746: Ask for Support, Not Permission | The Tough Lessons of Entrepreneurship with Alex Hormozi

The Rachel Hollis Podcast

Rachel Hollis

Health And Wellness, Education, Spirituality, Relationships, Personal Development, Society & Culture, Religion & Spirituality, Personal Growth, Self-improvement

4.6 • 16.4K Ratings

🗓️ 11 February 2025

⏱️ 97 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Rachel Hollis Podcast, Rachel interviews entrepreneur Alex Hormozi, a first-generation Iranian-American entrepreneur, investor, and philanthropist with a huge portfolio. Alex shares his journey, including the pivotal moments, partnerships, and life-altering decisions that have shaped his career. He discusses the importance of mindset, the role of mitigating risks, and navigating the complexities of business while balancing personal values. Get your copy of Rachel's New Book Here: Audible, Amazon, Barnes & Noble, Books-A-Millon, Bookshop.org, or wherever books are sold! 00:00 Introduction to Alex Hormozi 01:34 The Unplanned Interview 03:06 Alex's Backstory: From Management Consultant to Entrepreneur 04:48 Quitting the Job and Family Reactions 10:03 The Journey to Starting a Gym 13:21 Learning from Mentorship and Early Challenges 18:59 Finding the Right Experts and Building a Business 26:22 The Reality of Hard Work and Sacrifice 34:59 Starting a Gym from Scratch 36:25 The Power of Facebook Ads 37:03 Expanding and Scaling the Business 38:30 Challenges and Setbacks 40:09 Rebuilding After a Major Loss 41:54 The Birth of Gym Launch 49:47 Lessons Learned and Moving Forward 01:03:16 Ego and Unrealistic Comparisons 01:04:54 Overexpansion and Talent Issues 01:05:42 Serving Too Many Customers 01:06:31 Psychological vs. Logical Solutions 01:11:54 Importance of Data in Business 01:16:59 Volume and Consistency in Marketing 01:23:20 The Reality of Building a Business 01:31:53 Embracing Mortality for Freedom 01:36:13 Conclusion and Final Thoughts Sign up for Rachel’s weekly email: https://msrachelhollis.com/insider/ Call the podcast hotline and leave a voicemail! Call (737) 400-4626 Watch the podcast on YouTube: https://www.youtube.com/c/RachelHollisMotivation/videos Follow along on Instagram: https://www.instagram.com/MsRachelHollis To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices.

Transcript

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0:00.0	Hi guys, it's Rach, and I want to do a little introduction for our guest today. I don't typically
0:07.9	tell you about the people that I interview, but I thought it might be helpful to give some context
0:13.4	for who Alex Hormosey is. Now, many of you know, because you're a big fan of him like I am.
0:21.4	And some of you have no idea why this person is uniquely qualified to give you advice on running or scaling a business.
0:29.1	So let me give you a little backstory.
0:30.7	Alex has founded and scaled three companies to $120 million in cumulative sales inside of four different industries,
0:41.7	that's software, service, e-commerce, and brick and mortar, and here's the clutch, without taking
0:47.1	on outside capital. He has scaled and exited seven companies, his most notable being the majority sell of his licensing company
0:57.5	for $46.2 million in 2021. Now he and his wife Layla run a company called Acquisition.com
1:06.6	as a way to invest the wealth that they have created in all of these businesses they have founded
1:12.4	and sold. I found Alex, honestly, because he's all over social media. If you are any kind of
1:20.9	entrepreneur podcast person, you've seen him before, most especially if you follow entrepreneurs
1:26.6	that are dudes. because every entrepreneur dude
1:30.6	I know has a man crush on Alex Hormosey. We actually ended up doing this interview in sort of a
1:37.3	funny way. I was meant to speak with his wife, who is the CEO and founding partner in all
1:44.1	of these companies that he has
1:45.8	built and run and scaled and sold. And she got sick that day. And they were like, hey,
1:54.6	she can't do it, but would you want to talk to Alex? And I was like, absolutely. So the conversation
2:00.8	you're getting today was not meant to
2:03.0	happen but is absolute gold if you're an entrepreneur if you're a small business owner if you are a
2:10.3	freelancer this is magic and I think you're going to love it and it's also worth saying
2:15.9	Alex pulls no punches if you know his content then you know he's going to love it. And it's also worth saying, Alex pulls no punches.
	...

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