How to get your first 5 customers
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- čas přidán 12. 02. 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 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.
Did this for my photography business. Ended up getting some big clients really early on because of it. Works incredibly well
Brother I am about do to the same. What is your niche, and how long did it take to land that first paying client?.
@@SlimeOhImman samee
So happy to hear this!! Congrats and hope its still going well for you
How did you communicate it was time for people to pay you?
@@SlimeOhIm my niche is automotive photography and it’s been an ongoing side project (not my main job just a side business) for 3 years. Took me I think 2 months of going to local car meets and meeting people to land my first paying client
Please do more intro/first step business stuff
Yes please!!
👍
No This guy is a Buffon his business is you the viewer. And u buy into it. Wake tf up
@@user-gj6rl7po9qI'm almost sorry that your life sucks.
This way I starting my landscape business. Began charging the money I should only after the foundation of referrals was established... constant flow of leads ever since.
I did basically same thing with lawn business. My prices were way too low but definitely learned a lot. When I try new services the prices end up being so low, while I learn the new skill
Yup
*To get my first 5 clients:*
1.) Do free work for 5 clients (My time is not that valuable yet) But this gets people saying yes to me, early on.
2.) Ask for honest feedback and reviews
3.) If I do a really good job, ask for a referral
4.) Once I've proven I'm valuable, I can begin to charge
Note to self: PROVING my value is much more important than the money because money always follows value.
You don't have to try to find ants. Just be a piece of floor candy and they find you.
Nice one, I like that ant 🐜 to candy analogy
This is how drug dealers operate. First they hook you on the goods for free, then you gotta pay.
All boomers say this bs i aint never seen somone just giving It out FREE.
@@daniel-un4wkYeah man, where the free drugs at? 💀💀💀
32 years alive still waiting for someone to offer me free drugs
Then I’d like to see y’all businesses then
@@daniel-un4wk😂 im selling Zanaflex 6$ a pop rn but givin 3 out for free
Yep. I have a mushroom coffee business. I got into my first 10 stores by offering to put my products on consignment. They are regular buyers to this day.
Please can you be more detailed about it
this is TRUTH. I built 5 start ups this way one at a time! common sense like Mozination, is not common.
Hey brotha can i have a chat with u can u give me some valuable knowledge for my startups?
This is 100% gold and exactly what I did to start a SaaS biz.
This came at the best time. Starting a buisness and have clients that are friends right now but need to branch out to “real” customers. Simple but makes sense.
I think the flip side of the coin is people with lots of experience, who have worked in the industry and are venturing out. They will be able to put a high $ value to their work compared to fresh out of school. But still first few clients free build a portfolio of your own clients especially if it’s in the creative fields. It’s all good being part of a big company working with large brands but when you start you are on your own and need to build it up. It won’t take long to do a handful of free clients which you can use to sell your services to new paying clients. And if you did a good job with the free clients they in my experience will be loyal customers for many years
This works.. very well! I’ve tried it starting out. If they like they will praise you and tell everyone how good you are.
Did this for one client. Now I need 4 more.
How u doing now?
@@juliusmillermusic Hit 1000 in one day today. This is not hard. You can do it. Just keep doing outreach and sell something valuable.
@@vladusaWhat is outreach?
You would know, Catholic boy@@klevens5496
Yup
Straight out of $100M leads 🔥
I think this is the only way I can start my B2B copywriting business
Totally agree.. it is good when the products.. can sell itself! ..they want to pay you for it!! longterm success and branding!!
i recently realised ive been fucking this idea up hard because everytime somebody asks me what i make i just tell them im a blacksmith and that i can make literally anything that is made of steel, a better answer would have been for me to either find out what exactly they'd be interested in or simply suggest a few of the items i can make so i can begin to bridge the gap between the known and the unknown. if i had have said one of those two things im guessing i probably wouldn't have too much trouble selling the stuff i make.
Like free samples at the mall baby!
I utilized state contacts to open our state funded job coaching agency. The state is basically funding my start up it’s dope.
That's what we are doing here at my youtube management business. Is working wonderfully
Hi! What does your business do?
You're kicking @## and taking down names!!! Keep in truck'n and enjoy the ride.
Alex, the information you're sharing with the world is a gold mine. Better than anything I learned in my life.
This is gold! Nice one, Alex
This helped me out to reach for a big youtuber and to be his editor, finally🎉
Thank You Man!
Keep Up The Good Work!
o nice Man
i believe . . your advice is so good
.
i Tried this around 17 years ago in my country PAKISTAN
.
Realy i appriciate this formula
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only Nice People will understand your advice
keep it up
Exactly! As I’m launching my executive coaching program doing this very thing
Just wow. absolutely love this thank you
Thank you sir
About to go into a housing bubble crash In Canada, I take care of my client and the builder who is their client, 41k sqft of contracts, and I fix a lot of stuff for free. Give take, learn when to take
Absolutely right. Give, to get.
This exactly how I get my 5 first customers and 5 stars reviews on a certain coding freelancer platform, however I did not work for free because it is not possible, I just charged the minimum amount allowed. There's even a guy that wanted to pay a little more ! :D
Alex... Always on point
Spot on!
Thanks for sharing this is gold
This is awesome!
Thank you !!!!!! No shit ! I have friends eating that shit up oh were worth so much I’m like you have no experience an they want to be life coaches !
I had a parking service and to get my first handful of customers I offered the spots we aquired for free but the people in the area didn’t trust us and said there had to be a catch. I feel as if the only thing that could have helped me succeed more was my pitching skills.
As long you as you know there is a way, and your focused on how to do it, you can.
