VOLUME Wins Every Time! | Alex Hormozi (4K) — Transcript

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1. 0:00Most small business owners have no idea
2. 0:02how much more volume the guys who are
3. 0:04ahead of them put out. I'm going to
4. 0:06write a conversation at the very
5. 0:07beginning of me deciding to make content
6. 0:08after I sold the company where I said,
7. 0:10"Hey, you know, I I really want to learn
8. 0:12this Instagram game and content game."
9. 0:14And so I talked to somebody who was a
10. 0:15big big influencer
11. 0:17and I said, you know, "Can you Can you
12. 0:19analyze my stuff and tell me what I'm
13. 0:20doing wrong?" And he said, "Dude,
14. 0:23you're not doing anything wrong. You're
15. 0:24just doing it too little."
16. 0:27That little compression process is the
17. 0:29only thing that separates very small
18. 0:30businesses from very large businesses.
19. 0:36So, volatility is a symptom of
20. 0:38insufficient volume. And so if you feel
21. 0:41like you're like, "Man, how
22. 0:42You know, I got a couple customers and
23. 0:43then, you know, the the leads stop
24. 0:45coming in." It's like, "Well, you're
25. 0:46doing insufficient volume. You're not
26. 0:48doing enough of the core four. We have
27. 0:49to post more content. We have to post
28. 0:51more ads. We have to do more reach
29. 0:53outs." Right? That's what we have to do.
30. 0:55And so if you think, "Okay, well, I've
31. 0:56been doing these reach outs and, you
32. 0:58know, no one's responding or things like
33. 0:59that." One we need to make sure that the
34. 1:00offer that we have is good, which I
35. 1:01think we started with the 5-hour thing.
36. 1:02I think it's a great first offer. But it
37. 1:04you know, under that assumption, if we
38. 1:05do this, I have a rule of 100, which is
39. 1:07that you do 100
40. 1:09per day. So that means you're doing
41. 1:11either 100 minutes that you're putting
42. 1:12into posting content and you post and
43. 1:14you post, to be very clear.
44. 1:16And you post.
45. 1:18You You spend $100 a day on ads
46. 1:20or you do 100 reach outs. And if you
47. 1:22want to be crazy, you can do all three.
48. 1:23And so in those in those in those
49. 1:24scenarios,
50. 1:26the key is that you have to keep going.
51. 1:27And so if you get, let's say you do the
52. 1:29rule of 100 and you get one sale a week.
53. 1:32Okay. Then if you want to That would
54. 1:34give you four sales a month roughly. If
55. 1:36you're like, "Man, I want to go from
56. 1:37four sales a month to to 16 sales a
57. 1:40month." The nice thing is that you
58. 1:41actually have a clear input-output
59. 1:42equation, which is that, "Okay, it cost
60. 1:44me 700
61. 1:46primary, you know, efforts to get one
62. 1:49sale." And so that volatility feels like
63. 1:52it's only one, but it's because you're
64. 1:53not doing enough. If I take that 700 and
65. 1:55do 700 per day,
66. 1:57then all of a sudden I'll be making one
67. 1:58sale a day. And fundamentally, that
68. 2:01little compression process is the only
69. 2:03thing that separates very small
70. 2:04businesses from very large businesses.
71. 2:06Most small business owners have no idea
72. 2:08how much more volume the guys who are
73. 2:10ahead of them put out. I remember I had
74. 2:12a conversation at the very beginning of
75. 2:13me deciding to make content after I sold
76. 2:14the company where I said, "Hey, you
77. 2:16know, I I really want to learn this
78. 2:18Instagram game um and content game." And
79. 2:20so, I talked to somebody who was a big
80. 2:22big influencer
81. 2:23and I said, you know, "Can you Can you
82. 2:25analyze my stuff and tell me what I'm
83. 2:26doing wrong?" And he said, "Dude,
84. 2:29you're not doing anything wrong.
85. 2:30You're just doing too little."
86. 2:32And so, he said he said, "Pull up your
87. 2:33Instagram." I pulled it up uh and I
88. 2:35think I was doing like a post every
89. 2:37other day or something like that. And
90. 2:38he's like, "Dude, I got four posts a
91. 2:39day." And I was like, "Whoa." And then
92. 2:41he said, "Pull up your LinkedIn." And I
93. 2:42I don't think I posted on LinkedIn. He's
94. 2:44like, "I got 10 posts a day." And he's
95. 2:45like, "Pull up your Pull up your
96. 2:46Twitter." At the time, now X. He's like,
97. 2:48I had nothing, right? So, he he went
98. 2:50side by side. He's like, "I'm putting
99. 2:51out 70 80 a day and you're putting out
100. 2:53one every other and you're complaining."
