Alex Hormozi: I turn down $100,000 every single day...it hurts but it's worth it..

Last updated: Jun 15, 2023

The video is about the importance of focusing on the main game and not getting distracted by easy money or other business opportunities, and the need to develop the character trait of saying no in order to achieve long-term success.

This video by Alex Hormozi was published on Aug 16, 2021.
Video length: 11:12.

In this video, Alex Hormozi talks about the number one mistake he sees entrepreneurs make, which is getting distracted by easy money and not focusing on their main business.

He uses the principle of the "woman in the red dress" to explain how these distractions can lead to failure and how saying no is a crucial part of strategy.

He emphasizes the importance of simplicity and character traits in building a successful business and warns against the temptation of short-term wins that can distract from long-term success.

  • Entrepreneurs often get distracted by easy money or other business opportunities, but the main game is the 20% of products or services that generate 80% of revenue.
  • Learning to say no and not getting distracted by easy money is key to achieving long-term success.
  • Getting distracted by easy money can take entrepreneurs away from their long-term goals, and matching the market and repeating successful actions is key to achieving long-term success.
  • Compounding happens for you when you use time as an asset instead of a liability, and uncommon success requires character traits that are uncommon.
  • Transitioning from CEO to owner requires assembling a team that will pursue the opportunity on your behalf, and making your business simple and focusing on the main game leads to unreasonable success.
  • Charlie Munger and Warren Buffet spend their time making good decisions, and just because something is simple doesn't mean it's not the right call.
  • Making simple decisions and focusing on the main game requires going against our human nature, but it leads to long-term success.

I turn down $100,000 every single day...it hurts but it's worth it.. - YouTube

Alex Hormozi: I turn down $100,000 every single day...it hurts but it

The Main Game vs Easy Money

  • Entrepreneurs often make the mistake of getting distracted by easy money or other business opportunities.
  • The main game is the 20% of products or services that generate 80% of revenue.
  • The extra money sitting on the table is the money that distracts entrepreneurs from the main game.
  • The principle of the woman in the red dress is used to describe distractions and easy money that take entrepreneurs away from the main game.
  • Strategy is learning when to say no and not getting distracted by easy money.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

The Importance of Saying No

  • Entrepreneurs need to develop the character trait of saying no to achieve long-term success.
  • Choosing to distract oneself from the main game for an easy win is a common mistake.
  • Simple scales, fancy fails - simple businesses are often more successful than fancy ones.
  • Learning to say no is a character trait that needs to be developed.
  • Strategy is about learning to say no and focusing on the long-term goal.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

The Danger of Getting Distracted

  • Entrepreneurs often jump to another ladder when they hit a limitation on their beliefs, skills, or character traits.
  • Getting distracted by easy money or other business opportunities can take entrepreneurs away from their long-term goals.
  • Most of the time, entrepreneurs need to do less and focus on fewer things to achieve success.
  • The higher up in business you go, the sexier the temptation appears.
  • Matching the market and repeating successful actions is key to achieving long-term success.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

I turn down $100,000 every single day...it hurts but it's worth it.. - YouTube

The Seduction of Easy Money

  • Easy money can be a distraction from the main game and long-term success.
  • The woman in the red dress principle is used to describe easy money that is a distraction from the main game.
  • Choosing to focus on the main game and saying no to easy money is a character trait that needs to be developed.
  • Getting distracted by easy money can take entrepreneurs away from their long-term goals.
  • Matching the market and repeating successful actions is key to achieving long-term success.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

The Importance of Saying No

  • Compounding happens for you when you use time as an asset instead of a liability.
  • Uncommon success is not complex, but hard because it requires character traits that are uncommon.
  • Strategy is knowing what to say no to, not what to say yes to.
  • Knowing what you don't do gives you more strength in serving your avatar.
  • You have to turn down money and opportunities that distract you from your long-term strategy.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

Transitioning from CEO to Owner

  • If the business does not grow without you spending less than five hours a week on it for six straight months, you have not transitioned from CEO to owner.
  • Every business needs a CEO, but you need to let someone else have the intention of running the business to get your attention back.
  • Assemble a team that will pursue the opportunity on your behalf instead of starting a new business.
  • Acquire a business or a percentage of a business and help assist that team grow and pursue that opportunity.
  • Owners speak differently from CEOs.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

The Temptation of Quick Wins

  • All entrepreneurs have a woman in the red dress, a quick win that distracts them from their long-term strategy.
  • You have to say no until you get to the point where starting a new thing means assembling a team that will pursue the opportunity on your behalf.
  • Swallow your pride about being self-employed and transition to being an owner.
  • Make your business so simple that it would be unreasonable for you not to be successful.
  • It's hard because it forces us to go against our human nature.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

The Power of Simple Decisions

  • Charlie Munger and Warren Buffet spend their time making good decisions, which doesn't take that much time but requires good discipline and character traits.
  • Just because something is simple doesn't mean it's not the right call.
  • Simple scales, fancy fails.
  • Making your business simple and focusing on the main game leads to unreasonable success.
  • It's hard not because it's complicated, but because it requires going against our human nature.
Alex Hormozi: I turn down $100,000 every single day...it hurts but it

The Importance of Focusing on the Main Game

  • Business activities can be a way to fill personal deficiencies and avoid being alone with our thoughts.
  • Once a business is running smoothly, it's best to let it continue without interference.
  • Don't get distracted by easy money or other business opportunities.
  • Simple scales are better than fancy ones.
  • Don't feel too good to run your own business, and don't try to skip steps in the process.
  • Make simple decisions and think long-term with aggressive patience and a macro perspective.

Watch the video on YouTube:
I turn down $100,000 every single day...it hurts but it's worth it.. - YouTube

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