How to MAKE MILLIONS of Dollars in a SERVICE BASED Business...

Want to SCALE your business? Go here: acquisition.com
Want to START a business? Go here: skool.com/games
If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $200,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit.
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.
34 yrs old: I became co-owner of Skool.com to help the many people who want to start a business online do so.
Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.

[@mohammedhusein9834]

I kinda wish someone like you were on Shark Tank. Humble, to the point, a great human being, and successful business man.

[@Michael-4]

If he had been they would reject him and now his net worth is more than some of them already.

[@juansg5709]

but he has nothing to sell

[@Jason-fg9wn]

Hell yeah.

[@619rasta]

@@juansg5709 😂

[@Alex-ns6hj]

I think you need to be a billionaire to be in shark tank. When Alex gets to a billion, I definitely would want to watch Alex on there.

[@radonsmith4386]

Categories: Products (Physical/Digital) Services (Physical/Digital) Access (Physical/Digital) digital access and products have almost 100% margin Figure out which of these you could easily add to your business to raise the customer lifetime value Become so good that you become unique and have to be considered on your own (not just against competitors) Get a couple extra grands: Offer digital access (work directly with you) for 1-5k (in one payment). Guarantee to continue working with them until they achieve said result. Dont sell out (dont sell to "all" the people you could sell). Keep some demand for the future.

[@jessedegroot4486]

thanks!

[@dahj5954]

Thank you. Screenshot that and now I don’t have to take notes 😊

[@Rk047]

I'm re-reading and studying Alex's 100M book, for those who are watching Alex's vids: Don't be silly and think that you mastered it after watching 5 minutes lol, don't think that you will only watch one and it's done, watch it > do it > re-watch > do it again. I've shared the book with friends and I'm still creating my offer, but with my expertise in sales I know for a fact that it will work a lot (it's logical). About the videos, it's a lot of great content in a few minutes that turn in to hours when you work on it (and the ROI it's unbelievable)

[@OneAwareness1]

Does he say anything about Access that’s not to do with coaching, as he used in the example for this video? I like the idea, but I’m wondering what are more ways to utilize the Access method.

[@Beowulf002]

Update?

[@jas_bataille]

Not only does he has nothing to sell you, he mastered the art of speaking clearly at 3x regular speed to not lose your time, or his. A complete legend.

[@mocromo2010]

everyone has something to sell you

[@chrisismail]

I like Alex and watch his videos , I 😅think he directly has nothing to sell but as you progress with business, eventually u will pay for his services when your making millions , so indirectly your paying.

[@TitusLennon]

He may likely be speeding up his video in the editing process.

[@shutupavi]

I still watch at 1.5x

[@malepride]

He is oddly relatable. I love to listen to his thoughts.

[@NicholasRioux]

This is eerily a prediction of what would become Skool 2 years later.

[@kreativemyndmedia]

You’re teaching me the value of compounding videos - this one is a year old and the info is still so valuable:l. Thank you for the framework @Alex

[@Water4Mart]

I admire how you and other vloggers on KZbin don't plan their videos, they just set up camera and start filming, that's cool it makes you real.

[@Carlos-sr8km]

Bro don’t be a hater

[@austuhnn]

"Now those companies are such large monopolies, they own the gov." You've got my attention lol

[@froandcara]

Best quote . Truth.

[@CannonsRvRepair]

Mobile Rv Repair is one of the hardest companies to scale once you train someone they go out on their own.

[@jack_of_all_marketing]

Wow, I thought this was brilliant. I've never heard anyone add the "Access" form of selling point before, or breaking down products, services, and access into physical and digital.

[@luisalfonsocolmenares3315]

I recommend 100% percent his book. It's amazing. I been reading it and I learned a lot, now I'm more able to scale business and find good market opportunities.

[@TheSheepServer33]

All i know is I need to know everything he knows. I am building a service based business and plan on having a booking site that doubles as a member only access site with content that provides value to the members. Thats as far as i am so far with my first customer as of today

[@marcattili]

Right on time! Just started a landscaping business earlier this summer, thank you!

[@SmartKN]

I would live to work with you

[@BigLakesLawncare]

Awesome choice! We love the lawn and landscape industry!

[@nocarbsnation]

Good luck! Go get it!

[@tamsdieps13]

Awesome! Let me know if you need an awesome website to help grow your business faster

[@Vizeral]

I haven't watched a video at 1x in years and I thank you sir.

