A BILLIONAIRE taught me how to think like a BILLIONAIRE..
Summary
- When I started as an entrepreneur, I would read a book on delegation and immediately implement it, only to later realize things weren't being done correctly.
- I found myself swinging from extreme delegation to micromanaging, which stifled my team's initiative and turned me into a bottleneck for the business.
- I learned to recognize that instead of problems to be solved, some situations are dichotomies to be managed, like balancing management and delegation.
- By asking the question, "What problem are we solving?" I pause and clarify issues, which helps prioritize actions.
- I've realized that not all problems are catastrophic; some are incremental improvements over time, especially for newer businesses.
- I understand the challenge of creating a tax code that pleases everyone due to the competing ideals of fairness and equality, which is another example of a dichotomy that must be managed.
- I use the concept of continuums versus binaries to make more precise decisions; for example, thinking in terms of how far I strayed from a diet rather than a binary on/off.
- Binary thinking can lead to inaccurate decisions; reality is more complex and nuanced.
- By recognizing patterns, you can identify whether an issue is a dichotomy or a continuum, which then makes it more approachable and solvable.
- Understanding these frameworks has improved my decision-making and problem-solving in business and personal life.
- Accurate thinking and precise questioning lead to meaningful answers, avoiding "stupid games" and undesired outcomes.
- My aim is to share effective mental models that refine thinking and language to achieve desired results and address greater life questions.
- With Acquisition.com, we generate $85 million a year, and I strive to continue sharing valuable insights with the community.
Video
How To Take Action
I would suggest starting by understanding the importance of balance. For example, instead of choosing between delegation or micromanagement, find a middle way. Ask yourself how much control is needed without stopping your team from being creative. Here's what to do:
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When you face a problem, first ask, "What problem are we solving?" This question helps focus on what's essential.
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Realize not every issue is a big crisis. Some things get better little by little, especially in new businesses. Work on improving over time instead of stopping everything to fix a problem right away.
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Think about how to manage dilemmas instead of trying to solve unfixable problems. Like with taxes—everyone can't be happy, but we can manage the arguments about fairness and equality.
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Avoid thinking in just yes or no. Life isn't just on or off, like a diet. Think more about how far you are from where you want to be. For example, if you ate a little too much, don't give up—just eat a little less the next day.
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Use patterns to recognize if you're facing a problem or just a situation to manage. If something seems unsolvable, maybe it's something to manage, not a problem with a clear solution.
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Be precise in your thinking and questions. Avoid playing "stupid games." Instead, aim for clear answers that help you get what you want.
By following these steps, you can make better choices for your business and life. Remember, it's about balance and seeing things as they really are, not just how we want them to be. This way of thinking has helped me a lot, and it can help you too.
Quotes
"What problem are we solving"
– Alex Hormozi
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"It is not whether you are a diabetic, it's how diabetic are you"
– Alex Hormozi
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"We like to label things as yes or no, but biology and reality exists on continuums"
– Alex Hormozi
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"If you ask stupid questions, you get stupid answers"
– Alex Hormozi
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"It's not a problem to be solved, it's a dichotomy to be managed"
– Alex Hormozi
