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These are the user uploaded subtitles that are being translated: 1 00:00:00,000 --> 00:00:02,840 Here are brutally honest truths that will give you an unfair advantage. 2 00:00:03,480 --> 00:00:05,077 I'm Alex Samosi, the founder of Acquisition. 3 00:00:05,160 --> 00:00:05,320 Com. 4 00:00:05,403 --> 00:00:07,397 It's a portfolio of companies that generate hundreds of millions of 5 00:00:07,480 --> 00:00:09,240 dollars in revenue per year in aggregate. 6 00:00:09,600 --> 00:00:12,200 A lot of my success in business has come from finding 7 00:00:12,400 --> 00:00:14,080 and exploiting unfair advantages. 8 00:00:14,520 --> 00:00:16,560 Hopefully, this video helps you do the same. 9 00:00:17,000 --> 00:00:20,000 Let's start with number one, pain is the price of progress. 10 00:00:21,840 --> 00:00:24,640 The fastest growth periods are often the most miserable. 11 00:00:25,160 --> 00:00:27,680 If you want to progress, get used to pain. 12 00:00:28,120 --> 00:00:31,160 If you think about what actually occurs when you grow, you stretch 13 00:00:31,480 --> 00:00:32,917 past your point of comfort. 14 00:00:33,000 --> 00:00:36,240 Even if you're growing a muscle, you stretch, you break it down, it's painful. 15 00:00:36,480 --> 00:00:40,197 If you have growing pains, like as a kid, it's like you grew too fast and your 16 00:00:40,280 --> 00:00:41,480 joints are in a lot of pain. 17 00:00:41,840 --> 00:00:45,637 If you're a company and you expand, this is technically supposed to be good 18 00:00:45,720 --> 00:00:47,600 stuff, but it doesn't make it any less painful. 19 00:00:48,000 --> 00:00:51,040 Elite athletes don't get stronger during easy workouts. 20 00:00:51,400 --> 00:00:56,800 If we want progress, we must accept the price of pain that's attached to it. 21 00:00:57,160 --> 00:00:59,720 You cannot both want progress and live an easy life. 22 00:01:00,200 --> 00:01:01,320 These two things conflict. 23 00:01:01,800 --> 00:01:04,920 Number two, happy but not satisfied. 24 00:01:05,440 --> 00:01:06,700 Let me explain this. 25 00:01:07,280 --> 00:01:11,800 You're allowed to be happy before you hit your goal, just not satisfied. 26 00:01:11,960 --> 00:01:14,960 There's a very big difference between being content with your life, 27 00:01:15,160 --> 00:01:17,877 content with your work, and complacent, meaning you're not going 28 00:01:17,960 --> 00:01:18,920 to take any more action. 29 00:01:19,003 --> 00:01:22,680 There's this great Haitian proverb, which is, behind mountains are more mountains. 30 00:01:23,160 --> 00:01:26,200 It's like after every peak, you can just see more peaks ahead of you. 31 00:01:26,360 --> 00:01:29,437 The work works on you more than you work on it. 32 00:01:29,520 --> 00:01:32,357 For me, I remember I had a year that I basically went in retirement trying 33 00:01:32,440 --> 00:01:33,760 to figure out what I wanted to do. 34 00:01:33,843 --> 00:01:37,680 The thesis that I came out with was that hard work is the goal. 35 00:01:38,000 --> 00:01:41,197 The fact that there's something that happens as a result of hard work 36 00:01:41,280 --> 00:01:42,917 is really just a secondary effect. 37 00:01:43,000 --> 00:01:44,000 It's a consequence. 38 00:01:44,520 --> 00:01:46,040 But the goal is the work itself. 39 00:01:46,320 --> 00:01:48,837 I had a friend this morning who messaged me and they're like, 40 00:01:48,920 --> 00:01:49,560 Why do you still work? 41 00:01:49,643 --> 00:01:51,960 I was like, Because it's the thing that I enjoy doing most. 42 00:01:52,043 --> 00:01:55,197 When I looked back on my life, when I didn't work, 43 00:01:55,280 --> 00:01:57,120 I was bored and felt depressed. 