What Are You Willing To Sacrifice Ep 578

Summary Notes


In a candid conversation, Alex Hormozi shares his insights on decision-making and the importance of aligning choices with desired outcomes, particularly in the context of entrepreneurship. He recounts a pivotal discussion with his entrepreneurial neighbor, an 18-year-old college freshman, who is at a crossroads after facing trouble at school. Hormozi advises the young man to critically assess the true motivations behind his desire to stay in college, challenging him to consider whether it aligns with his entrepreneurial aspirations or serves as a safety net against the fear of failure. Hormozi emphasizes the necessity of sacrifice for success, drawing on his own experiences and the journeys of other successful entrepreneurs to illustrate that significant achievements often require a period of unbalanced, intense effort and the willingness to endure hardships. He encourages listeners to confront their fears, make sacrifices, and choose paths that genuinely advance their goals.

Summary Notes

Decision-Making and Self-Narrative

  • The stories individuals tell themselves about their choices are crucial to their self-identity.
  • Self-reflection on the reasons behind decisions can reveal much about one's character and aspirations.

"And when we make these choices, I think just as important, if not more important, is the story that we are telling ourselves about why we made the choices and what that tells us about who we are."

This quote emphasizes the importance of the internal narrative that accompanies decision-making, suggesting that understanding our motivations is key to understanding ourselves.

Business Perspective and Personal Growth

  • Business is viewed as a game by the wealthiest individuals.
  • The speaker's objective with the podcast is to share lessons from building a successful business portfolio.
  • The aim is to help listeners grow their businesses and potentially collaborate to reach significant financial milestones.

"The wealthiest people in the world see business as a game. This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building acquisition.com into a billion dollar portfolio."

The speaker relates business to a strategic game and indicates that the podcast serves as a medium to share insights and experiences from their journey in the business world.

Entrepreneurial Journey and Education

  • The speaker narrates an experience with a young entrepreneur facing a dilemma about continuing college.
  • The story serves to illustrate common decision-making processes applicable to various life choices.
  • The conversation explores the reasons behind the decision to attend college and challenges the young entrepreneur to reflect on his true motivations.

"I want to tell you a story that may be applicable to you if you're an existing entrepreneur or a new entrepreneur or somebody who's about to make a big decision in life."

This quote introduces a story meant to resonate with entrepreneurs and individuals at decision points, suggesting that the principles discussed are universally applicable.

Critical Examination of College Decision

  • The speaker encourages the young entrepreneur to critically assess the desired outcomes of attending college.
  • The discussion involves examining the potential interest in college courses and the real reasons for wanting to attend college.
  • The speaker suggests that attending college might be a way to avoid the stigma of failure in entrepreneurship.

"Because he didn't really like high school that much. He's like, well, I want to give it a try. I was like, okay, again, what do you want to have happen? Or what do you think is going to happen? What is the positive outcome that you're potentially looking for, what's the negative outcome that you think could happen?"

The quote captures the speaker's attempt to guide the young entrepreneur through a thought process that evaluates the reasons and potential outcomes of the decision to attend college.

"Do you think it's possible that you want to go to college because it's a socially acceptable shield for you not being successful in entrepreneurship?"

This quote suggests that the decision to attend college may be a defense mechanism to avoid the perception of failure, highlighting the importance of honest self-assessment in decision-making.

Self-Deception in Personal Goals

  • Individuals often create socially acceptable excuses for their actions to avoid confronting deeper issues.
  • The core issue is the misalignment of actions with true desires, stemming from a fear of facing life's challenges.
  • People use side projects as a defense mechanism against the harsh realities of life and their own insecurities.

"But I think that that is such a core issue for many of us, is that we present these socially acceptable solutions to ourselves when deep down, the reason that we're doing them is not for the right reason."

This quote highlights the common tendency to rationalize actions with socially acceptable reasons, even when those reasons are not the true motivators for our behavior.

Evaluating Life Choices

  • It's crucial to reflect on what one truly wants in life and consider whether current actions align with those goals.
  • The speaker encourages a person to compare the outcomes of investing time and money in education versus starting a business.
  • The decision-making process should be based on logical outcomes and personal goals, not on emotional barriers.

"And I was like, okay, so if you have four years and $200,000, if you invest that in college, versus investing $200,000 in four years into learning, into trying to start your own business, which of them, after four years, do you think will get you closer to your goal?"

This quote emphasizes the importance of comparing different paths to determine which one aligns more closely with one's ultimate goals, in this case, the goal of owning a business.

The Concept of Sacrifice for Success

  • Commitment to a goal often requires significant sacrifices and trade-offs.
  • The speaker shares a personal anecdote about starting a gym and the sacrifices made to achieve success.
  • Success may require forgoing leisure activities, social life, and even personal well-being temporarily.
  • Willingness to sacrifice is presented as a necessary component of achieving long-term goals.

"The mindset that I approached it with was, I will not outwork everyone, but instead I will outsacrifize anyone."

This quote conveys the speaker's belief that the willingness to make sacrifices is more critical than merely working harder than others when it comes to achieving success.

Making Decisions for the Right Reasons

  • The speaker stresses the importance of making life decisions based on genuine beliefs rather than external pressures.
  • The stories people tell themselves about their decisions shape their identity.
  • It's essential to be honest with oneself about the reasons behind choosing a particular path, such as pursuing higher education.

"But understand that the reason you're doing it is because you believe that four years of in college and spending $200,000 is the best use of your time."

This quote suggests that one should pursue a path, like college, only if they genuinely believe it is the most valuable use of their resources and aligns with their personal goals.

Importance of Personal History and Choices

  • Our current position is a result of our past stories and experiences.
  • The stories we tell ourselves about our choices reflect our self-perception.
  • Understanding the narrative of our past can help us make informed decisions.

