What I learned from having 500k stolen from me

How I got here…

21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.

Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).

To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.

You either get an epic outcome or an epic story. Both mean you win.

Keep crushing. May your desires be greater than your obstacles.

Never quit,

Alex

*FULL DISCLOSURE*
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.

[Jeffrey_Edward_Epstein]

I like how he says lesson learned. Even though he got hurt, he still had the energy to keep going. A lot of take aways from these videos as always.

[dirtea]

Only a real boss can handle that sort of loss early on

[DCfreerunner]

He spent $500k learning a great lesson and learning who his true partners in business are. He's worth $100m now, I would say it's worth it

[eharrison]

To hear you say this really hit home for me... I had a similar experience a few years back andf it destroyed me because I didn't know how to handle it and I was reliant on a lowkey Fraudster too... Seeing how you just moved through it gracefully gives me hope for me too... Thank you for sharing Alex!

[dool]

The other dude didn't realize how much more he would've earned in the future being Hormozi's business partner...

[RaxflexCA]

I hope he sued the fuck out of him because it sucks letting these scammers get away with stuff like this.

[sisi]

People are nasty. Be careful everyone!

[schwarzmann]

Dam idk how Alex is so composed if some guy stole 500k from me I would be out for blood

[MalluStyleMultiMedia]

I also learned my lesson man. I lost 10k and spend another 2k and 2 years trying to get the money back legally. Then the lawyer was like I need to spend another 5k to possibly get the money back. Still no guarantees. So I kind of had to stop it at that point.

[botanicalbiohacking]

Who kind of hopes he hires a few ninjas to beat the lunch out of that guy?

[cjguitar]

Currently going through something similar. Got lazy when I started a business and found a business partner who could run things while I focused on growing the business. He’s currently accepting contracts behind my back, the business is almost bankrupt, and I’m about to be homeless. Be careful who you let in your life people

[hiralpatel]

Something similar happened to me. Big turning point in my journey. Changed me in so many ways for the better. 😊

[konstantinnaumow]

If some one has a background of fraud. Never ever trust him!!!! Izs like giving a cheater a second chance. You will get fed over.

[marcelcicatko]

Hormozi said in his book. That another partner stole 47k from him after he sold his gyms. What is the story there?

[chlorophyllmorelikeboraphy]

Holy heck. That sounds stressful. Great attitude about it but I still hope that guy gets his…

[prestonpetterson]

99% of people would have gone back to the 9-5 after that

[brianpistolwhip]

What a chump. He could’ve earned 100 times that by being honest and working for the benefit of their partnership.

[blueoceanzstrategy]

Summary: you realised you had the skills to rebuild

[Lyzaaarnew]

How do you get the capital at the start to even afford real estate and locations for gyms, can you share more on that? I don’t need advice on 10>100mil but more £5, 000 >£50, 000

[adnanazmi.]

In life what I learnt is that if you are good and honest, God literally guides you. Life is significantly easier you are guided to easy opportunities and you are guided to knowledge. Just be a good honest person and your life will be fulfilling and easy.