When you think of online fitness coaching, you think Alex Hormozi. The dude with the huge muscles, 80s stache, and money galore. Before I dive in and drop his net worth number, let me tell ya about the beliefs and habits that got him here. The first thing is information. It’s the number 1 thing to invest in since its the only thing that can actually buy you more time. No one wants to go slow right? Exactly, but few people actually spend money on how to go fast. When he first started gym launch, Alex spent a crap ton of money on new skills, books, coaches, masterminds, etc.
The second thing is uninterrupted time. Alex says you need 4-5hrs of that each day. Alex gets his by waking up stupid early…like 3am stupid. Between 3-8am is when he initially was able to scale Gym Launch Secrets. The third thing he says you need is talent stacking. So if you’re good at English. Good. But you can’t monetize that. Go learn blogging (wink wink). Now you can. Now go learn copywriting. Your value just went up. Go learn script writing. BAM. You’re worth millions.
It’s that good ole’ hockey stick graph. You don’t make much at first, then it goes up a little, then exponentially. As soon as you start to plateau in that new income, look for ownership. Stop looking to blame certain things on the outside, find out what you need on the inside (like a new skillset), and go get it.
“You’re a hundred percent responsible for the income level that you have,” Alex rants, “and if you’re dissatisfied with it it’s ’cause you’re just not that valuable.” The first step to becoming more valuable is to understand that you’re not THAT valuable right now. You’ve got to leave the ego at the door, if you don’t, you just won’t level up. Anyone who has seemed to hit a ceiling is either too proud to admit they’re not good enough, or that there is something they’re not doing that they could be doing to be better.
Alex also says that shouldn’t outsource anything for as long as you can. How could you expect to manage a team properly if they know more about the position than you do? Alex might have a team of marketing guys today, but he’s better than them all. He also knows when someones not pulling their weight because he might notice ad costs going up and that he’ll have to have a conversation with them to tweak that.
To build a company that’s worth over $100M, you’ve gotta be so good at what you do that you’re annoying. So good, that anyone who wants to be like you has to come ask to pay you for your help because of how good others have spoken of you. And until something like that happens, keep improving and don’t get shiny object syndrome. “The biggest fallacy as an entrepreneur is that you need more things to make more money,” Alex says. But really it’s the opposite.
Contrary to popular belief, you need less things to make more money. And it’s the only way. Your competitors are always gonna be scatterbrained, going after the latest trendy thing. Let them chase it while you stay disciplined, really honing in on your one thing. That’s how you get to the next level. Advice we should really pay attention to since it generated Alex over 122 Million in sales by the time he hit 31. And while he doesn’t specify his net worth, he says it’s “ultra high”.