DUI to $3M Ep 380

Alex Hermosi, owner of acquisition.com, shares a transformative journey from surviving a DUI car crash and financial instability to achieving $3 million in profits within a year. He recounts the stress of managing multiple businesses, including six gyms and several agencies, which led him to excessive drinking. After the accident, Hermosi sought an attention coach, who emphasized the importance of focus. This advice, coupled with the life-threatening incident, prompted Hermosi to make rapid, decisive changes, consolidating his efforts into gym launches. He ended partnerships and divested businesses, despite the difficulty of these decisions, to redirect his attention and resources. Hermosi's experience underscores the power of focused attention in entrepreneurship and the significance of making tough decisions to reclaim control and drive success.

• Alex Hormozi experienced a life-altering event with a DUI head-on collision while being financially unstable.
• At this time, Hormozi owned multiple gyms with various partnership arrangements and was involved in agency work for dental and chiropractic services.
• Hormozi was also engaged in in-person gym launches and turnarounds, leading to high levels of stress.
• To cope with the stress, Hormozi resorted to heavy drinking, which affected his daily functioning.

"Getting into a headon collision in a DUI and having basically no money to my name, to, you know, twelve months later having $3 million in profits, not knowing what to do with it."

This quote highlights the contrast between Hormozi's dire situation following the DUI and his rapid financial turnaround within a year.

"I had six gyms, two with one partner. I had three with another partner, and then I had one on my own."

Hormozi describes the complexity of his business ventures, emphasizing the numerous partnerships and the solitary gym he owned outright.

"I was so stressed that I was drinking, I mean, probably half a bottle every night, just to, honestly, not to get drunk, but just to not be stressed."

The quote reveals Hormozi's unhealthy coping mechanism for stress, which was excessive alcohol consumption.

• Hormozi sought help from an attention coach to manage his scattered focus and improve productivity.
• Despite working long hours, Hormozi's financial situation did not reflect his efforts due to being spread too thin.
• The advice to "aggregate your attention" and focus was pivotal in Hormozi's transformation.
• The DUI incident served as a wake-up call, leading to significant changes in Hormozi's life and business strategies.

"I ended up going to an attention coach. I know that sounds ridiculous, but I went to a coach to help me manage my attention."

Hormozi acknowledges the unconventional nature of seeking an attention coach but emphasizes its importance in his journey to manage focus better.

"You need to aggregate your attention. You need to focus. He's like, you're spread all over the place."

This quote reflects the core advice given by the attention coach, stressing the necessity of concentrated effort and attention.

"It wasn't until I drank so much that I ended up getting into a head on collision at 60 miles an hour on the highway."

The quote depicts the severity of Hormozi's crash and the extent of his drinking problem, which served as a turning point in his life.

• Hormozi's story is shared as a lesson for entrepreneurs on the importance of focus and attention management.
• The scale of decisions and challenges may vary, but the principles of concentrated effort apply at all levels.
• Hormozi's experience demonstrates that success can follow even after significant personal and professional setbacks.

"I don't know where you're at right now, and it doesn't really matter what the scale is of what the decisions are, because I've made decisions like this at multiple times in my life."

This quote offers encouragement and relatability, suggesting that the lessons Hormozi learned are widely applicable regardless of one's current situation.

"And so one of the things that I think us as entrepreneurs, we think about all the time is like, we're managing our time, we're trying to be productive."

Hormozi touches on a common concern among entrepreneurs about time management and productivity, indicating that these are universal challenges in the entrepreneurial journey.

• Alex Hormozi reflects on the importance of decision-making and its impact on stress levels.
• He shares a personal anecdote about how his failure to make decisions almost led to dire consequences.
• Hormozi emphasizes that he tends to make decisions when faced with extreme situations, such as his own mortality.
• He made a series of rapid decisions to focus his attention on one thing, which involved significant changes in his professional life.
• Hormozi describes the difficult conversations with partners as he exited multiple business ventures to concentrate on a single initiative, Gym Launch.

"your lack of making decisions is going to kill you. And I remember him saying that to me, and he was like, the reason you're stressed is because you have all these decisions that you know you should make and you're not making them."

This quote underscores the serious consequences of indecision and how it can lead to increased stress. Hormozi's friend warns him that not making decisions could have fatal repercussions, figuratively or literally.

"I wanted to make this because I wanted to talk about probably the second hardest decision I made in my life."

Hormozi introduces the topic of his podcast episode, which revolves around the theme of making tough decisions and the impact those decisions had on his life.

"I can't get myself to decide to do things unless I literally think I'm going to die."

