Lessons I learnt from Leila Hormozi

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.
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