Brutally Honest Advice to My Younger Poorer Self
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- Опубліковано 17 жов 2023
- 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 Vanderbitl 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.
“But if it makes you better, no effort is wasted.” Every creative person needs to hear this at least weekly. please like this it reminds me every time
❤
hope it motivates you
I started my company after listening to Alex, it's been 8 months and I have 20 restaurant customers buying weekly from me
Well done
What do you sell them ? :)
@@louisboon5656 I have a farm that produces, microgreens, basil, lettuce and a few other specialty vegetables
Dude you are crushing it keep going man
Let me guess you got a course?
This quote hit me hard.
"Sadness comes from a lack of options which is why it feels like hopelessness. Anxiety comes from many options but a lack of priorities which is why it feels like paralysis, looking everywhere but moving nowhere. Solve sadness with knowledge and anxiety with a decision. Understanding this changed my life."
Time to work on getting the RIGHT knowledge and start making decisions even if no one agrees with them.
This feels very comforting, even as someone with an anxiety disorder ❤
Same!
@@averynmitchellZZZZZZZZzzZzzzzzzzZZZZZZZzzzzźzzzZZzzzZzzzzźzzzźz
Amen brother
@@averynmitchell also the point of anxiety is not just the existence of choices but no direction, it's even more so the felt pressure to make a choice, but not knowing what choice to make due to limited experience with the choices available.
It's why in a social setting for someone who has social anxiety, it's the felt pressure of having to act according to social norms but not having a lot of experience with social norms, thus not trusting what choice to make, since executing any choice well is not something one is experienced with.
It's why social anxiety is best overcome by taking small steps where the choices are minimized, and the risks of messing up a choice is also equally minimized. Because the pressure to act comes from an internal fear, not an actual external pressure. Most external factors don't even care about you acting or not, to them it's a brief moment but for oneself it can feel like an overwhelming defeat to do the wrong thing and do it suboptimally.
Small low-risk steps to build experience over time, eventually leads to bigger anxiety-inducing situations having less of an impact, because the outcomes of each choice available have been made more predictable over time. But the key is always to start small, then grow big over time.
I admire the level of practicality this dude speaks with. I’ve read books that take 9 hours to say what this guys just said in 30 minutes
Masterpiece
Hard work: 0:01 - 3:03
Embrace Uncertainty: 3:04 - 9:09
The weekend: 9:10 - 11:50
Competition: 11:51 - 14:33
Friendship: 14:34 - 16:40
Haters: 16:41 - 18:18
Negative Emotions: 18:19 - 20:30
Taking Advice: 20:30 - 24:58 (includes give-ask concept)
“But if it makes you better, no effort is wasted.” Every creative person needs to hear this at least weekly.
SUPER AWESOME 💯
When you work for yourself you aren't getting paid to be there, you're only getting paid for what you do! 💯🔥
and even then we have to do so much more besides just the product/service we sell ahahha
lol 😂what a reality said in 1 sentence.
Great comment
I've won the lottery with my spouse. She has been with me through thick and thin since middle school, and has never stopped believing in me. Even when 'the band was going to make it', even when I quit my six figure job to become an artist, and then 5 years later started a marketing agency. She is the best, and I'm so grateful for her.
❤ 🍀 Blessed. A unicorn 🦄
God Bless 🙏🙏
And here I thought his advice to his poorer self was to gather a bunch of buddies and loot retail stores!
Beautiful, thanks for sharing.
Dude same here. And now I'm traveling the world with her and my kids.
Note to self: Don't read the comments. JUST GET THE F TO WORK!
I literally at work right now on break lol
This is a pure of example of “giving for free” this is pure gold & it is what many people are aware of in regards to reaching success. There is a level of clarity hearing out loud from an idol that has built an empire for themselves. Keep pushing, keep providing value. & thank you again Mr. Alex for practicing what you preach.
