Watch This To Get Ahead In 2026

Name: Watch This To Get Ahead In 2026
Uploaded: 2025-11-30T20:12:01.000Z
Duration: 2 h 20 min 30 s

Business Lessons from a Successful Entrepreneur

Overview of Experience and Achievements

The speaker has 14 years of business experience, managing a portfolio that generated over $250 million in revenue last year.

Recently set a world record for the fastest-selling non-fiction book, earning over $106 million in under three days.

Shared tactical advice with 100 business owners, covering various aspects of business including sales, marketing, hiring, productivity, and mindset.

Key Business Lesson #1: Understanding Discipline

True discipline is not about enjoying what you do; it's about consistency in tasks you may not like.

Many fitness business owners claim to be disciplined but often neglect essential tasks like lead management.

Enjoying activities (like working out or spending time with loved ones) does not equate to discipline; it highlights personal preferences instead.

Building frustration tolerance is crucial; it involves doing things without immediate rewards and developing this skill can enhance your business success.

Committing to consistent outreach efforts (the "rule of 100") can significantly transform your business if maintained over time.

Key Business Lesson #2: Overcoming Inaction

Most entrepreneurs know what they should do but fail to act due to an inability to delay gratification or lack of knowledge on execution.

People often stick to familiar routines because they feel safer than venturing into new territories despite wanting growth.

Clear articulation of actions is necessary for effective communication; vague requests can hinder progress for those with lower skill levels.

Teaching complex concepts requires breaking them down into simpler steps tailored to the recipient's understanding level.

Many individuals struggle with the complexities behind simple terms like "outreach," which encompass numerous underlying skills and processes.

Understanding the Pain of Entrepreneurship

The Nature of Uncertainty in Entrepreneurship

Entrepreneurship often feels slow due to the inherent uncertainty; learning can take time without immediate outcomes.

Tolerating uncertainty is crucial, as it brings pain and doubt about whether investments (time, money, effort) will pay off.

Unlike a marathon with a clear endpoint, entrepreneurship lacks defined milestones, making it feel torturous to many.

The fear of not knowing when challenges will end discourages many from starting their entrepreneurial journey.

Mindset and Self-Awareness

A key skill for growth in business is self-awareness; understanding personal strengths and weaknesses helps navigate conflicting advice.

Judging whose advice to follow can be challenging; what works for one may not work for another based on individual resources.

Self-awareness allows entrepreneurs to choose products and information that align with their constraints effectively.

Commitment and Focus

High levels of commitment are necessary; tackling problems requires an all-in approach rather than half-hearted attempts.

When addressing issues like sales, it's essential to explore multiple avenues aggressively until the problem is resolved.

Consistency and Volume

Consistency in actions leads to success; witnessing others' dedication requires being present consistently oneself.

Volume of effort is often underestimated; achieving goals demands more repetition than most anticipate.

The Reality of Hard Work

Many people fail to grasp how much hard work is required; if they understood the distance to their goals, they might hesitate to start.

Entrepreneurial Focus and Patience

The Journey of Growth

The entrepreneurial journey often feels unfathomable, with progress appearing just out of reach. As one improves, the realization dawns that the goal is further than initially perceived.

Most business wisdom can be distilled into two key principles: focus and patience. These are essential for navigating distractions in entrepreneurship.

Managing Distractions

A conversation with a friend who inherited wealth highlights that sometimes waiting is the most profitable action an entrepreneur can take.

Doing nothing requires significant willpower; entrepreneurs must recognize this as a valid form of action to avoid unnecessary distractions.

Idea Management Strategies

Jeff Bezos emphasized the importance of idea management, stating he could generate numerous ideas that could potentially harm his company. Entrepreneurs must learn to filter these ideas effectively.

To manage his many ideas, the speaker maintains a document titled "Alex's big list of ideas," where he fleshes out concepts but refrains from acting on them immediately.

Evaluating Ideas Over Time

After some time away from an idea, it becomes easier to assess its viability objectively. Emotional attachment can cloud judgment during the initial excitement phase.

An analogy from "The Blind Side" suggests that if an idea continues to resonate after some time has passed, it may be worth pursuing further.

Scaling and Talent Acquisition

As businesses scale, manpower becomes a limiting factor; attracting top talent is crucial for growth. Entrepreneurs need to build credibility to attract high-level professionals.

