I’ve been getting so much value from Leila Hormozi’s Youtube channel.
Here are some of the lessons I’ve learnt
Growth
- Being around wealthy and successful people is key.
- The market is so important – she tells a story of going to a mastermind and sees someone who is making 400k a month, when she’s on 10k a month, she knows she is better in every area than that person. Only difference? The size of the market. Mass market Vs niche.
- Want to make more money? Check it often.
- Make more money by focusing on more money. Focus on big opportunities instead of problems and being a perfectionist. Money follows attention. Problems expand to fill the time you give to solve it.
- Business is a game – learn the rules of the game.
- Focus on the big areas.
- It’s all a mindset shift.
- What is money for? It shouldn’t just sit there, put it to work.
- Making money takes risks –
- Never make emotional decisions
- Simple scales, fancy fails. Simple solutions are the best.
- Money loves speed, wealth loves time. The difference between making money and keeping it. Offense and defence. They are opposites.
- Move quickly on ideas to accumulate wealth, be super fast. Most things we do are reversible decisions. Money loves speed.
- Slow down on decisions that are related to asset allocation.
Management
- Use mostly Positive reinforcement in management
- Critique – difference Critique – difference between actual Vs ideal – let them know the difference – what can we do to get to the ideal?
- More and faster is better than slow
- Focus on the future instead of what happened in the past – ask them what to tell in the future
- The mind goes in the direction of the dominant thought
- Tell them how to do it, not how not to do it
- What can we do better next time?
- Don’t tell people what not to do, give them an alternative instead.
