The Biggest MYTH You Probably Still Believe

Summary

• Many entrepreneurs wrongly believe their business isn't scalable or should be changed to something more scalable. This mindset needs to die because all businesses have inherent challenges when scaling.

• Service businesses are easy to start and profitable but face challenges when scaling due to human resource constraints. E-commerce and software businesses also have their unique scaling issues, involving supply chains and initial costs, respectively.

• A dangerous mindset is thinking that new business models will eliminate problems. In reality, switching between business types typically doesn't solve scaling issues since most businesses involve human constraints.

• Every business has demand and supply constraints. The solution usually involves promotion, whether it’s to attract customers or team members.

• Difficulty in scaling is a feature, not a bug. The challenge is in accepting the inherent problems and patiently solving them over extended periods, sometimes quarters or even years.

• Entrepreneurs often make the mistake of changing their business structure or model during the waiting period for a solution to take effect, which can break what was working well before.

• The urge to delegate problems or make rapid changes can be a trap. Successful execution of a business idea is an ongoing process, fraught with daily challenges that require persistence and patience.

• Entrepreneurship requires enduring problems that naturally occur in scaling businesses. Solutions take time, and the pain of waiting for them to work is a part of the process.

• The belief that one's business isn't scalable is often an issue with an unrealistic expectation of speed. Shifting timelines rather than changing business models can lead to more sustainable growth.

• Understanding that problems in business are constant helps entrepreneurs avoid unnecessary changes that can disrupt successful systems.

• Most business challenges stem from the difference between expected outcomes and the time taken to achieve them. Accepting the time it takes to solve problems is fundamental for long-term success.

• The key is to stick to a plan long enough to see results. Constantly searching for new opportunities or solutions can prevent any plan from fully materializing.

• Finally, learning to say no to every new idea and sticking to one path is crucial. Developing this skill helps overcome fear of missing out and keeps you focused on long-term goals.

Video

How To Take Action

I would suggest accepting that every type of business has its unique challenges and complexities when scaling. It's important to change the mindset that shifts too quickly due to perceived issues rather than real obstacles. Every business has both demand and supply constraints, and recognizing which you're facing helps solve these issues more effectively.

A good way of handling scaling challenges is through promotion. Whether it is attracting more customers or finding the right team members, increasing visibility and outreach is crucial. Remember, the real effort lies in sticking to a plan long enough to see the results, without switching paths frequently.

I recommend focusing on improving execution rather than jumping to new ideas. Often, believing that changing business models will eliminate problems is a trap. Consistent execution and persistence over months or even years is key.

Accept the time it takes for a solution to work. Instead of repeatedly altering your business structure during waiting periods, give your existing strategies time to take effect. Use the waiting periods to improve internal processes and refine existing customer experience.

Finally, resist the urge to constantly change or delegate away a problem prematurely. Understand problems are a feature of business, not a bug. The patience to endure these long-term challenges will ultimately be what allows your business to grow sustainably. Shifting expectations about how quickly your goals should be achieved can alleviate unnecessary stress and result in lasting success. Focus on learning to say no to distractions and stay committed to your goals.

Quotes

"Difficulty is a feature not a bug of scaling a business"

– Alex Hormozi

"You can have the business you want just not by the time that you want it"

– Alex Hormozi

"The hard part about the plan isn't thinking about the plan or doing the plan, it's sticking with the plan"

– Alex Hormozi

"Your timelines are the biggest issue in the business"

– Alex Hormozi

"You just take reality, you move the line of expectations, and then you say there's a problem"

– Alex Hormozi