Alex Hormozi: 9 Beliefs That Built My Ultra High Net Worth Got Me To $121M By Age 31

The video is about Alex Hormozi sharing his beliefs and habits that helped him achieve an ultra high net worth of $121M by age 31.

This video by Alex Hormozi was published on Jun 4, 2021.
Video length: 32:22.

In this video, Alex Hormozi shares his beliefs that helped him achieve an ultra-high net worth of $121 million by the age of 31.

He emphasizes the importance of investing in information and acquiring skills, and shares two habits that have helped him in his journey: waking up early and dedicating uninterrupted time to work on big tasks, and focusing on the biggest ROI buckets to extract as much value as possible.

He also interacts with the audience and asks about their entrepreneurial journey and current status.

• Alex Hormozi achieved an ultra high net worth of $121M by age 31.
• Investing in information is the best investment because it buys you time.
• Acquiring skills is crucial to success, and investing in information is the best way to do so.
• Having uninterrupted time to yourself and investing time in acquiring skills are important habits to develop.
• Jim Launch helps small business owners increase their revenue and profit.
• Acquiring skills is a lifelong process.
• Alex believes in the power of habits, routines, and consistency.
• Alex believes in investing in yourself and your business before investing in anything else.
• Stacking talents means adding one skill on top of another to become more valuable.

9 Beliefs That Built My Ultra High Net Worth Got Me To $121M By Age 31 - YouTube

Introduction

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• He achieved an ultra high net worth of $121M by age 31.
• He shares his beliefs and habits that helped him achieve this success.

Investing in Information

• Information is the single best investment that you can have because it buys you time.
• Allocating attention in places that provide disproportionate returns is key to achieving success.
• Many people want to go faster but don't want to spend money on learning how to go faster.
• Investing in information is the only thing that gets you from point A to point B in a shorter period of time.
• Acquiring skills is crucial to success, and investing in information is the best way to do so.

Habits for Acquiring Skills

• Having four to five hours of uninterrupted time to yourself every day is crucial for moving big pieces forward.
• Being an early bird or a night owl is not as important as having uninterrupted time to yourself.
• Investing time in acquiring skills in the morning when you are the most creative is key.
• Acquiring skills is a continuous process that requires consistent effort.
• Consistency and discipline are crucial for acquiring skills and achieving success.

9 Beliefs That Built My Ultra High Net Worth Got Me To $121M By Age 31 - YouTube

Conclusion

• Investing in information and acquiring skills are crucial for achieving success.
• Having uninterrupted time to yourself and investing time in acquiring skills are important habits to develop.
• Consistency and discipline are key to achieving success.
• Acquiring skills is a continuous process that requires consistent effort.

Building a Successful Business

• Jim Launch helps small business owners, specifically gym owners, increase their revenue and profit.
• Jim Launch has been the focus of Alex's entire adult life.
• Alex was able to open a new facility every six months as a 23-year-old off of cash flow.
• Alex and his team would fly out to gyms and launch them, going from zero to full capacity in 21 days.
• Alex did over 4,000 sales in a three-year period when he had his own six facilities.

Acquiring Skills

• Alex believes in spending all of the money you have to acquire skills until you can't spend money on acquiring skills anymore.
• The higher up you go, the more you have to donate to charities to get access to the boards of these charities to learn faster.
• Alex gives an example of talent stacking, where you combine skills to create something that is monetizable.
• He gives an example of combining math, bookkeeping, accounting, tax strategies, and insurance to save businesses money.
• Acquiring skills is a lifelong process.

Beliefs and Habits

• Alex believes in the power of habits and routines.
• He wakes up at 3:45 am every day to work out and start his day.
• He believes in the power of consistency and doing things every day.
• Alex believes in the power of focus and eliminating distractions.
• He believes in the power of saying no and being selective with your time and energy.

Investing and Wealth

• Alex believes in investing in yourself and your business before investing in anything else.
• He believes in the power of compound interest and investing for the long term.
• Alex believes in the power of giving back and making a positive impact on the world.
• He believes in the power of having a growth mindset and constantly learning and improving.
• Alex believes that wealth is a byproduct of creating value for others.

Stacking Talents

• Stacking talents means adding one skill on top of another to become more valuable.
• Each talent becomes disproportionately more valuable than the talents before it.
• If you haven't been able to increase your income for an extended period of time, it's because you haven't stacked the next skill on top of your prior skill.
• The biggest piece of advice is to shift your frame of mind and take 100% responsibility for your income level.
• Admit that you have a deficit and be willing to become better.

Example of Talent Stacking

• Jay-Z stacked talents to become successful.
• He started with a natural rhythm and learned how to perform, sell and market his own materials, create a label, and attract and find other skilled performers.
• For every additional talent he had, he got exponential returns on the stack that was underneath it.
• Understand what the next skill you lack is and aggressively pursue it.
• Invest time in learning those skills so that you can stack the next thing.