The transition from being a solo star in business to building a team of talented individuals involves proving one's capability and creating an environment where stars want to stay.

Building a Strong Team Culture

Successful entrepreneurs become collectors of talent by treating their team well throughout their journey. This fosters loyalty and creates a strong culture within the organization.

Scaling Your Business: The Importance of Hard Conversations

The Journey to Finding the Right Talent

The process of building a successful team often involves hiring and firing many individuals who may not meet expectations before finding the right fit.

Entrepreneurs with prior business experience tend to scale their new ventures faster due to improved pattern recognition from past challenges.

Understanding the different roles within a sales-driven organization is crucial; knowing what each position entails helps in identifying suitable candidates.

Hiring mistakes can lead to repeated failures until the right candidate is found, emphasizing the importance of recognizing effective traits early on.

Each level of business growth requires solid foundational elements, and missing one critical component can hinder progress for years.

Embracing Difficult Conversations

Having hard conversations about performance is essential for organizational success, even if it means parting ways with likable individuals.

The distance between current status and desired goals often correlates with one's willingness to engage in tough discussions regarding performance issues.

Strategic Planning and Long-Term Vision

Individuals should focus on developing a strategic competitive advantage by understanding their scaling process through available resources like workshops or roadmaps.

Success often favors those who are patient and willing to endure challenges over time; this long-term perspective can yield significant rewards.

Learning from Industry Leaders

Elon Musk exemplifies someone with a long-term vision, having pursued his interests since childhood, which has contributed significantly to his wealth and success.

While not everyone may have such an extensive time horizon as Musk, setting realistic 3-to-5-year plans can help guide personal and professional development.

Focus on Immediate Goals

For many entrepreneurs, concentrating on immediate financial milestones (e.g., growing revenue from $100K to $1 million annually) is more practical than distant visions.

Achieving initial financial goals provides resources and skills that enhance future planning capabilities, allowing for clearer insights into business realities.

Entrepreneurship and AI: Insights on Wealth and Business

The Relationship Between Wealth and Prediction

As individuals accumulate wealth, it is often due to their enhanced ability to predict future events, which leads to greater financial success.

Entrepreneurship serves as a significant avenue for personal development, providing immediate feedback on decision-making accuracy.

Perspectives on AI's Impact

AI will not fundamentally alter the essence of business but will transform the tools available to entrepreneurs and potentially the players themselves.

Leverage in business is defined as the ratio of output to input; with AI, businesses can achieve higher leverage, leading to unprecedented opportunities.

The Evolution of Tools in Business

Historically, human progress has been characterized by "man plus tools" against "man plus tools," with current advancements simply enhancing existing tools rather than replacing humans entirely.

Sales Strategies: Pricing Models

Effective pricing strategies include targeting either high-end customers with expensive products or offering low-cost options for mass markets; middle-ground pricing often fails.

Selling high-margin products to affluent customers maximizes profitability while serving lower-income customers requires scalable solutions.

Challenges in Serving Low-Income Markets

Catering to low-income consumers can be challenging due to their limited financial resources; even moderate prices represent a significant portion of their income.

Maximizing Revenue Potential

Entrepreneurs should focus on high-value clients who are willing to pay more for quality services rather than trying to serve a broad audience without sufficient capital or skills.

Expectations Management in Sales

Serving lower-income clients can lead to unrealistic expectations that drain resources and morale; it's crucial to manage these expectations effectively.

Timing in Sales Offers

The timing of sales is critical; selling at moments of greatest need (deprivation), rather than when value is highest, significantly impacts success rates.

Sales Strategies: Understanding Deprivation and Value

The Concept of Deprivation in Sales

The speaker discusses the importance of timing in sales, emphasizing that even if a product is valuable, it may not sell if the customer isn't in a state of deprivation.

To effectively sell two steaks, one should identify when the customer feels most deprived (e.g., starving), rather than when they are already satisfied.

Motivation to take action is driven by feelings of lack or deprivation; for example, people are more motivated to sleep when exhausted or eat when hungry.

In a monetary context, perceived deprivation must be built up to motivate customers; feeling poor among wealthier peers can drive motivation to improve one's financial situation.

Selling Without Revealing Secrets

Many fear that giving away too much information will deter purchases; however, most people won't buy but will judge based on free content quality.

It's crucial to differentiate between teaching and pitching; understanding what type of knowledge to share at each stage is essential for effective selling.

Types of Knowledge in Education

There are two types of knowledge: declarative (knowledge about something) and procedural (how to do something). Declarative knowledge is used for selling while procedural knowledge is what you ultimately sell.

Teaching how things work conceptually provides value without overwhelming customers with actionable tasks they need to complete themselves.

Breaking Down Complex Concepts

An example illustrates how explaining the financial benefits of increasing revenue can captivate an audience without teaching them how to achieve it directly.

Declarative knowledge offers immediate value as it requires no action from the audience, unlike tactical teachings which necessitate follow-up actions.

Training Sales Teams Effectively

A common issue arises when one star salesperson dominates sales volume while others lag behind; this inconsistency hampers team scaling efforts.

To replicate success across a sales team, it's important to break down successful strategies into detailed steps and train frequently for consistency.

Sales Training and Process Optimization

Importance of Comprehensive Sales Training

The speaker emphasizes that many businesses underestimate the amount of training required to develop a world-class sales team, suggesting that extensive reinforcement cycles are necessary for effective skill duplication.

At Acquisition.com, the sales team undergoes daily training sessions, including role-playing exercises and weekly one-on-one meetings with managers to focus on individual improvement.

Role Playing as a Training Method

The speaker discusses the effectiveness of role-playing in sales training, stating it provides the fastest feedback loop for trainees.

A specific memorization technique is described: trainees read a script aloud while progressively blacking out words until they can recite it from memory without prompts.

Feedback Mechanism in Training

During role-play sessions, immediate feedback is crucial; interruptions are encouraged to correct mistakes on-the-fly rather than waiting until after the exercise.

The concept of "locking it in" is introduced, where successful execution of a task is reinforced through repetition immediately after receiving feedback.

Adherence to Scripted Processes

The speaker argues that most sales teams have loose scripts which lead to inconsistent performance; adherence to a well-defined process is prioritized at Acquisition.com.

Exceptional sales training can transform any individual into a high performer if sufficient effort is invested in their development.

Cultural Implications of Star Salespeople

The potential issues with having star performers who operate outside established processes are discussed; such individuals may disrupt team dynamics and long-term success.

Branding and Influence

Understanding Branding's Role

Branding is framed as creating positive associations with an audience that increases their likelihood of purchasing or engaging with your business in the future.

Building Positive Reinforcement Histories

Effective branding involves establishing a history where previous positive actions lead to beneficial outcomes for customers, enhancing compliance with future requests.

Framework for Gaining Influence

A four-part framework will be introduced later in the discussion aimed at helping entrepreneurs gain influence beyond mere reach and views.

Understanding the Four Components of Influence

Overview of Influence Components

The four components of influence are summarized as SPCL: Status, Power, Credibility, and Likeness.

Status refers to the number of reinforcers one controls that others desire.

Power is defined by the correspondence between what one says and the positive outcomes that follow when instructions are followed.

Credibility involves having third-party validation for one's claims or advice.

Likeness indicates how similar an influencer is to their audience, which can significantly affect influence.

Interplay Between Components

Each component operates independently but can be combined for greater influence; possessing all four enhances overall impact.

An example illustrates that a wealthy individual (status) who provides successful stock tips (credibility and power) will likely have more influence than someone without these attributes.

If an influencer shares personal traits with their audience (likeness), they are more likely to be listened to compared to someone who does not share those traits.

Building Influence Through Content

Strategies for Gaining Influence

To gain influence, it’s essential to demonstrate as many components of SPCL in content as possible.

The speaker introduces themselves and their credentials at the beginning of videos to establish status and credibility quickly.

Martha Stewart is cited as a pioneering influencer who built her brand by providing actionable advice that led to positive outcomes for her audience.

Importance of Branding

A strong brand is crucial for establishing influence; it creates associations between known and unknown entities through positive outcomes.

Branding involves teaching audiences about new concepts while maintaining existing positive associations.

Effective branding requires balancing losses from old associations with gains from new ones, aiming for a net positive outcome in audience perception.

Understanding Branding and Business Constraints

The Elements of Branding

Effective branding involves balancing gains and losses; the goal is to have more net positive responses than negative ones.

Key elements include reach (how many people see the brand), influence (the likelihood of compliance with requests), and direction (the nature of that influence).

