A Hard Learned Lesson | Ep 213

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 12 June 2020

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s all about being practical the more you progress. Today, Alex (@AlexHormozi) talks about one of the hardest lessons he’s learned in his entrepreneurial journey, how to not get distracted by opportunities that might seem attractive and how he’s been able to grow more money as he takes a step forward. “Our optimism can become our Achilles heel because we believe that the chance of success is actually greater than it really is.”

Welcome to The Gym Secrets Podcast where you can listen in on the Top 1% of Gym Owners to hear the secrets of what they are doing differently to get more customers, make more profit per customer, keep them longer, and do it all without sacrificing their personal lives. We've got roll up your sleeves kind of hustle with a little bit of cleverness and a lot of heart. We are 1% of gym owners and this is our podcast. Hosted by Alex Hormozi.

Timestamps:

(1:56) - Some opportunities are like “the woman in the red dress”. They may seem attractive, but you need to learn how to say no to them especially if it will cause you trouble at the end

(3:49) - Alex shares his realistic point of view on a quote by Jeff Bezos about taking opportunities and how it’s not practical

(5:28) - Here are 3 important questions to think of in order to help you learn how to say no: “What’s my upside?”, “What’s my downside?”, “Can I live assuming that the downside is gonna happen?”

(7:54) - Every level you pass, the more the discipline to say no gets stronger. This is difficult, especially for entrepreneurs who like to play the game like gamblers

(8:56) - Alex shares another story relating to using the 3 questions and how “their internal optimism, which is what leads them to be an entrepreneur, ends up weighing against them

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Transcript

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0:00.0	Most of the nation real quick, if you are a business owner that has a big old business
0:04.0	and wants to get to a much bigger business, going to $50, $100,000 plus we would love to talk to you.
0:09.4	And if you like that or would like to hear more about it, go to acquisition.com and you can
0:13.2	play anywhere on the page and talk to one of our team and see if we can help you get there.
0:17.5	Business is different from baseball in that.
0:19.2	Baseball, when you swing for the fences, the most you can ever score is four runs, right?
0:23.7	But in business, every once in a while, when you step up to the plate, if you hit the ball hard enough,
0:27.1	you can score a thousand runs.
0:28.6	If you have a chance of 100 times payoff and you've got a one at a 10 chance of hitting it,
0:34.4	you should take that bet every time.
0:35.9	I think that that's not, it's correct mathematically.
0:39.7	But in practicality, I think there's another sentence that needs to be added to it.
0:43.4	Welcome to the Jim Seagrard's podcast where you talk about how to get more customers,
0:47.1	how to make more customers and how to keep them longer.
0:49.5	And the many failures and lessons that we have learned along the way,
0:52.9	I hope you enjoy and subscribe.
0:55.9	What's going on, everyone?
0:57.9	Happy, I think today's Saturday.
0:59.9	Give you a nice, beautiful lake view.
1:03.9	Very, very pretty out here.
1:05.9	We're in a bearer lake on the quarter of Utah in Idaho.
1:08.9	But recently, I've been spending a lot of time reading.
	...

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