This ONE Thing Will Make You A Better Entrepreneur
Summary
- Success depends on the entrepreneur's skills, character traits, and beliefs.
- Entrepreneurs' beliefs about what is true (and isn't) heavily influence their potential for success.
- Confronting and overcoming incorrect beliefs can lead to transformative growth for a business.
- Learning comes from doing and repetition; education is key to developing skills.
- The most valuable sources of education have been Google and one-on-one mentorship.
- Mentorship provides insights into skill gaps and incorrect beliefs, offering significant leverage in life.
- Investing in masterminds and communities is useful for motivation, information filtering, and challenging limiting beliefs.
- Paid information saves time sorting through free content, offering a quicker path to knowledge.
- Starting with free resources and progressively investing more in education as you grow can be effective.
- One-on-one mentorship is effective for strategic problems, while coaching programs help with specific methods.
- Immersing oneself in communities can help break false beliefs by witnessing others' successes.
- Contributing value and becoming indispensable in networks can lead to reciprocated goodwill and support.
- Character traits are foundational; they support skill acquisition and belief refinement.
- Consistent actions reflect character traits, regardless of internal feelings.
- Character trait development is about performing actions that align with the desired trait, despite discomfort.
- Enduring discomfort and sticking to strategies are signs of patience and a strong character.
- Entrepreneurs should aim to improve their character, which, in turn, bolsters their skills and rectifies faulty beliefs.
- Commitment to character traits leads to self-identification with those traits and unlocks further personal growth potential.
Video
How To Take Action
I would suggest focusing on improving character traits, because they're at the heart of what we do. Being patient, focused, and disciplined are keys to success. Here's a simple plan to start growing:
- Identify character traits you want to improve, like patience or discipline.
- Act as someone with that trait would, even if it's uncomfortable.
- Confront beliefs that limit you by joining communities and seeing others succeed.
- Take advantage of Google and free online resources to learn new skills fast.
- Offer value to others in your network; for instance, share your expertise in exchange for learning from them.
- When ready, invest in coaching or masterminds to accelerate learning.
- Find a mentor who can offer strategic advice and challenge your beliefs.
- Repeat actions that align with the character traits you want to build.
Remember that your actions, not your feelings, show who you are. So keep doing the right things even when it's tough. Little by little, you'll become the person with the traits you admire. And along the way, keep learning, because knowledge kicks down doors. Start with something as simple as setting up a widget or learning from a quick Google search. As you grow, so can your investment – from free resources to paid courses that save time.
Small steps daily make big progress over time. Stick to your strategies and let your actions speak for your character. This plan doesn't cost much money or time but can create huge changes in your business and personal growth.
Quotes
"Skills on one side, beliefs on the other side, and then you’ve got character traits in the middle"
– Alex Hormozi
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"If you can confront sucking faster and just get over that idea that sucking is a bad thing, then I think you compress the time between you and the skills you want"
– Alex Hormozi
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"When you pay someone for information, you're paying for the time it took them to sort through it"
– Alex Hormozi
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"The best way to break a belief is to see someone doing what you thought was not possible"
– Alex Hormozi
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"The character traits are the wellspring that the other things are founded upon"
– Alex Hormozi
