The Game with Alex Hormozi - Tradeoffs. The TRUE price of your desire | Ep 128

Episode Date: May 29, 2019

People want what they don't have but don't want what they do have. Today, Alex (@AlexHormozi) explores the trade-offs that come with achieving success and the sacrifices that entrepreneurs need to make to pursue their goals. He emphasizes that success requires hard work and dedication and encourages listeners to consider whether they are willing to make the same trade-offs as those who have achieved 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:(1:10) - Exploring the trade-offs of entrepreneurship(2:52) - Sacrifices for business growth & its value(8:43) - Understanding the difference in returns on investment(11:36) - The trade-offs of sacrificing for success(13:11) - Understanding the trade-offs of growth and prioritiesFollow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Hey, what's the one, everyone? I hope you guys having a wacky Wednesday. I wanted to make this video because there was like three or four different things that kind of contributed into the topic of this talk, which is, I'm calling it tradeoffs, the true price of your desire. And the first one was Nissan Trotter when he flew out. And I've had a couple of people, actually, I mean, we've got a lot of people fly out to our home for VIP days. So people who win after they sell a certain amount of stuff. We do like top 10, top seven, you know, et cetera. And so we fly them out. And invariably, one of the things that comes back is they're like, I think it just became real to me how like all in you are on this. And so like there's some things that aren't conveyed that I can only convey in like in person. But I'm going to do my best to kind of convey this to you. The other reason that I wanted to bring this up was because I had, there's a thread in the legacy group about there's a single mom who's like, you know, what like how are you guys managing this? How are you managing your business and being a single mom? single parents. And so I wanted to address that because like this is the real. You know what I mean? Like this is the real real. And so what I want to tell you is the things that you have that I don't

have. Right. So like there are some places that you are trading off that you have things that I don't. Right. Like I don't have a social life. I don't. I don't have weekends. I don't. They are the exact same to me as weekdays, except I get more done because I have less meetings. I don't have, like, I don't have really close family relationships. I don't talk to my mother barely at all. I talk to my father on a very limited selection of topics that we have predefined as things that don't piss either of us off, right? I don't have siblings.

I have two step siblings. I haven't seen in multiple years. I haven't talked to them for any extended period of time over the last five. I'm trying to explain this to you. I don't have kids. And so, like, everything that I do is to grow this. And for those of you who are listening right now and are like, I don't want that life. Cool.

Like, good. You know what I mean? Like, that's fine and it's okay. And if there's like, well, I don't have to give X up in order to have Y. The route is, like, maybe, but maybe not. You know, and it's also a question of speed. You know what I mean? Like, there are certain amounts of time within the day that you can do things.

And if you're putting more, like, it stressed me out that Laila wanted to get a cat. Just to just you guys understand, like, where I operate from. Like, getting a cat, stress me out. Because I thought there's going to be moments where I'm going to want to get stuff done. And, like, I like, I like animals. Like, I do. I like them. It's like a weakness.

Like, I love them. Right. but I know that. And so I didn't want, like, he's not a lot of my office, right? And so,

like, he can't be around because when he was here for the first week, I couldn't get shit done because I just wanted to, like, pet him and hold him and, like,

you would meow, and he'd come, you know, walk all over my keyboard, but it was distracted, right? And so I'm only bringing this up because there was,

there's a video that I made on my, on my Facebook probably, I think it was three years ago. So this is right before I actually made the 180 decision to sell all the gyms. I had a plan to open

four more and get to 10 by the end of the year. All right? And so we were at six at the time and I knew which locations we were going to do for 7, 8, 9. And I made this video about the things that I was willing to give up, the things that I was willing to sacrifice. And so I listed some of these things.

And these are things that I still don't do, but some of you may. Like, I don't follow any sports teams. I don't have a team. I don't know what the stats are. Like, I don't, we don't watch. Like, in that video, at that point in my life, I had given up Netflix at any kind of relaxation, right? I didn't read books.

