Leila Hormozi: From Minimum Wage Employee to $100M Net Worth By 29

What I really thought about was When does it end? You know, like At eight arrests, at ten arrests, at three hundred pounds, at three hundred fifty pounds, I just really thought about that and I was like, what does my life look like in three years, in four years, and five years if I keep doing this?

And That terrified me enough to immediately change literally everything. I feel like I could rule the world and no one be what I want to

I put my law in it like my day song. Okay, so keep it. I don't know, you guys are pretty kick ass. We've we've we you you're like one of the few business like power couple, celebrity couples that are out there in the public. Did you ever think you would be doing that? Like did you ever think, oh, I'll be the kind of like guru influencer person who's gonna be out there giving advice or giving frameworks or trying to be helpful to people. Is that something you s something you saw yourself doing? Not in the beginning, because I think I just really enjoyed running the company. And then I think Once I realized that

after a certain point the impact I wanted to have, I would It would be required that I learned That skill. And that it would be something that would be transferable to what I did day to day as well. Then that was when I was like, okay, I think this is important for me to learn because what I realized is

I can be as good as I am at running a business, but if I'm not as good at running it as I am talking about it. Then it doesn't really matter. If I can't communicate my abilities then that in itself is a limiter for me teaching my team and transferring that skill to somebody else. Whether it be an audience, my team, a friend, whatever it might be. I feel like when I hear you talk, it's like okay, you've

You've really got a a super strong sense of how you like to operate. It's like you got it together in a system that works for you. And that comes through experience, it comes through trial and error. But let's rewind before you had all that and let you tell your story a little bit. Cause there's gonna be people who are listening to this, don't know your full story. I don't know your full story, to be honest. I love this one tweet that I came out of the research. You said You can't skip the struggle if you want the story. So I want to use that. You can't skip the struggle if you want the story.

So In telling your story, let's start with the struggle. Can you start where you didn't have it all together? You weren't this sort of business terminator. You you were struggling, you were trying to figure it out. Can you start there? Yeah, I would say that You know, ever since I was like a teenager, uh I always wanted to get into entrepreneurship mostly because

I had my father He Was a tenured professor. You know, he did everything by the book and He honestly was miserable. And so

I really just felt like that wasn't the way to go. I just didn't know what the way was. And I got lost along the way. So much so that like, you know, when I was nineteen I had been arrested six times.

I was drinking, doing drugs, I was two hundred and thirty pounds, like My life was going nowhere. I was flunking out of college. And that was when I really when I turned my life around Just

learning how to Live my life in accordance with my goals and values rather than my feelings. And that was really what taught me a lot of discipline. I ended up losing Almost a hundred pounds, I moved across the country by myself from Michigan to California.

And I went to go go to California because I want to pursue a career in fitness. Um, because then I had to finish school for exercise science. Useless. But None the less I had finished school for it. You just said a thing that that like in a movie would have been like sixty minutes and you did it in like sixty seconds is I wanna zoom in. So you were like I'm two hundred thirty pounds. I'm drinking. I don't know what I want to do with my life. I'm basically

Single, broke, and out of shape, right? That's kind of like the start. And then you were like, So then I decided I'm gonna start living life in terms of my goals. And then I did, I lost 100 pounds, and like All right, hold on. I've been there before. I know that there's something that happens in between those, right? If it was so easy to just live in accordance with my goals, I probably would have been doing it earlier. Yeah. There must have been some wake up call. Some sort of moment, some sort of con a tough conversation with yourself. Where you decided to to start making a shift. What was that moment? There was two moments.

Death. First one. Which was like, Okay, I want to stop. I was at a party.

Or I went to a party. It was my friend's birthday party and It was college, right? And so then she's like, I'm gonna invite these people, which had been our friends in high school. And I was like Oh gosh, that's embarrassing because Like I'm pretty overweight now and so it's like I hope nobody says anything, but nobody's gonna say anything because that's really rude, right? And so there's we have this party.

Everyone's drinking. And I'm walking past a a couple of guys I went to high school with and and going to the bathroom and I hear a guy and he's like, What a shame. Oh.

I was like what? And he was really drunk and I was like, What's the shame? And he was like Man, he's like, you know, it really sucks'cause like, you know You were really pretty, but you're just really fat now. Oh.

And I remember In that no, but here's the thing in that moment. Yeah. In that moment I was like the my my internal voice actually was like He's right.

And I was like I hate that. That what he said is true. And so it was in that moment that I was like I don't want somebody to be able to say that about me anymore. And avoiding the situation, avoiding real life is not it's not cutting in. So

I remember I went home and I like You know, like wrote this Facebook post in pure rage. It was like you won't see me anymore. I'm going dark and like expect not to hear from me. Um And I really was just like I can't

overeating. I can't keep not taking care of myself. I had stopped working out. Basically stop working out, start eating like shit. and drink all the time. And if you do all those things at once, like you just continue to gain weight. And that was really the moment that did it for me because I just The fact that my response was

I agree with him. It wasn't like I'm mad at him, I'm anything. I was like, no, he told the truth. And I think that if you don't want people to say bad stuff about you then Change I'd rather just change the situation than try and avoid

People. Yeah, you you type up the Facebook message, you say I'm going dark. Did you have a plan or you just had the fuel at that time? I just had the fuel. I mean and and the funny thing is I remember uh

My plan was this. Just eat half of what you're eating. It it really wasn't. And so like I actually would just Take what I was eating and I would just eat half. And and that worked for me. And it it I lost about 60 pounds that way. And so, you know, the other forty then I got into macros and lifting and all that stuff. And that's really one like

That took me on like where I've probably been since then. The second moment was the sixth time that I was arrested. So I had been out at college. You know

Drinking Blacked out. I wake up I am in my Yeah.

my bedroom at my parents' house. So like my childhood bedroom. And I was like, Oh my God. I don't know what happened. And I rolled over I was in bed, like pounding headache, feel like shit. And

There's a a ticket. For my rest on the Bad side. And I was like fuck.

Okay, so they took me back to my parents' house. I don't remember a thing. And then I'm like I need to go downstairs to exit the house. And so I was I just remember I grabbed the ticket. And I put on clothes.

And I walk down the stairs and I see my dad sitting on the couch. With my stepmom. And I was like Okay. Like I'm ready. He's just

He's gonna just rip into me. And I sat down and I was just expecting him to Just Eviscerate my character.

And instead of eviscerating my character, I remember he looked at me and he was like Listen. I'm not gonna try and control you or tell you what to do or Tell you you change your life? I just want to tell you I'm just

I'm really worried because If you keep doing this, I think you're just gonna end up killing yourself. And It was weird, but in that moment

When he said that. It was like I think when you're young You feel invincible. Right. Like you drink, you feel like nothing will happen. You drink and drive, you feel like nothing will happen. You do drugs, you feel like nothing would happen.

And it was like in that moment I recognized that he was right and that I'm no different from all these other people who have gone down this path. I could actually end up really hurting myself. And I think The second to that.

Was I felt so terrible that I made someone who loves me so much and has invested so much and only made my life better. Feels so shitty. By who I was being. And so

You know, I left and I was like I can't keep doing any of this. you know, like yeah, being fat and working out all that, but like I can't keep drinking like this. I can't keep doing drugs like this. This is not the life I want. And I remember Like what I really thought about was

When does it end? You know, like At eight arrests, at ten arrests, at three hundred pounds, at three hundred fifty pounds. You know, what kind of drugs do you stop at? And so I just really thought about that and I was like, what is my life

Look like in three years and four years and five years if I keep doing this. And That Terrified me enough.

to immediately change. Literally everything. And this is a process again that I just still haven't figured out how to quite Explain but It's like

The moment in that moment. The fear of remaining the same was so much greater than any fear I had of change that I changed the next day. Like I threw out all my alcohol. I decided I was moving out of the house I was in. I lived with six people.

I said I'm not drinking, I'm not doing drugs. I'm gonna work out, I'm gonna eat healthy, I'm gonna get a second job. So I got a second job. So I'm going to school. I've got two jobs because I was like, I can't I need to fill my time with something. Um, you know, I joined a gym And I started you know, in my spare time reading, watching YouTube videos that were, you know, self development, whatever.

I just said I can't be that person anymore. And it was like I was so fed up. with everything and in that moment the pain was so high that it made it fairly easy to change immediately. Because I understood finally that I was so uncomfortable as is.

And it's like I could remain uncomfortable. in the situation I was in, or I could be uncomfortable changing. Only one of those is productive. Right, and only one of those ex turn my life into something that I'm actually proud of.

And so Those were the two moments that really caused me to change my life. Have you ever heard of the Dickens method? Mm-mm.

It's basically uh exactly what you just described. If if you ever go to like a Tony Robbins event, like his his big kind of events Yeah. Um on one of the days he does this. And it's basically the Dickens method is a it's a technique where you sort of vividly imagine you you time travel to the future. You're like, okay. Let's play it forward a year. Let's play it forward five years. I'm still doing it. I'm keep doing it. I do more of it. In fact, because I am increasing whatever the bad habit, whatever the decisions, whatever the whatever the thing I'm doing is. And you play it forward, and then how does that affect you? How does that affect the people that you love? And he sort of gets you to sort of go there.

And You know, like I Uh when I did it when I went to this event it was like um You know, I wasn't really going through much at the time, so it was I was like, I don't know what this exercise for. But around me there was literally people like Screaming. It was honestly a very uncomfortable moment.

Uh, but people were really feeling something in that moment where If you play it forward and you vividly imagine what the future looks like five years later, ten years later, fifteen years later, and how that affects all the people around you. It creates this like emotional charge where it gives you Again. uh the pain of not changing sh increases over the pain of change. And just like you described.

Yeah. Which by the way, I've talked about that in this pod. I I had the I had a similar run rate. I had about uh three arrests in three a month. Really? Yeah, I I also weig two hundred and thirty pounds. Uh and I was uh uh a disgusting person and uh yeah, love love booze and and substances and so had a had a a a similar issue of like After one arrest, you're like, What the fuck, man. What the fuck? I I didn't live with my parents at the time.

But I did I lived with my dog. I had like this dog and I like he shit all over them himself one day'cause I got arrested and I was in jail for twenty four hours and I was like, Oh my God, I'm letting him down. It was like a sli it's so funny. It was like in a very similar Everything changed at that moment. So you and I We are the same. We had no idea. Yeah, we we're similar. Uh and then w what age were you when you moved to California. What age were you when you met Alex? Yeah, I was twenty, almost twenty three when I met him. Wait, wait, describe the first date.

Well they're they're buds first, right? Weren't you guys buddies first? We we were buddies, but we were dating. I don't know how to describe this. There's a term for that. Yeah. No, but not not actually. I'll put it like this. So like Yeah, that's not what I mean. Uh We met on Bumble.

And We went on our first date, he asked me to go to Fro. He was like, Listen It's low commitment, so if we're weird, we can leave. And I was like, I mean, good, because I've been on some bad fucking dates lately, man. Um And so we meet at Froyo. He comes up.

He's not very friendly. I just remember the first thing he was like not smiling and I was like, What's wrong with this guy? Uh we get in line and he's still not smiling and I'm like I'm like cracking a joke or two and I'm like this guy's tough. Uh Come to find out later the reason he wasn't smiling is'cause I have a full back piece. Like my whole back is tattooed, angel wings, which is traumatic and embarrassing, but uh it's because I got it when I was eighteen and high and drunk. Um

And so he saw that and was like, Oh man, one of these girls and uh So apparently he was judging me the entire time for that that tattoo. You and Halloway. Don't judge a book by its cover. Don't judge a girl by her back. All right. That's awesome. Too painful to get undone at this point. Um And so Yeah, we end up sitting down for froyo and

Honestly, uh, you know, once he had a few bites and I think got blood sugar in his system'cause if you know Alex, you know his blood sugar is the uh attached to how much food he's eating. And so I think once he ate, he was like, Hi and I was like, Oh, okay, you're a nice person, let's go. And uh We actually just started talking about business. Really picture this, right? Like I had moved out there.

I Was only focused on my career. I didn't have friends. I didn't have a boyfriend. I had gone on dates, but I did not find anybody I had liked. So I was really just me and my Work. And I was trying to figure out like what do I need to do next,'cause I was doing online and in person training. And then I met him and he actually had the same story. So he had moved out from Baltimore, Maryland.

to pursue fitness, opened up a few gyms. Um and was trying to figure out what he was gonna do next is his next step. Didn't really have a lot of friends. And obviously didn't have a a girlfriend. And so

We didn't really have anything else to talk about. And so we ended up actually like eating for you, and then we went on like a four hour walk and we talked about work the entire time. And I remember

Leaving the date. Because You know, it's probably us was like three PM. He had a dinner at like seven. And so he actually asked me, he's like, Will you come to the grocery store and get stuff for this dinner barbecue thing I have? Uh and I was like, Sure.

And we just Talking the whole time still about Business. And Once we got done, I got in my car and I was like, That was the weirdest date I've ever been on. Like it wasn't even like a date.

We didn't talk about anything Romantic at all. Um, we just literally talked about work, but like all I know is I want to keep talking to that guy. And I went back and I told my roommate, I was like, I'm just so interested. Like, He's the first person I feel like I've had an intellectual conversation with. since I've moved here.

Yeah,'cause most of the time when I go out on dates with people, it's like They had zero ambition. They had no idea what they want to do with their lives and It was California, so that's like a little bit more of the culture. Um They also just didn't really like the fact that I was as ambitious and working as much as I was. And so

To meet somebody who actually saw that as a pro. had the same things in common and wanted to talk about them. It was like the most enjoyable date I've been on. And then I think He called me the next day and was like, Hey

Do you want to like work together? And I was like Sure. Sounds fun. So I went over to his house and I like brought all my stuff, my laptop and everything. We start working and That just like slowly

kept happening over time. And And then one meeting. Yeah, in a board meeting, for sure. We kissed in a meeting. No, I mean it was just like We had s shared interest.

