Why Your Feelings Are Killing Your Finances | Ep 681

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 6 March 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s important to stay consistent and to make decisions logically and not based on feelings. Today, Alex (@AlexHormozi) discusses the importance of making business decisions without being swayed by emotion, and emphasizes the need for entrepreneurs to stay neutral and make decisions logically. He provides examples of successful business owners who have developed a thick skin and are able to manage their emotions to make difficult decisions.

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:

(1:46) - The impact of emotion on business decisions

(2:24) - The journey to emotional neutrality

(3:20) - The unexpected surprises in business

(4:24) - The power of consistency and routine

(5:43) - The role of math in decision making

(8:30) - The importance of making hard choices

(9:51) - The power of basics in business

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(This episode is a re-run. Original airdate was on April 23, 2019)

Transcript

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0:00.0	And if you cannot quiet your emotions, there's no way that you're going to be able to move to the next level.
0:04.6	And so it does require this sort of deadening of your emotional reactions.
0:09.4	The wealthiest people in the world see business as a game.
0:14.0	This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building
0:17.6	acquisition.com into a billion dollar portfolio.
0:20.0	My hope is that you use the lessons to grow your business and maybe someday soon,
0:22.8	partner with us to get to $100 million and beyond. I hope you share and enjoy.
0:28.8	One of the fun quotes that I love about businesses is business is
0:35.0	business is simply mathematical decisions made within the context of human
0:39.0	psychology, which essentially means that you need to do arithmetic and division and algebra in order to make business decisions and then overlay that on the people that they're going to affect, right?
0:50.0	And so one of the fun things is that if you look at really, really high up CEOs like you look at you know
0:55.2	Elon Musk or you look at Mark Zuckerberg and you listen or Warren Buffett and you listen to them speak right
1:00.9	They sound like computers like Bill Gates. They sound like robots. They sound
1:06.7	devoid of any human emotion and I think that there's the nature and nurture part of it
1:11.0	which is that there's some people who are, you know, CEOs who are, I don't want to say like sociopaths, but like basically who have a little bit less human effect than others. And they're able to make mathematical decisions despite some of the emotions that may be around them,
1:24.4	which actually make better business sense even though they may be difficult.
1:28.7	The thing is that once you get up to that level, that billionaire status, and I'm not there,
1:32.4	but I'm just saying if you observe the people who are there it's a very common trend and I think this is my you know
1:38.8	position is that the reason that they're of human emotion and so the human
1:48.6	within the context of human psychology the second part of that
1:50.9	sentence a lot of times comes into play when you're talking about
1:54.1	sales and marketing and positioning because all of that is soft skills but when it comes to the
	...

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