$100M Leads Audiobook Part 1 – Start Here Ep 586

Summary Notes


In "100 Million Dollar Leads," Alex Hormozi shares his journey from a struggling gym owner to a multimillionaire entrepreneur by mastering the art of acquiring leads through advertising. Hormozi emphasizes the importance of having an irresistible offer and the ability to let people know it exists, primarily through advertising, as the key to generating leads and, consequently, revenue. He candidly recounts the ups and downs of his business ventures, including the setbacks that nearly bankrupted him and the breakthroughs that led to his success. Hormozi's approach is to provide value first, building trust with entrepreneurs, and eventually investing in their businesses. His narrative is a testament to resilience, the power of advertising, and the transformative impact of obtaining quality leads. Hormozi's story serves as both an inspiration and a practical guide for entrepreneurs looking to escalate their lead generation and business growth.

Summary Notes

Introduction to "100 Million Dollar Leads"

  • The podcast episode is a compilation of multiple chapters from the audiobook "100 Million Dollar Leads."
  • This format is chosen to avoid overwhelming listeners with too many separate downloads.
  • Speaker B encourages listeners to subscribe to not miss future episodes.

The audiobook episode one podcast version. So this is multiple chapters put together into 130 minutes 1 minute episode.

This quote explains the structure of the podcast episode, which compiles several chapters of the audiobook into one extended episode for convenience.

Acknowledgments by Alex Hermosi

  • Alex Hermosi expresses gratitude to Trevor for his friendship and support.
  • He also thanks Layla for her positive impact on his life.

Thank you for your true friendship. Thank you for your tireless effort to extract the ideas out of my head and for your continued support in slaying the nihilism monster.

This quote reflects Hermosi's appreciation for Trevor's support and assistance in developing his ideas and combating negative thoughts.

Section One: Start Here

  • Selling is essential for making money, and one must sell an irresistible offer.
  • Leads are crucial for making strangers aware of your existence and products.
  • Advertising is a powerful tool to attract leads and can compensate for shortcomings in product or sales skills.
  • "100 Million Dollar Leads" builds upon Hermosi's first book and focuses on acquiring leads.

It's hard to be poor with leads banging down your door.

This quote emphasizes the importance of having a steady influx of leads to ensure financial stability.

The Importance of Advertising

  • Advertising is a key skill that allows for multiple chances to succeed in business.
  • The book promises to teach effective advertising methods.
  • Hermosi's track record includes a variety of industries and a significant return on advertising investment.

Advertising. The process of making known lets strangers know about the stuff you sell.

This quote defines advertising as the process that makes your products known to potential customers.

Hermosi's Personal Success and Approach

  • Alex Hermosi shares his personal success in advertising, leading to a substantial net worth.
  • He mentions that despite his achievements, his life remains largely unchanged.
  • Hermosi aims to transfer his advertising skills to the reader through the book.
  • The book is designed to be easily digestible, with a style akin to children's books.

This year, I surpassed $100 million in net worth at age 32.

This quote highlights Hermosi's financial success achieved through his advertising methods.

Pro Tips for Learning and Reading

  • Hermosi suggests reading and listening to the audiobook simultaneously for better retention.
  • He recommends finishing chapters without interruption for a sense of accomplishment.
  • These tips are offered to help readers who have short attention spans or get easily distracted.

Pro tip faster, deeper learning by reading and listening at the same time.

This quote provides a strategy for enhancing learning and retention by engaging multiple senses.

How I Got Here

  • Hermosi recounts a troubling moment with his partner, Layla, regarding their business.
  • They faced a significant issue with refunds from two gyms they launched.
  • The financial impact was severe, with refunds totaling more than their rent.

Refunds. All of them. From the two gyms we launched last month.

This quote sets the stage for a crisis in Hermosi's business journey, involving widespread customer refunds.

Customer Refund Crisis and Competitor's Unethical Offer

  • Alex Hermosi and his partner Leila are facing a significant customer refund issue.
  • A competing gym owner is poaching their customers by offering to take them for half the price.
  • This competitor's actions are not allowed under the agreement, but they are ignoring calls.
  • Leila reveals they are facing $150,000 in refunds, which means they cannot pay their staff.
  • The situation is dire as they cannot sell their way out of this crisis, and they are out of money.

