If You Want to Start a Business in 2024, Watch This Interview
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- čas přidán 6. 02. 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.
What a legend hormozi is, it’s so cool of him to interview other legends. The Shopify guy seems like an s-tier entrepreneur, the way he speaks is so eloquent and exudes humility
Agree! Love his energy! Have u used Shopify? It was like 15 years ago for me 😅
“The Shopify Guy” Cmon now 😂
s-tier?
Humility? The fella has an issue with getting off his soapbox and letting the interviewer engage in the conversation. Probably hyped up on adderall.
Hormozi could have an entire podcast devoted to interviewing high level peeps like Harley. I’d listen to every one. Talk about League Of Legends! 🎉
Guy is worth $100,000,000,000 - wears a basic black shirt and is super kind. Biggest flex ever ngl love it
He is not worth 100 bn, but besides that you right 😊
I mean I don't think he's a co-founder so probably at this point has
People who are broke wear their money. People have money aren't trying to impress with what they wear, they just dress comfy
@beyondkino, who is buying the 10k shoes, then? Poor people?
Where did you even get this number from? 🤨 If he is worth 100billion then he would be in the top 15 list of worlds richest people, which he isnt.
Damn the fact that you can just listen to the thoughts of billionaires and put them into your own head for free is insane
Yeah. What a privilege Internet allows us!
Who's the billionaire?
He isnt tho
@@LaloSalamanca-og8wudamn near
It's never for free
39:39 3 big growth motors ⚙️
Don't promote the product. Make a game and promote the game.
44:27 influencer marketing 2.0
49:26 partnership strategy Alex
51:06 Alex' tips on creating partnerships
56:25 abundance mindset
1:04:15 number 1 take-away for Alex
1:13:05 you win in the weeds
1:20:55 Alex' definition of authenticity
Thx for this. 🙏🏽
@@popstarbootycamp4304 my pleasure🙂
@@popstarbootycamp4304 my pleasure!🙂
top comment. helped me make a decision, because i could skip to 51:06.
Thank you @krivar and psbc
Cannot believe the growth of this channel. Goes to show how valuable your content is. When I first subscribed (about 2 years ago) you had 8k followers!! At that point I had no money. I said I was going to watch all of your content but there is so much I could not keep up and business got too busy!! Anyway, we are on track to do 1m this financial year!! Hoping one day to do business with you guys.
Congratulations on the successful launch of your business!
You don’t mind me asking about what business you are in?
As long as you give them money, your dreams of doing business with them will always be real. ❤ Keep going. Believe in yourself... And give them money. Good luck!
I love seeing the student mode of this interview. You can actually see Alex taking notes and having "aha" moments during the conversation. A powerful example to always keep learning even when certain levels of material success have been achieved.
I’m so thankful for this incredible video and the possibility to watch 90minutes of pure value for damn free!!! I’m very privileged for having this kind of access and that you both made this video for all of us!
And I actually never heard of Harley before.. but he is a hella sympathetic and kind man! Two authentic entrepreneurs!
That’s probably my main lesson I’m taking from this: being truly authentic about whatever your doing, and your gonna be rewarded in the long game
Harley is such an incredibly articulate speaker! Really enjoyed listening to this
Harley seemed super impressionable for a guy that manages such a large company with 12 figures, lol. He was the exact opposite of what I imagined him to be when it came to speaking. Cheers!
Yes, I agree 👍
@@thelifewithnateI think he's just passionate for what he does.
This is one of the best videos I've ever seen. Literally.This dude is real.
It‘s incredible that we get to watch this FOR FREE!!! Thank you so much Alex!
Damn congrats on 2M subscribers Alex! Been following since you had 14k 🎉
Me too!😀 🎉
I’ve been following since 13k!! Nbd……. Jk
@@plado24k Okay you win 😅
What a guy! charisma, humility, gratitude, and focus. And the best thing of all he has a kind, happy energy that seems limitless ❤
"Make your partners really rich" 53:00
I didn't even think about it from this aspect... Wow
Luke 9:48 "For he who is least among you all is the one who is great.”
Absolutely
Indeed amen 🙏🏻
Lmao used a quote from the Bible used to describe God applying it to a tech mogul. They aren't God's just rich guys.
The phrase "everybody eats" always plays in my head during business dealings. It feels good knowing your partners/employees are also well taken care of.
@@kennethb6211The body is the house of God
You can just tell how much he loves business by his excitement of explaining how things work
It is crazy just how humble he is going into the interview! You've got two powerhouses with Hormozi entering the billion arena soon and then a 12 figure business owner already.
