I made $30,000,000 by changing this belief…

Summary

• If you're feeling stuck in your business, it's typically due to an incorrect belief, a lacking character trait, or a deficiency in skills.
• Many entrepreneurs limit their growth because they don't know people in their space who have achieved more, but this belief can lead to self-imposed limitations.
• It's important to challenge the belief that your business can't grow beyond what's been previously done in your industry.
• Evaluate whether your market has real constraints. If your audience is large enough, there might not be a cap to your growth potential.
• You can potentially surpass the collective revenue of your competitors by being better at acquiring and fulfilling customer needs.
• Believing in your product or service is paramount since a lack of genuine conviction can prevent you from pushing the business beyond your personal financial needs.
• Growth can be capped not by market limitations but by personal limitations in character traits or skills.
• Acquiring skills is essential, either by learning how to do necessary tasks yourself or identifying who can fulfill those needs for the business.
• Before looking to delegate the running of your business, assess if you truly believe in your product and if there is any real market cap that justifies such a decision.
• When stuck, determine if you've truly reached the full potential of your marketplace or if you simply need to develop more in beliefs, traits, or skills to break through the cap.

Video

How To Take Action

I would suggest starting by examining your beliefs about your business. Many times, we feel stuck because we think we can’t grow beyond a certain point. But ask yourself, is there really a cap on your growth or is it just a belief? If your audience is large enough, your potential is likely untapped.

Next, focus on strengthening your character traits. Are you persistent, patient, and genuine in your belief in your product or service? This is critical because if you truly believe in what you’re offering, you’ll push beyond just meeting your personal financial needs.

Now, identify skill gaps. What do you need to learn to take your business to the next level? You can either learn these skills yourself or find someone who can. Remember, it’s about understanding what needs to be done first then finding the ‘who’ if you can’t be the ‘how’.

Here's a simple breakdown to implement these insights:

1. Challenge Your Beliefs:

   • Write down your limiting belief about growth.
   • Research industry trends to see if your market really is capped.
   • Change your mindset to believe growth beyond current limits is possible.

2. Develop Your Traits:

   • Reflect on whether your character aligns with your business goals.
   • Practice patience and persistence daily.

3. Acquire Skills:

   • List the skills you need to grow your business.
   • Decide if you will learn these skills or delegate.
   • If delegating, start searching for the right person to fill this gap.

And if you find yourself thinking, “Is my market really capped or do I just need to become better than my competitors?” Figure out what they are doing and aim to surpass it. If each competitor can get a slice of the market, why can't one business take a bigger piece by being the best?

Remember, often our ceilings are self-imposed. Tackle your beliefs, traits, and skills head-on, and you’ll likely discover that the only real cap on your business is the one you set yourself.

Quotes

"Just because no one has done it doesn't mean it's not possible"

– Alex Hormozi

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"The only reason to make more money past that if you're a self-aware individual is because you actually believe the thing that you have is going to help more people"

– Alex Hormozi

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"If you believe in the thing then you want to be the one who's driving it"

– Alex Hormozi

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"You haven't capped your market you just have capped your skill or your beliefs or your traits"

– Alex Hormozi

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"If you knew how to do each one of those things and you did it better than them then there's no reason that you couldn't beat them"

– Alex Hormozi