YouSaid · the spoken record

Alex Hormozi

lines on the record: 223
first: 2025-02-13
most recent: 2025-02-13
sittings or episodes: 1
sources: podcast

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“So there are two types of questions that you shouldn't ask. Questions that can be solved with a spreadsheet and questions that can be solved with testing. And so fundamentally, the outside advice that you get on something that can be solved with math, just solve with math. And I would say like 30% of the questions that I get are like, should I sell this one or this one? And I'm like, okay, well, what's lifetime value of this product and what's lifetime value of that product? Okay, what's cost to acquire for this customer? What's cost to acquire for that customer? Okay, this is a math problem. You have way higher LTV attack ratio here, allocate resources here. But that's a math problem. Anyone can just do that math. For the testing one, I love this. So like the Leeds book, I didn't know what to name it. So it's about advertising. So I ran story tests for like a week or two, just saying $100 million promotions, $100 million advertising, and then advertising one. It's like $100 million advertising, $100 million marketing. Okay, and then advertising wins. I'm like, okay, $100 million advertising, $100 million leads, leads wins. Leeds keeps winning. Okay, that's the title. And then I did the same thing for the cover. I did the same.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“That's all it means. We have unlimited opportunities that we can allocate things towards, but we have limited resources. And so how do we prioritize those unlimited opportunities against those limited resources? That is fundamentally what strategy is. And that's another way of just saying we prioritize.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Don't take the stars that are making the one thing work and then push them on the other thing. You have to find the people who can build this other. Otherwise, you're going to sacrifice the core. Because all of a sudden it's like, oh God, well, now we're totally screwed because now we're not getting customers from our existing thing. And we haven't figured out the new thing yet. And so this is fundamentally where I see the CEO role is like you want to eventually become the flex player, which is that you can parachute in to a specific division or department that's solving a complex issue and then you have the benefit that you have as CEO or founder is that you have decision making power and you have the ability to allocate resources and immediately say yes to things. And that's why, and to be fair, it's unfair to your team to say why can't they do things as fast as me? Well, because you can write the checks and because you can say yes. You don't need to check with a committee. You don't need to run it up the flagpole. It's just you saying, do this, do that, don't worry about that. I'm telling you you can stay late for this meeting. This is more important. And so strategy is just a fancy word that people say when they mean prior.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“By the time you get there. And so if you notice, if we noticed, for example, that YouTube becomes like legacy television and viewership starts dropping and it becomes this new VR, whatever, right? At some point, we're going to have to look and be like, we need to take 10%, 20% of our profit every year and start building out this new team. We're going to continue.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“When you're looking at allocation of resources, let's say we're now fast forwarding a little bit into a company that has profit that they can do stuff with, part of the reinvestment is insurance for the future. And so every business has three strategic buckets that it has to allocate its resources into. Number one is how do we get more customers? Like if we get more customers, the company grows, period. Number two, how do we increase lifetime gross profit per customer? So if we got the same amount of customers, but we made all the customers worth more, we would also grow. Bucket three is how do we decrease risk, aka how do we increase the likelihood that the first two things don't stop happening? And so those are the three buckets. And so when you look at that 70, 2010, the 70 for the most part is usually going to be directed towards get more customers, make them worth more, and the better also ladders up to that. The risk factor is usually going to be the new thing that you're going to do to ensure your future is going to be.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And so the brand that we have is way larger because we do so much more than you do. And that's, it's people can't fathom the idea that someone works two times, five times, ten times, a thousand times more output than they are doing, but it is usually the reality of why they are getting a thousand times more than you're getting. And fundamentally, this is the concept of leverage, which is that you get more for what you put in. In the beginning, you're the one doing the flyers. Then you get leverage because then you make enough from those flyers that you can look at your time setting and be like, okay, I can pay two guys to do these flyers and I can get eight hours back. That would be amazing. But now you've got two guys doing flyers, which is still double what you were doing. Now you have double the revenue that's coming in. You're like, okay, should I hire more guys? That's more, or should I do something better? Should I change my flyer up? Should I change the offer on the flyer? That would be better. Or should I start Facebook ads? Well, the new, which would be Facebook ads, is the 10% thing.