How to get SO rich you question the meaning of making money

you guys want to hear something completely insane yes okay you're gonna have to hear it anyways I was able to take home more in a year than the CEOs of McDonald's Ikea Ford Motorola and Yahoo combined as a kid in his 20s for over half a decade there you go which which resulted in 200 million dollars in portfolio Revenue as of today we crossed 100 million dollars by age 33 and to be honest no one's more surprised than I am about this Alcove and so me expressing this will create Envy in some people it will create anger in others skepticism in most confusion in old people and Inspire select few and so the select few you or who I'm making this for everyone else you can tell but you are the people that I'm making this for let's go back there we go so who wants to hear about some stuff that can shortcut their path to material success so they can ponder the purpose of achieving it to begin with all right so we're going to cover three things today this is fresh from this morning right off the press number one how I'm making money really works number two why new stuff is making you poor number three why better is the way you're like that doesn't make sense yet it will said simply who wants to make lots of money funny thing what you're watching right now is not my original presentation I actually changed it at the very last minute the night before I went out to get dessert a bunch of people from the event were in town going to the place that I was by accident as soon as I left the frozen yogurt lunch where I was I was like the presentation I have for tomorrow isn't what these people need and so I spent that night and all morning making entirely new presentation which is what you are watching who believes that you have to work hard to make money who believes that no one can outwork them you're gonna see where I'm gonna go with this well I'm going to attempt to prove you wrong the reason this is so important is that all of us claim or I have hurt who here has seen a guru on the internet say no one can outwork me who's heard people say that on podcasts make Instagram posts about it whatever It actually drives me [ __ ] bananas and it drives me bananas because it teaches the wrong lesson so how can we claim that we work every day and yet we can't even Define the word so how do you define work the science definition is work equals force times distance problem with that is it's not very useful for knowledge workers most of us are not actually doing manual labor not useful the second way is that you can think about in terms of inputs of time right like is that how hard you work no one can outwork me I work longer hours do you think you're the only person who works 16 18 hours every day like go to China I'm like I don't even know if anyone in America can say it I'm being dead like dead serious so that's why when I see these things just drive me [ __ ] nuts so the problem with that is that many people work all the hours they're awake and if you suggest working more hours then you're sleeping less and I don't think that's a good idea for knowledge workers so why can no network you again right so everyone's working those hours so then the next one is like that's how no one can outwork Me No One's Gonna try harder than me so you want participation trophies is this how you want your employees to think that they're working hard I mean not me I wouldn't want that so if it's not force times distance to Define what work is and if it's not the amount of time we're putting into the work that we do and it's not the effort that we are expending or how hard we try then what's work we have to get clear on it because if that's what we have to do to make money we got to know what we're actually trying to [ __ ] do so here's Alex's definition work equals outputs fancy image outputs equal volume times Leverage in plain speak number of times you do something times how much you get out of each time you do it how do we work faster work rate equals that same thing divided by time plain speak output per minute of time that is how you work faster which means that the hardest working man in the world can be objectively measured that guy is the hardest guy working in the world in 2022 he added 140 billion dollars in net worth for context that's more than Bill Gates did his entire career in one year think about that for a second and then the next year he did the exact same amount again FYI that's 2 billion a week so output divided by time there's the time one year there's the output he's the hard work hardest working guy so who's going to be the 2027 champ point of me doing this is I hope it's somebody here who did who would like to be the 2027 champ all right let's rock so if you want to be it then please pay attention this will help you so how can we get more output which in the game of business is Enterprise Value it's how much [ __ ] is worth outputs right we have this one and I've got a nice flexi arm volume is the number of times we move the leather I literally made all these images this morning all right I'm very very proud of them all right volume is the number of times you move the lever The Leverage is the length of the lever itself that you're using the outputs is how much you can lift on the other side so let's look at a couple examples you guys can just shout it when I say just say high or low so high or low high or low hi higher low very high the reason I put this one in here is that at a certain point it's not about how strong the person is it all depends on how much leverage you have that's the point of the slide now higher low volume times a thousand the thing's just as long as the other one highest yes so now that we understand what work is you can either do more activity or you can do it with more leverage to get more output doing more is Cap by time and physical ability how much you get AKA Leverage is uncapped no cap I learned that gen Z there we go um now fun fact Warren Buffett took home 500 million in dividends last year from Coca-Cola as an owner the CEO took home 50. he spent less time working on Coca-Cola than the CEO did so is he working harder by the definition that we did yes more output we've been playing the game wrong if you want to outwork