Это видео недоступно.
Сожалеем об этом.
How They Keep You POOR Forever
HTML-код
- Опубликовано: 1 ноя 2022
- 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.
It’s like how Bruce Lee put it. “I don’t fear the guy who practiced 1,000 kicks, I fear guy who practice the same kick 1,000 times”
then wait till he kicks you 5 times 😏
But he also said that you have to train every part of your body...
@@jamestown9873Completely missed the point. The two don’t relate. You can’t have a strong kick if you don’t have a conditioned and trained body. You’re trying to connect 2 quotes that are speaking to different areas of martial arts/life. People like you are the worst
@@con3728 This Bruce Lee quote is not even about a kick. It's about mastering something and becoming the best at it which makes you more dangerous than someone who has acquired many skills but mastered none. People like you are the worst.
@@thedivachannel3790but this thing that you're talking about is actually that thing. You see, here is more information that basically is contrary to what you were saying. People like you are the worst.
I literally feel like this video was made for me. I run a wedding photography business that does $100k per month revenue. I was tossing about starting my next business for months. but seeing this makes me realise I am just barely scratching the surface. Going to go all in and fill the holes in the bucket, do more and 10x my business
Thank you so much Alex for these videos. They are changing lives
It's so dope seeing people like you appearing in the comments. What an awesome community!
Keep at it chief!
This might be the most successful wedding photography business Ive ever heard of.
I've always had this question👆 "How do you even scale a photography buisness?" Obviously: More photo shoots & increase pricing. But you are just one man in an oversaturated market. Is it even possible to outsource? Genuine question.
@@isaiahrodriguez9613 I have a team of contractors who I train
@@ApiHemi Epic, keep at it!! Rooting for you 🙌🏽
I am a shop owner from India.. We have stationery businesses. We are selling about 100 items totally like pens, notebook, diary, etc. I was thinking to add more items but after watching this video I am going to reduce the number of items and add more varities in the items. I learnt that success is not about going broad, Its going deep!!
Nice brother. I share the same, focus on your thing, go deep. 💪💪💪
The more Alex Hormozi you watch, his advice gets even clearer and clearer. I like that Alex is finding even better and better ways to share with us the things he's been sharing for 1-2+ years. Keep tuning my friend, keep at it!
@@derekjp6043 🤗
Love thatq
@@alan.ferreira thank you
Since Alex pumped out so much value, hopefully this is helpful!
0:38 Matrix Distraction Analogy
1:00 Learn how to Say "No"
1:35 Example of Friend with hundreds of businesses
2:00 Why to put focus in a SINGLE business
2:30 Why are the details important?
2:50 Why to Stop building More Businesses
3:20 Business As a Bucket Analogy
7:20 Basic is BETTER!
9:12 Advice from CEO's
10:49 Stop Doing EVERYTHING!
12:00 Consistantly Creates Strong Businesses
Thank you Alex for your value, can't wait to get to 3M+ so that we can partner if the value aligns.
Please do this every video.
I’m here an hour after post and you’ve already got time stamps, my man!
Let's be honest, this video had no meaning. He was all over the place with useless advice.
It's like go and apply anything and it will work.
Here for your hustle, man. Let's go.
@@satyam168 🤦♂
Man, Alex is just too good at practical business education. Nobody in the industry is better. Pure value.
There is difference between something being complex and something being hard.
A singer making a whole crowd jump in a concert is not complex to conceptualize, but is HARD to do.
I have the same feeling from what you are saying, building a business isn’t complex because you already KNOW what to do. It is maybe hard because you haven’t done it or haven’t done it well enough.
Big value gainz as always Mozi ♥️
Following your dreams will always be your saving grace during the business hustle.
Can we agree that this is the business video of the month. This needs to be re-watched Maybe 100 times (minimum)
Should I watch this video a hundred times? Or watch a hundred different videos one time? :)
@@VestigialHead Honestly, you're likely to get more out of watching this a hundred times, than watching a hundred videos...
I can't count how many times I've watched it already, and while I've forgotten a ton of the content in a hundred videos I've watched... The lessons from this video is tattooed in my mind!
@@confidenceopeters You missed the joke completely.
@@VestigialHead Oh, my bad 😂
My mind processed it literally, since I've watched it a number of times I can't even count
@@VestigialHead Oh, my bad 😂
My mind processed it literally, since I've watched it a number of times I can't even count
I know you probably won't see this. But I just wanted to reach out and let you know that your content has changed my mindset, which has changed my business, which has changed my life. I am forever grateful for your time you've put into helping people.
