"I'm Broke, What Business Do I Start?"
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- Опубліковано 28 вер 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.
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
Want to go through this process with a community, tools, and my help? Go here: skool.com/games
It sounds like this community is for online service businesses only, not physical product businesses. Is that right?
thanks brother
Great lesson today, Alex.
I'll put some of this into practice asap.
Still didn’t learn anything.
I love your content brother.I can help create better UA-cam thumbnails for you that'll attract more viewers ,so what do you say?
The teachings on this channel are always top notch so informative and easy to understand, it's very hard to find good content online these days
I agree with you on everything, these days finding a financial mentor is a tough challenge which is why I am happy and grateful to have been introduced to my mentor Robert Andrew by a friend
I have been in the financial system for over a decade now
Robert Andrew is the best
Who exactly is this Mr. Robert?
what does he do?
And how can I take advantage of him
sono così felice di sentire parlare di Robert qui, merita tutti i riconoscimenti che sta ricevendo
00:01 Identifying business ideas using the three PS framework
01:53 Focus on solving a specific problem to build a successful business.
05:29 Identify personal problem to solve for massive business potential
07:13 Starting a business based on personal experience can lead to better understanding and care for the customer.
11:12 Identify unique market positioning with minimal competitors
13:11 Understanding customer pain points and benefits is crucial for effective marketing
16:54 Conduct interviews to understand customer pains and aspirations.
18:22 Focus on developing a unique mechanism to differentiate your business.
21:34 Create a proprietary process and name it to become your unique mechanism.
23:12 Narrow down your target audience and utilize a specific system to attract them.
Thanks goat
Not one person watching this video is going to do any of this LOL.
Don't be afraid to make mistakes, that's how your experience grows!
I don't know who you are - But in one video you single-handedly, with expert precision, just casually explained what about 50 other UA-cam videos tried to do.
I am very grateful to you for choosing to make this and to release real helpful content. Thank you.
Thanks Sandy Smith
Now this is the most valuable and straightforward business knowledge than any other content or a college degree
Whiteboard videos hit different
hell yeah
Facts
You're a blessing to the world Alex 🌎
Hormozi out here changing lives frfr
The background influence this video has is, it's preparing more people to buy the third book, $100M SALES
Sounds pretty cool! Man you're financial know-how expert. Respect bruuh.
So true! Wealth has no shortcuts, here are ways to acquire it..🔥
I had decisions that grew my finances (gathered over 1M in 2yrs) with heIp of my financiaI pIanner. Living the dream, hoping to retire next year.g
Elizabeth Greenhunts
get to her with the name
Was watching older hormozi videos, but now im here
But I don’t want to learn editing since I want to focus on preparing content and shoot it myself, so I need an editor and we grow together.
were is the bus?
I was feeling SO FRUSTRATED coming into this video. By the time you to combine, so many things made sense to me about my I keep failing at making my many skills & passions into even one profitable business.
This is actually good advice (only about 5 minutes in). I work in an innovation lab for a large company, I build new products every day, which is kind of like starting a company. The biggest thing you can do wrong is start with "what do I think someone would want". The problem with that is you'll come up with a really good story that sounds like something someone would want... and then you'll go out and build it, and when you get to the market, you'll find that it's not really solving someones "most important problem". That's critical because that's what people will spend money on. If you just lost a leg, you're not going to be concerned with a paper cut, even if it hurts. You'll going to be hella concerned about that leg. So when we interview customers, that's the information I look for.
Cool story, bro.
@@justincoulter1992😂
@Stevenpwalsh he actually believes that you should find out what people want before you create it. Continue watching his content and you’ll see.
@@thechuckellis That's exactly what I said. I think the part i'm ephasizing, though he doesn't go on to say it, is you need to validate the market before you make it. I've seen a lot of people start building with improper market validation...
@@Stevenpwalshyep, proof of concept is exactly that
Muscle confusion could also be called periodization, which is a Hallmark in fitness. It just doesn't rhyme or alliterate 😊
‼GUYS TAKE ACTION NOW‼This video is powerful. After watching this video we should take a moment and reflect on what we just learned.
Pretty clever play on words, “1 out of 2”, that’s 50/50 chance.
It’s like saying 50 out of 100, but in a more toned down expression.
He's basically explain what he's doing by us watching the video
Wealth is built in both bull or bear market and also wealth transfers from the impatient to the patient. One of the best ways to succeed in crypto is by trading your assets with a good strategy.
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
imagine investing in Btcoin earlier.... You could have been a multi millionaire precently
@@ramadhanipongela1360 You are right. Been thinking of going into gold and cyptocurrency
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
You’re right but a lot of people remain poor due to ignorance
I am in a unique niche selling aircraft and helicopter insurance. These videos are amazing. I just sent emails to all my customers asking if they needed anything mid year and I got some many new leads. Thanks Alex for your great advice in every video. :)
How can you use a that profession for a business if probably you don’t have the budget to start an insurance company?
