How to Get Ahead of 99% of People | Spotify Video Exclusive
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What skills and beliefs are essential for successful entrepreneurship?
One in every 250 businesses does over $10 million a year in sales, and that means that 99% of entrepreneurs never hit it. Every business that I've started since I was 25 has crossed $10 million.
How can transforming beliefs unlock entrepreneurial potential?
B2B services with Gym Launch, B2C consumer products with Prestige Labs, our supplement company, Allen, our B2B software, and Acquisition.com, which is an investment firm for all of the money that we made during those businesses to invest in other ones. I feel really confident that I can talk to the points of helping you go from zero to a million, a million to 10 million, and beyond. And so this is just a visual. Put this in context. 90% of businesses never hit a million dollars a year in sales. 90% doesn't look that way on Instagram, but this is the this is the vast majority of businesses right now. 9% of businesses across this million dollar threshold. Right.
What are the four types of leverage for entrepreneurs?
And then only 0.4%, which is one in 250. do 10 million plus. It's so rare.
How does collaboration enhance entrepreneurial success?
And so the nice thing is that success does leave clues. I want to kind of separate this into two major categories. One is the entrepreneur and the other is the opportunity vehicle they're pursuing. You'll notice I said leverage rather than opportunity vehicle, but fundamentally leverage is the difference between what you put in and what you get out. And so you want to have the best entrepreneur getting the most out of what they put in. And so if you have those two things together, then you create a $10 million plus business. And if you've I've consumed any of my other content. I used to talk about how entrepreneurs, there's three main things. You've got skills, you've got character traits, you've got beliefs.
I've thought about this more and I've actually simplified it to one degree, which is I think you just have skills, and beliefs.
What is the importance of choosing the right vehicle for growth?
Character traits, if you think about this, you're like, I want to become patient. Patient is just a general term for lots of little skills. And so if you want to become more patient, you want to do things that patient people do.
How can investing in yourself lead to greater returns?
And that means that if I can train someone to become more patient, then patience is a skill.
What is the cost of ignorance in entrepreneurship?
And so as a total side quest on this, what's interesting about this is that you've probably heard people say soft skills and hard skills. In my opinion, hard skills are just skills that are easy to measure. Soft skills are just hard to measure, but they're both 100% skills that you can train and improve. And so if we say, man, I wish that guy had better people skills, what we mean is 100 micro skills that are like, I wish he would smile when someone walked in the room. Can I train someone to do that? Absolutely. If I said, hey, I wish he would greet someone by their first name immediately every time they walk in the door, right? Boom, that's trainable. I wish someone wouldn't interrupt it's like okay well we can just give someone a cookie every time they don't interrupt someone and let someone finish their statement and then we train them and so all of these soft skills are just soft because they're hard to measure doesn't mean that they're not skills or they're not important and oftentimes most of us know that like within an organization like the way that you gain influence is these soft skills that are hard to measure but incredibly important so
If we're talking about how do we make the highest leverage entrepreneur, we want somebody who has lots and lots of skills and really it's about beliefs that don't limit them. If someone had no limits in terms of what they believe they could achieve, then the only thing that would limit them was their skills.
How does one transition from learning to earning in business?
But most of the times, the beliefs that we have are things that just decrease our potential. And it's not really our fault because most of the people that were around us when we grew up, just by statistics, were poorer than you might want to be. And so they told you how they see the world. If there's ever something that's gonna be on my tombstone, it's this quote, which is, We question all of our beliefs except for those that we truly believe and those we never think to question.
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Chapters
8 chapters
1
What skills and beliefs are essential for successful entrepreneurship?
0:00–0:09
2
How can transforming beliefs unlock entrepreneurial potential?
0:09–0:48
3
What are the four types of leverage for entrepreneurs?
0:48–0:57
4
How does collaboration enhance entrepreneurial success?
0:57–1:36
5
What is the importance of choosing the right vehicle for growth?
1:36–1:47
6
How can investing in yourself lead to greater returns?
1:47–1:53
7
What is the cost of ignorance in entrepreneurship?
1:53–3:05
8
How does one transition from learning to earning in business?
3:05–56:25
Speakers
1 identifiedMore from The Game with Alex Hormozi
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