The Game with Alex Hormozi - No Opportunity is forever | Ep 256

Episode Date: December 11, 2020

It’s now or never, you decide. Today, Alex (@AlexHormozi) talks about shifting your perspective when it comes to opportunities that won’t last or work forever, and getting to the bottom of why people are giving themselves the excuse to not begin something.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:(0:28) - People find excuses not to start due to lack of understanding.(2:11) - Longevity of opportunities shouldn't be underestimated, despite being finite.(3:21) - Arbitrage created cash flow and human resources for many businesses.(4:27) - Fear and laziness hinder us from seizing opportunities.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

The only things that don't actually have an end to them are things that you do not understand. Welcome to the game where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe. What's going on, everyone? I wanted to make this short, short video for you because I had a number of conversations last week that resulted in kind of this consistent point of coaching, which is it's never going to work forever. And so I've seen this happen in so many different situations where people will try and give themselves a reason to not even begin something because they think that there is an end to it.

When the reality is the only things that don't actually have an end to them are things that you do not understand. And so if you don't, if you see something as a forever option, then it probably means you do not understand it well enough to begin doing it. So there's a little mind fuck for you. And so let me give you a couple examples to bring this home. So, you know, when I was, you know, in the fitness space, I'd have a lot of people who'd come up to me and be like, hey, man, like, I want to start working out. I want to get bigger. I was like, awesome. You know, this is how you got to train.

Blah, blah, blah. And they'd be like, well, I don't want to get too big. I'm like, you don't even look like you work out. So why don't we start with that? And then we can worry about you getting too big, right? So it's not a perfect example for business, but that's an example of somebody trying to discount starting. because they think they see an end that they do not even understand the journey

well enough to comprehend. Another example would be, hey, we're running TikTok ads right now and we're crushing it, right? And someone says, well, we don't know how long TikTok's going to be around or Snapchat or insert whatever new opportunity there is. And so we don't want to do it, right?

But the reality is all opportunities are, by their very nature, arbitrage where you're taking advantage of inefficiencies within two systems or two markets. And so over time, all arbitrage disappears, right? And then markets become more efficient. That's how markets work, right? More and more people see the opportunity. The arbitrage decreases until eventually it's efficient, right? And so when you're looking at opportunities and you see something, and it might be a big opportunity, but it only is going to be open for two years or three years, do you do it or not? It's another series of questions that would happen after that. But I would not

to discount it simply because you know that it is finite, because all opportunities are finite. And to take this example to a max degree of exaggeration, think about the Fortune 500. There's only one company that's been on there for over 100 years, and that's GE, just one. One company, right? And so every one of those companies you might have thought, or during their day, might have been like, this thing's going to be here forever. The reality is, it's not. And markets change so rapidly, it's difficult to reshift an entire infrastructure. Some companies can do it. Many fail.

Hey guys, love that you're listening to the podcast. If you ever want to have the video version of this, which usually has more effects, more visuals, more graphs, you know, drawn out stuff. Sometimes it can help hit the brain centers in different ways. You can check on my YouTube channel. It's absolutely free. Go check that out if that's what you are into. And if not, keep enjoying the show.

And so if your business is founded upon, taking advantage of an arbitrage opportunity, or an inefficiency in a marketplace, or something that is fleeting, right, that comes and goes, that's okay. Many businesses were built off of arbitrage opportunities that created cash flow, human resources that could then be deployed and pivoted in another direction when the opportunity closes. And so it's kind of like saying, well, I don't want to invest in this investment because it's only going to triple my money in three years. Well, what do I do after it triples my money?

well, you take the money you invest it somewhere else, right? It's the same concept, except you're just applying it to your business. And so this is just a caveat that was top of mind that I figured I would share with you because just so many times we try and take ten steps forward without even realizing that there's this big pile of money, and you can just pick it up and move about your life, and it doesn't need to be forever. And so it's just remembering, like, if this were an investment, would you triple your money in three years?

Probably. So then don't worry about what you're going to do in 20 years. years because you're going to be such a different person than anyways. You might not even want to be in the same thing forever. And so I think sometimes we just create this reason because the real reason is that we fear failing when something seems so easy. Right? We fear failing because we might not think we're good enough or we're being lazy and we don't want to even start or try. And so it's usually the fear thing, but for some people, you should need to get off your ass. But anyways, I hope I found this valuable. Maybe this, you're at a decision right now where you're thinking about investing. something or you're thinking about taking advantage of an opportunity or thinking about investing your

time into taking advantage of some sort of inefficiency. And if it's a massive one, even if it's going to be fleeting, as long as the return is high enough, I think many times it can be worth it. So anyways, this is more targeted for newer entrepreneurs. If you're in an existing vehicle, it means you've already found an arbitrage opportunity, so don't try and do another one, unless that's something that feeds your original model. But anyways, I hope that makes sense. Keep being awesome. Have a fantastic day. And I'll catch you next video. Bye.