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Picking Your Niche | Ep 375
The Game w/ Alex Hormozi
The Importance of Past Experience and Improvement in Business
Most people make a mistake by choosing an ich without understanding the nich. Y Combinator, a venture capital firm in Silicon Valley, looks for past experience in the industry when investing in and accepting businesses into their program. They believe that many new businesses are simply iterations of old ideas. The speaker personally believes in improving existing businesses rather than creating something entirely new. This mindset is underrated because success comes from working hard and knowing how to do business, not necessarily by doing something entirely novel.
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