Throwback: 13 Things I Wish I Learned Earlier | Ep 617

Wanna scale your business? Click here. 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 and will learn on his path from $100M to $1B in net worth. Follow Alex Hormozi’s Socials: LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Alex Hormozi?

  In today's episode, it's a throwback, but I'm talking about 13 lessons that I wish I had learned earlier. This is definitely more from a business owner perspective, but just some hard learned stuff that people seem to have really liked a lot. So enjoy. 13 lessons I learned after graduating college from the real world that I wish I had learned earlier. The first is that you make better decisions and you learn more by assuming that you're dumber than everyone else. And the reason this was something that took me a long time to learn is that when I was in college, it was all about showing how smart you were. It was about talking more in the group meetings. It was about raising your hand more in the classroom and proving how smart you were in every way that you possibly could.

• 0:42Alex Hormozi?

  And so I took that and started translating in the real world and I realized that I didn't learn very much because I was the one talking all the time. And it only took a few times of me getting introduced to somebody because I wish I could just tell you it was once, but it wasn't. Or I get introduced to someone, someone would introduce us and I would basically spend the whole time blabbering on about how great I was and how much I knew, only to find out later that this person was way above me in business and whatever things that I was pursuing at the time. And then I felt tons of shame and embarrassment about how stupid I was for doing that. And so I had to shift the way that I talked to new people and the way that I entered rooms. And I'll be real, I still talk probably too much, but at least being aware of that lesson as early as it could.

• 1:27Alex Hormozi?

  I wish I had learned it earlier, but fundamentally you can't learn if you're talking. Obvious this is. And so if you're trying to learn, then not talking is the first requisite for doing that. And if you want to make better decisions, then you need to learn. And so if you talk less and listen more, which is why this is somewhat of a platitude. It's easy to understand and hard to do. And tactically, when you're in situations, when you're meeting new people, this was a big epiphany I had, was that I got introduced once to somebody and I was walking peripherally after I had left and somebody else went up to them and was like, do you know who that guy is? And in that moment, I realized that my positioning was now sky high because I didn't have to be the one to say it.

• 2:12Alex Hormozi?

  And so the idea that I realized was how can I get other people to edify me? Because what I had to allow people to do was to make the same mistake that I used to make, which is that someone young, someone inexperienced, someone less aware, whatever, would come up and then start posturing themselves and blathering on about everything that they're doing. And me, I might be way ahead of them, but I would listen and see if there's anything interesting. And so on that conversation, I learned more than they did. I learned what type of person they are. I learned where they're at with their career. And if they had anything interesting, that would be worth, you know, following up with. They learned nothing. They felt good about themselves. And then later would feel bad about themselves when that other person went over and told them. And so I was like, of these two scenarios, which would I rather do?

• 2:57Alex Hormozi?

  Would I rather have someone have a conversation with me and then not know who I was? And then never know who I was, but be able to learn? Because that's the, that's the worst case scenario, right? Or would I rather blather on, learn nothing? And either, either I am above them and then they're like, well, fuck that guy, he brags. Or I'm below them and I'm the moron. So those are the only two alternatives in the scenario where you blather on about yourself and try and position, try and sound smart. So I stopped doing that because the scenarios of me not saying as much and listening more, I got, I learned more. And if the person found out who I was later, I was positioned. And if they never did, I still just learned. So those are the upsides and downsides versus both.

• 3:42Alex Hormozi?

  And that shifted my behavior. So that was lesson number one. Lesson number two was that the hardest respect to earn is one's own. And so what I realized, and this was something that was really hard for me, is that I had a pretty bad reputation in the very beginning of my college career and all of my high school career. And it was because I drank too much, I was irresponsible, I slept around a lot. And it just ultimately, I wasn't representing the type of person that I wanted to be. And so I felt ashamed of the behaviors that I did, but I didn't change them, right? And so it was only through a conversation I had with my father where I said, how do I change my reputation? How do I get these people to stop saying this stuff? And I thought there was some like PR marketing angle that I could take, that I could control the narrative. And he said, why don't you stop being a piece of shit? And he said that in his own, you know, in his own words.

• 4:27Alex Hormozi?

  And I was like, that can't be it. I'll figure out a way. But only, you know, as when parents talk to kids, they're listening, but they're not listening. That really stuck with me and I started thinking about it. And so I said, like, well, if I wanted to be somebody who was respectable, what would I do? And so then I tried to start acting in that way to be someone whose respect my own I would earn. And so when I started doing that, nothing changed externally. People still treated me like I was a piece of shit and they were probably right. But my behavior began to change and then slowly so did my reputation. But it started with me trying to respect myself first and then others began to respect me as a result. And so that was a huge shift that happened for me that I wish I had learned earlier. If you want to control people, think, control what they say.

• 5:10Alex Hormozi?

  This is the third lesson I learned, and this is more of a business slash marketing lesson. But if you want to talk about products and services, you have to equip people with the words to describe what you have. Because otherwise you're asking them to solve the problem of how to describe your business. And if right now you can't even figure out how you're going to describe your business and you own the darn thing, how do you expect them to do it in a half second when they're telling their friend? And so this is really about giving, equipping people with simple language so they can communicate what you do. So for example, at acquisition.com, like this happens all the time still. So I just want to be really real with you. The mission when I started the business was to document and share the best practices building world-class companies. I have now realized that most people don't know what that means. And so I have now, and you probably will shift the language to, to make real business education available to everyone.

• 5:53Alex Hormozi?

  They functionally mean the same thing, but giving people the words to describe it in a way that they understand allows me to give them words that they can explain to somebody else. It's like, what's out, you know, what's that guy Alex Rosy do or what's, what's acquisition.com? It's like, oh, they're just trying to make real business education for everybody. Like it's easy to remember, but document and share the best practice of building a world-class company. It's too hard. Like what's best practices? What's documenting? Like there's all these things that people don't conceptualize. It sounds like soundbites in words, but people can't describe. And so when I stopped trying to sound smart and tried to get my prospects to feel smart is when things changed. And I've seen that that pattern happen over and over and over again, which when I came out of college, all I did was want to sound smart rather than have my prospects and the people I was listening to feel smart.

• 6:33Alex Hormozi?

  Number four, you get more out of reading one book that's great five times than out of reading five mediocre books. And so I don't read many books. And what I mean by that is I buy lots of books. I skim most of them and quickly realize that it's not worth reading. And so then I toss them aside because just because someone wrote a book doesn't mean you need to finish it. It has nothing to do with you. It means that they didn't organize it well. So there you go. But every once in a while, you do get a book. And I have found that books that are older in general tend to be better because the reason the person wrote it was a different intention. They wrote it because they wanted to transmit knowledge to the next generation, whereas the people who write books now are either writing for money, writing for notoriety, or writing them to sell other shit. Right? And that's the vast majority of books. So if you find books where the author is actually writing because they want to convey

• 7:17Alex Hormozi?

  knowledge to the next generation, those tend to be better books in my experience because the intent is to actually teach, not to persuade. No slight difference. So when you do find those gems, I have realized that if I read something once, end to end, I still don't know it yet. And so I will read a book two times, three times, four times, five times, until I can teach the book, when I feel like it is worth learning. And then once I have like squeezed the book for everything that it has to the point where I can convey the message to somebody else, like I can teach the concepts of the book, which is something that I've done many times, where I'll actually make a presentation on the book so that I can wrap my own frameworks around how I can remember it. That's where a lot of these frameworks come from is because it's me trying to make sense of the world in a way that I can remember.

• 7:59Alex Hormozi?

  Because otherwise, I read stuff and then I would just discard them and it's it's just like a waste of time. Where if you if your behavior doesn't change as a result of reading a book, then it means you've learned nothing, which means it was a waste of time. And many people who read books are just wasting their time because their behavior doesn't change. And so I consolidate, once I find something that's good, I plug everything I possibly can into it and suck the juice out of it so that I can change my behavior as a result, which comes from the frameworks and how I think about it. So I read one thing that's very good many times, rather than trying to brag about the fact that I read a book a week. Because I'm like, well, was the book last week not that good that it wasn't worth rereading? Right? That's how my thinking had changed. When I was younger, it was all about like, how many books can you read? It was like a contest. It's like a pissing contest. Instead, it's like, how deeply do you understand the knowledge of the book? Because if you just did how to make friends and influence people and you put it into

• 8:44Alex Hormozi?

  your DNA, you would be successful. Right? There's many, there's a handful of books that if you just did them for the rest of your life, you would win. And so rather than read another book that's on the airport bookshelf that was just well marketed, that's a crap product from a ghostwriter, instead of that, you can just read the few other times classics written by the author to convey a message to the next generation. Number five is that most champions do not have something that you do not. They lack something that you have. And so it's a different thought process. Because if all of us have the exact same hours per day, it means that they're allocating their time differently. And many times, they eliminate things that you are still doing. They have sacrificed more. They have given up things that you have continued to have on your tree as branches that are distracting from growing up. Right?

• 9:27Alex Hormozi?

  And so many times, champions, when I look at the people who are further ahead of me, they're even more ruthless with their time. They even have lower tolerance for friends, family, people around them that are not at the bar that they hold themselves to. And for me, going through college or, you know, when I was younger, I always thought it was about adding to your plate, saying yes to everything, saying yes to opportunities, say yes, say yes, say yes. When all I did was I just completely got distracted and spread super thin. And so what most champions have is singular focus, and they're willing to say no to everything else. And that, for me, took me too long to learn. Six is that goodwill compounds faster than money. And the reason for that is, like, if you actually think about what goodwill is, it's that you have positive sentiment

• 10:11Alex Hormozi?

  and you have a degree of influence over a person's behavior. That's what goodwill is. And so if one person has goodwill with you and then shares your stuff with somebody else and you create goodwill in that next person, you can double your goodwill or 10x your goodwill in a matter of 12 weeks. 10x-ing your money in a matter of 12 weeks is very, very unlikely. And so goodwill, because it's based on audiences and humans, can compound significantly faster than money can. And when I realized that that goodwill could be translated into money, if I so desired at a future date, then I realized, and rather than focusing on the money that I'm trying to make today, why don't I focus on the compounding vehicle that compounded at a much faster rate than money does, that compounds tax-free, by the way? Building the audience is tax-free. And then when you choose to have the conversion event,

• 10:55Alex Hormozi?

  you can do that at your own choosing. But if you focus on the audience, you focus on the goodwill, that will grow significantly faster than any kind of monetary move. But you can still translate that later into money when you want. That was a big epiphany for me. I thought it was all about the money when I was coming up. Seven is that you're going to die. And two weeks after you die, most people have forgotten about you. And six months after you die, no one will talk about you. And if they're not caring enough then, then it certainly doesn't matter what they think about your life now. Because if that's the most significant event that's going to happen in your life, which is that you stop living, then how much credibility or weight should we give to other people's opinions on what we should do with our lives? In my opinion, very little.

• 11:38Alex Hormozi?

  And so unless the person has a vested interest in seeing you succeed, comma, and the context to provide the advice, most of the times, it's just worth ignoring. Because they're trying to live their own life and they're projecting their own beliefs and experiences on you. And you spent all this time trying to improve your own view of reality through the beliefs that you've shed and shifted that they have not. And so what they believe to be true is what they're casting on to you. And if you don't like the life they have, then I don't think it's worth listening to. Eight, extraordinary accomplishments come from doing ordinary things for extraordinary periods of time. This is just me speaking about me, but when I was younger, my actions showed that I was more impatient. I always was willing to sacrifice what I had today to get the quick buck. I, you know, I was always, I was shifty like that because I just thought that that was how it worked.

• 12:23Alex Hormozi?

  I thought there was some shortcut I didn't know about. And I would see the guys on stages being like, this is what we do. We do the basics and we do a lot of it. I was like, they're just trying to hold the secrets back. And I'm here to tell you that that is not true. Like, I wish I could go and shake my college self and be like, if you do one thing for a very long period of time, you will get very good at it and it will compound onto itself. And maybe I would listen to me. If, I mean, if future self showed up in my living room now, I would totally listen to him. But, you know what I mean? And so I can't do that. So the next best thing I can do is try and shake you by the collar and say that if you, like, the thing that makes the action extraordinary is the commitment to it, not the nature of the action itself. Working out and doing reps is not extraordinary.

• 13:04Alex Hormozi?

  If you saw one set of a workout from me at the gym, you wouldn't think, oh, this guy is amazing. It's the fact that you do it for 20 straight years that is what compounds on itself. If you listen to one guy make one phone call, you listen to one major league baseball player, one at bat, nothing about that is extraordinary. It's the dedication to doing it over and over and over and over again, despite feeling like there's better opportunities, despite people approaching you with new and exciting things, but saying that you're committed to the original vision you had and that reality has not changed in such a way that you believe that your need to believe is no longer true. He said, "I believe that X, Y, and Z is true. And as long as that remains to be true, then I will continue on this path for an extraordinary period of time." And that, not the action itself, but your commitment to the action is what makes someone extraordinary, not the thing itself.

• 13:50Alex Hormozi?

  None. If it's worth doing, it's worth doing well. This is a really great, small saying that, like, I shortcutted so much stuff when I was younger. I just wanted to like, get it done, get it done, get it done, rather than doing it well. And there's kind of two ways you can take the saying, which is why I like it so much, is that if it's worth doing, it's worth doing well. Because many times, I was doing things that were not worth doing. And so, I didn't have the time to do things well because I was doing so many things that were not worth doing. And so, the first criteria is, what problem are we solving? What am I hoping to accomplish? Is this worth doing at all? Because if it is worth doing, then I have to understand that to do it, comma, right, to do it well, it's gonna take this much time.

• 14:35Alex Hormozi?

  Now, given that, is it still worth doing? And if it passes that test of A, being worth doing in the long haul, and because it is worth doing, worth doing well, then it gives us this lens through which to see the activities we do so that we can prioritize the things that will make us the most money or get us closer to the goals we have. Right? And so, for me, I spent so much of my energy, fun fact, when you're younger, you have more energy than when you're older. So whatever your energy is now, it's literally the highest it's ever gonna be from this point going forward. Kinda, kinda crazy to think about. And so, younger me had more energy than me does now. I make way more money than younger me did. And it's because I do fewer things, and I do different things than I did then. And now, if I write a book, I'll take a year on writing the book because if it's worth doing, it's worth doing well.

• 15:19Alex Hormozi?

  Because I understand that taking one year today will mean that that book might sit and sell and distribute itself to millions of people over the next 50 years, or 100 years, or after I'm dead, compared to me just putting words on a page that are pretty good, and then shipping it. And I think the vast majority of people don't get the difference between good and great. The ocean between good work and great work is vast. It's five times, 10 times the work to go from something good to something great. And I did not get that. Which is why you have to be really selective about the few things you choose to do that are worth doing, and in being worth doing, worth doing well.

• 15:57Alex Hormozi?

  Real quick, guys, if you can think about how you found this podcast, somebody probably tweeted it, told you about it, shared it on Instagram, or something like that. The only way this grows is through word of mouth. And so I don't run ads, I don't do sponsorships, I don't sell anything. My only ask is that you continue to pay it forward to whoever showed you, or however you found out about this podcast, that you do the exact same thing. So if it was a review, if it was a post, if you do that, it would mean the world to me, and you'll throw some good karma out there for another entrepreneur.

• 16:25Alex Hormozi?

  10. Be willing to negotiate everything except for your values. And so there were so many things when I was coming up that like, you know, in college, even right after college, there's jobs, like, I always just took things at face value. So prices, terms, relationships, everything, I took at face value. So whatever someone presented, I said yes or no to, right? Very straightforward. I have now realized that virtually everything is negotiable, right? Because people present with basically their best bad guess. And they're hoping that someone takes them by the hand and says, "You know, that makes no sense. What if we did it this way? What problem are you solving? What problem am I solving?" And then having the ability to clearly communicate, someone asks the right questions to get someone else's true desires and wants,

• 17:10Alex Hormozi?

  and then knowing what your own true desires and wants, and what you're willing to give up, allows you to make better deals. And so I used to think of negotiating as a zero-sum game, and it's not at all. You can find a way where both parties get better than they were before, which is the entire point, right? Like, that is how negotiating works if you're doing it well. And so I didn't understand that. I thought everything was an arm wrestle. I thought everything was like this for that, tit for tat, like, no give. And I also thought really short about it. I was like, I was trying to get one over. I was ruthless with vendors, you know what I mean? Just like, all of that kind of stuff, as like, I swung the other direction. So first, I didn't negotiate anything. And then I found out you could negotiate, and then tried to get everyone to give me their last, last penny. But then I realized that this, long-term, doesn't create good relationships, and they will not be loyal to you at all,

• 17:54Alex Hormozi?

  which, long-term, has a more negative impact than giving them the extra 10% and having an amicable relationship, right? And so I found kind of like my middle ground of, "You want to negotiate everything except for your values." Because the thing is, if you really think about it, I negotiated everything in that second example, including my values. Because I was doing business in a way that was contrary to the values that I wanted to espouse, to wanted to embody, right? And so now, in like, because the deals we do with acquisitions.com, for example, like, I could probably ask for significantly more than I do. And I've had many times where people are like, I want to give you this. And I'm like, I don't want that because I don't think you know what that means. And so this is what I think is fair today and in 10 years.

• 18:36Alex Hormozi?

  And so it's balancing both your need today, your need in 10 years, and their need today, and their need in 10 years. And you have those four points and you try and find the closest point, given your reality. And you can explain that this is how you're thinking through it with them. And I think they will appreciate all four data points on the map to come to the best solution for today and tomorrow. 11. Humility. This is a big one because I want to, I want to be a different voice on this because I have heard all over the internet recently, people saying humility is stupid. If you looked up what the word means, you wouldn't want to be it. Because if you look it up on Google, it says, thinking less of oneself. All right. This is why looking and defining terms is important. Because if you look at Merriam-Webster, for example, it's lack of pride or arrogance.

• 19:20Alex Hormozi?

  I don't think people would say, you wouldn't want that. I was like, no, I think, I think people are okay not being prideful or arrogant. I think that's okay. But even more so, and the definition that I have taken on is actually the exact opposite of that, which is it is not decreasing your regard for self, but increasing your regard for others. That's from Clayton Christensen, who is a Harvard professor, goat of a human. I thought that posturing, when I was younger, was the thing that would get people to like me. But what I realized later was that you gain status by giving more to the group than you get. And so this is especially true for guys. It's probably true for girls, but I can't speak to that. But in a group, especially an all male group, if you want to gain status, the way you do it is by sacrificing more for the group than everyone else does.

• 20:03Alex Hormozi?

  If you want to gain status in a company, you give more to the company than anyone else does, more than the company gives you back. Because what do they do? They reward that behavior. The group rewards the person who gives to the group. It's how it works. The people who take from the group and only want to get status, they only go in to get status from the group, end up getting banished by the group and battered down because everyone wants to keep that person down because they don't serve anyone else. And so it was only by realizing that I had to give my life in order to get it. I had to give status. I had to serve. Because when you serve someone, you're giving them status. You're increasing your regard for others. When I gave status, I got it back. When I gave respect first, I would get respect back rather than demanding

• 20:44Alex Hormozi?

  respect at the onset because then they wanted to disrespect me to level where I was at. Whereas if I raised them up, they would raise me up. And it was understanding that group dynamic, which is what made me president of the fraternity that I was in, it made like all of these things started compounding when I realized that truth is that humility is not thinking less of yourself. It's thinking more about other people and increasing your regard for their needs. And if you do that, I promise you, you will have all the status you want. 12. The happy man has a thousand wishes, the sad man has one. This is a little bit more of a heartfelt one for me because when I was younger, I was definitely angrier, probably darker in general.

• 21:25Alex Hormozi?