So much value here on a platter, Thanks Alex!
Hormozi is pioneering the future for millions of people.
I'm creating my whole business inspired from this video. Thank you.
Alex and Leila are always so inspiring and create a lot of informative videos. Thanks for this! The ENTJ and INTJ powerhouse 💪💪
Thank you so much for this 🙂 you’re creating leaders and you’re a legend !!❤
Forever, always grateful Sandy Smith!
Man this shows the level how grounded this guy really is!
i thank god for find you and leila. You 2 are my mentor right now
This guy is droppin´pure quality just from the beginning of his day 😅
@Hormozi-ChanneI sorry I didn't understand (I'm spanish)
Alex. I don't enjoy calling you out, but it needs to be done on this one.
"1 out of 2 make their first dollar" is complete BS because it's REQUIRED that you sign up another person and have them pay you at least $1 for your community before Skool will allow it to be discovered by anybody.
I’d be willing to bet that most people just sign up (and pay) for two accounts.
Does that count as "making their first dollar"? And what exactly does signing up another person gain for yourself? (Just asking to understand, because I don't. I hope it isn't as scummy as you make it appear)
@@josephburkhart2467I hope so
No it’s not. You don’t know what you’re talking about.
@@Hamza97 Go through the process yourself.
Then come back here and apologize.
So thankful for your teaching and help
Moses harmozi for me ,you are parting the sea my man
This is 10x times better than the new Harvard MBA class video in EQ channel.
Hormozi MBA>> Harvard MBA
Simple breakdown...easy to understand. Time to implement :)
Unfortunately still don’t know what to do...
It's like those insanely targeted T-shirt ads you used to see on Facebook. "My name is Jake, I love the Cubs, and listen to Guns N Roses while I bench press. Amen".
We're all gonna make it.
@zed-zn3eu I just don’t wanna be a UA-camr bro, I which there was a business model for beginners as good as this one without being a UA-camr
@@YaBoyfelipe don't have to be, man. Word of mouth and referrals are still powerful. Not everything needs to be online.
@@giuseppebiundo6356 Thank you bro, you right
I worked some retail jobs, joined the Army a few years, and got a general studies degree. I don't feel I have any specific skills in anything, or any particular pain, profession or passion. I've had tons of problems with relationships, weight, money, careers, etc, but I haven't "solved" any of them. I have some vague superficial skills in writing and video editing and image editing perhaps. What can I start a business around? 🤔
I am 80% just like you man, and i have the same question too
Probably marketing agency since you have video editing under your belt
You’re a veteran. There’s a lot you can do with that. What are the pains you experienced before joining, while in bootcamp and when you separated.
Talk to people about discipline and motivating self.
I really like your content, your presentation of the material! Thank you sir!
Im going to re-watch this with breakfast every day for a month, I've made a start but progress is slow
Can you make a video on B2B? I’ve started my composite manufacturing company, but Im finding it difficult to have a unique value proposition. Most manufacturing companies use proprietary machinery and processes as their UVP. Right now i’m still one man who can build carbon, fibreglass, kevlar, etc. parts. Business will keep growing without my UVP, but i’m worried about getting funding along with my general progression if i have traction, but no strong UVP.
Just my 2cents...But have you ever considered how and where your business is adding value to the value chain? B2B is about identifying how you can add value/contribute to the existing value chain and what that proposition yields as an end result to your target market i.e. other big businesses. Sometimes partnering/working with your "competitor" is knowing how it adds value to their supplier chain, instead of trying to have a bite into the existing pie yourself. Building your business and market credibility this way can be a low risk and cost effective method.
@@lionridds thank you for that, honestly i’ve been thinking about that for a longtime. I’ve been offered a subcontracting gig for a real big composites company and thats been the plan
Im not watching another video until i take action on this
Need to download this into my veins. Actually have some ideas for businesses for the first time ever maybe outside of service ones.
That without looking cringe line had me on the floor🔥🔥🔥🔥🤣🤣 the stare!!!
Awesome quick workshop!
Thanks, Alex 🤘
This is great😢 something everything should know or atleast see
Hi all, i’ve been watching alex for a while and realised that my biggest wall isn’t how to market or start a business but rather knowing what i want to do as a business model in particular. I’m turning 16 next month, does anyone have any advice as to how they gained inspiration on their own business models? any specific videos or topics i should research into? I feel like things that i may be passionate about can’t be solved as a business but is rather a more emotional service i can provide rather than something physical. Maybe i should sit on this and think deeper, but all advice
appreciated thanks🙏🏽
Good for you! I wish I had access to this kinda stuff at your age...just remember that ALL businesses are based in some.kind of emotion...fear, love, anger, joy, sadness, etc...if you really listen and look close enough ads are always reaching for some kind of emotion out of you so you'll respond and then buy...identify the "pain" points and offer your solution on how they can feel less "pain" or none at all...and or flip the script and if there isn't a 'pain' point then speak to and answer how they can expand and grow fr where they currently are to the next level...Lmk if any of this helps-God bless🙏🏾
@@AtpeaceMakita God bless man honestly appreciate the response, i do understand what your saying; i guess the answer cont come overnight huh. Is there any methods or any videos u could suggest to me that could help enable this type of thinking? i have a 10 week summer so no better time than now to start understanding myself and move from there. Thanks once again🙏🏽
Secret Pathway To Triumph is so unique. I can’t believe I hadn’t heard about it sooner. It’s amazing how life-changing this can be.
