Alex Hormozi: Millionaire explains why time is NOT the most precious resource...

Last updated: Jun 15, 2023

In this video, Alex Hormozi explains why attention is the most valuable resource for entrepreneurs and how successful people manage it well.

This video by Alex Hormozi was published on Nov 17, 2021.
Video length: 17:43.

In this video, Alex Hormozi, an entrepreneur and CEO of Acquisition.com, shares a valuable lesson he learned about the most precious resource for entrepreneurs.

He argues that attention, not time, is the golden resource, and that successful entrepreneurs manage their attention extremely well. He explains that as entrepreneurs scale their businesses, they need to decrease all the other things in their lives that drain attention, and focus on what truly matters.

He also emphasizes the importance of changing one's character traits in order to progress as a business owner.

  • Attention is the most valuable resource for entrepreneurs.
  • Successful people manage their attention well.
  • Entrepreneurs leak attention by being everywhere but not paying attention to anything.
  • Entrepreneurs need to change their character traits to progress as business owners.
  • Successful people forcibly remove themselves from many different situations.
  • Attention is closely related to wisdom, which is the ability to see what others cannot.
  • Effective attention management can lead to increased profitability and business growth.
  • Attention is more valuable than time because it allows you to see better.
  • It takes discipline to ignore things that are not helping you grow.

Millionaire explains why time is NOT the most precious resource... - YouTube

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The Most Valuable Resource for Entrepreneurs

  • Alex Hormozi shares a video that explains the most valuable resource for entrepreneurs.
  • He argues that attention is the most valuable resource, not time.
  • He has observed that successful people manage their attention well.
  • Entrepreneurs leak attention by being everywhere but not paying attention to anything.
  • Entrepreneurs need to change their character traits to progress as business owners.
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The Importance of Managing Attention

  • Alex Hormozi mentors four or five people on the side and has observed that successful people manage their attention well.
  • He has a billionaire friend who manages his attention extremely well.
  • Successful people decrease all the other things in their life that drain attention.
  • Entrepreneurs need to decrease all the other things in their life that drain attention to be able to focus.
  • Successful people keep their space clean and quiet to maintain tranquility.
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The Difficulty of Focusing for Entrepreneurs

  • Entrepreneurs have character traits that make them go-getters, risk-averse, creators, innovators, and builders.
  • The thing that gets entrepreneurs from zero to one is not the thing that gets them from one to two.
  • Entrepreneurs need to change their character traits to progress as business owners.
  • The things that got entrepreneurs to where they are now are not the things they need to pass on to other people.
  • Entrepreneurs need attention and bandwidth to grow other people.
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Millionaire explains why time is NOT the most precious resource... - YouTube

The Importance of Removing Oneself from Situations

  • Successful people forcibly remove themselves from many different situations.
  • They have a low tolerance for things that demand their time and attention.
  • They understand that they have so many things demanding their time and attention that they can't do everything.
  • They remove themselves from situations to maintain their attention and focus.
  • Entrepreneurs need to forcibly remove themselves from situations to maintain their attention and focus.
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The Importance of Attention

  • Entrepreneurs often struggle to grow their businesses because they have too many things competing for their attention.
  • Having too many businesses or projects can lead to a lack of focus and decreased profitability.
  • In order to grow, entrepreneurs need to learn to do less and delegate more.
  • Successful entrepreneurs learn to say no to opportunities that don't align with their goals.
  • As entrepreneurs grow, their identity needs to be fluid and adaptable to the changing needs of their business.
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The Value of Paying Attention

  • Attention is a valuable resource that needs to be managed effectively.
  • Entrepreneurs can benefit from paying attention to where their attention is focused.
  • One way to improve attention management is to work with a coach or mentor who can help teach effective attention management strategies.
  • Identifying and resolving open loops or unresolved issues can help free up attention for more important tasks.
  • Quieting and collecting other little marbles of attention can help entrepreneurs focus on growing their business.
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The Relationship Between Attention and Wisdom

  • Attention is closely related to wisdom, which is the ability to see what others cannot.
  • Wisdom comes from being able to focus attention on important tasks and see things from a different perspective.
  • Entrepreneurs can develop wisdom by learning to manage their attention effectively.
  • Effective attention management can help entrepreneurs see opportunities and solutions that they might have missed otherwise.
  • Developing wisdom requires discipline and a willingness to do less in order to achieve more.
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The Benefits of Effective Attention Management

  • Effective attention management can lead to increased profitability and business growth.
  • Entrepreneurs who learn to manage their attention effectively can achieve more with less effort.
  • Effective attention management can help entrepreneurs see opportunities and solutions that they might have missed otherwise.
  • Developing wisdom requires discipline and a willingness to do less in order to achieve more.
  • Effective attention management can help entrepreneurs achieve their goals and become more successful.
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The Most Valuable Resource for Entrepreneurs

  • Attention is the most valuable resource for entrepreneurs.
  • Successful people manage their attention well.
  • Billionaires keep themselves completely isolated and have layers of protection.
  • Big problems seem small and small problems seem big when you have lots of capacity.
  • Having clarity allows you to put your attention in one direction.
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Why Attention is More Valuable than Time

  • Attention is more valuable than time because it allows you to see better.
  • People with more attention have more ability to see.
  • People with messy love lives and who go out every weekend and get trashed are less able to grow their business.
  • Every single billionaire and high-level entrepreneur is quiet and keeps themselves completely isolated.
  • Having a team of executive assistants helps protect your attention.
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How to Manage Your Attention

  • Look at your life, relationships, habits, and the things that are taking your attention.
  • Handle and complete the cycles of the things that are taking your attention.
  • Get the attention back so you can work on the one thing that you're trying to grow.
  • If you have side hustles and side businesses, get rid of them.
  • Define the number that you need to have in your business in order to have the lifestyle that you want to have.
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Why it's Hard to Manage Your Attention

  • It takes discipline to ignore things that are not helping you grow.
  • It's counterintuitive and counter your character to not be yourself in order to be the person that you want to be.
  • Most entrepreneurs aren't successful because it's hard to manage your attention.
  • People pay tons of money to be told to do one thing.
  • It takes time to face and confront the things that you have not resolved yet.
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The Value of Attention for Entrepreneurs

  • Focus on one thing, not multiple things at once, to be successful as an entrepreneur.
  • Having multiple businesses is a farce; it's better to be really good at one thing and make as much money as you want.
  • Limiting beliefs about needing multiple businesses to make more money are silly.
  • Successful people operate at a high level and handle themselves quietly and cleanly.
  • Consolidating businesses and getting attention back can lead to a significant increase in revenue.
  • Attention is the most valuable resource for entrepreneurs, not time.

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Millionaire explains why time is NOT the most precious resource... - YouTube

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