Why 20 Year Olds Stay Poor | Ep 491

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 26 January 2023

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you’re young and think you know everything? Reality check: you don’t. Today, Alex (@AlexHormozi) talks about why there are so many 20-Year-Olds who aren’t earning as much money as they think they deserve, why they should focus on learning & skill stacking, and why hustling and actually loving the game will benefit them as they grow older.

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:

(1:58) - The longer you delay your earning cycle, you compound your learnings

(7:46) - Start from the bottom, don’t fast-track your way to make money

(9:16) - Keep hustling, keep learning. You’re not as good as you think you are

(12:12) - If you love the game, you don’t care about the short-term earning

(17:43) - 2 steps to stop yourself from falling into this trap of “earning fast”

(19:03) - Understand what season you’re in & focus on compounding your skills

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Transcript

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0:00.0	Most of the nation real quick, if you are a business owner that has a big, old business and wants to get to a much bigger business,
0:06.1	going to $50, $100,000 plus, we would love to talk to you.
0:09.5	And if you like that or would like to hear more about it, go to acquisition.com and you can plan anywhere on the page,
0:14.3	and talk to one of our team and see if we can help you get there.
0:17.6	So the most important thing you have to realize when you're in your 20s is what season you are in.
0:22.1	You have to stop comparing yourself to people who are earning more than you,
0:25.6	because it means that what they're doing is often short-changing their long-term earning for short-term earning.
0:30.6	Welcome to the game where we talk about how to sell more stuff to more people in more ways and build businesses worth owning.
0:37.1	I'm trying to build a billion dollar thing with acquisition.com.
0:39.7	I always wish Bayzo's musk and Buffett had documented their journey, so I'm doing it for the rest of us.
0:43.9	Please share and enjoy.
0:45.9	20-year-old state poor because they think that their side hustle has to become their main hustle,
0:51.6	and they see lots of influencers all over the internet, and they consume my stuff, or whatever.
0:56.3	And the thing is, is they will lack context.
0:58.8	They will think that a big business lesson will apply to them today,
1:01.9	and say, have the right lesson at the wrong time, which still makes it the wrong lesson.
1:05.4	And so what they're trying to do is they're trying to earn and learn, or earn rather than learn.
1:11.2	And the thing is, is that the company that happens in your earning is just like the game of cashflow.
1:16.6	This may be a game that was before your time, if you're 20 and you're watching this,
1:19.6	but basically with this little board game, where everybody starts at the same, you roll dice,
1:24.0	and you keep moving along the board.
1:25.5	And as soon as you graduate high school, you have the option of starting a job
	...

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