The Game with Alex Hormozi - Why Coaches Get So Much HATE | Ep 225

Episode Date: August 4, 2020

Would you rather learn from somebody who has already done it, or figure it out yourself? Today, Alex (@AlexHormozi) talks about why an industry that can 4x a person's success, is often hated on, and a few takeaways that directly apply to your business.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:(0:59) - Analysis of coaches and mentors: they boost success by 4x.(3:06) - Favor perception correlates favor importance with time.(5:05) - Coaching takeaways: coach anything, favors build goodwill and knowledge.(8:05) - Testimonials from those you help are valuable statements.(9:01) - Be thankful and respectful to mentors and coaches.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

people who had mentors and coaches experienced four times greater success than the exact same person doing it on their own. 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, happy Tuesday. I hope you guys are rocking and rolling and having an amazing start to your week. I wanted to talk about coaching. It is something that is highly debated, oddly, and you see internet gurus, you see coaches all over the place, right? And the reason I wanted to talk about this is I think it's a super important topic for a variety of reasons. One is why, you know, why is it important? But secondly, why do coaches get so much hate? And so I wanted to tell you what the

data says, what the science says. And so I was having a conversation with Dr. Cashy, who some of you guys know is a very close friend of mine. And he was saying that he had just seen a paper that was a mega meta-analysis of the impact of coaching and mentorship on success, right, on how people are doing, right? And they found over 40,000 research studies. And when they consolidated all of the information and they controlled for income. you know, IQ and all of the different things that could, that could make one person do better than

another, people who had mentors and coaches experienced four times greater success than the exact same person doing it on their own. All right. And to me, that seems like the most no-brainer reason. I mean, why would you, I mean, who wouldn't want to have four times greater success or four times faster results by having that, right? And the thing is, is, is, despite knowing that, despite knowing that every professional athlete and every Olympian and every major team has coaches, for some reason, the general population or people at large still have so much hate for them. And you can, if you've ever had any kind of coach, you can probably think back and think like, yes, I was coaching with this person. And then many, many times,

people have a negative impression of that person who they worked with. All right. And so I like to dive into these types of things because if I see like huge generalities, you know, sweeping across the board and I'm by no means immune to this. I have tons of people that I've helped, you know, go from broke to a million dollar plus gym that now avidly speak against me. And I just like to think, like, what caused this, right? And so I was reading, I think it's 50 scientific ways, which is a phenomenal book, by the way, 50 scientific ways to persuade people or to get the yes. I can't remember something like that. It's one of Robert Kaldini, who is the author of influence and persuasion for both two of the best books on influence and marketing and sales

that exist. So he's a co-author of this book in one of the chapters highlighted something that I thought was like a huge eye-opener for me. And it was that when doing a favor for someone, all right, and I'll show you how this relates to coaching. When doing a favor for someone, the perception of the favor and how important and how big it was actually correlates with time. And so immediately after you do a favor for someone, the person who received the favor thinks super highly of you because they were just in pain and they're immediately relieved from the pain that they were in.

And then at that moment is when they believe what you did for them to be of the highest importance, of the highest impact on their life. Then over time, it just continues to decline. Right? Over time, over time it continues to go down of what their perception of what your favor was. was and what it did for your their lives now where this is gets interesting is that the perception of the favored doer of you right if you did the favor you believe that the amount of effort and the amount of impact it had on the person's life goes up over time and so immediately after you you do something for someone is the moment where you feel like it was it was nothing it wasn't a big

deal i just you know i just did this and this but the person who received it was like oh my god This was like I was stuck in this for two years and it was horrible and as soon as you came in everything changed right But if you revisit that same story six months later The person who got the favor is like I mean I would have figured it out anyways You know I'm a pretty pretty smart guy I really wanted to do it I would if it wasn't that guy was someone else I was gonna figure it out right it wasn't that big of the deal and then the person who did the favor is like Oh my god I saved this guy's life and he doesn't even blah blah blah blah blah right whatever but the person But the point is, is that this is a psychological bias.

And it's just real. It's just in people. And so in recognizing that, it can give you a little bit for me of solace because I'm just like, okay, you know, what's going on here? But it's just, it's a scientifically proven psychological bias that exists in all humans. And so I think that there's a couple of takeaways that I've taken from this and that you can too. is that one, if you're doing any kind of coaching, right, it could be fitness coaching, it could be, you know, it could be you're being a doctor. And I'm using coaching in a broad term.

It could be mentorship. It could be, you know what I mean? It doesn't have to be, it doesn't have to be business related. It can be anything, right? Is that if you, so this is purely just me giving you the tactics by this, if you do someone a favor, the time to ask for a favor and return is immediately, immediately after you've done the favor because at that point is where they will believe what you did for them was of the most importance right now you can also get into probably secondary effects of this which is well if you can

continue to do favors over time right then you continue to have those those windows of of goodwill right and i think of it like a telephone telephone wire so if you guys under old school i don't even know of course this thing something telephone or power lines where you know there's a pull and then it dips down and then there's another pole and then it dip down and then it's another pole and just think of each of those poles as the goodwill or the or the things that you do to help people out but if you don't do that then it just continues to go down and it touches the ground and then it you know the wire blows up because whatever right hey guys real quick if you're new to the podcast i have a book on amazon it's called one hundred million dollar offers that over eight thousand 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 a thousand hours is 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 to 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 I just find this really interesting because the favors, I think, also act a lot like information, right? And if you sell information like I do, right? I sell business model. I sell sales trainings. I sell, you know what I mean? how to generate customers, all that kind of stuff, right?