your competition what you really should be doing is out leveraging them so who gets more done we got one person who's 100 calls a day another person is 100 calls a day the guy who has more skill one guy makes 100 calls another guy makes 100 calls the guy who's better on the phone gets more output okay let's say they're equal skill they're working eight hours a day making calls oh I forgot to ask a question who gets more work done there's the answer the guy that has the automated dialer that keeps his talk time the highest okay same skill same number of hours and same automated dialer to maximize talk time now who gets more work done the guy who has the best list okay they've got the same list the same skill same dialer eight hours a day the guy who's calling to the right season the right time to die Who Wants to be calling selling [ __ ] during December if you're selling physical products who wants to sell on Black Friday of course more leverage same work more output okay let's say all this stuff's equal now who's now who's even all right we got I mean what else do we have nice he actually called it the guy calling with the better offer now we've got the same time same time of year same list same offer same dialer equal skill eight hours a day now who's gonna do it it's got to be equal now right the guy who recorded his pitch and send it to 10 million people now to push this even further what if the guy made zero calls and didn't do anything who makes more against the best caller on Earth the guy's got a team he's got 15 dudes on the phone okay how good you are and if you're like well I think I could be 15 it can't be 1500. okay who you are leverage and that guy made zero calls I have more people calling for me today while I'm on stage Leverage the game is rigged and you've been playing by rules that do not exist if you want to make more money you need to get more for your time you need more leverage and this should make sense because we all trade time for money and I can prove this to you you spend time every second of your life you receive money over the time that you are alive so money divided by time equals rate of output we are all paid dollars per hour the reason I'm specifically saying this to this audience is that you all get fooled all the [ __ ] time by passive income it's not passive it's less active but it is not binary it is not active or passive it's how active is it so if you make one trade in the stock market all the time it took you to analyze the deal and every other deal you decided not to do and then execute the trade and then raise the money and do all the other stuff that is all the time that it took you to do that now after that point you have increasing returns per unit of time is this making sense the point I'm making here is that time is the thing we all have the same twenty four dollars in our wallet it's about how we allocate them and what we get back for them how well we trade just said that there you go degrees all that so Leverage is the difference between what you put in and what you get out there are fancy definitions for it this is the best one that I have and so I said I would cover three things the first one is how making money really works the answer to that question is Leverage you make more money by trading your time for more [ __ ] more output the second is why new stuff is making you poor and this is especially relevant for everyone here part of this again was inspired by the conversations I was having last night at Yogurtland so thank you for everybody who shout out for that this is also how not to get leverage and I felt compelled to make this because I hope that some of you identify with this because I would bet that the majority of you are doing this how not to get leverage there are five pieces to this that I want to break down today number one uninformed optimism number two is a story I'll tell you about a construction buddy of mine number three is something I call the magic wand Story number four is half Bell Bridges number five is one with the red dress you're like I have no [ __ ] clue and that means you will so let's start with uninformed optimism who here has seen this this is stages of change stage of transition anyone seen this this chart before okay cool not a lot of you perfect so there are five steps and I remember the first time I saw this it like it changed my life whenever you're analyzing something new who here has had a buddy tell you about something that they're doing and they're making a lot of money doing it and then you immediately feel shitty about what you're doing and then think I should get out of my opportunity vehicle go over here and do what they're doing who's felt that thank you everyone has the reason is because we're at step one which is uninformed optimism you don't know enough about what they're saying they're just giving you the highlights they're giving you the Instagram reel they're not giving you the real once you decide to get out of your little vehicle and then going over there then you tell your buddy you're like hey why am I not making money he's like oh well there's like a hundred other [ __ ] steps that I didn't talk to you about in the beginning but like and it's actually nearly impossible and I got really lucky that one time um and and now all of a sudden it looks like all the people at your old job are making more money than you uh but yeah let's keep doing it so you move to St stage two which has informed pessimism you are now aware of the [ __ ] that is involved to make the money that you want in this new thing now you think okay this is probably the worst part but then time elapses and it's still shitty and you still haven't made money yet it blows more now because you have invested more time and still have zero so your actual output to time is low rate which is why it's so painful which is where people get into the crisis of meaning why the [ __ ] am I doing this what does money even matter anyways you know what I'd be happier if I just spent more time with my kids you change your goal because you encounter difficulty and so it happens most times is that people then crash and burn I'm going to skip one forward and then I'm going to come back because I want the visual to work the way I want um