101. 2:54And I was like, "Got it."
102. 2:55>> Yeah.
103. 2:56>> And so, the Most people dramatically
104. 2:58underestimate the amount of volume that
105. 3:00is required. And that volume has a great
106. 3:02feedback loop for skill because you do
107. 3:04these iterations and you will suck.
108. 3:06>> Yeah.
109. 3:06>> And that is okay. And as long as you
110. 3:09like the process that I have for
111. 3:10improving any part of any system is just
112. 3:13do a tremendous amount of volume.
113. 3:14Let's say we do 100 whatevers. We look
114. 3:16at the top 10% of the ones that got the
115. 3:18highest response rate or the ones that
116. 3:19got the most views or the ads that got
117. 3:20the most clicks. We say, "Okay, what was
118. 3:22different about these top 10% compared
119. 3:24to the other 90?" And so, the next 100
120. 3:25we do, we say, "Let's just try and just
121. 3:27do the thing we did in the top 10%." We
122. 3:28do it again. And that continual
123. 3:30refinement process has been the key to
124. 3:32all the stuff that we've done. It's just
125. 3:34look at what worked, do more of that.
126. 3:35And so, if you were in the professional
127. 3:37bucket, that is more or less kind of the
128. 3:39approach that I would take to get that
129. 3:40first dollar.
130. 3:41>> Everyone needs to listen to that 15
131. 3:42minutes every day.
132. 3:44I'm not kidding. That was the most
133. 3:45amount of value I think has ever been
134. 3:47packed in the 15 minutes that I've ever
135. 3:50heard in my entire life. And I'm not
136. 3:51kidding. That is such brilliant,
137. 3:54brilliant advice.
138. 3:55Totally broken down step by step.
139. 3:58I mean, you could I mean, you could make
140. 4:00like 70 posts off of just the last 15
141. 4:01minutes. It was so no, and and I mean
142. 4:03that. I'm not just saying that because
143. 4:05right now as you're speaking, I've got
144. 4:06so many friends that I've got in my head
145. 4:08that are exactly at that point. And it's
146. 4:11either the volume that's messing them
147. 4:13up. It's either not having the plan to
148. 4:15how do you pitch and convert. Two
149. 4:17questions.
150. 4:18The first is, how do you stop being
151. 4:21scared of sucking?
152. 4:23>> Mhm.
153. 4:24>> Because a lot of my friends are scared
154. 4:25of sucking.
155. 4:26>> Mhm.
156. 4:27>> And the second one is, why are we so
157. 4:30uncomfortable selling?
158. 4:32>> Mhm.
159. 4:32>> And promoting and showing our work.
160. 4:35>> So, the first one, what's really
161. 4:36interesting about the question is that I
162. 4:38think that most people are actually very
163. 4:39okay with sucking. I think they're very
164. 4:41not okay with being judged for sucking.
165. 4:44And so, I think that at the at the
166. 4:46onset, we have to redefine success as
167. 4:49trying
168. 4:50and not as succeeding.
169. 4:52Uh or at least getting whatever desired
170. 4:54outcome there is. Because failure and
171. 4:55success are are salt and pepper. They're
172. 4:57married. They're the one one leads to
173. 4:59the next. And so, the idea is we want to
174. 5:01get as many failures out of the way as
175. 5:03fast as possible. And so, it's like we
176. 5:04want to pay down that failure debt as
177. 5:06again, as soon as we can. And so, the
178. 5:09the very tactical thing that I would
179. 5:10advise is
180. 5:12think about there's we think I don't I
181. 5:15don't want people to think that I'm a
182. 5:16failure. It's actually not people.
183. 5:17There's like two people that you hear
184. 5:19their voice in your head. And so, when
185. 5:21you actually get really clear on who
186. 5:23whose voice is that? Cuz I'll tell you
187. 5:25I'll tell you a real world example. So,
188. 5:26for me,
189. 5:27when I say this this sounds ridiculous,
190. 5:28but just but just to show you hopefully
191. 5:29how ridiculous whatever you think
192. 5:31sounds, I'll share one of mine.
