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The Game with Alex Hormozi

Building Wealth While Building A Business | Re-Air Ep 290

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.94.4K Ratings

🗓️ 15 January 2025

⏱️ 15 minutes

🧾️ Download transcript

Summary

Welcome to The Game w/ Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned and will learn on his path from $100M to $1B in net worth.

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Transcript

Click on a timestamp to play from that location

0:00.0

When I was doing gym launch, which is when I started the original gym launch version of my company,

0:05.4

this is after I had my chain, I would fly out to facilities and fill them up, right?

0:11.4

And then we scaled up to a team and then we'd fly out to those facilities and scale them up.

0:15.2

And what's interesting is when I had my chain of gyms and I built them not to make money, I built them to build a business, right?

0:25.1

That was kind of the mindset.

0:26.1

I was like, I want to build a business.

0:27.3

And so what's interesting is I continued to grow the business, but I didn't make much money.

0:32.1

I mean, I made it enough, but I didn't make a ton of money. But I will say this is that whenever I got into a hard spot,

0:38.6

right, and this may, you may identify with this, whenever I'm going to do a hard place, it was like,

0:42.2

I didn't have enough money and there was payroll coming up, I always found a way to make money,

0:46.7

right? And like never failed. I never missed payroll. I never missed rent. You know what I mean? Like I always found a way. And the same thing happened with

0:55.2

gym launch. When we were flying out, we always found a way. And what's interesting is,

1:02.0

when Jim Wanch was growing, I got into this horrible position. And so what ended up happening was,

1:07.2

I, you know, when I was selling, you know, we'd fly out and I talk to the gym owners and we'd kind of help them with their business, shift everything around, et cetera, right?

1:13.6

But then as I skilled up and then I had sales guys, you know, flying out and doing the sales at these facilities, right? For 30 days owners, they weren't gym owners. They're like, hey, I'm here to close deals.

1:28.3

Which is fine, that's okay.

1:30.3

You know what I mean?

1:31.3

It happens.

1:32.3

But the problem was, what would happen is they would sell people on, you know, a challenge

1:37.3

or a program.

1:38.3

And the gym owners would, after they left, after we'd already fronted the cost of the marketing,

1:44.9

the hotels, the commissions, everything, and sold all these people in their gym, some of the gym

...

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