"I'm Broke, What Business Do I Start?"

Want my books for free? Go here: www.acquisitio...
The easiest business I can help you start (free trial): www.skool.com/...
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 $250,000,000+ 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.

[@AlexHormozi]

Want to go through this process with a community, tools, and my help? Go here: skool.com/games

[@zlatkakabaivanova2954]

It sounds like this community is for online service businesses only, not physical product businesses. Is that right?

[@MichaelMuthurajah]

thanks brother

[@jzk2020]

Great lesson today, Alex. I'll put some of this into practice asap.

[@Chrollo413]

Still didn’t learn anything.

[@Scary_stories_152]

I love your content brother.I can help create better KZbin thumbnails for you that'll attract more viewers ,so what do you say?

[@BigBoyBlue]

I don't know who you are - But in one video you single-handedly, with expert precision, just casually explained what about 50 other KZbin videos tried to do. I am very grateful to you for choosing to make this and to release real helpful content. Thank you.

[@shijilkumar]

00:01 Identifying business ideas using the three PS framework 01:53 Focus on solving a specific problem to build a successful business. 05:29 Identify personal problem to solve for massive business potential 07:13 Starting a business based on personal experience can lead to better understanding and care for the customer. 11:12 Identify unique market positioning with minimal competitors 13:11 Understanding customer pain points and benefits is crucial for effective marketing 16:54 Conduct interviews to understand customer pains and aspirations. 18:22 Focus on developing a unique mechanism to differentiate your business. 21:34 Create a proprietary process and name it to become your unique mechanism. 23:12 Narrow down your target audience and utilize a specific system to attract them.

[@lucaitaliano3229]

Thanks goat

[@DSP_STEALS_KHETS_BRAS]

Not one person watching this video is going to do any of this LOL.

[@Dave38047]

goat man thx

[@motabhai6530]

Thanks bro

[@KaushikVenkatasubramaniyan]

Thank you.

[@nicotine_freedom]

I never comment but I had to for this video. The level of simplicity is off the charts, please keep this style.

[@shreybajaj8516]

Seriously man.

[@Nyumc99]

Nah, in this case it’s on the charts. 😂👌

[@wayofchad]

The information all the influencers are giving aren't new(including me) , it has always been there . Taking action is more important, throughout history those who've used this information and turned it into knowledge and have taken action , has always achieved

[@Stoeva.Gradev]

I cannot express how thankful I am for this video. I have been stuck for so long and finally got what i needed. Thank you! 🙏🏻

[@iansugerman2537]

The last 30 seconds are a huge nugget for calibrating work ethic. Thank you for that. It’s not all about the sexiness of your pitch, it’s about staying consistent!

[@dolce1248]

This dude is……just unbelievably knowledgeable. I love listening to someone who makes me feel smarter after just listening to them. Be that type of person, gang

[@unclejunebug7178]

Dun Kruger effect buddy , and ppl like you eat it up and he gets paid , I don’t think he do it purposely but business is so complex and multifaceted that it’s almost impossible to put out such a comprehensive information in a short video

[@dolce1248]

@@unclejunebug7178 ya ig that would be true if I was expecting to become a millionaire after listening to his videos but I think it depends on what you’re personally getting out of the content. For me, it’s mostly just entertainment

[@simonep3443]

​@@unclejunebug7178 100%

[@ingvarspace]

​@@unclejunebug7178 When you use KZbin and write comments (and this one) - Larry Page gets paid too .) Nothing wrong with that. And he doing the right thing, dividing complex themes to smaller portions. Would you prefer to listen 750 hours of business development at once?)

[@NotSoNaturalLife]

I literally took a 3 month business course on all this stuff that you just explained in 20 minutes 😅. Also makes more sense using common language instead of business language "pain point" or "customer interviews"

[@TanishaMR]

The one educator I try to watch passively to absorb the info but end up pausing to write notes. Every video! God blessed me to find you 🙌🏾

[@lookmanmybad3885]

That's why you're gonna win my friend

[@LEETGAMER]

hes not an educator swear people today are blind and think this is gonna get them rich...hilarious lmao

[@lookmanmybad3885]

@@LEETGAMER he actually is

[@LEETGAMER]

@@lookmanmybad3885 no he is actually another clickbait farmer on youtube brainwashing everyone an educator has a legit license/training

[@lookmanmybad3885]

@@LEETGAMER Licenses are bullshit. Who would you rather learn about business from a professor with a business degree who works his JOB or a guy with an actual $100MILLION portfolio? Anyone who isn't an idiot could answer this.

