Always Know Who Youre Doing Business With

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Always Know Who You’re Doing Business With

Summary

Video

How To Take Action

I would suggest implementing a solid background check process for your business. It's easy. If you're considering working with someone, do some digging first. Check out their history. It might seem like a hassle, but trust me, it saves headaches later. Look for any signs of legal troubles. If you spot something fishy, it's okay to walk away. There are plenty of other people out there to partner with.

Another thing you can do is make decisions like Warren Buffett and Charlie Munger. Keep it simple. When you've got two choices, and one is less risky, go for that one. Don't overcomplicate things.

Remember, choosing not to work with someone because they've got a shady past is not mean. It's just smart. It's about protecting your business, and there's nothing wrong with that. So, if you have the option of 'that' or 'not that' like I do, choose 'not that.'

Finally, make sure this is a regular part of how you operate. It's not a one-time thing. It should be like a habit. Every time a new opportunity comes up, do the check. It's just part of doing good business. And it doesn't need to cost a lot. There are affordable third-party firms that can help you out.

By following these steps, you'll be on the right track. Keep your business safe and yourself stress-free.

Quotes by Alex Hormozi

"I'm sure they had a story they didn't technically get in trouble I just like if I have the option of that or just not that I'll just not do that"

– Alex Hormozi

"It's like I'm sure they had a story they didn't technically get in trouble"

– Alex Hormozi

"That's called singing to the feds"

– Alex Hormozi

"When we found that out it's like"

– Alex Hormozi

"If I have the option of that or just not that I'll just not do that"

– Alex Hormozi

Full Transcript

we have a full third- party firm that does full background checks on anyone we even do business with like just a vendor we had a business that we were looking at investing in there were three partners and two of them are now in jail and the other one isn't the other one that isn't was trying to do business with us and I was like huh how do two people go to jail and one not that's called singing to the feds the point was when we found that out it's like I'm sure they had a story they didn't technically get in trouble I just like if I have the option of that or just not that I'll just not do that sounds quote ruthless but when I think about like Charlie Munger and Warren Buffett and the decisions they make they're like yeah just don't do that one like just pick any of the other people that are out there and don't worry that person will screw someone else just doesn't have to be you it'll just be old Alex

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