If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $250,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job. 23 yrs old: Left my fancy consulting job to start a business (a gym). 24 yrs old: Opened 5 gym locations. 26 yrs old: Closed down 6th gym. Lost everything. 26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time. 26 yrs old: In desperation, started licensing model as a hail mary. It worked. 27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months. 28 yrs old: Started Prestige Labs. $20M the first year. 29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months. 31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal. 31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it) 31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit. 32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses. Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
Productivity is how much money you get out for the time you put in.
I know this because I went from $0 at age 23 to $100 million plus net worth at age 31
simply by better investing my time.
And I'm going to teach you how I do it so that hopefully you can do it.
And I'm even going to show you my calendar at the end of the video
and walk you through step-by-step how I get good returns on my time.
Have you ever had someone reach out to you and say,
hey, got a minute?
Hey, got 10?
Hey, let me introduce you to so-and-so.
They're going to be in town.
How does 10 a.m. work?
A normal exchange like that, you might say, yeah, I've got five minutes.
Or sure, I can meet so-and-so for coffee.
The problem is that for one specific type of worker,
that five-minute meeting blows their entire morning
because they can't do the development work they need.
They can't edit the video.
They can't write the book chapter because it disrupts their workflow.
On the other hand, there's another type of worker where for them,
it's actually very optimal for them to take that meeting.
The question is, which one are you and at what times?
Also, special shout out to Paul Graham who wrote a tiny blog on this 14 years ago.
So if time is what we invest and money is what we make from that investment,
then the people who are the best investors of time
are the ones who make the most money.
And so it turns out there are two specific types of entrepreneurs
and you'll switch hats throughout your day or throughout your week.
The first and most common investor of time that people are familiar with
is the manager's schedule.
And these people have a very specific way of investing time
and getting returns on it so they can make the most money.
So let's talk about that.
Managers divide their time into the smallest chunk possible.
They often have 20 plus chunks per day from 15 minutes,
sometimes five minutes, all the way to an hour or 90 minutes.
And for managers, an empty time slot is a lost opportunity.
That's time that did not get a return on investment for them.
And for that reason, they treat time like currency.
And the only real cost for them to fill
is just the cost of coordinating with somebody else's calendar
to find a mutually empty slot so that they can work together.
Now, on paper, since work on meetings is a mutually filled slot,
it makes both people more productive.
And so when a manager interacts with another manager
and they mutually fill a slot, both of them make more money.
Now, they talk to lots of different people
and do many different kinds of tasks all day long.
This is the nature of the manager.
They collect data.
They report data to persuade, to lead, to train and encourage
and make other decisions one-on-one and sometimes in groups of people.
For them, they have a pretty clear beginning of the day
and a pretty clear end of the day.
The day begins when they start preparing for their meetings,
maybe 30 minutes or an hour beforehand,
and it ends at the end of their last meeting.
Now, if they prep for the next day, then they could add that on top.
But more or less, the duration of their day
is directly proportional to the duration of the meetings they have.
They basically work until their last calendar slot.
And that's how their day works.
And this is the key point here.
The main objective of the manager is to use up all their chunks in the day
so that they maximize their time.
A fully booked day is a maximally invested manager.
They've used up all of their time slots and so they are productive.
Now, the second type of time schedule management
is something called the maker.
And this is one that the vast majority of people do not know.
This is where the creators, this is where the entrepreneurs,
this is where people who have to make big things,
who build stuff, get the highest returns on their time.
The vast majority of entrepreneurs at some point
have some or all of their time that's dedicated to making stuff.
This is the deep work.
This is the stuff that moves the big ball forward.
There are often tasks that are not urgent but incredibly important.
And when you look back on your month or your quarter or your year,
the few things that you remember that actually move the ball forward,
that actually move your business forward in the long term,
were these chunks of work.
Now, the problem is most entrepreneurs do not have the time
and do not have the system for maximizing that time of important work.
Because fundamentally, if those are the footholds
that allow you to push yourself forward towards your goal,
then you want as many of those as possible.
The difficulty is that it's never urgent.
This is like if you're a coder and you need to develop software.
Obviously, if that software is developed,
that's the most valuable thing you can do.
If you're an editor and you make videos,
then actually editing the video so that it can get out in media
is the most important thing that you can do.
