Alex Hormozi with Tom Bilyeu (Impact Theory) - How The 1% BUILD WEALTH (Copy These Millionaire Habits)

Alex Hormozi with Tom Bilyeu discuss the habits and skills that individuals should cultivate in order to build wealth, including focusing on one opportunity, learning how to advertise and sell, and consistently taking primary actions for 100 days.

The video is about how to build wealth and adopt millionaire habits.

Alex Hormozi, the guest on the show, advises that those starting from scratch should focus on one thing rather than many different things.

He suggests selling something to someone consistently through one channel, whether it be Facebook, Instagram, or YouTube.

Hormozi emphasizes the importance of advertising, selling, and having a good product. He also mentions the "rule 100," which involves doing 100 primary actions for 100 days to achieve six figures.

The biggest obstacle to success, according to Hormozi, is fear, which prevents people from taking action and making short-term sacrifices for long-term achievements.

• Focusing on one opportunity is better than trying multiple things.
• Learning how to advertise and sell is crucial for making six figures.
• Consistently taking primary actions for 100 days can lead to success.
• Fear is the biggest obstacle that stops people from achieving success.
• Building wealth requires sacrifice and a willingness to fail.
• Consistency and persistence are key for building wealth.
• Learning and skill stacking are important for success.
• Success is a volume game that requires taking risks and making sacrifices.
• Expecting to win on the first try can hinder success.

How The 1% BUILD WEALTH (Copy These Millionaire Habits) | Alex Hormozi with Tom Bilyeu - Impact Theory - YouTube

Focus on One Opportunity

• Focus on one thing in general rather than lots of different things that you're not sure about.
• Say no to all the other opportunities and pick one.
• Six figures is selling something to someone.
• Sell something to someone with one Avatar, one product, and one channel.
• Pick one media source and consistently start going on that.

Learn How to Advertise and Sell

• Advertise is the process of making known.
• There are six ways to advertise.
• Selling is the second skill.
• Product is the third skill.
• Learn how to advertise and sell to make six figures.

Consistently Take Primary Actions for 100 Days

• Doing the same thing consistently gets people to 100,000 a month.
• The rule 100 is 100 primary actions for 100 days.
• Pick one of the primary actions, such as 100 minutes of content creation per day or 100 reach outs per day.
• Most people won't do it consistently for an extended period of time.
• Consistently taking primary actions for 100 days will lead to making six figures.

How The 1% BUILD WEALTH (Copy These Millionaire Habits) | Alex Hormozi with Tom Bilyeu - Impact Theory - YouTube

Fear is the Biggest Obstacle

• Fear is the thing that stops most people from doing the stuff they know they need to do.
• People are afraid of not getting validated or being judged by others.
• Most people know what to do at a basic level, but fear prevents them from doing it.
• People won't use the same resourcefulness to make money for themselves as they would for someone else.
• Short-term sacrifice for long-term achievement is necessary.

Building Wealth Requires Sacrifice and Willingness to Fail

• Individuals must be willing to sacrifice comfort for long-term achievement.
• Assuming you're always right is a surefire way to stay poor.
• Marketing is just a fancy word for testing.
• Failure is inevitable, but it's important to learn from it and not let it define you.
• Consistency is key, but it's important to consistently take the right actions.

Focusing on Advertising and Selling

• Advertising and selling are crucial skills for building wealth.
• Breaking down actions into manageable tasks can help overcome overwhelming situations.
• Generating leads is a valuable skill that can be applied to any industry.
• Advertising and selling can be used to turn around failing businesses.
• The ability to pivot and adapt is important for success.

Learning from Failure and Building Skills

• Failure can be a valuable learning experience.
• Skills, experiences, and character traits are more valuable than assets.
• Obsessively learning and improving is important for success.
• Age should not be a limiting factor in learning and achieving success.
• Looking forward and focusing on growth is more important than looking back.

Consistency and Persistence are Key

• Consistently taking the right actions is crucial for building wealth.
• Persistence is necessary for overcoming obstacles and failures.
• Building wealth is a long-term process that requires patience and dedication.
• Success is not guaranteed, but consistent effort can increase the likelihood of achieving it.
• Building wealth requires a willingness to take risks and make sacrifices.

