I Don't Read Books... I Study a Few Ep 447

In this episode, the host emphasizes the value of learning through action and targeted problem-solving over indiscriminate consumption of educational content. He critiques the common practice of reading a book a week as ineffective, likening it to "mental masturbation" and stresses the importance of discernment in choosing what to learn next. The host, who is building a billion-dollar venture with acquisition.com, shares his own journey, revealing that he gained 99% of his knowledge from hands-on experiences rather than formal education or high-ticket masterminds. He advocates for executing over accumulating knowledge and encourages entrepreneurs to focus on filling skill gaps pertinent to their goals. The host also requests listeners to help spread the word about the podcast to support more entrepreneurs.

• Practical experience is the primary source of learning for Speaker A.
• Mastermind groups provide context and highlight areas of deficiency rather than directly solving them.
• Speaker A emphasizes the importance of applying knowledge in real-world scenarios.

"99% of the stuff I learned, I learned from doing."

This quote underscores the value Speaker A places on experiential learning over theoretical knowledge. Learning by doing has been the most effective method for them.

• Speaker A is in the process of building a billion-dollar venture with acquisition.com.
• There is a desire to document the entrepreneurial journey, inspired by the lack of such documentation from business icons like Bezos, Musk, and Buffett.

"I'm trying to build a billion dollar thing with acquisition.com."

Speaker A is candid about their ambitious business goal, indicating the scale and seriousness of their entrepreneurial efforts.

• Speaker A clarifies a common misconception that they read a lot of books.
• There is a preference for targeted reading, focusing on specific problems that need to be solved.
• Speaker A feels that reading without application is akin to mental masturbation, suggesting it is unproductive.

"I've bought a lot of books. I don't read many books."

This quote reveals Speaker A's selective approach to reading, prioritizing quality and relevance over quantity.

• Speaker A adopts a targeted approach to learning, diving deep into subjects that address immediate problems.
• There is skepticism about the value of reading a book a week without applying the knowledge gained.

"It's because I will read in targeted manners around problems that I need to solve."

Speaker A explains the rationale behind their reading strategy, which is to acquire knowledge that can be immediately applied to solve current issues.

• Discernment in education is crucial for determining what to learn next.
• Speaker A suggests a sequence for business success: having something to sell, finding people to discover it, and learning how to sell it.
• Knowing what to learn and executing that knowledge is key to making money.

"The one thing that you will need is the discernment to determine what thing you need to learn next."

This quote stresses the importance of knowing which skills or knowledge areas to focus on next in order to progress effectively in business and education.

• Speaker A is questioned often about the resources they used to gain their knowledge.
• There is an implication that expensive coaching and courses have been part of Speaker A's learning journey, but the real value may lie in the application of knowledge rather than the resources themselves.

"Right. Can you just give me a list of all the courses that you ever did?"

This quote indicates that people frequently seek a simple list of resources, hoping to replicate Speaker A's knowledge acquisition, but the speaker hints that the process is more complex and personalized than just taking courses.

• The speaker emphasizes the value of hands-on experience in acquiring knowledge.
• Masterminds and workshops offer context and perspective rather than direct solutions.
• Identifying deficiencies is a critical outcome of participating in learning groups or events.
• The responsibility to address and solve one's own problems is highlighted.
• The importance of focusing on areas that need improvement rather than over-reinforcing strengths is discussed.

"99% of the stuff I learned, I learned from doing, all right?"

This quote underscores the speaker's belief that the majority of their learning came from active engagement and practical experience, not just passive instruction.

"And so what we are paying for and what we are buying is perspective. It's context, and that's what most people lack, real talk."

Here, the speaker explains that the true value of masterminds and similar experiences lies in gaining new perspectives and understanding one's own gaps in knowledge or skills.

"But the real thing that it gives you is the ability to identify what your problems are and then it's up to you to solve them because basically no one's going to do the work for you."

The speaker stresses that while educational experiences can help identify problems, the individual is responsible for putting in the effort to solve them.

"If you already have copywriting brick, you don't need to put six more bricks underneath of it. You got that down. You have this big hole here. Fill that hole and you'll be able to get the dollar across the bridge."

This metaphor illustrates the concept of focusing on areas of deficiency rather than over-improving on strengths that are already well-developed.

• The speaker highlights the use of targeted books, articles, and YouTube videos as primary sources of learning.
• The majority of the speaker's foundational knowledge was self-taught through these resources.
• The speaker has a strong belief in the power of self-directed learning and its role in their success.

"Besides that, I read targeted books and I read articles and I watched YouTube videos, which I would say is still the vast majority of what I learned is the vast majority of what got me started, I learned from doing."

This quote indicates that in addition to learning by doing, the speaker also engaged in selective reading and viewing of educational content to further their knowledge.

• The speaker requests support for the podcast by asking the audience to spread the word.
• They emphasize the impact of sharing knowledge and helping entrepreneurs succeed.
• The speaker does not run ads or sell products, making audience support crucial for the podcast's growth.

"And so the only ask that I can ever have of you guys is that you help me spread the word so we can help more entrepreneurs make more money, feed their families, make better products, and have better experiences for their employees and customers."

This quote reflects the speaker's desire to foster a supportive community that contributes to the success of entrepreneurs through the dissemination of the podcast.

• The speaker shares their initial ignorance about the digital marketing space.
• They learned fundamental concepts like sales, copywriting, and affiliate marketing from a mastermind.
• The speaker acknowledges that the audience may already be familiar with these terms, highlighting their own learning journey.

"I learned what this digital marketing space was. I didn't even know it existed. And so I learned what the term sales meant. I didn't even know what this."

This quote shows the speaker's initial lack of awareness about digital marketing and their process of discovering and understanding its basic components.

"I went to a mastermind. YouTube barely existed then. Anyways. I went to that mastermind and I learned some of that stuff."

The speaker recounts attending a mastermind as a pivotal moment in their education, where they were introduced to key digital marketing concepts.

• The speaker discusses investing in a workshop to acquire specific skills.
• They mention the cost of the workshop, implying a significant investment in their education.

"And then I bought a $3,000 workshop on how to run Facebook ads for a weekend. And that was a lot of"

This incomplete quote suggests that the speaker made a considerable financial investment in a workshop to learn about running Facebook ads, indicating the value they place on specialized training.

• Initially struggled financially and did not earn over the weekends.
• Understood the conceptual workings of running ads and online marketing.
• Learned to use ClickFunnels and the importance of self-education in building landing pages.
• Overcame the fear of learning a new skill by dedicating time to replicate an existing page.
• Discovered that skills can be learned more easily than anticipated, and the importance of taking the first step.

"I didn't make any money over the weekend. And that's the thing, is that you can't expect the person to be a savior. But I figured out enough to understand how it worked conceptually."

This quote emphasizes the realization that financial success is not guaranteed and the importance of self-reliance and understanding the basics of a business concept.

"Replicate before you iterate. I'm just going to clone this page on this builder."

The speaker highlights the learning strategy of copying an existing model (replication) before attempting to make original changes (iteration), which simplifies the learning process.

"If you just start pulling thread, you start pulling the corner, all of a sudden your next step gets a lot clearer to you after you make the first step."

The quote metaphorically describes the process of starting to learn something new and how the path becomes clearer as you progress.

• Worked for free to gain practical experience and applied existing skills in fitness and nutrition.
• Recognized the importance of having valuable skills to offer in an apprenticeship situation.
• Understood the concept of one's time being too valuable to be given away without reciprocal value.
• Learned the operations of a gym by working extensive hours and later used this knowledge to start his own gym.

"I worked for the guy for free for three months, and you're like, alex, I'll work for you for three months. The difference was the skill set that I had applied there."

This quote reflects on the speaker's decision to work for free, leveraging their existing skills to provide value and gain experience.

"Your free is too expensive. It's overpriced."

The speaker conveys the idea that even free work can be costly if it consumes valuable time without providing sufficient value in return.

"I showed up at the gym at 04:00 a.m. Because that's when he showed up. And he worked till four. So he worked 12 hours a day, and I worked with him."

The quote illustrates the speaker's commitment to learning and the willingness to match the work hours of a mentor to gain practical experience.

• Attended the Traffic and Conversion Summit to expand knowledge on marketing and clickfunnels.
• Networking and learning from industry events contributed to the speaker's business education.

"I went to traffic and conversion summit. That's when I learned about clickfunnels, and that's how I started my first gym."

The speaker shares how attending a specific summit provided them with the knowledge and inspiration to start their first gym, highlighting the value of learning from others and networking.

• Initially gained interest in direct marketing after learning about web pages.
• Engaged in extensive reading, specifically focusing on free marketing books.
• Emphasized the importance of reading books relevant to one's industry or professional goals.

I read almost all of those, you know, those free books people give away. I read all of them, like, all of the guys books, which is why I'm so passionate about books for me...

The speaker expresses their deep engagement with marketing literature, highlighting the value they place on targeted reading for professional development.

• Adopts a targeted approach to reading, focusing on specific segments relevant to the industry of interest.
• Contrasts this with reading a broad range of topics, suggesting a strategic approach to learning.

If I'm trying to get context on an industry, I'm only reading in a very specific segment.

This quote underlines the speaker's strategy of focused learning to gain in-depth knowledge in a particular field rather than a broad, unfocused approach.

• Paid for one-on-one coaching to learn about Facebook ads, including advanced techniques like pixels and retargeting.
• Recognizes the value of investing in personal education to acquire specific, high-demand skills.

And then I think the next thing I did was I paid a guy, one on one, $750 an hour to teach me how to run Facebook ads.

The speaker reflects on their decision to invest in specialized training, emphasizing the importance of learning from experts to gain practical skills.

• Joined a mastermind group without having an online business to learn about the online marketing industry.
• Gained insights into digital products, information, and educational materials through the mastermind.

And then from there, I joined Russell's mastermind, and I didn't even have an online business.

The quote indicates the speaker's proactive approach to learning, seeking knowledge and connections in the online marketing space even before starting their own business.

• Credits exposure to successful individuals with broadening their perspective and teaching them to think in larger increments.
• Believes that thinking big can lead to significant life changes by focusing on high-value opportunities.
• Discusses the difference in mindset between children of wealthy versus less wealthy families.

If you can do that, you can change your life because you stop paying attention to stuff that's small potatoes.

The speaker emphasizes the transformative power of thinking on a larger scale, suggesting that it can lead to more significant achievements and a shift away from minor concerns.

• Clarifies misconceptions about wealth and opportunity, explaining that perspective and decision-making are key.
• Rich individuals are portrayed as focusing on high-leverage opportunities rather than small-scale ventures.

The biggest difference between rich dads and poor dads is that rich dads teach their kids to think in bigger increments.

This quote explains the speaker's view on how wealthy individuals educate their children to aim for substantial opportunities, shaping their decision-making processes.

• Admits to not purchasing a lot of expensive information but values the high-ticket items and experiences they did invest in.
• Advocates for buying time from experts, considering it a worthwhile investment.

Things that were high ticket, but the ones that I did buy, and that was, I think, the last thing I really bought that was expensive. And then I'll buy hours from people.

The speaker reflects on their selective but strategic investment in high-quality information and expertise, reinforcing the value they place on learning from those with more experience.