WEBVTT

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we're going to quantify how we can directly impact the bottom line of the business.

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We're going to ask for variable compensation around the value that we are providing for the

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business, and we're going to be able to get it because no one else can do it. Welcome to the game

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where we talk about how to get more customers, how to make more customers, how to keep them longer,

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and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe.

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What's going on, Mosy Nation? This is Alex Hormozi. The purpose of this is to

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blow up some of the things that I saw online with relation to how to make more money when it comes

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to getting a raise if you are an employee, number one, or number two, getting a raise from your

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customers as a business owner. Because at the end of the day, all of us are still beholden to our

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customers that we serve. And so if you don't know who I am, my name's Alex Hormozi, I'm an acquisition

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.com. It's a portfolio of companies that's over $100 million a year. I make these because I think

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it's fun. So let's rock and roll. So I think the easiest way to solve this dilemma, this problem

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for not getting paid enough is to understand what are the variables that influence pay, right?

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Right. And so I think a fun process is to go through this and think about it using inversion

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thinking, which is something that Charlie Munger champions and a lot of other great thinkers.

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All right. And so if we wanted to make as little money as humanly possible and we were

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employees and or business owners, what would we do? Well, number one, we would provide very little

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value. All right. There'll be the first thing that we do is we'd have we'd have skill set that

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just does not provide a significant amount of value to a business and or to a customer. All right.

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This sets first off is what we would do. The second thing that we would do is we would not ask for

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very much of that value that we were creating. So hopefully we're creating some level of value,

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which is why we're getting employed or why we were asked to solve some problem for a customer,

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right? We're we're solving a problem. There's a job to be done. And so that is the potential

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amount of money that we can earn. The amount of that potential money that we earn is predicated

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based on our ability to negotiate. And so we ask for a very small amount of that money. All right.

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So low value and then of that small number, we ask even for a smaller percentage of that number

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because of our ability to negotiate. That would normally be the only two things that you think,

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okay, well, this is my potential. And this is how much I ask for. And so there's nothing

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on to variables that that would create how much I'm getting paid. Ah, but there's a third.

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All right. And I'm going to get to the three and how you can flip this at the end of the video.

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All right. But the third one that we're going to look at is supply-demand dynamics, meaning

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how easily replaceable is the value that we're providing. And so in an unideal world, in Bizarro land,

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where we want to get paid as little as possible using inversion thinking, we would one, have low

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value, two, ask for very little bit and three, have a line of people standing behind us, the

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opposite of scarcity, right? Working against us, we are commoditized. Our skill is easily

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found and easily replaced by other willing people who want to do it for less money, right? Because

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they hate us, they hate the economy, they hate capitalism and they hate generally moving up

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in life, okay? So if you are an employee or you are a business owner and you were trying to get paid

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more, then we can invert this process and think to ourselves, what are the ways that we can?

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Number one, create more value, which I wrote a whole book about, right?

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100 million dollars offers, 99 cents if you want to. Number two, is how do we negotiate?

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Now, we have a high potential value that we are creating, right? So we've now, we've flipped the

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equation, we're creating, we're creating tremendous amount of value for the person. Now, one of the

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keys in communicating value is using multiple lenses through it to see it, all right? So it's not

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just about, and the easiest one is just the quantitative number value in terms of how much money

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are we creating, right? How much money are we helping to produce, all right? So that is monetary

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value. There are other forms of value, right? There's lots of services out there that exist that,

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especially consumer services, where there is no direct amount of value, but there's indirect value.

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So if you help someone lose weight, the amount that you can charge on that will depend on who you

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serve, right? Which would then actually get into a fourth bucket, which is picking the right

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customers, right? And I'll tell you a quick story about this before I die back in. I think you'll

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like the tangent. So there's a boy, and he's 16 years old, and he's, you know, looking to get his

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first car, and his father, one day, surprises him with a vehicle, right? So he's super excited,

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he sees the car, but it's a little bit of a clunker. It's an old, you know, it's an old car,

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right? But he's fine with it. And the dad says, hey, if you want, you can go cash this in,

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and then get, you know, and then use the money to get something else if you want. And he says,

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okay. So he says, hey, why don't you just go down to the car lot and see what they'll give you for it?

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So he goes over the car a lot, you know, excited to see what they'll trade the car in for,

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and they said, you know, we'll give you $5,000 for the car. And he was like, okay, so he goes back

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to his dad, tells him the story. He says, okay, son, well, why don't you, why don't you try the

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pawn shop? See what they'll give you for it? Like the scrapyard. So he goes over to the pawn shop,

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slash, slash scrapyard, right? Goes there. And he asked the same question. He says, you know,

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this is the car, how much can I get for it? And they're like, probably give you a thousand bucks

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just for like the parts in the metal. And he's like, so he walks back to feed the lead to his dad.

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And he's like, you know, it's only worth $1,000 for those guys. So that says, hmm,

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won't you go down to that antique dealership? See what they say? So he goes to the antique dealership,

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shows them the car. And they say, oh my god, this is a historic XYZ car. There's only this many

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of them ever made. This is a $200,000 vehicle. The kid blown out of his mind, runs back home,

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he's like, dad, you won't believe it. And the dad smiles and he's like, what? I was like, they say

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this car is unbelievably valuable. It's historic. It's like one of a kind, blah, blah, blah.

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And so the dad pauses and says, so listen, son, what I want you to see from this is that the value

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that someone will give you is not necessarily just a result of the vehicle of who you are,

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but who you were talking to. And so a hidden bonus of this video that I'm going to give you right

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now is that there are three is what I said. But the fourth one is who we are serving, right?

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So the amount that you can charge if you are a business owner will be also predicated

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on who you serve, right? If you can help a billionaire lose weight, he will probably pay you more

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than somebody who's on, you know, who's on unemployment, right? Just the nature of like that

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problem to that person is more valuable to solve, right? And that's because indirectly for them

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if that helps the billionaire, right? Get his wife, which he might value more, right? Or he might

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be able to seal a deal because people respect him or whatever it is, right? Then there is more

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indirect value that you can ascribe to the services that are being provided, okay? So I said there were

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three, but there's actually four. I'm trying to keep you guessing, all right? But so I said number

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one was value, okay? So values can be predicated on who we're serving and also how much value we can

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provide, which is going to come into what's the dream outcome we're providing them, how likely do

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they think that they're going to get that with you as an employee and or as a business that they're

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hiring because all of us are doing jobs, all of us are employees, right? In one way or another,

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how quickly we can get that done. And then how much work they have to do as a result of that,

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which you can translate in a couple ways. If you're an employee and someone always has to check

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up on you and always has to give you direct instructions, that is less valuable of employee

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than employee who's coming with the idea is can get things done quickly. I have a large amount

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of confidence that someone's going to do the job and the perceived outcome that I want to create

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that employee can duplicate quickly. Awesome, so that's you can reverse the value equation that I

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talk about in the book, whether you're working for a customer or you're working for a boss,

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either of those things. And I'll get to how you can make more money as an employee in a second,

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okay? So one, we're flipping the inversion to we create lots of value. Number two,

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I said we're serving the right person. All right, that's the second component of that.

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Hey guys, real quick for those of you guys who are $100 million offer fans. I love you.

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I added in a lost chapter that has never been released. I'm releasing it now.

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Transparently, I'm doing that to build hype for $100 million leads. But you will have the unreleased

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chapter. It talks about your first avatar and how to segment customers to make more money.

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You can get it by going to acquisition.com, forward slash leads. It's O3.

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In exchange for email so that I can email you when we launch $100 million leads,

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and so that you can not miss out on it because last time I sold out for like eight straight

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weeks, really fast. So that is my way of making sure that y'all get first tips.

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Number two here is going to be how much we ask for. All right, so how much we negotiate. And so

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as a business, we do this by setting our prices, right? That is that is fundamentally the

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negotiation that occurs as we set our prices. And a lot of times you'd be amazed that just

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asking for more, you get more, right? Because most people sell from their own wallet.

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As in they think this is a lot of money and therefore they ask for what they believe is a lot of

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money. And here's the fundamental fallacy with this problem. What comes easy to you is typically

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not easy for other people. And so I'll give you a simple example personally. I am not a car guy.

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I am not a fix it guy. I just don't care. And so if I went to a mechanic shop and they said,

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hey, we've got to change our oil and do XYZ in your car, it's going to be a hundred bucks. If

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they say a hundred bucks or three hundred bucks, I'm not going to notice. I'm not going to care.

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But if you talk to another mechanic, they're like, you charge that guy $200 to change his oil.

