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.
01:16:10 · John Coogan, Jordi Hays
[01:16:10] S0: No. No. [01:16:11] S1: What do you think about, people sort of like staging out their sort of career as an entrepreneur? I was talking to a friend of mine who has a something like an agency business in fashion. He's gonna do like about $1,000,000 this year of like profit. A fantastic business. He has he he eventually wants to have his own his own brand. My my advice to him is like fashion is such a like bad business until it's a great business till you have like a flagship brand that takes twenty years to make. I was like, get your business to like a couple million a year, get it like established, couple million a year profit at least, get it established, get, you know, ten, twenty flagship clients that are on sort of long term contracts, and then basically use that cash flow to invest in your brand. And like a lot of people would be like give him the advice now of like, just go all in on go all in on the brand. Like, are you wasting time with this other thing? Yeah. And I feel like that's very, that that works super well, like, if you have a trust fund. But for somebody who's like 27, let's assume they wanna have a family in a few years, I was pushing him to say, like, make this thing great even though you know it's not the thing that you wanna be doing for that forty year chunk of your career. But how would you talk to to somebody in that sort of space?
01:17:33 · Alex Hormozi, Jordi Hays, Tyler
[01:17:33] S3: So I don't think there's a right answer because it's all dependent on risk, which is entirely personal. Yeah. And so if you wanna go balls on the line, that's not cursing, then then do it. Go all in. But, like, just understand the risk that you're taking on. And so I would say that that's not a risk that I would take. I would say that I'm guilty it. [01:17:52] S1: There's risk to being all in and then not having the capital to actually fuel the opportunity. Right? My point of view is, like, you're gonna be way way way higher likelihood of success if you sort of build slow and you can put half 1,000,000 a year of like outside capital into the business Mhmm. Versus like trying to build this brand when you don't have a a capital source. [01:18:11] S3: Depends on gold, depends on risk tolerance. Like, I wanna be a trillionaire and then and I'm willing to take the risk, then it's like, yeah. I mean, you should have started yesterday. [01:18:19] S2: You know
01:18:19 · Tyler, Alex Hormozi, Jordi Hays
[01:18:19] S2: You know [01:18:20] S3: what I mean? But my perspective is I would like to get my oxygen mask on personally. And I was able to make I've been able to to take significantly bigger and bigger bets in my career because I don't they're free swings. Yeah. If I lose, my my life changes to zero. Yeah. And so in thinking about big life changes, what's been really helpful for me is what is my what tactically changes about my life? Do I change what I eat? Do I change what I wear? Do I change where I live? Do I change the car I drive? Mhmm. And and do these things matter? Right? Does it change who I'm married to? If none of these things change, then almost none of these decisions are gonna actually have a huge impact on my life, which then makes the argument for, maybe I should take a higher risk adjusted return move. Mhmm. But I would say that from the emotional side rather than the logical side, it was I have tried I very quickly tried to have a nest egg to be like, I'm good. Yeah. And that's what's allowed me to take really big bets, things like school. Schools [01:19:11] S1: have platform. I like we did that. Oxygen mass is a is a great way to Yep. Put that on. If you're gonna be