  And a lot of that came because I had expectations that were fictitious, real or otherwise, from other people in my mind that existed, who were constantly judging the behaviors and actions I was doing every day and were telling me that I was not enough. And so in some ways, that created and reinforced behaviors that I still continue to this day in terms of the actions I take, but the way that I feel and think about them has shifted. And so when you are sad, you want to not be sad. That's the main focus. You want to feel better. And many times people will take the short term way of getting out of that, which is alcohol, drugs, et cetera, because in the moment they can feel better. They just want to feel better. And I remember I had a coach who said that to me. She said, everyone just wants to feel better.

• 22:10Alex Hormozi?

  And so when I think about things that I used to think people were wronging me, right? And I'll get all angry and I'd spit myself out. I use a different frame now, which is they just wanted to feel better. Do you think it had nothing to do with me and they just wanted to feel better about themselves? And that's given me a lot of peace about many of the things that used to anger me. And so I think that at least for me, being able to quiet the hundreds of non-existent voices in my head that were constantly judging the activities that I was doing and labeling them good or bad or good enough or not good enough, et cetera, took up a tremendous amount of my attention. And because of that, all of my focus was on feeling better. And so I couldn't actually have any energy left over to do. Because all I was focused on was feeling better. And all I was spending all my day was in my head trying to not feel like shit.

• 22:55Alex Hormozi?

  Right? And doing both short and long term things to do that. And so it was only when I came up with the mantra, which I have said before, but fuck happiness. Which sounds ironic because I said the person with a thousand who's happy has a thousand wishes. But in choosing not to admit the deficiency between my current state and the future state of what I desire to be. I was able to accept where I was. And then the deficiency of not being good enough, not being happy enough. Disintegrated in my mind and then I was able to focus on just doing things. And then when I started doing things, I started making progress. When I started making progress, I started looking back and feeling proud of how far I'd come. Because it wasn't about the many voices outside, it was about the only one that mattered.

• 23:38Alex Hormozi?

  And so that shift is what I think genuinely from a spiritual standpoint is the thing that was able to give me. The strength to do some of the things we have done. I'm not saying that we've done is amazing, we'll hopefully live a long time, do epic shit. But I wouldn't have been able to ever start on this path. Because I was paralyzed for years. Because I was paralyzed about what I thought other people were going to think about me. Only to realize that they weren't thinking about me at all. Thirteen. Failure leads to learning. Learning leads to success. Success leads to complacency. Complacency leads to failure.

• 24:11Alex Hormozi?

  And so a lot of times I remember you thinking that like there was a destination. But I think the actual entrepreneurial cycle is it's I'm already giving it away. It's not a destination, it's not linear, it's cyclical. And so that's why I talk about entrepreneurship in terms of seasons. Because there are cycles where you learn a lot. Right? And I used to say this a lot where I'd say. Either the business is growing or I am. So either I have learned lessons and I am applying those lessons to the business and the business is growing. Or the business is not growing and has problems. And now I am the one receiving the lessons from the business. And until I learn the lesson that I'm supposed to learn. The business will cease to grow. Until I have learned this lesson, until I beat this boss at this level. Right? And the difference between video games and real life is that sometimes in order to beat that boss, you're not. You're not doing it in 10 minutes, it might take you 10 years.

• 24:56Alex Hormozi?

  And that's the difference between entrepreneurship and a video game. And so recognizing that you are not above the cycle, but that that cycle is inevitable because you have failure, learning, success, complacency. The goal is if you can identify that, how quickly can you get back to learning success, learning success and try and skip the complacency step altogether? It still happens to a degree. But if you can recognize that, at least for me, seeing when it's, when I can start feeling the feelings and it's rearing its head, I'm aware of it. And then it allows me to speed through it faster into the same degree. I stop labeling things as good or bad because if I'm failing, that means I'm about to go through learning. Then I see learning as good. And on the flip side, if I'm succeeding, I succeeding is good. And so either way, they lead to my success. And framing it that way took a lot of the judgment

• 25:41Alex Hormozi?

