The Trait of the Best Entrepreneurs
Summary
- The best founders are excellent at allocating resources efficiently.
- Initially, you must acquire a variety of skills, but as you grow into an executive leadership role, your perspective broadens.
- With a team, you are limited to focusing on one or two major projects at a time.
- It's essential to select the projects that will most significantly propel you toward your long-term goals, considering the next 12 months, 5 years, and 10 years.
- Making one large, strategic bet is crucial for forward momentum.
Video
How To Take Action
I would suggest starting with the most important skill of all – learning to use what you've got wisely. You don't need a lot of money or time to get better at this. Just start with what you can handle. Think about what you're good at and focus there first. As you grow, remember: You can only do a couple of big things at a time.
Here’s what you can do right away:
Choose Your Big Bet: Look at your goals. What's one big thing you can do now that will help a lot with your 12-month goal? Pick that and go all-in on it.
Learn the Skills You Need: Make a list of skills you need to win your big bet. You might not need to be an expert. Just learn enough to move forward.
Lead with Focus: If you're starting to grow a team, keep your eyes on the big picture. Which projects will get you closer to where you want to be in 5 or 10 years? Select those and delegate the rest.
Use What You Have: Don't worry about what you don't have. Use your own skills, your team, and your time the best way you can. Efficiency is key.
Limit Your Projects: You can't do everything. Pick one or two big things that'll make the most difference and give them all you've got.
Do these things, and you'll be on track to reach your goals with the resources you have now. This way, you’re making smart choices without spending too much money or time.
Quotes by Alex Hormozi
"the best Founders the ones that move the fastest are actually efficient allocators of resources"
– Alex Hormozi
"in the beginning you have to learn all these micro skills"
– Alex Hormozi
"once you get your first real level of leadership in, I'm talking executive leadership, then you're zooming out"
– Alex Hormozi
"we have all of these people we can only really pick one or two big things"
– Alex Hormozi
"which of these things will get us the closest to our ultimate goal over the next 12 months 5 years 10 years"
– Alex Hormozi
Full Transcript
the best Founders the ones that move the fastest are actually efficient allocators of resources and so in the beginning you have to learn all these micro skills but once you get your first real level of leadership in I'm talking executive leadership then you're zooming out and saying okay we have all of these people we can only really pick one or two big things which of these things will get us the closest to our ultimate goal over the next 12 months 5 years 10 years and then you take that one big bet
