The Game with Alex Hormozi The Entrepreneurial Journey | Ep 705
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May 1, 2024 Navigating the delicate balance between control and delegation is key for entrepreneurs. The discussion dives into the uncomfortable yet necessary shift from wanting to control everything to empowering your team. Understanding your business's intricacies is vital for personal growth and business success. Overcoming trust issues helps entrepreneurs scale effectively, allowing them to reclaim time and focus on strategic growth. Personal barriers to success are also examined, highlighting the transformative journey of leadership.
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Entrepreneurial Journey and Control
- Entrepreneurship requires changing your identity and how you operate.
- You must transition from a lack of control to complete control, then relinquish control as you grow.
Buy Back Your Time
- Buy back your time by delegating tasks, starting with lower-skilled support.
- Then, delegate higher-level tasks like admin, billing, and eventually sales.
Gym Owner Example
- Gym owners often resist delegating training because "no one trains like I do."
- They should outsource $15/hour tasks and focus on higher-value work.