Alex Hormozi's Advice on Cold Calling — Transcript

Full transcript

1. 0:00Alex Hormozi is known for scaling his
2. 0:01[music] business Gym Launch to a
3. 0:04multi-seven-figure run rate and a few
4. 0:06years ago he exited [music] the company
5. 0:07for $46.2 million.
6. 0:10And now he has a portfolio of companies
7. 0:12doing over $200 million a year using the
8. 0:14same [music] strategies. After watching
9. 0:16a dozen of his videos and podcasts, I
10. 0:19noticed [music] a consistent theme. Him
11. 0:20and his sales teams mastered the art of
12. 0:22cold calling to grow Gym Launch and his
13. 0:25other businesses as quickly as they did.
14. 0:27The problem is over the years he's
15. 0:28posted thousands of hours of content
16. 0:30online and it would take you days of
17. 0:33your life to sift through it all. So, to
18. 0:34save you a ton of time, I did the hard
19. 0:36part for you and found the best clips of
20. 0:38Alex Hormozi talking about cold calling.
21. 0:40[music] And in this video, we're going
22. 0:42to break down Alex's best advice on cold
23. 0:44calling that you [music] can use to
24. 0:45level up your sales skills. If you can
25. 0:47figure out a way to contact somebody
26. 0:48one-on-one, you can use it for cold
27. 0:49outreach. So, you can knock on 100
28. 0:51doors, make 100 phone calls, you can
29. 0:52send 100 direct messages, you can send
30. 0:54100 voicemails. And it worked 100 years
31. 0:55ago, it works today, and when the
32. 0:57platforms change, it will work tomorrow.
33. 0:59>> The reason why that's true is because
34. 1:01cold calling is just a human
35. 1:03conversation. And so, there's really no
36. 1:06replacement for [music] human
37. 1:08connection. Even with all the AI stuff
38. 1:11coming out, it's going to be really,
39. 1:12really hard to do that. Cold calling
40. 1:14will just never go away because human
41. 1:16communication will never go away. So,
42. 1:18cold outreach has one key difference
43. 1:20from warm outreach. Trust. Strangers
44. 1:22don't trust you, all right? They don't
45. 1:24even know you. You're just a weirdo. And
46. 1:26in the past, weirdos and strangers are
47. 1:27danger, all right? So, we have to bridge
48. 1:29that gap of stranger danger in as short
49. 1:31a time as possible to get them to know,
50. 1:32like, and trust us so they will
51. 1:33eventually do business with us, all
52. 1:35right? You know, that trust gap is
53. 1:37exactly where a lot of reps struggle.
54. 1:39How do you build trust in the first 7
55. 1:41seconds of the conversation, right? The
56. 1:43first things that come out of your mouth
57. 1:45are the most important thing. You just
58. 1:47need to build enough trust for them to
59. 1:49allow you to go into your pitch. That's
60. 1:51where you can build up your status,
61. 1:53alignment, credibility, intrigue, and
62. 1:55curiosity as to why they should listen
63. 1:57to you. And then from there, that's when
64. 1:58you can drive them to an outcome. They
65. 2:00didn't like us before, so we personalize
66. 2:02it, and they don't trust us, so we have
67. 2:03to provide big fast value, okay? And so,
68. 2:05the key difference between people who
69. 2:07know you and strangers is that strangers
70. 2:09give you less time to prove your worth.
71. 2:11When a family member calls, if they just
72. 2:13waste your time, eventually you're like,
73. 2:15all right, man, I got to go, right? Just
74. 2:17like, okay, this is not worth my time.
75. 2:18Someone you're familiar with, you give
76. 2:19more time. Someone you're less familiar
77. 2:20with, you give less time. Someone you
78. 2:21don't know, you give seconds.
79. 2:23Right? It's just a spectrum. And so,
80. 2:25here's how you do it. You give away the
81. 2:26farm. We're not trying to tickle their
82. 2:28interest, we're trying to blow their
83. 2:30minds in under 30 seconds with the value
84. 2:31that we're going to provide them.