I didn't have TED talks, right? Like, the only thing that I was doing was trying to grow my gyms, right? And at that time, I had no kids, no wife, no girlfriends. You know, be like, no family, no nothing. You know what I mean? And so, like, when people fly in person, they're like,

oh, like, I get it. Like, this is all you do. And I'm like, yeah. Like, this is all I do. Like, this is my game, right? But the thing is, it's like, that's a tradeoff. And like, the thing is, it's like, for me, I value what we are doing more than I value these other things right now. If that's not you, that's cool. Just be, like, just understand. And also, and I'm trying to say this in a good way, because, like, if you see some person who's achieving these crazy things, look at the

tradeoffs that they have and ask yourself, is that a good way? And ask yourself, is that a good way? And, you know, and I'm trying to say this. I'm trade I'd be willing to make and it might not be. It isn't for most people, which is why they don't achieve what they think they want because the reality is that everyone has what they want. It's just not what they wish they wanted. Right. Like I wish that I wanted to have the body I wanted more than staying in bed, right? But you really want to stay in bed more. And that's why you look the way you look. You wish you wanted this more, but you don't, right? You wish you wanted to have the really successful business, but you really actually want to

spend more time catching up with friends and plan five, you know, rec football or watching your, you know, spending Sunday watching football or Saturday watching college, whatever it is, right? Like, you want this, you want to want this other thing, but you really want what you already do, because

if you wanted it more, you would just do that. Right? And so I guess in some way I'm trying to give permission to the people who like keep beating themselves up about what they're not doing, to just be like, it's okay. Like, I think it's just a matter of accepting the fact that you don't want that, and that's fine. Like, 80% of the people who go into seal training, or don't quote me on the staff,

but the majority of the people go into seal training, to be a Navy SEAL, drop out. They don't get cut. They drop out on their own volition. They voluntarily leave, despite preparing for years, taking all these tests, and all of this stuff to qualify, to be selected, to go into the school to become a Navy SEAL. and they drop out. And the reason they say they drop out is because they don't think it's worth it. It's not worth it.

This is too much shit to put up with. And they're probably right. And the school is meant to do that, to weed out who wants it the most. And so they make people go through things that test how much they value this thing. So like, that's like all it is. It's just the tradeoffs. And I just want this to be real for everyone because like, I don't have what many of you have.

I don't. I don't have. And I've sacrificed lots of areas that most people find important. I don't. But many people find important to achieve what I do believe is important to me. Hey, guys, real quick, if you're new to the podcast, I have a book on Amazon called $100 million offers that over $8,000 five-star reviews. It has almost a perfect sport. 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 give 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 push a partner with you. So that's my give. Go check it out. Amazon and back to the show. So I think that like there's all the tactics and there's all the business strategy and there's all this other stuff, right? And it's important. But the only reason I was able to study all of that stuff and spend all that time and like compress the amount of time it took us to achieve. X is because I've probably done the same amount of like actual work that some people do in 15 years in five.

Right. It's because I don't have all of these other things that they give their time and more importantly, their attention to. Right. And so I'm just, I'm just trying to paint this for everyone because like, like, and this is not meant to be some like motivation. Like success ain't free. Like, you know, like, like, rent is due every day. Like, it's just not, it's like, that's not my style. But I'm saying like logically.

Like, I don't. have anything but this, right? I've got Layla, I work out. That's it. And then, like, I say that. And still, on some level, you're like, huh, I get that. But then when people see us in person, they're like, oh, shit, like, he really doesn't do anything but work and work out and hang out with his wife. Like, that's actually all he does. And it is literally all I did. And when I had my gyms, and I grew six in three years, right? Like, people were like, wow, how'd you of six gyms in three years because I didn't do anything else. I didn't have friends. I didn't have a social life. I didn't have kids. You know what I mean? Like I didn't, I didn't have any of that.

I moved to an area where people didn't know who I was. I went to Huntington Beach and I'm from Baltimore, Maryland. I didn't know anyone. And so I had no time to do all this other stuff. And so I had no choice but to just commit my time to this, which is the only thing that I got fulfillment from. And so like, I'm just painting this picture for you that it's okay if you're like, well, I'm a single mom, I don't want to do that. I'm like, good. Don't. Don't. You know, like, it's fine. But don't expect to get the same return, right? Because I'm investing more in this. You're getting a higher return on your kids. I just don't have it. So, like, my return is here, right? But, like, I, like, don't expect your return on it. Like, actually expect your return on investment to be