Uh, you know, I didn't know when I met him that uh he was also Persian, so then I found out, Oh, we're both our both of our fathers are from Iran. We have that in common. Um you know, we had both moved out there on our own. We just had a lot in common that I was just not expecting and Because of that It just felt like for the first time in so long I had somebody who

saw reality the same way I did and Who didn't want to make me into somebody I wasn't. You know, like I've always ever I can't even tell you how many times I've gone on dates with guys and they're like You seem really great, but you're kind of weird or like you're like a little obsessive. And I was like, Yeah, I know, but that's I don't really want to change that about myself. Um Or they didn't like that I worked as much as I did. And I like working. So I'm like, I don't want to apologize for that. And he was the first person I met that

saw all those things as pros, but everyone else had seen as comms. And not only that, but Yeah, I think I saw the same in him with a lot of things that people have complained about. And so You know, about a month in, he's like, I feel like you should not

start this online thing or do this in person. I was basically like, do I open up my own gym? Or do I partner with this woman who wanted me to be her business partner online? She already had a successful business. And so, you know, four weeks in I said screw it, like There's nothing to lose to go do this with him to start this business because

I'm twenty three. Like if shit doesn't work, I'll just go back to what I was doing. But I will regret if I don't Take this chance to see if it could work. And the thing that you're just talking about that's gym launch.

Dem launch, yeah. And the first you know, year and a half was literally just like He'd be at a gym, I'd be at a gym, different locations, different um states and we'd be filling them up. And then we'd call each other every night and be like, Here's what I'm doing, here's what you're doing, like

Just like best practices. And that was like the first year of Dating. Which was like I we're living out of extended stays.

We're in different states. We're trying to launch these gyms. I'm twenty three walking into some dude's gym being like, I'm gonna fill up your gym. They're like, What is going on? Right. Um And so You know, the first year of our relationship was just like

The eating shit phase of business, but doing it together. What do you mean by the eating shit physical business? You know, it's just like when you start anything, when you have no skills, you're trying to accumulate all the skills at once. You don't know what you're doing, you have no clarity, and so you're just like throwing shit at a wall. You're probably like not taking care of yourself the best you can because you're so focused on just trying to make this thing work because you're kind of just like, in survival mode because you know, at that point

we have like no money as well, right? We've like pretty much burned through all the money. Then his business partner gets access to the bank account where we've been putting all the money from these gyms, steals the money. I mean it was just like thing after thing. Weren't you guys like living at your parents' home as well? So we've lived a cute few different places, but then at one point we moved back to my parents' house for two months.

At another point, we actually lived with one of the clients of one of the gyms, which was Actually more thought. You know, I thought I was disappointed before, but now actually somehow this is worse. Yeah. So So you guys uh I wanted to ask you guys this. So you've Jim Launch has a story I like Alex has come on the pod, he's told the story about like how it You know.

went from like figuring it out to the business partner stealing the money and then he it scales it. If you want to listen to that. There's an episode we did with him. Yeah. What's the like I've seen this now a couple of times where sometimes you just get a business to work and you just crack a nut and it scales in a way That sort of breaks your brain. And you may never you may never even see that again. So I think you guys did something like

Year w year one or year two. It went from like zero to like Something like in the range of fifteen million by year two, something like twenty four million. I don't know if that's run rate or Realized revenue, but Realized revenue. Realized revenue. That's an insane

Prove. What's the summary of why that worked like that? Cause that's not normal. Could I go do that same business today? So for example If you started from scratch today, if somebody w if the next Alex and Layla were out there and they wanted to do gym launch today.

Could they go and do the same model, meaning? Is that problem still exist? Is the model still great where you're getting upfront cash from these gyms? But for doing that you know, kind of this quick turnaround service. Or is it saturated now and there's too much competition? Maybe the ad rates have changed, right? There's always these moments in time where businesses can succeed. And then 10 years later, you couldn't start that same business.

It there's a new version of that business that those same people could go start. Could Somebody as talented as you guys start gym launch again today and have the same level of success, in your opinion. No. And why is that?

Because the market has completely changed. I mean think about Covid. That completely changed the nature of fitness. Ozempic has changed fitness. I think that the future of fitness looks completely different than boutique gyms. I think that

You know, I mean I know what they're doing in the background in the labs, which is like people are gonna be able to soon take a pill and they're gonna be able to control their appetite. Why do you want to go to the gym every day if you could just be skinny? Lots of girls don't give a shit. So what does the future fitness look like? Well, I mean Lifting weights is a great long term way to sustain your

Body weight. And to prevent you from getting fat. But short term. intervention food is always ideal, right? And that's gonna have more of an effect on the short term, like long term muscle mass, short term food.

