When To Take The Chips Off The Table | Ep 184

The Game with Alex Hormozi

Alex Hormozi

How To, Business, Entrepreneurship, Education

4.9 • 4.8K Ratings

🗓️ 3 March 2020

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"The objective of a business is to make a profit (…) That is what separates it from a nonprofit.” Today, Alex (@AlexHormozi) discusses the importance of taking profits out of your business and investing in yourself rather than constantly reinvesting in the business. He emphasizes the cyclical nature of the business and the need to be disciplined in taking money out every month to increase net worth and prepare for potential downturns.

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:

(0:57) - Difference between reinvesting in business versus reinvesting in self

(3:00) - Take more money out to need to make more money

(6:18) - Losing on profit and valuation of business by keeping money

(9:26) - Rip out as much cash as possible every month

(12:33) - Prioritize maximizing monthly profits, keep in mind the cyclical nature of the business.

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Transcript

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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 thumb.
0:23.9	It would mean the absolute world to me.
0:25.2	More importantly, it may change the world of someone else.
0:28.5	The objective of a business is to make a profit.
0:31.7	That is the point.
0:32.4	That is what separates it from a nonprofit.
0:34.5	And so it is my belief that you should take as much money as you can out
0:40.1	more than you probably feel comfortable with.
0:43.4	Welcome to the Jim Secrets Podcast where you talk about how to get more customers,
0:46.4	how to make more per customer and how to keep them longer.
0:48.8	And the many failures and lessons that we have learned along the way.
0:52.2	I hope you enjoy and subscribe.
0:54.5	What is going on everyone?
0:56.0	Happy Tuesday.
0:56.8	Hope you guys are rocking and rolling.
0:58.5	I wanted to talk about something that is a little different than the actual business,
	...

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