Alex Hormozi holding a banner on his shoulder. It is written "Hormozi's 19 Lessoon"

19 Lessons from Alex Hormozi on Wealth, Business, and Sales

Before the launch of his book “$100M Leads“, Alex Hormozi promised that whoever brings the most leads for the book launch event would get to interview him. The deal was that if you became an affiliate for the launch event and were in the top 10 affiliates in terms of leads generated, you would win the opportunity to ask Alex questions and interview him.

I was also an affiliate for the event and brought around 500-600 leads, but unfortunately could not crack the top 10. However, as a fan of Alex, I was eager to interview him.

Since I was not eligible, I watched his interviews with all the other top 10 affiliates on their respective YouTube channels. Here are some notes and key learnings I got from Alex Hormozi based on those interviews. The notes capture his words as closely as possible. I hope you find great value in them.

To kick things off, let’s define what it means to be “rich AF from Alex Hormozi’s words…

How Do I Get Rich AF?

For this post, we’ll define “rich AF” as having a net worth of $100 million or more. It’s an ambitious number, but if your only goal is to get super rich and you’re willing to work hard, it’s possible to achieve.

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I would start a boring business in services related to health, beauty, or wellness. Things people will continue wanting human help with versus AI. For example, dentistry, nail salons, lawn care, and personal training. Scale that locally then nationally to build wealth.

What If You Had To Start Over?

If I lost everything again, here is the fastest way I’ve been able to generate over $100k in a month from scratch…

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Find a local business you understand well. Negotiate a bulk deal for services at wholesale pricing. Front the marketing costs. Work the leads yourself and keep the upside.

For example, sell chiropractor appointments at a huge scale discounted for volume. Spend heavily on marketing. Sit at the front desk and close. Repeat next month.

Three Most Important Skills To Develop?

  1. Leadership – Getting people to do what you want at scale
  2. Sales – Marketing and persuading customers
  3. Building – Creating products people love and want to continue using

Focus first on building an exceptional product/service so happy customers drive growth more than promotions. But you still need sales and leadership to scale.

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How To Balance Freedom and Discipline

When you enjoy your work and creativity flows, keep going even if it’s late and impacts rest.

But when mind and body feel off, listen and pull back. Pushing through punishingly only works for brute-force tasks versus creative output.

It’s about maximizing peak flow states over the full week rather than rigid rules.

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What Advice Would You Give To Your Younger Self?

Taking the risk to leave your job and pursue what you desire long-term is like a free lottery ticket from a stranger.

If you stay and lose, you have what you had before. But if you leave and win, your life is changed forever.

Judgment from others shouldn’t outweigh fulfilling the dream you feel called toward.

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Best Leila Story

Early in our relationship, Leila…

  • Quit her job and stable career to join my struggling business
  • Split an Airbnb with 5 random guys when I couldn’t afford a hotel
  • Generated the biggest launch ever despite me ending our relationship

Her loyalty extended grace I didn’t show her. It defined and strengthened our bond.

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The corrected grammar would be: “If you want to learn about Leila Hormozi and her journey, you can read our post, ‘Alex Hormozi Wife: The Untold Story of Leila Hormozi.’

Biggest takeaway from writing $100M Offers + Leads

The main difference is that improving your offer is strategic and can be done mentally before implementation. Whereas generating leads requires real activity like outreach, content creation, and advertising.

Many obsess over crafting an amazing offer but never execute on promotion. You need both, but leads drive real revenue.

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Do you like book summaries?

I don’t read many summaries anymore. The key insights are usually in the details, not just the main concepts. Once you have basic knowledge, summaries lack the depth to expand understanding.

For beginners, they provide a helpful framework before diving deeper through full books. But there are no shortcuts to mastery.

book summaries images

Can you scale my business?

I would focus everything on lowering the customer churn rate below 3% monthly. No point in acquiring more users if they keep quitting your app.

Tighten up onboarding, simplify UI, and improve value delivery first. Then blow up lead gen knowing you can monetize customers profitably over time.

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Difference between Skills and Meta-skills

A meta-skill helps you acquire other skills more easily. For example, reading ability is a meta-skill enabling learning.

People fail to implement what they learn usually because of insufficient meta-skills, not motivation. Teach in smaller steps accounting for limited abilities.

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How would you fix the education system?

Students progress based on mastery versus arbitrary age division. If reading a page fluidly takes you a day or a year, so be it. The goal is learning itself.

Constantly reward effort and improvement regardless of pace. Use bonus rewards stretching past comfort zones unlocking new potential.

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How do you choose what to learn?

Always focus on the biggest constraint limiting your business. If solved, the company grows to the next bottleneck. Repeat until rich.

Right now I’m diving deep into branding to write my next book. Education fuels creation and sharing knowledge helps others skip pitfalls.

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Takeaways from Branding Education

Despite seeming an expert, it’s only been 2 years since I started content creation and organic marketing. My paid advertising history is much longer.

However, by identifying gaps around branding, I can contribute unique value. The learning journey never ends. Each step compounds capabilities making contributions possible.

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Now over to you – what’s the #1 obstacle constraining YOUR growth? Let’s talk it through!

Deleting vs. Solving Problems

Evaluate issues based on their likelihood to impact sales velocity, customer lifetime value, or continuity of the business model. If a problem doesn’t directly threaten these drivers of company value, consider deleting it from your priority list.

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How to Price Premium Services

There are four pricing tiers:

  1. Luxury (demand rises with price due to status signaling)
  2. Premium (above-average quality paired with bonus utility)
  3. Standard (average with no differentiation)
  4. Low-Cost Leader (maximum efficiency enabling lowest pricing)

When raising prices, use the upside to improve the customer experience, not just margins. And get extremely targeted on who you best serve.

