The Game with Alex Hormozi - When Money Stops Mattering FIXED | Ep 306

Episode Date: June 8, 2021

Does money = happiness? Today, Alex (@AlexHormozi) is joined by guests to talk a little bit about the philosophical side of happiness and money, decision-making processes, and defining values.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:(0:42) - Money and happiness: wanting less, innate or learned?(2:28) - Redefining "happiness" and choosing how to experience circumstances.(5:50) - Aligning with identity and shifting decision-making process.(6:56) - Defining values and living by them.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Mr. Pittman, question that leans on philosophical meaning of life side. What's sure, let's rock in. 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. Welcome to the call today. I want to open the floor up to ask you guys, because I'm sure, because it's been 30 days since last time we spoke. So if you guys have questions in the chat, burning things,

decisions that are impending, things you are unsure about, strategies that you need to validate, or even just a verbal high five, please put it in the chat. I'll go on from top to bottom, and then we'll rock and roll from there. Mr. Pittman, question that leans on philosophical meaning of life side. Sure, let's rock in.

Let's do it. So in your podcast, you talk a lot about the, like how happiness is like the equation of like wants versus needs and like I had a million cash in the bank but I was living off of 30 grand or something like that and so were you have you always just been predisposed to wanting less or is that like a skill that you learn because most people are like yeah I want to make millions and millions of dollars so that I can get more at least that's kind of like where I was the direction I was going until I like started listening to you

and now I'm thinking like I'm like um you know and so I'm I'm just curious to know, like, if that was just, like, a natural, like, predisposition that you had or if you, like, got to a certain point to where you're like, okay, now that I've experienced more, I want less, like, how did that all kind of play out? Because I think it would help me become more happy. Man, that's a loaded question. It has probably been, what that question has been the primary thing that's occupied my mind space in the last 18 months. And so for context, I don't talk as much probably about what we do, but like between all of the companies that we own, we're doing just under $2 million a week. Like I don't need to take these calls, right? I do these things because like they're the few things that I drive Troy from.

Like I love, you know, like I like hearing Peter's updates. I like hearing Patrick knowing that he's moving, you know, forward the chiropractor business. And Jason's finally getting his fucking lead gen set up. And Mack, you're doing your own dance thing, which is sick. you know what I mean? And Michael, I remember your first sale, like that that is where I find meaning. And so I think first off, if you redefine the term from happiness, which is based on outside circumstances, you are happy as a reaction. Joy comes from within, which means that I can be sad and sorrowful and filled with joy. You can mourn and be joyful because joyful is how you choose

to experience the circumstances. So first, I would redefine the word that you're shooting for, right? the second thing is is asking like but why right and so a lot of us want to make money because we're like I want to you know and and then and then when we talk publicly it's like I want to leave a legacy I want to leave an impact blah blah blah blah blah right all that stuff I want to help people but the reality is that everything that you do that is external achievement is ephemeral and what it means is it literally only exists on the physical plane and that physical plane is temporary which means it will end, which means that all of the achievements and all the things that you're doing on this plane, literally by definition will have no lasting impact.

Real quick, guys, you guys already know that I don't run any ads on this and I don't sell anything. And so the only ask that I can ever have of you guys is that you help me spread the words so we can out more entrepreneurs, make more money, feed their families, make better products, and have better experiences for their employees and customers. And the only way we do that is if you can rate and review and share this podcast. So the single thing that I ask to do is you can just leave review, but take you 10 seconds or one type of the thumb, it would mean the absolute world to me. And more importantly, it may change the world or someone else. And so if it means that nothing that you do, all the things that you accomplish, and all the things, or rather the wealth

that you accumulate will eventually disappear, it changes the perspective somewhat. And so the way that I like to think about it is the analogy of a casino. And so I think all of us are given a token when we're, you know, when we come of age and start to get into the game and we sit down at a table. And we play and we play and we play and we play. And the players around the table are bragging about how big their chips are. Some players win, some players lose and more chips get stacked, right? But the difference between that casino and the casino of life is that at the end of the day, you leave the table with your chips still on it and you don't cash out.

And then everyone takes the chips that you had there. So you're playing a fake game with fake money. And so I think when you realize that like you can buy a castle or you can buy a house and there's a person in India who has no shoes who has more joy in their life. You realize that none of the things that we do to accomplish serve any real meaning whatsoever. They really just act as the shovel that we use to dig the holes that we're going to fill back up at the end of the day when we die. And so it's like, what shovel do you want to use to dig your hole?

And so I like to think of those things as what things do I inherently find joy in? And so for me, I enjoy learning and I learn through teaching. And so that is how I derive meaning. And the only thing that I can dedicate my life to that is eternal are things that will last past the physical plane, which are values. And so if you can shift your decision-making process from outcome-based decision-making process to value-based decision-making process, you'll always feel in alignment with your identity. And so for me, when I experience alignment between what I truly believe, what I say, and what I do, I feel like I'm acting in the way that I, that is in alignment with who I am.

And so I think that a lot of us have made decisions or say things that are contrary to what we believe, where we do things that are contrary to what we say, we do things contrary to what we think, and we experience dissonance, and that's most of our lives. And so I think that if you can free yourself into thinking, I can, I believe these things to be true.

I say them with certainty, and my life is a reflection of those things, which I believe to be meaningful. And I can dedicate my life to that eternal value, and that value will exist after I die. And so that for me is, is kind of where I direct. mean from work.

That was helpful. Yeah, that was real big. How have you defined your values, though? You know, like, did you, like, sit on a stone and say, like, I value integrity and courage and, like, what does that look like, and how does that play? I mean, obviously, if you do business, you're doing it with integrity and courage or whatever your values are, but, like, how do you know. You may not be.

You may not be, if you think about it. there's a lot of times where we sacrifice, we cut a small corner, right? And so where we cut the small corners a lot of times it's not anything that anyone else would notice. It's just that we know it. Like you make the email campaign and you just know you didn't do your best. You just wanted to get it done. Right?

You made the ad and you didn't really go through the process that you know you should be going through it. Right? You made the VSL and you just tried to knock it out because it was on your to-do list rather than thinking like, I'm going to make this truly excellent. And so every time you do that, you live outside of the values that you have for yourself. And so I think that like you feel like you live in alignment when what you say to others about what you believe is actually what you do.

And so yes, sure, we all believe in being honest. Sure, we all believe in trying hard. Sure, we all believe in doing your best. But no one fucking does. Man, I work everyone. I was like, go to fucking China where they work six days a week, 12 hours a day, and that is their 40-hour work week. And tell me how hard you work.

I work the weekend. You're so hardcore. Right. And then why is working even considered something that's laudable, right? Laudable. Like, why is that even anything? Because, like, we're supposed to be doing things that we enjoy that we derive meaning from. So why should we be lauded for doing things that we find joy, like, that we derive joy from?

Just interesting thought. but anyways Michael that's um that's my that's my two cents