The talking points on anxiety and hopelessness, I just experienced something for the first time in my life I couldn't just bounce back from. It felt like grief akin to the feeling of losing a loved one yet no tears were shed. This was a gut punch from someone that I thought was doing business in good faith when out of nowhere they completely changed character and I didn't see it coming meaning it completely shook me internally that I couldn't even problem solve properly. It kept me up for days at a time and I couldn't get them out of my head as I tried to assess what I did wrong rather than blaming them since I take extreme accountability on that part. Alex your advice really helped me today figure out what happened to me and it gave me the relief I needed to understand about what was going on. Appreciate you and all that you give out for free.
QQQ
You know it’s a extremely informative video when you genuinely start taking notes👀
Always take notes. Then read them back each week. Then put into action what you have noted down.
I watched every video this dude made from start to finish. And man’s taught me more than any teacher iv ever had. Taught me more than my father has in this lifetime
That’s not it. You’re just in a mindset to actually LEARN and LISTEN now. I’m sure, if your dad was halfway decent, he was telling you 80% of this since you were 5…
@@stevencosgrove1841exactly on the money!
Alex has refined his ideas to a physics level of precision indeed
Impressive, impressive, impressive
Isn't it crazy that we live in a day and age where we just get access to this information that can change perspectives and even lives, for free.
This is the prime example of the process of evolution to the next level as humankind.
Shared raw experience and education at a large scale.
Thank you for doing your part Alex, it's much more than business.
Edit:
After watching the whole video and 4 pages of notes later, just wanna say that a like is too short of an appretiation for this ridiculous amount of value.
true
💯💯!
"The longer you can delay the reward for the work that you do, the greater the outcome is." Hormozi 2:50 This one resonates with me.
This video speaks to me and summarizes where am at right now: family and friends false expectations, uncertainty, feeling lost, learning tons with no results, giving up 15 years of university studies including completed PhD...the dream outcomes seem impossible to achieve. Thank you for reminding me of one thing I believe in. Skills are more important than a fast outcome.
Sometimes Alex says things that I say to myself. Even though he's WAY far ahead of me, it lets me know I'm on the right path.
Same, it feels nice to listen to lots of other guys regarding a dozen different aspects, and knowing they're the top dogs, and I'm like, oh shoot that's what I already preach or strive for anyways
Second this. Same here.
Exactly but he definitely puts it in better words
It really helps to reinforce what you were kinda or pretty sure of.
Heyy i would love to help you reach your goals, free of charge
I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $90k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $31k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
*@elsiechamberlain7773* That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
I'm being guided by "Camille Alicia Garcia." who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.
I checked Camille up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
I always have difficulties with these kinds of advice. While they are true, they only describe, what the mindset and the behaviours are that are needed, but not how to get to those mindsets and behaviours. Like "embrace uncertainty". I can tell myself to embrace uncertainty, but when the uncertainty is there, it's still so emotionally burdensome that I start to get mental and physical symptoms like sleeplessness, sickness, excessive gagging, vomitting, heartburn, trembling, palpitations, focus problems, depression. Of course I can push through that some time, but when the concentration isn't there not much will come out of it. And I cannot force myself to have the focus. So a really valuable advice would not be to "embrace uncertainty", but how to avoid getting sick from it.
Man this advice is insanely good and so too the point. This just saved me so much time reading books…
Alex at it again, dropping an Insane amount of wisdom just for free! Great value!
This video is reassuring. It’s really difficult to stick with it especially when everyone around you has stability and tries to convince you to stay in the 9-5 trap. That’s not the life any of us want, do not settle. If you’re gonna fail, might as well go down swinging rather than submit to a life of daily misery and low aspirations. Staying stuck in a job/career you hate is more of a failure than trying at entrepreneurship and failing.
I've come to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87,000 and sold it for $197,000. My second home, acquired for $170,000, was later sold for $320,000, and my third property, purchased at $300,000, fetched $589,000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal._.,
Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *Jenny Pamogas Canaya,* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner..||
Not hard to make money on real estate. But ignite your home, you’ve made no money.