The quote reflects Hormozi's personal realization that he requires extreme circumstances to prompt decision-making, a pattern he has noticed in his life.

"I called up the partner that I had the two agencies with, and I said, hey, I can't do this. I'm doing gym agency work where I'm flying out and doing turnarounds. I'm doing dental agency work. We're doing chiropractor agency where I was like, I can't do any of it. So I'm out."

Hormozi explains the decisive action he took to simplify his professional commitments, indicating a significant shift in his business focus and the end of several partnerships.

"I'm so afraid of letting these people down that I might die."

This quote illustrates the extreme pressure Hormozi felt regarding his professional obligations, which led to his fear of disappointing others potentially causing him harm.

• Hormozi reflects on the lessons learned from having tough conversations with his business partners.
• He acknowledges the fear associated with these conversations but also the relief and perspective that comes after making difficult decisions.
• The experience taught him that while the conversations are hard, they are not fatal, and they can lead to personal growth and better focus.

"you won't die when you make those calls."

Hormozi shares a key takeaway, reassuring that despite the fear of initiating hard discussions, the act of doing so is not life-threatening and is a necessary step in personal and professional development.

• Speaker C, whose name is not provided, takes a moment to promote Alex Hormozi's book, "100 Million Dollar Offers".
• The book is mentioned to have a high number of positive reviews and is available on Amazon for Kindle.
• The promotion serves as a "give" to the community, with the hope of fostering future business partnerships.

"I have a book on Amazon, it's called 100 million dollar offers that over 8005 star reviews. It has almost a perfect score. You can get it for Kindle."

The speaker promotes Hormozi's book, highlighting its success and availability, and positions it as a valuable resource for the listener's business endeavors.

• Unmade decisions and unconfronted conversations can consume a significant portion of one's thinking power.
• The accumulation of these unmade decisions leads to decreased cognitive capacity, causing an individual to become more reactive.
• Addressing these decisions is crucial to regain mental clarity and decision-making ability.

"I think we accumulate these unmade decisions or unconfronted conversations."

This quote highlights the concept that unaddressed issues can pile up over time, creating a mental burden that hampers clear thinking and effective decision-making.

• Taking a break or sleeping can provide the mental refreshment needed to tackle problems with renewed clarity.
• The analogy with solving math problems as a child after rest demonstrates how a rested mind can simplify complex tasks.

"And then you wake up the next day and you feel refreshed and you look at the problem and it seems obvious."

The quote illustrates the benefit of rest on cognitive processes, suggesting that a well-rested mind can more easily navigate challenges that previously seemed insurmountable.

• A single decision has the power to significantly alter one's life trajectory.
• Decisions such as quitting a job or starting a business are pivotal and often necessary at certain crossroads in life.

"I'm only one decision away from changing my life."

This quote emphasizes the transformative power of decisive action and the potential for one choice to lead to substantial change.

• People tend to regret inaction more than taking action, even if the outcome is failure.
• Engaging in experiences and taking risks is preferable to living with the regret of not having tried.

"Most people don't regret doing things. They regret not doing things."

The quote encapsulates the idea that the fear of regret can be a powerful motivator for taking action and making important decisions.

• Personal relationships can serve as a catalyst for confronting necessary changes.
• The speaker's relationship with Layla provided the impetus for him to make difficult decisions and confront the ensuing consequences.

"Layla was with me because she basically said as well, after I got off the phone call with the coach, she was like, if you don't change things, she's like, this has got to change. I'm not going to be around."

This quote reveals the influence that personal relationships can have on an individual's decision-making process, especially when those relationships are at risk due to inaction or chaos.

• Making decisions often involves facing and enduring the consequences, which can be challenging.
• The determination to follow through with decisions, despite the difficulties, is crucial for personal growth and progress.

"I had to suffer the pain of the consequence of those decisions, which was very hard for me, but I felt determined that I had made those decisions."

The quote conveys the speaker's acceptance of the hardships that come with making tough decisions, acknowledging the pain but also the resolve to stand by those choices.

• Alex Hormozi emphasizes the importance of making tough decisions to gain momentum in personal and professional life.
• He shares his experience of shutting down side projects to focus on his main business, Gym Launch.
• Alex highlights that his decision to focus on Gym Launch came during a very difficult period in his life.
• The story conveys the message that one decision can significantly change one's life.
• Alex credits his wife, Leila, for believing in him and the potential of Gym Launch during his lowest point.
• He discusses the value of attention over time for entrepreneurs, stressing that undivided attention can lead to better decision-making and success.
• Alex concludes by sharing the success of his portfolio companies and his motivation for creating content to help others achieve financial success.

