# Don't Start a Business Until You Watch This...

## Метаданные

- **Канал:** Alex Hormozi
- **YouTube:** https://www.youtube.com/watch?v=bSYfZdAE8Ks
- **Дата:** 04.02.2021
- **Длительность:** 15:49
- **Просмотры:** 120,529
- **Источник:** https://ekstraktznaniy.ru/video/16707

## Описание

Download your free scaling roadmap here: https://www.acquisition.com/roadmap-yta46
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-yta46

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: Close

## Транскрипт

### Segment 1 (00:00 - 05:00) []

What's going on everyone? Uh happy Sunday. This is uh coming from downtown Austin. Uh wanted to talk to you about one of the most profound belief and perspective shifts that I've had over the last few years. Um and I think 2020 was that year for me uh where I made one of the most profound internal shifts. And uh the shift has yielded me unbelievable amounts of decreases in anxiety uh for me and honestly just increases my increased my level of certainty. And I can understand why so many people fail to a much higher degree. And I think one of the biggest curses that I had earlier on in my career is that um you know within months I went from it's just everything kind of aligned for me. um mind you after 5 years of uh eating Uh but nonetheless things did align for me um and very rapidly went to from making not a lot of money to millions of dollars a year in profit um to my second year uh doing almost $20 million in profit. Uh and that that fundamentally I think ruined me in a lot of ways earlier on because I saw that as my benchmark. You know what I mean? I saw that as like if it's if a business is not doing this, then it's failing. We're doing something wrong. And I think that it was a really poisonous viewpoint for me or toxic viewpoint. And uh I want to share with you what what I've shifted to and what has been such a dramatic improvement in my life. And I think um my business. So when I look at investors and people who make a lot more money than me and people who have much bigger businesses than me, uh I see this common thread of looking at it from an investor's time horizon. And so I feel like in entrepreneurship everything is about tomorrow. Everything's about this week, everything's about this month and making payroll and all that. You know, you have all the day-to-day things, but you get so much you get so caught [clears throat] in the monthly goals and weekly goals that you forget to make the long-term investments that are important and not urgent. And when I look at the billionaires of the world and all of them are trying to build, you know, escape paths to Mars, to me, I see that um sure there's the cool factor, but the fact that they're all kind of thinking about this stuff just leads me to think that they're thinking on such a larger time horizon than the rest of humanity, which is probably one of the reasons that they're more successful. And uh one of the things to think about this is kind of fast versus inevitable. And I have tried to shift my perspective to wanting to do tasks and actions on a repeated basis that I know that if I repeat them over a long enough time horizon will lead me to inevitably accomplishing my goal. And so it what it does by shifting that way is I look at tasks, I look at projects, I look at initiatives in a very different light. I also am I mean I wasn't super affected by competition in general mentally because of other things but I think this has been probably the last nail on the coffin for me in terms of like well so and so is making more or whatever right the things that we do to compare ourselves if you remove the time horizon and think of uh not next year but maybe next decade right um I've been using five years because that is a timeline that I feel like I can wrap my head around in Israel for me um I had a mentor reach out to me and he was like and you know this guy sold his thing for three 3. 4 billion. Uh and he's like bro you need a hundredyear timeline and um I I took that in. I accept that. Uh but I it was not it's not real for me yet. And so five years is something that is real for me that I can believe in. And so uh what that does is if you think about time as an inevitable force that's going to move forward one way or another. Think about for a second how and this is for me. Do I see time as a threat? liability? Something that I'm always saying is working against me or is time an asset that is working for me? And I think this has been the single greatest shift in perspective for me is now seeing if I extend my time horizon, then time stops being a liability and a threat and becomes an asset. and how things compound over time now works to assist me rather than hinder me. And so I I'll give you a simple example. So uh I have never believed in SEO, right? Or really even inbound marketing. And I have had a major shift in perspective on this u probably in the last 12 months. And the reason for that is because you know if you your first 12 months of of doing you know SEO and I'm saying that as a general as a catch-all term really just any inbound marketing and that is not paid advertising that results in people because that's technically kind of still outbound right you're putting ads out there and then getting people to respond rather than basically pool-based marketing where you're putting you're creating a water hole for people to come towards right and so I've never really invested much thought into inbound stuff at all I mean the only

