Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too)

Last updated: Jun 18, 2023

The video discusses the three paths that entrepreneurs can take to do what they love and become wealthy, including the path of the pure artist, the path of the pure entrepreneur, and the hybrid path.

This video by Alex Hormozi was published on May 31, 2023.
Video length: 08:13.

In this video, Alex Hormozi discusses the three paths that entrepreneurs can take to do what they love and become wealthy.

These paths include the path of the pure artist, the path of the pure entrepreneur, and the hybrid path. Hormozi explains that there is no right path and that it's more about finding the path that works best for you during the season you're in.

He also discusses the importance of finding the right people to fit inside your business to build the business around you.

  • Alex Hormozi loved fitness macro counting and different ways to exercise.
  • There are three paths that every entrepreneur eventually has to take: the path of the pure artist, the path of the pure entrepreneur, and the hybrid path.
  • The path of the pure artist involves doing something you enjoy doing and doing it well, ultimately going from a commoditized price point to a luxury price point.
  • The path of the hybrid involves finding someone else to build the business around you while you stay focused on the main thing you love the most.
  • The path of the pure entrepreneur involves building businesses, with the types of businesses getting bigger, more complex, or simpler.

3 Ways to Do What You Love (and get wealthy too) - YouTube

Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too) 001

Introduction

  • Alex Hormozi loved fitness macro counting and different ways to exercise.
  • There are three paths that every entrepreneur eventually has to take.
  • The three paths are the path of the pure artist, the path of the pure entrepreneur, and the hybrid path.
Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too) 002

The Path of the Pure Artist

  • The person who loves doing the thing.
  • Their art form might be plumbing, carpentry, coding, software making, media, and making wallets.
  • They do something they enjoy doing and do it well.
  • They continue to do the thing at extraordinarily high levels.
  • They ultimately go from a commoditized price point to a luxury price point.
Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too) 003

The Path of the Hybrid

  • The person who loves building Shopify pages and loves the coding and the product.
  • They found somebody else and have them build the business around them while they stayed focused on the main thing that they loved the most.
  • Each of these paths can go all the way to the max limit.
  • It requires skill because you need to have the perspective from which to make a judgment on who is good enough to be able to lead your company.
  • You can leverage their experience to find the right people to fit inside of your business to build the business around you.
Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too) 004

3 Ways to Do What You Love (and get wealthy too) - YouTube

The Path of the Pure Entrepreneur

  • The person whose art form is the businesses.
  • They will have multiple paintings in their career as they develop as an artist.
  • The types of businesses they build get bigger, more complex, more or need or simpler.
  • The amount of businesses that Alex Hormozi started includes a non-profit online training business, a for-profit training business, a brick and mortar gym, a chain of gyms, a gym turnaround business, a car tractor.
  • They love business, and it doesn't really matter what business they're in.
Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too) 005

Conclusion

  • There is no right path; it's more about the path that works best for you during the season you're in.
  • You can also change paths later.
  • The key is to find what you love and do it well.
  • It's about finding the right people to fit inside of your business to build the business around you.
  • The highest level of advice is someone who has been there done that themselves and taken other people just like you to where you're trying to go multiple times.
Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too) 006

Three Paths for Entrepreneurs

  • Entrepreneurs' art will change and evolve as they develop.
  • There are three paths for entrepreneurs: the path of the pure artist, the path of the pure entrepreneur, and the hybrid path.
  • If you love the actual doing of the business, start with the path of the artist.
  • If you love entrepreneurship in general and just want to make money, you are more the entrepreneur path.
  • The hybrid path is usually someone who starts as an artist and then becomes an entrepreneur.
  • You can own a component of the business and have someone build it around you.
Alex Hormozi: 3 Ways to Do What You Love (and get wealthy too) 008

Product, Marketing, and Sales

  • The most valuable skill for entrepreneurs is product first, then marketing, then sales.
  • If you know how to sell, it's because you don't know how to market.
  • If you know how to market, you can sell lots of stuff, but you're only going to sell it once because the product is usually not that good.
  • If you know how to sell product, you'll get more promotion from your customers than anything else, and that is ultimately what scales the enterprise.
  • The key to building a very big thing that lasts for a long time is to have an exceptional product.
  • The highest leverage thing you can do is make an exceptional product that other people want to promote for you.

Watch the video on YouTube:
3 Ways to Do What You Love (and get wealthy too) - YouTube

Related summaries of videos: