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August 26, 2024 • 3hr 4min
#830 - Alex Hormozi - 24 Controversial Truths About Success & Failure
Modern Wisdom
In this episode of Modern Wisdom, host Chris Williamson interviews Alex Hormozi, a successful entrepreneur, investor and author. They discuss a wide range of topics related to personal development, psychology, business, and life philosophy.
Alex shares insights from his own experiences building multiple successful businesses and his observations on human behavior and success. The conversation covers how to overcome procrastination, build motivation, develop authenticity, set effective goals, and cultivate a mindset for long-term success.
#830 - Alex Hormozi - 24 Controversial Truths About Success & Failure
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Key Takeaways
- Taking action is critical - People often delay doing things they don't like for longer than it takes to actually do them. The key is to start pulling the thread and taking action, even if you don't have all the answers.
- Focus on inputs over outcomes - Optimizing for outcomes naturally optimizes inputs. But focusing solely on inputs can lead to busy work without real progress.
- Hard work is the goal - Rather than working hard for some external outcome, make hard work itself the goal. This provides more consistent motivation and satisfaction.
- Authenticity comes from alignment - True authenticity is alignment between what you think, say, and do. The hardest part is realizing our thoughts are often flawed and need to be fixed.
- Motivation comes from deprivation - We are most motivated when deprived of something. Understanding what you lack can predict behavior better than trying to artificially create motivation.
- Break big goals into small skills - Large, nebulous goals like "be more confident" are overwhelming. Break them down into specific, actionable micro-skills to make progress.
- Periodize work and rest - Rather than trying to balance work and life daily, think in longer cycles of intense work followed by rest periods.
- Things aren't inherently good or bad - Most events are neutral - we apply judgments of good or bad. Accepting things as they are reduces suffering.
- Actions define us, not our past - Our past doesn't determine who we are. We define ourselves through our present actions and choices.
Introduction
In this episode of Modern Wisdom, host Chris Williamson interviews Alex Hormozi, a successful entrepreneur, investor and author. They discuss a wide range of topics related to personal development, psychology, business, and life philosophy.
Alex shares insights from his own experiences building multiple successful businesses and his observations on human behavior and success. The conversation covers how to overcome procrastination, build motivation, develop authenticity, set effective goals, and cultivate a mindset for long-term success.
Topics Discussed
Taking Action and Overcoming Procrastination (02:00)
Alex emphasizes the importance of taking action rather than delaying tasks:
- People often put off tasks they don't want to do for longer than it would take to actually complete them
- The key is to start "pulling the thread" - taking the first small action to get momentum
- Once you start, tasks often take less time than expected
- Shrinking the gap between deciding to do something and actually doing it is a sign of personal power
"I've tried to eliminate as much time between 'I think I should do this thing' and beginning doing it," Alex explains. This positive reinforcement cycle makes it easier to start future tasks.
Focusing on Inputs vs Outcomes (05:40)
The discussion turns to the difference between focusing on inputs (actions) versus outcomes:
- Optimizing for outcomes naturally optimizes inputs
- Focusing solely on inputs can lead to busy work without real progress
- Alex advocates for the "Rule of 100" - focusing on 100 primary actions per day that drive results
- The key is identifying inputs that most closely correlate with desired outputs
Alex notes: "If you define work by output, it's volume times leverage. So how many times you do the thing times how much you get for each time you do it."
Reframing Challenges as Opportunities (15:12)
Alex discusses the importance of reframing challenges positively:
- Successful people see opportunity in failure; normal people see failure in every opportunity
- Pain and difficulty are prerequisites for growth - embrace them
- Ask "What would make this amazing?" when facing setbacks
- Champions interpret anxiety as excitement - reframe nervous energy positively
"If pain is a prerequisite for reality, then it means it's just a signal that we are alive," Alex explains.
Hard Work as the Goal (30:42)
Alex shares his philosophy on making hard work itself the goal:
- Rather than working hard for some external outcome, make hard work the goal
- This provides more consistent motivation and satisfaction
- Focus on emptying your tank each day through intense effort
- The only person who can judge your success is you - you know how much effort you truly gave
"The best days of my life were ones when I had nothing left in the tank," Alex reflects.
Developing Authenticity (36:47)
The conversation turns to authenticity and alignment:
- True authenticity is alignment between what you think, say, and do
- The hardest part is realizing our thoughts are often flawed and need to be fixed
- Being honest, even when uncomfortable, builds trust
- Ask yourself "Why do I believe what I believe?" to identify inherited vs. personal beliefs
Alex notes: "If you have a belief and you can't explain why you believe it, it's not yours, it's someone else's."
Understanding Motivation (1:31:02)
Alex shares his perspective on the nature of motivation:
- Motivation is the equal opposite of deprivation
- We are most motivated when deprived of something
- For intangible goals, perceived deprivation drives motivation
- Understanding what someone lacks can predict behavior better than trying to artificially motivate them
"If all of my friends are billionaires and I'm worth $100 million, then I have a $900 million deficit that I have to come up with. I'm more motivated to make money than someone who just wants to go from $5,000 a month to $10,000 a month," Alex explains.
Breaking Down Big Goals (1:25:34)
The discussion covers how to approach large, nebulous goals:
- Break big goals like "be more confident" into specific, actionable micro-skills
- Identify 10-15 specific behaviors that embody the larger trait
- Focus on mastering those individual skills
- This makes progress more tangible and achievable
Alex advocates "demystifying much more precise behaviors" rather than focusing on vague character traits.
Periodizing Work and Rest (2:11:32)
Alex discusses balancing intense work with rest:
- Rather than daily work-life balance, think in longer cycles
- Have periods of intense work followed by rest periods
- This allows for deeper focus and recovery
- Example: Work intensely for 3 years, then take a more relaxed year
"You can have work-life balance where I work for three years and then I have a more chill year," Alex suggests.
Accepting Things As They Are (2:48:29)
The conversation turns to accepting reality without judgment:
- Most events are neutral - we apply judgments of good or bad
- Accepting things as they are reduces suffering
- We can't know if something is truly good or bad until the end of our lives
- Focus on responding effectively rather than judging situations
Alex reflects: "At the end of the day, all of the things that occur simply occur."
Actions Define Us, Not Our Past (2:55:19)
The final topic covers how we define ourselves:
- Our past doesn't determine who we are
- We define ourselves through our present actions and choices
- Victims see their past as fate; champions see it as an origin story
- Focus on what you can control now, not what happened before
"The only thing that we absolutely have control over is the actions that we take right now," Alex emphasizes.
Conclusion
This wide-ranging conversation between Chris and Alex covers numerous valuable insights on personal development, psychology, and success. Key themes include the importance of taking action, focusing on inputs that drive results, reframing challenges positively, making hard work the goal, developing true authenticity, understanding the nature of motivation, breaking down big goals, balancing intense work with rest, accepting reality without judgment, and defining ourselves through our actions rather than our past.
Alex's perspectives offer a blend of practical strategies and philosophical frameworks for approaching life's challenges and pursuing long-term success. His emphasis on personal responsibility, continuous learning, and embracing difficulty as a path to growth provides listeners with actionable wisdom they can apply to their own lives and pursuits.