540: Alex Hormozi - Creating Confidence, The Art of Selling, Marrying Well, Letting Go of The Need For Approval, Building a Profitable Business, & Never Skipping Dessert
Duration
58m
Broadcast on
13 Aug 2023
Audio Format
other
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Text Hawk to 66866 to become part of "Mindful Monday." Join 10's of thousands of your fellow learning leaders and receive a carefully curated email from me each Monday morning to help you start your week off right...
Alex Hormozi is an entrepreneur, investor, and author of 3 bestselling books $100M Offers, Leads, and Money Models. He's founded and exited 3 companies, the largest for $46.2M in 2021. He and his wife Leila are the managing partners of Acquisition.com - a portfolio of companies that generate in aggregate $200M per year. He also makes mistakes and candidly shares his painful lessons with other entrepreneurs. Today he publicly documents his lessons on his path from $100M net worth to $1B.
Confidence: "You don't become confident by shouting affirmations in the mirror, but by having a stack of undeniable proof that you are who you say you are. Outwork your self-doubt."
Work: "The work works on you more than you work on it."
For anyone debating whether to marry a partner. These 2 lenses were useful:
How have my stats changed since they entered my life? (wealth, health, time)
Would I go to war with them?
They flow from what Alex wants:
Growth
Hard goals
Document your life more. Otherwise, you'll forget the details. And the details are what make it worth remembering. (homework for life)
Alex shared a vulnerable story about not wanting to live anymore when he was 21. He had graduated from Vanderbilt in 3 years (manga cum laude), had a great consulting job, and was on his way up the corporate ladder. And he hated it. He was living his dad's dream, not his own. So he quit. And didn't call his dad until he was well on his way to California to start over.
"A leading indicator that someone is not an independent thinker is that they agree (or disagree) with every single point of a political party. Also applies to seeing no fault (or 100% fault) in particular leaders."
"Volume negates luck"
What makes a great sales professional:
Clear communication
Conviction
Be honest... And have a desire to help your customer
Life Lessons Alex wishes he had learned earlier:
Talk less, listen more… (He messed this up earlier in his career by talking too much)
The hardest respect to earn is one's own
If you want to control what people think, control what they say – "Equip people with simple language so that they can communicate what you do."
"You get more out of reading 1 book that's great 5 times, than out of reading 5 mediocre books." – "If your behavior doesn't change as a result of reading the book, then it means you've learned nothing."
You are going to die – 2 weeks after you die, most people will have forgotten about you.
Extraordinary accomplishments come from doing ordinary things for extraordinary periods of time.
If it's worth doing, it's worth doing well
Be willing to negotiate everything except for your values
Humility - Sacrifice for the group. Give more to the company. Give to the group.
Hormozi Law:
The longer you delay the ask, the bigger the ask you can make. The longer the runway, the bigger the plane that can take off.
"At your funeral, friends and family will argue over who gets what. People will want food to eat. The topic will shift from your life to their lives. They'll drive away thinking about their looming to-do list. Some people won't be able to make it because "something came up." A reminder of the heavy weight we place on things that matter little."
"There's no greater waste of time than justifying your actions to people who have a life you don't want."
"The easiest way to change behavior is to change your environment."
Alex's great-great-grandfather had 400 children.
"Never skip dessert."
"My life has never gotten worse by removing mediocre people."
How people perceive the information matters almost more than the information itself. The reason I'm so big on this evidence is because that's the frame that people consume your message in. If I have a book that says how to market a book and it has 10 reviews on Amazon, do I need to consume the book? No, I already know the book sucks because I have evidence that the book sucks. I have visual proof that everything you're saying is not true or that you aren't even doing it. I want people to have the evidence so that when they speak about something they can be confident about it. Welcome to The Learning Leaders Show presented by Insight Global. I am your host, Ryan Hawke. Thank you so much for being here. Text Hawke 266866 to become part of Mindful Monday. You, along with tens of thousands of other learning leaders from all over the world, will receive a carefully curated email from me each Monday morning to help you start your regolf right. You'll also receive details about how my book, The Pursuit of Excellence, will help you become a more effective leader. Text Hawke 266866 now on tonight's featured leader. Alex Hormozi is an entrepreneur, investor and author of three best-selling books. He's founded and exited three companies, the largest for $46 million in 2021. He and his wife Leila are the managing partners of acquisition.com, a portfolio of companies that generate in aggregate $200 million per year. Today, he publicly documents his mistakes made and lessons learned on his path to building a billion-dollar business on YouTube and social media. Alex is everywhere. During this conversation, we discuss how true confidence is actually built. Then why Alex didn't want to live anymore when he was just 21 years old despite a high-paying consulting job and how he overcame that really tumultuous time in his life. Then we discuss his philosophy on sales and what it takes to be great at it. This was a very wide-ranging, full of stories conversation that I think you're going to enjoy. Ladies and gentlemen, Alex Hormozi. Alex Hormozi, it's great to have you here in the Learning Leaders Show. Welcome, man. Nice to be here. I heard a stat and I just need to confirm if this is true, man. Your great, great grandfather had 400 children. Is that correct? That is correct. Wow. Can you share a little bit more about your background and where you come from and what your great grandfather did? Yes. He was from the Kajar dynasty, which was the one that preceded the Shah in Iran. He mind you, that was not with one woman, obviously. He had the means to support 400 kids. Good for him. Yes, I'm Iranian. He was one of the last Persian bros who was leading the place. Then he had a kid, one of those 400 and one of those 400 had 19 kids. One of those 19 kids was my grandfather. Then that guy had two kids. One of those was my dad and then there's me. I know you don't have children yet and I think that's still up in the air. Though you've made lots and lots of money, you do not want to give any of that to your potential future kids. Is that correct? Yeah. Why is that? Well, I didn't get anything from the Emperor of Kajar dynasty. I mean, why should they? No, I mean, I just think that on any, okay, so you played out like micro macro, right? From a macro perspective, you multiply out generations and like, it doesn't matter how much wealth you have, it's going to get spread in almost nothing, which is the situation I'm in with indirect correlation with that. And the other is on the micro level. I think wealth that is given is not a gift. I think it's a curse. And I think it ends up hurting more people than it does helping because like a lot of meaning in life comes from struggle and work and who would become in the face of stress and hardship. I mean, one of my favorite quotes is the work works on you more than you work on it. And so like to rob someone of the ability to have struggle in their life might rob them from becoming the person they ultimately should or would want to become. And so I think if I have the desire to have my kids become certain types of people, then I want to set up the condition so that they become that. If you have a kid, you don't want like, no one's like, man, I just want my kid to be rich. Like, no one thinks that. They want their kids to be good people. And so it's like, if you want kids to be good people, then set up the conditions that create a good person. And that doesn't come from easy times, not necessarily. Are you guys going to have kids? Don't know. I'm not yes, not no. Yeah. Just I mean, Laila's young. I'm 33. Like it's we got time. Yeah. I think it's just a fascinating way to view it. And I think it's a really mature way when it comes to because