Risk and Reward
Taking a leap of faith, Alex maxed out his credit card to fuel his business ambitions, despite facing significant challenges with payment processing. As he navigated the complexities of securing processors and managing fees, he ultimately turned a profit, highlighting the importance of resilience and strategic risk-taking in entrepreneurship. The journey from being broke to making a profit serves as a powerful reminder of the potential rewards that come from bold decisions.In this clip
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#337: You Can’t Lose If You DON’T Quit with Alex Hormozi Entrepreneur, Investor, & Philanthropist
Related Questions
Alex Hormozi on growing to $100,000 per month
How many years has Alex Hormozi spent in "high volume sales" after your calculations? He started his first gym when he was 22. Here is his own account: - 21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job. - 23: Left my fancy consulting job to start a business (a gym). - 24: Opened 5 gym locations. - 26: Closed down 6th gym. Lost everything. - 26: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time. - 26: In desperation, started licensing model as a hail mary. It worked. - 27: "Gym Launch" does $3M profit in the next 6 months. Then $17M profit in the next 12 months. - 28: Started Prestige Labs. $20M in the first year. - 29: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mm within 6 months. - 31: Sold 75% of UseAlan to a strategic buyer in an all-stock deal. - 31: Sold 66% of Gym Launch & Prestige Labs at a $46.2M valuation in an all-cash deal to American Pacific Group. (You can google it.) - 31: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit. - 32: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses. - 34: Became co-owner of https\://Skool.com to help the many people who want to start a business online do so.