I Pitched My Business to Alex Hormozi - This Is What Happened

Summary

In this video, David, a 27-year-old CEO of Submic, shares his experience attending a workshop by Alex Sosi in Las Vegas. He discusses his goal of pitching his software to Alex, the workshop's structure, and key learnings. Despite finding the first day basic, he gained valuable insights on business growth and leadership from Alex and his team. David also reflects on the benefits of networking and the importance of focusing on internal strengths. He concludes with top takeaways and advice for entrepreneurs considering similar workshops.

Takeaways

• 😀 The importance of defining what makes a great leader and personal growth towards becoming one.
• 🎯 The experience of pitching a multi-million dollar software company to Alex Sosi and the unexpected outcomes.
• 🏢 The decision to attend a workshop in Las Vegas for networking and learning from a successful entrepreneur.
• 📈 The rapid growth of Submic, a tool for creating short-form content, from zero to 1.2 million users in 12 months.
• 🤝 The desire to form a partnership with Alex Sosi to leverage his influence in the short-form content industry.
• 💡 The realization that the first day of the workshop was basic for experienced entrepreneurs but valuable for beginners.
• 📊 Learning about business valuation and the importance of diversification in marketing and business operations.
• 🤔 The insight that focusing on the right metrics and solving the right problems is crucial for a CEO.
• 🔑 The strategy of spending 80% on what works and 20% on testing new ideas in marketing.
• 📝 The significance of storytelling in business and the strategy behind Alex's YouTube channel.
• 💼 The approach to hiring top talent by speaking their language and leveraging referrals.
• 🤝.5 The strategy of asking questions to employees before providing solutions to promote autonomy.
• 🎤 The power of effective communication and simplifying complex ideas for better understanding.
• 🚀 The takeaway that acting fast, testing, learning, and failing quickly is a recipe for business success.
• 🛑 The decision not to pursue a partnership with Alex Sosi after realizing the potential for independent growth.
• 💡 The emphasis on focusing on internal strengths and customer success rather than external partnerships.

Q & A

What defines a great leader according to the speaker?

A great leader simplifies complex ideas, communicates effectively, and is able to make themselves understood.

Why did the speaker attend Alex Sosi's workshop in Las Vegas?

The speaker attended the workshop to pitch his software, Submic, to Alex Sosi, get his feedback, and explore the potential for a partnership.

What is Submic, and who are its primary users?

Submic is a tool that helps create captivating short-form content. Its primary users are creators, coaches, video agencies, and marketing agency owners.

What were the speaker's main goals for attending the workshop?

The speaker's main goals were to pitch Submic to Alex Sosi, get his feedback, and explore a potential partnership to accelerate Submic's growth.

What were the speaker's impressions of the workshop environment?

The speaker found the workshop environment to be professional and well-organized, with most attendees being founders of physical businesses.

What key insights did the speaker gain from the workshop?

Key insights included the importance of pay ads, storytelling, effective recruitment, focusing on customer success, and simplifying complex ideas.

What feedback did Alex Sosi provide about Submic?

Alex Sosi suggested separating different customer segments, focusing on the real buyer personas, and building the product for them. He also mentioned that the speaker did not need him to grow the business further.

How did the speaker feel about the value provided on day one of the workshop?

The speaker felt that the information provided on day one was basic and not particularly valuable for someone with his level of experience in entrepreneurship.

What was the focus of the second day of the workshop?

The second day focused on Q&A sessions with the team of Acquisition.com, allowing attendees to ask specific questions and get valuable insights.

What were the speaker's main takeaways from his experience with Alex Sosi and his team?

The main takeaways included the importance of acting fast, testing and learning from failures, focusing on internal strengths, and customer success rather than relying heavily on external partnerships.

Outlines

00:00

🚀 Introduction to the Workshop and Personal Background

The speaker, David, introduces himself as a 27-year-old CEO and co-founder of a software company called Submic. He shares his experience of pitching his multi-million dollar company at a workshop hosted by Alex Sosi in Las Vegas. David outlines the purpose of the video, which is to share his learnings from the workshop, his experience pitching Submic to Alex, and the unexpected outcomes of the pitch. He also gives a brief background on his journey in entrepreneurship over the past 10 years and explains the role of Submic, a tool designed to help creators produce short-form content. David emphasizes his desire to learn from Alex and his team and to explore the possibility of a partnership.

