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The Game with Alex Hormozi

Life Changing Money Beliefs | Ep 286

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.94.4K Ratings

🗓️ 23 March 2021

⏱️ 15 minutes

🧾️ Download transcript

Summary

It takes money to grow a business. Today, Alex (@AlexHormozi) talks about his beginning with Gym Launch, the obstacles he went through, how his sudden shift in mentality got him out of an endless cycle of burden, and how this change in perception led him to the path of success.

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(0:54) - Gym Launch, the endless cycle of being stuck in a rough place, and the obstacle of refund rates

(5:03)  - Alex changed his perception with one line: “I just have to make money”

(6:49) - The people who are really successful are always in that mindset of generating money

(10:38) - Risks are unforeseeable, ask yourself “How can I actually make money from this thing rather than just building this thing?”

(12:42) - Warren Buffet and his concept of “owner earnings” can change the way you look at money and business

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Transcript

Click on a timestamp to play from that location

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, do whoever showed you,

0:16.4

or 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. So just imagine losing everything you have in a week,

0:27.4

it was horrible. And this is just after I had kind of come out of my barely getting out of

0:31.2

bankruptcy situations. Welcome to the game where we talk about how to get more customers,

0:34.9

how to make more customers, how to make more customers, how to keep them longer,

0:36.9

and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe.

0:41.6

What's going on everyone? I have an exciting topic for you today. It is how, and I guarantee that

0:46.5

anyone who makes this shift will make significantly more money for the rest of their lives.

0:51.1

All right, so this is a good one worth listening to. When I was doing gym launch,

0:57.0

which is when I started the original gym launch version of my company, this is after I had my chain,

1:02.4

I would fly out to facilities and fill them up, right? And then we scaled up to a team and then we'd

1:07.4

fly out to those facilities and scale them up. And what's interesting is when I had my chain of gyms,

1:13.6

and I built them not to make money, I built them to build a business, right? That was kind of the

1:20.0

mindset. I was like, I want to build a business. And so what's interesting is I continued to grow

1:23.9

the business, but I didn't make much money. I mean, I made it enough, but I didn't make a ton of money.

1:29.6

But I will say this is that whenever I got into a hard spot, right? And this made you may

1:34.5

identify with this. Whenever I'm going to do a hard place, I was like, I didn't have enough money,

...

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