Importance of Learning and Skill Stacking

• Getting obsessed with learning is the key to success.
• Exposure to information is not the same as learning.
• Most of the things learned are through doing.
• The original rule of 100 is the most effective way to learn.
• Most people have a dramatic underestimation of how much volume it takes to be successful.

The Volume Game

• Success is a volume game.
• Feedback is obtained through volume.
• Little things are learned through volume.
• Decreasing the action threshold for people to begin is important.
• Expecting to suck is okay and reasonable.

Expectation and First Try

• Expecting to win on the first shot destroys the ability to be successful.
• Putting an expectation to be good from the jump is rough.
• Being a business influencer requires killing it in business.
• Most of the top business influencers have gone to millions a year.
• Success requires skill stacking.

Primary Actions for 100 Days

• Consistently taking primary actions for 100 days is important.
• Focus on one opportunity.
• Learn how to advertise and sell.
• Missing any one of the methodology, skills, or mindset leads to a death spiral.
• Reinventing oneself is important.

Why Trust Matters

• People need to trust the person giving advice before they will listen to them.
• It takes less effort to learn from someone you trust.
• People use filters to determine who to trust.
• People want to learn from someone with a winning record.
• People prefer to learn from someone they trust rather than someone who may be objectively better.

The Importance of True Expertise

• Content should be about true expertise.
• Talking about what you are doing is often more valuable than telling others what they should be doing.
• People should advertise what they sell.
• People should make content that adds value.
• People should avoid creating content solely for spiritual entertainment.

The Physics of Progress

• Failure is inevitable, and people should not be afraid to fail.
• The only way to improve is through the scientific method of testing and reformulating hypotheses.
• People should not let the need for external validation stop them from getting good.
• People should not let content become a trap that stops them from improving.
• People should focus on getting good rather than looking cool.

The Drive to Succeed

• Having a drive to succeed is important.
• Vanquishing a negative influence, such as a controlling parent, can be a powerful motivator.
• Feeling like respect is being withheld can be a motivator to succeed.
• Setting goals and achieving them can be a motivator to succeed.
• Success can be a motivator to continue succeeding.

Three Traits of Ultra Successful People

• Superiority complex: they believe they're better than others, deserve more than everyone else, and can accomplish big goals.
• Crippling insecurity: they feel they'll never be enough and will always be measured against their achievements.
• Impulse control: they're able to control their actions and focus on a single thing for an extended period of time.

Building Personal Discipline

• Discipline means compelling yourself to do difficult, stressful, boring, scary, or painful things.
• Achieving huge goals and reaching your potential requires doing challenging, stressful things and sticking with them.
• Building personal discipline is not easy, but it pays off.
• Impact Theory University offers a class called "How to Build Ironclad Discipline" that teaches the process of building personal discipline.
• Developing discipline is necessary to achieve anything meaningful.

Personal Habits and Traits

• From a young age, the speaker had a strong belief that he would be rich.
• He has a crushing need to validate himself and prove that he really did make it.
• He is insecure about his intelligence and ability to pull off his goals.
• He has a psychotic ability to delay gratification and can suffer and toil for extended periods of time.
• These personal habits and traits have helped him achieve success.

Identifying the Game You Want to Play

• The speaker realized that he was playing someone else's game and not his own.
• He had to process whether he was playing the game he wanted to play.
• He learned habits of working and being dedicated towards goals during that period of time.
• He still has these habits, but they are no longer fueled by the same thing.
• It's important to identify the game you want to play and set your own rules.

The Importance of Delayed Gratification

• Delaying gratification is not just about waiting for a short period of time, but extending the time horizon for achieving goals.
• If you can wait for a year, you can achieve financial stability for the rest of your life.
• If you can wait for a decade, you can achieve success beyond the one percent.
• If you can wait a lifetime, you can change the world.
• Most people cannot wait for more than 90 days, but extending the time horizon can lead to greater success.

The Importance of Patience

• Patience is necessary for playing the long game and achieving success.
• You must go all out at a sprinter's pace while running a marathon.
• Success is the ability to go from failure to failure without losing enthusiasm.
• It is important to become capable of a championship performance rather than just winning a championship ring.
• Achieving success requires an inhuman amount of concentration, willingness to fight through pain and suffering, and attaching meaning and purpose to your goals.

