01:01:50 · Alex Hormozi
[01:01:50] S3: I'm a so customers are super fractal. Yeah. Right? And so you can absolutely make the same amount from 1% of your customers as you can from the other 99 and have half your revenue from one. Yep. And typically, like, at each level, you have another double. So it's like if you're at, let's say, a $100 a month price point, there's gonna be another double of revenue at a $500 a month price point, another double of revenue at $2,500 a month, another double at, you know, whatever, five or 10 times that is gonna be. And so I think making offers available to people, that is where business owners, like, struggle. They feel weird about it, and they sell out of their own wallet. Yeah. When it's just like, just make them available. Yeah. And state the facts and tell the truth. So it's like if we had one big plaque in our our marketing team, it's state the facts and tell the truth, but it's the whole truth, which is, hey, we're gonna do this thing. It's absurdly expensive, and it's only for somebody who if you're reading this and you're like, oh, that's not absurdly expensive for me. Yep. It's for you. Yep. And if you read that and you're like, oh my god. I'm offended by that. Good news. We have less offensive prices Mhmm. That are lower. And for that, we do all these other things that are you're gonna get way more people who are gonna be doing it with you. But if you're a special stuff like, we have special stuff like prices. Mhmm. I just don't think and to be fair, you're not gonna make everyone happy. Like, there's always gonna be trolls. There's always gonna be people who are like Of course. I think you have to make the decision of, like, do I care more about the people I help or the people who are angry at me for trying to
01:03:06 · Josh Zoffer, John Coogan, Alex Hormozi
[01:03:06] S7: help? [01:03:06] S0: Mhmm. What's your international strategy? I imagine the content goes everywhere. Yeah. At the same time, you can't be flying around the world constantly. How do you think about different countries? [01:03:17] S3: I struggle a lot with international. Because the business side of me is, like, I don't want them to clog up our funnels. Oh. Yeah. And, like, have people who can't speak English that well pop into the team. And it's just like it's like we don't have Italian versions of whatever. [01:03:33] S0: Yeah. Yeah. That makes sense. Right. [01:03:35] S3: So I struggle with that part. On the other hand, we're taking steps now to Look. Have something to, you know, serve that audience. That being said, don't think I'm gonna be traveling internationally anytime soon. Sure. But having called services and offerings for that audience, I'm I'm more inclined to be able to. [01:03:51] S0: Yeah. How are you thinking about scaling acquisition.com, the investing side of the business, raising outside capital, scaling up the fund? We talked to VCs all day who are just, like, bigger and bigger mega funds. [01:04:02] S3: Yeah. We're, like Early. Thirty days away from closing a gigantic deal. So [01:04:08] S0: Come back.
01:04:08 · John Coogan, Alex Hormozi, Jordi Hays
[01:04:08] S0: Come back. [01:04:08] S3: Yeah. It'll be great. But, like, I would say that what acquisition.com is when we started was a cash flow based family office that Leila and I ran. And that was honestly the chillest my life has ever been. I was also bored to tears. Mhmm. But, like, a good life and probably might have been better for the season I'm about to get into. [01:04:27] S0: Sure. [01:04:28] S3: But it became apparent after we did something like 24 deals in twenty four months, and these were not like VC style deals. They were like real, you know, purchases, that, you know, portfolio theory rules and of the 24, like, you know, three ish were, like, the really good companies. And then on top of that, there was, like, our brand blew up in this time period. And so we had to basically have this recalculation of, okay. Well, these are all the resources we have at our disposal. We have cash, but, like, this brand is getting really big, even almost greater than the cash that we have access to just our own money. [01:05:00] S0: Yeah. [01:05:00] S3: And so then it was like, okay. Well, we started the advisory practice in January '24, and I think we did 36,000,000 in EBITDA year one Mhmm. Just on that one unit. And so I was like, [01:05:10] S1: okay. [01:05:11] S0: Founder, no. [01:05:13] S3: And so and then, obviously, you know, the book launch Yeah. Last year, we did, you know, a 105, and we still have the advisory factors which grew the next year. And so I've we've basically we stopped doing deals that we were just investors in. [01:05:29] S0: Mhmm.
