YouTube transcript (0lMn_-EXyhQ) — Transcript

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1. 0:00I have used one strategy to win
2. 0:02repeatedly across 13 years in business
3. 0:04and also outside of business. And it's
4. 0:06one of the biggest reasons that we had a
5. 0:08$105 million launch for $100 million
6. 0:12money in 72 hours for my latest book.
7. 0:14And I'm going to explain why it's the
8. 0:16highest risk adjusted return move that
9. 0:18you can make to win more in business or
10. 0:20just win more in life. And so if you're
11. 0:21not sure what to do right now within
12. 0:23your specific business, no matter what
13. 0:24industry or size business you're in or
14. 0:26whatever goal you're pursuing, this will
15. 0:28help. I talk about more, better, new a
16. 0:30lot, but I want to dive into the one
17. 0:32that is near and dear to my heart, the
18. 0:33one that is that has made me the man
19. 0:35that I am, which is more. And I want to
20. 0:37talk about that because the fundamental
21. 0:38question every single business owner
22. 0:39needs to answer. And even every person
23. 0:41pursuing any skill or endeavor needs to
24. 0:43answer is why can't I do more? And for
25. 0:45most people, doing more is the answer.
26. 0:48And it's far more common that it is
27. 0:50more. What's very sneaky about more is
28. 0:52that you get to a point and then you
29. 0:54say, "There's no way I can do more." And
30. 0:55at that point is where the big unlocks
31. 0:58in volume really occur. Napoleon had
32. 1:00this really great quote back in the day
33. 1:02and maybe it's misattributed to him but
34. 1:03he said quantity has a quality unto
35. 1:05itself. Meaning like if you do so much
36. 1:07volume you do so much work and in the
37. 1:09military sense if you just have so many
38. 1:11people at some point it almost has its
39. 1:13takes on its own quality of the amount
40. 1:15of work the amount of people the amount
41. 1:17of volume that you're putting into
42. 1:18something whatever it is that you want
43. 1:19to break through. So big picture I
44. 1:21wanted to give you a couple cool little
45. 1:22anecdotes to reinforce this. Some of you
46. 1:24guys know about Shiron. He was on the
47. 1:26live with me. He's our president at ACQ.
48. 1:27I'll tell you two stories about Chiron.
49. 1:29I'll tell you the moment where like we
50. 1:30went from being friends to me being
51. 1:32like, man, I really want him to be, you
52. 1:34know, president of acquisition.com. So,
53. 1:36he was talking about how he was growing
54. 1:38Real. And so, Real was a $200 million
55. 1:40per year business. And he had grown it
56. 1:42from 200 million to 1.2 billion in less
57. 1:44than 3 years. So, like 30 months. And I
58. 1:46want to put that there as a as a moment
59. 1:48for you guys to think about that how how
60. 1:49insane that is. 200 million to 1.2 2
61. 1:52billion less than 3 years. How does he
62. 1:55do it? We're having dinner and he says,
63. 1:57"I just did 260 events in the last 365
64. 2:01days." And I was like, "What do you
65. 2:02mean?" And he was like, "I flew around
66. 2:04and I did every single real estate
67. 2:06event. I spoke on every single stage."
68. 2:08And that's how I generated, you know,
69. 2:10more demand for our uh our platform for
70. 2:12realtors. [music] And when he said that
71. 2:14to me at dinner, I was like, "This guy,
72. 2:16he gets it." Now, we've been friends for
73. 2:18years, but seeing him so tactically
74. 2:20involved in the business and being like,
75. 2:21"That was the thing that took a $200
76. 2:23million business to $1.2 million, just
77. 2:27sheer volume." Now, most people might
78. 2:29hear that and think, "Well, yeah, I
79. 2:31speak on stages one time a month, and
80. 2:32you know, I mean, I I'm on stages all
81. 2:34the time." It's like, no, no, you're not
82. 2:35on stages all the time. You have no idea
83. 2:37what being on stages all the time
84. 2:38actually means. Most business owners
85. 2:40wildly underestimate the amount of
86. 2:43volume one that is required and two that
87. 2:45they are capable of. Your capability is
88. 2:47always higher than what is required. But
89. 2:49the thing is is that you might not know
90. 2:50it yet. And so I've had so many times in
91. 2:52my life that it's become my de facto
92. 2:54operating principle. And so I want to
93. 2:55read you this. This is from my internal
94. 2:57sales handbook that I have for my sales
95. 2:58team. This is the culture of
96. 3:00acquisition.com. Like we ask how can we
97. 3:02do more? Many people say they want to be
98. 3:04in the top 1% or.1% or even 01%. But
99. 3:08saying that has zero bearing on whether
100. 3:10it happens. Achievement comes from
101. 3:12actions, not aspirations. So let's get
102. 3:14real. To be the top 1%, you need to
103. 3:17enter a room of a 100 people and leave
104. 3:19number one. To be the top.1%,
105. 3:22you need to enter a room of a,000
106. 3:24people, like a local high school, and
107. 3:26leave number one. To be the top 01%, you
108. 3:29need to enter an arena of 10,000 people
109. 3:32and leave number one. Think about it, a
110. 3:34stadium. And in a battle to the death in
111. 3:36that stadium, you have to come out on
112. 3:38top. You beat everyone. Not almost
113. 3:41everyone, [music] everyone. And so if
114. 3:43you have the goal to be in the top 01%.
