The Diary Of A CEO with Steven Bartlett
The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi
Thu, 13 Feb 2025
Are these simple things keeping you broke? Alex Hormozi reveals the biggest business lies you’ve been told and the formula to turn $1,000 into $100 million Alex Hormozi is an Iranian-American entrepreneur, investor, philanthropist and founder of Acquisition.com. He is the author of books such as ‘$100M Leads: How to Get Strangers To Want To Buy Your Stuff’ and $100M Offers: How To Make Offers So Good People Feel Stupid Saying No’. In this conversation, Alex and Steven discuss topics such as, how to escape a 9 to 5 life, the exact formula to triple your net worth, how to build an audience from 0 followers, and how to REALLY succeed with your business model. 00:00 Intro 02:13 What Would You Say to the Millions of Entrepreneurs That Follow You? 03:18 What Entrepreneurs Really Need 12:03 Is There a Framework for Knowing When to Quit? 16:05 Fear vs. Logic: How to Think Rationally 19:08 Your Decisions Are Driven by Self-Awareness 23:35 What to Do When You Quit Your Job: The 4 P's 24:42 Pain as a Driver 27:29 Mercenaries and Missionaries in Business 32:30 Just One P Will Make You Succeed! 35:47 What's the Cheat Code to Win at the Game of Attention? 39:33 The Winning Strategy for 2025 49:08 How Important Are People in the Business Journey? 56:46 First-Time Founders Need to Know This About Recruiting 59:09 A-Players Hire A-Players 01:01:40 The Ability to Have Hard Conversations Sooner 01:09:31 Be Kind, Not Nice, as a Manager 01:15:42 How to Not F*ck Up in the Hiring Process 01:23:40 How Do You Know They're Not BSing You in the Interview? 01:24:42 How to Hire Great People If You Don't Have the Money 01:27:56 The Pros and Cons of Experienced vs. Less Experienced Employees 01:29:58 The 4 R's 01:33:08 How to Be Prepared for the Rollercoaster of Building a Business 01:55:35 What Successful Companies Do 01:57:58 How to Double Your Business Growth 02:10:45 How to Help a Founder Who's About to Quit—They Can't Take It Anymore 02:16:40 The Old Innovators' Dilemma and How to Adapt 02:25:46 Your Rate of Experimentation Has to Be Higher Than Your Competitors! 02:29:03 Do Mentors Matter in Our Journey? 02:37:18 Parrots vs. Practitioners: The Best Way to Learn 02:42:16 The Founder Mode 02:46:44 Founders and the Competitors Around Them 02:49:07 Work-Life Balance 02:56:28 The Mantra That Helped Me 03:03:36 How to Drive Meaning from Your Life 03:09:43 What Is the Meaning of Life? Follow Alex: Instagram - https://g2ul0.app.link/EBxnhGYpNQb Twitter - https://g2ul0.app.link/wucQ8x0pNQb YouTube: You can purchase Alex’s book, ‘$100M Leads: How to Get Strangers To Want To Buy Your Stuff’, here: https://amzn.to/413cH2K Spotify: You can purchase Alex’s book, ‘$100M Leads: How to Get Strangers To Want To Buy Your Stuff’, here: https://g2ul0.app.link/WcEZGF3pNQb Watch the episodes on Youtube - https://g2ul0.app.link/DOACEpisodes My new book! 'The 33 Laws Of Business & Life' is out now - https://g2ul0.app.link/DOACBook You can purchase the The Diary Of A CEO Conversation Cards: Second Edition, here: https://g2ul0.app.link/f31dsUttKKb Follow me: https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Adobe - https://www.adobe.com/uk/express/spotlight/stevenbartlett?sdid=5NHJ82ZD&mv=social ZOE - http://joinzoe.com with code BARTLETT10 for 10% off Shopify - https://shopify.com/bartlett Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What advice does Alex Hormozi have for aspiring entrepreneurs?
If you want to make more money, you might want to consider doing this. So number one is hold that thought for just a second because the thing that comes before that is this graph. Oh God, this is the entrepreneur life cycle and there are six stages. Now the vast majority of people get stuck on stage three.
