The Game with Alex Hormozi Active Business to Passive Income | Ep 361
Jan 6, 2022
Discover how to transform your active business into a source of passive income. Delve into the importance of effective delegation and the mental frameworks necessary for success. Learn strategic approaches to increase revenue without direct involvement, and understand the pivotal questions that drive growth. Plus, get access to a free Scaling Roadmap to navigate your business challenges!
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Active vs. Passive Income
- You can make any business model passive or active, depending on your involvement.
- Switching from entrepreneur to investor often involves actively managing passive income for higher returns.
Gym Launch Example
- Alex Hormozi's Gym Launch earned $17M in 2018 with his full-time involvement.
- By 2020, it made $8M but required only 90 minutes of his time weekly, boosting his dollars-per-hour rate significantly.
CEO to Owner Transition
- Avoid prematurely leaving the CEO role when outsourcing.
- Focus on achieving desired wealth first, then prioritize other life metrics like time and freedom.