Alex Hormozi: How I picked my mentors...

Last updated: Jun 15, 2023

The video is about how to pick mentors and advisors based on two traits: integrity and efficacy, and how to test for these traits.

This video by Alex Hormozi was published on Aug 27, 2021.
Video length: 10:16.

In this video, Alex Hormozi discusses the importance of having trustworthy and skilled mentors, advisors, and professionals in your arsenal as you build your wealth.

He emphasizes the two key traits to look for in these individuals: integrity and efficacy. Hormozi shares his process for testing for integrity, including interviewing as many advisors as possible and aligning incentives. He also discusses the importance of finding someone who has both your best interests at heart and the ability to deliver on what you want.

The goal of his channel is to document his journey from $85 million to $1 billion in revenue and share the lessons he has learned along the way.

  • As you build your wealth, you need people to help you, including mentors and advisors.
  • The two traits to look for in mentors and advisors are integrity and efficacy.
  • Integrity is important to test for by interviewing advisors and aligning incentives.
  • Efficacy is important to consider by looking at the person's skill set and ability to deliver.
  • Choosing the right mentors and advisors is crucial to success and can have a big impact on net worth and financial future.
  • Trust is important when choosing mentors and advisors, prioritize people who truly love and support you.
  • Subscribe for more videos from Alex Hormozi.

How I picked my mentors... - YouTube

Alex Hormozi: How I picked my mentors... 001

Introduction

  • As you build your wealth, you will need people to help you.
  • These people include lawyers, accountants, investment professionals, and mentors.
  • Selecting the right people can make or break your life and business.
  • The two traits to look for in mentors and advisors are integrity and efficacy.
Alex Hormozi: How I picked my mentors... 002

Integrity

  • Integrity is the first character trait to look for in a mentor or advisor.
  • You need someone who you can trust and who has your best interests in mind.
  • To test for integrity, interview as many advisors as possible from reputable sources.
  • Try to have a line of incentives that are truly aligned with your goals.
  • Be aware that some incentive systems may appear aligned but are not in reality.
Alex Hormozi: How I picked my mentors... 003

Efficacy

  • Efficacy is the second character trait to look for in a mentor or advisor.
  • You need someone who has the ability to deliver on what you want.
  • Be aware that someone who is highly skilled may also know how to take advantage of you.
  • Look for someone who has both your best interests at heart and the ability to deliver.
  • Consider the skill set of the person you are seeking advice from.
Alex Hormozi: How I picked my mentors... 005

How I picked my mentors... - YouTube

Conclusion

  • Choosing the right mentors and advisors is crucial to your success.
  • Look for people with integrity and efficacy.
  • Test for these traits by interviewing as many advisors as possible and aligning incentives.
  • Remember that the right mentors and advisors can make a huge difference in your life and business.
Alex Hormozi: How I picked my mentors... 006

Integrity and Incentives

  • When looking for a mentor or advisor, it's important to consider if their incentives are aligned with yours.
  • Aligning incentives can be done by restructuring deals to benefit both parties.
  • Integrity is also important when choosing a mentor or advisor.
  • Consider if the person has your best interests at heart.
  • Make sure their actions align with their words.
Alex Hormozi: How I picked my mentors... 007

Testing for Skill Set

  • Reading books on the topic can help you gain knowledge and avoid feeling exposed in conversations.
  • Bringing someone you trust alongside you can help you make a more informed decision.
  • Talking to as many people as possible and repeating the same action can help you gather insights and determine who has the most expertise.
  • Qualitative research is important in making an informed decision.
  • People often take more time to plan a vacation than to decide where to invest their money.
Alex Hormozi: How I picked my mentors... 008

Choosing Trusted Advisors

  • When choosing a trusted advisor, consider both their integrity and skill set.
  • Make sure they have your best interests at heart and are knowledgeable in their field.
  • These decisions can have a big impact on your net worth and financial future.
  • Warren Buffett defines a successful life based on the number of people who truly love you when you die.
  • Consider if the people you do business with would hide you if their own lives were at risk.
Alex Hormozi: How I picked my mentors... 010

Final Thoughts

  • Trust is important when choosing mentors and advisors.
  • Choose someone whose intentions you trust, even if their efficacy is not perfect.
  • Consider the impact of your decisions on your financial future.
  • Remember to prioritize the people in your life who truly love and support you.
  • Click subscribe for more videos from Alex Hormozi.

Watch the video on YouTube:
How I picked my mentors... - YouTube

Related summaries of videos: