Millionaire Reveals “7 Things I Wish They Taught In School”

Summary

• Financial education is crucial, but I've realized I was lacking in other areas as well.
• Entrepreneurs often start businesses to fill an inner void, even though deep down they know it might not work.
• I've bucketed life disciplines into seven categories I believe are vital to learn.
• Foundational education, which includes reading, writing, and math, is mostly taught in school, but it's just the beginning.
• Understanding physical health, like what to eat and how to move, is necessary for longevity and energy; our wellbeing depends on it.
• Professional education is job-specific and often begins in earnest after formal schooling. It's important to know your career path skills.
• Emotional intelligence is about understanding your feelings and thoughts to continue growing personally and professionally.
• Relational skills are key for communication and influence, essential for building relationships, tribes, and businesses.
• Financial literacy starts with learning to spend less than you earn, then progresses to investing and making your money work for you.
• The real school for entrepreneurship is experience and actively engaging in business, not formal education.
• Philosophical education is about the values you live by and beliefs about life, which I consider the most important.
• It's okay to acknowledge weaknesses in these disciplines; they are opportunities for growth.
• Overall well-being is impacted by how these disciplines are balanced, and upgrades in philosophy have greatly improved my life.
• Aim to improve constantly, and know why you're doing it for genuine fulfillment.

Video

How To Take Action

I would suggest implementing foundational education by making sure you're good at reading, writing, and math. These are key and you can learn them from school easily. They let you learn everything else you need.

Next, focus on physical health. Learn what to eat and how to move. It's not tough. Simple steps like eating more veggies and walking more can add to your energy. If you feel good, you do good.

For your job, learn the skills you need for your specific field. You can find lots of free resources online. Watch videos, read articles, or find a mentor.

Emotional intelligence is huge. Understand your feelings and thoughts. It helps you grow. Reflect on your feelings, maybe write in a journal, or talk with friends to get better at this.

Relational skills are important for talking and connecting with others. Practice by being more open and listening. Building relationships is key for successful businesses and happy lives.

Financial literacy starts with spending less than you earn. Save money from your income. Later, learn about investing. There are lots of free resources out there to help with this.

Experience is your best teacher in business. Try things, make mistakes, and learn.

Philosophical education is about what you believe and your values. This is the hardest but the most important. Think about what matters to you and why you do what you do.

Remember, it's ok if you're not good at some of these yet. That's normal. Just learn a bit each day and you'll get better. Your life gets better when you balance all these areas. So, take small steps every day. Read a bit more, take care of your health, learn one new job skill, be kind to a friend, save a little money, and think about your values. This way, you improve little by little.

Quotes by Alex Hormozi

"Wealth is a ratio it is not a number"

– Alex Hormozi

"The first thing you have to do is start correcting your language so that you know it's like I have a I have a weakness here, I have a deficiency in terms of my learning"

– Alex Hormozi

"I'm not good at this yet and that's okay"

– Alex Hormozi

"Making strides in understanding why I do what I do and where I derive meaning in life has been one of the most fulfilling for me"

– Alex Hormozi

"The real school for entrepreneurship is just getting into the game and starting to play"

