540: Alex Hormozi - Creating Confidence, The Art of Selling, Marrying Well, Letting Go of The Need For Approval, Building a Profitable Business, & Never Skipping Dessert
Alex Hormozi, entrepreneur and author of 3 bestselling books, shares insights on creating confidence, the art of selling, marrying well, letting go of the need for approval, building a profitable business, and never skipping dessert. He emphasizes the importance of undeniable proof for confidence and the significance of work shaping you. He also discusses the lenses to consider before marrying someone and the value of documenting your life. Alex shares personal experiences and lessons to inspire fellow entrepreneurs.
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Quick takeaways
Confidence is built through accumulating undeniable proof of one's abilities.
Consistency and patience are essential for long-term success.
Being authentic and staying true to oneself leads to personal growth and fulfillment.
Deep dives
Importance of Evidence and Confidence
The podcast episode emphasizes the significance of evidence when it comes to how people perceive information. The speaker mentions that evidence is the frame through which individuals consume messages, and having evidence enables one to speak confidently about a topic. Examples such as book reviews on Amazon are used to demonstrate how evidence shapes people's perception of information.
The Journey of Building Confidence
The podcast explores the idea that confidence is not developed by simply repeating affirmations, but rather by accumulating a stack of undeniable proof of one's abilities. The speaker highlights the importance of past experiences and data in building confidence. Examples include personal fitness achievements and successful sales records as evidence that leads to confidence.
The Power of Delayed Gratification and Consistency
The podcast delves into the concepts of delayed gratification and consistency. It discusses how consistent effort and a focus on long-term goals can lead to sustained excellence and success. The speaker shares personal experiences of staying consistent and patient despite initial lack of recognition, and the subsequent transition to becoming more visible and recognized in their field.
Main Idea 1
The podcast episode discusses the importance of consistency and staying true to oneself in order to achieve success. The speaker shares personal insights from their own journey, emphasizing the importance of aligning one's work schedule with their natural abilities and interests. They also highlight the significance of making content that is easy and natural to produce, while also resonating with the intended audience. The podcast highlights the role of rebranding and actively promoting the content as factors that contribute to the growth and success of the podcast.
Main Idea 2
The podcast episode explores the concept of being authentic and true to oneself in both personal and professional life. The speaker discusses the importance of defining one's values and sticking to them, even if it means going against the grain or facing judgment from others. The podcast emphasizes the significance of self-acceptance and the realization that the opinions and judgments of others should not dictate one's actions or choices. The speaker also touches on the idea of embracing challenges and conquering big goals as a means of personal growth and fulfillment.
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Alex Hormozi is an entrepreneur, investor, and author of 3 bestselling books $100M Offers, Leads, and Money Models. He’s founded and exited 3 companies, the largest for $46.2M in 2021. He and his wife Leila are the managing partners of Acquisition.com - a portfolio of companies that generate in aggregate $200M per year. He also makes mistakes and candidly shares his painful lessons with other entrepreneurs. Today he publicly documents his lessons on his path from $100M net worth to $1B.
Confidence: “You don't become confident by shouting affirmations in the mirror, but by having a stack of undeniable proof that you are who you say you are. Outwork your self-doubt.”
Work: "The work works on you more than you work on it."
For anyone debating whether to marry a partner. These 2 lenses were useful:
How have my stats changed since they entered my life? (wealth, health, time)
Would I go to war with them?
They flow from what Alex wants:
Growth
Hard goals
Document your life more. Otherwise, you’ll forget the details. And the details are what make it worth remembering. (homework for life)
Alex shared a vulnerable story about not wanting to live anymore when he was 21. He had graduated from Vanderbilt in 3 years (manga cum laude), had a great consulting job, and was on his way up the corporate ladder. And he hated it. He was living his dad's dream, not his own. So he quit. And didn't call his dad until he was well on his way to California to start over.
"A leading indicator that someone is not an independent thinker is that they agree (or disagree) with every single point of a political party. Also applies to seeing no fault (or 100% fault) in particular leaders."
“Volume negates luck”
What makes a great sales professional:
Clear communication
Conviction
Be honest... And have a desire to help your customer
Life Lessons Alex wishes he had learned earlier:
Talk less, listen more… (He messed this up earlier in his career by talking too much)
The hardest respect to earn is one's own
If you want to control what people think, control what they say – “Equip people with simple language so that they can communicate what you do.”
“You get more out of reading 1 book that’s great 5 times, than out of reading 5 mediocre books.” – “If your behavior doesn’t change as a result of reading the book, then it means you’ve learned nothing.”
You are going to die – 2 weeks after you die, most people will have forgotten about you.
Extraordinary accomplishments come from doing ordinary things for extraordinary periods of time.
If it’s worth doing, it’s worth doing well
Be willing to negotiate everything except for your values
Humility - Sacrifice for the group. Give more to the company. Give to the group.
Hormozi Law:
The longer you delay the ask, the bigger the ask you can make. The longer the runway, the bigger the plane that can take off.
"At your funeral, friends and family will argue over who gets what. People will want food to eat. The topic will shift from your life to their lives. They'll drive away thinking about their looming to-do list. Some people won't be able to make it because "something came up." A reminder of the heavy weight we place on things that matter little."
"There’s no greater waste of time than justifying your actions to people who have a life you don’t want."
"The easiest way to change behavior is to change your environment."
Alex's great-great-grandfather had 400 children.
"Never skip dessert."
"My life has never gotten worse by removing mediocre people."
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