This content distills key lessons and failures from a highly successful year, emphasizing the importance of embracing risk, cultivating mental toughness, and strategic execution in both business and personal life.
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My companies did over $250 million in
revenue last year. I broke a Guinness
World Record for the fastest selling
non-fiction book of all time. I did $106
million in sales in under three days. My
mother also died last year.
And I want to compress everything that I
learned this last year into this video
for you. For 8 years, I've had the habit
of texting myself lessons as they came
up so I wouldn't forget them. And every
year, I make one video like this. And
every year, it is my most listened to
podcast that I have. And so this is 2025
lessons and failures. The first is that
fear exists in the fig. And so if you're
afraid to take the risk, write it down
in excruciating detail what you're
actually afraid of having happen. Like
really step by step what happens next
when you fail. You'll often find it's
not that bad when you spell it out
because it only exists when it's hazy,
not when it's crisp. Because when you
actually play it out, okay, maybe you do
go back home. And what does going back
home really mean? It means that you go
back in your old room or maybe you sleep
on a couch or maybe you sleep on a
friend's couch. And so besides the rules
that you believe other people have on
your life that you think you're
breaking, that is all made up cuz they
don't really care that much because no
one really cares that much about anyone
besides themselves. It's all make
believe. And I think that when you get
as specific as humanly possible, but
like I don't want to I don't want to
post this content. What? because you're
afraid that some unnamed account or some
named account will write words on a
screen that will read that you'll read
that will make your your feelings go
away. Like that's that is what will stop
you from achieving your goal. Having a
stranger tell you to [ __ ] off because
you reached out is is the reason. That's
it. Like you're like I didn't achieve my
goals because I was afraid that somebody
I don't know would tell me that I suck.
When you say it like that, you're like
[ __ ] Now let's say a different version.
I didn't achieve my potential. I never
pursued any of my goals because someone
I know, I was afraid that they would say
that they didn't approve of my behavior
anymore. Maybe you shouldn't a care what
they think or b have them in your life.
And so when I decided to launch this
book, $100 million Money Models, the
goal was to do $100 million in the
weekend. And I made that goal public
within the company so everybody knew.
And one of the people on my team said,
"Well, what if we don't hit it?" And I
remember almost being like disgusted.
Like that was like my my physical
reaction to to when that person said
that. And I remember just looking at him
and I was like, "Dare greatly,
motherfucker." Like what's the point?
Like if we if we [ __ ] up, we die trying.
You know what I mean? Like so what? But
like we're going to still fight like
hell to try and make it happen. And so
the fact that he asked that really just
made me think like what does he think
I'm afraid of? If I if I said, "Hey
guys, we're gonna hit we're gonna try
and hit 100 million." We hit 80 or we
hit 70, whatever. I'm like, "Okay,
boohoo. We made a bunch of money. We got
a ton of people books in their hands
that can help them. What are we going to
do? We'll try again next year." Like,
well, what what if people don't take you
seriously? I don't think people are
going to not take me seriously because
people will take you as serious as you
take yourself. And if you are serious
about your goals and your commitment to
those goals, people can visibly observe.
There is no one that will fault you for
daring greatly. Period. And anyone who
does doesn't matter. And one of my
favorite quotes, like man, it's probably
like a top 10 quote for me all time,
which I have a lot of quotes, is from
Marcus Aurelius. He said, "What are you
so afraid of losing when nothing in this
world belongs to you?" And so it's like
we're here on borrowed time to acquire
borrowed assets and borrowed resources
and at the end of the game, you're just
going to push your chips to the middle
and somebody else is going to take your
chair. That's it. Out of coins. And so
it's like we're just we're just in the
game. Like we're just here. We're we're
renting. We're leasers, right? None of
this is permanent. And so the idea that
we'd fear some permanent outcome from an
impermanent existence, the longer I've
been in the game, the more disgusted I
am by that feeling and by someone
questioning that. And so I share that
with you because when that when that uh
young man said that to me, it was just a
great reminder of like we ended up
hitting the 100 million. We did 106. But
like you have to you have to you have to
believe on some level that you can hit
it. And you also have to believe even
more that you will die trying. And I
think that your commitment has to be to
the effort that you're willing to put
forth. And completely divorced of the
outcome. I believed that we could hit it
because all the math made sense.
But could I ultimately control whether
ads got delivered or you know an account
gets shut down or or you know the the
internet doesn't work or there's a storm
that day and all the power gener of
course there are things that could
happen. So in no way I just want to make
sure that I put 100% effort on all the
things that I can control and then after
that you roll the [ __ ] dice and you
stack as many chips as you can in your
favor. And then after that you let the
cards fall where they will. And so that
was a very big reminder for me this year
was that like nothing great was ever
accomplished by someone who was afraid
to try because of what they thought
other people would think or say about
them. So that was number one. The second
one is that I feel like the longer that
I've been in this game, the more I feel
like mental toughness matters more than
motivation. And so mental toughness
comes down to four things which
obviously when my mother died I had to
think through like how am I going to
respond to this obviously negative event
in my life and that she died all of a
sudden no one thought it was going to
happen it was just very fast which in
some ways I can be very grateful for
right she didn't have like a long
suffering period and so there are four
things that I think happen when any
negative event occurs something against
your preferences something bad is that
the first level is how much bad stuff
can happen before you force it to change
the way you live. The second component
is okay something rattles you enough
that you start you change the way you
behave. Once you change the way you
behave basically how upset do you get?
How low do you go? Somebody who's more
mentally tough would take longer to get
upset and then if they do get do get
upset they do snap. They only change
their behavior a tiny bit. That's it.
So, they're not like, "Oh, I'm going to
go start taking heroin and I'm going to
go cheat on my wife and I'm going to go,
you know, drive drunk." They're like, "I
might have some ice cream tonight."
Right? And then once they're on that
negative path, the next level of our
element of mental toughness is how fast
do you come back, which is resiliency.
How fast do you rebound back to where
you were? Are you somebody who, you
know, someone says a cross word to you,
old school cross, right? bet something
mean to you and then you let it bother
you for a week, you let it bother you
for two weeks, a month before you
rebound. Even if it was a small thing
and a small change of behavior, if you
have low resiliency, it just takes you a
long time to get to baseline. And then
the fourth element is when you do
rebound, how much do you rebound? Do you
just rebound below where you were? Did
it per by the way, that's a traumatic
event. It permanently changed you your
behavior. Do you get back to baseline?
So it didn't permanently change you. Was
not traumatic. or you go above baseline.
You adapt. You're better than you were
before the bad thing happened. Which, by
the way, also traumatizes you. Because
for those of you who hear this all over
social media, translate the word trauma
into a permanent change in behavior from
an aversive bad stimulus thing that
happened. So trauma means that you just
change. You permanently change the way
you act when something bad happens. Is
there a world where you can change how
you act permanently? Where you behave
better than you did before? Yeah. Many
of you, many humans, not the current
generation, let's say a generation or
two back, were traumatized by your
parents many times. Sometimes with a
belt, sometimes with a hanger, sometimes
with a spoon, sometimes with a hand,
sometimes with a shoe or a slipper,
sometimes at your head. Who knows? The
point is is that you did something, you
got smacked, and then you permanently
stopped doing that. They traumatized
you. Was trauma bad in that situation?
No. It's only bad if it permanently
changes your behavior in a way that is
against the type of person that you want
to be or the types of behaviors that you
prefer to to act in or do. And so when I
thought about those things and I was
forced this year to like actually define
like what is mental toughness? People
throw this out a lot. like how can I
measure this? And then if I can measure
it, then it means that I can improve it.
And so when someone says, "Hey man,
toughen up or get mentally tougher."
Now, at least you have four variables
that you can think of in your mind. I
want to take longer for something to
change the way I act. If it does change
the way I act, I want it to change it as
little as possible. And if I notice that
my behavior has changed, I want to
rebound as quickly as I can. As soon as
I notice that it changes, and then not
only that, I want to be better for it,
not worse. And then that's what happens.
And the shift that occurs is that life
starts happening for you, not to you.
You become the victor of your
circumstances rather than the victim.
You become the person who's in the
driver's seat. And the reason that so
many people are aversive to that concept
is because it is so much easier to cast
blame outwards. Right? Your power
follows the direction of where you point
blame. So if you say, "I'm this way
because my mom didn't hug me enough. I'm
this way because my dad didn't hug me
enough." Then guess who actually has
complete control over your life? Them or
your perception of them. But if you
said, "I am this way because I am not
resilient enough. I was not adaptive
enough. I was not I didn't have enough
tolerance to be able to handle that
level of stress." Well, then guess what
you can now do? You can do something
about it because you admitted at least
you were in charge. You were the one in
control or you have some control, some
influence over the outcome of how you
act. And so defining this was really
helpful for me. Obviously going through
my mother's my mother's death and
accident and thinking like what kind of
man do I want to be? How do I want to
show up to my family? How do I want to
be there for everyone else who's going
to be at this, you know, at this
funeral, extended family, the people
from my mom's church who are going to be
there? Like how do I want to present
myself? And to be clear, I'm not saying
that you that you shouldn't suffer, that
you shouldn't mourn. I think that people
mourn in 100% unique ways that are
entirely of their own. And for anybody
to say that you somehow think someone
should mourn the way you think they
should mourn, [ __ ] you. Real talk.
People can mourn however they want to
mourn. And your choices in those harder
times can serve as evidence of the type
of person that you want to be. So that
when hard times come again, you can look
back and say, "I know I can get through
this because I got through that." And
then it becomes the stack of undeniable
proof that you're not just saying you
are this way. You can prove that you are
this way. And it's not that you do this
to the external world because the
external world doesn't give [ __ ] and
they're not taking track anyways. But
it's for you because you're the one with
the tally marks. You're the one who's
got the scars to show for it. You're the
one who gets to say, "I know I can get
through this because I have been through
worse." And what's really interesting
that I'll share is that the younger you
are in my opinion, the harder life is
because you have the same hard things
that occur to you. 10 out of 10 bad
thing is a 10 out of 10 bad thing. Maybe
your 10 out of 10 is different than
somebody else's, but everyone has a
maxed out pain scale. The difference is
that when you're younger, you don't have
the tools to protect yourself. You don't
have the tools to respond, and you don't
know how to make sense of the world yet.
And so no matter what you go through now
as an adult, I always think to myself,
there is something for sure that I went
through when I was younger that was
harder than this. And every time I look
for it, I find it. And it reminds me
that one, this two shall pass. And two,
I'm still [ __ ] here. And so this year
had a lot of hardship, not just my my
mother's death, but it served as a
reminder of the things that I can put in
my backpack on my checklist of things
that I can say I have also survived
this. So the third thing that I wrote
down for myself was record-breaking
outcomes take record-breaking work. And
so when I was kind of in the in the
thick of preparing for the book launch,
this launch, the Guinness World
Record-breaking launch, right, the guy
who owned the record before that, Prince
Harry, had almost doubled the guy who
ran who owned the record before that,
which is President Obama. All right, so
Obama was at 800 something thousand.
Prince Harry was at 1.4 million. And I'm
thinking these guys have tremendous
resources at their advantage and they
wanted to have a, you know, tons of book
sales and show, you know, show that they
had lots of people who love them and all
that stuff. And I was like, how am I
going to try and outsell these monarchs
literally, right? And it's like, well,
what are the things that are
controllable is the work that we put
into it. And I was like, well, I don't
know how Hard Prince Harry works. I have
no idea. I've never met him. But I was
like, I know that I can work four years
on something without anyone knowing
about it before revealing it. And I
think about it a lot like the Olympics.
So people will train for four years to
have 10 seconds where the world sees
them. And what's interesting is that
people see those 10 seconds and assume,
okay, 10 seconds when they ran, maybe
it's, you know, a hundred times that for
how much they worked. It's just not
really fathomable for somebody who
doesn't even know how to work long and
hard to think about how much effort that
really takes. And so when I was in the
thick of it, I just kept thinking to
myself like, man, this is so much work.
And then I thought to myself like, yeah,
no one has ever done this before. So, no
one has ever done this before. Of
course, it will take that much work. Did
I expect to do something that no one had
ever done before with a level of effort
that had been repeated many, many times?
Of course not. The amount of times I had
to doublech checkck every single email
flow from every single potential
combination. It was 400 pages of copy.
There was more copy written just in the
emails than words in the book. And then
every single VSSL, so video sales
letter, I had six of them. Every single
one of them painstakingly crafted where
I have to say, I got to get it shorter.
I got to get it shorter. But I have to
stuff more in here. I got to get it
shorter. How can I put more visuals? How
can I put more narrative in it? How can
I How can I minimize the downside? going
to express more of the of the upside
potential of this particular thing. And
then as I was creating the slides,
right, for for the webinar, I wrote out
every single word first and then went
through multiple passes of editing. And
then after editing the actual words,
every single word that was said was
prepared. And then those words had to
get on the slides. How many? 1,700
slides. How much AI was used in the
making of those slides? Zero. Me.
Because as of right now, there's nothing
that makes slides like me as of yet.
Maybe there will be. Currently it
doesn't not the style I like. And so I'm
there pasting these things. I was like,
"Holy [ __ ] this and then I was like,
"Okay, well, I also have to have a
visual on every single slide." I did use
AI for the visuals, but I had to go
through that and you're like, you're
like 300 slides in and you're like, "Oh
my god, this was 2 days." And you're
like, "I have I have another four I have
another 1,400 slides to make." And
that's just for the that's just for the
webinar. That's just for the first part
of day one. And then I've got I've got
the prep that I have to do for every one
of the interviews. And then I got to
talk to every one of those guys and tell
them what I'm going to say and then make
sure I can steer the conversation way
that's interesting to the audience and
then also still promotes the book and
the other stuff. And so with each of
these things and even when I when I when
I had the the playbooks, right, when I
explained those, I practiced being able
to walk, say the slide, and position the
props at the same time. You think, oh,
well, that that just looked normal. It
was like I had to do it 50 times, a
hundred times so that I knew that when
the the screen would come on, I would
pull I would reverse order. So I'd put
the the letter in my pocket. I'd take my
hat from underneath my arm. I'd pull it
back up. And then I would say, "Business
owners, money makers, ballers, can't
remember what it was. I made this for
you." And then I transition to the
second part. Right? And so at every
single one of these points, I had to
practice all of it over and over again.
And I was just like I just kept
thinking. I was like, "No one will do
this." I was like, "No one will do
this." And the reality is that you will
not get credit for the work you do. You
We have this desire, at least I do,
maybe on some level, that I want someone
to stand next to me when I'm working and
just be like, "Great job. Great job
today, Alex. You worked super hard." No,
you don't get that. Like, you have to be
that person. And so it comes down to and
I and I say this a lot but it's because
it's like it's what gets me through this
is I always ask myself I'm like what
kind of man do I want to be? And so when
I'm in that I'm like am I the man who
will cut the corner? And I'm like no I'm
going to [ __ ] do it right. And it's
like right get back to it. That's it.
There's no parade. There's no applause.
There's no confetti. It's like the work
needs doing and it's either me or
somebody else. And this was a a project
of love. I was like, this is something
that I had wor I mean the first all
three of my books were actually written
at once. So you you want to talk about a
long-term plan. I began writing these
four plus years ago and it was one Mondo
book and then I thought wouldn't it be
amazing if I could culminate the $100
million series with $100 million launch
but each of the three books had to had
to represent what the concept of the
book was about. And so I have had this
waiting for four years before I could
share it. And so I think like I like
telling yourself in your mind the story
that you're going to be able to someday
tell when you're going through the rocky
cut scene allows you to take the licks
that you're going to take during that
period where no one is watching because
the winning always happens when you're
alone. People only get to see it when
you when you when you demonstrate it.
But the demonstration, the 10-second
race, the one fight, the me getting on
stage and doing the presentation, that
is a microcosm of what it actually
takes. And it is one of those
unfortunate things that no one will ever
be able to observe it because the amount
of time it would take to observe it
would be the amount of time it took to
do it. Unless someone else is going to
wait for four years just to see that,
you just have to guess. And so, no one
will ever know how hard you worked and
no one will ever care. And so you have
to create another game or another story
that allows you to succeed even when no
one else cares. Which is why you have to
be the one who who cheers for you when
no one else is watching. Just know that
no one will understand. And that's okay
because you know and you're the only
person whose respect you need to earn.