In the link in my bio I have a list of the best newsletters for entrepreneurs. Hope this helps someone. Keep grinding
I also read newsletters on business, solid advice
Thanks 🙏🏼
These bots need to stop.. if you guys actually listened to Alex the world needs less sh*t content / sucky fluff
@@har.19I’m not a bot?
Yes you are @@AlexJohnson-jc8cs
I relate to how in detail Alex analyses things, mine comes from anxiety mainly but I believe what he’s saying is the hard truth that no one likes talking about like friends rooting for you when going off on your own and all
I’ve been working as an entrepreneur 7 days a week, no vacations, no guarantees for over a decade. I’m now on the precipice of success. Hormozi speaks the truth.
Keep going brother!!
@@bmejia220 Thanks beother You as well!
Awesome reality check, thanks
Alex I love you man. You showed me how much better I can be by being so damn good. It’s a life changing lesson. Thank you. Cheers!
all quotes were really valuable , Curious, I intend retiring/working much less in 5 years and keen to know best, how people split their pay, how much of it goes into savings, spendings or investments? I earn up to $180K per year, but nothing to show for it yet
for someone who needs some catch-up, consider the 80/20 model. Needs and wants / Investments
There are a lot of people like this. Im 52 and just getting serious about retirement. Its sad because the time to get serious was 20 years ago or even younger.
For me, I'm quite lucky exposed to financial planning at early age, started work at 21 and invested to my 401k through my employer, going forward I purchased first home at 33, unfortunately got laid-off afterwards, amid 2020 covid-outbreak. At once, I hired an advisor to help stay afloat, and as of today, I'm only 25% short of achieving my 7-figure ballpark goal after subsequents investments.
bravo, this is striking! mind sharing info of the advisor guiding you pleas? i'm in dire need of growing my reserve
My advisor is Laura Grace Abels, a renowned figure in portfolio diversity. I recommend researching her further on the web, she's well established with over two decades of experience in her line of work.
1:10 Counting in 100s is a totally new perspective for me to look at. Pure GOLD! Other than that, I aim to talk as articulate and simple as Alex does. Every word and sentence just makes sense, and he gets his point across quickly, which is difficult for me at least.
Alex, I have to say you are absolutely amazing. Hitting the mail right on its head. Thank you sir, always nice to learn something from the best.
it's funny because we read all these tweets as they were tweeted, but hearing them here, and the context behind them, hits 100x harder
Man. As someone going through exactly what you described throughout this video, I really appreciate this man. Feeling energized this AM!!!
19:10
Shows how much you know Alex.
Please stick to your strengths 🙏🏼
I am going to listen to this every day for next 100 days. Pure gold 🥇
The way you've shared your journey and the lessons you've learned is incredibly relatable and motivating.
The emphasis on the importance of hard work, patience, and strategic planning really resonated with me.
I'm curious, during those moments when you felt like giving up, what kept you going?
Also, how do you balance the need for hard work with the importance of rest and self-care?
His content is good for himself, but its not the general truth. So many people got rich just for doing dumb shit on tik tok or whatever. Hard work leads basically many people to nothing.
I am telling you right now... this guy IS going to change me from the inside out!... It's like he understands me and my constant challenges as an entrepreneur without ever having met me. Thank you so much, Alex. I will consume your content in every way I possibly can, as often as I possibly can
This is so encouraging cause I thought that constant uncertainty just meant I was doing things wrong, thank you lad
This was so dense it felt like an hour of UA-cam shorts - going to have to rewatch a bunch! Also crazy that this abundance of quality information can be found for free 🤯
I remember my first enterprise.
It was a tourist business where I advertised abroad in a foreign language.
It was 1993 after a period of unemployment.
I saw this business from the outside (aka. i copied someone's results..not their business model, i didn't know what that was) and decided that I needed to "crack the code" on what they were doing.
With what i had, I spent my resources and with what felt like a lot of luck I had my first profit in about 4 months.
I have repeated that several times.
Some plans failed but others succeeded.