05:00

💼 David's Objective at the Workshop and Initial Impressions

David describes his primary goal for attending the workshop, which was to pitch Submic to Alex and gain feedback, rather than just learning about scaling his business. He provides a detailed account of his expectations and his mindset before attending the workshop. David shares his initial impressions of the workshop environment, noting its professionalism and the presence of attendees who mostly run physical businesses rather than software companies. He reflects on the relevance of the workshop content to his experience level and business needs.

10:02

📊 Workshop Day One: Business Valuation and Lessons

David recounts the first day of the workshop, where the focus was on understanding business valuation and identifying weaknesses in business models. He mentions that much of the information was basic for him, given his decade of experience in entrepreneurship. The day involved learning about key metrics, the importance of diversified acquisition channels, and the pitfalls of having a business overly dependent on the founder. Despite finding the content somewhat obvious, David acknowledges that these insights are valuable for new entrepreneurs.

15:02

🎤 Workshop Day Two: Q&A Sessions and Key Insights

David discusses the second day of the workshop, which centered around Q&A sessions with the acquisition.com team, including directors of sales, branding, and marketing. He found this day more valuable, learning from the team’s expertise and insights. David highlights his personal interaction with Alex during a private Q&A session, where he pitched Submic and received advice on how to segment his customer base. Alex's feedback, particularly about not needing external partnerships to grow, was impactful for David, providing him with confidence and strategic direction.

🎯 Marketing and Storytelling Strategies from Alex’s Team

David shares the marketing and storytelling strategies he learned from Alex’s team. He discusses the importance of focusing on paid ads, structuring advertisements effectively, and consistently testing new marketing approaches. The session emphasized the significance of storytelling, simplifying complex ideas, and making communications clear and relatable. David also learned recruitment strategies, such as focusing on hiring people who have already succeeded in similar roles and always starting with the 'why' when communicating goals.

💡 Insights on Leadership, Sales, and Business Growth

David reflects on the leadership and sales techniques demonstrated by Alex’s team, noting their ability to sell high-ticket offers effectively. He appreciated their communication style, which simplifies complex concepts for easy understanding. David also gained insights into growing a business into a sellable asset, realizing that internal strengths and customer success are more critical than external partnerships. The workshop reinforced the importance of testing, learning from failures, and iterating quickly—a key takeaway for David as he continues to grow his business.

🔍 Final Thoughts: Workshop Value and Key Takeaways

David concludes by summarizing his experience at the workshop and the key takeaways that stood out to him. He discusses the value of attending such educational events, emphasizing the boost in motivation and confidence they provide. He also reflects on the networking opportunities, including meeting 20 Submic users at the workshop. Although he acknowledges that the workshop might not be necessary for scaling a business beyond $5 million in revenue, David found the experience worthwhile, particularly for the insights gained from Alex and his team.

Keywords

💡Leadership

Leadership is the process of influencing others to achieve a common goal. In the video, the concept of leadership is explored through the lens of the speaker's experience at a workshop led by Alex Sosi, who is portrayed as a successful entrepreneur and leader. The speaker seeks to understand the qualities that define a great leader and how to embody them in his own role as CEO.

💡Entrepreneurship

Entrepreneurship refers to the act of creating a new business, bearing the risks, and enjoying the rewards. The video's narrator, David, is an entrepreneur who has built and sold multiple companies. His journey and the lessons he shares are central to the video's theme, illustrating the challenges and growth opportunities inherent in entrepreneurship.

💡Workshop

A workshop is an interactive, educational session focused on learning and development. In this context, the workshop is a platform where David aims to learn from Alex Sosi and pitch his software company. It serves as a pivotal event in the video, providing insights into scaling businesses and networking with potential partners.

💡Software Company

A software company is a business that develops and sells software products. David's company, Submic, is a software company that creates tools for short-form content creation. The video discusses the growth and challenges of Submic, highlighting the importance of software innovation in the digital age.