And so I think that what you're gonna see is A lot more people just continuing to lean into what they always have, as humans do, which is uh short term. things at work, which is eat less, which you can do with a pill. Um and they happen to have pills that are gonna come out that are

You know, I think a lot of people are um probably deter away from like Ozempic and stuff'cause it's a shot. And it's like, Okay, well the moment that they have a pill that can say, I'm gonna have I only need to have twenty five percent of my normal appetite today. Well then think about the cost of the gym, especially for females. It's like

You have to get up. You've got to put on your outfit. Maybe some mascara. You've got to look okay. You have to drive there. You have to go there. You have to do things that feel hard, and then you have to leave. Or I could just take a pill and not be hungry and not eat. So I don't have to work out to worry about the food. So I think that all those things have changed just a lot of companies in the fitness and health space in general. I can say that because We have other companies in the portfolio that are in that space. And I also talk to a ton that are.

It has definitely changed the nature of that landscape. You guys, um you know, Alex did something kind of interesting. I think he said that like you bought him like a fifty thousand dollar consult with like Grant Cardone or something like that, like right before The sale of Jib Launch. Where he published that, which was like pretty wild, where he was like, Here's how much cash we have, we're thinking about selling. And then I think there was even like a part two and a part three after the sale. Uh and so it was pretty cool to see that that was all public. Uh what did you guys and

What w three parts. What did you do with the money once you uh sold? Like did you have a plan on where to invest it, or did you just let let it sit there? The second thing is did you have like a ten, twenty year plan on where you wanted to go or is it like I don't know what we're gonna do, let's figure it out. And then We'll answer those two first. Yeah, yeah.

The idea with the money was we can put it, you know, in Stocks in the short term. We had some real estate deals. We have one person we do real estate with specifically that we put some of the money in. And then the rest of it was For acquisition.com. So it's like, how do we get our first few deals? We're gonna use this as like the nest egg to Invest in those deals.

Part two to that is we knew we wanted a headquarters. And so You know, the headquarters was obviously I mean it's almost forty thousand square feet. It's quite expensive. So That was a big investment as well. So Most of the money has gone into the first few deals plus the headquarters.

The rest of the money we put in real estate deals that you know, have done really well for us. So And then I would say remainder, you know, stocks. We have an O shit fund and things like that too. But um You know, most of the times we wanna be investing in How are we gonna

Use the money to grow acquisition.com faster. That's really what we think about with the Cast. Did you have the idea of that before you even sold Jim Launch? The day after we sold, we started acquisition.com. That's crazy. Yeah.

And what was the genesis of that idea? I'm sure many conversations, but like do you remember kind of what the what would you call the origin? Really, it actually started with What am I best in the world at? What is Alex best in the world at? Right. That's one piece. The second piece to that is

What is the ideal day today for Алеcks to sustain So that he knows that he's not gonna wanna quit because the work he's doing with the people he's doing it he doesn't like. Same for Layla, right? So it's like Do things you like with people you like.

That's how you sustain performance, in my opinion. So then what does that look like for each of us? And then what is a business? That Where there's room in the market.

that we can capitalize on both of our skills when we build. And so You know, Alex is you know, he's constantly thinking of ideas. He's like, Well what about this? No, no, no, no. What w were some of those ideas? Well, I mean, there was like we could go direct to consumer, for example. You know, we thought about, you know, the fact that he's so good at generating demand.

And I can build a big team that's really like well positioned for a direct to consumer business, whether it be in beverages, whether it be in food, or whether it be in You know, some kind of like commerce. Um that was an idea. Um, another idea that we had was

Um essentially like An actual like health business. So like building a platform For You know, people who wanted to lose weight or get in shape.

using some kind of technology. integrating in AI. Um and then everything we know about how to actually help people, um you know, lose weight. But then we saw, you know, a Zempit coming down line. We're like, Fuck that. Um And so those were two like

strong front runners, I would say. And they were things that I could get passionate about. Um But then acquisition.com was the one that I just kept coming back to because I was like, you know The reason that I wanted to sell Jim Launch was I just asked myself, do I want to be in the fitness industry for the next ten years?

And the answer was no. I was like I'm And I understand that I would probably get better returns on my time staying in the fitness industry because I know it so well. Right. We're already a market leader. We know everything. We've come up in this. I've been doing it since I was however whatever age. It's been Over a decade now.

So has he. We have a s a a competitive advantage here. But I was like I don't want to be in here this the rest of my life. And the reasons for it, to be honest with you Are just like the networking into the fitness industry felt.

Less appealing to me than the networking in private equity, for example. And the people that I would be competing with. And I think that who you compete with or who you compare yourself to Right.

