Money Minute: Price Anchor

Our reading notes on Alex Hormozi

• How to Price a Service Business So It Actually Makes Money | Ep 1002

  In a conversation about an event service, Hormozi asks how the team separately prices work such as sponsor and vendor management. He proposes a worksheet that turns answers about the scope into a quote. It gives the person preparing a proposal a way to show which responsibility changed the price.

• How to Make Money With Social Media (My Exact Playbook) | Ep 1005

  Hormozi describes a quarter when broader videos attracted attention while book sales, leads and applications fell. His counterexample is a creator who teaches registered dietitians to bill insurers. Small reach can be entirely appropriate when the problem is that specialized. His own sales comparison gives editors a question to test on their own audience.

• I Offered $10,000 to Anyone Who Could Change My Mind | Ep 1013

  Hormozi invites entrepreneurs to challenge rules he has offered publicly. The chapter at 5:23 concerns which customers to sell to. Another, at 24:16, asks how much a founder should stake on one decision. The debate format gives the challenger a concrete job: find a situation in which following the rule produces a poor result.