115. 3:46Do you think that you can live a normal
116. 3:48life? Do you think that you can keep the
117. 3:50same friends? Do you think that you can
118. 3:51keep the same hobbies? Do you think you
119. 3:53can stay up late and sleep in on
120. 3:54weekends? Do you think that you don't
121. 3:56have to sacrifice what average people
122. 3:58care about? Do you think that they will
123. 3:59support you when you start to pass them?
124. 4:02Do you think anyone will think this is
125. 4:03healthy, balanced, or logical? No. And
126. 4:06they're right. But it doesn't matter.
127. 4:08When you want to be the 01%, there's no
128. 4:11greater waste of time than explaining
129. 4:12yourself to people who actively don't
130. 4:14support you. It's normal for people to
131. 4:16not understand why you do what you do. I
132. 4:19say this because you cannot make
133. 4:20yourself exceptional and live a normal
134. 4:22life. To make yourself exceptional, you
135. 4:24must live an exceptional life. And an
136. 4:26exceptional life does not always mean
137. 4:28better. It just means that it's so
138. 4:30different that most people will reject
139. 4:32it. And when that happens, you must
140. 4:34reject them as well. Oil and water do
141. 4:36not mix. [music] That is what it really
142. 4:38means to be exceptional. You must become
143. 4:40the exception. So, I routinely get asked
144. 4:43the secret to success. And it just comes
145. 4:45down to this. Number one, get better.
146. 4:47Number two, never stop. If you do only
147. 4:50those two things, you will win on a long
148. 4:52enough time horizon. The problem is
149. 4:53people convince themselves they no
150. 4:55longer want something once they see the
151. 4:56experience of how hard it really is. So
152. 4:58I want to set this expectation for you
153. 5:00as you head off to practice scripts,
154. 5:02mark your calendar, and set your alarms.
155. 5:04The work begins when your motivation
156. 5:05ends. Just win. That's from our internal
157. 5:08handbook that we have at ACQ uh for our
158. 5:10sales guys. And I I want to read that to
159. 5:12you because I want to frame what I'm
160. 5:13talking about today. It seems like a
161. 5:14very simple thing just saying just do
162. 5:16more. But like it's almost become an art
163. 5:18form and something that I have like a
164. 5:20deep passion [music] about which is very
165. 5:21odd to say. But more actually has the
166. 5:24highest risk adjusted return move that
167. 5:26you can possibly make within the
168. 5:27business. The reason more has the
169. 5:29highest risk adjusted return for a
170. 5:31business or for you is that what it's so
171. 5:34hard to to get something to work, right?
172. 5:35Many of you guys have tried anything.
173. 5:36You have a new marketing channel, a new
174. 5:38sales script, a new offer. You try a
175. 5:40bunch of things and then finally
176. 5:42something works. The likelihood that you
177. 5:44changing that thing and that next thing
178. 5:46working is actually statistically very
179. 5:48low. Think about how many different
180. 5:49things you had to try before something
181. 5:51actually worked. [music] And so the idea
182. 5:52is, okay, I have these limited
183. 5:54resources. I can allocate them to take a
184. 5:57risk and roll the dice or I have this
185. 5:59thing that I know works and I need to
186. 6:01jam more into that machine, which is why
187. 6:04the highest risk adjusted return move.
