Brutally Honest Advice for Broke People
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 Vanderbitl 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 $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.
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Thank you for the video. I'm so sick of being broke that I want to scream. And it's because of my bad decisions so I can't blame anyone else either. It's most definitely my fault.
Jim Rohn used to say that success comes when you work harder on yourself than you do on your day job. And he wasn’t exaggerating.
If you're willing to spend 8 hours per day working on someone else's dream-you can afford to spend 1 working on your own.
"Where you cast blame to, is where you also cast power to."
Thanks for not cutting out that part
Crazy, I'm a lisenced residential builder/general contractor and certified personal trainer. I get up at 430 am every day and do cardio then eat then lift then work till 6. I'm in amazing shape for 33 years old all and I have 200$ to my name and 20,000 in debt. Can't seem to move forward no matter how hard I work. I blame myself for not having the consciousness when I was in my 20's to know how to take the next step. Thanks for the words brother
Just lost a 5 year relationship after helping build her business for the past 2 years. She left out of nowhere and took all the money under her name. Hearing this now that I have to restart hits in such a different way. When your mind clicks on things I couldn't word myself, understanding that he felt the same way definitely is a big help. Appreciate you Alex for sharing! ❤
Alex's multimedia team: These raw videos are amazing. There is no need to edit them, having flashy titles and animations that take days or weeks to implement. You have the fortune of having a person that has so much value to give, that I believe people will watch it no matter what. Having a raw video is my preferred format from Alex, because he looks more transparent and real than ever, I can deeply connect with his life story and his teachings. You're doing a great job. Keep it up.
"Brutally Honest" is why Hormozi's content is in a league of its own. Thank you Alex for something real.
“Increase your own approval of yourself”. Love it!!
“People want to master complex moneymaking skills, but they haven’t even learned how to show up on time”
I was being suicidal for the past few weeks, because I've tried and been trying since I was 17 yo now I'm 24 and still broke. Im still coping with it.
How you have not been on Rogan yet is completely beyond me.
I don't think I've EVER CRIED over a youtube video of this genre... You REALLY STRUCK A CHORD within me 🙏🏼 A lot of what you said was a much needed "slap" 😢 THANK YOU, ALEX ❤
So true about the first $100,000 being the hardest.
Honestly the father figure everyone needed as a child.
Tons of respect for this video, we need more creators being authentic on camera. I used to be so broke that even homeless people would feel bad for me, so I can really feel the emotions behind talking about it. I fought and clawed myself to a point where I get $1,000,000 funding for my business ideas, but the topic of being broke still gets to me. You never want to go back.
Thank you so much for this video, Alex. I’m tired of hearing how I should be able to ‘accomplish this in 1 month’ because somebody got lucky and did it. It’s encouraging to hear the struggle that preceded your success. Every day I put my nose down to work on my side hustles, then I go to work, I make food, sleep, repeat. I feel like I’m going nowhere and I’m sacrificing all the things people my age are ‘supposed to be’ doing so I have a hope for my family not being broke forever. I appreciate your realness.
I'm from Baltimore too, I didn't even know that about you. I feel more connected immediately! I hear you about the Ravens and Orioles. Dude I'm crying over here!! 😭 ❤❤❤ Thank you for your honesty!
"I can be right or I can be rich". Greatest line of the decade if not more. Thank you Alex for everything dude.