Chapter
False Perspectives on Earning and Investing
16:59 - 24:42 (07:42)
The belief that investing in increasing your earning capacity is the best investment is wrong. The goal to make a billion dollars is achieved not by making it but owning assets worth a billion dollars.
Clips
The best investment is in increasing your earning capacity and using that money to invest in skills that make you more money than they cost, and gaining access to communities of people who are making more money allows for learning intangibles and new perspectives.
16:59 - 18:59 (02:00)
Summary
The best investment is in increasing your earning capacity and using that money to invest in skills that make you more money than they cost, and gaining access to communities of people who are making more money allows for learning intangibles and new perspectives. It is important to be emotionally and psychologically prepared for money to avoid potential challenges and develop healthy beliefs about finances.
ChapterFalse Perspectives on Earning and Investing
Episode28 Ways To Reprogram Your Mind & Become Rich w/ Alex Hormozi EP 1340
PodcastThe School of Greatness
Planning for your next move after selling a business is crucial for a successful and fulfilling transition.
18:59 - 20:38 (01:38)
Summary
Planning for your next move after selling a business is crucial for a successful and fulfilling transition. It's important to have a plan for how to use the money earned from the sale, invest in future ventures, and anticipate the emotional impact of the experience.
ChapterFalse Perspectives on Earning and Investing
Episode28 Ways To Reprogram Your Mind & Become Rich w/ Alex Hormozi EP 1340
PodcastThe School of Greatness
The speaker describes how their perspective on achieving a billion-dollar business was false and how businesses are valued realistically.
20:38 - 24:42 (04:03)
Summary
The speaker describes how their perspective on achieving a billion-dollar business was false and how businesses are valued realistically. To have a business worth a billion dollars, it needs to do around $80 million a year in profit, in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).