Alex Hormozi On Rejection and Failure

Byjack

The first step is to say “it’s my fault”. Second step is to use what you have.

Make the pain in the future worse than what is in the present or you will feel the pain from yesterday because you pushed it today.

Patience is about figuring out what to do in the meantime.

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Drafting out My Disclaimer

Byjack

Intro goal:

  • Create a disclaimer for my hot takes channel
  • Make people understand why I’m doing what I’m doing
  • Make it ok for people to disagree and debate

It is important to talk about controversial issues because controversial issues are controversial because they are important issues. I have strong opinions and will say exactly what I mean and be very direct. I am not an expert on everything. I can be wrong and you can disagree with me. I might also change my mind, this is just what I believe right now.

Outro goal:

  • Get them thinking deeper
  • Get engagement

What came up for you during this video? What is your hot take? Add to the conversation in the comments sections below. I read everything.

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AI Answers My Questions

Byjack

AI

Before I can provide informed answers to your list of questions, it would be helpful for me to understand more about your background, current situation, goals, and resources. Please allow me to ask you some questions to gather this context:

  1. What is your current profession or line of work? Do you have experience running businesses before?
  2. What specific skills, expertise, or qualifications do you possess that are relevant to the potential AI consulting or art coaching businesses?
  3. Do you have any existing client base, network, or portfolio to build upon for these businesses?
  4. What are your primary motivations or goals in starting these businesses? Is it mainly for income, personal fulfillment, or a combination of factors?
  5. What is your current financial situation? Do you have savings, investments, or other sources of income to support yourself as you build these businesses?
  6. How much time and effort are you able to dedicate to these business endeavors on a weekly or monthly basis?
  7. Do you have any partners, team members, or support system in place to assist with these business ventures?
  8. What is your level of expertise or familiarity with AI technologies, and what specific areas of AI are you most knowledgeable about?
  9. For the art coaching business, what is your artistic background, medium, or areas of expertise?
  10. Have you conducted any market research or identified potential target audiences for your services?

Please provide as much relevant detail as possible in response to these questions. The more context I have about your specific situation and goals, the better I can tailor my advice and recommendations.

Me

  1. I currently work as an AI consultant where I do advisory and coding services for large companies. I also do a little coaching of artists on the side.
  2. I studied art for many years, went to a magnet art program in high school, and got a full ride to college for art. I have also started a non-profit children’s magazine when I was in middle school with my sister that used comics and cartoons to talk about social issues. The magazine is no longer running but when it was, we won over 26k in grants. I studied art and mechanical engineering in college, and worked in the software industry for over 6 years and have focused the last year on generative AI and large language models.
  3. I do have an art portfolio, I don’t really have a strong client base, maybe a 2 or 3 who may not be ready to by. I am working on my network, I do have some connections on linkedin that I have not fully tapped into. I estimate maybe 20 or 30 solid connections on linkedin (even though I have over 1000 total connections).
  4. It was personal fulfillment, I feel art coaching makes me really happy, I want to see more artistic masterpieces in the world and I feel I’m really good at coaching. AI is also really interesting for me and I think I’m really skilled at designing clever AI solutions.
  5. Yes, I have a 40k emergency fund, 120k in stocks, and about 35k in cash. I also still do some AI contract work that nets me about 4k per month (which about covers my living expenses)
  6. I have to work 24 hours per week on the AI contract, I’m willing to dedicate another 24 hours on these ventures
  7. I don’t really have anyone. I do have a girlfriend who is supportive but she doesn’t really understand the space. I have a life coach, and also a good friend who also wants to start businesses.
  8. I have a pretty advanced level of knowledge when it comes to generative AI and more basic knowledge on AI in general for other types of machine learning
  9. My background is in painting, but I also sing, play the piano, dance and write
  10. I did a bit of market research for my Art coaching business. It told me that people struggle with a couple of things: balancing art with a different fulltime job, they miss a community, and sometimes need inspiration

AI

Thank you for providing such detailed context about your situation. Based on the information you’ve shared, here are my thoughts and recommendations:

  1. What should you focus on first?
    With your background in both AI and art, I would recommend focusing initial efforts on building up your art coaching business first. This aligns with your passion, leverages your artistic expertise directly, and can be a lower-risk entry point compared to starting an AI consulting firm from scratch.
  2. How to divide what you want to do into steps?
    For the art coaching business: 1) Build out service offerings and pricing 2) Create marketing materials and online presence 3) Tap your existing network for first clients 4) Continuously improve/expand offerings based on client feedback