If you write copy for emails or you're an author and you write books,
you actually writing the book and actually doing the work of the book
is the most important thing that you can do.
All of those things are maker work.
You create something that before this did not exist.
Although this work is important,
it's incredibly expensive in terms of time.
The problem is the vast majority of the world works on manager time,
not on maker time.
So let me explain the difference.
For the maker, when you get into maker mode,
instead of many small slivers like the manager has,
you have only a few large chunks.
The reason for that is because if you put a meeting
or you interrupt a four-hour long block,
then you often can't get back to the work that you were doing before.
Also, if you know that you have a block that's coming,
you can't get into the flow
because you know that you're going to have to get out of the flow.
And so this is like the end-of-day meeting that kills you.
This is called the Ziegernick effect.
It's that we tend to remember open loops and meetings are open loops
because you have to set timers so you don't forget it.
You have to start setting a timer before the timer to start wrapping up
even if you're cruising right now.
Then you start thinking about the meeting
and what you have to prepare for that meeting.
And now you're not thinking about your own work.
And this eats up your brain power and saps your ability to make.
Unlike the manager where the decisions,
the direction, and the coordination is the output of their work,
for the maker, the stuff, the things they build,
the things they make is the output of their time.
And so instead of working on meetings, they work off meetings.
They work on projects that can't get done in 30 minutes.
Sometimes those projects last weeks, months, quarters until they're done.
And so the way that that work actually looks
is that most makers have a set start time but variable end times.
So unlike the manager where they know when they start
and they know when they finish, most makers work open to goal.
If you've ever lost yourself in your work and you're like,
man, I just want to keep riding this high.
I want to keep riding this flow.
That's what it feels like to make.
You want to stay in there as long as you possibly can.
And that's why having no cap on the day
allows you to get lost in the work and produce more than you ever could.
So if you have only large time chunks,
that means that you only have one or two per day,
sometimes three if you're working 18 hours.
And so that means you usually have a morning block and a post-lunch block.
Now, if you're somebody who likes to also work after dinner,
then you have a post-dinner block.
So you basically have three, four to six hour chunks per day.
That's it.
And on a sustainable basis, most people just have two per day.
And so if someone takes one meeting in the morning,
they blew one of your 10 work blocks per week
if you only work five days a week.
And so someone's taking 10% of your total output by having one meeting.
The issue is that that manager who's working on manager time puts that thing in.
And for them, they're becoming more productive,
but they're destroying your productivity.
When this happens is when you finish your day,
feel like you look back and know that all your time was spent,
but you got no return on it.
You have nothing to show for it.
And if you feel like you have that happen again and again and again,
this is how businesses stay small.
This is how entrepreneurs fail to grow.
This is how they relive the same six months, same 12 months,
same two years over and over and over again,
because they do not know how to invest their time.
For the maker, an empty time slot is not a lost opportunity.
The empty time block is the opportunity to get the return.
If you're a maker, you understand what I'm about to share with you.
If you look at your calendar and see that you have literally nothing on there,
you have no meetings, you have no nothing.
It's just empty until the end of the day.
How much energy are you filled with?
You're like, oh my God, I'm going to crush this day.
There's all this big project.
I want to sink my teeth into it.
I'm going to be able to take a huge chunk out of it.
That energy that you get is because that is a maximally productive day,
is an empty calendar rather than a filled calendar.
And so for context, when I was writing my book,
my days every day were just writing the book.
And I told my team that that's all I was going to be doing.
Now you're like, but don't you run this portfolio of all these companies
and there's all this money and these deals and decisions that have to happen?
And the answer is yes.
And when I show you my calendar, it'll all make sense.
So literally, diametrically opposed calendars are both maximally
allocated to invest time to get the highest returns on it in terms of money.
The big problem is when the two need to interact.
Because if you just had makers making and you just had managers managing,
everyone would be happy.
The problem is when managers manage makers and they have to meet.
So when a manager doesn't know how makers work,
they kill the productivity of their team.
Managers often assume that makers can work like they do on demand.
They think it's, hey, it's just 30 minutes and you've got free time.
What's the big deal?
I looked at your calendar.
You have nothing all day.
You're barely even working because they're using their measuring stick of work,
their way a calendar looks when they're maximally effective.
And then transposing that on top of the maker's calendar and thinking
these two are the same when they couldn't be more different.
For a manager, a short meeting costs one work unit, which is maybe 15 minutes.
And for them, they've got 20 plus per day.
So they can easily spare one.
Whereas if they take one from a maker,
they take one of the two time slots you have per day.
And sometimes you take both based on what the topic of the meeting is.
If you say, hey, we're going to do your quarterly performance
as an employee at 2 o'clock in the afternoon,
the likelihood that the employee leading up to that is going to be able to think
about the work that they're going to do when they're worried about their job
or they're worried about their performance all day long.
And then afterwards, they're thinking about what they said
and what they could have said differently.
That day's shot.
To make matters worse, if a maker is falling behind,
the manager's solution is to interrupt them more,
which creates a vicious cycle.
This means managers prevent the work that they check in on.
So by checking in on them, they disrupt the maker's work
so that they can't actually make during the time slot
to check in if they're actually working.
Because the manager works while on meetings
where the maker works when they're off meetings.
And when this happens, and it happens often, both parties lose.
And this is the main point.
The manager loses because the maker is not making what they need to be making
and the manager is responsible for some level of output.
So both people aren't making the best returns on their time.
This is why this is important for managers and important for makers.
So if you are on a team, share this with your boss,
share this with your teammates,
so that this can become more common in the lexicon.
All my companies understand and use this language.
If you ask, as a manager, for a maker to make time for you,
they either, one, offend the manager by saying,
no, I can't do that because I'm working.
And the manager's like, well, I see that you have an empty time block
and I outrank you.
Or even if your peers, it's like, what do you mean?
You're not going to give me that time.
I see that it's empty.
By refusing them, they offend and they can incur other risks
by making that offense and declining the invitation.
This oftentimes damages the relationship
and decreases the likelihood of collaboration in the future,
which they might need.
You, as a maker, might need the buy-in of that manager.
And so you risk losing that goodwill by declining the invitation.
But by doing so, if you accept the invitation,
you destroy the morning, right?
And so option one, piss someone off.
Option two, destroy half your day.
A very terrible proposition.
And the crazy part is that even if you accept that meeting,
oftentimes the yield from that meeting is nothing.
Because the person who had the, do you have five minutes,
didn't really have an agenda, didn't really have a plan,
just basically said, I'm just going to steal your morning from you
and give you nothing back.
By the way, this totally applies to networking stuff too.
If you're like, hey, let me introduce you to John.
He's in the area.
You guys should meet for coffee.
Does 10 a.m. work?
I'm like, yeah, let's just destroy everything, right?
Let's just light my whole day on fire so that I can meet John,
who you think I have synergies with.
Maybe there's potential for a collaboration.
Let's explore opportunities together.
You know what's crazy?
I know what I need to do to make more money.
And I just need to do that.
I get asked all the time about what's the one habit that you have
that has been the highest predictor of your success?
And I really genuinely believe that it has been this,
is that I have been ruthless with my time.
Everyone who knows me knows that I am a dick with my time.
And the thing is, is that I've been able to maintain relationships
because during that maker time where I say no to everyone else,
I keep moving ---- forward.
Because I have a fundamental belief that as long as I continue to achieve
and I continue to make things that are valuable for the world,
those meetings, those connections, those synergies,
that friend dinner will always be there.
And that has proven right in my life.
And in the beginning, it was the hardest
because I didn't have the accomplishments to show for it.
But I truly believed.
I was like, I know that if I can get this stuff done
and I do it every single day for a year, two years, three years, five years,
if every day I move the ball forward,
that's the thing at the end of the month
when I look back on what I actually accomplished.
100% of it is stuff that I accomplished during maker time, not manager time.
And so once I realized that the maker time was where everything,
all the speed of me moving towards my goal was getting accomplished,
then I spent the rest of my time trying to optimize my life
and create a system around this
that allowed me to do as much of that as I possibly could.
And to be clear, there are roles in the business.
If you're CEO or COO from an operator perspective,
you're going to have more one-on-ones.
You're going to have more team trainings.
You're going to have more coordination and decision making.
That's required.
But you just have to be clear that you're not not doing your job
by not having maker time.
It's just that your job is the manager stuff.
And then the maker time you have is to get more leverage
on the remainder of your manager time.
And so Layla has a different schedule than I do.
She still has maker time,
but it's probably inverted in terms of her schedule.
