"Do what you can, with what you have, where you are." - Theodore Roosevelt

Entrepreneurship can be exciting but challenging, especially when it comes to finding your first customers.

How do you get those crucial first leads that will kickstart your new venture?

Warm vs Cold leads

When you’re starting a new business, one of the biggest challenges is finding your first customers. While many entrepreneurs jump straight into marketing tactics that target cold leads, these are people who have no prior relationship with you or your brand, reaching out to warm leads is often far more effective and less intimidating.

So, what’s the difference?

• Cold Leads are people who have never interacted with you before. They don’t know who you are, what you offer, or why they should trust you. Reaching out to cold leads often requires more effort, time, and resources to build that initial trust and credibility.

• Warm Leads, on the other hand, are individuals who already have some level of familiarity with you. They could be friends, colleagues, social media followers, or professional connections. Because they know you — even if just a little — they are more likely to be receptive to your outreach, making it easier to establish trust and start a conversation.

When you’re looking to get your first 5 leads, reaching out to people who know you is far more effective. These warm leads are already aware of who you are and what you stand for, so they're more likely to listen, engage, and even refer others to you.

In this post, we break down Alex Hormozi’s proven 10-step method for getting your first five leads, drawn from his new book, 100 Million Dollar Leads. These practical steps will help you build initial momentum, validate your business further, and leverage your warm contacts, build relationships, and turn those connections into your first paying customers.

Step-by-Step Guide - How to Get Your First 5 Leads

Step 1: Build Your Lists

Before you reach out to potential leads, you need to know who they are. Start by compiling three lists of contacts:

• List 1: Email Contacts – Export all contacts from your email accounts. This includes anyone you’ve communicated with professionally or personally.

• List 2: Social Media Followers – Identify followers on platforms like LinkedIn, Instagram, Facebook, or Twitter who fit your ideal client profile. Make a list of those you can direct message (DM).

• List 3: Phone Contacts – Go through your phone and gather contacts who might be interested in your offer or know someone who is.

By combining these three lists, you’ll have a solid starting point for reaching out to potential leads.

Step 2: Choose Your Primary Platform

Once you have your lists, choose the platform where you have the most contacts. Start with the one where you can engage with the highest number of potential leads.

• Email: If most of your contacts are on your email list, begin with personalized emails.

• Social Media: If you have a strong following on a particular platform (e.g., LinkedIn or Instagram), start sending DMs there.

• Phone: If you have more personal contacts on your phone, consider starting with text messages or calls.

The goal is to pick the platform where you can make the most impact first.

Step 3: Personalize your outreach

Your outreach should feel personal, not like a sales pitch. Take 30 seconds to review the profile or recent activities of each contact before reaching out.

Example Messages:

“Hi [Name], I noticed you recently moved jobs—congratulations! I’m working on a new project that might interest you, and I’d love to get your thoughts on it.”

“Hey [Name], I saw your post about [topic], and it really resonated with me. I’m launching a new service/course, and I think it could be a great fit for you or someone you know.”

Personalization shows genuine interest and makes the conversation feel more natural.

Step 4: Reach Out Consistently

To build momentum, aim to reach out to at least 100 people per day. This might seem daunting, but remember, the first message is the hardest; it gets easier with each one.

Tip: Set aside dedicated time each day for outreach to ensure consistency. Remember, getting comfortable with rejection and persistence is key.

Step 5: Warm Up the Conversation (ACA Framework)

When someone responds positively, use the ACA (Acknowledge, Compliment, Ask) framework:

• Acknowledge: Start by acknowledging something about them (e.g., “I see you have two kids”).

• Compliment: Offer a sincere compliment (e.g., “Wow, you must be a super mom balancing work and kids!”).

• Ask: Transition to a question related to your offering (e.g., “How do you manage to find time for self-care? I’m launching a program that helps busy professionals do just that…”).

This framework warms up the conversation, making it more genuine and less transactional.

Step 6: Ask for Referrals

Instead of directly selling to the lead, ask if they know anyone who might benefit from your offer.

Example: “Do you know anyone who might be looking for [specific outcome]? I’m opening up a few slots for my new program and would love to help them.”

This approach feels less like a hard sell and more like a friendly referral request.

Step 7: Make It Easy to Say Yes

Offer a low-barrier entry point, like a free consultation, trial, or sample session. Be upfront that you’re offering this for free in exchange for honest feedback, a testimonial, or a review.

Example: “I’d love to offer you a free coaching session to get your feedback and, if you find value in it, a testimonial.”

This strategy reduces hesitation and helps you refine your offering based on real feedback.

Step 8: Leverage Referrals for Free Leads

When asking for referrals, use clear language about who you help and the outcome they can expect.

Example: “I help [type of customer] achieve [desired outcome] in [time period]. Do you know anyone who might benefit?”

This specificity helps your contacts quickly identify potential leads within their network.

Step 9: Start Charging Gradually

Once you’ve established some initial traction and gathered testimonials, gradually start charging for your services. Begin by offering discounts and progressively increase your prices as demand grows.

Example: Start with “80% off for the next five clients,” then adjust to 60%, 40%, 20%, and finally full price.

This gradual increase builds perceived value and maintains momentum.

Step 10: Keep Your Leads Warm

Continue to nurture your contacts even after they’ve become leads or clients. Provide regular value through content, check-ins, or updates. This will keep your audience engaged and more likely to refer others or return for more services.

Example: Share valuable insights, testimonials, and results to keep them interested and maintain goodwill.

"To win in business, you need to be able to say no without remorse, and hear no without a loss of enthusiasm" - Alex Hormozi

Summary

By following Alex Hormozi's 10-step approach, you’ll build a strong foundation for acquiring your first five leads, building trust, and validating your business idea. Remember, the key is persistence and genuine connection. Now, it’s time to start reaching out!

Ready to dive deeper into launching a low-risk business? Check out our post on How to Launch a Low-Risk Business Based on Your Expertise for a comprehensive guide on validating, refining, and executing your business idea.