The Game with Alex Hormozi - When It gets Easy Go Hard - Fat Pitch | Ep 283

Episode Date: March 11, 2021

Strike while the iron’s hot. Today, Alex (@AlexHormozi) talks about the time he attended a mastermind, presented his business numbers, and how everyone else in the room was so amazed at the fact that he wasn’t doing anything to 10x the money because of its massive potential. It’s time to step up and take on this fat pitch before it’s too late.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(1:37) - Alex's story: Invited to mastermind, advised to accelerate business.(4:25) - Attendees recognized potential: 10x business before it's late.(6:44) - Issue in internet culture: Belief of multiple revenue streams.(9:53) - Seize the opportunity: Step up and give your all.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

I think it's so valuable to to pay for mentorships and pay for, you know, people who are ahead of you to give you perspective that you lack. Because a lot of times it's beliefs, it's the things that you don't see that kill you, right? And that prevent you from succeeding. Welcome to the game where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe. What's going on, everyone? I want to tell you a story that was really impactful for me earlier on in my life.

in my business career. And it was when Layla and I went to the Pirates Who of Mastermind. Now, if you've ever, you know, listen to my podcast or you've been on this channel, I've talked about this before. But it was one of the most impactful experiences of my life. And it was because I had multiple mentors who made more than me, speak belief into me, and also made sure that I capitalized on the fat pitch. All right. And so I'll tell you how this went. So I was, Layla and I had just gotten married. This was 2017 May. We had just gone from, you know, me almost losing everything to this business that we had just shifted from a done for you flying out doing gym turnarounds to a consulting service teaching other people how to do our model and we were doing

we were like in our second month and doing 350,000 a month it was insane and it was just Layla me and an assistant over the selling over the kitchen table it was absolutely bananas I didn't even know we made more money than I knew what's even do with it was it was crazy you know what I mean living on $1,200 a month and taking home $340,000 of $350,000 a month. It was crazy. And so anyways, I got invited to an eight-figure mastermind. And clearly, if you're doing the math there, I'm not making eight figures. And I felt like really out of place.

I was like, are you sure you want me to come? And he was like, yeah, dude, you're going to like, you're going to blow past eight figures. And I was like, really? And so first person that spoke into me was Russell, which is why I'm always grateful for that. And so he saw something in me that I couldn't see for myself, which is why I think it's so valuable to to pay for mentorships and pay for, you know, people who are ahead of you to give you perspective that you lack. Because a lot of times it's beliefs. It's the things that

you don't see that kill you, right, and that prevent you from succeeding. And so anyways, we get to this event. I'm super nervous to speak because all these guys are like Titan and they're all doing, you know, 10 million, 20 million, 30 million. And I think Russell at the time, I think they were doing 35 to show you how long ago it was because now I think they're doing 150. I got up there. It was finally my turn. And I, you know, I wrote on the board and I told how our whole process worked and how much money our gyms were making on average. And Jason Flatland, actually, I'll start with Alex Sharfen says. So Alex Sharfman was in the room. He's like, you have a hundred million dollar business right now. And you don't even know it. And I remember feeling like the air was sucked out of the room because I felt all of a sudden I was like really proud of what I had accomplished. But all these guys made so much more money than me that they were, they were, they were. They were like, dude, you need to step on the gas. And I was like, what? They were like, you've got a huge thing in front of you if you, like, you need to take

advantage of this. And at the time, I was saying how I was like, okay, we're making $3.50 a month and I'm to start a supplement company. And they were like, why would you want to start a supplement company? Just double your ad spend because you're not spending anything on ads right now. And I was like, okay, I guess I'll do that because I listen to these guys because it made more money than me. I was like, all right.

And so that was my end all. So rather than starting another business, I just kept doing the thing that I was doing, which ended up being an amazing piece of advice for them to give me, and I probably would have sabotaged myself. I had not paid for that. So it's like if you ever have the opportunity to spend more than you're probably comfortable with to be surrounded by people who make a lot more money than you, you will almost always disproportionately.

And every time of my life, I have always disproportionately moved up faster when I can surround myself and figure out, I want them to speak into me and tell me what I cannot see. I'm like, tell me what I'm missing? What am I not seeing that you can see? Right? Because for whatever your business is, right,

or whatever your skill set is, I'm sure that there's, if someone who's doing something that you are very good at, you can immediately see what's going on. It takes you two seconds. You're like, oh, this is what's wrong, this is wrong. When I look at a business now, I can be like, oh, this is the issue, right?

It's immediate. But when you don't have the context, you just run your head into the wall wondering what's going on, right? So anyways, after my little presentation was over, Jason Flatley came up to me and he had done $100 million on webinars and I was like, man, this guy's super smart. And he was really aggressive and bright.

And I was like, man, we gotta figure something out. Or I don't want to say anything stupid. And so anyways, he comes up to me and he said, you need to 10x overnight. And I was like, what? He said, if you, what you're saying is true and you're making Jim's this much money, he's like, someone bigger than you who already has all your customer base is going to take everything you have and distribute it. I was like, what?

He's like, they're going to take everything you have and just destroy you before you even have a chance. And I just felt even worse after this, right? I feel this pit in my stomach. And then he leaned into me. And he said, when it gets easy is when you go hard. And I remember how much I was shaken by that. And Layla was right next to me. And I was like, when it gets easy is when I go hard.

When it gets easy is when you go hard. I was like, huh? And the biggest gift I got from those guys there was that this was my fat pitch. Real quick, guys, if you can think about how you found this podcast, somebody probably tweeted it, told you about it, shared it on Instagram or something like that. The only way this grows is through word of mouth. And so I don't run ads. I don't do sponsorships.

