🩵 Who values you the most?
Hello! Adam Thornhill here. ‘The Podcast Guy’ saving you 10 hours a week.
Enjoy the 72nd Podup with the best bits from The Game w/ Alex Hormozi.
What’s the true value of your startup? Alex Hormozi’s tale of ‘The father, the son, and the car’ shows your startup’s worth is tied to the value others place on it. Knowing this can unlock the right opportunities for founders and clarify whether or not you’re playing the right game to begin with.
The father, the son, and the car
A father gifts his son an old beat up car. He says ‘I don’t know if it drives or not but you can take it to the dealership to see if you can make some money.’
The son goes to the dealership and they offer him $1,000 for it. He comes home, tells his Dad, and his Dad says ‘Go to the impound yard where they break up cars for metal. See what they’ll give you.’
The son goes there and is offered $500 for it. He comes home, tells his Dad, and his Dad says ‘Go to that antique dealership. See what they’ll give you at their used car lot.’
He talks to the guy, comes home, and says ‘Dad, you won’t believe it! This is a rare car. There’s only 10 of them left. It’s worth $100,000!’
The father smiles and says ‘The lesson I want you to know is that it’s not necessarily who you are but the people that value you the most.’
Alex Hormozi
Knowing where to fish
You’ve seen the meme where a small client says ‘So what exactly am I going to get for this $50 thing?’ Whereas a $50,000 client says ‘Wire sent yesterday. What else do you need?’
There’s a skill in understanding where to fish. The people who move faster in life don’t actually move faster. They get more for every step.
Alex Hormozi
Why it matters
Many founders limit their potential by sticking to low-value opportunities for too long. Instead of rushing into the best idea you have at the time, be patient and scout for those level 10 opportunities.Â
The best way to unlock growth is not by moving faster or working harder, it’s by selecting a game that values your unique skills the most. Ask yourself ‘Where can my skills yield the most returns?’ It may be best to take the short term hit and change games altogether.
Next steps
The greatest challenge is being aware of the other games that exist. So, how do you broaden your horizons?
Feed your curiosity. Start listening to entrepreneurship podcasts like My First Million. Learning from diverse business models and stories can inspire you to explore new opportunities.
Study new industries. Actively seek information about businesses you’re less familiar with - be it database, blue-collar, or franchise businesses. This knowledge can open up new ponds for you to fish in.
Evaluate and pivot. Analyze your current situation compared to where you’re fishing now. If your pond doesn’t hold the biggest fishes, don’t hesitate to pivot and refocus your efforts.
Your thoughts?
Thanks to Apollo.io for making this post possible…
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Quotes were pulled at different points of the episode. Sentences were left out to make the narrative more concise. Podup is not associated or affiliated with any podcast.