Discover the 6-step process I used to come up with a new business idea, with help from Alex Hormozi

In this newsletter, I’m diving into the blueprint for crafting irresistible offers ala Alex Hormozi style.

By the time you’re done reading, you’ll see how I crafted a new business idea, using the lessons I learned from $100M Offers.

And just to be clear, I haven’t tested this offer to the market yet. So I can’t really say that this idea is indeed irresistible (so far).

If that’s fine with you, feel free to continue reading.

Three months ago, during my quarterly planning session, I decided to push myself out of my comfort zone.

My personal strategy for this year was to embrace riskier, more challenging tasks and try things I haven’t done before.

I knew I needed to monetize my online business to achieve this goal.

So, with the end of the quarter approaching, I picked up Alex Hormozi’s book $100M Offers for the second time, and everything clicked.

Now, let’s look first into what makes a “Grand Slam Offer” and the key lessons I learned from Hormozi's book.

Main Lessons from $100M Offers

Grand Slam Offers are:

• Unmatchable in Value Proposition

• Unbeatable in Guarantee

• Uniquely Tailored and Super Niche, making them almost impossible to replicate.

Here’s the core Value Formula from the book:

Value = (Dream Offer x Perceived Likelihood of Achievement) / Time Delay x Effort & Sacrifice

Breaking it down:

1. Dream Offer: The more desirable the outcome, the higher the perceived value.

2. Perceived Likelihood of Achievement: Customers need to believe the offer will help them achieve their dreams.

3. Time Delay: Quicker results are preferred.

4. Effort & Sacrifice: Minimizing perceived effort increases the offer’s value.

With those core principles in mind, I was ready to put them into action.

Here’s a step-by-step breakdown of my attempt to create a Grand Slam Offer, using Hormozi’s blueprint.

Step-by-Step: Building My New Business Idea

Step #1: Identify Dream Outcome

I started with a clear goal: “To help part-time content creators on Threads double their content output in 30 days.”

Now, answering this was the hardest amongst everything.

So I highly suggest you spend the most time in clarifying the “Dream Outcome“.

Everything else will follow.

Pro Tip:

Spend some time to answer these before building your offer:

1. What specific skills or knowledge do you have that you can share with your audience?

2. Have you achieved any notable successes in content creation or related areas?

3. Who is your ideal audience? (e.g., content creators, entrepreneurs, small business owners)

4. What are their main pain points or challenges related to content creation?

Answering these prior makes the offer-making process much faster.

Step #2: List The Problems

I brainstormed every possible challenge that my target audience faces.

The goal: to list everything, good ideas and bad ideas.

Don’t stop and think whether your idea is good or bad.

Your goal here is to list everything in mind.

If you don’t you won’t be able to make a concise list.

Your creativity will get hindered.

You might be familiar with the saying “don't edit while you write“.

Else, you’ll disrupt flow.

Also, don’t worry if you’re having a tough time listing ideas.

I also asked for ChatGPT to help me out.

1. Setting up the ideation system is confusing and overwhelming.

2. Creating an ideation system will consume too much time.

3. Establishing an ideation system seems costly

4. Maintaining an ideation system seems unsustainable

5. Establishing an ideation system is not a priority; other responsibilities may interfere

6. Implementing an ideation system while traveling or during busy periods seems impractical

7. Finding and consuming relevant content feels tedious and uninspiring

8. Consuming relevant content will take too much time

9. Accessing relevant content seems costly

10. Sustaining the habit of consuming relevant content appears challenging

11. Prioritizing relevant content consumption amidst other tasks feels overwhelming

12. Consuming relevant content while traveling or during busy periods seems impractical

13. Capturing content ideas feels disorganized and overwhelming

14. Capturing content ideas will take too much time.

15. Capturing content ideas seems costly

16. Sustaining the habit of capturing content ideas appears challenging

17. Prioritizing content idea capture amidst other tasks feels overwhelming

18. Capturing content ideas while traveling or during busy periods seems impractical

19. Organizing content ideas feels chaotic and unmanageable

20. Organizing content ideas will take too much time

21. How to organize content ideas without spending a fortune, utilizing affordable or free tools to streamline the process

22. Sustaining the habit of organizing content ideas appears challenging

23. Prioritizing content idea organization amidst other tasks feels overwhelming

24. Scheduling content creation time feels challenging and overwhelming

25. Scheduling content creation time will take too much effort

26. Finding the right time to schedule content creation seems elusive

27. Sustaining the habit of scheduling content creation time appears challenging

28. I don't have enough content to write about.

29. Balancing content creation time with other responsibilities feels overwhelming

30. Scheduling content creation time while traveling or during busy periods seems impractical

31. Writing content feels daunting and overwhelming

32. Writing content will take too much time

33. Writing content seems costly

34. Sustaining the habit of writing content appears challenging

35. Finding time for content creation is challenging as a part-time content creator because life happens (family, full-time job, etc.)

36. Prioritizing content creation amidst other tasks feels overwhelming

37. Writing content while traveling or during busy periods seems impractical

38. Writing content takes too much time.

Step #3: Trim the Problems List

Instead of diving deep into each problem, I trimmed the problems list to focus on the most critical ones.

My approach to choosing is mostly based on

1. My personal bias

2. Gut feeling

3. What solutions am I excited to do

I know, not an amazing strategy.

But the thing is, these are just my assumptions. The faster you can test these, the faster success will be.

So from the 35 items, it boiled down to 4 key problems:

1. Problem: Setting up the ideation system is confusing and overwhelming.

2. Problem: I don't have enough content to write about.

3. Problem: Finding time for content creation is challenging as a part-time content creator because life happens (family, full-time job, etc.).

4. Problem: Writing content takes too much time.

Step #4: Solutions List

With the trimmed list, I crafted solutions for each problem:

1. Problem: Setting up the ideation system is confusing and overwhelming.

   • Solution: How to Set Up Your Ideation System Effortlessly and Effectively.

2. Problem: I don't have enough content to write about.

   • Solution: How to Effortlessly Generate and Capture Endless Content Ideas.

3. Problem: Finding time for content creation is challenging.

   • Solution: How to Manage Content Creation Amidst a Busy Schedule.

4. Problem: Writing content takes too much time.

   • Solution: How to Efficiently Write and Publish High-Quality Content.

Hormozi also explained to use a solution-oriented language. And it’s pretty straightforward to apply.

Reverse each problem and then add “how to“. For example:

Problem: Writing content takes too much time.

1. How to

2. Writing content takes too much time = Write content in less time

Now you’ll have “How to write content in less time“.

Of course you can ask ChatGPT to make it sexier.

Solution: How to Efficiently Write and Publish High-Quality Content

Step #5: Create Your Solutions Delivery Vehicles (“The How”)

This is where the magic happens.

I designed personalized, high-value deliverables for each solution:

• How to Set Up Your Ideation System Effortlessly and Effectively

  • Personalized 1-on-1 Ideation Setup Session via Zoom

  • Notion Template for idea capture and organization

  • Weekly check-ins via chat

• How to Effortlessly Generate and Capture Endless Content Ideas

  • Personalized 1-on-1 Content Capture and Generation Session via Zoom

  • The optimized system I use as a part-time content creator

  • Weekly check-ins via chat

• How to Manage Content Creation Amidst a Busy Schedule

  • Personalized 1-on-1 Content Creation Time Management session via Zoom

  • Practical strategies and tactics for integrating content creation into a busy schedule

  • Walkthrough on how I use these strategies myself

• How to Efficiently Write and Publish High-Quality Content

  • Personalized 1-on-1 Rapid Content Creation session via Zoom

  • Step-by-step tutorial on creating templates

  • Elements of a good short-form post

Step #6: Bundle the Solutions

Finally, I packaged these solutions into irresistible bundles with catchy names.

ChatGPT also helped me out on this.

Sometimes its feedback is “cringey” or too obvious that it was from ChatGPT so you have to filter it out.

• Ideation Mastery Blueprint: Unlock creativity and clarity.

• Content Idea Engine: Your unlimited source of creative inspiration.

• Ultimate Content Creation Time Management System: Master your schedule without sacrificing your life.

• Rapid Content Creation Mastery: Streamline your writing process and boost productivity.

Thanks for reading!

While I’m excited about the potential of the offer I’ve created, I’m aware that the true validation lies ahead. 

And what I love about this approach is that it’s detailed enough to share to the market for validation.

I even started building a landing page for it!

In the next few weeks, I’ll be putting this offer to the test to see how it resonates in the real world!

Next week, I’ll show you a quick trick to validate your offer in 4 easy steps and under 15 mins.

Anyway, stay tuned for updates on the results!

I encourage you to apply these strategies in your own ventures as well.

Until then, keep creating and stay inspired!

Best,
Vikko