The take away.... A plan that will work (some don't) has almost a life of it's own when you start it.
Thank you! Really needed this. I felt so lost and overwhelmed for the last couple of months. Like I don't even know what I want to do anymore at this point.
This 💩 is just straight ⛽️ fr fr like everything anyone has ever said this sums it all up and cuts the 🐂💩 🤯 we needed this energy
The fact that you did that for charity before profit is pretty amazing. I feel like we got a glimpse into your teddy bear heart. 👏🏽👏🏽😉
Thank you so much for the video! You are always giving everyone super helpful content
Just this video itself is worth so much money, crazy that he puts this out for free, life changing advice!
This is pure motivation! Hormozination this is our move we should not neglect! 💪 Thank you Alex for changing my life now and probably forever in the future!
I honestly thought you had typed 'Harmozination' ... strange how just two letters make a difference :D
@@nickb193 sorry autocorrect changed it :/ my bad
I love videos like this! No fluff, just dropping gems!
Insightful, really interesting to see how "work" could be viewed in a more personal manner
It’s always astonishing to be how as an individual that pursues the better part of himself can forget the tools that help shape him. I’ll listen to this driving down the road and I haven’t listened to you in a couple of months not for any reason I was just on another mission and I reposted thisto my Facebook page which has 10,000 followers as something greater than I could ever say. Than I could ever offer I needed this thank you.
This video has more focus on the vocals. I think the audio is better!
Alex, you are an inspiration. Thank you for uploading this!
This is one of my favorite videos! Thank you, Alex!… Love the “pot” example…
The best free yet invaluable stuff - You are awesome. Keep it up!
This is a video that def needs multiple watch throughs! Thanks for posting ❤
i believe this is the best video for any guy whos in his 20s i have watched most of your videos and all of em are good but this one is so jam packed with all the relevant info thats insane
So many insightful perspectives from this video. I quit my job to work on this project and the uncertainty just never goes away but it's good to know that's how it's supposed to feel. So much content packed in here it definitely needs a rewatch to internalize all of it.
Thanks Alex. Truly one of the few that tells all. My favorite creator on the platform. Thank You.
Every single advice was a gem.
Absolutley love this!! Volume negates luck is my current favourite! Go Alex! 💪🏻💪🏻
Your videos have been life-changing man. I'm serious. I watched at least 20-30 of your videos and it's just awesome that many of the tips you give out you can immediately start applying and seeing a major difference, like with job interviews, etc.
most men have no fathers so these guys on UA-cam serve the purpose
The anxiety felt from too many options hit Home. I made a decision, made 10 sales calls and made 3 shorts for content and felt 1000% better. Thank you 🙏 Alex
Thank you man, cant believe how much value you share! You encourage me deeply!
So much value here. I’m going to have to watch this a few more times
thanks for the constant gems you drop and share with us! we will thank you on our way to success and when we made it!
1) Hard Work
2) Embrace Uncertainty
3) The Weekend
4) Competition
5) Friendship
6) Haters
7) Negative Emotion
#3 The Strongend 😜
Alex, thank you for this very real and honest video. It’s made a real difference 🙏
This addresses so many thoughts i've been having, so valuable.
I need to listen to this at least 3 times to process all the good stuff he gave
I just turned 21 years old and I have a business I’m working on, but I’m re-evaluating my business plan and budget right now, but I’m working in law enforcement right now, and want to grow my youtube channel, but I love the idea of how hard entrepreneurship is because I think a lot of these wannabe entrepreneurs want to the work less, not work hard scheme which is bull**** because entrepreneurship is fu**ing hard! There is that book “The hard things about hard things.” That book sums up how hard business is, but in my late 20’s I’m hoping I’m a full on entrepreneur, it just sounds so exciting to me regardless of how difficult it is.
Boy, this was so much. It was exhausting, hurtful, enlightening, eye opening and a kick in the butt. Loved it. Thank you AGAIN, as usual.
