Alex Hormozi reveals the blueprint to go from broke to rich

0:00First step for for any entrepreneur. >> Yeah. >> Fitness industry, branding. >> Yeah. >> What advice would that be? >> Sell one thing to one person on one channel. So a lot of people try and get really cute and try and do lots of things, but zero to six figures, which is, you know, is really just sell something to a specific customer on one channel. When I say channel, I mean like you learn how to sell through Instagram DMs. You learn how to make YouTube videos that generates inbound leads. You learn how to run ads. You learn how to do cold calls. You learn how to do cold Like whatever acquisition that you learn how to recruit affiliates. You learn how to create a referral system. Doesn't really matter what way you do it. One method for one specific type of customer with one product. That is what gets you from zero to six figures. If you want to go from six figure to seven figures, it's doing each of those steps, {comma} consistently. Cuz what happens is most people make a sale and then they stop working.

0:53And so it's being able to consistently do the activities that generate the sales. If you just do it consistently, then you get to seven figures. Um at that point, you usually have to look at a bigger picture in terms of the strategy of the business, which is, okay, how can we afford to get even more customers? So, that's usually when you have to add in some sort of back-end products um to increase the lifetime value of each customer. And then I won't get beyond that, but at that point and yeah, yeah, and then at that point you'll be able to afford to go through other channels to get more customers.

1:25Um and that'll That's just I'll cap it there. That gets you to a million a month and then we'll stop there. >> [laughter] >> So so so so basically from from entry point here, what what would be your first step if you lost everything today? >> Yeah. >> Okay? Strip everything back down or you're just giving somebody that's just walked into the gym. I want to be the next Alex Hormozi. >> Yeah. >> What would be the the the very first thing that they need to to focus on other than incredible beer and carbs?

1:51>> First thing I'd say is be you, not me, cuz you're not going to be me at being me. Um but you know, one, get an LLC set up through the LegalZoom. Two, go to take the LLC to bank get them to give you a bank account. Step three, set that bank account, hook it up to Stripe or PayPal to get a way to process money. >> [clears throat] >> Step four, message people with the thing that you are trying to sell and ask them to hop on the phone so that you can sell them the thing. Then they will give you their credit card and then you run that card and then you will get money and then you and then you do the thing that you said you were going to do in exchange for money. That is a business.

2:24>> That is the easiest way that that and the most understandable thing I've heard from your mouth all podcast which to [laughter] be honest with you, mate. Even I was on board with that. No, but again, we we have a wide variety of different people who are watching you. We have a lot of young guys, you know, aspiring young, you know, hustlers. I know that, you know, you got a videographer next to me. I was I had the pleasure of talking to him before we jumped on the podcast and, you know, he obviously put himself in uncomfortable situations until it became comfy and and put himself into a, you know, LA until Alex Hormozi was hit up and you guys have linked, right? So, again, I love that approach to um, you know, just turning your hat back to front and hustling. I I've got my own story. I came here at 20. I knew one person. I slept on a sofa. Wanted to be the best in the world. I put myself all over California until I put myself into the gym where I had my kicked twice a day and I was around people um, that that [snorts] truly got the best version of me and then I seen the the best version of me and I realized then I could do this. So, you know, you got to get beaten down. You got to be uh, you know, and have a an incredible mindset to to focus forward um, and learn from every mistake that has come.

3:36And for me, sitting out in the in in my shoes that I'm in now, obviously I'm not as accomplished in business as as you are. >> You're more accomplished in bodybuilding. >> But, bodybuilding is a different thing. >> [laughter] >> Um, but again, it's it's more more of the the circle of people I have around me now that that I'm I I pick um and I learn from. Um you know, again, if it was came to bodybuilding, I've been around the best.

4:02I I I I feel like I know everything in that space. Um and there's nothing else for me to achieve in that space. But, what interests me now is the business element. Is other things that that scared the of me just like being half naked up on stage did. So, now I'm chasing these new goals and these new dreams and um again, putting myself, as I said, another cliche, the same thing again, in in uncomfortable situations until it become comfy, just like this podcast, right? This is This is nothing I ended up, you know, wanting to uh aspire to to be, kid from Wales with this accent and incredible lisp that I've had to work through.

4:35Um but again, I I get to be around and interview friends and get to hear their stories and and what the common storyline among among everybody I've had on this podcast is um nothing has been given easy. Everything has come from trials, tribulations, failures, and they're be still admittedly learning from their failures, no matter how much success they've had, no matter how great their life is, no matter what car they're driving, how how big their house is.

5:05Um they're still aspiring to be better every single day. And that's when I look at you, mate. That that's something I I always gravitate and get from you is you're humble, you're driven, you you live very frivo- frivolously, you don't uh you spend on on on exotic stuff and and and front. And um you're probably one, if not one of the most, if not the most accomplished person that that that walks around this gym um in business. So, for me to you, mate, I actually like that.