Marketing Courses

• Marketing courses promise to make you money, but it's not that simple.
• It's all yes's and no's, and you need to choose to dedicate your time and effort to learning the skills.
• You need to learn how to write copies, analyze data, create landing pages, and convert traffic into leads.
• Invest in yourself and your skills to become more valuable.
• Don't expect a course to magically make you money without putting in the work.

Managing a Sales Team

• Many entrepreneurs struggle with managing a sales team.
• The skill they lack is the ability to hire, find, recruit, train, and manage a salesperson.
• If you have an ego about it, you'll be incapable of becoming better than you are.
• Admit that you need to learn how to manage a sales team and invest time in learning the skill.
• Take 100% responsibility for your income level and become more valuable.

Acquiring Skills

• Acquiring leads is a skill that needs to be learned.
• Nurturing leads is a skill that needs to be learned.
• Conversion mechanisms are different for phone sales and nurture sequences.
• Don't expect to make a million dollars after buying one course.
• Get as many courses as possible and prioritize which skill to learn next.
• Discernment is the only thing that allows you to prioritize.

Investing

• Don't try to save money if your income is less than $200,000-$500,000 a year.
• Investments should be considered when you have an abundant flow of money.
• Understand the investment vehicle before investing.
• Deconstruct the path of successful people in your space to figure out what talents they stacked together.
• It takes a long time to get good at the game.
• The absolute incremental return at the end of learning a new skill goes up.

Discernment

• Discernment is the only thing that allows you to prioritize.
• People who are moving faster than others are able to allocate their time to the highest skill that would be next in the stack of skills that they need to learn.
• It takes a long time to get good at the game.
• The amount of effort and return that you get from learning a new skill goes down with time.
• The absolute incremental return at the end of learning a new skill goes up.

Skills

• Acquiring leads is a skill that needs to be learned.
• Nurturing leads is a skill that needs to be learned.
• Conversion mechanisms are different for phone sales and nurture sequences.
• Investments should be considered when you have an abundant flow of money.
• Deconstruct the path of successful people in your space to figure out what talents they stacked together.
• The absolute incremental return at the end of learning a new skill goes up.

Skills Stacking and Talent Stacking

• Success is often the result of stacking multiple skills.
• It's important to focus on developing skills and strategies to improve messaging and sales.
• Talent stacking is like planting a bamboo tree - it takes time to grow, but the results are worth it.

Acquiring Skills at Different Revenue Levels

• For businesses making less than $100,000 a year, promotion and marketing are key.
• It's important to never outsource marketing and sales until you have a solid understanding of these skills yourself.
• Don't hire a salesperson if you're not confident in your own sales abilities.

Getting to a $100 Million Valuation

• To achieve a $100 million valuation, you need to be really good at one thing.
• Focus on becoming so good at one thing that people start coming to you because of your reputation.
• It's important to stay disciplined and focused on this one thing, even when other opportunities arise.

The Fallacy of Needing More Things

• The biggest fallacy in entrepreneurship is the belief that you need more things to be successful.
• Instead, focus on becoming really good at one thing and building a successful business around that.
• Don't try to do too many things at once - pick one and stick with it.

Section 1: Doing Less to Make More Money

• You need less things to make more money.
• You need to do less so that you can get better and dig deeper.
• You can out discipline your competitors by digging deep and getting better.
• Blinders help you focus on your one skill and keep innovating to get better.
• It takes years to become good enough that people talk about how good you are before you enter the room.

Section 2: Monetizing Your Skill

• Once you have your one skill, you can monetize teaching that skill.
• You can create a high margin business that has high value because you are good at that thing.
• You have to keep doing that thing until you get so good at it that you're stock full and can't take any more clients.
• Then you raise your prices and keep doing it again and again.
• Once you are the most sought after, you can then sell that skill that you have acquired.

Section 3: Reinvesting Profits for Enterprise Value

• After taking out the profits from your high margin business, you should reinvest them into a business that has enterprise value.
• This business should not require you.
• It could be software, a product, or anything.
• Use the talent stack that you've acquired up to this point to grow that business to the point that you can then flip it and sell it.
• This is the 100 million or billion plan, depending on how big you play.

Section 4: Overcoming Plateaus

• If you hit a plateau, you're not good enough.
• You need to accept that and internalize it to create actions around the thing that you need to do and do it over and over again.
• The actions that you need to take have to be in terms of number of volume.
• If you're not good at sales, focus on how many consultations you can get into per day.
• If you're lacking skills, find a way to learn in the real world.

Belief in Consistent Practice and Mastery

• Make two commercials every day and run them to see which ones perform better.
• Deconstruct the successful commercials and create more of those until every video is a winner.
• Consistent practice and mastery take years, not weeks or months.
• Success cannot be shortcutted, and those who try will not be good enough.
• Certainty in business comes from doing something thousands of times and mastering it.
• At a certain point, mastery becomes a statement of observation of history, not a fantastic achievement.

Watch the video on YouTube:
9 Beliefs That Built My Ultra High Net Worth Got Me To $121M By Age 31 - YouTube