They Didn't Want Her Money...
Вставка
- Опубліковано 2 лип 2024
- Want to SCALE your business? Go here: acquisition.com
Want to START a business? Go here: skool.com/games
If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $200,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit.
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.
34 yrs old: I became co-owner of Skool.com to help the many people who want to start a business online do so.
Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.
You’re not losing money if your book solid. If there’s no space for her, then there’s no money to lose.
But they didn't say they were booked up, they said they "don't do same day appointments". It was their policy. If they had been legitimately booked up, it would have actually made them look better because it would be social proof of their quality.
@@FeyfernHe said she went to yelp and started with the highest rated place. Given their ratings and SEO status as the first result they most likely were booked out 2 days.
💯 I turn away business all the time. I own a barbershop, and while I do try to accommodate everyone, I never "squeeze" people in when it will cost quality of service.
There are tons of baberos that are often booked cuz they don’t have the time. They literally have every time slot taken.
If you're booked up and turning customers away it only means you're stifling your growth, you could grow but refuse to. You've reached the limit of your own limiting beliefs
This is the dumbest thing he has said so far.
I know! I really wonder what their relationship looks like behind the scenes. I wonder who wears the pants. It's the logical fallacy to believe that both people can wear the pants. But who wears the pants? I strongly believe that it's Layla
He just talks out of his ass sometimes.
Actually, not even close...dumb...but he's said worse
Said the brokies
This just sounds like a rich dude didn’t get to jump the list
Or they’re just fully booked?
They were not fully booked... They only do reservations...
@@josephetim3715 they only do reservations because they’re fully booked? So u don’t walk in the place expecting to get ur nails done that day. It’s the same thing as a high end restaurant. You have to book days or months in advance, they have so much demand they do not care you don’t go to their place because they already have customers ready to fill up the slots months beforehand.
That's what I thought
Its not necessarily that they think theyre so great you need to book in advance…if theyre booked out that day they don’t have enough manpower to accommodate another booking…
Exactly
Depends on if they were actually booked completely that day which we don’t know from the details given to us so your outrage is kind of weird.
You're missing the point. They tried and made it work. So many times people just give the canned answer.
@@YoitsbobbyboyWhat is even MORE weird is you calling their comment “outrage”. Are you really that sensitive? Outrage? 🙄🙄 They are simply applying Occam’s razor, that the simplest explanation, is probably the actual explanation - that the shops telling her that they are already booked, probably are.
@@thomass789 or they just don’t take same day appointments. It is a bad marketing strategy. You could just say hey sorry we’re all booked today but instead they said we don’t do same day appointments which they could have nothing going on that day but policy is policy I suppose. But yeah I’m the weird one. Whatever bud.
Alex is WAY TOO SMART to actually think that ego is the reason. Most likely, they are just avoiding overbooking, in order to keep their clients happy and maintain their spot as “highest rated” on yelp.
Bro so many business are egotistical about shit like this especially barber shops
@@Alfredito999Bro, why in the world would a nail salon NOT want the business, if they had openings?
@@Alfredito999yeah a lot of them have reservations, pretty entitled to think that you should get a walk in when ppl already scheduled beforehand. Plenty of walk in shops available as well
Or they are booked for 2 days
Listen to the god damn video man. He literally said “they said WE DON’T DO SAME DAY APPOINTMENTS”.
@@AustrianEconomistbecause why? They’re that busy. Why would they be that busy? They’re in demand and can’t keep enough good staff to their standard.
Couldnt have said it better myself@@Jackthedog928
@@Jackthedog928that's different tho, we DON'T; as opposed to we CAN'T but would like to. Very diff. However it could very well be the case that they can't and phrased it incorrectly. Like a wise man once said,
"Poor choice of words."
- The Joker.
Lol literally in this case since they lost
money
@@hellbenthadesthey may have lost her money but may have gained a lot more from others. One service based shop can't serve everyone at same time.
This is incredibly wrong. She found the top rated salons in the area and was disappointed to not get a same day appointment- they are top rated and booked solid, they even tried to be accommodating for the next soonest availability. No ego involved at all, starting to think you got lucky in the fitness industry.
That money lost is probably worth it to the owners due to their boundaries they have for personal, family, and friend time.
This!!!
And employees
100%
Exactly. We’re booking out to December & do not even want customers like this jag off.
Don’t have a business then
Customer fit.
Not every customer or customer request is a good fit for every business.
That's OK.
Not entirely true, you can definitely be picky with your customers. If I ran a nail salon and a client like her wanted everything on their clock, their way, yea go somewhere else. You can actually build a client base of decent paying customers and limit the headache you have to go through
I am appointment only because I’m booked 5 months out. Businesses want the clients that appreciate and respect their quality and skill of service. Their books will continue to be full regardless of someone without patience calling on a whim.
Leila’s poor planning doesnt constitute an emergency for these businesses
😂😂stewie Griffin
Yup, planners get the best. These people get third.
Hmm this kinda conflicts one of your other videos, when you say the most successful people are good at saying no, and that's literally what those salons did. Guess the context was different but not sure
This is the first time I hear a bs advice from this dude
Yeah. This is bs
It is absolutely bizarre that he thinks that ego is the reason that THE HIGHEST RATED nail salons, don’t have immediate openings. Uh, why do you think they are the highest rated? Because they are sitting around with nothing to do, and in need of customers?
He has a lot of bs advice, but most are good enough
He's starting to be consumed by her. Woman boss is coming for his balls 😂
@@thomass789lol
Hmmm…he’s another thought for you mr guru…maybe they were booked for those 2 days
Don't entertain everyone is the thing you want to keep in mind
Meanwhile, Alex says in another video he won't help anyone for less than $50K per hour.
Bc it litterally isn't worth his time. He has his hands in so many things, it would legitimately be a waste of his energy and time to charge less than that.
It's not the same thing as a small or medium size business denying a customer because they don't do same day appointments. It could be that their schedule is full and therfore physically CANT accept same day or maybe it's just a policy. We don't know all the details
@@Nortiono it's the exact same thing the business that doesn't do same-day appointments is busy and doesn't have the time🎉
Depends on the industry and the customer. I’ll take 100 good clients over 500 “let me speak to your manager” any day.
Yup, this guy is such a d-bag that I immediately added him to the national b-list
So, if I don’t have any availabilities for today and I am booked 2 days in advance, I lose money? I must be doing something wrong 😮😮
Finally, proof that he doesnt know what he's talking about in all areas he speaks on.
Its not egotistical, its prioritizing your regular customers over someone who is visiting you town. Time and appointment slots are limited. Also, you dont know what kind of can or worms you avoided by not taking a random person not from your local area - sometimes customers go to a place they never intend to return and unload their BS - ask a Barber
Or maybe the reason the first 2 said no is that they are good and thus fully booked whereas the third one sucks and thus is empty. Just a thought
When you have a booked out calendar, there’s literally no way you can fit someone in your time is valuable. You can’t just take anything and everything that comes in through the door. And that allows you to charge more for your customers because there is more demand.
It’s an old model so I understand where you’re coming from. Today we are simply that busy now.
They ain't losing money, they're at the level of success that they don't need or want difficult customers. That is success.
Im not worth 100m dollars, but even i know that once your schedule is full theres no more room for anything else
They're booked for a reason...
Yup, they got third…
I'm pretty sure that if they said they were fully booked, people will whine and plead to be given a place after hour or in-between. So having this rule will prevent that and create a good environment for employees and customers
This has to be for engagement 😂my grandmother always says “poor planning on your part does not constitute an emergency on my part”
If you had already booked a timeslot and they stopped helping you to assist a walk-in wouldn't that be even worse?
Sounds like she went to the place that was less booked up for a reason.
Or maybe since they are the top rated salon maybe they actually don’t have availability? Like why would the salon not want to make more money?
what if the businesses were busy
They usually charge more by making their salon feel more exclusive. It can be branding
This is the exact opposite of what he teaches in his book $100M offers where he says “Don’t worry about losing money when creating genuine scarcity”, now he detests a business which actually applied his business advice?!
Yeah they lost out on one client from out of town, really not that serious. They are the 1 and 2 rated nail salons.