188. 6:05Now, one of the other misconceptions
189. 6:07that I think is that there's a huge
190. 6:08prepoundonderance of people who talk
191. 6:10about optimization, getting as much as
192. 6:12you can for as little as you can. And I
193. 6:13don't think there's anything wrong with
194. 6:14that. The difference is that there are
195. 6:16optimizers and there are maximizers.
196. 6:18Maximizers try to ask the question, how
197. 6:20do I get as much as I possibly can?
198. 6:22Optimizers ask, how do I get as much as
199. 6:24I can out of as little as I can? When
200. 6:26you're looking at returns, maximizers
201. 6:29win. So, what's the difference between
202. 6:31first place, you know, gold in the
203. 6:33Olympics and second in the in the
204. 6:34Olympics, silver, right? A tenth of a
205. 6:36second in a race. But what is the
206. 6:38realistic difference, the real world or
207. 6:40pragmatic difference between being being
208. 6:42the best in the world and second best?
209. 6:44Everything. [music] And so when you're
210. 6:46talking to an Olympian, you're talking
211. 6:47to somebody who be wants to be the top
212. 6:491% 01% 0001%. Diminishing returns are
213. 6:53still returns. You need to do more
214. 6:55because you're trying to win, not be
215. 6:58cute about saying that you had great
216. 6:59return. And I I say this as somebody who
217. 7:01was a converted optimizer. So, in the
218. 7:03earlier part of my life, I really prided
219. 7:06myself on doing school with as little
220. 7:08work as possible. I was like, "You
221. 7:10nerds, I was like, you guys needed to
222. 7:11study. I can walk in and hit a 91 with
223. 7:14no study." And I'll tell you the story
224. 7:16that really, really changed my life. So,
225. 7:18this guy named Kemp, not he was like,
226. 7:20and hopefully Kemp, you know, maybe
227. 7:21you'll see this. I gave Kemp a hard
228. 7:23time. I did when I was in high school.
229. 7:25And [music] and he was a kid who didn't
230. 7:26catch on to stuff as fast. And you know
231. 7:28what? Kemp's a successful guy now. He's
232. 7:30done great. But this thing happened. So
233. 7:32all of high school I I kind of gave this
234. 7:34guy a hard time. And when we went to go
235. 7:36apply to colleges, I wanted to go to
236. 7:38Duke. So Duke's a top five school in the
237. 7:40US. And I didn't get into Duke. I ended
238. 7:42up going to Vanderbilt, which is also
239. 7:43obviously a great school, but I wanted
240. 7:45to go to Duke. [music] And guess who got
241. 7:46into Duke? Kemp not. And so what was
242. 7:49really interesting is that this whole
243. 7:50time like Kemp would go to study hall.
244. 7:52He'd be like, "Teacher, you forgot to
245. 7:53assign his homework." Like he was that
246. 7:55guy, right? And I I honestly just really
247. 7:58disliked him. But mostly cuz it probably
248. 8:00just reminded me of my own inadequacies
249. 8:02of like I was just unwilling to do the
250. 8:04amount of work that he was and I and I I
251. 8:05shamed him for doing the amount of work
252. 8:07that he did. I was like you have to work
253. 8:09so hard just to try and just try and
254. 8:11come close to me, right? But in the end
255. 8:14he got into the better college. And so
256. 8:15it was this really humbling lesson for
257. 8:17me that none of the colleges cared
258. 8:19[music] that I worked less than him.