What Does a Great Accounting Firm Look Like to You?

Accounting should operate smoothly in the background like great Wi-Fi – accurate, timely, and enabling data-driven decisions. Translate financials into business growth implications.

Monitor key performance benchmarks relative to peers, noting areas to optimize. Evolve into a fractional CFO delivering strategy alongside bookkeeping.

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How Much Should I Learn Before Hiring?

Interview numerous candidates as “expert interviews” to understand role expectations even if you haven’t yet been hired. Notice the quality of data they analyze as an assessment of abilities. The more metrics someone tracks, the better they likely are at that function.

Listen for gaps between your knowledge and theirs. Keep meeting people until you can judge the candidate’s credibility.

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How to Fix Operations

Operations bottlenecks surface through frustrated attempts to scale. Lacking systems and controls increases the risk of running out of cash accidentally while chasing growth.

Getting the right finance oversight provides confidence to pursue aggressive expansion knowing you won’t overextend resources. Invest in operational infrastructure in tandem with pushing known constraints.

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What Should Agency Owners Avoid?

The most common failure mode is trying to service too many customer types which leads to fragmentation. Maintain strict focus on one core problem for one well-defined customer profile.

Unlike product businesses that scale through capital, service companies rely entirely on talented people. To grow, become maniacally good at attracting and retaining exceptional team members. Company destiny is traced to culture.

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How do agencies become irreplaceable?

Rather than positioning as a one-stop shop, explain the many small actions required behind the scenes to deliver results. Break down all components that produce the outcomes clients want.

This clarifies the actual scope of work. Helps justify the pricing. And makes it extremely costly for a business to rebuild capacity internally.

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How do I deal with a needy client?

The core issue plaguing service businesses is taking over too many client functions until they just want you to fully operate their company.

Get extremely narrow on problem definition and ideal customer attributes. Identify your absolute best clients then recognize what makes them different. Look for patterns across their size, industry, mindset, challenges, etc.

Shape everything to overserve this well-defined profile through targeted problem-solving. Say no to other opportunities diluting your focus.

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How do I stand out?

In crowded markets like fitness, resist the urge to emulate competitors. Uniqueness arises from genuine expression, not imitation.

What quirky passions make you different? Allow those to shape content reflecting real facets of your personality versus chasing trends.

You’ll attract super fans overlapping in a few of these interests over time. Consistency and authenticity build true community.

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Should we franchise?

Before exploring franchising or national models, first prove your concept works in a concentrated geography generating impressive profits per location.

Use success within a small region you can tightly control to fund expansion vs chasing scale prematurely. Grow through constant reinvestment to avoid risk rather than rapid overextension low on capital or infrastructure.

Once the machine runs smoothly in one city, replication becomes easier. But only after nailing operations close to the home base.

While hunger for quick growth is understandable, sustainable wealth comes from stacking steady compound interest year after year. Master patience in pursuit of your bigger vision!

Where do you find knowledgeable people?

Use outbound outreach to target potential hires on LinkedIn. Refine search criteria based on job titles and responsibilities to filter for the expertise you need.

A good litmus test – on calls, you should be learning from top talent rather than teaching them. After speaking to 20-30 qualified candidates, you’ll have a solid sense of the requirements.

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Should we do group selling?

Leverage scalable materials like webinars for lead gen and education. But maximize 1-on-1 closer time focused purely on a personalized sales conversation.

Standardized group content helps peak interest. Yet high-ticket purchases require tailored persuasion highlighting individual needs. Support reps with strong branding and pre-framed value propositions allowing conversations to start more advanced.

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How do I build trust in sales?

Nothing accelerates sales cycles like a strong brand diminishing the need for overt trust-building tactics. Without existing authority, display competence through custom research on prospect pain points.

Increase perceived common ground through vulnerability and transparency around your own experiences. Check assumptions requiring prospects to clarify rather than claiming excessive understanding.

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Number 1 Reason Show Up Rates Change

It’s never one silver bullet adjustment behind show rate fluctuations but an accumulation of small improvements. Respond faster, send gifts, and frame meetings as exclusive value exchanges rather than pitches.

Examining your own likeability and credibility provides the highest leverage. If few prospects inherently trust you, no tactics compensate for that core positioning weakness.

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How to Increase Performance of Setters and Closers

Reward strict adherence to proven sales scripts, not just closings. This trains the optimal systematic approach. If poor results persist with high adherence, the script itself needs improvement.

Instill collaboration versus isolation. When an individual “goes rogue” for a one-off sale through manipulation, it inadvertently reinforces counterproductive behaviors. Embrace transparency over secrecy.

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How to Sell Emerging Tech

Don’t focus pitches on being cutting-edge. Tech differentiation intrigues early adopters skeptical of business viability. Mainstream buyers care about outcomes.

Explain how you’ll solve their problem better through continuity of existing workflows plus added efficiency, not disruption. Lead with the promise, not the method.

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What are the Best AI Businesses You’ve Seen?

Most either lack true AI or business fundamentals. Success comes from narrow specialization in an industry you know extremely well, not generalized consulting.

Identify specific struggled workflows then build tailored automations achieving step improvement versus a Moonshot pitch. Anchor value propositions around progress customers already desire.

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How to Hire a Good Development Team

A technical co-founder is essential for assessing capabilities when you lack direct expertise. One incredible developer outweighs one hundred average ones.

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Be wary of representing competence beyond your own skill set. Those actually qualified recognize subtle signals distinguishing strong teams from poseurs. Invest in a work environment attracting top-tier talent.

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