Wanna scale your business? Click here.Welcome to The Game w/ Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned and will learn on his path from $100M to $1B in net worth.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition
Chapter 1: What is the perfect pitch for success?
There's no way to strike out. You just have to wait and wait and wait until you get the perfect pitch, that fat pitch that's in your sweet spot. And then you step up and you knock it out of the park. And if you look at the people who are the wealthiest in the world, invariably, the vast majority made their money with one vehicle.
Chapter 2: What impactful experience shaped Alex's career?
I want to tell you a story that was really impactful for me earlier on in my life and my business career. And it was when Layla and I went to the Pirates Who Have Mastermind. Now, if you've ever, you know, listened to my podcast or you've been on this channel, I've talked about this before, but it was one of the most impactful experiences of my life.
And it was because I had multiple mentors who made more than me speak belief into me and also made sure that I capitalized on the fat pitch. All right, and so I'll tell you how this went. So I was, Layla and I had just gotten married. This was 2017, May.
Chapter 3: How did Alex's business transformation happen?
We had just gone from, you know, me almost losing everything to this business that we had just shifted from a done for you, flying out, doing gym turnarounds, to a consulting service teaching other people how to do our model. And we were like in our second month and doing $350,000 a month. It was insane. And it was just Layla, me, and an assistant selling over the kitchen table.
It was absolutely bananas. I didn't even know. We made more money than I knew what to even do with. It was crazy. You know what I mean? We're living on $1,200 a month and taking home 340 of $350,000 a month. It was crazy. And so anyways, I got invited to an eight-figure mastermind. And clearly, if you're doing the math there, I'm not making eight figures. And I felt really out of place.
I was like, are you sure you want me to come? And he was like, yeah, dude. He's like, you're going to blow past eight figures. I was like, really? And so anyways, we get to this event. Super nervous to speak, because all these guys are like titans. They're all doing $10 million, $20 million, $30 million.
And I think Russell at the time, I think they were doing $35 to show you how long ago it was, because now I think they're doing $150.
Chapter 4: What advice did Alex receive from mentors?
and i got up there it was finally my turn and i you know i wrote on the board and i told how our whole process worked and how how much money our gyms were making on average actually i'll start with what alex charvin said so alex charvin was in the room he's like you have a hundred million dollar business right now and you don't even know it and i remember feeling like the air was sucked out of the room because i felt all of a sudden i was like really proud of what i had accomplished but
all these guys made so much more money than me that they were like, dude, you need to like, you need to step on the gas. And I was like, what? And they were like, you've got a huge thing in front of you. If you, if you like, like you need to take advantage of this. And at the time I was saying how I was like, okay, we're making three 50 a month and I'm going to start a supplement company.
And they were like, why would you want to start a supplement company? Just double your ad spend. Cause you're not spending anything on ads right now. And I was like, okay, I guess I'll do that. Cause I listened to these guys. Cause it made more money than me. And I was like, all right. And so, That was my end all.
So rather than starting another business, I just kept doing the thing that I was doing, which ended up being an amazing piece of advice for them to give me. And I probably would have sabotaged myself if I had not paid for that.
So it's like, if you ever have the opportunity to spend more than you're probably comfortable with to be surrounded by people who make a lot more money than you, you will almost always disproportionately. And every time in my life, I have always disproportionately moved up faster when I can surround myself and figure out, I want them to speak into me and tell me what I cannot see.
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Chapter 5: Why is surrounding yourself with successful people crucial?
I'm like, tell me what I'm missing. What am I not seeing that you can see? Because for whatever your business is or whatever your skill set is, I'm sure that if someone who's doing something that you are very good at, you can immediately see what's going on. It takes you two seconds. You're like, oh, this is what's wrong, this is wrong, this is wrong.
When I look at a business now, I can be like, oh, this is the issue. It's immediate. But when you don't have the context, you just run your head into the wall wondering what's going on. So anyways, after my little presentation was over, Jason Fladley came up to me and he had done $100 million on webinars. And I was like, man, this guy's super smart. And he was really aggressive and bright.
And I was like, man, we got to figure something out. Or I don't want to say anything stupid. And so anyways, he comes up to me and he said, you need to 10x overnight. And I was like, what? He said, if what you're saying is true and you're making gyms this much money, he's like, someone bigger than you who already has all your customer base is going to take everything you have and distribute it.