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“If you're not sure where your sales come from and you get one sale here and then two weeks later you get another sale and it feels sporadic it feels volatile. Well there is a certain amount of advertising activity that is occurring over that period of time. And we know that a month passes and you get one to two sales. And so the companies that are in your space that are doing one to two sales a day take what you're doing in a month and they do that every day. And I know that you can get this and I want to put this in context here. I hear I would like to build a personal brand and I say cool and then I ask how much country are you putting out and they say, you know, I put out one or two pieces a week. And I think that's amazing for context, for anyone who's listening to this, we put out 450 pieces a week.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And so over a 30 day period, he would be putting out $150,000 and over a 30-day period, I put out 300. And so he was in a very real way doing whatever the math is there, but like 300 times whatever, I don't know, a lot more 500 times the math, sorry, 500 times the flyers that I was. And of course, he was getting a better result. And so one of the fundamental misconceptions of small businesses is that they mistake low volume for volatility, meaning.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“The first thing you do is you do more. And for most small businesses, they're doing so little and think they're doing so much. And it's a huge gap in understanding. And so I'll tell this story that's probably the easiest way to explain it, which is when I had my first gym, I called up a mentor. He had 20 locations. I said, how do you advertise? He said, I use flyers. I said, okay. So I put 300 flyers out. It didn't work. I called him back. I was upset. I said, WTF, he said, slow down. What was your test size? And I said, What do you mean? He's like, well, your test size. So like, I mean, the 300 was the only amount that you put out. I was like, well, yeah. He's like, well, our test size is 5,000 flyers. And then once we have a winner, then we do 5,000 every day in terms of flyers that they put on cars to get people in the get people in.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And I think that it's important. So, you know, Google has their, you know, I think Sergei solved this mathematically, but I think they called it 70-2010. So 70% of resources get allocated to the core business. Do more of what we're currently doing. 20% goes to adjacent businesses. So things that are high likelihood success that are one step removed from the existing core business. And then 10% goes to moonshots, totally like off the path, like let's just see maybe we'll get a hundred extra x return. We probably will lose on most of these. And he proved it with math. He's smarter than I am. But fundamentally, that is the concept of more better new. And so that's one of the chapters in the Leeds book, which is, okay, now that you have the core four, right? These are the four things that you can do. You can post content, you can run ads, you can do outreach to strangers, you can do outreach to the people you know. There's the four things any person can do to advertise.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And you can find a rhinoceros to get the horn, and you can find some fireflies to give you the twinkles. And so you may not hire one person who has all of these things, but you can hire three. And then those three together can potentially do everything that you're doing better because it's all they're doing with all of their time. And breaking it up into basically understanding that you're not going to find that unicorn, but you just break it into pieces and then you can partition it out to people who can just do those parts makes it a lot more manageable from an emotional level to think like I'm never going to find this. Of course you're not. And that's okay because you can find solve for parts of our calendar. And fundamentally when you buy back the time. You can then do what you're like basically take the next step in the business.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“If I wanted to, let's say you're a unicorn, so we can imagine this mythical unicorn. I've got this white horse, got the horn, tail, everything, and the little pixie flies for the magic that's around it. Okay. You probably won't find a unicorn, but you can find a white horse.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“You're trading your time for. And that's like at the most foundational level, that is all we're doing. And so to take this as a hypothetical, Your business doesn't need you. Right now, you spend whatever hours you do work Now you own the business, and whatever you have to pay them you take out of the profit and everything else is now distributions that you own as an owner. That's it. Now, the entrepreneur who's mission driven then stacks their plate with even more things that they need to do, and then just continues that process over and over again. Now, this is the part where the pushback comes, which is no one can do what I can do. And I want to say you're right and.