For AI consulting: 1) Define your niche and unique value prop 2) Build case studies from past work 3) Network and prospect for clients 4) Decide pricing/engagement models

  1. AI or Art Coaching?
    Focus primarily on art coaching initially, using your passion as a competitive advantage. Maintain AI skills through contract work while validating the coaching business.
  2. Should you do AI consulting?
    Yes, AI consulting can be very lucrative, but wait to fully commit until the art coaching business has traction. Use contract work to learn the consulting landscape.
  3. Finding a partner?
    Having a partner can be helpful for AI consulting eventually, but for art coaching, it’s better to lead solo initially to control vision and branding. Hire contractors/staff later if needed.
  4. Legal business setup?
    For simplicity, operate the art coaching under a sole proprietorship to start. Incorporate (LLC or Corp) for AI consulting when you’re ready to go full-time.
  5. Make life easier?
    Prioritize optimizing your energy and focus. Batch routine tasks, automate what you can, and protect deep work time for high-leverage activities.
  6. Marketing businesses?
    Art coaching: Build an online presence (portfolio site, social media, content marketing). Network locally. Get featured on relevant platforms/communities.
    AI consulting: Content marketing, networking, prospect outreach, referral partnerships.
  7. What are you missing?
    A formalized business plan and growth strategy for each venture. Dedicate time to properly scope, plan, and set measurable goals.
  8. Art coaching success without burnout?
    Set boundaries from the start. Limit number of active clients. Build passive income streams like courses/workshops. Focus on your unique methodology.
  9. Maintain AI expertise?
    The contract work helps. Also, publish content, study the latest research/trends, and collaborate on code projects with others.
  10. Make it fun while achieving goals?
    Celebrate small wins. Inject creativity into your work. Spend time with supportive people. And be sure to safeguard work-life balance.
  11. Something to start succeeding at today?
    Update your portfolio site and start promoting it. Reach out to warm connections about art coaching services. Attend/participate in art events.
  12. Are your goals properly scoped?
    Your goals seem reasonable, though having finite milestones will help measure progress. Adjust as needed based on traction.
  13. Speed up progress today?
    Conduct a time audit. Identify low-leverage activities to reduce/eliminate. Also, batch similar tasks for efficiency.
  14. Make a lot of money in a month?
    With your skillset, freelance AI projects could generate sizable income quickly, though likely requiring intense effort that month.
  15. Small shift for massive impact?
    Consistently publishing valuable content and leveraging your existing network can be high-impact, low-effort activities.
  16. What to hire out?
    Once cash flows allow, hire for time-consuming tasks that don’t directly generate value (administrative, marketing execution, etc).
  17. Make you happier/more successful today?
    Spend an hour reviewing your goals/vision. Realign your daily priorities accordingly. Then tackle one high-impact step for each business.

The key will be patience, persistent effort, and continuous optimization based on what data tells you. Let me know if any other questions come up!

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Profit In Peace 17: Preparation

Byjack

This morning I feel damn tired. And I feel stressed.

I know I have to pack my bags for home, check into my flight, and cook all the raw food in the fridge.

I also want to play more Valorant since I never have time for more than 2 or 3 games without interrupting my bedtime. I finally placed an alt account in Silver 1 and I’m loving it, not having to think very hard, just play for the fun of it.

I would also love to work on my French challenge and spend some time with the mimic technique. I was thinking last night about using connection theory to understand what it would take to think in French, instead of just being really good at translating in my head from English to French and the answer that came to me is that I just need to mimic a lot of French speakers, and not just mimic what they say, but how they say it.

Also, for today, right after my morning run, I would like to continue and finish my next section of my VOD review and perhaps plan out some posts for my art coach Instagram.

Just came back from my run and I have to say, I want to be out there more. A walk out in the world is a wonderful way to think through stuff.