💡Scaling Businesses

Scaling a business involves growing it to a larger size, often in terms of revenue, market share, or customer base. The workshop David attends is focused on teaching participants how to scale their businesses. This concept is central to the video as it represents the primary goal David has for attending the workshop and applying the lessons learned.

💡Partnership

A partnership is a business relationship where two or more entities collaborate to achieve a common goal. David explores the possibility of a partnership with Alex Sosi to help scale Submic. The video discusses the potential benefits and the process of evaluating such a partnership opportunity.

💡Content Creation

Content creation refers to the process of producing material for various media platforms. Submic is described as a tool for creating captivating short-form content. The video emphasizes the importance of content creation in growing a business and attracting an audience.

💡Customer Success

Customer success is a business approach that focuses on ensuring customers achieve their desired outcomes with a product or service. The video mentions the importance of being obsessed with making customers successful with Submic, indicating that customer satisfaction is a key driver of business growth.

💡Sales Strategy

A sales strategy outlines the methods and tactics used to sell products or services. The video describes the sales experience at the workshop, where a higher-ticket item is offered. It highlights the importance of effective communication and understanding customer needs in crafting a compelling sales pitch.

💡Feedback

Feedback is information given in response to something, often used to improve performance or understanding. Alex Sosi provides feedback to David about Submic, particularly regarding customer churn. This feedback is valuable as it offers insights and directions for improvement, which is a critical aspect of business development.

💡Growth Mindset

A growth mindset is a belief that abilities and intelligence can be developed through dedication and hard work. David demonstrates a growth mindset by seeking out the workshop to learn and grow his business. The video conveys the message that continuous learning and adaptation are essential for business success.

Highlights

David shares his experience at a Las Vegas workshop led by Alex Sosi, aiming to learn from Alex and pitch his software company, Submic.

David is a 27-year-old CEO and co-founder of Submic, a tool for creating captivating short-form content.

Submic has grown from zero to over 1.2 million users in 12 months.

David attended the workshop to pitch Submic to Alex Sosi and seek feedback, rather than just learning to scale his business.

The workshop environment was professional and well-organized, with attendees mostly from physical businesses.

Day one of the workshop focused on business valuation and metrics, which David found basic given his 10 years of entrepreneurial experience.

Key points from day one included understanding business value, the importance of diverse acquisition channels, and solving business problems efficiently.

Day two featured Q&A sessions with Alex Sosi's team, which David found valuable for learning practical insights.

David had a private one-hour Q&A session with Alex, where he pitched Submic and received feedback on targeting different customer segments.

Alex's advice to separate casual users from professional clients was a game-changer for David.

David appreciated Alex's communication skills and ability to simplify complex ideas, which he sees as a mark of a great leader.

David learned the importance of focusing on internal strengths and customer success over external partnerships.

The workshop boosted David's confidence and motivation, which he found worth the $5,000 investment.

David highlighted the importance of quick testing, learning from failures, and adapting strategies as crucial for business success.

David's top takeaways included risk analysis, learning from Alex's team, and maintaining a high velocity of testing and iteration.