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“If I had 40% of my time back, I could double this business, and that would be worth significantly more than what I'd pay this person. And then you look at the next 15% of your time, and you're like, okay, is this something that I can give to somebody else? Can I push this down? Can I create some process around this that can correct it? Or do I need to keep eating it for a little bit until it's enough that it's a full-time role? And so fundamentally, I see the entrepreneur as the many-headed fractionalist that you continue to pull things under your plate until you have enough that you can ship it out to somebody else full time. And being aware of, again, the one resources we have, which is time, how we're allocating it so we get the highest return. And so if you look at the stack of time as an entrepreneur, we are always getting paid for our time, kind of the premise of the whole talk here, is that we trade our time for dollars. And so we always, the whole process of entrepreneurship is continuing to trade up what”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Do it for the one week, okay? And so what happens is you'll do it for a whole week, and then what the second step of this is you'll look at that and you'll say, okay, wow, I didn't know that 40% of my time is dealing with this thing and I can hire a role to handle 40% of my time for this amount of money.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“I want to do my best shot at operationalizing what you just said for someone who's listening. When we encounter this issue, we have a specific process that we go through. And so we tell the founder, I want you to make a Google Sheet, really simple, and I want you to have the time slots from 5 a.m. to midnight, however long you work in 15 minute increments. And I want you to set a timer, easy timer, kitchen timer like for cooking for every 15 minutes. And every 15 minutes, I want you to, when it dings, I want you to write down what you did. One or two words doesn't take a lot. As soon as I say that, people are like, oh my God, I don't have time for this. I will promise you it will be the most productive week of your life because you will be aware of how you're spending your time. Every time I do this, I immediately think I should do this all the time and I don't. So just do it.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Not one thing, it's many small things that, when added together in aggregate, create the outsized returns. Sorry, that was a little pulpit there.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And it's because what you don't see is the many small clubs and the first club that he goes to and does a whole hour-long set and has like three moments that people laugh a lot about. And he's got like five minutes that are good. And the other 55 minutes basically suck. And so the next time he goes to a club, he takes those five minutes, puts them at the front, and then he tries all new material for the next 55 minutes. And he gets another five minutes. And he continues to repeat this process and put the new stuff at the front until eventually 60 minutes of uninterrupted laughing. And then people are like, oh my God, he's so talented. I can't believe that he can just stand up there and talk into a microphone and make everyone laugh. Cross age boundaries, cross cultural boundaries, cross all of the boundaries that you might imagine. How can he be so funny to everyone? That's how. How can that guy be so good at writing? Well, he looked at the stuff that he wrote. He found the best stuff, made it into the few things that he always does, and then kept writing. And that fundamentally is the process of learning anything.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Make a lot of content. I want to do a lot of customer success calls, whatever it is, you do a hundred of those, and then you see, what are the top 10% of these? Okay, what did these top 10% have different than the other 90? And then I say, okay, well, these ones had these three things that were different. Let's try and do those three things on the next hundred. And then because of the variety of life, there's going to be some new variables that exist, that you look at the top 10% of the next hundred. And you're like, okay. We did those three, but there's also two more things that happened in this 10 versus the other 90. Now let's do all five of those things. And over time, this is how you develop a checklist for making banger content and banger videos. And I'm sure like there's this clip David Prell talks about Chris Rock's creative process. And he says, how is it that you see Chris Rock at Madison Square Gardens? And it's just like 60 minutes of just fire. You're like, how is this guy so funny?”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And he was like, dude, we were killing it on infomercials, so TV. And he's like, we just, you know, we just, we really just have to crack YouTube. And I'm thinking to myself like, It's 2024. Like you needed to crack YouTube ten years ago. And he had the resources to do it. But it was just a different kind of hard. And so most of the hard is one, a level of uncertainty that goes into it and almost certain immediate failure because the first thing you're going to do will probably not work. And again, it's the iterations of when you get into the new domain, you have to transfer your generalized knowledge, which is that as an entrepreneur, I will know that this doesn't work probably because I only know four things about it and I need to know like 400. And so I will get my first shot and I need to get directionally correct and then just keep doing more of that. And so I gave the consulting way of learning kind of like a new space. But if you want to learn a new skill, the fastest way that I do it that's outside of courses or anything is tremendous volume of activity. So whether that's like I want to take a lot of sales calls, I want to do a lot of outreach.