Money Making Experts: This 3-Step 'Offer' Formula Makes $20k Per Month! Alex Hormozi, Codie Sanchez, Daniel Priestley

SPEAKER_1 (0:00)

Crystal clear waters, white sandy beaches. Stress doesn't exist here, but back home, an undetected water leak can turn into costly water damage. Moen Flow detects leaks and stops your water main automatically from anywhere, even paradise.

Steven Bartlett (0:15)

I've got three boxes here. One of them contains $1,000, one of them contains $10,000, and one of them contains $100,000. And you three are the avengers of entrepreneurship on the Internet. So you're going to tell me what you would do with that amount of money to build a scalable business.

Alex Hormozi (0:29)

So do I get to give the money? Is that how this works? Yeah. Okay. So I would.

Daniel Priestley (0:34)

Three highly successful entrepreneurs with three very different perspectives. This is the ultimate master class in creating and scaling your businesses to make millions.

Codie Sanchez (0:43)

There's two paths to making money quickly if you don't have any. And the first path is go find the best entrepreneur and go work for them. Learn as much as you can.

SPEAKER_6 (0:50)

I totally agree. Like Kim Kardashian was Harris Hilton's assistant. And she learned the playbook for being famous and then she took it to a new level.

Codie Sanchez (0:57)

And then the second way is high-risk but highest reward. Go do it yourself.

Alex Hormozi (1:01)

And the first business that you start, you're going to be learning the game of business even more than you're learning the business that you're doing. Things like you wait eight seconds after you ask someone to buy, you close 30% more sales.

Codie Sanchez (1:11)

And there are actual studies now that show that if I am a woman, you make more money if you do one thing. You wear makeup, which is wild.

Steven Bartlett (1:18)

And what about making content?

SPEAKER_6 (1:20)

Building a content empire that builds your business. This is brand new to a lot of people.

Codie Sanchez (1:24)

And so a lot of creators online don't think about how do I monetize on top of this.

Alex Hormozi (1:28)

Right. And I can name some TikTokers with 50 plus million followers that have had failed launches because they have used, but they have zero influence. And in order to create influence, there's four things. So number one is...

Steven Bartlett (1:39)

Okay, so let's go on to simple, actionable frameworks.

Codie Sanchez (1:41)

So I have a framework in order to raise money.

SPEAKER_6 (1:44)

I have a framework for pitching.

Alex Hormozi (1:45)

And I have one that can increase sales by 20 to 40%.

Codie Sanchez (1:47)

And then if you want to know if your business is going to make you money or not, we use the mode strategy.

Alex Hormozi (1:52)

There's a lot more.

Steven Bartlett (1:53)

So let's go through all of this. Codie, Alex, I feel like I have waited a long time to have this conversation with you three, because in my mind, you three are the avengers of entrepreneurship on the internet. And for very different reasons, you do very different things, you have very different perspectives, you run very different businesses, but that is why I've been so looking forward to this conversation. Before we get into some of the technical stuff and really specific topics, I wanted to start with a more broad question. You're all entrepreneurs, you all speak to and educate millions of entrepreneurs on your own channels and your own rights. And the question I wanted to start with is, from a psychology perspective and a mindset perspective, what does it take to be an entrepreneur? And can anyone listening to this right now become an entrepreneur, a successful entrepreneur? I'm going to throw that question across the table straight away to Alex.

Alex Hormozi (2:53)

So starting with the second question first, can anyone become an entrepreneur? At the basic level, if a kid can go around the neighborhood and say, hey, I will mow your lawn or I'll rake your leaves or I'll babysit your kid in exchange for money, fundamentally, it's entrepreneurship if we're just taking it at the most basic level. And so what prevents someone from doing that? Basically, if you can get a job, then you can be a self-employed entrepreneur. And so I would say that is like my baseline number one. From a behaviorist perspective, then you get into, okay, I want to learn about the game of entrepreneurship. And then there, it's basically a lifelong journey of how much leverage can I apply to this at all pieces of the business. Because even going around knocking on a door and say, hey, can I be a babysitter? You have all levels of this, all functions of the business still exist there. They're just done a lot of times simultaneously and at very low leverage. So you have some level of advertising, you went up, you knocked on a door. You have some sort of presentation that you give in exchange for money and they agree. Okay, great, we have a selling component to it. Then we have some sort of delivery that's going to happen, which is like, I might show up with my human body and then take care of this other human body and make sure they don't die. Right, and probably have a couple other things that I might clean the house while I'm here as a little value add. And then fundamentally, it's like, that's a complete cycle of exchange and then maybe they leave a review because you start to have a website but that starts to create leverage and then you expand from there. But I think fundamentally at the most basic level, that is entrepreneurship and then everything else is just more.