The Game w/ Alex Hormozi
Accepting the Truth: The Reality of Success (with Andy Frisella) Pt.3 - Mar. ‘23 | Ep 564
Sat Jul 15 2023Description
The episode covers various aspects of succeeding in business, disassociating work from identity, developing skills, learning from practical experience, taking personal responsibility, overcoming challenges, inspiring others, and redefining success. It emphasizes the importance of perseverance, continuous improvement, and creating a positive message. The speaker shares insights on gaining leverage, attracting top talent, and increasing one's worth. Practical tips include taking initiative, admitting skill level truthfully, and avoiding information overload without implementation. The episode concludes with the idea of enjoying the process and having perspective.
Insights
Success Requires Perseverance and Learning
To succeed in business, one must be so good that others can't ignore them. Gaining leverage over others allows for more freedom. Entrepreneurship is a fast feedback loop for personal development. Paying customers provide honest feedback and insights. The market quickly reveals if an idea or product is good or not. Business is about developing, adjusting, and repeatedly putting out products. Success requires perseverance and learning from failures.
Disassociating Work from Identity
Disassociating work from identity helps create a buffer between failure and personal feelings. Pretending to work for someone else makes it easier to receive feedback and make hard decisions. Tolerance for mediocrity should be low to attract the best talent. Key personnel changes can significantly impact a business's success or failure. Becoming a leader who attracts top talent requires high expectations and performance standards. Employees should focus on developing skills and offering value to negotiate better compensation.
Skills, Learning, and Progression
Drive so much value that you can extort your boss for higher pay. Learn the skills of higher-paid employees to prove their value and increase worth. Progress in a career requires more than just showing up and being loyal. Parents often instill the wrong values, hindering success. Surrounding oneself with people who teach valuable skills is important. Take advantage of free resources like YouTube to learn practical skills. Avoid wasting time on irrelevant content and focus on learning useful skills. Admitting the truth about skill level is crucial for personal growth and success.
Practical Experience and Learning
Reading books without practical experience lacks context and effectiveness. One-on-one tutoring is highly valuable for learning new skills. The speaker learned national retargeting for Facebook ads through one-on-one tutoring, which led to significant success. Gaining practical experience is more valuable than consuming information through books or videos. Most skills take around 20 hours to become proficient, with mastery requiring additional time. Fear of looking stupid holds people back from learning new things. Taking initiative and doing the job you want increases chances of promotion or recognition.
Success and Personal Responsibility
Smart individuals prioritize long-term goodwill over short-term pay bumps. Being recognized as a winner and gaining leverage is crucial for moving up. Deserving better requires taking actions that produce desired results. Blaming circumstances or feeling entitled leads to disappointment and frustration. Success comes from acknowledging personal responsibility and creating better outcomes. Spreading helpful resources benefits entrepreneurs and communities.
Overcoming Challenges and Taking Action
Overcoming adversity is possible, as many others have done the same or worse. Disadvantages can become advantages in one's own story. Being a guide for others facing similar challenges is noble. Victimhood lacks nobility and prevents personal growth and success. Sharing the same sad story repeatedly on social media can be off-putting. Moving forward and inspiring others is important after acknowledging past trauma.
Creating a Positive Message and Redefining Success
Reflecting on one's journey and not staying in a bad spot is crucial. Success inspires others to believe they can achieve their goals too. Impacting future generations with a positive message is important. Making the most of opportunities and avoiding entitlement is key. Success is an infinite game, staying in the game and enjoying the process is more important than achieving a specific outcome.
Enjoying the Process and Having Perspective
Redefining the games we play makes them worth the effort and guarantees victory. Having perspective helps enjoy the process of achieving goals. The good old days are always happening, even if they don't feel like it at the time. Appreciating the 'lasts' in life makes them sweeter. Imagining ourselves as our future older selves brings gratitude to the present moment.
Chapters
- Succeeding in Business
- Disassociating Work and Identity
- Skills, Learning, and Progression
- Practical Experience and Learning
- Success and Personal Responsibility
- Overcoming Challenges and Taking Action
- Moving Forward and Inspiring Others
- Creating a Positive Message and Redefining Success
- Enjoying the Process and Having Perspective
Succeeding in Business
00:00 - 06:01
- To succeed in business, you must be so good that others can't ignore you.
- Gaining leverage over others allows you to do whatever you want.
- Entrepreneurship is a fast feedback loop for personal development.
- Paying customers provide honest feedback and insights.
- The market will quickly reveal if your idea or product is good or not.
- Business is about developing, adjusting, and putting out products repeatedly.
- Success in business requires perseverance and learning from failures.
- Your identity should be separate from the success or failure of your business.