I don't sell anything. My only ask is that you continue. to pay it forward to whoever showed you or however you found out about this podcast that you do the exact same thing. So if it was a review, if it was a post, if you do that, it would mean the world to me and you'll throw some good karma out there for another entrepreneur. Right. There are only a handful of opportunities that present themselves in the course of, you know, entrepreneur's career where you have the opportunity, you have the skill. And like basically, the stars align, right? Now, that being said, you have to develop the skills so that when the

opportunity presents itself, you can knock it out of the park and step up to the plate. But when I listen to Warren Buffett and he talks about the investments, right, they choose very sparingly what things they're going to invest in. But when they do, they back, they load the truck up. They go all in. You know, you find your sphere of confidence in and you just get pitches all day long, right? Just like a baseball analogy. You get pitched over and over it.

But you have no strikeouts, right? There's no way to strike out. You just have to wait and wait and wait until you get the perfect pitch, that fat pitch that's in your sweet spot. And then you step up and you knock it out of the park. And if you look at the people who are the wealthiest in the world, invariably, the vast majority made their money with one vehicle. They made all of their wealth, or the vast majority of their wealth, with one vehicle. And then after they made their wealth, then they diversified.

Right. And so this is one of the big issues that I feel like I see in the internet culture and the Instagram culture is they're like, you got to have like, you know, billionaires have seven, you know, revenue streams. Yes, but they didn't have that to get there. Right now I have lots of revenue streams, but I didn't have that building this, right? And so the idea is it looks much more like an umbrella. You've got one straight path all the way up on one vehicle where you're all in invested, which is your business most of the time or your career. And then it balloons out.

Then it umbrellas out. And then you sprinkle those investments and other things because you're overly leveraged in one business. But every single one of them, most of the guys that you see all of them came from one thing that made their money. and then they sprinkled it out on top of the other vehicles. And so if you listen to Gary Vee even, he talked about one of his biggest regrets was how when Google ads were really cheap that he should have spent more for Wine Library.

And all of these things kind of collided at the same time in my life where I had, you know, I'm listening to Gary. He was saying, you know, I wish I had spent more, right? And I had Jason saying, hey, when it gets easy is when you need to go hard, all these guys are going to take all your stuff. And then, you know, Sharfen's saying,

hey, you've got a $100 million company and you don't even know it. And then, you know, Russell's like, you're going to blow past eight figures. And all of this stuff was spoken into me when I was just a kid. Like, you got to understand. Like, I didn't know anything. Like, I knew nothing. We're doing 300,000 a month.

And I was like, holy crap. Like, what is going on? Is this legal? I don't want to mess it up. Like, it was just like, holy, you know. And so, but because of their encouragement, rather than, A, distract myself and start another business, right? All we did is we, I followed what they said.

I five X my eyes spent. and then it just took off like a freaking rocket. You know what I mean? We went from, you know, $350 to $1.5 million in the next like five months, as in per month. And so it was just bonkers. And I just listened to what they had said.

And so my takeaway from this and me sharing the story is that I don't know what pitches you have in front of you. There are only a certain amount of times where we're going to get that fat pitch. And I think we, the point of this video is that if it is, easy for you right now, this is the time to step up. I was talking to some entrepreneurs that were younger, not that long ago, and they went from, you know, next to nothing, I think, not next to nothing. I think they were doing, that sounds horrible, what I'm about to say? So they were doing like one or two

million dollars a year. I didn't mean it like that, but their last month, they made like $20,000 or $30,000 in their last month of the year. And then the next month, they, they hit this offer out of the frickin park. And they, they did $3 million and they did $5 million the next month in revenue. I mean, that's insanity. I mean, I've never heard of anything growing that fast without like a JV, you know, like some sort of joint venture thing. Like never in my life, I've heard something grow that fast. And they were like, yeah, you know, we're trying to like enjoy the fruits of our labor and, you know, kind of like not spend a ton of time on the business, you know what on the business. And I wanted, and I got to have the opportunity to be the, the older person in the situation because I could see in

them what I imagine people saw in me, which was like, you've got a high. You've got a high. hot one right now. Like you need to ride it hard. Like when like strike when the iron is hot, right? When the fat pitch comes, you step up and you put everything you've got into it. And so like this is not the time to try and figure out work life balance because you're going to have this finite window where you're going to make disproportionate amounts of money. We're going to make your generational wealth in this short gap. And we just have to hope that when that opportunity presents itself, we take full advantage. Right. If you're going to California and during the gold rush in 1849 and you start panning for gold and you start

getting gold, that's not the time to say, you know what, I've made it, I'm going to stay home, I'm only going to pan, you know, for gold an hour or two a day. Of course not, right? Because you'd be like, I got a pan, I got a train, it takes much gold out of this river as humanly possible. It seems obvious to us from the outside, but when you're in it, you have all these other things that are going on in your mind, right? And the thing is, is that opportunity, like many, are finite, right? There's a defined period of time where you're going to be able to ride that wave and be early on it and crush it. And so most people who were very wealthy had one big pitch that they swung hard on and and then after they've made it then they sprinkle their other

investments just don't try and reverse engineer the wrong sequence and so anyways hope this is valuable you it was a huge moment in my life i don't know where you're at i don't know if your fat pitch is coming i don't know if it already came and you wish you'd swung harder or you're on the plate right now and the ball's right in front of you i don't know where you're at but hopefully this uh this story that changed my life um can help someone else so anyways lots of love keep being awesome i'll catch you guys on the website. Bye.