Is Like that. sets the tone for who you wish to become in many ways. Like If I get in the room with Whatever, you can just say Jeff Bezos or Elon Musk or whatever, and I have a company that I aspire to have like theirs, like I'm gonna compare myself to them.

Uh versus when I met some of the people had some of the biggest fitness businesses. They were not Though I could compare myself to them, and yes, they had done better by many measures, they were not necessarily people I aspired to be like. And so I just wanted to be in a different industry to get around different people and to acquire different skills. that I didn't think I was gonna get staying there.

And so when we looked at acquisition.com I was really like What kind of person do I want to be? And then what kind of business will allow me to become that person.

And then what kind of people do I need to have on my team? To build that type of business. And so I think a lot of it actually like circles back, you know, as we're talking about this last night to like Who do I wanna be? And

The business is just a vehicle for personal growth in many ways. And so for both of us I think that We are better entrepreneurs and better people. for building acquisition dot com. And I think that some people choose businesses that make them worse, not better.

And This one. is definitely one that I think helps maximize our skills, but also gets us to be better people. You know, Alex has shared publicly

Many times like he was like when we first started acquisition.com, he kept saying, like, I really want to be more patient. And You must be patient for this business to work. And so because

He wants the business to work. More than anything. Right, then he will learn to be more patient by As a as a byproduct of that. And for me

in order for acquisition dot com to work. And not just work work but like really fucking work like win and be number one? I have to learn how to make content and be public facing and Be a better communicator overall. And so

It's not that every day I wake up excited to do that, but it's that I want to win and I know that In order to win, I have to learn these skills. And so It forces me to learn those things in order to achieve my goals. That's pretty badass. I yeah, that makes a ton of sense. Everything you said uh makes makes makes sense and is very aligned with how I I view life. Yeah. I I I always say it's

Is a vehicle It's a it's a means to to have the type of life we want and become the type of person you want. And then you think then you think, okay, if this is a vehicle, who's getting in the road who who do I want on this road trip with me? And that's your co founders, your partners, your investors, who are the people I want in this car ride. 'Cause we might get lost somewhere along the way and I've really gotta think that through. And I think It's very important to have that mindset because I think people think the vehicle is the end itself, and obviously it's not. You see that because people do one vehicle and then they then they need the next. They need the next. And why do you keep why does Jeff Bezos need to go

to his rocket company and why does he need to buy the Washington Post? Why do they need to do these things? Because That business the business itself. was um was just a it's like a piece of workout equipment. It's like going in and you see the bench press. It's there To for me to get the work out, for me to get the gains. Uh it's there to provide some resistance for me to get what I want out of life.

Yeah. I have a question for you about acquisition.com. So you guys you said you've you've seen I don't know a thousand businesses. I was talking to you before we started recording about Businesses that surprise you because they're just kind of kick ass. Maybe it's a business that you had maybe a category you hadn't heard of, or just a business that people would overlook. Or maybe would underrate. But and you don't have to name the names of these businesses, but I'd love for you to describe a kick ass business that you've seen somewhere along the way at AcquisitionCom, whether it's one you guys bought or not.

Yeah. I will say this, um, more businesses suck than you would think. So what I learned in starting acquaintances, uh in starting acquisition.com was just the amount of bad businesses there are. What's the profile of bad and good? Or like what's like What's that threshold?

I I think product market fit is not It's exists on a scale. It's not yes or no, but like Poor Like weak. Product market fit.

Wick Founders. Um Low margin. Low potential. You say weak with so much disgust. I love it. Yeah, I just need that clip. I did that's my alarm clock when I wake up. I because it's like I'm like let me fucking help you, but like I can't. You're just fucking weak. So

Um It frustrates me'cause I'm like Tough love, but like this isn't gonna work. And so I would say like that has actually been more surprising than the good businesses that I've seen. It's just the amount of businesses that I'm like wow it's

It's shocking it's still here. You know, or it's like wow, I can't believe this person actually started this thing. Um And and so there's been a lot more of that, I would say in terms of businesses that are really cool. And you know, I think have inspired me in in different ways. It's people that are actually able to take something

Traditional and make it and innovate it. You know, it's like I always find those businesses really interesting, like You know, it could be anything like publishing books and turning that into, you know what, instead of publishing books the way that we have been.

Instead, let's learn how to use AI to publish books. And make the entire process automated. That's really cool business that I've seen. Play out. I think that looking at uh school, which people know that we publicly associate with, like that business I have a lot of admiration for because

of if you look at it by all Like By all Stats. And metrics of that business. It is

Mind blowing. And that they've been able to take this element of community that people only really feel in person and bring it online. To such a degree that now people also are doing it offline and on like it's just

It's been really cool to see the network effect. Uh Through that business. And then I would say like More traditional businesses like bakeries.

