if somebody is starting from scratch
what are the traits skill sets that they
should be cultivating in order to up the
odds of their success they should focus
on one thing in general rather than lots
of different things that you’re not sure
about because if you’re starting out
everything looks like an opportunity so
correct answer is all of them are
opportunities but all of them won’t work
unless you pick one so boom you pick one
and then from there I always say six
figures is sell something to someone
that’s it and if you want more detail
sell something to someone so it’s one
Avatar one product one channel you don’t
have to figure out just pick one channel
one media Source whether it’s Facebook
Instagram YouTube consistently start
going on that whether that’s cold
outbound whether that’s content whatever
it is and start reaching out to people
there to start selling your stuff you
have to learn how to advertise which I
Define is the process of making now so
you have to advertise there’s six ways
to do it and then once people engage
with whatever advertisement you have
advertising is the first skill selling
and it’s the second skill product would
be the third skill which is the thing
that you’re ultimately advertising and
selling baggage is six figures what gets
the seventh doing the same thing
consistently so usually once people do
it in the beginning they’re sporadic
they’re not consistent with it usually
gets people to 100 000 a month sounds
crazy it’s probably people listening but
most people who think that’s crazy also
haven’t done it consistently for an
extended period of time and so I use
something that I call the rule 100 which
is 100 primary actions whether that’s
100 minutes of content creation per day
100 reach outs per day you have to pick
one of them but 100 per day can you do
that for 100 days and I promise you’ll
be making six figures if you do that
need motivation watch your top 10 with
believe Nation hey Carmichael and I make
these videos because in my first
business I was making 300 bucks a month
I quit on my business partner and the
thing that saved me was studying the
stories of super successful
entrepreneurs so I hope that this story
today helps give you the motivation you
need because I still needed to myself so
today let’s learn from one of the best
Alex hermosi and my take on his top 10
rules of success enjoy
Rule Number Two start small to get
started you have to sell something to
someone that’s it like literally that’s
all one Avatar one product one channel
that’s it so you have one way of getting
customers you sell one thing to one
specific type of person that is all you
need to do to get to six figures
to get to Seven figures you need to
learn how to do those three things comma
reliably comma consistently right so
it’s you know how to sell one product
one avatar on one channel in a
consistent manner so you start having
predictive metrics on how you can
acquire customers so it’s either I spend
this amount of money on advertising and
this is how many you know calls to get
booked and then from that many calls I
get that many you know sales Etc uh if
it’s outbound it’s like I send this many
emails or make this many calls or this
many texts and then it’s been a you know
reply back this many scheduled this many
show this many close Etc if you’re
running organic it’s I know that I need
to have this many posts that I have to
make across these different channels
with call to actions that drive towards
this page for every thousand visitors on
this page I get why opt-ins why you know
what I mean so each of these vehicles or
I have to hit my email list you know
once a week and if I hit it once a week
with a call to action again so all these
are the different ways you can get
customers you can also do Affiliates you
can do referrals there’s many ways to do
it but the point is you pick one Avatar
one channel and one product and then as
soon as you can start predictively uh as
soon as you can start predicting
how many inputs it takes to get an
output then you get to a million right
and at that point you’re you know one
two three million ish a year uh one to
three you have to build out your core
team so that’s usually like the first
five hires first five to ten-ish that
are it depends on the on the
on the ticket of the thing that’s being
sold you know if you’re selling 25 000
things versus 500 things the the team
size is going to be different
but it’s the core team at about 3
million and that’s usually that’s the
reason that we take companies on at
three is usually there because because
there’s a core team and at three million
there’s product Market fit so they’ve
demonstrated that people want this thing
and they have enough support that we can
take them from three to ten three to ten
uh and this is interesting because this
is a mistake a lot of people make it
three and I can stop whenever you want
me to cut the lines of the problems that
come up but the problems that come up at
three-ish
um
are that people start getting cute right
and they start saying and here’s what’s
difficult is that you get reinforced on
the fact that the more you Market the
more you sell the more money you make
right and it’s true and you can scale
from there by doing more sales more
marketing and that is what the vast
majority of the industry will do because
they got reinforced doing it early
the problem is that they switch the
objectives the objective of the first
phase of business which for me is like
zero to three is just to demonstrate
product Market fit and an acquisition
channel that is profitable that is the
objective now
at this point we transition objectives
to increasing lifetime value per
customer so this is improving customer
experience putting Data Tracking in
place
um if there’s an Ascension opportunity
that makes sense we need to build out
that product or service line so that and
this is the big point so that when we do
choose to add another Channel or expand
on our current Channel we can do so more
profitably right where if you just sell
a single product that might not have as
much LTV as you would you know you would
want as you scale or put more in uh your
margins begin to compress so you might
go up to 10 million but your margins
have compressed over time and then you
get in this place where you have to keep
selling to maintain your overhead but
you’re not really taking enough home and
you can’t have enough cash free cash
flow to grow the business and so
sometimes it’s like you have to take the
step back fix the product fix the
customer experience fish fix the the
service fix the data fix the
infrastructure that everything’s built
on probably hire and fire some people
that you promoted a little bit too early
that didn’t have the experience because
they’re actually actually running things
that well
um and then once we fix that stuff then
honestly going from three to ten usually
almost happens on its own once we’re at
10 then we go far more aggressively on
the acquisition side which is you know
the the easiest moniker that I use is
more better new so we do more what we’re
currently doing until we Max that out
and then we do better of what we’re
currently doing is there any cro
opportunity so conversion rate
optimization can we switch this headline
out can we change this lead magnet can
we can we Implement some of the best
practices that we know to get you know
more people to show up if it’s a service
business if it’s a if it’s a product
business now I only focus on service
businesses so lots of me lots of our
stuff is over the phone
um can we change the the video sales
letters and the follow-up emails things
like that all the improvements that can
happen
um
and then different is okay or new is can
we add a new channel to this so we have
six that we can choose from to get new
customers we’ve got we’ve got we can hit
up our own lists we can do cold cold
outbound we can do content we can do
paid ads we can do Affiliates and we can
do referrals and so those are the only
six ways to get your customers we look
at those six and say of the skills that
we currently have which of these would
make the most sense to add to it and you
can even go adding a new thing within a
current so if you’re running paid ads
it’s like going from Facebook to YouTube
or going from Facebook to tick tock and
so there’s you know is each each one of
those six squares has channels or media
channels that you can or platforms that
you can tap into that give you new
audiences so that was a little bit of a
crash course there but that’s what
allows you to scale from 10 to 30 and
Beyond at 30ish the uh the founders
typically will start feeling constrained
because they are the juju behind the
entire business rule number three be
consistent you are not successful in my
eyes because whenever you see some
outcome you stop the activities which
means you don’t have the trait of
consistency I was like the reason you
aren’t where you want to be is because
you can’t do things repeatedly and so
most people can’t do one thing over and
over again you need to be able to do the
doing without seeing the result of your
doing and you have to keep doing it and
if you can keep doing things independent
and this is both ways if it goes really
well you keep doing the thing that got
you there and if it’s not going well
comma yet you keep doing the thing so
that you get good enough that one day it
will and that’s the shift that most
people don’t make and I think that’s why
most people just stay poor and the
reality is that if you can commit to the
actions and the behaviors and the traits
that you will grow through doing then at
the end of this process a decade later
you will be the type of person who can
do something for a long period of time
and wait and I promise you that if you
have that trade money will never be a
constraint in your life this is from
Atomic habits every winner and every
loser have the same goals
so when you measure Yourself by having
this external thing and people like set
goals
everyone wants to be rich
everyone wants to have a six-pack your
goals don’t make you unique it’s the
activities that you do that make you
unique the goal of the winner is to
commit to the activities the goal of the
loser is to commit to the goal 52 of 18
year olds High School seniors think
they’re going to be millionaires by 25.
the world is going to be shook
many of you will fail and that’s because
most of you have the same goal 52 You
Think You’re Gonna Be A Millionaire
right that’s just math but only a small
percentage will because
if you want to be a millionaire you’re
not going to focus on making the million
dollars you’re going to focus on the
stuff that makes a million dollars and
so when you can divorce
the activities from the outcome then you
can focus on the doing which whether
your income does this over that period
of time your self-esteem Remains the
Same because you’re committing to what
you can control if you can make that
shift it will change your life so I
started making podcasts six years ago I
committed to that process when I signed
on with a YouTube vendor a few years ago
on the first call I said
I’d like to have this channel be
something in five to ten years I was
like We’ll look at it then and see if it
was worth continuing to do I was like
but I’m in for a decade and he stopped
me afterwards he was like I’ve literally
never had a client say that to me ever
he’s like they’re all like how can I get
leads in the first 90 days from YouTube
and like blah blah I was like if we’re
making progress
I’m good
I’ll commit to that I think that if you
can think that way you will get what you
want and then people will ask you a
decade from now man how did you have
this overnight success and blah blah
blah and aren’t you like don’t the
followers and the fans like how does it
not get to your head and you’re like
because it was never the goal and so I
feel just as good at year one as I do at
year eight because the activities that I
committed to remain the same if you can
think that way and you can shift your
perspective it will it’ll decrease your
emotional ups and downs and I think we
all need ways to decrease our emotional
ups and downs in the game of business
because like we need to have second
lives the third lives and fourth lives
and the way to do that is to not put
your life your game playing life in
something that you can’t control but
putting all your game playing life in
the things you can rule number four
reframe your thinking for me a very core
belief that has been I think intrinsic
to at least the material success that
we’ve experienced has been a belief that
meaning is
self-ascribed so that there is no
inherent meaning in the things that we
do or the actions we take or the
outcomes that happen
but only that which we ascribe to it and
so because of that I feel like it’s
allowed me to the point of what you’re
saying about like the amount of pain the
amount of suffering that you have to go
through in order to to achieve the
things on the other side I think it’s
been able to it’s allowed me to reframe
a lot of the discomfort into what if
this just is how it always has been or
what if this is actually amazing
and what if this is exactly what it
should look like and so I think a lot of
times it’s the it’s the discrepancy
between our expectations in reality that
shape the emotions that we have in
response to any given situation bad good
Etc and so I think a lot of people can’t
control their state and I we deal with
this with a lot of the portfolio
companies is it’s like it’s funny
because I don’t even necessarily want to
get in this I want to talk about like
the business and what’s the strategy how
we’re going to execute the stuff but you
know there’s a big percentage of time
where they’re stressed and they think
there’s something wrong with that
so I feel like
a lot of people feel like there’s
something wrong with experiencing human
emotions
and so they are stressed and then think
there’s something wrong with them
or they are sad and I know this is the
thing that the keyboards are you know
the fingers are right on top of it
it’s my belief it is contrary and I
accept that
that
it’s it’s the beliefs we have about our
emotions that are the things that drive
us mad facts
and so somebody’s sad and then they tell
themselves that they’re they’re bad
because they’re sad or they’re wrong to
be sad or they’re a piece of
because they’re sad
um rather than saying isn’t this a
beautiful thought about the human
existence like if I could not be sad
then I would not experience Joy so like
if I say that I don’t want to be sad
anymore then I would also have to give
up Joy am I willing to do that no well
then this is just a part like I can’t
say that I want sunny days if there are
no rainy days
like we don’t say weather is good or bad
it just is
and so I think to the same degree The
Human Experience is also that way too at
least how I Define it and so I think
having that as my backbone frame in
terms of my worldview although
contrarian has helped me a lot in
dealing with the things that often
derail entrepreneurs on their path to
getting what they want and so for me
that’s been very helpful so from a
contrarian standpoint of like Bully you
know Peter thiel’s question like what
closely hopefully do you have that most
people don’t agree with that’s one of
them also to make sure you’re actually
taking action after watching this video
I’ve designed a special free worksheet
just for this video the worksheet will
highlight all the Lessons Learned in
this video as well as pull out our three
favorite learnings and quotes that will
inspire you to actually do something the
worksheet will also give you space to
write down what your key takeaways are
and your specific plan of action to make
sure you’re getting results if you want
the worksheet designed specifically for
this video absolutely for free there’s a
link in the description below go click
on it and start building the momentum in
your life and your business I’ll see you
there rule number five learn to assess
yourself the biggest issue that most
people have is they don’t have the
ability to discern what their Missing
Link is or what their next step is
what’s the if you think about the theory
of constraints which is that a system
will grow until it’s constrained and so
what happens is most people add
potential to a system but they don’t
actually increase the throughput of the
system so for example if I had a a
bridge right and it has a weak Link in
the bridge or let’s say a chain is
probably simpler so if you have a chain
and you have to pull two things the
amount of force that you can put on the
chain is just predicated based on the
weakest leg and so what happens is that
people reinforce a strong link and not
the weak Link in the chain and so they
add potential to the chain but they
don’t actually add any more strength
that can be pulled and so if you think
about the amount of money you’re trying
to make is up as amount of money that
you’re literally trying to pull towards
you that weak link is going to be the
skill deficiency that you have and so
most people solve problems that aren’t
really there and they spend a lot of
their time reinforcing skills that they
enjoy but that’s not their deficiency
and so that’s why like the
entrepreneurship thing is you have to be
a jack of all tradesmaster I’ve known
you have to be good enough to get the
thing across across the Finish Line to
pull you know pull the money towards you
you don’t have to have the strongest
length you just need all the links to be
strong enough and so I think most people
aren’t good at assessing their own
deficiencies and so if the follow-up
question is how do you assess
deficiencies right how do you know
what’s What’s missing
the question is uh what are the revenue
generating activities within a business
how can I get myself closer to those
Revenue generating activities
um and so you can look at products as a
revenue generating activity you can look
at sales and revenue generating activity
you can look at marketing is revenue
generating activity and so if you think
about those as kind of the Three core
pillars of what businessing is and then
you have back of house right you’ve got
Finance you’ve got I.T you’ve got uh the
other pieces but the people who are sent
even in the back office know how to
generate Revenue and bottom line
for for their division so for example my
CFO uh Suzanne chiplet she um you know
she led a 15 billion acquisition uh 5
billion or 1 billion the last company
she was at was 750 million she’s been
dollar one to 100 million two times so
like she’s she’s been there and the
first thing she did on our like our
first interviews like oh you won’t have
to pay for me I was like and she’s paid
very well
um and she’s like you don’t have to pay
for me she’s like I’ll save I’ll save
more than what you’re ever going to pay
me just first six months I’ll save you
that and I was like oh cool and so smart
people know how to do that like like a
an intelligent you know video editor is
going to come and say dude I can 10x the
amount of views that you’re getting on
this thing because he’s going to tie
himself to marketing a good product
person is going to say I can I can
decrease our churn which is going to
increase your LTV I’m going to be able
to get more people to ascend because
they have a higher MPS score and they’re
more likely to want to keep buying from
us like so they have to just figure out
a way to tie whatever the thing if
they’re really passionate about
something by all means go all in on if
you’re I.T then you’re thinking how can
I decrease page load times how can I get
conversion rates up you start getting
into the cro side how can I organize the
data in such a way that the CEO can make
better decisions and we have real-time
reporting against all the sales guys so
we can optimize our funnels towards the
best converting guys right like all of
all aspects of the business can make
more money but people don’t think about
it through that lens so the first thing
is how do I tie what I do every day to
making more money in the business you
connect that dot and then you improve
that connection well number six avoid
stress I get asked about mindset a lot
on podcasts they’re like when you’re
building a business or you’re building
your career there are stressors that
come into play how we manage the
circumstances or the conditions that
come to us it dictates how our life
turns out everybody has bad stuff happen
you probably believed and nodded your
head like yeah everyone has stuff happen
and then we choose to make it bad or
good imagine for a second two children
that are playing one child tells the
other child your nose is really big or
you’re fat
interesting is that the child who hears
it is unaffected and the child who says
it is unaffected they’re like you’re fat
and he’s like huh parent comes in and
overhears it and she’s like oh my God
takes the child that was called fat
Comforts them gives them the expectation
that they should be upset and then tells
the other one that that was bad and in a
moment there was something that is now
traumatic that otherwise wouldn’t have
been and so when we’re kids we walk into
the world with no meaning all we do is
we observe and then whatever the adults
around us tell us and say this means
that we take his fact and it’s not true
it’s their interpretation of the world
and we inherit them and then we spend
the rest of our life trying to undo and
examine these beliefs that we have been
told by people that we probably don’t
agree with when something bothers you
pull it out and look at and say what
happened and why is this bad and what
would it look like if it were good and
so the two tools that I use are time and
volume the volume example is thinking
okay I’m in traffic if this happened
every day would I be upset if it
happened every day I’d probably expect
it which means that I would not be upset
about it because it’s just how things
always are if you want to make it
positive you say well what if every time
I got in a car normally it would take an
hour and today it took 30. I’d be pretty
excited about it and so all we did is
just change the volume on the
circumstance to recalibrate the meaning
that we’re choosing to ascribe to it
good or bad I like to think of
circumstances a lot like weather which
is like you’ve got sunny days and you’ve
got rainy days and the problem in my
opinion is that people any day that it
rains they say is bad and any day that’s
Sunny they say is good when in reality
it just is it’s just the weather
contrast is what create the quote good
and bad when reality there’s just a
middle line and half of it’s above and
half of its below then what we can do is
artificially move the line in our minds
by saying whatever this circumstance is
what would it look like if it were worse
and what would it look like if it were
worse all the time and if so then maybe
today’s a good thing the second frame
that I like to use is time a hundred
years out but 10 000 years out how much
is this going to matter the reason
something affects you is because you
have deemed it meaningful you’ve said it
matters it’s my world view that nothing
matters with a capital M like nothing
matters in the universe it doesn’t
matter there’s this statue of a head
that’s in the Sands of Egypt all right
and it’s bigger than this whole room and
it’s just the head it’s worn out and
then scripted along the forehead it says
here lies
crazy name who owned everything that the
eye could see the immortal so-and-so and
the only thing that was left was a worn
out statue head that no one knew who he
was and it was five thousand years old
if that guy who ruled the known world to
him wealth probably mattered right but
does it matter no probably not I’ve
relieved a lot of the pressure in my
life so that I could make better
decisions by zooming way out and
thinking ten thousand years from now
will this matter and if the answer is no
does it matter to me and then if I can
make the decision of like good or bad
based on my new context that I created
then I can live a life a lot easier and
so for me that helped me decrease
anxiety it helped me decrease sadness
around certain circumstances and I’ll
give you the last example of this so Ida
cat named Bill Chill Bill rest in peace
homie Love the cat he died it’s like
some freak heart thing or something so
you died in like two years when he died
I was bumped I was like this sucks then
I thought to myself what if cats only
normally lived six months how stoked
would I be that he lived four times the
normal length of a normal cat I was like
I’d probably be really stuck be like
dude he lived a long life I can’t
believe we had him this long and all of
a sudden my perspective around the death
completely changed I was like I was so
grateful that I got to have him as long
as I did when you play with time and you
play with volume first off we have to be
aware of the levers of meaning that
exist and then once you’re aware of them
you can start moving them in your favor
and then looking at your current
conditions through different lenses and
say what would this mean if it were
amazing what would the conditions have
to be in order for this to be an awesome
thing and then all of a sudden you just
exit the game of happy sad and get to be
your own game maker at least that’s what
I tried to do when I get upset look at
it pull it apart thing like is this real
is this true rule number seven improve
your decision the thing is is your
decision-making process is ultimately
the most valuable thing valuable thing
that you have right it’s what makes you
it’s your picker right it makes you
decide what what way to go who you’re
going to marry what business opportunity
you’re going to pursue how you’re going
to price how you’re going to start
marketing what you’re going to learn
first who you’re going to you know get
mentoring from all of these things who
you’re going to become friends with like
all of these are decisions right and
you know you can take the money away
from a billionaire and then they can
recreate it again Elon Musk you know
lost it and then gained it all back
right and so like the thing is is the
decision making is what ultimately fuels
all these things and the hardest part
about entrepreneurship and really I mean
I think almost life in general is that
you can make the right decision and have
the wrong outcome and I think and let me
give you a couple examples of this so
for example
um you may say you know what like I look
I listen to Warren Buffett I think he’s
a good investor and so he says I
wouldn’t I wouldn’t touch Bitcoin right
and I hear that I’m like man well he
knows a little bit more about it than I
do but his argument was simple it is
speculative which means I’m buying it
not because it has intrinsic value but
only because I believe that someone else
will buy it for more later right that’s
all it is he only believes in investing
in things that have intrinsic value and
also produce right so they actually have
production so like a business you buy
you still own the business at the end
and then it spits out production which
would be profit or crops or whatever
right
so that’s the basic difference right and
so the thing is is that you can make the
right decision so for example I chose
not to buy Bitcoin two years ago or
whatever and now the amount of money
that it would have been worth is a lot
more was the decision wrong or was it
that the outcome
did not match the quality of the
decision and so let me explain let me
like unpack this
if you are going to change the way you
make decisions because a decision that
you made in the past that was probably a
good decision ended up bad
you have to apply the same decision
making context or framework to
everything else all right so let me
explain so if I say I’m now going to be
a Speculator right I’m going to be
someone who buys things with the hopes
of selling them later for more even
though the thing itself doesn’t have
more value right
if I choose to start making those types
of decisions then I have to think about
all the other Investments I would have
made and lost money on as a result of
that decision making framework and the
place that I heard this first was Ray
dalio in principle so he’s he’s one of
the richest men in the world an investor
as well he said one of the hardest
things is passing up on an opportunity
and then seeing it you know do really
really well right it’s like and but the
thing is is
I have to think to myself if I were to
use the decision making framework that
would have made that deal a winner then
I have to apply that same framework to
all of these other businesses or
situations that would have been losers
and my net net of having that different
decision making framework would
ultimately cause me to lose and so this
has been one of the most powerful
concepts for me as an entrepreneur
because what it does is it allows me to
separate the outcome from the quality of
the decision why was it that I did these
things right and I I can’t even tell you
like so for example
you know actually I Won’t Give me give
that one but like their their decisions
that I made when I was younger
that ended up being you know poor later
but when I thought back about why I made
the decision I would make the same
decision today so it’s not fair for me
to say well I wouldn’t have made the
same call now but you can’t use the
information that you have today to make
the decision that you would have made in
the past because then it means that you
were a different person because you’re
not using information that you have
access to right and so claiming that
this decision that I did in the past
that didn’t end up well you know working
out in my favor was the wrong call can
just be really poisonous and it may not
be true now if you make a mistake
because you had poor calculations and
you repeat the same mistake over and
over again then you should consider
looking at your decision making calculus
and see if you need to tweak some things
right but for me this has been one of
the hardest learned lessons and
emotionally one of the most trying
is looking at decisions I’ve made
looking at the outcome and being able to
separate was this a good decision
independent of the outcome and I’ll wrap
this up with just a quick example to
show you if you had a perfect baseball
swing right you’re just an amazing you
know batter right if someone gets up
there and they’re the best batter in the
world and you strike out
is it because their swing is horrible is
it because they they don’t have the
right decision making about how they
swing at pitches or how they pick the
pitches
probably not he’s probably really good
batter right because I just said he’s
the best but it still means he’s going
to strike out and it still means he’s
gonna he’s gonna get out and hit pop
flies and all that kind of stuff but
he’s going to be an amazing batter
with 300 you know a 350 average or
whatever and still two out of three
times he’s gonna strike out or basically
you know not get on base get out and so
when I think about that like you can be
the best at this thing and still only be
write a certain percentage of the time
right and so rather than that bad or
striking out once and saying I need to
change my swing and then getting back up
there and striking out again and be like
I need to change my swing and always
resetting the Baseline
instead being like I understand that if
I apply this swing to enough at bats
quite literally I will get the
opportunity to knock it out of the park
and Me Knocking out of the park on one
of these right decisions will ultimately
outweigh the negatives of the wrongs
that I have done rule number eight find
true happiness I think a lot of my
definitions have been defined by my
actions and so I am the person who has
done these things and I will do things
that will get me closer to the things
that I want to achieve
and so a lot of my definition of self
has always been based on evidence and so
I think it was harder for me in the
beginning because I didn’t have evidence
to support what I hope to be true about
myself which at the time wasn’t
and so and what did you hope to be true
that you could figure it out or was it
always a result that you Associated it
to I mean it was I want to make more
money than my dad you know I mean that
was that was the thing you know for me
and that was that was all I needed you
know what I mean I didn’t I didn’t have
there was I remember thinking
uh uh in college because I you know
you’re young in college and it’s like be
happy and all that stuff and I just
remember being like happiness and that
was like a moment for me I was like
happiness I don’t care about happiness I
want to do this why didn’t you care
about happiness that’s very
counterintuitive even now super
counterintuitive at that age yeah
um because I was obsessed with how not
happy I was and so so the things you
were doing that weren’t designed to make
you happy that’s what’s weird so I was I
was so obsessed with like positive
psychology and I was reading all these
stuff and watching these TED Talks I
remember the whole I remember this whole
period of My Life
um and I was constantly assessing my
mood as a determination whether I was
happy or not it became so obsessive that
I was just like all of this I was like
I’m just gonna douche and
that’s all I was like I’m just gonna
douche and hopefully it works out and
did you ever Define what works out means
if it isn’t happy less be less unhappy I
would say it was my my thought process
it’s which is like I’m just gonna do the
things and so I shifted from a lot of
introspection internal mood regulation
and thinking and stuff and I think a lot
of the reasons that I have the World
Views I have about you know emotions and
whatnot have come from this kind of
initial experience so it’s like I had
that and then I just started working and
then I found myself
actually looking up after you know a
decent period of time being like you
know I’m actually I haven’t thought
about happiness in a long time
and
I think I might be
and so I also don’t really like the word
happiness because it’s circumstantial
versus Joy but like I experienced Joy
significantly more now than I did than
when I was younger and I think it’s
partially because like you can be
mournful and enjoy but we’ll have to say
like so like if someone imagine someone
like it’s like an appreciation of The
Human Experience
like this is terrible but like even like
even in the suffering there’s Beauty in
that you know what I mean because it’s
purely human yeah and so I think it was
disconnected interesting that that it
matters to me as well but I’ve never had
to articulate it what what is the
connection to like The Human Experience
that is so
valuable that it’s joyful even in
mourning I think it’s just understanding
both sides of the coin I feel so like so
like if there’s a few things that I
believe it is that is that like
I right now they’re you know there’s
things in my life that I don’t like that
I wish were better and there are things
in my life that I really like and you
know 10 years ago it was the same way
and 10 years from now it’ll be the same
way and when I die there will be stuff
that I will not have accomplished that I
will wish I had there will be things
that I wish I had done better that I
will not have done and there will be
things that I have done that I am proud
of and so like those things are not
going to change and so if the only thing
I mean this sounds I hope and not overly
tried but it’s like all I can do is just
enjoy the game and it took me a really
long time to get there like it took me a
really long time to get there
um or at least it felt that way or at
least it felt like I suffered a lot on
that process
um which is why I have a heart for
people who are like dude I’m you know
I’m super sad I’m super depressed
whatever it is because I judge myself so
much on not being happy all the time
because I thought there was something
wrong with the fact that I wasn’t happy
that I drove myself insane not being
happy rather than just being like you
know what maybe I’m just gonna do the
stuff and just happiness for a minute
and so I think it’s like when we have
these uh like am I happy am I not happy
I think my my opinion is that you you
have to rise above it
so that you can just see you can feel
the Spectrum which is just being present
because I think again Alex is two cents
um have been around that long uh
if you are present you can you’re
present like most people aren’t present
ever and so it’s like if I can just be
present even in my suffering I’m there
right then I can experience joy for
being human and having this experience
that I only get once and
the biggest frame shift that I’ve had in
terms of my experience of living has
been it’s it sounds it sounds weird but
it’s
something I’ll call the grandfather
frame which is I learned how to become
apathetic right because that that took
that took me time to stop feeling pain
rule number nine transfer skills once
you cross like getting from a million to
three million is very difficult
um because you have to learn an entirely
new skill set which is like you have to
hire your first team right and that’s
that’s very difficult for a lot of
people
um you know three to ten is difficult
because you have to unlearn the thing
that made you successful up to this
point which is you’re focusing on front
end rather than on product and back end
and so that becomes it’s very difficult
it’s like it’s like spiritually
difficult at that point you know what I
mean once you’re at three to ten you’re
already out of the like I have to work I
have to cry my face off in terms of like
hours in because at some point the
amount of work that has to get done
surpasses your ability to work which
means you have to work through other
people
um you know at 10 million the difficulty
is you have to give up even more control
and so at each of these levels you’re
giving up different types of control you
know in the beginning you’re giving up
control of fulfillment
um the next level you’re giving up
control of sales then you’re giving up
control of you know finances things like
that then you’re giving up control of of
marketing and you’re giving up control
of managing all those things then you’re
giving up control of leading you know
the company uh and so on and so forth so
like there’s always this relinquishing
of control which is I would say
spiritually very difficult and it’s easy
to say very hard to do and that’s what
we look for in the portfolio companies
that we’re thinking about taking on we
look at the CEOs and we’re like do I
think this person has the humility to
give up control when it is required and
Rule Number 10 the last one before some
very special bonus Clips is live with
gratitude recently I’ve been trying to
toy you with one that would create
gratitude there’s a clip that went
pretty viral not that long ago it’s also
my number one tweet of all time which is
when I was 20 I wanted to be a
millionaire now that I’m a millionaire I
want to be 20. when I’m 85 years old and
in my mind I imagine I will be a
multi-billionaire at that point I know
that I would give up everything that I
have of material wealth just to be poor
and 20 again I call this the frame of
the grandfather or the grandfather frame
and it works like this if you’ve ever
looked at pictures from your past and
you look at where you grew up or you
look at you know your old room or you
look at a picture of you with old
friends doing something we tend to feel
these feelings of nostalgia and I try to
quantify like what is Nostalgia so to me
Nostalgia is gratitude in the present
for past circumstances for whatever
reason we’re able to kind of look past
all of the kind of minutia of how we
were feeling our moods and we’re able to
kind of like see big picture the things
that we are grateful for take a pause
here I’m sure all of us have tons of
childhood and things that we wish were
different and blah blah blah blah but
there are still elements of our past our
childhood are adolescents our teenage
years our college Years whatever it is
right where you feel grateful some of
you guys are superstars and are always
grateful for everything and I’m you know
I’m Jelly I don’t roll that way it’s not
like I wake up and I’m like man I just
want to count my lucky stars like I just
don’t that’s just not how I function and
I’ve been trying this on and I I hope
you do too because it’s been it’s been
really like improving my life I tried to
do this I wake up thinking to myself if
I were 85 years old and I got to go
through a time machine and be back in my
body as I am now to experience my life
from my 85 year old self seeing it again
if I wake up and I feel my body and I’m
like oh
this is so nice I don’t have all the
joint pain ah my wrists don’t have
arthritis and then I wake up and I’m
like I remember when we used to live
here even when I looked at Layla this
morning I was thinking to myself man
like this is my wife right at the
beginning of our marriage you know we’re
only six years in we wake up and we walk
over to you know to have our coffee in
the morning which we always do and I’m
like isn’t this so nice I remember when
we used to have coffee here together
this is great and I look out the window
look how young Vegas looks it doesn’t
have all these buildings and these
flying cars like it does now it’s it’s
so underdeveloped compared to what it is
today and I feel gratitude for an
external just environment which I would
never really think that but I know that
my 85 year old self will totally
appreciate those things and as I’m going
through the day applying that frame also
to business where I can see the you know
the CEOs of our companies and the people
that work within our holding company at
acquisition.com they’re stressed about
things and in my mind I’m thinking oh
isn’t this cool that we get to do this
together isn’t that fun isn’t that neat
look how cute that is it is the most
powerful frame that I’ve encountered I
think the reason it’s so powerful is one
it operates almost in entirely from a
frame of gratitude that for me I can
feel for whatever reason gratitude
journals the meditations things like
that like I don’t feel that but thinking
about my 85 year old self being able to
re-experience life through my 32 year
old body it’s really shifted how I see
things and also decreases the amount of
anxiety and stress I have over outcomes
because I’m like this isn’t going to
matter in the long run I also think it
helps from a business the term loosely
but like a business wisdom perspective
because when you think about the
decisions you think about it within the
larger context of your life and you’re
not like oh yeah I’m going to make that
short-term dollars because you’re like
I’m 85. I don’t have anything to prove
you know what I mean if you think about
like the really stressful things you’ve
had happen in your past I feel Nostalgia
for the sleeping on the floor that I did
at my gyms for how tired I used to be at
the end of the day of taking 20 plus
consoles for months and months and
months on end and rather than feeling
stressed about it or resenting the fact
that I have to do it like I get to do
this I get to make videos talking to a
camera look at my 32 year old self-go
trying to make his content trying to
help other entrepreneurs like Isn’t that
cool if I had to characterize seasons of
my life I would say I was very angry as
a teenager and young adult and then I
went from Angry to being aware of the
deficit between where I was and what I
considered to be happiness from there I
kind of switched to what I have
affectionately called the happiness
Mantra which I lived for a very long
period of time which was I stopped
trying to optimize for happiness at all
and just really stopped thinking about
it altogether which I think moved me
closer to something that I would
consider to be Joy you can be joyful
independent of circumstance because Joy
is from within happiness tends to come
from external right it comes from
circumstance and I think when we look at
the grandparents or at least the people
that are older that I aspire to be is
like they just have an internal Joy they
have gratitude for being able to live it
one last time because the end of the day
like
it is our last time
how do we behave the reason that this is
so important is that it’s one thing to
know where you’re going but it’s another
thing to know how you’re going to get
there and so this is just as true in
business Partnerships and marriage in
terms of what you want uh to have happen
and how you want to get there um as it
is in business okay and so what I want
to do is actually just walk you through
the three values that we have at
acquisition.com and why we believe them
and so from an overarching perspective
the way to come to values um is to look
at what are the non-negotiables okay and
so what I mean by that is and every
company is different because the core
thing about values is that they have to
be things that are true and innate to
you right like for example at Southwest
uh have fun is one of their core values
and if someone does not want to have fun
or does not believe in the processes
that they do to have a good time then
that is a non-negotiable for them that
person cannot work at that company it is
a fireable offense and so these are not
aspirational these are not things that
you would like to have these are things
that are core to who you are as a person
and as a team all right and so when you
decide on these non-negotiables they are
by their very nature non-negotiable
which means that you hire based on these
you Fire based on these and these are
the core Spirit of the team and some of
the mistakes that I see when people make
values is that one they don’t draw the
line in the sand and it’s one of the
core things about a value is that it has
to you have to be able to say this is
not this right you have to be able to
say okay between Justice and mercy we
lean towards Justice or we lean towards
Mercy which means you have to repel
people with your values all right and so
if your values do not repel people then
they are not values they are platitudes
okay and so it’s very important the next
thing is that when you’re making your
values the values themselves need to be
ideally said in words that you would
normally say so if you have little
sayings inside of your community then
then a lot of times those can become
some of the values you have so for
example Jim launched one of our first
portfolio companies uh speed is King do
the boring work these were different
ways I mean we could just say work ethic
but that’s not the way we would have
said it we could have said be fast or
fast turnaround times but speed is King
was the way we would have said it okay
and so some of the things that I’ve
learned with this is also you cannot
have too many values as in I’ll say it
differently you can have too many values
you have to be very selective at the the
true core values of the company all
right and so if you’re you know between
two a lot of times you just have to
chunk up uh and kind of get a broader
value but they become the core and I
think that what we have found is that
three is The Sweet Spot and that number
is continued to distill down over time
but I think three is the amount that
your human brain can comprehend as
lenses to make a decision right and the
reason these values are so important is
that when you scale the company you have
to scale decision making which means you
have to scale the frame with which you
duplicate the decision-making process
which is should I hire this person even
though Alex is not involved in this do
they align with the core values and the
more string values the easier it is to
have a black and white example of I
think this person means two out of the
three or one out of three but we only
accept three out of three and I will
tell you this as an additional point if
you have core values in the business I
would relay them to all aspects of your
life if you would not do business with
someone for a decade do not do business
with them for a day it’s one of the
nabalisms that I like a lot and so if
you wouldn’t if you don’t want to deal
with this client for a decade don’t deal
with them for a day if you wouldn’t deal
with this employee for a decade don’t
deal with them for a day you have to and
and the extent to which you hold your
line of intolerance around these truly
non-negotiables will dictate the health
of the organization and if you make
these non-negotiables and realize that
there are people in your organization in
your client base that do not ascribe to
these then you must make the changes to
fix it and that is the pruning of the
tree that will ultimately grow the tree
alright these are the short-term pains
for the long-term gains there are a lot
of different things that come up in the
business world where I will see people
conflate or mistake what thing they are
solving right and most times when I’m
talking to a newer entrepreneur or even
a more established entrepreneur and they
reach out for help or guidance or
whatever right or it’s one of our
portfolio companies most times they’ll
start talking right really fast about
all this stuff to try and provide
context and I’ll just usually pause them
and be like what problem are we solving
it usually gets them to stop right and I
would I would highly advise you if
you’re if you’re dealing with if you
have subordinates or you have direct
reports uh who roll into you and they
have a whole bunch of decisions a lot of
times it can get caught and sometimes
ourselves too we can get caught in the
in the day-to-day the minutia and just
simply pause and say what problem are we
solving there’s so many pieces of this
that I want to unpack that I think are
going to be really interesting for you
but the first one is when you define
what problems you are solving you might
even have to ask the question is that a
problem when some people are like well
hey we’re getting you know customer
service complaints it’s like okay
understood
is this something that we believe that
we can reasonably eliminate is this
something that is catastrophic to the
business or is this something that we
can kind of try and improve over time
you know through systems and process
right and so a lot of times people
misprioritize problems because they
perceive them as as threats to existence
when in reality they are a course of
doing business and things that be can
constantly improve right especially if
you’re newer you’re starting out of
course your product’s not going to be
perfect yet right you’re just getting
going
but you improve these things rather than
thinking I have to stop everything to
fix this problem right and so the first
frame shift is that most people think in
terms of like I have a problem to solve
rather than a dichotomy to be managed as
in these are two things that will always
exist all right I’ll give you a
different example of this
um actually this will be a fun one the
reason we will probably never have
people who are all happy about a tax
code is because you cannot have both
fairness and equality equality means
everyone pays 10 percent fairness means
the rich people pay more than the poor
people that’s fair this is equal both
are ideals and yet somehow they’re not
the same thing and yet both are right
and so because of that we will always
have this conflict it’s the same thing
between Justice and mercy both of them
are ideals both of them are right and
yet somehow they’re conflicting and so
we we see these situations and this is
why I’m trying to hopefully give this to
you because the more I started to
recognize these patterns the more
quickly I can recognize them and then
identify by them and then either dismiss
them or say oh it’s another one of those
right it’s a pattern recognition it’s
like oh you guys are spending all this
effort trying to solve a problem that is
unsolvable this is a dichotomy that must
be managed and will never be eliminated
and so I think what my goal with this
video is if I can help you get out of
these little mental hamster wheels uh
it’s been incredibly valuable for me all
right so that’s the dichotomy that’s
like one of the one of the things that
people will mistake they’ll mistake a
dichotomy for a problem that needs to be
solved all right another framework
um that that I find immensely valuable
is the concept of of a Continuum versus
a binary all right this is probably one
of the biggest mental errors that people
make when they’re trying to identify
things and this is what I mean by that
so for example I might say I’ll use a
weight loss example so people will say
something like uh I am off my diet or
I’m on my diet right it’s a very simple
thing and that’s because psychologically
we like to be binary we like to label
things as you yes or no but biology and
reality exist on continuums as in to
what extent did you go off of your diet
right did you go 200 calories average
you go 500 calories over and as even
though it is quote more difficult to
think in this way it is also more
accurate and so our brain uses binaries
as placeholders for decision making to
store data right when in reality when
you start storing all these binary
decisions they start adding up and you
start getting more and more unaccurate
if that’s a word on your decision-making
process because you’re actually basing
your decisions not on facts but based on
binary shorthand that your brain saves
and so that is one of the biggest
mistakes that I see all the time in
thinking in entrepreneurs and really in
anything in general because we like to
have that shorthand it is easier right
it’s easier to say I fell off my diet or
I am diabetic when the reality is it’s
not whether you are diabetic it’s how
diabetic are you right kind of
interesting I stole that from Dr cashier
but I just love that um who’s my closest
friend he’s a biochemist and we talk
about this stuff all the time point
being if you can think about this within
I’ll give you I’ll give you a business
example so if we have a a binary where
people are saying yes or no which is
let’s say Facebook doesn’t work
marketing doesn’t work I hear these
statements all the time and you may
laugh at this right but I get DMs like
this all the time Facebook doesn’t work
for me marketing doesn’t work for me
like you can’t sell this way in my
business right and so people want to
shorten a problem into yes it works no
it doesn’t work when so much of business
and problem solving is understanding the
Nuance between where we’re starting and
where we’re going and it’s to what
extent
has Facebook not worked right where is
the fall off right it is not that it
doesn’t work it is just we only got it
to work this percent right now we need
to get all the way over the hump to get
there but it’s to what extent and I
think that when I when if you if you can
ask the right questions if you can see
the problems as they truly are they
become far more solvable and so this has
been probably I just gave you two of my
my best frames that I think with all the
time all right so I’ll say these again
so the first uh mental lapse I’ll say
that I see all the time
is mistaking a dichotomy that needs to
be managed for a problem that needs to
be solved people do this in their
marriages as well right so you look at
your wife right you look at your wife
and you’re like I need more variety
right but later you’re like I need more
consistency and you’re like we have to
figure this out we need variety we need
consistency it’s like yes you need both
right and so it’s not a problem to be
solved it’s a dichotomy to be managed I
would say there are days that I feel
like less energized or things like that
for sure not about like the big picture
of like I don’t believe that this cause
is not worthy but I do think a lot of
people have that too where they’re like
what I’m doing is meaningless right and
then I get into I think everything’s
meaningless and then we can just create
whatever meaning you know we choose to
because if we don’t believe in a capital
M meaning which a lot of people disagree
with that’s fine but if you don’t
believe in a capital N meaning I think
that’s very freeing because then you can
create Little M meaning for whatever you
want and so if you believe you can then
choose to architect your own life in
whatever ways that you deem meaningful
and make the activities you do aligned
with that meeting the difference in
capital M meaning and Little M meaning
and this is kind of like the basis of
nihilism which people have like a very
negative Viewpoint around which I’m not
entirely sure about why but like Capital
I’m meeting means that like this is the
meaning of life period like for everyone
this is the meaning of life whereas if
we say that there is no single agreed
upon meaning of life and then people say
well then that is your big meaning of
life and I’m like yes you’re right I
believe that there is no meaning that is
the meaning that I that I believe and
they’re like well then that is the
capital then sure that’s my capital A
meaning is that there is no meaning
what’s the implication of that it means
now that we have meaning making machines
in our brain and so we get to create and
Destroy meaning as we see fat and so if
we choose an activity and we deem that
goal meaningful because we think it’s
more interesting or it energizes us then
we can ascribe meaning to that and do
more of it and what’s nice about not
having capital M meaning is that that
can shift right that might be good for a
season and then it can shift I will say
that the downside of not having capital
M meaning which I consider to be
religion off the shelf is that it’s more
difficult because you have no one who’s
saying here’s the big box of rules you
can read it and then that way you don’t
have to make the decisions about it but
I think it’s more difficult but and
ultimately more rewarding if you have
reasoning behind why you believe what
you believe because then you have to
independently come up with your own
conclusions about those things it also
makes it malleable so that if you get
new data or new evidence then you can
change your mind which a lot of people
again have difficulty with but like if
you change the information then it would
make sense that if it materially changes
the outcome that the way that you
believe about something should change
and I think a lot of people will
identify with their beliefs as a part of
themselves rather than as what I prefer
to call them which is assumptions
because they work the same way what’s
the difference in belief and assumption
not a lot right the only difference is
just what we call the word and so
assumptions are based on things that
we’ve observed and then we assume
something as a result and so I would say
that beliefs are just assumptions and
but when you call them that they become
less tied to your identity if you have
an assumption you don’t say you
challenged my assumption it’s like well
yeah it challenged my assumption Ah
that’s great I I was assuming this it
must be this and then they become much
more flexible and then we don’t tie our
egos into them and I think ultimately it
serves more people better in the long
run why are you trying to change
people’s perception of you when you can
just change who you are and let their
perceptions catch up the only way you’re
going to change your reputation is by
being different he’s like you need to
stop being this person that does all
these things and your reputation will
catch up and even if it doesn’t you’ll
always know and honestly it barely
scraps the surface because my ego was so
high and I was like no I just have to
think of a better way to like Market
myself but I ended up knowing that he
was very serious about the threat of
pulling me out of school if I didn’t get
my grades up and so what I ended up
doing for the next half of the semester
of my first semester freshman year is I
didn’t go out at all I didn’t drink
anymore I really didn’t like hang out
with girls at all and all I did was
study and I was able to pull my might
have been one two it was very low up to
a 3.2 for the semester which basically
meant I got an A on everything from that
point for the rest of the semester and
so when I went back home he was like
well now you know you can do it and so
we should always expect that that is
what you’re going to get from here on
out and it also kind of proved it to
myself too I was like I guess I can do
this and you know what happened is after
I started switching that way
people still thought of me as a
and I still had to deal with that it
took like two years to really reverse
the reputation that I had acquired in
the first three months I think during
that period of time I grew an
appreciation for how easy it is
especially in First Impressions to set
the wrong one and how hard it is to
overcome a negative impression and my
reputation overall the realization I had
was there’s too many people that you’re
interacting with in the world to try and
curate reputation
the only way to change your reputation
is to change who you are reputation is
fundamentally just what people say about
you to your face and behind your back
I’m not saying that you need to care
about what everyone else thinks that’s
not really the point of this it’s much
more if one person says you’re an
whatever if every person you
know says you’re an like you
might be an and so if you have
one of those situations where you feel
like the proof or the evidence is
overwhelming and you might even believe
it then it’s probably you I think that
for me getting out of the hole like I
can control this and try and curate what
people think about me and transitioning
to be like at the end of the day I’m the
only person who knows who I am and I
don’t like who I am and just saying like
well how can I get to a point where I
would like me even if everyone else
hated me how can I like me when I
started operating from that place it
really changed my life because then I
started thinking like what version of me
do I want to be and what does that guy
do well that guy studies really hard and
that guy works out really hard and that
guy’s a really good friend he’s always
respectful doesn’t have an ego and it
took me a long time and I still work on
this stuff you know I mean I’m not
saying I’m done by any any sorts of
imagination but but I think that if you
can simply shift the perspective of like
I’m going to try and appear this way to
like I want to be this way if it just so
happens to get captured great and if it
doesn’t great and there’s this this
quote by Eric that I’m probably gonna
butcher but he says if you need someone
else to tell you something about
yourself you are out of Integrity
because you can always be your own
witness I think that that’s a great
point to wrap the this little video
Lesson up with because that piece
strikes to the core of everything which
is we are our own Witnesses and if we
want to change our reputation we need to
change a reputation with ourselves first
and then eventually it will reflect in
the world we think that for some reason
we are doing something wrong when we are
not self-caring because it is bad too
not self-care because we should we must
or else or what and the reason this
pisses me off the reason that I made a
tweet that went viral this morning about
this is that weekends are new for humans
they’re not even 100 hundred years old
1929 in England is when the first
weekend got passed by a union and it’s
because people hated what they were
doing for their life and so if you want
to truly give self-care then stop hating
what you do every day novel concept I
know stop hanging out with people that
suck mind-blowing like I said I know and
the reason that I am so passionate about
this is that I have been told throughout
my entire life that I was working too
much I was not balancing the things that
I was supposed to be balancing and you
know what who gives it’s my life I don’t
need to live by anyone else’s rules and
neither do you right and so when people
say you should be doing this you are not
doing XYZ just take a pause and be like
are these rules that I want to listen to
are those your rules that you’re trying
to apply to my life because there are no
rules you can do whatever the hell you
want if you want to work for a year
straight work for a year straight and
the reason you can work for a year
straight is because you like what you do
the reason these people try and project
their own self-hatred for their own
lives on to use because because they
cannot imagine a world in which someone
might actually like what they do every
day and didn’t don’t need an escape a
break from what their existence is on a
daily basis and so don’t feel guilty for
just being you and if you don’t like
your life every day rather than try and
figure out and make time for self-care
it would probably be better to flip the
ratio and start thinking what can I do
in my actual life to stop hating it so
much that I need an escape from it right
and that’s different from like yes you
need to sleep yes you need to you know
rest Etc but there’s a difference
between that and like I just need a
total spa day and if that’s how you
relax cool but the thing is is
projecting on someone else how they
should must need to have to relax or do
whatever it’s nonsensical it doesn’t
exist right I wanted to make this video
even though it’s short because I it just
drives me bananas if you want to work
work if you want to take off take off
just don’t listen to what anyone else
says about what you should do for your
life you’re going to die and so will
they and it’s not going to matter and 10
Generations don’t even remember your
name so do what you want you’re going to
die and that is the ultimate freedom and
for some reason we live under these
chains that we think exists but don’t
and so I think the process of of growing
and really making ourselves free is just
simply identifying the things that don’t
really exist and only existed in our
mind to begin with and I think that’s
why self-creator really bugs the
out of me or this whole self-care
movement it’s also soft as like
just work right to get it done you need
to like give yourself a bubble bath
every day because like your work’s so
hard like humans been here a very long
time we’ve dealt with much much harder
your you know boss having a deadline the
next day is not the worst that you’ve
been through and so as a final sign off
on this think about the hardest things
that you have been through in your life
everyone has gone through hardship
everyone has had difficulties in
childhood everyone has had difficulties
with siblings with parents blah blah
blah blah these events that shape Our
Lives you have been through harder than
this you will survive it will be okay
you don’t need to self-care you don’t
need to listen to what anyone else is
saying you do you and if that means
self-care by all means just don’t
projects on anyone else I think that the
whole ego death concept that we were
talking about the very beginning I try
not to talk about this too much because
I think it’s it’s um a lot of people
find take offense to it and I don’t mean
it that way I sure this is just what
worked for me and not as a criticism of
any anyone else’s beliefs for me the
idea that there was no such thing as
Legacy that when I died eventually
everything that I had would become dust
and that anything expanded over a long
enough time Horizon disappears right
which if you are like Christian for
example it’s the whole book of
Ecclesiastes
um
if you and I think the realization of
that allowed me to quiet my ego a lot
so that I could be more present in the
idea that like this moment will only be
here in my mind and anything that I do
here will not last and so
it shifted how I worked it shifted how I
saw relationships and a lot of my
thinking is around like my 85 year old
self I feel like my number one Mentor is
like my fictitious 85 year old self
because it’s the only person that I
really believe has my best interest at
heart and it’s no ulterior motive and so
there’s this this tweet that I had that
went pretty viral but it was like
listening to a billionaire or a
millionaire I’ll just use that like when
I was in my 20s I wanted to be a
millionaire and when I was a millionaire
I wanted to be in my 20s
and so the idea that my future self
would trade all the money he had to be
poor in 20 again made me really
reanalyze how I saw living life in the
moment if I literally in the future will
value my present moment more than the
achievement of the thing that I’m I’m
seeking right now in the present
then something’s something’s off because
even my future self knows that because
right now I would pay all the money I
have to get 10 years back it’s not even
thinking about it and so then all of
what I’m going to achieve in the next 10
years I would happily give up to be
right where I am right now
and so I think thinking about that
really shifted a lot for me because it
helped me quiet I’m not saying eliminate
but quiet some of the thoughts that are
more ego driven because the ego always
wants to like separate and isolate from
others and prove that it’s better and if
I know that it will all be dust there is
no better because we’re all going to be
destined so in that same way if like if
we’re all going to be Dustin we’re all
siblings
like two very strong frames for me at
least it helped me quiet that aspect and
I think in that way I was able I think
you can ask my people but like I think I
was able to show up better as a leader
there’s been able to show up better as a
husband
um so I better like to make content
things like that like I don’t think I
could have made the stuff we make now
five years ago because I still think it
would have been more it would have been
to proving something yes perfect 100 of
improving proving someone proving a
fictitious foe wrong
right right they’re all talking about
right no one cares about you exactly and
so that was really and it’s like I had
to shift from like no one cares about
you to
like
I really want to have a shirt that says
no lives matter but I feel like
no one cares about you yeah yeah but I
feel but I think there’s like a lot of
like meat to that where it’s like if we
can because in that way we are all equal
and so it’s I think it’s almost the most
egalitarian perspective is that like in
the end we will all be dust yeah and so
I think in that way that’s like we have
these exchanges that we have
um and in some ways it makes it more
beautiful I say this because all of us
right I do this I do this all the time
right and this is going to be a repeated
theme because it needs to be repeated
right we need to be reminded more than
we need to be taught that is a saying
that we have in my world and I will I
will pass that on to you guys MOSI
Nation we need to be reminded more than
we need to be taught do the boring work
repeat successful actions and so
if he’s gotten to this point or if
you’ve gotten to a point in your
business and it has plateaued the
question is has it plateaued because
this is true like I have the only reason
a business should Plateau that is
reasonable that is not your fault is
that you have reached the total
addressable Market as in you have
saturated the total the total Market of
that thing so for example if you were
selling dog food and every dog within
this time you know maybe you saw a
specific type of niche of poodle food
right you’ve gotten you know 70 of
poodle owners to buy your food and you
can’t grow anymore beyond that right
well that would be reasonable but then
you’d obviously just do a different type
of dog right you’d you’d hop verticals
right so there’s not even a reason but
it would be the only potentially
rational reason
um would be uh that your Market uh has
changed so a different example is a
friend of mine owns a company that does
uh newspaper advertising right so they
actually help newspapers translate their
advertisements into digital products
which is pretty cool so they are able to
sell a whole like basically a whole new
ad product to small businesses um who
want to buy ads right which is by the
way how newspapers make money he could
not grow his business because newspapers
have shrunk by 25 year over year which
is 25 compounding the wrong direction
and he’s been in that business for like
10 years so now the market size is like
literally like five percent of what it
used to be 10 years ago and so as a
result of that he was growing at an
inverse rate to the shrinkage of the
industry right and so he got to a point
where he couldn’t grow anymore than just
basically servicing the ones that are
still alive and then as they fell so did
his business right and so that is the
only logical reason that a business can
Plateau that is not in your control and
unless you’re selling new newspapers
which are probably not the reason is
much simpler which is you just don’t
know how and I’ll tell you a different
story that I had and then I’ll I’ll I’ll
wrap this up at the end so I was having
a different conversation with a woman
who was doing I think four million
dollars a year and she was selling uh
info products that were weight loss like
weight loss info products so like
programs and ebooks and things like that
which is cool right she’s a big
following all that kind of stuff and we
got I went I did a podcast with her and
uh after we got off the podcast she was
like yeah so these are my plans I’m
going to be doing like an apparel line
and a supplement line and uh cream line
and whatever right and I just kind of
sat there and I was like well I think
that’s a terrible idea she was like she
just looked at me across there she’s
like what I was like yeah I think it’s a
terrible idea and she was like oh and I
was like why don’t you just take the
thing that’s making you four million
dollars and make it make you 10 million
dollars
where you do that
and the and the answer is the same as
the first answer I just don’t know how
and I was like right well why don’t we
solve that problem
and then not create a new business why
don’t we just put all of our effort in
solving that problem and so I’m a big
believer and this is the the piece that
I want to share with you mosination is
that I’m a big believer in the theory of
constraints which means that a system
will grow until it is constrained right
it has a constraint and then once you
remove the constraint it’ll continue to
grow right until it reaches another
constraint and so
most people are always curious are many
people ask me hey Alex how did you
achieve quote so much in quote such
little time or at such a young age and I
say all that in quotes because so much
could be and young age whatever but I’m
saying I’m just I’m paraphrasing all
right and I think that
um one of the things that we have done
well is prioritizing what problems to
solve
and that is understanding the
prioritization of problems and realizing
that there is really only typically one
or two things that are constraining our
growth and by definition there’d really
only be one thing that’s the constraint
until we reach another thing that might
be beginning to constrain us but isn’t
the true constraint yet I’ve said this
quote many times in our communities and
on this channel which is you must
outwork yourself down right if you feel
like you are not confident then you must
outwork the things that you’re insecure
about if you’re like man I’m selling
these services and I’m not sure I’m not
sure if I’m that good at them then do
more of them and don’t pretend honesty
is one of the most compelling and
convicting things for persuading people
right saying what you are good at and
what you are not good at truthfully will
we knew far more followers and fans and
and loyal customers and loyal employees
than pretending because the end of the
day they can feel that you are
disingenuous because they know that is
hollow they know on the inside you do
not believe the words that are coming
out of your mouth and that is how people
speak without conviction and they cannot
sway others because they have not swayed
themselves because they have lost their
own respect and so I am not the believer
in buying the Ferrari when you can’t
afford it I am not the believer in in
affording the home and paying for the
home
that you cannot afford because you want
to pretend like this is the lifestyle
that you want to be around if you go
into the guise of networking you can
still go to those places without buying
a four million dollar house when you
