"I'm Broke... What Should I Do?"
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.
Пікірлер: 1 400
If you have ZERO dollars in your bank. This ain’t the video for you.
@blalockgnosis
Ай бұрын
😂😂😂😂
"I'm broke" - "LETS SAY YOU HAVE 50K $" 🤣🤣🤣
@LingYao9001
Жыл бұрын
This is exactly what I thought. Glad it wasn't just me.
@Alfredito999
Жыл бұрын
If you can’t find a way to make 50k what makes you think you can make a million
@antiegramua2042
Жыл бұрын
Exactly 😂😂
@christophercanada321
Жыл бұрын
levels to this broke shit lmao
@LingYao9001
Жыл бұрын
@@Alfredito999 What an ignorant outlook. People start from different places. I never said "trying to make money for 10 years and never got to 50k".
Biggest paradigm shift needed is *you don’t need money to make money, you need creativity and financial literacy to make money*
@mdkn9153
Жыл бұрын
i should read this comment everyday tbh
@RainyYears
Жыл бұрын
you don't need money to start a business you need money to compound money though.
@Robliss
Жыл бұрын
False. In this scenario you need $50,000. To be liable for $625,000. And you need the company not to flop. Sound like rolling dice even if you're 'financially literate'?
@avamasquerade
Жыл бұрын
@@mdkn9153 sure, everybody knows magical thinking is the only *real* way to "manifest" wealth...
@ADAMSHOMESOLUTIONS
Жыл бұрын
You need money but no one said it has to be your money.
I'm broke... What should I do. "Let's say you have $50,000..." Lol great video
@Mykev777
2 жыл бұрын
It’s because He’s never been broke broke
@etofok
Жыл бұрын
epic lmao
@CelebritiesorCookies
Жыл бұрын
Exactly no sense video
@alexking2476
Жыл бұрын
Can't lie. That was my thought as well. Never helped that dude, but still a very good video for people not broke broke Hehehe 😆
@XTen1000DaysX
Жыл бұрын
@@Mykev777 he had 1100 though he said at one point. Idk if true or not
Wth? 50,000 dollars is not broke! When we say broke we mean 0.00 dollars
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
@gabrielsmith9781
Жыл бұрын
@Scott Nicole O ' Yes I'm a living testimony of her good work expert Benson Sandra
@gabrielsmith9781
Жыл бұрын
Mrs Benson Sandra has changed my financial
@gabrielsmith9781
Жыл бұрын
status for the best ,all thanks to my aunt
@gabrielsmith9781
Жыл бұрын
Who introduced her to me.
@hassangary8961
Жыл бұрын
@@gabrielsmith9781 I invested $ 10,100 with her and she made profit of $ 66,000 for me just in 5days .
For those that haven't noticed, if you want more info, observe his bookshelf. He is showing a great reading list.
@Javier300k
Жыл бұрын
Success leaves clues your comments is underrated
@dantheman52420
Жыл бұрын
You know what he values more than his Lamborghini? Knawledge!
@michaelprovenzano8911
Жыл бұрын
I was scoping those out too!
the hardest part about this, in my opinion, is to find the right team to help you with this. As brand new to the business.
@chazaqs9109
Жыл бұрын
100% agreed. My biggest problem right now as an owner of two businesses.
@AKBFORU
Жыл бұрын
@@chazaqs9109 Hey, what business are you doing I may help your
@DelondoWright-ek3xp
8 ай бұрын
How this work is it good you can make money
@lailikrumm
3 ай бұрын
There are other people looking for better opportunities. Some want to grow. Some want to learn. Some want challenge. Find those people. If you can offer them tasks, or a job - then that's win-win.
"to the unconditioned everything looks like a spending opportunity!" How many knowledge bombs does this man drop? Subbed
@ronallan8680
Жыл бұрын
it's crazy! Feel like this guy escaped the matrix and he's just cruising by, chill, seeing the source code for what it is.
@judahhudson2200
Жыл бұрын
"But we are initiated. Aren't we?"
@saifalbarwani9800
Жыл бұрын
@@judahhudson2200 Bruce Wayne
After selling a couple homes in 2022, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
@ghanighani6926
Жыл бұрын
I require suggestions on how to restore my portfolio and create more effective strategies in light of the huge declines. Where can I locate this instructor?
@tahirisaid2693
Жыл бұрын
Heard many good recommendations about ROCHELLE DUNGCA-SCHREIBER by some YT channels, Seminars and other platforms...