[@bnnaylor04]

You can tell this dude knows what he’s talking about because he speed talks haha he barely even needs to consider what to say next. Love these videos it’s a quick online education

[@UNKLJRKYL]

I have a truck and trailer mechanics business how can I go digital

[@vess6934]

That was a strong "bye" - Good stuff, Alex. Good stuff.

[@AKSHAY-zg4me]

Man you are such a brilliant guy

[@Samy-fk5tg]

Sounds amazing but let's take that masseuse exemple, how does one adds the "access" component to that profession ?

[@unklericky579]

I would imagine you would have to have a higher tier masseuse option.. one that works predominantly with professional athletes etc.

[@deangeloscott]

You can do live workshops, events that connect other masseuses' together, etc. You could also improve your offer by doing more. Hope it helps!

[@VodataDigital]

@@deangeloscott Agreed with this type of approach. I know many famous barbers (physical service example) that have academies. They have amassed success in the industry so their reputation sparks that want or need from other barbers.

[@raymondj.negronbeyondfailu1024]

Hello @S.Galarneau. Curious, of your feedback from the group's examples here. As someone who is a Massage(animist)--- (Don't take out of context) meaning I go for massages bi-weekly for 90-12- minutes each week. I believe you could get future access or someone that works on your/or your client's body until they are repaired with specific dream outcomes. Think deeper on thos. For example" If my masseuse "April" offered me 10-appointments at a Discount 1) I would invest in advance. 2) I'm wondering with you "Out Loud" if she/you offered me a service of 3,000 for the year (Unlimited massages)to those who can pay in advance I may go for it up to 2.0 hours each time and work on relieving tension in my injuries as I am an athlete. Food for thought! Thinking out loud as I like to help people. For me" This service would work for access as I serve a specific niche for the desired outcome." Thoughts?

[@raymondj.negronbeyondfailu1024]

@@deangeloscott Hello, also to add to what you said "Make sure your offer has teeth--exceptionally valuable by using the spectrum of solving problems, solutions and having that ideal outcome that they would want." If you are commoditized then you are like everyone else and soon people will find out your offer is stinky. Just food for thought. Loving the business minds here.

[@dahj5954]

New home builder now….. how to scale this?!

[@InvestingAlpha]

Thanks again Alex. Amazing value and insight

[@thecreativeentrepreneur7831]

How would you go about that in an art based business?

[@defaultworkouts]

I love cleaning and mobile detailing would be up my alley, including cleaning video game consoles. but I hate the business side of it. it would be great if I could just do the labor itself and focus on amazing quality but to do business admin and then the actual labor, it is tough. this is where a good business partner would come in who handles the entire "other" side of the operation. this is why I have always hated business but I love working. oh well.

[@maureenbmcclurg]

I married a man like you. 😂 I do the admin, marketing and ops side of his business and he does the work work. I end up helping him detail too sometimes but yea, pretty sweet setup. 🎉

[@rlpeppered5512]

Can you make a video of somewhere along the lines of what to do with a grand, then 10 grand, then so on. With multiple examples?

[@artrail20]

Interesting thought model. I have to figure out how to implement this thinking in my auto repair shops.

[@hermannrohr]

In terms of a product you could turn a low-effort but high value for the customer service into a package, like oil change/ free seasonal tire change in combination with a seasonal maintenance and service check up. The benefit here could be that a cars value diminishes less if it is constantly serviced and maintained. You can even ad a little booklet that the car owner can show potential buyers later on which would make their car more valuable when sold used vs someone who can't show that they upheld their car. The access part could be targeted at people in the market who are considering to sell their car or get a new one, and want to know how to get the best price for their car. You can do little webinars and upsell them into your free seasonal oil or tire change offer in combination with a 4 seasons in advance service and maintenance package. I would straight take you up on that offer :)

[@therealrumblefish]

Im Always excited for your vids

[@boufamtx2284]

Alex. How can this apply to an electrical service business ?

[@ArtFoxManagement]

How about you need to get more clientes where do you get them ? More client base

[@jz3123]

I love this guy, great advice! Aderall is a wonderful drug

[@miguelsantana8380]

Thanks for you’re videos 🙏😊 Any recommendations on advertising for plumbers small business?

[@YesitisDex]

Keep up the great work💪🏼💪🏼💪🏼

[@jilekmirek]

Hi ALEX... i totally love your work! I know you sent an e-mail that you erased "I have nothing to sell you" from all videos, probably here in this video, at the end somebody overlooked it, so I am just pointing it out, so you can be sure, you are not saying something you do not want. All the best! And thank you! I learned a lot.

