I'm Facing A Billion Dollar Decision | Spotify Video Exclusive
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What challenges do entrepreneurs face when making big decisions?
And so right now I have two billion dollar paths.
How can changing your environment help with decision-making?
What's the worst case scenario if you do it?
Anything that damages your reputation is irreversible. You only get one reputation and you literally can't bankrupt yourself out.
What lessons did Alex learn from speaking at a personal trainer conference?
Fuck it. of those decisions in entrepreneurship is deciding which path to follow, especially when you have two or multiple good paths. I'm at a point in my career where I do have a very large decision that I need to commit to for multiple years. And I've been spending basically every waking hour trying to gather more data to make the right decision. One of my favorite things to do when I do have big decisions is to change my environment. And I think it happens multiple times.
What strategies can enhance personal growth and success?
My favorite place to think is actually on planes. I often have very few distractions when I'm on planes and I quite literally get perspective. Like I'm flying up and I'm looking down at the earth.
How does watching Netflix impact productivity and decision-making?
I feel like I always make really good decisions when I'm in the air. And it's actually something that I really look forward to. You know what else I've been waiting for since I've been married? Going to Chili's.
We've gone to Chili's. I had like a seizure. Honestly, I would go because I don't mind.
What criteria should you use to evaluate business opportunities?
I don't care about the style of the restaurant, but I do not like their food.
I think they have amazing chips, great salsa, and the fajitas are strong.
I hate that you go hard on this in front of people because then behind the closed doors, you're like, yeah, it's not that good.
If there's any time, like in the fine establishments that I go to that we've gone to now like five times, like we'll go, and she'll be like, it sucks, right? It sucks. Say it. Say it. It's not as good as the finest dining in the world. Just say it. And I'll be like, yes, it's not as good.
Why is commitment essential when facing significant business choices?
She's like, see? See? And then that's it for the rest of my life.
You're chilly as shit and you get like a stomachache from it.
Who are you talking about here?
What are the risks of making half-hearted decisions in entrepreneurship?
Who are we talking about? I think you're telling me your story. so we just landed in san diego and we are going to real's event which is a big publicly traded brokerage for real estate agent our really close friend sharan sravatsa is the president of the company and he invited us out we're probably gonna have dinner with him we're gonna speak there tomorrow i will be making a presentation to help real estate agents sell more houses but it will not be about real estate it'll uh either suck or be great or somewhere between Layla's like, I'm just, how do I, how do I stop doing all these routines? I'm like, I can't even start. I like tried to smoke cigarettes to get addicted to them. And I was like, I just, it was too hard.
It was just too hard to stick with it. It's like every morning, it's like, what did I forget?
The hardest part about growth is that the better you get, the bigger you get, the bigger the opportunities are and the better they are. I think the easiest litmus test is to determine how big of an opportunity is worth your attention. So right now, 10x is kind of my litmus test. It's like, we're at 100. It's got to be a billion or more for it to be something that I want to dedicate time to. And so right now, I have what I would consider to be $2 billion paths. They're very different. relatively irreversible. One has potentially more upside, but more risk. The other one is more certain, but has lower upside. There's lots of things that can make a decision irreversible. If it's a certain percentage of your net worth or capital, I don't like making those kinds of bets.
This is a quote from Sharan Sarvata, a buddy of mine. He said, never want to bet the empire for a pot of gold. You bet what you have and need for something you don't have and don't need. It's never a good bet. Anything that damages your reputation is irreversible. You only get one reputation and you literally can't bankrupt yourself out of a bad reputation. You can't take reputational risk where there's only downside. You know, if I were to say, like, I want to support this cause, I might piss off some people, but it'll move me towards a different group of people.
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Chapters
8 chapters
1
What challenges do entrepreneurs face when making big decisions?
0:00–0:02
2
How can changing your environment help with decision-making?
0:02–0:09
3
What lessons did Alex learn from speaking at a personal trainer conference?
0:09–0:35
4
What strategies can enhance personal growth and success?
0:35–0:44
5
How does watching Netflix impact productivity and decision-making?
0:44–0:58
6
What criteria should you use to evaluate business opportunities?
0:58–1:21
7
Why is commitment essential when facing significant business choices?
1:21–1:30
8
What are the risks of making half-hearted decisions in entrepreneurship?
1:30–16:22