A Sacred Thing

The biggest disservice that they did me

Was getting me onto the ideal of controlling

How others feel about me

Because controlling how others feel

Puts ME into a cage as well

The mask of their surface wants

Is forced upon my face

And I would trade my freedom

For their approval any day

I think, as I walk past people

That how someone feels about you

Is a sacred thing

There is no need to change how they feel about us

Just as much as we can seek to understand not control our own feelings

To look upon the world

Without fear

Means to own the world again

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Workpost 27: Business Inspiration

Byjack
  1. Start with what you love
  2. Learn how to do what you love doing better
  3. Find a partner to fill gaps within your execution
  4. Come up with simple execution plan
  5. Figure out where the revenue comes from
  6. Start with purpose, later you manage purpose not employees
  7. Delay gratification
  8. Culture has to be client centric
  9. Hacking luck is about persistence
  10. Taking risk increases luck
  11. How to deal with failure
    • Don’t let things own you
    • Do not let short term ego go (enjoy looking like a loser)
    • Learn to embrace getting a D
  12. Take your time
  13. Don’t ask yourself what you will do when you grow up, ask yourself what problem you want to solve
  14. Write down in detail what person you are looking for in a cofounder
    • Opposite of what you love to do
    • Same moral code
    • Post it everywhere
  15. Sell the sizzle, not the steak
  16. Build sales relationship
    • Do they need you?
    • Do you like them?
  17. Marketing is about experimenting and connecting with people over time
  18. Marketing is all about the process and the system
  19. Marketing is about having fun
  20. Write press release like its the actual story, do all the work for the journalist (high res photos)
  21. Lean into marketing for other brands you like and they can lead to brand sponsorship

Something I was thinking about in this video is how I love challenges, but I don’t like failures. But maybe the most important thing to do, or a really good outcome for a challenge is failure, and I can focus on failure if I want to. I think maybe a big part of failure, is unexpected outcomes. It isn’t important that you didn’t succeed at what you originally went for, but how you grew in the process of trying and discovering what unexpected things were on the other side.

The cofounder part is also really interesting in writing down what I want so I can recognize someone when I see them.

Sales relationships makes me think about reaching out with all my goals and involving people on a journey because that is the thing that interests me the most, it is the thing that I can connect with people on very easily and naturally.

Marketing is making me think that failure might also be about the story you can tell afterwards. The story is not about success, it is about the exciting hook and premise. Failure is one of the most interesting ends to a story, although it can be depressing.

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Profit in Peace 11: Moving On???

Byjack

Ok, I decided something weird that I’m not sure is going to work yet.

I decided that I’m going to keep this challenge going on forever and we will have different objective driving it constantly. It will be a sort of daily journal where I get to focus on Profit in Peace, finding my ikigai, tapping into my coaching energy, feeling into my body, working on my challenges, and discovering that the world is a magical place.

It will continue to be labeled like the other challenges, but it is different in the sense that it doesn’t have a specific end date. The end date might be just when this mentality, thinking of this as a Profit in Peace no longer serves me. Which might be never.

You know in a way this should be called Blog Post. Because it is the most blog post of blog posts. The sole purpose of these posts is literally to work on my life through my blog. But “Blog Post” just doesn’t evoke what I need for it to evoke, so we ain’t doing it.

So what is the focus for today?

Today we have a similar bent to yesterday but a little more focused on gaming. In no particular order, I want to:

  • Play lots of valorant and create poems about how I feel about dropping to gold 1 and STILL losing
  • Cook lots of food, be creative and have fun eating
  • Watching another 20 minutes of the VOD review
  • Work on my knee challenge
  • Go for a run

Yesterday, I went for a short run.

Here is a poem about it:

Tingling in My Back

That’s the feeling when I push myself

My knees not ready for the impact

I want to massage my stomach and back

I’m aware of others watching

I wonder if Alice would be embarrassed of me

I want people to like me

Especially the girls

I think about how I learned to control what other’s thought of me

And that’s when everything went to a place

Shaky and scary

I remind myself

What others feel

Is out of my control

I’m proud of my innovative knee exercises

They make my prickly knees

Feel warm and supple again

I just came back from my most recent run. Today I focused on processing the anxiety being surrounded by everyone’s opinions of me. I realized a couple of things.

Dr Bea Mackay

She told me an exercise

The same one

Every session

Breath in breath out

I realized

It isn’t about other people

They never mattered

Neither did their opinions

I’m them

As a trigger for my pain

The sharp inhale

To take the pain

The release of the exhale

Filling me with warmth

From head to toe

The point was never to win their approval

It was to feel my pain

It is so interesting how Dr. Bea Mackay’s exercises are so similar to Wim Hoff’s. And Wim Hoff’s exercises are about enduring and thriving in pain too, just his are about cold and her’s are about emotions. No wonder so many people talk about the Wim Hoff method bringing them relief from chronic anxiety.