Why Looking for the Right Founder Is Important | Ep 644

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 12 December 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

(This episode is a re-run. Original airdate was May 03, 2022)

“It takes years, not months.” Today, Alex (@AlexHormozi) discusses the importance of finding the right founder for a company. He emphasizes the qualities and traits they look for in founders when considering investment opportunities.

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:

(1:47) - Three disqualifying traits for founders: ego, lack of focus, emotional reactivity.

(4:50) - Impact of leadership dynamics on company's success.

(6:36) - Strategies for improving focus and judgment in team selection.

(9:45) - Ego: talk less, listen more, test self-awareness.

(12:22) - Work on yourself to become worthy of success.

Follow Alex Hormozi’s Socials:

Transcript

Click on a timestamp to play from that location

0:00.0	It takes a focus and determination and perseverance to continue to build something big.
0:04.0	It takes years, not months. And so you have to have somebody who can lock in on a target and drive towards that for years.
0:13.0	Welcome to the game where we talk about how to sell more stuff to more people in more ways and build businesses worth owning.
0:18.0	I'm trying to build a billion dollar thing with acquisition.com.
0:21.0	I always wish Bessos, Musk, and Buffett had documented their journey, so I'm doing it for the rest of us. Please share and enjoy.
0:28.6	I want to talk to you about some of the things that we look at in the companies that we're looking to invest in.
0:33.2	And you can take these frames in terms of how we perceive the value of a founder and or their company
0:38.6	and how you can translate it into your own business.
0:41.2	So you've probably heard that fundamentally
0:43.9	I'm gonna look at the founder themselves
0:46.7	and I'm gonna look at the opportunity they're pursuing.
0:48.6	So there's kind of two elements here,
0:50.3	or really three.
0:51.0	There's the who are we serving, how is the business structured, and who is the founder, right? And I have a 55 minute presentation that goes on this in a lot of depth, but I want to give you the back of napkin quick look at this.
1:03.1	And so if I'm looking at a founder and just a few years are curious,
1:06.9	80% of our decision is weighted around the founder.
1:09.3	Here's why.
1:10.5	I can change the market that we're serving. I can change and improve the business
1:14.3	model that we're using. I cannot change the founder. And so that is where 80% of our attention
1:19.2	goes in terms of whether or not we want to take on a business, right? If the, you know If the business is doing 3 million or more a year,
1:24.8	you know, their service you learning coaching type business.
1:27.5	Like if they check those boxes, they're US-based,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Alex Hormozi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Alex Hormozi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.