"I felt confident, and I felt like I had more attention and more bandwidth at my disposal because I'd made the tough calls."

This quote underscores the boost in self-confidence and mental resources Alex experienced after making difficult decisions to streamline his focus.

"And so gym launch actually was started in 2016, which was probably 2016 into the first half of 2017 was, like, the worst 18 months of my entire life."

Alex reflects on the challenging period when he started Gym Launch, indicating that it coincided with some of his toughest times.

"So she saw me at the absolute worst and for some reason decided to stay with me because she believed, which is why she'll always have my eternal gratitude."

Alex expresses deep appreciation for his wife's support during his struggles, emphasizing her belief in him and his business.

"And so it was only when Layla was like, this gym launch thing is working. All we have to do is just give it our full attention and it will work."

The quote reveals the pivotal moment when Alex and Leila recognized the potential of Gym Launch and decided to dedicate their full attention to it.

"I'm always one decision away from changing my life. And I'm often one conversation away from getting my attention back."

Alex conveys the power of decisions and conversations in reclaiming focus and altering the course of one's life.

"If we have all of the time, but we have a million things going on, we are useless because we have no decision making power, we have no thinking power because little pieces of our brain are being allocated these unformed, unfinalized decisions that maybe can cost you your life."

This quote highlights the inefficiency of having divided attention and the potential consequences of not being able to make clear decisions.

"So hopefully this story will illustrate that to you, that this was not something that naturally came to me, but was a decision that I had to make to save myself."

Alex shares that his disciplined focus was not innate but rather a deliberate choice for self-preservation and success.

"Our portfolio companies now do about $85 million a year. I have nothing to sell you. I made this channel because a lot of people are broke, and I don't want to be one of them."

He shares the current success of his companies and his altruistic motivation behind creating content, aiming to help others achieve financial success without selling them anything.

• The transcript outlines Alex Hormozi's entrepreneurial journey, marked by an initial struggle with multiple businesses and a subsequent focus on a single venture.
• Alex discusses the importance of sequence and attention in business endeavors.
• He shares the emotional and financial low points he experienced before making the decision to concentrate on Gym Launch.
• Alex's story serves as an example of personal growth through adversity and strategic decision-making.

"I ended three partnerships. I sold or let go of fire sold at the time. I guess if you were to try and number those, I had like eleven, nine businesses or something that was going on."

This quote provides insight into the drastic measures Alex took to narrow his focus, including ending partnerships and selling businesses.

"I wasn't barely making any money, and I had all these businesses so I could feel good about my status, when in reality, I knew that I wasn't that successful."

Alex reflects on the false sense of success that came with owning multiple businesses and the harsh reality of his financial situation.

"I had cleaned the slate and I'd pushed everything off to the side in the face of my mortality that the stress of not making these decisions was going to kill me."

The quote reveals the existential crisis that prompted Alex to declutter his professional life and the relief that came with making those tough decisions.

• Alex Hormozi explains that for entrepreneurs, attention is a more valuable asset than time.
• He argues that having too many ongoing projects can dilute decision-making and thinking abilities.
• Alex stresses that maintaining focus and being ruthless with where one's attention goes is crucial for success.
• He suggests that entrepreneurs should be disciplined with their focus, not because it's natural, but because it's necessary.

"The most valuable thing that we have as entrepreneurs is not our time, but our attention."

Alex asserts that attention, rather than time, is the key resource entrepreneurs must manage to be effective.

"We have no decision making power, we have no thinking power because little pieces of our brain are being allocated these unformed, unfinalized decisions that maybe can cost you your life."

He emphasizes the danger of scattered attention, suggesting it can have life-threatening consequences due to poor decision-making.

"I've been so ruthless with my attention since then, by consequence, so disciplined with my focus. It's not because I'm naturally that way."

This quote underscores that Alex's disciplined focus is a result of conscious choice and not an inherent trait, implying that others can also develop this discipline.

• Alex Hormozi concludes the transcript by sharing his motivation for telling his story and creating content.
• He wants to help others avoid financial struggles and believes in everyone's potential to reach the top 1%.
• Alex's message is one of empowerment and self-control, encouraging others to take charge of their financial destiny.

"I made this channel because a lot of people are broke, and I don't want to be one of them."

Alex states his purpose for creating the channel is to help others avoid financial hardship.

"I think that everyone has 100% within their control to become the top 1% in the United States, which is already top whatever percent in the world."

He expresses his belief that individuals have the power to significantly improve their financial standing through their own actions.