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Don't Do Business With Convicted Felons

Alex, you've talked in the past on a bunch of different podcasts about that guy that took 180 grand from you. Um and then there was a time you had to make like $20,000 in a commission, payout 20 sales guys had 20 grand or something like that in the bank account.

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Alex Hormozi ›

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3:07
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Key takeaways

  • Um and then there was a time you had to make like $20,000 in a commission, payout 20 sales guys had 20 grand or something like that in the bank account.
  • So, having that experience, I'll be like, all right, well, in the future, don't do business with convicted felons.
  • And uh Layla's like, there's just other people who aren't that we can do business with.
  • >> So, you you never questioned the business path?

Chapters

  1. 0:00
    Abschnitt 1 Alex, you've talked in the past on a bunch of different podcasts about that guy that took 180 grand from you.
  2. 0:34
    Abschnitt 2 Like what am I going to do differently?
  3. 1:10
    Abschnitt 3 >> [laughter] >> Right?
  4. 1:42
    Abschnitt 4 I'm trying The timing was No, that was the first time I lost everything.
  5. 2:09
    Abschnitt 5 >> [snorts] >> If you are a business owner and you are not growing as fast as you like, I'd like to give you a free gift.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

5 segments

0:00Alex, you've talked in the past on a bunch of different podcasts about that guy that took 180 grand from you. Um and then there was a time you had to make like $20,000 in a commission, payout 20 sales guys had 20 grand or something like that in the bank account. In moments [snorts] like that, what kept you going? And then secondarily, how'd you know you were on the right path? >> Oh, uh I didn't know I was on the right path. Uh so for question question two, I'll answer first. Um and then in terms of you know, I I fundamentally ask like what is it going to change in my behavior? Right?

0:34Like what am I going to do differently? So, having that experience, I'll be like, all right, well, in the future, don't do business with convicted felons. Like check that one off. I knew he was a convicted felon. And I was like, it was a misunderstanding. Um And the thing is it's like I I'm a pretty forgiving guy. You know what I mean? I'm like, I get it. I've done stuff in the past, like, you know? And uh Layla's like, there's just other people who aren't that we can do business with. And this isn't me giving like any advice. I like I've known plenty of people who've been ex-addicts, things like that. Like I I'm a very The question is like, I might not bet my net worth on it.

1:10>> [laughter] >> Right? So, not to say you can't give people second chances. It's just how much am I going to risk, you know, with a deal like that? And so, um in terms of keep going, it's like the alternative was what? Go back to Baltimore a failure? I'd rather just keep going. And so, I think that's where you just extend the time horizon. And you think, okay, what did I learn from this? And I at that point, I'd already lost everything. Was that my first time? No, that was the first time I lost. No, that was the second.

1:42I'm trying The timing was No, that was the first time I lost everything. When he took the money, it was the first time I lost everything. Um Yeah. I mean, what else am I going to do? >> So, you you never questioned the business path? >> I didn't know what I was going to do, but I did but I did know I wasn't going to stop. And I think that's pretty much all all what I've committed to. Is like I just won't stop. >> Fair enough. Cool. >> Yeah, hopefully that was helpful.

2:09>> [snorts] >> If you are a business owner and you are not growing as fast as you like, I'd like to give you a free gift. So, my team and I put together the 100 million dollar scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly where they got stuck and how they got past it. And so we broke it in these 10 stages and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources and finance. And so, no matter what you're struggling with, someone else has already struggled with it and solved it. And so I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information and if you want us to actually help you deconstruct the business and you're trying to scale, we'd love to help you out. All the thank you pages, book a call with my team and we will look at your business, see if we can help and if we can, we'll invite you out to Vegas and we'll do this in person live.