And you're also the hardest person's
respect to earn because you know when
you're bullshitting you. And so this is
also me talking to the winners right
now. you being the best one in your
state, the best one in your high school,
the best one in your in your in your
company, in your division, in your
department. That's a low bar. I can't
remember where this quote is, but I
think I think Leonard Vinc Da Vinci said
this actually. I think he said something
to the degree of like the curse of the
winner is not that he he aims too high
and misses, but that he shoots too low
and he achieves his go his goal. And I
think that you can't have your own
respect if you know that you left some
in the tank. Which is why going bigger
and asking yourself, am I capable of
this? Is the only way that you can ever
truly see? And you can only do that if
you're willing to fail. Hey, and real
quick, I spent 200 hours this year just
making this one project for you, which
is the $und00 million scaling road map.
And I broke up the stages of business
into 10 stages. And you can identify
where you're at by simply just putting
in your business information. You go to acquisition.com/roadmap
acquisition.com/roadmap
and it'll spit out this custom report
that tells you what the constraints are
at that current level and what you need
to do to graduate and get to the next
level. This is our gift to you
absolutely free. On the thank you page,
you can book a call with our team and
we'd love to help you uh figure that out
and ideally get past it. So number four,
you have to take care of people who work
in your company's personal life so that
they can succeed in their professional
life. So, I'll tell you what how this
manifests in reality. The biggest one is
if someone's spouse or significant other
is not a fan or supportive of the job or
the work that they have, they will never
achieve their potential. And it's it's
sad. It's unfortunate, but and it may be
controversial for some of you, but I
have yet to see it. If you have a spouse
or a significant other, somebody you
live with, someone who's like your other
person, and they're they're not like
even if they're neutral, you will not
achieve your potential. Honestly, I
don't even think close, not even close
to your potential because I think at
least I'll just speak for men, being
good on the home front allows you to
have full access to your brain so that
you can go after the hunt. Right? If
you're worried about what's happening at
home because you know that when you come
back there's going to be bitching and
moaning or like, "Why are you working?"
Oh, it's just it's always another
another tough season. It's always going
to be it's always going to be busy. If
you have that in the back of your mind
or in your ear, it's like you start
pulling your punches. You start cutting
out early. You start you start avoiding
taking on the bigger projects to take
the slightly smaller project. You don't
set the bigger goal because you know the
effort that it's going to take to hit
it. And so you just say, "Well, this is
an adequate goal." And I want to be
clear, nothing wrong with that if you
don't want to see how far you can go.
And not everyone does, and that's fine.
But when I think about the people in
this organization, I have taken more and
more attention to making sure that their
personal lives are supportive, their
environment is conducive to them doing
the best work they possibly can because
I want people to be able to do their
life's work at acquisition.com. I want
like think about the record I just
talked about. When someone is 85 years
old and looking back on their life,
there are very few moments that you
actually remember, right? Like you don't
remember the vast majority of life. you
just a couple moments that spit out and
like when you get I'm sure when you're
much older you might only remember like
one moment from a year. Think how crazy
that is, right? And so I got to say
truthfully to the team when you're
looking back on this part of your life,
you will be able to say that you made
history and there's not that many days
that you get to do that. And so making
history though only happens when you've
got every single thing aligned and luck.
And so to think to be arrogant enough to
believe that you're going to overcome
your your conditions that you've set up
for yourself and you've got somebody
who's not supportive versus somebody who
does, good luck. But that was just it
was a it was a big it was a big lesson
for me and that I'm paying attention to
that from a team perspective of who's
got supportive uh environments at home,
who's got supportive spouses, and is
there ways that I can help them get the
support of their spouse so that I can
unlock their discretionary effort
towards the goal. And I will say that
making sure that if you do have super
hard workers in your team, hard workers
will run themselves into the ground when
the goal is big enough. And so they will
usually look to you to see when to rest.
And so you have to be willing to be
like, "Take the day, dude. Take the
weekend, unplug." And then usually, I've
just seen, this is me personally saying
this, I think that when they see it from
above or see it from the person who
they're quote rolling into or
responsible for, getting managed by,
getting led by, they can actually unplug
for a couple days cuz they're like,
"Hey, he asked me to chill out. I'm
going to chill out, right?" And I think
that it's it's your responsibility to
have a gauge on where people are getting
close to cracking and and doullling
those out. Number five, think for
yourself or the world will think for
you. So this is one I thought a lot
about which is to be unique you need to
have high agency. And so agency is
essentially being able to reason for
yourself from the things that you can
observe or have observed. And so at the
lowest levels it's being able to say
that you like a person, a show, a movie
that most people don't like. It's
thinking for yourself. Most people, and
here's where it gets really interesting,
most people pick their identities off
the shelf, right? They come they come
with pre-anned beliefs. They have a set
of apparel that they wear. That's that's
the fashion of this guy. Oh, I'm a
hipster, which means I have to have
gauges. I have to have one of those
beanie hats. That's a small thing. I
wear black combat boots, you know, black
things with a chain, whatever. Cuz I'm a
hipster. And all my beliefs are going to
be what hipsters believe. And or I'm a
I'm a redneck. And so I'm going to have
flannel and I'm going to wear a trucker
hat and I'm going to have jeans and I'm
going to have super conservative views
on X, Y, and Z and whatever. I'm going
to live in the country and I want a
ranch. All right, there's nothing wrong
with doing that. It's just that most of
the time when you pick your belief set
and you pick your personality off the
shelf, the reason that you do that is
because you didn't actually reason for
yourself. Meaning there's probably not a
100% of hipster world views that you
agree with. There's not a 100% of
redneck worldviews that you believe with
if if you believe in that that if that's
you, right? And so if you actively think
about all the components of your life,
which is like what shoes will I wear?
Why do I pick these shoes? What makes a
good shoe for me? Why do I wear these
shorts? What makes a good short for me?
Why do I wear this shirt? As silly as
that may sound, you choose every single
component of your life. And you either
choose to live it by default or live it
deliberately. And the people that are
interesting typically have multiple
components that they reason for
themselves that get put into one box.
And so then when people see them, they
double take because they're like, "Wait
a second. These pieces don't go
together." And what does that do? It
makes you interested. And so let's say
that you have the body of a meatthead
and you dress like a redneck, but you
quote ancient philosophers and you're
also extraordinarily wealthy. That's
weird, right? That's odd. And so if
that's you, then you will probably
attract attention. And so a lot of
people want to live a unique life, but
they take all their decisions from
pre-anned boxes off the shelf, out of
the box. And so I think that asking
yourself, what do I want? And does this
thing help me get it? Are the questions
that begin to lead down the path of
agency? Because if you approach every
component of your life with that lens,
you'll often find that the things that
you took off the shelf don't. the
politics you you vote for, the people
that you the the the sports teams that
you root for, all of this stuff that
you've built your life around, not at
all. And so having high agency is higher
cost in the short term because you
actually have to make these decisions
and also suffer the rejection of
decisions that other people who might
all dress like hipster not agree with
because you didn't take the same belief
out of the box or off the shelf as they
did. But it's lower cost long-term
because you don't find yourself 10 years
down the road wondering how you got
here. How did I marry this person? How
did I start this business? Why am I
dressed this way? Do I even care about
this stuff? Why do I vote like that? You
got here because you never questioned
your decisions and just went with the
flow. You went with what everyone else
was doing. But everyone else is unhappy,
mediocre, overweight, in debt, and
divorced. Why would you be like them?
And so the only way out is by turning in
words and saying, "What do I want? And
does this thing help me get it?" And if
the conclusion that you come to is
different than everyone else's, great,
because you don't want to be like them.
So you should hope to find discrepancies
between what you decide and what other
people decide because it means you have
begun the path of thinking for yourself.
Maybe you like a movie that your friends
don't like. Instead of saying, "Oh, I
mean, it's okay." Don't hold back. Be
like, "I think it's a great movie."
They're like, "Well, you're an idiot."
You're like, "Okay, I like that show.
That show's trash. Okay, don't watch it.
Like, that's it, right? Oh, why do you
wear such lame shoes? Why do you wear
jean shorts, Alex? Why did you wear the
little sandals for two years that I wore
that were really weird because at the
time that those shoes served what I
wanted. I wanted cuz I was at the beach
a lot cuz Leila and I were traveling and
so I was like, I want something to go to
the gym. I want something to go to the
pool. I want something to go to the
beach. I want something that can climb.
I want something to go to a restaurant.
That's why I was close to close to
shoes. It gets me everything I want.
Great. Alex, it doesn't look cool to
who? Who does that look not cool to?
Girls, I'm married. I don't give a [ __ ]
Who does that not look cool to? GUYS,
WHY DO I CARE WHAT THEY THINK, RIGHT? I
I don't even know how to say it any
different. Like, why would I care about
any of that? They're not walking in my
shoes. Quite literally, these are
comfortable. And if you don't like them,
wear whatever shoes you want, right? And
so I think that when and this actually
has a tie into marketing which I think
is important which is like if you want
to make content you want to you want to
build a brand of some kind the brand has
to get built from the bottom up. You
have to reason from that perspective.
What do I want? Does this help me get
it? And when you think that way you'll
actually be able to build a unique brand
because no one will have the same exact
life experience as you. And when you do
that is what creates the unique
combination and you'll be able to defend
why you believe what you believe.
Because if you cannot explain why you
believe what you believe you believe
what someone else told you to believe.
and you never questioned it. Number six,
a hard conversation up front can save
you millions of dollars and years of
life. So Rockefeller said this, which is
a friendship founded on business is
better than a business founded on
friendship. So the big thing here is I
used to say I used to hear people say I
only can do business with people via
handshake. And people that I just met
when I was really young were like oh if
we have to draw a contract I don't want
to do a deal. And I was pressured into
doing handshake deals when I was younger
with people that were quote more
experienced because I didn't want to
seem, you know, disintegrous or
unintent, right? A dishonest person. Oh,
I need a contract. And then I just
realized they were complete scoundrels
and full of [ __ ] And so then I went the
other extreme, which was like everything
has to be in contracts, which I think by
and large would serve you really well
for anybody who's starting out your
first 10 years in business. If you do 10
years of business with someone, you will
be able to get to the point where you
can have handshake agreements. But you
do not extend trust to someone who has
not earned it. And I think that there's
different levels of this. If an employee
comes to the business, of course, like
you you have to extend trust, right? But
if we're talking a business partnership,
well then like we should have a track
record here. We should have a a large
data set of behavior that I can look at
in different circumstances where I know
that you will behave in this way. And so
for me, trust is believing that the
person will act in ways that are that
are similar to the way they have
continued to act in the past, right?
They are consistent. And I want to be
real with you for a second. So I said
this year was a tough year. I had eight
lawsuits this year, right? And most of
them were at the very beginning of the
year and I dealt with almost all of
them. And here's the part that people
won't tell you. All my lawsuits have
been with people who were friends of
mine or friendly. And if you're like,
"Huh? Well, I can't believe that he
would get in arguments over his friend.
What do you think divorces are? Right?
Like, we humans think that we're somehow
immune of like, "No, I'm really cool
with this guy. We're best friends. I
don't think we're ever going to get an
argument." Okay. Well, consider this.
People who sleep with each other for
extended periods of time make life
commitments to each other half the time
end it. So, if you think the most
important relationship in your life
where you're sharing everything with
this person, you're committing to
forever, half the time it ends, maybe,
just maybe, write down a [ __ ]
contract. And the reason that I I
honestly had a lot of these lawsuits is
because, and the thing is is it takes
years for these things to come due,
right? Like you have a business thing
that was 6 years ago and then the thing
finally really starts to make money and
then you have a conflict, right? And so,
you have to deal with all the
uncomfortable stuff upfront. And I just
so strongly encouraged you to like those
contracts. I avoided hard conversations
and was like, "Ah, we'll figure it out
when it gets to that." And we both
didn't want to talk about those things.
We didn't want to we didn't want to mess
up the friendship. It's like, bro, if
you think you can't have a hard
conversation when there's no money on
the line, just just assume that you will
be in a lawsuit for many years. Just
assume it. And if you're not willing to
have that hard conversation up front and
you willingly will go into having
multiple years of lawsuits on the back
end, then you deserve it, right? And
it's so avoidable and it's likely that
it's not going to work out because one
or both of you can't have hard
conversations, which is required for
success. And so I unfortunately have the
scars for this one. The contracts that
I've done in the last couple years are
significantly better than the ones that
I did six, seven years ago, but those
are the ones that are coming due now.
And so the time that you should have
great agreements was 20 years ago. The
second best time is today. So just start
with the frame of like, hey, I want
everything in in writing just so we have
no misunderstanding so there's no
unspoken expectations because the last
thing in the world that I would want is
that I would disappoint you because you
expect me to do something that I was
unwilling to do or that I didn't know
you wanted me to do. And so you can
approach from that perspective and then
you have to say, "Hey, what happens if
you don't want to be a partner with me
anymore? What happens if I don't want to
be a partner with you anymore? What
happens if you die? What happens if I
die?" Right? Right? What happens if we
disagree on where we're going to put the
money? Right? What happens if we
disagree if we're going to sell? These
are all things you have to talk about.
And so, you either do it now when
there's low stakes or you do it at the
end when you both have high stakes. And
I can promise you it's much better when
there's low stakes. So, there's a really
cool concept. I think Shiron said this
and I really like it. He said, you can
you can see what level of friend you
have by the things that you talk about
with them. So, he had five levels of
friends. I really love this. And I would
use this as a litmus test for thinking
through the quality of the friendships
that you have in your life. The lowest
level of friend is someone that you can
only talk about the past with. Oh, the
good times we used to have. Oh, remember
high school past, right? The next level
friend is somebody who just talk about
other people with. Oh, how's so and so
doing? How's Let's talk about that
person. Let's talk about that person.
Aka kind of gossiping. But that's what
it is. Level two. Level three friend is
someone that you can talk about ideas
with. Oh, wouldn't it be cool if Oh,
isn't it amazing? You can dream, right?
ideas, concepts. The fourth level of
friend is how you can tr somebody you
can do stuff with, you can talk those
ideas and actually execute, you can take
action, you can do things together, etc.
Fourth, and then fifth is friends that
you can make, lose, and spend money
with. And I believe that because for
whatever reason, money is just one of
those subjects that I think it just
shows how I mean, it shows how someone
behaves around a reinforcer and what
someone values. It just kind of cuts
through the crap of everything. And so
like Shiron for example is our
president. Shiron and I have done deals
together for like five plus years and we
really started almost as to use the
Rockefeller quote like we are a
friendship founded on business and it
has worked out great compared to most of
the businesses I founded on friendship.
And so we've just done lots and lots of
deals together. We've had ups, we've had
downs. We've made big calls and I just
have seen him in all the ups and downs
of those years and he's seen me and
we've been like let's do more stuff
together because it's so rare. And so at
this point, could I have a handshake
agreement with Chiron? Yes, totally. And
we do have them on lots of different
deals. On the really big stuff, we still
write it out. Why? Just so we're on this
literally the same page. And so I was
just reminded of that this year, and it
would be I'd be remiss to not say what I
learned from the eight lawsuits that I
got in this year. Those are my big
takeaways is that know what level of
friend you're with. Make sure that you
put everything in writing, and you want
to frontload the discomfort. Number
seven, do more than what is required. So
I said this was a legal year and so part
of this was looking into compliance and
other things that are kind of risks for
any business as you get over a certain
size because the bigger you are the
bigger the target that's on your back
and so if you wish for success you also
wish for the pains that come with
success and as much as many people want
to say like ah champagne problems or
rich people problems they are problems
nonetheless and I promise you they are
still painful and so I would say you
want to go above and beyond. So what's
interesting is you also want to become
educated right ignorance is not defense
real if you don't know a law exists it
does not exclude you from the
consequences of it and so in realizing
that you have to be proactive in
learning the laws of everything that
applies to you which is there are a lot
of them and now with AI they can
summarize some of these things but like
I almost I got like a a law degree this
year on public private I just had a lot
of law that I had to go through and what
I will say is that as much as people
might you know poo poo it I think buying
By and large, most laws are written with
one, good intent, and two, when you
really follow the letter of the law, it
kind of makes sense. And so, I want to
crush everyone and play by the rules.