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“So either they get content at the level that they're at and they just don't strive for more. And sometimes they say it just wasn't worth the trade. And I respect that. If you're like, you know what, I'm at a million dollars a year and I don't want anymore. Fine. You won. Congratulations. Like you've won it life. But most of the times they don't really quit. They just stop trying. And then they just either coast or it just fizzles into nothingness. And that's just my experience of having, and I'm sure you've seen this, having gone through like cycles of entrepreneur. It's like seasons. It's like, oh yeah, I came in through even like in the media and influencer space, whatever. It's like there's a bunch of guys that 10 years ago, it's a different landscape now than it was 10 years ago. Some people adapted. Some of them were like, I don't like the, they just weren't willing to chew the new glass, which is how do I learn TikTok? How do I learn?”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“But I don't think that's where the hardship comes. I think the hardship is that at every level of business, there's new sacrifices that you didn't know you were going to have to make. Because if it was just, oh, I have to work long hours, there's tons of people work long hours in their business and don't grow. And it's usually because they're unwilling to have a hard conversation. It's a different currency, right? They have to take on risk. It's a different currency. They have to make some sort of bet, right? that they otherwise wouldn't have had to make. They have some sort of legal issue that they encounter. They have an employee who tries to sue them for some sort of mal whatever, right? All of a sudden you're like, wait, all of these things are happening and they happen on a regular basis and at each level you unlock new levels of glass that you get to true through. And so this is why most entrepreneurs, in my opinion, don't actually quit. They fizzle. So it's not a big bang. Usually it's they just stop seeking.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Staring out to the abyss in chewing glass. He said, because the staring out to the abyss component of it is just the fact that this may never work and you're almost facing existential risk at all times to the business. And the eating glass component is that you will, by nature of your role, get funneled the worst problems in the business and the problems that no one else can solve. So it's one, problems that people can't solve. Two, the worst ones, or that they don't want to solve and they suck. And so you basically become a filter for the worst things. And that's why it feels like a fire every single day in the business because you're the only one who can make the tough call because no one else wants to choose between these two impossible choices. And you're like, why is it so hard? And the thing is, is that it literally never stops being hard. It's that the currency that you pay for and the hardness changes. And so, you know, a lot of people have this envisionment of like the rocky cutscene of like it must be hard for business.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And this, by the way, ladies and gentlemen, is why entrepreneurs get outsized returns is because we take on outside risk. And so this is the job, is that we have to be willing to make impossible choices. And the vast majority of choices for entrepreneurs in the business are impossible choices between two relatively bad scenarios. Because the rest of the choices don't even feel like choices because they're obvious. Of course we should carry it faster. Of course, we should follow up more. Of course, we should try and onboard faster. Okay, all of these things are the obvious ones. But when you have... I'm trying to think of the ones I'm not sure. Almost all the decisions that you get stuck with in Elon says this really beautifully. He says, A business is like”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Let's say one million for simple math. If you have a million dollar business, let's say that you have 20% margins. So that means you're making $200,000 a year in profit. For you to get an A player, it's probably going to cost you 100% of your profit to get that A player. And so you'll have what appears to be an impossible choice. You'll have, do I sacrifice basically 100% of my profit to bring this person in? Or do I work another six hours a day to do the job that this person is doing? Both paths work. Both are painful and risky because the overworking yourself thing, you can get yourself through that hump, and then now you're at maybe three or four million and that 20% is 800. You can spend 200, you still have cash flow, you can still live. The downside for the picking the person path is that what if you pick wrong?”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Of the dollars that you're going to make that you're not making yet because you haven't done it yet. And so Pin in that. Back to the people. I think the hardest time we call this the swamp at acquisition.com, but it's usually between like one and three million is the swamp. And I think there's a numbers reason for why it's such a painful period for entrepreneurs.