4 steps to start a business anyone can do

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.

[LuisGarcia-rogo]

1. Get an articles of incorporation
2. Take articles to bank & open a bank account
3. Connect payment processor to bank account
4. Provide value to a stranger in exchange for money 💰 🤑

[cxa]

Seems like step 4 is the main one every entrepreneur needs to do.

[zacharyjacobs]

could you make a full length video on this subject? I think it will help a lot of people

[jairambriz]

It really is that simple we as humans just procrastinate terribly

[tarrantcountykid]

That 4th step is the kicker, provide value to a stranger. I think you should start with that one as a sole proprietor

[Ali.lion]

Being an entrepreneur is not easy guys but don't be discouraged.  Here's good points.


1. Solve a problem and offer a better solution. So dont think of an idea. Think of a problem to solve. This is very important.

2. When you have a problem offer a solution that is differentiated either lower cost or better quality

3. If you don't have large reserves of money it will be hard to compete in mature markets. So target fast growing markets or find a way to offer a differentiated solution

So live in the future and build something you really want and it solves a problem.

And have mindset and visualization where you want to be do this daily. You have to read: Think and grow rich, and 7 habits of highly effective people.

[smokingcrab]

The providing value part is what people struggle with the most. That's what the business really IS. The articles of incorporation, bank account, payment processor are what the business NEEDS not what the business IS. I would love to see more videos on how to come up with business ideas to provide value.

[pamelah]

It is a lot to get your head around when you've never done it before, though. In some ways it is this simple; in other ways it's overwhelming and intimidating and full of conflicting information and lots of forms and fees and learning what you don't know.

[TheTechCguy]

You can’t start a business without anything good to sell either! 💯💯💯😆

[linkie]

Wow! This guy's advice kicks procrastination to the curb!

[EconomicPearls]

You don't have to incorporate. You can open a sole proprietor bank acct and operate like that indefinitely.

[GorzaanFan]

They’re talking about spending money. You’re talking about making money. Business = money coming in

[thisoldrelic]

I would argue the only thing that is required is the last step. You yourself can be the bussiness for tax purposes. All that is needed is to file for taxes if you make over $600 the first year.

[Hug_life]

I did 3 of those things including a logo, website, vista print order for marketing material, embroidery shop order for 25 shirts and hats all before the end of a day one time when I was VP of Sales for a shady company and decided to stage a coup and take 21 sales reps, a manager, a director and my business partner and start our own company. The next day they all arrived at an Airbnb and I had their new shirts and hats, a thank you card and an advance on their first 2 weeks pay in cash on their seats. Off to the races!! With things like square space, legal zoom, vista print shit and now chatgpt, there’s literally no excuse to why launching a business should take more than a week or two to be honest. But when you have other peoples livlihoods who are putting their faith in you to deliver… all this stuff can happen incredibly fast!

[bichoroca]

Getting it done asap gives you the edge over all of the people that at perpetually preparing

[ICUSocialWorker]

Or network and jump on a startup with a strong foundation and negotiate equity. Ensure the company has a strong board of leaders or it won’t get funded. Don’t be scared to talk to someone about their company and you don’t have to attend a top 10 MBA. My MBA is from a private university but I jumped onto a startup with a founder who had an MBA from a top 10 school and that alone proved my value.

[MP-vfqz]

4 steps to start a business:
1. Get articles of incorporation online
2. bring articles of incorporation to bank to setup a bank account
3. setup payment processor (Bank) to be paid through the business
4. give value to a stranger in exchange for money.

[Journey-with-James]

This is why I’ve been a fan for 2 years Alex 🇦🇺

[charcoalelement]

You just do the work. Build a good reputation and keep working.

[Edmond-mmnj]

This is the main 4 step that boost my business up