Transcripts

I would like to know what for you

defines a great leader and how did you

work on yourself to become a good leader

I pach my multi-million dollar software

companies to Alex Sosi himself at his

Workshop in Las Vegas where he was

teaching other entrepreneurs how to

scale their businesses and in this video

I'm going to share my honest experience

about the workshop I attended with OSI

and the unexpected outcome of pitching

my software submic directly to him I

will talk about why I decided to go to

Vegas my workshop experience and my

greatest takeaways from Alex Ali himself

and during the conference I get the

chance to sit in a private room with him

directly where we discuss if a potential

partnership could happen between Alex

Sosi and submic together and his answer

wasn't what I

expected I'm David I'm 27 years old I'm

the CEO and co-founder of a software

company called submic it's been pretty

much 10 years that I'm doing

entrepreneurship I started when I was 17

years old and in the last few years I've

been able to build and sell different

companies and with this video I just

want to share my learnings I get from

the last 10 years from my biggest

failures to my greatest moments so

please be tolerant English is not my

first languages as you can hear so I

will try to do my best to share all my

learnings with you guys and for those

who ask sub magic is a tool that helps

you create more captivating short F

content in three clicks either if you're

a Creator coach video agency owner or

even marketing agency owner you need to

make captivating short form contents for

your clients or for yourself and in the

last 12 months we grew insanely fast

from zero to more than 1.2 million users

and our goal is to become the allinone

platform for short form content so I've

been learning from Alex content for free

for many months and I love his approach

to business this is a fact so many new

business owners including myself have

been driven to start short form content

and potentially use the software I

created submic because of the style of

content that he popularized so what I

wanted basically is to get his opinion

on all software companies learn from his

team and see if a potential partners

ship could be something we could

consider together so I decided to pay

$5,000 to fly directly to Las Vegas to

attend this Workshop so you need to

understand what is my position before

going to this Workshop like my primary

goal was not just to learn from Alex and

the workshop on scaling my business this

is not really our issue at the moment

what I really wanted was to pitch him

submic and get his feedback on that

because you need to understand that our

goal at submic is to become the number

one tool for short from content in the

world and so my job as a COO of sub

magic is to create opportunities for

business and drive all my team to this

objective and I saw that building a

partnership between the number one guy

in the short Farm content industry with

sub magic could help us achieve faster

this

[Music]

[Music]

goal okay so I just arrived in Las Vegas

the flight was pretty good I

didn't s so much I think about like how

will be the meeting with

Alexi I tried to imagine

life when I first entered the building

my first impression were that the

workshop environment was professional

and super well organized interestingly

most attendees were funders of physical

business like mortgage companies

cleaning services real estate brokers

but not really software companies or

digital businesses okay so regarding the

organization of the workshop it was in

two days and so the day one was

basically the team of acquisition. comom

explaining us like how to become a great

CEO and how to build great businesses

and during this all day they teach us

multiple things but they pretty much

focus on how to value your business and

to be honest as I'm doing

entrepreneurship since 10 years those

information were pretty much basic for

me I didn't learn anything in particular

the day one they explain you like what

is AA how you calc your margin what

makes your business great and what are

the real metrics you should care about

your businesses regarding the retention

or the recurring Revenue stuff like that

after that they explain you like what

makes your business sucks for example

you run your business yourself and if

you are not here anymore your business

cannot run without you this is the

weakness of your business or let's say

for marketing if you have one

acquisition channel that drives 100% of

your traffic or if you have like five

different acquisition channels that

drives like 20% each of your traffic

which one do you think is the better

option of course the second one is the

better option so they try to explain you

like what makes a bad business and what

you should fix before trying to sell any

businesses and those things for me was

pretty much obvious so I didn't learn a

lot from the day one but I would say if

you just start entrepreneurship or you

are in your first company those

information are still good to know to be

honest because for sure those

information are really true and to

repeat those things multiple times could

help you like grow your business and

avoid like making some mistakes they

also teach you like how to focus on the

right things for your business that

matters the most like most of the people

are doing things for the business that

doesn't bring a lot of value so they're

trying to solve the wrong problem with

pretty much the wrong strategy and your

goal basically as a CEO is to find these

things as fast as possible for your

problem and you should ask this question

like pretty much every day on your

business like okay today where my team

should focus their effort on and as a

CEO which methodology I will put to my

team to solve this issue the most

efficient way possible and basically

what happened is that the end of day one

you should get your valuation of your

company in front of you and they explain

you like why your company is not value

so much because of the issue I just told

you and then finally Alex in person

arrived on stage so before that all his

team were doing the workshop and then

Alex arrived and then he told you like

okay you get this valuation okay it's

not great but I'm going to explain you

that this is easy to fix and I fixed it

already for multiple companies that we

Acquired acquisition. comom and

basically we have a Playbook to fix

these things and then they asked you to

value your business with the new

strategy of alexos of course you're

going to see a big difference and then

at this stage he say we don't have time

to invest in company anymore so the

Playbook we have who are willing to give

it for you and to train you to implement

into your own business but this will

cost you an extra ticket of $220,000 so

I was like I was hoping more value for

day

one so when I met Alex in person when he

get on stage he was very similar to what

you saw on YouTube very muscular very

funny and extremely great at speaking

and I was super glad to see him in front

of me expanding business use case but to

be honest I was expecting to have him

more on stage than he did the day two of

the workshop was different basically the

goal of the day two was to create Q&A

session with the team of acquisition.