If someone else did, you can too! Keep pushing for yourself 🎉
Good stuff 👏
This kinda worked for me. Most people took the free book as a courtesy
Fair enough 😁
Thank you mr Alex
Beast ❤❤❤
Uh oh I can sense the $100M Leads book is coming soon! It’s about to get crazy in the marketplace 💪🏾💪🏾💪🏾
Hell yes
200% true!
This is literally what I wanted and literally what I missed.
I need my first bookkeeping clients...hope it works 😅
I’m going to attempt to make a point out of this when I start “pre-orders” for my VPN- that I couldn’t give it away for free if I wanted to because we value customer privacy so highly we can’t trace a sale or even use of the service back to them- thus it would be abused instantly
🔥🔥🔥🔥🔥
Off the complete my side mission
Yup
I want watch full video. Where is it?
This was for a dedicated short. But you can see some videos on his channel on what to do as a beginner
100 percent true
a 5 day challenge or 3 workshop seem like can go witth this concept
Damn straight
What about if it's expensive products based business, plz explain
I've also seen business give away merch in exchange for a shared post or review. I've always thought that a good marketing tool
I guess it works for product
does it work for product as well?
Now which type of 5 clients should be focused on?
Hello, I find your information very valuable. What if you have the experience as an employee and want to create a new business that’s not out there as an owner. You do have the experience, years… do you still offer it for free?
Basically create a stack of proof.
This happened to me on accident.
I can't even give my service away, I have tried, and I'm still trying. Hopefully soon.
If that’s the case, maybe consider the possibility the market doesn’t have a need for your service 🤷🏼♀️
Sometimes we need to switch it up to get people interested, even for free 😊
@@the.kristihall thanks. Fortunately I seriously believe in my service. So I actually raised my prices to a quite bit higher. And that did the trick. I guess people really don’t value free.
How would you about this as a startup branding agency? I cant offer services for free persay but can offer heavily discounted intro pricing
What if it's project-based?
plz anyone tell me is it applicable for amazon VA?/
What if you have material costs for your services?
You could try pricing at cost. So whatever it costs you is what they pay with no markup. Costco does this with a lot of products and makes their profit on membership fees.
Alternatively, you could eat the cost and shift your mentality to seeing it as a marketing expense / paying to get reviews / lead gen
🔥
He did mention "service" not product. So this may not be sustainable to sell product for free Unless you've got funding
Aren't clients reluctant to refer you because it implies less time to service their account?
Can we serve for free in upwork or fiverr? İf i cant, how do i use those testimonials from those free services at these platforms
Im trying this but people are skeptical when you say Free
He gives away gold for free.
What about for a rental property?
It’s a little different. For a rental you want to list it online, find places where you can list and attract tenants. We are in the digital age
Like chat GPT
Now I gotta giveaway 5 cars😢😅
😮
I don't agree with him. Maybe he is right in the case of video editing or content writing but what about if the person owns a software company?
Keeping things free in a software company is not a valuable way to start.
14 days free trial will be enough, that’s what I planned doing for my software company
I got 2500 free clients what do I do now
I always charge nothing for free I never had any issues not working for free.
0:01
a track record, 👣
Client
What about coding 🗿? What take time 😭?
How if I my business manufacture sustainable furniture and also recycled plastic for all around the world especially europe, america. I need to give my first 5 customer for free? Anyone help me please answer this case.
That's CZcams, also. You make your first videos for free, and then if you're good, CZcams starts paying you
This caveman is smart
Fiverr won't let me work for free
They aren’t clients if they’re not paying you.
How can i do this subtittles? Which it effect in capcut?
Only experienced people should reply please
I wanted to know i can give away free services but how am i going to pay for the softwares and employees then ?? Is there a way ??
If yes is it discounting ??
You want to much to quickly. You'll first need to do it on your own and or with a friend or people you trust to run the company with you without pay untill you guys make a decent amount of money. In the meantime you'll need to be able to eat your running costs.
Very stupid idea, with the first five customers, you need to validate your service or product, and the worse way to do this is to do it with people who didn't pay you for it.
Everyone doesn’t necessarily have to know you’re doing it for free
I gave away small services, less than $40, for the first 4 years. It was to pre selected clients who I knew needed and could afford my more expensive services. For the last 10 years I have not done any marketing, i turn away more clients than I accept and most never ask a price.
I sell laptops, i cant just give away 5 laptops. Im very new in this buisness and dont have the capital to do stuff like that
Maybe you can give a smaller accessory with it or a repair and maintenance package
He said "service", if you're selling a product, especially a product that people already know like laptops, you don't need to offer it for free
Also, the equivalent of "free" in products is selling at cost, it's free as in your profit is zero
@@neko6 if we sell at cost, customers might think it's of only this much worth it.
@@timithy4569 my goodness, value info.....thank you for your precious time & effort in writing this long detailed comment. Appreciate 🙌
LOOOL bro you shouldn't be in business if you can't understand context. Jesus christ lmao
NO. THIS DOESNT WORK IN EVERY INDUSTRY. DO NOT LISTEN TO THIS. I DONT CARE HOW CONFIDENT THIS MAN IS IN THIS STRADGET. I DONT CARE HOW MANY PEOPLE TELL YOU IT WORKS.
THIS GETS YOU STEPPED OVER. YOULL BE KNOWN AS THE GUY WHO GIVES AWAY WORK. WHEN YOU DONT DO IT FOR FREE, THEYRE GONNA INSINUATE THAT YOU JUST DONT WANNA DO IT FOR THEM.
IF YOURE GOOD AT SOMETHING YOU NEED TO CHARGE FOR IT EVERY SINGLE TIME.
this doesn't work at all.
nobody wants it for free...
maybe because they think it's too much to be true, fake stuff...
anyway, it didn't work for me at all
This guy is a joke.
Same with product businesses? Give away your first 5 products to get reviews? Lol
Yes actually
🙏🏼🫡