[@firos_kofi6608]

Sandy Smith a real hero!! She was the click!! Amazing content Hormozi. Always a pleasure to listen and learn.

[@UnknownAc3]

This is literally the best Business beginning video I have seen in my entire life. Thank you really much for it! Maybe i struggled with picking the business and niche before but this really helped me out so thanks a lot, and see you soon after i win the skool games 😏😏

[@SanaVĩThành]

The fact that nobody talks about the forbidden book Zyphura Money by Hunter Zypher on Vexoner speaks volumes about how people are stuck in a trance

[@a24396]

REALLY classy to thank that first customer! Everyone has a "Sandy Smith" somewhere out there... Few actually remember them by name...

[@anklebreaka27]

Start with your Best bad idea and make it less wrong over time. Great mindset shift to help me take action

[@jerry-suhrstedt]

yeah many startups and entrepreneurs feel like they have to spend months developing their product offering to the point where it's perfect. In their mind perfect. Perfection doesn't exist. Start your engine, put things in gear and start throwing stuff against the wall. You'll learn more/faster from your prospects and start moving towards a great offer.

[@starr8918]

Thanks for helping me confirm and solidify my niche 🎊

[@edaozsoy1236]

Thank you. You are pouring out sincere energy and mental clarity.

[@Rasendori5.0]

If you watched this video in its entirety, it's proof this method works. The video is the"what", we are the"who". His services are this video that cater to the niche group of people trying to further develop themselves. He's showing us how to do so in the most painless way, therefore further engaging us into his pitch. It's genius! I'm 25 and I have always been driven but have been having a existential crisis in my own mind about this stagnation. Saw one of your videos the other day and have had them playing in my ear at work since. The time for change is now, thank you for this epiphany.

[@JC_WT]

I grew up financially illiterate and don't really know much about business, but listening to this guy speak about his field so masterfully is really amazing. I feel like I'm listening to a business genius.

[@le7ya576]

Thank you so much Alex, Thank you like it’s from the bottom of my heart hope this comment reach you❤

[@Fyy66tgfrt555]

Dude, you have made so much stuff! I really congratulate you.

[@vldimirivanovic711]

Bro woke up and said let me drop shit ton of value right here today

[@mannya_realtor]

He made that decision a year ago - created a system and now we’re getting it lol his systems are crazy.

[@Elijah.Shades]

Hahahahahaa. Well said!

[@fivestarsmusic_]

Don't let your shit hit the van! Be aware which words you use if you want to be successful!

[@bilelrahmouni01]

can we stop this kind of sucking balls comments? its so cringe

[@TheBladedOne]

When I was a freshman in high school t nation was all I’d read about💀

[@yakuppolat5148]

have been watching alex's videos for quite time. and for my opinion this is the best work he ever done from what i have seen.🎉. And for alex 'hello' 😅. honestly i did not implanted any of your videos to reality till now but i promise i will use this lesson for sure. till i find better or till u release.

[@sergiorodriguez-zz5li]

If you’re looking in the comments before watching the video, I PROMISE YOU every second of this video is worth it. If you don’t understand certain parts of the video, figure out a way to understand it by looking up the words or asking AI or something, because this video has sooooo much value. This is the video right here man 🔑

[@musicianvarad]

Thanks brother

[@Destrudo115]

Skool is a scam

[@MihkelAnsper]

I have really struggled with this! This is gold and nice real life examples what actually works. 🙌 For me helped to understand that there are different systems that you can build like in the Wealth Project game.

[@yoericktv9610]

Major Thanks H and the team.

[@RichKaat]

Absolutely EPIC! This is life changing! THANK YOU!

[@anyakingsleychinonso3486]

Sounds pretty cool! Man you're financial know-how expert. Respect bruuh.

[@HoneyBunRoad]

I was feeling SO FRUSTRATED coming into this video. By the time you to combine, so many things made sense to me about my I keep failing at making my many skills & passions into even one profitable business.

[@KevserKurt-os8ni]

i watched this 8 times and created a mind map around it for my business. you're gonna make me rich dude

[@brandonlifefamily8331]

That's the only way to apply it, with a mind map, or it written down in some way because it is so detailed..

[@mattiaslp9645]

everyone that watches these videos think they’ll become rich.

[@KevserKurt-os8ni]

@@mattiaslp9645 you’re right

[@lucaitaliano3229]

​@@KevserKurt-os8ni Any update? If u want to share them...