ah [ __ ] it okay so if you're at the crisis of meaning this is where most people offshoot what happens here where that that fourth dot there on the bottom if I were to cross it out and write uninformed optimism again that's what most of you do you find about something cool inform pessimism it kind of sucks oh [ __ ] it's way harder than I thought uninformed optimism I'll try something else and then you do it again and again and again and the difference between video games in real life where you you face the boss and you can't pass the level until you beat the boss is that when you die in the video game you restart a few seconds later in the game of Entrepreneurship you start years later this is why people don't progress they keep fighting the same boss that can't learn the same [ __ ] lesson they keep losing and I'm saying this because some of you I heard at Yogurtland and I know that that's representative of other people here you keep fighting the same boss and the boss is being able to stick with it is getting through in different charts on this the crisis of meaning is also called the valley of despair is getting through from there you get into informed optimism you figure out that little thing like I had to do this one thing and then this started working and then you know what I found out I could clean the list through this tool I found on the internet because I joined this forum and they started doing that and then all of a sudden my pickup rates tripled right or my response rates tripled or my throughput on my website went up whatever it is right and so you have to get through that piece then you get to informed optimism and the number six you achieve and then all your friends are like yo what are you doing you're like oh I got this thing and then all of them come right that is where most people start something new over and over and over again and they don't learn the lesson and so this is what their life looks like over and over and over and over again who here has more than one business in the last 24 months be honest thank you for being honest I appreciate it first thing it's normal I had nine businesses and I was broke so I say this with the pain of experience I'm not saying this to to be on a Pulpit I'm saying it because the faster you can get through it the faster you will start making money you have to beat the boss everyone thinks the grass is greener but the other side's still aligned with [ __ ] like that's why the grass is so great there's [ __ ] everywhere I have a CFO who's been with us for a long time she went through all of our exits last year she's probably almost 60 and she has to sing she's like it's all [ __ ] doesn't matter what business it is they all got [ __ ] she's Southern and uh Suzanne's awesome but it just always reminds me of this is that there's always [ __ ] and whenever we're starting something new we encounter something that we didn't know before and we're like oh this makes this shittier and then we think well are we going to jump out no well this is new information great we're more informed fantastic so that is the thing number one that is keeping you poor uninformed optimism number two is a little story I want to tell you so I was called up probably two three years ago by a guy I knew in high school we hadn't talked in a while and he said hey I've got this roofing business uh you know I want to scale it I want to go big I was like that's awesome man and so he was telling me about the roofing business tell me about the roofing business and all of a sudden he says oh yeah I mean we also do some general contracting work I was like okay uh why don't you grow the roofing business he said well you know don't leave money on the table okay um and then this is going to sink in for some of you guys uh and then and he was like I was like so you've got the roofing you got the GC stuff he's like yeah that's what I'm doing he's like you pause for a second it's like well we also kind of flip houses too so we like fix them and flip them we also do the Contracting work but we fixed the roof so we just get huge costs we're vertically integrated it's like dude you're making less three million bucks you're gonna [ __ ] vertical integrated you're distracted right and he was like how do I scale and I was like just pick one he's like what do you mean I was like pick one it's like why do you think you can't build a billion dollar roofing business just doing Roofing and just get better at doing Roofing he said well I don't leave money on the table who here said they don't leave money on the table the money or you were leaving on the table is the focus that you're not giving to the one thing that matters and so by the way this is the self-made women list for Forbes this is Diane Hendricks she's the number one wealthiest self-made Woman by the way and she owns if you can see it there ABC Supply which is Roofing not housephobic not General Contracting work Roofing why didn't he build that he's smarter than Diane Hendricks that's why so this is the list and this is what I want you to notice about this this is the Forbes the top six for women self-made notice the age of the people on there age is the left column 75 78 84 90 89 63. on the right notice the source Roofing Healthcare software retailing gas stations Trucking Little Caesars Pizza I.T so sexy the point of this slide is that if you want to build something epic you have to be able to do the same thing for an extended period of time without convincing yourself you're smarter than you are which means if you wanted to not make money this is what you should do number one do lots of different things number two do them for short periods of time don't stick with it too long because you might see success number three do not get help okay number four make all the mistakes in your own it's the best way to do it because otherwise if you start learning from other people's mistakes you can move faster so don't want to do that when you make a mistake do it again just repeat it especially if you're like I've been here before do the same thing who here knows the definition of learning I'll tell you same condition different Behavior so if you want to teach someone something and you present them the same condition and they have not changed