In a thought-provoking conversation, Alex Hermosi and his guests delve into the intricacies of business growth, content creation, and personal development. Hermosi challenges the notion of being the "greatest of all time," suggesting that true success lies in paving the way for others to surpass you. The dialogue covers practical strategies for entrepreneurs, such as providing high-value content for free, adopting a "watch, do, watch, do" learning approach, and identifying and overcoming business constraints. Hermosi also shares his personal journey, revealing a mindset shift from dismissing social media to leveraging it for brand building and deal flow. He candidly discusses his ambitions, including becoming the "most jacked billionaire," and emphasizes the importance of enduring discomfort for long-term success, a sentiment he hopes to impart to aspiring entrepreneurs.
"A lot of people were like the goat, and they want to be the greatest of all time. And I think that if you're the greatest all time, then you failed."
The quote emphasizes that true greatness is not just about personal achievements but also about the ability to contribute to others' growth.
"I want to make stuff that people would otherwise charge lots of money for and then just give it away for free."
This quote reflects the intention behind the content creation: to provide high-value, practical information at no cost.
"I want everybody in mozination to do is consume, execute, and keep executing until you realize you hit another point where you need to consume more and consume the next thing."
This quote outlines a cycle of learning and applying knowledge, suggesting that continuous improvement comes from action after consumption.
"A system will grow until it is constrained, and then it will grow no longer until that constraint is fixed."
This quote highlights the principle that businesses must overcome limiting factors to continue growing.
"I saw her on the COVID of Forbes, and I was like, she's younger than I am, and she's a billionaire. And I feel like I know more about business, and I need to learn from that."
Alex Hormozi acknowledges the impact of Kylie Jenner's success on his understanding of modern business strategies and the importance of brand and social media.
"But for me to be a billionaire, I didn't understand brand, and it was my big deficiency."
This quote reveals a personal revelation about the importance of branding in business growth and success.
"If that's the price I have to pay to make the impact I want to have, I'll do it every day of the week."
The quote captures the moment of realization that influence and impact may require a level of fame and public visibility.
"Well, I had infrastructure with gym launch, so I just had the video guy post it at the time. So I just did that because it was low lift for me."
This quote explains that Alex leveraged existing resources from his business, Gym Launch, to facilitate his entry into content creation without significant additional effort.
"The more content you put out, the more impressions you get. Everything grows that way because quantity is the only forcing metric for quality."
Alex is highlighting the principle that consistent and voluminous content creation is essential for improving quality and increasing visibility.
"And then slowly added an editor. And then I was like, okay, well, maybe I should do, a guy approached me, he was like, I could do shorts for you."
This quote illustrates Alex's incremental approach to improving his content quality and experimenting with new formats through collaboration with others.
"Our entire goal is not to just have them do it, but for us to study every aspect of what they're doing and why they're doing it, so that we can bring it in house."
Alex describes his strategic approach to learning from external vendors with the ultimate aim of internalizing those capabilities.
"It took me a while to figure out that media in and of itself grows in a compounding way."
Alex acknowledges his delayed understanding of the exponential potential of media and its impact on growth.
"I'm always here to make money. That's what I'm trying to do."
Alex clearly states his primary objective of making money, ensuring transparency about his intentions.
"The big vision is to document and share the best practice of building world class companies."
This quote outlines Alex's broader mission, which goes beyond financial gain to include educational and inspirational goals.
"So it hasn't grown because Covid was not good for gyms."
This quote indicates that despite past success, Alex's personal income has been affected by external factors, specifically the pandemic.
"I also didn't understand the concept of reinvesting the business, or M and A at that point."
Alex admits his previous lack of knowledge in key business growth strategies, which has since become an area of learning and application.
"And so we still grew, though. We did 37 million top line, and then we did, I think 13 million is what I took out that year. And then 2020 was Covid, which was three months in, and we actually had planned to sell. We went to market the month before COVID started." "But because we were on an upper trajectory coming out of January and they loosened some of the COVID stuff, we just pretty much started going straight up to the right."