Is that information, although incredibly valuable, upon consumption, immediately decreases in value and perceived value to the person to consume it. And so information is one of those interesting things that is incredibly value, but declines in value very rapidly. All right. And so this is why if you are teaching people things, you need to consistently teach new things on a regular basis so that they can continue.

have those telephone poles of over and over again you breaking a belief or teaching a new thing or whatever it is so that they can continue to grow. And I do think that over time there's some level of goodwill that gets built. But still, most people are function on the what have you done for me lately, right? And I just, you can be resentful of that and you can be the favor doer who's like, I changed this guy's life. Or you can just deal with the reality is that people don't care, right? They'll just think about what you did for them lately. And so I just see this as incredible like as as as statements of truth and so then you can just act in accordance with that it's like so if you if you want you know you help someone lose 25 pounds working with you then get the

testimonial at that time right at that moment right don't wait and then ask for it six months later because at this point they're going to be like well I was going to join another gym you know I was going to probably do something either way and it was really me who was doing all the dieting I mean yeah you know he helped right whereas if you done it right after they get off the scale and you tell to come right in and you do a great video they'll have all the emotions they'll just have gotten out of pain they'll have achieved their their thing and the thing is is they'll probably far more accurately depict how much of a change you really did in their lives right and so i think this has far-reaching implications for a the psychology of the coach but also be the psychology of the coach e right

and i think that i've experienced this myself with different coaches that i've had throughout my life, recognizing myself internally is like, you know, I look back on what they did and I think those same thoughts, which is like, I would have done it anyway. I'm a winner, winner's win, and I was going to happen. Now, whether or not that's true, it doesn't really matter. The point is that they were still the one who helped me out, right? And so, you know, giving respect to those people, I think has been something that in the beginning of my career, I don't think I did as much as I do now. And I think it's partially just, you know, maybe it's age, maybe it's experience, It's maybe it's scar tissue, you know, whatever it is.

But I have, I think I have probably in the last year or two, been much better about giving massive amounts of respect to the people who helped me out earlier on in my life. And let me give you a different framing as well if you're the person who received the favorite. So I kind of talked about this from the coaching perspective, but talk about it from the student perspective is that like in my book, which was released two years ago, a year and a half ago, whatever it is. I have acknowledgments in the back and I have all people who influenced me on

that page good and bad because I still learn tremendous amounts from some of the people who are what I would consider maybe negative mentors right I learned I learned what not to do a lot of times and still some of those people still broke beliefs of mine even if they weren't intending to right and so I think Tony Robbins talks about this where he says you know blame them you can't just blame your mom or your dad, right, for the insecurities they gave you. Also blame them for your resilience. Blame them for your ability to persevere. Blame them for all the positive characteristics that you developed as a result or in reaction to some of the negative things that they did. Right. And so I think that if you can adopt that perspective, it's one, way mentally

healthier for you. Two, you won't burn bridges with people who probably did help you at some point. And then three, if you are the coach, if you recognize that this is going to be a cognitive bias, this is going to be a psychological bias that's the need in all humans, then you can adjust the way that you fulfill your business or you fulfill your coaching, which is one, if you want to get someone to recognize what you did for them, you want to have that done immediately or as soon after they achieve their result, right? And then secondarily, you want to continue to post up those telephone polls week after week, month after month so that you don't have to have that information. decline over time. And the only way to do that is work, right, is it requires effort. Like we have to continue to innovate. We have to continue to make things easier. We have to continue to strive to solve the next problem because the good news for everyone is that every single student you ever have, as soon as you solve a problem, a new problem will be created from the gap that you just, that you just bridged, right? They will just go across the bridge to the next

plateau where there's another gap where they need another bridge built. And so as long as you've been far ahead enough of the people that you are teaching, coaching, mentoring student team, right? You will be able to continue to build bridge after bridge after bridge for those people and it will force you to grow as a as a coach, as an entrepreneur, as a business owner, as whatever, right? Because you will force to level yourself up so that you can continue to provide value because the value that you provided has an expiration date.

So I hope you found that valuable. Hopefully that that's interesting for me. I think it was really, once I kind of connected all those pieces together. It made a lot of sense in my own life for me as a student, but also for what I've experienced as a coach or mentor or I hate the word mentor, but whatever. As somebody who developed business models and helps other people make more profitable businesses. It's been something that's been very valuable for me and honestly just very calming to my spirit.

And so anyways, I hope that makes sense to you. I hope you found that valuable. And if you did tag a coach, tag one of your coaches, take some of your trainers, tag some of your friends, family, dogs, pet, higher power, whatever it is. Otherwise, have an amazing day.

I hope you guys have a crushing Tuesday and I'll talk to you guys on the flip side. Bye.