"He didn't want to deal with all the new customers. That's insane, I said. She was still scrolling. Yeah, and the other gym owner told his new customers he would take them for half the price if they asked for refunds from us and then paid him instead."

The quote explains the immediate problem Alex and Leila are facing, where a competitor is offering a deal to their customers that directly undermines their business.

"It's 150 grand. The number hung in the air. We won't be able to pay my friends."

This quote highlights the financial impact of the crisis, quantifying the refund amount and its consequences on their ability to pay staff.

Alex's Successful Gym Business and Transition to Gym Launch

  • Alex had success with his gym business, scaling to five locations in three years.
  • His method of opening gyms at full capacity was highly effective and garnered attention.
  • After speaking at a conference, Alex realized he could monetize his gym launching method.
  • He created a business called Gym Launch, offering to fill gyms with members for free and keeping initial membership fees.
  • The business model was successful, leading to a high demand for his services.

"I scaled to five locations in only three years. My claim to fame was opening my gyms at full capacity on the first day."

The quote summarizes Alex's initial success in the gym industry, which laid the groundwork for his future business ventures.

"I could make some money doing this stuff. Three months later, an idea turns into a business."

This quote captures the moment of inspiration for Alex to turn his gym launching method into a scalable business model.

Partnership and Financial Betrayal

  • Alex decided to partner with gym owners to have a stake in the gyms he helped launch.
  • He entered a partnership where he would be responsible for member acquisition and his partner for staffing.
  • Alex invested all his money into a new partnership model, taking on all expenses and liabilities.
  • The partner betrayed Alex by accusing him of theft, taking all the money, and disappearing.
  • Alex learned that the partner had a history of fraud, which he initially dismissed.

"I could open up one to two gyms per month and own them all."

This quote reflects Alex's ambition and the potential he saw in the partnership model for expanding his business.

"The partner accused me of stealing and took the money as his share of the profits."

The quote describes the betrayal Alex experienced from his business partner, which resulted in a significant financial loss.

Recovery and the Creation of a New Business Model

  • Despite the setback, Alex and Leila persevered and continued with the Gym Launch model.
  • They incurred significant debt to keep the business afloat, launching several gyms and barely covering their costs.
  • Faced with the need to generate $150,000 in profit, Alex brainstormed ideas to overcome the financial challenge.
  • Alex proposed leveraging Leila's online fitness training experience to create a direct-to-consumer online training program.
  • The new model would cut out overhead costs and the need to deal with gym owners.

"The gym launch model is still good. Let's do more of those."

This quote shows Leila's support and belief in the original business model despite the recent failures and challenges.

"I think I have something, I said. Wait. For what? To come up with the 150 grand. What? My online training."

The quote outlines Alex's new business idea, which pivots from physical gym launches to an online fitness program, aiming to resolve their financial crisis.

Introduction to Alex Hermosi's Entrepreneurial Journey

  • Alex Hermosi shares his entrepreneurial journey starting with a critical financial situation.
  • The story begins with a pressing need to generate revenue to cover a debt of $150,000.
  • He describes a pivot from gym launches to online fitness sales and eventually selling gym launch systems.
  • Hermosi's narrative includes the serendipitous sale of his gym launch system to a desperate gym owner.
  • The successful pivot leads to significant revenue growth and the establishment of multiple businesses.

ing is one less day to come up with the money. She thought hard. All right, let's do it.

This quote reflects the urgency and the decisive moment where the decision to pivot was made, highlighting the critical turning point in Hermosi's journey.

Development of Online Fitness Sales

  • Alex Hermosi and his partner quickly transitioned to online fitness sales.
  • They achieved immediate success, generating $1,000 per day with minimal risk of refunds.
  • Despite the early success, they were still far from covering the $150,000 debt.

Within days, we were doing $1,000 per day in online fitness sales.

The quote emphasizes the swift success of the online fitness sales model, demonstrating the potential of the digital market.

