Overcoming Analysis Paralysis | Ep 111

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 31 January 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

“The reality is that every time you make a decision, and you cut off the alternatives, you lose what you could have had.” Today, Leila (@LeilaHormozi) explores strategies for overcoming analysis paralysis, drawing on the speaker's personal experiences and insights. From achieving financial success at a young age to navigating business decisions, Leila emphasizes the importance of making quick and effective choices, bypassing biases, and embracing failure to overcome the fear of judgment and regret.

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:

(1:34) - Personal experience with analysis paralysis

(4:24) - The importance of making decisions

(6:23) - The consequences of delaying decisions

(8:16) - Identifying and testing assumptions

(10:31) - The role of preferences in decision making

(12:59) - Understanding the nature of decisions

(14:06) - Avoiding regret and moving forward

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Transcript

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0:00.0	There will always be assumptions you didn't think of, you didn't know about, etc.
0:03.6	But at some point, you have to be able to put guardrails around yourself so that you're not
0:07.9	sitting in paralysis forever.
0:15.1	How do you create an unshakable business? I cross $100 million in net worth by the age of 28.
0:20.8	Now I'm growing
0:21.3	acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've
0:25.6	learned in scaling big businesses and helping our portfolio companies do the same.
0:29.7	Buckle up and let's build. I just did a live about overcoming procrastination and a lot of people brought up
0:40.0	analysis paralysis. And so that's why I wanted to talk about it today. I think what we first
0:43.9	want to do is define what analysis paralysis is. And I'm going to give it my own definition because
0:50.1	I don't like the dictionary. So I would define analysis paralysis as somebody who is
0:56.1	compulsively analyzing a decision or situation to the point that they are not making a decision,
1:04.4	but rather spending their time analyzing it rather than executing. Here's the thing. I actually
1:10.6	tend to be the type of person who I
1:12.4	always want to get all the information before I make a decision. And I tend to fall into the trap of
1:19.8	wanting to get more information, wanting to do an analysis, wanting to build out a test case,
1:25.0	wanting to build an argument for each side. And I have had to
1:28.6	really learn how to balance making a decision quickly with analyzing my options. And I think that,
1:36.0	like the most common instance of this or the most relevant time that this happened to me was when
1:41.3	I was trying to decide if I wanted to start a business or if I
1:44.5	wanted to and then what business to start? And it was like, do I want to start a business? Do I not want to
1:48.6	start a business? And should I do it now? Should I do it later? And honestly, it was a cycle that was
	...

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