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When we start a business, I’m convinced debt is mandatory:

An advertising trainer doing five to six million caps pay at 100k per hire. Alex argues every business takes on debt of some kind, financial or talent, and underpaying to save money just trades one form of debt for a bigger one.

Watch on YouTube When we start a business, I’m convinced debt is mandatory:

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MoreMozi

Alex Hormozi ›

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Short
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MoreMozi Shorts
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Full transcript on this page

Key takeaways

  • I don't have anybody that I pay more than 100,000.
  • And whenever you start a business, you always incur debt.
  • You can incur financial debt, you borrow money and then you start the business.
  • And so, you don't incur as much talent debt or as much management debt.

Chapters

  1. 0:00
    Abschnitt 1 I sell advertising training.
  2. 0:28
    Abschnitt 2 >> I've told myself up until now that I'm saving money.

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

2 segments

0:00I sell advertising training. We'll do five or six million. I'm optimistic. I don't have anybody that I pay more than 100,000. >> [music] >> So, that's one thing. >> Basically, you're choosing to make more money. By making more money, you're increasing your debt for humans. Businesses can incur lots of different types of debt. And whenever you start a business, you always incur debt. You can incur financial debt, you borrow money and then you start the business. But maybe if you borrow money, you can hire people that you otherwise couldn't hire. And so, you don't incur as much talent debt or as much management debt. The question is which type of debt you want to incur? You have talent debt.

0:28>> I've told myself up until now that I'm saving money. I'm paying less, and you're right, it's like costing so much more. [music] >> You might want to just jump to 250,000 a year, and you'll be like, "Holy I didn't know they made people like this."