Alex Hormozi is an entrepreneur, investor, and author of 3 bestselling books $100M Offers, Leads, and Money Models. He’s founded and exited 3 companies, the largest for $46.2M in 2021. He and his wife Leila are the managing partners of Acquisition.com – a portfolio of companies that generate in aggregate $200M per year. He also makes mistakes and candidly shares his painful lessons with other entrepreneurs. Today he publicly documents his lessons on his path from $100M net worth to $1B.
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- Confidence: “You don’t become confident by shouting affirmations in the mirror, but by having a stack of undeniable proof that you are who you say you are. Outwork your self-doubt.”
- “If you are confident without data, then you are delusional.”
- Work: “The work works on you more than you work on it.”
- “If you want your kids to be good people, then set up the conditions so that they become that. And that doesn’t come from easy times.”
- For anyone debating whether to marry a partner. These 2 lenses were useful:
- How have my stats changed since they entered my life? (wealth, health, time)
- Would I go to war with them?
- They flow from what Alex wants:
- Hard goals
- They flow from what Alex wants:
- Document your life more. Otherwise, you’ll forget the details. And the details are what make it worth remembering. (homework for life)
- Alex shared a vulnerable story about not wanting to live anymore when he was 21. He had graduated from Vanderbilt in 3 years (manga cum laude), had a great consulting job, and was on his way up the corporate ladder. And he hated it. He was living his dad’s dream, not his own. So he quit. And didn’t call his dad until he was well on his way to California to start over.
- “A leading indicator that someone is not an independent thinker is that they agree (or disagree) with every single point of a political party. Also applies to seeing no fault (or 100% fault) in particular leaders.”
- “Volume negates luck”
- What makes a great sales professional:
- Clear communication
- Be honest… And have the desire to help your customers. “The more honest you are, the more you end up selling.”
- Life Lessons Alex wishes he had learned earlier:
- Talk less, listen more… (He messed this up earlier in his career by talking too much)
- The hardest respect to earn is one’s own
- If you want to control what people think, control what they say – “Equip people with simple language so that they can communicate what you do.”
- “You get more out of reading 1 book that’s great 5 times, than out of reading 5 mediocre books.” – “If your behavior doesn’t change as a result of reading the book, then it means you’ve learned nothing.”
- You are going to die – 2 weeks after you die, most people will have forgotten about you.
- Extraordinary accomplishments come from doing ordinary things for extraordinary periods of time.
- If it’s worth doing, it’s worth doing well
- Be willing to negotiate everything except for your values
- Humility – Sacrifice for the group. Give more to the company. Give to the group.
- Hormozi Law:
- The longer you delay the ask, the bigger the ask you can make. The longer the runway, the bigger the plane that can take off.
- “At your funeral, friends and family will argue over who gets what. People will want food to eat. The topic will shift from your life to their lives. They’ll drive away thinking about their looming to-do list. Some people won’t be able to make it because “something came up.” A reminder of the heavy weight we place on things that matter little.”
- “There’s no greater waste of time than justifying your actions to people who have a life you don’t want.”
- “The easiest way to change behavior is to change your environment.”
- Alex’s great-great-grandfather had 400 children.
- “Never skip dessert.”
- “My life has never gotten worse by removing mediocre people.”
- Apply to be part of my Leadership Circle
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- Read: WELCOME TO MANAGEMENT
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03:53 – Building Confidence
12:20 – “Chunk Down” to Gain Confidence
16:34 – Playing the Long Game
21:36 – The Power of Consistency
30:41 – Think of Yourself as an 85 Year Old
45:22 – How to View Your Partner
51:12 – Commonalities of Sustaining Excellence
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