Mismatch of Risk Appetite When Hiring | Ep 792

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 18 November 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 and will learn on his path from $100M to $1B in net worth.

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Transcript

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0:00.0	Hey, what's going to everyone? Welcome back to the game. We're talking about making more money
0:03.5	and fun stuff like that. Today, I want to talk about lifestyle limiting your growth as an entrepreneur
0:10.9	or as an even an individual. And so I've had this recurring theme the last, I want to call it,
0:16.4	year where I've had a few, I'll call it high level entrepreneurs, reach out and say,
0:23.1	hey, I'd love to work at acquisition.com. I'd love to leave a department or a division.
0:28.8	It's been kind of interesting. And I was talking to a good friend of mine,
0:32.8	Sharon Zavatsa, who's president of Real Brokridge, it's a public traded company.
0:36.8	We were talking about this
0:38.8	really interesting topic, which is basically the entry point of talent. And so this will be a
0:45.5	little bit more of probably, I guess if you're an entrepreneur, those will be a higher level
0:49.1	conversation, but if you're the person who's considering making one of these jumps, then it'll
0:54.1	be a conversation that'll be relevant for you just on the other side. And if you, the person who's considering making one of these jumps, then it'll be a conversation
0:55.2	that'll be relevant for you just on the other side. And a few entrepreneurs reach out to me and
0:59.6	basically say, hey, I'm willing to give up my current business and income in order to join you
1:04.0	at Acquisition.com, which I'm super flattered by. One of the things that came up when I was talking
1:08.8	to Sharon about this was one of the difficulties
1:11.5	to figuring out compensation. I realized in both incidents that I failed to figure out some
1:17.3	sort of deal that would work was there was an element of risk that was not being taken into
1:23.0	consideration by the former entrepreneurs or the, you know, would-be, would-be employees, teammates, whatever you
1:28.7	want to call it, the talent. The issue comes down to this, and he was telling me advice that he got
1:33.1	from his uncle, who, so Sherrod was telling me this about his uncle, who's had like three
1:38.8	unicorn startups that he's like co-founded. The guy's just like a savage. And so anyways, he was giving
	...

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