And so, once you know the rules, then
you can you can almost play with more
freedom because you just know where to
avoid, right? Or what to what to
basically you have to know what the
rules are. I don't want to say so you
can bend them or break them because
obviously that's we're talking about
law. So, just leave it there. But you
got to know the rules of the game that
you're playing and the law as far as
we're talking about business. Those are
the rules of the game. And so, how can
we get into the game and try and win? We
don't even know the rules we're playing
by. And so, that would say that to me it
was like a a big thing that happened
this year that I would encourage you to
just look at the laws that apply to your
specific business or industry or
partnerships and be very well acquainted
with them to the same degree. Also,
rereading the contracts that you have in
like your employment agreements, your
partnership agreements. It's just good
to know like what what what tools do I
have at my disposal right now and what
expectations are do I do other people
have of me that I'm unaware of and that
was hugely enlightening and also that
has just allowed me to sleep so much
better and knowing these things has
allowed me to take what would otherwise
be very stressful I mean imagine eight
lawsuits a lot of lawsuits right
something that would have otherwise been
very stressful and say okay I understand
the variables we will take these actions
I don't need to have any more cycles on
this next thing cuz that's where the
lawyer the lawyer stuff will eat up your
bandwidth It eats up your shower time.
It eats up your dinner time. It eats up
when you're staring out the window, when
you're driving in the car. That's the
cost of being in legal battles. But if
you can minimize the cost of that by
saying, "I understand where the conflict
is, and I know what steps I'm going to
take and I have documentation to provide
these things, you can you can actually
circumvent the vast majority of the pain
and suffering that goes along with,
which gives you a significant strategic
advantage when you're in extended
conflicts." All right, so next one. This
one is probably a little bit more around
my current stage of life, but this is um
I mean that's what this is about. Right
now, I'm shifting the way that I'm doing
work, which is pretty significant. And
so, I will first put the disclaimer out
there that you want to model the rise,
not the you know the the the peak part.
So, to use an example that people can
understand, you're not like, "Oh, I want
to get rich, so I should fly private."
Don't fly private to get rich. It's
something that people do once they are
rich, right? If you want to get tall,
don't play basketball. It's just that
tall people play basketball. Very big
difference. All right? And so this is
the first year in my life where I hit I
hit my financial goals. Acquisition.com
crushed it. Portfolio companies crushed
it. Launch crushed it. Like we did
really well this year. This was the
biggest financial year that I've had in
my career, including the years I've had
exits. And in light of that, I actually
feel for the first time in my life that
I have enough. And I know that sounds
ridiculous to some people. How could
this now be the enough number? But I
would say that I have always had bigger
goals than most people. But I also feel
like I know when enough is enough for
me. They just happen to be bigger than
most people's goals. I do not have a
permanently moving goal coast goalpost.
Like for example, I tend to be a little
bit more muscular than most people are.
But I got to a point where I was at 245
and I was like, "This is a bit much.
This is pretty big. I don't need to do
more than this." Now, some people are
like, "Oh, he's got to get bigger.
Always got to get bigger. I don't have
that." I was like, "There, this is
enough. This is I'm more muscular than
most people even want to be, but I am
muscular enough. And so to the same
degree, I probably have bigger financial
goals than most people have, but I have
finally achieved the things that I
wanted to. Now, what am I going to do
with the business? It's not like I'm
going to end them. It's just that the
way that I'm playing the game is
changing. And so, I'm I'm relaying this,
so this may seem like flashing news, but
I am now shifting to planning my
personal life first and allowing
business to fill in the cracks. And I
have such strong reinforcement cycles of
having worked for so long, so many hours
that I just I have to unlearn how to
work all the hours of the day. I wish I
could say it's discipline and all that
stuff. It's like I've been rewarded and
reinforced for doing this for so long,
but it really is less effort for me to
work all day than it is to stop working.
And so that's kind of the the path that
I'm in right now. And when I observe the
people who are going from you know a
billion to 10 billion or 10 billion and
beyond you get past a point where you
will be compensated for the quality of
your judgment not the quantity of your
work. And so I feel like for the first
time my life I have crossed that
threshold for me is that there there is
significantly higher leverage in my
ability to pick and make correct bets.
And if that becomes the highest leverage
work that I have, then I have to
reorient my life in a way that maximizes
the quality of my decision-m which means
that I probably will travel more. Why
would traveling help the quality of my
decision-making? Well, I'll gain more
perspectives, more filters, more
positions to consider a decision
through. I will probably see more people
than I have seen in the past because
their perspectives will also help color
and shade in the edges, give more
dimension to the decisions that I'm
trying to make. Me, I'll probably try
and I'm trying to prioritize sleep a
little bit more. Now, I've I've never
not prioritized sleep. I just like I
sleep until I can and then I work,
right? But I will probably be more
proactive in doing some of those sleep
hygiene things that are a little bit of
a pain in the ass that can get you that
10% or 20% more. I'm going to be doing
that now. I will probably have more time
that I will unplug on the weekend so
that I can let my mind wander so that I
can think of kind of out of the box
ideas. And this happened just recently,
like two weeks ago. I I had my EA team,
they've they've changed my schedule a
little bit so that there's even more
free time than there was before, which
there was already a lot of free time.
But free time for me does not mean that
nothing's happening. It just means
there's nothing planned. And so because
I had two days like back toback, I
believe having an empty schedule allows
me to do that which matters most. And I
believe that the time of the CEO or the
time of the founder is the most valuable
asset or resource in the business. And
so why would I not want the best
allocator of the most expensive asset to
be me? And so that's how that's how they
have blocked for me so that I maximize
my free time. Now in that free time, put
together a deal that will make us more
than we probably did in entire revenue
this year. And I did it in basically one
day with six and a half hours on the
phone calling different people just
because I had slept well. I had the high
I had the lowest resting heart rate I
ever had. And I had the best like sleep
score I gotten in it was a record in my
entire life. It was the best. Well, the
score would only go to 100, but like my
resting heart rate and my HRV were the
highest and lowest respectively they'd
ever been. And I was like, I feel like I
can see color today. And that quality of
decision-m at this point is the best
strategic decision for me. And so in
some ways, maybe I still have the same
objectives and I'm now just orienting my
life to now do the next version of what
success looks like or what I have to
change in order to become the person who
can lead this company to where where I
think it can be to help the most people.
And so that is what you will see kind of
going forward. And I have not I have
been in the stage that I was at from how
I worked for the last 14 years. So this
is a pretty significant change for me.
But I will be putting my I'll be
planning my life first and then business
will fill in the cracks. So really
powerful frame that I've been thinking
about a lot has been what do you want to
have happen and what increases the
chances of that happening. So here's the
next lesson. Two frames for
reconsidering the hard decisions and
conversations that you have to have. So
let's say someone does something that
you don't want them to do. They say
something bad, something happens, right?
something that I you have an innate
reaction which is that typically it's
something called it's a it's a
countermeasure right so if someone
punishes you in some way you want to
counter punch them back you want to
counter control you want to punish them
so that you want to punish them even
more so that they dare not punish you
right but when we think about these two
questions which is what I want to have
happen what do I want to have happen and
number two what increases the odds of
that happening often times your initial
reaction to what you want to do is
almost antithetical to what you want to
occur and what increases the chances of
that happening. And so, for example, if
someone says something bad to me online,
I might have the immediate desire to go
punish them publicly, right? What do I
want to have happen? I would like this
person to move on with their lives and
forget that I exist. That would be what
I would want to have happen, right?
Realistically, what increases the odds
of that happening? Does me interacting
with them, reinforcing the fact that
they said that increase those odds? No.
I increase the likelihood that that
person hates me even more and does even
more to try and damage me. So that would
make my problem worse, not better. And
so that is just a two-step decision
frame that I continue to use more and
more and more, especially with
interpersonal relationships. Hey, this
employee is doing a bad job. I want to
yell at them. What do I want to have
happen? I want them to do a good job. Do
I think yelling at them will increase
the likelihood of that happening? No. I
think they'll have more anxiety and
they'll probably decrease their
performance. Okay, so that's not going
to work. What do I want to have happen?
Okay. Can I reward or publicly give them
status for the one thing they've done
well so that they can see some positive
loop and then maybe they will do more of
that thing? That probably does increase
those odds. So, I'll do that instead
even though I want to punish them for
being a [ __ ] right? And so, what's
interesting is that when I ask myself
those questions, the thing that
increases the odds of me getting what I
ultimately want rarely is what I want to
do or at least is rarely my initial gut
reaction. And when I look at how most
people live their lives, they live their
lives from gut reaction to gut reaction
to gut reaction and then
counterreaction. And they're just
responsive. All they're doing is just
like they're like seaweed in the ocean.
They're just moving and they have no
direction. They're just constantly going
back and forth, right? And they're never
getting what they want. And they think
that life is chaotic. But when you
actually ask yourself those questions,
you typically can guess, no, I don't
think that's actually going to increase
the likelihood that happens. I think
that person is going to hate me more if
I do that. Right? Then why will you do
it? Right? And so often times when you
have those when you use those two
razors, one of the most common things
that comes up and it's now become an
inside joke for for me and some of my
friends is doing nothing at all is often
the most productive thing to do in those
situations. And so it has now taken on
this inside joke of the heavyweight
champion of the world, which is that
there's all these different potential
actions and the heavyweight champion of
the world is do nothing. And that one
almost always wins because what should I
probably do? Keep doing what I'm doing.
keep on my business, focus on my
marriage, focus on doing good work, and
ignore the rest. And what's interesting
is that it is physically efficient but
emotionally painful. And so that is one
of the I would say one of the one of the
the artifacts that I've collected this
year. So number 10, more better, new.
Now, this isn't going to be a new
concept for anyone who's listening to my
stuff, but I will have a slightly
different take on this. New is
incredibly risky. And so this is the
best analogy that I've I I visualized
this year that I'm probably going to
take with me for the rest of my life,
which is I want you to imagine here we
go. Actually, look at this. If I have
these these candies, all right, and I
throw them all over the place. If I keep
doing this, how likely is it that all of
them are going to end up in the exact
position, separated by color and stacked
together? Very unlikely. I would have to
hit refresh and keep doing that many
many times until eventually all of these
are lined up, stacked up on on each
other super nicely in a way that's
organized. Right? This would take a lot
like could it happen? Of course it
could. It is statistically possible. Is
it likely? No. And so when you think
about this, this is six pieces of candy,
right? There are variables within your
business that create the business that
works, right? And so when you have your
business and it is stacked, it is
working, it is generating revenue, the
likelihood that you changing one of
these variables makes the building or
makes the stack or the business better
goes down. And the taller the stack is,
the more evolved your business is, the
more bricks in that building have been
properly placed. And so the higher the
likelihood the next move is the wrong
move if it's something different. So
I'll give you a marketing version of
this. If you have something called a
control and you have a variant when you
run a split test, AB split test. If you
have a control that you've run 36 split
tests on and it has won 36 of those, it
is the number one control. The
likelihood that you changing that
resulting in an improvement is low. And
so if you think about your business as
it currently stands is there's many
different ways to align these variables.
Almost all of them are not profitable
businesses. You happen to have one that
actually works. And so if you have that
then the highest risk adjusted move that
you can make is that you do more of the
thing that already works. I will keep
doing more bricks in this order because
that has worked before. Right? You might
try and do better which is a tiny
variation off of what you're currently
doing. But something truly new rarely
works. And so and it also usually takes
the most resources. And so for us, if
we're going to do something new, I give
myself one new thing a year. One. So
what was the one new thing this year? It
was the book launch. That was this year.
Next year, you'll find out what it is,
right? But I get one. And it's because I
know what the tremendous drain of
resources is. One big thing, one new
thing. And so I would say that the
bigger the companies that we have, the
more resources we have, the fewer new
things we're doing. Because when you
when nothing works, you want to hit
refresh as many times as you can. You
want to do lots of new [ __ ] cuz
nothing's working. But as soon as
something works, then you start to have
direction. You want to have less and
less deviation from that, unless you
really believe there's an existential
risk that would require you to change
everything, which is significantly less
likely than you really think it is. In
fact, I would say many business owners
will destroy their businesses in reality
for problems that they have manufactured
artificially. Problems that have not
even yet occurred because they are
afraid of them happening when in reality
when that problem happens, it's not
going to happen overnight. And you're
going to have some some some heads up
probably. And for those of you who are
old enough to have businesses during co
so if you had business at least for at
least for five years, right, or six
years, you know that you'll survive.
you'll adapt just like you always have.
And so do not try and change the
business to solve problems that do not
exist because there is more than enough
problems that absolutely do exist today
that you should be solving. And so going
back to more and this has been something
that's been just I feel like I've got
another layer of paint on the more
better new is that often times the
highest return question is why can't I
do more of the thing that's working?
Now, there's usually a much deeper,
harder problem that you have to solve
once you do the easy moores, but there's
always a way to do more than you
currently are. And it's just that once
you realize that the level of difficulty
of what it takes to do the next more is
harder than doing something better or
new. So, instead of you bucking up and
and and saying, "I'm going to focus on
this very hard problem," you then
distract yourself with reasonable
problems that no one will blame you for
solving. Because the biggest risk to the
business is not like a stupid decision
because those are unlikely to actually
occur. The real risk to your business is
the second, third, and fourth most
profitable things that you could do
rather than the most valuable thing that
you can do. This was a very important
lesson for me this year. And so when you
get clear on what the harder question is
that you need to ask of why can't I do
more and now it's getting hard for me to
do it. Then we have to remove every
distraction that you have that makes you
think about anything besides solving
that problem. That's it. And sometimes
the answer to that hard problem isn't a
one week, a 4 week or 4 month solution.
Sometimes you realize that your culture
is [ __ ] and you have to fix the
culture and that's going to take you 18
months. And when you're 6 months into
it, things will feel worse than they did
when you started. But it doesn't make it
any less of the correct decision for the
business. It just means that your
reinforcing event or the reward for the
work that you're going to have is far in
the future. And it doesn't mean that 6
months in you should now change course
because it hasn't started working yet
because you knew when you started and
you realized that this was the true
constraint of the business that this was
going to be a long and painful road
ahead of you. And so you do not want to
then solve try and come up with a new
solution when the first solution never
had time to bear fruit because sometimes
the most productive thing you can do in
the business is give time time. Let the
solution actually work. This has been a
very hard lesson for me many times as an
entrepreneur and I just want to pass it
to you because many of you guys have
many half-built bridges. You you had a
way to get across but you knew it would
take four months but one month in you
were still suffering. You thought well
maybe I'll do this but it's like you
never let the first bridge get finished.
And so in a real way for me, I realized
that I needed to build a brand. I've had
I'll give you two examples of this. So
one early days of gym launch, Leila and
I realized that we had an entire tier of
directors that were not competent
enough. And so over the next 12 months,
we had to turn 11 out of 11 directors.
Very painful. And when you turn
directors, what do you think you also
have to do? Sometimes you have to turn
the teams underneath because they had a
low bar. And so they brought in a lot of
low bar people. There was obviously some
good people they brought into, but like
very very painful process. Kind of
killed morale for that whole year. But
we knew that we weren't going to be able
to grow the business because the level
of skill of that team was not sufficient
and we our bar was too low and
unfortunately we can't fire ourselves
and so we had to do the next natural
thing. That was very painful. 6 months
into that culture is worse and we
haven't turned the whole leadership
team. Was it the wrong course of action?
No. Should we change course? No. But it
means that you have to learn to suffer
because sometimes the correct growth is
the most painful path because the
highest leverage move often is the
hardest problem that you're not choosing
to allocate attention towards solving.