The Importance of Focusing on One Opportunity

• It is important to focus on one opportunity and become an expert in that area.
• Learning how to advertise and sell is crucial for success.
• Providing value to a group of people for free and delaying your ask can lead to greater success.
• Most people cannot wait for more than a month, but waiting for a year can lead to achieving your goals.
• Extending the time horizon for achieving goals can lead to greater success.

The Importance of Taking Primary Actions Consistently

• Consistently taking primary actions for 100 days can lead to forming habits and achieving success.
• Primary actions are the most important actions that lead to achieving your goals.
• It is important to focus on the process rather than the outcome.
• Most people give up too soon and do not give themselves enough time to achieve their goals.
• Consistency is key to achieving success.

Overcoming Fear of Sales

• Individuals should focus on the process of building wealth, rather than just the end goal.
• Learning how to advertise and sell is crucial for building wealth.
• Exposure therapy can help individuals overcome their fear of sales.
• Normalizing the fear of sales can help individuals become better salespeople.
• Consistently taking primary actions for 100 days can help individuals build wealth.

Personal Experience with Sales

• At first, the idea of selling was beneath the speaker and seemed scammy.
• Through exposure, the speaker realized that sales was about begging people to give them money in the beginning.
• The speaker has fallen in love with sales and believes it is about structuring a conversation to increase the likelihood of someone giving you money.
• The speaker believes that holding the frame is crucial in sales and involves having a clear agenda and controlling the conversation.
• The ability to hold the frame is about having a clear communication and understanding why the conversation is happening.

What Makes a Salesperson Creepy

• The speaker believes that sales is about structuring a conversation to increase the likelihood of someone giving you money.
• The ability to hold the frame is crucial in sales and involves having a clear agenda and controlling the conversation.
• The speaker believes that being clear about why the conversation is happening is important in sales.
• The biggest advantage that a salesperson has is that the person they are selling to has already said they have a problem.
• The speaker believes that some salespeople can be creepy, but it is unclear why.

Structuring a Sales Call

• Sales is about structuring a conversation to increase the likelihood of someone giving you money.
• The ability to hold the frame is crucial in sales and involves having a clear agenda and controlling the conversation.
• Clear communication is important in sales, especially in understanding why the conversation is happening.
• The biggest advantage that a salesperson has is that the person they are selling to has already said they have a problem.
• Turning desire into a decision involves agreeing on a frame to analyze the decision.

Sales Script

• Shortest possible scripts are best for sales calls.
• Many sales calls waste time on rapport building before getting to the pitch.
• The goal of sales is to get the person to decide, not just to buy.
• People don't decide for three reasons: circumstances, other people, and themselves.
• Overcoming obstacles in a sale involves addressing these three reasons.

Clear Communication

• Many people don't know how to communicate effectively in sales calls.
• Clear communication involves identifying the problem the customer is trying to solve.
• Obstacles in sales calls often involve excuses like "I don't have time."
• Overcoming these obstacles involves showing how they are fallacies and distortions of reality.
• Clear communication helps customers feel empowered and make decisions.

Value Additive Sales

• Selling properly involves providing value to the customer.
• Value comes from helping the customer make a decision, not just buying something.
• Empowering customers to make decisions helps them take steps towards the life they want.
• Structuring a conversation to provide clarity and decision-making tools is not icky, but value additive.
• Learning how to sell properly can help sell anything.

Overcoming Obstacles

• Obstacles in sales often involve excuses like "I don't have time" or "my partner won't let me."
• Overcoming these obstacles involves showing how they are fallacies and distortions of reality.
• Starting when you're busy can actually provide more support for success.
• Peeling back layers of excuses helps customers feel empowered and make decisions.
• Overcoming obstacles helps customers take steps towards the life they want.

Overcoming Inaction and Fear

• Asking for permission instead of support leads to inaction and regret.
• Confronting reality and making decisions can be uncomfortable, but necessary for progress.
• Many people fear making mistakes and losing status as a result of their decisions.
• Instead of needing time to make a decision, people need information.
• Variables to consider when making a decision include whether the solution solves the problem, whether the person wants to work with the company, and whether they have access to the necessary funds.

