Your Failures Can Make You Rich (if you write them down)
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- Опубліковано 1 жов 2024
- Want to SCALE your business? Go here: www.acquisitio...
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.
![My Evidence Based Guide to Making Money Online [TIER LIST]](http://i.ytimg.com/vi/wR8KoE8u1p0/mqdefault.jpg)
![My Evidence Based Guide to Making Money Online [TIER LIST]](/img/tr.png)
For 13 more years worth of business lessons, watch this next: ua-cam.com/video/KhFlD54nQrY/v-deo.html
You changed the title at least two times. The original "Writing Down Your Mistakes" one was better.
That 13 years of business lessons is epic! Absolutely must-watch.
I've been listen to 3-4 of Alex's videos every day for almost a month now and I'm blown away by the quantity and quality of them. I truly feel like I'm in one of those 100k/year mastermind, for free. Thank you so much!!
i felt the same back when he had 10k subscribers 3 years ago. the only difference is that his videos are prettier and quirkier
What have been your biggest 3-4 takeaways so far?
yeah, dont get confused tho, its his point of view and some aspects might not fit into your reality and your puzzle :)
@@coptimal There are none, those are the takeaways. Whatever you choose to do works, dont look for a "takeaway" its a RULE you want to RESTRAIN your life to, your life is your FREEDOM dont look for takeaways. You got this.
good comment.
His books are step by step courses… I am reading a page… then doing it…. It could take me a year to read 100 million dollar leads
ohhh thats a good idea!!!
This man is uploading like crazy🔥
It just shows how much volume is required. It's all reps man that's how you become great
his name is Alex
He is practicing what he teaches, specifically volume
Love it
I thought rich people would relax a bit more. Alex is producing like it’s the end of the world soon 😂before AGI takes over humanity
leila is definitely the balance you need. keep her and listen to her
Who are 3-4 other people you think he listens to consistently?
Dr. Kashey, Charlie munger
The gym tuaght me that you cannot optimize what you do not track. I gather my business data just for the sake of optimizing. The "hard" part is reviewing and improving and applying in the data to grow.
Alex, beleive you me - you will fucking reach it. I have never rooted for someone so bad. And I know you don't need me rooting for you. But I just wanted to show love.
For those that don't know: "Woman in the red dress" refers to a scene in the first Matrix movie. Essentially: Stay focused otherwise a distraction will derail you and all your effort.
I was just thinking about how I’ve learned so much from my failures in sales. 👍🏼 the best sales I ever had were the ones I didn’t get.
My biggest mistake is not following Alex sooner. 🤨
😂
Funny story. I was introduced to Alex by Russel Bronson. I followed him but later unfollowed him. 😅😅😅
Then I followed him again. Now I wonder why I even unfollowed him
@@emekaudeogu that is funny.
Get addicted to creating content. not consuming it. because one will get you everything you ever wanted and the second will make you lazy.
Great mind set! Thanks for posting this
Stop being lazy Alex, you need to work harder bro
HOW IS THIS FREE?!?!? Thank you for the knowledge king.
Powerful shit. Not every stage is sunshine and rainbows. Thanks Alex
Repent and receive Jesus Christ as your lord and savior and receive salvation
“How would I play the game if I had to win?”
That’s a fantastic question! As someone who’s played a lot of Smash Bros, Mario Kart, and other video games there are clear answers to that question.
Your strategy, mindset, and implementation are the real tests of your character as you are building it here.
I’ve been pretty good at documenting what I am learning through videos, writing, etc. but this made me want to do so even more to level up quicker - thanks for sharing! 🎉
Are there any pot heads you are avoiding? A freudian slip was detected lol
Alex looks a bit tired.
In this video. Thanks for the time, effort and all the knowledge you share
Thank you for this. I am leaving the nest
Can you add some visual cues and edits that you would do with high production videos. Like it just helps with remembering. IMO though.
In my eyes the difference between a video game and buisness is, that a video game ends and business is ongoing.
Alex is the video game cheat codes to business
Wow this is amazing. Probably one of the best videos from Alex. Great job man. Thank you
Another way to get more out of other's peoples experiences is
When you hear something profound, don't quote it, write down what came to your mind as a result of hearing it.
You'll have a lot more original sayings
ex.
“it's not like they're moving super fast they just don't make the wrong turn they go directly for the ammo”
- Alex Hormozi
“Speed isn’t about moving faster, It’s having less wasted movement”
- Caleb (Malik) Grady
Started my first business. Its profitable but nowhere near the cash i want to get. Learn not earn though. And boy ive made mistakes 🤣
Love it though. And thanks for giving us normals the courage and confidence to just send it.
That first sale was comparable to my first born 😂
Alex the Dragon Slayer 🐉 giving out cheat codes for free!
coming off my 2nd time losing everything.. super valuable
what fk'n games do you play, and how do you corelate the gameplay so seamlessly with business acremen?
Being a disabled person, starting something that makes money, is damn near impossible for me. Being a musician who lives way out in the country, without modern technology, I have to be super resourceful and I have nothing that people want to buy really.
No offense, but I see 5 excuses in this comment and you may be feeling a little sorry for yourself. The quicker you decide that is not your truth, the quicker you will see all of the opportunities available to you.
I know because I was in a similar situation. I am not disabled, but the rest was true for me.
I now own a marketing agency and make enough to pay my bills, plus travel with my wife every month. It’s not a ton, but it’s enough and growing.
I only got here because I changed my beliefs, realized no one else was coming to save me, and wake up everyday with gratitude for the opportunities that will be given to me.
After this video, I am going to start documenting failures/ successes. If you watch these videos and don’t take action, it’s on you for not getting to the place you want to be.
With all of that out of the way, maybe I can spark some creativity for you.
You said you’re disabled, but not disabled enough to play music. If that’s the case, a number of things you can do within music virtually. (No modern tech needed, a computer and internet is fine).
- virtual music lessons
- artist management
- social media management for artists
- studio musician (this would take some hardware/software)
I could go on but really it will all depend on you NOT believing you are so limited in life that you can’t have what you want.
I had the table. It’s from Cost Plus World Market. It is annoying to clean because of the grooves. Buying that table was a failure of mine.
Id like to see an ai video..I'm curious about the future: How do you think AI will transform our world? I ask because of my AI agency. Thanks for your insights
A fool never learns from the mistake,
A dumb person eventually learns from the mistake
A smart person learn 1 lesson from his mistake,
A very smart person learns many lessons from his mistakes,
A wise person learns from others mistake,
The wisest learns even from his success. 7:30
@Hormozi-ChanneI to do what
Yes avoid both…potholes and potheads lol
🔥🔥🔥🔥Alex you're always coming with the HEAT, joining skool soon.
Ready to move on with business. 💨
WHAT A COINCIDENCE - I wrote a book few months back called "Second time entrepreneur" where I basically talk about every mistake I made and I've seen others make as First time SaaS startup founders!
Where can i get it ?
Hes 100 percent talking abt robthebank at 15:00 minute mark
Wow
If you don’t know you are playing a game l, it’s because you are the pieces being played.
Documenting things publicly makes you accountable for the lessons that you say that you have leaned. POWERFUL!
Man I can't keep up with this speed,
Alex you are absolute GOAT 🔥
Always be accountable for your actions on all aspects. Not being accountable is not being free
i think you're related.. lol😂
Would love to know what you think the biggest constraint of your business is right now
Lol love the video game reference, die, die, die 😅
Hey Alex. How did you validate your supplement product will get sales before launching your supplement business and how long it took you from validation stage to launching the product? Thanks
Either you’re tired or experimenting with a new low-energy delivery. Great content as always! Hope you’re well, Alex 🙏🏾
Alex is the man. Thank you for the timeless business wisdom 🤝
Thank you for your transparency and vulnerability. I'm sure you know this makes you unique on these platforms. It's very encouraging.
How do you see yourself when you are 80-year old? What will you be doing? What will you be dreaming? Or is everything about the past at that point?
The only thing worse than making a mistake is learning the wrong lesson from it, as this leads to repeated errors.
---
- A fool never learns from their mistakes.
- A dumb person eventually learns from their mistakes.
- A smart person learns one lesson from a mistake.
- A very smart person learns multiple lessons from a mistake.
- A wise person learns from the mistakes of others.
- The wisest person learns from both mistakes and successes.
I am already posting a story every day on my Facebook profile, thank you for the ideas. I will now add the mistakes as well. I buying a coach to help me with the writing, avatar and content.
Alex, thankyou for this!
ITS HARD TO FIND OUT WHAT THE RIGHT LESSON IS
Love the video game analogies
@AlexHormozi, for better visibility of the books in front of the table, maybe your camera guy set the front shoot camera alittle bit higher, so that you can place the books on a angeled stand. maybe this works also in die upcoming videos when you use the whitebord again. all the best from germany
I cant tell if the intro is satire, I've seen multiple shorts of Alex Hormozi talking about how he learned from his failures. Not to mention what a sour attitude to give up when you know you got more juice in you. If that was the case Cbum should've stopped when he messed up his shoulder or bicep.
Does 100M leads come in paperback ?
Gotta make a video about changing from business to business-model... (7 months of switching business-model :( .
"How would I play the game if I had to win?” killin phrase!!
26:18 - this video. Is Massive help.
26:43 - totally get-it.
26:52 - 100% yes. so true.
Jesus went to His Own Hometown, and Could Not Do Many Miracles there (except heal a few sick ppl) because the ppl had no faith in Him - They didn't Believe, so.. things just didn't work - because of their unbelief.
