Alex Hormozi reveals why he decided to become famous

0:00You got a quite the Mosey Media empire going on here. Bring us back to kind of your epiphany when it you realize like damn we got to start building more of an audience here. Move off of sort of the paid ad side and build this business different. >> I just I had reality [clears throat] kind of slap me in the face a bunch of times in a row in a very short period. So like I was just for the audience to like understand the gravity of this 180 degree flip for me is that like I think episode seven of my podcast is called stop branding. Um >> Yeah, I saw

0:25>> And I and I I do I mean I leave it up there cuz I want people to see the you know the abrasion over time. >> that. >> Yeah, no I appreciate it. Um And so I was just like cold outreach, run ads, don't talk to me. You know what I mean? Like I was like that's what it is. Like that's how you're going to get customers. Um and obviously referrals and affiliates and things like that. I just the idea of just organic content didn't really make sense to me. And to be fair I was also a local business owner and I was speaking to local business owners. And I and I kind of I think that there's actually some truth to that. Um because the thing is is like if you actually build an exceptionally large, you know, personal brand it doesn't make sense to monetize through a local business. And so what does make sense for a local business? Well, they probably should have you know have strong referrals from their existing customers, create affiliate relationships with other local businesses. They should run ads, they should do outreach. Like that is probably the

1:11>> Local SEO, yeah. >> Yeah, that is the that is the approach they should be making. But Um I saw Kylie Jenner become a billionaire when she was 20 and I was 27 and I thought I was, you know, hot And I was like she is way richer than I am. And so it means that she's doing something different than I am by by an order of magnitude that I don't understand. And she had a personal brand. But I was like you know what? Kris Jenner's been building her brand since she was five. Like okay, I'll write that off as a fluke. But then, you know, Huda Beauty, you know, sold a chunk of her thing at 600. Now I think it's worth over a billion. And you know, Conor McGregor had Proper Twelve and great George Clooney had Casamigos.

1:51>> Yeah. >> Right? And then The Rock has Teremana. And each of those billion-dollar, billion-to-multi-billion-dollar things like seemingly overnight. Now you've got Logan Logan Paul with Prime. And so, but in that short period, all of It was like 12 months, all of these these play started coming out. And I was like, I'm I'm playing this wrong. And so, I still wasn't convinced because I didn't want to be famous. And I have another clip of me being like, I never want anybody to know who I am, um from a few years ago. And I was sat across the table from a friend of mine who's famous, you would recognize him. Um and I said, like, don't you get bothered by having like weirdos show up at your house like three times a week and like letters to your kids and like, isn't that like

2:29>> [laughter] >> That doesn't seem worth it to me. And he said, um if that's the price I have to pay for the impact I want to have, I'd pay that price twice a day and 7 days a week. And um he just kind of look looked at me. And I just like I just felt very called out, just like for being a pansy. Um and so I was like, all right, well, that's what I'll do. And so, that was like the last uh straw that broke the camel's back, and I started making content that week.

2:56>> Yeah, I see that self-limiting belief a lot with people where, you know, they're like, oh, personal brand, you know, I don't want to be famous. >> Yeah. >> And I think we live in a totally different day and age now, and there's a whole other kind of game being played. I'm you know, I'm curious on your side with, you know, your personal brand, there's a lot of people out there that just can't see the ROI to this. They're like, why am I doing this? I'm going to lose all my privacy, I'll lose all this, and like, what for? You know, how do you look at the ROI of what you what you've built? Yeah. And, you know, I think you guys are spending like millions of dollars now on the whole content operation. We'd love a little bit of the you know, inside baseball and how that kind of all delivers results for you.

3:29>> So, um right off the bat, I don't I don't I will say all up front, I don't think everyone should be famous. I don't think everyone should build a personal brand. I don't think everyone should anything. You can do whatever you want. Um and I have billionaire friends who want to stay anonymous, and they're pretty smart dudes, you know, and so they've made that decision, and I respect that. Um I do think that from a money-making perspective, it is a it is a time warp. Uh you can just go way faster. >> Mhm.

3:55>> And that is because you can attract talent at such a higher rate than you could otherwise. You can bring people on who already know your values, know what you're about, have already consumed more content than most people's employees currently know about them and their way of doing business. You can basically pre-train your entire team before they come on board because of the amount of stuff that you put out. And those are just unbelievably valuable things. Not to mention you know, if if you're on the deal side, you know, like for us like investing in companies, we have so much more trust at the table and I think Charlie Munger said trust is uh the ultimate lubricant for deals. Is like you there's just what you're both trying to make the deal happen rather than being competitive and I think that just it's it's so much better as a process having been on in both types of deals, very competitive deals, like white knuckle deals and really friendly deals.

4:43Way more fun to do friendly deals. Um and so those are you know, those are kind of the the pluses and obviously even audience you can test things quickly. You can find solutions. Like I remember uh even this week I had uh one of our companies um does three or four million dollars a month in just loan volume um as a percentage of their revenue uh for consumer consumer spending. And uh we were we were switching processors and we were kind of linked to a different uh loan engine and I wanted to make sure that we'd be able to transfer it to the new processor. And so I needed to get in contact with somebody high up uh at that loan processing company. I was like, "Hey, if anybody knows anyone, let me know." And I got like seven people who messaged me and they were like, "I know the co-founder. Let me introduce you."

5:22And like just you don't have that >> Right. >> without that kind of brand. So that's the pros. >> Yeah. >> The cons and there are cons um is that privacy is the cost of fame. Like that's what you give up. And for some people that cost is always too much. Um for me I'm not really that different in private than I am publicly so it it didn't seem like too big of a deal. Um I mean that's the thought about it. Second is it's irreversible.

5:47You like once everyone knows what you look like, that's it. Like you can't stop. Like >> [laughter] >> It's irreversible. That's why >> You shave the beard. >> Yeah, right. I think yeah. I think I'd still probably get recognized. Um and uh there's like small social costs like, you know, if I walk outside of the house, I'll I'll get recognized four or five times every time I walk outside. Um and that's fine or if I you know, if I go to dinner with Leila, I'll probably have to stop three or four times during the dinner to take pictures.

6:13Um and that can be um you know, disrupting. And the hard part is is that you always have to be in the best mood ever because this is the one time that this person will ever see you. And they will make 100% of their lifelong judgment and tell every person they ever meet how you are based on the 30 seconds of how you interact with them. And then 10 minutes later, you do it again. And so basically being able to manage that is is a skill, I think. Um and I've worked really hard at that. Uh just because it doesn't matter like no one will ever empathize. So they don't really like boohoo, must you know, must be tough. You did choose that. And that's the thing is like I did choose this. And so I can't lament that. Um I just see that as part of the price. And so giving up privacy is the the TLDR big umbrella cost of getting the fame wheel going. But there are, in my opinion pros and cons, but there are more pros than there are cons. Yeah. I also don't talk about super racy subjects. And so I don't have at least to my knowledge, you know, a huge hater base.

7:15Um I'm not political. Uh for the most part all my stuff that's out there is like to try and help people, you know, make more. And I also lean really far away from shoulds. So I just, you know, up front like do whatever you want. Like this is just the stuff that worked for me. And if it works for you, awesome. If it doesn't work for you, I'm sorry. Try someone else. You know what I mean? That's just That's just worked.

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