Don’t Start a Business Until You Watch This…

Summary

• In 2020, I experienced a significant shift in perspective, reducing my anxiety and increasing my understanding of why many people fail.
• Early success in my career, jumping to millions in profit, created an unhealthy benchmark and a toxic viewpoint.
• Emulating investors and billionaires, I've now embraced a longer time horizon for success, which has lessened the pressure of immediate results.
• Instead of rapid gains, I focus on actions that ensure inevitable success when repeated over time.
• By extending my time horizon, time has transformed from a liability into an asset, leveraging the power of compounding in my favor.
• I've shifted from skepticism of SEO and inbound marketing to recognizing the value of building consistent inbound interest over years.
• Diversifying strategies with a long-term focus, like building reliable and sustainable channels, is part of my plan for future growth.
• Shifting from a CEO to an investor mindset helps in focusing on enduring success rather than immediate comparison with competitors.
• I recommend investing in projects that might not deliver immediate returns but are likely to yield disproportionate benefits in five years.
• Discipline in consistent action is crucial. For example, I postponed evaluating the ROI of a new initiative until next year to improve execution quality.
• A recent insight is focusing on metrics—like increasing qualified applications—that are likelier to drive sales growth over time than merely fixating on short-term sales numbers.
• I target measurable, predictive metrics, such as the number of sales-accepted leads, to guide my growth strategy.
• Small, consistent activities, like enhancing outbound efforts or creating more content, contribute to gradually escalating inbound applications.
• Now I prioritize reliable inflows, such as initiatives expected to generate a steady number of new clients monthly, embracing the time it takes to see results.
• My reduced stress levels are linked to my detachment from short-term business fluctuations and lesser impact on my ego.
• The COVID-19 pandemic halved our profits, but I remain undisturbed, viewing it as a temporary setback, with confidence in future recovery and growth.
• Seeing time as an ally, an inevitable force, aligns me with natural processes that facilitate growth, even without direct intervention.

Video

How To Take Action

I would suggest starting with shifting your perspective on time. Instead of seeing time as a threat, view it as an ally. This means extending your vision from quick wins to long-term growth. Focus on setting goals for five years instead of just tomorrow, this week, or this month.

An important step is to choose actions that, when done consistently over time, lead to inevitable success. This could be developing your skills, creating valuable content, or building out reliable marketing channels.

Embrace the investor mindset. Invest in projects that may not have immediate returns but promise significant benefits down the line. This patience will pay off with compounded growth. Don't get caught up in the day-to-day fluctuations of your business or comparisons with others.

Identify key metrics that are predictive of sales growth. For example, increasing the number of qualified applications is a strong indicator of future sales. Choose one metric and work on improving it with small, consistent efforts.

Let go of the pressure to see immediate results from new initiatives. Give your plans time to mature and evaluate them on their long-term contributions, not just the initial output.

Lastly, allow yourself to detach from short-term business performance. Trust in your strategy and believe in the recovery and growth of your investment over time. This will lead to reduced stress levels and a healthier relationship with your business.

Remember, embracing the power of compounding and giving your strategies time to come to fruition is key to lasting success.

Quotes

"I've tried to shift my perspective to wanting to do tasks and actions on a repeated basis that I know that if I repeat them over a long enough time horizon will lead me to inevitably accomplishing my goal"

– Alex Hormozi

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"Seeing time as an asset is working for me and how things compound over time now works to assist me rather than hinder me"

– Alex Hormozi

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"If I can extend my time horizon, then time stops being a liability and a threat and becomes an asset"

– Alex Hormozi

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"Building a machine that consistently month over month creates more and more inbound interest is just wildly compelling to me"

– Alex Hormozi

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"Using that discipline to invest in things that are going to create disproportionate returns is a good use of time"

– Alex Hormozi