In a more recent one, I was at 30 to 40
million a year for 3 years for gym
launch. And the big aha that I had was
that I needed to build a brand and that
took years. And so when I went into it,
I was like this I will have to keep
doing this for many years before I'm
going to bear any fruit from this. And
my income when I made that call went
down for the first two years by a lot.
And so I think you have to be willing to
stomach that period of time or you will
never be able to do the real solutions
that are really going to move the needle
because most business owners will do the
second, third, fourth thing, the
incremental improvements rather than the
order of magnitude changes that
typically take order of magnitudes in
terms of time and effort. So number 11,
it's okay to just make money. So hear me
out. There's something that I like to
call the third marshmallow fallacy. And
so it goes like this. So many of you
guys have probably heard about the
research study of like, okay, we they
videotaped kids and they said, we'll put
one marshmallow in front of you and then
if you wait, you know, whatever, 10
minutes, we'll give you a second
marshmallow. And the kids that wait, you
know, 10 minutes, they're more
successful in life because it's, you
know, proxy for your ability to delay
gratification. Okay. What's interesting
about that is that people then assume
that delaying gratification is always
the best course of action. And this is
why this is a very interesting lesson.
If you delay gratification indefinitely,
then you will work your entire life for
nothing because you have delayed
gratification and then you will die.
Said differently, if you were the ant
that always saves up your money for the
winter and you keep saving and keep
saving, keep saving and then you die,
you have a big stack of crumbs that you
will never have done anything with. And
so the question is no longer like once
you have learned to delay gratification.
So this will be me talking a little bit
more to the winners in the room. Once
you have learned to delay gratification,
you then have to learn the even harder
task of the appropriate time to accept
gratification. Real. So this is
incredibly difficult especially for
winners because in the earlier part of
your career you be you get reinforced
you get rewarded for delaying
gratification. And often times it is
there is a dose relationship as in the
longer you delay the bigger the outcome.
So you just continue to learn to delay
more and more and more. But there is a
time where it comes to reap because you
cannot sew forever. And so I was having
a conversation with a friend of mine who
was like, "Hey, I don't want to do this
thing because it's not going to add
enterprise value." But the amount of
money that we were talking about for
this particular deal was like hundreds
of millions of dollars. And I wasn't
even that confident that the the other
thing was going to happen and it would
be like 10 years in the future from now.
And so we need to allow some risk
adjustment for outcomes to make their
way into the decision. If you can get
paid today versus getting paid in 5
years, there is a value to that money
because you have five more years of
being able to use those resources to
acquire more resources. And so I would
say that something that has shifted in
me particularly was that it's okay to
make money. Like you can also just make
money for the sake of making money. And
I think that's fine. And I'll say this
differently, which is like in a business
perspective, let's say that you have a
service based business or you have a
software business, whatever. And you
don't want to sell your own time
one-on-one. Totally okay. And you you
don't want to do it because you do not
want to get any revenue that doesn't
have a high multiple. Okay, that's fine.
Well, let me tell you the story. So,
when I started my first gym, I had one
personal training client who paid me in
cash every month. He paid me about
$4,000 a month in cash for personal
training. I did it was like 90 minutes a
day, 5 days a week. So, it was a lot of
personal training. But that guy giving
me that cash every single month, even
though it was not scalable, it was not
something that I could sell someday.
That money paid for me to eat, right?
And it allowed me to delay gratification
on the rest of the business. But
somebody who would be a purist of like,
well, you shouldn't you should eat even
more [ __ ] you should, you know, you
should suffer even more during that
period of time would have said you
shouldn't have taken that distraction.
You should have just worked even more in
the business. But I just I don't I don't
think that's true. And so I I say this
only to the winners. If you're somebody
who's never learned to grat delay
gratification, you've never learned to
save up for the winner, you can't you
still overspend your income, ignore this
entirely. But for those of you who are
the savers, who do always live under me
of your means, who are willing to delay
thing one year, 5 years, 10 years, you
have to then also be able to make the
decision when do I ask, when do I reap?
And I'll give you one more example and
then I'll move to the next point, which
is this is super common in content
creators, and I think this is why I
ended up writing this. I've seen a
number of creators, I remember I had a
conversation with a guy who who said,
"Hey, I have this Twitter following that
I've built over the last however many
years." And I said, "Okay." And he said,
"I would like to better monetize my
following." And I said, "All right.
Well, how many times do you like do you
do you like what CTAs do you have? Do
you you know what do you what do you
tell them to do?" And he's like, "Oh,
nothing. I never want to sacrifice the
goodwill I have with my audience." And I
was like, "Okay, why did you build this
brand to begin with?" He said, "Well, I
wanted to make money." And I said,
"Okay, how do you expect to make money
if you never ask for it?" Because he had
been taught, I have to delay. I have to
delay. And to be fair, of course you
have to delay. But at some point you
have to make the decision now is the
time. And to be clear, it doesn't mean
that like now he has to ask every single
day. It just means we have to begin the
process of reaping. And so for you
forever seers, and I put myself in that
bucket of always wanting to under under
spend and and always delay to the
future, there is a line that you need to
be able to draw for yourself for today's
the day. I will begin reaping now. And I
think that is it is a it is a entirely
personal question because it's also
fundamentally answering the question how
much do I invest versus how much do I
consume. I think the answer to that
question is entirely individual but I
think most of us can agree that invest
forever consume nothing is probably not
the way and consume everything invest
nothing is also probably not the way and
so it's somewhere in the middle where
you will have to pick what's right for
you but it is in the middle somewhere
which means you will have to consume at
some point you will have to reap and you
need to know that it is okay you might
also die and so you know there's that
too lesson 12 this is a small tactical
one just a great reminder for me from uh
from business which is the book launch.
Clear beats clever in all things, right?
You will need to repeat yourself until
you die. No one cares. No one is
listening. And so I had so many people
were like asking like what was the the
secret behind the launch. It's like I
made 5,000 ads that pretty much said the same thing. Like that was it. And still
same thing. Like that was it. And still most people didn't attend the launch,
most people didn't attend the launch, right, of the book. And we still broke
right, of the book. And we still broke the records and and and and did all the
the records and and and and did all the sales and donated all the book. We did
sales and donated all the book. We did all that stuff. And still the vast
all that stuff. And still the vast majority of the people that I have in my
majority of the people that I have in my audience, one, didn't even find out
audience, one, didn't even find out about it. and two even if they did find
about it. and two even if they did find out about it didn't come didn't even
out about it didn't come didn't even register and the few that registered
register and the few that registered still most of them didn't come so like
still most of them didn't come so like you have to think about this in terms of
you have to think about this in terms of percentages if I if I have a 100 people
percentages if I if I have a 100 people who register for something less than
who register for something less than half will show up if I have a thousand
half will show up if I have a thousand people who find out of something on an
people who find out of something on an ad less than 2% of them will even click
ad less than 2% of them will even click right so you you're you're dealing with
right so you you're you're dealing with such small percentages that the idea
such small percentages that the idea that you want to be clever in any way is
that you want to be clever in any way is ridiculous and I would say that the
ridiculous and I would say that the longer I've been in business the more I
longer I've been in business the more I I emphasize clarity over cleverness I
I emphasize clarity over cleverness I take I I emphasize simplicity over
take I I emphasize simplicity over complexity. How do I make this as simple
complexity. How do I make this as simple and as clear as humanly possible? And I
and as clear as humanly possible? And I think that is that effort of continuing
think that is that effort of continuing to learn to compress what you're saying
to learn to compress what you're saying and get it simpler and simpler. And that
and get it simpler and simpler. And that is where it becomes elegant and that is
is where it becomes elegant and that is where it becomes effective. And I would
where it becomes effective. And I would say like that that is just a great it
say like that that is just a great it was a lesson that I was reminded of. I
was a lesson that I was reminded of. I had a friend of mine we were talking we
had a friend of mine we were talking we were jamming back and forth. He had a
were jamming back and forth. He had a massive campaign for his company. He
massive campaign for his company. He spent a day out here with me and we were
spent a day out here with me and we were going through everything and his team
going through everything and his team had this had this really complex
had this had this really complex marketing structure. He's a phenomenal
marketing structure. He's a phenomenal marketer. And uh he's like, you know,
marketer. And uh he's like, you know, Alex, what do you think? And I was like,
Alex, what do you think? And I was like, I think instead of having 10 things
I think instead of having 10 things you're selling, I think you should have
you're selling, I think you should have one thing and give 10 reasons for it.
one thing and give 10 reasons for it. And he was like, yeah, I agree. And so
And he was like, yeah, I agree. And so he simplified everything down to one big
he simplified everything down to one big benefit and 10 reasons for that thing
benefit and 10 reasons for that thing and had the highest converting campaign
and had the highest converting campaign he had ever done uh in the history of
he had ever done uh in the history of his company. And he has a very
his company. And he has a very successful company and it's been very
successful company and it's been very big. He's done it for a very long time.
big. He's done it for a very long time. And after the day, he came up to me and
And after the day, he came up to me and was like, he's like, "Listen, I wanted I
was like, he's like, "Listen, I wanted I wanted to bring He's like, "My team has
wanted to bring He's like, "My team has heard me say this so many times. They
heard me say this so many times. They needed somebody from the outside to say
needed somebody from the outside to say it." He's like, "And I didn't want."
it." He's like, "And I didn't want." He's like, "You got to be the bearer of
He's like, "You got to be the bearer of bad news instead of me." And so, but
bad news instead of me." And so, but like just just as a little moniker that
like just just as a little moniker that you can remember for yourself in terms
you can remember for yourself in terms of writing copy, in terms of making
of writing copy, in terms of making sales pitches, in terms of writing
sales pitches, in terms of writing emails, making content, whatever it is,
emails, making content, whatever it is, one big idea with 10 reasons rather than
one big idea with 10 reasons rather than 10 big idea with reason, one reason
10 big idea with reason, one reason each. I'll leave it at that. Which this
each. I'll leave it at that. Which this segus naturally in to lesson 13, which
segus naturally in to lesson 13, which is this year the offer is still king,
is this year the offer is still king, just like it was last year, just like it
just like it was last year, just like it was the year before that. The offer
was the year before that. The offer still matters more than everything. And
still matters more than everything. And so we um have begun the process of
so we um have begun the process of donating um a lot of the books from the
donating um a lot of the books from the launch and we basically made the offer
launch and we basically made the offer pretty simple. One of the variations
pretty simple. One of the variations that we've test, we're testing a bunch
that we've test, we're testing a bunch of different variations, but one of the
of different variations, but one of the variations was like, hey, just pay for
variations was like, hey, just pay for the shipping of three books and you'll
the shipping of three books and you'll get all three books and uh just pay for
get all three books and uh just pay for the shipping of them. And so, right now,
the shipping of them. And so, right now, I actually lose money, like literally
I actually lose money, like literally lose money on that, even with the books
lose money on that, even with the books being prepaid. And still, and what's
being prepaid. And still, and what's what's crazy though is that the metrics
what's crazy though is that the metrics that I've seen from that offer in that
that I've seen from that offer in that funnel are better than any that I've
funnel are better than any that I've ever seen in my entire career in
ever seen in my entire career in marketing. And the reason I find that to
marketing. And the reason I find that to be so interesting is that like we we
be so interesting is that like we we whip that together so quickly and it's
whip that together so quickly and it's working because it's the offer stupid.
working because it's the offer stupid. Like how do you make an offer so good
Like how do you make an offer so good people feel stupid saying no? It's in
people feel stupid saying no? It's in the [ __ ] sub headline, right? And so
the [ __ ] sub headline, right? And so I'll give you a couple more tidbits that
I'll give you a couple more tidbits that I've I've kind of like gathered together
I've I've kind of like gathered together for myself. The reason we're able to
for myself. The reason we're able to break the record is because the bundle
break the record is because the bundle for donating 200 books were so strong
for donating 200 books were so strong and so compelling which I spent two
and so compelling which I spent two years building. The next thing is that
years building. The next thing is that whenever you have components of an offer
whenever you have components of an offer or bonuses that you're going to include
or bonuses that you're going to include in any kind of offer, any service, any
in any kind of offer, any service, any anything, right? Each bonus should be
anything, right? Each bonus should be worth more than the entire value of the
worth more than the entire value of the thing you sell. I believe that most
thing you sell. I believe that most buyers are single issue buyers, like
buyers are single issue buyers, like singleisssue voters, is that they keep
singleisssue voters, is that they keep listening until they have that one
listening until they have that one light, that one key, that one unlock,
light, that one key, that one unlock, that one reason why that say that was
that one reason why that say that was worth it. And so if you ever try and put
worth it. And so if you ever try and put an offer together where you think, oh,
an offer together where you think, oh, the aggregate of these things is worth
the aggregate of these things is worth more, you have already lost. And if the
more, you have already lost. And if the bonus itself is complex enough that you
bonus itself is complex enough that you have to explain it, delete it. Because
have to explain it, delete it. Because the most expensive part about you
the most expensive part about you explaining different components of the
explaining different components of the offer is the mental real estate it takes
offer is the mental real estate it takes up to actually explain it. And so if
up to actually explain it. And so if something is worth saying, make sure
something is worth saying, make sure that it's worth saying. And when you
that it's worth saying. And when you also build offers in this way, it forces
also build offers in this way, it forces you to think even more about how can I
you to think even more about how can I make this more compelling? How can I
make this more compelling? How can I make it simpler? How can I make it more
make it simpler? How can I make it more compelling? And each one of them has to
compelling? And each one of them has to has to carry their weight. And by doing
has to carry their weight. And by doing that, you'll create a more operationally
that, you'll create a more operationally efficient business. Number one, and your
efficient business. Number one, and your offer, I like to use this as my kind of
offer, I like to use this as my kind of um my like razor for making a good offer
um my like razor for making a good offer is that the offer should be textable.
is that the offer should be textable. Can I text to someone? And then them
Can I text to someone? And then them say, "Yeah, I'm in." And that's just a
say, "Yeah, I'm in." And that's just a great way like you you've got this much
great way like you you've got this much screen and that many words to to say the
screen and that many words to to say the essence of the entire offer and if you
essence of the entire offer and if you can't fit it there, it needs to be
can't fit it there, it needs to be better or it's too long. And so that has
better or it's too long. And so that has just been really valuable for me. And
just been really valuable for me. And I've had that I've had that reinforced
I've had that I've had that reinforced this year several times. Obviously, we
this year several times. Obviously, we had the the the offer at the launch. We
had the the the offer at the launch. We we're donating the books on the back
we're donating the books on the back end, but even within the portfolio
end, but even within the portfolio companies, I mean, the reason I think
companies, I mean, the reason I think that the offers book will always outsell
that the offers book will always outsell the other books in general. I think
the other books in general. I think money models out selling now cuz it's
money models out selling now cuz it's new, but like I think long longterm
new, but like I think long longterm offers while it sell is because like if
offers while it sell is because like if you nail the offer in a lot of ways,
you nail the offer in a lot of ways, nothing else matters. It's just getting
nothing else matters. It's just getting it right is so hard. But there's nothing
it right is so hard. But there's nothing that you can do that can make your
that you can do that can make your business have a have a bigger step
business have a have a bigger step change in your business's revenue and
change in your business's revenue and profit than really making the offer
profit than really making the offer better. And it's like again, I think on
better. And it's like again, I think on some level people have an understanding
some level people have an understanding of like what things cost. And the reason
of like what things cost. And the reason that I think that book bundle works so
that I think that book bundle works so well was because they know it cost me
well was because they know it cost me they know I'm losing money. Like people
they know I'm losing money. Like people can they know that three hardbacks cost
can they know that three hardbacks cost more than $15. They know that. And so
more than $15. They know that. And so shipped, right? Like even one $15 is a
shipped, right? Like even one $15 is a crazy deal. Three is absurd, right? And
crazy deal. Three is absurd, right? And so they know that. And so it's like
so they know that. And so it's like people assume that like I think Ogulvie
people assume that like I think Ogulvie said this. He said people think they're,
said this. He said people think they're, you know, the the prospect is an idiot,
you know, the the prospect is an idiot, but she's your wife. And it's like we we
but she's your wife. And it's like we we we talk to these amorphous masses, but
we talk to these amorphous masses, but it's like they're real people who are
it's like they're real people who are intelligent who can make decisions and
intelligent who can make decisions and they know when something smells off and
they know when something smells off and they know when something is a good deal.
