Alex Hormozi, Founder of Acquisition.com, Gym Launch and Author of $100M Offers, delivers one of the best motivational speeches you will ever hear.
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”The thing that wealthy people that poor people don’t? They pick higher leverage opportunities, in a sentence. The only way to make the most money is to provide an exceptional valued service and charge a ton of money for it.”
― Alex Hormozi
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Alex Hormozi is a first-generation Iranian-American entrepreneur, investor, and philanthropist. In 2013, he started his first brick & mortar business. Within three years, he successfully scaled his business to six locations. He then sold his locations to transition to the turnaround business. From there he spent two years turning 32+ brick & mortar businesses around using the same model that made his privately owned locations successful. After that experience, he packaged his process into a licensing model which scaled to over 4000+ locations in 4 years. Over that same four-year period, he founded and scaled three other companies to $120M+ in cumulative sales across four different industries without taking on outside capital. He has scaled and exited 7 companies. His most notable exit was his majority sale of his licensing company for $46.2M in 2021.
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►Music: Epidemic Sound
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People are afraid of not getting Validated or they’re afraid of judgment That they perceive from other people That exist or don’t exist in their lives A lot of people just underestimate the Amount of effort it takes to go from Good to great and so for whatever reason They have this second voice that Criticizes everything they do that in Reality isn’t even there I would say 99 Of the things that I have learned I’ve Learned through doing most people had a Graveyard of failures before they had Their actual first success with 20 hours Of focused effort most people can be Pretty decent at something but most People spend years waiting to do the First hour I think the things that were Withheld from us are the things that Usually we seek the most competitors Don’t put you out of business but you Obsessing over competitors does the idea That my future self would trade all the Money he had to be poured in 20 again Made me really re-analyze how I saw Living life in the moment how many Successful guys have daddy issues so Many yeah and so it’s like okay well I Didn’t get his respect so I’m gonna have To compensate with my circumstances with My environment so that everyone respects Me and some people do that through fear Some people do that for violence some People do that through success it really
Just depends what vehicle you choose I Feel like the Deep need is the same I think a lot of my definitions have Been defined by my actions I am the Person who has done these things and I Will do things that will get me closer To the things that I want to achieve a Lot of my definition of self has always Been based on evidence I think it was Harder for me in the beginning because I Didn’t have evidence to support what I Hope to be true about myself which at The time wasn’t if I can just decrease The action threshold for people to begin And be okay with the fact that they’re Going to suck and it is okay to suck you Should expect to suck and it would be Unreasonable for you to be good if you Haven’t done it before and so it’s like Are you asking the universe to be Unreasonable for you by expecting to be Good on your first try and so I think That if we can shift the time Rising That we think in then we gain more Leverage over our time which we then Know we will compound into money because I think if you can Master the time you Match the money What did you learn about the habits of The rich I haven’t learned much about the habits Of the bridge at all to be very candid With you I think that maybe there are Some beliefs that because like my dad
Was a doctor I wouldn’t say he was like You know ultra wealthy but like we lived In upper middle class you know lifestyle But in terms of like wealth as I think You and I would probably understand it I Didn’t know anything about that and I Don’t think I’ve ever really studied it Very much I would say that my heroes now Like I started studying wealth after I Became wealthy so like what did you Learn about it afterwards and what do Wealthy people do that you think poor People don’t do they pick higher Leverage opportunities in a sentence so Like poor Rich Dad Poor Dad like Poor Dad says get a job Poor Dad says get a Higher paying job and and the thing is There’s so many innate beliefs that seem Commonplace like well of course you know What I mean like well of course you know And you know you buy some real estate And you know it’ll appreciate over time Of course you invest in some stocks like Yeah of course poor dads just don’t say That and so you have to like learn that I think and I didn’t so I’m grateful in That I didn’t have to learn that because I heard that just was uh of course yeah Once you have some money like of course You don’t spend your whole income of Course you don’t and so there’s a lot of Of course you don’ts that I think I I Inherited just by being like a saving Father but there’s also some upper
Middle class people who don’t save Anything but I think my dad did a lot of I think he helped a lot with like money Hygiene had a lot of really good money Hygiene from my dad the big the big Breakthrough that I had for me was when I stopped focusing on and this is going To sound backwards but when I started my Gyms I was all about building the the Business right and when I built the Biggest companies that I’ve had and now Recently sold and now we have our Portfolio it was about how do we make The most money And I know that sounds completely Backwards but the only way that you can Make the most money is to provide an Exceptional valued service and charge a Ton of money for it and because I Optimized around making money I I Started going through four low Capital Expense businesses because I had lost Everything after that five-year stint And so I was like never again am I going To reinvest every dollar from the Business back into the business because I’ve lost it before so when I started The the next business in every business I’ve had thereafter like we take Dividends every month and we do that Because you don’t wait till there’s an Accident 10 years later I mean put all Your money in I’d love to do both yeah Yeah why not both sure right and so that