If they "only" do reservation then like he said, they just lose money, but if they are fully booked then the business is thriving, she is just another customer to them.
The only one with the ego is the one calling expecting a business to accentuate them when they are booked for the day.
Rich people complaing about not getting what they want instantly, then saying the places are being egotistical, you deserve a bat
This video destroys your credibility. High end salons, dentists, masseuse, restaurants etc have appointments because they are busy and dont want customers waiting. They didnt lose money, they already had customers
People are misunderstanding being booked and having no room, versus a policy of no same day appointments like he’s explaining.
Yeah. The other side of the coin is... if you think your money changes the future of the business you go to... that is actually egotistical. 😂. I am so great, that, if you do my nails, you are set for life.
"I expect the world to accommodate me because I'm rich." Get real, dude.
Yea idgaf what Alex said at all. Dudes getting cheated on and he clearly doesn’t eat 🐱
Where or when did he get cheated on? I'm confused
They’re booked with customers that made appointments. Bad business would be fitting her in and then you make all your scheduled appointments run later 🤦♂️
Bro is out here talking about 1980s capitalism like its a fresh new idea
The one who’s not booked is not booked for a reason
In fairness, a lot of times, it’s a matter of finding enough staff or having enough room for the staff. Some places have demand grow faster than they can accommodate it.
The only thing it is good for is food businesses, to be busy or fully booked in a restaurant is such an enticing thing in the trade!
Wouldn’t this also promote the wrong customer behavior?
If the first two spots her as a walk in despite being fully booked or company policy, Leila will expect to get a same day appointment from them whenever she goes back into town, and when they say no she drops them and goes elsewhere
Alex, no every business wants to scale to ungodly levels. Some businesses just want a good work-life balance and are not looking to retire via entrepreneurial endeavors and selling their business
OI!!!!! WHERE IS YOUR NOSE THING?😂
This is kind of stupid. I wish I had a company where I can pick and choose customers and not be in a position where I have to take on everyone that walks in the door.
The main thing I learned from this video is people actually use Yelp!
Treat your customers like God. This is why you must treasure smaller businesses. You can profit if you can gain a connection. Everyone wins
Yeah, this is the wrong way to look at it. Is a restaurant always at fault if it’s booked solid and can’t accommodate you wanting a table? No. Same with those businesses, if they’re booked solid, they can’t take anyone else that day. Simple as.
L take bro. If they're busy they're busy
Lose a traveller who comes maybe once in their lifetime or a recurring customer...tough choice.
IF, and only IF they were fully booked, their reason is valid. No other way to spin it. Not necessarily egotistical. That’s your assumption.
The best way for a nail salon to lower good reviews is to overbook or make clients wait. Everyone hates that place that says yes and makes you wait 30 min.
Seems like a policy built in real constraints. Weak example.
Terrible take. What about customer fit? The reality is your wife has poor planning and wanted to pass that problem on to someone else and they weren't interested. Good on them.
Unfortunately like a lot of the comments. This is one of my first times. I do not agree with Mr. Alex.
It is not ego that I can't see you today.
Either way, they're leaving money on the table. If you're completely booked, your services are too cheap. If they're being "egotistical," well that one just explains itself.
that's not egotistical or losing money. Taking in more people than the people you have a capacity for is underproducing and damaging your efficiency. It is more efficient to take in the correct amount of people you can handle and keeping days booked up until your profits raise enough to afford another station.
Many businesses want to increase or maintain a “status” with customers, by most of the time, pretending to “look busy” while loosing revenue, and especially customers and their word of mouth side effects!
“We don’t do same day appointments” that shop belongs in that bucket.
Since they are top at Yelp, hypothetically, they have the capacity to accommodate 1 more customer!
Lucky the one shop said yes! They got a great recommendation and many long term representative!
This happened to me few days back, when wanted to a some Notarious certifications! Got the job done, exactly the same way as above!
It’s doing the little things that make you the best. Everyone is doing 90% just stay open at any business.
It’s more egotistical to assume a business should take your business even though they’re fully booked, wouldn’t it? Plus, it’ll also be bad for the business to have a customer wait for hours just to make a client fit a schedule.
