The 100% Profit UPSELL

How I got here…

21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.

Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).

To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.

You either get an epic outcome or an epic story. Both mean you win.

Keep crushing. May your desires be greater than your obstacles.

Never quit,

Alex

*FULL DISCLOSURE*
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.

[shivamjhaa]

I hope I’ll soon understand what he said here

[riyamehta]

He is saying that if you offer a guarantee on your products or services that (it will work/ won't get damage) then instead of that you can make a page write insurance/ guarantee of this product or service and sell it for 5- 10% of the price of the product.

[Adam-pvqn]

I must admit, I'm not as enthusiastic about this tactic. I'd much prefer to include a guarantee as part of the offer, rather than as an additional purchase. I worry that making the guarantee an additional purchase might lead clients to believe that they won't achieve success or receive good service unless they buy it. This could potentially create negative sentiment and decrease conversion rates, outweighing any potential gain. However, that's just my perspective. I like to hear your thoughts on this matter. Is there something I might be overlooking?

[janetspiteri]

Guarantees are mandatory by law in many places you can upsell an extended guarantee

[sangmang]

Its crazy how successful people monetize advice .. and then make more money.

[BWBGarage]

How would you do this for a service related business? All examples you have are product related.

[jamesmac]

How could you apply this to food and beverage?

[EHJ_BrainFog]

How does a "health coach" provide / offer a guarantee?
I can on a ticket to an event, a lawyer on writing a will, but a gym coach or a health coach?

[dankelly]

What does that look like for a course/info product or coaching?

[Davidgentry]

OK I will give you an example…
I own a recruiting agency. The payment terms can fluctuate, but this is what it looks like.

20% of annual salary. Net _#_ day payment terms and a 90 day guarantee period. ( So they’d receive a prorated amount refunded if the candidate doesn’t work out)

To apply what Alex is suggesting, I would charge the customer a fee for the guarantee period, in addition to my standard fee. Example 20% of annual salary + 5% 90 day guarantee fee.

[bombartem]

So...
You need to have a business that all ready sells products and when someone buy you sell him bonus-guarantee on a product they buy for 5-10% to cover the wages of Sales person?

[hustlersmindsetofficial]

And would you refund the full amount or just the offer price?

[oussamasaci]

Can someone explain this to me, please?

[Archer-hgrw]

What if they come back to you with a product defect😅

[MarissaCarterArtist]

Ok long twisted vague way of saying somethings...I try but that's straight forward. 😅😊

[Dionst]

I dont get it 😢 someone please explain

[runningfromcomfort]

How could a lawyer include such a guarantee on services?

[Z_hri]

instructions unclear, i just filed for chapter 11 bankruptcy

[AoishT]

This is some terrible advice. Only attempt this with new customers because a repeat customer is definitely going to get upset if the quality/workmanship guarantee is now an additional charge. It is also potentially illegal, depending on the services you are providing.

[blackjack]

And then you get a refund and lose 10x 😂