Volatility vs. Risk | Ep 301

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 18 May 2021

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wealth is not a number, it’s a ratio. Today, Alex (@AlexHormozi) talks about a conversation he had with one of his salespeople on how they can increase their wealth by knowing the difference between volatility and risk as well as some practical plans of action that are way more fulfilling than the what people think ultra-wealthy is all about.

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(0:28) - Alex shares a conversation with one of his salespeople about his direction in life

(2:28) - The classic poor person will not know the difference between volatility and risk

(6:05) - Want freedom and peace of mind? Have a strong income-to-expense ratio, pay your debts, etc.

(11:49) - Understand that there are a ton of risks in being an entrepreneur

(16:33) - Alex shares the action plan he made for the person so that he could create the wealth that he wanted

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Transcript

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0:00.0	Hey guys, love that you're listening to the podcast.
0:02.5	If you ever want to have the video version of this, which usually has more effects, more
0:06.6	visuals, more graphs, you know, drawn out stuff, sometimes it can help hit the brain centers
0:11.6	in different ways.
0:12.6	You can check out my YouTube channel.
0:13.6	It's absolutely free.
0:14.6	Go check that out if that's what you are into and if not, keep enjoying the show.
0:18.6	And so the first thing I asked was, do these people who are giving you this advice make
0:22.6	more money than you?
0:23.6	And he said, no.
0:24.6	And I was like, rule number one, do not listen to people poorer than you about advice on
0:28.2	money.
0:29.9	Welcome to the Jim Secrets podcast where you talk about how to get more customers, how
0:32.8	to make more per customer and how to keep them longer.
0:35.2	And the many failures and lessons that we have learned along the way.
0:38.5	I hope you enjoy and subscribe.
0:40.2	What's going on everyone?
0:42.2	Alex was here, CEO of Jim Lashprosti's Labs and Alan and a number of other portfolio
0:47.1	companies that we have.
0:48.1	We did 120 plus million last four years and I have nothing to sell you.
0:52.4	So what I want to do is show you some of the lessons that we have learned along the way.
0:56.6	So volatility and risk.
	...

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