Alex Hormozi Scaling Workshop - Day 2 Overview

Mike DeHaan: [0:00] What's going on, guys? Welcome to today's episode of the collecting keys real estate investing podcast. You have me again this week for this Friday focus episode because I'm recording this the day after the one that I released last week. And so if you missed last week's episode, I did a little bit of an overview of the workshop I'm currently out here in Las Vegas for, which is the acquisition.com, which is Alex Hermosy's company, and it's their scaling workshop that they have been advertising. They also invited a bunch of businesses to, and it is all about learning to scale and value your business. And so yesterday, I recorded an overview of day one, which you can go and check out. And for this episode today, I'm going to be diving into day two, which was very, very different from day one in the way that it was 100% around application and specific to our business, whereas day one was all around theory. And so this is your first time to the show. Congratulations. This is kind of a weird one to be your first one, but I'm super glad that you're here. My name is Mike DeHaan. I am the main host of the show. You will sometimes hear episodes with my cohost, Dan Austin, as these Friday episodes, and then we do a group recording on the Monday and Wednesday episodes that we release. And my sort of claim to fame is that I quit my five year comfy engineering job and kinda just screwed around for a little bit before I started a series of real estate companies now do multi 7 figures per year that I am in the process of scaling into a real estate empire, I guess, is what I'm trying to do. I'm feeling extra motivated after this couple of days.

Mike DeHaan: [1:33] And we started the show to teach aspiring real estate entrepreneurs how to make massive income, not just passive income with their real estate investing business because, honestly, it's easier to get rich than it is to replace a standard w two income with passive income, which is what most people get into real estate to do, but you're doing it the wrong way. You can just go make a million bucks. It's way easier, and then you don't have to worry about pension pennies quite as much. So, anyways, day two for this workshop was so different from day one, where day one was all theory. Day two was 100% around application for our business with all the sort of different topics that we covered in the first day. And so the second day, it was the I guess, that the morning was entirely done in the form of these roundtables where they put us all into small groups, and we each had these sort of, I could say, like, forty five minute discussions that was led by one of the members of the acquisition.comteam. And they were all basically, like, the leads of the different departments. And it's kind of how it worked is we were in groups of, like, 10 or 10 people. The person would sit down, and they all had kind of a subject matter that they were expert on, obviously, because they were head of their own department. And we went around the circle, everyone got to ask one question to that person around their business.

Mike DeHaan: [2:46] And so the different, I guess, department heads that we had were we had a guy around pricing strategy. We had someone around brand and marketing. We had someone around sales, someone around doing paid marketing specifically, as opposed to brand marketing, which were around content. We had someone from customer success, and we then had someone around recruiting and hiring. And I think, honestly, I can confidently say that the things that I took away from today, I will probably look back in the future and look at this day as a day where everything changed for kind of, like, my business and the mindset shift around how to approach a lot of these things. Because, like, I don't think that I've ever been to an event where I got so much value in such a short period of time. And, like, yesterday was awesome. Day one was really, really good. Took away a ton of just, like, general knowledge and and and some good, you know, thoughts around things. Day two, I walked away with just some absolutely just, I don't know, incredible direction on some of the changes that we need to make to the business. And, you know, it's it's honestly kinda hard to even know where to start because I literally have 17 pages of notes just from today, which was a long day. It was an eleven hour day. Most of these are from the roundtables in the morning. In the afternoons, basically, we had a q and a with Alex and then a q and a with Layla. And then at the end, for people that wanna stick around, Alex recorded a YouTube video, and we're able to basically be an audience and contribute questions to it, which is really fun.

Mike DeHaan: [4:29] And that was all great too. I got tons of tidbits from them. But honestly, just like the quality of the team that they have alone is just freaking incredible. Like, it's the kind of people that you know, these are like his employees. And I'm like, these people could be incredibly successful entrepreneurs on their own. Interestingly enough, a lot of them have in the past. Several of them have scaled and sold businesses before or have made significant money before and are choosing to work for Alex and xvision.com because they believe in the bigger vision, which was a big part of kind of, like, the whole hiring the best talent. And, like, I think every single person in the room was talking to these different leaders, and they were like, not only does no one like this work on my company, I don't even know anybody of these kind of calibers of individuals. Like, just truly, truly amazing how knowledgeable they were. And so, like, so much of the of the stuff that was I I would say that was, like, so impressive to me too was during the roundtables, it was always trying to figure out, like, what's the best question that I'm going to ask to get the most value out of the very short time that I have talking one on one with this person.

Mike DeHaan: [5:36] But some of, like, the best tips actually just came from listening to things that other people asked. Right? And that was, like, a I would say, like, a huge testament to their skill set, the fact that they can take things that are different businesses that are, like, so different, you know, like, not even remotely similar, and create really valuable tidbits that sort of apply to everybody from them. Right? And, you know, I'm not even talking about just, like, you know, oh, this is around hiring, but, like, actual detailed, like, marketing strategies, content strategies, sales strategies that are applicable from, like, a real estate investor to, say, like, a chiropractic company to, you know, like, what we had some I had someone that had, like, an e tutoring platform in my group today. A guy that had, like, a series of, like, virtual golf stores. And they all had great questions and answers that were 100% applicable to what we do. And so it was just really, really amazing to go through that and just to gain such an incredible amount of value. And it just shows you honestly that how similar all businesses kind of are and how business truly is like a skill. And so many people are trying to focus around, like, these different niches or how to become subject matter experts for whatever their niche is, which I think is important.

