Creating a company and starting something that can expand or become an empire is many people’s dream. However, as many people start to look into it, they realize that the journey will not be easy. The hard work, sacrifices, and determination required to start something of your own can often overwhelm many people.
Entrepreneur and business genius Alex Hormozi agrees that this can be the case, but there are mentors you can lean on. Coming out of incredibly difficult moments, Hormozi now has an impressive portfolio of companies that generates an eye-watering $85 million in revenue every year.
As mentioned, things were never easy for Hormozi. To start with, he and his wife only had a mere $1,000 to their names, but with the help and support of his wife, Hormozi has made himself who he is in a short 5 years.
Not having money was only the start of their problems. Hormozi had little to no reputation, making his dream even harder to achieve. There were moments when he had to sleep on the floor of his gym, and he nearly went bankrupt in the process. These are all major issues and real-world problems that end up taking people down. However, Hormozi’s determination defied everything and surpassed expectations. He got up every day and achieved the success he has now.
Using these difficult moments as motivation and a reason to step up, Hormozi started learning business techniques through some courses. In the coming years, he used his acquired knowledge and talent to scale his gym, increase cash flow, and open 5 more. He ended up selling them and did 33 turnarounds in just 2 years. Hormozi then started a supplement company, further expanding his business and entrepreneurial experience.
However, Hormozi went even further and started his own software company, diversifying his portfolio. Next up, he started to acquire small parts of other companies. As of now, his portfolio has achieved new levels of success and diversification.
When sharing wisdom, Hormozi says that he emphasizes the importance of making rational decisions. He says that you need to be confident in yourself and your work and never let anyone make you doubt yourself. He further mentions that to achieve success, you need to do boring work. Hormozi’s penultimate piece of advice goes out to many who follow the concept of early and easy success.
Finally, Hormozi says that you need to provide value, which makes complete sense. Providing value through your work or skills will be a key factor in your journey to success.
When looking into the future, Hormozi says that he would like to expand his portfolio to a new level of more than 100 businesses. Along with that, he is working on increasing revenue to a staggering $1 billion in a year.
After achieving this, Hormozi says that he would like to impart his knowledge to others. He would love to give lessons through books and courses that can be easily accessible and available to everyone. Looking at how Hormozi has made his portfolio go from nothing to $850 million in a matter of a few years, it’s only a matter of time before he achieves his next goal of $1 billion.