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Unlocking Business Potential with Alex Hormozi's 'More, Better, New' - Insights by Chris Spear
•Chris Spear•Season 5•Episode 211
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In this solo episode, host Chris Spear delves into the 'More, Better, New' principle, a concept coined by entrepreneur Alex Hormozi. Chris applies this philosophy to his own business, discussing its impact on decision-making and efficiency, particularly in the realm of marketing his personal chef business. This episode offers valuable insights for entrepreneurs and culinary professionals looking to streamline and enhance their business strategies.
SPONSOR INFO United States Personal Chef Association This episode is sponsored by the Unites States Personal Chef Association. Visit their website and use code "EarlyBlackFriday23" to save $100 on premier, provisional, and preparatory memberships.
More, better, new. If you're a member of Mozi-nation, you know what I'm talking about. It's a principle coined by Entrepreneur Alex Hormozi. Today I want to break it down for you illustrating how I use the concept to stay focused growing my business. This is Chris Spear, and you're listening to Chefs Without Restaurants, the show where I usually speak with culinary entrepreneurs and people working in the food and beverage industry outside of a traditional restaurant setting. I have 31 years of working in kitchens, but not restaurants, and currently operate a personal chef business throwing dinner parties in the Washington DC area. I'm not gonna spend a lot of time talking about who Alex where Mozi is, but he's an entrepreneur who's built and grown businesses with a lot of success. He's released two books and full courses online, million dollar offers and million dollar leads. I'll link those in the show notes. You should also check out his YouTube channel and podcast, they are great if you have a business or are looking to start one. So more better new is a concept he talks about. It seems like our brains are always looking for the next big thing. I don't know about you. But for me, maybe it's the ADHD factor. Or maybe it's the common tendency to be attracted to the new and exciting. But I think there's a huge value in looking at what we're already doing well, and trying to improve that. Let me give you an example. With the marketing of my personal chef business. I've seen consistent successes with my email list. Whenever I send out an email, I see real results in terms of bookings. Just last week, I sent out an email and within 30 minutes, I had a previous customer booked another dinner, that will literally net me hundreds of dollars. Yet, despite knowing this, I still find myself not sending those emails as regularly as I probably should. There's always that voice in the back of my mind, tempting me with other ways to spend my time. My brain says maybe today's the day I post a video on Tik Tok, and it'll go viral. Or how about putting more energy into LinkedIn? Everyone's doing that now. Right? And even if I did go viral on Tiktok, is that where my target customer is? What are the chances that it actually converts into paying customers for my in person service? Sure, it could happen. But I know that people on my email list are qualified leads who've already opted in, and many of them have already paid for my service. And this isn't to say that tick tock, LinkedIn and Instagram aren't worthwhile. They have their place. But when I have something like an email list that I know that works, it makes sense for me to focus more on that more, why not increase the frequency of those emails from monthly to weekly, then is that working, maybe start sending them twice a week. Now with something like emails, it's about finding that balance, sending enough to keep my services top of mind, but not so many that it's annoying, and people unsubscribe better. As I see some successes and have been doing them more? How can I make them more effective. With emails, that would mean maybe learning more about email marketing to improve open and click through rates, or working on copywriting skills. It's refining and improving an existing skill or tactic, not adding new tactics just yet. Then, after you've maximized the potential of that one, current skill or strategy, fine tuning for better performance, then you can consider exploring new avenues, pick one new thing and apply more better new again, I know it might sound pro email list and anti social media here. And I'm not saying social media as a marketing tool doesn't work. Maybe it's been wildly successful for you and you should focus on Instagram or Tiktok. One of the caveats here is that if you're using more better new, you need to assess how much of the process is in your control. Let me explain. Right now a lot of people are talking about Instagrams algorithm and how their reaches down. I'm not going to do a deep dive into this. But I would also agree. So taking Instagram trying to apply more better new, should I make more content post five times a day instead of three? Should I focus on making better photos or more engaging captions? For me, the answer is going to be no. Even though I already have a decent following on Instagram, I don't think I've ever gotten a job leads strictly because of it. For my personal chef business, my page has almost 4000 followers. And then I post a photo and these days I'm getting like 17 Likes 30 Likes 24 Likes. Maybe my content is garbage. But also it's an Instagrams best interest to keep people in their app posting more and consuming more like Instagram with an email list. You have a number of variables when to publish, what is your subject line, but it has a 100% distribution rate. Meaning when I hit send, I know that every single person on my email list is going to get it. They might not see it. They might skip it. They might not open it, but at least it's in their feed and hopefully not in their spam folder. So I have more control over that than something like a social media platform. I wanted to keep this episode short and actionable. I hope it was helpful for you. I think this message is crucial for anyone looking to grow their business. Today, go look at what you're doing and see if you can apply the principle of more better knew. And it's not just related to marketing. If you wanted to be a better chef, take something like say butchering, do more of it, maybe focus first on breaking down chickens, do more chicken butchery and then work on your technique, refine it, and then go back and do more of it at that higher level. And then turn your attention to something like breaking down porque. And if I'm not as active on social media, as I've been in the past, know that it's because I'm investing my efforts where I know they count. Seriously, if you're looking to build or grow business, go check out Alex Hormoz his content, I think you'll find a lot of benefit in it. And I'm truly grateful for the time that you spend with me here. If you want to get in touch. I'm available on Instagram at Chefs Without Restaurants. Or you can send me an email at chefs without restaurants@gmail.com. Thanks so much for listening, and have a great week. You're still here? The podcast's over. If you are indeed still here. Thanks for taking the time to listen to the show. I'd love to direct you to one place and that's chefs without restaurants.org. From there, you'll be able to join our email newsletter. Get connected in our free Facebook group, and join our personal chef catering and future work database so I can help get you more job leads. And you'll also find a link to our sponsor page where you'll find products and services I love. You pay nothing additional to use these links, but I may get a small commission which helps keep the Chefs Without Restaurants podcast and organization running. You might even get a discount for using some of these links. As always, you can reach out to me on Instagram@ChefsWithoutRestaurants or send me an email at chefswithoutrestaurants@gmail.com Thanks so much