they know when something is a good deal. And so like you can only do so much
And so like you can only do so much dressing up with the copy and the words
dressing up with the copy and the words and the persuasive elements because at
and the persuasive elements because at the end of the day, you should be able
the end of the day, you should be able to make the pitch by just stating the
to make the pitch by just stating the offer and shutting the [ __ ] up and
offer and shutting the [ __ ] up and pointing to how to pay and people should
pointing to how to pay and people should buy. The rest of it is just is dressing,
buy. The rest of it is just is dressing, right? It's just tweaks. It's just
right? It's just tweaks. It's just improvements. But the biggest
improvements. But the biggest improvement overall is going to be what
improvement overall is going to be what the thing you sell is. So sometimes we
the thing you sell is. So sometimes we need to be reminded more than we need to
need to be reminded more than we need to be taught. And this year was a a
be taught. And this year was a a wonderful reminder for me of like can
wonderful reminder for me of like can like it's the offer stupid like make it
like it's the offer stupid like make it better. A nice little reminder for me
better. A nice little reminder for me for how to make ads work. So this is a
for how to make ads work. So this is a little bit more tactical artifact. Right
little bit more tactical artifact. Right now it's about volume of different
now it's about volume of different creative. We did you know a,000 or 2,000
creative. We did you know a,000 or 2,000 ads I think before we even started. I
ads I think before we even started. I think it was 3,000 by the time the
think it was 3,000 by the time the launch happened. I can't remember. It
launch happened. I can't remember. It was in the thousands. and the way that
was in the thousands. and the way that advertising is moving in general, it's
advertising is moving in general, it's going to be about hyperpersonalization.
going to be about hyperpersonalization. So with AI, you can create way more
So with AI, you can create way more permutations much faster. And so I think
permutations much faster. And so I think we're going to have personalization at
we're going to have personalization at scale and that's 2026. That's I mean
scale and that's 2026. That's I mean right now it's end of 25, but like I'm
right now it's end of 25, but like I'm just calling this right now. I've
just calling this right now. I've already seen crazy returns that we're
already seen crazy returns that we're seeing in the portfolio with this across
seeing in the portfolio with this across all the companies. Like this is the
all the companies. Like this is the future. like you need you need to be
future. like you need you need to be able to create lots of creative and
able to create lots of creative and what's more important is you need to be
what's more important is you need to be able to create the machine that
able to create the machine that consistently self proliferates the
consistently self proliferates the creative. So it's like how do I get the
creative. So it's like how do I get the customers to make creative that gets us
customers to make creative that gets us more customers then make more creative.
more customers then make more creative. That's the that's the process you want
That's the that's the process you want to install in the business rather think
to install in the business rather think oh I have to just keep building the
oh I have to just keep building the team. I mean, there's elements of that
team. I mean, there's elements of that for sure, but this is like it was a
for sure, but this is like it was a great lesson for me this year and what
great lesson for me this year and what I'm taking into next year is like we
I'm taking into next year is like we have to build the self-licking ice cream
have to build the self-licking ice cream cone and hyperpersonalization is going
cone and hyperpersonalization is going to be I mean I mean I'm saying 2026 but
to be I mean I mean I'm saying 2026 but I don't think I don't think it's going
I don't think I don't think it's going to go back. So I think that's going to
to go back. So I think that's going to be the future. So less 15 side quests
be the future. So less 15 side quests can make the main quest. So what do I
can make the main quest. So what do I mean by that? So, if you were a very
mean by that? So, if you were a very like I hate even using this term, but
like I hate even using this term, but like visionary founder, if you're
like visionary founder, if you're somebody who like has lots of big ideas,
somebody who like has lots of big ideas, big dreams, you're always like thinking
big dreams, you're always like thinking shiny objects, you have a little bit of
shiny objects, you have a little bit of ADD, little touch of the of the ad,
ADD, little touch of the of the ad, right? Sometimes you have to find things
right? Sometimes you have to find things for yourself to keep distracted to not
for yourself to keep distracted to not break your main business. And because
break your main business. And because sometimes, especially the bigger your
sometimes, especially the bigger your business gets, when you're smaller,
business gets, when you're smaller, literally ignore this advice. But if
literally ignore this advice. But if you're bigger, it just takes like it
you're bigger, it just takes like it might take a year for a big initiative
might take a year for a big initiative to happen because it's it's turning the
to happen because it's it's turning the Titanic versus turning a rowboat, right?
Titanic versus turning a rowboat, right? And so I have found it useful for me
And so I have found it useful for me like the books for me are obviously
like the books for me are obviously they're I find a way to make them
they're I find a way to make them additive to my overall, you know,
additive to my overall, you know, business acquisition.com, but they take
business acquisition.com, but they take time from me, but that time I think
time from me, but that time I think gives me thinking space and also allows
gives me thinking space and also allows my team to just continue to get better
my team to just continue to get better without me like blowing things up. And
without me like blowing things up. And so I tend to prefer large change from a
so I tend to prefer large change from a emotional level, from a logical level, I
emotional level, from a logical level, I prefer, you know, incremental, etc. But
prefer, you know, incremental, etc. But it's like how can I how can I have these
it's like how can I how can I have these how can I scratch my new itch? Well, I
how can I scratch my new itch? Well, I have to do things that don't drain, this
have to do things that don't drain, this is the key, that cannot drain resources
is the key, that cannot drain resources from the main thing. The side quest only
from the main thing. The side quest only helps if it allows the main quest to
helps if it allows the main quest to succeed even more, not if it distracts
succeed even more, not if it distracts from the main quest or pulls any
from the main quest or pulls any resources from it. And so for me,
resources from it. And so for me, writing books is that thing. For you, it
writing books is that thing. For you, it might be something else. But I think
might be something else. But I think I've I've grown more and more okay with
I've I've grown more and more okay with the idea that like some things will take
the idea that like some things will take time within the business and me having
time within the business and me having something to do in the meantime can
something to do in the meantime can actually increase the likelihood that
actually increase the likelihood that those things succeed and in some ways
those things succeed and in some ways it's a way of passing the time while
it's a way of passing the time while things are painful and uncomfortable. So
things are painful and uncomfortable. So the next one which was a great lesson
the next one which was a great lesson for me this year was um delegation is
for me this year was um delegation is the price of scaling loss of control
the price of scaling loss of control right and so I believe that the the the
right and so I believe that the the the spiritual path of entrepreneurship is a
spiritual path of entrepreneurship is a consistent relinquishing of control and
consistent relinquishing of control and so we were employees at some time likely
so we were employees at some time likely for many people and then you stop doing
for many people and then you stop doing that and then you decide to start a
that and then you decide to start a business and you typically do that
business and you typically do that because you want to quote have freedom
because you want to quote have freedom and so then you say I will have complete
and so then you say I will have complete control but in order to have true
control but in order to have true freedom you actually can have no control
freedom you actually can have no control you have to accept that's true freedom
you have to accept that's true freedom Right? And so at every level, in the
Right? And so at every level, in the very beginning, you do everything and
very beginning, you do everything and then you say, "I'm going to have
then you say, "I'm going to have somebody who helps you with this." So
somebody who helps you with this." So you give a little control and then the
you give a little control and then the next level it's like, "Okay, well the
next level it's like, "Okay, well the doing I've I've delegated, but the
doing I've I've delegated, but the management, no one can manage like I can
management, no one can manage like I can manage." And then you give the
manage." And then you give the management away. And you're like, "Okay,
management away. And you're like, "Okay, well no one can direct or lead like I
well no one can direct or lead like I can lead." Then eventually you give the
can lead." Then eventually you give the leadership away. And then it's like,
leadership away. And then it's like, "Well, no one can think of the vision of
"Well, no one can think of the vision of the future like I can." And then
the future like I can." And then eventually maybe there is somebody Steve
eventually maybe there is somebody Steve Jobs wasn't able to be replaced, but
Jobs wasn't able to be replaced, but many of us aren't Steve Jobs and are
many of us aren't Steve Jobs and are replaceable. And so delegation is the
replaceable. And so delegation is the price of scaling, losing that control.
price of scaling, losing that control. And so hardworking people, and this is
And so hardworking people, and this is what's really interesting about this,
what's really interesting about this, hardworking people have a hard time
hardworking people have a hard time coming up with non-h hardworking
coming up with non-h hardworking solutions. And so this has been
solutions. And so this has been particularly difficult for me because
particularly difficult for me because like I I will look at problems and say,
like I I will look at problems and say, "Oh, I wonder if I can outwork this
"Oh, I wonder if I can outwork this problem." When Bill Gates talked about
problem." When Bill Gates talked about this saying, "It's really good to have
this saying, "It's really good to have lazy executives because they will try
lazy executives because they will try and think of non high energy ways to
and think of non high energy ways to solve problems." And so the hard worker
solve problems." And so the hard worker won't feel like delegating because they
won't feel like delegating because they want to feel useful. And it's incredibly
want to feel useful. And it's incredibly difficult. But if you draw the line, you
difficult. But if you draw the line, you have to say that you will not do
have to say that you will not do anything in order for it to scale
anything in order for it to scale because otherwise you will absolutely be
because otherwise you will absolutely be the limiter of your own growth. And I
the limiter of your own growth. And I don't think we are as special as we
don't think we are as special as we think we are. And so you might kind of
think we are. And so you might kind of just have to give up some profit in the
just have to give up some profit in the short term, but you'll make more in the
short term, but you'll make more in the long term. And so this has been kind of
long term. And so this has been kind of like a thingy process for me, which is
like a thingy process for me, which is at this point the razor I have is if it
at this point the razor I have is if it requires me, it doesn't work. That's how
requires me, it doesn't work. That's how I think about it now. And so I use the
I think about it now. And so I use the term internally from my head and Leila
term internally from my head and Leila and I talked about this scale zero. Like
and I talked about this scale zero. Like we have to scale me down to zero so we
we have to scale me down to zero so we can scale it up to infinity. Otherwise I
can scale it up to infinity. Otherwise I will always be the limiter. And so this
will always be the limiter. And so this is kind of just like a a a great
is kind of just like a a a great reminder or artifact that I've gotten
reminder or artifact that I've gotten from the year is scale zero. And I've
from the year is scale zero. And I've been reminded this at at at this level
been reminded this at at at this level now is that nothing can rely on me
now is that nothing can rely on me because the business is just too big.
because the business is just too big. The other little little tidbit I'll I'll
The other little little tidbit I'll I'll add in there as well is if you're at
add in there as well is if you're at equilibrium within your business, that
equilibrium within your business, that means that like your supply and your
means that like your supply and your demand are fixed. Like I can't I can't
demand are fixed. Like I can't I can't take in more customers because my
take in more customers because my supplies like I my team can't handle it,
supplies like I my team can't handle it, but I also don't have more demand,
but I also don't have more demand, right? So it's like what do you do when
right? So it's like what do you do when you're at equilibrium? When I was in my
you're at equilibrium? When I was in my earlier part of my career, I would have
earlier part of my career, I would have said increase demand and then force the
said increase demand and then force the team to, you know, pull from the cracks
team to, you know, pull from the cracks and then with the ex extra cash flow,
and then with the ex extra cash flow, you'll be able to afford, you know, the
you'll be able to afford, you know, the the next person you need to hire. That
the next person you need to hire. That was what I would have said probably the
was what I would have said probably the first 10 years of my career, 12 years of
first 10 years of my career, 12 years of my career. And I would say that I have
my career. And I would say that I have flipped that thinking probably this
flipped that thinking probably this year, which is that I would say increase
year, which is that I would say increase supply. And I'll explain why. When
supply. And I'll explain why. When you're at equilibrium, whatever your
you're at equilibrium, whatever your next step is, you're going to have to
next step is, you're going to have to bear a cost. And the cost will either be
bear a cost. And the cost will either be your reputation or your profit. And so
your reputation or your profit. And so if I increase demand, the cost of that
if I increase demand, the cost of that increase will be my reputation because
increase will be my reputation because my team will probably not be able to
my team will probably not be able to deliver at the same quality they
deliver at the same quality they otherwise would have because they are
otherwise would have because they are overextended. If I increase supply
overextended. If I increase supply first, then the bandwidth of my team
first, then the bandwidth of my team will improve and in the short term they
will improve and in the short term they will have to train this new person up
will have to train this new person up which will be a cost in the business. So
which will be a cost in the business. So I'm going to almost have a double cost.
I'm going to almost have a double cost. They have to train this person up and I
They have to train this person up and I have to bear the cost of the person to
have to bear the cost of the person to begin as well. But once that's done, I
begin as well. But once that's done, I will have dramatically increased the
will have dramatically increased the capacity of the business which will then
capacity of the business which will then give bandwidth back which will then
give bandwidth back which will then allow us to push to fill up the demand
allow us to push to fill up the demand side. And so the reason that we were
side. And so the reason that we were even able to do the book launch this
even able to do the book launch this year, we actually originally were going
year, we actually originally were going to do it in February, couldn't do it
to do it in February, couldn't do it because we didn't have the bandwidth and
because we didn't have the bandwidth and then were able to do it in August
then were able to do it in August because 90 days prior we hired four
because 90 days prior we hired four directors and leaders in the business
directors and leaders in the business which expanded the capacity of the
which expanded the capacity of the business so that we could do the launch.
business so that we could do the launch. So that was the that was just some of
So that was the that was just some of the lessons of this year from that. So
the lessons of this year from that. So next one was just real estate in
next one was just real estate in general. So I you know Sean and I have
general. So I you know Sean and I have done a lot of real estate deals together
done a lot of real estate deals together for the last 5 years. I would say we
for the last 5 years. I would say we will buy a few hundred million in real
will buy a few hundred million in real estate this year. I'll get the exact
estate this year. I'll get the exact number probably in a future video
number probably in a future video because we have a couple deals pending
because we have a couple deals pending as the as the year ends. But what was
as the as the year ends. But what was very interesting is that I have a much
very interesting is that I have a much better understanding of the tax uh laws
better understanding of the tax uh laws around it. So this was a big W for us. I
around it. So this was a big W for us. I haven't talked about real estate in
haven't talked about real estate in general despite having done a lot of
general despite having done a lot of deals over the last 5 years with Chiron
deals over the last 5 years with Chiron because I didn't feel like I had the
because I didn't feel like I had the credibility. And so I will probably and
credibility. And so I will probably and Shiron will probably as well next year
Shiron will probably as well next year will probably talk more about ACQRE. So,
will probably talk more about ACQRE. So, ACQ Real Estate because we have now
ACQ Real Estate because we have now gathered a significant amount of
gathered a significant amount of resources there that I think you guys
resources there that I think you guys would probably like that and I certainly
would probably like that and I certainly have enjoyed it because it was something
have enjoyed it because it was something that I felt like was a deficiency in my
that I felt like was a deficiency in my skill set in terms of investing that I
skill set in terms of investing that I wanted to rectify. And so, I've talked
wanted to rectify. And so, I've talked about it in many, you know, many years
about it in many, you know, many years ago. I've talked about in some videos of
ago. I've talked about in some videos of like very tiny deals that I did, $50,000
like very tiny deals that I did, $50,000 deals that, you know, didn't work out as
deals that, you know, didn't work out as well. And I was like, I don't know what
well. And I was like, I don't know what I'm doing. And so, that is when I
I'm doing. And so, that is when I basically enlisted help and I got people
basically enlisted help and I got people who were more experienced and I did what
who were more experienced and I did what I always do and just try to learn from
I always do and just try to learn from them. And it has been incredibly
them. And it has been incredibly enlightening and I very much understand
enlightening and I very much understand the appeal of it now. And so it was a it
the appeal of it now. And so it was a it was a huge deal, huge W for us this year
was a huge deal, huge W for us this year and look and I think will be a
and look and I think will be a compounding vehicle for us in the
compounding vehicle for us in the future. I mean this is a a lessons video
future. I mean this is a a lessons video for the year for me and so I'm grateful
for the year for me and so I'm grateful that we we took all the steps that we
that we we took all the steps that we did this year in order to do it. Next
did this year in order to do it. Next one. Best ROI in business. All right,
one. Best ROI in business. All right, pay attention to this one. Best ROI is
pay attention to this one. Best ROI is still talent. So the cost and return on
still talent. So the cost and return on talent. So let me get deep on this. you
talent. So let me get deep on this. you have how much does it cost you to get
have how much does it cost you to get the talent and then how much will that
the talent and then how much will that talent make you and so I had a dentist
talent make you and so I had a dentist who came and was like hey I have the
who came and was like hey I have the specialy dentist they're really hard to
specialy dentist they're really hard to find blah blah blah and I say okay well
find blah blah blah and I say okay well how much does a dentist make you in
how much does a dentist make you in gross profit per year and at his
gross profit per year and at his facility he made $700,000 in gross
facility he made $700,000 in gross profit per year per special dentist I
profit per year per special dentist I was like okay that's gross profit I said
was like okay that's gross profit I said okay fine and I said so if you just had
okay fine and I said so if you just had and I think he was doing $4 or $5
and I think he was doing $4 or $5 million a year in profit something like
million a year in profit something like that and I said okay so what's the
that and I said okay so what's the problem he said well I can't find any of
problem he said well I can't find any of these dentists? And I said, okay, well,
these dentists? And I said, okay, well, how much money are you spending, you
how much money are you spending, you know, with on recruiting or marketing?
