7 Lessons I Wish I Knew Earlier | Ep 114

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 12 February 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

“You reward behaviors that you want rather than punishing behaviors that you don't want.” Today, Leila (@LeilaHormozi) expands on the significance of leading with love, maintaining customer expectations, optimizing team performance, and creating an efficient hiring funnel. She also emphasizes building a positive work environment, the importance of timely feedback, and the shift from selling to customers to selling to your team.

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:

(0:48) - #1: People work harder for leaders they love over leaders they fear

(6:26) - #2: People need to be reminded more than they need to be taught

(10:18) - #3: You can beat everybody if you simply meet expectations of the customer

(14:56) - #4: Scared people hide problems

(17:27) - #5: Every new teammate is a chance to break status quo

(20:19) - #6: As soon as you stop selling customers, you start selling your team

(23:14) - #7: You need an equally strong talent funnel to match your client acquisition funnel

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Transcript

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0:00.0	That framework alone, that improved our entire team.
0:03.3	It took them to the next level.
0:04.6	And if you can get your team from working in silos to working together where they can meet the expectations of the customers, you can be everybody.
0:16.4	How do you create an unshakable business?
0:18.5	I cross $100 million in net worth by the age of 28.
0:22.0	Now I'm growing Acquisition.com into a billion dollar portfolio.
0:25.2	In this podcast, I share the lessons I've learned in scaling big businesses and helping our portfolio companies do the same.
0:30.9	Buckle up and let's build.
0:41.8	Today, I want to share with you seven million dollars lessons that I wish I had known earlier that are responsible for building our multiple nine-figure portfolio and all the eight-figure
0:46.4	companies within it.
0:47.8	The first lesson is that people work harder for leaders they love over leaders they fear.
0:53.2	When I got a job fresh out of
0:54.9	college, I actually packed up my car and I drove across the country and I got a job at 24-hour
0:59.3	fitness. I had graduated for exercise science. I had a degree and understood like how to help people
1:04.1	lose weight, how to teach people how to work out. But I didn't understand business. I didn't
1:07.9	know marketing or sales. As soon as I got a job at 24-hour fitness, what I realized was I actually needed to learn marketing and sales. I think that one of the
1:15.6	main reasons that I was able to succeed is because I actually was really lucky to have this
1:19.8	great boss. His name was Mike. Mike always asked me how I was feeling. Mike always would stay
1:25.1	extra hours to help me train. He was always there to be like,
1:27.9	dude, you just got to try again. Like, this is part of the game. Like, this is normal. You're not a
1:31.3	failure. He was always able to be a positive source of reinforcement for me. And I don't even think
1:36.7	I realized how lucky I was to have found him until he's like, hey, I've actually got to go
	...

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