4.9 • 4.4K Ratings
🗓️ 21 October 2024
⏱️ 16 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 | Hey what's going everyone welcome back to the game I'm furthering this spirit of |
0:06.2 | telling you guys what's actually going on in business and maybe it will help apply to your |
0:10.6 | business this week I had a frustrating issue with one of our departments and we have had |
0:17.7 | this recurring issue for three weeks and it's been driving me bananas. One of the things that happened was last week we had the issue, the |
0:26.9 | week before we had the issue, the week before that we had the issue and every time I'd arrive |
0:30.1 | at the call I would expect that the issue had been resolved and it had not been |
0:34.1 | resolved and I heard this thing for Peter Teal it was said that he would |
0:39.7 | mercilessly enforce a single focus policy. |
0:44.0 | The theory or thought behind that is that people often add things to their plates that they know how to solve. |
0:52.0 | And if you were to force rank the impact of the problems that they are solving, they will typically solve lower impact problems that are easier for them to do because everyone loves to |
1:06.2 | cross things off their checklist and feel like they were productive. |
1:10.1 | But the unfortunate thing about business is that most of the big leaps occur by solving more difficult problems, problems with more nuance, more data, more variables, more details, more parties involved. |
1:20.0 | What ends up happening, if you don't apply that kind of militaristic approach to everyone in the team and what they are spending their time on, then you get a poor return of the resources allocated. |
1:33.3 | In this instance, the work of the employees, |
1:35.4 | the work of your team, and you as the business owner, |
1:37.8 | the cash that you're paying them, right? |
1:39.7 | You're getting a worse return. |
1:41.3 | I was thinking about that short when it came to this and so I think |
1:44.7 | there's a couple things that I take away and I'll tell you how we ended up solving the |
1:48.4 | thing. First off, I see strategy, the word is this big amorphous term, fundamentally is prioritization of resources, right? |
1:55.6 | You have unlimited options that you could do. |
1:57.4 | There's a million things you could do in your business to grow it. |
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