Mike DeHaan: [6:51] But, ultimately, like, you can if you master the skill of business, I really think that you can get extremely wealthy doing pretty much anything. Right? Like, some of it is so simple, honestly. So for example, like, the customer success piece, you know, she's talked so much about, like, setting expectations and walking customers through the process and getting people early wins and doing all those sort of things. Kind of hear that, and you're like, well, that doesn't really make sense to, like, wholesale business or direct seller business. It absolutely does because guess what our customers always get anxious about? Our transactions. So as you're going through your transactions as a real estate wholesaling and flipping company, if you're buying direct from seller, how can you set up early wins with the seller? Right? Whether that is during the offer process, if you can make it show them that you're credible as early as possible and they made a good decision even calling you versus once the contract is signed, how do you reduce your drop rate by setting up the customer success sort of system, the transaction process to make them feel really good about what's going on. You know, what's the earliest one you can give them? Congratulations. We just opened escrow. Earnest money has been paid. So awesome.

Mike DeHaan: [7:57] You're currently, you know, twenty two days from closing. And then giving them updates along the way and regular check ins just to know that things are going well, and they should be getting excited. Right? And that whole process is exactly the same whether you have a chiropractic business that, you know, someone just signed up for a three month care product, however chiropractors work. Right? Or you have an elearning product where someone has to go through and they have the end goal of finishing it. You know? Can you gamify and do things like that to give that early sort of feedback? Absolutely, you can. And, you know, just just really being able to think outside the box of that is super valuable and increase the efficiency, which can add an incredible amount of of money to your bottom line. Or, like, when you're looking at brand, one of the things that I really love, which I feel like he actually the guy, Caleb, that was the director of brand for Alex, he specifically used real estate people as what not to do for your brand, which I thought was super funny. And, you know, he said that he was talking about the worst thing you can do to stand out for brand is to basically just copy what everyone else is doing. And he said, quote, realtors are the worst for this. We'll see a bunch of realtors that all look exactly the same, that are all posting the same kind of videos. They all suck.

Mike DeHaan: [9:11] They're all super cringey. And thus, the only ones that really get anywhere are the ones who are either first or the ones who are, you know, especially good looking or have a especially wide social circle. Right? And so his tip was if you wanna build out the content side of your business or you wanna stand out in the content space is to look at all the cringey stuff that everyone's doing that you don't like and just do the opposite. And so you may be seeing a little bit of change to my social media over the next little bit once I can figure out what that is because even though I'm not an agent, I am absolutely guilty of kinda doing the same cringey stuff everyone else is doing. You know, one of the good takeaways I like from there is that so many people focus on doing the quantity of posts and content, which is absolutely valid. But once you kinda conquer the quantity, understand that doing quantity is purely to determine the quality that the people wanna see. And so the point of doing a lot of posts is not just to simply do a lot of posts. It is to be able to have a large set of test content to figure out what people even wanna vibe with in your business. Right? And then, again, when it comes to sales, like, the sales piece, the guy, Jacob, that ran sales was so awesome. Like, I I got so much from him yesterday around, you know, writing scripts and he's gonna completely overhaul how we do our our sales process in our business. But just like the little things that he does, I think are really, really awesome. And the thing that I appreciate about all these guys is that they completely walk the walk. They aren't just like they're spewing stuff they don't actually do.

Mike DeHaan: [10:41] And a great example of this was for the sales guy when I was talking to him about sellers wanting to, like, cancel appointments or missing follow-up calls or doing all these different things yesterday, he mentioned that one of the hacks that they have is they basically just do, like, an intro text message before you run appointments or before you have, like, the call with, say, the acquisition manager. It's a super basic intro, and what you do is you just say, like, hey. I'm looking forward to our call. Sometimes you just gather additional information if that's needed so you can be quote, unquote more educated. Or is it a lot of times what they do depending on what they're selling? And I would be itching to see a real estate investor try this as they send what's called a VSL, which is a video sales letter. And it's basically like a short little well, it can be short. They can be long too. But a little clip kind of just explaining the point of the next meeting and introducing the individual you're gonna be talking to. And I was thinking, was like, this should be a really interesting thing to try as, like, a real estate wholesale business because one of the biggest constraints that we have is around trust.

