My Guide For Doing Business With Friends | Ep 773

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 7 October 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

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Transcript

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0:00.0	Welcome back to the game where today I will be talking about doing deals and
0:04.3	doing deals with friends and how to navigate that whether that's partnerships,
0:08.4	employees, customers, any kind of dealings that you have.
0:12.1	What I've learned that will hopefully benefit you.
0:15.6	So I was talking with a friend earlier today and he had made this kind of vouch for somebody that we knew and that I thought was a scumbag.
0:26.0	He sent over this thing that indicated that I was indeed correct, he was a scumbag.
0:32.0	And he said something back which I found really funny he said normally I'm a very good judge of character
0:37.6	he said except for you know that one and I said well I too am correct except for the times that I am not correct. It then
0:44.2	precipitated a much longer conversation that I thought I would share with you
0:46.9	because I think it's relevant especially if you do business with vendors over an
0:50.9	extended period of time or you're you're looking to interview you know for
0:54.3	employees or roles within the business or you're looking to get into like a
0:57.6	partnership longer term for business in general so I'll share this little ism
1:01.7	that I have which is do deals with friends as though their enemies so that they stay friends
1:06.7	It's a pithy statement, but there's a lot to unpack within it and the first thing is is that I have been screwed enough times that I assume that I know nothing and that fundamentally if you can be fooled then it's not that you have skill
1:20.9	It's that you don't control all the variables which means that someone can still
1:25.2	fool you in the future and so the idea of like well I bat 80 percent it's like well
1:29.6	the 20 percent can still destroy everything you gain from the 80. I operate from basically
1:35.3	trust no one but hear me out this isn't some like dark whatever video that's not
1:40.0	the point here. If you operate with friends as though they are enemies, as though they are strangers,
1:46.7	then everything you have is upside. I think people are always surprised when they see someone's quote true colors but what it really is is that you
1:55.8	get to see someone's true values when there are stakes and so I've talked about this
	...

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