5:37>> Business. >> [laughter] >> There he goes again, see? Trying to take away the compliment. Which I truly love, to be honest with you. I do love the humility. But but again, I think that that's one of the the traits and many traits obviously that I that I like about being around you. You you lose me in half of the conversation half the time to be [laughter] honest with you. It'd be like me talking about bodybuilding drop sets and this that and the other, but um I'm there to a certain point. But again, with the viewers we have on and getting you on this podcast today, I I I truly hope that um you know, a lot of these uh guys and girls that are watching this have taken you know, the storyline of of the success story and and not seeing it as this was given to you. This is truly earned.

6:20>> If I can just talk and first off, thank you. I appreciate it. It was very nice of you to say. Um if I can toss this out for the people who are, you know, younger on the on the come up or they're not on the come up, but they want to be on the come up. Um one is that you have to figure out what problem you're trying to solve. So, a lot of people start down a career path, you know, even if it's let's say let's say it's bodybuilding, right? And they haven't actually played it out. So, my my three favorite questions to ask when we're trying to make a big strategic decision is number one, what problem we're trying to solve? Number two is let's play it out. And number three is which problem do we prefer? And so, if you figure out what problem you're trying to solve, then you are like, okay, well then there's multiple scenarios to solve this problem. So, you play out each of them. So, if someone's like, well, I want to be a bodybuilder.

7:03You're like, why? They're like, well, I want to make money. It's like, okay, that's a different problem, right? And so, like to be fair, the only way you're going to make that is if you're literally number one or top five, you know, that you'll make realish money, right? Right. On the flip side, you could probably become an influencer without even stepping on stage and make significantly more money. You know what I mean? If that's the, you know, the the goal. So, it's again, what problem are we solving? Then you play it out. You're like, okay, well, now I've now I'm number one.

7:29Now what? It's like, well, I wanted to like for me and playing it out was like, okay, I'm going to go to business school. Okay, then what? It's like, okay, well then I'll get a consulting job that makes me $120,000 a year. Okay, then what? It's like, Like, I guess I would to work up the ladder there, and then eventually I would save enough money to start a business. I was like, "Well, what if I just did that, if that's what I want to do?" And so, those are three questions I would ask myself. The second thing is that if you do not know the input-output equation for how you're going to be successful, you will not be successful.

7:57And so, what I mean that by that is you have to figure out what primary actions you have to take that will continue to stack up over time. So, for example, if I wanted to create a marketing agency, or I wanted to sell widgets, or whatever it was, like, I will need to get customers. And so, either I will reach out individually to friends and family, I will reach out individually to strangers to get them to hop on the phone and buy my thing, right? I will run ads to get it, or I will post content in order to get more customers.

8:27Beyond that, I could get affiliates, or I could get referrals to send me people. That's it. Those are the only ways we can get customers. If you don't know what the input system is there, where you're like, "Okay, I need to do 100 reach outs a day. I need to make five pieces of content. I need to I need to get two affiliate relationships a week. I need to Whatever the input is, if you don't know what that is, then you're never going to get there." So, you have to figure out what problem you're trying to solve, you have to play it out, and then figure out which problem you prefer, and then figure out what your input-output equation is to getting what you want.

8:57And then, you do it. And you do it as many times as you possibly can, and you ignore everybody who tells you that you're wrong, and tells you that you're not going to get there, and most of all, you ignore the thoughts that you are telling yourself about why you're not going to get there, because you are wrong on a long enough time horizon if you do the thing. And so, if you do that, it becomes unreasonable that you won't succeed. And so, I like to create unreasonable equations for myself, which is if I did this thing every single day for 10 years, and I never stopped, would it be unreasonable that I won't be a millionaire?

9:36If it's unreasonable that I won't be a millionaire, or I won't be a billionaire or whatever your number is, then I'm like, cool, then that's what I need to do. And so, if you haven't figured out your input-output equation, which is what I need to do to get the thing, then is the first problem you have to solve. Once you do that, the rest of it is wake up early, spend the first 6 hours of your day making your content, doing your reach-outs, recruiting affiliates, blah blah blah, whatever thing it is, and then don't let anyone stop you. And that also means saying no to things that you probably want to do right now.

10:02Because the people who are further ahead of you have no more time than you do. They do things differently than you. And if you fill your time right now, every day, which you probably do cuz you're alive, you do things during the day, then it's not about adding more to your plate, it's about removing the things on your plate right now that you're wasting your time with. If you like this video and you're business owner who wants to break through your current revenue ceiling, I distilled every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling road map that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so, you can click here and you can check it out.

10:41Again, absolutely free. And since you're business owner, I appreciate you and enjoy.