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0:00I will tell you that should, in my worldview, should not exist. Because should creates expectations of an uncaring universe. It says that you demand something, and I promise you that the universe will win. And so, all you have to do is watch like baby seals just get immediately eaten by orcas after like a mother's laying there on the ice to be like, "Wow, life isn't fair." I'm sure that seal could be like, "It's not fair that my babies were literally eaten in front of me." Tough, right? Tough. They have animal brains, we can see that. They got They got some feelings, right? And so, if we go back to the sword of Gryffindor, does demanding that it should be fair make you stronger? Does saying that that person started further ahead of you in any way benefit you? No.

0:44Because your actions are entirely independent from them. And so, the only thing that that does is actually delay your speed of taking action. It makes you dumber. Because if we define intelligence by rate of learning, then it means it takes you longer to learn. It makes you stupid. And I think that that's why people stay here for a very long time. And many of them never leave. So, what are the things that bad entrepreneurs talk about with good entrepreneurs? Is one of the excuses they'll make is that they will make preference excuses. They will make trade-off excuses. They will say, "This is not worth the price." In which case, fine, but don't also want the thing. So, for example, privacy is the price of fame. Loneliness is the price of ambition. Pleasure is the price of discipline. Novelty is the price of loyalty. Discretion is the price of trust. And so, so many people want the benefits of these traits, but can't afford the cost or the price. They're not willing to be discreet, but they want someone to trust them. They can't hold someone's secrets. They They want somebody to be loyal to them at home, but then they want the thrill of the new relationship. They want the benefits of discipline, of consistency, but they can't trade the pleasure in the moment.

2:01They want ambition, but they're not willing to pay the price of being lonely, of being the exception. They want fame, but then all of a sudden they are startled when they realize that they have no privacy. And so, each of these things are trade-offs. And if you're not willing to make the trade, fine, but don't about it. And And I think part of it is that we have a hard time understanding to what degree. And so, each of these ideals are not binary. It's not discretion, it's how much discretion you have. It's not novelty, it's how much novelty. It's not pleasure, it's how much pleasure. It's not loneliness, it's how long. And it's not hard work, it's how hard do you have to work? And how long do you have to work? And so, most people, and I think this is where a lot of the complaints come, is that they believe they're doing 10 out of 10 work, right? They're like, "I'm doing This is 10 out of 10 hard for me right now."

2:52But they're actually only doing 1/10 of the amount of work that it takes to get to this goal. And so, they might be doing a 10 out of 10 work for a 100k goal, but they're doing a one out of 10 work for a $1 million goal. And I think a lot of that work comes down to being able to accurately assess reality and see where your actual discrepancies are and realize how much work you really have to do in order to get good at every one of those discrepancies. Because most outcomes don't occur until you've met all of the conditions, like a pipeline.

3:25All right? So, let's say you've got this pipeline here, and you've got these valves. These are the valves, you've got this water that's coming here, and let's say once you get all the way through, the water comes out the other side. These valves have to open. You have to open this thing, open each of these valves, and let's say you've checked off three of the four boxes. The water's still going to be stuck here. You're still not going to get the water through. And so, the thing is is that as much as you work, and you're like, "But I did that, and I did that, and that didn't work, and that didn't work." It may have worked, it just might not have met every condition to get the outcome.

3:57And so, if you think about life and outcomes that way, it gets a lot easier because it stops being emotional. You can simply say, "There's a condition that I haven't met, and I have to figure out what that condition is." Rather than proclaiming that the universe isn't fair, or that you you started further back, and that's why your effort hasn't resulted in it. Maybe, and maybe this person only has to meet three of these, and you have to meet four. Okay. Well, then I guess that means that you're going to be better than them.

4:25Why is that a bad thing? It means that you're going to develop more skills to achieve the same goal. Great. If the end of this life is that you are the steel, you are the thing that gets created, then you can't resent the hammer and the fire that makes you. Because you can't wish for strong character and an easy life. Because the price of each is the other. So, either people aren't succeeding because they don't understand that they have to make a trade that they're not willing to make, or the trade that they're currently making isn't sufficient. So, they either think that they deserve to get the Nike shoes just for being who they are, and think it's not fair, and think that the store owner should just give them the Nike shoes. And look, all you have to do is look at the news, there's plenty of people who think that way. They go and try and take it, right? But that makes them a thief. That makes them significantly worse. It actually does more harm to them, in my opinion. But there are people who believe that.

5:10That's the worst, that's the lowest level. The next level above that is people who are say, "No, I'm willing to pay for the Nikes, but I'll pay 30." It's like, "Yeah, but they're they're 300. That's the price." It's like, "Yeah, but I'll pay 30." They don't extend They understand the extent of the trade-off. And then they complain that their $30 isn't good enough. "It shouldn't be so expensive." It is what it is. And so, there's a saying that Leila and I say a lot internally, like, "It takes what it takes." And so, if we want this thing, what often has to happen is you have to keep bidding. It's much more like an auction of a trade-off. Because the real world level three is that you see the Nikes, and then you bid 30, and then you realize it's not enough. And rather than moan or put your thing down and walk away, you're like, "50?" And they're like, you're like, "100?"