Thank you for this video.!!! I’m doing ok for now but I know I should be doing more and I’m going to start shifting my time. Less time with entertainment and distraction and more time with goal oriented work!!!! 2024 is our year guys!!!!!!!😤💪🏾💯🏆🔥
I love these videos, it can help me push through super long work days. Thank you
Thanx for being real about your success! I will play this video on repeat to remind myself how to stay on track 😉💪
He speaks such a concentrated amount of experience in such a short time. Impressive.
00:03 Working harder leads to realizing your true potential and achieving greatness.
01:34 Don't be afraid of making a lot of shitty first drafts
04:48 Building a reputation and associating with positive things takes time and effort.
06:20 The key to success in business is building a strong foundation and leveraging your resources.
09:24 Work is important for a long and fulfilling life.
10:54 Work consistently and avoid undoing your progress with bad habits.
14:00 Competition is good for personal growth
15:30 Success reminds people of their unfulfilled dreams
18:15 Sadness comes from a lack of options, anxiety comes from too many options.
19:27 Take control of your own actions and behavior
22:18 Providing value for free can lead to testimonials, referrals, and potential paying customers.
23:39 Providing value to others can lead to opportunities and income
This is an incredible video. Seriously, I've encountered some of these and your perspective is very enlightening.
So much wisdom for free. Thanks Alex!
Your a big motivator, love these videos and keeps me on the right path keep it up because you changing peoples lives with this information👏👏
Thanks Alex, very insightful
Excalty what you explained at 15:27 is what I'm experiencing since I launched my coaching program.
Thank you sir for such a important discussion ❤❤
Loved this video. Thanks so much for your straight and honest mind.💥
Just pure value with every video. I am Eternally grateful for everything that Alex does. I cannot put a price on how much it has helped in my business life. Thanks again
3:00 what entrepeneurship is, not being sure if it’s gonna work. Just uncertainty and occasional milestones.
4:10 what kind of offer the real entrepeneurship is, sticking with the same thing even though it’s hard, you’re not sure if it’s gonna work , takes forever
6:10 what kind of vehicle are you in, what tools do you have?
7:10 running a restaurant is the same rough difficulty as making a much bigger business
8:00 why you shouldn’t be afraid of wasted effort in business. Battling uncertainty is built into the game. Your skills are the true product of the work
8:50 skills are your retirement
Absolutely Amazing. Talk about value. Great video that will not just motivate but set a strong foundation on work ethic and mental frame while still acknowledging some parts which could be taken with a grail of salt I.e “If they don’t have what you want , don’t listen to what they say” and “haters are just feedback “.
Just spewing insanely valuable lessons back to back so fast I keep having to pause, think, and rewatch.
This is pretty solid advice. I would suggest finding more details after watching this but everything he’s says is pretty true.
When I first stumbled about Alex with his glitchy camera and hearing what he had to say, I knew this guy was different from everyone. Alex is my go to guy for knowledge (even when I do not agree with everything), and I look at him like an older cousin I never met. I know I will reach my version of success with his help. Thank you Alex
This is one of the most enlightining and informative 24 minutes 58 seconds of my life Alex thanks so much!
A solid plan and competing to be the very best will put you at the top!
I watch these type of videos all day everyday to learn something new or remind myself what I have to do. This video is perfect and all real shit. Give thanks for the knowledge bro 🙌🏾💪🏾🙏🏾
Man, so much value in one video, LESS THAN HALF AN HOUR.
There’s 2 paths it seems ! Path one make many shitty first drafts then that builds up skills. Path two make a great first time from refinishing the first draft many times to create 1 excellent work
How smart is this guy?!
Very. 😎 And you can be too, just gotta learn from him. There's so much to.
You're absolutely right. Tell this to my plants!!!
I realized that we only need weekends from the dead end 9-5, I work 7 days a week on my stuff because it's required in order to be successful for my brand.
Thank you for your content.
This has a lot of great things to think about. Thank you for sharing
Alex truly puts things perspective
I made my first actually profitable business thanks to this stuff - it's been such a wild year. Thank you!