From $200k to $30M: The Power of Opportunity Cost | Ep 55

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 18 July 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

"I realized after really taking time and sitting with myself that it didn't align with my values." Today, Leila (@LeilaHormozi) shares with us a decision-making framework that has earned them between $20 and $30 million every year for the past four years. She explains the concept of sunk cost versus opportunity cost and how it helped them make a life-changing decision.

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:

(1:47) - Realized it didn't align with values, just image-based

(2:54) - Passionate about helping people transform, but business side was difficult

(3:27) - Emotional breakdown, crying every day for 2 months

(4:01) - Made decision based on sunk vs. opportunity costs

(9:05) - Focus on opportunity cost, write it down, take emotions out

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Transcript

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0:00.0	And so I think that emotions don't necessarily demand act, but facts do, right?
0:04.5	And so it's always just looking at the evidence.
0:06.1	And so I think that's why making a decision based on a framework and numbers is much more helpful than not.
0:16.7	How do you create an unshakable business?
0:19.1	I cross $100 million in net worth by the age of 28.
0:22.3	Now I'm growing acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've learned in scaling big businesses and helping our portfolio companies do the same.
0:31.2	Buckle up and let's build.
0:36.4	So today, what I want to share with you is the decision-making framework that I used that has
0:40.9	paid me between $20 or $30 million every year for the last four years.
0:45.7	And so what that looks like is figuring out if you need to grid it out or quit it.
0:49.8	And so let me take you back to when I made this decision, which was definitely the best
0:53.7	decision I made my entire life which was definitely the best decision
0:54.2	I made my entire life, that has continued to pay dividends, and that was in 2016.
0:59.3	And so bringing you back to that time, I had finally achieved a level of success that many
1:04.9	would deem to be where they would stay, right?
1:07.9	It's not something that you really try to get past.
1:09.7	And what that was and what it looked like for me was being really successful at what I did in stay, right? It's not something that you really try to get past. And what that was and what it looked like for me
1:11.4	was being really successful at what I did in fitness, right?
1:14.3	And so what I'd done is I'd moved out to California
1:16.3	from the small town in Michigan that I've lived in,
1:18.2	and I started my own essentially career in fitness, right?
1:22.2	So I built up in-person clients, online clients.
	...

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