A strong brand combines large reach, high influence, and a positive direction, exemplified by parental influence which has high impact but limited reach.

The Brand Loop

Once a brand reaches a certain level, it can make offers without guarantees based on past customer satisfaction, fostering trust.

This cycle reinforces itself: advertisements create interest, personal recommendations increase likelihood of engagement, but individual experiences ultimately determine perception.

Marketers often rely on testimonials from satisfied customers to drive sales; however, this can lead to cycles of disappointment if subsequent products fail to meet expectations.

Identifying Business Constraints

Recognizing and addressing the main constraint in business operations is crucial for scaling; this is often referred to as the bottleneck in processes.

Many business owners mistakenly focus on perceived constraints rather than identifying the actual limiting factor affecting growth.

Framework for Addressing Constraints

A six-part framework helps identify constraints effectively through systematic questioning about why more cannot be done within the business context.

The fundamental question revolves around understanding limitations; recognizing that doing more of what works is typically the best course of action for growth.

Emphasizing existing successful strategies increases chances for further success compared to exploring untested methods.

Understanding Constraints in Business Growth

The Importance of Experimentation

Emphasizes that experimentation often leads to failure, as new ideas rarely succeed. A focus on "more" can yield better returns when adjusted for risk.

Common Reasons for Limiting Growth

Lists five common reasons people cite for not being able to do more in their business:

Market limitations

Metrics constraints

Model issues

Financial restrictions (money)

Resource limitations (manpower)

Market Limitations and Opportunities

Discusses the misconception of market saturation, using an example of a lounge in the Sahara Desert to illustrate how location can limit growth potential.

Suggests that even if a business is limited by its current market, there are opportunities to replicate success in different markets.

Data and Metrics as Constraints

Highlights the importance of having metrics to understand what "more" means; without data, businesses cannot identify areas for growth.

Stresses that once data is available, it becomes easier to strategize and implement growth initiatives.

Evaluating Business Models

Addresses concerns about whether a current business model is suitable long-term; many entrepreneurs question if they are pursuing the best opportunity based on their skills.

Introduces the concept of "features versus bugs," explaining that every business has challenges. Switching businesses may not eliminate difficulties but rather replace them with new ones.

Understanding Business Challenges

Explains that all businesses face unique challenges—some are supply-constrained while others are demand-constrained. The presence of competition creates additional constraints over time.

Argues against the notion of finding a perfect business without constraints; every venture will have its own set of problems requiring solutions.

Problem-Solving as Value Creation

Proposes that solving significant problems within a business can lead to substantial financial rewards. For instance, developing efficient recruitment processes could add millions in enterprise value.

Concludes by reinforcing that overcoming difficult challenges is essential for creating value and achieving success in any business endeavor.

The Long Game of Business Success

Understanding the Value of Patience in Business

The speaker asserts that all businesses have their challenges, but with persistence, one can achieve significant wealth over time. An example is given of a neighbor who owns Panda Express and has built substantial wealth through long-term commitment.

The neighbor's business model is highlighted, showcasing five locations generating $3 million annually each with 27% margins. This emphasizes the potential for growth if one remains dedicated to their business.

The speaker critiques the common advice to scale quickly, suggesting instead that sustained effort over decades can lead to massive success—illustrating this with the potential for $3.7 billion in sales after 45 years.

Acknowledging that many people expect rapid success within three years, the speaker encourages thinking in longer time horizons where true wealth accumulation is more feasible.

The discussion shifts to market opportunities; those in low-opportunity markets may face less sophisticated competition compared to high-stakes fields like AI, which are dominated by top talent and resources.

Identifying Barriers to Growth

The speaker addresses common reasons why individuals feel they cannot do more in their businesses: high lead costs, low sales volume, or inadequate customer lifetime value (LTV).

It’s noted that some businesses may not realize they lack a backend system despite making initial sales. This oversight can mask profitability issues stemming from ineffective customer acquisition strategies.

Churn rates are discussed as another critical factor; even if acquisition costs seem high, poor retention can negate profits. Solutions may involve improving messaging or onboarding processes.

In cases where leads are deemed too expensive (e.g., insurance), strategies such as enhancing creative quality and optimizing conversion rates must be explored to reduce costs effectively.

Finally, the conversation touches on operational limitations—businesses might struggle not due to market conditions but because they lack sufficient personnel or resources to meet demand effectively.

