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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in 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 Hormosey. The purpose of this is to blow up

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

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getting a raise if you are an employee. Number one, when 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 beholding

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to our customers that we serve. And so if you don't know who I am, I'm Alex Hormosey on Acquisition.com.

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

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

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for not getting paid enough is to understand what are the variables that influence PEC, 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, all right, which is something that Charlie Munger champions and a lot of other great

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

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let's let's first off is what we would do. The second thing that we would do is we would not ask

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for 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 only

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

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

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but the third one that we're going to look at is supply-demand dynamics, meaning how easily

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

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

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

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scarcity, right? Working against us, we are commoditized. Our skill is easily found and easily

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replaced by other willing people who want to do it for less money, right? Because they hate us,

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they hate the economy, they hate capitalism and they hate generally moving up in life, okay?

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So if you are an employee or you are a business owner and you were trying to get paid more,

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

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create more value, which I wrote a whole book about, right? A hundred million dollars offers,

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99 cents if you want to. Number two, is how do we negotiate? Now we have a high potential value

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that we are creating, right? So we've now, we've flipped the equation, we're creating, we're creating

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tremendous amount of value for the person. Now, one of the keys in communicating value is using

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multiple lenses through it to see it, all right? So it's not just about, and the easiest one is

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just the quantitative number value in terms of how much money are we creating, right? How much money

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are we helping to produce, all right? So that is monetary value. There are other forms of value,

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right? There's lots of services out there that exist that especially consumer services where there

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is no direct amount of value, but there's indirect value. So if you help someone lose weight,

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the amount that you can charge on that will depend on who you serve, right? Which would then actually

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get into a fourth bucket, which is picking the right customers, right? And I'll tell you a quick

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story about this before I dive back in. I think you'll like the tangent. So there's a boy,

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and he's 16 years old, and he's, you know, looking to get his first car. And his father, one day,

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surprises him with a vehicle, right? So he's super excited. He sees the car, but it's a little bit

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of a clunker. It's an old, you know, it's an old car, right? But he's fine with it. And the dad says,

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hey, if you want, you can go cash this in and then get, you know, and then use the money to get

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something else if you want. And he says, okay. So he says, hey, why don't you just go down to the car

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a lot and see what they'll give you for it. So he goes over the car a lot, you know, excited to

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see what they'll trade the trade the car in four. And they said, you know, we'll give you $5,000

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for the car. And he was like, okay, so he goes back to his dad, tells him the story. He says, okay,

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son, well, why don't you, why don't you try the pawn shop? See what, see what they'll give you for,

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like the scrapyard. So it goes over to the pawn shop, slash, slash scrapyard, right? Goes there,

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and he asked the same question. He says, you know, this is the car, how much can I get for it? And

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they're like, probably give you $1,000 just for like the parts in the metal. And he's like, so he

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walks back to feed the lead to his dad and he's like, you know, it's only worth $1,000 for those

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guys. So that says, hmm, won't you go down to that antique dealership? See what they say? So he

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goes to the antique dealership, shows them the car and they say, oh, my God, this is a historic

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XYZ car. There's only this many of them ever made. This is a $200,000 vehicle. The kid blown

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out of his mind, runs back home and he's like, dad, you won't believe it. And the dad's miles,

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and he's like, what? I was like, they say this car is unbelievably valuable. It's historic. It's

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like one of a kind, blah, blah, blah. And so the dad pauses and says, so listen, son, what I want

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you to see from this is that the value that someone will give you is not necessarily just a result

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of the vehicle of who you are, but who you were talking to. And so a hidden bonus of this video

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that I'm going to give you right now is that there are three is what I said, but the fourth one

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is who we are serving, right? So the amount that you can charge if you are a business owner

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will be also predicated on who you serve, right? If you can help a billionaire lose weight, he will

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probably pay you more than somebody who's on, you know, who's on unemployment, right? Just the

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nature of like that problem to that person is more valuable to solve, right? And that's because

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

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right? Or he might be able to seal a deal because people respect him or whatever it is, right?

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Then there is more indirect value that you can ascribe to the services that are being provided,

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okay? So I said there were three, but there's actually four because I'm trying to keep you guessing,

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all right? But so I said number one was value, okay? So values can be predicated on who we're serving

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and also how much value we can provide, which is going to come into what's the dream outcome

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we're providing them, how likely do they think that they're going to get that with you as an employee

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and or as a business that they're hiring because all of us are doing jobs, all of us are employees,

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right? In one way or another, how quickly we can get that done and then how much work they have to do

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as a result of that, which you can translate in a couple ways. If you're an employee and someone

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always has to check up on you and always has to give you direct instructions that is less valuable

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

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large amount of confidence that someone's going to do the job and the perceived outcome that I

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want to create that employee can duplicate quickly. Awesome. So that's you can reverse the value

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equation that I talk about in the book, whether you're working for a customer or you're working

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

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in a second, 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 value.

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

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

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

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It talks about your first avatar and how to segment customers to make more money. You can get it

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by going to acquisition.com forward slash leads. It's a free exchange for emails so that I can email

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you when we launch $100 million leads and so that you cannot miss out on it because last time I

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sold out for like eight straight weeks really fast. So that is my way of making sure that y'all get

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first dips. Number two here is going to be how much we ask for, all right? So how much we

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negotiate. And so as a business, we do this by setting our prices, right? That is that is

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fundamentally the negotiation that occurs is that we set our prices. And a lot of times you'd be

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amazed at just asking for more, you get more, right? Because most people sell from their own wall

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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 money.

