Most Businesses Are Worthless | Ep 372

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 22 February 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

No one wants to buy a job. Today, Alex (@AlexHormozi) talks about why most businesses are considered worthless, the actions you need to take to bring more value, and making your business sellable.

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:

(1:23) - Most small businesses do not have value. They are not businesses, but actually jobs. You are not bringing more value to the business

(6:25) - Hire people that will help you run the business like a well-oiled machine. In order to call it a business, lessen taking the reigns by hiring people who are skilled in the positions you have.

(8:50) - If you only care about the money and not the value you gain, you aren’t looking at the business in the long-term aspect. You will burn yourself out by not properly structuring the business and the people you need to help you

(11:11) - Businesses are worthless when they try to sell to everyone, the owner spreads himself too thin by not hiring the right (and enough) people, and not making the business sellable

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Transcript

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0:00.0	Hey guys, real quick.
0:01.0	So Layland and I are definitely working on our social media presence if you guys haven't
0:03.7	noticed.
0:04.7	And we're just breaking now into linked in.
0:06.2	Alright, it's not as bad as I thought.
0:08.0	It's actually been pretty awesome so far.
0:09.6	And you guys have been really cool in there and people are sharing our stuff a lot.
0:12.4	So if we aren't connected on LinkedIn, go ahead and let's connect and let's rock and roll.
0:17.2	99% of businesses end up closing down over a long enough time horizon.
0:24.6	Welcome to the game where we talk about how to get more customers, how to make more
0:27.2	customers, how to keep them longer and the many failures and lessons we have learned
0:30.5	along the way.
0:31.5	I hope you enjoy and subscribe.
0:33.5	99% of businesses end up closing down over a long enough time horizon.
0:41.8	Only 1% of businesses ever get sold or train chance.
0:44.8	And the reason for that is not because, you know, what you might think, right?
0:49.0	You might think that it's because business owners don't know how to sell their business
0:51.7	or don't know how to market the business to get sold.
0:54.0	But that's actually not the real reason.
0:55.6	The real reason is because most businesses are worthless.
0:59.1	And so what I want to talk about today is how to go from a worthless business to a business
1:03.8	that has actual value.
	...

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