4.9 • 4.4K Ratings
🗓️ 25 October 2024
⏱️ 19 minutes
🧾️ Download transcript
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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0:00.0 | What's going on everyone? I actually do have something that I think will one make you a lot more money and two make your life a lot better as an entrepreneur. |
0:10.7 | Laille and I were in this very deep discussion the other day of all the stuff that was on my plate. |
0:15.2 | And so she and I do this on a regular basis because I tend to get overwhelmed with the amount of work that's put in front of us. |
0:21.1 | And she does too. |
0:22.1 | And so this is a habit that we've done. |
0:24.0 | And so if you have an operator or somebody who's number two in your business, |
0:27.0 | I would encourage you to do this on a regular basis and we don't do it often enough. |
0:31.0 | But we tend to basically do it when one of us gets stressed out of our mind and it's like, I can't do it often enough. But we tend to basically do it when one of us gets |
0:33.4 | stressed out of our mind and it's like I can't handle all this. One of the things that she |
0:36.8 | brought up was such a powerful frame and I feel almost embarrassed that I've |
0:40.9 | never made this delineation until now and I want to just hopefully give you |
0:44.6 | 13 years back of stress that I'm looking forward to not having as much of which is we need to |
0:51.7 | understand the difference between problems and missed opportunities. |
0:55.0 | And so, what does that mean? |
0:57.0 | So a problem is something that threatens the future livelihood of your business. |
1:02.0 | So it decreases the likely that your |
1:03.7 | business will continue to exist. So for example if you get customer |
1:06.9 | complaints from your product that is a problem. If your processor, you know |
1:11.5 | relationship becomes a red flag, that is a problem. |
1:15.6 | If you, your sales team starts dropping conversions, that is a problem. |
1:20.2 | These are things that threaten whether or not you're going to be alive tomorrow. |
1:24.0 | The second bucket are missed opportunities. |
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