44 00:01:57,480 --> 00:02:02,157 When I do work, I am stressed But I do have moments that I really enjoy as well. 45 00:02:02,240 --> 00:02:05,720 I took this as a a foundational truth for me, not for everyone, 46 00:02:05,880 --> 00:02:09,080 that there is misery on both sides, so I might as well be productive and useful. 47 00:02:09,163 --> 00:02:13,877 The only way to be productive and useful is to be happy about the process but not 48 00:02:13,960 --> 00:02:17,400 satisfied so you can continue to provide value to the world. 49 00:02:17,760 --> 00:02:20,437 Now, number three, ignore critiques. 50 00:02:20,520 --> 00:02:24,797 Now, this is probably easy to say, hard to do. 51 00:02:24,880 --> 00:02:26,997 Let me break this down a little bit more. 52 00:02:27,080 --> 00:02:30,920 So friendly reminder that most people are fat, poor, pansies, 53 00:02:31,240 --> 00:02:33,680 don't listen to them when they try to deter you from doing 54 00:02:33,763 --> 00:02:35,197 whatever it takes to succeed. 55 00:02:35,280 --> 00:02:37,920 So the average person will always try to keep you average. 56 00:02:38,003 --> 00:02:40,917 It makes sense that if you want to be extraordinary, 57 00:02:41,000 --> 00:02:44,960 you will do things that an ordinary person would see as extra. 58 00:02:45,440 --> 00:02:49,240 A lot of people, and this is the really hard part that I had to come to terms 59 00:02:49,760 --> 00:02:52,480 with, is that a lot of people want to see you fail because it justifies 60 00:02:52,563 --> 00:02:54,437 the risk that they chose not to take. 61 00:02:54,520 --> 00:02:56,277 We always have to think about listening to the people who are closest 62 00:02:56,360 --> 00:02:57,880 to our goals, not closest to us. 63 00:02:58,440 --> 00:03:02,000 If you want a more violent version of this, your critics 64 00:03:02,640 --> 00:03:06,837 are going to eventually die, and their opinion isn't going to matter 65 00:03:06,920 --> 00:03:09,320 then, which means it probably also doesn't matter now. 66 00:03:10,640 --> 00:03:12,380 So might as well do what you wanted to do originally. 67 00:03:12,760 --> 00:03:15,280 Number four, selective product Productivity. 68 00:03:18,560 --> 00:03:21,760 Productivity comes from all the things that you choose not to do. 69 00:03:21,960 --> 00:03:24,000 I'm going to define two more terms for you because I think it's important. 70 00:03:24,083 --> 00:03:26,840 I see commitment as the elimination of alternatives. 71 00:03:27,360 --> 00:03:30,037 If I get married, then I eliminate all alternatives 72 00:03:30,120 --> 00:03:31,640 to the person that I'm married to. 73 00:03:31,723 --> 00:03:36,357 That is commitment, which is very similar to focus. 74 00:03:36,440 --> 00:03:39,117 Focus, if you think of the hypothetical extreme of focus, is that somebody 75 00:03:39,200 --> 00:03:40,637 does literally nothing but one thing. 76 00:03:40,720 --> 00:03:42,917 They don't eat, they don't sleep, they would eventually die, 77 00:03:43,000 --> 00:03:46,080 but they would be 100% focused during the time that they were alive. 78 00:03:46,200 --> 00:03:47,680 Obviously, we have to put a couple of things in. 79 00:03:47,763 --> 00:03:49,717 You have to eat food, you have to sleep. 80 00:03:49,800 --> 00:03:52,957 But the most focused person does the fewest things outside 81 00:03:53,040 --> 00:03:54,400 of the thing they're focused on. 82 00:03:54,600 --> 00:03:57,880 Focus is about the number of things that you say no to. 83 00:03:58,560 --> 00:04:01,877 Having this framework work is, in my opinion, 84 00:04:01,960 --> 00:04:04,437 more powerful for productivity than just about anything else. 85 00:04:04,520 --> 00:04:07,040 People are always trying to figure out productivity hacks, 86 00:04:07,400 --> 00:04:10,160 but they want to add things to their lives to become more productive, 87 00:04:10,243 --> 00:04:12,680 which is completely counter to what focus even means. 