– Alex Hormozi

Full Transcript

what you don't know can kill you and ultimately will because at the end of the day all of us are going to die and after having built two multi-figure companies another eight-figure company another eight-figure company and then now we have a portfolio of companies that do just about a million a week i've i've learned some things about financial education and things like that and i realized i was wildly deficient in other areas and so in this search for meaning and figuring out you know what i want to do when i grow up i've kind of bucketed the different disciplines that i think all of us have to learn as entrepreneurs to fill the hole that we have in our souls and i think a lot of us you know we we pursue business because we feel like it is going to fill this hole even on some level we know it won't but we do it anyways because we just don't have another best bet and so after having enough money to question the the meaning of life i've kind of looked at it looked at these at these buckets as seven things and so that's what i'm going to talk about in this video and i think it's useful because a lot of times we just don't know what we lack and simply having an understanding of the breadth of topics and disciplines that we should have and understand will show us where our deficiencies are and i believe that you need all seven in order to feel more complete and as i've made more progress in these things i feel like i've been able to unearth my singular meaning it's not necessarily yours but for me it's to learn i love learning and so for me one of the best ways of learning is teaching and so i get questions all the time about why i make these videos like why like why would i care about doing this stuff for free i do it for me because i love learning and i learn best through teaching you know what i'm going through right now and so these are the seven different disciplines i think every human being has to learn all right so the first is um foundational education all right now the good thing is the system is pretty decent at decent at teaching this one all right so this is like reading writing and math like that's how i see it it's like if you can read write and mat and do math you'll learn that from school and specifically just like reading writing yeah reading writing and math are kind of what i would consider foundational principles because from there you can use reading and writing and math to learn the rest of the principles right and so this one's foundational and this is pretty much the only one that we get taught in school which is why everyone or at least for me i felt wildly deficient to deal with the real world because there's so many other things right which is crazy to me that like what we cover are not i think we should just get foundations if i were to redesign our education system i would just teach reading writing and math and then the rest of it would be around these disciplines all right so the next thing is physical all right and the thing is is if you're living in this world you live in the physical plane and so you have to understand what you need to eat and how do you need to move in order to you know increase your energy longevity etc and so all the things underneath this is bucket energy min uh sorry uh would be like sleep you know like your own sleep routines if you have them but not to be religious about them or superstitious about them because those end up becoming handicaps more than they actually end up helping you but how to actually train to look the way you want to look how to eat the way you want to look how to eat and train the way so you can know how you want to feel all of this stuff because you exist in this plane and we have these bodies for our whole lives and so it would behoove us to learn how to do these things because all the rest of these disciplines are no longer a priority if your physical health is um is is waning right it's like was it the there's there's a saying about the everybody can have every wish in the world except for when you're sick you only have one which is to not be sick right and so learning this is what i would consider the second level of education the third level of education that i've outlined for myself is professional right and this is one where depending on what your what your skill set is right or what sorry what what career path you want to go down some schools are you know if you want to be an accountant there's pretty decent there's a decent career path there for you to learn that skill now most accountants would say yeah when i had my you know once i graduated with my mac or my master's in accounting that's when really my real education began right and so many of these are like that especially from the formal education standpoint but hopefully as i'm going through these you can think to yourself like okay where am i lacking and as i get higher and higher up i will tell you i think the fulfillment and the and the meaning that you can derive from them these kind of work like a pyramid right like this is the base and then you you build up all right the next level of this uh what i i would consider is uh emotional all right and uh this one you have to continue to grow over time because this is just like understanding your own your own feelings and thoughts and as you you know grow as an entrepreneur you have to know these things because you'll you'll figure out where your deficiencies are all of us have them and if you can't think to yourself what your deficiencies are and name them and be okay with yourself while still having them i think that you get stuck there because you just don't know how to fix yourself right not that you need to be fixed but how to grow right and so this is the kind of the fourth the fourth level of education now note this one we don't get taught anything about at all anywhere right and you have to learn all this stuff on your own and most of us have no education on this so think about how much time you've devoted to like this one now because now we're really departing from formal education obviously there's not much formal education around physical recess doesn't really count right the next level that i have here is uh relational all right so this is how to communicate influence and deal with others and this is wildly important because first you have to master yourself right and then the next step there is being able to relate to others in a way that is that is meaningful and so by doing that you're able to influence others you're able to build groups build tribes build companies all of this is going to be predicated on your ability to deal with other humans again this isn't taught anywhere right that's why you know some some of the books that that were most most transformational transformational for me in my life were books that that talked about how to deal with other people how to communicate right how to how to have people like you right how to have people trust you and really the flip side of that is how to be likable and how to be trustworthy rather than some like hacks or tricks it's so much more about the character traits which is the ugly answer but it's also probably the truth so these are the these are the five levels and if you're looking at yourself right now hopefully you should be like well how much time am i spending learning uh this discipline for my own emotions how am i how much time am i spending learning this discipline in learning how to relate to others the next one that i that i have here is financial all right financial literacy and uh i would say this first in the beginning is personal finance which is basically learning how