My First Million

Billy of the Week: Alex Hormozi

Jan 31, 2022
Dive into the impressive journey of a young entrepreneur who racked up $72 million in five years, primarily in the gym business. Discover how he transformed his struggles into success by innovating marketing and launching Gym Launch. The conversation highlights his unique strategies and the impact of technology on user engagement. From ventures in supplements to invaluable business insights, this discussion is packed with entertaining anecdotes and tips for aspiring entrepreneurs.
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ANECDOTE

Alex Hormozi's Gym Empire

  • Alex Hormozi, 31, built a gym business, scaled it to three locations, and then transitioned to teaching others.
  • He created Gym Launch, a $20,000 course and mastermind, and later added supplement and lead generation businesses.
INSIGHT

Hormozi's Prolific Approach

  • Hormozi's diverse ventures, including a book, podcast, and acquisition.com, suggest a prolific entrepreneurial approach, similar to Steve Bartlett.
  • He aims to help scale service-based businesses with $1-10 million EBITDA, offering expertise without requiring majority interest.
ADVICE

Lowering the Bar for "Yes"

  • To improve your sales closing rate, rephrase "yes" questions to reduce commitment pressure.
  • Instead of asking directly, inquire about their openness to signing up if details work out, making it easier to agree.
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