@shanescull9552
Жыл бұрын
Supply demand if more people think a stock going to move people buy into the hype which causes a rocket and then when the first people that was in it start selling people that just bought take small gains or panic sell causing it to drop significantly until it settles down then you watch for the next pump or dump. Option trading can make you rich or go broke fast unless you know how not to be greedy. You can make money left right up down if you make the right plays. Plenty opportunities get your feet wet and see how it goes. Best advice would be to make a strategy and stick to it once you don’t may lose it all
Just want to say I flipping love your videos and your channel. Never seen so much pure truth being given. I have listened to, and followed, so-called gurus and motivational speaker types and never heard such pure truth. It's normally "buy my business coaching program and if you fail it's your fault. If you succeed it's because I'm such a great coach". Want to really say thank you for being a light of truth in an ocean of con artists and "coaches". You ROCK man!
Awesome video! I’m addicted to finding deals, both in real estate and businesses. You’re a saint for making great content like this, Alex! Keep serving the world brother!
@fadezynx7587
11 ай бұрын
Great video but completely miss guided by the title😂
@srijanraghavula
11 ай бұрын
Are you a realtor?
@Holiday.Info.Finder
10 ай бұрын
@@fadezynx7587 couldn't agree more
In his head, he assumes everyone has 50k lying around as pocket change 😂
Video title, " what to do if your broke" Alex; "let's say you have 50k" 🤦🏽♂️🤦🏽♂️🤦🏽♂️😔
@usmanisyaku495
2 жыл бұрын
Getting a skill is the first thing he mentioned before the 50k savings.
@italianmiltyfriedman6264
2 жыл бұрын
seriously
@kennethmayor3596
2 жыл бұрын
Really seriously??? We are waiting for a response
@momentumcharting6700
2 жыл бұрын
Did you even LISTEN to the entire video?? Sheesh...
@rickcarl7558
2 жыл бұрын
$50k is broke
We went from broke with $0 to having 50k instantly and buying a $700k business... 🤨
Check with your SBA lender if they will do this. The SBA lenders I've spoken with require the seller financing payments to be deferred until the SBA loan is fully paid off. Which means the seller doesn't get a dime until the bank gets all of its money back. This makes SBA financing and seller financing incompatible from a practical standpoint if your SBA lender insists on getting paid back first.
@JoshuaKim1997
3 жыл бұрын
This isnt true. That's only true if you want to count the seller note towards the equity, which they'll cap at 5% of the deal. If you have 10% down, you can set it up however you want.
@dfhutton
Жыл бұрын
@@JoshuaKim1997 Hey, did Alex Hormozi do the QLA course? It sure seems like he did!
@JoshuaKim1997
Жыл бұрын
@@dfhutton …no. Acquisitions aren’t entirely proprietarily unique to Dans world, may come as a shock to some… 🤦🏻♂️
@dfhutton
Жыл бұрын
@@JoshuaKim1997 Ok, thanks for the reply - was just curious. I know Alex is very into operating and scaling the individual companies he invests in VS scaling via roll up.
@harpercurtis4583
Жыл бұрын
first im going to assume you are cash flowing more then enough to pay off the sba loan so then you could also just pay back the previous owner with some of the left over money and keep the rest until everything is payed off
Geez I wish was watching your videos a few years back! Before I got myself into trouble by buying a shit business which sent me bankrupt, but on the upside, that experience woke me the fk up and boy did I learn some serious lessons and then it kinda forced me to learn more about entrepreneurship, business and wealth creation and most importantly mindset! I still have a way to go on my journey and thanks to people like you Alex for helping me on my way! I mean really, THANK YOU!!!
A 250k year profit business for 625k extremely unlikely. On top of that the chance of seller finance on that would be unlikely af. Needle in a haystack.
@letelba1
2 жыл бұрын
Probably was 250k revenue
@jahnotdead
Жыл бұрын
Totally doable. I’ve seen better deals done.
@boosthit811
Жыл бұрын
@@jahnotdead really?
@jarotheenjoyer
Жыл бұрын
I'm broke what should I do?: 1. ??? 2. Acquire 50k in cash 3. Take out a loan from the bank. The bank gives you a loan because why not give 200k to some broke-ass mf. 4. Buy some risky local business that someone is selling for some reason. They sell you a business worth 625k for 250k coz you're a god-lvl negotiator. "Well my man, I will pay it later from the revenue." (sure) 5. Be a billionaire
Why would somebody sell a business that does $250k/yr in profit and all they put in their pocket is $250k the first year, and less and less after that?