259. 8:22They just cared about who had the best
260. 8:24applications and who had the best
261. 8:25grades. And it was this really like very
262. 8:27eye- opening experience. And so when I
263. 8:29went to college, I had a different frame
264. 8:31that I was like, well, I'm not going to
265. 8:32lose. I want to go here and I want to
266. 8:34maximize. I want to study all the hours
267. 8:36of the day that I'm not in class, at the
268. 8:39gym, or at the cafeteria. I'm in the
269. 8:40library. And you can ask anyone that I
270. 8:42ever went to school with, if you ever
271. 8:43meet them. Like that's where I was. I
272. 8:44was in the library 12 hours a day cuz I
273. 8:46was like, well, if I just study more
274. 8:47than everyone, I'll get good grades. And
275. 8:50that worked out pretty good. That's just
276. 8:52kind of a just a little bit of framing
277. 8:53around why I have such a such a strong
278. 8:55affinity for more. Now, I'll give you a
279. 8:57second kind of a little bit more heady
280. 8:59reason. So, I talked about how more is
281. 9:00the highest riskadjusted return. I
282. 9:02talked about how diminishing returns are
283. 9:03still returns. They're still output,
284. 9:05right? The next piece though is that
285. 9:08change [music] has a fixed cost and a
286. 9:10variable reward. All right, so let me
287. 9:12explain what that means. So, I want you
288. 9:13to imagine that this line right here,
289. 9:15ooh, nice and wet. How I [music] like
290. 9:17it. My markers, calm down, guys. Okay,
291. 9:19so I've got this line. This represents
292. 9:22your revenue or whatever your current
293. 9:24level of activity or output is. Okay?
294. 9:26Now, what happens is most entrepreneurs,
295. 9:29they say, you know what, I'm going to
296. 9:30change something. They think they're
297. 9:31going to change something and things are
298. 9:32going to get better, right? You tweak
299. 9:33something, you mess around, you change
300. 9:34your page, change your script, change
301. 9:35your onboarding process, whatever,
302. 9:37[music] right? So then what happens?
303. 9:38Well, if there's people involved,
304. 9:39typically output will go down. You have
305. 9:41to retrade the team. They have to
306. 9:42practice. You know, this variable
307. 9:44affected two other variables you didn't
308. 9:45know about. And this is completely based
309. 9:47on my observation. you typically get
310. 9:50about a 20% decrement or decrease in
311. 9:53performance. What ends up happening
312. 9:54after that is it might not work and then
313. 9:57you stay here or it might be worse and
314. 9:58this goes here or it might get better
315. 10:00and it comes back up eventually, right?
316. 10:02And then maybe you have a 5% higher
317. 10:04output here. This is now your new
318. 10:06baseline. Now, here's the thing. If you
319. 10:09have a 20% guaranteed decrease and you
320. 10:12have the potential for a 5% increase, do
321. 10:14you take that bet? No. But I see
322. 10:17entrepreneurs every day, myself included
323. 10:20for many years, taking that bet over and
324. 10:22over again because I was like, I just
325. 10:23have to get better. I just have to get
326. 10:24it better. But it was a fallacy. It's
327. 10:26not true. Sometime like your business
328. 10:28will never be perfect and you have to
329. 10:30accept that fact. It will not be
330. 10:31perfect. And the thing is is you don't
331. 10:33even know if it's going to get better.
332. 10:34You just aren't sure if it's quote good
333. 10:36enough and so you just want to change
334. 10:37it. You want to mess with it, right? But
335. 10:39the magic is the compounding returns you
336. 10:41get when you do the same thing over and
337. 10:43over again. you get this this depth of
338. 10:45understanding, this depth of skill that
339. 10:47happens with repetition, right? If if
340. 10:49necessity is the mother of invention,
341. 10:51repetition is the father of skill. But
342. 10:53let's look at what entrepreneurs will
343. 10:54normally do. Maybe they'll start seeing
344. 10:56some increase here. But what do they do
345. 10:58next? They say, you know what, I've got
346. 10:59this other idea I have. And so then they
347. 11:01get another 20% decrease. And so they're
348. 11:04constantly living significantly below
349. 11:06their output means or your revenue or
350. 11:08whatever your thing is, below what your
351. 11:09potential is because you're constantly
352. 11:12changing stuff. And I want to be real
353. 11:13with you for a second. If you're a small
354. 11:15business owner, you've got maybe 10,
355. 11:17maybe 20 employees or if you're anything
356. 11:19less than that, then like hear me right
357. 11:21now. The amount of resources that you
358. 11:23have to implement change are so limited.
359. 11:26I pick like one big thing a year that I
360. 11:29do like one. And what happens is when
361. 11:32you realize how limited your resources
362. 11:34are in order to deploy successfully a
363. 11:37new change or a new experiment, what
364. 11:39happens is it forces prioritization. It
365. 11:42forces you to focus on what things if I
366. 11:44only had one thing that I could do this
367. 11:46year. What one thing would I be like
368. 11:48this is the bet I'm going to take? Well,
369. 11:49it certainly wouldn't be a 5% thing,
370. 11:51right? Well, maybe if we write
371. 11:52handwritten cards, we'll get a 5%
372. 11:54increase in referrals, maybe, right? But
373. 11:56given those resources, what else could
374. 11:58you do? And so, when you look at the
375. 12:00whole thing, the whole spectrum, and
376. 12:01this is how I want to I want to frame
377. 12:03strategy for you around this. Most
378. 12:05people think about business strate I got
379. 12:06this from Chiron. I love this. I'm using
380. 12:08it all the time. It's so [music] good.