88 00:04:13,120 --> 00:04:16,120 It's getting rid of everything that's not the thing is how you focus. 89 00:04:16,760 --> 00:04:18,640 Now, part of that also means environmentally. 90 00:04:18,723 --> 00:04:22,477 If you have a window that you look outside of, and you've got people who walk past 91 00:04:22,560 --> 00:04:24,277 your office, and people can knock on the door, 92 00:04:24,360 --> 00:04:26,277 or you've got Slack notifications, of course, you're not focused because 93 00:04:26,360 --> 00:04:28,080 all of those things are not the work. 94 00:04:28,600 --> 00:04:29,940 I'm going to give you an analogy here. 95 00:04:30,200 --> 00:04:32,200 Imagine there's a wall that you have to get over. 96 00:04:32,600 --> 00:04:36,320 You have to get a critical mass to get above this wall. 97 00:04:36,760 --> 00:04:42,357 And so you start putting up these ladders against the wall to try 98 00:04:42,440 --> 00:04:44,640 and climb over the wall. This should make some sense. 99 00:04:45,280 --> 00:04:48,920 But as you try to build up the little rungs of the ladder, 100 00:04:49,160 --> 00:04:50,320 so you put four rungs up. 101 00:04:50,560 --> 00:04:53,797 Well, you're not going to get the critical mass required to get over the pump 102 00:04:53,880 --> 00:04:55,360 to actually get the success you want. 103 00:04:55,760 --> 00:05:00,317 But the idea, the fallacy is that, Oh, I'll just do all three or four of these 104 00:05:00,400 --> 00:05:02,637 four of these things and I'll see which one works. 105 00:05:02,720 --> 00:05:05,320 When the reality is that any of them work, but none of them will work 106 00:05:05,403 --> 00:05:06,760 unless you work on one. 107 00:05:07,400 --> 00:05:09,997 We have to take these four rungs that we're able to build 108 00:05:10,080 --> 00:05:12,157 and say, You know what? We're not going to do that. 109 00:05:12,240 --> 00:05:14,157 We're going to put that rung here because I'm going to take that time. 110 00:05:14,240 --> 00:05:16,320 Then I'm putting from I got a second opportunity to put it here. 111 00:05:16,403 --> 00:05:18,720 I'm going to take this rung and put it right here. 112 00:05:19,000 --> 00:05:21,477 Then I'm going to take this rung, and what do you know? 113 00:05:21,560 --> 00:05:24,877 I can get over this hump on top, and I can get to the other side 114 00:05:24,960 --> 00:05:27,320 of the wall, which, of course, is where all the money and all 115 00:05:27,403 --> 00:05:32,037 the happiness and all the girls with beautiful hair. 116 00:05:32,120 --> 00:05:34,160 Look at this beautiful hair. This beautiful hair. 117 00:05:34,243 --> 00:05:35,620 Now, she looks like a bug. 118 00:05:36,160 --> 00:05:37,660 Anyways. Hold on a minute. 119 00:05:37,880 --> 00:05:39,360 There you go. 120 00:05:40,680 --> 00:05:43,380 What's crazy is that this literally happens at all levels of business. 121 00:05:43,480 --> 00:05:45,557 People who are starting out, trying to start five things, people 122 00:05:45,640 --> 00:05:46,840 who are at their second or fifth year. 123 00:05:46,923 --> 00:05:49,680 I talked to a guy last night who has a really good business, 124 00:05:49,763 --> 00:05:52,597 really good margin, 50% margins, has great revenue retention. 125 00:05:52,680 --> 00:05:55,157 He was in cybersecurity. People stay with him. 126 00:05:55,240 --> 00:05:56,757 People pay. He has no problem getting customers. 127 00:05:56,840 --> 00:05:58,520 He has no problem delivering them. I was like, What's the problem? 128 00:05:58,603 --> 00:06:01,077 He's like, Me. He said, I just I get bored. 