[@MenOfCulture_TheRoundTable]

I might just start watching all ur videos cuz you really don't put in ads. He really doesn't need ur money that's great😂

[@MarvelousJohnson314]

It's a sales funnel for his book

[@mivids100]

I’ve brought your books, please write more 🎉

[@ONLY_GIRAFFES]

How would you do it for a business that is like electrical, mechanical etc

[@stachowi]

Dropping fire every time.

[@martinmenesestv]

As always delivering huge value!

[@heinobezuidenhout674]

Alex looks like Author Morgan, if Author Morgan was a Entrepreneur and a bodybuilder ...

[@EDP_beats]

Alex is the best "sun dodger' I've seen! haha!

[@drewsharps8179]

Great job!

[@littlespressurewashing]

This is a great video

[@CarlSmith-ri2yf]

Thank you for the video. Do you know if there is any ways to make money online at the minute ? I really could do with some extra money to pay for some healthcare treatment. I am working full time but with the cost of living still struggling. I would be super grateful for some help. I have a laptop and a couple of hours of daily free time. I lost my two front teeth in a car accident and want to get it sorted for confidence/self-esteem issues. It's going to cost around £3,000, and it would change my life as you would not believe. I am currently working in a office full time and sometimes do removals on the weekend. I would get it done if it I got into finance but i ruined my credit rating years ago with bad life choices. I'm just a genuine hard-working god fearing guy and would be super grateful for some help. Thanks

[@georgekumakanga717]

Its organic i love it

[@-pagebooklipraly8352]

thak you for this video

[@PullinMyOwn]

How do you get the screen recording from the ipad on the video like this live time?

[@hermannrohr]

If you use a Mac system you can do that by clicking the toggle icon in your top right screen and under screen mirroring you would mirror your iPad to your Mac while screen recording.

[@pawelkapica5363]

Ok So I am just starting out as a mobile car detailer in Germany. But I don't understand how this would apply to my type of service.I want to go into digital products later on, but with the actual car detailing I mean....

[@IzYaBoyNIGHT978]

Wow this was amazing I never thought of that.

[@kylekotecha153]

Thanks. Book was awesome by the way

[@JaredJacobsonLaw]

Interested to understand examples how concepts can be applied to legal services…turning legal services into digital assets or hybrid and make repeatable. Can’t get enough of content amazing THANK U 🙏

[@scootsgarage]

Thank you Alex

[@forestnamibia]

Many smart minds in the comment section. Could anyone give some advice on how to do this for a hospitality business. Specifically a "Lodge" out in the African bush.

[@hermannrohr]

Hello... sure. I was born in Namibia and live in Germany. Here is my advice. Hospitality is all about the experience. But the biggest friction your guests have is the uncertainty about whether their experience will meet their expectations. So the first thing I would do is figure out what peoples expectations are when they visit a lodge like yours. You can easily find this out by looking at the reviews posted on other lodges. Then from there you can consider a digital information product in regards to planning such a holiday. Usually people who visit these lodges are on a trip from far was which takes extensive planning, time and money. Most people would love to do it, but the whole planning is overwhealming. That is where you would create massive value for many people who are in information search mode and considering their next trip. Next you can ad an element of the service side like Harmony suggested to spice up your digital/ product offer. So the lodge experience is the product, the service could be 1. pick up from airport 2. Guided tours 3. and drop off to were ever they need to catch their next bus, or plain back or for their next destination on their trip. Cause usually a lodge experience is part of a trip with multiple destinations. Maybe the lodge can even offer a guided tour to all the multiple locations that people would normally visit, and rent a car for. And at the same time the lodge can create partnerships with other hospitality location at other spots and destinations - kinda like an affiliate network in the hospitality business of your local area.

[@bigslime9354]

Wasn't this in the book?

[@gelindark]

When you have an ACCESS offer like this, how hard is it to protect your time? And how do you go about managing how much time you pour into those clients? Thanks a ton for the content sir :D

[@hermannrohr]

The great part about the access thing is if you make it digital you can scale it because instead of 1:1 you could be offering group sessions. That of course works best if you niche down into a targeted or common problem or need of your Target market.

