This is How You Make 1 Billion Dollars... | Ep 450

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 18 October 2022

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

What does it take to own a billion dollars? Just money? Investments? Hard work? Today, Alex (@AlexHormozi) shares with us the truth behind becoming a billionaire, the misconceptions around it, and how thinking in magnitudes in order to reach this goal will help you in the long run.

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:

(2:15) - The first misunderstanding is that you don't make a billion dollars to become a billionaire. You own stuff that's worth a billion dollars to become a billionaire. Alex briefly shares what he used to think making 1 billion was all about

(5:13) - If you want to be a billionaire, you can’t side hustle your way through it. Making 1 billion means you are working full-time. Alex shares how 1 billion is realistically made (spoiler: it involves profit)

(7:41) - If you want to become a billionaire, you must own something worth 1 billion dollars. Also, you need to think in order of magnitude when it comes to wanting to become a billionaire. You have to reverse-engineer your perspective

(9:19) - In order to make $700 million a year, you would have to: think of opportunities that are not limited by time, serve a big marketplace, have very high gross margins that will allow you to scale, & think on a very long time horizon

(11:34) - Let’s break it down simply: You don’t make 1 Billion dollars, you own it. Alex shares with us the math behind this idea: “I just made $120 million off of a 15 million original investment.

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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.
0:04.6	The only ask that I can ever have are you guys that you help me spread the words.
0:07.8	We can not more entrepreneurs, make more money, feed their families,
0:10.9	make better products, and have better experiences for their employees and customers.
0:14.9	The only way we do that is if you can rate and review and share this podcast.
0:19.4	The single thing that I have to do is leave review.
0:21.9	I'll take you 10 seconds or one type of the thumb.
0:23.9	It would mean the absolute world to me.
0:25.2	More importantly, it may change the world of someone else.
0:28.2	The reason that a lot of the wealth in the world sits with financiers is because they can say,
0:32.0	hey man, just give me a billion dollars and I'll just make you 10% a year on it and they know how
0:37.4	to make 15% a year and they make that extra five on a billion and they take home 50 million
0:42.6	a year and they're like, works for me.
0:45.6	The wealthiest people in the world see business as a game.
0:47.9	This podcast, the game, is my attempt at documenting the lessons I've learned on my way to
0:51.3	building acquisition.com into a billion dollar portfolio. My hope is that you use the lessons
0:55.2	to bring your business and maybe someday soon partner with us to get to a hundred million
0:57.8	dollars and be on. I hope you share and enjoy.
1:01.2	So I was at dinner the other night with a business owner who's doing five million dollars a
1:04.4	year top line, about two million dollars a year in profit. And she was talking about how she was
1:09.0	thinking about moving to Puerto Rico. She went there at sucked. And now she was living in a higher
1:13.3	tax state. And she was like, I would live in California, but like I just don't want to pay the taxes
	...

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