Developing Compelling Reasons to Act

• Developing compelling reasons to act decreases the time between getting information and taking action.
• Beliefs about the meaning of actions and outcomes shape emotions and responses to situations.
• Controlling one's state and emotions is important for success.
• Beliefs about emotions can drive people mad.
• Accepting and reframing emotions can help people move forward.

Building Wealth through Focused Action

• Building wealth requires focus on one opportunity.
• Learning how to advertise and sell is crucial for success.
• Consistently taking primary actions for 100 days can lead to significant progress.
• Developing a framework for decision-making can help overcome fear and inaction.
• Beliefs about the meaning of actions and outcomes shape emotions and responses to situations.

Contrarian Beliefs for Success

• Beliefs about the meaning of actions and outcomes shape emotions and responses to situations.
• Beliefs about emotions can drive people mad.
• Accepting and reframing emotions can help people move forward.
• Having a contrarian worldview can help entrepreneurs overcome obstacles.
• Believing that there is no inherent meaning in actions or outcomes can help people reframe discomfort and overcome fear.

Beliefs and Behaviors

• People get in trouble when they believe that there are things that are objectively good or bad.
• Beliefs influence behaviors, which determine outcomes.
• Effective beliefs move individuals towards their goals.
• Something is true based on its ability to increase the ability to predict the future and the outcome of actions.
• Individuals should question their beliefs and be open to changing them.

Impact Theory University

• Impact Theory University teaches business skills and deals with self-destructive behavior and beliefs first.
• Success is the ability to go from failure to failure without losing enthusiasm.
• The ability to do this is predicated on the story individuals tell themselves about themselves.
• Peeling back self-destructive beliefs and behaviors is necessary to succeed in business.
• Effective communication helps individuals break beliefs that are not true.

The Sales Process

• The process of being a good salesperson is helping people break beliefs that are not true.
• Unencumbering individuals makes it easier to sell them a solution.
• Effective salespeople help individuals see that buying a solution will get them closer to their desired outcome.
• Effective communication helps individuals wade through their beliefs and get to the solution.
• Effective salespeople help individuals see that their beliefs are not true and that they can achieve their goals.

Effective Beliefs

• Effective beliefs move individuals towards their goals.
• Beliefs should be based on an individual's ability to predict the future and the outcome of actions.
• Individuals should question their beliefs and be open to changing them.
• Effective communication helps individuals break beliefs that are not true.
• Effective salespeople help individuals see that their beliefs are not true and that they can achieve their goals.

Understanding Leverage

• Leverage is a key concept in building wealth.
• People are limited by their skills, beliefs, or traits.
• Skill deficiency is the easiest to fix by practicing with a community of people.
• Traits and beliefs are more difficult to change, but can be altered by hearing stories that conflict with one's view of reality.
• Beliefs can be changed by accepting evidence that proves a new perspective to be true.

The Importance of Focus

• Focus is a common trait among successful entrepreneurs.
• Many people struggle with doing the same thing repeatedly and instead build multiple half-finished projects.
• Having too many businesses can lead to a lack of focus and discipline.
• Learning to say no and focusing on one opportunity can lead to success.
• It's important to identify which traits or skills are lacking in order to improve.

The Value of Alternative Education

• The alternative education space, including the guru space, can be a valuable resource for learning about building wealth.
• Traditional college degrees are becoming less valuable as people realize some degrees are dubious at best.
• Teachers are often only experts in teaching and may not have the skills or knowledge to teach about finance or mindset.
• Getting experts in these areas to teach can be difficult, but alternative education resources are making it easier to access this knowledge.
• People with a real track record of success are putting together courses that can be accessed easily online.

The Power of Belief

• Beliefs can be a major factor in building wealth.
• Changing beliefs can lead to significant increases in income.
• One example is a friend who went from making $20,000 a month to $100,000 a month simply by changing his belief about his fitness app.
• It's important to identify and challenge limiting beliefs in order to achieve success.
• Beliefs can be changed by accepting evidence that proves a new perspective to be true.

