Starting From Zero | Ep 689

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 25 March 2024

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

"The questions you ask dictate the problems you'll solve," Today, Alex (@AlexHormozi) talks about the importance of learning from past mistakes, strategic thinking, and leveraging skills to succeed, including starting ventures without initial capital. The discussion revolves around resilience, innovation, and the power of asking the right questions, leading to the ambitious goal of building a billion-dollar enterprise.

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:

(0:56) - Having a Plan B is beneficial due to unknowns.

(3:47) - Learning from loss: the art of bouncing back

(8:07) - Building businesses with skills, not capital

(14:17) - The philosophy of cashflow positive businesses

(15:29) - Creative problem solving and entrepreneurial questions

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

Transcript

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0:00.0	So I started at Zero when I started my first gyms,
0:02.2	with New Knowledge, I started my turnkey sales company
0:05.4	with Zero, and with New Knowledge after that,
0:08.2	I started the licensing business at Zero once again,
0:11.6	each time learning from the mistakes of my past.
0:15.0	Welcome to the game where we talk about how to sell more stuff to more people in more ways and build businesses worth owning.
0:22.0	I'm trying to build a billion dollar thing
0:23.5	with acquisition.com. I always wish Bessos, Musk and Buffett had documented their
0:27.2	journey so I'm doing it for the rest of us. Please share and enjoy.
0:29.8	When I had my job and I had a pretty decent job I was making 50 60,000 dollars a year and I was 22-ish as a consultant and it was a good stable job and look good on the resume and you know my dad could brag about it at parties and he
0:44.8	wouldn't like his son doing the right thing he's gonna do this he's gonna go
0:47.8	to business school and blah blah blah and leaving that took me a lot of pain mentally to get through and I've talked about that before so I won't go into it.
0:56.4	But one of the things that I had to do was figure out what my plan B was right and Arnold Schwarzenegger talks about not having a plan B because if if you have a plan B, then it means you're not committed to plan A.
1:05.5	I don't agree with that. I like having contingencies and knowing what I'm actually going to do, because sometimes there are unknowns that can mess up your planet.
1:14.1	Now you might say, oh, you should commit even more to it.
1:16.6	Teach his own.
1:18.0	That being said, when I quit my job, my actual plan B because I had no skills was that I would strip at night and I would drive Uber during the day and I figured I could drive Uber and make probably 70 to 90,000 a year driving Uber during the day and if I stripped six nights a week,
1:32.8	I can make another 300 to 400,000 dollars a year.
1:35.6	And that's based on the strippers that I know who work three days a week,
1:38.8	five hours, that's 15 hours a week, they make about 120.
1:41.8	So if I did that 45 hours a week I would make
1:43.9	360 from stripping and assuming that I would be at least as awesome as
	...

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