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That's crazy. It only takes two seconds. And all you have to do is turn the knob and oil comes out

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and then pour back in whatever, right? And it's because to them, to a mechanic changing oil seems

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like a very easy thing to do. And it probably is. But to me, it's something that is going to take me

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time to learn that I don't care, right? And so what is easy to one person because you have been doing

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it for so long might not necessarily be easy to other people. And so your perception of the value

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is actually skewed, which is why you should not be the one necessarily setting a prices. You will

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allow the market to set the prices for your services and or the pay that you get, right? So number one,

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we provide lots of value. Number two, you negotiate or ask for a higher amount. Okay? And if you

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were an employee, an easy way to do that is create some sort of variable compensation for yourself and

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say, Hey, these are ways that I think I can tie into the revenue of the business. Would it be

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fair? Would it be unreasonable for me to ask for a percentage of that, not for the whole necessarily

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the whole company, but at least in this way, so that I can drive towards those goals, which are

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ultimately make the company more money, right? Which is exactly what we're doing is, you know,

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when we serve customers, right, especially if you're going to be to be services, you say,

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listen, I think that this thing will yield this amount of result. And I would like a percentage of

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that, right? And it's variable compensation. So the best way and the highest people who make the

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most money have variable compensation business owners have variable compensation depends on how

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well your business does and how how much you serve your customers. The business itself is

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variable compensation, right? The enterprise value. All right. So if you can shift your thinking

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around this, it will pay dividends. So value negotiations go in the third one, which is

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competitive landscaper, competitive dynamics or supply demand for the job to be done. All right.

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So think about this way. If I have lots of people who can do the job, right? If I have some of you

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comes up to me, let's say they're an employee and they say, hey, I'm providing lots of value and

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I would like to ask for more. I would not have leverage on this situation. If there was 20 other

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people who were lined up who could do the job and were willing to accept less, right? Which is why

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this applies for both labor as it does for owning a business. It's both sides, right? If I want to

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provide XYZ service and there's another guy who's willing to provide XYZ service for less and there's

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nothing that really differentiates us, then most consumers will just go to the one that costs less.

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Which brings up the important lesson of how do you invert this? How do we solve this problem?

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Which is we have to be in a category of one. All right. And so we do this by trying to niche down

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and create more specialized services because then we decrease the pool of people that we were competing

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against. Now, as you scale up in a business, I'm going to answer this as a business and also for

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employees, as you scale up in a business, you do in general go broader, but usually you can use

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the experience, the depth of knowledge you have, and then be able to be better at that stuff

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at a larger scale. All right. And so the easiest thing to do, which is why I talk about this in the

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book, is is niche down at first, right? So that we can get really, really good at delivering one

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very specific high amount of value to a very specific customer. All right. And so when we do that,

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we basically fall into creating lots of value. We price high. So we're asking for a bigger

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percentage of the value that we know we're creating. And we're doing it as a category of one in

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that there's no other people who can do it. And so we add other features and bells and whistles

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and bonuses and guarantees to create offers that are more compelling to a customer that are one of

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a kind, which make it more difficult for other people to compete against us. And thereby allow

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us to capture a larger percentage of the value that we are creating. That's the idea. That's the

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point. Now, if you're an employee, right, and you walk through this process, then the idea is,

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how can I use my unique unique being the key skills and experiences to make the business that I'm

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working for more money? Right. Because ultimately that is, I mean, that's where you're getting

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compensated. It's a percentage of the revenue that you're responsible for, right? Indirectly or

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directly in the more directly, you can be associated with it. The more you will get compensated,

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because the more clearly you can point to the value that you are creating, right? Because the more

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direct it is, the less argumentation or discount that will be applied to the value that you're creating

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for the business, right? That makes sense. Hopefully it makes sense. Okay. So if we are an employee and

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we want to make more money, then we're going to use our unique skills and experiences and we're

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going to try and quantify to the highest degree possible how we can directly impact the bottom line

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of the business. We're going to ask for variable compensation around the value that we are providing

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for the business, which just works the same if you're a business, right? And we're going to be able

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to get it. And this is the third piece here. The reason that we're going to be able to get it

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is because no one else can do it, right? And that's the idea. And so this also kind of brings in

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that part that the bonus number four, which is the type of opportunity that you are pursuing in terms

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of the overarching umbrella of business that you were working for will also dictate how much you

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get paid, right? Like if you work at a dry cleaning business, it will be very difficult for you to

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make a million dollars a year. And that's because the business doesn't make a million dollars a year

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in all likelihood, right? And so your opportunity vehicle will always be a subset of the business

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opportunity that you're working underneath of. And I think this is a good thing to head on because

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what it takes, which is a great book by Stuart Schwartzman Steven Schwartzman. The guy started Blackstone.

