Es gibt zwei Wege, etwas zu lernen

0:00There's two types of things that you can learn. And so if you're trying to pay down ignorance, you got to know what you're buying. So, you can learn about something, something that exists that you didn't know existed, and then you can learn how to do something. And so, one is called declarative knowledge, knowledge of existence. The other is called procedural knowledge, which is knowing how to do it. And so if I explain to you that private equity exists and this is how you can buy, package, and sell a business for a lot of money, now you know about it.

0:28Which is a prerequisite for learning how to do it. And so when you buy into access to networks, to people, to relationships, the primary thing that you're learning is learning about things that exist. They're going to tell you tax strategies, investment strategy, marketing strategy, sales strategies, business models that you haven't heard of. That is what you learn there. But if they tell you those things, you leave and you get excited, but then you're like, well shoot, how do I do it? Which is the second thing that you learn how to do, which is the how part. And so when you're going into any kind of investment, whether you're investing time, you're investing trade, you're doing some work for someone so they do work for you back, or you're investing money, you better be sure what you're buying.

1:08And the interesting thing about those two types of knowledge is that the declarative knowledge tends to teach you things that you didn't know existed. It's the unknown unknowns. That is why some of these are the biggest breakthroughs when you get into those rooms with someone making 10 or 100 times more than you. They see the world in a different way. Whereas when you go for how-to, it's more predictable what you're going to get because you're specifically trying to learn how the skill is. You know it exists and you just need to clarify the steps to getting there. And so just delineating what you're trying to learn will help you actually learn it. So the first time I learned declarative knowledge was that Facebook ads existed. That was in 2013.

1:44And so I learned how they how they worked and I learned just enough to make them work. So I learned declarative knowledge that they existed and I learned how to do them in one weekend. Super valuable. Now, I was able to ride that skill set for a couple years until I was like, "You know what? I need to learn how to do this at a bigger scale." I wanted to go national with started gym launch with the turnarounds. And so I was like, "I need somebody cuz I'd only run local ads." Which by the way are much easier than national style ads. And so I tried to go all around asking people for help. And at this point I had probably used up the relational capital that I had before. So I called a bunch of agencies. All of them said they were going to charge me too much money that I could afford. And then finally I just asked one guy, "Hey, instead of your monthly rate of $5,000 a month which I couldn't even come close to affording at the time. I was like, "Can I just pay you per hour?" Now of course he said, "I don't trade my time for money." Except of course he works overtime and then he gets money later. But sure, anyways. He doesn't trade time for money. And I said, "It's America. Everything's got a price." And he said, "You know what?

2:41$7.50 an hour. I'll do it." And I was like, "Done." Now mind you, $7.50 an hour was still a ton of money for me. And so I showed up like it was Harvard on steroids for these calls cuz I I would prep for the call. I had my notes out. I recorded it. I was like I had two people there to be like, "Make sure I don't miss anything." Right? And so I would go and I had him first document the process of what he did to run ads as though he were me. Then I had him demonstrate it. So he clicked the buttons so I could see what he was doing and I had him stop and explain to me each of the steps so I could put it into my little checklist too. And then finally I duplicated in front of him.

3:15Which means document, demonstrate, duplicate. I then did in front of him to make sure that I was doing it right. And so once I did it right and I did it right multiple times in a row and I didn't need him to to to correct me while I was doing it, that's when I had mastered the skill. It took me eight sessions. So it took me eight hours and whatever that is times $7.50 in order to learn. Real quick, if you're a business owner and you're not growing as fast as you'd like, I'd like to give you a free gift. So my team and I put together the $100 million scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly where they got stuck and how they got past it.

3:53And so, we broke it in these 10 stages, and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at, and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources, and finance. And so, no matter what you're struggling with, someone else has already struggled with it and solved it. And so, I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information, and if you want us to actually help you de-constrain the business, and you're trying to scale, we'd love to help you out. On the thank you page, you can just book a call with my team, and we will look at your business, see if we can help, and if we can, we'll invite you out to Vegas, and we'll do this in person, live.