5:55You're like, "Ah." And so, that is the pain is being able to consistently reset the expectations and bid again and again and again until eventually you make it all the way through, and you bid $300, you do get your Nikes, and then all of a sudden everyone says, "Must be nice to be born so naturally good." All you have to do, by the way, is watch some of my very first content pieces, and you think my very first content pieces are the podcast that I made. The very first content pieces that I made, I made for my gyms 13 years ago. And so, it's like, "Man, you're so naturally good on camera." Watch those videos.

6:34Tell me if you think the same way. I had to take shots before the videos cuz I was so nervous about sounding stupid. And the fourth version, I'd say like the highest version of this. So, let let Let's I'll I'll I'll break this down. So, the zero level of trade-offs is should. You just say you should get it for nothing. The next level is too much. So, you say it's 30 bucks, but it's actually 300, and you say it should. The next level is bidding. So, you bid.

7:00So, you say 30, 50, 100, and you find out that you're insufficient, and you keep going up. The final is source, which is where you determine the price. And this is often, in my opinion, where you create your reality. So, it's continuing to hammer away at content, continuing to write drafts of the book before anyone else has seen it, because you are the one that holds the standard higher than everyone else's. Because no longer do you accept the approval of others as your litmus test. The market, for sure, in the beginning will tell you whether you're good or not. But Steve Jobs, Henry Ford, right? They would have asked for faster horses, not cars. Is that they demand more from themselves than anyone else does. And by setting that standard here, where everyone else is here, by actually meeting the standards of the market, you actually lower your own. And so, this is where your standards become source. And this is where you get into rarefied air. And this is what the quote rich guys, if you will, when we talk behind closed doors about what people don't understand, it's about holding the standard. And in my opinion, the person who should make the decision in every organization is the person who has the highest standards, not the person who's most senior, not the person who has the most shares, it's the person who has the highest standards for whatever it is. Our marketing should be at this level. If the owner thinks it's less than that, person should be the person who's running marketing. If somebody else thinks the product needs to be this good, and someone else thinks it should be less, that person should be in charge, whether it's their first day or their thousandth day.

8:25The person who has the highest standards is the one who should be making the decision. They should become source. And so, when you get to that level, the only person you're making trade-offs with is yourself. You're the one who's determining is this good enough for me to put my name on, rather than is this good enough for them to say it's good. And for example, J.R.R. Tolkien worked on The Hobbit for a decade, and he didn't even submit the draft. One of his friends saw that he'd been working on it for a decade and submitted it, grabbed it from his desk, and submitted it for him to a publisher.

8:55And then it obviously became The Hobbit and and and everything came after that. And so, his standards were so high that he still didn't even think it was ready, but it was still so good that they ended up releasing it. Now, many of you think that you are J.R.R. Tolkien, but most of you are not. It's actually just very bad. And so, once you realize how high your standards really have to be in order to be excellent, will you then have this daunting realization is that you can only do two or four things in your whole life because of how long it really takes to get to there.

9:28And so, it's like, "I want to be best author in the world." That's not a desire of mine, to be clear. But if I wanted to be the best author in the world, then I know that that's going to take at least a decade of actually working hard every single day to get better. And believing that for me, because I'm special, I should somehow be able to be my first book is an overnight success and and and and That is the thing that chains you to mediocrity. It's believing that it should be a different way, rather than accepting reality as it is, and then changing your actions as a consequence. And so, this is also why lazy people distract themselves.

10:03Because distraction makes you believe the lie that you can try a hundred things and then figure out which one works. When in reality, any of them can work, but none of them will work unless you pick one to work on. And then that is you making it work. The vast majority of things with enough iteration can become success. It's just that people underestimate how many iterations they need to have. It's 19 drafts, not two. It's 500 minutes of editing to make the video, not 50. It's making a thousand phone calls every week for two years, not two months. And so, most of the times, it's just that our level of understanding it's it's here. And this is where a lot of people get stuck. A lot of people get stuck here. They say, "I should be better. This should be easier. I've already paid a little bit. I said I was willing to pay 30. The Nike store owner won't give me the shoes." And then you continue you basically are the same as this person, you just have a price attached to it. "I should I should it should be I deserve I am worth."

11:05Takes what it takes. It costs what it costs. You got to be willing to make the trade. Real quick, if you are a business owner and you are 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 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. And 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 acquirethis.com/roadmap, plug in your business information, and if you want us to actually help you deconstruct the business and you're trying to scale, we'd love to help you out. On the thank you page, you can book a call with my team and we will look at the 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.