The biggest takeaway among other takeaways is the cost of failure now compared to other times. If you fail at something 200 years ago with starting a business, its over. Now, it is the exact opposite with you being able to recover from it.
One gold nugget in a sea of gold nuggets!
Hormozi is a pretender.
@@RealHomeRecordingwho are you? 💀💀💀
@@SneakerSupplyer someone who can spot a bull snitter.
And yet here you are.@@RealHomeRecording
Hormozi real name is Horowitz@@RealHomeRecording
Important Nuggets I got for Harley:
1. Encourage influencers to become the users of your product so that they can promote it naturally to their audience. Paying them to do so no longer works as much.
2. Micro-management is still needed even when the employees number grows to 100 or more because little things still matter.
3. Create economies of scale by providing extra required services to your users.
4. Create more opportunities for your partners in the ecosystem, and make them even richer than you.
5. Make your TAM to be a complete pie not a part of the pie.
I loved the section of how the cost of failure is really low - this does mean lower barrier to entry. Start by building an audience.
This was one of the most valuable videos I've ever watched. Many thanks to you both.
best alex content in a while! i love the natural communication. alex is a great interviewer. please do more of these!
Wow! Amazing interview, Alex! Incredible amounts of knowledge and insights from both Harley and yourself.. Really appreciate the willingness of you both for modeling vulnerability for all of us.. so powerful!
Thank you both for such a great interview. Super fun to listen to, insightful, and honest.
Wow .. what a humble and genuine guy .. and you can tell he is so passionate ..! So glad he is successful and is helping others with his business.!
Amazing energy. This was so inspiring. Thanks to both of you for sharing your time and knowledge 🏆
this was gold and one of the best episodes from the game to me in a long time.
Encouraging to see a genuine nice guy do so well yet sharing what he learned.
This pod is so full of insights and inspiration. Appreciate this man.
This was so great, definitely widened my mind. Something like "Never count the others money" this was so cool!Thank you so much guys!
At first I planned to watch just 15 minutes but I couldn't stop and ended up sacrifiying 1 hour of sleep to watch the full interview. Thanks to Alex and Harvey for being so genuine, transparent, helpful and generous with their knowledge and experience.
This was awesome! Thanks so much for this!
Good job. Było tak intensywnie, że będę musiał obejrzeć to przynajmniej jeszcze kilka razy, aby móc w pełni cieszyć się tą wiedzą. :-) Oczywiście sub dla Alex'a i Harley'a
Totally loved this interview! I also love the tip about not watching your partnership's pockets. I've definitely been guilty of that even though I know when they win, I do too.
I'll be saving this for future encouragement 😊
Alex content is helping me a lot in becoming smarter and more knowledgeable when it comes to business. He gives a tone of value all the time💯
Congrats on 2 mil subscribers!!! 🎉 What a good interview!
GREATTTT Episode!! Tons of value & incredible insights from 2 giants!! These are amazing!! Thank you for arranging, I’m feeling so lucky to be alive in a day & age where this content is available & where we can pursue entrepreneurship seriously 🙌🏽
The individual contributor track makes so much sense! Thanks for the insights
I ran a service based business on shopify because it was cheaper. Works well for about 100 repeating customers
This man is absolutely real! Thanks for this video.
You are my new Patrick Bet David. In the old days before his Podcast, his videos were pure gold. I learned so much from him and it brought me value. You are doing the same thing. I bought both of your books and I am binge watching your videos. Thank you.
Thank you so much, Alex!🙏
Always love these vids ❤
i love how alex treats the audience like his own students. it really adds value to the content that is being consumed
thanks alex and harley, another amazing video!
Great content thank you for doing it made A few cent's while watching it!
Crazy watching someone having 100% confidence he is going to change the world and on top of that he is going to create people who change the world. Wild… love the content Mozi Media💪🏽
The internet lets you watch it happen live also so wild😂
This talk is a gift , thank you both and may God bless you too forever
Hey, if you see this I pray for you that you wil reach your goals. Work so much until it becomes reasonable to be successful
Thank you so much. This was very thoughtful. Much success to you. God bless you and keep you and your family.
My favorite part, “John.. now a multi billionaire”. From investing a small amount. That’s just amazing
Biggest takeaway in my words: Don't think about taking a piece of the pie. That makes it this finite thing. Think of it like a infinite pie and you can take (and share) whatever you want.
Thank you so much for this! To both of you!
What a cool video! How awesome of an experience Alex. Thank you!