Competition and Age

• There is often competition and conflict between different age groups in entrepreneurship.
• Entrepreneurs should focus on making the world a better place and having an impact.
• Access to information has made it possible for younger entrepreneurs to have the same knowledge and experience as older ones.
• Older entrepreneurs should be thrilled that business is a sport that you don't have to age out of.
• Competition is important, but it should be a light and expansive energy.

Learning Habits

• Individuals should focus on one opportunity and learn everything they can about it.
• Learning how to advertise and sell is crucial for building wealth.
• Consistently taking primary actions for 100 days can help individuals build habits and achieve their goals.
• Individuals should be willing to learn from their mistakes and failures.
• Reading and consuming information is important, but taking action is even more important.

Building Wealth

• Building wealth is about creating value for others.
• Entrepreneurs should focus on solving problems and meeting needs in the market.
• Building a team and delegating tasks is important for scaling a business.
• Investing in assets that generate passive income is crucial for building long-term wealth.
• Building wealth requires discipline, consistency, and a long-term perspective.

Mindset and Habits

• Having a growth mindset is crucial for success in entrepreneurship.
• Developing good habits and routines is important for achieving goals.
• Entrepreneurs should focus on their strengths and delegate tasks that are not their strengths.
• Having a positive attitude and surrounding oneself with positive people is important for success.
• Taking care of one's physical and mental health is crucial for long-term success.

Building Wealth Habits

• Focus on one opportunity at a time.
• Learn how to advertise and sell.
• Consistently take primary actions for 100 days.
• Optimize for the game still being fun when you're losing.
• Be able to have fun in the loss because there will be a lot of losing in your career.

The Power of Competition

• Be inspired by the willingness to push yourself that hard to see what you have in you.
• Reframe the game in a way that separates the good of competition from the bad of competition.
• Look at it from the infinite perspective of there is no number one.
• Shift from the finite to the infinite perspective.
• Win by not stopping.

Honoring the Game

• Do honor to the game by being an excellent player.
• Appreciate the game and want to play with honor and honor other players.
• Optimize for the game still being fun when you're losing.
• Be able to have fun in the loss because there will be a lot of losing in your career.
• Love the struggle because you can't guarantee success.

The Kobe Mentality

• Be a die-hard competitor.
• Push yourself to find your limits.
• Be willing to put yourself out there and go for broke.
• Be inspired by Kobe's willingness to push himself that hard.
• Be traumatized by your limitations and do the most that you can with your malleable.

Chase Fulfillment and Enjoy the Climb

• Fulfillment is the only stable thing across joy and pain.
• The best thing life has to offer is the moment when you're working hard at something and it's working.
• There's no emotional peak higher than that moment.
• Enjoy the food, enjoy the orgy, but as soon as they're over, you'll be looking for the next thing.
• Understand the cycles and that you're going to keep doing the climb, so you better love the climb.

Micro Wins and Predictors of Future Success

• Micro wins are important, such as when the funnel is working and you have leads.
• Days of huge sales are also important.
• Exit events can be predictors of future success.
• Learn what you really love.
• Money can be life-changing, but it's not the end goal.

Focus on One Opportunity

• Focus on one thing and do it really well.
• Don't get distracted by other opportunities.
• Learn how to advertise and sell.
• Be willing to pivot if something isn't working.
• Consistently take primary actions for 100 days.

Skills to Cultivate

• Learn how to advertise and sell.
• Be willing to pivot if something isn't working.
• Consistently take primary actions for 100 days.
• Be willing to invest in yourself and your education.
• Be willing to take risks and fail.

Building Wealth Habits

• Focus on one opportunity at a time.
• Learn how to advertise and sell.
• Consistently take primary actions for 100 days.
• Don't tie your sense of self-worth to money.
• Be thoughtful about what you think about yourself when you're alone.

Defining Self-Image

• Self-image is defined by actions and evidence.
• It can be harder to define self-image without evidence.
• Early on, self-image was anchored to making more money than his dad.
• Obsession with happiness led to a shift in focus to just doing things.
• Shifted from introspection to working and found himself not thinking about happiness for a long time.

Experiencing Joy

• Disconnecting from transient things like money and material possessions.
• Appreciating the beauty in both sides of the coin, even in suffering.
• Understanding the value of The Human Experience.
• Experiencing joy in mourning.
• Valuing both the positive and negative experiences in life.