85. 2:32>> The first 7 seconds, you kind of have to
86. 2:34say the same magic words over and over
87. 2:37again, but then it's really in your
88. 2:3930-second kind of riff, you know, pitch
89. 2:41if you will, high-level pitch, big idea
90. 2:43pitch, that you need to create that
91. 2:46curiosity, intrigue, show that you're
92. 2:48someone competent to solve their problem
93. 2:51to the point where you probably know the
94. 2:53problem better than they do. And so,
95. 2:55that's when they're willing to open up
96. 2:57and take action because you've built
97. 2:58that value up front. If you are new to
98. 3:00outreach on the team, shout out to the
99. 3:02best guy on the team, and then double
100. 3:04their inputs. So, if they make 200
101. 3:06calls, make 400. And if that means you
102. 3:08work more, duh, right? You're going to
103. 3:10suck before you're good, and you can
104. 3:12make up for your lack of skill with
105. 3:13volume faster. Volume negates luck. And
106. 3:16when you do twice as many, you get good
107. 3:18in half the time. Look at what the best
108. 3:19guy does, copy it exactly with twice the
109. 3:22volume, and then until you beat that
110. 3:24guy's numbers or that gal's numbers,
111. 3:26don't change anything. And then, once
112. 3:28you have enough mastery, then you can
113. 3:30you can get cute with it. I've seen way
114. 3:31too many reps who will try to freestyle
115. 3:34right at the beginning of their cold
116. 3:36calling journey. They say they're trying
117. 3:37to find their voice. But to Alex
118. 3:40Hormozi's point, you're not good enough
119. 3:42to be yourself. And so, until you've put
120. 3:45in those 10,000 reps, you really should
121. 3:48stick to whatever screenplay or script
122. 3:51that you've been given,
123. 3:52and then iterate off of that, just like
124. 3:54what Alex Hormozi says. It's not just
125. 3:56about working harder, but it's also
126. 3:58working smartly as well. Don't put 1,000
127. 4:01into a list that's completely dead or
128. 4:03they're all non-decision makers. Be
129. 4:06self-aware enough to catch when those
130. 4:08things are happening, but really volume
131. 4:11is the baseline to even figure that out
132. 4:13in the first place. If I were to
133. 4:16give you a script like, you know, Jerry
134. 4:19Seinfeld's comedy script, and you were
135. 4:21to get on stage and you were to try to
136. 4:22deliver that, right? The tone, the
137. 4:24pauses that you would have would not be
138. 4:26the same as his, right? His intonations
139. 4:28would be different than yours are. And
140. 4:30so, as a result, he would be funny and
141. 4:31you would not be, and you'd be wondering
142. 4:33like, well, this worked for Jerry, why
143. 4:34is it not working for me? And so, just
144. 4:36like that, you may be looking at your
145. 4:37team and wondering like, well, this
146. 4:38works for me, why is it not working for
147. 4:40them? And you're looking and they're
148. 4:41saying the words, but you're like, why
149. 4:42is this not working? It's because
150. 4:43they're saying them the wrong way. It's
151. 4:45so funny cuz that's exactly what will
152. 4:47happen when a new rep comes on board,
153. 4:49they'll say, "Hey, I'm saying the exact
154. 4:51same words that are on the piece of
155. 4:52paper you gave me." It's not about what
156. 4:54you say, it's about how you say it.
157. 4:56About 85% is the delivery of your script
158. 5:00or screenplay, and then 15% is really
159. 5:02the spoken word. The pauses, the
160. 5:04intonations, the emphasis, the tonality,
161. 5:08the volume of how loud you speak. So,
162. 5:10all those play into how effectively you
163. 5:13can communicate your message to the
164. 5:15prospect.
165. 5:16>> Everyone here, hopefully, has been on a
166. 5:17hot streak at some point. Like, there's
167. 5:19some days you get on the phone you're
168. 5:20like, man, I can just close anyone right
169. 5:22now. When you are hot,
170. 5:24those are the videos you should watch.
171. 5:26That's the game tape footage that you
172. 5:28should go over and over and over again.
173. 5:30When you're hot, you say things
174. 5:32differently. You pause at different
175. 5:34points, and it's those micro nuances
176. 5:37that create master salesman. Great
177. 5:39salesman never get cold, they are always
178. 5:41on a hot streak because they know how to
179. 5:43recreate success. People ask me all the
180. 5:45time, Mike, how do I get out of a slump,
181. 5:47right? Cuz the slump's going to happen,
182. 5:48the sales slump definitely happens. The
183. 5:50quickest way to get out of a slump is to
184. 5:53play those call recordings over and over
185. 5:56and over and over again until you can
186. 5:58emulate the exact not just words and
187. 6:00like delivery, but like the energy and
188. 6:02the spirit of those calls. There's
189. 6:04plenty of softwares out there that can
190. 6:06like record your calls for you, like
191. 6:08dialing platforms. Personally, the one I
192. 6:09use is Glenn Coco. I'll have Glenn
193. 6:12Coco's AI score my calls and give me
194. 6:14coaching feedback, and then I can also
195. 6:16favorite calls right here and then flip
196. 6:19back to them at any point. Whenever I'm
197. 6:21having a slow week or slow month, right?
198. 6:23I can have my short list of call
199. 6:24recordings when I was on my hot streak.
200. 6:27>> And so, my sales team would watch this
201. 6:28happen, and then they would get on the
202. 6:30phones and they would be so convicted
203. 6:32about what they were selling. And so,
204. 6:33this leads into the two ways that you
205. 6:35can fix this, right? So, number one is
206. 6:37you become a master salesman. You become
207. 6:38a master salesman through repetition and
208. 6:39through studying game tape footage,
209. 6:40which is the first thing I said. The
210. 6:42second way, and the faster way of doing
211. 6:44this, is to believe in what you sell.