comom so you had the director of sales

the director of brand the director of

marketing Recruitment and all those

people you could get access to them by

group of 10 people where during 30

minutes you could ask any question you

want to them and they will give you as

much value as possible and to be honest

I really like this day two because I

learn a lot from them he has a great

team and either you like him or you

don't like him what he succeed to create

with his brand with the content he

create and with acquisition. comom is

pretty much amazing so I was like I have

a lot of things to learn from

them in the morning of day two I was

invited with a group of nine

entrepreneurs in a room with Alex amoi

himself for a 1our Q&A with him and

during this 1 hour Alex was in the room

with us with a white board you pitch

your business to him in five minutes and

then you explain like what are your

issues and he tried to find solution for

you and to be honest this was super

interesting and super useful at the same

time so I was like yes this is great

this is my shot I'm going to be able to

expain him like sub magic and what we do

and what possibility of partnership we

could do together so my pitch was super

straightforward I was like I'm doing

this I'm solving this issue you are

doing that you are solving this issue

our goal is to reach this point we think

there is something to do together what

do you think about it and the funny part

is that during the workshop I met around

like 20 people using submic and came to

see me because you have a badge during

the workshop and your company name is

written so it was written some magic and

some users of some magic cames to me and

say hey I use some magic amazing tool

and this was pretty great because I had

the time to talk to them and to see them

in person and what I realized by talking

with them is that a lot of them were

client of school as well and the issue

they get with school is that to grow

their community on school they need to

create content to attract people in the

membership and to create content they

were using submic so I was like your

issue that you have your school I'm

solving with my software some magic so

let's talk together his initial reaction

very interesting uh you are doing super

great and then I explaining that we have

some issue at our company regarding the

Chan because we have a pretty high Chan

regarding the fact that a lot of people

are curious to start short from content

so they come they use the tool but then

they stop doing short content because

part of our clients we have some clients

that just want to start shortform

content for fun and try the tool and use

it because they are very into AI tool

and stuff like that and at the same time

we have some very professional clients

like agency owner or coaches video

editor that use some magic every day for

their work so so Alex feedbacks was very

valuable he told us like try to separ at

different cords on your business like

the tester coming from the AI wave and

the real buyer personal and build your

product for them and then he say pretty

much like you don't need me to grow your

business to be honest you're doing great

keep on going you will reach your goal

and this advice and feedback was really

game changer for me because this coming

from him directly as I see him one of

the top leaders in the world in the

industries that we are growing this gave

you a lot of confidence and you need a

lot of confidence to run your business

and to reach your goal and just for that

I was happy to attend his Workshop

honestly during the workshop I learn

from him but I would say I learned more

from his team directly a lot of them had

some really great insights from working

for acis.com and here are some key

insights from his team become the best

in Pay ads in order to become better on

PID ads you need to spend like 80% on

what works already and 20% on test and

you need to keep that separately and

always spend 20% on new test and when a

test is validate you put it under 80%

and then you keep testing some new

things a structure of an ad will be like

who the meats and then the CTA the hook

is like 50% of the work you need to

spend on it it's really important and

then you have the meats the core of your

videos you need to spend like 30% of

your time working on the meat and then

the 20% will be focused on the CTA and

then what you can do is like just list

20 different hooks five different Ms and

like five different ctas and then the

day you need to shoot your ads you can

shoot all of them in the same time and

then with your editing software you can

just play with them and change the hook

with the meat with the no CTA and just

AB test them in order to find the best

marketing angle that works the best for

your brand I learned the importance of

Storytelling and the strategy behind

Alex YouTube channel how to attract your

top talents for your businesses with

clear job post by speaking their

languages being super straightforward

with what you're looking for and posting

your recent job post like pretty much

everywhere as you can and you can do

also pay out to have more leas for your

job post but the best strategy you can

do to hire the best people is always go

to find people that already succeed in

what you are looking to have instead of

asking them directly like hey would you

be interesting joining a company even if

you are interesting by his profile ask

him if you has some referral first

because this will put you in a higher

position instead of just doing like hey

can you work for me please they remind

us as well to always start with the why

then the how and then the what don't