And how like traditional bakeries that make, you know, cookies or whatever. have integrated tools like AI and technology to learn like Okay, what type of cookie profile is this person going to want to order and like

Just ways that people can integrate that kind of stuff, like technology into Like traditional businesses. Do bak bakeries that use AI, is that was that a thing? Do we do does that ch does that make it better, really? I think that Is all perception. Like I think value for c customer in many ways, it is perceived, right? And so it's like if you feel like this cookie is custom to you because of this technology that they have and they are able to like make it right there for you, then I think yeah, people will pay a lot more money for it, that's for sure.

I mean I would, but uh Clearly,'cause it works for them. So I think those have been some of the cool businesses. What about this workshop stuff? So you guys start I start seeing ads for these workshops and I think you guys have probably done like I'm just doing some napkin math, like something like ten million dollars of workshop

revenue, which is was a little bit surprising to me'cause I was like, why are they Doing this is like a lot of time for the the the map being supposedly uh uh or you maybe said this, I think eighteen hundred people have gone through an acquisition dot com workshop and I think on your website it's five thousand dollars. And by the way, I know a couple of people who have gone and they said it was great. So that you know I'm not saying it in a bad way. I guess what I'm saying is I was surprised you guys are doing it. I was like, Oh no, this is actually great um you know alignment, right? They like to teach It's deal flow at a like a proprietary level. And then, you know, it's a win-win. Other people should get some value out of this. They come in and they get to focus on their business. What I wanted to ask you about is.

What's the number one recurring problem you see? 'Cause now you've seen eighteen hundred founders come in and they're they paid a bunch of money to come to the workshop'cause they got a problem. What's the common problem you see and what's the solve? Um that that you that you think would help most of these businesses. The number one problem that I see is not

Technical. And it's not even a practical problem, but more of an emotional problem. Which is I think founders lie on one of two spectrums, which is either They're incredibly impatient. And because of that

They never wait long enough to see if any kind of strategy will work. They just change it. And so it It doesn't even they don't even give it a shot to see if it'll play out because they change too soon. And on the other side you have founders that are

Too tolerant. And they basically just want to be liked. At all costs. And they don't make good decisions for their business because of that. So I actually don't think that any of the problems that I see are technical problems.

Is there a way to put like a benchmark? Like, for example, are you talking about like You know, you should for a lot of people they should be waiting a year to get to get results. Or You know, or they react in weeks when they should be reacting in quarters. Is there a Yeah. I think a lot of people think that waiting a quarter is a long time.

And that's probably the issue. uh they think, oh well, I waited three months. And I'm like, try waiting eighteen. You know, I have things I'm doing at acquisition.com that you might ask about the workshops. I'm like, All right, well if you see what was gonna come out in the next four months, which I've been working on for the last twelve months, you'll see why it all makes sense. Right.

But a lot of people I think One, don't have the ability to wait that long, and two, don't even know how to build something that takes that long. Your husband seems like a guy who is stereotypical of a person who You know, you said that he Mm.

He said, I want to be more patient. So I assume that means he didn't have patience. Uh has he been w able to like go with the flow of like, look, we're gonna we're we're planning eighteen, thirty six months out and that's what we're working on. So you're not gonna see 'Cause I know when I'm working at something I'm like, why won't I see results immediately? We're investing all this money and all this time and we don't have fucking results. Why aren't you out launching an MVP talking to potential customers? Don't tell me about it. You know what I mean? Like that's like how I feel. And I think that's that's why I understand probably how he feels. Yeah, I think something I've gotten a lot better at is Showing him progress. So because I

This is what I realized, which is just patience is just figuring out what to do in the meantime. The reason I can be more patient is because I'm fucking busy doing all the shit to make the thing happen. Right. But if you're not the one in there. having the meetings, hiring the people, recruiting the stuff, putting the tech in place. Then it feels like it takes a long time. And so because he sits more on the like demand gen side and doesn't have the whole team rolling into him.

He doesn't get that reinforcement on a daily basis of seeing that progress. And so I look at myself as like my job is to Tell him of all those things that are happening. To show him look at all the shit that we're doing and where it's gonna end up and how close we are. And it might actually happen faster than we thought.

And so I think that a lot of the times People feel impatient because one, they're not seeing progress. Because maybe they're removed from what's actually occurring. I think that the second thing is

You know, I always look at it as For him and for anybody. If he's not You know. in the day to day operating, making the plan happen, then he's working on something for the future. You know, he's writing books, he's making content.

He's you know, oftentimes when we have really big problems in the business, maybe we'll have two or three at the same time. It'll be like okay. You know, I know that these teams don't report to you, but I'm over here solving this problem. How about you solve this problem? And then you know, we're gonna communicate about these things. And so it's like I also think he can do special projects.