their behavior they have not learned if you came to this Workshop this weekend with the intention of learning something can I get everybody to raise their hand if they had the intention of learning something while they were here if you go back home and your behavior does not change you learned nothing nothing truly took the money and burned it along with losing the output that you lost in the time of here plus travel so if that definition has been singed into my mind because if I want to learn something and I have the same condition that's been presented I have to ask myself if I do the same thing again it means I have not learned and I don't want to play this boss again so if you do want to make money you can flip it you do one thing for a very long period of time you get help from other people You observe what other people have been doing you only make the mistake one time if you are going to make them and you always grow and challenge the beliefs that you had and try and answer the question what do I believe to be true that is not because ordinary business is done for Extraordinary time create extraordinary results compounding is the thing like it has to compound if the vehicle you are in right now does not compound with time then change the vehicle get into something that if you stick with it for an extended period of time it would be unreasonable that you will be poor that was my construction Buddy Story so I had a conversation with a different friend and he had a zillion businesses like a zillion I get a spreadsheet for how many businesses he had and they were all [ __ ] businesses they didn't actually make any money but he had like a logo and a website and like some VA you know what I mean like oh it's a business and he was believing the fallacy of I'm just going to wait to see the thing that takes off and then go on on that who here has thought this thought I get it I'm gonna Focus I'm just gonna wait I'm gonna be patient see which one works out and then because I'm a good you know statistics guy I'm gonna go with the winning horse right but the reality is that any of them could take off you could have a billion dollar roofing business you have a billion dollar GC business you have a billion dollar householding business but you can't have them all so you got to focus you gotta pick one and the nice thing is it doesn't really matter which one you pick but you do need to pick one the picking is the thing that grows it the ability to say no is the thing that grows it not the thing you pick it's who you are as a consequence of the decision that changes the outcome not the vehicle does that make sense so how arrogant is it to think that we can do multiple things at once and compete with someone who's spending all their time on that one thing it's ridiculous and yet we still do it and so this is I love this little cartoon this guy you know he's got all the spinning plates and this is this is me with the red hair going to this guy who's hopefully my competitor and handing him more plays be like oh do you see all that shiny object over there here more plates go I'm just going to do this one thing it's my favorite thing in the world competing against somebody who's doing lots of things it's very easy to win you don't have to do much because you only have to do a tenth of what they do so this is what Focus really looks like one thing all in you can write that down you can Circle it one thing all in so I asked my friend of mine that had the Excel sheet with all these zillions of questions right I said if I had a magic wand and I ended all your side projects except for one just one the one that you think has the most opportunity the one that's probably making the most money right now that you're not paying attention to because it's boring because it's always been doing a while he's like yeah I was like you know what business it is he's like yeah like okay if you ended everything else because I I have a magic wand so I get to make the rules magic wand they all disappear I said how easy would it be to grow that thing he just looked at me it's like really [ __ ] easy I was like hmm interesting and so he's like but that would be so hard because of insert real reason that no one gives a [ __ ] about no one cares but I have to fire that uh-huh but I would have to shut down uh-huh but I would have to lay off uh-huh all the riches you want are on the other side of a few hard conversations and most people spend the rest of their lives not having them and being poor and wondering why it's gonna suck it's gonna be okay that was my number three story the magic wand number four my favorite story who here has seen The Matrix awesome you need to become the person who can say no to the woman the red dress the woman in the red dress is the representation of everything that is shiny object and beautiful and wonderful in the world whatever your flavor of woman in the red dress is and the thing is and this is something that I have now learned painstakingly is that being able to say no to the one in the red dress changes at levels you can say no to the one in their address who's a crackhead on the corner right a thousand bucks a month you're like I can say no to her no worries well I got something better right but then the ten thousand dollar a month girl you're like huh okay interesting and if you're making ten thousand dollars a month it's hard to say no to that girl but let's say that you're a a hard-working discipline [ __ ] you get to a hundred thousand dollars a month there's a hundred thousand dollar a month girl that's an opportunity that is much bigger than the one that you said no to before and you have to learn to flex the muscle at every level this this is a lesson that I learned the hard way I started a supplement company when Jim Walsh was doing 26 million a year and rather than say oh why don't I just take gym launch to 40 next year I'll start another thing gym launch stayed the same and then I added another source of Revenue that got us to 37 but it was a mistake strategically I can tell the story it sounds great on paper we sold the company lots of money whatever but like it was not the right move and so I had learned how to say no to a million dollar opportunity a five million a 10 million