5 • 867 Ratings
🗓️ 29 June 2023
⏱️ 21 minutes
🧾️ Download transcript
"Your brand is what differentiates your product, not the product itself." Today, Leila (@LeilaHormozi) identifies the top five mistakes that personal brands make when building a business. She emphasizes the importance of centralized oversight, protecting brand integrity, and focusing on the brand as the competitive moat.
Welcome to Build where we talk about the lessons I have learned in scaling big businesses, gaining millions in sales, and helping our portfolio companies do the same. Buckle up, because we’re creating an unshakeable business.
Timestamps:
(3:30) - Not building a brand for money
(5:26) - Mistake #1: Trying to be both talent and CEO
(8:14) - Mistake #2: Building multiple businesses instead of product lines
(12:59) - Mistake #3: Slinging sh*t
(15:12) - Mistake #4: Misidentifying success source
(17:52) - Mistake #5: Outsourcing the core machine
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0:00.0 | And so it's like a lot of people split their resources too thin by thinking they need to build this insane, crazy, innovative product to attach their brand, when the reality is your brand is the innovation. |
0:16.6 | How do you create an unshakable business? I cross $100 million in net worth by the age of 28. |
0:22.4 | Now I'm growing acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons |
0:27.0 | I've learned in scaling big businesses and helping our portfolio companies do the same. |
0:31.3 | Buckle up and let's build. |
0:42.1 | Today, what I want to cover are the top five mistakes that personal brands make when they're building a business. Personal brands are becoming more in demand than even building a business |
0:46.3 | themselves. More people nowadays, if you go on Google search, are trying to figure out how to |
0:49.8 | build a personal brand or how to become an influencer, than they are trying to figure out how |
0:53.4 | to build a business. But what is becoming more and more common is people that have personal brands, |
0:58.3 | they have audiences, and they have influence, are realizing that maybe they don't want to be an |
1:02.7 | affiliate. Maybe they don't want to just chill other people's products. Maybe they actually |
1:06.2 | want to build a business on the back end. And that's why I want to talk about today, because I have had the luxury of being able to talk to hundreds of influencers or personal brands. And particularly |
1:15.4 | in the last two weeks, I got to speak with two very prominent, dare I say famous, personal brands. |
1:21.4 | And what I saw was the common mistakes that both of them were making in terms of how they |
1:25.4 | were building their business on the back end to monetize their audience. |
1:28.4 | If you don't know who I am, my name is Layla Hermose. I'm CEO of Acquisition.com, |
1:32.3 | which is a portfolio of businesses that does about 200 million per year in revenue. |
1:36.1 | So as the CEO and somebody who is, you know, building a business and also making content, |
1:41.3 | I get a lot of people that come to me and ask me about content. |
1:48.9 | And actually, it wasn't something that I thought of a lot ahead of, you know, when I started making it. It wasn't something I thought of strategically until so many people started asking |
1:52.6 | questions. In fact, sometimes more questions people ask about content than business. |
1:56.6 | And what I realize is that I've approached content in a way that is very much like |
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