The quotes highlight the resilience and growth of Alex's business despite the initial negative impact of the COVID-19 pandemic. The business continued to thrive financially, with an upward trend in revenue post-January.
"And so we went super aggressive in acquisitions because that year, in 2021, the reason I actually decided to go through the sale, I actually almost backed out of the sale twice, was because I had done three deals that year, that year, and all three were going really well." "So we have eleven now. And so we do minority stakes and so the portfolio right now does just under 200 million top line."
The quotes explain Alex's shift in focus towards acquisitions after realizing his passion for growing companies. The portfolio's success is emphasized by its substantial top-line revenue and the strategic choice to take minority stakes in profitable, growing businesses.
"So we have a strategy deck that's like, what are the need to believes for this to be true? So one is that Alex can gain a social media following." "The fourth need to believe was that we would be able to add material or outsized returns or value through our own experience by taking on companies that fit our, we call it the vam, but it's like our value acceleration method."
These quotes detail the strategic plan Alex has for leveraging social media to attract investment opportunities and enhance business growth. The "need to believes" serve as a foundation for the strategy, highlighting the importance of social media influence and the ability to significantly increase company profits through their value acceleration method.
"Me saying something and getting canceled for some reason. That's what I think. Threats wise? Yes. Do I think I would adapt? Yes, but in terms of like, because I will either win or I will die." "I think in a single word, it's like irreparable brand damage."
The quotes convey Alex's perception of the current "cancel culture" as a significant risk to his business and brand. He emphasizes his determination to succeed, regardless of the challenges, and contemplates strategies to mitigate the impact of potential brand damage.
"Thought it was funny mostly, but I figured it was just become a billionaire, and at that point, I will probably be the most jacked guy in the room." "He's not more jacked than I am."
These quotes reflect Alex's lighthearted approach to setting personal goals, tying together his aspirations for both financial success and physical fitness. He uses humor to address the topic while also expressing confidence in his fitness achievements compared to other wealthy individuals.
"I think it's really just a milestone. It's way less about the actual billion dollars. But I do think to the point earlier about having the credibility to." "I want to go all the way and show every single step of the process how I did it so other people can do it."
These quotes highlight that for Hormozi, reaching a billion dollars is about credibility and providing a blueprint for success to others, not the financial status itself.
"We've talked about this a lot, but Gary didn't have Gary. Right. Gary just paved the way for people like us to go do what we're doing, and we learn from their mistakes and their best practices, and we don't have to wait ten years to learn it."
Hormozi stresses the value of learning from those who came before and how it accelerates the path to success for the next generation.
"If you're the greatest all time, then you failed because especially if you want to be a teacher of some kind, which is a relatively loaded word, but if you want to pass on lessons to other people, if you were the greatest of all time, then you failed."
This quote conveys Hormozi's belief that true success as a teacher or mentor comes from enabling others to exceed your achievements, not just being the best yourself.
"You have to start, you have to do the same amount of effort that the person who you think you want to emulate has done."
This quote suggests that aspiring millionaires must be willing to put in the same level of work as those they look up to in order to achieve similar success.
"It comes from having deep roots, you know what I mean, in a subject or a sector."
Hormozi emphasizes the importance of deep, specialized knowledge in a field as a foundation for success.
"So the only way to be the greatest of all time is to not be and to have set the stage for people who are younger who, I don't know, to beat me."
The quote reflects Hormozi's philosophy that the true measure of greatness is setting up future generations for success beyond one's own achievements.
"Alex taught me that the feelings that I have are independent of the character traits that I want to espouse."
This quote encapsulates Hormozi's message that personal growth involves acting in accordance with desired virtues, regardless of emotions.
"It's enduring short term discomfort for long term achievement."
Here, Hormozi summarizes his philosophy of personal development, emphasizing the importance of perseverance and resilience in the pursuit of long-term success.