The Game with Alex Hormozi How I Made My First Million | Ep 381
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Apr 5, 2022 Discover how focusing on profits can transform your journey to success. Alex shares pivotal moments that fueled his entrepreneurial spirit, including overcoming financial struggles and launching Gym Launch. He stresses the importance of skill development over shortcuts, while emphasizing resilience and adaptability in business. Tune in for invaluable lessons from his experiences and insights on building a thriving coaching model.
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Path to First Million
- Alex Hormozi discusses his journey to his first million in profit, emphasizing the importance of prioritizing profit over revenue.
- He recounts his struggles with multiple businesses, a DUI, and financial setbacks before focusing on Gym Launch.
Financial Setbacks and Gym Launch
- After hitting rock bottom financially, Alex had $23,000 left and decided to focus on Gym Launch.
- He faced another setback when his payment processor withheld $100,000, leaving him with only $1,000.
Payment Processing and Refund Challenges
- Despite financial difficulties, Alex persisted with Gym Launch, facing payment processing challenges and high refund rates.
- He found a high-risk processor but had a limited processing capacity, hindering his ability to scale.