129 00:06:01,160 --> 00:06:02,200 He's like, I just want to start more things. 130 00:06:02,283 --> 00:06:04,920 I'm like, Yeah, you got to stop that. 131 00:06:05,240 --> 00:06:08,920 The thing is, think about how much more successful you'd be. 132 00:06:09,200 --> 00:06:10,280 So zoom all the way out. 133 00:06:10,680 --> 00:06:13,920 Think of somebody who gets better every single year and works 134 00:06:14,200 --> 00:06:16,040 on the same project for 20 years. 135 00:06:16,880 --> 00:06:19,400 You'd be like, My God, that guy's probably really fucking good. 136 00:06:19,720 --> 00:06:23,317 What's interesting about this is that it doesn't matter what project 137 00:06:23,400 --> 00:06:24,240 the person works on. 138 00:06:24,323 --> 00:06:27,240 You do 20 years of reps and you do nothing else, you're going to be good. 139 00:06:28,520 --> 00:06:30,557 If you know that That's a fact. 140 00:06:30,640 --> 00:06:33,900 That's a certainty that you're going to be good with 20 years of practice. 141 00:06:34,000 --> 00:06:36,760 Then the objective is to just get 20 years of practice in one 142 00:06:36,843 --> 00:06:38,640 thing and stick with it. 143 00:06:39,000 --> 00:06:41,877 So your plans aren't working because the plans are wrong. 144 00:06:41,960 --> 00:06:44,700 The plans aren't working because you're not working on the plan. 145 00:06:44,840 --> 00:06:48,357 The hard part about the plan is not creating the plan or 146 00:06:48,440 --> 00:06:49,480 even following the plan. 147 00:06:49,563 --> 00:06:50,880 It's sticking with the plan. 148 00:06:51,320 --> 00:06:53,120 That's the hard part. All right. 149 00:06:53,360 --> 00:06:57,440 Number five, fear versus regret. 150 00:06:57,680 --> 00:06:59,880 Change is scary, but so is regret. 151 00:07:00,120 --> 00:07:02,840 The life you live depends on the one you fear most. 152 00:07:03,440 --> 00:07:06,560 The more successful version of yourself also has fear. 153 00:07:07,000 --> 00:07:11,920 It's that your fear of regret is greater than your fear of rejection. 154 00:07:12,280 --> 00:07:14,040 Think about that for a second. I'm going to say it one more time. 155 00:07:14,123 --> 00:07:19,037 Your fear of regret must supersede, must be bigger, must be greater 156 00:07:19,120 --> 00:07:20,960 than your fear of rejection. 157 00:07:21,360 --> 00:07:24,877 I remember when I quit my management consulting job, which took me six months. 158 00:07:24,960 --> 00:07:27,360 I'm not saying this from a pedestal. It took me six months. 159 00:07:27,443 --> 00:07:29,117 I decided I wanted to quit. 160 00:07:29,200 --> 00:07:31,197 It took me six Six months before I actually quit. 161 00:07:31,280 --> 00:07:34,760 By the way, you can measure how powerful someone is by the distance between when 162 00:07:34,843 --> 00:07:37,120 they make a decision and what happens in reality. 163 00:07:37,400 --> 00:07:40,877 If you want to feel impotent, then take as long as you possibly can 164 00:07:40,960 --> 00:07:43,300 between when you make a decision and when you act on that decision. 165 00:07:43,520 --> 00:07:44,917 Now, for me, it was six months. 166 00:07:45,000 --> 00:07:46,597 All I did was I called my friends up every night. 167 00:07:46,680 --> 00:07:48,440 I was like, I'm going to quit my job. I'm going to start a business. 168 00:07:48,523 --> 00:07:50,717 We talk every night, literally every night, 169 00:07:50,800 --> 00:07:53,200 and I would be pacing in my condo like, I'm going to do it. 170 00:07:53,320 --> 00:07:55,080 I wouldn't do it. I was too afraid. 