193. 5:33So, when I was uh thinking about selling
194. 5:35my company, the the offer was for for
195. 5:3746.2 million, and I I was afraid that it
196. 5:42wasn't enough to impress the people that
197. 5:44I wanted to impress.
198. 5:46And so, and I had to figure that out. I
199. 5:48was like, I don't know. I mean, is it
200. 5:49worth it? Maybe I should hold on to it
201. 5:50longer and grow it more and I want, you
202. 5:52know, back and forth. And when I thought
203. 5:54more more about it, I was like,
204. 5:55actually, there's only one person whose
205. 5:57opinion I'm concerned about. And then
206. 5:59when I named it, when I was like, oh,
207. 6:02it's Tom?
208. 6:03Tom's the And like, I'm not even that
209. 6:05close with Tom. But Tom, my envisionment
210. 6:08of Tom judging my my my my exit as not
211. 6:12good enough for their approval, I was
212. 6:14like, wait, I'm letting Tom have this
213. 6:17much influence over my life?
214. 6:19That's absurd. And so, one of the big um
215. 6:22reframes that I have in my head is that
216. 6:23if you don't know why you believe what
217. 6:24you believe, it's not your belief, it's
218. 6:26someone else's. And so, if you can't
219. 6:27explain like, why am I not doing this?
220. 6:29If you can't actually explain it, it's
221. 6:30because there's someone else's voice
222. 6:32that is influencing you that you're not
223. 6:33aware of. And so, I try and
224. 6:34>> Name it.
225. 6:35>> Yeah, exa- The naming is the key part
226. 6:36because as soon as you see that, you're
227. 6:37like, Tom?
228. 6:39You're like, screw Tom. You're like, I'm
229. 6:40going to do this It's like, is is Tom's
230. 6:42approval worth more than the dream that
231. 6:45you want to pursue? And as soon as you
232. 6:47get that, you're like, well, hell no.
233. 6:48And then, you move forward. And I can
234. 6:50tell you just from from the other side
235. 6:52of this and I want to I want to be
236. 6:53really clear. I understand how scary it
237. 6:55is. It took me 6 months to quit my job.
238. 6:56And I I talked to my friend every single
239. 6:58day saying, this is the day, this is the
240. 6:59day, this is the day. And when I did
241. 7:01finally quit my job, I drove across the
242. 7:03country and I only called people from
243. 7:06home when I was already halfway across I
244. 7:08didn't tell anyone I was leaving because
245. 7:09I was so afraid of what they would say.
246. 7:11So, I say this as somebody who
247. 7:13absolutely gets it. But I just want to
248. 7:15tell you from the other side of it,
249. 7:17it's you know, this is a Layla quote,
250. 7:19not me, but it, you know, fear is a mile
251. 7:21wide and an inch deep.
252. 7:23And so, it looks like this vast ocean of
253. 7:24of like, I'm going to drown, but as soon
254. 7:26as you take the first step, you're like,
255. 7:27oh, this is a puddle.
256. 7:29And there's a quote from Jocko Willink
257. 7:30that I love that's recent that's been
258. 7:32top of mind for me, which is,
259. 7:34besides death,
260. 7:35all failure is psychological.
261. 7:38It's just when you
262. 7:39The longer you you about it, the more
263. 7:40you're like, wait, all failure is just
264. 7:43me drawing an arbitrary line in the sand
265. 7:45that I say anything that does not meet
266. 7:46the standard will force me to be upset.
267. 7:49That's it.
268. 7:50And so it's like, okay, well, if I don't
269. 7:51die, then I can keep going. And if I
270. 7:53don't die, then it means I can stand it.
271. 7:55>> Yeah. And I And I think a big part of it
272. 7:57when I'm listening to you is because
273. 7:59it's psychological,
274. 8:00let me know that it will happen. So I
275. 8:03remember when I put out my first video,
276. 8:04which I didn't tell anyone I was going
277. 8:05to do, I spent 2 years watching videos
278. 8:10before I made one and put one out.
279. 8:12And when I put out my first video, I
280. 8:14remember my friend saying to me, you
281. 8:16talk too fast, the music is too loud,
282. 8:19it's edited badly.