same. I'm just investing more. Right? And that's, and that kind of wraps into a different talk that I was going to make separate, but like, while we're doing it, let's do it. Is that there are two types of people that I've seen in the entrepreneur space. There are optimizers and there are maximizers, all right? Optimizers are minimum effective dose. 80, 20, Pareto principle, just do

what, like, I want to have a lifestyle business. I want to be free of this. I want to make money and not have to blood, blah, blah, blah, blah. That is that side person. And that's okay. It's fine. It's fine, right? But that person will never be a maximizer, never in a million years. Because maximizers understand that diminishing returns are still returns, right? Like going from my first sale to my hundreder's sale, I made more gains in the zero to a hundred than I did from a hundred to a thousand, but I'm way better at a thousand than I am at a hundred. And that's the difference. Like Olympians

consistently trained for hours and hours and hours to get a tenth of a second off of something. And what's interesting is that despite the fact that you get diminishing returns from maximal input, you get disproportionate returns as you approach the diminishing return line. And so it's two asymptotes, right? As you progress, progress gets slow and slow and slower, but the return on your progress gets higher and higher and higher. because the difference between first place in the Olympics and third is enormous, right? And so as those tiny little incremental returns happened, you get this huge exponential lift on the back end. And that is why maximizers beat optimizers every single day or week, right?

And so, like, that is how I live. I'm a maximizer. Like, when I played video games as a kid, I would literally keep playing the same level in level two until I maxed out all of my stats before going to level three. because I would hit the same the same like go around the tree and the same guy would appear and I'd hit him again and I would do that for like 15 hours straight the same one

because I wanted to know that when I got to the next level I would crush it right because I'm messed up right like that it's messed up it's not good it's probably not healthy right it's probably not mentally healthy but like that's how I am and the people that I see like who absolutely murder it are like that they have that thing that's

broken inside of them right and so like if you have a minimal effective dose type person that's your personality that's fine it's fine, it's okay. You know what I mean? Like, it's, that's you. Right? But if you, if you think to yourself, like, all of these things that I have, I'm willing to sacrifice X, Y, and Z to achieve W, right?

To achieve the win, to achieve whatever my goal is. If you have that, then change. But just know what you're trading off, right? I know what my tradeoffs are. And I've measured them, and I'm more than comfortable to do that. And if anything, I try and find more things that I can throw into the fire that I can trade off. And that's why I don't cook my food. I don't clean my stuff.

I don't make my bed. I don't do my laundry. I don't do my grocery shopping. I don't buy my stuff on Amazon. I don't write thank you cards. Every single thing that you can possibly think of, I have outsourced so that I can get more time back. Because I sacrifice everything for this community so that we can grow so that we can change what I believe is valuable to me. right and I get a tremendous amount of satisfaction from knowing that there are lots of people who don't want to do that and that I can empower them to live their minimum effective dose life that they can have their lifestyle like that I know that there are fitness professionals right now who weren't going to be able to have time with their kids that they can now do that because of the work that we are putting in that makes me sleep well at night I don't need it I don't want it I don't care for it but I know that thousands of people do

do and that's what gives me solace like i'm good with that like i'm cool with that trade i die tomorrow i'm good like i'm good with this right and so like that's the trade off that's the game understand the things that you have and figure out which ones you want more and then if you're not living in accordance with that change and if you are then accept it and be cool with it and stop being yourself up about it because it's all right you're trading off growth so that you can spend time with your kids that's fine you know what i mean like don't feel guilty you about it. But don't compare yourself to somebody who's going all in. Like, don't compare yourself

to me because you're not giving up what I'm giving up. And that's okay. You know what I mean? You don't have to. So, anyways, guys, I hope you have an amazing day. Hope this, like, for anybody who is, like, feeling guilty about, like, why isn't things happening faster? Like, why don't, like, X, Y, Z? Like, I hope this

just gives, like, right, some clarity to why that is. It's just, you probably have things that you find important that other people don't, right? And, like, you might not want to sacrifice those things and that's totally okay you know so anyways i hope you found this valuable if you did you know drop a like drop a comment i'd super appreciate it and um if you have questions this is a really interesting one so drop it in and um i hope that we can help other people who want to be free and

want to have those other things and not trade off for their business i hope that you know what we do at jim what would you help me do so be easy get you soon uh-huh