171 00:07:55,320 --> 00:07:56,637 I was too much of a scaredy cat. 172 00:07:56,720 --> 00:07:58,840 But the thing that got me over the hump was this. 173 00:07:58,923 --> 00:08:02,560 Number one, I knew that when I looked back on my life, 174 00:08:03,080 --> 00:08:06,480 if I never took the jump, I would have been ashamed of myself, 175 00:08:07,400 --> 00:08:08,720 and I would have felt like I was a pansy. 176 00:08:08,803 --> 00:08:10,340 I was like, I can't die a panse. 177 00:08:10,640 --> 00:08:12,397 I have to be able to make a jump. 178 00:08:12,480 --> 00:08:15,877 Number two, I played out plan B, which is, okay, let's say 179 00:08:15,960 --> 00:08:17,560 I actually completely fail. What happens? 180 00:08:17,760 --> 00:08:20,520 I was like, Well, I'm not really going to be homeless. 181 00:08:20,960 --> 00:08:22,837 I know enough people that I can get food. 182 00:08:22,920 --> 00:08:25,517 I was like, okay, so I'll probably just couch surf. 183 00:08:25,600 --> 00:08:26,717 I'd have a little bit of shame. 184 00:08:26,800 --> 00:08:28,237 But at the end of the day, what would I really do? 185 00:08:28,320 --> 00:08:30,780 Well, I could always apply to get the job that I I had back, 186 00:08:30,960 --> 00:08:35,557 or I could just go to another place with an experience or a story that would 187 00:08:35,640 --> 00:08:36,880 set me up for something cooler later. 188 00:08:36,963 --> 00:08:40,557 All of a sudden, I was like, Wait, so my plan B is that I just have a cool 189 00:08:40,640 --> 00:08:43,760 experience that I could talk about at a job interview or to go to business school? 190 00:08:43,843 --> 00:08:46,040 Okay, that doesn't actually sound that bad. 191 00:08:46,280 --> 00:08:48,557 There was this huge amorphous fear. 192 00:08:48,640 --> 00:08:51,520 But I've just noticed in my life that fear only exists in the vague. 193 00:08:52,240 --> 00:08:53,640 It doesn't exist in the specific. 194 00:08:53,880 --> 00:08:57,357 If you're afraid of something, try and break it into pieces and spell it out. 195 00:08:57,440 --> 00:08:58,917 Play out the next two or three steps. 196 00:08:59,000 --> 00:09:01,600 Because all of a sudden, if you're in the developed Western world, 197 00:09:02,760 --> 00:09:05,680 the downside risk is not really real. 198 00:09:06,360 --> 00:09:09,957 The only real downside risk is the opinions of other people who will say 199 00:09:10,040 --> 00:09:12,300 that you failed, who you don't care about anyways. 200 00:09:12,480 --> 00:09:15,560 But you think you're going to die, but you're not. 201 00:09:16,040 --> 00:09:18,837 You're just going to learn some stuff, and you'll be like, Oh, maybe next time 202 00:09:18,920 --> 00:09:20,797 I'm not going to make that mistake. That's it. 203 00:09:20,880 --> 00:09:23,437 I say this, and it's easy for me to say, but it took me six months 204 00:09:23,520 --> 00:09:24,160 to figure this out. 205 00:09:24,243 --> 00:09:27,677 But I do remember my final straw was the realization that I had at the time, 206 00:09:27,760 --> 00:09:32,517 no girlfriend, no kids, and I had no real financial 207 00:09:32,600 --> 00:09:35,560 responsibilities besides eating and having a place to live. 208 00:09:36,040 --> 00:09:40,640 I said, If I can't make the decision now because it feels too risky, 209 00:09:41,000 --> 00:09:42,540 I will never be able to make the decision. 210 00:09:43,160 --> 00:09:45,197 Because if other people rely on me... 211 00:09:45,280 --> 00:09:49,640 Now, some you, and you're like, Well, Alex, I've got people who rely on me. 212 00:09:50,480 --> 00:09:52,720 Yeah, I would say that it makes it harder. 213 00:09:53,720 --> 00:09:55,760 And what now? Harder and so what? 214 00:09:56,800 --> 00:09:58,700 But for me, that was the thing that got me over the hook. 215 00:09:59,360 --> 00:10:00,000 It was like, If I. 18786

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