Alex Hormozi: What Millionaires Know That You Don't

The video discusses how successful entrepreneurs achieve their success through pattern recognition and knowing what the ideal scene looks like in their business.

This video by Alex Hormozi was published on Mar 18, 2022.
Video length: 08:26.

In this video, Alex Hormozi discusses the importance of pattern recognition in achieving success as an entrepreneur.

He uses the example of his struggle to find an ideal executive assistant to illustrate how recognizing patterns in people can lead to faster and more efficient growth in a business.

Hormozi emphasizes the importance of knowing what an ideal scene looks like in different roles within a company and hiring people who fit that ideal.

• Pattern recognition is the key to success.
• Knowing what the ideal scene looks like in your business is crucial.
• Having people with outside eyes who already know what the ideal scene looks like can help you skip steps and achieve success faster.
• Knowing what each role in your company looks like is crucial to filling gaps and achieving success.
• Pay down ignorance tax by knowing what the ideal scene looks like.

What Millionaires Know That You Don't - YouTube

Introduction

• Why do some entrepreneurs achieve success faster than others?
• What is the secret to achieving success in a shorter amount of time?
• Pattern recognition is the key to success.
• Knowing what the ideal scene looks like in your business is crucial.
• Structurally, most business strategies are not complicated.

Pattern Recognition

• Pattern recognition is not just about recognizing strategies, but also patterns in people.
• Knowing what the ideal scene looks like in your business is crucial to success.
• Having people with outside eyes who already know what the ideal scene looks like can help you skip steps and achieve success faster.
• Pay down ignorance tax by knowing what the ideal scene looks like.
• There are gaps in your company as you grow, and you need to know what each role looks like to fill those gaps.

The Importance of an Executive Assistant

• It took Alex Hormozi a decade to find the right executive assistant.
• He didn't know what the ideal scene looked like for an executive assistant.
• Once he found the right assistant, he was able to work more efficiently and effectively.
• Knowing what the ideal scene looks like for each role in your company is crucial to success.
• Having the right people in the right roles can help you achieve success faster.

What Millionaires Know That You Don't - YouTube

Conclusion

• Pattern recognition is the key to success.
• Knowing what the ideal scene looks like in your business is crucial.
• Having people with outside eyes who already know what the ideal scene looks like can help you skip steps and achieve success faster.
• Knowing what each role in your company looks like is crucial to filling gaps and achieving success.
• Pay down ignorance tax by knowing what the ideal scene looks like.

Importance of Knowing What the Ideal Scene Looks Like

• Successful entrepreneurs achieve their success through pattern recognition and knowing what the ideal scene looks like in their business.
• Once you have figured out what a good sales director, salesman, or marketing director looks like, you can find and duplicate that pattern again.
• Knowing what the ideal scene looks like in your business helps you find the right people for the right roles.
• Portfolio companies that work with e-learning and coaching type businesses and service-based businesses often make the mistake of hiring people who are not the right fit for the role.
• Speed comes from picking the right people and knowing what right looks like.

Decreasing Tolerance for Non-Excellence

• Speed comes from finding people who already know what the role looks like when it is excellent.
• Decreasing your tolerance for people who are not that good and a misunderstanding of what the roles look like that you need to hire is important.
• Don't take advice from people who are one step ahead of you because they might not know.
• Find somebody who's built multiple of the types of departments you're looking for scaled it for a long period of time and then that person will be able to share what the requisites are for the roles that you're looking for.
• It's easy to know when someone is not a stud, but it's harder to know if someone comes in and starts as a stud and then goes down.
• Your tolerance or my tolerance for non-excellence continues to decrease in time so that you can not waste the time of trying to figure out whether this person is going to help you grow the business.

Watch the video on YouTube:
What Millionaires Know That You Don't - YouTube