Ep. 192 ~ I Sold My Company at 31 My Detailed Breakdown of the Decision ~ Alex Hormozi!

Okay, so quick backstory.

I actually ended up writing out the backstory for this in more detail.

So this will get you 100% up to speed to the same context as I had.

So I spent the better part of two and a half years obsessing about a single decision, whether or not to sell my business.

And I'm thankful to tell you that two and a half years later, I made that decision.

So what I want to walk you through is how I made it and hopefully help someone skip the two and a half years of mental trudging that it took me to get here.

So let's start with why did I want to sell? So let me take you back into a moment that I decided to sell and then bring you forward to this moment.

So Layla and I were on a walk in March of 2019 and we had just done $4.4 million in revenue that month and taken out $1.7 million in owner dividends that month.

She stopped and she looked at me and she said, let's shut it down.

I don't feel like doing this anymore.

We don't need the money.

Let's just shut it down and move on.

And being the motivated entrepreneur that I was at the time, I was like, hey, now let's at least see if we can sell this, all right? Maybe we can get like a small payday before moving on to our next thing.

And so I went up and I hit my network up and asked anyone if they knew anyone who could help me value my business and let me know what somebody might pay for it.

And that's when a good friend of mine, Rick Mayo, introduced me to an investment banking friend of his who specialized in our space, which is the fitness space at the time.

And so within a day or two, I was on the phone with a guy named Mike Okumian.

And he was a banker in the fitness space and he transacted a handful of high profile deals.

And after a few introductions, I shared our dilemma and asked if there was, you know, he thought the company could be worth anything.

And what he told me next really changed my life.

And so I'm loosely paraphrasing, but he said, dude, you grew from zero to $17 million in profit in two years.

and you're now on pace to grow 50% again this year.

And I was like, yeah, I know.

We're really tired of it though.

And Michael was like, if you continue this growth at the end of the year, he's like, I can sell this for 150 million easily.

And I was like, really? And he was like, yeah.