### Segment 2 (05:00 - 10:00) [5:00]

example of that is really this kind of vlog/podcast which I never did for uh for really any business purposes is just more for me to document my journey um but nonetheless uh thinking about this in terms of that perspective of and I I've been talking to people who were like oh yeah we have this you know it's taken us five years to build this asset but now this asset creates 3,000 applications a month for our for [snorts] our software or for our whatever right and I think to myself I'm like man, just building a machine that just consistently month over month creates more and more inbound uh interest is just wildly compelling to me. And so I think to myself, okay, sure, we're going to have our outbound things uh both outbound in terms of manual outbound with people, cold call, cold email, etc., you know, cold DM, but also we have our outbound with paid advertising across platforms. But the kind of the third piece of this is what can we quote invest in that if I did it over five years, I believe it would be unreasonable for me to not have built another channel that is reliable and sustainable and enduring. And so you'll [clears throat] probably see some more things from me in the next 12 months uh along that line uh because I think it's really awesome and I want to use compound growth to my advantage rather than as a hindrance rather than as something that I compare myself to and feel always inadequate. And so what I think that the shift from the CEO to investor mindset has helped me with is the stress that I put on myself uh for like quarterly goals and looking at someone else who might have started at the same time as me and is doing better than me because then I get to think [clears throat] to myself, okay, but we're not comparing ourselves now. We're comparing ourselves to what's going to happen in 20 years, right? Will their company still be here? and I'm trying to build something that endures, that lasts, that maybe even can be passed on to a future generation. And I don't think those were ever thoughts of mine when I was starting my entrepreneurial career and I wish they had been. And so I don't know where you're at right now, but maybe if you can take that perspective and think to yourself, what could I create that and what tasks should I do? what projects could I invest in that even if they don't pay off this quarter or next quarter or even the next 12 months I think that it would be inevitable that I would have a disproportionate payoff five years from now and obviously that begets the obvious you know the the single greatest constraint that most people have which is they can't do anything consistently but I believe I can do things consistently and I think that many of the people listening to this can do things consistently and so if you have that character trait already you've developed that discipline I feel like using that discipline to invest in things that going to create disproportionate returns is a good use of uh time right for us. And so I'll give you a real example around this. Uh we're looking at doing an initiative uh on the gym launch in our gym launch company uh related to just generating more you know inbound applications and whatnot. And I was talking to our GM about it and I was saying listen let's not think about that for like this quarter. Uh, I mean, we can start now, but let's not measure the ROI until, you know, next year. And I don't think I would ever have said something like that a year or two ago. I don't even think it would even be a thought. Um, but it's been wildly freeing because there's so much less pressure around initiatives and I think it actually improves the quality of the initiative and the execution of the team because they're not immediately being like, "Oh, it's been a week and it's not working, so we're failing. " Right? And so, um, let me give you another really good nugget that I've had recently around this, which is, um, rather than looking at week over week, month over month sales growth, instead I asked myself the question, what one thing if I tripled it in our company, what non-sales related, you know, what nonrevenue related thing that if I were to triple it, it would be unreasonable to believe that my company would not triple as well. And for me that was inbound qualified or I'm say inbound but just number of qualified applications generated. That was a metric that I was like okay sometimes when you're increasing the number of applications that are coming in uh you have a new salesperson or new sales team uh and their close rate is low. It happens right? It's part of scaling a business. But over a long enough time horizon, it would be unreasonable for me to believe that if I were to triple my number of applications, uh, I would not see, you know, a proportional increase in sales. And so, what's interesting to me is that if I can I've never actually thought about a leading indicator because I have leading indicators on churn, uh, which is like customer activation, and I talk about that in other stuff. Um, but I've never actually had a leading indicator on growth, which is fascinating to me that I've never had this, which is like hilarious. Um, but

