Researchers Had 3 Different Wines....

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.

[icefire]

don’t tell mcdonald’s i need my dollar menu back

[GoldAaron]

SO lesson - Make Good Wines, Charge High Prices.

[DaysenSouth-zp]

The sad part is i told this to a business owner like 6 years ago, and he didn't get it.

[gabeinthebox]

Also most people can’t tell the difference between expensive and cheap wine.

[WildDetail]

Instructions unclear… now I’m an alcoholic

[withny]

If you don't value your product no one will

[Alchmeitect]

I saw this thing of a dude that bought a wine company that made absolutely trash wine, changes the name and bottle design, upped the price and sent it to a company that rates wines on taste and all that stuff (I don’t know how it works). He got back his wine was a high quality and a really tasty wine, even though nothing was changed taste wise other than price and appearance.

[Topgamer]

Most people can not appreciate/notice the difference. Same with expensive string instruments.

[menarussell]

Yes, plus, some restaurants talk it up, talk about the vineyards, the people who run/own the vineyards or develop the wine, maybe something specific about the grapes or location, the taste, offer the small amout to taste, etc.

This was in a wine test, too, maybe the same test. People thought the wine that was marketed better by the wait staff, was better and were willing to pay more. The label design plays a part as well.

I was a waitress years ago at a nice, privately owned Italian restaurant cwe had a wine seller come teach us about wines and presentation.

[sevensages]

Only if your target audience is wine drinkers!!!

Take that same test to a bunch of beer drinkers
😂😂😂

[beargregor]

It's the exact same thing that happened with the Payless vs Palessi experiment..

[AscendMindz]

Hey Alex, Thanks for the advice man. 🤝🔥

[KevinDees-ke]

Except… They put them in a different sleeve… So there are confounding variables to the “” experiment

[reputation]

That's a dark true even with services make yourself expensive ppl would crave for your help more

[hermes]

Literally read that yesterday from $100M Offers😂

[Jasonmilei-riob]

I would have done this experiment differently. Put the expensive one in the cheapest bottle

[Warona-hl]

People equate high value with a high price.

[matlachaine]

I'm always mad when I learn we were not the most expensive option.

Because I don't want the cheap customers. They buy a cost instead of value, and as such they just complain much more and cost more to manage.

[michaelobrien]

But the expensive wine was position as the premium offering and most people want the best. Also, you have talked about this before, but the pricing model and the gap between cheap, medium and premium also influences people to the solution they think they will prefer or can afford.

[Nick_Taylor.]

Researchers definitely weren't polling people from the Chaine.