How to Start a Business | Ep 514

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 21 March 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

“Intelligence is actually a speed, it's rate of learning.” Today, Alex (@AlexHormozi) breaks down the steps needed to start a business and make money, including setting up an entity, obtaining a bank account and payment processor, and identifying what to sell and to whom. He also emphasizes the importance of solving problems and providing value to customers, and advises starting with providing services for free to gain experience and build a customer base.

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.

Timestamps:

(1:34) - How to start a business & 6 types of products to sell

(3:24) - Identify what to sell & solve other’s problems

(7:54) - The problem is you’re afraid to start a business

(9:15) Change behavior to learn and become smarter

(11:38) - Decide if you focus on the technical or business aspect.

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Transcript

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0:00.0	Real quick, you guys already know that I don't run any ads on this and I don't sell anything.
0:04.6	The only ask that I can ever have are you guys that you help me spread the words.
0:07.8	We can not more entrepreneurs, make more money, feed their families,
0:10.9	make better products, and have better experiences for their employees and customers.
0:14.9	The only way we do that is if you can rate and review and share this podcast.
0:19.4	The single thing that I have to do is leave review.
0:21.9	I'll take you 10 seconds or one type of the thumb.
0:23.9	It would mean the absolute world to me.
0:25.2	More importantly, it may change the world of someone else.
0:28.0	If you want to be smarter, you can actually make yourself smarter by simply doing things
0:32.9	differently, by taking action, by changing your behavior.
0:35.8	And so the faster you change your behavior, speed of change, the smarter you are.
0:41.4	Welcome to the game where we talk about how to sell more stuff to more people in more ways and
0:44.9	build businesses worth owning. I'm trying to build a billion dollar thing with acquisition.com.
0:49.1	I always wish pesos, musk and buffet had documented their journey, so I'm doing it for the rest of us.
0:53.3	Please share and enjoy.
0:54.7	I pulled my audience in 76% of you want to start a business, but haven't.
1:00.4	Most of the other stuff I make is for people who are trying to go from a million to 10 million
1:03.2	to 10 million to 100 million, etc. But today is dedicated to you guys.
1:06.4	And the spirit of this is because I went to dinner with eight 20-year-olds who were in their
1:10.0	senior year of college, and they told me six months earlier that they all wanted to start businesses.
1:13.6	And six months later, I had dinner with them and I was like, hey, where are we out of those
	...

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