I Discovered The Easiest Million Dollar Business to Start in 2024
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- เผยแพร่เมื่อ 2 ต.ค. 2024
- Want to SCALE your business? Go here: www.acquisitio...
Want to START a business? Go here: skool.com/games
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 $200,000,000+ 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 Skool.com to help the many people who want to start a business online do so.
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
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.
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Want to SCALE your business? Go here: acquisition.com
Want to START a business? Go here: skool.com/games
Alex, I think you're losing touch with some of how us peasants of the 99% live. I think 2 to 3 million dollars would be fine with us. That's like 20 million to 30 million in a decade. Most of us are trying to figure out how to become millionaires first. Like you said, there's maybe a handful in the 100 million dollar category. And they are most likely not watching youtube videos on how to scale up.
Russell clickfunnel is doing the 2
Thank you for everything you do Alex, I found some nuggets in your two books. And there is one thing that bothers me: we delegate on this kind of business, we risk creating future competitors in the following day... You will have understood, loss of employee no more competitive since as you know this type of skill can be learned in 4 to 10 hours, I am thinking about delegating and creating another office but I am afraid. Can you tell me more about this to help me make a decision?
This is a genuine question. I’ll be shocked if @Alex actually replies, but My community essentially is used to build the relationships with the ICP whose businesses I would like to acquire. if it’s complementary like that to wear, I’m using essentially something like an ACP funnel find business owners that partner with. I’m wondering if this is just my way of rationalizing doing exactly what he said is wrong straddling the line.
Alex, I don't understand why you put Skool under the traditional business when is an asset-light (no brick and mortar) and is also an education business, the difference is that is not a 1-guy education biz but a marketplace model a bit like Masterclass. Can u clarify plz?
Instructions unclear this made me a billionaire
Lmao
*trillionaire
hate it when this happens...
Not watching this, im only interested in becoming a trillionaire
Edit: he changed the title, joke doesn't make sense now
The title was "This won't make you a billionaire, but it will make you millions"
lmao
2035:
Hormozi: This won't make you a quadrillionaire, but it could make you trillions
Three letters, my man, O P M. Go work in politics. 😂
Same
Hello man
😂
Excellent content. Love the new minimalist style without the distractions of glitzy post production. This video’s presentation and production style is the sweet spot. Keep it coming!
Millions is fine. I’ll take millions
I would be happy with 1/4 of a million. I could buy a house with no mortgage or borrowing, I would be very happy with that. 😂
@@jimh4072 same😭
😂
Almost guaranteed if make 1M/year you will get mocked by the real rich boys and wanna surpass them(or double down on the thing that made you so rich).
If you do it or not is your choice but the temptation will arise.
Here comes the kicker as soon as you have them, that's when you understand it's just numbers and a game and want to bring them up😂
I feel like I could do the left hand side first - coaching/info product business for the immediate cash flow, because I could effectively retire with 1-5 million dollars and live a fairly frugal life where I'm not required to clock in to a 9 to 5, once I've done that, I can start the right hand side kind of business and plan for a long term exit.
Hitting dislike so that the opps don't become billionaires
😂
Lol don't be a hater 😂😂
Big brain
😂😂😂
😂😂
"You got one ass"
words of wisdom
Time stamp?
@@NotHereToBeAverageYT 9:48
But 2 ass cheeks😂
You knew it was coming because of the beard and cap. That's his brand 😂
So true! Wealth has no shortcuts, here are ways to acquire it..🔥
the first step to gaining wealth is figuring-out your goals either on your own or with heIp of a financiaI pIanner and foIIowing through with InteIIigent pIans; you wiII gain financiaI growth in no time and enjoy the decision of managing your finance
I had decisions that grew my finances (gathered over 1M in 2yrs) with heIp of my financiaI pIanner. Living the dream, hoping to retire next year.g
Elizabeth Greenhunts
get to her with the name
THIS WON'T MAKE YOU A MILLIONAIRE, BUT IT COULD MAKE YOU A THOUSANDAIRE!
