From Making Money to Investing: “Should I Do It”? | Ep 30

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 20 April 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

"Everything that makes you good at making money can also make you bad at investing." Today, Leila (@LeilaHormozi) shares with us the challenges entrepreneurs face when investing their money and provides frameworks to help them make smart investment decisions. She also emphasizes the importance of understanding the differences between success principles in business and investing.

Welcome to Build where we talk about the lessons I have learned in scaling big businesses, gaining millions in sales, and helping our portfolio companies do the same. Buckle up, because we’re creating an unshakeable business.

Timestamps:

(1:34) - Money solves small problems but can create bigger ones.

(2:55) - Best investors avoid extremely volatile investments.

(4:03) - More investing time doesn't mean smarter investments.

(5:41) - Working hard doesn't guarantee smart investing decisions.

(6:40) - Too much attention on investing can lead to mistakes.

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Transcript

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0:00.0	There's not a work ethic in investing. Rather, it would be tolerance for less work, I would say.
0:05.6	In fact, I think the people that I know that have the most money from investing don't work much at all.
0:09.6	And that's why they're so good at it.
0:13.4	How do you create an unshakable business? I cross $100 million in net worth by the age of 28.
0:19.0	Now I'm growing Acquis acquisition.com into a billion
0:21.0	dollar portfolio. In this podcast, I share the lessons I've learned in scaling big businesses
0:25.2	and helping our portfolio companies do the same. Buckle up and let's build. Today, what I want to
0:32.4	share with you is a conversation I had with one of our head coaches and one of our companies
0:36.1	about investing and entrepreneurs. And so I want to share with you what our head coaches and one of our companies about investing and
0:37.8	entrepreneurs. And so I want to share with you what I told him and then some frameworks to use
0:42.4	to think about if you are struggling with, do I invest my money? Do I not invest my money? What should I
0:47.2	be doing with it right now? Right. And this is for people that probably haven't started investing
0:51.7	yet, not heavily. And maybe you're not sure if you should, right?
0:55.0	Well, here's what normally happens, right?
0:56.2	So I was talking to the coach and he was like, you know,
0:58.4	a lot of them are just trying to make more money
1:00.0	than they've ever really made in their entire lives.
1:01.8	And so it's stacking up month after month.
1:04.2	And now their whole focus is kind of going to like,
1:06.3	what do I do with this money? This is something that I know all too well. It's something that me and my husband
1:10.9	have had many sleepless nights over because what happens is this, right? So you start a business
1:16.2	and you usually don't have money before. You start the business. You get good at making money,
	...

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