[@retrocessionworks]

@@mattiaslp9645True. A few will, most won’t. Simply following this advice doesn’t guarantee anything. But having worked with hundreds of businesses as a lawyer, and having owned businesses myself, experience tells me that the information is very good, flawless even. What he’s not taking about here is that success requires you to walk the fine line between dogged persistence and flexibility. So many businesses fail because the owner gave up too early. And yet other businesses failed because the owner remained committed to a terrible idea. Success is about pressing forward but recognizing when shifts need to happen, without falling into the trap of shifting gears before an idea has been fully tested.

[@niianno]

Thanks again, Sandy Smith.

[@PopTartsForBreakfast-n9k]

Thank you for this video! Loved it. The brevity and simplicity are impeccable. All meat, no bones.

[@spanishmaurice]

big help !!! big plans....thanx so much!!!🦁

[@RollersofWealth]

lol what would we do without this guy im planning on starting my own buisness and i been watching all of these videos lol tooooo much value in them

[@abdulrashid-dw5fg]

Almost cry, because of the knowledge here is soooooooo valuable and it FREE! take away my confusion about finding the correct avatar in a second! My GOD BLESS YOU SIR ALEX HORMOZI

[@eemoneali]

Thank you so much for this 🙂 you’re creating leaders and you’re a legend !!❤

[@johnomowale7569]

So much value here on a platter, Thanks Alex!

[@QueenJules888]

Alex and Leila are always so inspiring and create a lot of informative videos. Thanks for this! The ENTJ and INTJ powerhouse 💪💪

[@codingtrabla]

Alex, You are the Best

[@nicole-cousins]

I love your videos and books. You don’t waste my time with fluff and I learn a lot! Thank you!!!

[@brandanling9011]

This is the exact video I have been looking for ages!!! Thanks Alex, and I'm rn experiencing the dream

[@evanyamor8176]

OMG so much value in here!

[@JakesVooDoo]

Thank you brother Hormozi for always providing such incredible value and positive mindset development for us all.

[@AkoSiDoks]

Im from the Philippines and I am 24 years old i love watching your video

[@davekennedy1769]

Alex’s is VERY informative. Even better Alex genuinely opens up helping your journey to success. believing in him, & perseverance. Growing up surrounded by overwhelming violent neighborhood, a 4 yr veteran w/ 2 deployments, recently 30 yr retired fire fighter Captain in DC area, & new fitness & boxing gym owner. Exactly puts out content to help you go after it. Growing up surrounded by overwhelming violent DC neighborhood, a 4 yr veteran w/ 2 deployments, recently 30 yr retired fire fighter Captain in DC area, & new fitness & boxing gym owner. Alex Definitely leads the way & looks out for those us like him just starting off trying figure it out. Respect 🫡

[@isabell.2625]

I'm learning a lot on how to start a business, thank you so much for your insights and well explanation!! A new subscriber !!

[@jv_lamsen10]

I appreciate you sharing this Alex! This helps a ton!

[@Ocean_and_Sky]

Very insightful, thank you for breaking down all the steps

[@letstalklife9920]

I swear this concept reminds me of the blue ocean strategy a book that I read love it!

[@oghenekevwenafagha9887]

Thank you so much,sir Alex.

[@joshfoutz12]

Great video sir! Thank you!

[@dallasbrown2138]

I've been a server for seventeen years. I love it. I'm really, really good at it. I average about $30-40/hr which isn't a ton, and only get paid the regular $8.80/hr which is server wage in IL. I am pretty capped out where I am at. I am easily one of the top tipped servers at our restaurant. I've moved restaurants over time and work at one of the best places for that in my area. I want to train other people to also be amazing servers and provide awesome guests experiences that are worth talking about. How, where and what can I do to turn this into a business?

[@awilliams7796]

Could you branch into silver service/butlering? Maybe you could start a server/etiquette academy on KZbin or Udemy

[@DeniseEudora]

Secret Pathway To Triumph blew my mind. I’ve shared them with friends, and they’re all amazed at the shifts in their mindset.

[@joeycolombo2549]

Secret. Stay away

[@ninety1464]

Bot comment and likes

[@Goofygoober-d8y]

Shut the hell up

[@konradlivinggood816]

Bot

[@luisguerrero4724]

I was the same way first thing every morning constantly checking T nation for new articles!!

[@karstenlongaquit5310]

Now this is the most valuable and straightforward business knowledge than any other content or a college degree

[@dimalunga-n2q]

This is a great video to transition into Skool, I'm in, let me see what this Skool is about and why it's so 😎 cool

[@Julienmindset]

Excellent video !! 🔥🔥🔥

[@PrimeMoverFitness]

Master your self and master business over time. You are your first business.