00:00 - The Easiest And Hardest Business To Make Millions
00:53 - Scaling And Solving Problems In Business
01:58 - The Limitations Of The Coaching Digital Business Model
03:01 - Scaling Your Business With A Team Of 10
03:57 - Challenges In The Fitness Industry
04:51 - The Challenges Of Replacing Yourself In A Company
05:37 - Business Opportunities For Skillful Beginners
06:41 - Scaling Your Business And Reaching The Next Level Of Leadership
07:46 - Expanding To Multiple Locations: The Challenges And Benefits
08:54 - The Deception Of Novelty
09:46 - The Importance Of Making Decisions And Commitment
10:50 - Comparing Traditional Business Vs. Digital Products Or Education Business
11:49 - Scaling And Building A Brand
12:43 - The Slow And Costly Path To Success
13:44 - The Economics Of Franchises Vs. Corporate Ownership
14:48 - The Success Of Panda Express
16:01 - Unlocking Value And Changing Goals
17:01 - Pros And Cons Of Business Expansion
18:04 - Transitioning From Traditional Business To Digital Education
19:01 - The Concept Of A Test Kitchen In The Education Business
20:02 - Testing With Representative Samples Of Different Markets And Skill Levels
20:55 - The Importance Of Focus
21:55 - Building An Asset For A Valuable Exit
22:50 - The Pros And Cons Of Path Choice
Thank you, @ChrisHunterSavesTheDay
@@PulpParadise You're welcome.
This saved me so much time
@@-AsL- 😁😁
@@domd6789 Glad it helped!
note for myself:
1. information business
- quickest way to 1-3 million
- less expenses
- hard to scale
2. traditional business
- slow curve
- more expenses
- becomes an asset that you can eventually sell
my choice is clear
Which is your choice
Start an OnlyFans? 🤔
@@cxa011500Considering most people on there statistically make less than $100 a month I would say hard pass 😂
@@cxa011500😂
@@cxa011500 what else?
I completed Column B (Family business exit). Now I'm over to Column A. Will report back with lessons.
Alex i hope you see this. I don't know if there is a script writer for these videos or is it just rants but the amount of value per sentence has skyrocketed recently good job to the team. Thank you for your time and effort.
This is one of the best videos 🤩 alex made... simple crisp and to the point ☝️!
This is the first video of alex hormozi that I watched. Im already loving the information. I subbed
Smart Farms is Such an amazing business 😍 we are proud to be a part of it.
Love the video Alex, but wouldn’t people want to learn more from someone who is actually doing the business they are teaching about?
This is exact concept that Alex Becker has made a video about couple years ago. The video is called Three Stages of wealth.
Clarity. Thank you.
I've been trying to build both at the same time. That's why I'm moving so slowly… that and lack of input, stemming from lack of focus.
I see now.
I never understood business before this man. What a man!
How much content can one man make…
Since we keep watching. He will keep making content. All his video is the same content adapted to to each model. That’s how you make $$$. Attention is key. Hook, show the problem, tell a story, show the solution, show you have the solution, show the resolution, make your offer, sell, rinse repeat.
@@ProMettythis guy knows what he's talking about ☝️
I doubt any of this is stuff that someone can go use the next day and do anything. It's like telling an audience how to do advanced calculus before they learned algebra. I'll bet that almost no one in this audience has the problem of how to get to 100 million dollars or scale to a billion. They probably haven't even made their first million and when I say million, I mean liquid, not owning a house that's worth a million.
@@kitsch590 All he talks about here is think longterm and ignore the shiny objects. Pretty useful for the young guns.
@@ProMetty google ads is not how you make $$$. these videos are practically lead magnets
7 billion experts on the planet and we all have something we can teach. Yeah right! Sounds like a gold mine 😂
Absolutely loving this new style of content you’re putting out to Alex
Great advice as always! In the midst of starting my online education business for learning guitar
“Some one who says no to more things is more focused”= gold 🔱
Thanks you for that.
Thank god Alex went back to the old school minimal production.
Excellent Mozi content again. Bravo. 😊
Alex drops videos like YoungBoy drops music. Nonstop, but it’s all fire.
If the digital business is not getting rich , why you are keep doing it?? Obvious contradiction.
So you just admit all your information is useless since you want to keep us in the business with you ...
You need to reconsider your logic and business to be honest
Gym launch made $30m in one year under Alex. I don’t understand why he says the cap is at $3m/year for e-learning
The cap isn’t that, but it’s MUCH harder to scale further than that and that’s why he says ”the cap”
you got it wrong, this is not a maximum limit, but it is like a bottleneck that is difficult to pass
@@Matheus.Fente. got it, thanks for the clarification!
got it, thanks for the clarification!
I am going to do both, just wait and see. 😑
Whoa. Articulate away Alex. Simple words into simple ideas. For simple minds. It’s just the truth.
Keep it up 👍
Great video! I figure you either need to sell to 1 customer for a million dollars OR sell to a million customers for one dollar each!
What about doing the 1 to 3 mill one and putting it into assets so you can come off the "tools" quicker?