Really needed to hear this. Been niching down on a market and a single service. Spent years focusing on fixing all the holes in the bucket (lot more work to do), but the opportunities have been coming thick and fast and it's been really tough saying no to them, cus I wanna keep the main thing the main thing, but the shiny objects are so tempting. I've stayed the course this far, I'm gonna stay it THAT far too.
Spitting ALL THE FACTS! 👏🏽👏🏽👏🏽 thank you Alex! You helped my husband & I break our beliefs… get focused… & grow our gym. We are forever grateful!
I'm glad you're starting to blow up. Your knowledge and communication of thus knowledge is impeccable. I hope one day I make enough money to be able to be in your company haha
People prefer to spend money on liabilities,Rather than investing in assets and be very profitable.
I'm just shocked you mentioned Expert Maureen K. Carr thought am the only one trading with her.
I invested in both stock and Cry ptő but I'm doing much better on Cry ptő with the favourable market price
How do I contact her directly?? I would love to make some trade with her???
Alex is always on point with his opinions. We must do everything possible to break the poverty cycle because life has much more meaning than just working for someone else!
Yes, he explains that in his book. Very insightful.
Valuable advice... Shame most don't think like this. Specially in my country, Japan.
They want us poor and in debt. That's the only use they have for us
The question is, how do we do it? hahahaha one can dream
You have great thumbnails, ngl
its such a blessing and a curse to be a 19 year old entrepreneur at this point in life. such a blessing because we have such easily accessed wisdom like these videos. i dont know if alex really knows how much value hes providing to us youngsters.. even tho he reads the comments. its just such a blessing to have you around, sharing yourt advice and wisdom. youve paved a major path for young people. and you just keep doing it every day, better and better. i truly truly belive i will be succesful one day. aslong as i stay focused and determined on achieving my long term goals. i have to Want it bad enough. and i can feel myself getting closer to that point, even at such a young age. im a broken record here, but i really just hope alex knows how much we all apreciate him.
Age is of no concern. I am 52 and still, he is providing me with a lot of value. The world is a big place, you can not learn everything in one lifetime. In a sense, you should thank those who got the Internet to the public and the guys at Google for providing RUclips. In my youth, there was no way to get information from a guy like Alex without stalking him and hoping he would like you enough to waste his time on you.
The first step is to capitalize words in your sentences ;) I’m just giving you a hard time. Good luck!
@@edwin.jansen i deeply deeply understand and value the struggles your generation had while growing up amd becoming a successful person. In this day in age, we have so many opportunities that are unlike any we have ever seen before. Alot of it has to do with how accessible these successful peoples advice is. The sad part is that we get so used to the luxuries we have now, and dont take the time wo wake up to the FACT that its easier than its ever been to make money.
@@edwin.jansen Really the only reason I mention how he provides extreme value to young people, is because a lot of older folks don’t think open mindedly enough to realize that there are actually some bright individuals that are able to take such detailed advice so well. It’s just me pointing out the fact that, while us young people can be stubborn, we can actually find value in what Alex is teaching. So i could only imagine how valuable it is to someone whos a little bit older
@@Mactakun haha my phones keyboard has auto everything turned off. Ill do the bare minimum punctuation, but thats all youtibe comments get outta me😂
I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k..
I can't believe this only has 7k views! I'm just starting an online store, with the objective to turn it into a brand and do my own shipping, I've done lots of research before spending any money and from what I understand is the way to build something big is not revolutionary but rather consistently outperforming the competition. And he confirmed everything I thought, and not all that's left to do is the boring work "the stuff I know I should be doing but aren't"
7k views in 2 hours is hard to believe?
@@coyotemoon722 lol I thought I'd seen this video floating around before, didn't notice it was only posted a few hours ago🤦🏻♂️
It's not 8 businesses on average that fail to find the one that works but 8 businesses that fail before you learn to fill all the holes in your bucket.
Amazing video!
My mind keeps fighting the concept because I want to do all of these things, but deep down I know what you're saying is right. Thanks.
The amazing thing about this advice is it also applies to someone who doesn't have a Business and is trying to organize their life 💪
If there was one video that you needed to get you to the next level, this is it.
I'm convinced Alex really loves dry cleaning service as he used it as an example every freaking time.
Haha, it’s not he likes it, dry cleaners just make big money. it’s not pretty, But it’s consistent enterprise!