That's something that like you do in the meantime. Yeah, I think from a traditional standpoint I think What's really good about him in many ways is that he's impatient with things. And so because of that, uh I'll I'll say this, okay. I think it's good to be patient. It's also good to be impatient with things. It's just like which one.

And so I think what I love about his impatience at times is that he's able to isolate it to the way that people do things. Why does it take this long to do a video? Why does it take this long to talk to a customer? Why does it take this long to build a department? And he questions things that other people just accept as fact. Because somebody else and some book

Said that's how you do business. And I love that he questions those things and is impatient. about how inefficient things in business can be. I think that's fantastic. Naval Naval has the best quote on this. He said, impatient with actions, patient with results. So impatient on the inputs, patient with the outputs is the the sort of the unstoppable formula. A hundred percent. It's an advantage because I and patient with results, I can also be too patient sometimes with the action.

And so I have learned from him. I think we do a good job learning from each other. I think that he's learned from my patience with results. I've learned from his impatience with inputs or actions. And that's benefited the business a lot. We gotta ask you, we used to say we have seven Female listeners.

And I think as the podcast has grown There's now. Tens. out there and um I'm sure you get a lot of women who you look up to you, who ask you for advice. Um, so this is the, you know, here's the mic.

And if there's a female entrepreneur watching this, what's your message to her? You might think that because you're female, things are less fair. Or that people will treat you differently. Or that business is harder and there are things that you're gonna have to overcome.

And while all those things might be true in certain circumstances and certain times And that some are irrefutably true. The question to ask yourself is, is this useful? You know, a lot of people come to me and they say Isn't it hard to do business because like

You know, you're a woman and you're married to Alex. Like, do people take you seriously I'm like, I don't know. Is that a useful thought? If it's not, then why the fuck would I focus on it? And so I just completely Um abolish any of this like

female entrepreneur What's it like? Stuff. And I've made one video about it because I wanted people to understand Yes, there are differences.

There are also advantages. So like you can either focus on what sucks and what's worse, or you can just focus on you know, maximizing your strengths and m taking advantage of the advantages. And also just choosing to focus on shit that's useful. You know what I mean? Like

uh we can all point to reasons as to why people treat us differently. We can also just like be better. I'll tell you this, which is like a a joke between me and Alex, is like so many people have tried to break us up. Um and the the key line is always like Layla, you know he's he's suppressing you. Um Because He's

You know. Alex. I always just like have this internal dialogue which is like And that is why you will not win. Because you see s people that are powerful as having an ability to suppress you.

when I look at people who are powerful as what can I learn from them to be better so that when I'm in a room People would not say that about me. They would not say, Oh, you're being suppressed. Like what do I have to learn to be a person who is more powerful? And I think that A lot of women. throw around these terms and do these things, but it's like

You can either look at it as Um As a disadvantage or an or something to be an advantage to you. You know, I think that I've had to probably accumulate more skills that some men would not have to. Because I've had to learn to be better at things.

to be taken seriously in certain ways. Right. Or I've had to, you know, accumulate emotional skills that I wouldn't have to otherwise. I think those are all pros. And like if I have more challenge, I also get the opportunity to acquire more skills. So

I just don't look at it like a bad thing and I look at it if anything like a good thing and I Any thoughts that a arise that are not useful, I do not focus on. Ever. You're the shit. Perfect answer.

You're you're you're you're fantastic. You know, you guys are um What an interesting couple. You know, typically like Uh Like my wife and I are are are fairly different in in a lot of different ways.

Um, but you guys are both uh very similar in your intensity, but also in your way to like Uh come up with like interesting ideas and interesting theories as to why the world is the way it is and how you're gonna react to that. Uh most relationships I don't think are like that. And so it's so f it's so funny. You guys are both like Highly intense in in great ways. Um it's so fascinating. I'm gonna make that my new profile. Highly intense. Yeah, we'll LinkedIn endorse you on that. Yeah. My best compliment to you is uh to you guys is I think what's really admirable about your relationship is that

I think you both have a very high desire to self improve. And um it takes me back to like one of my favorite quotes about relationships is uh You know, I'll take care of me. For you and you take care of you for me. Whereas I think most people approach relationships as the opposite. You're supposed to take care of me and I'm supposed to take care of you, and you're never doing enough for me, and I'm never doing enough for you.

And I think it is Really great. You guys are an A plus example of two people who say I'm gonna self improve In all the ways that I can. And that's what makes me a great partner for you. Yeah. And I think honestly I just wish for everyone that listens to this to take that.

to their business relationships and to their personal relationships because I think it applies to both. All right. Well thanks for coming on. I appreciate you. Thank you guys. That's the episode. I feel like I can rule the world, I know I can be what I want to I put my all in it like my day's off On the road less travel never looking back

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