4.9 • 4.4K Ratings
🗓️ 5 December 2023
⏱️ 9 minutes
🧾️ Download transcript
(This episode is a re-run. Original airdate was May 26, 2022)
“You can tell how wealthy someone is by their perspective on time.” Today, Alex (@AlexHormozi) discusses the difference between the mindset of rich dads and poor dads regarding higher leverage opportunities. He also explores the importance of measuring sticks in terms of money and time, and how aligning oneself with individuals who have larger units of measurement can lead to success.
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:
(1:45) - Hang around people with bigger units of measurement for money
(3:23) - Identify the unit of measurement people use for money
(4:38) - Wealthy people act faster and utilize time better
(6:36) - Switch from end of week to end of day as default
(7:41) - Impulse control and self-restraint are key drivers of success
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0:00.0 | The difference between rich dads and poor dads and what they teach their kids is that rich dads in general will teach their kids to go after higher leverage opportunities. |
0:09.6 | They'll go after opportunities that have bigger base units of measurement, bigger |
0:13.7 | base units of money that they can compile together. |
0:17.0 | Welcome to the game where we talk about how to sell more stuff to more people in |
0:22.2 | more ways and build businesses worth owning. |
0:24.4 | I'm trying to build a billion dollar thing with acquisition.com. I always wish |
0:27.6 | Basos, Musk and Buffett had documented their journey, so I'm doing it for the rest of us. |
0:31.1 | Please share and enjoy. |
0:36.2 | I'm gonna give you two ways to identify how wealthy someone else is going to be in the future |
0:38.8 | and how you can align yourself |
0:40.6 | with those individual character traits. This came from a conversation that I was having with a good |
0:44.9 | friend of mine, he exited his company for like half, just under half a billion and we were just having |
0:50.8 | like a philosophical conversation around, |
0:53.0 | you know, what is it that makes people successful and what are kind of the things |
0:56.4 | that you can identify early or mindset shifts in terms of perspective |
1:01.2 | that allow people to have an unfair advantage. |
1:03.4 | And so it, you know, if you followed any of my stuff, I talk a lot about time, I talk a lot about |
1:07.5 | money. |
1:08.5 | And so it's unsurprising that the two traits have to do one with time and the other with money. And so one of the things that's interesting about this is the concept of measuring sticks. And so a lot of us have these base units that we measure things in and it's kind of like shorthand that you use in your brain and so I'll give you a simple example. |
1:25.2 | So when I was in high school I used to measure you know how much money something was by the amount of |
1:30.8 | Tripoli burritos I could buy and because I used to probably Burritos I could buy. |
1:32.6 | And because I used Chipotle Britos, |
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