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“What does it cost to hire one person whose only job is to just call the leads? Now I recently talked to a restoration company did water damage for homes when they got hit by storms, and he told me he said he was converting 55% of his leads, not calls, leads. And I was like, how on earth are you doing this? And I was like, well, how many leads a day do you get? He said, two or three. I was like, okay, so what's the process? He was like, oh, it's really simple. My aunt, I pay her sixty thousand dollars a year and she has only one job. She has no responsibility in the company besides the moment a lead comes in, you stop having sex with your husband, you stop, you stop, you stop cooking, you stop loving your child, and you immediately call the lead. That's the only responsibility. She just has to make three calls a day at the moment the leads come in and keep pace her $60,000, and that brings in millions of dollars of revenue. So you're not going to pay for it out of the dollars you have now. You're going to pay for it.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Something as simple as calling your leads. So there's tons of research that suggests that you can four or five X your conversion of leads by calling them within 60 seconds of them opting in for any product you have. If you have all of these priorities that you have across the company, Does any of them have the high likelihood of four or five Xing your business immediately with very low cost of doing so, less so than just calling the leads within sixty seconds? If the answer is no, then by God, why are you not calling all your leads within sixty seconds? The Fob question would be like, well, I don't have enough people to call our leads within sixty seconds. So then we'd say, okay, what is forex the revenue of your company worth?”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Number three, it would happen faster because you would have more barrels that were firing concurrently moving things forward. And those pieces when put together, you have to then ask yourself from an opportunity cost perspective, what other activity could I be doing that would have the possibility of tenaxing my company, doing it faster, and increasing the enterprise value multiple? That's not that. And if you can't find one, then it means you're working on the wrong stuff. And I think that is one of those great litmus tests of like, if I can find something, and I'll give you a really simple one that's not human, the talent based here.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And it's really, and so as a mental process for anybody who does have a business right now and has some employees, if you like everybody right now, you probably have some version of your A player because every business has at least one, hopefully, right, besides you. Imagine your business. Would you make? Would you double? Would you ten X? Would you fifty X? And sometimes you realize you're like, no, I think I would actually 10X. And so if that were the case, one, not only would you 10x the company, number two, the value of the company would more than 10x because it would no longer be, it would be significantly less reliant on you and it would be more reliant on the team that you've built.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“The thing is that it's just like money won't make you happy. One of those things that every founder has to figure out for themselves. But the thing is, is, and I've had obviously a bunch of conversations around this, but like. What you think is an A player today is not what you will think an A player is in five years. And so I think one of the hardest mental hacks around this is trying to project yourself into the future into the size business that you want to have and say who would be an A player at that size and scale. And then coming back to the present and saying, how do I get them to work for me today?”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“And he said every time I, you know, I knew who I wanted. And then I would, he's like, you know, I would take some calls with other people and I would just be like, but they're not John. They're not John. And so he would just keep working on them and working on them and working on them until eventually they're like, you know what? Fine. They like give up. They're like, if this guy's this persistent, like, he probably will be a successful entrepreneur and he will take us there. And I think that like. People are the highest leverage thing that you can bring into the company outside of crazy technology.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Product And this goes back to the who. Which is if you at some point, if you want to have a really ridiculously successful company, it will require more lifetimes of expertise than you can live. And so then it becomes a recruiting game. Like very quickly, almost all business becomes recruiting. Just how do I mean if you listen to Zuck talk about it, you look to Elon talk about it, you listen to Steve Jobs talk about it. Steve would talk about how the best players that he had in the company, he would set aside like a year to 18 months to bring them in.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Wrong with the business. It's just what is the constraint that's holding us back? And then usually zooming into the constraint and realizing there's 20 things that are contributing to the outcome, not one. And that's where expertise, and you develop that expertise by trying and failing. And that's just the name of the game. And so I think you have to have an incredibly high tolerance for failure without internalizing it and feeling like you yourself are a failure as a result of failure.