but I hadn't learned how to say no to a 20 million opportunity when I was making 20 million and so like the woman in the red dress becomes more seductive more attractive the better you get the more status you get the hotter the girl you attract right and I'm saying this figuratively for entrepreneurs does that make sense for everybody who's not into women with red dresses okay because this is what the woman in the red dress really looks like just ready to smash your [ __ ] and distract you and spread you thin so that you can't keep your eye on the ball and then eventually she spreads you so thin that you don't know how to get out and it feels like quicksand because as soon as you put out fires here there's fires here there's fires here fires here I need more Talent you take the best person from over here to fix that problem then this thing goes to [ __ ] how do you get out gotta cut [ __ ] gotta eat your ego you got to watch your Revenue go down so you can refocus reconsolidate bring the troops in I'm saying this because someone here needs to do this and I wish I had [ __ ] heard this from somebody else I would avoid a lot of pain so how do you become that person who can say no to the woman in the red dress you do the activities someone with those character traits would do despite not feeling good about it so I'll tell you a story that'll drive us home so Leila and I were on this walk not that long ago and I said you know I was like I'm so impatient I'm so impatient I need to be more patient right and she was like I don't think you're impatient I was like yeah I am I [ __ ] hate this let's I want this to be faster I want everything to be bigger faster stronger she's like yeah but you're not changing your behavior like you feel that way but you haven't done anything that's not aligned with the long-term strategic Vision I was like yeah but I feel [ __ ] terrible I want to be like Zen about it he's like yeah that's not how it works she's like patience is about the behaviors we do not how we feel about behaviors so who here has heard the quote courage is not the absence of fear but it's action despite fear right patience is not not feeling impatient and feeling terrible about waiting about not jumping on these opportunities it's about not jumping on the opportunities despite feeling like [ __ ] about it and wanting to right loyalty is not necessarily about the fact that your eye doesn't get caught every once in a while right or maybe even feel a desire that you wish you didn't feel it's about what you act on it because who here would rather have somebody okay I think you already know where I'm going with this right in terms of loyalty how would you rather right you'd rather the person not act on the behave on the thought that is how you gain the trait and then over time this is my belief if you do that enough times those feelings go away through exposure therapy like you get exposed to this condition over and over again and eventually you know that you don't die because that's what it feels like and so whether it's a loyalty issue an Integrity issue a courage issue a focus issue which is the point of this message today to become that person you just start acting like the person who has those beliefs and you behave in that way and then it will sink in want me to their address so new distractions kill leverage and keep you poor Focus multiplies it I said three things number one how making money really works it all comes down to leverage number two why making new stuff is making you poor which means you have to focus and number three is why better is Leverage this is the make money part here's a simple approach to growth that we use with our portfolio companies better is better than new better is leverage because remember Leverage is how we get more from what we put in if you do it better you get more for what you put in that is Leverage examples if you have call scripts if you make content if you have websites that you're building if you have follow-up sequences if you have offers if you do the current thing you get what you currently have if you make it better you will get more from the activities you can create leverage in your business by being better and better comes from boring most of us solved an emotional need by quitting whatever we were doing to start to become an entrepreneur and then we had a positive reinforcement from that from that behavior and so then we learned that as a way of life but the problem is that the thing that forced you or gave you that emotional that decrease your action threshold thus that you would jump into the next thing is the very thing that'll make you jump out of the opportunity that could become your billion dollar thing does that make sense you felt uncomfortable on your job you quit your job you got rewarded and so you think oh when I quit things I'll get rewarded but that's the wrong lesson it only works once and then you have to unlearn it and with each level of Entrepreneurship there are lessons like that that you have to unlearn the thing that got you there better comes from boring it is not exciting to run your 38th split test on a landing page it does make you more money it comes from doing all the [ __ ] that you know you should be doing but aren't and so right now this is an activity so this is an active part imagine a list of all the stuff you know you should be doing but aren't doing right now within your existing business like right now like top of your head you know there's some [ __ ] that you should be doing in your business I'm going to give you 15 seconds the reason that stuff is so important is because you already know what you need to do and we come here get raw Rod Etc but the [ __ ] is on your desk at home that is the work that must be done it needs doing and most of us know what to do and we don't want to confront it because we want to do something more stimulating and exciting that makes us feel alive and your business doesn't give a [ __ ] better is boring and better gets you more for what you put in better as leverage now imagine who here has a few businesses be really [ __ ] hard to make that list wouldn't it there's too much [ __ ] it's too much too much stuff to make the business which means becomes impossible which means that's