4.9 • 4.4K Ratings
🗓️ 17 December 2022
⏱️ 27 minutes
🧾️ Download transcript
“You can either let life beat the strength out of you, or you can let it beat into you…” Today, join Alex (@AlexHormozi) as he guests on Ed Mylett’s Show to talk about his definitions of what opportunity and leverage mean to him, the everyday urgency blueprint, and overcoming his struggle to “prove to a fictitious person that they’re wrong”. This is part 1 of the interview.
Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.
Check out the episode on Ed Mylett’s YouTube Channel!
Timestamps:
(1:27) - What the term “opportunity” means to Alex, & the importance of leverage
(6:39) - Alex’s definition of leverage & the four different types of leverage
(12:22) The other type of leverage and “trying to prove to a fictitious person that they are wrong”
(16:23) - how did Alex overcome the struggle of trying to prove himself to his dad?
(19:13) - Alex’s perspective on living in the present and practicing gratitude
(24:53) - The Everyday Urgency Blueprint: doing the boring work, repeating successful actions over and over again.
Follow Alex Hormozi’s Socials:
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Click on a timestamp to play from that location
0:00.0 | I was thinking about my 85 year old self, and I know that that man looking back at me today would trade everything he has to be 32 again. |
0:08.0 | And not only just 32 again, he'd be 32 and picking up trash, having nothing. I know that I would trade all my wealth to do that. |
0:15.0 | The wealthiest people in the world see business as a game. This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building acquisition.com into a billion dollar portfolio. |
0:24.0 | I hope that you use the lessons to grow your business and maybe someday soon partner with us to get $200 million in beyond. I hope you share and enjoy. |
0:31.0 | I have been looking forward to this interview for a few weeks. Mutual friends of ours that turn me on to Alex said you need to get with this young man and get him on your show. |
0:40.0 | And then when I dove into his content and his work, I was blown away. |
0:44.0 | I don't say that very often when I introduce people, I think he's probably got one of the highest IQs of anybody I've ever had on the show. |
0:50.0 | And his content as it relates to personal success and particularly entrepreneurship is very unique, very special, very detailed. |
0:58.0 | And I wish we had three hours today like other podcasts have because we could we could use that entire three hours and still have a bunch of time and stuff left over. |
1:06.0 | I was so impressed with him. I went into all of his content and I said can you be here next week, like one week from now? |
1:11.0 | And he goes you up on there and then he looked I think it was your anniversary or something. So I gave him a reprieve for a couple weeks and now he's here today. |
1:17.0 | You guys this is like you're on the treadmill. You're going to start running faster than you normally run and you're going to want to get to a notepad too. |
1:23.0 | So here we go. Let's just dive into all your stuff. We're going to go all over the place. |
1:27.0 | You have this really unique definition of even what opportunity is in and of itself that I've never heard before. |
1:32.0 | So how would you define like just the term and the the concept of opportunity? |
1:38.0 | So something that I was analyzing a lot because we get lots of entrepreneurs who are like hey, which today with my life, etc. |
1:43.0 | And when I look at how my income has increased, you know, throughout my career, a lot of times it wasn't a function of the work ethic in the beginning. |
1:51.0 | You have to work, right? But then the next big lever on that is the opportunity. |
1:57.0 | And so if you think about any kind of output in a system as volume times leverage equals output, the work has to start. |
2:03.0 | So you have to have something to multiply, which is the effort. And then the next is is that leverage. |
2:08.0 | And so within the context of a business, I tried to define it for myself, which was how many potential units of the product can I sell? |
2:17.0 | And then what is the gross margin potential of the product that I'm trying to sell? |
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