The Agency Trap: How to Avoid Wasting Money | Ep 623

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 24 October 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

"You can learn every platform on your own. It just takes more time." Today, Alex (@AlexHormozi) shares his experience of growing his audience across all platforms through hiring agencies to help him with content creation and platform strategy. He emphasizes the importance of setting clear expectations and learning from the agency to eventually bring the work in-house for long-term success.

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:

(2:52) - Outsource and learn from experts.

(7:05) - Be cautious when using agencies.

(9:52) - Long-term consulting relationships are valuable.

(16:47) - De-risk future investors by using in-house agencies.

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Transcript

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0:13.2	Mosan Nation real quick if you are a business owner that has a big old business and wants to get to a much bigger business going to 50 100 million dollars plus we would love to talk to you and if you like that or would like to hear more about it go to acquisition.com and you can comply anywhere on the page and talk to one of our team and see if we can help you get there.
0:18.0	And this is what I believe has married the best parts of agency and the best part of building an enterprise and making a valuable business
0:25.0	and avoided the agency trap that so many people fall into, myself included.
0:30.0	Welcome to the game where we talk about how to sell more stuff to more people in more ways and build businesses worth owning.
0:38.0	I'm trying to build a billion dollar thing with acquisition.com. I always wish Bessos Musk and Buffett had documented their journey so I'm doing it for the rest of us.
0:44.7	Please share and enjoy.
0:48.3	Over the last 24 months I added 5 million people to my audience across all platforms and in the last 12 I
0:54.4	added 4 million and that was all from organic content but believe it or not I
0:59.2	didn't post on any of those platforms or know much about any of it at all.
1:04.3	And so rather than try and learn it all myself, I went to experts.
1:08.8	And so what I want to break down today is how every single one of these platforms I actually
1:12.4	didn't start
1:12.9	myself but started with an agency and kind of the process that I went through.
1:16.0	So if you are somebody who like wants to get into content, wants to start making stuff,
1:20.3	I will break down how I did it so you can model whatever aspects of that are useful for you.
1:26.0	So first off, I notice this pattern only in retrospect.
1:30.0	So when I get into something, you either have to pay in time or you pay in money to get the experience.
1:35.3	And so I, because I have more money than time, I prefer to pay with money.
1:38.9	You can learn every platform on your own.
1:40.8	It just takes more time.
1:42.0	But for me, I'd rather shortcut that. And so the
1:44.3	next problem that comes up is that you're ignorant. So sure I had money but I didn't know who
	...

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