A big thank you to you Alex for all your free value and advice!
love this
2:02, 2:58
Fundamentals fundamentals fundamentals
0:28
Focus
0:00 the basics aren’t common, the average don’t do the basics/fundamentals. So doing the basics/fundamentals actually puts you above average (in results and identity: repeated actions)
7:30 wow, that’s me. need to execute my strategy instead of over planning it
I agree to a point.
Prior to covid we focused only on acupuncture. However finding qualified professionals within our budget was impossible. We closed down due to Covid.
I found that adding services that people want to get vs feel they need creates more reliable income. My issue is it always comes down to lack of revenue from the core business to hire qualified staff since I am the only provider and the business owner. It is exhausting. Your advice works for many business models but not all business models unless they have capital and not just sweat equity.
Very good Alex. I think the hardest part for most people is finding something that works well to focus on. Thanks so much!
You're literally building a better me with every video you drop. Grateful!
It seems that a large part of being successful is eliminating distractions and doing the basic boring things consistently.
*Fear, The Greatest Hinderance To Success*
Fear is the primary reason people fail, or even don’t start something in the first place. But living your life in fear will only cause disappointment in the long run. After all, “we miss 100% of the shots we don’t take,” so don’t let fear stop you from taking your shot.
I LOVE YOU
I love you too
Alex is a genius. He is one of the few business philosophers I actually understand... if I listen to the video at least 6 times ;-)
Thx 🙏. Sometimes starting a new thing is a result of fear of not really believing in it & using it as a backup plan. I’m going to drop the distractions & focus on one thing.
1. Better. 2. More. 3. New. Exactly in that order. Love it.
I haven’t started any business yet, but this right here is me knowing I’m making the right moves for my future
Real question is how Alex's long island accent is so on point 🤔
I was a server for 30 years in a variety of different places, one thing that remained consistent, rich people are the WORST tippers. I raised 3 kids by serving tables and bartending. When I say they are the WORST tippers ,I mean to an embarrassing level. Keep your precious money, it defines who you are. Not me.
"They" don't keep you poor. There is no reality outside of you. You're creating everything you experience. Poverty is a belief, a vibration.
Mozi's timing is impeccable, this guy will be a billionaire 4 sure. Just a heads up for Forbes and my other mentors Grant, Gary Vee, Etc!!!!
Got a question: All this makes perfect sense but does it only apply to entrepreneurs? I’m a guy who works a job, 4 years into it. I’ve received several promotions and things are looking up for me at my company. I want to adopt this mentality: Focus on one things and do it well. I also desire long term sustained financial growth. The issue is financial growth within a company has a ceiling. I do like what in do though and I do it well. Should I adopt this mindset and allow my wealth to hit that ceiling? Or begin looking into how I can take this mindset and my work skills and start my own business to avoid a wealth ceiling? Thoughts would be appreciated.
11:26 This part really hit home. I remember having a conversation with myself about a business idea (growing a personal brand that revolves around teaching English), and the thought of doing it non-stop for even a year just terrified me. I have all the qualifications, experience, and more to grow it to 6 or 7 figures, but I enjoy wearing multiple hats and doing so many different things, exploring new ideas, and breaking that monotonous lifestyle. I'll either face my reality or try to find a better alternative.
Yeah, my main business is in online teaching although my main pursuit in life is in creative writing. If I just did teaching and nothing else, frankly I'd be depressed. To some extent it's a means to an end so that I can do my other pursuits.
@@joblakelisbon you could do something around what you love. For example teaching writing online. That way you get to write what you love writing about and since you love to, you'd have a lot more knowledge about it and invariably enjoy sharing with others(teaching).
@@joblakelisbon Alex would say you should be building your business around your "other pursuits" if writing is just an mean to that end.
I love how abruptly the vid ends! Thanks for the no fluff (pure value) content as usual 🙏🏼
You're not vertically integrated, you're just distracted. So good!
The perfect example of what I'm talking about, is he gave an example of dry cleaning which is a dying business, I have had a friend who's in the industry for 30 years It's not making any money anymore he does everything perfectly, sometimes you do need to start new buckets in order to get away from industries that are dying. Yeah, obviously if you find a business that's making a ton of money it makes more sense to just focus in on that one business no brainer, the rest of us are looking for a model that actually works. And we have to experiment.
I can't thank Alex enough for sharing his knowledge! I have learnt so much from this man...
Thanks a ton! 🙏
This is oddly EXACTLY what I need to hear. I have been having issues focusing on my Instagram, carpentry, personal vlogs, ticktock, Facebook, craft fairs, going to collage, taking online courses. But I already know what I need to do it's just not as stimulating as doing new things.
dude the video editors are on fire
I've never had a video speak so directly to me, even using a metaphor from my favorite movie! Time to make some major changes
I think the one thing that helps businesses grow and scale are written systems and processes. It relieves the need to be present constantly.