For her, she has probably one maker day per week and four manager days,
where I have four maker days per week and one manager day.
And so you can have an inverted schedule.
But the important thing is that she has to have that maker day
because it's what gives her leverage,
gets her higher returns on the other four days of the week.
And then for me, I have to still do that manager day
because it gives me leverage on all the organizational decisions
that have to happen throughout the whole portfolio.
You have to get out of the either or thinking
and think which of these styles is best for me in this particular moment.
But I can promise you that you do have elements of both
when most people have elements of neither,
which is why they never move forward.
So I think I've accurately described the problem here.
Makers and managers work differently.
These guys want empty calendars.
These guys want filled calendars.
When they interact, one person destroys the other person time
and it's a disproportionate trade.
And when things get bad, they get even worse
because the managers interrupt the makers even more
and the makers trying to be polite
because they don't want to turn down invitations
just make their lives worse and worse
and they have to work longer and longer hours,
lose sleep, lose family time, lose their weekend
so that they can just keep up with their work
without pissing anyone off.
And so let's talk about a different way to do this.
So I use something called a three-pronged approach for the solutions.
And that's because you have to address it from all angles.
It's not just saying, hey, makers deal with it.
Hey, managers do something different.
Hey, organizations, you have to attack it from all three directions.
You've got the managers, you've got what the makers should do differently,
and then you've got the organization overall.
So you've got all three of these parties that you have to accommodate.
To the managers, step one,
understand both the costs that you put on the maker.
The first cost is the cost of coordinating times while they work.
So they're trying to work right now
before you coordinate the time that you're also going to disrupt them.
So you disrupt them while they're working,
and then you disrupt them at the meeting that you're trying to plan.
So you disrupt them twice.
Secondly, and once you have that time set aside,
understand that the time itself eats an entire work block itself,
and you have to know the difference between your work and the maker's work.
And when you ask for a meeting, it costs them 10 times more.
You use up one of their 10 time slots per week,
whereas you use up only one of your 100 or more time slots.
So when you choose to make an appointment
or choose to make a meeting, be sure that it's worth it,
especially if it's an ad hoc or impromptu.
If you have a set cadence of communication,
if it can wait until that time,
and you've got to be really real with yourself.
Can it wait?
Is this just a convenience thing for me or a preference?
If it is, then don't destroy the poor man or poor woman's time.
Step two, understand the value of the maker's no.
And this is something that hopefully becomes
incorporated in your lexicon at your business,
is that this is a maker's no, not a real world no.
It's a maker's no, is that if a maker declines a meeting,
don't take offense.
See it as them actually trying to keep their larger commitment to you,
the company, and other people
to get the meaningful work they need to get done, done.
And so this means you don't get offended.
This means you don't hold back the promotion
or say that they're not being productive
because they keep turning down meetings.
If someone turns down the meeting,
it's because they're doing something that they can accurately say
this is more important than that.
Now, if you as a manager say,
I know that this is going to destroy the morning
in terms of your productivity,
but I think it is worth your time to be on this
because we need your insight,
then you can frame it that way
and then you can give the maker the time to prep for that meeting
if it is literally of that importance.
Step three for managers is actually ask your team
what an ideal day would look like for them,
like what's a maximum productive day look like
and allow them the time to give you the response.
And I suggest following that to the greatest degree possible
so that you can actually help them be the most productive.
And so for example, for us, our media team leaders
asked the editing team underneath of them,
hey, what's the perfect day for you guys?
What's a perfect weekly calendar look like?
And as a team, they were like,
well, if we could just bunch all the meetings here
and we could have all the rest of the days free,
that'd be awesome.
And then if we had, it was like, okay,
well, how do we, what about when we coordinate?
It's okay.
Well, we'll have specific coordination times
that we keep for brainstorming sessions and things like that.
But beyond that, we keep everyone's calendars empty.
And so that way, as a team, you as a manager
also can have fewer meetings
so that you can fill it with other meetings
that aren't makers, right?
So you can do more leading, more directing,
more encouraging, more persuading, more training,
and then let the makers make.
And we've also realized,
and I think you will break your own belief around this
as soon as you start doing this,
that a lot of work doesn't have to be done at the same time.
Everyone doesn't need to work on the same thing
at the same moment to get the most done,
as long as everything gets done by this period of time.
