You make a lot of money by taking a lot of risk with a little bit of money.
Summary
- It's important not to confuse how millionaires make their money with how they invest it.
- Starting with one thing and focusing intensely is key to initially making money.
- Going "all in" on one thing helps to grow wealth quickly.
- Once you've built up your wealth, spread out your investments to protect it.
- Making money involves taking significant risks with small amounts of money.
- Keeping money involves taking minimal risks with large amounts of money.
Video
How To Take Action
First things first, pay attention to where millionaires put their time and money to get started. Go all in on one thing. Pick something you're great at or a business that you have a passion for. Stay super focused on it. Don't get distracted by trying to do a lot of things at once. Remember, it's about keeping it simple and sticking with it until it really grows.
Now, I would suggest taking risks, but be smart about it. When you're just starting, take big risks with only a little bit of money. That's how you make money at first. Don't throw all your savings into something. Just use what you can handle in case it doesn't work out.
Once you start making money, it's time to change the game. Now, protect what you've made. Diversify and spread out your investments. But here’s the trick: take smaller risks now that you've got more to lose. Think stocks, real estate, or anything that tends to grow over time without big ups and downs.
So, zoom in on that one thing. Work hard on it. Take big chances with small cash. When it pays off, shield your cash with wiser, safer investments. It's all about balance. Grow wealth quickly, and then keep it safe. Do this, and you'll set yourself up for success.
Quotes
"You start with one thing you focus you go all in"
– Alex Hormozi
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"Once you've made the money take the money and you spread it out"
– Alex Hormozi
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"You make a lot of money by taking a lot of risk with a little bit of money"
– Alex Hormozi
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"You keep money by making a little bit of risk with a lot of money"
– Alex Hormozi
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"Billionaires fly private you should fly private too to become a billionaire"
– Alex Hormozi