212. 6:46This is hard. I'll be real with you,
213. 6:47right? This is This is hard for a lot of
214. 6:49people, especially if you're a business
215. 6:50owner, because you know all the problems
216. 6:52in your business. They're always going
217. 6:53to be problems, and those aren't going
218. 6:54to go away. Yeah, I couldn't have said
219. 6:55it better myself. You have to believe in
220. 6:57what you sell. It's also just
221. 6:58environment. If you're around other
222. 7:00people that also believe in what you're
223. 7:04pitching and you're selling and you're
224. 7:06providing for customers, then it becomes
225. 7:09a lot easier to you yourself believe.
226. 7:12But if you're in a situation where
227. 7:14you're surrounded by other sales reps
228. 7:16who don't believe in the product and
229. 7:18believe they're just here to make a
230. 7:19buck, then it's going to be harder to
231. 7:21cultivate that belief above the status
232. 7:23quo. So, find a team that truly believes
233. 7:26in their product, their service, the way
234. 7:29they sell, and it's going to be a lot
235. 7:31easier to cultivate that as you're
236. 7:33getting, you know, if you're ramping up
237. 7:34into a new role.
238. 7:35>> I couldn't help but give you one of my
239. 7:37favorite outbound scripts I've ever
240. 7:39heard, which is "Hey, business, I'm
241. 7:43calling about competitor,
242. 7:45period. Give me a call back."
243. 7:48So, think about this. Imagine you have a
244. 7:50dry cleaning business, and it's Tom's
245. 7:52Dry Cleaners, that's you. And you've got
246. 7:54Jones Dry Cleaning across the street,
247. 7:56and you get a call being like, "Hey,
248. 7:58this is Alex. I'm calling in regards to
249. 8:00Jones Dry Cleaning. Uh give me a call
250. 8:03back when it's convenient." You're like,
251. 8:05so incredibly curious that somebody has
252. 8:08left a message and they want to talk
253. 8:10about your competition. Because you have
254. 8:11this personalized uh message that you're
255. 8:14sending, which works via email, it also
256. 8:16works via uh voicemail, uh the
257. 8:18likelihood
258. 8:19is way, way higher.
259. 8:20>> That's pretty good. It's pretty good.
260. 8:22It's novel. I don't think very many
261. 8:24people are doing it. It's simple. If
262. 8:25you're going to do it via voicemail,
263. 8:27typically, you're going to want to use a
264. 8:28tool like some sort of like drop
265. 8:30voicemail tool where you can send out a
266. 8:33a hundred of those or automatically
267. 8:34after every single call, so you're not
268. 8:36actually doing that for each individual
269. 8:39call. There is a world where maybe you
270. 8:40have a smaller, tighter list, and it's
271. 8:43very targeted where you're not making
272. 8:45thousands of calls, so that's where you
273. 8:47could actually just pick up the phone
274. 8:48and and leave a voicemail like that. But
275. 8:50that's uh it's a fun little technique.
276. 8:52And the last one, and this one is so
277. 8:53unsexy, and because it's so unsexy, no
278. 8:56one does it, which is why you make so
279. 8:57much money doing this, which is you prep
280. 9:02for 5 minutes before the call looking up
281. 9:05stuff about the person or the business.
282. 9:07And so,
283. 9:08if you're a setter, you can do this for
284. 9:10the closer, or a closer, you can do this
285. 9:13for yourself prior to the call. 5
286. 9:15minutes of prep in addition to, and this
287. 9:17is clear, all the notes that the setter
288. 9:20sets should be in the CRM. So, by
289. 9:23setting this seamless experience from
290. 9:25click to close, from setter to closer to
291. 9:27to onboarding, create an amazing process
292. 9:30for prospects to go through.
293. 9:32>> Yeah, this is really money. We train our
294. 9:34setters to make their notes as
295. 9:36meticulously detailed as possible. By
296. 9:39the time they got on the call with the
297. 9:41closer to do a warm handoff, to
298. 9:43transition the prospect to the closer,
299. 9:45there was enough information to have a
300. 9:48really nice beachhead for the
301. 9:49conversation, right? Whether that was
302. 9:51building rapport on a personal level or,
303. 9:54you know, whatever was relevant and the
304. 9:56reason why they actually took the call
305. 9:57in the first place. And then on top of
306. 9:59that, for the setters, they have a tool
307. 10:01to basically surface all the relevant
308. 10:04information on the prospect before
309. 10:05actually making the call. So, when reps
310. 10:07log into their dashboard, all the
311. 10:10relevant information on the company is
312. 10:13at at their fingertips. So, the
313. 10:15prospect's LinkedIn, you know, any
314. 10:17recent news about the company, what's
315. 10:19the size of the company, you know,
316. 10:20where's the company located. Having that
317. 10:22easy easily accessible is really big for
318. 10:25for the setters as well. And on that
319. 10:27note, if you want to watch how I
320. 10:29actually research before cold calls in
321. 10:31real life, click the video here to go to
322. 10:33the next one and check out some banger
323. 10:34cold calls to see how a pro does this.
324. 10:37In that video, I booked 10 sales calls
325. 10:38live and show you the entire process
326. 10:40start to finish so you can literally
327. 10:42just copy me. So, we'll see you over
328. 10:43there.