He graduated from Vanderbilt University in 2011 with a Bachelors's Degree in corporate strategy and went on to spend several years consulting for government agencies.
2/ Alex realized he wanted to do something more fulfilling in life and with his career, so he decided to enter the fitness industry.
Alex spent weeks calling gym owners across the country and seeing if he could connect with the owners to learn more about the industry.
3/ He managed to connect with one gym owner in Southern California, that offered to take Alex under his wing as a mentor.
Alex sold all his belongings and drove all the way across the country to Southern California to be an apprentice for this Gym Owner.
4/ After 12 weeks of shadowing him this random gym owner.
Alex then decided to begin searching for his own Gym location and ended up settling on a location in Huntington Beach, CA.
5/ He spent every penny on opening his first gym and ended up sleeping on the floor for the first month.
After buying all the equipment and furnishing the entire gym he was left with only one months worth of rent for him to try and find customers.
6/ Alex says, "I had no business being in the Gym Business."
After a random digital marketing conference that he decided to attend that month he was able to pull in his first 25 customers into his first gym.
7/ Alex then went on and opened another location every 6 months until he reached a total of 6 locations.
In 2016, Alex's mother, unfortunately, got very sick and Alex had to move home and neglected his 6 locations.
8/ He went home and an old friend ended up reaching out to him and asked if he could help someone he knew that owned a local gym and was struggling to get customers.
Alex offered to work for free for this gym owner and would take a commission on every customer acquired.
9/ He managed to double the size of this gym in 10 days and made over 35k in one week.
A lightbulb instantly went off in his head. 💡
"Damn I wonder how many other gym owners would want me to do this for them." he thought.
10/ After that, he managed to get booked up for 8 months straight helping struggling medium-sized gyms.
He brought in his girlfriend Lela, hired 6 salespeople, and they traveled the country helping gyms grow.
11/ He quickly realized that this was not going to be a sustainable model.
Gym owners would succeed with Alex coming in to help them but would quickly fail once the coaching and program ended.
12/ Alex decided to pivot his model from "I Do It For You" to "We Build Together" meaning he was selling his knowledge and his experience in the industry and helping these gym owners grow and build a better business while learning the knowledge to sustain success along the way.
13/ Since 2017 to this point, @AlexHormozi has provided help to thousands of gyms and has grown his business, "Gym Launch" to a 100M dollar business in under 4 years.
14/ Alex is known for Gym Launch but many entrepreneurs also know him for his insightful entrepreneurial and business perspectives and opinions.
He has an amazing book called "100M Offers"
He has a successful Youtube channel with almost 100k subscribers called: Alex Hormozi
15/ If you enjoyed this thread please make sure to drop a follow: @LiamKircher
I post about: SMB, Home Services, Entrepreneurship, and many other topics.
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Understanding this fallacy will change your entire perspective on decision making.
Keep Reading... //thread//
1/ The sunk cost fallacy means that we are making irrational judgements and decisions because we are factoring in other influences (Emotions, etc.)
This fallacy affects many entrepreneurs and can affect many different areas of our lives, leading to suboptimal outcomes.
2/ These outcomes range from deciding to stay with a partner even if we are unhappy because we’ve already invested years of our lives with them, to doing constant renovations and sinking money into a house trying to improve it when it may be more beneficial to just buy new.
Remote Cleaning Business - 10k/Month Cleaning Business Being 100% Remote
I launched and grew my cleaning business for the first year from a different country and different time zone.
If this thread gets 1,000 likes I will drop a FREE VIDEO GUIDE next week.
KEEP READING 🧵
1/ I graduated college and had no idea what I wanted to do with my life. I became a realtor in Philadephia and was working full time. I was not enjoying it and I wanted to make more money.
So I decided to start a cleaning business...
2/ I was living in Philly but I had limiting beliefs of launching it in the city.
So I decided to launch it in Canada, BC - In my hometown.
Fast forward a couple of months and I had a 10k+ a month business while I was 100% remote.
I made over $500,000 by simply cold emailing effectively.
Let me show you how you can do it, by bootstrapping it from nothing. 🧵
1/ $500,000 net income over 4 years from cold emailing in the cleaning industry.
Yes, surprising but possible. When people think "cold email" a lot of times they assume you are talking about e-commerce, ad agency, coaching/consulting, etc
You don't think about sweaty startups
2/ I have been sending cold emails since day 1 of my business and it has landed me:
- Annual contracts up to the size of 45k
- One customer providing 5k/week revenue
- Monthly contracts providing MRR of 25-30k
Here's how I added 50k per month in cash flow, with only 2k upfront capital.
If you are looking for more cashflow, you just stumbled upon a gold mine.
🧵
1/ When I was looking to start my first business I was searching through different industries and noticed a ton of businesses either required large upfront capital to start or it took long to start positively cash flowing.
2/ Then, I stumbled across the cleaning industry...
An industry where clearing 10k, 25k, 50k months was achievable... all with at most a few hundred dollar start-up cost.