Focus too much time on the what focus on

the why start with the why start with

the why go on the how and then finish on

the what they gave us some really good

insights for recruitment as well and

managing people as a manager try to

always ask question to your employee

before giving them the solution directly

because this helps them create autonomy

and don't depend on you always and then

your job is just to guide them on if

it's a good solution or not a good

solution and explain them like why you

think it's not a good solution but try

to have this conversation like Q&A

session with your employees directly but

finally I would say be obsessed with

making your customer successful with

your product is the most important

things another main takeaway that I had

from their team was that the sales

experience is pretty much amazing like

we pay $5,000 to go to the workshop but

they try to sell us an higher ticket and

I'm sure that the higher tickets they're

going to try to sell you a higher ticket

but they did it in a very nice

experience and that gave us a lot of

ideas about like how you can make some

great sales speech another thing that

Alex team was great at was communicating

effectively Alex simplifies things

because he understand like why making

concept easy to digest is so important

like communication is an n and the

leaders who can make thems understood

are usually the best and when I see Alex

on stage or Leila they are so good in

speaking they are so good in simplifying

difficult things into basic things and

that makes them great leaders and one

guy in the workshop I ask him to Alex

like how he makes things more simple and

he say like basically by breaking down

complex ideas into understandable chunks

and always using relatable examples but

he says at the same time like he've been

doing that in many many years so it's

lot of practice at the same time another

key take away from the event is that

when you're trying to grow your company

into a sellable assets what I realized

is that I don't need Alex specifically

to reach our goal and building a

partnership like that could be very

timeconsuming for us and risky at the

same time because at the end of the day

we have more effective solution in order

to grw our business five times more than

what it is now and one more thing that I

learned was to focus more on internal

strengths and customer success rather

than just ring on external partnership

this realization has streamlined our

strategy and pivot my focus so after

spending this valuable time with Alex

amoi I went home to apply the many

insights I gain I would say this

educational events boost your motivation

like it Empower you and give you

confidence for your business and for me

this is enough to pay $5,000 to go there

I learned a lot from the team I met

around like 20 customers of sub magic I

could talk with them get feedback from

them now Alex knows myself he knows some

magic as well he knows where we want to

achieve and where we at at the moment

and who knows what might happen in the

future this experience has reinforced my

goal to help our customers achieve

success with submic providing as much

value as possible for free to them and

to be honest I make this video thanks to

him today in all honesty if you're

considering going to one of his Workshop

you probably don't need it to scale your

business I would say it depends on which

stage are you on your business but if

you are at the beginning or you're just

starting entrepreneurial you will get a

lot of information on this Workshop but

but I would say if you are already doing

more than 5 million a year in Revenue I

don't think all the value they gave you

on the workshop will be valuable for

your business and a lot of his free

value content that he's making on

YouTube or Instagram or whatever is high

level information that most other people

pay for and you can likely use it to

grow your own Million Dollar business in

summary I would say my experience

pitching Alex amoi on my software was

definitely worth it and here are my top

three takeaways I would say number one

is risk and reward like analyze the risk

analyze the reward and I would say I'm

pretty good to analyze the risk and the

opportunity for me to take a decision

for my business and as a CEO you need to

take like multiple decision like that

every day on your day today for your

business secondly I learn from his team

I learn from him I learn from Leila as

well I learn the way they sell their

product inside acquisition. comom with a

higher ticket as well and that was very

interesting I create a relation with

Alex amoi he knows my software he gave

me some good feedbacks on the court of

churn and as well a lot of confidence to

continue growing my businesses and the

most valuable things that I take from

Alexa Moi himself is like act fast test

and learn and fail fast and then repeat

the process and take result from what

you did like okay I test that this

didn't work for my business okay what

failed and then you change and then you

you test again and if you have this

process in mind in your businesses you

have no chance to fail because this

velocity of being able to test and fail

fast is what will make your company

successful you might already know the

answer for your business often the

answers are right in front you but you

are not looking at them thank you very

much for watching this first video on my

YouTube channel be sure to hit the like

and the Subscribe button and tell me in

comments what do you think about that

what kind of content would you like to

know on magic or would you like me to do

and also YouTube things that you should

watch this video and I will see you in

the next one