00:55:27 · John Coogan, Alex Hormozi
[00:55:27] S0: Sure. Sure. Sure. [00:55:28] S1: And so it's like the proof is the pudding, I think. At least my perspective on media is the proof is the pudding, but it varies in terms of how much proof you need. Now if you're ugly as shit, very hard to be a beauty influencer. [00:55:39] S0: Yeah. That is that way [00:55:40] S1: But if can use but if you are ugly and then you paint your face so well that you become hot Oh. Then you absolute yeah. Because you have evidence. Yeah. Right? And you have a more dramatic part. No. A 100%. This is how it works. [00:55:51] S0: Yeah. I like that. Talk about status seeking. [00:55:54] S1: Alright. [00:55:55] S0: It seems like in Silicon Valley, there's often you know, Naval talks about this, like, there's value [00:55:59] S1: in Silicon Valley. Yeah. Well well, that [00:56:01] S0: well, that's what I wanna know. In Silicon Valley, there's lot of trend chasing. There's a lot of status seeking, and there's value in, like, doing low status activities. And I'm wondering in mid market entrepreneurship, small businesses, like, what is the shape of that? Is it different than Silicon Valley? Is it less pronounced, more pronounced? Like, what is the version of, look, you just need to run a series of golf courses and be happy with that that type of thing or whatever whatever the equivalent is.
00:56:01 · John Coogan, Alex Hormozi, Jordi Hays
[00:56:01] S0: well, that's what I wanna know. In Silicon Valley, there's lot of trend chasing. There's a lot of status seeking, and there's value in, like, doing low status activities. And I'm wondering in mid market entrepreneurship, small businesses, like, what is the shape of that? Is it different than Silicon Valley? Is it less pronounced, more pronounced? Like, what is the version of, look, you just need to run a series of golf courses and be happy with that that type of thing or whatever whatever the equivalent is. [00:56:26] S1: I think it depends on who they compare themselves to. I think it just comes down to that. Think tech guys compare them to some other tech guys, and they want approval from tech guys, and so they do the the activities that tech guys approve of. [00:56:34] S0: Yeah. [00:56:35] S1: If you're an HVAC guy, then it's gonna be you're gonna do the activities that HVAC people Yeah. Think are cool if they're the peer group that you actually compare yourself to. Sure. Which they might not be. Yeah. And to be fair [00:56:44] S2: I love the tech guys that that sell their business for 9 figures and then are like, I need a cash flowing lifestyle business ASAP. Yeah. I know a lot of them. [00:56:53] S1: Yeah. A lot. A lot. A crazy amount. Like, buying gas stations. Like, it's a lot. [00:56:59] S0: How how bad is that? [00:57:01] S1: Bad? What do you mean?
00:57:01 · Alex Hormozi, John Coogan
[00:57:01] S1: Bad? What do you mean? [00:57:02] S0: Like, because I I imagine it's a grass is greener on the other other other side thing where they enjoyed building their business. They sold it. They have all this cash, but they want cash flow. They want the stability of the cash flow. And so they want the idea of of running a small [00:57:15] S1: Every month. [00:57:15] S0: And they don't exactly. But they don't think about what it means to, like, at 2AM, your gas station got robbed, and you gotta go down there and sort it out with the cops or something like that. And so I'm wondering about, like, what is the actual lesson there for someone who's, like, about to get over their skis?
00:57:30 · Alex Hormozi
[00:57:30] S1: Yeah. I think humans are inherently dissatisfied. Okay. And I think whatever you have, you want what you don't have. And so if you're married, you're like, oh, what what life would be different if I'm single. If you're a parent, you're like, oh, can you remember when didn't have kids? And when if you don't have kids, you're like, I wish I had kids. Yeah. If you're an employee, you're like, man, I wish I'd be an entrepreneur. And somebody an entrepreneur, like, it would be so nice to just show up and clock out of five and have to think about and get a check. Like, we just always we want to make we want the benefits of a trade off without the negatives of the trade off. Sure. Yeah. And so when guys are in the cash flow business, because I'll I'll because I that's who I talk It's like, what they're thinking about all the time is just like, it's hard to sell this business. Yeah. I'm not really building my net worth. The multiples that I'm gonna get on this aren't gonna necessarily be that high. I'm dealing with people all day. I deal with low skilled labor, and I've got, you know, churn issues or finding techs that aren't gonna show up drunk on the job. Like, there's like, my one of my favorite quotes of all time I've been trying not to cuss on this one, but Go ahead. My CFO was Deep South Texas when we were when we were in Texas when were building Jim Lodge. Suzanne Schifflett, shout out to Suzanne. She was the reason we were was up at gym launch. She's she had been she had been a CFO for four companies from 1 to a 100,000,000 plus, had done a $5,000,000,000 exit, and I think she'd she'd been either buy side or sell side over 20 times. Wow. She was just like she was a just so weathered in a good way. Right? And she said, you know what, Alex? She's like, it's all shit. She was like, it's all shit. Every business is shit. It's all shit. And I and it was but it was like, she said it with so much sincerity because I was like at the time, I was like, man, be cool if we got this kind of multiple blah blah blah blah. And she was like, it just doesn't it's it it all sucks. Yeah. And it's just different type of suck, but it all sucks.
00:59:07 · John Coogan, Jordi Hays, Alex Hormozi
[00:59:07] S0: Yeah. Be satisfied. [00:59:09] S2: We're at time, but give us a pitch for scale or fail. [00:59:13] S1: If you like seeing entrepreneurs try their absolute hardest and have a completely new paradigm shift in ninety days, to scale their business the most, then watch the show. I meet with them for an hour, give them a whole blueprint of what I would do if I bought the business a 100% today, and then they execute and they compete. I love it. [00:59:32] S2: Amazing. So reminds me of PMF or Die. Yeah. We we we experimented with the show last year. So it was like niche audience. Yeah. Yeah. It was like it was like we we we put this team in an apartment in New York. They were not allowed to leave for ninety days until or or until they build a million dollar ARR business. It it it it it descended into chaos. [00:59:54] S1: It was mortified. Mortified. Mortified. For sure. [00:59:56] S2: It's totally crazy. And we were like, we don't have time to do this and this. [01:00:00] S0: But it had it had, like, hundreds of people watching at all times. It was actually gripping. [01:00:05] S2: And it was just a livestream of them in the apartment Yeah. Just, like, cooking. [01:00:08] S0: Yeah. It was But one of them got really good at talking to chat. It was a whole thing. It it was sort of opened us up to a [01:00:12] S2: live audience. Example because, like, one of them clearly was, like, a gifted content creator, and the other one was, like, why am I on camera? [01:00:18] S1: This is terrible. This is terrible. Did he become a content creator?
01:00:18 · Alex Hormozi, Jordi Hays, John Coogan
[01:00:18] S1: This is terrible. This is terrible. Did he become a content creator? [01:00:21] S2: No. We gotta check-in with him. [01:00:23] S0: We gotta check-in with him. [01:00:24] S2: He he But they're both both very challenged. A little bit out of They both needed to, like, disconnect. It was [01:00:28] S0: But yeah. Let let the last [01:00:30] S2: episode So don't do the show live. Then people will will actually go [01:00:33] S0: Edit is is a great This was awesome. Dude. [01:00:36] S1: Hey. This is Thanks, man. For having me. Thank you so much for coming on. Pleasure. Thank [01:00:40] S0: you, guys. We'll talk to you soon.