"And I think that's such a deep message, because where we are is because of the stories that we have that have led us to be who we've become."

The quote emphasizes the significance of our past in shaping who we are today, suggesting that our history is integral to our identity and future choices.

"And when we make these choices, I think just as important, if not more important, is the story that we are telling ourselves about why we made the choices and what that tells us about who we are."

This quote suggests that the reasoning behind our choices is as critical as the choices themselves, as it informs our self-concept and personal narrative.

Growth and Promotion of the Podcast

  • The podcast relies on organic growth through word-of-mouth.
  • The host does not use ads or sponsorships and instead asks listeners to share the podcast.
  • Sharing the podcast is equated with spreading good karma, especially for entrepreneurs.

"The only way this grows is through word of mouth. And so I don't run ads. I don't do sponsorships. I don't sell anything."

The host explains the podcast's growth strategy, which relies solely on listeners sharing the content with others, rejecting traditional advertising methods.

"So, if it was a review, if it was a post, if you do that, it would mean the world to me, and you'll throw some good karma out there for another entrepreneur."

By asking listeners to share the podcast, the host implies that this act of sharing not only helps the podcast but also contributes positively to the entrepreneurial community.

Decision-Making and Fear of Failure

  • Clarifying decisions involves distinguishing between different paths and their outcomes.
  • Emotions, particularly fear of failure, can hinder decision-making.
  • Failure in entrepreneurship is a learning experience, not a defining trait.
  • The story one chooses to tell through actions post-failure is crucial.

"And so I wanted to clarify the decision for him in terms of, is this what you want, yes or no?"

This quote highlights the importance of simplifying decisions to their core by asking direct, yes-or-no questions.

"And I said, right now, you're in this instance where this is the first real big hit life has ever given you."

The speaker is acknowledging the significance of a challenging life event for the individual, suggesting it is a pivotal moment that could influence future decisions.

"Do you use this as the catalyst to realize that you actually don't aren't interested in this school stuff and you never have been and have always wanted to do the entrepreneur thing, but it's been a side hustle, and you've never fully committed to it."

This quote presents the idea that a setback can serve as a turning point, prompting one to reassess their true interests and potentially pivot towards a more fulfilling path.

"And I think if you can simply name the fear of what you are afraid of, it allows you to face it, and it removes the power it has over you, because then you have clarity."

Naming one's fears is portrayed as a powerful step towards overcoming them, as it provides clarity and diminishes the fear's control over decision-making.

Facing Fears and Realizing Potential

  • Identifying and confronting fears is essential to progress.
  • Deciding between potential success and guaranteed stagnation involves assessing risks and benefits.
  • Listing sacrifices and trade-offs can clarify what one is willing to give up to achieve their goals.
  • The choice between taking a chance (maybe) and certain inaction (never) can determine one's path.

"And so when you think about a maybe versus a never, then I'll take a maybe over a never any day of the week."

The speaker advocates for choosing the possibility of success over the certainty of not trying, suggesting that taking risks is preferable to inaction.

"But I think literally listing those things out of what you are willing to give up."

By suggesting that one should list the things they are willing to sacrifice, the speaker is advising a methodical approach to understanding and committing to the pursuit of one's goals.

Sacrifice and Success

  • The speaker gave up leisure activities and socializing to focus on their entrepreneurial journey.
  • They believe that great accomplishments require extreme effort and unreasonable sacrifices.
  • The speaker advised a young coder about the importance of dedication and the impact of working intensely on progress.
  • They argue that successful people often approach their goals in an unbalanced way, focusing intensely for certain periods.
  • The speaker acknowledges sacrificing fitness, sleep, and social life during their journey to success.

I had to additionally give up because I was at a point of just rubber meeting the road and I had to push harder.

This quote emphasizes the speaker's decision to give up certain pleasures and comforts to exert more effort into their entrepreneurial goals.

I don't believe that anything great was ever accomplished by someone who was balanced. I think that it takes extremes, it takes extreme effort, it takes unreasonable sacrifice in order to achieve things that are unreasonable.

The speaker expresses their belief that balance does not lead to great achievements, and that extreme effort and sacrifice are necessary for extraordinary outcomes.

Do you think it's reasonable or unreasonable that he would be further ahead than you? He's like, reasonable.

Here, the speaker is highlighting the logic behind the idea that more work and dedication will lead to being further ahead in one's goals.

What you do for a season of life doesn't have to be forever, but sometimes it does have to be for that season.

This quote suggests that intense focus and sacrifice may not be permanent but are necessary for certain critical phases in the pursuit of success.

I sacrificed my fitness for periods of time. I'm not saying it was good. I'm just saying I did.

The speaker admits to sacrificing personal well-being for their ambitions, without necessarily endorsing such sacrifices as the right choice.

Some of the great marketers, some of you guys may have heard of, Russell Brunson pitched for five straight years on stages unknown before he became Russell Brunson.

The speaker provides examples of successful individuals who endured long periods of hard work and obscurity before achieving recognition and success.

I did 4001 on one consultations over a four year period, selling fitness, doing 1520 appointments a day.

By sharing their own experience of relentless work, the speaker illustrates the level of commitment they believe is required to reach significant goals.

And the thing is that there's this unreasonable amount of effort, this unreasonable amount of sacrifice that usually has to go in to get the unreasonable goal, and yet people are not willing to make the sacrifice to do it.

This quote reinforces the speaker's message that extraordinary goals necessitate extraordinary effort and sacrifice, which many are unwilling to commit to.

And we know why we're making decisions. We are. So that decisions are not made for us by life.

The speaker concludes by emphasizing the importance of making intentional decisions based on desired outcomes rather than allowing circumstances to dictate one's path.

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