Understanding Manpower Constraints in Business

The Cycle of Metrics and Market

The speaker discusses the importance of understanding manpower constraints within a business model, emphasizing that metrics should be prioritized before market considerations.

A lack of metrics around talent recruitment can hinder efforts to increase manpower, highlighting the need for data-driven approaches in hiring.

Addressing Talent Acquisition Challenges

The speaker raises concerns about whether job offers are compelling enough to attract talent, suggesting that businesses must evaluate their compensation structures.

Emphasizes the significance of making the right hires and training them effectively as a high-leverage activity for business owners.

Management Diamond Framework

Introduces the "management diamond" framework to address why employees may not complete tasks, identifying common reasons such as lack of clarity or knowledge.

Discusses how to identify barriers preventing task completion, including competing priorities and personal motivation issues.

Self-Reflection and Personal Accountability

Encourages self-reflection using the management diamond framework to understand personal productivity challenges and identify actionable steps for improvement.

Highlights the importance of recognizing external factors that may block progress, such as time spent on customer service issues.

Keyman Risk in Business Operations

Explains "keyman risk," where reliance on a single individual (often an entrepreneur) can become a liability due to their unique skills or knowledge.

Stresses that while expertise is valuable, it can also create operational vulnerabilities if not managed properly.

Understanding Business Scaling and Hiring

The Challenge of Hiring Talent

Entrepreneurs often expect to hire individuals who possess the same skills and dedication as themselves, yet they offer significantly lower compensation.

The analogy of a unicorn is introduced; instead of seeking a perfect candidate, businesses should aim to create an approximation by combining various talents (e.g., using parts from different animals).

Creating a Scalable Business Model

If a business requires someone as skilled as the owner to operate, it may not be sustainable. Instead, hiring someone with half the skill can allow for scaling while sacrificing some profit margins.

The concept of "scale zero" is discussed: achieving growth without personal involvement. For example, reducing personal margin but increasing overall company revenue through effective hiring.

Time Management and Role Identification

Conducting time studies helps identify daily activities that can be delegated or outsourced to improve efficiency.

Using AI tools like GPT can assist in determining necessary roles based on current activities, helping entrepreneurs understand what positions need filling.

The Hiring Process and Learning Curve

Initial hires may not meet expectations due to lack of experience in identifying talent; however, persistence in hiring will eventually lead to success.

Continuous evaluation and adaptation are crucial for reaching higher business milestones despite initial setbacks in hiring.

Understanding Business Culture

Many entrepreneurs struggle with defining culture within their organizations, which complicates efforts for improvement.

Culture is defined as the set of spoken and unspoken rules governing behavior within an organization. These rules dictate rewards and consequences for actions taken by employees.

Improving Organizational Culture

To effectively change culture, one must first clearly define it; understanding existing rules allows for targeted improvements.

Observing behaviors over time helps clarify how cultural rules function within an organization, enabling better management strategies.

Codifying Behavior and Values

Approaches to Codifying Rules of Behavior

The speaker discusses two paths for codifying behavior rules: a comprehensive approach versus a quicker, simpler method. They prefer the detailed approach that captures all aspects of organizational culture.

The speaker suggests chunking numerous rules into three core statements or values that encapsulate desired behaviors, making it easier to communicate and enforce them.

For a faster method, one can define three values and describe them succinctly. However, the speaker emphasizes the importance of thoroughness in understanding behavioral conditions within specific contexts like meetings.

An example is given regarding meeting etiquette at acquisition.com, where not participating while muted could lead to severe consequences, highlighting the need for clear engagement rules.

The process involves identifying interaction conditions and establishing rules of engagement that reflect cultural values. This should be consistently applied by leaders in new environments.

The Concept of "Death Creates Clarity"

The phrase "death creates clarity" is introduced as a means to prioritize what truly matters in life and business decisions.

Writing a eulogy serves as an exercise in prioritization; it reveals what is genuinely significant versus trivial concerns we often stress over.

Reflecting on eulogies leads to insights about legacy—what will be remembered about us after we are gone—and challenges conventional measures of success like wealth or status.

The idea of a reverse obituary prompts individuals to consider their own legacies through service and character rather than material achievements.

Ultimately, everything done should align with the traits necessary for serving meaningful causes effectively, reinforcing how contemplating mortality can sharpen focus on life's true priorities.