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“We have some belief that if people have more friends, that they will engage. And so they didn't, and here's the thing, like with the uncertainty, they couldn't prove it. He just was like, I feel like that's better than them not having friends. And so he said, all right, the new goal is 10 friends in 14 days. That's the goal. So we have to create the experience so that we can get it to introduce them to 10 people or connect them with 10 people they already know on the platform within 14 days. And as soon as that happened, then obviously Facebook took off or continued to grow. And so he wasn't like, oh, Facebook doesn't work anymore or social networks aren't going to be a thing. It's usually way smaller and way the adjustment you need to make is much more nuanced than what you originally expect. If the foundational principle of like cutting hair, mowing lawns, whatever, it's like this problem exists and I can charge a certain amount and make a profit on it, then there's nothing.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“The offer itself wasn't very compelling or it didn't have, it didn't like it was just this. Everyone's coming in and saying, yeah, yeah, I kind of want that, but this is actually my issue. We're not solving the core problem. So it's always in the details. It's always in the sifting through the many small things that you find the kernel that ends up fixing the business. I mean, I know that Facebook was trying to fix their virality issue and they were locked in a room for days trying to figure out how they could get more users to retain on the platform, right? People would sign up, but then they wouldn't do anything and then they'd drop out. And so finally, Zuck just said, okay.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Because everyone who's been on both sides of that understand, like the entrepreneurs got it because they're like, oh my God, I was that guy and all the investors get it because they're like, oh my God, I deal with this guy all the time. But actually what you just said with the many, many iterations that from your original idea until what actually happens is yet again one of those demonstrations of the difference between a beginner, an expert. A beginner has binary thinking. So they think this worked or didn't work. And if it didn't work, then I need a new idea rather than having the nuance thinking of a master or an expert or advanced person who says, what about this if I click into it? I break it into its component parts. What about this didn't work? Okay, it's not that meta ads don't work or advertising doesn't work. It's that we didn't nail the hook in our ad or that we didn't make our offer clear enough on the landing page or it was not congruent with the advertisement.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“So, two things. So, one is I had this tweet that went super viral, but it was like first time founder, hey, I need you to sign an NDA before I tell you my business idea. I know you've gotten. Third time founder. Here is everything I have. Here's all the documents. Here's all the projections. It's probably all wrong and this probably won't work. But I have a couple smart people and I think we'll be.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“That big success of quitting one thing and starting another, you need to immediately forget. And I think that fundamentally that is why so many entrepreneurs keep doing it is because the first time you do it, it's the biggest rush ever. You quit your job. You do the business and you get some first traction. And that first dollar that you make when the new business, it's like the best dollar ever, right? But it's such a strong reinforcer that what does it reinforce? It reinforces stopping what you're doing and starting something else. And so I think one of the fundamental errors entrepreneurship is that sometimes the jumping ship to start this thing is the lesson that you need to immediately unlearn because after that, you have to just stick with it for a very long period of time.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“For almost all of that five years, you quit your job because you don't want to work as hard as you are and you want to make more money. And as soon as you quit, you will realize that you are now going to work way harder than you were and you're going to make less money for an extended period of time. The one benefit is that you get to claim all responsibility for how little you make and how much you want. Because you're like, my boss is an idiot, and it's me But it's the truth. And I think that in some ways having that optimistic ignorance is actually one of the really redeeming traits of entrepreneurs and one of the really hard parts is that the biggest jump you have to make gets so immediately reinforced from the freedom you have from being able to chart your own path.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Think that's the part that it took me a very long time to figure out, and I think it takes a lot of entrepreneurs. Like, everyone messes around with a lot of stuff in the meeting because you just don't know what you're doing. And so in my experience, it takes about five years for most entrepreneurs that I know to just like find something that works. It's like takes about five years to figure out which way is north. And then it takes like another five years. And a lot of people, that's it. Like, they restart, they go off crash and burn. And it takes another five years to build something that can create generational wealth. So it's about a 10 year slug. And here's the really hard truth about it. If you have a job right now,”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Has a permutation of it that exists. You're a dry cleaner, fine. Well, cool. We'll build the model, and either we can license the model, we can franchise the model out, we can get outside investors, we can scale it nationally, we can do it. But the crazy goals are only crazy because people have crazy timelines. They're actually very sane goals if you extend the timeline out. If you have a true 10-year goal or a true 20-year goal, almost anything's accomplishable. I mean, almost every multi-billion dollar company is about, you know, they get, it's usually between like years six and ten when companies get to kind of like those big numbers. And most people who are listening to this are five years into entrepreneurship, but you're six months into the thing that you've been working on right now. And you keep restarting the clock for getting to year 10 every time you start over.