  and the label and the depression around not achievement away from me. And also, when things are good, it allowed me to not be so high on my supply because I knew that whenever things were good, everything is good is followed by something that is not as good. And so you always have regression to the mean, right? You have regression to the mean. And so if things are amazing, then it means they can only go down from here. If things are terrible, it means it can only go up. And so having that thought process, at least to recognize patterns over and over again that happened in my entrepreneurial career have given me a lot more peace about the journey overall. 14 is that I would pay any amount of money to make obvious truths real for me. And I remember when I was, when I was starting out, I, it's so funny. I went to Bally's Gym right after I graduated college

• 26:25Alex Hormozi?

  and the membership there was $29 a month. And I remember I almost spit out my gum when they told me it was $29 a month because I thought it was so expensive. It was so crazy that someone would dare ask for money. I, I expected to be able to be let, I was like, fitness is a right. Like I was such a piece of shit.

• 26:47Alex Hormozi?

  And so there is a reality that no one can see right now, true reality. And no one can see it because we are shaped by the many things that we've been told throughout our lives and many of those things were not true. And so much of the path of entrepreneurship, in my opinion, is shedding these, these false truths so that you can see the world more clearly. If you see these business people who are super far ahead and all of a sudden it's like they can lose it and then they can get it all back again and things seem so seamless for them, it's because they have a more accurate view of reality than you do. And so imagine trying to hit a target with a blindfold on. You're just gonna keep missing and keep missing and keep missing. Now imagine there's a guy next to you who's got a blindfold on too, but it's clear. And he's just nailing it. And you're like, what the hell?

• 27:31Alex Hormozi?

  I'm doing the same thing with my wrist. I've got all this technique down. It's simply because he sees the target and he sees all the environment around it more clearly than you do. And for me, the whole concept of ignorance tax and ignorance debt has been one that I have taken with me for life. And I actually heard this, a speaker said this on stage. And he was actually using it as a close for the audience. But it's like, I just, it just, it changed my life. So I'll probably add that to the other video. He said, how much is not making a million dollars a year costing you? He's like, well, if you make $50,000 a year right now, he said it costs you $950,000 a year to not know how to make a million dollars. And I thought about that and I was like, shit.

• 28:14Alex Hormozi?

  So right now, the concept of paying down the ignorance tax, paying down the debt service that we are all paying to reality, right? We are paying a debt service to a false reality in order to get the real one. And so for me, I will pay any amount of money to speed that process up, to see the world more clearly in a way that is true. And if the views that I have do not serve me and someone else is further ahead of me in the game, then they are better at the game of business than me in some way. And in that way, I can learn of them. Doesn't matter what they're doing. Some people were like, oh, this guy's unethical, this guy's. You can learn from everyone. If they're making more money than you, you can learn from them. And so taking that and taking my ego hat off, right?

• 28:57Alex Hormozi?

  Taking my ego hat off and saying like, I'm the student here. This guy's better in some way. What does he believe to be true about the world that I don't? Or what do I believe to be true that isn't? And simply trying to observe, to see those realities is something that I will always pay for. And so that's why I pay, I mean, I made a video about conversations that have changed my life. Eight of the 10 conversations that I, that I did to change my life, I paid for. Eight of the ten. So I know that there's plenty of really successful business people who just, you know, they network and they do whatever. I didn't do that. I paid for access to everything because I didn't know and I didn't know anybody who did know. And so just observing them and having them speak into my lives, and it wasn't always direct, sometimes it was indirect, just watching what someone's doing and saying they're doing

• 29:42Alex Hormozi?

  something different than me. I don't believe that what they're doing makes sense, but they're making more and more money than me, so maybe they're right and I'm wrong. And consistently trying to speed up that process because right now, I know if I went back in time, just with the views of the world that I have compared to what I had then, I could recreate what I have now in two years. And so thinking about my future self, if it could take me 30 years to learn the lesson, because I'm going to learn the lesson either way, I'm either going to pay in time or going to pay in money. I'd rather pay in money and drag my future closer to the present because then I get to get to that future and drag another future to the present and shortcut it. And so I will always pay any money for an obvious truth to be made real for me because for me, it wasn't obvious.