The Biggest Mistakes that Entrepreneurs Make | Ep 654

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 4 January 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

“The only reason you shouldn't be doing more reps and adding to the bar, adding to the stuff that you sell, is that you literally have no more people to sell to. And until you have that problem, you should focus on the one thing.” Today, Alex (@AlexHormozi) discusses a common mistake that entrepreneurs do when it comes to taking on more opportunities than they can handle, the parallel between lifting weights and doing business, and why focusing on one thing at a time will give you the best results than dipping your feet into many ponds at the same time.

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:

(1:33) - Gym analogy: understanding business complexity

(3:05) - Pitfalls of over-expansion in business

(4:44) - The solution: Simplifying and focusing

(7:40) - Personal experience and final thoughts

Follow Alex Hormozi’s Socials:

(This episode is a re-run. Original airdate was September 8, 2022)

Transcript

Click on a timestamp to play from that location

0:00.0	The biggest mistake that I see entrepreneurs who are at, you know, two million, three million, five million,
0:04.1	is that they are trying to solve their business growth problem by just coming out with thing after thing after thing after thing for that audience
0:11.3	rather than thinking, maybe I should expand my audience.
0:14.3	Welcome to the game where we talk about how to sell more stuff to more people in
0:20.1	more ways and build businesses worth owning. I'm trying to build a billion dollar thing with acquisition.com.
0:25.0	I always wish Bessos, Musk, and Buffett had documented their journey,
0:28.0	so I'm doing it for the rest of us.
0:29.2	Please share and enjoy.
0:39.1	Mark Bell just flew out, awesome guy to do a podcast here with me in Vegas. We worked out, shot the shit, it was a great time, and there was this really important point where he said, you know, I wish more people would just
0:45.3	peel weight off the bar. He said, I always respect a guy who's lifting with stronger guys and says, you know, guys,
0:49.7	I'm going to peel some weight off so that I can do this weight the right way.
0:52.8	And I thought it was such a beautiful parallel in business
0:55.6	and one of the most common mistakes in business that I see entrepreneurs at all levels
0:59.2	make.
1:00.2	So Acquisition.com probably talks to 25 new companies a week that are coming out, you know, approaching us about us potentially, you know, investing in their companies.
1:09.0	And one of my biggest pet peeves, comma, entrepreneurial mistakes that I see across the board, especially
1:16.5	in that like sub 5 million range, is something that will destroy your business for the long haul.
1:25.0	And the reason is not because the strategy is wrong,
1:28.0	but because it's too advanced.
1:30.0	And I will explain what I mean in a second.
1:33.2	So the easiest analogy for what I'm going to try to explain is something that hopefully people
1:38.4	can resonate with at the gym.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Alex Hormozi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Alex Hormozi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.