Thank you Alex. So of course, I'm one of those people who gets distracted easily and run few projects. Since I've started watching Alex, this question keeps circling in my head:
"That's all true, BUT what if I chose to do all these things in a wrong business? He also mentions examples where the river you swim in needs to be big enough."
But I guess the answer is: focus on one thing for certain amount of time (I'm not sure how long it should be) and check if the market is growing. The question is - Is the market to small or is it me not doing all the necessary things?
Would appreciate any help on this.
I realized that this also applies to life. Instead of trying new ideas on how to improve my life, just ensuring that I have the basics covered will exponentially improve my life.
love the new editor you brought on, he's giving me much more of your information in a lot smaller amount of time
Recently I’ve preached this to people. Even a simple car detailing job can make you 6 figures.
exactly what my wife needs to hear :)) and i need to hear this periodicaly to stay focused on my one business.
11:42 best quote
All these gurus and Alex still puts out better advice without having to be specific to any niche.
This guy is on point, really makes me look at the things I know I’m doing wrong but really makes me look at them while still leaving hope
The women in the red dress tells us...
Doing more of something all-ways increases the risk with each addition, especially if those additions have flaws... Doing something Better has the lowest risk with the best reward system, the entire premise is focused on improvement...
but, no matter what we have or have not done, Execution bears the greatest risk...
don't be cute, believe in the mission, consciousness is a business, mind the ferrets, it's simple back yard football and all we need is consistent yardage...
Figure out where your heart is...
And get started.
Very wise guy, thanks a lot, Alex!!!
I just want to take this chance to say how amazing your videos are and especially this one. Really mind blowing and basic but josh it’s so much value. My friend and I have a podcast we recently started and this advice will definitely help us so much in the future especially with managing social media and stuff. We are a self improvement podcast and we are trying to create a community and help people reach their full potential while they help us do the same. We learn and grow together with the audience. So thank you for this stuff and keep it up bro.
4:49, Alex claims that it's old reinforcement that's making it hard to learn this simple lesson. To grow your business, need to do more of what you're already doing, or do it better. You should NOT be doing new things.
And it relates to his Neil Strauss quote from earlier in the video. You can't keep your cup full. You have to be able to learn new things. You have to be able to change your ideas about what you previously learned.
And that's one of the hardest (meta) lessons to learn because you already have evidence in favour of it.
7:02, the thing that makes it hard is the discipline you have to have to execute. Strategy is easy. Execution is hard.
What if we desire to serve different markets? Maybe numbers aren’t what everyone is after.
This is the shit the keeps me putting my head down and leading with my heart. LET"S GO!
I totally feel ya Mary! 😁💫 it’s all about staying focused consistently on your purposeful mission without all the ‘shiny’ distractions 🧠🙌🏽
Hey Alex. You are the man. Im not even close to where I want to be but I know that I will get there because I am completely convinced that your videos have opened my eyes to the “don’t be cute” mentality you display. It’s awesome. I am going to be a successful real estate agent. Thank you.
Really helpful video! Alex has many parallels to stoicism and logotherapy; a lot of his advice encourages you to listen to the voice of our conscious. This idea of the "logos" that is a sort of "hint from the heavens" on the right thing to do I think is showed very well in his ideas, not to mention the transitions and edits on the videos are top notch!
this isn't just applicable to business but making progress in life and personal goals
Amazing video and thank you for breaking it down!!
She’s active with this ＋𝟏𝟐𝟎𝟗𝟖𝟖𝟏𝟕𝟏𝟕𝟖 currently
Good sir. Would you consider me distracted or not?
I started learning programming on my free time to better work on software that I find easier over time to troubleshoot and work with in general(windows and debian linux operating systems mainly). Since my job is a tech in the Navy that means I also work on hardware maintenance. So I enjoy troubleshooting hardware as well as software.
I decided to spend most of my free time last year learning the basics of python programming. A couple days ago I finally find myself enrolled to a course called "2M Miniature/Micro Miniature repair", where I'll be working on the components of a circuit board amoungst other things involving soldering. I've always desired this skill.
I plan to pass this course and obtain the certification so I can bring all my tech skills together and build around the programs I have in mind.
I'm curious, id just like to know your opinion. Would you consider my approach a distracted one?