If you think about it, an educational company can retain customers indefinitely in theory, as long as they have more knowledge than any one person can ever learn, need or discover in their lifetime.
So in a sense, the largest educational companies in the world are already worth billions and even trillions of dollars
They are Google, TH-cam, and future successful AI companies.
They might not be what you'd normally think as educational companies, but their core business model is entirely based around information and knowledge.
I have been grinding for over 12 years with my brick and mortar print and signage business, and a point where I am not sure how to scale it. We know the craft, I know so much about the business/entrepreneur aspect of it, but just don’t know how to scale it more!! Help/advise?!
If you do coaching but aren’t squared away yourself, you’re a fraud. I wish people would stop trying to coach others and actually make something out of themselves
He's a scammer
99.99% of people watching are like
“$1,000,000 per year of income I’d be totally happy with”
He actually made 2 to 3 million in 1 year sound like chump change or 200,000 a month.
Lol yup. I'd be cool with that. All my money problems would be handled allowing me to focus on building something more long term.
Instructions unclear. Alex is doing both... Do as he says, or do as he does?
Yep
This is basically Solopreneurship vs entrepreneurship
Love the mention of Alex Becker. Been following him since his small SEO days and he has just been killing it year after year.
Only heard about Becker 3-4 years ago when he made the switch from infomarketing to Hyros but his videos were incredibly valuable to me. One of the best out there!
Hormozi and Becker are good friends I heard.
With AI, software has become easy. I saw a Garry Tan video now that said someone was at $6m when they started YC & by the end of the batch they were at $30m. But then again I know software so AI just makes it all easy. Might not be the same case with others.
OMG - i wish I had this clear statement 4 years ago. Was there trying to switch. Worked exactly like Alex' CFO meant....
You said pick one, but you also said it takes a lot of time training a key man.
Should u just give up and not worry about the success of your previous business?
I haven’t even watched this yet, and I know it’s THE BEST BIRTHDAY GIFT EVER! Thank you, Alex & Leila for making my life so much better through your TH-cam channels, The Game podcast, and the Skool Games. I am eternally grateful. ❤🎉
Happy Birthday!!!!🎉
@@BrithneyWilliams214 Thank you!!
Happy Birthday, @laurenashleemessina!
@@PulpParadise Thanks so much!
No way,july 3th or 4th ? My bday is 4th too,so nice to see someone else in the same boat !!
Love your vids man
Great video as usual, I wonder what you think about how personal brand building plays into that. Services and saas are becoming more and more commodities, and personal brand building is out of a sudden an asset, or dare I say necessity, even in the trad. business.
Also, I don't believe education is easier. You need to be the person capable of teaching something that is valuable that you know how to do but your ICP doesn't.
Most people overestimate their skill to value ratio (but luckily this is upon the marketplace to decide).
I got this issue: Started selling on Amazon on the side, doing six figures a year in revenue. I realize that it's really cash intensive and I wanna get some cash flow in. Would it be advisable to start a Skool community on the side? I'm afraid, that I am in the "middle", but I also wanna eat.
I choose option 2. I want to build something, not just make money
yomi denzel actually runs both a digital course business and a software business
What if I don't have expertise and I still want to run educational business ?
first time seeing one off his videos. What I see is that he is saying common knowledge and some stuff that you find in books. But WITH a F-Bombs Clarity....
It's not "simple" but it super clear.
So the value is -> You are confused.
After his video -> You are not confused.
Not confused people act more.
Results -> more sales of whatever he is selling .
or I create a small business 2
then switch to business 1 to generate "cash flow , cash cow small of good enough"
then grow business 2 with the money from business 1
17:50 yep they stop business 1 ... yep I am in software. Software is VERY VERY HARD to start if you do not have full focus.. Mehhh stop that. don't even start.
Gracias Alex❤
At around 17 minutes of the video he was pointing out most of the business gurus like Iman, they had a digital business and switched to traditional
You can make it into a real school, just none of them do
One of the best videos out there. Ask someone who is on the right side of the graph, it's really tempting to jump to the left side and make quick cash flow
The beginning is confusing. Please edit it.
Great video but what about a physical product?
I just started a business selling a product I designed and had manufactured. 18 months of back and forth with manufacturers but my website is now live.
Marketing is definitely where I struggle. But in this video there is no mention about e-commerce for physical products. Do you have advice on something like this?
I can give more info I just didn't want to spam your TH-cam with links.
So, essentially, you are teaching us to do as you do, which is to ingest your own excrement for profit? Hmm...Does the corn come out the same?
