Deep Dive with Ali Abdaal

Alex Hormozi: How He Built A $150 Million Empire And His Best Business Advice

809 snips
Oct 13, 2022
Alex Hormozi is a successful entrepreneur and author, known for his impressive $150 million portfolio. In this engaging conversation, he shares his philosophy that success comes from improving existing ideas rather than needing something novel. Hormozi emphasizes the journey from employee to business owner and the critical importance of learning through real-world experience. He dives into effective sales strategies, the relationship between wealth and happiness, and the significance of investing in personal knowledge to scale businesses and achieve financial freedom.
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ADVICE

Starting a Business

  • Start with a service business, leveraging your existing skills and experience.
  • Identify problems in your area of expertise and offer better solutions than competitors.
INSIGHT

Learn vs. Earn

  • Initially, prioritize learning over earning when starting a business.
  • Treat your early income as an investment in education to reduce ignorance debt.
ANECDOTE

Free Training Project

  • Alex Hormozi started a "free training project" where clients donated to charity in exchange for his fitness services.
  • This built testimonials and allowed him to transition to a paid model.
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