$100M CEO: How I know who to trust...

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$100M CEO: How I know who to trust...

Alex Hormozi 16.02.2022 77 781 просмотров 3 776 лайков

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Download your free scaling roadmap here: https://www.acquisition.com/roadmap-yta178 The easiest business I can help you start (free trial): https://www.skool.com/hormozi Business owners: Want to scale faster? We provide in-person advisory for companies doing at least $1M per year: https://www.acquisition.com/workshop-yta178 If you're new to my channel, my name is Alex Hormozi. I'm the founder and managing partner of Acquisition.com. It's a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $250,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I'll give you some stuff you can google to verify below. How I got here… 21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job. 23 yrs old: Left my fancy consulting job to start a business (a gym). 24 yrs old: Opened 5 gym locations. 26 yrs old: Closed down 6th gym. Lost everything. 26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time. 26 yrs old: In desperation, started licensing model as a hail mary. It worked. 27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months. 28 yrs old: Started Prestige Labs. $20M the first year. 29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months. 31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal. 31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it) 31 yrs old: 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 yrs old: 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 yrs old: I became co-owner of https://Skool.com, which is a platform for people to build communities online, making a living doing what they love, with people like them. 36 yrs old: I did a $106M book launch selling 3.6M copies of my $100M Money Models book, in 72 hours, breaking the Guinness world record for the fastest selling non-fiction book of all time. Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos). To all the gladiators in the arena, we're all in the middle of writing our own stories. The worse the monsters, the more epic the story. You either get an epic outcome or an epic story. Both mean you win. Keep crushing. May your desires be greater than your obstacles. Never quit, Alex DISCLOSURE Information shared here is for educational purposes only. Individuals and business owners should evaluate their own business strategies, and identify any potential risks. The information shared here is not a guarantee of success. Your results may vary. Copyright © 2025.

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Intro

In this video, I'm going to walk you through the true competitive edge uh that our companies have had in outperforming other companies. And if you don't know who I am, um I'm a business investor. I own acquisition. com, which is a portfolio of companies that does about $85 million a year. All right. So, my name's Alexi. We recently actually just sold a 66% stake in two of our portfolio companies for at a $46. 2 million valuation. So, I don't sell any courses, any masterminds, any coaching programs, any mentorships. I make these videos because I had a lot of pain coming up in learning these things. And I hope that my pain is not in vain. And uh I like it because it rhymes, too. What I want to show you is probably one of the most important questions that you have to answer that will ultimately inform your ability to compete within the marketplace. There are kind of two schools of thought

Brain vs Heart

around business, right? You've got the kind of brain side. There's my brain. And then you've got kind of the heart side of business. And the hard side is typically ignored because this one is very quantifiable and this one is not. But the thing is that I would make the argument and Leila and I would both make the argument that this side even though it may sound touchyfey is actually the more important side. And I'll give you a couple of examples before I give you some tactics around this. So when you've seen like remember the Titans or when you see uh a new coach come into a football team, the actual strategy of the football game hasn't fundamentally changed. The rules of the game are the same and typically the strategy of the team doesn't overarchingly change either. they just actually do it better. And so the doing it better and the higher output from each person a lot of times is not like 20% more. you can get two times, four times, eight times more out of the same people because they believe in what they are doing. And so the thing is that they may that might sound like one of these motivational videos of like you have to watch Remember the Titans together and then everyone's kumbaya, but there's actually the real conversations that have to occur in order to make the business grow. And so there's lots of core questions that inform the [snorts] the heart decisions of the company. And so I want to focus today on just one of them, right? And so I'll give you an example of some of them. So it's like why do we exist? That is a very important question that you have to answer and it has to be answered well. How do we behave? What are our values is an example of a question that matters a lot. Who is in charge right during what decisions? Who does what? Those are all important questions. But the one I want to focus on is the second one that I mentioned, which is how do we behave?