you’re barely making you know a few
hundred thousand dollars it doesn’t make
sense I like Jay-Z’s quote around this
which is if you can’t buy something
twice don’t buy it once I really like
that and so
this is one of the most common questions
I get for newer entrepreneurs because
they think that they have to they have
to they have to pose on Instagram in
order to get to to get wealthy and what
it does is it conflates sequence Jeff
Bezos is famous because of what he did
not because he became famous as Jeff
Bezos and then used his following to
build something Elon Musk is famous for
what he’s accomplished not for being
Elon Musk and then creating something as
a result right let the actions be the
thing that gives you the fame rather
than yourself right at least that is
that is Alex’s two cents in my viewpoint
in the world and I think most of Mosey
Nation you guys uh share that belief
with me and for those of you who are new
to this channel
um you’re going to get more of this type
of stuff uh and none of the fake until
you make it nonsense that is a sure way
uh to be broke and I will tell you this
as a last thing
the amount of people who in 2008 when
everything crashed who were faking it
until they quote made it
just faked it until they lost it all
because they lost what little amount
that they had because they were so
overextended but I can tell you that
just about everyone can become wealthy
if you choose to live on Lower unless
than you make right and that is a ratio
wealth is a ratio not a number all right
and so anywho uh if you are having
struggles with this question I would
pause it I would I would beg of you that
you build your own respect first that
you’re honest with yourself first and if
you always maintain the Integrity of hey
last year we we got smashed right this
year we’ll do a little bit better and
two years from now when you do even
better than that you can be truthful and
people will believe you but if you
always are telling a story about how
you’re always doing so well hey everyone
will hate you B no one cares and C you
will know that you are full of it and at
the end of the day I think that is the
only thing that we’re going to keep with
us and when we die once everyone’s going
to forget about us anyways so you might
as well at least enjoy yourself while
you’re alive
V is having the the desire
for something that someone else has that
you do not have so you’re lacking and
someone else has something that you want
and do not have that is Envy jealousy is
when you have a threat that someone is
going to take something that you have
that they do not have all right and so
for example I’ll give you an example of
each so Envy I may be envious of a
friend of mine so um I was actually
talking to a good friend of mine who
owns a big weight loss company and right
now he’s doing better than I am and now
I am envious of his success I am I can
feel it I’m envious I got off the phone
I was like I’m envious of you right
on the flip side if someone comes to
talk to Layla right it is the fact that
they pose the threat of taking attention
or her attention that I think should
continuously belong to me that I would
feel jealous over I haven’t had I
haven’t felt jealousy in a long time but
that is that is an example it could also
be like with your kids if you have some
you know some other adult in their life
starts taking their attention or has
more influence over them you are jealous
of the influence that that person is now
is threatening your influence over your
child right so two examples they’re
nuanced but I think it’s important and
when I was talking to Nick barely about
this I was talking about how I think
Envy um gets a bad rap and I’m not going
to go into the spiritual religious side
of this or even the happiness side of
this because I think Envy absolutely
does not make you happy
but I do think that Envy will make you
successful all right and so this this is
where I want to kind of dive into this
Envy is adaptive right as human beings
this is actually from our old brain
right this is animals have this too they
are envious of one another and it’s
because if in a group one person or one
being one animal whatever brings more to
the table you are now envious of that
person and what it does is it elevates
the rest of the group to go and achieve
the same which is good for the
collective not happier for each of the
individuals but is a pro survival tool
right and so for me understanding this
and at least being able to name the
emotion rather than saying I don’t like
this guy or I’m angry at this person or
having this negative feeling that you
cannot put words to instead being able
to say I am envious has been very
relieving for me because now I can
actually tell those people hey I’m
envious of you and for some reason I
think it just creates another level of
Candor because it’s a certain level of
vulnerability and saying you have
something that I wish I had but then
you’ll notice that the conversation is
not defensive on that person’s part most
of the time they’re like well I’m let me
help you and it’s only when we guys our
intentions or trying are trying to feign
you know pretend to be a different way
than we are where people also can sense
that you’re being disingenuous like
great job man right when realized deep
down and they can tell from your your
subtle tonality changes and the way you
look that the um that you’re actually
not happy for them right and so I think
if you can at least say it then it
actually gives you power now
in terms of judging your motivations
because obviously you might think that
Envy is a bad uh motivation
it is my belief that I would rather deal
with people who do good things for bad
reasons than bad reasons for good things
um or I said the same thing twice but uh
they do the right thing for the wrong
reasons rather than the wrong things for
the right reason all right I’d rather
someone who does the right outcome and
he gave me an example that was really
powerful he said a friend of his was a
top Navy SEAL
and uh you know one of the best Navy
Seals he trains Navy Seals just a total
badass right and before that he was an
EMT
and he talked about his experiences
being an EMT is that most people think
you know EMTs have to be really caring
that you want them to you know they have
to save these people’s lives every day
and he said uh the Navy SEAL was saying
I was not compassionate at all I didn’t
really care that much about the person
who was on the table in front of me but
what I did care about was my stats I
cared about the status of being the best
I wanted to have the fastest to the
hospital I want to have the highest
survival rates highest success rates of
the people that were under my care
because I cared about myself being the
best and so the question is
if you were the person who was on the
table having a heart attack would you
rather have the compassionate EMT or
would you rather have the
self-interested EMT who is doing it for
status well if it were me I’d rather
have the guy who wanted to Pride himself
on being the best in the world and
didn’t even care about me at all because
I knew his result was going to be more
Pro me than the other persons and so I
think that as as humans as entrepreneurs
we judge ourselves a lot on our
motivations and our in our intentions
but I think that if we can take a step
back and a name the emotion so that it’s
not this amorphous thing that we can
understand but then take the next step
and say is this is this a pro adaptive
emotion is this something that’s going
to help me or is this an emotion that’s
going to drive me to do something that
is negative and I think at least even
even in naming that we can increase the
time between emotion and action and the
further that time Gap is in general
the better the quality of the decisions
we make because the more rational we are
we’re never completely rational because
we’re we’re emotion driven beings and we
have limbic systems that override things
but the more we can decrease the
triggers of the emotional triggers that
that cause us to make bad decisions
ultimately the better decision we make
and so
I I say all this to say big picture
first naming the emotions is important
second it creates space so we can make
better decisions third we can analyze
those decisions and say is this
something that is going to help me in my
life or is this something that’s going
to hurt me and then as a result of this
we don’t have to judge ourselves as
strongly on why we are doing things and
rather what is being done because
candidly I am a very envious individual
and maybe this is me just
um
rationalizing my own negative you know
emotions who knows but at least for me
saying it that way and framing the
thought process in that way has helped
me feel uh better about myself and just
not or really just less bad if that’s
probably a better way of saying it and
not constantly berating myself for
having desires that I think are wrong
and so uh Dan Sullivan said this and
I’ll end with this is that
when people want something if you want
to make more money if you want to have a
bigger house you want to have a bigger
car you want to build a podcast Studio
whatever right
he said wanting is reason enough
because so many times we ask but why do
we want that
we’re probably not going to change the
desire
and so letting us letting ourselves
desire things and giving ourselves
permission to desire things uh and
myself specifically has been incredibly
freeing and what it’s done is given me a
tremendous amount of my attention back
that used to be allocated to analyzing
why I’m feeling this way or why this is
right or why this is wrong and instead
accepting the fact that I want something
and that wanting it is okay as long as
it is not something that is hurting
other people and that it’s not something
that is hurting me most people most
Champions do not have something that you
do not have they lack something that you
have or a champion in the Physical Realm
a lot of times it’s they don’t have an
off switch they just keep going you have
an off switch their lack of it which is
what drives their success and so to the
same degree you probably do things every
single day that you should not be doing
and so what I want to introduce to you
is a concept of the anti-routine as the
most productive routine that is humanly
possible for you to accomplish what you
want so number one is obviously just
shifting the perspective I need to do
more things and I need to add more
things to my routine when in fact you
need to stop doing things that you’re
currently doing all that remains is the
work to be done and then you become very
clear about why you are not being
affected so number one is that
priorities mean two things cannot be
equally important and here’s the
mentally challenging thing about this is
that when you work on something and
let’s say I spend 30 minutes on this
thing and I spend 30 minutes on Item B
if I spend 30 minutes on both things and
I say this one’s more important than
this one I can say that but that’s not
reality because I basically just said
they were both important which means
neither of them are which is why most
people cannot get done because they
cannot say no a lot of people don’t need
a new things to add to the routine you
need to have a routine of saying no an
anti-routine and that is the thing
that’s going to yield those outsized
Returns on productivity you can’t say
yes to everything and therefore it means
that you can’t do two things with
different levels of importance it’s
either important or it’s not important
if it’s important it means you mean to
say no to everything else so if you say
this is the priority then it means you
do not do other things besides that
thing that is how it is a priority that
is how you literally prior prioritize
what it was was setting the tone and the
reason that my views on business have
dramatically shifted is that I have
always had a tendency to lean towards
strategy acquisition monetization
pricing structures and all of that stuff
is important but I think within a
business there are two components to it
you’ve got the smarts and you’ve got the
hearts and you have to have both and I
think that most people overestimate the
importance of smarts myself included and
I think that there’s a lot to do with
the hearts because business strategy
overarchingly is not that complex but
like you really think about it right
it’s like you got to find something
that’s good that people want and you
sell it for a lot more than it costs you
to do it and you do as much of that as
you possibly can like that’s kind of the
idea right and the thing is is
it gets lost in the execution it get
lost in the doing right as soon as you
hire first employees you’re like no
employees can’t boys can’t do what I can
do it’s like well that’s a horrible
belief you should probably change that
before we try him before that’s a
limiting belief right if you want to
have a big business and so when I think
about this from a cultural standpoint
and this is what has shifted for me is
that it’s become so much more about the
soft skills it’s so much more about
coaching and developing the leaders of
the company it’s it’s so much more about
addressing behavioral dynamics of