@jimshenton
Жыл бұрын
They wouldn't
Just watched a couple videos man I am thoroughly impressed. Please keep these video coming.
This may be most underrated channel on KZread Thanks for scratching your itch in an impactful way - hoping you stay the path!!
Alex, I've seen a lot of your videos, but this one has left the biggest impression on me. Thank you very much!
@momentumcharting6700
2 жыл бұрын
Agreed. Very practical advice.
Love it, keep talking sense. You're throwing out some good insights.
The next time one of those guys making millions per year says he's sick of the business, send them my way 😏
Thank you for this. Really opened my eyes to new possibilities.
I really enjoy this guy. Seems like a genuine dude too. Thanks a lot for your content
From watching this video what I’ve learnt is that discipline and consistency is the key. And I say this with the greatest respect but the difference in this video and and his videos today are staggering. Is somebody said they could make you 10x better within 2 years you would rip their hand off for the offer. We are so good at looking back but terrible at looking forward. 24 months, 730 days and you could go from being OK to being great. Be interesting to know what his subscriber numbers were when this video came out. Well done pal just the progress in the content is inspirational.
Alex thank you for sharing this knowledge with us man. I hope you know we appreciate it
this channel is one of the most legit sources of quality info and thought provoking ideas - 💪
Been binge-watching your videos dude. What an underrated channel. Ty for sharing.
Most people venture into crypto to be a millionaire, meanwhile, I just want to be debt free
@lioneltheophilus2151
2 жыл бұрын
Just do the right thing, by trading with an expert, I trust me you will be a millionaire and debt free
@dannysamuel4056
2 жыл бұрын
You don't make money on forex or crypto by holding your coins rather you trade to make gain.
@lukeben1596
2 жыл бұрын
Assets that can make you wealthy Gold Crypto Stock Real estate
@patienceoluchi5134
2 жыл бұрын
Am looking for something to venture into on a short term basis, I have about 6k sitting in my savings, what do you think I should be buying?
@doragary3717
2 жыл бұрын
@@patienceoluchi5134 Then I will personally intro you to Anna Wilson of UCLA Anderson financial institution. Anna has always been the best in that institute, I have been working with her for months now, investing with her is awesome and of no regret.
Wow Again!! Thank you Sir. This info is priceless and very much appreciated 👍
@AlexHormosi please please do a step by step of this process and recources for the skills to learn! I just discovered you and you really seem authentic, cool, and knowledgeable. I am 40 and I believed all the bs my parents were taught by their parents and got stuck on all these limiting believs. But finally I realize even though I am completely broke and almost homeless, there is a way, there is still hope.
@MassageWithKlay
Жыл бұрын
First step is letting go of all the bs which your parents taught you. I'm in the same boat where there are a lot of limiting beliefs which have been instilled, which have hounded me for way too many years. Money was the thing which I've always been most naive on, in a split belief where I know it can be made with time, and then selling myself short by allowing other people to allocate that time for the amount of money which they are willing to give me. So at the moment, I'm going through and working out exactly where I wish to spend my time, my work has just changed the spectrum of how they do things, so I'm weighing up, do I go for it and spend my time getting that extra in overtime, or do I allocate that time to do other things like re-frame my mindset, work on business models and then reach out to investors ect. in order to build something which gives ends up giving me cream from the top and moving on, and moving on until I am building wealth from wealth. I think it's pretty clear the choice that I'm going to be making, now it's just a matter of putting it all into action.
Bro as soon as you said assume you have 50k, I knew this is not for broke broke people 😂 broke broke means got few bucks in account..like struggling to pay rent type broke
Amazing perspective and sound advice. Thank you for sharing and helping me shift my framework and paradigm.
Love your stuff dude 👏👍 it's one thing making money but another thing to keep it
I don't know you personally but I think you are a class act. I truly believe you have what you have because has rewarded you because you give so much and every time you give God gives you more.
This is a great video, really opened my mind up to another realm of thinking
Learning to trade, program/coding, analyze businesses. Thanks for this video 🙏
Great vid! Dicipline is definatly a big part of getting a good price on a business asset. Totally agree!