283. 8:20Cool. Like it wasn't received with
284. 8:22praise. Now, I didn't
285. 8:25think about that too much. And now if I
286. 8:27go back to advise someone, I'd say
287. 8:29anticipate that.
288. 8:31Because if you anticipate it, then it's
289. 8:33okay. Then it's inch deep. Right? You're
290. 8:36like, oh, okay. Well, yeah, they're
291. 8:37probably going to tell me that the
292. 8:38editing wasn't great or whatever. But if
293. 8:41I followed Alex's advice, maybe I have
294. 8:43sent it to a couple of people, you know,
295. 8:45not friends, but people who actually
296. 8:46know what they're doing. I've got some
297. 8:48insight. I've studied it well enough and
298. 8:50maybe I'll avoid some of them, but guess
299. 8:51what? I won't avoid all of them.
300. 8:52There'll still be someone who criticizes
301. 8:55the tone, what I'm wearing, how I look,
302. 8:56whatever it is. And as soon as you know
303. 8:58that, you go, oh, that's all it is.
304. 9:01Someone's going to look at it and be
305. 9:02like, yeah, I'm not sure. And it's like,
306. 9:04oh, wait, their reaction doesn't change
307. 9:07my reality. Like their reaction will
308. 9:09always be there. And I think what we're
309. 9:10trying to do, going to your earlier
310. 9:11point as well, is we're trying to avoid
311. 9:13the reaction. We want to create
312. 9:15something that has no negative reaction.
313. 9:20And there is not a single person on
314. 9:22planet Earth that has created a song, a
315. 9:24movie, a podcast, or whatever it may be
316. 9:27that has had no negative reactions. So,
317. 9:29>> I've so so many quick thoughts on this.
318. 9:31So, number one is that if you do
319. 9:33nothing, people will criticize you. If
320. 9:35you do something, people will criticize
321. 9:36you. So, criticism is a fixed cost,
322. 9:38period.
323. 9:39Number two, it takes about 20 hours to
324. 9:42become proficient in just about
325. 9:44anything. You want to play guitar, like
326. 9:45proficient in just about anything. It
327. 9:47just takes people 10 years to get the
328. 9:50first 20 hours. And that's a huge a huge
329. 9:53issue.
330. 9:54The third is that when you're thinking
331. 9:55about feedback is
332. 9:57one, not all feedback is created equal.
333. 9:59You don't want to listen to people who
334. 10:00are closest to you.
335. 10:02You want to listen to people who are
336. 10:02closest to your goals.
337. 10:04And so, listen to the people who are
338. 10:06already at your goals, who already have
339. 10:07achieved those goals, and listen to
340. 10:08their feedback because I'll say for
341. 10:10example for me, like if I if I I mean I
342. 10:12rarely do, but if I post anything of me
343. 10:14at the gym, the only people who comment
344. 10:15are people who are smaller than me.
345. 10:18No guy who is bigger than me ever has
346. 10:21you know, about my you know, my fitness
347. 10:22stuff.
348. 10:23And so, to the same degree, anybody
349. 10:25who's an who's a real entrepreneur is
350. 10:26going to be like, "Hell yeah, man. You
351. 10:28got out there. Oh, of course you failed.
352. 10:29Obviously you failed, but that's okay."
353. 10:31Right? Everyone falls the first time,
354. 10:32right? From from The Matrix. And so,
355. 10:34expect failure. And I think that if you
356. 10:37can play it out, the there's a there's a
357. 10:39really wonderful stoic frame around
358. 10:40this, which is the the frame of the
359. 10:41veteran, which is if you were to imagine
360. 10:44whatever bad experience occurs happening
361. 10:46a thousand times more in a row, how
362. 10:48would you feel on the thousandth time?
363. 10:51And if that's how you're going to feel
364. 10:52on the thousandth time with the exact
365. 10:54same condition, you might as well feel
366. 10:55that way today.
367. 10:56And this has just been a really like a
368. 10:57like if you're like, "Man, I hate
369. 10:58traffic." It's like, "Well, let's assume
370. 11:00traffic is a constant and it happens for
371. 11:01the next thousand days." You'll probably
372. 11:02be like, "Well, it's just how it is."
373. 11:04Right? And so, this is just how it is.
374. 11:05That's the feedback that you're going to
375. 11:06get from videos. And it's going to keep
376. 11:07happening. And it's okay.
377. 11:09>> Yeah.