The Most Valuable Insight I Gained From Alex Hormozi.
According to Alex, here’s all you need to get to 6-figures (a year)…
One channel, one product, one avatar.
Once you understand what this means, you’ll be set for life. So let's break it down step by step.
One Channel
Your channel is the platform that you use to do business. So that could be YouTube, Twitter, Medium, a personal website, google ads, email, etc.
It doesn’t have to be social media it could be paid ads or cold outreach. However you reach your clients or customers, that's your channel/platform.
One Product
This one is simple. Your product is just whatever you’re selling. If you’re a writer, then your content is the product. If you’re an affiliate marketer, then your product is the CPA offers you get from your network. If you’re a drop shipper, then the product is whatever you’re dropshipping.
I could list a thousand other examples, but I’ll leave it up to you to think about what your product is.
One Avatar
In marketing, an Avatar is an imaginary person that you come up with who has the exact traits of your ideal customer.
You invent this imaginary person in order to better relate to the mindset of your customers so you can directly market to the people who are most likely to buy from you.
Why choose this simplistic approach
Many new entrepreneurs get bogged down in the beginning by trying to market multiple products to multiple avatars over multiple platforms. This doesn’t work for new startups.
You don’t have the budget, time, or resources to create a complicated multipronged business in the beginning. And even if you do, it's better to start simple so you can get the machine running, and then scale up with more products, avatars, or platforms later.
For example, I’d rather have one youtube channel with 10,000 subscribers, than have a youtube with 200 subscribers, a Twitter with 100 subscribers, and an Instagram with 4000 subscribers.
It's best to keep it simple, especially with small businesses in the beginning.
Of course, full disclosure, I’m only just getting started myself, but Alex’s plan is absolutely the one that I’d follow.
