Why I've Been Stuck At ~$30M/Yr for 3 Years | Ep 229
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Revenue Plateau
Alex Hormozi shares his struggle with maintaining a $30 million revenue plateau over the past few years. Despite various attempts to innovate through changes in offers, price points, and marketing strategies, the company remains stuck at this level. He identifies the core issue as a "people problem," emphasizing that business growth beyond a certain point relies heavily on having a competent team.
It's not an excel problem. It's a people problem. And virtually all problems in business are people problems.
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Alex acknowledges the need for smarter, more capable team members to drive the company forward 1 2.
The Chinese Rule
The concept of the "Chinese Rule of Three and Ten" is central to Alex's understanding of business growth. This rule suggests that systems break every time they triple in size, which is a challenge Alex faces as he aims to scale from $30 million to $100 million. Despite his frustration, he sees this as an opportunity to identify what is missing in his current approach.
Systems break essentially every time you triple them.
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This principle guides his efforts to overcome the stagnation and push towards the next revenue milestone 3 1.
Mentorship Insights
Mentorship plays a crucial role in Alex's journey to break through the revenue ceiling. He reflects on advice from mentors who stress the importance of building a team that can independently manage and lead. Alex is focused on finding individuals who can proactively identify and solve problems, thereby completing the loop of effective team management.
Does this person totally take the doing away from me? Does this person totally take the management away from me?
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By empowering his team, Alex aims to create a self-sustaining business model that can scale effectively 1 4.