01:10:34 · John Coogan, Jordi Hays
[01:10:34] S0: Even if you're grinding and it's not going anywhere. [01:10:36] S1: Yeah. The way the way I look at it is like in every single category, there's an amazing business. Yeah. And the funny thing the the funny thing that everyone thinks about, like, Airbnb is like the dumb idea. When it's like it wasn't a dumb idea. It just seemed ridiculous. Yeah. That's very different than, like, somebody that, like, chooses apparel as a category, which everyone knows is, like, structurally really, really, really challenging, really, really competitive. Yes. There's, like, a 100 companies in the world that absolutely print. And if you're one of those companies, then you're then you're great. But some people, like, choose apparel and then three years in, then they understand the competitive dynamics and they're like, I'm in a shitty business. Mhmm. I think that's very different than, like, choosing the thing that seems silly even though Airbnb at this point is now, like, the best business. Right? [01:11:21] S0: Sure. Sure. [01:11:22] S1: Sure. Yeah. Massive scale, network effects Yeah. Yeah. A great product, all these things. Yeah. [01:11:27] S0: I
01:11:27 · John Coogan, Alex Hormozi, Jordi Hays
[01:11:27] S0: I [01:11:28] S3: think if you look at the marketplace that you're trying to get into, there's usually gonna be a bolus of businesses at some part, And that gives you some idea of where the difficulty in that business is. And so, like, for example, if you're gonna get into I wanna start a social media marketing agency. It's like, well, there's a bolus at the bottom. And then very few who ascend to the top, and it's because it's really, really difficult operationally because if you're really good at marketing, then you can usually make enough money to not work at one of those types of businesses. And so you're constantly you have to be so good at ops and so good at marketing and branding and sales Mhmm. In order to just slowly get these bigger and bigger accounts and you kinda level up the types of customers that you can go after. Because all those businesses go after SMBs, and SMBs are inherently volatile. And so even if you do a great job, they'll still cancel. And so it's just a churn number of business. [01:12:10] S1: Not not to mention Yeah. Your flagship client will eventually say, like, hey. We're spending a $100,000 on this service. We could hire five people Mhmm. That are the best in the world at what they do, and they'll just focus on us. Let's do that instead.
01:12:10 · Jordi Hays, Alex Hormozi, John Coogan
[01:12:10] S1: Not not to mention Yeah. Your flagship client will eventually say, like, hey. We're spending a $100,000 on this service. We could hire five people Mhmm. That are the best in the world at what they do, and they'll just focus on us. Let's do that instead. [01:12:22] S3: Yeah. Like, there are there are there are impediments to that business scaling. Can you do it? Absolutely. But I'm just a huge advocate of just, like, just look at what the biggest version of that business looks like. Because this is obviously a more tech forward show, but, like, the vast majority businesses are not tech businesses. Yeah. Right? There's, like, HVAC businesses all over the place. There's pool cleaners. There like, there's a lot of shit you can do for money. Yeah. And so I like, unless you want to be a trillionaire like, you can be a billionaire in just about any boring business. You look at you'll get what's his name? Is it Brad Jacobs? Yeah. Yeah. Actually, six times Yeah. Yeah. Make a few billion dollars. Yeah. Few then he has a sequel, a few more billion. [01:12:58] S1: Few more billion. You guys are kind of you guys are very yeah. I never I never thought of you as [01:13:03] S0: Homebuilding materials.
01:13:03 · John Coogan, Alex Hormozi
[01:13:03] S0: Homebuilding materials. [01:13:04] S3: Yeah. There's just a lot of businesses out there, and so it just depends on, like, what the goal is. But any business done for like, zooming all the way out, if you do one thing for forty years and you get better every year, you're gonna fucking dominate. Mhmm. And so on some level, going after the tech opportunity, though they're they're for sure are the big the big mega winners, It's easier to compete against the people who are going after the pool cleaners. There's just there's, like, there's less sophisticated players. There's less capital. And so having a little bit of street smarts and a lot of work ethic can get you pretty far there. And you look at that compared to, you know, you look at the guy who's doing 7,000,000 a year top line, 2 and a half million dollars in bottom line, doesn't really work that much, has a crew of guys. Is that the life you want? Yeah. Because there's nothing, like, there's nothing wrong with that. Yeah. And so I think it's deciding first to the younger guy, like, what do I want Mhmm. Or what is an acceptable outcome? And then what of the many, many paths that are ahead of me have the highest likelihood of me getting there? And then once you pick that path, know that if you stick with that path for twenty years, the likely that you fail is basically zero as long as you have some feedback loop for improvement. [01:14:10] S0: Yeah.
01:14:10 · John Coogan, Alex Hormozi, Jordi Hays
[01:14:10] S0: Yeah. [01:14:11] S3: That's basically it. Figure out where you wanna go, find the highest likely path of getting there, and then do not let the opinions of strangers or people who do not have what you want dissuade you from getting there. [01:14:22] S0: Yeah. What do you think about, there's this odd trend of, entrepreneurship, like, I don't know, like, mindset stuff where you gotta be doing sauna, cold plunge, meditation. And I feel like that only makes sense once you're successful. And then you look at the successful people and you're like, well, yeah, the rich guy has a sauna. But Yeah. What was he doing when he was broke? He was waking up and getting on his laptop. Laptop. But Yeah. How how have you reacted? [01:14:47] S3: Yeah. Rich people fly private, so I should fly private in order to get rich. Yeah. It's it's doesn't work. It's conflation. Yeah. Okay. So at the most basic level, you have to do work. Yeah. And if it is not the work, then you have to have a very strong argument that it's going to increase your output per unit of time. Mhmm. Period. [01:15:05] S0: Yeah. [01:15:05] S3: And so if you have a three hour morning routine, and that's the first three hours a day when you're probably the cognitive, like, the freshest of the most energy, you would have to have an incredible do you curse on the show? [01:15:14] S0: We don't. [01:15:15] S3: Okay. Incredible darn argument. You're you're welcome. You're Our [01:15:18] S1: kids are our kids are watching, but, you know, by all means have to have
01:15:18 · Jordi Hays, Alex Hormozi, John Coogan
[01:15:18] S1: kids are our kids are watching, but, you know, by all means have to have [01:15:21] S3: incredible argument for why that's going to improve your output. And so, like, the morning routine that I'm a big advocate of is you wake up and then you caffeinate. Sure. You shut off your your distractions and then you begin the work. And how how much you can compress the time from waking to beginning work [01:15:35] S0: Sure. [01:15:36] S3: Is the ideal. And you are the freshest whenever you are post sleep. [01:15:40] S0: Yep. [01:15:42] S3: And so I like, if you wanna do that stuff, I'm like, by all means, go for it. But, like, just understand, like, you can plenty of people have hobbies. You can have hobbies. Like, there's nothing wrong with that. It's just is this actually and you also didn't need to work sixteen hours a day in order to get what you want. I'd have plenty of friends who are super successful and don't work that much. Yeah. Now did they work sixteen hours a day to get there? Probably. Yeah. And so this is the modeling the rise, not the plateau. And what's difficult is the plateau is what's more visible. [01:16:06] S0: Sure. [01:16:06] S1: What do you think about and [01:16:07] S3: then you can make the content. Yep. Right? No one's [01:16:09] S0: Yeah. [01:16:10] S3: Making this part. [01:16:10] S0: No. No.