381. 12:09Most people think about business
382. 12:10strategy like they think about making
383. 12:11dinner. So they go to their kitchen,
384. 12:14they open up the fridge, they look
385. 12:15what's inside, say, "What what what am I
386. 12:16going to whip up?" Right? That's how
387. 12:17they think about business strategy. But
388. 12:19the question that we should be asking
389. 12:20isn't what am I going to whip up from
390. 12:22what's inside the fridge. We should ask
391. 12:23the question, "What the do I want to
392. 12:25eat?" And then go get the ingredients
393. 12:27and go make it happen. When you're
394. 12:28saying, "I'm only going to take one bet
395. 12:30or two bets this year. They're going to
396. 12:32be material." Then it forces you to be
397. 12:33like, "It's got to be worth it." Because
398. 12:35here's the part that no one else knows.
399. 12:37If you change nothing, believe it or
400. 12:39not, people get better at their jobs,
401. 12:42they get more skilled. And so, you'll
402. 12:44typically have 1 2 3% increases that
403. 12:46happen kind of month over month from you
404. 12:48just not changing anything, from just
405. 12:50leaving it alone. And so, this has taken
406. 12:53me so much time cuz I'm a natural I'm a
407. 12:55yes hinge, right? I'm like, let's do it.
408. 12:57Let's shake it up. But why? Cuz the
409. 12:59times I've made the most money in my
410. 13:00life have not been when I've been
411. 13:01changing the most. It's actually when
412. 13:02the business has been really boring and
413. 13:04we're just blocking and tackling and
414. 13:05doing it over and over again. And so
415. 13:06this is something that some people never
416. 13:08learn. Honestly, a lot of entrepreneurs
417. 13:10never learn this. And the hard question,
418. 13:13the hard problem to solve is not the new
419. 13:16idea that you want to try. It's how can
420. 13:18I do more once I've already exhausted my
421. 13:21existing way of [music] doing more. So
422. 13:23for me, the minimum rule is that it's
423. 13:25got to be over 20%, if I'm going to get
424. 13:27a 20% loss, guaranteed, right? Of
425. 13:30course. But I don't even know if I'm
426. 13:31going to get this 20%. Because we have
427. 13:33to analyze this through this is an
428. 13:35investor frame by the way. [music] It's
429. 13:36called uh it's called ICE right which is
430. 13:39impact which is like how big right
431. 13:41confidence is how likely and then ease
432. 13:44is what are the resources required uh
433. 13:46for us to make this thing happen right
434. 13:49now. The perfect world is something
435. 13:50that's gigantic impact gigantic
436. 13:52competence and super easy right that
437. 13:54would be the best type of thing. And so
438. 13:55when we have a riskadjusted return move
439. 13:57we think okay I think this could double
440. 13:59the business. I have super high
441. 14:00confidence and I think it could be easy,
442. 14:01then those are the types of bets we want
443. 14:03to take. Because said differently, if
444. 14:05you know that something could double
445. 14:06your business with one move, why would
446. 14:08you do three? Just because you have this
447. 14:10compulsion to be busy, to mess with your
448. 14:14team, doesn't mean it's what the
449. 14:15business requires. And so, a lot of
450. 14:17people use the business to satisfy their
451. 14:19own ADD, to satisfy their own need for
452. 14:21novelty when the business thrives on
453. 14:24same. It's very rare that you're Kodak
454. 14:26and you need to adjust to the digital
455. 14:28world. It's very rare. We love to tell
456. 14:31these stories, but what we don't tell is
457. 14:33the guy who just said, "You know what?