Now, this video isn't the protect the makers video.
This is for all businesses and all business owners.
So let's talk to the makers now.
Step one, good managers want to help you.
So let them.
Tell them how you work.
This is you communicating to them.
Send this piece of content to them to help them help you.
And yes, you will have to take meetings
that eat your entire day sometimes.
It's part of the job.
You have to work with other people
because your project would never see the light of day
without marketing, marketing it, sales, selling it,
product delivering it,
and everything else that happens in between.
It's a team.
And so if your manager is going to choose
to put a time block in the middle of your morning
or the middle of your afternoon,
then switch that whole block into a manager schedule.
Fight fire with fire and try to knock out
as many meetings as you can in that formerly free time.
So that means that, okay,
if I know that I'm going to have this one time slot
that's killed my big chunk,
well, then let's slice that baby into as many chunks as I can
and get all the other ad hoc impromptu meetings
done that morning
so that I now switch to a maximally productive manager.
And so the thing is,
is that you don't want to identify as one or the other.
You just want your calendar to reflect
the nature of the work.
And so the point here isn't to have two camps
of makers and managers.
It's to understand what type of productivity system
you're installing for that period of time on your calendar.
Because especially if you're an entrepreneur,
you've got to wear both.
Step two for makers,
have standard meeting times where you accept meetings.
So you say, hey, you know,
Monday and Thursday afternoons
is when I have all of my meeting times open.
So whenever someone requests a meeting,
ask them if they can make it in those times.
And this is where, when you get into the organization,
if everyone has those times,
then everyone's on maker schedules for those time blocks.
And then it becomes more efficient
at an organizational level,
which I'll get to in a second.
It's rare that a meeting is truly urgent.
So if you can push them off to those designated blocks
that you set ahead of time,
you will make a lot more money
with the time that you have remaining.
And you want to make this time available
to anyone who meets with you on a regular basis
and add some empty time slots
or leave some empty time slots in that maker meetings
for the ad hoc meetings that inevitably come up.
I would say I've gone through three distinct periods
of understanding this maker manager concept
and using it to great success.
The first one is you basically have to do nights
and weekends and early mornings
in order to get your maker time in,
but you have to do it.
And so when I was doing this as a gym owner,
so a small business owner,
I would wake up and I would work on ad copy
and work on ads, which was deep work that I'd have to do.
And then I'd step into the gym at 9 a.m.
and start taking sales calls or take training sessions
or have to have one-on-ones with my trainers.
I worked like a regular person with fires
and people interrupting me all day
because I was running a small business.
And so if you need to make sure
that that maker work gets done,
then you need to find one block
that's usually at the very beginning of the day
or the very end of the day if you're the entrepreneur
and no one cares about your time in the beginning.
If I had not done that,
I don't think I ever would have gotten out of one location.
I would never have been able to build the systems
that it takes, like how do you build the training system
to get trainers on?
You do it in maker time.
How do you build the nutrition system
that you're gonna use for your whole location?
You do it during maker time.
How are you gonna run an advertising system
for creating ads and writing copy on a regular basis?
You do that during maker time, not during manager time.
And so to build the assets
that I could build the business on top of,
to build the enterprise,
I had to do that in uninterrupted time chunks.
And the problem was everybody wanted to interrupt my time.
And to be fair, they could,
because my time wasn't super valuable in the beginning.
Over time, you'll begin to have people
who can start protecting your time for you.
So for a big chunk of my career
as I started to make more and more money,
the first half of every day
until noon or 1 p.m. was always wide open
because I do my best work in the morning.
And then once I've kind of used up my creative juice,
I can do the coordination and meetings and things like that.
Now, I'll give you a second pro tip on this,
which is if that is the way
that you wanna plan your calendar,
let's call yourself an intermediate entrepreneur,
start planning your day back to front.
So what I mean by that is someone wants a meeting,
you start at, it ends at five and starts at four.
If someone else wants a meeting,
then you say it ends at four and starts at 3.30.
And you work your calendar from back to front.
That way, your front of the day
is still the most open you possibly can have it.
Now, you'll still suffer from the quote Ziegernick effect,
but you still have a very large chunk of uninterrupted time.
And by doing it this way,
you avoid those empty dead times
where you're like, great,
I have 45 minutes between two meetings.
Like, what am I gonna do now?
And you're like, I guess I'll just have a snack.
So if you have less means, then you work double time.
You work on your client's time
and then you do your work in off hours.
So like I was saying in my early days,
by doing that morning five days a week
and then I would work both shifts on the weekends,
I would get four on the weekends.
I get a morning and an afternoon on Saturday and Sunday
that I could put maker time in.
And then I get five blocks during the week.
And so this still gave me nine maker's blocks per week
to move big stuff forward.
That's a full-time job.
But the key here, if you're noticing is that,
yes, you work double
because you have to work the job
that you're currently doing to make money.
And then you work the next job
to get out of the job you're in.
So the V1 of this is you have to make maker time.
The V2 of this, I think, is the 50-50 split.
The first half of your day is maker.
The second half of your day is manager.
And you work it from back to front.
That's the V2 version.
The V3 version, which is what I do currently right now,
is that I have entire maker days.
So I have two, three, four days per week
that are just maker days.
And then I have a manager day
where I stack the hell out of my meetings,
introductions, you know, coordinations, decisions,
quarterly meetings with portfolio companies,
all of that type of stuff
happens on those days back to back.
So I don't feel unproductive at the end of the day
because I know going into it,
I'm not going to do any maker work.
I'm just going to crush as many meetings as I can.
Step three, communicate about
how you're going to communicate.
Tell people when you're going to be slow to respond,
specifically during your maker's box.
So people have an amazing ability to adapt
if you tell them ahead of time.
People really only get upset
when you have unmet expectations.
They expect you to respond immediately,
and then you don't.
And then they question if you're working
when the reality is that's why you're working
is the fact that you're not responding.
So change them.
So let everyone know that this is how you work
and this is when you're going to be responsive.
And if you do have that time period
where you say you're going to be responsive,
then be responsive, which leads to step four.
Actually work when you say you will.
If you have the luxury of having people
who respect your time and respect your schedule
and understand this maker-manager dynamic,
then you owe it to them as a maker
to not waste your time.
Because if you don't,
you will confirm their suspicions this whole time
that you've been goofing off all day
because you're not actually working.
And that's what the vast majority of managers think
when they look at your calendar and see that it's empty,
is that you're not actually doing anything.
And what you don't want to do is prove them right.
So I covered what you have to think about as a manager.
You want to understand this lingo.
You want to understand how makers work
and you want to try and respect that
and empower them to the greatest degree possible.
As a maker, you also want to understand
that you work within an organization.
There are times that you're going to have to take meetings.
If you do take meetings,
you want to block that time
and then crush as many meetings as you possibly can.
Be responsive when you say you're going to be responsive
and then work like a madman during the time
so you actually have empty time slots on your calendar.
Great, so we have both of those covered.
But how do we install this into an organization
so that we can make this canon,
so that we can make this standard?
And this is what I'm hoping across many organizations.
So if I can use my platform to help businesses make more money
and help people actually enjoy their work more,
then I can't think of a higher return on my time
than doing that across thousands and thousands of businesses.
So as an organization,
and this is if you're the entrepreneur
who can make those decisions,
step one, consider mandated quiet time on the calendar.
So during these times,
entire teams can't message one another or meet.
And so either make this a time of day every day
or make this entire days of the week.
So for example, for us,
Wednesdays are quiet days for the editing team.
Like no one talks, there are no meetings.
They can just crank on one or two big projects
they want to work on throughout that day.
And I want to be very clear on this caveat.
It doesn't need to apply to the entire organization,
only the ones where you have makers.
So think engineers, developers, copywriters, editors,
builders, writers, presenters, media, whatever.
The people who have to work on projects
that require intense periods of time without interruption.
The reason I think this is more important now than ever
is because of remote work.
Remote work has removed the transparency
between someone working.
And so I can walk around my office now
and walk past the editing base
and see people plugged in,
working on their computers, editing.
So I know they're editing,
even though their time block is empty
if I just check their calendar.
But in a remote setting,
if I look at someone's calendar and see it's empty,
but I have no way to check in on them or see them,
then I don't know if they're actually working
or if they're just like rock climbing.
And so I have no way to know that.
Then you think, okay, well, I'll just Slack them.
But by doing the Slack message,
you then disrupt them anyways.
And if they're super responsive on Slack,
you feel like they're working.
