How to Get Ahead of 99% of People

Summary

• I started my first business at 25, and since then, every business has crossed $10 million in sales, regardless of the industry.
• Ninety percent of businesses never hit $1 million a year in sales; only 0.4% do $10 million or more.
• Success leaves clues, and there are two categories to look at: the entrepreneur and the opportunity or vehicle they are pursuing.
• Leverage is key — it's about getting the most out of what you put in.
• Entrepreneurs need a combination of skills and the right beliefs; character traits are really just a collection of smaller skills that can be trained.
• Beliefs that don't limit potential are crucial; often, limiting beliefs come from our surroundings and the people we grew up with.
• Challenging unknown beliefs is extremely powerful. For example, a fitness app creator didn't market his product due to a belief he wasn't credible enough, which limited his success until his beliefs changed.
• The right opportunity vehicle is essential — not all business ventures offer the same potential for growth.
• Leverage is the difference between what you put in and what you get out. Increasing your skill in a particular area increases your leverage.
• There are four types of leverage: collaboration (others working for you), capital (investing money), code (software that can be used by many), and content (media consumed by a large audience).
• Transitioning through jobs and businesses always starts at zero with leverage — aim for vehicles with higher leverage for greater potential output over time.
• Live below your means and increase your leverage over time by acquiring more skills.
• The biggest mistake in business is playing a finite game instead of an infinite game; the goal is to keep playing, improving, and staying in the game.
• Sales is a foundational skill for any entrepreneur — without sales, you cannot generate revenue.
• To help move past the $1 million threshold, focus on sales skills as they enable you to generate income and grow your business.

Video

How To Take Action

I suggest focusing on sales skills first. Why? Because if you can't sell, you can't make money. Look at it like this: the number of sales times lifetime value equals income. But if you have zero sales, no matter how good your product is, it's still zero income. So, sales skills should be your starting point. Here's a step-by-step plan you can follow:

1. Challenge Your Beliefs:

   • Write down reasons you think you can't sell or grow your business.
   • For every reason, ask yourself, "Is this based on facts or just what I believe?"

2. Increase Your Skills:

   • Find sales training resources. There's a lot out there for free, including my sales training keynote.
   • Practice daily. Role-play with a friend or practice selling a product to them.

3. Live Below Your Means:

   • Cut back on unnecessary expenses so you can save money to invest back into your business or personal growth.

4. Leverage What You Have:

   • Use your current skills and knowledge to start building your business or side hustle.

5. Acquire New Skills:

   • Invest time learning new things that add to your skillset, not just in sales but in other areas of business too.

6. Implement What You Learn:

   • Take one key idea from any training and put it into action right away.
   • Measure the results and adjust based on what you discover.

Remember, you don't have to spend a lot of money to grow. It's about using what you have wisely and improving step by step. Sales is a great place to start because it's the key to bringing money in the door, and once you're good at that, a lot more opportunities will open up.

Quotes

"Success does leave clues"

– Alex Hormozi

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"We question all of our beliefs, except for those that we truly believe, and those we never think to question"

– Alex Hormozi

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"Skills and beliefs… if someone had no limits in terms of what they believed they could achieve, then the only thing that would limit them was their skills"

– Alex Hormozi

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"The point isn't to finish because even if you're trying to say 'Finish First', it's like by what metric, on what time period?… The point is to just play"

– Alex Hormozi

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"If you can't sell anything, you can't make money"

– Alex Hormozi