458. 14:34I've got three levels of my membership
459. 14:36and we're doing a million dollars a
460. 14:38year. How do I 10x my traffic and get to
461. 14:40$10 million a year? And then once I'm
462. 14:42there, what do I need to do to get to
463. 14:44another 10x of traffic to get to $100
464. 14:45million a year?" We don't ask those
465. 14:47questions because one of the fallacies
466. 14:49or the the pains of small business
467. 14:51owners is that uh we and myself
468. 14:53included, right? We consistently think
469. 14:55small. We don't think big enough. And so
470. 14:57let me let me give you an example on
471. 14:59this, right? So let's say and this is
472. 15:02where people get obsessed around
473. 15:03optimization. They get obsessed around
474. 15:06relative returns rather than absolute
475. 15:08returns. So let's say that you've got a
476. 15:10marketing campaign where you put $100 in
477. 15:14and you get call it let's say you get
478. 15:16$1,000 out. Okay? So this is 10 to one.
479. 15:19Amazing, right? Cool. But as soon as you
480. 15:22scale to $200, let's say that you now
481. 15:26are getting uh $61, so you get $1,200,
482. 15:30which is pretty bad. You know, you you
483. 15:31spent twice as much money and you only
484. 15:33made $200 more, right? Most people would
485. 15:35say, "Ah, I I should stop doing this."
486. 15:37The maximizer says,
487. 15:40"We made more money. Net net, we made
488. 15:42900 here, 1,000 - 100. Here [music] we
489. 15:46made a,000. This is still more." And
490. 15:49this is what people miss out on. And so
491. 15:51what happens is when you're a small
492. 15:52business owner, you get obsessed with
493. 15:53these relative returns. And there's a
494. 15:55point where you do want really high
495. 15:56relative returns. You want big high LTB
496. 15:58to CAC and we can get into some of that
497. 15:59stuff. But I want to just put pin this
498. 16:00from a from a larger thinking
499. 16:02perspective [music] because I will see
500. 16:04people stay in these optimization loops
501. 16:07for years. You know, my my optin page
502. 16:09converts at 30%. Right? This is my
503. 16:11optin. And they'll just keep testing it
504. 16:14trying to get it to 35 or 40 or 45%. But
505. 16:18the thing is is like you will never 10x
506. 16:20your business [music] by getting this
507. 16:2230% will never go it will never go to
508. 16:25300%. It's never going to happen. But
509. 16:27you can 10x your inputs. You can do
510. 16:30more.
511. 16:31You can do more and you can send more in
512. 16:34and then that will for sure increase
513. 16:36your output even if your relative return
514. 16:38goes down. If I had the choice between
515. 16:40spending $10,000 and making a hundred
516. 16:43back, 10 to one, [music] or spending a
517. 16:46million dollars and getting $2 million
518. 16:48back, two [music] one, I would take a
519. 16:50million in to get two back every day of
520. 16:52the week and twice on Sunday. Why?
521. 16:54Because it's more. It's still more. It's
522. 16:57absolute returns, absolute output. When
523. 17:01you're thinking about yours, and I'll
524. 17:02bring this to business now, right? I
525. 17:04mean, I've been talking about business,
526. 17:05but like more to business, more
527. 17:06tactical. We have our core four, right?
528. 17:08We have our four ways of getting
529. 17:09customers. We've got our warm outreach,
530. 17:11we've got our cold outreach, we've got
531. 17:13content, and then we've got [music]
532. 17:15paid, right? We have paid ads. These are
533. 17:18the only four things that you can do.