I never comment on videos like this, i'm a skeptic to the bone, but this man is spitting some amazing advice that is actually not trying to flip around and sell you something right off the bat. Appreciate you Alex
Pretty insane you give this information away for free lol. Super grateful man.
@armenalexanian
2 жыл бұрын
I have that same thought exactly.
@fadezynx7587
11 ай бұрын
He gave nothing useful to people who are actually broke😂
@livelovely4681
4 ай бұрын
@@fadezynx7587Agreed because people who are chronically broke typically can't find usefulness in anything.
Thank you Alex. ♌ are the best at business. I feel your power brother
Great story, Alex. Thanks for sharing!
I would love to know how to find these businesses more in depth, Great Video!
It's 11:30pm. I just found your channel 45 minutes ago. I may not sleep tonight in order to binge your content. You've got yourself another subscriber. Thanks for the wisdom.
@adabillions
2 жыл бұрын
Same here
@theculturewatch2414
2 жыл бұрын
Right there with you boss
Man I appreciate your channel, thank you
Recently found your content and it is gold! thank you
Cool tip! I didn't realize I could buy businesses with little money up front.
Genius. Patience and wisdom come before monetary gain
Hi Alex, God bless you, thank you for this channel.
How this guy doesn't have more subscribers is amazing. But thank God, because the competitive edge here is razor sharp. Thanks for sharing.
Wow. Your awesome. You have a new fan. This is the 4th video that I’ve watched from you in the past 2 days and all I can say is wow, and seriously, thank you for sharing this stuff. Keep it up.
Not exactly what I expected but this changed a lot. Definitely not going to buy simple real estate. Build my own business and use cashflow to acquire more businesses. Thanks Alex your content is grad A stuff.
What I don't understand: why should anyone sell his business that makes 250k every year for just 660k?
So, he started out talking about broke folks. Turned broke into $50,000 cash saved for an overpriced house. Then gave suggestions on what to do if you're NOT broke. That doesn't answer the question. At my current savings rate, I'll be 90 by the time I get to $50k which, w inflation, will be worth $500.
I have binge watched all your videos! Keep up the work!
@GaryBryanDobbsSales
2 жыл бұрын
Same here , I’m hooked! Been on 2 days now
@levelup2014
2 жыл бұрын
@@GaryBryanDobbsSales big facts thank you Yt algorithm do you guys know any other legit dudes like this guy?
@Jhameelb
2 жыл бұрын
Same
@GaryBryanDobbsSales
2 жыл бұрын
@@levelup2014 honestly I don't see anyone else with the trust factor I see with Alex. There are other business trainers I follow. But they aren't as high level as Alex or willing to share information like Alex without selling information through a program. So the others content are trying to sell courses. All that is old to me...
@maxswanson7330
2 жыл бұрын
I think im gonna have to XD
I got liquidated yesterday and I’m using it as fuel to follow these rules permanently. Great video
REALLY LIKE the pace of this video! Thanks for slowing it down a bit…😀
I remember being so broke with only $148 in my account on a apartment lease lost my job and a car that was starting to act up. I was on thin ice
@voodoocourses4427
2 жыл бұрын
148? That's 3 of my salaries.
@jeremiah8716
2 жыл бұрын
How did you get out of the hole ?
@globalmotivemusic5105
2 жыл бұрын
@@jeremiah8716 loan
@aseessarkaria5994
2 жыл бұрын
How did you get yourself out of the hole?
This was solid advice and humbly delivered. Thank you.
@builder481
Жыл бұрын
did you make any money?
@Levi-xo9un
Жыл бұрын
@@builder481 what is wrong with you?
Where do you find insane people that sells you a business that is making money? and cheap? ............................
I so resonate with him, his authenticity and humility....
Its great to see you have Pre-suasion book on your shelf, that and 48 Laws of Power are chunked full of good knowledge.
I will love to hear the bounce back story from the $1100 Bank account balance
@SergioB-MakingMillionaires
2 жыл бұрын
Me too
@donaldlyons17
2 жыл бұрын
He took risk and it paid off but problem is when you take risk if his trimming and location had been wrong he would have stayed broke. But I will always remember that when people like him this works for think of all the new gyms that opened a year or two just before COVID that will not reopen!!! For me I was able to pay a 35K loan on 20K incomes in just 5 years so I just go lucky that every risk I took worked but I just as easily could have stayed broke with nothing had it not worked out!!!! For many bouncing back is almost impossible without luck, handouts, etc. Your quote: (I will love to hear the bounce back story from the $1100 Bank account balance)
@sneakykicks7504
2 жыл бұрын
@@donaldlyons17 the harder you work, the luckier you get
@donaldlyons17
2 жыл бұрын
@@sneakykicks7504 No if one is already working one can take better advantage of luck. The odds increase but with enough luck hard work is not even necessary.
