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The Game with Alex Hormozi

The Biggest Mistake I’ve Made in Business | Ep 177

The Game with Alex Hormozi

Alex Hormozi

Education, Entrepreneurship, Business, How To

4.94.8K Ratings

🗓️ 5 February 2020

⏱️ 11 minutes

🧾️ Download transcript

Summary

"The number one reason that people fail is because they are successful, then they change something." Today, Alex (@AlexHormozi) discusses the biggest mistake that successful entrepreneurs make: not being able to repeat successful actions. He explains that it is important to focus on quality assurance and consistently do the same actions to sustain success, even if it is boring.

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

Timestamps:

(1:10) - Not repeating successful actions leads to common mistakes.

(3:22) - Learn to say no, as the temptress of skill increases.

(4:10) - Bergman trap: fail and know why you failed correctly.

(6:51) - Profit comes from repeating the same actions, entrepreneurs get bored.

(8:41) - Quality assurance and consistent actions for continuous successful profit.

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Transcript

Click on a timestamp to play from that location

0:00.0

Real quick, you guys already know that I don't run any ads on this and I don't sell anything.

0:04.6

The only ask that I can ever have are you guys that you help me spread the words.

0:07.8

We can not more entrepreneurs, make more money, feed their families,

0:10.9

make better products, and have better experiences for their employees and customers.

0:14.9

The only way we do that is if you can rate and review and share this podcast.

0:19.4

The single thing that I have to do is leave review.

0:21.9

I'll take you 10 seconds or one type of the thought of me, the absolute world to me.

0:25.3

More importantly, it may change the world of someone else.

0:28.3

The number one reason that people fail is because they are successful,

0:32.5

then they change something.

0:36.0

Welcome to the Jim Secrets Podcast where you talk about how to get more customers,

0:38.9

how to make more customers and how to keep them longer.

0:41.4

And the many failures and lessons that we have learned along the way.

0:44.8

I hope you enjoy and subscribe.

0:48.8

Talk to you about something today that is probably the biggest mistake that I've ever made

0:52.9

and that I've repeatedly made.

0:54.2

Hopefully a heat of warning and explanation of how to avoid that same mistake.

0:58.9

Honestly, it's probably the number one biggest mistake that successful entrepreneurs make.

1:02.8

I say successful with a grain of salt because success is defined however you want it.

1:08.4

But basically, once you've accomplished something that you set out to accomplish,

1:11.7

I would say, in, doesn't matter what level it could be making your first sale,

1:16.3

that this is the number one issue that people make.

...

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