Frank
Appearances
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
My name is Frank. I sell luxury watches to other watch dealers. Oh, B2B. B2B, yes. Got it. Our revenue last year was $88 million, and our margin is 3%. So I would like to... It's jewelry. I get it. It's the type of business. Yeah. So I would like to double our revenue. And obviously, you just need to sell double the inventories, double the watches.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
And right now, we are capped because I'm actually the person who gets good leads. Because in order to make money, you need to buy cheap and sell either high or low. So I'm not able to give up my proprietary deal flow. Because somebody can just take it and do it themselves. Because in this industry, price is most of the competitive advantage. Branding is not that much.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
Right. So I'm able to get good price, sell reasonably. But right now, my time is pretty capped. And we are trying to double it. I'm trying to figure out what's the best way to do it.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
That's what I, that's what being trying to do. Okay. My time will be kept of these proprietary leads because I want to double my proprietary leads.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
Yeah. Another business model we've been doing, we've been trying for the last year is we partner with other people who get leads, but they don't have money. And we just partner on deals. These are doing pretty well, but the caveat is that they will over-declare their cost. Or if they will under-declare their price. Sure. They will undercut you.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
They will give you a fair cut, but they won't give you everything. Uh-huh. Is this just a feature or it's a bug? It's a feature. It's a feature.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
Got it. So right now I have two options, right? One is partnership. One is VA. There's, if I have to prioritize one, what would I do is.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
Yeah, it's a short-term relationship.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
can you elaborate more or can you, can you,
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
Right. So they are basically just talking to other wholesalers and bringing deals? Yeah. They're just going to do what you do. Okay. But then I'm still the person who evaluating the deals, right?
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
Okay, the tricky part is that the price fluctuate day by day, and somebody has to be in the business to understand what's the reasonable price to buy. Yeah, feature. Feature.
The Game with Alex Hormozi
The Fastest Way to Grow Is Simpler Than You Think | Ep 887
Yeah, that makes sense. Yeah. Thank you.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
Merry Christmas to you and George, Dave. Thanks for taking our call.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
Well, Linda and I began overgiving about seven years ago. We were in a restaurant, and on the way in, we noticed a van, a couple of people in the van, young children. And they stayed out there. We went in. We had our dinner. And they came in just before we finished our dinner. They finally came in. They talked with the owner and the server.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
They were trying to bargain for two buffet payments for a meal to feed them two and their three kids. And so we're in earshot of this, and we heard what was going on. And finally, the... The owner finally agreed to have the minimum take some stuff for the kids. But then we went over to the table as we finished our dinner.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
We went over to the table and we wished them Merry Christmas and Happy Holiday. And we told them that we will buy all five of their meals. And we told them. the server that was going to be on us, and we were going to pay for it. And we then emptied our pockets of whatever cash we had, which was just over $100 or so, and we gave it to that couple.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
They definitely seemed to be maybe passing through, definitely destitute, and looking for a need. So we responded.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
Absolutely. And, and that changed our life after that. We were, we were, had already been a millionaires a little bit before that. And, uh, we said, you know, we're just not getting enough where we have no children. There's, there's no one for us to leave this to except our nieces and nephews, which, you know, we do help on occasion.
The Ramsey Show
It’s Our 2024 Annual Giving Show!
And we said, you know, we need to just give better, give more, give better, better tipping, better involvement with certain causes, you know, charities and veterans associations because, you know, I'm a veteran and, you know, we need to boost up the population.