know, with on recruiting or marketing? And he was like, I don't know, like 2500
And he was like, I don't know, like 2500 bucks. And I was like, okay, so let's
bucks. And I was like, okay, so let's hear me out. I said, if I had an
hear me out. I said, if I had an investment that that I said would cash
investment that that I said would cash flow $700,000 a year, what would you be
flow $700,000 a year, what would you be willing to to pay one time to buy into
willing to to pay one time to buy into that investment? He was like, I mean, if
that investment? He was like, I mean, if I knew it was going to be 700 grand a
I knew it was going to be 700 grand a year, I mean, 700. And I was like,
year, I mean, 700. And I was like, "Right, so you should be more than happy
"Right, so you should be more than happy to spend 50, right, on a head hunter or
to spend 50, right, on a head hunter or 150 on a head hunter to go this get this
150 on a head hunter to go this get this level of talent." And if you and he
level of talent." And if you and he needed four to hit his next goal, which
needed four to hit his next goal, which he had, which is like to double the
he had, which is like to double the business or something. And so I said,
business or something. And so I said, "All right, let me ask you this." I
"All right, let me ask you this." I think he had 4.6 million I think was his
think he had 4.6 million I think was his profit. I said, "This year, if instead
profit. I said, "This year, if instead of making 4.6 6 million in profit. You
of making 4.6 6 million in profit. You made 4 million and then you got you
made 4 million and then you got you spent the 600 to get four guys at 150
spent the 600 to get four guys at 150 each for head hunter to go get that
each for head hunter to go get that talent and maybe have relocation
talent and maybe have relocation bonuses, whatever. Would that be worth
bonuses, whatever. Would that be worth it? And he was like, "Well, when you say
it? And he was like, "Well, when you say it like that," I'm like, "Right." And so
it like that," I'm like, "Right." And so I still to this day believe that
I still to this day believe that especially in the age of AI where every
especially in the age of AI where every star employee who can use technology
star employee who can use technology gets even more leverage, the return on
gets even more leverage, the return on talent is is even better than it's ever
talent is is even better than it's ever been. And so when you see Meta paying
been. And so when you see Meta paying these hundred million dollar bonuses and
these hundred million dollar bonuses and stuff for these single individuals,
stuff for these single individuals, you're like, they're crazy. Or they know
you're like, they're crazy. Or they know something we don't know, which is that
something we don't know, which is that they might still get a billion or two
they might still get a billion or two billion or five billion in value from
billion or five billion in value from this one person if they can unlock it.
this one person if they can unlock it. And so I think about this from two
And so I think about this from two angles, like a micro and a macro
angles, like a micro and a macro perspective. So on a micro level, when
perspective. So on a micro level, when you bring someone in, you get time back.
you bring someone in, you get time back. It's work that you don't have to do that
It's work that you don't have to do that you now get back. Phenomenal. On the
you now get back. Phenomenal. On the macro level, the higher the level of
macro level, the higher the level of talent, the more it's impossible for you
talent, the more it's impossible for you to have their lifetime of experience. I
to have their lifetime of experience. I can't live an AI coder's last 20 years,
can't live an AI coder's last 20 years, right? Or last 10 years. I can't go do
right? Or last 10 years. I can't go do that. So, all I can do is spend money to
that. So, all I can do is spend money to go buy that lifetime of experience and
go buy that lifetime of experience and then apply it into my business. And so,
then apply it into my business. And so, fundamentally, the the bigger the
fundamentally, the the bigger the business gets, the more it's about
business gets, the more it's about assembling the talent that then builds
assembling the talent that then builds the business than it is about building
the business than it is about building the business. And your rate of business
the business. And your rate of business growth will be limited by your ability
growth will be limited by your ability to learn because no one will come work
to learn because no one will come work for you who is better than you. And let
for you who is better than you. And let me put my caveat on this. No one will
me put my caveat on this. No one will work for you who is better than you at
work for you who is better than you at everything. For sure, many people work
everything. For sure, many people work for me who are better than me at their
for me who are better than me at their specific functions. But they know that I
specific functions. But they know that I have depth in some things that my depth
have depth in some things that my depth is as good or better than their depth in
is as good or better than their depth in their specific thing. And so excellence
their specific thing. And so excellence attracts excellence. And so if you want
attracts excellence. And so if you want more A players, you need to become an
more A players, you need to become an even deeper A player. Because at the at
even deeper A player. Because at the at at the most simple level, if you had the
at the most simple level, if you had the five best teammates in the entire world,
five best teammates in the entire world, you would have one of the most valuable
you would have one of the most valuable businesses in the entire world. That
businesses in the entire world. That would be that would be reality. Elon's
would be that would be reality. Elon's superstar skill is that he's so good at
superstar skill is that he's so good at engineering that he can attract the best
engineering that he can attract the best engineers and as a result, he can build
engineers and as a result, he can build the best engineering based companies.
the best engineering based companies. That's his secret. And so he's not
That's his secret. And so he's not actually running six different
actually running six different companies. I mean, he obviously makes
companies. I mean, he obviously makes his key decisions in those areas, but a
his key decisions in those areas, but a huge amount of decisions, I would argue
huge amount of decisions, I would argue the vast majority of the decisions
the vast majority of the decisions physically couldn't be made by one man
physically couldn't be made by one man because of the size of all six of the
because of the size of all six of the companies. And so, the only way that's
companies. And so, the only way that's accomplished is by having such a strong
accomplished is by having such a strong brand by being so good at what you do
brand by being so good at what you do that the best in the world want to work
that the best in the world want to work for you. The problem is that you're not
for you. The problem is that you're not the best in the world. And so, they
the best in the world. And so, they don't want to work for you, which means,
don't want to work for you, which means, as always, we are the problem. We are
as always, we are the problem. We are the limiter of the business. next set of
the limiter of the business. next set of lessons for me from this year. So, A
lessons for me from this year. So, A players will make you rich, but here's
players will make you rich, but here's the downside or the hard part about A
the downside or the hard part about A player culture. A players cost more per
player culture. A players cost more per headcount, but not not in actuality. So,
headcount, but not not in actuality. So, let me give you an example. If you had
let me give you an example. If you had five eights and five sixes on a team,
five eights and five sixes on a team, what really happens is that the sixes
what really happens is that the sixes pull down the eights, and now you just
pull down the eights, and now you just have a bunch of six sevens. Anyways, the
have a bunch of six sevens. Anyways, the smart move is to fire all five sixes,
smart move is to fire all five sixes, and what happens is your eights become
and what happens is your eights become nines, and you never needed the sixes to
nines, and you never needed the sixes to begin with. And that is something that
begin with. And that is something that I've seen over and over and over again.
I've seen over and over and over again. I had a team of 14 sales guys at one
I had a team of 14 sales guys at one point and we had a cancerous there was a
point and we had a cancerous there was a one guy was stealing some other guys
one guy was stealing some other guys knew about it. It was bad. And so we
knew about it. It was bad. And so we ended up cutting I think from 14 to six.
ended up cutting I think from 14 to six. And those six guys closed more deals
And those six guys closed more deals than the 14 real. I've also had to do
than the 14 real. I've also had to do this on the on the media. I mean I've
this on the on the media. I mean I've had to do this in a lot of different
had to do this in a lot of different teams over the years where I have to
teams over the years where I have to just massively take an axe because
just massively take an axe because culture runs a muck. There's a bad
culture runs a muck. There's a bad leader. they lower those standards and
leader. they lower those standards and then you got eights with sixes and then
then you got eights with sixes and then the eights start acting like sixes too.
the eights start acting like sixes too. But then when you get all the bad ones
But then when you get all the bad ones out then all of a sudden these eights
out then all of a sudden these eights rise to the occasion and they're like we
rise to the occasion and they're like we just only want to play with A players
just only want to play with A players because A players will self-manage but
because A players will self-manage but everyone has to be an A player otherwise
everyone has to be an A player otherwise they'll say oh that's accepted and
they'll say oh that's accepted and either they'll lower the bar or they'll
either they'll lower the bar or they'll leave. And one of the difficulties of
leave. And one of the difficulties of this is that your definition of an A
this is that your definition of an A player will change as you get better.
player will change as you get better. what I thought was an A player when I
what I thought was an A player when I was in, you know, when I owned a gym was
was in, you know, when I owned a gym was somebody who was making $50,000 a year.
somebody who was making $50,000 a year. And I was like, "This is the [ __ ] This
And I was like, "This is the [ __ ] This guy is the man. This is a player." And
guy is the man. This is a player." And then I had my first $75,000 year play,
then I had my first $75,000 year play, then my first $100,000 year, and then
then my first $100,000 year, and then first 200, and my first 400, then my
first 200, and my first 400, then my first million, then first multi-million.
first million, then first multi-million. And at each level, I'm like, I didn't
And at each level, I'm like, I didn't even know they made people like this.
even know they made people like this. Right? And so, your definition of what
Right? And so, your definition of what good looks like will always be better.
good looks like will always be better. And this is a quote from Shiron. He
And this is a quote from Shiron. He said, "The best talent is always in the
said, "The best talent is always in the future." And so, we always want to make
future." And so, we always want to make room. We want to build a business that
room. We want to build a business that has a vision that's big enough that
has a vision that's big enough that their big dreams can also fit inside of
their big dreams can also fit inside of it. And I'll just say on a tactical
it. And I'll just say on a tactical level, I I this has just almost become
level, I I this has just almost become my razor. I have yet to find an A player
my razor. I have yet to find an A player that I don't immediately know as an A
that I don't immediately know as an A player within the first 14 days. It just
player within the first 14 days. It just hasn't happened. And so I I think what's
hasn't happened. And so I I think what's really happening for me now is that like
really happening for me now is that like my tolerance for not A players has just
my tolerance for not A players has just gone down. I just I can just say like
gone down. I just I can just say like I'm sure they're okay and I'm sure we
I'm sure they're okay and I'm sure we could give them time and I'm sure they
could give them time and I'm sure they could become a seven and so what? it's
could become a seven and so what? it's they're not going to be an A. Why
they're not going to be an A. Why bother? And that that is a hard culture
bother? And that that is a hard culture to enforce because people don't want to
to enforce because people don't want to let other people go. Hey, this person
let other people go. Hey, this person just changed their jobs, etc. And some
just changed their jobs, etc. And some people might say, "Oh, you're not giving
people might say, "Oh, you're not giving them a chance." I want to be clear here.
them a chance." I want to be clear here. It depends on the level of who you're
It depends on the level of who you're hiring. If you're hiring very low low
hiring. If you're hiring very low low wage employees, um, and the training is
wage employees, um, and the training is really fast, that can be different than
really fast, that can be different than maybe somebody who has to ramp up. There
maybe somebody who has to ramp up. There are elements of this, but you can still
are elements of this, but you can still see leading indicators in terms of
see leading indicators in terms of character and work ethic almost
character and work ethic almost immediately. And those are the reasons
immediately. And those are the reasons that most people get fired, not because
that most people get fired, not because of kind of the day-to-day skill stuff,
of kind of the day-to-day skill stuff, which leads us to the next one, which is
which leads us to the next one, which is money attracts talent. Culture keeps
money attracts talent. Culture keeps talent. And so, hear me out. You need to
talent. And so, hear me out. You need to be able to pay enough that a players
be able to pay enough that a players will will ride the ride, right? You must
will will ride the ride, right? You must be this tall to ride this ride. But
be this tall to ride this ride. But whether they'll want to keep riding the
whether they'll want to keep riding the ride will depend on how good the ride
ride will depend on how good the ride is, right? And so financial incentives
is, right? And so financial incentives are absolutely important for attracting
are absolutely important for attracting them, but in my opinion, not very
them, but in my opinion, not very important at all for getting the most
important at all for getting the most out of them. The non-financial
out of them. The non-financial incentives will become significantly
incentives will become significantly stronger than the financial ones because
stronger than the financial ones because the financial ones are too infrequent.
the financial ones are too infrequent. So if we think about how behavior works,
So if we think about how behavior works, behavior is reinforced in the moment.
behavior is reinforced in the moment. Latency beats intensity every day and
Latency beats intensity every day and twice on Sunday. The reason that that
twice on Sunday. The reason that that one drug is more addictive than another
one drug is more addictive than another is purely based on how quickly you feel
is purely based on how quickly you feel good after you take it. That is how
good after you take it. That is how addiction works. Why are inhalants so
addiction works. Why are inhalants so addictive? Because you it's immediately
addictive? Because you it's immediately in your bloodstream. Why is Facebook or
in your bloodstream. Why is Facebook or these social media things so addictive?
these social media things so addictive? Because the red light happens
Because the red light happens immediately. It's not because a red
immediately. It's not because a red light is inherently this crazy thing.
light is inherently this crazy thing. And to the same degree, nicotine is not
And to the same degree, nicotine is not a super strong drug, but it's immediate.
a super strong drug, but it's immediate. That's why it's so addictive. And so if
That's why it's so addictive. And so if we think about addiction as a way of
we think about addiction as a way of changing behavior, then we think, how
changing behavior, then we think, how can I get someone addicted to the right
can I get someone addicted to the right behaviors in my business? And the way
behaviors in my business? And the way that that addiction would happen is you
that that addiction would happen is you have to have reinforcers within the way
have to have reinforcers within the way the business works that happen in real
the business works that happen in real time. And are any of those financial?
time. And are any of those financial? No. And so we have to be this high to
No. And so we have to be this high to ride this ride. You have to have you
ride this ride. You have to have you have to pay well enough that A-level
have to pay well enough that A-level people are there, but you still might
people are there, but you still might not get true A-level performance unless
not get true A-level performance unless you have an A culture. And so when you
you have an A culture. And so when you have a team of A's, they will
have a team of A's, they will self-manage and they will continue to
self-manage and they will continue to reinforce each other for being A's. And
reinforce each other for being A's. And if you've ever been on a winning team,
if you've ever been on a winning team, it's more fun than being paid well. And
it's more fun than being paid well. And on a losing team, if you have to ask
on a losing team, if you have to ask somebody when they're in the Super Bowl,
somebody when they're in the Super Bowl, how much do you have to pay to try hard
how much do you have to pay to try hard to win this game? No one. They would do
to win this game? No one. They would do it for free because winners want to win
it for free because winners want to win more than they want to make money. And
more than they want to make money. And that's what makes them winners. Money is
that's what makes them winners. Money is what will get them in the door, but
what will get them in the door, but winning is what keeps them there. So
winning is what keeps them there. So next little tactical lesson,
next little tactical lesson, decentralization wins. So we are we are
decentralization wins. So we are we are big advocates of decentralization. I
big advocates of decentralization. I would say that we've taken this as a as
would say that we've taken this as a as a Warren Buffett, you know, a feather
a Warren Buffett, you know, a feather out of his his hat. I believe that
out of his his hat. I believe that people need to stay focused shared
people need to stay focused shared resources, split resources. And so our
resources, split resources. And so our goal, especially in terms of how we're
goal, especially in terms of how we're running the company, is that as fast as
running the company, is that as fast as possible, we want to allow functions to
possible, we want to allow functions to be self-sustaining and ideally from day
be self-sustaining and ideally from day one, right? And if not, we need to look
one, right? And if not, we need to look at that investment from holdco.