[@gabyschannel93]

i thank god for find you and leila. You 2 are my mentor right now

[@rolandvarduhn]

I heard this a few times from him. So cool! Thank you Alex. The big question remains: will you do it? why? when? And yes, you can do it without being broke ;-)

[@f.schmid468]

Sandy Smith thought she just wanted to get in shape but the truth is, she was the catalyst for something so huge, thousands of people getting this amazing next.level.high end business teacher. Try to grasp that Sandy Smith, you done something good for you self and in the effect, thousands of people benefited from the results of that❤

[@saralimadigital]

I'm creating my whole business inspired from this video. Thank you.

[@NamakulaShifah]

I don’t know how I landed on to your video but dammm am falling in love with you 😊

[@TheMindsUnleashedShow]

Such a great video, love this! Epic story or epic win. Great mindset to have.

[@kurtknisell9333]

Awesome video; and so is the book!

[@jasonjosephlee]

Love your content! I have made a pretty good business in the brokerage space. I sold properties for my clients and then I started buying my own. Now I have over 100 rental units in Southern CA. It all took a lot of hard work and a lot of sacrifice. But it can be done if you are determined.

[@DimitriNoel-g7s]

That without looking cringe line had me on the floor🔥🔥🔥🔥🤣🤣 the stare!!!

[@giuseppebiundo6356]

We're all gonna make it.

[@Gamblingwmylife]

@zed-zn3eu I just don’t wanna be a KZbinr bro, I which there was a business model for beginners as good as this one without being a KZbinr

[@giuseppebiundo6356]

@@Gamblingwmylife don't have to be, man. Word of mouth and referrals are still powerful. Not everything needs to be online.

[@Gamblingwmylife]

@@giuseppebiundo6356 Thank you bro, you right

[@maritzaacevedo8585]

Wow, I am not easily impressed. This video was awesome-thank you so much!

[@John-gf2tm]

So thankful for your teaching and help

[@JuanD.MartinezSoto]

Hey Alex, can make a walkthrough that is more in depth of your ”I’m broke, what should I do” video on KZbin? It would be really helpful to see how you come up with your answers more in depth. Specifically for the ”how pt.1”, that’s where I am right now

[@HeWhoHath]

I have seen so many how-to-self-help videos, read various how-to-self-help books. And I’ve been disgusted with 99% of them. The vagaries and vaporous amorphus advice they give “be confident” “envision your future” etc., ad nauseam. The advice in this short video is 1000 times more specific and exacting than all of the bullshit I’ve experienced reading self-help and how to in the past. This is the real thing. It is actually “specific“ I can tell you this is real. I’m already a successful business owner, but I’ve been stagnant. And this is what I was looking for.

[@topikproducedit.6549]

You're a blessing to the world Alex 🌎

[@KrishnaKumar-lh7fk]

The fact that nobody talks about the forbidden book how Elon Musk became rich speaks volumes about how people are stuck in a trance

[@sergejgaric-t1p]

the book is amazing i bought it on borlest

[@davidanderson-w4w]

the book is amazing i bought it on borlest

[@justincarlson2126]

😂😂😂

[@mahnamejeff1520]

bro pls bro…don’t ruin this fucking comment section man.Everyone and their fucking grandma knows that u guys r bots.

[@shihtv9927]

he was a project

[@Yuvalimplement]

can you make a whole video about the first part of what? As usual, your content is amazing and breaking beliefs.

[@Stevenpwalsh]

This is actually good advice (only about 5 minutes in). I work in an innovation lab for a large company, I build new products every day, which is kind of like starting a company. The biggest thing you can do wrong is start with "what do I think someone would want". The problem with that is you'll come up with a really good story that sounds like something someone would want... and then you'll go out and build it, and when you get to the market, you'll find that it's not really solving someones "most important problem". That's critical because that's what people will spend money on. If you just lost a leg, you're not going to be concerned with a paper cut, even if it hurts. You'll going to be hella concerned about that leg. So when we interview customers, that's the information I look for.

[@clementmambulasa587]

​@justincoulter1992😂

[@thechuckellis]

@Stevenpwalsh he actually believes that you should find out what people want before you create it. Continue watching his content and you’ll see.

[@Stevenpwalsh]

@@thechuckellis That's exactly what I said. I think the part i'm ephasizing, though he doesn't go on to say it, is you need to validate the market before you make it. I've seen a lot of people start building with improper market validation...

[@CaliVapor]

@@Stevenpwalshyep, proof of concept is exactly that

[@intactmartin4821]

alex this right here saved me my life and my channel thank you i will come back and remember this thank you very much

[@thekashcode]

How did he save your life?