Reflections on Self-Worth

• Money doesn't make you feel better about yourself.
• Don't tie your identity to money or material possessions.
• Be thoughtful about what you think about yourself when you're alone.
• Disconnect from transient things and focus on The Human Experience.
• Value both positive and negative experiences in life.

Importance of Being Present

• Most people are not present in their lives.
• Being present allows you to experience the full spectrum of life.
• Learning to be apathetic can help you rise above negative experiences.
• Applying the "grandfather frame" can help you feel gratitude for the present moment.
• Frames of reference are everything.

Focus on One Opportunity

• Focus on one opportunity at a time to maximize your chances of success.
• Don't spread yourself too thin by pursuing multiple opportunities at once.
• Once you've achieved success in one area, you can move on to the next.
• Success is a process, not an event.
• Consistency is key to achieving success.

Learn How to Advertise and Sell

• Learning how to advertise and sell is crucial for building wealth.
• Advertising and selling are skills that can be learned and improved upon.
• Effective advertising and selling require understanding your target audience.
• Focus on providing value to your customers rather than just making a sale.
• Building relationships with your customers is important for long-term success.

Consistently Take Primary Actions for 100 Days

• Consistently taking primary actions for 100 days can help you achieve your goals.
• Primary actions are the most important actions that will move you towards your goal.
• Consistency is key to achieving success.
• Breaking down your goals into smaller, manageable tasks can help you stay consistent.
• Don't let fear or self-doubt hold you back from taking action.

Changing Your Frame of Reference

• Many people have the ability to process raw data, but their software leads to a bizarre frame of reference for how the world works or what they're capable of.
• Changing your frame of reference can help you move towards your goals.
• Two potent frames of reference are the deathbed frame of reference and the brain in a vat frame of reference.
• The deathbed frame of reference helps you gain perspective on what really matters in life.
• The brain in a vat frame of reference helps you realize that the things that create your sense of identity could be made up anyway.

The Fear of Failure

• The fear of photons that fall on an object prevents people from starting or continuing.
• When people fail, they often extrapolate that failure out until their deathbed and say they will fail forever.
• Frames of reference can help people overcome the fear of failure.
• Frames of reference can help people realize that failure is not the end and that they can always start again.
• Frames of reference can help people focus on what really matters in life.

The Value of Non-Material Things

• When people lose everything, they often focus on what they have lost rather than what they have gained.
• Non-material things, such as skills and knowledge, are often more valuable than material things.
• Experiences and relationships are also valuable non-material things.
• People should focus on building non-material things in addition to material things.
• Non-material things can help people overcome adversity and build wealth.

The Unknown Future

• Success is not guaranteed, even for people who have had success before.
• People should not over-optimize for something they're going to go through, such as a deathbed.
• People should focus on building skills and knowledge that will help them navigate the unknown future.
• People should focus on building relationships and experiences that will help them overcome adversity.
• People should focus on what really matters in life, such as their values and their relationships with others.

Importance of Fulfillment over Wealth

• Don't tie your sense of worth to wealth or success.
• Focus on thoughts that result in fulfillment rather than wealth.
• Anchor yourself around fulfillment.
• Self-worth should not be wrapped in the things you do or the companies you own.
• Don't judge yourself based on your wealth or success.

Building Wealth Habits

• Focus on one opportunity and give it your all.
• Learn how to advertise and sell.
• Consistently take primary actions for 100 days.
• Don't give power to your excuses.
• Own your circumstances because no one else will.

The Difference Between Successful and Unsuccessful People

• The difference is the degree to which they attribute or give power to their circumstances.
• Self-made billionaires started with nothing but had resourcefulness.
• Don't give power to circumstance or other people.
• Control the controllable.
• Don't cast power outside of yourself.

The Importance of Owning Your Deficits

• Don't cast power to something you cannot control.
• Get people to unfuck themselves around the power they have cast to their circumstances.
• Own the fact that you suck and take pride in admitting your deficits.
• Don't be a victim.
• You are the only person who can change anything about your life.

Watch the video on YouTube:
How The 1% BUILD WEALTH (Copy These Millionaire Habits) | Alex Hormozi with Tom Bilyeu - Impact Theory - YouTube

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