First 5 Hires As You Grow | Ep 376
The Game with Alex Hormozi
Alex Hormozi
4.9 • 4.8K Ratings
🗓️ 22 March 2022
⏱️ 12 minutes
🧾️ Download transcript
Summary
Who you hire are the extensions of yourself. Today, Alex (@AlexHormozi) talks about hiring the first 5 people to your business in "reverse order" and being aware of what kind of debt you incur when you start.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:45) - First two hires: admin and customer service; third: skilled sales.
(3:45) - Fourth hire: promotions and marketing; fifth: bookkeeper for finances.
(5:40) - Entrepreneurship: buy back time, add more value.
(7:41) - Starting a business incurs various debts, strategically plan repayment.
(10:04) - Takeaway: hire in reverse value order, be mindful of debt.
Follow Alex Hormozi’s Socials:
LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition
Transcript
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| 0:00.0 | Real quick, guys, if you can think about how you found this podcast, somebody probably |
| 0:03.8 | tweeted it, told you about it, shared it on Instagram, or something like that. |
| 0:07.5 | The only way this grows is through word of mouth. And so I don't run ads, I don't do sponsorships, |
| 0:12.2 | I don't sell anything. My only ask is that you continue to pay it forward, do whoever showed you, |
| 0:16.4 | or however you found out about this podcast that you do the exact same thing. So if it was a review, |
| 0:21.0 | if it was a post, if you do that, it would mean the world to me and you'll throw some good comment |
| 0:24.3 | out there for another entrepreneur. You want to think about, especially for the first five, |
| 0:28.0 | that they are really just helping you do more. And so think of them as extensions of yourself. |
| 0:33.2 | Welcome to the game where we talk about how to get more customers, how to make more |
| 0:36.0 | customers, how to keep them longer, and the many failures and lessons we have learned along the |
| 0:39.6 | way. I hope you enjoy and subscribe. In this video, I'm going to walk you through the first five |
| 0:46.0 | hires that you need to bring on in your company as you are growing. And as a fundamental framework |
| 0:51.2 | to think through this, you want to think about, especially for the first five, that they are really |
| 0:55.9 | just helping you do more. And so think of them as extensions of yourself. Over time, we're going |
| 1:00.4 | to transition from that philosophy to really building a team in departments. But each of the five, |
| 1:05.3 | well, more or less correspond to being an extension of you and doing the repeated tasks that are |
| 1:10.9 | time consuming, but do not necessarily add as much value as some of the more strategic pieces of |
| 1:15.1 | each of the roles. All right. And so if you don't know, I am, my name's Oxymozzi. I'm an acquisition |
| 1:18.7 | .com. It's portfolio companies. It's about $85 million a year. And I have nothing to sell you, |
| 1:22.0 | welcome to Mosey Nation to make these videos because a lot of people broke and I do not want you to |
| 1:25.5 | be one of them. So let's rock and roll. So the first of these things in terms of the order and |
| 1:31.4 | sequence that you're going to be hiring them in is going to be in the reverse order of the value |
... |
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