Strategic Shift to Phone Sales and Licensing

  • Hermosi created a master plan to scale up sales by having salespeople work from home.
  • He projected that with eight salespeople, they could reach $8,000 per day.
  • The plan also involved canceling gym launches and selling the gym launch system directly to gym owners.

Okay, so the sales guys can stay home and sell this over the phone. If they do the same. Thousand per day. You are with eight guys. We should hit 8000 per day.

This quote outlines the strategic shift to phone sales, which was a key component of Hermosi's plan to scale up revenue.

The Unexpected Opportunity with a Gym Owner

  • An unexpected opportunity arose when a gym owner in Boise, Idaho, requested Hermosi's help despite being informed of the pivot away from gym launches.
  • The gym owner's desperation and belief in Hermosi's system led to an impromptu sale of the gym launch system for $6,000.

But I really need this right now. I just refinanced my house and maxed out all my credit cards to keep the gym afloat.

This quote captures the desperation of the gym owner, which opened the door for Hermosi's unexpected sales opportunity.

Scaling the Gym Launch System Sales

  • Following the first sale, Hermosi decided to offer the gym launch system to other gyms, increasing the price with each call.
  • All eight gyms planned for launch agreed to license the materials, resulting in $60,000 in one day.
  • This success proved that Hermosi had a valuable asset that could be monetized without the need for physical launches.

All eight gyms we planned to launch said yes to licensing the launch materials.

The quote shows the unanimous interest from gym owners, confirming the value proposition of Hermosi's gym launch system.

Revenue Growth and Business Expansion

  • The success of the gym launch system led to exponential revenue growth, reaching $6.82 million by the end of the year.
  • Hermosi's businesses expanded to include a supplement line and a software company.
  • Strategic sales and partnerships further increased the valuation and profitability of his ventures.

The next calendar year, we did $25.9 million in revenue and $17 million in profit.

This quote illustrates the explosive growth of Hermosi's business ventures following the successful pivot.

Importance of Lead Generation

  • Hermosi emphasizes the critical role that lead generation played in saving his business and reputation.
  • He attributes his ability to bounce back and find new opportunities to his mastery of generating leads.
  • Hermosi shares his commitment to teaching others the skill of lead generation.

Important disclaimer knowing how to get leads saved my business, my reputation, and likely my life.

The quote underscores the life-saving impact that lead generation had on Hermosi's entrepreneurial journey.

Conclusion and Gratitude

  • Alex Hermosi expresses gratitude for the support and attention he has received.
  • He emphasizes the value of the knowledge he intends to share with his audience.
  • Hermosi promises to provide meaningful work and a high return on the attention invested by his readers.

Thank you for allowing me to do work I find meaningful.

This quote conveys Hermosi's appreciation for the opportunity to do work that is both successful and fulfilling.

Mission of Acquisition.com

  • The mission is to make real business education accessible to everyone.
  • Sharing the podcast episodes and book chapters is encouraged to reach a wider audience.
  • Acquisition.com aims to spread valuable business insights and strategies.

"The mission of acquisition.com is to make real business education accessible to everyone."

This quote emphasizes the goal of making comprehensive business knowledge widely available, underscoring the importance of sharing resources for collective benefit.

The Problem of Lead Generation

  • The book addresses the issue of businesses not generating enough leads due to insufficient advertising.
  • A lack of leads results in potential customers being unaware of the business, leading to reduced revenue.
  • The solution provided is to increase lead generation, which in turn grows the business.

"You're not getting as many leads as you want because you're not advertising enough. Period."

Alex Hermosi identifies the direct correlation between advertising efforts and lead acquisition, highlighting a common problem faced by businesses.

Two Ways to Grow a Business

  • Increase the number of customers.
  • Make each customer more valuable.
  • The book focuses on the first aspect: getting more customers through improved lead generation.

"To make more money, you've got to grow your business. You can only grow your business in two ways. Number one, get more customers. Number two, make them worth more."

This quote breaks down business growth into two fundamental strategies, with the book concentrating on customer acquisition.