Even some Michelin Restaurants you need to book 2 weeks to 30 days ahead and aometimes pn a rare occasion they will accept walk in customers
The importance of overstaffing summed up right here. If you staff to the current business needs you will be losing customers. Some you will never realize you lost.
Raise prices or whatever you need to. But find a way to overstaff. Otherwise when this happens you are just handing your competition customers.
We do the same thing with dog grooming. My wife and I can get someone in literally same day or for sure same week. That’s unheard of in our area.
What are they meant to do? Hire a whole new person for her for that day?
Yeah they were probably fully committed. Sometimes even regulars have to schedule out a few months ahead for things
Leila is a freaking billionaire. Take a tip from Uber and implement surge pricing.
I feel the best way to address this is to charge higher for same day appointments.
If the Prime minister of UAE asked gor same day appointments, would you do the same thing??😂 Obviously not !😂
You simply pay attention to how often you have to turn people away vs how often you have employees with downtime and hire accordingly. No need to act all buthurt
That literally makes so much sense 😮
Haven't you said before that you want to create a sense of scarcity so that customers want your services even more? How do you reconcile this?
I mean if they have other bookies , it means they already are doing well 😂.
Right!!!! Happens all the time with hair salons all the time
tddw: if need clients and don’t have clients make sure your ego won’t get in the way, for all we know all three salons could be owned by the same family so even “loosing” a client to the first two that same owner will still get their piece from the third,
context is everything
I'm lost in this one.
If they literally can't take her and don't want to take her, how can they take her?
Or is he saying, they could have definitely taken her if they wanted to? Like if she was famous, they woulda made room for her?
I usually agree with his advice but In this case not so much. I am booked for months at the price agreed upon. I spend that time with that client and don't want to rush anything. Quality matters in some cases
Nah, our business is over booked. We try to fit regulars in last minute, but usually it’s just not possible. Most of the time we’ll give you a few other recommendations. We are far from egotistical, you just aren’t planning & upset you didn’t get what you wanted asap.
For the first time i can say Alex doesnt know what he is talking about. Beauty industry ♥️ If you are booked you are booked - time isn’t make of bubble gum. My clients are fully booked MONtHS ahead.
So businesses aren’t allowed to have other clients 😂😂
This is probably the only Alex video I don't like and where I think they're wrong. It's always better to have more business than you can handle.
I had to rehear that one because I just make sense is like in the hospital too. I’m trying to get booked and they’re like all day and then they canceled me. I don’t wanna go back. You know it sucks because I have to force myself to go back just to make money to make my meat.😅
Another gem alex all i can say is
Mixy mixy
For a man who talks about perspective and expectations etc all the time... This is a ridiculous perception to have of your own importance.
A non regular customer. Calling a appointment business and wanting a service immediately.
Wonder how many times Alex has booked a gym walk through for a walk in whilst he had appointments booked already.....
This is idiotic. Capacity is capacity. I would be suspicious of a place that DOES have walk-in openings. Means they aren’t as good or popular.
Or they were fully booked lad. Sod off with these mind blowing epiphanies 😂
He’s right if he’s right and wrong if he’s wrong.if you’re not a struggling business then you don’t need to worry but I would guess that if you’re getting called regularly and that’s your answer then you probably need to expand your business unless it’s like a niche service you’re providing. Quality over quantity depending on the situation.
Yeah, but if you got the business you got the business. So what difference does it make?
your entitlement is showing
No I’d cater to my consistent clients instead of someone who found me on yelp or groupon on the fly by. Sometimes “order” in your business and flow that’s consistent is with worth more than one “order”. But y’all would know that if you opened up a shop. This is from the perspective of an entitled customer. Entitled to instant. Everyone ain’t amazon or McDonald’s sometimes there is legit reasons to have a process instead of being on demand… obviously the ones not booked up off they game. Id rather have a lawyer I can hardly get ahold of them one that’s just super free all the time . Feel me
Lost money because they are fully booked?
just two dudes
So then they should act like an airline and overbook? Watch those reviews drop to 1 ⭐.
Yelp sucks. Anyone calls me from yelp gets no service.
I think they are just booked through.