How do we behave

The reason that this is so important is that it's one thing to know where you're going, but it's another thing to know how you're going to get there. And so, this is just as true in business partnerships and marriage in terms of what you want uh to have happen and how you want to get there um as it is in business. Okay? And so what I want to do is actually just walk you through the three values that we have at acquisition. com and why we believe them. And so from an overarching perspective, the way to come to values um is to look at what are the non-negotiables. Okay? And so what I mean by that is and every company is different because the core thing about values is that they have to be things that are true and innate to you, right? Like for example at Southwest uh have fun is one of their core values. And if someone does not want to have fun or does not believe in the processes that they do to have a good time, then that is a non-negotiable for them. That person cannot work at that company. It is a fireable offense. And so these are not aspirational. These are not things that you would like to have. These are things that are core to who you are as a person and as a team. All right? And so when you decide on these non-negotiables, they are by their very nature non-negotiable, which means that you hire based on these, you fire based on these, and these are the core spirit of the team. And some of the mistakes that I see when people make values is that one they don't draw the line in the sand. And so one of the core things about a value is that it has to you have to be able to say this is not this right? okay between justice and mercy we lean towards justice or we lean towards mercy. Which means you have to repel people with your values. All right? And so if your values do not repel people then they are not values they are platitudes. Okay? And so it's very important. The next thing is that when you're making your values, the values themselves need to be ideally said in words that you would normally say. So if you have little sayings inside of your community, then a lot of times those can become some of the values you have. So for example, at gym launch, one of our first portfolio companies, uh, speed is king. Do the boring work. These were different ways. I mean, we could just say work ethic, but that's not the way we would have said it. We could have said be fast or fast turnaround times, but speed is king was the way we would have said it. Okay? And so some of the things that I've learned with this is also you cannot have too many values. As in I'll say it differently, you can have too many values. You have to be very selective at the true core values of the company. All right? And so if you're, you know, between two, a lot of times you just have to chunk up uh and kind of get a broader value, but they become the core. And I think that what

What is 3

we have found is that three is the sweet spot. And that number has continued to distill down over time. But I think three is the amount that your human brain can comprehend as lenses to make a decision. Right? And the reason these values are so important is that when you scale the company, you have to scale decision-m which means the frame with which you duplicate the decision-m process, which is should I hire this person even though Alex is not involved in this. Do they align with the core values? And the more stringent the values, the easier it is to have a black and white example of I think this person needs two out of the three or one out of three, but we only accept three out of three. And I will tell you this as an additional point. If you have core values in the business, I would relay them to all aspects of your life. If you would not do business with someone for a decade, do them for a day. It's one of the nalisms that I like a lot. And so, if you wouldn't if you don't want to deal with this client for a decade, don't deal with them for a day. If you wouldn't deal with this employee for a decade, don't deal with them for a day. You have to and the extent to which you hold your line of intolerance around these truly non-negotiables will dictate the health of the organization. And if you make these non-negotiables and realize that there are people in your organization, in your client base that do not ascribe to these, then you must make the changes to fix it. And that is the pruning of the tree that will ultimately grow the tree. All right? These are the short-term pains for the long-term gains. All right? All right. So, what I want to do for the rest of this video is walk you through the three that we have that we look for in the entrepreneurs of the companies uh that that own the portfolio companies that we invest in uh that we look for internally in terms of the employees that we hire and grow onto our team. So, this is both internal and external for us and then finally what we hold ourselves to. All right. And so, these are the three for acquisition. com.

Unimpeachable character

Number one is unimpeachable character. And as we were coming up with these over time, we had like loyalty was something that was really important to us. Like absolute integrity long-term minded was something that was really important to us. And we were like we had all these words on the board and whatnot. But it was like what's the what's the through line on this? What's the thread that kind of weaves all these things together? And for us it was we just want to deal with people who have unimpeachable character. If someone has a wisp or an edge that just feels a little bit off, these are things that earlier in my career I would rationalize and be like, "But they have all these other things. " And the more seasoned I've gotten this, the more I just don't negotiate on it. It's like, if I don't feel like this person is unimpeachable character, I won't do business with them. And it's because if I wouldn't do it, and a great frame of this is like, would I do business with this person for a decade? No. Then I don't want to do business with them for a day. And so, here's three frames that you can look at that I like a lot, right? And this is a little story that I got from uh a

Seal vs Steel

friend of mine who was talking to somebody who was on Seal Team Six. And they were explaining the difference between people who were SEALs versus people who were on Seal Team Six, right? He said, "Listen, at this level, every single Naval SE Navy Seal would lay down their life for another guy. " He's like, "That's kind of the ticket of entry to just be a SEAL, right? " He's like, "But the people who are on team six," he's like, "We have other things that we have to look at, right? " You know, if someone has an ego, they're going to become he's like the hard problem is somebody who's who has an ego but is a really high performer because they become cancers on the team, right? And a lot of us have these people or have had these people in our companies and I can tell you they are such a cancer like you don't know the damage they are doing to your culture which is ultimately affecting the overall company performance. All right, but the first through line here for us and the easiest one is like if we see someone who has an ego then then we already know that they're not going to be receptive to feedback. They're going to point fingers. they're going to always think that their idea is best uh and they're gonna think they're better and ultimately we just don't want to do it with that type of person, right? But here's two questions that they asked uh in team sex that I really liked a lot. He says, "Not only can I trust this person with my life, he said, wife? Can I go and leave my wife with this guy for a month and expect nothing to happen? Can I expect no passing comments? no moves, no flirts, no no no stray looks because they have unimpeachable character. The second

