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Build with Leila Hormozi

Figuring Out on Which Business to Start | Ep 1

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5867 Ratings

🗓️ 17 January 2023

⏱️ 15 minutes

🧾️ Download transcript

Summary

Train your brain to have good decision filters. Today, Leila (@LeilaHormozi) shares with us the criteria for finding out what kind of business works for you, the framework she uses to make her choices, and help you discern whether or not a certain opportunity is right.

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:

(2:26) - Steps you should do when thinking about an opportunity

(8:53) - Don’t go for the opportunity if it doesn’t fit your mission

(12:20) - Make sure to also take down the “worst case scenario”

(14:31) - You can’t rely on emotions or how much money is offered to start a business

Follow Leila Hormozi’s Socials:

LinkedIn | Instagram | YouTube | TwitterAcquisition 

Transcript

Click on a timestamp to play from that location

0:00.0

There's a million ways to accomplish your mission, but does the way that I'm being presented

0:04.5

with or that somebody told me about, does it align with the values? Is it going down the path

0:09.0

that I've outlined to get to that mission? How do you create an unshakable business? I cross

0:15.3

$100 million in net worth by the age of 28. Now I'm growing acquisition.com into a billion

0:20.1

dollar portfolio. In this podcast,

0:22.1

I show the lessons I've learned in scaling big businesses and helping our portfolio companies do the same.

0:26.9

Buckle up and let's build. Today, we're going to talk about how to figure out what business to start.

0:35.3

The reason I want to make this is this is not something I normally talk about.

0:37.8

In fact, I don't usually talk about how to start a business, but I have so many people coming

0:41.5

to me with questions of most common question is Layla. I have so many opportunities. There's

0:45.7

so many opportunities out out there now. How do I figure out which one is right for me?

0:49.6

And I feel like it's an important enough question that I want to take the time to think about, how do I think these things through?

0:55.0

So I can share that with you guys so that you can figure it out for yourself.

0:58.0

And so what I'm going to share with you today is really the process that actually Alex and I

1:03.5

used to figure out that acquisition.com was the opportunity we wanted to pursue.

1:08.0

Because I can tell you, there are a million opportunities out there and our list of opportunities in terms of all the different businesses that we could

1:14.1

start was almost an unending. And so if you don't have a framework around figuring it out,

1:18.2

it can become very overwhelming. And I completely understand that. So the first point I want to make

1:23.0

is that when you lack strategy, you have a lot of opportunities.

1:28.3

Okay?

1:29.3

So what I mean by that is oftentimes the reason that you're watching this video right now and

1:33.3

you're thinking, I need to figure out what opportunity to pursue, the issue is that you don't

...

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