Alex Hormozi’s Speech Will Leave You SPEECHLESS — Best Life Advice


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with business in my opinion ego is the enemy I just realized that it was the root of all the unhappiness that I had and like everything that I have was in comparison to other people with for no reason I think the biggest thing that changes is time Horizon and I think the single greatest differentiator between the poor and the middle class middle class and rich rich and the truly wealthy is how they see time and if you think about money as simply a condensed unit of time right that’s all money is like you can trade time for money so like it is they’re almost equivalent units and the people who know how to master their time the most mean that they know how to master their money the most so the original question of like how do wealthy people come wealthy is because they Master their time I think it’s fear mostly I know that’s not a skill but I think it’s a character trait and so people are afraid of not getting validated or they’re afraid of judgment that they perceive from other people that exist or don’t exist in their lives and so for whatever reason they have this second voice that criticizes everything they do that in reality isn’t even there but it’s constantly present it’s like the antithesis of whatever the god figure is but just the negative voice and so I think that’s the thing that stops most people from doing the stuff they know they need to do because if you think about like whether it’s want to get in shape or I want to have a better marriage or I want to make more money most people on some level at a basic level they know what to do and my proof point of like even making money right most of us have had a bill that came up that was unexpected a tax bill a car breaks down a health thing whatever it is and we find a way and so when it’s for someone else people are will use the actual resourcefulness that they have to make the money but for whatever reason they won’t use that same resourcefulness to make it for themselves and so I think that most people know if they want to work out uh start to get in shape or to lose weight whatever they know they need to eat fewer donuts and move more in general but they don’t right because they’re afraid of getting started or they don’t have the discipline to keep going which is they can’t make the short-term sacrifice for the long-term achievement so big picture it’s like there’s usually some fear that’s preventing from doing it and then how it looks from a behavioral standpoint is they do not make the short-term sacrifice of discomfort for the long-term achievement independent of whatever path they’re talking about you’ve got this whole Space right and you look at like if you’re like I want to be a business influencer right well it’s like we look at the guys who are actually the top of the business game and virtually everyone have killed it in business and most of them even Gary had gone to 60 million a year before he made his first content and so I think the issue is that people look at that and say I should make content like them when you don’t have you can’t answer the underlying question which is why should I listen to you which is always in the back of every audience’s mind in my opinion at least that’s what I think like when someone’s like a relationship expert and I find out they’ve been divorced three times I’m like you know maybe not right I mean and as terrible as it is they might be giving amazing advice but it doesn’t pass the first filter which is if I’m going to take military strategy from someone I’d rather have a general that has a winning record Napoleon said I’d rather have lucky generals so even if he had two that were even you’d rather have the lucky one and so to the same degree I think people use that filter because it actually takes less effort to learn from someone that you trust and so it’s like if you’ve got the the basement teacher that’s selling it a dollar cost average of the s p and you’ve got Warren Buffett who’s telling people to dollar cost average in the s p they don’t want to listen to the teacher even if the teacher is better objectively from a constant standpoint because they just don’t know if they should trust them so you have to have two filters I’m hearing the thing should I trust the thing with Warren you can just plug into whatever he’s saying just take it as truth which takes less effort and I think a lot of people would get much bigger better audiences and actually make more money from the content that they’re making because everyone else is like why should I listen to you I think it’s a frame shift that at least has been very valuable for me to understand which is that whatever I want there is a cost to getting it and so the the first time I heard this was actually a somebody who’s using it to close an event and they were saying and they wrote they wrote a million dollars on the board and they asked somebody in the audience how much they make and they I think they answered fifty thousand dollars and he said and then you put fifty thousand dollars underneath a million bucks and he drew a line and they put 950 000. he said it is costing you 950 000 every year to not know how to make a million dollars and that like he didn’t call it ignorance tax I’ve called it that since then but like you can put whatever number you want it cost me a billion dollars a year not to know how to make a billion dollars a year in income right that idea for me has been fundamental to like I will pay for whatever shortcut possible there is value in someone helping you get somewhere faster and making sure that that person has helped people like you get to where you want to go is a great first litmus has to look through that big breakthrough that I had for me was when I stopped focusing on and this is going to sound backwards but when I started my gyms I was all about building the business and when I built the biggest companies that I’ve had and now recently sold and now we have