I've made some of the biggest career mistakes at this point and you end up living the same six months for 20 straight years suffering until you learn how to break free from it.
I want to go through the whole thing.
This is going to be f***ing awesome.
Alex Hormozy is the master of business strategy.
An artist in scaling companies into the millions and a leading voice in how to craft your way to success. He's an entrepreneurial powerhouse. Whether you're starting out or want to go from 1 million to 10 million, there are certain behaviors and actions that will increase the likelihood of success that we're going to go through.
But here's the really hard truth that a lot of people don't like talking about. Entrepreneurs must be willing to make impossible choices, have the courage to be willing to be wrong, have shame by failing at things in front of people whose opinions they care about. And that fear keeps people stuck in a job and a life they don't want for years. And that was my path.
I had a white-collar job, a condo overlooking the city. Everything's according to plan. And I remember thinking, like, I didn't want to be alive because I was so afraid. But once you get over the fear, it unleashes this whole new realm of possibility of being able to do what you want.
And that is when you can learn the real game of entrepreneurship, such as knowing that business ideas typically come from one of three Ps. And you only need one of those three. And then there's the four Rs for customer success. How to learn new skills quickly. How to stand out in a competitive market. The winning strategy for 2025 and so much more.
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Chapter 2: How can you overcome fear and take the leap into entrepreneurship?
And I think... Um, and I, and I used what I consider a very non-palatable word of coward purposefully, because no one wants to say they're afraid, because if you say you're afraid, then it means you're a coward. And I think that it only means you're a coward if you don't, if you allow that fear to change your behavior in an aversive way, as in it not towards what you want.
And so, you know, the inverse of that, many people have heard it, courage is not acting without fear, but despite fear. And I think that when you act, when you allow fear to change your behavior the wrong way, that is when you can give yourself that title of coward. And I think that that is a title that I have feared my whole life.
And that label is almost, I'm more afraid of that label than the label of failure. I'd rather be a failure than a coward.
Is there a framework for knowing when to quit? Yeah.
So I think there's like the math behind it. And the math, I think, is pretty straightforward. So like, when do you quit your business? I like you've saved up three to six months of personal savings, number one. Number two is that you have started something because nowadays in the digital age, you can begin a business on the side that can generate income.
And that income in the small amount of time that you're not working replaces or at least matches the existing income you have from your current job. And you've been able to do that or demonstrate that income for like three to six months. If you do that, that's a very like math way of approaching it. That also is basically never the reason that people aren't quitting their job.
Like that's a really – like I have backlog. I have matched my current income with my part-time work. And if I just put my full-time work, I would probably make more. Very reasonable. But never actually the reason that people don't do it.
I was thinking about the two sort of reasons why someone might quit something or feel like they want to quit. And one of them is clearly because it's hard. And that's obviously not reason enough to quit. And then there's another one which you were speaking to there, which is it's not moving me towards a meaningful goal, irrespective of how hard it is.
Like a marathon, you're raising money for a charity you care about. It's hard, but you don't quit. And then there's maybe if you're running a marathon for no apparent reason... there was no charity, there was no one watching, there was no fitness benefit, then that's a good, I guess, moment to consider quitting. My story mimics yours in a way that I didn't realise.
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Chapter 3: Is there a framework for knowing when to quit your job?
And thank you for all that you do. Thank you for being weird and different. Because like that's, again, that's the value. That's all the value in the world. We don't need more of the same. We need people that have the courage to be themselves and the courage to be happy. And that's exactly who you are. And I really, really appreciate it. Thank you so much. Isn't this cool?
Every single conversation I have here on The Diary of a CEO, at the very end of it, you'll know, I ask the guest to leave a question in The Diary of a CEO. And what we've done is we've turned every single question written in The Diary of a CEO into these conversation cards that you can play at home.
So you've got every guest we've ever had, their question, and on the back of it, if you scan that QR code, you get to watch the person who answered that question. We're finally revealing all of the questions and the people that answered the question. The brand new version two updated conversation cards are out right now at theconversationcards.com. They've sold out twice instantaneously.
So if you are interested in getting hold of some limited edition conversation cards, I really, really recommend acting quickly.