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And here's the fundamental fallacy with this problem. What comes easy to you is typically not

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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, hey,

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

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a hundred bucks or 300 bucks, I'm not going to notice I'm not going to care. But if you talk to

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another mechanic, they're like, you charge that guy $200 to change his oil. That's crazy. It only

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takes two seconds. And all you have to do is turn the knob and oil comes out and then pour back in

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whatever, right? And it's because to them to a mechanic changing oil seems like a very easy

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thing to do. And it probably is. But to me, it's something that it's going to take me time to learn

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

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might not necessarily be easy to other people. And so your perception of the value is actually

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

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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 fair?

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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 much you serve your customers. The business itself is variable

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

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

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landscaper, competitive dynamics or supply demand for the job to be done. All right? So think about this

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way. If I have lots of people who can do the job, right? If I have somebody who comes up to me,

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let's say they're an employee and they say, hey, I'm providing lots of value and I would like to ask

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for more, I would not have leverage on this situation if there was 20 other people who were lined up

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who could do the job and were willing to accept less, right? Which is why this applies for both

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

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and there's another guy who's willing to provide XYZ service for less and there's nothing that really

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differentiates us, then most consumers will just go to the one that costs less, which brings up

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the important lesson of how do you invert this? How do we solve this problem? Which is we have to

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be in a category of one. All right? And so we do this by trying to niche down and create more

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specialized services because then we decrease the pool of people that we are competing against.

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

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

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the depth of knowledge you have, and then be able to be better at that stuff at a larger scale.

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All right? And so the easiest thing to do, which is why I talk about this in the book, is niche down

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at first, right? So that we can get really, really good at delivering one very specific high amount of

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value to a very specific customer. All right? And so when we do that, we basically fall into

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creating lots of value. We price high. So we're asking for a bigger percentage of the value that

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we know we're creating and we're doing it as a category of one in that there's no other people who

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can do it. And so we add other features and bells and whistles and bonuses and guarantees

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to create offers that are more compelling to a customer that are one of a kind which make it

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more difficult for other people to compete against us and thereby allow us to capture a larger

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percentage of the value that we are creating. That's the idea. That's the point. Now, if you're an

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employee, right? And you walk through this process, then the idea is how can I use my unique

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being the key skills and experiences to make the business that I'm working for more money?

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Because ultimately, that is, I mean, that's where you're getting compensated. It's a percentage

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of the revenue that you're responsible for, right? Indirectly or directly in the more directly,

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you can be associated with it. The more you will get compensated because the more clearly,

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you can point to the value that you are creating, right? Because the more direct it is, the less

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argumentation or discount that will be applied to the value that you're creating for the business,

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right? That makes sense. Hopefully it makes sense. Okay? So if we are an employee and we want to

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

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

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

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

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able to get it. And this is the 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. All right? And that's the idea. And so this also kind of brings

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

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

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

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

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dollars a year in all likelihood, right? And so your opportunity vehicle will always be a subset

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of the business opportunity that you're working underneath of. And I think this is a good thing to

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hit on because what it takes, which is a great book by Stuart Schwartzman, Steven Schwartzman,

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the guy started Blackstone. Anyways, that guy is worth $37 billion today. So he's pretty rich.

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And he's pretty good. And what he talks about is the idea. And I think many other visionaries have

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said this, but you need to have a vision that is big enough for your business that others people

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visions fit inside of it, right? And so what that really means is that you need to have a pie

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that's big enough that everyone can get wealthy. And if you're operating in an opportunity vehicle that

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does not allow other people to get wealthy, then you will probably not attract 10 out of 10 talent.

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And if you are 10 out of 10 talent, then maybe you should be looking for bigger visions,

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bigger visionaries, bigger companies who have bigger goals and bigger dreams so that you can learn

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unique expertise while working at those businesses because listening to Uncle Warren, there's only

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two things you should be working for, whether you're learning or you're earning, right? So you should

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get paid in one or two or ideally both ways when you work, which you should be learning all the time

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and you should be earning, right? And it should definitely at least be one of those two things. And if

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you're not learning and you're not earning, you should stop working wherever you're working,

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all right? Which is why we're seeing a precipitous drop in, I would say, front line, retail,

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very generic workers, last two months, I think of eight million people quit their jobs in those

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kind of front line sectors because the opportunity was not big enough, right? And so for us, we can think

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

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

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

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

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

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

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

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

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

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

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they do it within the overarching infrastructure of the business that exists, all right? And so right now,

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if you want to make more money, you want to get paid more, whether you are a business owner or

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an employee, think about how you measure up in each of those three dynamics. And if you're like,

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how do I create more value? I wrote a book about it's 99 cents, you can grab it if you want it's

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on Amazon as 4,000 five star reviews. I think people like it at least or at least they just like

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leaving five star reviews for it. So either way, I'm cool with it. Ideally, they like it though.

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But that's about the value creation. Your ability to negotiate, honestly, like you could have all

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the tips in the world. I'll tell you the simplest, simplest law of negotiation is this. He who has the

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

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have other jobs if you're an employee, those that you that you bring to the table prior to your

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

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to date you or a hundred guys who are lined up to date you, you have more leverage in the

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

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abilities in negotiate, which is why people are like, how does the CEO make, you know,

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$50 million bonus or whatever from his publicly traded company? So they're like, well,

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do you know the amount of guys who can do that specific job? You can count on one hand in the

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entire planet, right? And so that is why? Because the supply demand dynamics for that specific role,

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right? And the value that's being created and the percentage that they negotiate, that's how that

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kind of money gets created. So you can make obscene amounts of money as both a business owner and

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an employee as long as you understand those three dynamics, all right? And as again, the added

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boned caveat to that is that those guys can make that kind of money because they're operating within

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

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can get 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. Bye!