The Wealthiest 1% Get There By Doing THIS
Summary
- The wealthiest individuals often amass their fortunes during specific, limited periods when unique opportunities arise.
- These special moments provide abnormally high returns on investment and are generally not long-lasting.
- Kevin Harrington capitalized on an arbitrage opportunity by broadcasting infomercials for free for eight hours a day over three years, making the bulk of his wealth with negligible customer acquisition costs.
- Mark Cuban and Kevin O'Leary also made the majority of their money from single, significant deals.
- As entrepreneurs, it's key to develop a broad set of skills to be prepared to fully leverage these rare arbitrage opportunities when they present themselves.
Video
How To Take Action
I would suggest keeping a close eye out for special chances to make a lot of money fast. This is about finding times when you can do something really valuable without spending much. For example, I would look for ways to get my products or services out there for free, just like Kevin Harrington did with his infomercials.
Now, to be ready for these rare chances, I'd say brush up on a lot of different skills. Be a jack-of-all-trades. This way, when a big opportunity comes, you can jump right in and use all your skills to take full advantage of it.
Here's what you should do step-by-step:
- Learn from the best: Look at how big players like Mark Cuban and Kevin O'Leary did it. They focused on making the most out of one big deal.
- Stay on the lookout: Always keep an eye open for low-cost but high-value chances. These don't last long, so you need to move fast when you find one.
- Level up your skills: Get better at a lot of things. This means you can handle any challenge when a big chance comes.
- Be bold when the time is right: When that unique opportunity shows up, go all in. Don't be afraid to put everything on the line if it feels like a once-in-a-lifetime chance.
Remember, the key is to act fast and with confidence when these moments come. So, stay prepared, stay sharp, and when you see your opening, take it with everything you've got!
Quotes by Alex Hormozi
"The wealthiest people in the world made their money in punctuated periods of time"
– Alex Hormozi
"There are these gaps of arbitrage that get exposed"
– Alex Hormozi
"No opportunities forever"
– Alex Hormozi
"Disproportionate return on investment"
– Alex Hormozi
"When that door opens we can go all in and put everything on black"
– Alex Hormozi
Full Transcript
so if you look at the the wealthiest people in the world most of them made their money in punctuated periods of time and so there are these these gaps of arbitrage that get exposed for that i mean that thing like no opportunities forever right you get these periods of time where there's disproportionate return on investment right kevin harrington made all of his money because a certain period of time he was able to get infomercial time eight hours a day for free for three years they just had no one they had no programming so he literally ran infomercials for eight hours a day on national television for free and just killed it he had no cost of acquisition he literally sold for eight hours a day on national television and the majority of his money was made from that and then the rest of his life has been like trying to find little pockets right mark cuban made most of his thing on one sale kevin o'leary yeah most of it on one deal right and so there are these arbitrage opportunities that open up and they close and what we have to do as entrepreneurs is look at the skills that we need to have so we have a full stack of skills so that when that door opens we can go all in and put everything on black you