I don’t know how I landed on to your video but dammm am falling in love with you 😊
my passion is watching business videos and reading about businesses lol
I really appreciate that he remembers the “old” days when he first began…ie. the pizza place story
😊
I just want to point out his effortless product placement and marketing while he continues to teach and add value on on a topic related to product placement which is also in the above YT store. Amazing!!!
Great video Alex. I learned a lot.
I love this! Do more videos around copywriting please!
Excellent ❤ Thanks
what if I don't have a passion, just bunch of hobbies, I quit the job I was doing, because it was boring and I wasn't interested, and there is no pain? this video didn't help.
This was enlightening
Worth taking notes, saving and listening twice.
your videos motivates me for my channel
Good Stuff Alex..Thanks
Figure out the problem. Provide the solution. My problem is figuring out the problem.
Perfect video. But how to validate the idea? How to se if there is enough demand? Just to make sure to not wasting on something that will not work due to decreased demand or not just needed now?
Harold Persivale,...thinking and destiny,...sooo,this is somewhat simple yet somewhat complicated,.i'm going to start it like this ,..if yu are gorgeous and truly dont know it , the world of people '' are constantly kissing yor backside and opening doors for yu, its not their fault,...but what they dont realize is that their physice and beauty is why this is happening, and on top of that they have confidence because they havent experienced the same world that us lesser attractve people live with,...they will never see that its not the same for the rest of us...im not saying that they are not intelligent ,..creative or engageing,.or have many other values. thats not my point..those attributes are just another asset as well,...sooo,..here we go..stage 2 ,..which is my main point...he stated somewhere in his book something along the lines of if yu are born under these signs'',.conditions yu will always have money..sooo what im saying is even though alot of yu out there want to show how easy it is, yu may want to consider that yu may mean well however its not the same reality??
We can break the Spirit Of poverty off of our family with this information
Best video I've seen u do it was easy to get❤ur so nice❤
alex this right here saved me my life and my channel thank you i will come back and remember this thank you very much
I love your voice. Amazing info and all of that but you sound a little like Seth Rogan. In the best way 🙏🏾
Bro you are awesome
Make a bad idea less wrong. - Hormozi
I'm 17, My dad runs 2 companies and the fear of making a lot of money is getting to me.
simply WOW!
Guys the thing in the middle east is totally different and i have heard all of the influencers but can be fitted here.
Eather someone get me a visa
Or Idk .
Send you a good vibes
Thanks alex
Dude, thank you
what if I didnt like my job at all and I dont want to be in that field?
What kind of business can I start?
Trying to really figure how to make my first dollar using social media
It’s called the formula for success.
You are NOT a success UNTIL you help SOMEONE ELSE become a success…
“See one
Do one
Teach one”
Literally all of these people that watch UA-cam videos and have the audacity to say “if you’re so successful then why are you still on UA-cam making videos? Clearly, you’re capping.”
first of all have zero level of maturity or real life experience and clearly know nothing.
Shoutout TNATION
u get a like, u the best
Wife: "wyding up at 3am?" Me: Alex just made a new video! Watching it before work. Wife: k love u. Me: love you to kisses ❤ 😂😂😂
Gay
I don't know why I rushed to the comments sections trying to see if there was a comment from Sandy Smith😭.
Curating the best content of Hormozi here
Nice content
Just don’t feed the kids it costs money
just 9:40 in an I'm already glade I clicked!!!
Good video, although I feel kind of cheated for not getting to learn more about how mab libs work.
Reminding me of Dan Koe
Who like Alex is a twist on Brunson et al...they all are. Fear sells, hope to eliminate it also sells.
I love you bro
Everyday value.
How do you build up that 'proof' when it's your first or second client ever instead of saying I have proof because I have helped thousand and so on and so on when ur just starting and new at it. What do you do to ensure that the experience and knowledge your providing your client able to handle any sudden hiccup or able to handle the unique life scenarios of each customer.
if that makes sense lol
You work for free in the beginning
Dude, this is great content, but this is the 3rd video with the same EXACT script. This way old followers will walk because you lose relevance. You might have gazillions of subs, but your ratio views/subs is gonna be embarrassingly low!!! Don’t fall in this trap!!
These sheets cost $100 per paper 😱
Here’s the summary of the video AI style: AMAZING
This may be a silly question. Would a done for you service make sense to start on Skool?
Jordan Businesson
Good old T-Nation
Wow, i have never clicked faster😅
$100B Debt - How to get useless degrees. Jk, go to Skool