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Build with Leila Hormozi

Harsh Business Truths You Need To Hear TODAY | Ep 206

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5867 Ratings

🗓️ 15 November 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

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.

Want to scale your business? Click here.

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Transcript

Click on a timestamp to play from that location

0:00.0

What's up guys and welcome back to build and today I want to talk about the harsh business truths that everybody needs to hear.

0:10.3

This is super top of mind for me because I think just in the last few weeks, I have found myself disclosing a lot of these truths to

0:22.8

not just my team, but also entrepreneurs that, you know, are in our portfolio, that come to

0:28.5

our workshops that, you know, ask me questions online. And, you know, I was having this discussion

0:33.3

because I was on a walk with Alex and then one of our leaders on the team.

0:38.0

We were talking about, you know, we had had an event and somebody had asked me a question.

0:41.6

And basically he was like, do I have a marketing problem or a product problem?

0:45.5

And as I listened to his business, I was like, well, both.

0:48.4

Because the product kind of sucks.

0:50.4

And so it's hard to market the product because it doesn't, it's not that good. When I gave him the response to his question, essentially I told him like, hey, in order for you

0:58.7

to make an amazing product in the industry you're in, you would basically need a different company.

1:02.7

Here's what I would do if I were you, given the resources and such that you have.

1:06.3

A lot of my team was like, well, why would you say that to him?

1:08.2

Because that's kind of discouraging. And I was like, discouraging as it may be, I'm not here to sugarcoat things to people and not help them. I'm

1:15.2

here to actually help them, right? And I think there's a difference between being nice and being

1:19.5

kind. And I think that being nice leads to shitty business advice. Being kind leads to feeling

1:25.1

shitty in the moment, but actually being able to improve.

1:28.0

And, you know, for this gentleman, I told him, I was like, listen, this is your first business.

1:32.6

Like, it's not going to be Tesla. It's not going to be SpaceX. And so like, that's okay.

1:37.7

Let's do the best with what we've got and just know what you can do better next time when you start

1:42.3

the next one. You know, I'm on my fourth business now.

1:45.0

And each time I start a new business, I take the lessons that I've learned from the last one

...

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