"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:
(0:47) - Difference between reinvesting in business versus reinvesting in self
(2:49) - Take more money out to need to make more money
(6:07) - Losing on profit and valuation of business by keeping money
(9:16) - Rip out as much cash as possible every month
(12:23) - Prioritize maximizing monthly profits, keep in mind the cyclical nature of the business.
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(This episode is a re-run. Original airdate was March 3, 2020)