why you have to pick one because there is so much stuff that has to be done to do one business right just do it right if you do it right you grow by default there's a promise who here is like I know I should be doing more email follow-up I know I should be calling my leads within five minutes who here thinks that right now okay let me ask a different question and many of you did raise your hand who here calls other leads within five minutes okay like two hands you will triple your sales triple triple who wants to Triple the [ __ ] business triple but that sounds boring sure is gotta Implement CRM got to get round robin set up Lee's got to come in you got to figure out how call prioritization Works between the team that's boring makes you a shitload of money that's how it works who's going to win two different businesses the guys who got the [ __ ] dialed better gets you more for what you put in and when you do get home order it from the amount you have to put in to get the thing done that will result in the most output and start taking them off and you continue to ignore the new things that sound really exciting and you become the person who's able to do that by pretending to be the person who's able to do that because you already know what to do so this is a mental model I really like a lot who here has ever had a coach or a mentor has anyone ever coached or mentored other people does anyone feel like they're a better Mentor than they are a person who does [ __ ] I do all the time and so the thing is is I ask myself this question it's actually been one of the like most profound most helpful questions I've had which is if I were coaching me and the beautiful thing about this is that when you coach you you have no other agenda you're just trying to help you and you also have more information than anyone else has you've been on every conversation you've been you've read every email you've seen every report so if you were coaching you right now what would you tell you to do and what's crazy about this is that half the [ __ ] time is not what I'm doing coach me much smarter than Mimi right Mumu okay um take your own advice if you do that I promise you'll make more money be like ah but I'm a special snowflake you're just convincing yourself that you're smarter than you are giving yourself reasons that reality does not apply to you it does and this is just a boss level you might need to keep going against the snowflake until eventually you figure out that you just got to melt it by being there and hanging in and so in my entrepreneurial career there's two periods very clear definitions of periods of time in my life the first period was when I was distracted this is when I did not make money I had six gyms I had a launch business return we do gym turnarounds in person that's where I actually physically was not at my gyms I had a dentist a dental agency I had a chiropractor agency I think I had something else more lots of fingers right and I was 26 ish and I would love to tell people oh I own nine companies right I'm poor but um but it felt really good struck my ego not my bank account so it was only one Layla the angel of my life it was like Hey you know this one makes us the most money and you spend the least amount of time on it that Jim launch thing actually works uh but I have to like I would have to like sell all those gyms I'd have to end Partnerships I'd have to let go of people in the agency and she was like yeah or you could just you know keep doing what you're doing just clearly working Point taking you know um and so over the next 90 days I sold five gyms shut one down shut down both agencies um and got rid of everything and 12 months later from that moment we were doing one and a half million a month from zero and so and 12 months after that we had four and a half million a month one thing and so this was the second period just focus it's so much easier to stack the deck in your favor if you just do one thing because when you focus on one thing you make it unreasonable to fail if you do one thing for an extended period of time it becomes unreasonable to suck if you do it more than anyone else has done it you'll be better than that just is what it is people watch all the time they're like hey how did you get so good at sales I took four thousand [ __ ] sales calls that's how I did it so I did it I didn't even I'd even go through a sales training at four thousand [ __ ] conversations that's why I did it and so if you if you wanted to be the best salesman in the world then have more sales conversations than anyone else has if you want to be the best real estate investor then do more deals than anyone else has and the sub like the subsequent before that is send out more mailers than anyone else has have more cold callers than anyone else has send more cold DMS than anyone else has and you'll become the best and if you put that as the output the thing that you're looking at it becomes unreasonable that you would be not the best right like you're at least going to be top 10. and if who here would be top 10 in real estate in the US would you be okay with that right it wouldn't be bad and the thing is that everyone fails because they want to move fast like this is the number one issue so they don't have a solid foundation they draw the dotted line they think I'm going to try and shortcut it I'm not going to fix my product I'm not going to make it really good because I want to go fast because I want to show to my friends that I'm growing every month I wonder how good I am the thing is it's a short game like how many times it's like it's the restaurant example is so simple so many people start a restaurant slap two pieces of Wonder Bread together put a slice of bologna in there and then Market it like [ __ ] crazy and they're like dude I don't get why my business isn't growing I'm like because everyone who has your food literally tells everyone that it [ __ ] sucks and never come back so there's this invisible hand that works against people which is who knows about the power of Word of Mouth right the Invisible Hand who here runs ads let me ask that question who runs advertisement okay if you run ads and it has become more expensive for you disproportionate to the increase in cpms which is