Lessons Learned from Investing in 22 Companies (Pt.2) | Ep 590
The Game with Alex Hormozi
Alex Hormozi
4.9 • 4.8K Ratings
🗓️ 21 September 2023
⏱️ 54 minutes
🧾️ Download transcript
Summary
“The way you act during the deal process is a great predictor for us or a great measuring stick for us to see how you're gonna act afterwards.” Today, Alex (@AlexHormozi) discusses the importance of being founder-friendly in investment decisions and prioritizing the qualities of the founder over the business. He also shares his views on private equity models and the need for hard conversations in unlocking 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:
(0:40) Founder-friendly approach during deal process.
(10:02) Prioritize founder over the business.
(18:53) Theory of constraints in investment decisions.
(29:13) Disruptability by AI and bigger companies.
(34:36) Business doesn't require perfection or compounding vehicle.
(40:22) A "gray hair" on the team is needed.
(44:43) Checklist for selection as a portfolio company.
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Transcript
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| 0:00.0 | Real quick, guys, if you can think about how you found this podcast, somebody probably |
| 0:03.8 | tweeted it, told you about it, shared it on Instagram, or something like that. |
| 0:07.5 | The only way this grows is through word of mouth. And so I don't run ads, I don't do sponsorships, |
| 0:12.2 | I don't sell anything. My only ask is that you continue to pay it forward to whoever showed you or |
| 0:16.5 | however you found out about this podcast that you do the exact same thing. So if it was a review, |
| 0:21.0 | if it was a post, if you do that, it would mean the world to me and you'll throw some good comment |
| 0:24.3 | out there for another entrepreneur. I'll say this, is that the founders who are willing to have |
| 0:27.9 | hard conversations are the ones that unlock the hard-to-get-to-graph. Because most of the growth |
| 0:33.4 | in every business sits on the other side of two or three hard conversations. |
| 0:39.1 | The wealthiest people in the world see business as a game. This podcast, the game, |
| 0:42.4 | is my attempt at documenting the lessons I've learned on my way to building acquisition.com |
| 0:45.9 | into a billion dollar portfolio. My hope is that you use the lessons to grow your business, |
| 0:49.2 | and maybe someday soon partner with us to get to $100 million in beyond. I hope you share and enjoy. |
| 0:53.7 | The three beliefs I'm about to share with you are ones that I have leaned even more on. So I |
| 0:59.8 | believe them at the beginning and now I would say they're core pillars of how we make investment |
| 1:04.8 | decisions. So number one is being founder-friendly. And so the idea that we wanted with acquisition |
| 1:11.2 | not-com because I've gone through several transactions with institutional buyers, meaning like |
| 1:14.5 | people who have lots of money, is I didn't enjoy those transactions. I didn't enjoy necessarily what |
| 1:19.3 | happened afterwards. And this is no like, they're all great people. I just, I think that the way |
| 1:24.4 | that the process was approached could be better. That's more what I'm saying. And so we wanted to |
| 1:29.1 | create something different. We wanted something to be founder-friendly. And rather than basically |
| 1:34.0 | taking out the founder entirely, which is the vast majority of the investment world with the |
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