Really loved it..
Got some amazing ideas for my business as well...
👍👍
Just purchased his book. Im ready to learn and put more into myself and my business ❤ We appreciate you Alex and Leila
I’m in the process of starting a small business. This was very helpful information. This interview makes me want to use Shopify now.
Thank you Alex
I really appreciate the "individual contributor tracks"! Not everyone provides their best value in management roles!
This interview is really cool. THANK You ALEX 👏👏👏👏👏
Honestly the nuggets of genius in this video. So inspiring!
Thank you Alex, this podcast was very valuable.
This literally changed my life. I struggle with boxing and compartmentalizing. The 1/1 Joe Rogan part made my jaw drop and was HUGE unlock for me. My passion are twerking and tech 😂 which do not together whatsoever but the confidence found in one, feeds into another. Thank you for this it was like a permission slip to be my radically authentic self 🎉
Alex, I hope you will invite more people like this in your podcast. I f.king love this episode. Value, fun and full of business lessons.
P.S. I saw 👀 you were taking notes. Respect! 🎉😊
I love to see more guest from his podcast.
Alex Hormozi continues to deliver legendary interviews, extracting invaluable insights from entrepreneurs like the Shopify CEO. The depth of knowledge shared is truly mind-blowing, making it accessible to all for free. A goldmine of wisdom!
Need that Mr. Beast collab 😤
this
Really?!?!
Why tf?
Brilliant as always
Thank You both for sharing your value ❤
Loved this chat. So insightful! Thank you
This is so valuable, thank you both for what you do!
Thank you for this gem 💯
Everyone in the comments or just seeing this video is definitely in the 1%
If you are reading this , I hope nothing but success to you ❗
Super valuable information plus this video is more motivational than I expected
Very educational! This will help a lot of people who want to start their business in 2024! 🔥
This guy really inspired me. He’s like Dean G’s little brother. Love everything about this. Thank you for the inspiration.
Another great video thanks again man
Brilliant interview! Great points, advice and insights!
We have the least amount of excuses possible of any generation, to make it in business.
When you think about the access we have to these conversations verses what it would have taken for everyone to be there in person it really puts into perspective how much better we have it.
Helpful and inspiring!
Founder of Shopify! Hays off to you and all that you have put out in the world! I am A Palestinian/ American. How can we work together to build an economic structure in Gaza? My Jewish brothers and Sisters have been doing so much on the fringes to create a sustainable future for ALL of its citizens! Thanks for this podcast Mr. Hormozi.
Not the founder. I misspoke. Lol
Love the $100M Sales book in the corner
noti gang
This episode gave me goosebumps! 33:03
Harley Finkelstein has given us information people pay hundreds of thousands of dollars for sharing his story of entrepreneurship from the start and where he is now. I watched this video from start to finish and it will only be valuable to those who take action with every word, framework and system that Harley shared along with your authenticity! Thank you Alex for sharing such tremendous value!
2M is crazy good shit Alex keep it up
The moment he mentioned different employee tracks I just knew Hormozi was going to jump on it. Absolute 🔥🔥🔥
Alex. Love this.please copy Harley and use an external mic so it’s even easier for us to avoid audio fatigue over a super-valuable 90 minutes
Value for days! Amazing video
Thankyou Alex
Loved this episode. Thank you both for doing this!
I'd love to open my own gym as a new business. Maybe I wasn't paying enough attention but I didn't get too much useful info how to do that in 2024 in Eastern Europe.
Appreciate the content though. Xx
I love how heavy Alex honed in when he said that they started just letting people optimize for their specific thing around minute 28:00
This is the type of content we love
Reminds me of Og Alex vids
Congrats on 2 million subs Alex!
Amazing content! I mean... priceless. Thanks Alex!
I just love how he's literally "whispering" his next book
Harley said something super interesting at about 8:00. He was talking about his tshirt business and he said that he was also one of the customers...
This is something that I do too; I am my own customer first. That way, i understand my customer's needs on a much more intimate level and it gives me product/service a different level of validation
Sahi kaha bro 4rabet pe bets lagana bohot easy hai, interface clear aur simple hai 📱💯
Love this guy and love Shopify!
Thank you for this great content
Excellence! Thank you both
This is such a great interview!
Great video tanks Alex and Harley ❤❤
This is an amazing story. Truly inspiring to me.
Congrats on 2 mil subs!
Dude, what I would do to work for Alex! Absolute Legend. Hopefully one day I can add enough value to Collab or something. Thanks Alex
Thank you for making this!!!
Thank you