Why entrepreneurs stay broke and sad [trigger warning]

Summary

• I created a video from a private community on the mindset shift that contributes significantly to success, titled "Eye of the Tiger and Sustained Victory."
• I believe that hunger and drive are what set apart successful entrepreneurs from those who struggle.
• I've observed that once business owners "make it," their hunger often diminishes, leading to complacency and a halt in business growth.
• To illustrate a lack of hunger, I shared a story about gym owners who had limited new client availability to one hour a day and how this mindset hampers growth.
• Success and continued growth require consistent effort and a willingness to do what is uncomfortable or inconvenient—like being available beyond the hours that are easy for you.
• You need to ask yourself if you're genuinely motivated to achieve more because if you were, you would make necessary sacrifices and changes.
• If you find yourself failing to take actions you know you should, focus on understanding the barriers preventing you from doing so.
• The top performers are those who have a clear focus, exclude distractions, and take direct action towards their goals.
• Your success depends on the depth of your motivation, often driven by insecurities or a fear of failure.
• If your goal is to make just enough to live on, you'll likely only ever make that amount and stop pushing once you reach it.
• You should analyze why you're not hungry for more and figure out why you're not taking the steps you already know are necessary.
• Tactics and strategies are not enough if the drive to execute them is lacking.
• Even knowing how to run a successful business, if you don't execute due to fear of discomfort or effort, you won't achieve your potential.
• Motivation that comes from within, from a desire to be the best or to prove others wrong, is more powerful than motivation driven by momentary success or financial relief.
• You must focus on the process and constant improvement, not just the outputs like revenue numbers.
• To achieve greatness, you must want more than just to satisfy personal or immediate needs; you must aim to have an impact that's larger than yourself.

Video

How To Take Action

I would suggest starting by taking a hard look at your level of hunger and drive. If you want more growth and success, be honest about your motivation. To light that fire, think about what you're willing to sacrifice. Ask yourself, "Would I work harder and smarter if everything important to me depended on it?"

Here's how to keep that hunger alive and kicking:

1. Extend Your Availability: If your current working hours are limited, like the gym owner's story, it's time to expand. Make yourself available at times when your clients are most likely to need you—even if it's not the most convenient for you.

2. Focus on Actions Over Outcomes: Instead of obsessing over the money you make, zero in on daily actions that lead to success. Are you doing the little things consistently? How can you improve your service every day?

3. Understand Your Barriers: Think about what stops you from doing what you know you should. Work on breaking down these barriers, whether they're mental blocks, a fear of effort, or comfort zones.

4. Find Your Deep Motivation: Successful people often have a powerful internal drive. Is it fear of failure, a need to prove others wrong, or a personal insecurity? Use that to push yourself further.

5. Set Ambitious Goals: Aim for more than just making ends meet. Create goals that push you beyond your comfort zone. Whether it's impacting your community or making a difference on a larger scale, think big.

6. Prioritize Your Time: Direct your time and energy toward actions that significantly impact your goals. Cut out distractions and anything that doesn't contribute to your success.

7. Never Settle: Once you start making enough to be comfortable, don't coast. Constantly ask yourself, "What more can I do?" Keep that hunger alive.

Remember, strategies mean nothing without the will to execute them. Work on building this relentless drive, and you will not only reach your goals but surpass them.

Quotes

"If you're only trying to make enough to live on, you will always only make enough to live on"

– Alex Hormozi

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"The real question is: Do you actually want what you claim to want? Because if you did, you’d already have it"

– Alex Hormozi

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"If your child was going to die or your spouse or your sister… unless you succeeded, how would you approach it?"

– Alex Hormozi

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"You already know what to do. It's just you have to figure out why you're not doing it"

– Alex Hormozi

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"No amount of money in the world will satisfy you, and that is what's going to unlock your ability to become greater"

– Alex Hormozi