- Developing a skill set and being open to critical feedback is crucial for improvement.
- Thinking of your business as different departments can help disassociate from failures.
Disassociating Work and Identity
05:37 - 11:36
- Disassociating the work from the identity helps create a buffer between failure and personal feelings.
- Pretending to work for someone else can make it easier to receive feedback and make hard decisions.
- Tolerance for mediocrity should be low because the best talent may still come in the future.
- Key personnel changes can have a significant impact on a business's success or failure.
- Becoming a leader who attracts top talent requires high expectations and standards of performance.
- Employees should focus on developing skills and offering value to increase their worth and negotiate better compensation.
Skills, Learning, and Progression
11:06 - 17:33
- Drive so much value that you can extort your boss for higher pay.
- If you think you're underpaid, learn the skills of a higher-paid employee and prove their value.
- Don't expect to progress in your career by simply showing up and being loyal.
- Parents often instill the wrong values because they don't understand how success works.
- Surround yourself with people who can teach you valuable skills.
- Take advantage of free resources like YouTube to learn practical skills.
- Many young people waste time on irrelevant content instead of learning useful skills.
- Admitting the truth about your skill level is crucial for personal growth and success.
- Jumping from one thing to another prevents skill development.
- To get paid well, you need to have a high level of skill and be undeniable in your abilities.
- Information overload is not the problem; lack of implementation is.
- Consuming self-help books without taking action leads to no real change or progress.
Practical Experience and Learning
17:12 - 22:46
- Reading books without practical experience lacks context and is less effective for learning.
- One-on-one tutoring can be highly valuable for learning new skills.
- The speaker learned national retargeting for Facebook ads through one-on-one tutoring, which cost him six grand but made him millions.
- Doing the thing and gaining practical experience is more valuable than consuming information through books or videos.
- Learning most skills takes around 20 hours to become proficient, with mastery requiring additional time.
- Fear of feeling or looking stupid often holds people back from taking action and learning new things.
- Knowing that it only takes around 20 hours to learn something can make the learning process less daunting.
- Taking initiative and doing the job you want before being officially assigned to it increases your chances of getting promoted or recognized as a valuable employee.
Success and Personal Responsibility
22:24 - 28:56
- Smart individuals prioritize long-term goodwill over short-term pay bumps.
- Being recognized as a winner and gaining leverage is crucial for moving up.
- Deserving better is not a given; it requires taking actions that produce desired results.
- Blaming circumstances or feeling entitled leads to disappointment and frustration.
- Success comes from acknowledging personal responsibility and creating better outcomes.
- Spreading the word about helpful resources can benefit entrepreneurs and their communities.
Overcoming Challenges and Taking Action
28:27 - 34:40
- The speaker didn't expect anyone to do anything for them and didn't expect to be rich after a year.
- Despite not getting paid, the speaker continued for another year and then another, accumulating three years of experience before finally getting paid.
- The speaker emphasizes that success is not about deserving or earning, but about the skills and effort put in.
- Eliminating the idea of deserving creates more gratitude for success.
- Blaming others for one's circumstances gives them power over one's life; taking responsibility empowers oneself.
- Acknowledging unfairness or inequality is important, but it's crucial to move forward and take action instead of dwelling on the past.
- The speaker shares a personal example of overcoming challenges and not letting setbacks define their future actions.
Moving Forward and Inspiring Others
34:14 - 40:36
- Facing adversity and overcoming it is possible, as many others have done the same or worse
- Disadvantages can become advantages in your own story
- Being a guide for others who are facing similar challenges is noble
- There is no nobility in victimhood, but rather attention and fake comments
- Sharing the same sad story repeatedly on social media can be off-putting to others
- Choosing to stay a victim prevents personal growth and success
- Telling a story of past trauma can be justified, but it's important to move forward and inspire others
Creating a Positive Message and Redefining Success
40:22 - 46:38
- The speaker reflects on his own journey and the importance of not staying in a bad spot.
- Success is the only revenge and it inspires others to believe they can achieve their goals too.
- The speaker emphasizes the impact our lives have on future generations and the need to create a positive message.
- He encourages listeners to make the most of their opportunities and avoid ruining them by feeling entitled.
- The conversation shifts to discussing success as an infinite game rather than a finite one.
- The speaker redefines success as staying in the game and enjoying the process, rather than achieving a specific outcome.
Enjoying the Process and Having Perspective
46:14 - 51:14
- Redefining the games we play makes them worth the effort and guarantees victory.
- Having perspective can help us enjoy the process of achieving our goals.
- The good old days are always happening, even if they don't feel like it at the time.
- Appreciating the 'lasts' in life can make them sweeter.
- Imagining ourselves as our future older selves can bring gratitude to the present moment.