cost for impression or eyeballs in that period of time that you've been in business then it means that you have negative word of mouth so if you're like well I don't get that many referrals oh but you sure do get a whole bunch of people who you get Negative referrals you get Negative sales you have to spend twice as much of a car Customer because every other customer that you would have acquired was told by someone else not to buy from you it's the invisible hand when you shortcut it promote promote promote and then Flatline and then dissolve and then you come up with new [ __ ] and you who here has seen the people on the internet doing this game over and over and over again they don't get the product right they put two pieces of baloney you know sandwiched together with a baloney slice in the middle and they call it a product and then we have ham with one slice in the middle and it's still [ __ ] because they don't want to take the 12 months to actually get the [ __ ] product right but on the long game 10 years from now the guy who takes the first year takes a break even on that year just to get the product right makes everything easy but no one can wait 12 months because they can't see the big picture they keep trying to string three of these little shortcuts together rather than build the foundation better is Leverage better gets you more for what you put in this is what small businesses look like this is what big businesses look like the amount of activity is actually not that different it's just a line it's just all in the same direction it's all it is it's really not like I promise you've been in both it's all it is there's nothing there's no magic it's just a windup same input more output well boring but better looks like it means split testing landing pages not once but weekly not just one time when you come here you put the process in place to do it every [ __ ] week split testing emails not once but weekly making new ads and creative not when you have to but before you need them role playing with the sales team not once but daily role playing with customer success hey I want a refund hey I hated this hey it wasn't fast enough what did they say role play if you have amazing customer success they role played every day they'll get [ __ ] good I promise how exciting is that not at all not at all but you know what it does it makes more money taking 10 more interviews for the same role sucks to talk to 10 more people for no reason but there is a reason because you're trying to find the one person that's going to give you 10 times The Leverage on that time you got back think about this but if you didn't take those interviews you hire someone wait six months and you have to do the whole thing again and you lost the six months that's what Layla was talking about taking more time to make your lead magnet better make your offer better and better all these things are boring but make you more money and so this is my promise is that doing all the un60 [ __ ] that you aren't doing but no you should is the secret to the success my promise if you do nothing new but only what you already know you should be doing that your self coach tells you to you will make more money in the next 12 months than you can imagine you just got to do it right so this is actually a text I got uh yesterday or yeah it was yesterday um this guy had lost everything um and he had set a goal down for himself and he said hey uh last day of 2021 set a business goal that's always quite honestly unrealistic impossible to hit well I'm going to surpass it in Q3 and so the only thing that I told him to do was to commit to the activities I was like just do the same thing every day rain or shine it was Prospect I was a prospect every day he's like and the first few months he actually had a couple good months and then he slowed down he's like how do I say how do I stay committed I was like because you felt successful for [ __ ] getting an outcome it's irrelevant for who you are some of you guys have heard this quote but your work works on you more than you work on it I was like you need to become the person who isn't satisfied with whatever that outcome was but only by the commitment that you made to yourself about the activity that you were going to do and so whether it was up or it was down it divorces the actions from the outcome not to say that the outcome is not the work it is but in terms of Who You Are who you are is is forged in the repetitive Act final point who here knows the difference between a seven out of 10 book and a nine and a half out of ten book about 20 times the work realistically who you knows the difference in sales between seven and a half book and a nine and a half book about a thousand times the sales and so if you do 20 times the work and get a thousand times the effort that's a 50x increase per unit of input it's a lot it's worth it but you do have to do 20 times more work that is Leverage an opportunity is missed by most because the distressed and overalls and looks like work and so I said I was going to cover three things and I have a little thing at the end here it'll take me less than five um you guys go with that all right sweet so I said I was going to cover three things I want to make sure I filled my promise number one is how making money really works leverage everybody feel good with that does that make sense all right number two why making new [ __ ] is making you poor and while you have to focus number three is why better is Leverage awesome and so I want to wrap up my presentation with a quick demonstration of Leverage in the real world getting more out of the same thing okay so we're gonna do an exercise to wrap this up and I think that it will do more than anything I can say with these slides this will probably be what you remember unfortunately with all my picture pretty pictures um so I'm going to take a single action and increase the leverage in real time in front of you is that cool so you'll see a before and after in front of your eyes it's like a real world money magic trick okay so I gave you a lot of examples of things you can improve in a business better cause better content better sales groups better website better follow-up better offers right so what I'm going to do is I'm going to