at that investment from holdco. Something that has to get paid back as
Something that has to get paid back as fast as possible so they can become
fast as possible so they can become independent. And so this is a little bit
independent. And so this is a little bit more of an operational thing. But the
more of an operational thing. But the way that I think about this is like kind
way that I think about this is like kind of like revenue lines. So I do not like
of like revenue lines. So I do not like centralization. I want I want
centralization. I want I want independent leaders who own their own
independent leaders who own their own P&Ls so that they can stay completely
P&Ls so that they can stay completely focused on making that thing win. And
focused on making that thing win. And the times in my career where I have
the times in my career where I have quote gotten distracted has actually
quote gotten distracted has actually been I distracted my own team from
been I distracted my own team from winning because I told I took resources
winning because I told I took resources from here and said oh we're going to
from here and said oh we're going to also pursue this opportunity but I
also pursue this opportunity but I didn't increase infrastructure. And so I
didn't increase infrastructure. And so I think this is honestly like this will
think this is honestly like this will this is one of the big reasons why I
this is one of the big reasons why I finally feel like I figured out how do
finally feel like I figured out how do we go from a few hundred million to a
we go from a few hundred million to a billion a year in sales. Like this is
billion a year in sales. Like this is like this is for the more advanced
like this is for the more advanced business owners. This is the big unlock
business owners. This is the big unlock is that you have to think of business of
is that you have to think of business of businesses. You have to think a team of
businesses. You have to think a team of teams, right? And so it's not like, oh,
teams, right? And so it's not like, oh, Amazon is this one business. Amazon has
Amazon is this one business. Amazon has many revenue lines and they function as
many revenue lines and they function as basically just many businesses under the
basically just many businesses under the brand of Amazon. They have the same
brand of Amazon. They have the same culture. They have the same ideals. They
culture. They have the same ideals. They strive for the same ultimate outcome and
strive for the same ultimate outcome and they're aligned in that way, but the
they're aligned in that way, but the actual doingness of AWS versus the
actual doingness of AWS versus the logistics business versus the private
logistics business versus the private label business of Amazon, all of those
label business of Amazon, all of those are very different. And so each of them
are very different. And so each of them has CEOs in their own right. And so
has CEOs in their own right. And so Acquisition.com now we have two two
Acquisition.com now we have two two revenue lines outside or three revenue
revenue lines outside or three revenue lines outside of outside of the
lines outside of outside of the portfolio. And I guess that's not even
portfolio. And I guess that's not even true. There's more than that. Well, each
true. There's more than that. Well, each of them to that point each of them has
of them to that point each of them has their own presidents and leadership
their own presidents and leadership team. And so that is the big mistake
team. And so that is the big mistake that I kept trying to make is I kept
that I kept trying to make is I kept thinking I had to make this business
thinking I had to make this business bigger when in reality like humans can
bigger when in reality like humans can only manage so many humans, right? And
only manage so many humans, right? And so things eventually split off and
so things eventually split off and become their own units of business. And
become their own units of business. And it's very difficult for a CFO of a
it's very difficult for a CFO of a holding company to know how much
holding company to know how much frontline customer service person needs
frontline customer service person needs to spend at this particular company.
to spend at this particular company. They're too far away. And so that's why
They're too far away. And so that's why I don't like centralization if you're
I don't like centralization if you're building a very large business. And I
building a very large business. And I would say that with with with the this
would say that with with with the this the exception of software from a shared
the exception of software from a shared services perspective because basically
services perspective because basically the operations of that scale, you know,
the operations of that scale, you know, better than just about any other kind of
better than just about any other kind of business. But the way that revenue lines
business. But the way that revenue lines are are imagined within the software
are are imagined within the software world is basically feature sets. And so
world is basically feature sets. And so you have a team that's in charge of
you have a team that's in charge of these features and it's kind of like a
these features and it's kind of like a director, a CEO of this feature, a CEO
director, a CEO of this feature, a CEO of this feature. So it still more or
of this feature. So it still more or less works the same way even if the
less works the same way even if the revenue is consolidated with one
revenue is consolidated with one membership or something like that. But
membership or something like that. But if you have a service business,
if you have a service business, typically the revenue will not be
typically the revenue will not be consolidating that way. You'll have
consolidating that way. You'll have different lines of of services and
different lines of of services and different pricing associated with that,
different pricing associated with that, different sales teams, different
different sales teams, different marketing, but it's still brand will
marketing, but it's still brand will still be the same, but the leaders and
still be the same, but the leaders and what they're selling and how they
what they're selling and how they deliver will be different. And so that
deliver will be different. And so that is a huge unlock for me. And it is like
is a huge unlock for me. And it is like I feel like we're finally I mean we've
I feel like we're finally I mean we've been doing this now, but this is me kind
been doing this now, but this is me kind distilling down that crystal so that
distilling down that crystal so that future me can be like what was I
future me can be like what was I thinking right then? That's what I was
thinking right then? That's what I was thinking. And that I think was the the
thinking. And that I think was the the big um the big W. I'll give you a couple
big um the big W. I'll give you a couple tidbits on the leaders to do that. You
tidbits on the leaders to do that. You need leaders who can who can drive the
need leaders who can who can drive the revenue lines and are incentivized on
revenue lines and are incentivized on bottom line. And if they need you, they
bottom line. And if they need you, they don't deserve the incentive. If they
don't deserve the incentive. If they need you to drive the revenue, then they
need you to drive the revenue, then they are not the driver. You are still the
are not the driver. You are still the driver. If you really want to build
driver. If you really want to build something big, you have to be able to
something big, you have to be able to find people who are exceptional,
find people who are exceptional, compensate them well, and get out of
compensate them well, and get out of their way. Now, you've heard people say
their way. Now, you've heard people say that. I've heard people say that, and I
that. I've heard people say that, and I I I want to say this in a way that
I I want to say this in a way that somehow I can like make it real because
somehow I can like make it real because it's real for me now. It's the the thing
it's real for me now. It's the the thing that I was missing was the was a pattern
that I was missing was the was a pattern recognition on what high quality talent
recognition on what high quality talent looks like. That was what I was missing.
looks like. That was what I was missing. If that person actually here's a
If that person actually here's a different way to think about it. Here's
different way to think about it. Here's a good one. If you have a $100 million
a good one. If you have a $100 million business, you might have one or two
business, you might have one or two founders or three founders who have nine
founders or three founders who have nine figure founder, you know, skill sets.
figure founder, you know, skill sets. But the people who are going to run
But the people who are going to run within that is the next tier of people
within that is the next tier of people are all call it eight figure or
are all call it eight figure or multi-figure entrepreneurs. And so in
multi-figure entrepreneurs. And so in order to create the $und00 million
order to create the $und00 million business, you might have two $25 million
business, you might have two $25 million entrepreneurs and then and then five $10
entrepreneurs and then and then five $10 million entrepreneurs who run the next
million entrepreneurs who run the next tier. And then underneath of them,
tier. And then underneath of them, you've got many sevenfigure
you've got many sevenfigure entrepreneurs, right? And so it's almost
entrepreneurs, right? And so it's almost like the aggregate of the the aggregate
like the aggregate of the the aggregate revenue in the business is the added up
revenue in the business is the added up potential of all the skill of all the
potential of all the skill of all the players within it. And that was just a
players within it. And that was just a bit like if if you don't think that your
bit like if if you don't think that your head of sales could go do sales and like
head of sales could go do sales and like if your if your person in marketing
if your if your person in marketing couldn't start a marketing agency, then
couldn't start a marketing agency, then they're probably not that good at
they're probably not that good at marketing, right? And so that's that's
marketing, right? And so that's that's kind of the thinking process is like if
kind of the thinking process is like if none of the people that you have could
none of the people that you have could go do it on their own, then you probably
go do it on their own, then you probably don't have good enough people. And
don't have good enough people. And that's the thing because you have this
that's the thing because you have this fear of like, oh, what if I if I bring
fear of like, oh, what if I if I bring somebody in who can do it on their own,
somebody in who can do it on their own, they'll just steal my stuff. It's like
they'll just steal my stuff. It's like or if you don't bring them in, you will
or if you don't bring them in, you will literally do it for the rest of your
literally do it for the rest of your life. We have to create the vision and
life. We have to create the vision and the opportunities that are big enough
the opportunities that are big enough and this is where the design this is
and this is where the design this is your job. How to create the
your job. How to create the opportunities are such that it still
opportunities are such that it still makes more sense for the person to work
makes more sense for the person to work here because they can have uncapped
here because they can have uncapped earnings. So there's a difference
earnings. So there's a difference between like somebody needs to own the
between like somebody needs to own the whole business, which the biggest
whole business, which the biggest business in the world, no one owns the
business in the world, no one owns the whole business. Well, I mean to my
whole business. Well, I mean to my knowledge, right? The biggest I'm
knowledge, right? The biggest I'm thinking like okay, publicly traded,
thinking like okay, publicly traded, whatever. I'm sure there's some secret
whatever. I'm sure there's some secret Arabian oil factory that I don't know
Arabian oil factory that I don't know about, right, that one guy owns. But
about, right, that one guy owns. But like for the vast majority of
like for the vast majority of businesses, many people own them, right?
businesses, many people own them, right? But what's more key is that someone has
But what's more key is that someone has unlimited earning capacity. And I think
unlimited earning capacity. And I think that's the key. That's how you can get
that's the key. That's how you can get the A players. And if they are true A's,
the A players. And if they are true A's, they'll [ __ ] light up because the
they'll [ __ ] light up because the thing is is it makes sense because the
thing is is it makes sense because the return on effort is higher because of
return on effort is higher because of the aggregate infrastructure that has
the aggregate infrastructure that has already been built from the brand
already been built from the brand recognition, from uh the reputation,
recognition, from uh the reputation, from the the delivery mechanisms that
from the the delivery mechanisms that you might have in place. that person
you might have in place. that person it's like they're like I don't even want
it's like they're like I don't even want like let me just let me cook let me
like let me just let me cook let me crush what I'm really good at and be
crush what I'm really good at and be able to do that at a higher level than I
able to do that at a higher level than I could do if I did it on my own because I
could do if I did it on my own because I couldn't even use my whole superpower to
couldn't even use my whole superpower to the greatest degree that I can because I
the greatest degree that I can because I would get bottlenecked much lower along
would get bottlenecked much lower along the line doing something else that I
the line doing something else that I don't want to do. So huge unlock for me
don't want to do. So huge unlock for me and for the bigger business owners that
and for the bigger business owners that part was probably the most valable for
part was probably the most valable for you. Lesson 22. So I'm 0 for 12 on
you. Lesson 22. So I'm 0 for 12 on executive assistance but I'm hoping to
executive assistance but I'm hoping to be one for 13. Maybe should be lucky
be one for 13. Maybe should be lucky number 13. I I had my first kind of like
number 13. I I had my first kind of like world class EA and so I will just do my
world class EA and so I will just do my very best to describe it. I'm early so
very best to describe it. I'm early so I'm almost I'm almost hesitant to make
I'm almost I'm almost hesitant to make this because I'm like this is like oh
this because I'm like this is like oh I'm in love and and then you're like
I'm in love and and then you're like you're like how's that girlfriend of
you're like how's that girlfriend of yours? It's like oh you broke up you
yours? It's like oh you broke up you know whatever it's terrible. So take
know whatever it's terrible. So take this with a gigantic grain of salt but I
this with a gigantic grain of salt but I I do think that this one work out and
I do think that this one work out and I'll and I'll tell you why. She's a
I'll and I'll tell you why. She's a psychopath and I think I had normal
psychopath and I think I had normal people and I'm not normal. And so I
people and I'm not normal. And so I needed I needed a psychopath and I
needed I needed a psychopath and I realized that the number one thing that
realized that the number one thing that I mean I we've said this in the
I mean I we've said this in the interviews but I still I still wasn't I
interviews but I still I still wasn't I had never actually experienced on the
had never actually experienced on the other side. I knew it in theory but I
other side. I knew it in theory but I hadn't experienced it which is speed
hadn't experienced it which is speed over everything. I needed someone who
over everything. I needed someone who will always respond to me within 60
will always respond to me within 60 seconds no matter when I message and I
seconds no matter when I message and I will go for hours and hours and hours
will go for hours and hours and hours with nothing and then the moment I
with nothing and then the moment I message you I need full resources full
message you I need full resources full attention because in that moment you are
attention because in that moment you are my constraint and I needed someone who
my constraint and I needed someone who had more competence general horsepower.
had more competence general horsepower. So I will say this for for all of you
So I will say this for for all of you guys who are who are founders who who
guys who are who are founders who who who you know have schedules and whatnot.
who you know have schedules and whatnot. One, I think you should be the one who
One, I think you should be the one who manages your time. In terms of who's
manages your time. In terms of who's doing the blocking and tackling, that's
doing the blocking and tackling, that's separate. I think you can outsource
separate. I think you can outsource that. But who makes decisions on your
that. But who makes decisions on your time? If your time is your most valuable
time? If your time is your most valuable resource, why would you want anyone but
resource, why would you want anyone but the person who's the best allocator of
the person who's the best allocator of resources, aka you, to be the person
resources, aka you, to be the person who's who's choosing how that time gets
who's who's choosing how that time gets spent. So thing number one. Two, I think
spent. So thing number one. Two, I think speed above everything. Now, also above
speed above everything. Now, also above everything is general intelligence. And
everything is general intelligence. And I think this is something that I I did
I think this is something that I I did not I did not appreciate. I did not
not I did not appreciate. I did not screen for as much and it was a mistake
screen for as much and it was a mistake and I found this by accident. My current
and I found this by accident. My current is very intelligent. And so as a result
is very intelligent. And so as a result I trust her decision-m to a much higher
I trust her decision-m to a much higher degree and I feel like my ability to
degree and I feel like my ability to actually give true tasks that I do that
actually give true tasks that I do that come up that require horsepower. I can
come up that require horsepower. I can actually give them and be like just do a
actually give them and be like just do a first draft and I can get 80% of that
first draft and I can get 80% of that done and then I can tweak rather than
done and then I can tweak rather than having to just truly do everything to
having to just truly do everything to Novo. So the next piece that I think has
Novo. So the next piece that I think has been really helpful is whether you are a
been really helpful is whether you are a maker or manager, plan your time
maker or manager, plan your time accordingly and live and die by that.
accordingly and live and die by that. I've had some of the most productive
I've had some of the most productive weeks of my life by finally for the
weeks of my life by finally for the first time in so long. I actually feel
first time in so long. I actually feel like I'm ahead, which I've I haven't
like I'm ahead, which I've I haven't felt that in such a long time where I'm
felt that in such a long time where I'm I'm actually proactively time blocking
I'm actually proactively time blocking my time. That's all the free time that I
my time. That's all the free time that I have, but blocking it for what project
have, but blocking it for what project is being worked on each of these time
is being worked on each of these time slots. and she's keeping track of all my
slots. and she's keeping track of all my ongoing projects and knowing what loops
ongoing projects and knowing what loops of like, hey, when are you going to
of like, hey, when are you going to close the loop on this? When are you
close the loop on this? When are you going to Hey, by the way, this this
going to Hey, by the way, this this followed up. And so, I'm sharing this so
followed up. And so, I'm sharing this so that for those of you who are like, man,
that for those of you who are like, man, I really need executive assistant. Pay
I really need executive assistant. Pay more than you expect, look for someone
more than you expect, look for someone who's more intelligent and say speed is
who's more intelligent and say speed is non-negotiable and have them watch the
non-negotiable and have them watch the maker manager video because I think that
maker manager video because I think that will give a huge amount of context to
will give a huge amount of context to how you work your life. And so, for me,
how you work your life. And so, for me, that that was a huge a huge learning for
that that was a huge a huge learning for this year. Next one is if there's ever a
this year. Next one is if there's ever a problem in an organization or a
problem in an organization or a department or a line of revenue, look at
department or a line of revenue, look at the leader. And here's the here's the
the leader. And here's the here's the rule. The leader is always the problem.
