The Game with Alex Hormozi When to Decide to Start Spending Money | Ep 408
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Jul 12, 2022 Alex shares his journey of living on $0 income for three years while building his business. He dives into the importance of identifying what truly adds value to your life versus succumbing to societal pressures. The discussion touches on balancing growth and expenses, emphasizing the need to prioritize spending on meaningful pursuits. Insights on cash management and risk reduction in business are shared, painting a picture of financial strategy that can lead to successful entrepreneurship.
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Early Frugality
- Alex Hormozi slept on the gym floor and lived on cash sales from his business, primarily Chipotle.
- His accountant noted over 500 Chipotle transactions in the first year because it was cheaper than groceries and cooking.
Three Years on $70,000
- After saving $70,000, Alex lived on it for three years while reinvesting business profits.
- He rented a shared room for $400-$700 and continued eating mainly Chipotle.
Take Distributions
- Take distributions as your business grows to de-risk yourself and ensure you benefit from your work.
- Alex learned this after losing everything multiple times despite business growth.