🙏 thank you Alex. This is so well explained.
One more question. In which category is franchising or a license business? You have to educate, like the left group but you also build a brand like right. 🤷♀️
Thank you, Alex. Greetings from Uzbekistan :)
Alex Hormozi be like
Don't get into the education space even though that's where I am now after being business owner for many years. Stay in your business where you still need some help. Oh, by the way I sell books on building your business.
Genius move if I say so myself
Then get your business to xyz per year and I'll help you get everything bigger and take my slice
This man straddles the line for a living 😂 he’s makin sure nobody comes for his place
Lmao
Useful. Thanks.
Great timing for me, this really clears things up as to how I best push my bussiness for the goal I initially had when starting it
Well this just blew my mind and scared me to death, im just confused, I own a tutoring business where I teach other kids to succeed in an exam, currently its all online. Would this be considered a business that can only get up to around 3 mill per year, or is this an asset i can scale?
My family have a painting business for 34y, for a period of time they had 40+ employees but they reduced the company to 5 employees because they say it pays off more because they have less stress / work.. but i think with all those years of knowledge is a waste not grow the company any advices to make them change their view? They are the type of people that "want" and feel the need to be the ones doing everything.
Focus, is the measure of the amount of thins you say not to. Someone who says no to more thins is more focus than someone who says yes to more stuff.
There's lots of guys out there saying course and content is essentially dead now. Flooded and no one buys courses much these days and completion rate is around 6%.
I'd love to revivie my course but I was finding it was costing $200 in ads to sell a $99 course.
You need to build a fanbase giving content for free (yt, x, newsletter) and use that. No one is buying a course off a name they've never heard of via a Google ad unless it's $20 rather than the 997 course they wanted from their fave influencer
Can you make a video about how to use Skool to grow a local service business ??
I really would like to see a breakdown of the profitability of James and the model of gym membership at Sarasota because no one is talking about is the slightly scammy aspect of gyminness where actually it’s the people who go to Jim’s sort of scam themselves. Yes, there are hard-core gym rats out there… Probably not more than ever… And that’s a very good thing. But you know the model of running a gym is that you have many more members that actually show up… You’re actually always overbooked and counting on the fact that most of the people are gonna show up and they’re gonna be too lazy to cancel their memberships and lose the pride of membership… It’s like me and my Costco membership.
Game as always... Thank you
Gym Launch was a education business or a traditional business ?
It was a traditional business but then he changed to a education business. But all his companies after gym launch has been traditional ones. Because when he did gym launch bro did not know as much as he dose now
$100 Money Models
Open a trillion worth business
Get married
There you go
2 million dollars once is enough to retire off of for a lot of people
Well-done boss. You did a great job.
Thank you so much for making this video
11:11 P is basically the left bussiness, 2 to 10 yars to make 1 milly though. (Left one is coaching, right one is enterpirse)
🤯 The Easiest Million-Dollar Business (That You’ll Never Scale Past $10 Million)
One thing I've determined, is that I don't want to start a course education business. I'll listen to your other content. :)
I wouldn't be surprised if a info business arounfd 5M makes more NET revenue thana 30M brick and mortar business.
Oof. Gut punch. We’re sputtering out around 2m a year in online education business for all these reasons.
Alex you're looking a lot skinnier man..... you good 😅
God bless you...
What about adding an online service aspect to your Brick & Mortar business ? I think it will work well specially in Gym/PT service space business as they go hand and hand together.
Education businesses are not easy to sell because there are too many doing it.
That smart title .. l can understand
When one is managing million dollar companies he doesn't have the time to do youtube videos, unless youtube is the main revenue source... hum!
Let’s go!
Do both
What if you are on the Right side, but creating content on tracking it and build an audience which then you could sell them something which would put me on the left side, how would someone go about that?
I’m confused, don’t you do both, which is what the opposite of what you’re telling others to do?
You may be good at executing business but wow, you really stink at teaching it to others. I'm halfway through this video and I have no idea what you're talking about.
Sound like a you problem
@@PGproductionsHD It's a me *opinion*! Thanks for sharing yours!
I needed this making a TikTok Shop masterclass
would you say a done for you b2b service business would fall on the left side of the spectrum?
He practices what he preachs. High volume. Hundreds of videos will come and fast
Alex thank you for this. You saved me a lot of time and painful mistakes, yet again.
حلم 💭 حلم 💭 حلم 💭 حلم 💭 حلم 💭 حلم 💭 حلم 💭 حلم 💭 حلم 💭 حلم 💭 حلم 💭
But aren’t you currently doing both ?