Alex Hormozi: Why daily routines make you poor & fragile [trigger warning]

The video discusses how daily routines can make entrepreneurs poor and fragile, using examples of limiting character traits and the dangers of becoming too dependent on routines.

This video by Alex Hormozi was published on Nov 8, 2021.
Video length: 10:09.

In this video, Alex Hormozi discusses how daily routines can make entrepreneurs poor and fragile.

He explains that many people focus on adding potential to their business without addressing the constraint that is limiting their growth. Hormozi gives an example of a couple of young entrepreneurs who have limiting character traits that are holding them back.

He emphasizes the importance of changing the way we speak about ourselves and our traits, and how becoming too dependent on routines can make us weaker.

• Alex Hormozi discusses how daily routines can make entrepreneurs poor and fragile.
• There are three components to growing a business: skills, character traits, and beliefs.
• Entrepreneurs have character traits that can limit them, such as high anxiety and all-or-nothing thinking.
• Dependence on routines can make entrepreneurs non-resilient and weak.
• Cycling the things that you do can give you temporary benefits and prevent dependence on routines.
• Self-talk is important, and individuals should avoid negative beliefs and statements that do not serve them.
• Superstitions and crutches can weaken individuals, and success should be independent of circumstances.

Why daily routines make you poor & fragile [trigger warning] - YouTube

Introduction

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• He discusses how daily routines can make entrepreneurs poor and fragile.
• He uses examples of limiting character traits and the dangers of becoming too dependent on routines.

Theory of Constraints

• There are three components to growing a business: skills, character traits, and beliefs.
• Most people add potential to their business but do not grow their business because they are not focused on the constraint.
• A system will grow to its constraint and no further.
• People do all these other things which add potential, but not the weakest point, and so they actually never make more money and they stay because they have not attacked the constraint.
• The constraint is the weakest point in the chain.

Limiting Character Traits

• Entrepreneurs have character traits that can limit them.
• Two limiting character traits are high anxiety and all-or-nothing thinking.
• When entrepreneurs make these statements, they speak limiting statements over themselves.
• In order to grow, entrepreneurs must change the way they speak about themselves.
• Entrepreneurs must ask themselves if their traits serve them and if they will help them accomplish their goals.

Why daily routines make you poor & fragile [trigger warning] - YouTube

Dangers of Routines

• Crutches and superstitions are dangerous.
• If entrepreneurs become dependent on routines, they actually become weaker as a result of it.
• Entrepreneurs must be adaptable and not become too dependent on routines.
• Entrepreneurs must be willing to change their routines if they are not serving them.
• Entrepreneurs must focus on attacking the constraint and not become too dependent on routines.

The Dangers of Routines

• Dependence on routines can make entrepreneurs poor and fragile.
• Routines can become crutches and superstitions that weaken individuals.
• Statements like "I have to" or "I need to" are limiting beliefs that can be exploited by competitors.
• Humans hundreds of years ago did not have the same routines and still slept fine.
• Dependence on routines can make individuals non-resilient and weak.

The Benefits of Cycling

• Cycling the things that you do can give you temporary benefits.
• Constantly changing what you do means that you cannot have a routine.
• Dependence on routines means that the benefits of certain actions are lost over time.
• Cycling can give you the temporary flux or benefit that comes from doing something novel.
• Most people become dependent on routines instead of cycling.

The Importance of Self-Talk

• Statements like "I am" are deeply embedded beliefs about oneself.
• Describing oneself with negative traits does not serve the individual.
• If a belief does not serve you, stop saying it.
• Use statements like "I have a tendency" or "I struggle with" instead of "I am".
• Be cognizant of the things that you speak about yourself.

The Need to Avoid Superstitions and Crutches

• Superstitions and routines can weaken individuals.
• Statements like "I can't" or "I don't have" are threats or punishments that individuals speak over themselves.
• Individuals need to stop making crutches and superstitions that make them weaker.
• Entrepreneurs need to know exactly who they are and speak beliefs that serve them.
• Success should be independent of the circumstances that individuals create.

Watch the video on YouTube:
Why daily routines make you poor & fragile [trigger warning] - YouTube