Free Work Is Different Than Valuable Work | Ep 767

25 Sep 2024 · 7 min

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Podcast Summary: Free Work Is Different Than Valuable Work | Ep 767

Podcast Overview Title: The Game with Alex Hormozi Host: Alex Hormozi Description: The podcast focuses on entrepreneurship, customer acquisition, profit maximization, and lessons learned from Hormozi's journey to building a net worth from $100M to $1B.

Episode Overview Episode Title: Free Work Is Different Than Valuable Work Description: In this episode, Alex Hormozi discusses the misconceptions surrounding free work and its value in the marketplace, emphasizing the importance of understanding economics and value exchange in professional relationships.

Key Concepts and Discussions

Encounter at the Mall

  • Initial Interaction:
  • Hormozi recounts meeting an eager individual who expressed a strong desire to work for him for free.
  • The individual believed that his time and willingness to work could be a valuable exchange.

Insights on Opportunity and Value

  • Desperation vs. Value Understanding:
  • Hormozi reflects on the lack of understanding some individuals have regarding economic value.
  • He emphasizes that simply offering one's time does not equate to valuable work, especially for those already established.
  • Opportunists vs. Gatherers:
  • Distinction made between hunters (opportunists) who actively seek opportunities versus gatherers (passive individuals) who wait for chances to come to them.

The Importance of Skills

  • Value of Time:
  • Hormozi asserts that time is not a valued currency for those with money.
  • Individuals with less financial means may value time more, offering a potential starting point for aspiring professionals.
  • Skill Acquisition:
  • To gain meaningful opportunities, one must develop specific skills instead of just offering time.
  • Hormozi suggests that aspiring workers should focus on being the best at a particular skill to increase their chances of being hired.

Misunderstanding the Value Exchange

  • Cost of Onboarding:
  • Even if someone is willing to work for free, they still incur hidden costs for the employer, such as training and onboarding.
  • Employers prefer hiring skilled workers with proven capabilities to minimize risk.
  • Assumption of Opportunity:
  • Hormozi criticizes the notion that one can simply wait for opportunities without actively creating value.
  • He stresses the importance of being proactive rather than relying on chance.

Call to Action

  • Making Opportunities:
  • Encourages listeners to create their opportunities by developing skills and seeking out experiences rather than hoping for luck.
  • Ownership of Success or Failure:
  • Hormozi emphasizes personal responsibility, stating that individual success or failure is ultimately up to the person.

Conclusion

  • Hormozi's main message in this episode is about the necessity of understanding the dynamics of value in work relationships. Individuals should not only offer their time but must also seek to provide valuable skills that genuinely contribute to others' success.

Final Thoughts

  • "You have to fucking do it." Hormozi concludes with the reminder that success requires action and personal accountability, affirming that while guidance can be beneficial, the onus of achievement rests on the individual.

Additional Resources

  • For further insights and resources on scaling businesses, listeners can visit [Acquisition.com](https://www.acquisition.com/workshop-yt).
  • Follow Alex Hormozi on:
  • [LinkedIn](https://www.linkedin.com/in/alexhormozi/)
  • [Instagram](https://www.instagram.com/hormozi/?hl=en)
  • [Facebook](https://www.facebook.com/alex.hormozi)
  • [YouTube](https://www.youtube.com/c/AlexHormozi)
  • [Twitter](https://twitter.com/AlexHormozi?s=20&t=J9vPh75tO3ow9xExYLsBDQ)

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Transcript

Automatic transcript. May contain errors.

0:01So Laila and I are walking around an outdoor shopping mall and this guy kind of walks up to us relatively in shock. And he was like, holy cow, it's you guys. I will do anything to work for you. And I was like, you know, we're good, man. Appreciate it, though. And he's like, no, I'll do anything. Like, this is my opportunity. And I was like, I appreciate it. Thanks again, man. you know just keep hustling whatever and he said no like there's no way that like you guys can't just take somebody else who can like take your coffee for you or like take the trash out and I was like nah man we're good and uh you know the guy was kind of following us a little bit and so I think he got the hint and then eventually just kind of like went on his own way but you know it got me thinking about this for probably another like hour after that I just kept thinking about basically the combination of desperation and ignorance that and to be clear I don't think that there was any kind of like weird intent or anything like that but if you want opportunity, you don't wait for it to come to you.

1:22You have to hunt. So opportunists are hunters, they're not gatherers. And me walking in front of this guy, he lacks the idea that his time isn't that valuable to me. And so by saying, hey, I'll give you my time in exchange for basically your time. Like, how could you not want that deal? So basically he says, I'll work for free if you educate me. And it's like, I have no lack of people who can get my coffee and take my trash out. This is not a very difficult skill to find. And I'm also very willing to compensate people with money to do that so that I do not have to compensate them with my time.

2:11And so I think the reason I wanted to make this was because it just demonstrated a fundamental lack of understanding of how economics works and how the marketplace works and how value exchange works. And I think that's why this individual was excited about this opportunity because he fundamentally doesn't understand. So it's kind of a chicken and egg problem and I can understand why he would do that. I also am making this podcast for everyone else who would be in that same situation and hopefully equip you with the right things to do, which is number one, offering your time means nothing to someone who has money, to be very clear.

2:48Number two, your time is valuable to somebody who has less money and then can't afford many people's time. And oftentimes that's somebody who's just a little bit ahead of you, which is a great place to start. Like the first internship I had, I didn't go for Jeff Bezos to be his secretary. That would have been amazing. But guess what Jeff Bezos' standards for his EAs probably are? Except for me, I. And for context, for the individual who's talking to us about, like, I'll bring your coffee for you. Leila and I have four EAs. Four. So, like, we have no lack of people who are attending to our, you know, personal needs to make sure that we have the most amount of time maximized.

3:37And they're trained by the older EAs on how to minimally invade our time and space so that we can work as much as we can. And I just, I bring this up because it was just like, it was just such this lack of understanding of how the world works, that all that this individual was saying was like, oh my God, this is such an opportunity for me. But if you want the other person to get excited, it's like you have to have it be an opportunity for them. And all I can hear is all the things that I'm going to do for you in your life. And that doesn't sound very compelling for me. And so I think that's where I just got very frustrated with this.

4:19Because you have to, if you're going to try and work someone for free, you're going to have to only work one or two steps ahead, not a hundred. and you have to bring something to the table besides just your time in your hands, right? Like you have to have other skills. And the idea that he was waiting for this to be the opportunity I thought was ridiculous because are you going to bet your whole life on somebody else walking into it? That's a terrible, those are terrible odds. And the vast majority of people who listen to my stuff probably won't randomly run into me, you know what I mean? And so you have to go make the opportunity.

4:56If he all of a sudden became the best at one particular skill, he could almost guarantee that we would hire him, right? And so it's like, why leave it to chance when you can guarantee the outcome by just being the best? And so, well, how do I become the best? You do shit. You try. And so this is what was top of mind for me. And no, this is not, I guess, a regular podcast, but it was just something that like, you got to hunt, you got to hunt and you have to make it about the other person. And this is the same thing with, you know, the people who were starting out trying to get their first customers.

5:35They're like, no one wants me to work for free. They won't even let me work for free. It's like, yeah, because the other costs are greater. The hidden costs are greater because anybody who's had a team, for example, knows that like, even if you bring in an employee who has experience. There's cost of onboarding. And the promise that we have is that this employee has the skill that they promised. And so we make that trade. If someone comes in and says, hey, I have zero skill. Please incur this cost of bringing me into your organization. Then no, even if you quote work for free, it still costs me money and it still costs me time.

6:13And there's no promise of upside. And my upside is that you want me to just go teach you everything. like come on like get the fuck out of here you know what I mean like I like I want to be you know we put this stuff out there that's that to help people uh to get started but you know I'm not a saint and I like to be very clear about my intentions like I'm here to make money and I try to build a positive brand by putting out lots of valuable stuff that helps people make money but you have to do it. You have to fucking do it. And at the same time, for everybody who comes, like, you know, I get people who come up to me and say, dude, I wouldn't be in the same place without you.

6:55I also like to push back. I'd be like, it's a hundred percent you. Like if you fail, it's on you. If you succeed, it's on you. It's all you. It's not me either way. So that's Alex's rant of the day. Appreciate you guys. Keep slaying and I'll catch you guys on the next podcast

From the publisher

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned and will learn on his path from $100M to $1B in net worth.

Want to scale your business? Click here.

Follow Alex Hormozi’s Socials:

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