The 4 Highest Value Skills That Exist On Earth Ep 521

Alex Hormozi, owner of acquisition.com, elucidates the four pivotal skills that underpin the wealth of the world's top billionaires. These skills, which must be executed at scale and with mastery, include the ability to raise and multiply money, capture and multiply attention, save people time at no incremental cost, and influence others' behavior en masse. Hormozi emphasizes that these skills are not binary but exist on a spectrum of proficiency. Each skill leverages a different resource—capital, attention, time, and labor—compounding their effects exponentially to create fortunes. Hormozi's message is clear: mastering these skills can break the cycle of poverty, and assessing one's proficiency in these areas is crucial for wealth generation.

• Alex Hormozi introduces the topic of the four scarcest, highest-value skills.
• These skills are foundational to the success of top billionaires.
• Hormozi emphasizes the importance of mastering these skills at a maximal scale and to a high degree.

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

This quote underlines the significance of the skills discussed, as they are the foundational elements upon which the most successful billionaires have built their fortunes.

The quote emphasizes the universal importance of these skills in achieving extreme levels of wealth.

• Alex Hormozi introduces himself and his business, acquisition.com.
• He states his motivation for creating content is to help others avoid financial struggle.

"My name is Alex Hormozi. I own acquisition.com. It's a portfolio of companies that is about $85 million a year, and I have nothing to sell you."

Alex Hormozi provides his background to establish credibility with the audience, indicating his experience in building successful businesses and his intention to share knowledge without selling anything.

The quote serves to establish trust and rapport with the audience by assuring them of his intentions and qualifications.

• Hormozi explains that the skills are not binary but exist on a spectrum of mastery.
• The skills must be executed at maximal scale for optimal wealth creation.

"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 clarifies that the possession of a skill is not enough; the level of expertise and mastery is crucial.

The quote highlights the importance of not just having a skill but excelling in it to a significant degree.

• The first skill involves acquiring capital from others and growing it effectively.
• Mastery of this skill allows for the creation of unlimited wealth.

"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."

This quote describes the first skill, emphasizing the ability to not only gather funds but also to invest or allocate them in a manner that yields substantial growth.

The quote explains the dual aspect of this skill: raising capital and then increasing its value through astute financial management.

• The second skill is about gaining people's attention and leveraging it.
• Examples include Joe Rogan's media empire and Mark Zuckerberg's success with Facebook.

"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."

This quote identifies the second skill and provides real-world examples of individuals who have successfully captured and expanded their audience's attention.

The quote illustrates how capturing attention can be the foundation for building a significant business empire, using media as a tool for multiplication.

• Capturing and multiplying attention is a high-value skill.
• Not making desired money is often due to not focusing on valuable, scarce skills.
• Skills can be learned rather than taught, as per Noval Ravacon.
• It’s not enough to capture attention; it must be multiplied organically at no extra cost.

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

This quote emphasizes the importance of not just capturing attention but also multiplying it, highlighting it as a critical skill in achieving financial success.

"It's not being able to just capture attention. You have to be able to use that attention to then multiply the attention on its own, organically at no incremental cost."

The quote underlines the necessity of leveraging captured attention to expand it further without incurring additional costs, which is key to gaining unlimited leverage.

• Multiplying attention or value at no incremental cost leads to unlimited leverage.
• Saving people time can result in immense wealth.
• Analyzing common time-consuming tasks and automating them can create value.
• Technology or software solutions are often the means to achieve this at scale.
• Even small time savings can be valuable when offered to a large market.

"That's the key point, is that you have to be able to multiply it at no incremental cost to you. That's how you get unlimited leverage."

This quote stresses the concept of unlimited leverage, where the ability to multiply value without extra costs results in exponential growth and potential wealth.

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

Here, the speaker identifies the significant opportunity in providing time-saving solutions to a large audience, which can be a path to building a substantial fortune.

• Offering a service that saves time can capture a vast market.
• People are willing to pay for solutions that reduce effort and unwanted sacrifice.
• The cost to the provider must be negligible to capture the entire market.
• Google is an example of a company that saved users time and monetized through advertising.