Was they get dividend and get a bigger Course yeah but not just put money in And wait and get no money back 100 and The thing is is and this was a fallacy I Had because people always talk about Like reinvesting in their business but I Realized that that just meant that they Weren’t making profit and so and so the Vast majority of businesses even the Software world is somewhat shifting in This Um but they want to see profit and then Even better is if you have net free cash Flow which is just a fancy word for the Amount of money that you can take out Every month after making Necessary Investments in the business and so I Wanted to have businesses that pumped Cash flow because I lost it all before If people were able to not ask for 12 Months and just serve and don’t be wrong I’m all about making money like by all Means go get your bag but I think that What it does is it ends up freeing you To then make your real impact because Then you can start the whatever the next Thing and hopefully your first thing is That thing but realistically it probably Isn’t and all you have to do is look at Every entrepreneur that’s really wealthy The amount of graveyard businesses they Have in their back right right and so Like right now if you’re listening and You’re like I’m not sure if this is the
Perfect business idea let me just save You the time it’s not because look at Every other person who has been Ultra Successful they have 10 failed business Ideas so just like just start so you can Just start notching off the Bad Businesses right but extending the time Horizon I think only happens if you do Shift the intention through which you’re Building it or you’re just unbelievably Self-disciplined but I think it’s easier To just like start at it with the right Heart because uh small tangent but I Think it’ll be worth it is that the Reason that most people aren’t Successful in my opinion is that they Sacrifice Global benefit for local Benefit and that happens in all areas of Life you eat the piece of cake because You have an acute local benefit versus The global benefit of a six-pack that Lasts for a very long time or Better Health Etc the three things that I think Were in common of the ultra successful Were inflated sense of self As in they thought that they like they Deserved big things they wanted to go After big things inferiority never being Good enough and impulse control Those are the three factors of the most Successful like when they did a common Factors analysis like these people think They believe that they can achieve all This amazing stuff and then it it’s just
It’s an amazing Paradox because at the Same time they think they’re not good Enough and they are insecure about Whether they they can achieve it and They have impulse control and they just They and they stay focused on the thing And I’d say the biggest breakthroughs That I’ve had I think that will create a Lot of the wealth that we will have in The future is is really a deep Understanding of how long long is and Shooting with the intention of like I’m Only bringing this up because my YouTube Guy said it he’s like I’ve never had Somebody who actually started that I was Like we’ll see what we do in five years I was like We’ll measure that and he was Like no one has literally ever said that To me I was like as long as I see Progress I’m good because it wants Results in like two months yeah yeah Like if we’re making if we’re going this Way I’m cool I don’t need to like that’s Good enough for most people if if they Could extend the time rise because like I’ll give you another hack you can know How wealthy someone is based on the time Horizons they speak in so if someone’s Talking about how they’re trying to make You know make money this today Hey let me hold 20 for today You know how you know how poor they are I have to say poor like you know right If someone’s talking about what they’re
Gonna make this week or this month Or this quarter or this year or this Decade Think about how different the people are Who are talking in those time Horizons And so I think that if we can shift the Time Horizon that we think in then we Gain more leverage over our time which We then know we will compound into money Because I think if you can Master the Time you match the money if somebody is Starting from scratch what are the Traits skill sets that they should be Cultivating in order to up the odds of Their success they should focus on one Thing in general rather than lots of Different things that you’re not sure About because if you’re starting out Everything looks like an opportunity so The correct answer is all of them are Opportunities but all of them won’t work Unless you pick one right so you have to Say no to all the other Mistresses so Boom you pick one and then from there I Always say six figures is sell something To someone that’s it and if you want More detail sell something to someone so It’s one Avatar one product one channel So you don’t have to figure out how do I Create 20 pieces of content across it’s Like Just pick one channel one media Source Whether it’s Facebook Instagram YouTube You know whatever Twitter consistently
Start going on that whether that’s cold Outbound whether that’s content whether It’s running paid ads whether it’s Affiliates Word of Mouth whatever it is Um start reaching out to people there to Start selling your stuff and so I use Something that I call the rule 100 which Is 100 primary actions whether that’s 100 minutes of of content creation per Day 100 reach outs per day a hundred Dollars of AD spend per day uh like you Have to pick one of them but 100 per day And you do that for 100 days and I Promise you’ll have you’ll be making six Figures if you do that people are afraid Of Val you know not getting validated or They’re afraid of judgment that they Perceive from other people that exist or Don’t exist in their lives Um and so for whatever reason they have This second voice that criticizes Everything they do that in reality isn’t Even there but it’s constantly present It’s like the antithesis of whatever the God figure is but just the negative Voice and so I think that’s the thing That stops most people from doing the Stuff they know they need to do because If you think about like whether it’s Want to get in shape or I want to have a Better marriage or I want to make more Money most people on some level at a Basic level they know what to do and my Proof point of like even making money
Right most of us have had a bill that Came up that was unexpected a tax bill a Car breaks down a health thing whatever It is and we find a way and so when it’s For someone else People are will use the actual Resourcefulness that they have to make The money but for whatever reason they Won’t use that same resourcefulness to Make it for themselves and so I think That most people know if they want to Work out uh start to get in shape or to Lose weight whatever they know they need To eat fewer donuts and move more in General but they don’t right because They’re afraid of getting started or They don’t have the discipline to keep Going which is they can’t make the Short-term sacrifice for the long-term Achievement so big picture it’s like There’s usually some fear that’s Preventing from doing it and then how it Looks from a behavioral standpoint is They do not make the short-term Sacrifice of discomfort for the Long-term achievement Foreign [Music]