I wonder how this relates to people with creative vocations. I literally can't focus full-time on my creative vocation as a fiction writer because if I did, I would be homeless lol.
I have a main business which is in online academic teaching. I put a lot into it and do quite well, but if I didn't have writing, I would feel that my life was wasted. Sometimes as an artist you can't just focus on one thing - you must have two.
How is this free?!! Many thanks....
Mark Zuckerberg had a side hustle; it was called Harvard and he dropped it real quick lmao
My biggest issue is figuring out which business to put singular focus into. I don't have enough startup capital to try something long enough to see if it will work
A new hoodie design won’t sell if the shipping delivery still takes a month. Fix the shipping then add new designs.
I need to focus on one of my businesses, too
Great on point video. Was getting sidetracked for a while but this reaffirmed my base business goal
The counter to this, is that sometimes people start a business that is not actually that good, or it's in a bad market, or the model is not that good, and by trying different businesses and trying different things you eventually stumble upon the model that is right. And if someone were to lock into this logic they would never try that. So I don't think that the advice that he's giving is 100% true because it could lock you in into a path that's not actually good.
Summary: Being a Specialist (not a Generalist) is Key!
Well put… Discipline in truly understanding the depth of a value is not practiced by all
Simply do this; disregard the market opinions and projections. I'd suggest buying shares of reputable firms and holding them for long that's exactly why investing in stock now will be the best a favorable decision
This was a great video to watch. There is value in keeping the main thing, the main thing. "Welcome to building a big business" is correct. This video puts things into perspective how even people having multiple "successful businesses" by their standards wether it is making millions/year or 10ks or 100ks per month they could be even better if they only focus on one to reach billions.
I agree, Alex always provides so much value in these videos and this one is so important to remember all we can truly stay focused on our true purpose and passion right now 💫🧠💡
Key takeaways
Focusing on the basics and executing them well can lead to business growth over time
Singular focus is crucial to avoid distractions
Opportunities can be like the woman in the red dress, tempting but potentially harmful distractions
Better to fix the holes in the bucket (business) before adding more water (traffic)
Doing the obvious thing for an uncommonly long period of time can lead to success
OMG!! How have I missed your channel for so long??!! Great content!
I hate this video (in a good way) because of how true it is for my situation. I’m doing all these side projects and hoping one of them hits but in reality any of them can be successful if I just focused on it completely. This video rly spoke to me and I’m going to be a lot more selective in how I allocate my business hours.
This can be taken a step further by focusing on particular parts of the business i.e. Window Glazing companies that do window and door installations can also just focus on glazing the glass rather than also cutting glass/installing window units/handles/repairs/board ups etc
So true, I started a real estate flipping company at 26 with 10k. By the time I was 33 (doing nothing) else it was worth 15 million.
So it's simple.
Just shut down 20-30 of your businesses and focus on building the best one. You will quickly go from 8 figures to 9 or 10 figures.
Great videos but could do without the music. It's distracting
Even if you have zero desire to do something, the need to do so should always be your direction.
Another valuable video! Stay focused!! Thanks Alex. 😄
Great video. 👍🏽 it's like one of those videos that you didn't know you need to watch until you've watched it
Spitting facts🌶 can’t believe how much value you put into these videos 😮 love your vibe. Your editor is sooooooo 👍
This might be the biggest click bait title you've done so far. Has absolutely 0 to do with the video.
Ever hear of a metaphor?
thankyou verymuch alex, ur videos are really helpful
Alex your videos get better and better! Thanks for all the knowledge
“Mark Zuckerberg didn’t have side hustles”
*Elon Musk enters the chat*
Money from Obama
A wealth of knowledge leads to a poverty of attention. Deep work is essential for your prime 3 - 4 hours at the start of your day
Great video! I've been in business 6 yrs now and for me this has been true. When I stick to what made me then we continue to grow and get so much positive feedback.
this is something I never thought. but yeah I really focused in one project
Bro I just made it to the 5 minute mark and my GOODNESS you've been COOOOOOKING with good content so far man! I had to take a moment and recollect haha. Dude is laying the business out AS SIMPLE AS HUMANLY POSSIBLE while keeping it interesting. You couldn't ASK for a better opening to learn these things, omg.
Dr. Phil of business! Thanks for reminding us of the very basics so effectively :)
I wonder if this will apply for a self employed person providing services not products! I do translation and interpretation but also trying to do personal brand coaching. Other times I just keep looking for new freelance to make my monthly expenses so Alex made wondering if I should just stop and focus on one service?!
Real teacher..
Thank you Mr Hormozi for everything