So, yeah, that IS the hard part; finding ppl who believe in you & what you're doing.
Big fan of your work Alex thank you for being you brotha (Muslce emoji)
„What did you learn from that?“ …
$ Document your successes & failures & make you the main audience. …$
I've been meaning to start journaling for years now. Maybe this will make me finally start
Thank you so much for posting your failures and for taking about your experiences. I recently lost everything and am left a lot of business debt due to being screwed over by a business partner. Knowing you too went through this it has helped me keep my head in the right place. Thank you thank you thank you
You’ll get through, I believe in you.
Learn a bunch of skills and put them to use and you will be rich.
This has been a very insightful video brother. Excited to implement
WOWW, just wow. Mozzi decendant of the Abrhamic family confirmed! This is god tier info.
I’ve played my fair share of video games. And I normally would only spend a good share of my “life” playing only one game at a time. My Halo era or my Fortnite Era or my CoD era even tho my friends always wanted to switch between games. That always bothered me for this same reason: whenever I switched, I had to “get back into” that game’s mode. What I mean by that is that each game is fundamentally different. Fortnite’s controls are different than halo’s, which are different than CoD’s. Not only does it take time to switch back and forth relearning a game you already know multiple times an evening, but you are constantly destroying your progress in your last game by moving into another game that doesn’t have the same control, that has building elements, that is shield based, that is slow paced or fast paced, that is team based, etc. getting good at one thing helps you be far better than someone who can’t make up their mind. The business analogy is masterful.
Coincidence vs causality. I don't think writing things down was the critical thing here. It was having made enough mistakes and having enough experience and learned enough when you started writing things down.
You don't forget important things. But, writing things down might help with thinking about stuff and learning from it.
This is very shrewd and wise counsel.
Can you share the Elon Musk learning video you mentioned? Appreciate it.
Chill on the uploads man, I can't keep up
Your advice have been very helpful. Thanks
Ray Dalio mentioned documenting failures in the book principles so its good to hear you echo that Alex thanks
I never heard of "the woman in the red dress". What analogy is this? Shiny object syndrome?
Alex aint giving us space. Love it. 🔥
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Where can I make such gain
All thanks to Alex Robert
He is a licensed broker and a FINRA AGENT here in the States.
The fact that I got to learn and earn from his program is everything to me, Think about it, it's a win-win for both ways.
Alright thanks for the recommendation, but how do I reach him?
Can share how you document your mistakes and lessons learned from it . ( the whole documenting process )
maybe I'm not that smart,but how do u make 'reoccurring revenue ' the '1st month?'
You make it for you. Brilliant. Ypu document the successes ypu claimed ypu learned. Crystallized the lessons. People identify with your stories and experiences. I too have no issue creating content. I get do many has I feel compelled to share. Document your successes. Got it. Don't worry about the reviews etcetera.
Atleast document the wins, and think through why it worked.
Keep them coming....Alex you are great brother ❤
Ayo Alex
Give us some time to listen to the ones already uploaded😂😂
Omg I love the video game analogy 😅 Thats exactly what it feels like!
How involved could you possibly be in the day to day of your portfolio companies if all you do is upload UA-cam videos, There must be quite the team in place to actually manage the businesses because it's Becoming very apparent the UA-cam channel is solely a sales funnel to get small businesses to want you to work with
He has said this himself. Leila is the day to day operator
Alex’s biggest boss to defeat right now is he has no bottle necks or constraints to fix😭
ALEX IS DA GOAT
Thumbnail is Legend....wait for it....dary
Legendary 🔥❤
❤Alex is definitely packed with Alot of value, nice man
Wow
Improving every Minute :-D Title changed two times while i am watching (now three Times)
hey Alex you’re a genius and we love you for sharing your genius ❤
Value 🎉
In-game plot twist: We are all still competing, but finally realize there is enough to go around and we have been playing a co-op game this whole time, and find a healthy balance between competing, raising the standards, and lifting each other up in the process.
Investing a in crypto/forex is a good idea, a good trading system would put you through many days of success.
Yes! I'm celebrating £32K stock portfolio today...
Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family an...
I definitely needed this today thnx Alex
Wellll. Now, I am committed to a self-podcast.
I've benn listening to 5-6 alex hormozi's videos every day this video very useful and financial
bros discovered ‘journaling’
Yet most people don't learn from their mistakes at a detailed level and actually improve. So i will take the advice from his nuanced approach. Taking the nuance out of his messages loses the impact and specific tactics. Let him cook.
You really don’t know what value he’s offer do you? 🙄
Alex im starting to have tendinitis from all my notes
alex this is real. i love this one. more & more pls. thank you for the value as always, especially lately!
Anyone notice he said buisemess in the beginning 😂