Ownership To CEO | Ep 366

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 25 January 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

OWN the company, not RUN it! Today, Alex (@AlexHormozi) talks about the difference between being an owner vs. a CEO of the business and the advice to take in order to sell the company and get the freedom you desire.

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:

(1:49) - Learn how to structure the business in such a way that the moment you sell it, it can run on its own without you and enable you to have more freedom. If you are the CEO (and not the full owner) of the business, that means the company is still heavily reliant on you.

(4:46) - “Nose in, hands out”. In order to become an owner of your business, be there as an advisor rather than leading the team.

(6:58) - The company has to grow and innovate without your presence in order for you to call yourself an owner. Ask yourself “can the CEO you hired run the business without my help?”

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Transcript

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0:00.0	Real quick, you guys already know that I don't run any ads on this and I don't sell anything.
0:04.5	And so the only ask that I can ever have are you guys that you help me spread the words we
0:07.9	cannot more entrepreneurs, make more money, feed their families, make better products,
0:11.9	and have better experiences for their employees and customers. And the only way we do that is if
0:16.3	you can rate and review and share this podcast. So the single thing that I have to do is you can
0:21.0	leave review, take you 10 seconds or one type of the thumb, it would mean the absolute world to me,
0:25.2	and more importantly, it may change the world of someone else.
0:28.1	Now, to structure the business in order to sell it and why you should do that independent
0:31.6	of whether or not you plan on selling it in the future. Welcome to the game where we talk about
0:36.6	how to get more customers, how to make more customers, how to keep them longer, and the many
0:40.0	failures and lessons we have learned along the way. I hope you enjoy and subscribe.
0:50.9	In this video, I'm going to talk to you about how to structure the business in order to sell it
0:54.6	and why you should do that independent of whether or not you plan on selling it in the future.
0:58.5	So hi, my name is Alex Ramozi. I have a portfolio of companies that does just under $100
1:01.9	million a year in revenue. We own three outright. We have five that we have minority positions in,
1:07.0	and I have absolutely nothing to sell you. And the reason I make the standoffs is because lots of
1:09.9	people are broke and I don't want you to be one of them. So if you have a business right now and
1:13.8	you're trying to scale it, you're trying to grow it, there's usually one of two outcomes,
1:17.3	right? Either this is something that you're super passionate about or this is an opportunity that
1:22.1	you're passionate about because of the upside potential of making lots of money. There's tons of
1:25.6	people who are really, you know, build software companies that are like super passionate about
1:28.4	like data management, but they're really good at it and they think there's an opportunity to make
	...

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