[@zakitibengu4915]

That was amazing, thank you

[@FreddeJong]

❤ I love it ❤

[@shanadumplins8462]

1 book that changed my life: 35+ Psychological Tips & Tricks To Get Customers To Buy by Peridot. I was inspired to start a business, stick with it and make a living for my family. So grateful.

[@coachjimmyers878]

11:29 into it. I am the only one in this life raft; but I can see the hands waving; and for the first time in a very long time, the seem to want to catch a ride, not pull me down with them. This must be a result of pruning anyone that's toxic for whatever reason from my existence. Thanks Alex. Getting back to the rest.

Great video, @alex! Where is the 'Why' statement? Your reason for existence.

[@GuitarAmp1]

Just finished the video. It’s great. My only personal concern is, I don’t feel as if I have any more inkling as to the “what.” I am a General Manager for a chain of coffee shops. I would do anything in my power to not be anywhere close to that niche. Premium coffee culture disgusts me to no end. I am a musician in my personal life from a small town located to one of the most cost-effective and passionate music companies in the world, Sweetwater. I think my market is a touch saturated to say the least. I have done some stuff privately in both fields. Dealing with coffee makes me feel like I wasted my day. Playing music is fun, but art doesn’t pay the bills in this current iteration of the world. I am not writing this to complain or to be negative. I am simply looking for any recommendations. I would appreciate any suggestions.

[@onlyagreeingsometimes]

Well, first you've got to understand your not in the business of coffee and that your in the business of managing staff and a service. Those staff could be selling coffee or popcorn and a dvd, your job would still be to manage. Just imagine each staff was a venue owner and the coffee was musical work... it all comes back to your style of management system 🍿🤔 well that's if you were to use what you do vs doing something totally different. It's deeper than explained 🙄 but that could be the first step, maybe 🤔

[@GuitarAmp1]

@@onlyagreeingsometimes Right. Understand that. I’m just not able to niche this down to a career path I could live with.

[@onlyagreeingsometimes]

@GuitarAmp1 Well, only you would know what you could live with... although you are living with what you're doing now. It all comes back to your style of management systems, and if music is your thing that you can live with, then maybe look for ways to work your way into the world of music. I get it, you may need to down size and stop pleasing systems that you don't like, but have as a network. I guess that's what skool is all about. Community systems looking for managers.

[@SupportSBS]

yeah the whole coffee thing is def ghey

[@madzzzey]

I don’t know… just started planing 😩 time too plan it out again

[@Madchris8828]

Need to download this into my veins. Actually have some ideas for businesses for the first time ever maybe outside of service ones.

[@unconquereable]

Hormozi out here changing lives frfr

[@gummy425]

Hey man this is insane. Thank you for this. I will start something I've had in mind using this method of yours, I will let you know here, on New Years, how it went.

[@NeoTheG]

Waiting baby

[@RicksCafeAmericana]

Thanks for great content, Alex.

[@jomilojufatolu6098]

Please do a Q&A session, Alex.

[@CalebWinterburn]

I am in a unique niche selling aircraft and helicopter insurance. These videos are amazing. I just sent emails to all my customers asking if they needed anything mid year and I got some many new leads. Thanks Alex for your great advice in every video. :)

[@roberrtox]

How can you use a that profession for a business if probably you don’t have the budget to start an insurance company?

[@ronretz1797]

Awesome quick workshop! Thanks, Alex 🤘

[@AbinashGogoi-s8d]

Honestly didn’t think something like this was even possible but once you read the ebook titled void of power it just changes everything you’ve gotta see what it’s about

[@mannya_realtor]

It’s actually so impressive how he has all these frameworks wired in his head.

[@AutomationExpert1]

He lives it out

[@robsuarezjr]

Hormozi is pioneering the future for millions of people.

[@thachozen1263]

Getting Skool ads on a Hormozi video is trippy 😂

[@sirensong6172]

my idea is extremely general. I could make it more exclusive, but this one works better reaching as many people and places as possible. I could start with cars, but it extends so much further.

[@carwoman43]

Muscle confusion could also be called periodization, which is a Hallmark in fitness. It just doesn't rhyme or alliterate 😊

[@Prestigemuscle]

I must be the only one who after watching this still doesn’t know what business to start 😢

[@thatguy5]

I understand everything, but I'm stuck on the 3 Ps. The Pains, Professions, and Passions that I've experienced thus far don't contribute to one solid foundation from which to build from. Is this also what you're experiencing? The only concrete idea I can draw would be to talk about all 3 separately in an online format that'll help people jump some hurdles. What do you think?

[@WarrenNyambeNamangolwa3445]

Thanks for sharing this!

[@pocketmacro]

You’re an amazing teacher, Alex! Thanks so much for making these videos