"You can capture an entire marketplace by giving them time back."

This quote illustrates the potential to dominate a market by providing a service that saves time, as time is a valuable commodity for everyone.

"What did Google do? Gave everyone time back."

The quote provides a real-world example of how Google became successful by saving people time, showcasing the practical application of this concept.

• The podcast grows through word of mouth, not through ads or sponsorships.
• Sharing and recommendations by listeners are crucial for the podcast's expansion.

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

This quote highlights the reliance on organic growth through personal recommendations, which ties back to the importance of capturing and multiplying attention without cost.

• Alex Hormozi encourages listeners to share the podcast as a form of gratitude and to help other entrepreneurs.
• Sharing could be through leaving a review or making a post.
• The act of sharing is seen as spreading good karma for other entrepreneurs.

To pay it forward to whoever showed. You or however you found out about. This podcast, that you do the exact same thing. So if it was a review, if it was post, if you do that, it would mean the world to me.

Alex Hormozi expresses the importance of sharing the podcast with others as a way to give back to the community that introduced them to the podcast.

• Influencing behavior of others at a large scale without incremental cost is a rare and valuable skill.
• Historical figures like Jesus and Thomas Jefferson are examples of individuals who influenced mass behavior.
• Changing people's beliefs and thoughts can lead to a change in their behavior.
• Influencing decision-making can result in significant downstream behaviors.
• This skill can lead to changing the world and potentially generating a lot of money.
• The best persuaders often seek power after surpassing financial needs.
• Alex Hormozi connects this skill to one of the four types of leverage: labor.

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.

Alex Hormozi explains that the ability to influence others on a large scale without additional costs is a rare and highly valuable skill.

• There are four types of leverage that correlate with the ways to increase wealth.
• Leverage can be exercised over labor, capital, and time.
• Influencing others' actions towards one's goals is a form of leveraging labor.
• Maximizing and multiplying capital is another form of leverage.
• Providing technology that gives people their time back automates luxury and is a form of leverage.

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. These are how fortunes are created.

Alex Hormozi describes how leveraging labor, capital, and time can lead to wealth creation, aligning with the four types of leverage that exist.

• The creation of scale using technology is attributed to giving back time and effort to people without additional cost.
• Identifying areas where people invest time, effort, and sacrifice is crucial for returning value.

"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."

This quote highlights the principle of enhancing user convenience by saving their time and effort through technology, which is a way to create scale in business.

• Time is the primary resource that technology aims to give back to people.

"And the key resource we're giving people back is time."

Alex Hormozi emphasizes the importance of time as a valuable resource that technology can help conserve, underlining its significance in scaling operations and improving user experience.

• Media is a tool for capturing and multiplying attention through sensory impressions.
• The goal is to engage as many senses as possible to draw people into a particular "thing," resulting in a compounding effect.

"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."

Alex Hormozi explains how media serves as a platform for distributing content and capturing attention, which is a critical aspect of creating a scalable and influential presence.

• The skills mentioned (labor, capital, time, attention) have a compounding, exponential nature, not just additive or multiplicative.
• Understanding the concept of exponential growth is important, as it implies growth upon growth.
• Each skill leads to a self-reinforcing cycle that accelerates progress and scale.

"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."

Alex Hormozi stresses that the skills he discusses have a compounding effect, which is crucial for achieving exponential growth and creating significant value over time.

• Individuals should assess which of the four skills (labor, capital, time, attention) they lack or are developing.
• Mastery is not binary but a matter of degree and extent.

"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?"

Alex Hormozi encourages self-reflection on personal skill sets, suggesting that individuals should evaluate their proficiency in each area and work towards mastering them to create wealth.

• Alex Hormozi's motivation for creating content is to prevent people from being broke.
• He introduces himself and his ownership of assets, signaling his credibility and success.

"I make this channel because a lot of people broke, and I don't want you to be one of them."

In his closing statement, Alex Hormozi expresses his desire to help his audience achieve financial success, which is the driving force behind his content creation.