Ownership to CEO | Ep 635

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 21 November 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

(This episode is a re-run. Original airdate was January 25, 2022)

“Ownership. Is the goal, not CEOship”. Today, Alex (@AlexHormozi) highlights the importance of structuring a business for potential sale, even without immediate plans. He explores the distinction between being a CEO and an owner, the benefits of transitioning from CEO to owner, and the significance of building self-sustaining businesses.

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:

(2:40) - Mistake of being CEO of multiple businesses simultaneously

(3:34) - The difference between being a CEO and an owner

(4:32) - Being a strategic advisor and not leading meetings

(6:22) - The importance of building a business that can operate without the owner

(7:36) - Removing oneself from central communication to create leverage

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Transcript

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0:00.0	So right now your business does not have a CEO and you say that you are passive in it
0:03.6	I would probably challenge you on that and say that's not true.
0:06.5	Right the company has to be able to grow and innovate without you.
0:13.0	The wealthiest people in the world see business as a game.
0:15.0	This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building
0:18.8	acquisition.com into a billion dollar portfolio.
0:21.0	My hope is that you use the lessons to grow your business and maybe someday soon partner with us to get to a
0:24.7	hundred million dollars and beyond. I hope you share and enjoy. I'm going to talk to you about how to structure the business in order to sell it and why you should do that
0:36.2	independent of whether or not you plan on selling it in the future.
0:39.2	So if you have a business right now and you're trying to scale it, you're trying to grow it,
0:43.0	there's usually one of two outcomes, right?
0:45.0	Either this is something that you're super passionate about,
0:48.0	or this is an opportunity that you're passionate about because of the upside potential of making lots of money.
0:52.0	There's tons of people who are really, you know,
0:53.4	build software companies that are not like super passionate
0:55.2	about like data management,
0:56.2	but they're really good at it
0:57.0	and they think there's an opportunity to make money.
0:58.5	It doesn't really matter to me.
0:59.4	Whatever way you do it is fine.
1:00.9	But what happens is over the trajectory of the careers of the entrepreneur you know we develop
1:04.6	in skill sets we level level up you know first we're doing then we're managing that we're
	...

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