I Spoke my Wealth Into Existence | Ep 662

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 23 January 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

“I chose to stop giving trauma power.” Today, Alex (@AlexHormozi) shares powerful insights about the importance of character traits in achieving entrepreneurial success. He discusses how the beliefs, skills, and character traits we possess directly impact our business performance. He explains how some entrepreneurs struggle with the stories they tell themselves, which become obstacles in their path 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:

(0:34) - The power of self-narratives

(2:47) - The importance of character traits

(4:47) - The role of beliefs and insecurities

(6:22) - Changing your identity and character traits

(9:00) - Transforming negative character traits

(11:11) - The impact of character on business success

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(This episode is a re-run. Original airdate was on August 11, 2022)

Transcript

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0:00.0	And so what you have to do is you have to peel in your past and say,
0:02.6	when did I exhibit these things?
0:04.0	Because all of us have exhibited these character traits at some point in our life.
0:07.6	And then what you do is you say, I am this way because, and then you tell yourself the stories of the things you did in the past that exhibited those traits.
0:18.8	Welcome to the game where we talk about how to sell more stuff to more people in more ways and
0:22.4	build businesses worth owning.
0:24.0	I'm trying to build a billion dollar thing with acquisition.com.
0:26.6	I always wish Bessos, Musk and Buffett had documented their journey, so I'm doing it for the rest of us.
0:30.8	Please share and enjoy. The most powerful things that change our
0:36.0	behavior and our character are the stories we tell ourselves. I think that when I
0:40.9	started out in business I heard all these things in the personal development space like you should read these affirmations every morning
0:46.0	blah blah blah blah blah. I never did that and it was because it felt stupid to me now that being said there might be some people who've had life-changing results from doing that. But what I did notice is that the stories I would tell myself about myself were the things that changed my beliefs. They were the things that changed my character.
1:03.0	And so a lot of times I've talked about how
1:05.0	entrepreneurship is about three things.
1:07.0	It's about changing the beliefs that you have.
1:09.0	It's about increasing the skill set that you have.
1:11.0	And then the character traits that go along with that to make sure the skills are successful.
1:15.0	So I'll give you a simple example for this.
1:16.7	So a friend of mine, he started a fitness app.
1:18.6	It was doing about $20,000 a month.
1:20.0	He was a top cross-fit games competitor, but he was really ashamed because he wasn't the winner he was like you know really really highly ranked one but he wasn't the winner and so he felt he believed that his app wasn't good enough and so he never promoted it. So it grew to $20,000 a month in
1:33.8	revenue with him doing zero promotion, right? And when he realized that it was okay for him
	...

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