Alex Hormozi: Why I Turned down two people who offered me $50K

The video is about why Alex Hormozi turned down two people who offered him $50,000 for a single day of consulting and the importance of focusing on one thing to grow a successful business.

This video by Alex Hormozi was published on Nov 12, 2020.
Video length: 06:50.

In this video, Alex Hormozi shares a story about how he turned down two people who offered him $50,000 for a single day of consulting.

He explains that the reason for this is because he and his wife prioritize focusing on their own business and not diluting their attention by taking on outside consulting work. He emphasizes the importance of staying focused on one thing and doing it well, rather than constantly switching between different ventures.

He also stresses the value of attention as the most valuable asset an entrepreneur has.

• Alex Hormozi turned down two people who offered him $50,000 for a single day of consulting.
• Focusing on one thing is important for growing a successful business.
• Entrepreneurs who cannot focus on one thing struggle to succeed.
• Your attention is your most valuable asset and focusing on the fundamentals of your business is more important than taking on new opportunities.
• Focusing on one thing allows you to get really good at it and fulfill the promises you made to your initial customers.

Why I Turned down two people who offered me $50K (ALEX HORMOZI) - YouTube

Introduction

• Alex Hormozi shares a story about turning down two people who offered him $50,000 for a single day of consulting.
• He explains the importance of focusing on one thing to grow a successful business.

Why Turning Down Opportunities is Important

• The better you are, the better opportunities you have to say no to.
• Diluting your attention by investing in multiple businesses is fundamentally flawed.
• Turning down consulting clients who would require too much attention is important for the growth of your business.
• Entrepreneurs who cannot focus on one thing struggle to succeed.
• Successful businesses focus on doing the same thing over and over again.

The Importance of Attention

• Your attention is your most valuable asset.
• Even if you take on a consulting client, they will still try to take your attention away from your existing business.
• Focusing on the fundamentals of your business is more important than taking on new opportunities.
• Sometimes you have to do less to do more.
• Going slow can help you go fast in the long run.

Why I Turned down two people who offered me $50K (ALEX HORMOZI) - YouTube

The Benefits of Focusing on One Thing

• Focusing on one thing allows you to get really good at it.
• Successful businesses solve the same problem for the same customer avatar.
• Scaling a business is about doing more of the same thing, not constantly trying new things.
• Focusing on one thing allows you to fulfill the promises you made to your initial customers.
• Distractions always have strings attached to your attention.

The Importance of Focusing on One Thing to Grow a Successful Business

• Going slow to go fast is sometimes necessary in business.
• Focus on doing one thing extremely well to make the most money.
• Don't get distracted by shiny objects and say no to opportunities that don't align with your main goal.
• Self-sabotage often occurs when entrepreneurs take on too much and spread their attention too thin.
• Focus on one thing that makes you money and do it over and over again until you're sick of it.
• By doing one thing extremely well, you'll have better opportunities and make more money in the long run.

Watch the video on YouTube:
Why I Turned down two people who offered me $50K (ALEX HORMOZI) - YouTube