Through the experience of losing everything twice, the speaker realized that the most valuable assets are skills, experiences, and lessons learned. Each time starting from zero, the speaker emphasized the importance of building businesses based on skills rather than capital investment. By applying lessons learned, the speaker could start new ventures successfully. With a mindset shift away from solely focusing on making money, the speaker now prioritizes reinvesting in people and infrastructure for long-term growth and equity value. The speaker highlights that continuous learning, taking action, and prioritizing learning over income are key to success, as it accumulates valuable knowledge and pays down the 'ignorance tax'.
"The questions you ask dictate the problems you'll solve," Today, Alex (@AlexHormozi) talks about the importance of learning from past mistakes, strategic thinking, and leveraging skills to succeed, including starting ventures without initial capital. The discussion revolves around resilience, innovation, and the power of asking the right questions, leading to the ambitious goal of building a billion-dollar enterprise.
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:
(0:56) - Having a Plan B is beneficial due to unknowns.
(3:47) - Learning from loss: the art of bouncing back
(8:07) - Building businesses with skills, not capital
(14:17) - The philosophy of cashflow positive businesses
(15:29) - Creative problem solving and entrepreneurial questions
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(This episode is a re-run. Original airdate was on October 25, 2022)