highlight just one of these things all right for you right now and show you how many riches lie unlocked within your business today that you already know about so I'm going to focus on offers because it's an easy one I can do in front of everyone all right so I'm going to show you the leverage of a better offer so I'm going to sell you a book for a hundred thousand dollars just kidding a thousand dollars so the point of Leverage is a better offer sorry the point is leverage of a better offer one action selling one product a book Leverage is how much money it fetches for the same activity does that make sense our equation this makes sense okay here are the directions for this activity the moment you feel that a thousand dollars of value has been created please stand up and stay standing okay does this make sense this is simple directions if you feel a thousand dollars then stand and stay standing all right I'm repeating it 100 000 just kidding typa so Let The Leverage building begin I have 10 books with me today who wants one for a thousand dollars raise your or stand up well thank you stay standing three people already have three thousand dollars is this exciting all right I'd even tell you what it was yet it's a really good book probably giving it away who now wants it I said it was a really good book no more people okay it's a best seller still three people oh four there we go four people haha it's my book right now I got one more two more three more all right four more so we got eight nine ten eleven I've already accounted for my books but just wait there's more so I said who wants one of the ten for a thousand right we got all these cool there's all the reviews people say it's good very good rating please stay standing it's also number one number four and number seven for the last 13 straight months pretty cool right in marketing and sales I think it's pretty dope please stand up this guy read the book and quadrupled his monthly Revenue just from reading the book if you quadruple your Revenue would that be worth it oh yeah six seven eight nine ten eleven twelve a lot more okay this is it wow probably 40 or 50 up okay but wait there's more going to autograph the book there's only one that I have autographed actually that's not true I think there's probably five oops I had to get a really fat marker so you could sit that's actually my my it's embarrassing not yet not yet not yet not yet oh you got to stand you got to keep standing got to keep standing one out of ten I'll put my personal cell phone in the inside thousand bucks I'm not gonna show it to you all right we got about two-thirds okay I'm gonna review for your sales calls rewrite your script with you and uh drill your sales team on how we set everything up does that work for a thousand bucks stand if that's worth it for you with the book please stand I'll have my traffic guy who right now we get about 20 000 leads a day across our portfolio uh he'll do an entire funnel breakdown to see about 11 pages he'll break down everything that you could do differently within the funnel different headline split tests different paragraphs different copy things different images different layouts right now we have between more than 2x but I feel confident saying we can double your traffic all right we're close we're like 90 percent I'll also use my network to recruit the one missing star player that you have in your company so right now we will look at your company and we'll find out what the biggest missing pieces in leverage and put someone in there for you stand up with that that's worth a thousand bucks I'll also spend two hours with you on the offer that you're giving right now so you can get more people to click more people to sign up for the calls more people to show more people to buy and at higher prices all right I think I got like one person still seated I got I see you I see you I see what I got I'll see what I got see what I got I'm also going to feature you on my channel so that two hours will televise it and we'll distribute it across all of our channels so right now that gets about 10 million impressions so in real advertising dollars it's about a hundred thousand dollars in advertising just for in terms of that's what people are willing to pay for three 90 second spots uh and it's a 30 minute spot so it would be significantly higher than that so if that's worth a thousand bucks let me know by standing is how you do that and if you don't make three times what you pay me for this book I'll give you all the money back and keep all the work that we did that work measured over 12 months that's the fine print Fair please stand if that's still worth a thousand bucks I see you and uh there's not 10 books there's only one look around and that's how you increase leverage to sell and offer set for 25 buckets for a hundred thousand dollars so does everyone understand stay standing do you ever understand that you just need to do it better output comes from volume times leverage you must do more and get more from what you do the way you get more from what you do is you first do everything that you know you should be doing better the way you do that is to focus on one thing for a long time without distraction anything can become big with time when you line all actions to a single outcome and you keep working at it your success will look effortless and obvious from the outside but you will know that it came from years of saying no to everything except that which mattered most this is how we grow companies at acquisition.com through Leverage most entrepreneurs like the who the what and how to scale at acquisition.com we recruit the who we give them the what we show them the how and once an entrepreneur has all three the business scales by default Laila already showed you these we've got more free courses at acquisition.com if you guys like this stuff if you want to learn more from us and that's it thank you guys so much I appreciate you [Music]

Channel: Alex Hormozi

Views: 3,470,810

Keywords: Alex Hormozi, Alex Hormozi Business Tips, Alex Hormozi Gym Launch Secrets, Hormozi, Business guides, Business tips, Skillsets, Skill Stacking, The Game Podcast, mozination

Id: RdAKXJlMIZM

Length: 51min 46sec (3106 seconds)

Published: Sat Aug 05 2023