The First Rule of Entrepreneurship

Our reading notes on Alex Hormozi

• I Offered $10,000 to Anyone Who Could Change My Mind | Ep 1013

  Hormozi invites entrepreneurs to challenge rules he has offered publicly. The chapter at 5:23 concerns which customers to sell to. Another, at 24:16, asks how much a founder should stake on one decision. The debate format gives the challenger a concrete job: find a situation in which following the rule produces a poor result.

• Building a $2,300,000/yr Business for a Stranger in 57 Mins | Ep 1012

  The salon owner charges the same price throughout the week, although her busiest days cluster from Thursday to Saturday. Hormozi asks when the appointments actually fill before discussing a price change. A calendar that looks half empty on average can still have a waiting list for the hours customers want most.

• How to Learn Anything Fast | Ep 1011

  Hormozi uses basketball to explain why an instruction such as “get better at business” gives someone little to practice. A coach can observe a free throw and change part of the motion. A manager can give equally precise feedback on a discovery call once the team identifies the action in question.