These days, Alex Hormozi is known almost as much for those Breathe Right nasal strips as he was for that epic mustache. I always thought it was odd that he would just film new YouTube videos wearing those things, as if it’s totally normal, and never say why. Being the masterful marketer he is, I figured it was just a ploy to get people’s attention. And maybe that’s part of it, but he did finally address it: lo and behold, Hormozi’s a snorer, and these nose strips actually help.
I know, I know. I feel like I came back from the future and I’m mad about what I saw. Surely those nose Band-Aids were a key ingredient to his success, I thought. But no. Just a tool being used exactly as directed so Leila doesn’t have to listen to that big bear of a man saw logs all night. The good news, however, is, in typical Alex fashion, he didn’t just stop there. He actually laid out a pretty comprehensive plan for what he would do if he were to launch his own nose strip business.
First, why even consider it? Margins. They cost pennies to make and you can sell ’em for 100x that much. Second, it’s sticky. Literally but also figuratively. It’s a product someone could potentially use daily, forever. Third, there’s no willpower required to use ’em. Stick it on your nose before bed. Easy peasy. Fourth, as an avid user of this product for years now, he knows exactly what he likes and dislikes about the current brands that are out there. He could easily make some tweaks to improve the experience.
Now. If Alex were to actually go through with this, what would he do to stand out? He’d incorporate some sorta unique branding across the top of each strip. Maybe he’d start off marketing to entrepreneurs and put words like grit or persist or endure on there. “I like having those constant daily subconscious reminders,” Alex says. “They actually found in sales rooms that having a single word on the wall affected performance from the team. Anyways, I’d have it spelt backwards so they could see it in the mirror.”
Alex would wanna be on the premium end of the market. Maybe he’d sell a 30-pack for $19.99. Subtract cost of goods sold and shipping, and you’re looking at, what, $15-, $16 profit per pack? Which is outstanding for a physical product already, but now you add in your upsell: a discount on ordering more boxes, right now, in bulk. More you buy, more you save, right? So that’s gonna bump the average order value by quite a bit right there. And yeah, Alex sees zero reason why this wouldn’t be a $1 million dollar a year business.
But I want you to really understand the brilliance in what he’s saying so you can apply this to your own business. “The brand would really be a personal development brand,” Alex explains. “Like becoming the person you want to be. And the brand could be like BeBetter Nose Strips. Short and simple that people could understand and share. You want it to be about the prospect; more specifically, about the problem that we’re solving and the person that they wanna become and the promises that we’re fulfilling.”
“If you can help someone feel better about who they are? People will pay anything for that feeling. So yes, with this [hypothetical] product, we’re helping people breathe better, but the promise is that we’re helping them be better.” Jesus. That guy will business your balls off if you’re not careful. No really, you should wear a cage around your balls when he gets ta talkin’ or else you might find yourself ball-less. Be sure to subscribe to him and Leila on YouTube so you don’t miss anything going forward.