The four steps are: 1) Create space by eliminating distractions, 2) Begin taking action, 3) Improve the efficiency of those actions, and 4) Unlock compounding by continuously improving and not stopping those actions.
Eliminating distractions is crucial because focus is defined by the number and quality of things you say no to. By removing everything that isn’t aligned with your primary goal, what remains becomes your focus, allowing you to channel all your energy into what truly matters.
During COVID, 100% of the businesses he served (gyms) were legally shut down, yet they still generated $31 million in sales. This taught him to never let external circumstances dictate his outcomes, focusing only on what he could control.
He highlights that our priorities are dictated by what we spend money on, not by what we say. For example, young girls spending money on makeup to transition into a new identity as women shows that spending reflects and reinforces the identity we want to adopt.
He defines commitment as the elimination of alternatives. For example, in marriage, you eliminate all other potential partners. Similarly, in business, committing to one venture means eliminating all other opportunities, ensuring full focus and dedication to the chosen path.
He advises that ambitious people should surround themselves with friends who have similar levels of dedication and goals. Rare and exceptional friends are by definition rare, so having fewer but higher-quality friendships is more beneficial than having many low-quality ones.
Delaying gratification is a sign of intelligence. The ability to wait for a reward while continuing to work towards a goal increases your rate of learning and long-term success, even if the immediate rewards are delayed.
He believes that failure increases the likelihood of success because it provides feedback and learning opportunities. Winners focus on winning, while losers focus on winners. Embracing failure as part of the process is essential for long-term success.
He suggests eliminating distractions by setting your phone to grayscale, using zero-disturb mode, and removing it from your workspace. Additionally, he emphasizes the importance of time-blocking and measuring actual work time versus perceived work time to improve efficiency.
He advocates for spending money on education and skills, as they provide the highest return on investment. By acquiring skills, you can significantly increase your earning potential, and the sooner you invest in learning, the sooner you can achieve your goals.
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 and will learn on his path from $100M to $1B in net worth.
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