### Segment 3 (10:00 - 15:00) [10:00]

actually measuring the number of sales accepted leads. And that is that's defined as a lead that the sales team accepts because they showed and are qualified, right? They are the type of person uh who we can serve uh you know, they have the size business that we work with, you know, and they showed up and they have interest, right? So that would be a salesqualified lead. And so trying to say I want to increase sales by 5% a month is a fine goal. The thing is that there are so many other variables that can affect it in a short time horizon like that. Whereas saying I want to increase our number of inbound applications by 5% per month is far more consistent and reasonable to do. And so if you thought about it like a line, right? If I incre I know that I can increase through consistent activity the number of inbound uh applications either through adding more people to outreach uh creating more channels for content um and then you know obviously there's the paid side which is you can add another platform etc right and so if I draw that line that is something I can consistently do and so when I'm thinking about growing my business and hitting a goal like tripling it right in the next five years and I think okay well Then let's take our sales qualif sales qualified leads, right? And let's draw that as our line and that's going to be our baseline, right? That's what we're going to focus all our attention on. The day-to-day activities around that, those are going to be like the stock market, right? They're going to be up and down, up and down. And I think most of us are looking at such small time horizons, it looks crazy. But if you look at it from an investor's perspective in terms of years or decades, then you can really see the truth. And the reason that a stock will go up over a decade is simply because of the true economic value that a company is providing, right? And so for me, a leading indicator of growth would be the number of interested inquiries that we get. And so that is actually going to be my primary predictive metric that I will be driving. Um because I know that of course we're going to change processes. Sure, we might change CRM, you know, we might change our funnel or our sales like all these things are small things. But if I can simply increase the number of qualified applications of people who want to for example grow their gym uh by 3x in the next 5 years then I can reasonably believe that I would be able to achieve it and thinking that way has just been amazing. And so uh that is what I'm dedicated to doing. And some of these smaller projects which for me were like well this thing isn't going to double our lead genen so I don't want to do it. I've really shifted my perspective on that. And so I'm now looking at uh reliable inflows that it's like, okay, well, I think this one thing can generate us 20 new clients a month. That's not huge for us, but it's it's noticeable. And so, okay, well then how, you know, how much does it take to invest in that? How long do we you know, and and let's start it. Let's start the snowball, right? And so that's one of the that's what I was talking to my GM about. And so we're actually going to do this initiative that I think will result in about 20 new clients a month. And it's going to take us time to get there, but I think it's going to be really uh valuable for us, right, over the long haul especially. And so let me just take a quick look at my notes real because I wanted to make sure um I'm not missing anything for you. Um uh yeah, I think that's um that's my biggest thing, right? That's pretty much my message for what my biggest perspective shift has been is thinking about a five-year time horizon, shifting from CEO to shareholder. Uh shift board member or adviser. Um and thinking about it over those time horizons. And I feel like if you can just make that change, I wish I could explain to you how much less stress I have because if you know the company goes up by a little bit or down one month over another month, it just doesn't affect me. like it doesn't affect my life in any way. And I feel like I had my ego so and this is actually the last point that I had in my notes which is my ego is just so much less impacted by the fluctuations of the business that it's just phenomenally increased my standard of living. Like I'm just really not that stressed about things, you know? I just can't even express it to you. And so anyways, this has been probably the biggest lesson of 2020 for me. Um, and obviously 2020 for us was uh um we our profit was cut in half. We did I think 13. 4 in profit last year and we did I think six this year. We're getting into final books but around that this year in profit which was technically my lowest year of profit in a while. And um but I can truthfully tell you it just really doesn't affect me because I know it's a momentary business disruption because of a pandemic that disproportionately affected my clients than many you know than many other industries. Um, and I don't think it would be unreasonable for me to believe that over the next three years, right, that we would not only recover but grow past where we were before. And

### Segment 4 (15:00 - 15:00) [15:00]

so in thinking about that, um, anyways, I just it's been it's just viewing time as an ally and not an ally or an asset, not a threat or a liability. And once you can when I can hitch my cart to something that is inevitable like the passing of time um then I feel like you're aligned with forces that will grow you without your permission. And so anyways I'll leave you with that. I hope you have an amazing day and keep being awesome. Catch you on the flip side. Bye. Heat.