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Location. And if we keep our costs down, we might be able to have an actual model that we could either invest our own capital or bring somebody else and take it national. All of these, like I have yet to find a business that can't get to $100 million a year.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“What happens is when we were talking about the levels earlier about like beating the bosses, so what happens is you know how to beat boss one through three of the game. And so then you just say, okay, well, I'm just going to start the game over and beat boss. This time it's going to be different. But then you just get to level three again and then you're stuck again. And so people just keep getting up to level three and new endeavors over and over again because they never learned how to get past that boss. And so you just have to confront the uncertainty of knowing that you don't know how to do it, but that you will figure it out if you keep doing enough repetitions. And that's where you talk to as many people as you can. You see what they said. You consolidate it all. And you say, I think this is the highest likely path. It might not work. But I do believe fundamentally that if we cut people's hair well and we do it for a long period of time, we will have a thriving business. And if we have a really good model from that thing, we might be able to open up another.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“So we don't need to make our lives more complex. Complexity will come with scale, I promise. And so just simply trying to do more of what you're already doing well is already hard enough. Don't add anything else. And so if you need to write some sort of commitment of like, I'm just going to stick with this, then do that.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“But it has to grow faster than your three to four of the thing that you're on right now. And I think that's that people will compare year zero to year zero, but not year four to year zero. And the thing is, is you actually, we have a linear life. And so it's an unfair but true comparison of the opportunity cost. And every exceptionally successful entrepreneur that I know has just stuck with one thing for such an inordinate amount of time. And I think there's a quote by, I want to say Shane Parrish. He said success is doing the obvious thing for an extraordinary period of time without believing that you're smarter than you are. And it's just like we know what we need to do.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“Because I was ADD. I was like, oh my, I don't want to leave money on the table. And I want to be so violent about this. You are always going to leave money on the table. That is the result of focus. But you're leaving a small amount of money on the table to pursue the much larger money that's on another table of just sticking with the thing that you're on right now. Because compounding, if I were to show a chart here, it's like if you're at year three of your thing and you want to think about moving to year zero of a new thing, you have to compare maybe year zero of a new thing grows faster.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“By infinite wisdom, right The biggest entrepreneurial mistakes I've made in my career have all come from splitting my attention. Every one of them, like every single one of them. Like I talked about how I had the e commerce business that I bolted onto my licensing company. I should not have done that. As soon as I did that, my revenue started slowing down in its growth. Why did you?”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“The normal economics of a business like if a real estate business exists, there are other people making money. There are hair salon businesses where people are making money. There are lawn mowing businesses where people are making money. You can make money in all of them. You just can't make money in all of them.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT
“It's conflating order. And so. We must do these things in order to get the outcome. We have to concentrate on only one thing in order to get the outsized return That spreading of attention, especially when you're newer in the entrepreneurial career, it's like you already don't know so many things. At the same time, and the fallacy of thinking is that I'm going to try all of them and see which one works. But none of them will work because you're waiting to see which one will work, because you can force, in my opinion, you can force one thing to work, provided I'm going to just assume basics like you're selling, you're not selling $5 bills for $4.”
2025-02-13 · The Diary of a CEO · The Man That Makes Millionaires: Turn $100 to $10k With This Step By Step Formula & Build An Audience From 0 Followers! Alex Hormozi · IDENTIFIED FROM THE TRANSCRIPT