taught me, which is that, believe it or not, the people that you wrong and then supercompensate to make it super right become your biggest ambassadors.
He flew back out and he gave such a heartfelt story that it took somebody who was negative and I think, from at least what it sounded like, he was super positive towards us. And I think that that's, in some ways, as terrible as it is, when you do have one of those tragic moments, just see it as an opportunity to flip someone from a hater into an ambassador. Rather than being like, oh, we gotta give these people refunds. It's like, no, we actually get to build our reputation and decide what kind of company we wanna be.
Where we're stuck at right now, so we're selling the back end off for $1.95 a month for semi-private or four months for $5.95. Our churn for both of those is 50%, so weighted it's 30% churn. And the reason why we've got such terrible churn is nobody shows up. Like 7% of our student body actually shows up to the calls and actually gets the value from the thing they purchased.
What's the onboarding look like?
So we have the closer get them to see the calendar of we have eight sessions a week that they can join. So they showed them the calendar. They say, OK, which one of these do you think you can come to? And then they get them to say, OK, this one. And then the closer says, OK, I'm going to tell Jenny who's the coach on that call. She's going to be expecting you.
What onboarding strategies improve customer retention?
There's two there's two kind of like. different angles to attack this. One is the kind of like logistic side, which I'm going to cover first because it's easy and just process stuff. And the other is kind of like the bigger, more amorphous stuff, which is like, how do I make our thing easier and more enjoyable for people to kind of experience? On the logistic side, I'm sure that you're on my email list. If we had dinner, you better be on my email list. By the way, have you got anyone here read the Mosey Minute? Anyone? I think it's some of the best stuff I've put out. Anyways, it's really good. I think it's really good. I spend my Sundays on it. Anyways, so BamFam is a way of life. So book a meeting from a meeting, right?
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Chapters
6 chapters
1
What business questions did Alex Hormozi answer?
0:00–1:15
2
How do you handle customer service mistakes?
1:15–3:21
3
What onboarding strategies improve customer retention?
3:21–14:26
4
How can you scale your marketing budget?
14:26–16:04
5
What should you focus on in B2C versus B2B?
16:04–18:42
6
How can you effectively train your leadership team?
18:42–32:34