In a candid conversation on the Driven channel with host Albert Presciado, entrepreneur Alex Hormozi discusses the journey to substantial business success and the lessons learned along the way. Hormozi emphasizes the importance of focusing on a single high-leverage opportunity for an extended period, which he believes is key to achieving seemingly unreasonable goals. He delves into the concept that hardship reveals character rather than creating it, providing a foundation for future resilience. Additionally, Hormozi touches on the significance of selecting the right business opportunities, the power of partnership dynamics, as exemplified by his relationship with his wife Layla, and the necessity of sharing success to maximize the potential of a business. He also shares personal insights on maintaining health and well-being, including his fitness regime and minimalistic approach to alcohol, which contributes to his overall business acumen and life philosophy.
Mosey Nation, what's going on? We got a special podcast for you today. This is part one of the zero to $100 million in sales by age 30 podcast I did with Albert Presciado from Driven.
This quote introduces the podcast and sets the stage for the discussion on achieving significant sales milestones at a young age.
The three points that we hit on this one was the dark side of motivation. The things that we're afraid of and whether they use us or we use them, and how to focus on one path for an extended period of time to achieve the goals that are unreasonable in everyone else's eyes, but not your own.
The quote highlights the key themes of the podcast: the dark side of motivation, the role of fear, and the singular focus needed to achieve ambitious goals.
Yes and no. So I don't think that suffering is a requisite for success. But I do think that it is very likely. And I think what it does is it gives us evidence. Like, when you get into hard times, it doesn't change who you are. It gives you evidence of who you are.
Alex Hormozi expresses his view that suffering is not required for success but is common and serves as a testament to one's character.
And so somebody could be like, oh, man, 2008 wasn't that bad. Like, somebody who's younger hasn't gone through it. But man with an opinion, man with an experience who went through it, he's never at that guy's mercy.
This quote emphasizes the superiority of experience over opinion, particularly in the context of having endured difficult times.
So it's like, I'll give you a different example. Let's say you're new to business, which a lot of people maybe listen to this are. Yeah, but you might have had a tough upbringing, which a lot of people listen this probably have, right? Because a lot of people suffer because we're kids, right?
Alex Hormozi uses an example to explain how past hardships, such as a tough upbringing, can provide context and resilience for new business challenges.
Totally. It's the same dynamic. We have the identical dynamic between Layla and I.
Alex Hormozi acknowledges the similarity in partnership dynamics between himself and Layla, and Albert Presciado and his wife, emphasizing the importance of complementary skills.
And so I think that's why it gets so hard for people to get going, because especially if you're a solo, you own 100%, et cetera. If it's just you. We both have the advantage of two owners just right off the bat.
This quote discusses the difficulties solo founders face and the advantages of having multiple owners who are deeply invested in the business from the beginning.
"With every business competitive space, I thought, I was like, it's two one. We always come with an advantage."
This quote emphasizes the strategic advantage of having a solid founding team where members support each other, creating a competitive edge in the business landscape.
"It took me five years to learn focus."
Alex Hormozi indicates that mastering focus was a significant lesson that took considerable time to understand, suggesting it is a critical factor in achieving success.
"And that's when I learned that it wasn't about how hard you row, but what boat you're in."
Alex Hormozi relays Warren Buffett's insight that hard work is less important than the quality of the opportunity one is pursuing, emphasizing the need for strategic selection of opportunities.
"And so understanding the leverage of the opportunity, and then from a character perspective, understanding that I have to pick a high leverage opportunity and I must stick with it for an unreasonable amount of time, I have to just keep doing it."
Alex Hormozi discusses the necessity of committing to a high-leverage opportunity for a prolonged period to achieve significant returns, highlighting the importance of both recognizing leverage and having the character to persist.
"But if I do nothing else besides this one thing that I am focused on, I will get to a billion. And so everything that is not that is a distraction from that."
Alex Hormozi explains his strategy of ignoring other ventures to concentrate on a singular goal, illustrating the importance of maintaining focus to achieve one's highest ambitions.
