The Game with Alex Hormozi - F*ck "End of Week" | Ep 142

Episode Date: August 8, 2019

"’Speed is king’, is one of the core tenets of the business." Today, Alex (@AlexHormozi) emphasizes the importance of speed in executing decisions and getting things done in order to improve one's business. He encourages entrepreneurs to prioritize effectively, set deadlines, and push back on excuses to achieve faster growth and success.Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.Timestamps:(1:23) - Success comes from shortening the idea-to-implementation loop(2:58) - Faster execution improves the organization(5:09) - Test and improve ideas, not just follow the playbook(7:12) - Improve speed in solving problems and improving things(8:33) - Solutions to problems should happen today, not in weeks/months.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Good morning, everyone. Hope you guys are having a fantastic Friday. Today, I wanted to talk about something that has been on my docket for a while, but today felt like the right day. So I'm calling this fuck end of week. And what I mean by that is one of the things that I've seen across the board when we're talking to entrepreneurs and, you know, the gym owner community that we have is that the one trait I see over and over again that is clear, to the people who are winners, right?

The top 1%. I'm not talking top 10%, but the top 1% is the speed with which they execute after making a decision. And so one of the definitions that, like we talk about in the community, is that definition of power,

as I understand it, is the gap between thoughts becoming reality. And so if you thought about an omnipotent being, right, someone who has unlimited power as they think that thing would be, right? And so if you were to believe even a creator of some sort, then you might think as that creator thought the universe became, right? And so if you think that as like the ultimate scale of power, then the closer we can

get to that, the more powerful we become, the more potent we are as entrepreneurs. And so I see this so many times that it's, it's not even, it's not even a, oh, like this is associated with success. Like, this is what creates success. Because the gap between where you decide something is, a good idea and when it actually occurs is the loop with which you can improve your business. And so it's a lot like, I can't remember what the saying was, but it's not like how old the car is about how many miles are on it. What I mean by that is like we're young, right? But there's been a lot of iterations that have happened from, you know, when the business first started when I started my first gym until now. And I think the key to that is the speed of the

Utiluk. And that's the second military term like observe, orient, decide, act. And it's just the loop with which that you can basically see what's going on, make a decision, act on it, and then do that whole loop again, right? Because the faster you can pivot and iterate, the more responsive you are as an entrepreneur, the faster you can take advantage of opportunities, the faster you can find out what failures are, then move on, right? And so, I want to talk about this within the context of running a team and employees and then also

within yourself. And so from running your team, right, one of the things that, you know, once you're moving out of you doing things all the time, there's how do I get other people to do things? And so that's why I called this like, fuck end of week, right? Is that I, one of the things, one of my biggest pet peeves is like, yeah, I can get to you that by end of week. I'm like, why don't you just get it to me in an hour because that's how long it takes? And then all of a sudden, it's like, oh, it's like, well, I have a meeting right then. It's like, is it more important than this? No. Okay, well, then do it. Right. And you can speed, like if you think about how you can run an organization like that, if you can get things

done end of day, right, rather than end of week, you were literally speeding up the organization 7x. Think about that. And so when you're thinking about deadlines, if you're thinking about expectations, you as the owner can set the, you set the cadence. If people say, hey, can we do this? And then you're like, cool, let's start right now. You set the tone for how the organization is going to move, right? How quickly it's going to orient, how quickly thought. to become reality and ultimately how powerful organization will become because of the speed, right? And speed isn't doing things fast. It's basically just not being distracted by other shit that doesn't matter. It's being able to prioritize, right? And most people, a lot of the times,

aren't doing something that's high priority, right? A lot of times they're just doing nothing, right? And so if you can, if you can speed up that loop and force and apply pressure to your team to not do things by end of week or even end of day. It's like it's 10 a.m. Can you get this done by noon? Okay. And then you can have that loop happen three times within a day rather than it taking three weeks, right?

