00:46:46 · John Coogan, Alex Hormozi, Jordi Hays
[00:46:46] S0: It's like, [00:46:47] S3: it's nothing. And the it's super fragmented because still no one's really, like, gobbled that up well. Not that that I've seen. And to your point of, like, when I asked them, like, hey. So what are you doing right now to get your 6,000,000 a year top line and, you know, 40% margins? And they're like, kinda just, you know we just opened up and put the sign up and you just did a good job. And and, you know, you know, people customers tell customers, like, you know, that's not how it fucking works. [00:47:10] S1: Yeah. And it's not how it's gonna work forever. [00:47:12] S3: No. They're just in a completely supply constrained environment. They just don't know it because when you're on the inside, don't know. You're like, oh, I'm doing a job. [00:47:18] S0: Is part of the problem that a lot of the med spa, like, founders get a little bit too sucked into the bio hacker nature of these things and it feels a little bit too scientific? [00:47:28] S1: Think it's that at all. I think it's like it's it's so short term. A lot of the med spas, I think, are, like, very short term cosmetic driven. Like, how do we make you look good for the next three to six months? Is not necessarily what makes you look good over the next three to six years or over the next few decades. So that's at least generally [00:47:50] S3: There's a slice for Johnson to attack, which he obviously that's he's a very smart dude.
00:47:50 · Alex Hormozi, John Coogan, Jordi Hays
[00:47:50] S3: There's a slice for Johnson to attack, which he obviously that's he's a very smart dude. [00:47:54] S0: Yeah. Yeah. How would you attack the problem? Roll up, find a bunch of operators, put them together, start start something from scratch? [00:48:01] S3: I mean yeah. I mean, the roll bottle would make the most sense. Yeah. The thing is is like de novo is not that expensive. Sure. Yeah. And if you are a good operator, you can go into Smash. Yeah. Yeah. Because when when people are coming in when your when your CAC is zero and your and your gross margins on these services are absurd Mhmm. The the actual difficulty in that model right now is getting the talent for the technicians because because it's supply constrained at the business level, it's also supply constrained at the talent level. Yep. [00:48:27] S1: Yeah. And so And it's so easy for them to open up a door. Exactly.
00:48:27 · Jordi Hays, Alex Hormozi, John Coogan
[00:48:27] S1: Yeah. And so And it's so easy for them to open up a door. Exactly. [00:48:30] S3: They hang their own shingle. They take the customers, and, like, that's the issue that those companies have. And so the key to really winning that game is having a really good talent strategy for how do I make their lifestyles? How do I how do I compensate them as directly as possible on what they're generating? And get it to the point where my godfather is in wealth management, and he's a really cool model. He's managed several billion dollars and he but he started at nothing and built it all himself. And his big thing was and his big thing was basically letting the other person have a little more. Yeah. And so it's like, he'll he's like, I'll give you 51 so that you don't ever wanna leave [00:49:03] S1: Sure. [00:49:04] S3: But then you do all the work. [00:49:05] S1: Yeah. It probably looks more like a law firm over time. [00:49:07] S3: A 100%. It's more of a partner pro and to be fair, if you've been to any of these, I would say it's a high touch service. They're they're not loyal to the business. They're loyal to the girl who does her injections or does their lasers or whatever. [00:49:16] S0: Yeah. [00:49:17] S3: Yeah. And so it's like we just gotta tie those people in like a partner firm. Yeah. [00:49:21] S1: Speaking of Brian Johnson, do you care at all about living forever?
00:49:21 · Jordi Hays, Alex Hormozi, John Coogan
[00:49:21] S1: Speaking of Brian Johnson, do you care at all about living forever? [00:49:27] S3: I don't even think about it. I expect to die. I would prefer not to, but, like, I'm good I'm good either way. Like, I I think Marcus really has said the the old and the young lose the same thing when they die, which is the present. That's all we got. [00:49:41] S1: So yeah. I love it. I'm a similar way. I wanna have a full life, but I never, at any point in my life, have I thought, oh, it would just be the best thing ever if I could never die. Yeah. [00:49:56] S0: Going back to sort of core audience Yeah. I think of, like, the sweet spot is, like, mid market owner operator founder types. Is that roughly accurate? [00:50:06] S3: One to fifty million. [00:50:07] S0: One to fifty million. What is the expansion opportunity? Is there a business for you where you're giving keynotes at Fortune 500 companies, motivational speaking for, like, you know, middle managers at companies? Companies? Or or or is it or is it getting people on the founder journey who are leaving companies, breaking out into their own, and going from zero to 1,000,000? What do you think? [00:50:30] S3: Well, from an expansion opportunity, like, I think there's still plenty of people in the one fifty million who don't know who I am and haven't consumed my stuff or whatever. So, like, plenty there. But the like, if I just focus there Yeah. I get the zero to a million Sure. Anyways. Yeah. Yeah. Because if you're helping people go from one to 10, people are like, you can probably help me get from one to zero one.
00:50:30 · Alex Hormozi, John Coogan
[00:50:30] S3: Well, from an expansion opportunity, like, I think there's still plenty of people in the one fifty million who don't know who I am and haven't consumed my stuff or whatever. So, like, plenty there. But the like, if I just focus there Yeah. I get the zero to a million Sure. Anyways. Yeah. Yeah. Because if you're helping people go from one to 10, people are like, you can probably help me get from one to zero one. [00:50:47] S0: Yeah. Yeah. [00:50:47] S3: Yeah. And so I'm super broadly zooming out. Mhmm. I'm a big fan of capitalism. And I think as many people as possible participating in a free market is a good thing for the country and for that person and for everyone else that they serve. And so I would like as many people to taste that that, that forbidden fruit as humanly possible. And so I try and make it as simple and as easy as possible for people to get started.
00:50:47 · Alex Hormozi, Jordi Hays
[00:50:47] S3: Yeah. And so I'm super broadly zooming out. Mhmm. I'm a big fan of capitalism. And I think as many people as possible participating in a free market is a good thing for the country and for that person and for everyone else that they serve. And so I would like as many people to taste that that, that forbidden fruit as humanly possible. And so I try and make it as simple and as easy as possible for people to get started. [00:51:09] S1: Yeah. What mistakes do you see entrepreneurs making around AI? Because I'll give you one. The the small business owners that I know that get too in, like, into AI, and maybe they're listening to podcasts and they're on x and and and we're Orange glasses ready to go. They'll like they won't just apply AI to their business. They'll like start a new company that's like AI oriented. Mhmm. And and I just think that's like the worst possible mistake because they end up doing something that like the model just does well. And it's like, okay, so you're gonna compete just directly with like all the biggest companies in the world on something that you don't even know as well as the biggest companies in the world when you did. [00:51:52] S3: When you [00:51:52] S1: could just like and so and so there's like this like grass is greener thing happening Yeah. Where instead of seeing, like, oh, I can just make, you know, these parts of my business, even if it's just 10% more efficient, I can I can, you know, keep compounding? But what are you seeing?