"It's my very shameless way of trying to get you to like me more and ultimately make more dollars so that later on in your business career I can potentially partner with you."
Alex Hormozi openly discusses his intention behind promoting his book, which is to provide value to the community while also fostering goodwill that may lead to beneficial partnerships in the future.
"And so humans in general will tend to optimize for local benefit rather than global."
This quote illustrates the tendency of people to focus on immediate rewards rather than long-term advantages.
"Why don't the sales guys leave notes in the CRM so that when the customer service rep or the onboarding rep can see the notes to have a way better experience, have way better ascension rates, way less churn dropout, all these other great metrics that would improve the overall business, because the local pain of writing the notes in is harder than not doing it, but doing it gives the global benefit that is worth it, right?"
This quote provides a specific example of how choosing short-term convenience can negatively impact long-term business outcomes.
"And so it's a diminishing marginal return with an outsized absolute return."
This quote summarizes the concept that while additional effort may yield smaller incremental gains, the overall impact of these gains can be substantial.
"The last 2 hours compared to the first 2 hours, I might get this much extra, but this much extra is the difference between first and fourth."
This quote illustrates how in competitive situations, small improvements can lead to significant differences in outcomes.
"I think that giving more slices of the pie to people, you get so much more like, Jeff Bezos right now owns 10% of Amazon. Right? Elon owns 17% of Tesla. Warren Buffett owns 38% of Berkshire."
This quote emphasizes the idea that owning a smaller percentage of a larger, successful enterprise can be more profitable than owning all of a smaller one.
"So, yes to that question, in terms of envy, I don't know. I don't know what their primary motivation was."
This quote acknowledges the presence of envy and imitation but also suggests that motivations can be complex and not solely driven by envy.
"It's the end. So it's the end of the day mostly, but there's minimum effective dose, right? And then there's MRv, which is maximal recoverable volume."
This quote introduces the concepts of MED and MRV, which are critical to understanding how to train efficiently.
(Note: The transcript was cut off, so the last point is incomplete and only reflects the information provided up to that point.)
"And the amount that it takes to grow and to get an adaptation, and then the maximum amount that you can do and recover from is usually much further down the volume spectrum than people expect."
This quote emphasizes the misconception about the required training volume for muscle growth and adaptation, pointing out that more volume is often needed than people assume.
"Like, you will either break or you will grow, because there's no way you can stay the same given the amount of punishment I'm putting on this muscle, right?"
Alex Hormozi is highlighting the necessity of pushing muscles beyond their comfort zone to induce growth, suggesting an all-or-nothing approach to training intensity.
"The food side is. I know that you've alluded to the video that I had was just calories and protein is pretty much all you have to do, which is why we dessert every night, we do that because if you could have rice and potatoes or just like a big ice cream sundae. I'd rather have a big ice cream sundae."
Alex Hormozi simplifies the concept of nutrition for muscle growth to a focus on calories and protein, and he expresses his preference for indulging in desserts while meeting these nutritional goals.
"And then what happened is, for the next six months, I would feel this itch whenever I was stressed. Like, man, I could really use a drink, but I couldn't. And so it forced me to confront the things that I wasn't confronting."
Alex Hormozi explains how not drinking forced him to deal with stressors head-on, leading to personal growth and a healthier relationship with alcohol.
"Probably lots. I haven't thought about them lately. Probably the main human ones. Fear of failure, I suppose."
This quote from Alex Hormozi reflects on the universal nature of fear and his own experiences with it, suggesting that success has lessened his fear of failure.
"I think that the point of money is to buy us options and so I want to have the option to work because if I can't work it's just as bad as having to work and if I want to go fly private I want to have that option to do it."
Alex Hormozi articulates his view that money should provide the freedom to make choices, such as working or traveling, based on desire rather than necessity.
"And that concludes part one of the Albert Presciado driven podcast. Stay tuned for part two which is a banger I hope you enjoyed as much as we enjoyed making it for."
This final statement wraps up the first part of the podcast, setting expectations for the next installment and expressing enthusiasm for the content shared.