our portfolio it was about how do we make the most money and I know that sounds completely backwards but the only way that you can make the most money is to provide an exceptional valued service and charge a ton of money for it and because I optimized around making money I I started going for low Capital expense businesses because I had lost everything after that five-year stint and so I was like never again am I going to reinvest every dollar from the business back into the business because I’ve lost it before so when I started the the next business and every business I’ve had thereafter like we take dividends every month and the thing is and this was a fallacy I had because people always talk about like reinvesting in their business but I realized that that just meant that they weren’t making profit and so the vast majority of businesses even the software world is somewhat shifting in this but they want to see profit and then even better is if you have net free cash flow which is just a fancy word for the amount of money that you can take out every month after making Necessary investments in the business and so I wanted to have businesses that pumped cash flow because I lost it all before if I were just to use history as a as a as a guide business has only gotten easier to get into it’s gotten more competitive and easier to get into and so I think that what happens is just the arena gets bigger so you got more Gladiators so it’s more competitive but more people can walk in and so I think but it but for the world in general the more people you have fighting to make amazing products and services the better it is for society but the downstream effect of that is that in a capitalist system it is a winner take all for most for for many not all but for many businesses and just by the nature of it that does create social disarray and it’s just but the thing is it’s like it’s still the best system that we have we don’t have a perfect system because the other systems remove incentive and Humanity doesn’t buy incentive yeah even the survivorship bias like every MLM in the world exists off the fact that there’s that one guy who makes 500 000 a month selling shake mix and the other five million Jake mix producers are like someday yeah and it’s just survivorship bias right but that’s why the whole capitalist machine works so I think they’re like figuring out some sort of a you know creative way if somebody is starting from scratch what are the traits skill sets that they should be cultivating in order to up the odds of their success they should focus on one thing in general rather than lots of different things that you’re not sure about because if you’re starting out everything looks like an opportunity so the correct answer is all of them are opportunities but all of them won’t work unless you pick one right so you have to say no to all the other Mistresses so boom you pick one and then from there I always say six figures is sell something to someone that’s it and if you want more detail sell something to someone so it’s one Avatar one product one channel so you don’t have to figure out how do I create 20 pieces of content across it’s like just pick one channel one media Source whether it’s Facebook Instagram YouTube you know whatever Twitter consistently start going on that whether that’s cold outbound whether that’s content whether it’s running paid ads whether it’s Affiliates Word of Mouth whatever it is and start reaching out to people there to start selling your stuff so I use something that I call the rule 100 which is 100 primary actions whether that’s 100 minutes of of content creation per day 100 reach outs per day uh 100 of AD spend per day uh like you have to pick one of them but 100 per day and you do that for 100 days and I promise you’ll have you’ll be making six figures if you do that vast majority of people are pitching all the time are natural promoters not product people Naval had this quote that I really like he said you’re only selling because you don’t know how to Market and you only Market because you don’t know how to build a product because like the best products market and sell themself now obviously if you’re Steve Jobs or Elon Musk it’s like you build amazing products and then you back them with unbelievable marketing and then you have an army of sales people that that you know are selling for you so it’s like then you have them all then you have you know a trillion dollars yeah yeah yeah but like just being exceptional any of those will make you money but you get the multiplicative you know compounding effect if you’re good at two or three of them

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  1. The six greatest components to my success, and I’m very successful, are as follows:

    1. Never give up- persevere in the face of obstacles…ESPECIALLY when you feel like giving up
    2. Work 80 hrs a week instead of 40- insomnia is a blessing; if you don’t have insomnia, work weekends until you get ahead, you can sleep when you retire
    3. Save more than you spend outside of basic needs- and if you couldn’t afford to pay cash for it DO NOT put it on credit
    4. If you make a mistake, own it, and don’t make it again- no one is always right and a person who can admit when they’ve made a mistake earns the respect and trust of those both higher and lower on the ladder of success; that way you leave room to learn better ways of doing things as well as the loyalty of people you can depend on
    5. Act professionally towards, and treat with courtesy, all those you work with
    6. See #1

    However, everyone measures success differently. But it’s no mistake that I’ve achieved success in all facets of my life, not just financial.

  2. Transcribed nearly all of this. The way I then apply it as quickly as possible is by posting it to the wall, and seeing what's still there 3 months later, what's still helping me the most? And adding it to a folder that I glance at quarterly, when I'm being true to my decided upon habits. Thank you for posting!