Trust

one was, can I trust this person with my money? If I were to give this person way more money than they have ever had and say, I'm going to leave. I need you to hold on to this. I don't know when I'm going to be back, but I will be back for it. Can I wait a month? year? Can I wait a decade and expect for that money to be sitting in the same corner that I left it? And these are just questions that I ask when I'm looking at someone and thinking like, does this person have unimpeachable character? Under what conditions do I think I could put what hot water could I put this teaag in and see what's on the inside come out? When you're asking questions and for us, when we're asking questions on interviews for uh candidates for the company, but also when we're asking questions to the entrepreneurs, what we're looking for is not even their answer, but how they answer them to give us insight into their character. And so for us, unimpeachable character is the absolute foundation upon which everything we have is built. The second one is sincere cander. And the reason that this is so important is that we believe that you cannot make progress without feedback. And if you can't give feedback, then you cannot identify the deficits that exist in order to improve them. And so for us, having sincere cander is two aspects. One of them is having the self-awareness to accurately identify a situation and deliver the feedback that is good, but also to be on the other side of this and have the humility to receive feedback, not take it personally and to improve as a result, right? And so we look at this on the portfolio company side, the entrepreneurs that we invest in, and then also on the team side of the candidates that we choose to bring in. Do we think that this person can take feedback? Do we think this person has the intellectual wherewithal, the emotional awareness to give feedback in a way that is useful and constructive? Those are the types of things that really matter in an organization because when you have these unspoken things and these these wounds or these resentments, what happens is this space starts to fill up between people and then their communication becomes less effective. And fundamentally like running a company is based on how well you can communicate. It's clarity of communication. And so that is why this is so important for us as an investment company and also um in terms of the companies that we look into to

Competitive greatness

help grow. And so the third piece here is competitive greatness. And I think and we borrowed this from John Wooden because Leila and I are both huge fans of his which is are you at your best when your best is needed? The enjoyment of a hard challenge. That is how he defines it. But if you're thinking about this and this is how the value should stack up when you're looking at your own values which is how do we behave with this within your company. The three values should give you a vibe for the company overall. Like if you read these three things, you should think to yourself, okay, people with unimpeachable character, who have sincere cander, and competitive greatness. This should give you a vibe of the type of place that this might be. If you if I were to list off do the boring work, speed is king, have humility. Now, there might be some similarities there between these ones and uh and our gym launch one. Now, don't sugarcoat it, right? which is kind of a different version of sincere cander, a different flavor, same concept, right? Is that you should be able to read those values and say like, I think I get the vibe for this place. And you should also be able to say, I don't think this person will fit in. And so imagine you're interviewing someone and you're like, okay, I think this person can both give and receive

The 3 lenses

feedback, okay? And they can do that effectively, you know, like I think they're very solid people. I think they have unimpeachable character. When I think about the different um different things and stressors I would expose them to, I think that they would hold strong. But it's like, oo, I don't know if they're like really driving. ambitious. I don't know if they really want to like take the hill and do big [ __ ] right? Well, then, but they have two out of the three. I think they could still maybe fit for the role. It's like, no. If these are non-negotiables, then they are non-negotiables. And you have to continue to massage these until you get exactly the true core that gives you that triangle, the three lenses to look through. If you have 10 values, it's impossible to make a decision. It's it's also almost impossible to think through candidates. There's too many lenses. And so that is why we found three to be the sweet spot for us. And so and look at a different one. Let's say you've got somebody who's competitively great, super ambitious, super hard charging, right? Can accept and give feedback, but you don't think their character's there. Like you think if things got hard, they would revert to something different. Then that's somebody that you don't want on the team because things are going to be hard in the future. You that's a virtual guarantee that within business things will get hard. And so you're just predicting what's going to happen in the future and just avoiding the landmine. And so what I've also learned as a tangible side note is that a lot of times success in business is just making fewer mistakes. It's trying to avoid the dumb decisions, people that are going to become cancers in your company more than it's making very smart moves. A lot of times uh the level of activity continues to decrease as we've weathered and scaled our portfolio. But I think the skill with which we execute the things has improved because we are just more deliberate and we try. We still make plenty of mistakes, but we try to make fewer of the dumb ones over time. This video is for making the values within your business. What are the things that you stand for? What are the non-negotiables with your company? What are the things that you want all of your clients to adhere to? team to adhere to? And what are the lenses that we can use to truly draw a line in the sand and say, "This person does not fit in. " And if most people don't fit to the non-negotiables that you have, good. Most people shouldn't be in your company. All right. So, lots of love, Mosy Nation. If you're new, welcome. I make these videos because I went through a lot of pain and suffering to try and figure this stuff out. And I hope that pain is not in vain. Lots of people are broke. Don't want you to be one of them. Enjoy the next video. Back.

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