Because you've set that cadence from the beginning and then things get done faster. I was talking to, so I've been reading some really interesting books lately and I referred them out to a handful of entrepreneur friends that I have that are all doing five to 15 million, kind of in that range. And what was amazing to me is that every single one of them read the book immediately, sent me back their notes and what they were going to do with it. And basically they were asking feedback on the angle that they were going to take with it. And what's fascinating to me is that if you look at, if you look at lower level entrepreneurs,

and I'm not saying that in a negative way, I'm just saying in terms of just objective revenue, like just they haven't achieved as much. The delay between being able to gain information in act is so, much longer and that's why they how where they want to be right and so it's kind of the same degree people who are like who pay for our program and haven't gone through the point i'm like what do you do right like what what what education you have that is not relevant to your business like you're reading a motivational blog right now when you have to translate that motivation into a thought that you're then going to quote test and then you have to see how that test works and then maybe

it improves something rather than just following the playbook that has already been tested and has already the tree has been shook, right? Hey guys, real quick, if you're new to the podcast, I have a book on Amazon. It's called $100 million offers that over 8,000 five-star reviews and it has almost a perfect score. You can get it for 99 cents on Kindle.

The reason I bring it up is that I put over 1,000 hours into writing that book. And it's my biggest gift to our community. So it's my very shameless way of trying to get you to like me more and ultimately make more dollars so that later on in your business career

I can potentially partner with you. So that's my give. Go check it out, Amazon, and back to the show. And so if you look at like Joey, for example, who by all definitions, his gym is the number one gym within gym launch, right? He was, he had already finished everything in legacy by week eight, his first eight weeks. He'd already implemented every single system in legacy. And so it's not like he has more hours in the day, right?

It's not like his business is different. It's just that his level of efficacy in execution was so high because he didn't allow himself. to get distracted by things. And the moment he has something he needs to execute, it creates this itch inside of him that he can't move forward without executing this so that the relief comes. And if you can start to foster that type of behavior

in yourself and those attitudes about execution, you will grow faster and you will become more powerful as an entrepreneur, right? If you think about your competition, who would you fear? The competitor who sees what you're doing can immediately execute, and improve on it at a faster loop than you can even understand what's going on, right?

And that's where speed of first to market and things like that don't matter as much because if an ex, if a competitor can execute an out Ooteloo, right, can speed that loop up faster. They can iterate and improve on it faster than you can and then you have no chance to catch up, right? And so if you're looking at your business, look at it from a context of speed of how long does it take us to improve things, right? How long from understanding that our churn is high to executing the five horsemen right how long did that take we knew what the problem was how long did it take for us to do

and if you can if you can if you can get real with yourself about how many actual hours it will take to do something and then you look at your week and you think okay what am i doing today that is more important than this and where can i put these two hours and start with the moment that you make the decision and then all of a sudden you'll be getting things done that day that afternoon rather than end of week end of month right we purposely delay these things because we just procrastinate for no reason when the the problem will not go away right and so that is why within jim watch speed is king is one of the core tendons to the business because like you have to and the tone has to start with you as the entrepreneur like you have to apply that pressure you have to say fuck end of

week why like what are you doing today that's more important in this right what are you doing in the next two hours that's more important to this tell me right and a lot of times you'll get the answer like well i guess i can do it now it's like yeah then let's do it now let's get it done right And that small change can 7x, right, if you even going from end of week to end of day, can 7X how quickly your business grows because the solutions that you need to implement to solve the problems and break through the bottlenecks

happen today, not in a week, not in a month. And then the reaction to the next thing that breaks, the next bottleneck in the business happens not in a week, not in a month, but in a day. And then that's how quickly you can pivot from where you are to where you wanna go because it's not one big thing. It's a million small turns that will get you there.

So anyways, I hope I hope anyone, you know, somebody found value in this. If you have an employee or you're managing your team and you want to implement new things, start with today, right? Start with end of debt, not end of week. Start with end of the next two hours and then work backwards from there and then apply pressure and push back on excuses for why something else, why something can't be done. Ask for why do you think this. thing that you're going to do is more important than this. And I want a real answer, right? And if they

can't give you a real answer, then it means that I need to help you prioritize. And that's fine. But this is now going to be your priority because this is what drives revenue. This is what drives retention. This is just going to drive the business. So look at your schedule, identify the bottlenecks you have, and then start doing them now, not in tomorrow, not in a week, not in a month, because There's no point. It's just the speed with which you can close the gap between your thoughts and your decisions and the reality that you create in front of you will dictate how powerful you are as an entrepreneur and even as a human being. So anyways, have an amazing day. Have a fantastic Friday for my Jim Lords. I will see you guys on the call later today. Otherwise keep being awesome tag, like, comment, all that jazz. Lots of love. All right. All right.