I Interviewed the President of Shopify | Ep 670

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 9 February 2024

⏱️ 89 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Get an inside look at Shopify's exponential growth and its impact on the e-commerce industry! Today, Alex (@AlexHormozi) is joined by Shopify’s President, Harley Finkelstein, as he dives deep into the philosophy and operation of the company, learning how the platform has become a cornerstone for modern entrepreneurs. He reveals the key factors behind Shopify's user-friendly design, robust support system, and its vision for the future of commerce. The conversation also highlights the role of innovation and customer focus in driving business growth.

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 on his path from $100M to $1B in net worth.

Timestamps:

(0:00) - Introduction and the excitement of entrepreneurship

(3:01) - Journey from zero to hero

(5:56) - Entrepreneurship and the t-shirt business

(8:47) - Starting my own DJ business

(11:47) - Starting a snowboard shop

(14:47) - Starting a business by solving your own problem

(17:27) - Increasing your luck surface area

(20:19) - The lowest cost of failure in starting a business

(23:28) - Shifting towards business owners

(26:36) - Focusing on SMBs and e-commerce

(29:41) - Key business principles

(32:55) - Building a long-term business with patience and generosity

(36:03) - The Build the Business competition and its impact on growth

(38:55) - Scaling and growth strategies on Shopify

(41:44) - Finding the perfect fit for your product

(44:31) - Authentic sponsorships and growth strategies

(47:30) - Building partnerships for business growth

(50:21) - Creating your own affiliate program

(53:02) - Making partners rich

(56:10) - Building generational wealth through sharing

(59:02) - The power of vulnerability

(1:02:11) - Shopify's founders mentality

(1:05:26) - The importance of employee tracks and transparency in communication

(1:08:19) - The importance of specialization and teamwork

(1:11:07) - Importance of micromanagement as a leader

(1:13:49) - Alignment and disagreement in Shopify

(1:16:53) - The changing landscape of retail

(1:20:03) - Authenticity and being yourself

(1:22:51) - Authenticity and connecting with others in entrepreneurship

(1:25:38) - Find your passion and solve a problem

(1:28:35) - A fun and valuable conversation with Alex

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Transcript

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0:00.0	A hundred billion dollar company.
0:02.0	This is a pretty exciting time for entrepreneurship.
0:03.9	You're at that point in your stage like this shit gets important.
0:06.5	The cost of failure of starting a business today is by far the lowest has ever been.
0:11.2	Business advice to Harley ten years ago, you've got one thing you can tell.
0:14.0	Welcome everybody to the game.
0:18.0	I got a special episode for you guys today.
0:21.0	As you know, I do not have many guests on my
0:23.9	podcast. I don't like sharing the spotlight. So if somebody's going to be on they've
0:28.2	got to be really really special and have true expertise to give and I think the person that I have with me today or that will be joining us today
0:37.1	definitely meets that in spades and so
0:40.5	Harley is a God amongst men, a legend in the making, and runs a small company, you may not have heard of it, Shopify, which right now is a publicly traded company. It's worth right now. I think it was 80 billion if I'm not mistaken probably correct me there
0:58.8	I think it's closer to a hundred billion but yeah I was 20 billion billion you just you just wrapped it down by 20
1:04.2	billion dollars which for someone like me like you know this is like I don't come from this
1:08.3	world this is you know I'm a tourist here that's a lot of money. So a hundred billion dollar company. So that's a so
1:17.1	ten figures is a billion eleven twelve a twelve figure company there you go.
1:22.4	And just a 12 a 12 figure company there you go
1:55.5	The only thing that rivals the the business success that he has is the humility that he brings to it. He was willing to hop on a call with me before this and we hit it off and I was like I just I know my audience would love to talk to you and just kind of hear your perspective of entrepreneurship and you have such an interesting story that I think will relate to so many people in my audience from the people who are just trying to figure out what they want to do to make money all the way to you know right now the 20% of my audience is you know winning entrepreneurs with you know large companies and so forth so we definitely have the
1:58.5	gamut from an entrepreneurship perspective kind of a beginning middle and end and, so thank you so much for taking time
2:04.2	to join us today.
2:05.2	It's a great honor to be here, Alex.
2:06.2	Thank you so much.
	...

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