@yogamac
2 жыл бұрын
$200
This is a super insightful roadmap. I always (incorrectly) assumed that the only way to leverage your money was through mortgages and real estate loans. I would guess that the spread for LTV in real estate is narrower, but if you’re willing to put the time in to evaluate businesses, you could see comparable or even much higher CoC. Interesting. Thanks Alex!
The best information I ever got! Thank you🙏🏾
Wow, I have never thought of it this way!!! thank you
I had a mission foods route with nine grocery stores and I got so tired of it I sold it for less than half its value. Kinda funny you had mentioned business owners will sell for cheap
Sooo basically get 50k and buy a business... Ok
you're an inspiration. Thank you so much.
Very glad I found this channel
Can you do a series of listing the skills that an entrepreneur should work to grow in order? Your math understanding always raises my adrenaline. I need to grow.
@waddup177
Жыл бұрын
Tip number one you should never relying on people for "adrenaline" or any other reason as Elon once said
Hey, this was an incredible video that was eye opening. I was wondering how I could find motivated sellers who are tired of their business if they are not listed anywhere? Could you please explain how I go about finding those people?
@nicolausthothmes2325
Жыл бұрын
What are you selling?
@alexking2476
Жыл бұрын
Biz buy sell
@antonwestling3057
Жыл бұрын
contact people
@solargiousa
Жыл бұрын
Go knocking. Door to door to door to door to........
Another awesome video! I’m adding all these to my arsenal.
Would love to hear you do an episode about the highest value/ROI skills for entrepreneurs (or life in general) and the best systems to acquire said skills! Thanks
@OkiDoki181818
Жыл бұрын
He's saying it all over his channel and even has several videos about it: when you start out, your ability to sell, verbally and in (digital) print is going to save your life. Then, at any stage, you need a different skillset. In the end it's your mindset that makes the difference though. That is what he is teaching you here.
So making 60k a year is considered broke. I guess I’m BROKE broke
I love how "I'm broke... what should I do?" is the question and he's like "Let's say you've got $50K...". LoL
This was so amazing. Thanks so much
Hey man a buddy of mine recommended you and I watch a few videos and I was yet to be convinced this one blew my fucking mind and I’m officially convinced. I read rich dad poor dad and that shit blew my mind but this explained it so well
What a great idea! And this content is Priceless. Honestly, I appreciate it a lot 🙌 💪💪💪
This is like having a $10,000 value consultation -plusits by a really cool person -so the knowledge sinks in deeper -so im changing that to $100,000 :) thank you for this goodness!!
I 've just bumped into this.Amazing! Cool!Very helpful!!
I’m a new subscriber & I love your wisdom and knowledge what your sharing with love with us all ,
Man - When I am successful, it will be due in large part to your generosity and honesty in producing these videos. Thank you.
@BianicEpicVideos
2 жыл бұрын
Good luck bro 💯
@voodoocourses4427
2 жыл бұрын
You will never be successful
Such a great video, so much value! Thank you Alex.
Thanks for the info. this is similar to real estate with low money down and or seller financing. I have heard that commercials about buying businesses but not about them financing it. Thanks again!
I need you as a mentor, i feel like every decision i make is the wrong one. Great video by the way
Wish he would have elaborated more on where and how to look for businesses that are for sale
Investing in yourself, by developing skills - love this! Thanks for sharing Alex. I'm on that journey now, getting out of the law and looking to team up with the right person/people too. Need that right environment, for the flower to bloom, right? I appreciate you creating these vids. Have a great week!
Thank you. You are brilliant!
Thank you for making this
Awesome advice. Love your grounded energy too. Keep it up!
What the hell does this have to do with “being broke”? If I had $50k to spend, I wouldn’t have clicked on this. Lol
I'm not financially broke, but time broke. 9-5 takes up 65+hrs/week.
I appreciate this video so much!
Well you’re my guru sir, let the binge watching begin
What did I just watch? I thought the guy was broke according to the title.
Alex is dropping some bombs of wisdom here!
Love your videos bro💯