534. 17:20How do we do more? Right? So, from an
535. 17:23ads perspective, we'll start here. More
536. 17:25can simply mean more money. It could
537. 17:27also mean more creative. It could mean
538. 17:30more platforms. All of these things are
539. 17:32versions of more. And so I will
540. 17:35typically do this in reverse order of
541. 17:37risk, right? And so that means that I
542. 17:39think that if I'm going to if I put this
543. 17:40in order for paid, it'd be like, okay,
544. 17:42well, the first I'm going to do is make
545. 17:43more creative. If I have more creative,
546. 17:44I have a higher chance of getting more
547. 17:46winners. If I have more winners, then
548. 17:48I'm going to get better rows, and I'll
549. 17:49be able to scale to more markets, more
550. 17:50avatars, more segments. Great. So that's
551. 17:52the first more I'm going to do. The
552. 17:53second more I'm going to do is I'm going
553. 17:55to say I'm going to spend more money on
554. 17:56ads. How can I take my $100 a day and
555. 17:59spend it for $1,000 a day? What stops me
556. 18:01from doing that? And then third, if I do
557. 18:03step one and step two and I make way
558. 18:04more creative and I spend more money,
559. 18:05then at that point I say, okay, what now
560. 18:07that I built this machine that can
561. 18:09create 10 times the [music] the creative
562. 18:11volume, how do I do this within the
563. 18:13context of Instagram or how do I do this
564. 18:16in context of Tik Tok or how to do this
565. 18:17in the context of X, right? Each of
566. 18:19these platforms. So some of you guys
567. 18:20don't know this, but for the launch, for
568. 18:22the money models launch, this puppy,
569. 18:24right? So for this guy, the reason we
570. 18:26were able to do 105 point whatever
571. 18:28million at the launch is because we
572. 18:31advertised so much, right? So we did I
573. 18:34think 2,000 plus ads before the 6 weeks
574. 18:38out began. We had banked those 2,000 at
575. 18:412,000. Like count to 100 and then do
576. 18:44that 20 times. And if you count it, it'd
577. 18:46be like, "Wow, this is really boring."
578. 18:47That's how long it takes to count to
579. 18:492,000. We made 2,000 [music] ads, which
580. 18:51takes significantly longer than counting
581. 18:53to 2,000. And so this is what people
582. 18:55dramatically misunderstand is the amount
583. 18:57of work it takes to do more. Because
584. 18:59then I can say, "Well, my editor, I only
585. 19:00have five editors. They can only do five
586. 19:02ads a day each and that's 25 ads a day
587. 19:04is all we can put out." Well, if I got
588. 19:06to 2,000 ads, do I think that I would
589. 19:08have a higher likelihood of hitting this
590. 19:10big goal? Yes. What would it take? So,
591. 19:12it turned out, we did the math, it took
592. 19:1415 editors. And so, that means that we
593. 19:16had to contract 10 more to do the
594. 19:18editing. What does that cost? A lot less
595. 19:20than $ 105 million. So, we did it. So we
596. 19:24figure out what would it take to get
597. 19:25this big goal in terms of volume and
598. 19:27then what are the resources required to
599. 19:29do that and then is it worth it and most
600. 19:32times the answer is a resounding yes not
601. 19:34a small yes a big ass yes yes and so
602. 19:37[music] then we say then what's stopping
603. 19:39us and the answer is almost always
604. 19:41nothing just do [music] more now that's
605. 19:43how I would attack paid from a more
606. 19:45perspective right from a content
607. 19:46perspective it's the same thing in terms
608. 19:48of scaling editors now one of the
609. 19:49interesting things about doing more is
610. 19:51that doing more is so painful [music]
611. 19:53It's so much work. It's a lot of work to
612. 19:55do more. But that pain forces another
613. 19:58forcing function which is you will try
614. 20:00and minimize how much work you're doing
615. 20:01or at least you will try and get more.
616. 20:03If you have a fixed work like I'm going
617. 20:04to do 100 calls no matter what. I'm
618. 20:06going to do 100 minutes of content no
619. 20:07matter what. What do you think happens?
620. 20:09[music] You think, man, it'd be really
621. 20:11nice if I got higher pickup rates. So
622. 20:12then you start looking at your time and
623. 20:14saying, you know, people pick up more in
624. 20:15the afternoons for my market or they
625. 20:16they pick up really hot between 5:00 and
626. 20:187:00 a.m. in this particular market,
627. 20:20whatever, assuming you, you know, follow
628. 20:22the law, whatever. You start getting
629. 20:23better. You start looking at the data.
630. 20:25You start saying, go like, if I'm going
631. 20:26to do all this work, I might as well
632. 20:28make it worth it, right? But you have to
633. 20:30put yourself in that pain, that pain of
634. 20:32the lack of leverage, the pain of it
635. 20:35being um inefficient. But you have to
636. 20:38keep it there because what happens is
637. 20:39otherwise is like the weak-minded, the
638. 20:41weak of will do a hundred for one day or
639. 20:44two days in a row and they'll say, "I
640. 20:45didn't get the result I wanted." It's
641. 20:46like, "Duh, of course you didn't. You
642. 20:49didn't do nearly enough." And so this is
643. 20:52why I think people stay small. They get
644. 20:54obsessed with the margin. They get
645. 20:56obsessed with the relative returns. They
646. 20:58get obsessed with the optimization. But
647. 21:00sometimes you just have to do a violent
648. 21:02unreasonable amount of work for an
649. 21:04extended period of time because part of
650. 21:06volume is the consistency associated
651. 21:09with it. We couldn't make 2,000 ads in a
652. 21:11day. We had to make 25 or 50 ads and we
653. 21:13had to do it every single day for
654. 21:15hundreds of days in a row to get to the
655. 21:17point where we could make 2,000. Right?
