From Minimum Wage to $100 Million Net Worth By 29 (My Story)

Summary

• I realized the importance of knowing what I didn't want in life at a young age, which set the stage for future decisions.
• My experience getting arrested multiple times as a teenager taught me that without a clear vision of the future, present actions can lead to regrettable consequences.
• Turning my life around involved cutting off negative influences and surrounding myself with people who supported my goals.
• I engineered my environment to achieve my goals, focusing on self-improvement and aligning my habits with a healthier lifestyle.
• Accepting a challenging internship taught me the value of hard work and set my expectations for life post-college.
• After college, I prioritized learning over earning and sought a job that would teach me valuable skills, leading to rapid personal growth.
• Working as a personal trainer under commission only heightened my sales skills and taught me the importance of being in an environment that aligns with my objectives.
• I took calculated risks in my early 20s, which helped me learn and grow professionally, emphasizing the benefits of taking risks when you're young.
• Starting Gym Launch with my now husband Alex Hormozi was a leap of faith, with the mindset that taking action is more important than having a perfectly laid-out plan.
• Early failures in our business model at Gym Launch taught us the importance of aligning incentives for all parties involved.
• By focusing on a product that delivers incredible value, word of mouth became our most powerful marketing tool.
• Constantly innovating and investing in research and development kept us ahead of the market and ensured our product remained top-notch.
• Understanding your capabilities and being selective about team members are key to scaling a successful business.
• Rapid growth in a business can feel overwhelming, and it's essential to adapt swiftly while staying grounded.
• Creating a culture where employees are rightly placed and succeed is critical for sustained growth, and when they are not, tough decisions must be made.
• When diversifying into physical products with Prestige Labs, I learned the importance of focus and not splitting leadership attention across different ventures.
• Selling Gym Launch was a complex process that required understanding the business's value and ensuring that selling wouldn't compromise the operation.
• With acquisition.com, we aim to partner with businesses in a way that benefits all parties involved, providing growth strategies rather than just capital.
• Tracking my net worth became significant as it reflected the impact I could make rather than personal wealth, and it was at 29 that my net worth reached $100 million.
• The lesson of patience stands out as I work towards building acquisition.com into a billion-dollar business, ensuring that steady, well-considered actions will lead to long-term success.

Video

How To Take Action

A good way of starting your journey towards personal or business growth is by recognizing what you don't want. This clarity helps make better decisions. If you're surrounded by negative influences, cut them off. Instead, build a circle of people who share and support your goals. We often underestimate the impact of our environment on our progress.

To turn things around, create an environment that aligns with your goals. For example, if you aim to live healthily, fill your fridge with good food and find a workout routine you can stick to. Dedicate your free time to self-improvement, like reading books or watching videos by motivational speakers.

If you're looking to learn valuable skills, choose a job that challenges you, even if it pays less initially. Working hard in a challenging job or accepting an internship can teach you the value of perseverance and set the right expectations for your future.

When you're young, don't be afraid to take calculated risks. Starting a business with a partner or on your own is like taking a leap of faith. Remember, action is more important than a perfect plan. Learn from early failures and focus on making a product or service that brings incredible value to others. Word of mouth will become your best marketing tool.

Continuously innovate and invest in research and development to keep your offering top-notch. Choose team members wisely to scale your business successfully. When your business grows fast, it is crucial to adapt quickly but stay grounded.

Face tough decisions head-on when they are necessary for growth, even if they feel overwhelming. Sometimes, focusing on one venture rather than splitting your attention can be more beneficial. For instance, I learned not to dilute my efforts across multiple projects, ensuring each one gets the focus it needs to thrive.

Lastly, patience is key. Building something truly successful can take time. Rushed decisions often lead to mistakes that are hard to correct. Track your progress, like net worth, to see the tangible impact of your actions, but remember the true value lies in the impact you make, not the wealth itself.

Quotes

"I think it's more about knowing what you're capable of and showing yourself you're capable of it because I know when [ __ ] hits the fan I can kick it into that gear if I need to"

• Leila Hormozi

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"I just need to focus on don't focus on making money because I want to make millions of dollars I'm not going to make at any of these jobs"

• Leila Hormozi

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"it's a little bit of a curse if you get like a really cushed job out of college because you're comfortable and therefore you don't push yourself"

• Leila Hormozi

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"I think you just need to [ __ ] get started like you just need to do something have no vision for all I care just take action"

• Leila Hormozi

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"It's okay to be nervous and scared and stressed it's [ __ ] hard and especially hard for people who really want to do well"

• Leila Hormozi