Mike DeHaan: [11:44] And one of my thoughts is, what if every time we had a sales call, like an offer call or, like, initial introduction to an acquisition manager, running an appointment, instead of them being like, well, I don't know who's gonna come twenty four hours, forty hours before, we sent them a little text which sent them to a video of whoever the person is just saying and, again, these are supposed to be personal, but they don't have to be if it's kinda like a wide ranging thing. Just saying, you know, hey. You know, my name is Mike. I'm looking forward to talking to you on Thursday, and, you know, I'm gonna be the ones be gonna be working with you on this transaction and working with you to buy your home. You know, I'm gonna be the ones out there walking the property, whatever that looks like. And I was thinking about that being for real estate, and sure enough, I signed up for a a call with them for basically, like I was I was already a soccer yesterday and signed up for, say soccer. It's a super high value soccer, so it's mutual. But I signed up for their level two. And then because of the size of our business, they also have, like, a level three, which I don't what that entails. But I did sign up to talk with Jacob about that on Thursday.

Mike DeHaan: [12:41] And sure enough, what did he do? Like, actually, before I started recording this, is he sent me a text message, and it had a little link to a video. And he said, hey, man. Looking forward to chatting with you on Thursday. And it was a video of him that he obviously recorded in the office that I just left. I'm just saying, you know, hey. Looking forward to talking to you. This is what the meeting's about. And, yeah, they type walk the walk, man. I just responded back and said, hey. I really appreciate the the direct customized tabs with the VSL that you mentioned. And he recognizes that that is that is a big part of the game and that they are absolutely doing what they say. And so, you know, like, there's I like it. I literally have tons and tons of notes, But my main takeaway with this whole thing is, guys, like, learn business. Like, honestly, if you wanna be successful in real estate, stop, like, listening to, I don't know, fucking Bigger Pockets or, like, whatever show around whatever niche, you know, you're trying to get interested in hospitality, RV parks, you know, co living, land, whatever thing is is drawing your attention because you're trying to get rich, like, right now.

Mike DeHaan: [13:41] And if you learn business, then you can, like, make so much more in the long term. And by long term, I'm talking, like, three years. Not even, like, long term, like, thirty years. Right? But if you just focus on learning this business skill now, your long term upside is gonna be so ridiculously immense. And it's not gonna be because you found whatever secret real estate niche that no one has ever heard of or just isn't as competitive because they're all freaking competitive. As soon as someone makes a podcast or has a course around it, it's all equally competitive. You can make money in all of them, and it's your goal just to be the best operator that's out there. And I guess to round this out, one of the quotes that Leila actually had that I really, really liked to round it out, She said that most entrepreneurs fail because they're not willing to lose in the short term to win in the long term. And that's basically a fancy way of saying that short term sacrifice, like, Leo's long term rewards. But I just feel like breaking it down to that third grade language that I really, really get at for some reason really stuck with me. I don't know. Maybe it's going to public school. I have no idea. I went to a decent public school, but still but that's, like, so true.

Mike DeHaan: [14:52] Like, honestly, there are so many people that are so focused on, like, needing to get these, like, daily wins or weekly wins or monthly wins. You know, people do, like, the affirmations, and they go and they, like, celebrate all the little things. But I do think it's important, but look big picture with it, guys, and, like, be willing to kind of have some suck right now and forego some of the immediate gratification to have those long term victories. And that is ultimately what's going to get you to the life that you want. And not only the life that you want, but it gets you to life changing money where you don't have to keep doing it over and over and over again. So, anyways, great talk with Alex and Layla. It was super cool. I was fortunate to get to speak directly with each of them too. And, you know, like I said yesterday, big surprise. They're both exactly like they are on the Internet. Same personalities, talk to you exactly the same, super straightforward, super super nice. And that was a really fun experience. And if you're in, like, the business space or, you know, even as, like, a real estate company, if you have any sort of volume and you can up qualify to come to one of these events, I highly recommend that you do. There were several real estate companies here that I met today. Yesterday, I I thought I was the only one, but I actually met a traditional house flipping company today.

Mike DeHaan: [16:03] I met our large real estate brokerage. Got it. I just think 300 agents, which is freaking insane. And like I said, it is all applicable. You know? And it gets to a point where once you're kind of a real estate pro, you need to get around business pros as well. And I really think that this is one of the best conglomerates out here right now of people that are putting together business education. And I don't know if you're turn into a community or what all that's gonna look like, but it's it's worth making the trip and and paying the money to come out if you have the opportunity to do so. Anyways alright. I apologize. Kind of all over. It has been a long couple of days. Like, I literally left my hotel, was it twelve and a half hours ago, and I just got back and walked in to immediately record this so I could just kinda brain dump it. So, hopefully, you got some buy on that, but I'd love to hear your thoughts. Or if you've been to one of these events too, I would love to get your your thoughts in it as well. Or if, you know, just any general business questions that you might have, maybe I can answer them for you. So you hit me up at Mike underscore Invest. I'd love to chat with you. And shoot me a DM. I'll get back to you as soon as I see it.

Mike DeHaan: [17:06] And also to you guys, what's something I would really appreciate is if you go and you share this this post with people, I'll I'll personally send you a DM just saying thanks and open up that conversation directly so that you don't have to feel awkward reaching out to me. So just share it, tag me, and I appreciate it. Thanks, everybody, and we'll talk to you guys next week.