6 Simple Steps To Grow Your Business From $1M to $10M | Ep 39

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 23 May 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

What are you doing to scale your business? Today, Leila (@LeilaHormozi) shares with us the six things that make the most significant difference in terms of transitioning from being a seven-figure to an eight-figure leader. Some of the differences include asking for feedback, hiring people who are more intelligent than you, and focusing on assembling a team rather than doing everything yourself.

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:

(1:37) - Step 1: asking employees for feedback

(2:49) - Step 2: hiring people smarter than you

(4:11) - Step 3: admitting that you don’t know everything

(5:38) - Step 4: assembling a team instead of doing it yourself

(6:52) - Step 5: understanding that operations are important

(9:16) - Step 6: hiring out of logic instead of desperation

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Transcript

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0:00.0	I think a lot of times people don't want to let go of that work because it feels really good.
0:04.3	Because we're really good at it.
0:05.3	We're like, we really believe that that's what got us to the seven figures.
0:07.9	This is really hard to let go of it in order to get to eight, but it's also necessary.
0:15.0	How do you create an unshakable business?
0:18.0	I crossed $100 million in net worth by the age of 28.
0:21.6	Now I'm growing acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons
0:26.2	I've learned in scaling big businesses and helping our portfolio companies do the same.
0:30.5	Buckle up and let's build. What's up? What I'm going to talk about is the difference between a seven and eight figure leader.
0:39.9	And this came from my Instagram. A few people asked me, you know, what's the difference between a leader at seven figures versus eight figures?
0:45.3	Like, how do you get from seven to eight figures? And so I outlined six things that I think make the biggest difference in terms of like, if you're at seven figures in terms of how,
0:55.3	like you're doing annually as a business
0:56.6	and you wanna get to eight figures,
0:58.2	what you have to do as a leader to get there.
1:00.2	And so I wanna dissect those six things
1:02.1	and explain what they look like when you're at seven figures
1:04.1	versus eight figures.
1:05.4	And as this just comes from my personal experience,
1:07.5	so if you are at seven or eight or nine figures
1:10.0	and you feel differently, like, cool. But this is what I experienced and it's what I noticed to be the evolution of myself,
1:15.2	as well as a lot of leaders that work in our companies. So the first is that when we were at seven
1:20.5	figures, something I didn't do was I didn't ask employees for feedback. And the reason I didn't
	...

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