Alex Hormozi recently sold his three businesses for a total of $62 million. He also got rid of his two exotic cars and sold his $4 million mansion in Austin, Texas. So, aside from an Acquisition.com hat, some flannels, and some Breathe Right strips, Mr. Mozination was left with almost nothing in his hand. Why did he do that? What was life like after the fact? What did he learn from all of it? What kind of results have he achieved? And what is he doing now? Keep on reading this to find out more.
So you may ask, why did Alex do it? He answers, “It felt very heavy. It felt like I had all these material things that were weighing me down and taking my attention. And I’ve always lived my life in seasons. I had a season of college and then worked a consulting job. I had a season of running gyms. I had a season of licensing gyms. And the season that we’re in now, which is we just find service-based businesses or e-learning businesses doing one to ten million a year and invest in them, right?”
So Alex and his wife Leila let go of everything, traveled around, living their lives out of a backpack, and tried to make an important decision: Where should they stay? Do we buy their own home, or just rent one? Their discovery, however, was interesting. While the rental life has its advantages, he did miss the perks that come with having your own home, like building long-lasting relationships with your own neighbors and friends you see regularly. Additionally, you can’t make any personal changes to long-term rentals like you can with your own home. After all, it’s still technically not yours. Thus, you can’t change it according to your taste.
And Alex admits, “I think I overcorrected. I went from having too much to all the way where I had nothing. And I think that [the right answer’s] probably more in the middle. I think the ideal setup is having two to three, maybe four primary homes that you actually stock with all your stuff. So you can just basically pick up and leave, and you have the flexibility of moving around but also the familiarity of your things, your connections. Not having a home base? I felt like a nomad, in this free-floating way that I didn’t like.”
Another realization of Alex concerns pleasurable adaptation. Basically, it’s like you’re practically moving into this incredibly modern villa in Park City, Utah, overlooking the mountains, and you’re basically blown outta your mind, right? However, it only lasts for awhile. Then you get used to it. And then you go back to where you started. Back to the same old you. Therefore, Alex, in his personal view, thinks materialism is a net negative. It’s wasteful, he doesn’t care about about the status that comes with it, and now he knows that “high” feeling will soon disappear.
But then, having said all that, he and Leila did just go and drop eight figures on a mountaintop mansion. Huh? Why’s he talking out of both sides of his mouth? Well, he’s not, really. He knows in six months the buzz will be gone. But he also knows he needs a permanent residence. And he’s re-entering work season: growing Acquisition.com. He needs to have an office, a studio, everything he needs for maximum efficiency and productivity. Basically, he’s willing to spend money on functionality, not so much on form.
When Alex gets something new, like new clothes or new gadgets, he makes a deal with himself. In return, he has to get rid of something less useful. In this way, the total number of items remains more or less constant, but its usefulness is always increasing. Sounds a little illogical? “Well, these are the things you think about when you’re trying to optimize different aspects of your life,” Alex explains. “And then you can have more headspace and make better decisions throughout the day, and ultimately make more money.” Basically, it’s all about minimalism, getting rid of unneeded things in order to make way for other, more useful things. Sounds about right.
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