I was like, what? He's like, they're going to take everything you have and just destroy you before you even have a chance. And I just felt even worse after this rifle, this pit in my stomach. And then he leaned into me and he said, when it when it gets easy is when you go hard. And I remember how much I was shaken by that. And Layla was right next to me.
And I was like, when it gets easy is when I go hard. When it gets easy is when you go hard. I was like, huh. And the biggest gift I got from those guys there was that this was my fat pitch, right? There are only a handful of opportunities that present themselves in the course of entrepreneur's career where you have the opportunity, you have the skill, And basically the stars align, right?
Now, that being said, you have to develop the skills so that when the opportunity presents itself, you can knock it out of the park and step up to the plate. When I listen to Warren Buffett, and he talks about investments, they choose very sparingly what things they're going to invest in, but when they do, they load the truck up. They go all in.
You find your sphere of confidence, and you just get pitches all day long, just like a baseball analogy. You get pitched over and over, but you have no strikeouts. There's no way to strike out. You just have to wait and wait and wait until you get the perfect pitch, that fat pitch that's in your sweet spot, and then you step up and you knock it out of the park.
And if you look at the people who are the wealthiest in the world, Invariably, the vast majority made their money with one vehicle. They made all of their wealth, or the vast majority of their wealth with one vehicle, and then after they made their wealth, then they diversified, right?
And so this is one of the big issues that I feel like I see in the internet culture, in the Instagram culture, is they're like, billionaires have seven revenue streams. Yes, but they didn't have that to get there, right? Now I have lots of revenue streams, but I didn't have that building this, right? And so the idea is it looks much more like an umbrella.
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Chapter 6: What does it mean to go hard when it gets easy?
Every single one of them, most of the guys that you see, all of them came from one thing that made their money. And then they sprinkled it out on top of the other vehicles. And so if you listen to Gary Vee, even, he talked about one of his biggest regrets was how when Google ads were really cheap that he should have spent more for Wine Library.
And all of these things kind of collided at the same time in my life where I had, you know, like I knew nothing. We're doing 300,000 a month. And I was like, holy crap. Like, what is going on? Is this legal? I don't want to mess it up. Like, it's just like holy. And so but because of their encouragement, rather than a distract myself and start another business, right? All we did
is I followed what they said. I 5X my ads, man. And then it just took off like a fricking rocket. You know what I mean? We went from 350 to 1.5 million in the next five months, as in per month. And so it was just bonkers. And I just listened to what they had said. And so my takeaway from this and me sharing this story is that I don't know what pitches you have in front of you.
There are only a certain amount of times where we're going to get that fat pitch. And I think the point of this is that if it is easy for you right now, this is the time to step up. I was talking to some entrepreneurs that were younger, not that long ago, and they went from... you know, next to nothing. I think not next to nothing. I think they were doing that.
And that sounds horrible what I'm about to say. So they were doing like one or $2 million a year. I didn't mean it like that, but their last month they, they made like 20 or $30,000 in their last month of the year. And then the next month they, they hit this offer out of the fricking park and they, uh, they did 3 million and they did 5 million the next month in revenue. I mean, that's insanity.
I mean, I've, I've never heard of anything growing that fast without like a JV, you know, like some sort of joint venture thing. Like never in my life I've heard something grow that fast. And they were like, yeah, you know, we're trying to like enjoy the fruits of our labor and not spend a ton of time on the business.
And I got to have the opportunity to be the older person in the situation because I could see in them what I imagine people saw in me, which was like, You've got a hot one right now. Like you need to ride it hard. Like when strike when the iron is hot, right? When the fat pitch comes, you step up and you put everything you've got into it.
And so like this is not the time to try and figure out work life balance because you're going to have this finite window. We're going to make disproportionate amounts of money. We're going to make your generational wealth in this short gap. And we just have to hope that when that opportunity presents itself, we take full advantage, right? If you're going to California,
and during the gold rush in 1849 and you start panning for gold and you start getting gold that's not the time to say you know what i've made it i'm going to stay at home i'm only going to pan for gold an hour to a day of course not right because you'd be like i got a pen i got to try and take as much gold out of this river as humanly possible it seems obvious to us from the outside but when you're in it you have all these other things that are going on in your mind
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