How To Level Up In Business – Understanding Tradeoffs

Summary

• Sometimes we choose socially acceptable paths to avoid confronting the real challenges of life or business. Ensure your decisions align with your true goals, not just what's considered safe.
• Ask yourself what you want to achieve from any major decision, like college or career paths, and evaluate whether the steps you're taking will genuinely lead to that outcome.
• Facing the fear of failure is crucial. Understanding that failing at a task does not make you a failure as a person is key to moving forward in entrepreneurship.
• Real-life business school involves doing actual business. If you're an entrepreneur at heart, investing time and money into your business can be more beneficial than spending it on traditional education.
• Sacrifice is often required for greatness. Be prepared to give up short-term pleasures for long-term achievements. I was willing to sacrifice anything, including my social life and hobbies, to succeed in business.
• Having a balanced life is often contrary to achieving exceptional results. Great achievements usually require extreme effort and sacrifice, at least for a season.
• Reflect on the sacrifices you're willing to make for your aspirations, and understand that some periods in life will be unbalanced in pursuit of a goal.
• Clarity comes from understanding the emotional drivers behind your decisions. When you recognize them, you can navigate choices more effectively, aiming for what you truly desire rather than avoiding fears.
• Your past decisions and the stories you tell yourself shape your identity. Be mindful of the narrative you're reinforcing with your choices.
• When assessing decisions, consider the opportunity cost and potential returns. For instance, comparing the investment of $200,000 in college versus the same amount in starting a business can help clarify which path aligns with your goals.
• Share your thought process and decision strategies with those around you who might be facing similar choices, to help them navigate their own paths.

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How To Take Action

I would suggest taking a hard look at the paths you are considering, whether it's college, a job, or starting a business. Ask yourself, "Will this really get me where I want to go?" Weigh the costs, like money and time, and the outcomes you hope to get. If you dream of running a business, then putting what you would spend on college into your business might be the smarter move.

To face fears of failure, remember that failing at something doesn't make you a failure. It's about learning and improving. Be ready to make sacrifices, even if it means having less fun or putting aside other interests for a while. This doesn't mean you give up everything forever, but being willing to work hard for something important usually pays off.

Write down the sacrifices you feel you need to make. For example, if you like watching sports or TV, consider limiting it so you can focus more on your business. Talk about these plans with friends or family who might understand or be making similar choices. They could offer new perspectives or support.

Always remind yourself why you're making these choices. It's not just about avoiding fear or doing what people expect. It's about building the life you want. Understand what drives your decisions. This way, your choices become clearer and you keep moving towards your goals.

Remember, exceptional results often come from exceptional effort. So think about what you're ready to do, what you're ready to give up, and what story you want to tell about yourself. Then go for it, and keep learning and growing along the way.

Quotes

"I will not outwork everyone, but instead I will out sacrifice anyone"

– Alex Hormozi

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"The stories that we tell ourselves create the identity that we have"

– Alex Hormozi

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"If you fail, it does not make you a failure, it means that you failed"

– Alex Hormozi

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"I don't believe that anything great was ever accomplished by someone who is balanced"

– Alex Hormozi

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"It takes extreme effort, it takes unreasonable sacrifice to achieve things that are unreasonable"

– Alex Hormozi