656. 21:19And that was before we started. We ended
657. 21:21up what with 3,000 2,800. We made 2,800
658. 21:24ads. But we're like, man, I can't I
659. 21:26can't scale my ads past a certain you
660. 21:28don't have enough. We spent 500,000 a
661. 21:30day per day at the end of the launch the
662. 21:33last few days and you can only get to
663. 21:35that level of scale with an equal amount
664. 21:37of scale in terms of the inputs. This is
665. 21:39probably my favorite volume story that I
666. 21:41have because it was so real for me. I
667. 21:42paid somebody who was, you know, way
668. 21:44bigger than me at the time in terms of
669. 21:46uh like content and all that stuff early
670. 21:47on in my career. And I was like, "Hey,
671. 21:49you know, what should I do?" And he was
672. 21:51like, "Dude," he's like, "You just
673. 21:53need," he said, "Pull up your pull up
674. 21:54your LinkedIn." And I was like, "Okay."
675. 21:56He said, "Pull up my LinkedIn." and he
676. 21:58had made 10 posts that day and I had
677. 21:59made one. He was like, "Okay, pull up
678. 22:00Instagram. Pull up your Instagram." He
679. 22:02had made three. I hadn't even made one
680. 22:04that day. And then he said, "Pull up
681. 22:05your YouTube. Pull up my YouTube." And
682. 22:06once we did this two or three times, I
683. 22:07was like, "I get it. I get [music] it. I
684. 22:09just need to do way more." He's like,
685. 22:10"Yeah, dude. Like way more." And so we
686. 22:13as humans often think, "I need to do
687. 22:14twice as much. I need to do three times
688. 22:16as much." We [music] can't fathom what
689. 22:18it would mean to do a hundred times as
690. 22:20much or a thousand times as much. But if
691. 22:23you want to beat every [ __ ] human
692. 22:24being in the arena to the battle of the
693. 22:26death, wouldn't you want to leave no
694. 22:28doubt? Wouldn't you want to make [ __ ]
695. 22:30sure that you were going to win? Because
696. 22:32here's the thing. If you see someone
697. 22:33ahead of you, a lot of people get
698. 22:35triggered by this. They see someone
699. 22:36ahead of them, they throw rocks at them
700. 22:37like because it makes them feel bad at
701. 22:39themselves. I strongly encourage you not
702. 22:41to do that. If someone is doing better
703. 22:42than you, they are better than you
704. 22:44[music] in some way. And in that, you
705. 22:47can learn of them. Real. So, when
706. 22:49someone's doing better, if you're like,
707. 22:50I got to beat them. You look at their
708. 22:52volume, right? And let's say that
709. 22:53someone's doing three times this volume
710. 22:54that you can see, right? What do you do?
711. 22:56Do you do three times the volume? No.
712. 22:59Because now you're just matching them.
713. 23:01You need to do 10 or 20 or 30 times the
714. 23:04volume. Cuz not only that, they're doing
715. 23:06volume that you can't see. You're just
716. 23:08judging on the volume you can see. And
717. 23:09so, if you want to leave no doubt, it's
718. 23:10like, not only if I did the same amount
719. 23:12of work as that guy, I'm always behind.
720. 23:14So, I got to do more work to catch up,
721. 23:16but that's just based on what I can see.
722. 23:18I might have to do more more to make
723. 23:20sure that I accommodate for the things
724. 23:21that I can't see. And so I think I would
725. 23:23ask yourself the question, if I knew
726. 23:25beyond a shadow of a doubt that if I
727. 23:26could do 100 times more than I'm
728. 23:27currently doing, I would hit the goals
729. 23:28that I have, then I would then ask the
730. 23:30question, great, what resources are
731. 23:32required? And then following up to that,
732. 23:34is it [music] worth it? And if the
733. 23:36answer is yes, what's stopping