The Game with Alex Hormozi Getting Bad Advice from Good People | Ep 687
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Mar 20, 2024 Explore the fine line between good advice and bad decisions in entrepreneurship. Discover the power of going all in when seizing opportunities. Learn about the critical role of quick, calculated decision-making and the importance of understanding opportunity costs. The conversation emphasizes choosing mentors wisely and balancing immediate rewards with long-term goals. It's all about crafting your unique path while embracing risks for greater gains!
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Non-Ideal Outcome for Bigger Win
- Alex Hormozi sold five gyms and closed one, a non-ideal outcome, to pursue a bigger opportunity.
- He prioritized the potential of the new venture over maximizing the sale price of his existing gyms.
Go All In
- Go all in on a new opportunity once you've decided to pursue it.
- Don't let the potential for a slightly better outcome delay your progress.
Opportunity Cost Calculation
- Evaluate decisions based on opportunity cost, comparing potential gains from new ventures against current ones.
- Consider the potential loss of waiting versus the potential gain of immediate action.