[@gelindark]

[@tinarubio6778]

What platform do I use to create the online courses or classes

[@tumblingrosesstudio]

Payhip, Podia or Thinkific

[@JAye365]

Ahhh creating a fake drought! 😅 street simplicity!

[@ankithkunnoth5272]

I want 💰

[@randomdude8310]

ummmmmm....what business is this for?

[@SebastianPerez-eo2ug]

your content is unreal

[@arisbonyadirodriguez]

Buy my course , 😂 misleading videos, and your valuation is misleading

[@themastercreatorlimejuice4853]

So.much lies! Just tell ma! Dont tease and BS.

[@SyedMuktasid]

'Implied urgency and implied scarcity' - Brilliant :O

[@jesusvivas11]

Man, I barely write comments here on KZbin, but you really deserve a kudos for your work and clear speech. Stunning advices, you are like a mentor but for hundred of people.

[@CoolManBizzareMan]

If you can sell a hundred, sell 20. If you can sell 20, sell 5. The reason for it is to keep the customers and demand in constant state otherwise you will start from scratch if you harrass the entirity of the market. Keep the demand in pressure so you will have customers that will boost your scale.

[@KatsudonArt]

I'm a digital artist and I paint commissions for a living, I wanted to grow this self-employed work and convert it to a personality driven brand like Mr. Beast and eventually turn it to the point where I can sell it and do it all over again. Thank you Alex for sharing this priceless knowledge and wisdom. This has me reevaluating my business plan for days now.

[@umaryes4473]

Good luck

[@Bluemoon_wav]

good luck fellow artist

[@tamsdieps13]

Goodluck, let me know if you need an awesome website to showcase your existing pieces and get new work

[@ck17va]

Whenever someone says they want to build a business and sell it, you can tell right away that they aren't a real business person.

[@minhhaihoang5108]

Thank you so much for sharing all this for free! Just found you couple of days ago and I can't believe that I paid so much in the past to get worse Information than what you share. So much love man thank you and greets from Germany

[@HHH-tx9nc]

Are you running a web design agency in DE?

[@MattTradesLife]

Working on my first physical products business. This was huge. Thanks Alex 🤘

[@MitchellRTucker]

One of the most genuine guys on YT… great respect for you 🙌 thanks for the great content.

[@tawanda33]

I always watch Alex's vids to see if I'm doing something right/wrong or if I'm missing something. We're already thinking about ways to give more access to our subscribers. Thanks for confirming this is the right way to go. The value in having someone who can show/teach you the keys to building a robust business strategy is absolutely immeasurable! As always, thank you for the great content Alex.

[@ChanceMagness]

The real challenge is CREATION.

[@adamparks1580]

Sup dude, love the videos 👍🏻 been watching a ton and think there’s a lot of cross over of your business models and a new company I’m just starting. Appreciate the vibe and all the (100% free.. ?! ) help that you give the world. It puts me in the mindset just before a meeting, keeps me focused and confident in what I want out of every interaction and in seeing missed opportunities. Anyway thanks again bud, just wanted to give credit when it’s due .. you’da man 🤘🏻. I’m starting a plumbing company btw and we got big plans.. if you have time look into the Neighborly Company, big franchises group acquiring multiple brands..

[@Dylan-um9jf]

How did that go

[@seanolivas9148]

How would this work for a service company? If you could explain how this would work for a photography company’s customers or a plumber’s company this would be helpful to have examples. Are you creating a different type of customer than your avatar customer to help with cash flow? I can see how this works for coaching small gyms b2b

[@ionbusman2086]

If you own a photography software or business you can train others (access) to maximize their use of the software or be better photographers. That was my take away

[@hermannrohr]

I think the key here is niching. As a photographer of plumber you could look at the 80/20 spectrum of clients. In other words. What type of photography assignments do 20% of your clients book that makes 80% of your revenue. Then focus on creating either a product/digital or an access/digital based on that 20% clients / 80% revenue and their specific needs. The same applies to plumbing. Whereby plumbing is a bit more difficult in regards to product/digital, because there are things that only an expert plumber who is qualified can handle safely. However, you could monetise your access access/digital by niching into a high ticket offer like heating system, plumbing renovation etc.

[@KitannaOfficial]

Hello Alex. I'm curious how I'd scale up a nail salon that only does manicure and pedicure services

[@MarketingHarry]

Free valuable lessons that no one would like to miss out. 😉 Thanks, Alex!

[@msway836]

Service based Businesses I expected more based on the title, not products morphed into a service provided...

