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$100m CEO Alex Hormozi's advice for entrepreneurs #shorts

2022-12-19 · Short · Ali, Alex Hormozi · recording, 0:59 · watch on YouTube

Topic: Business and entrepreneurship · mode: Conversation and interview

Asked by Ali what most people get wrong about starting a business, Alex Hormozi says not to expect a perfect business or a lifelong first venture: start something you are good enough at to learn the game, take steps rather than plan far ahead, and do better what others already do.

What is said

The parts of the video and what is said in each (★ — how much it matters to the video).

00:00:00 — Ali introduces Alex Hormozi and his question

  • ★ Ali says Alex Hormozi crossed $100 million in net worth by age 32. — 00:00:00

00:00:08 — Hormozi on what people get wrong about starting a business

  • ★★ Alex Hormozi says the big problem is that people expect to have a perfect business: apart from Jeff Bezos, a freak of nature, most entrepreneurs have a graveyard of failures behind them. — 00:00:08
  • ★★ Alex Hormozi says to start a business not as the one thing you will do for the rest of your life, the fallacy employees have, but as something you are good enough at to learn the game. — 00:00:16

  • ★★★ Alex Hormozi says that once you start taking steps, the next step becomes illuminated; trying to think a hundred steps ahead with no context is pointless, because chaos will break your plan. — 00:00:27

    “once you start taking steps, the next step becomes illuminated.”

  • ★★★ Alex Hormozi says you need no novel idea to start a business: look at what others do and do it a little better, solving a specific problem you know from your own skills or past experience sucks for people, even if others solve it too. — 00:00:38

Threads in this video

  • restate · How do you learn how to start and run a business? — Alex Hormozi says to start a business not as the one thing you will do for the rest of your life, the fallacy employees have, but as something you are good enough at to learn the game. (00:00:16)
  • restate · Should you plan things out first or just start? — Alex Hormozi says that once you start taking steps, the next step becomes illuminated; trying to think a hundred steps ahead with no context is pointless, because chaos will break your plan. (00:00:27)
  • restate · How do you find a business idea? — Alex Hormozi says you need no novel idea to start a business: look at what others do and do it a little better, solving a specific problem you know from your own skills or past experience sucks for people, even if others solve it too. (00:00:38)

Mentioned

Central: Alex Hormozi

Also: Jeff Bezos

Also centred on Alex Hormozi: I Asked 15 Experts For Life Advice. Here's What I Learned. · Which business would Alex Hormozi start today? #shorts · I Asked 5 Millionaires for Their Best Financial Advice · 7 Life Lessons School Didn’t Teach You

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