Strategy 101 | Ep 791

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 13 November 2024

⏱️ 18 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	What's going on, everyone? Welcome back to the game. Today, I want to talk about strategy,
0:05.8	which is something that's been top of mind for me over the last few weeks. It's one of these
0:10.4	really amorphous terms that people misunderstand. And I think that maybe listening to this
0:17.1	little excerpt or podcast may be one of the most valuable things you can have in order to grow
0:22.0	your business. I'm sitting here in the office on my own before anyone else has gotten here.
0:27.6	I've been noticing this recurring thing that I've had recently in terms of talking to business
0:30.9	owners and people on my team. Strategy has come under different names. So sometimes you hear people
0:36.2	talk about having high quality decisions, right? Like no one's like, oh, I need to make high quality decisions. It's a little
0:41.0	duh, but it's not very sexy, right? But the thing is that it's arguably the most important
0:46.2	thing. And before you tune out mentally to this, I'm going to try and redefine this for you.
0:51.2	If we think about strategy as prioritization of resources, right, which is what I
0:55.6	define strategy as, which is you have limited resources against unlimited potential options.
1:00.3	Like you can figuratively do unlimited number of things in order to grow a business. And I think
1:05.5	this is where a lot of people get stuck. Strategy, or at least the level of strategy that you
1:10.7	are kind of employing, has a couple of variables. So one or at least the level of strategy that you are kind of employing,
1:12.0	has a couple of variables. So one is what are the resources that you have at your disposal?
1:16.6	And so everybody in the company, as I define it, is a strategist. It's just that the number of
1:22.8	resources that they have under their control or authority are different. I'll give you kind of three
1:28.4	examples across an organization. So like me or you as an entrepreneur, we have all resources
1:34.8	in the company and within our personal network as the thing, that's what we have to allocate.
1:40.6	Our time, effort, money, human capital, relationships. That's what we've got, right?
1:45.1	We need to invest those things or allocate them to the things that give us the best return.
	...

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