Alex Hormozi: 1 SKILL That Is HARD To Learn, BUT Will Pay Off FOREVER

The video is about the importance of understanding the depth of skills and value required to be successful in a particular industry, and the recommendation to learn from successful individuals in that industry in order to improve and achieve success.

This video by Alex Hormozi was published on Apr 27, 2021.
Video length: 13:51.

In this video, Alex Hormozi talks about the importance of developing skills to be successful in business.

He uses the example of a struggling real estate agency owner and explains that the reason they are not making money is because they are not good enough yet, but that's okay because they are still new to the business. He emphasizes the importance of understanding the depth of skills required to be successful and suggests that the owner should learn from the top-performing client to improve their own skills and knowledge.

He concludes by saying that planting deep roots and developing skills is the key to success in any business.

• Alex Hormozi talks about the importance of understanding the depth of skills and value required to be successful in an industry.
• The reason for not making money is that one is not good enough and needs to understand the depth of skills and value required to be successful in an industry.
• One needs to learn from successful individuals in the industry to improve and achieve success.
• Planting the roots deep by learning everything about the industry and successful individuals in it will give one the level of certainty needed to succeed.
• Learning from others' successes and failures can fast track your own success, and repetition is necessary to learn the nuances of a skill.
• Conviction comes from having success stories and knowing that your stuff works, and there is no shortcut to success.
• Success is earned through doing and mastering a skill, which can then be transferred to new opportunities.

1 SKILL That Is HARD To Learn, BUT Will Pay Off FOREVER - YouTube

Introduction

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• The video is about the importance of understanding the depth of skills and value required to be successful in a particular industry.
• Learning from successful individuals in that industry can help improve and achieve success.

Reasons for Not Making Money

• The reason for not making money is that one is not good enough.
• It is not reasonable to expect top one percent income with only a year of experience in an industry.
• One needs to understand the depth of skills and value required to be successful in an industry.
• One needs to ask if the vehicle they are in is viable by looking at other successful people in the industry.
• It is possible to be successful if others in the industry are succeeding.

Understanding the Depth of Skills and Value

• One needs to understand the depth of skills and value required to be successful in an industry.
• Expertise comes from having more volume and experience in an industry.
• For example, Eskimos have more delineation for different types of snow because they see it every day.
• One needs to learn from successful individuals in the industry to improve and achieve success.
• One needs to soak up everything from successful individuals, including their processes and techniques.

1 SKILL That Is HARD To Learn, BUT Will Pay Off FOREVER - YouTube

Planting the Roots Deep

• One needs to plant the roots deep to achieve success.
• One needs to learn everything about the industry and the successful individuals in it.
• One needs to have the certainty and conviction that they can succeed in the industry.
• One needs to be willing to do the work and learn from successful individuals to achieve success.
• Planting the roots deep will give one the level of certainty needed to succeed in the industry.

The Importance of Learning from Others

• Learning from others' successes and failures can fast track your own success.
• It's important to understand the depth of skills and value required to be successful in a particular industry.
• Successful entrepreneurs have a period of time where they repeat the same thing over and over again until they have mastery.
• Once they have mastery, they transfer that skill to a new opportunity and blow up overnight.
• Learning from others' mistakes is wise, and it's the stupidest thing to make every single mistake yourself.

The Value of Conviction

• Having conviction requires either being a sociopath and lying or having done it yourself.
• Conviction comes from having success stories and knowing that your stuff works.
• Learning from your own mistakes is important, but wise people also learn from other people's mistakes and successes.
• It's important to learn from someone who has already learned what you want to learn to fast track your success.
• Every successful entrepreneur has a rocky cut scene where they repeat the same thing over and over again until they have mastery.

The Importance of Repetition

• Repetition is necessary to learn the nuances of a skill.
• There is no shortcut to success, and the skill is the foundation of the pyramid.
• Putting time under the bar is necessary to build a strong foundation.
• Successful entrepreneurs have spent years learning how to sell and have done thousands of sales consultations.
• The difference between someone who just talks about sales and someone who provides excessive value is the nuance that comes from repetition.

Earning Success

• You are not owed success; you earn it through doing.
• Successful entrepreneurs have a period of time where they repeat the same thing over and over again until they have mastery.
• Once they have mastery, they transfer that skill to a new opportunity and blow up overnight.
• Learning from others' successes and failures can fast track your own success.
• There is no shortcut to success, and the skill is the foundation of the pyramid.

The Importance of Putting in Time and Learning from Successful Individuals

• The foundation of skills and experiences is crucial for success in any industry.
• Success requires putting in the time, getting the reps, and doing the volume.
• Observing and replicating successful individuals' methods is key to improving.
• Once you can do something as well as them or better, then you can iterate on their system.
• Working for free or doing anything to be around successful individuals can provide valuable learning opportunities.

The Rocky Cut-Scene Period and Building a Strong Foundation

• Success doesn't happen overnight; there is always a rocky cut-scene period.
• Putting in the time and effort during this period is crucial for building a strong foundation of skills and experiences.
• Learning from other people's mistakes can save time and effort.
• Building a strong foundation allows for greater success in the long run.
• Marketplace can differentiate between those with trench knowledge and those who are pretending.

Watch the video on YouTube:
1 SKILL That Is HARD To Learn, BUT Will Pay Off FOREVER - YouTube