Mastering The Game of Money | Ep 162

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 19 July 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

“What do I want to happen from making this money?” Today, Leila (@LeilaHormozi) delves into the mindset and strategies necessary to achieve financial success and build an unshakable business. She explores key principles on understanding money as a game, using it as a tool, the importance of measuring financial metrics, and adopting a long-term mindset.

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:

(0:36) - Learning the rules of money

(2:22) - The importance of market selection

(4:43) - Money as a tool & creating value

(9:04) - The power of measurement

(12:35) - Long-term money decisions

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Transcript

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0:00.0	Most of times when people don't have the kind of money they want, they ignore looking at their
0:03.5	money. They don't look at their bank account. They don't measure. They're not counting how much they're
0:07.0	spending. And that is the exact behavior that keeps you poor and stuck.
0:15.5	How do you create an unshakable business? I cross $100 million in net worth by the age of 28.
0:21.7	Now I'm growing Acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've learned
0:26.3	in scaling big businesses and helping our portfolio companies do the same. Buckle up and let's build.
0:36.4	One of my favorite principles is understanding that money is a game. I did not understand this
0:41.6	when I did not have as much money. I thought that you had to be this like, superiorly intelligent,
0:47.5	crazy, hardworking, amazing human of high character to make money and be worthy of having money.
0:53.4	And it wasn't until I actually went to
0:55.3	this mastermind in 2016 when I remember it clicked for me that none of that was true. So I had just
1:02.5	quit my job, started our first business and went to this mastermind and wasn't really making
1:08.3	much money at the time. It was actually just in the like eating phase. And I
1:12.4	remember this guy got on stage. I remember the first thing he said. He's like, oh, you know, I've been
1:17.1	stuck at like 400K a month for like three months. I can't seem to beat the 400K wall. Everything else he
1:24.1	said, I just completely forgot. All I heard was like this guy, this guy that I am clearly smarter than, this guy that I am clearly a nicer person then, this guy that I clearly work harder than, he's making 40 times as much money as me.
1:37.7	And I remember I literally walked out of the room and I called my dad. And I was like, dad, I'm going to do this. I'm never looking back. I'm never
1:45.4	going to get a job again. I'm never going to do anything again. This guy is a complete idiot and is making
1:50.2	40 times the amount of money is me. If he can do it, I can do it. And that was the best thing that could
1:55.9	have ever happened to me. Because what I realized is that making money is not something that requires superior
2:02.3	intelligence or hard work. It's understanding money. Money itself is a game and you have to
2:08.4	understand the rules of the game and how to play it to make it. You can look at that as a good or bad
	...

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