Alex Hormozi is a name everyone in the fitness industry knows - he's a trusted source of information for a reason. Although he's best known for working with brick-and-mortar gyms - his lessons are applicable to online businesses, too. Especially online coaches or other digital service businesses.

His recent podcast episode talked about the 3 root causes of being stuck in a business:

Incorrect beliefs
Absence of character traits that we need
Skill deficiencies

When we apply this to online coaches, or other digital services, the main belief we need to have is that our product or service is as good as it can possibly be.

That when people work with us, they will get a transformational experience that massively outweighs what we're asking for, in terms of money.

Alex says when we don't have that belief, and we don't really believe that the product or service is the best it can be, we unconsciously limit how hard we're willing to push it. That's why it may not grow "beyond us".

The traits we're developing as business owners relate to our own self awareness. He says this is the factor that allows us to impact other people for the better.

When people feel that making money is selfish, they will struggle with the money making parts of running a business. But actually, making money can be altruistic if you see your business as a vehicle to help other people.

When I was first running my business, this was something that I really struggled with too. I felt conflicted about making money. And that was limiting my ability to really charge a reasonable fee for my skills.

This took a lot of deep work, but the lesson can be summarised in a lesson I learned from Ian Stanley:

Money is an amplifier. It takes what you already are - and magnifies it. If you're a bad person, you'll be worse with more money. If you're a good person, you'll do even more good for the world when you have the money to make an impact.

Finally, Alex talks about a lack of skills holding someone back from growing their business.

He talks about 2 skills:

The skill to do things yourself
The skill to find and hire the right people in your team

In the beginning, I did everything in my business myself. And while I still do lots of it, and I'm not "out" by any stretch of the imagination - I have a great team that help me do things that I'm not as good at as them.

The final takeaway on this episode...

If you think you've capped your market - you haven't. You've just capped your skills, beliefs or traits.

The solution to all of it?

Just get better. That's how you stay in the game.

Hormozi Says There Are 3 Reasons People Get Stuck In Their Businesses

Alex Hormozi is a name everyone in the fitness industry knows - he's a trusted source of information

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