Thread by @thegrantdotco

Discovering @alexhormozi feels like reading @naval or @paulg for the first time... but even more tactical.

Here are my favorite nuggets from Alex.

🧵

@AlexHormozi @naval @paulg Disclaimer: As Alex repeatedly says

"This is what worked for me. The same may not work for you. Hopefully, some of this is useful to you."

@AlexHormozi @naval @paulg The easiest way to grow a biz is to increase prices.

A biz with 20% margins can 2x profit by increasing price by just 20%.

@AlexHormozi @naval @paulg 🚫The wrong way to raise prices:

"we are raising our prices."

open.spotify.com/episode/6SNzdQ…

@AlexHormozi @naval @paulg ✅the right way to raise prices.

Say:
1. Here's all the things we do for you (they might not know)
2. How we treat our employees etc well
3. To maintain my integrity to offer the best product we will increase our prices
4. PS. If this will cause financial hardship LMK

@AlexHormozi @naval @paulg There are only 4-5 important decisions you'll make in life.

Don't listen to people who are less successful than you want to be at the decision in question. open.spotify.com/episode/2Q52Bh…

@AlexHormozi @naval @paulg Corollary for content creation:

A hair stylist's videos on becoming a billionaire won't do as well as Elon's. Even if the stylist's videos were better.

Why?

Bc Elon has actually done it.

Many content creators talk abt things they haven't done

@AlexHormozi @naval @paulg Here's Alex's Crazy Content Creation Model:

1. Do shit
2. Talk about what you just did
3. Do more shit

✅Here's what I did. It worked for me. It might work for you.

⛔Here's what you should do. (Sounds egotistical)

I did vs. you should.

@AlexHormozi @naval @paulg Speak YOUR truth, not THE truth. You are unquestionably an expert on your own life.

I ate oatmeal for breakfast
vs.
you should eat oatmeal for breakfast.

@AlexHormozi @naval @paulg Turn content into Sales:

Give away the secrets; sell the implementation.

If you're not afraid of giving away the secrets then you're not giving enough away.

@AlexHormozi @naval @paulg But! The longer you wait to make "The Ask" the more you get.

⛔Ask, ask, ask.
🟡Give. Ask.
✅Give, give, give. Give, give, give. Get (without even asking sometimes)

@AlexHormozi @naval @paulg He who has the longest time horizon wins.
open.spotify.com/episode/0luOQq…

@AlexHormozi @naval @paulg For hard conversations say to their face what you say behind their back.

@AlexHormozi @naval @paulg Tone matters. Example:

*I* didn't say he hit his dog.

I didn't say *he* hit his dog

I didn't say he *hit* his dog.

I didn't say he hit *his* dog.

Listen to yourself pitching. See how the tonality is different, the phrasing, the pauses. Emphasis can make a big difference.

@AlexHormozi @naval @paulg How value is created:

If Liposuction and a Gym membership have the same outcome, why does one cost 60x more?

Answer: the Value Equation

@AlexHormozi @naval @paulg The Value Equation:

@AlexHormozi @naval @paulg Liposuction has a high likelihood of success, little delay and little effort compared to working out.

@AlexHormozi @naval @paulg How the rich avoid paying taxes:

⛔Sell your biz
⛔Move to Low Tax jurisdiction
These cause a tax event.

✅Build a biz. Take loan against the biz as an asset at 1-2%. Use the loan to invest and live on. No capital gains tax.✨

open.spotify.com/episode/3OKXxm…

@AlexHormozi @naval @paulg How to give employees/consultants equity without causing a tax event:

Provide Phantom Equity

open.spotify.com/episode/3wcg6G…

@AlexHormozi @naval @paulg Focus on investing (instead of employment/entrepreneurship) IFF...

10% of your wealth is more than you make in a year.

@AlexHormozi @naval @paulg Three key aspects of a great Salesperson:

-Skill
-Belief (or conviction)
-Work Ethic (# of shots-on-goal)

Which is most important?

@AlexHormozi @naval @paulg Belief is the easiest, takes less time and is more scalable.

To sell a religion people only need to wholeheartedly believe. Not understand sales. That’s how proselytizing religions work.

However: Belief as a salesman or biz owner is hard; you know your product isn't perfect ->

@AlexHormozi @naval @paulg Give up on a perfect product.

✅have perfect intentions:

Believe the prospect is better served working with you than anyone else.

@AlexHormozi @naval @paulg Perfect intentions:

You can't guarantee weight loss--you can't do the pushups for them.
But you can be their best shot at getting what they want.
open.spotify.com/episode/7GWBBB…

@AlexHormozi @naval @paulg The best way to believe you have a better product is to actually have a better product.

The best way to have a better product is to focus.

@AlexHormozi @naval @paulg Confidence from focus:

"I feel unafraid not bc of the path that lies ahead but bc of the path that lies behind me."

i.e. "I've don't this shit before"

@AlexHormozi @naval @paulg Corollary:

You're not making as much money as you want bc your not as good as your think you are.

@AlexHormozi @naval @paulg The equation of biz: volume x time = skill

You gotta get the reps in.

In the beginning you'll suck.

But eventually you'll suck so little you'll actually be good.

@AlexHormozi @naval @paulg People start a second, third business because they are bored, to solve their own insecurities.

The purpose of a business is not to solve your insecurities but to provide value to your customer.

@AlexHormozi @naval @paulg When I was unhappy I tried to be happy. I went to therapy.

But then I decided

"fuck happiness"

and just ignored it. And then I was no longer unhappy.

@AlexHormozi @naval @paulg Shame only exists in darkness

If someone criticizes you. Say "yes, and…?"

@AlexHormozi @naval @paulg Motivation:

I am costing the world $1b per year in value by not knowing how to create $1b a year in revenue...yet.

@AlexHormozi @naval @paulg 4 startegies to make me not want to quit:

1. Negative visualization

2. Expect the worst

3. Pain anchor

4. Eventually the universe will turn into dust

@AlexHormozi @naval @paulg 1. Negative visualization:

If this happened 1,000 more times would I care anymore? No.

So can I stop caring now? The circumstances haven't changed; only my perspective after 1,000x.

Therefore I can change my perspective today.

@AlexHormozi @naval @paulg 2. Expect the worst:

When starting something hard (eg, to lose weight) prepare for worst case.

When things don't end up at worst case but only kinda bad you've already prepared for worse.

@AlexHormozi @naval @paulg 3. Relive a bad experience.

Like the death of a family member. The last gift a person gives us is perspective. And every other problem becomes minimized compared to a bad experience or death.

@AlexHormozi @naval @paulg Eventually the universe will turn into dust.

Even Napolean and Oprah will be forgotten. Nothing means anything; only the meaning I create.

@AlexHormozi @naval @paulg Don't have beliefs.

Have assumptions.

We get triggered when someone challenges our beliefs. But if you challenge my assumptions I'll thank you.

What's your favorite Alex Hormozi quote? Add it below.

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https://twitter.com/thegrantdotco/status/1549307580177993728?s=20&t=5ogIBGRi8KQMNExVto75KA

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