01:05:29 · John Coogan, Alex Hormozi, Tyler, Jordi Hays
[01:05:29] S0: Mhmm. [01:05:30] S3: And now it's brand plus capital plus work. And I'd rather have fewer eggs that we're gonna get huge outsized returns on. Like, [01:05:36] S2: Yeah. [01:05:37] S3: Was junior of '24 as well. Yep. But Skool has you know, we have 30,000,000 users now. Yeah. And, you know, we have billion plus GMV. Like, it's it's a very big platform. And so, like, I'd you know, Zuckerberg didn't have Airbnbs as a side hustle. You know [01:05:53] S0: what I mean? Yeah. [01:05:53] S3: And so it's just like if you have a if you have a stallion, like, run it. And so I think that's where we're at, where it's like we're being really, really specific. I'm I'm willing to put more capital at risk now because I'm gonna put my brand behind it [01:06:04] S1: Yep. [01:06:05] S3: And make sure the product's exceptional. And that's I mean, the bar is the product has to be fucking insane. [01:06:09] S0: Yeah. [01:06:09] S3: And then we bring distribution and cash. And, like, that's when it's like the the holy trinity. [01:06:14] S0: Yeah. [01:06:15] S1: Jeremy our friend Jeremy has this idea that that everyone is, like, pre or post fall. Where are you?
01:06:15 · Jordi Hays, John Coogan
[01:06:15] S1: Jeremy our friend Jeremy has this idea that that everyone is, like, pre or post fall. Where are you? [01:06:22] S0: You familiar with this concept? No. So yeah. He he says you can instantly tell if someone has had their downfall, had their darkest moment. You know, they've been through the wringer. They got chewed up and spit out by Silicon Valley or private equity or whatever industry they were in, and you can tell that this person is now they've they've been humbled. And so they're ready to build back appropriately, not get over their skis, and then you can also see the founders. It becomes a massive advantage. And then you also see the founders that are sort of pre fall and they're doing a lot of things that you're [01:06:55] S1: like Yeah. This is like this You better get lucky. 24 year old who's like on a crazy tear Yep. Has raised Money showed up for free. [01:07:02] S0: They're spending it. [01:07:03] S1: And then suddenly, like, you know, the business stops growing, like execs are leaving [01:07:08] S0: Yep. [01:07:08] S1: Things like that. But I'm wondering if you there was, like, this, like, crucible moment for you before this latest run that you've been on.
01:07:08 · Jordi Hays, Alex Hormozi, John Coogan
[01:07:08] S1: Things like that. But I'm wondering if you there was, like, this, like, crucible moment for you before this latest run that you've been on. [01:07:15] S3: Oh, so two answers. One is I'll reject the premise. But Well just because I don't like, to say it's super binary. Right? Like, people are either before or after the hard thing in their life. It's like, think people have lots of hardship that happens at different seasons in their life. Yeah. Like, I've lost everything two times. Like Two falls. Twice. But, like, that then it's like, okay. Am I now post fall? It's like, well, I mean, I I hope that nothing bad ever happens to me again, but I'm pretty sure bad shit's gonna happen to me again. [01:07:42] S0: Yeah. [01:07:43] S3: Yeah. And so I just commit to not stopping. Mhmm. Yeah. Controlling the controllable. That's basically all I can do. [01:07:48] S0: Do you have a good answer to pithy advice for young people? We got asked this on a podcast recently, and it was like the closing question. It was like, you got one minute. And I was like, I could you could talk for hours. Like, where do you even start? How do you think about packaging information like that? And I actually want your your your advice for young people if you have one thing. [01:08:10] S1: It's so hard to [01:08:11] S0: It's so hard. [01:08:12] S1: Like, work hard. It's, like, good general advice. But then I I've I've been in points in my life, and I know people that are, are like working hard on like the dumbest thing. Yeah. [01:08:20] S0: Yeah. Yeah.