[@Carlos-sr8km]

Not so much morphing products into a service rather chopping up what you do or don’t do already and crafting a well thought out value ladder. Feeds an ecosystem and stands to make you more coin

[@Smksesh]

this is the first youtuber that i've seen that didn't tell us to do something exactly, but actually educated his audience on how to start. Thank you Alex for not telling me to Helium mine.

[@GetUnlabeled]

Alex, and Leila, thank you for all you do. I have fantastic coaches, and I was reading your book the 3rd time through when I found out one of my coaches was ecstatically otw to the book store to get your book! So, I love divine alignment!!!

[@ck17va]

You've read his book 3 times and I'll bet you all of the money in my bank that you're still not making good money. Keep reading, I'll be building my businesses. Haha

[@adnanshahzad6285]

Hi, I am Adnan from Pakistan still I want to need a this book , as a free of cost ,

[@AcesizOfficial]

💰💰💰

[@Gome.o]

He's a sunchaser, heart-breaker, business-crusher. He's Alex Hormozi, and he's not selling you anything

[@OneAwareness1]

Great video, would love to hear some more examples for the Access method 🤔

[@gmoney1089]

Sounds like theatrical fluff... How would this work for a plumber, painter etc?

[@hermannrohr]

As a plumber you could look at the 20% of contracts you work that make you 80% of your revenue and then niche out on that. Example overall rehab of plumbing system for oder homes, or installing some type of high ticket system that only you as a plumber can do. And your access/digital offer could be targeted to the group of audience in search mode or considering to have that done in their home. You could turn it into a value ladder where you offer access to you in a webinar that consults, then offer access to your personal time as a quote or price estimate, and then finally offer your service including a maintenance package that seems to insane to refuse and beats whatever your competitors are offering in terms of value.

[@Gunshow0]

lol i got absolutely fucking 0 outta that video.

[@LennyYT]

Love it 🔥🔥🔥 Do you have a past sales page we can look at on proper disclaimers for the guarantee? Because as you have expressed before if they can’t do their part you shouldn’t be stuck working for free. 🙏🙏🙏

[@deangeloscott]

Include a termination clause in your contract where you have an out. Ex. If they fail to do anything necessary for X amount of time you reserve the right to cease relations... Good luck!

[@poet_stowage4574]

@@deangeloscott where would I be able to get a contract for yard cleanups or even just grass weekly or biweekly? Lots of people like to reschedule and i have to shuffle them around so then I have to readjust the entire route. So yeah . Really frustrating.

[@edbohemier9785]

@@poet_stowage4574 they miss their spot and wait for next time OR you put them where YOU WANT them in your schedule.

[@iamthefirsttosecond]

00:22 "bzzzzzzz's" I love you man. Thank you for all that you do.

[@TalkToAMillionaire]

Excellent... I'm glad you mentioned the "access" category. Very important. Thanks for sharing this, James

[@kevinkinsella7815]

I have a small cyber security business and I have about 20 years' experience. But I suck at getting clients. was a sales engineer for a while at AT&T. Any help would be greatly appreciated

[@Johnny_Vox]

There should be at least 5M subs for this intel that Alex offers every week. Incredible info here folks...

[@willlock3644]

Thank you so much for all of the wonderful information that you pass along to all of us! You’re an amazing person!

[@AnteliasTV]

hey alex , i have a question . Wont the netflix fall in the category of service based business models ?

[@theTaylorRobbins]

Hey bro! What’s the camera and mic and pad set up for this video? Is it just iPad to a Mac?

[@james____carson]

I love this fella!

[@peakbeats1551]

my only skill is video editing and trading forex

[@danteoftheeast2672]

Great video. Confirmed my next business ideas. Definitely need to increase my company’s level of exposure beforehand, but thank you

[@LovingAtlanta]

👍Ding ding ding 🛎 Yes! Thank you. 🙏💝

[@CalvinGoHardRichard]

Soo good! You really good nothing back. I'm going to play around with this idea. Thank you.

[@moneyronn__]

ISO digital product specialist

[@fiesplusprintingfactory6760]

all good but bro your speech is too fast for other part of non english country .. good luck

[@ipospointofsalesystem]

Fine education! Priceless content 👏👏

[@Kidwithachainsaw]

If you get some time, I'd like to pick your brain about what moves to make to grow my tree service.

[@MoaniikSiixela]

How would you apply this to a tv mounting business