someone that are limiting them more so
than it is about tinkering and I can’t
help but think that so many
entrepreneurs myself included I spent so
much time tinkering and and tweaking
things like what if we change this in
our sales process what if we change this
on this page what if we change the offer
like this what if we change this on the
price what if the payment terms all
these different things right and think
about this for a second for yourself how
many things have you tinkered with in
your business over the last however many
years how many months and your business
hasn’t changed at all right
because the real problem is not the
strategy the problem is not the smarts
right the problem is the heart right the
people are not doing what you want them
to do because they don’t understand why
they need to do it and why it’s
important right and that’s the soft
stuff and you’ve got you know people who
don’t want to talk to each other because
they don’t like each other because one
guy’s really annoying and so it’s like
it would be it would better serve you to
fix that problem than to try and come up
with some new strategy right realizing
that has been one of the biggest
breakthroughs that I’ve had in my career
those two stories should illustrate the
difference between
um having a championship mentality
um and having a loser mentality and what
might be going on in your business and
I’ll leave you with one more story
really quickly so if any of you has ever
been on a championship team right if
you’ve ever played in a sports uh Arena
or whatever and you’ve been on a winning
team you’ve been on losing team right
and you’ve probably been on a losing
been a lot of good players but you guys
were not connected you weren’t concerted
you weren’t aligned right on the flip
side you had a winning team and it was
like everyone should have to practice
everyone you know tried their hardest it
was the effort and the consistency and
the alignment of the team that
accomplished the goal the rules are the
same everyone was trying to do the exact
same thing and so when you think about
the entire business landscape right your
competitors have access more or less to
the same talent pool that you do they
can see what your strategy is overall
and most people are not that dumb right
and so as long as you have a relatively
sound strategy like you’re not selling
things at a loss right then the
difference between the two is going to
be your ability to execute and have
people execute on your behalf and so
that’s going to become that like for us
as CEOs we do shift towards becoming
championship team coaches which is why
John wouldn’t if he had run a business
would have had a championship business
because he focused on the fundamentals
and one of my favorite sayings of all
time is Advanced people never don’t do
the basics Advanced people never don’t
do the basics I would go to I would go
to these stages and I’d watch guys get
on stage and they’d say you know we we
follow up with all of our leads you know
within five minutes you know when we get
on sales calls we always ask them why
they’re there we label them a problem
you know we overview some of the past
things they’ve done and then they follow
a clear framework that as soon as
someone buys we you know we have a good
onboarding process and nothing they say
is revolutionary
it’s just that they actually do it and
the people are actually on their behalf
they’re not the Vince or don’t have a
manager like Vince who’s telling them
they don’t that they shouldn’t have to
do that work right who’s sabotaging the
business what they did is they set the
tone and then they carry the bar and so
their job is to be intolerant of
anything but excellence and to reinforce
that in the culture so that it’s
consistently executed across the company
because that between two companies with
the same strategy will make the
difference between somebody who who
yields disproportionate Returns on
Advertising crazy profits good growth
great retention on employees low
turnover from a company that doesn’t
have that right even though they both
have the same strategy or even if the
smaller company has the better strategy
this guy will win and this has been one
of the most profound shifts that I’ve
had in a perfect world if everyone had
absolute information and everyone was
unbelievably well trained and you had a
great infrastructure and all that stuff
then yes the more products and services
you offer in theory you would make more
money but we don’t live in that
theoretical world most of the time and
most small business owners are not that
good at operating right it’s the number
one issue they have they’re super
disorganized they feel like they’re
spinning the wheels all day their team
completely has no idea what which way
they’re going they change things all the
time Etc and so in an effort to combat
that we have used this process over and
over again and it has worked very well
so
this follows we sell two things and I’ve
done this in virtually every business
that I’ve ever owned we sell two things
two products or two services and this is
once we’re going from one to ten million
all right zero to one million you sell
one product or one service one Avatar
all right that’s it one channel one
product one Avatar that’s it right but
once you’re going from one to you know
one to three-ish million and you’re
trying to go to ten you introduced the
second product line and so here’s how
this works if you have two things that
you sell you’ll have a front-end thing
and you’ll have a back-end thing we can
still have a massive accommodation in
the buying curve based on the payment
terms that we introduce so for example
people will look at their monthly
expense more than the total contract
value that’s a huge money hack I’m
giving you right now this is a wealth
hack this is something that will make
you a fortune in your life if you can
properly understand this people do not
look at the length or the total contract
they’re signing they will only pay
attention to what is it going to cost me
every month because no one is good with
their money all right so they only look
at the cash flow expense month over
month over month and they just think can
I make it happen yes cool I’ll sign they
don’t think about the total contract
value for you as a business owner the
contract value matters almost more than
anything so I’ll give you a quick hack
on this total side note tangent for you
life hack Pro tip if you want to extend
the contract value that you have I have
a saying which is the bigger the head
the longer the tail all right and so
what that means is the more you can get
someone to pay up front and relative to
The Upfront cost of signing up or what
they paid down
the lower their contractual recurring
payment is the stickier it will be so
I’ll give you an example if I had
someone sign up for 99 a month for
whatever it doesn’t matter that price
point might be medium sticky depending
on the value that I have now imagine I
had someone pay five thousand dollars
down and 99 a month after that how much
more sticky would it be significantly
more sticky now the beauty is if you
have one of these upfront type payments
you can also use that to liquidate your
ad costs cover your commissions for the
salesperson cover The Upfront
fulfillment and onboarding which is
going to cost more for a new customer
than an existing customer and so you can
build all that in if you know that the
thing that you are selling has very high
gross margins then you can still have a
lower cost as long as you know that the
person is going to stay for a long time
and So based on how you structure the
pricing you can actually get some you
can use the pricing to actually get
people to stick longer Pro tip complete
that is it moving back to the original
thing that I was talking about in one of
our portfolio companies we actually had
this as a really in-depth discussion
that we had to make a decision about all
right and so they had a different you
know Mentor person whatever advice uh
who told them that they should have
three products and they should have uh
you know low a medium and a high product
and then based on uh you know what the
salesman thought the salesman would sell
them the low medium or high in my
experience it is not that effective and
that is because the salesperson can’t
decide which of these things they’re
trying to sell most of the time and so
what we have found is more effective is
you give the salesperson the one dream
to sell this thing is going to solve
this person’s problem and we make it the
most valuable thing that we’re trying to
sell because at the end of the day you
do want to solve the the customer’s
problem right we do want to actually
make sure that we’re providing value
rather than having a diet a medium and a
great right Simply Having one thing that
solves all the problems and then based
on the the customer’s budget we can
decrease how they pay all right so hear
me out so let’s say that uh we want to
do a uh this is a six month
implementation of whatever kind of
solution you sell if you have a six
month duration you can have the person a
pay the entire thing up front so that
would be for somebody who has the
highest budget version two would be a
split pay version three might be three
payments right with at twenty percent
higher and then finally you might have a
have a have a you know a six pay or
whatever over that period of time so one
two three six now here’s the cool thing
the more payment options you provide the
higher your conversions are that’s
proven all right so the more options you
give someone to pay the more people will
buy
period now you might not make more cash
flow because if you give your sales guy
more options then they might use they’ll
end up defaulting to the lower ones
right but if you have one thing to sell
then they only have one thing to
convince the person of because a
confused mind doesn’t buy if you have
too many options the salesman won’t know
what to sell and the prospect won’t know
what to buy and so I prefer when I’m
coming into a portfolio company I’m
thinking what is this true problem that
we are solving with this business for
what Avatar and we make that the main
thing and we communicate it clearly in
the scripting and the salesperson has
Clarity on what they are selling and
they’re always solving the same thing
and so the question becomes no longer
which of these things are you going to
buy but once you are buying how would
you like to pay and so then the
discussion is around what payment plan
is best for them rather than what
product is best for them and so by doing
that you can get people to go between
different payment terms that is not
going to change whether they’re going to
buy but if they’re unsure about which
product is going going to best suit
their needs and the salesman doesn’t
know because at the end of the day he’s
just trying to sell the most expensive
thing then you’ll have way more confused
people who leave unsold so this is a
single tactic that you can use to
execute within your business which is
why I’m a big fan of making offers
people cannot say no to is that you can
focus all of your sales and all of your
persuasion attempts on selling the one
thing which is getting them to say yes
once they say yes we can we can reach
the we can accommodate their wealth and
their budget based on the payment terms
that we provide and if we have done we
have structured our offer properly the
offer in and of itself should already be
very high gross margins which means
whether or not the person pays a
thousand dollars a month or a hundred
dollars a month it’s still almost all
margin for us because of how we
structure the thing that we are selling
and so we are able to capture Higher
ltvs by getting the people who have more
money to prepay the thing up front that
is how we do it and with those people
you’ll be able to ascend into the second
thing faster because they’ve already
prepaid that thing and then you can
solve the next natural problem in
another sales conversation rather than
trying to pick all of the things in one
conversation which makes it incredibly
difficult to do this is just for
everyone again a broad brush stroke of
statements for most entrepreneurs who
are not very good at operating their
businesses uh her operations is not
their strong suit and are below three
million dollars a year
because you made it this far in a video
I want to celebrate you most people
start and don’t finish most people never
actually follow through most people say
they want something but they don’t ever
do the work to actually get it but
you’re different you are special believe
Nation you made it here all the way to
the end and I love you so it’s a special
celebration if you put a hashtag believe
down in the comments Below on this video
I will showcase you and celebrate you
somewhere on the screen in a future
video because you are awesome for 10
more amazing rules from Gary vaynerchuk
check the video right there next to me I
think you’ll love it continue to believe
and I’ll see you there
the process of doing something you
actually like is my great addiction the
fact that I am able to actually wake up
day in and day out sleep easily for
seven eight hours a night and wake up