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Anyways, that guy is worth $37 billion today. So he's pretty rich and he's pretty good. And what he

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talks about is the idea, and I think many other visionaries have said this, but you need to have a

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vision that is big enough for your business that others people, visions fit inside of it, right? And

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so what that really means is that you need to have a pie this big enough that everyone can get wealthy.

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And if you're operating in an opportunity vehicle that does not allow other people to get wealthy,

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then you will probably not attract 10 out of 10 talent. And if you are 10 out of 10 talent,

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then maybe you should be looking for bigger visions, bigger visionaries, bigger companies who have

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bigger goals and bigger dreams so that you can learn unique expertise while working at those

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businesses because listening to Uncle Warren, there's only two things you should be working for,

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whether you're learning or you're earning, right? So you should get paid, you should get paid in one

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or two are ideally both ways when you work, which you should be learning all the time and you should

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be earning, right? And it should definitely at least be one of those two things. And if you're not

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learning and you're not earning, you should stop working wherever you're working, all right? Which

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is why we're seeing a precipitous drop in, I would say, frontline retail, very generic workers,

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last two months, I think we have eight million people quit their jobs in those kind of frontline

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sectors because the opportunity was not big enough, right? And so for us, we can think about this as

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business owners when we're thinking about our employees, we can then we have this as business owners

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as we're communicating value to our customers, which is how can I create the value? How can I,

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how can I capture the value through my pricing and my ability to negotiate? And then how can I

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create a category once I'm not competing against everyone else's shitty prices, all right? And so

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as the employee, we do the exact same thing except our prices are the wages that we charge. And so

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in that way, being a business owner or an employee actually is very similar. It's just that we are

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just one degree separated from the customer, right? So the business owner is closer to the customer

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than the employee that works for the business from a value creation standpoint, right? So

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business serves the customer, employee serves the business, right? And they do that. I say that

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as a, as a, from a big picture perspective, even though the employee may directly be servicing

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the customer, they do it within the overarching infrastructure of the business that exists, all right?

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And so right now, if you want to make more money, you want to get paid more, whether you are a

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business owner or an employee, think about how you measure up in each of those three dynamics.

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And if you're like, how do I create more value? I wrote a book about it. It's 99 cents. You

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can grab it if you want. It's on Amazon as 4,000 five-star reviews. I think people like it at least.

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Or at least they just like leaving five-star reviews for it. So either way, I'm cool with it. Ideally,

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they like it though. But that's about the value creation. Your ability to negotiate honestly, like

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you could have all the tips in the world. I'll tell you the simplest law of negotiation is this.

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He who has the most options wins the circumstance. And so your ability to get other customers,

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your ability to have other jobs if you're an employee. Those that you bring to the table prior to

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your negotiation will give you all the leverage you need. If you have 100 girls who are lined up

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to date you or 100 guys who are lined up to date you, you have more leverage in the quote negotiation,

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right? If you have hundreds of other businesses who want you, you have far more

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abilities and negotiate, which is why people are like, how does this CEO make $50 million

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dollar bonus or whatever from his public trade companies? They're like, well, do you know the

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amount of guys who can do that specific job, you can count on one hand in the entire planet,

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right? And so that is why because the supply demand dynamics for that specific role, right? And the

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value that's being created and the percentage that they negotiate, that's how that kind of money

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gets created. So you can make obscene amounts of money as both a business owner and or an employee,

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as long as you understand those three dynamics, all right? And as again, the added boned caveat to

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that is that those guys can make that kind of money because they're operating within a business

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that has a massive dream that is really to impact humanity overall and lots of people can get

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wealthy in that. Both the owners and the employees because in a lot of ways, the compensation

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structure, the bonuses, options, things like that, the structure are based on variable compensation

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on the overall production of the business, all right? So lots of love everyone. If you're new to

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Mosination, welcome.