2 Types of Business Risk | Ep 413

The Game with Alex Hormozi

Alex Hormozi

Business, Education, Entrepreneurship, How To

4.9 • 4.8K Ratings

🗓️ 26 July 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's risky business, people! Today, Alex (@AlexHormozi) talks about the top business risks that are made by many new entrepreneurs, show you how each risk works (with different scenarios played out), the best ways to approach these, and how the wealthiest figure out ways to play the game in new ways where they can't lose.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(1:31) - 2 types of risk and their costs when making them.

(4:00) - Hardest question in entrepreneurship: when to pivot?

(6:52) - Idea risk vs Execution risk for new entrepreneurs.

(11:05) - Wealthiest people eliminate risk by controlling it.

(14:57) - Change how you think about risks - focus on opportunities.

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Transcript

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0:00.0	Hey guys, real quick.
0:00.8	So Layland and I are definitely working
0:01.9	on our social media presence if you guys haven't noticed.
0:04.2	And we're just breaking now into LinkedIn.
0:06.4	All right, it's not as bad as I thought.
0:08.4	It's actually been pretty awesome so far.
0:09.5	And you guys have been really cool on there
0:11.0	and people are sharing our stuff a lot.
0:12.2	So if we aren't connected, on LinkedIn,
0:14.0	it go ahead and let's connect and let's rock and roll.
0:17.1	If you're picking businesses, the difference that he and I had
0:19.5	is that his mentors always went super, super big.
0:21.7	They wanted to go change the world and whatnot.
0:23.4	But what I don't think we see or probably risk or value
0:26.8	is the graveyard full of people who went big and struck out.
0:31.9	The wealthiest people in the world see business as a game.
0:34.2	This podcast, the game, is my attempt
0:35.7	at documenting the lessons I've learned on my way
0:37.4	to building acquisition.com into a billion dollar portfolio.
0:40.3	My hope is that you use the lessons to grow your business
0:42.0	and maybe someday send it partner with us
0:43.4	to get to $200 million in beyond.
	...

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