The Game w/ Alex Hormozi

You have to pick one which you can win at. You can’t win with all. Today, Alex (@AlexHormozi) talks about one of the common mistakes new entrepreneurs make: niche hopping, discusses the 5 stages that the entrepreneur will go through, and why picking just one is way better than spreading yourself too thin. Note: there is no shortcut, you have to put in the work.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(1:44) - Alex shares a story of a time when he owned multiple businesses thinking it would make more money. Spoiler: it didn’t

(3:36) - The 5 stages of Niche Hopping that every new entrepreneur will go through: Uninformed Optimism / Informed Pessimism, Valley of Despair, Going Through The Sh*t, Informed Optimism, and Achievement. Alex dives into each stage

(7:22) - You will never get to the eight-figure goal unless you confront the problems going on in your head instead of running away from them (which results in niche hopping)

(9:33) - And the only way to win is to be better. And the way to be better is to stick through the sh*t (the third step) where everyone bails

(11:28) - The reason Gym Launch became successful is that every single step of the process they made it a point to keep on testing and making sure they can improve on their systems

(14:22) - I'm not gonna do six niches. I'm gonna pick one and I'm gonna get really good at it, And that's what I'm gonna do. And when it gets hard, I'm gonna stick with it

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The 5 Stages of Niche Hopping... | Ep 221