Mohamed Fatah
Appearances
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
Yes, make it. Perfect. Hey, Alex. Hello. Thank you for the content you create. My name is Mohamed Fatah. I'm the founder of Elfen. What? I'm the founder of Elfen. Elfen? Yeah. Okay. So basically, we sell tools to creators how to make more money. And we also simplify how brands collaborate with creators.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
So software and agency tools. So we have a music label, a creator agency for big creators, and then a platform as well. So I'm coming to that just in a bit. I know the focus topic. We made around 4.3 million last year. And basically my goal is try to get to a hundred million.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
1 million for the creator agency, 1.3 million for the music label. And then the rest is on the brand side.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
But basically what I've been doing is that I realized the disruption of AI that's kind of coming in.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
I also saw the scalability of what we were doing because I've been in the YouTube space for a while. So a lot of these services aren't going to be scaling as much. So in the past two years, I've been taking that profit and putting it into a tech platform. Basically, it's like a creator store where you can sell your services, digital products, but also items that you love.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
So the skincare that you use, the hair cream, the shoes, and you earn a commission. And we use all of that data to make it easier for brands to know what creators to work with. Because right now in influencer marketing, it's like a spray method, right? I'm going to pay.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
I have no idea how much conversion they're going to actually get me, but our integration shows you for a thousand clicks, they get you these number of visitors and then they end up buying. My challenge here right now is that I'm trying to scale that business. But my business model is we make money when you make money. So on the brand side, we get a 15% commission or a margin on all the spend.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
And on the creator side, we get around 8% from whatever they make with their fans by selling these digital products and courses or affiliate links. My issue here is I got 40,000 creators, but only 1,000 are making money. And I've been kind of struggling between going on a SaaS model to be able to scale.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
Because when I do any social marketing, we get a creator that comes on board, but they don't make money right away. And the longer it takes you to recoup your ad spend is not usually a good metric for scalability. So I'm kind of pivoting. Should I go into a SaaS model? Where whatever I make from the creator, I'll just be like, hey, just pay me that price and I take 0% from you.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
And then I just charge the brands the commission to collaborate with those creators. This way I can scale the business in a much faster. Say the last part again. So instead of me making percentages from creators. Yeah. I provide them the same tools that a lot of them make money. And I keep 0%.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
But then let's say they have to pay like 20 bucks a month.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
But then I still make my money on the upside on the brand side by connecting them with these creators.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
Because right now, I have 40,000 creators who signed up, but I'm really making money off 1,000.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
So I'm still thinking of a free tier and a paid tier with some minor benefits. But then if you really want to make money, you got to end up paying subscriptions.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
Just the path of least resistance to getting to 100 million.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
What do you mean?
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
Perfect. Thank you. You just validated my thoughts. Oh, good. I just want to make sure I'm thinking the right way.
The Game with Alex Hormozi
Make Your Offer So Good They Feel Dumb Saying No | Ep 884
Perfect. Thank you.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
And I've been kind of struggling between going on a SaaS model to be able to scale because when I do any social marketing, we get a creator that comes on board, but they don't make money right away. So it's not like, you know, the longer it takes you to recoup your ad spend is not usually a good metric for scalability. So I'm kind of pivoting. Should I go into a SaaS model?
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
where whatever I make from the creator, I'll just be like, hey, just pay me that price and I take 0% from you. And then I just charge the brands the commission to collaborate with those creators. This way I can scale the business in a much faster... Say the last part again.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
So instead of me making percentages from creators, I provide them the same tools that a lot of them make money, and I keep 0%.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
But then let's say they have to pay like 20 bucks a month.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
But then I still make my money on the upside on the brand side by connecting them with these creators.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
Because right now, I have 40,000 creators who signed up, but I'm really making money off 1,000.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
So I'm still thinking of a free tier and a paid tier with some minor benefits, but then if you really want to make money, you got to end up paying a subscription.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
Just the path of least resistance to getting to 100 mil.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
Perfect, thank you. You just validated my thoughts, so thank you. Oh good, I'm glad. Just wanted to make sure I'm thinking the right way.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
Hello. Thank you for the content you create. My name is Mohamed Fatah. I'm the founder of Elfan.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
I'm the founder of Elfan. Elfan? Yeah. Okay. So basically we sell tools to creators to help them make more money. And we also simplify how brands collaborate with creators.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
So software and agency tools. So we have a music label, a creator agency for big creators, and then a platform as well. So I'm coming to that just in a bit. I know the focus topic. We made around 4.3 million last year. And basically my goal is to try to get to 100 million.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
One million for the creator agency. 1.3 million for the music label. And then the rest is on the brand side.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
Exactly, connecting it both. But basically what I've been doing is that I realized the disruption of AI that's kind of coming in. I also saw the scalability of what we were doing because I've been in the YouTube space for a while. So a lot of these services aren't going to be scaling as much. So in the past two years, I've been taking that profit and putting it into a tech platform.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
Basically, it's like a creator store where you can sell your services, digital products, but also items that you love. So the skincare that you use, the hair cream, the shoes, and you'll earn a commission. And we use all of that data to make it easier for brands to know what creators to work with. Because right now in influencer marketing, it's like a spray method, right? I'm going to pay.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
I have no idea how much conversion they're going to actually get me, but our integration shows you for a thousand clicks, they get you these number of visitors and then they end up buying. My challenge here right now is that I'm trying to scale that business, but my business model is we make money when you make money. So on the brand side, we get a 15% commission or margin on all the spend.
The Game with Alex Hormozi
Take The High Leverage Opportunities | Ep 833
And on the creator side, we get around 8% from whatever they make with their fans by selling these digital products and courses or affiliate links. My issue here is I got 40,000 creators, but only 1,000 are making money, right?
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
Thank you for the content you create. My name is Mohamed Fatah. I'm the founder of Elfan. Okay. So basically, we sell tools to creators to help them make more money. And we also simplify how brands collaborate with creators. Okay.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
So software and agency tools. So we have a music label, a creator agency for big creators, and then a platform as well. So I'm coming to that just in a bit. I know the focus topic. We made around $4.3 million last year, and basically my goal is to try to get to $100 million. What's the split between the three in terms of revenue?
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
$1 million for the creator agency, $1.3 million for the music label, and then the rest is on the brand side. My issue here is I got 40,000 creators, but only 1,000 are making money. And I've been kind of struggling between going on a SaaS model to be able to scale because when I do any social marketing, we get a creator that comes on board, but they don't make money right away.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
So it's not like the longer it takes you to recoup your ad spend is not usually a good metric for scalability. So I'm kind of pivoting. Should I go into a SaaS model? where whatever I make from the creator, I'll just be like, hey, just pay me that price and I take 0% from you. And then I just charge the brands the commission to collaborate with those creators.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
This way I can scale the business in a much faster. Say the last part again. So instead of me making percentages from creators, I provide them the same tools that a lot of them make money, and I keep 0%.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
But then let's say they have to pay like 20 bucks a month.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
But then I still make my money on the upside on the brand side by connecting them with these creators.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
Switch to a subscription, yeah.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
Because right now I have 40,000 creators who signed up, but I'm really making money off 1,000.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
So I'm still thinking of a free tier and a paid tier with some minor benefits, but then if you really want to make money, you've got to end up paying a subscription.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
Just the path of least resistance to getting to 100 mil.
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
What do you mean by that?
The Game with Alex Hormozi
Transitioning From Dying Business Models | Ep 853
Perfect. Thank you. You just validated my thoughts.