The 4 Highest Value Skills That Exist On Earth Ep 354

Alex Hormozi, the host of the podcast and owner of acquisition.com, discusses the four scarcest and most valuable skills that can lead to building enormous wealth, drawing from the experiences of top billionaires. These skills include the ability to raise and multiply money, capture and multiply attention, save people time at no incremental cost, and influence behavior at a mass scale without additional costs. Hormozi emphasizes that these skills are not binary but can be developed to varying degrees of mastery, and they are pivotal in creating leverage through labor, capital, technology, and media. He concludes by encouraging listeners to assess and develop these skills to avoid poverty and achieve financial success.

• The concept of a cornerstone skill is vital to understanding how billionaires build their wealth.
• Top 100 or top 50 billionaires share common skills that have been crucial to their financial success.

"It is the cornerstone upon which every single top 100 or even top 50 billionaire has built their wealth."

This quote emphasizes the importance of certain skills as the foundation for the massive wealth of the most successful billionaires.

• The channel aims to teach how to acquire more customers, increase profits per customer, and retain them.
• The channel shares failures and lessons learned in the journey of wealth building.
• Alex Ramosi created the channel to help people avoid financial struggles.

"Welcome to the game where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe in."

This quote introduces the channel's focus on business growth strategies and learning from past mistakes, with an invitation for engagement.

• Alex Ramosi introduces himself and his business portfolio, Acquisition.com.
• Acquisition.com generates about $85 million annually.
• The channel's content is driven by a desire to prevent viewers from being financially unsuccessful.

"This video, I'm going to walk you through the four scarcest, highest value skills that exist on earth... my name is Alex Ramosi. I own acquisition.com. It's a portfolio of companies that is about $85 million a year."

Alex Ramosi introduces himself and his qualifications, establishing credibility for the financial advice he is about to share.

• The scarcity of certain skills is due to their potential for impact when executed at maximal scale.
• Skills are not binary but exist on a spectrum of mastery.
• The extent of one's skill determines their level of success.

"The reason I make this channel is because a lot of people are broke and I don't want you to be one of them... when I am saying these are the scarcest skills, it is because of two major things... these are not binary skills. It's not I have it or I don't have it, but it's to what extent do I have it or to what degree do I have it? How masterful am I in this skill?"

This quote explains the mission behind the channel and the nuanced nature of skills, highlighting the importance of skill mastery rather than mere possession.

• The ability to raise and multiply money is a key skill for wealth creation.
• This skill involves acquiring capital from others and investing it to generate higher returns.
• Mastery of this skill allows for the creation of fortunes, especially when handling large sums of money at scale.

"The first and easiest one for everyone to understand... is the ability to raise and multiply money, which means you have the skill of getting money from other people. And you can allocate that money in a way that it multiplies at a higher rate than anything else... If you have that skill, you can create endless, unlimited fortunes, all right?"

The quote outlines the first high-value skill, which is the ability to raise and multiply money, a fundamental aspect of wealth accumulation.

• The second skill is the ability to capture and multiply attention.
• This skill is exemplified by media figures and tech entrepreneurs who build empires by attracting and expanding their audience or user base.
• Attention is a valuable commodity, and the skill to harness it can lead to substantial wealth, as seen with figures like Joe Rogan and Mark Zuckerberg.

"Number two is the ability to capture and multiply attention, all right? And so think about a Joe Rogan, for example, right? He's able to build this empire that he has because he's able to capture attention and multiply attention, which is a function of media. Mark Zuckerberg, he was able to capture attention, get people to look at his app, and then tell their friends, multiply attention."

This quote describes the second high-value skill, focusing on the power of attention in wealth creation and citing Joe Rogan and Mark Zuckerberg as examples of individuals who have mastered this skill.

• Capturing and multiplying attention is considered a scarce and high-value skill.
• This skill is crucial for financial success; lack of it may lead to not making desired money or poverty.
• These skills are learnable but not traditionally teachable.
• The skill involves not only capturing attention but also using it to organically multiply further attention without additional cost.

"The ability to capture and multiply attention is the second scarce and high value skill that exists."

This quote by Alex Ramosi emphasizes the importance of the skill to capture and multiply attention as a key driver of success and wealth creation.

"You have to be able to multiply it at no incremental cost to you. That's how you get unlimited leverage."

Alex Ramosi is highlighting the importance of multiplying attention without incurring additional costs, which leads to unlimited leverage and potential for growth.

• The ability to return time to others at no incremental cost and at scale is a valuable skill.
• Saving time for a large number of people can lead to significant wealth creation.
• The focus should be on automating common time-consuming tasks using technology or software.
• This skill involves reducing the effort and sacrifice in people's lives, making it a sellable commodity to a wide market.
• Google is an example of a company that saved time for users, which contributed to its success.

"The ability to return time to other people at no incremental cost to yourself at scale."

Alex Ramosi is explaining how saving time for others without additional cost can create immense value and lead to becoming a billionaire.

"That is a way to build a fortune. That is a way to build billions and billions of dollars of wealth that is scarce."

Alex Ramosi is describing how the skill of returning time to others can lead to the accumulation of significant wealth because it is a scarce and highly valued ability.

• The growth of content, such as a podcast, heavily relies on word of mouth.
• The host of the podcast does not use traditional advertising methods like ads, sponsorships, or sales.
• Sharing content on social media platforms is a common way for content to gain exposure and audience.

"The only way this grows is through word of mouth."

Alex Ramosi is stressing the reliance on word of mouth for the growth of his podcast, indicating that personal recommendations and shares are the primary means of increasing its audience.

• Alex Ramosi emphasizes the importance of sharing the podcast with others.
• Sharing could be through a review or a post.
• This act is seen as a way to generate good karma for entrepreneurs.

"To pay it forward to whoever showed." "So, if it was a review, if it was a post, most, if you do that, it would mean the world."

These quotes highlight the concept of paying it forward, where listeners are encouraged to share the podcast in the same way they discovered it. This sharing is not only a gesture of appreciation but also a way to support other entrepreneurs.

• Alex Ramosi discusses the power and value of influencing others' behavior at scale without incurring additional costs.
• Historical figures like Jesus and Thomas Jefferson are cited as examples of individuals who had massive influence on others.
• Changing people's beliefs can lead to significant changes in behavior.
• Influencing at scale can lead to changing the world and also to personal wealth.
• Persuasion is linked to aggregated power and is seen as a high-value skill.

"Number three, the fourth high value, scarcest skill on planet Earth is to be able to influence the behavior of others at mass scale at no incremental cost to you."

This quote introduces the concept of influence as a scarce and valuable skill, comparing it to the abilities of historical leaders who have changed the world through their ideas and influence.

"And so if you change the decision making calculus, you change all of the downstream behaviors that happen as a result."

Alex Ramosi explains that by altering how people think and make decisions, their subsequent actions and behaviors will also change, indicating the profound impact of influence.

"If you have the ability to massively influence other people at scale, at no incremental cost to you, you have the fourth scarce high value roi skill that exists."

The quote suggests that the ability to influence at scale without additional cost is a rare skill with a high return on investment, making it highly valuable for both world change and personal gain.

• Alex Ramosi connects the ability to influence with the concept of leverage.
• There are four types of leverage: labor, capital, giving time back, and influence.
• Each type of leverage can be correlated with ways to create wealth.
• The ability to leverage labor and actions of others towards one's goals is a form of power.
• Multiplying capital and giving time back are also high-value skills.

"So right now, mosey nation, what it do. If you're looking for ways to increase your wealth, you can see that all four of these things are corollary to the four types of leverage that exist."

Alex Ramosi ties together the themes of wealth creation and leverage, indicating that understanding and using different forms of leverage is key to financial success.

"These are how fortunes are created. Leverage, number one, is on labor and actions on behalf of other people towards your goals."

The quote explains that leveraging the labor of others is a primary method by which fortunes are built, emphasizing the importance of directing others' actions towards one's own objectives.

• Technology is used to automate luxury, which is linked to convenience, effort, and sacrifice.
• The aim is to save people time by reducing the effort and sacrifice required in their daily activities.
• Scale is created by giving back time to people at no incremental cost through technological advancements.

"All technology automates luxury. And luxury is typically a function of convenience, effort, and sacrifice. And so we look at the places where people spend time and spend effort and sacrifice, and we return it back to them at no incremental cost. That is how you create scale using technology. And the key resource we're giving people back is time."

This quote explains that the purpose of technology in the context of luxury is to automate tasks that would otherwise require significant time, effort, or sacrifice, thereby creating value and scale by returning time to users.

• Media is used to capture and multiply attention through sensory impressions.
• The goal is to engage as many senses as possible to draw people into a particular "thing," which then leads to compounding effects.
• Media is seen as a substrate that conveys impressions, and the strategy involves capturing senses to amplify reach and influence.

"And so, using media and being able to multiply media via the capturing and multiplication of attention, because ultimately, media is just the substrate through which impressions are conveyed to other people, signals that they are interpreting through their senses. The idea is, how can we capture as many senses as we can and then get those senses to get other people plugged into our thing, and then in so doing, it will compound."

This quote highlights the concept of using media to capture attention and impressions, with the intent to engage sensory experiences to grow and compound the audience's engagement.

• Alex Ramosi emphasizes the compounding nature of skills, which are exponential rather than additive or multiplicative.
• Compounding skills include labor, capital, time, and attention, each of which multiplies and grows upon itself.
• The growth is quadratic, meaning the skills grow exponentially, and this principle should guide where individuals focus their efforts to create wealth.
• Self-assessment of skills is encouraged to determine mastery and directionality towards these compounding areas.

"And so one of the key notes to note about each of these four things that I just mentioned is that each of these skills compound. They are not multiplicative, they are not additive, they are not incremental. They are compounding, which means they are exponential in nature."

This quote underscores the importance of understanding the difference between various types of growth, emphasizing that the skills mentioned have a compounding, exponential effect.

• Alex Ramosi advises viewers to assess their skills in the context of labor, capital, time, and attention to determine their path to creating a fortune.
• The assessment of skills is not binary but rather a spectrum of mastery.
• The message is part of Alex's broader goal to educate and prevent people from being financially disadvantaged.

"And those, my friends, are where you focus your time if you want to create a fortune. And so you can look at your skill set right now and say which of these skills do I lack or which of these four buckets am I currently at least working somewhat directionally towards?"

This quote is a call to action for viewers to introspectively evaluate their skills related to labor, capital, time, and attention to identify their strengths and weaknesses in the context of wealth creation.

"And then we can again think this is not a binary checklist if I have the skill or I do not have the skill but to what degree, to what extent am I a master of this thing?"

This quote further clarifies that skill assessment is not about having or not having a skill but rather about the extent of mastery one has achieved, suggesting a more nuanced approach to personal development and wealth creation.

• Alex Ramosi expresses his motivation for creating content, which is to help people avoid financial struggle.
• He introduces himself and his achievements, reinforcing his credibility and connection with the audience.
• The sign-off is friendly and encourages the audience to continue striving for greatness.

"I make this channel because a lot of people broke and I don't want you to be one of them. I think I said this earlier but if I didn't my name is Alex Ramozi own all the dollars, things like that and I'll see you guys next video. Bye."

This quote reveals Alex Ramosi's altruistic reason for sharing his insights, aiming to educate his audience to achieve financial success and avoid poverty.