When the likelihood is that
if they're really responsive on Slack,
they're not working because they're on Slack.
And so the real, real is that if you're remote
or the teams that you have that are doing making a remote,
you have to have an element of trust
and you still need to measure on output.
So you can give, I would say,
basically extend longer periods of trust
where you say, hey, we have this big project.
This is the deadline for that project.
And then you want to remove as many obstacles
as you possibly can to allow that person to work.
And let's also be real.
There've been days where I wake up and I'm like,
I don't have it in me.
Like wherever the magic is
or the muse didn't show up to work today.
Sometimes if you're a maker,
then maybe see if you can get meetings on that day
because you're like, dude, my brain's dead.
Like I don't think I'm going to create anything today.
But there are some days where I wake up
and I feel like the touch of God is upon me.
And I'm like, oh my God,
I think I actually can cure cancer today.
And when that happens,
then sometimes it's worth changing the meetings
and saying, hey man,
I'm in the middle of something right now
and I'm crushing it.
Is there any way we can just meet later?
You know what's crazy?
Most people when they get that message are like,
sure, no problem.
It wasn't urgent anyways.
And sometimes they're like, you know what?
We don't even need to reschedule the meeting.
I actually handled it already.
And so I would strongly encourage you as a maker
to kind of keep a pulse on yourself
and also managers to extend the time trust
where you allow makers to make.
Now, if they do not meet the deadlines
and they are not meeting the output,
then you need to be very clear about
this is the trust that I'm extending to you.
So what is the reason that you have
for not getting this done?
And real, real, a lot of times
you actually have to dig into their personal lives
because that's usually the most.
Anyways, as an entrepreneur,
you're often going to have times where you're a maker
and at times where you're a manager
and being clear to your team
about which hat you're wearing.
So I literally say, hey,
I'm putting my maker hat on today.
Hey, manager hat before I step into something.
And that gives me and them a mental cue
to know how I'm operating for that day
and kind of the rules of engagement.
And by doing it that way,
it sets all the expectations with one thing,
one change of hat rather than me
have to re-explain the rules every time.
All right, before the last
and most important point for organizations,
let me show you my calendar and walk you through it.
So this is an actual time block.
I think today is the 31st of May
as we're actually recording this.
And so this is my actual calendar.
And so you'll notice that we had Labor Day weekend, right?
So Monday, I actually took off on Monday.
So this was a short week.
But Wednesday, Thursday, Friday,
I have nothing on here except for maker time.
So me recording for me is maker time.
Like I'm making these videos.
I can't do this and then take a meeting
and then come back and make this video, right?
Like I have to stay in it until it's done.
And so this whole day,
all three of these days are just straight up empty.
And you can see I have a gym meeting with myself
in the afternoon so I can get swole.
So I was telling you that on Wednesdays,
we have our quiet day for editors,
but it's actually organization-wide.
And we just separated people into,
are you a maker or are you a manager?
And so if you're a manager
or you deal with lots of time slots,
this just doesn't apply to you.
But for everyone else in the organization,
which everyone else has transparency into,
all of Wednesday is an acquisition.com quiet day.
And the reason that we put it on Wednesday
was that way, if you think about how the week works out,
it's like you have two quiet days on the weekend,
no matter what.
And then you have two days
that could potentially get interrupted
with another day in between.
So basically the longest amount of time
that you have to wait is two days
before you can have a guaranteed quiet day.
Now you'll notice that Tuesday
basically functioned as my Monday for this week.
I had a team meeting with my whole company.
I had a one-on-one with my head of investment.
He's the one who runs our deals.
I had my executive meeting,
which is just all the leaders in my company at acquisitions.com.
I had a one-on-one with my book manager.
I had a meeting with our workshop manager
because we wanted to touch base.
And after that meeting,
I said, let's not have this meeting anymore
immediately after the meeting.
So to be clear, like I try to always audit,
like, do I need to do this again?
Or is there a process or a person
who can do this instead of me?
And most times there is a process or person.
After that, I had my school games Q&A.
So I had once a week,
I take a call with the school games
and notice I do these calls
that I have with customers on my meeting day
because it's still an interruption.
And to me, it feels the same.
It's like I hop on, I'm asking questions.
I'm answering questions.
I'm directing, I'm doing whatever.
Then I had my marketing meeting
for our internal marketing stuff.
And that was it.