rule. The leader is always the problem. Not sometimes. The leader is always the
Not sometimes. The leader is always the problem. So if a function is mediocre,
problem. So if a function is mediocre, it's because the leader is mediocre.
it's because the leader is mediocre. Period. Full stop. No questions. So it's
Period. Full stop. No questions. So it's either the leader and the team or just
either the leader and the team or just the leader. But it's never just the
the leader. But it's never just the team. So, if the leader is mediocre and
team. So, if the leader is mediocre and then they brought in mediocre people,
then they brought in mediocre people, it's the leader and the team. If the
it's the leader and the team. If the leader is mediocre and you've got a
leader is mediocre and you've got a great team, the leader will turn the
great team, the leader will turn the great team into a mediocre team. And so,
great team into a mediocre team. And so, I had a conversation with a business
I had a conversation with a business owner the other day and he had four
owner the other day and he had four locations. Two of them were doing well,
locations. Two of them were doing well, two of them were doing poorly. I asked a
two of them were doing poorly. I asked a zillion questions to finally get the the
zillion questions to finally get the the the the fun fact, which is that he had
the the fun fact, which is that he had somebody in the company who was running
somebody in the company who was running them, who was a longtime friend, and
them, who was a longtime friend, and also, we'll just say an addict. I'll
also, we'll just say an addict. I'll just say that. and every day was coming
just say that. and every day was coming up to work messed up, inebriated,
up to work messed up, inebriated, whatever you want to say. And he was
whatever you want to say. And he was asking me for tactical business advice
asking me for tactical business advice when I was like, there is no tactical
when I was like, there is no tactical business advice. There is nothing that
business advice. There is nothing that will matter because every no one will
will matter because every no one will listen to somebody who they're like,
listen to somebody who they're like, well, why don't you show up to work
well, why don't you show up to work sober? Why don't we start there, right?
sober? Why don't we start there, right? No one will respect. Imagine that guy
No one will respect. Imagine that guy coming in and being like, hey guys,
coming in and being like, hey guys, let's pick up the pace. What? Like what
let's pick up the pace. What? Like what are we talking about? And so it's like
are we talking about? And so it's like all these questions about like pricing
all these questions about like pricing and sales. Dude, none of this matters
and sales. Dude, none of this matters until we fix the leader problem, right?
until we fix the leader problem, right? But the thing is is that's obviously an
But the thing is is that's obviously an extreme example, but it happens at every
extreme example, but it happens at every level. If your your media team's not
level. If your your media team's not working well, the leader, if the if if
working well, the leader, if the if if your sales team isn't good, the leader,
your sales team isn't good, the leader, the question is after you pull the
the question is after you pull the leader out, is the team also screwed?
leader out, is the team also screwed? Got a 50/50 shot there. If they had a
Got a 50/50 shot there. If they had a low bar and brought in low bar people,
low bar and brought in low bar people, that sucks. Now, if you have, now it's
that sucks. Now, if you have, now it's like, well, what happens if you had a
like, well, what happens if you had a bad team and you put a good leader in
bad team and you put a good leader in place? Have you ever seen a good coach
place? Have you ever seen a good coach turn around a bad team? Pretty sure
turn around a bad team? Pretty sure there's a ton of movies about it. Yes.
there's a ton of movies about it. Yes. If you have a great leader, they can
If you have a great leader, they can turn a great they can turn a mediocre
turn a great they can turn a mediocre team into a great team. So I I think I
team into a great team. So I I think I spent too much time early on my career
spent too much time early on my career trying to find pinpoint problems.
trying to find pinpoint problems. Straight up there's a problem with a
Straight up there's a problem with a function leader the issue. Just solves
function leader the issue. Just solves it. This is so much faster. So there's a
it. This is so much faster. So there's a razor for you. Lesson 24. In the world
razor for you. Lesson 24. In the world of AI, your brand is your mode. All
of AI, your brand is your mode. All right. Now this is not going to be news
right. Now this is not going to be news to some of you and for some of you this
to some of you and for some of you this hopefully hopefully it's news to none of
hopefully hopefully it's news to none of you. Um, but if it is news, welcome to
you. Um, but if it is news, welcome to 2026. So if if if that's the case,
2026. So if if if that's the case, because services and and and products
because services and and and products can become increasingly commoditized and
can become increasingly commoditized and listed goals and content, things like
listed goals and content, things like that are are easy to reproduce, how can
that are are easy to reproduce, how can you build a brand, right? So branding,
you build a brand, right? So branding, the act of it is who and what you
the act of it is who and what you associate with that is what will matter.
associate with that is what will matter. And so in a world of AI, you have to be
And so in a world of AI, you have to be thinking about this. And so if you're a
thinking about this. And so if you're a local business, for example, your brand
local business, for example, your brand will be mostly word of mouth and the
will be mostly word of mouth and the reviews about you online. That's what
reviews about you online. That's what the reality is. But just about every
the reality is. But just about every other business, it's that plus all of
other business, it's that plus all of the content that you're making publicly,
the content that you're making publicly, right? And so this is just the the the
right? And so this is just the the the most to the point version of this that I
most to the point version of this that I can give you, which is as always, give
can give you, which is as always, give away the secrets, sell the
away the secrets, sell the implementation. People do not want to do
implementation. People do not want to do the work for whatever it is that you're
the work for whatever it is that you're showing. Whether you're showing them how
showing. Whether you're showing them how to fix toilets, they'll just call you to
to fix toilets, they'll just call you to do their plumbing. If you're telling
do their plumbing. If you're telling them how to fix relationships, they're
them how to fix relationships, they're still going to call you to help them fix
still going to call you to help them fix their relationship. If you tell them how
their relationship. If you tell them how to fix their business, they'll call you
to fix their business, they'll call you to help them fix their business. Right?
to help them fix their business. Right? People do not want to do the work or
People do not want to do the work or they don't want to do it alone. Key,
they don't want to do it alone. Key, myself included. I will always pay to go
myself included. I will always pay to go faster and decrease risk so they don't
faster and decrease risk so they don't have to do backtracks. Like I get the
have to do backtracks. Like I get the DIY. I will consume something and be
DIY. I will consume something and be like, "This person clearly knows what
like, "This person clearly knows what they're talking about. I will pay to go
they're talking about. I will pay to go faster and I will pay to have you take
faster and I will pay to have you take this generic thing, make sure it's
this generic thing, make sure it's applied to my business so that it's
applied to my business so that it's right because I don't want to pay the
right because I don't want to pay the tax of ignorance." And so if you know
tax of ignorance." And so if you know this to be true, then the question is if
this to be true, then the question is if I want to build a brand in 2026, I want
I want to build a brand in 2026, I want to think about what are the curated
to think about what are the curated associations that I want to make that
associations that I want to make that will reinforce the position that I want
will reinforce the position that I want to have in my prospect's minds. What
to have in my prospect's minds. What things do they like that I want them to
things do they like that I want them to think of me when they think of that? And
think of me when they think of that? And so that's what we want to do. So what do
so that's what we want to do. So what do you think we're going to do? I'm going
you think we're going to do? I'm going to do a lot more business fixing next
to do a lot more business fixing next year and I have to build a lot more
year and I have to build a lot more infrastructure in order to do that. But
infrastructure in order to do that. But it's going to be demonstration of skill,
it's going to be demonstration of skill, right? What's something that very few
right? What's something that very few people can do in your market that you
people can do in your market that you can demonstrate better than anyone else?
can demonstrate better than anyone else? Do that. Do as much of it as you
Do that. Do as much of it as you possibly can. Do it until your eyes
possibly can. Do it until your eyes bleed because the market won't even know
bleed because the market won't even know you exist by the time you're getting
you exist by the time you're getting tired of it. So on the on the the talk
tired of it. So on the on the the talk track of brand, brand has to be
track of brand, brand has to be constantly reinforced. So you need to
constantly reinforced. So you need to keep pushing the envelope to stay
keep pushing the envelope to stay relevant. Something is only a big deal
relevant. Something is only a big deal if you make it one. No one knew about
if you make it one. No one knew about the launch. No one. I have almost 20
the launch. No one. I have almost 20 million or 17 I don't even know what it
million or 17 I don't even know what it is. Between 16 17 between 16 and 20 I
is. Between 16 17 between 16 and 20 I haven't checked in a while. 16 and 20
haven't checked in a while. 16 and 20 million followers or subscribers across
million followers or subscribers across all different channels or whatever. The
all different channels or whatever. The vast majority of people did not know
vast majority of people did not know about the launch. Didn't even know about
about the launch. Didn't even know about it. And I tried really really hard. And
it. And I tried really really hard. And in order to stay relevant, you still
in order to stay relevant, you still have to keep going bigger and bigger.
have to keep going bigger and bigger. Like why would I do the launch? It's
Like why would I do the launch? It's like well I got to like it's like just
like well I got to like it's like just because like Chris Bumpstead when he won
because like Chris Bumpstead when he won the first Olympia, it doesn't mean he's
the first Olympia, it doesn't mean he's done. It's like we got to win the
done. It's like we got to win the Olympia again. You got to maintain the
Olympia again. You got to maintain the title. You gota It's like that's why
title. You gota It's like that's why it's defending the title, right? So, you
it's defending the title, right? So, you have to continue to and I think this is
have to continue to and I think this is what's lost in some people's like it's
what's lost in some people's like it's like, man, the climbing the climb is so
like, man, the climbing the climb is so tough. It's like, no, man, holding the
tough. It's like, no, man, holding the tops way harder than climbing it, right?
tops way harder than climbing it, right? And there's always levels to the game.
And there's always levels to the game. And so, it's like once you once you get
And so, it's like once you once you get your title, whatever your title is for
your title, whatever your title is for you, it's like you have to keep taking
you, it's like you have to keep taking on new title bouts to keep defending the
on new title bouts to keep defending the belt. And maybe the stages keep getting
belt. And maybe the stages keep getting bigger, right? In business that like the
bigger, right? In business that like the stages can only keep getting bigger.
stages can only keep getting bigger. I'll tell you a failure that I had
I'll tell you a failure that I had around the launch. I think on the PR
around the launch. I think on the PR front, I had planned for a big PR kind
front, I had planned for a big PR kind of blastoff on the back end of that and
of blastoff on the back end of that and basically that that fell flat. Not
basically that that fell flat. Not basically the the PR firm that I had I
basically the the PR firm that I had I didn't have really any attention to put
didn't have really any attention to put towards it and I saw it as it was a
towards it and I saw it as it was a miss. It was a miss. Like how many
miss. It was a miss. Like how many articles did you see about some like
articles did you see about some like some internet person doubling the world
some internet person doubling the world record? Not that many. and that like
record? Not that many. and that like that would totally have been fixable if
that would totally have been fixable if I had just had queued up a bunch of PR
I had just had queued up a bunch of PR and I just I just didn't. So that was a
and I just I just didn't. So that was a miss. That was a miss for me. We'll do
miss. That was a miss for me. We'll do better next time. Next one. The greatest
better next time. Next one. The greatest risk to the business is that you don't
risk to the business is that you don't feel like doing it anymore. This is
feel like doing it anymore. This is super real. So the reason that people
super real. So the reason that people like most businesses don't actually run
like most businesses don't actually run out of money. The founder runs out of
out of money. The founder runs out of will. And so like you have to you have
will. And so like you have to you have to get you have to have the frame shift
to get you have to have the frame shift to it has to be worth suffering for. And
to it has to be worth suffering for. And I do think that making money is a
I do think that making money is a component of it. Like I had somebody the
component of it. Like I had somebody the other day who was like, "Hey, I'm
other day who was like, "Hey, I'm thinking about switching this business."
thinking about switching this business." And that's how most businesses die,
And that's how most businesses die, right? The entrepreneur just switches
right? The entrepreneur just switches and says, "It's not worth it for me
and says, "It's not worth it for me anymore." I said, "If this thing made 10
anymore." I said, "If this thing made 10 times the money, would you keep doing
times the money, would you keep doing it?" And they're like, "Hell yeah." I'm
it?" And they're like, "Hell yeah." I'm like, "Would you look at this other
like, "Would you look at this other business?" They're like, "No." I'm like,
business?" They're like, "No." I'm like, "Well, then dude, let's just fix the
"Well, then dude, let's just fix the business." Right? So, making more money
business." Right? So, making more money can help, but I will say kind of like
can help, but I will say kind of like the electroshock therapy. If it made 10
the electroshock therapy. If it made 10 times the money, it will help in the
times the money, it will help in the short term, but not forever because
short term, but not forever because plateaus are often the ones that stay in
plateaus are often the ones that stay in it the longest. So, what do I mean by
it the longest. So, what do I mean by that? Like they it's like the shrinking
that? Like they it's like the shrinking and the growing are the ones that are I
and the growing are the ones that are I think the most painful. The plateaus,
think the most painful. The plateaus, people can just stay in them for years
people can just stay in them for years because it's just like not painful
because it's just like not painful enough to quit, but still very painful.
enough to quit, but still very painful. So the ones that grow fast are in lots
So the ones that grow fast are in lots of pain and eventually they don't need
of pain and eventually they don't need the money anymore at all. And so those
the money anymore at all. And so those are very like if you've grown a lot and
are very like if you've grown a lot and made a lot of money really quickly, you
made a lot of money really quickly, you then stop wanting to be in all the pain
then stop wanting to be in all the pain that this tremendous growth provides you
that this tremendous growth provides you because you're like I don't need to do
because you're like I don't need to do this anymore. And so on the flip side,
this anymore. And so on the flip side, the ones who are shrinking or are very
the ones who are shrinking or are very volatile deal with the most pain
volatile deal with the most pain obviously. So you have the same
obviously. So you have the same volatility and pain of the of the growth
volatility and pain of the of the growth guy except you also aren't making money.
guy except you also aren't making money. So that is the most pain that you will
So that is the most pain that you will be in business. And so what we're
be in business. And so what we're solving for as entrepreneurs is
solving for as entrepreneurs is something worth doing, right? Having
something worth doing, right? Having something and I think that the most
something and I think that the most powerful thing that has helped me is
powerful thing that has helped me is having something outside of yourself
having something outside of yourself that the business acts as a vehicle that
that the business acts as a vehicle that you drive towards. And so some of so for
you drive towards. And so some of so for some people that's like some societal
some people that's like some societal impact that you want to make. That's
impact that you want to make. That's some problem that you want to solve. For
some problem that you want to solve. For me it's the person that I want to
me it's the person that I want to become. But like that's very easy to say
become. But like that's very easy to say and I've heard many people say it. Their
and I've heard many people say it. Their actions don't align with that. So
actions don't align with that. So whatever that thing is for you and it
whatever that thing is for you and it might not be that you want to become
might not be that you want to become this person, but whatever that thing is
this person, but whatever that thing is for you, it's like it has to be real
for you, it's like it has to be real because and you have to you have to fix
because and you have to you have to fix the business to allow you to to achieve
the business to allow you to to achieve that thing because once you make all the
that thing because once you make all the money that you want to make, you have to
money that you want to make, you have to have another reason to do it. And so
have another reason to do it. And so that is why entrepreneurs not wanting to
that is why entrepreneurs not wanting to do it is the greatest risk to the
do it is the greatest risk to the business. And I think that like I have
business. And I think that like I have to always keep that front of mind like
to always keep that front of mind like the thing that will like I have to be
the thing that will like I have to be willing at this point for
willing at this point for acquisition.com to do some things that I
acquisition.com to do some things that I just want to do even if it's not in the
just want to do even if it's not in the business's best interest because it's in
business's best interest because it's in my best interest and if it's in my best
my best interest and if it's in my best interest I will keep doing the This.
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