Alex Hormozi - How to get SO rich you question the meaning of making money.
In this compelling video, the speaker unravels the secrets of financial success, urging viewers to prioritize leveraging time and resources, honing in on a singular focus, and embracing continuous improvement. The discourse begins with a personal success story, where the speaker earned more in a year than several CEOs combined. The talk challenges conventional notions, asserting that hard work alone is not the sole path to financial triumph. Instead, the emphasis is on increasing output through leverage, skill, and speed, outmaneuvering competitors with strategic leveraging. The speaker navigates through the complexities of financial success, delving into the stages of overcoming challenges, staying focused, and learning from failures. Throughout, the speaker stresses the importance of saying no to distractions, aligning actions with long-term goals, and crafting better offers to enhance one's financial endeavors. With real-life examples and actionable advice, the talk serves as a roadmap for viewers aspiring to achieve financial prosperity.
In this video, the speaker delves into the untold truth about money and provides insights on how to achieve financial success. They emphasize the importance of leveraging time and resources, focusing on one thing, and continuously striving for improvement. The speaker highlights the need to prioritize high-value tasks, say no to distractions, and develop the ability to make tough decisions. They also discuss the power of a better offer and the impact it can have on one's ability to make money. Ultimately, the message is to leverage, focus, and continuously improve in order to increase income and achieve financial success.
See less
00:00:00 In this section, the speaker shares his personal success story, stating that he was able to earn more in a year than the CEOs of several major companies combined. He expresses surprise at his own achievement and acknowledges that it may create envy, anger, skepticism, or confusion in others. He then proceeds to introduce three topics: how making money really works, why new stuff leads to poverty, and why better is the way to go. The speaker challenges the notion that hard work is the only path to financial success and defines work as outputs, which can be maximized by increasing leverage and working faster. He then gives an example of the hardest-working person in the world, who achieved an impressive net worth growth in a year.
00:05:00 In this section, the speaker emphasizes the importance of leveraging and maximizing output in order to succeed in business. He explains that volume, leverage, and skill all play a role in increasing output. Using examples, he illustrates how leveraging can lead to more productivity and success compared to simply working harder or doing more. He also emphasizes the need to out-leverage competitors rather than outwork them. Ultimately, he encourages the audience to focus on obtaining more leverage in order to increase their income and success.
00:10:00 In this section, the speaker discusses how making money is not a binary concept but rather depends on how active one is in terms of leveraging time for more output. They emphasize that time is a limited resource for everyone and how it is allocated affects the returns one receives. The concept of leverage is introduced as the difference between what is put in and what is gained. The speaker also addresses five ways to avoid getting leverage, including uninformed optimism and the cycle of moving from one opportunity to another without learning from previous mistakes. They emphasize the importance of perseverance and learning from failures in order to progress and succeed in making money.
00:15:00 In this section, the speaker discusses the stages of achieving financial success and the mistakes that people commonly make. He emphasizes the importance of getting through the "valley of despair" and reaching a stage of informed optimism in order to make progress in one's financial journey. He also highlights the need to focus on one thing and avoid spreading oneself too thin by engaging in multiple businesses or ventures. The speaker uses an example of a friend who was running a roofing business but got distracted by other ventures, causing him to miss out on potential success. He stresses the importance of perseverance and consistency in order to build something significant and advises against constantly switching directions and not seeking help or learning from others' mistakes. Overall, the key message is to stay focused, resilient, and committed to a specific goal in order to achieve financial success.
00:20:00 In this section, the speaker emphasizes the importance of learning and changing behavior in order to make money. He states that if someone has the same conditions presented to them but doesn't change their behavior, they have not truly learned. He also highlights the significance of focusing on one thing and not being distracted by multiple ventures. He shares a story of a friend who had numerous businesses that didn't make money and advises the audience to pick one venture to focus on and grow it. He explains that competing with someone who is focused on one thing is much easier and that success comes from the ability to say no and make tough decisions. The speaker concludes by sharing a story about using a magic wand to eliminate all side projects and focusing on the one opportunity with the most potential, which led to easy growth. He emphasizes that the riches people want are on the other side of hard conversations and encourages the audience not to shy away from them.
00:25:00 In this section, the speaker emphasizes the importance of being able to say no to distractions and opportunities that may seem appealing but ultimately hinder progress. He uses the metaphor of the woman in the red dress, symbolizing enticing opportunities that can divert focus and spread one too thin. The speaker emphasizes the need to develop the ability to say no to higher-value opportunities as one's success and status increase. He also discusses the importance of patience and acting in alignment with long-term goals, even when it may not feel good in the moment. Ultimately, he encourages individuals to behave in ways that align with the traits they desire to possess, as this will eventually shape their mindset and beliefs.
00:30:00 In this section, the speaker discusses the importance of leveraging and doing things better in order to make more money. They emphasize that being better allows for more leverage, which means getting more from what one puts in. They give examples of how making improvements in various aspects of a business, such as call scripts, content, websites, and offers, can create leverage and lead to greater success. The speaker also emphasizes the importance of doing the less exciting, but necessary, tasks and confronting the work that needs to be done in order to achieve better results. They suggest prioritizing tasks that will yield the most output and ignoring new, exciting opportunities that may be distracting. Ultimately, they highlight the role of being one's own coach and mentor, with the knowledge of what needs to be done and the ability to implement it.
00:35:00 In this section, the speaker emphasizes the importance of focusing on one thing in order to be successful and make more money. They share their personal experience of owning multiple businesses and realizing that their gym launch business was the most profitable and required the least amount of time investment. By selling their other businesses and focusing solely on the gym launch, they were able to achieve significant financial success. They highlight the importance of doing more than anyone else in a particular field in order to become the best, whether it's sales, real estate investing, or any other profession. They also discuss the negative impact of shortcuts and the importance of developing a quality product or service over time, rather than rushing to show immediate growth.
00:40:00 In this section, the speaker emphasizes the importance of leveraging and doing things better in order to increase output and make more money. He stresses the need to focus on building a solid foundation instead of constantly seeking shortcuts. He mentions that small and big businesses operate similarly, with the only difference being the scale of their activities. The speaker suggests implementing practices like split testing landing pages and emails, creating new ads and creative content before they are needed, and role-playing with the sales and customer success teams regularly. He acknowledges that these may seem boring, but they ultimately lead to more profits. The speaker also highlights the significance of committing to consistent activities, divorcing them from specific outcomes, and becoming the type of person who continuously strives for improvement. He concludes by demonstrating the concept of leverage in real-time, showcasing how a single action can be leveraged to achieve greater results.
00:45:00 In this section, the speaker focuses on the power of a better offer and demonstrates it by selling a book for a thousand dollars. He explains that the leverage of a better offer is how much money it can fetch for the same activity. He proceeds to ask who wants the book, and as people stand up, he emphasizes its value by mentioning positive reviews, its best-seller status, and the impact it has had on others' revenue. He adds more value by autographing the book and including his personal cell phone number. The speaker then offers additional services such as reviewing sales calls, rewriting scripts, and providing assistance with traffic and recruitment. He concludes by mentioning that he will feature the person on his channel, which garners significant advertising value.
00:50:00 In this section, the speaker emphasizes the importance of leverage in increasing one's ability to sell and offer. They encourage the audience to focus on one thing for a long time without distraction, aligning all actions to a single outcome. By doing everything they know they should be doing better and saying no to everything except what matters most, success will eventually come. The speaker also mentions how their company, acquisition.com, grows by leveraging the right people, providing them with the necessary knowledge, and showing them the appropriate strategies. They conclude by offering more free courses for those interested in learning more.