I had a hair trim and then I had my gym.
All right.
And so you'll be like, wait, that's it?
I just saw Alex's whole week.
That's all the meetings he takes.
And the answer is yes.
Now, I think what might be more important
than the things that you saw
are the things that you didn't see.
And so there's meetings that happen
all the time with the leadership,
with my team and portfolio companies,
with my media buyer and their media buyer,
my portfolio operating partner
and the CEOs of the companies that we own, right?
All of those meetings, you'll note,
none of them were on my calendar.
At some point, I see the entrepreneurial journey
as a relinquishing of control.
And at every level of entrepreneurship,
you need to learn a new level of giving up control.
And so what's interesting is that
when we get into entrepreneurship,
we do it because we want freedom.
But as soon as we do it to get freedom,
we actually have absolute control over everything
because you have control of you're a solopreneur now.
Like you have no team.
It's just you.
But when you have control over everything,
you actually don't have freedom.
So you cannot have both absolute control
and absolute freedom at the same time.
And so if you want freedom,
you have to relinquish control.
You have to extend trust to people.
Now, those trusts can have guardrails
and you can still have outputs
that you measure people on.
And then you basically tighten up the reins
if things don't go to plan.
But as long as people are doing their job
and meeting the outputs,
then you can continue to kind of extend the leash.
I don't really like the terminology,
but you get the idea.
And so at the end of every one of these meetings,
I'm telling you,
if you could just put a little reminder to yourself,
do I need to do this again?
Does this meeting even need to occur again?
And secondarily, is there somebody else
or a system we can put in place
to eliminate this altogether?
Layla and I, she's even better about this
because she has more meetings as an operator than I do.
Every single week,
she starts her week by looking at all of her meetings
and deletes.
She deletes first.
And then on a quarterly basis,
she looks at all recurring meetings and says,
how can I change the time
that's being allocated across the whole company?
So she sees everyone's calendars
and everyone's meetings.
She does some Rain Man stuff
where she says,
I don't think we need to do this anymore.
I think we can combine these two.
I think you don't need to attend.
And she tells people,
I don't think you need to attend this anymore.
I don't think you need to attend this.
And I think that's where a culture of
meetings don't make you productive
is a very important sub-line here
for organizations in general.
And you'll notice this with Elon Musk and Bezos
and some of these great entrepreneurs.
They talk about this
where they want to standardize like,
hey, you can get up in the middle of a meeting
and say, hey, I've just got stuff I need to do
and I don't think I'm relevant here
or I don't think I'm adding value.
That's you returning time to the company.
Because this is the thing that everyone forgets
is that let's say you make $50,000 a year.
That means that you make around $25 per hour
in general.
And so if you have,
and let's say you've got some people
are making $100,000 a year on the meeting.
So that's $50 per hour.
That means that if you have 10 people
on a one-hour call,
it's like that was a $500 call
or a $400 call.
Now, if we took the whole team out to Chili's
and we spent $400 on drinks and chips and whatever,
it'd be considered a major expense, right?
But every day, all the time,
you're taking the whole team out to Chili's 10 times a day.
This is why people stay poor
because they don't know how to allocate time
to get the highest returns.
So let's walk through the last step for organizations
to make this real, to get the most out of everyone.
Spread this content to makers and managers alike
so that everyone can use the same language
to describe this larger source of waste
and prevent it.
Because if you are working
with a maker-manager schedule
where everyone understands
where people can get the highest returns on their time
and your competition is not working this way,
you will get higher returns on human capital
on the time you invest in people
because they will be happier,
they will stay longer,
they will have higher output
and the quality of their work will go up.
So you'll both get higher quantity of work
and higher quality of work,
both by changing how you allocate time
and try and actively remove
as many makers as possible from meetings
and also managers don't need to be there.
And my goal with this video
is to increase the awareness
of these two types of working styles
and put words to something that plagued me
for a very long time.
And so if you're listening to this
and you're like this is music to my ears,
this is what I've been trying to describe
for such a long time
and I haven't been able to put words to it,
I made this for you
so that I could put words to something
that hopefully everyone else can use
and distribute at a bargain on time.
It's that you don't have to worry
about making this thing,
you can just send it
so that people can understand it for you.
And hopefully this gives words to the makers
whose work moves the world
and helps managers understand
how expensive got a minute really is.