Lead Generation Strategies

  • The book demonstrates how to double a business by doubling leads.
  • It provides a framework for acquiring more, better, cheaper, and reliable leads from various sources.
  • The ultimate goal is to transform businesses into lead-generating machines, thereby increasing profitability.

"Bottom line, all else being equal, when you double your leads, you double your business."

Alex Hermosi explains the direct impact of increased leads on business growth, providing the rationale for the book's focus on lead generation.

Trust and Value Proposition

  • The book and accompanying courses are offered for free or at cost to build trust with entrepreneurs.
  • The aim is to provide more value than expensive courses or educational programs.
  • Trust is established by delivering high-quality, actionable content to entrepreneurs.

"In one word, trust. I give this book and the courses that come with it for free or at cost in the hopes of earning your trust."

Alex Hermosi discusses the strategy of offering valuable resources at little to no cost to establish a relationship of trust with the audience.

Target Audience

  • The book aims to assist two types of entrepreneurs: those making under $1 million and those making over $1 million in profit per year.
  • For the former, the goal is to help reach $1 million in profit by using the book's strategies.
  • For the latter, the opportunity is to invest in their businesses and accelerate growth.

"I want to provide value to two types of entrepreneurs. The first is under $1 million per year in profit."

Alex Hermosi outlines the two primary entrepreneur groups he seeks to help, detailing the support offered to each.

Investment and Business Model

  • The investment criteria of acquisition.com have evolved to focus on profitable, cash-flowing, and growing businesses.
  • The business model involves providing superior free products, earning trust, and then investing in profitable entrepreneurs.
  • The process aims to reverse-engineer success, relying on shared trust and proven models.

"My business model acquisition.com the business model is simple. Number one, provide better free products than the market's paid products."

Alex Hermosi describes the straightforward approach of his business model, emphasizing the delivery of high-quality free products to outperform paid alternatives in the market.

Results and Validation

  • The process has been validated by the significant revenue and profit growth of portfolio companies within the first 24 months.
  • Success is attributed to the application of proven business models and shared trust between partners.
  • The book's frameworks are tested and have shown to work effectively.

"Within the first twelve months, our average portfolio company, 1.8 x's revenue and 3.1 x's profits."

This quote provides concrete evidence of the success achieved by applying the strategies outlined, showcasing the potential for revenue and profit multiplication.

Acquisition.com's Mission and Impact

  • The mission extends beyond education to facilitate the creation of businesses that can solve global problems.
  • By sharing business frameworks, the goal is to empower entrepreneurs to build businesses that contribute to solving societal issues.

"I want to help create as many businesses as possible so we can solve as many problems as we can."

Alex Hermosi conveys the broader mission of fostering business creation as a means to address world challenges, highlighting the importance of entrepreneurial contribution.

Book's Structure and Progression

  • The book is structured to guide readers from the basics of acquiring their first lead to building a substantial lead generation system.
  • It progresses from simple skills to more complex ones, culminating in strategies that maximize lead generation efficiency.
  • The approach serves both beginners and experienced entrepreneurs by covering fundamental to advanced advertising techniques.

"We go from getting your first lead all the way to building 100 million dollar plus leads machine."

Alex Hermosi outlines the comprehensive journey the book takes readers on, from initial steps to creating a large-scale lead generation operation.

Upcoming Content Preview

  • The next section of the book will focus on engaging leads, selecting the right types of leads, and maximizing lead value.
  • The strategies discussed have been instrumental in enhancing the speaker's own businesses and lead generation capabilities.

"The next chunk is going to be how you can engage your leads, what types of leads are the ones to be going after, and ultimately how to ten x the amount that you get for the work that you put in."

The teaser for upcoming content sets expectations for actionable advice on lead engagement and optimization, promising significant returns on effort invested.

  • The book "100 Million Dollar Leads" is authored by Alex Hermosi.
  • Copyright for the book and audio production is held by Acquisition.com in the year 2023.

"This has been 100 Million Dollar Leads. Written by Alex Hermosi read by Alex Hermosi Copyright 2023 Acquisition.com Audio Production Copyright 2023 Acquisition.com media."

The quote provides a formal declaration of copyright for the book and its audio production, ensuring legal protection and proper attribution.

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