to spend less than you make and then ideally significantly less than you make if you listen to any of my stuff because wealth is a ratio it is not a number it is a it is a ratio between how much you earn versus how much you spend so if you want to increase your wealth you can decrease your expenses and in so doing become more wealthy think about that for a second and while you process that i will i will tell you the the second iteration of financial which is then how to multiply so in the beginning it's about the getting getting of the money and then the next level how to multiply the money that you have right and have the money work for you and that's that's um i would say currently this is where i'm focusing a lot of my time and attention because i want to learn that game that being said a lot of these things combined together right like if you want to have a business you need to know how to manage your own emotions you need to know how to relate to others you need to know how to manage finances you need to have some skills that you have professionally to provide value to the marketplace in and remember with like this professional school that i was saying earlier only if you have like a formal career path or you're going to learn this in the in the in the formal education system which is you know failing everybody even more every every day but most most professions right you learn you learn by doing you learn by getting into that industry right and so that's why there's no school for entrepreneurship not really you know there's entrepreneurship schools but like let's be honest like they're not legit the the the real school for entrepreneurship is just getting into the game and starting to play and so right now as we're thinking you're going through this right i've named six and i'll tell you the last one in a second um but think about where you rate on these like how much time am i spending learning about financial education how much time i spend can i read a balance sheet right um can i read a cash flow statement uh relational right like how much time am i spending learning how to relate to others do you say things like and this is important for everyone who has an identity which is everyone right do you face things like like i don't play well with others i don't even like saying that me personally as i'm telling you this i don't like saying that because i don't like speaking that over myself but i can tell you the more you can become aware of how people say i am i do i have right i must i should etc people tell you their own limiting beliefs and the things that you say and the things that you speak over yourself become your reality and like this is very true like i'm i don't want to say this like people will say i'm not good with money right i don't even like saying it right because you speak this belief into yourself and that becomes your reality and so the first thing you have to do is start correcting your language so that you know it's like i have a i have i have a weakness here i have a deficiency in terms of my learning right because then it becomes an opportunity that you can fix rather than i am this way it is certain i speak this way and therefore will never grow right and so as you're looking through these pillars of disciplines that that come inevitably on the on the entrepreneurial journey you have to you have to see what your deficiencies are and learn them right and that's and if you're like looking at this and it seems overwhelming well you have your whole life to learn them which is what i think is inspiring and i honestly think for me looking at these disciplines has given me a lot of meaning in my own life because i just see this as so much stuff that i want to do i want to learn all this stuff and then it makes it makes living more interesting for me and then finally the last one is philosophical all right and this is this is the values that you choose to live by these are the things that you believe to be true that are eternal and so for me this has been incredibly incredibly useful and i can tell you guys for anybody who's watching this like when you have enough money to spend millions of dollars a year every single year for the rest of your life just on the money that you have assuming it doesn't even grow like you ask different and weirder like life gets weird right you have weirder questions that you ask and then you realize there's really so hopefully i can jump to the end of that for for anybody who's curious you won't get more fulfillment from all of these things any one of these things but it's really feeling how you can balance all these things but i think that philosophical despite the fact that i said it's the seventh bucket i actually think that it's the most important bucket and all of the changes in my own subjective well-being and how much i enjoy living have come from fundamental shifts in my philosophy about what i what i believe it means to be human and the time that we spend here on earth and so anyways if you're looking at yourself and you're looking at your own deficits um a and that's okay is one of my favorite sayings that i tell myself my own self-talk right i'm not good at this and that's okay right i'm not good at this yet and that's okay i'm not good at the relational side with other people yet and that's okay right because i'm going to learn right i'm not as good at the finances as i would like to be yet and that's okay right and so it becomes it gets you out of this defeatist talk this absolutism of being deficient and making it something that's an opportunity for you to grow it and i know this sounds minor but i'm telling you when i look at the employees that i have i look at the people that are in our company i look at the businesses that we work with i can tell immediately by someone's language patterns how likely they are to grow right and so the first thing you can do is correct your own language patterns for each of these each of these buckets but getting back to philosophical right as the seventh bucket this bucket i believe is i mean it's the meaning of life right and what will happen is if you are doing all of these things you're doing your financial education you're making more money you're increasing your influence through your relational discipline your your s your sense of self and your emotional management your impulse control is improving right your your professional skills are enhancing your physical well-being your energy your sleep the habits that you have around that are things that are increasing your longevity increasing your energy increasing your sense of well-being from a physical standpoint and hopefully you have the foundational education of learning of reading and writing which if you don't you should do that first because it's the gateway to learning all these other things but the thing is is all of these other ones if you don't know why you're doing them i think that ultimately you don't feel better so you may improve all of these things but you don't feel better and i think that most of us just want to feel better and so for me making strides in understanding why i do what i do and where i derive meaning in life has been uh one of the most fulfilling for me and ultimately why i've been increasing my you know constant stuff on the channels and i'm writing books right now that i'll be releasing for free for everyone just to help other entrepreneurs um and people make positive contribution with the potential that they all that we all have inside of us and so anyways i i wish you an absolutely amazing day stay tuned for uh my next video um hope you love it and uh i'll see you in the next vid bye