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Build with Leila Hormozi

How Millionaires Deal With Setbacks | Ep 49

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5867 Ratings

🗓️ 27 June 2023

⏱️ 5 minutes

🧾️ Download transcript

Summary

“It's a chance to prove to myself why I can do this.” Today, Leila (@LeilaHormozi) shares the importance of setbacks in achieving long-term success and how seeking out imperfect circumstances can help prove one's capabilities. She also shares personal examples and strategies for intentionally making oneself uncomfortable to gain confidence and overcome short-term adversity.

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:

(1:25) - Setbacks are necessary for long-term success.

(2:34) - Seek out imperfect circumstances to cement new belief.

(5:09) - Willingness to suck is required to create success and setbacks.

Follow Leila Hormozi’s Socials:

LinkedIn | Instagram | YouTube | TwitterAcquisition 

Transcript

Click on a timestamp to play from that location

0:00.0

And I was like, why would you practice but not then set yourself up to learn faster, fail faster, and then accumulate the skill faster?

0:07.0

And so I think it kind of goes with that understanding that in order to have those setbacks to create the long-term success, you have to be willing to suck.

0:19.2

How do you create an unshakable business?

0:21.7

I cross $100 million in net worth by the age of 28.

0:24.8

Now I'm growing Acquisition.com into a billion dollar portfolio.

0:28.0

In this podcast, I share the lessons I've learned in scaling big businesses

0:31.0

and helping our portfolio companies do the same.

0:33.7

Buckle up and let's build.

0:39.8

All right.

0:40.4

What I want to talk about is something really short and sweet and to the point,

0:43.2

which is setbacks being necessary for success.

0:45.9

I was on a walk this morning and I was thinking about just some different things I'm trying

0:49.6

to achieve right now with life and with business and thinking about perceived setbacks.

0:53.9

And I know I always find

0:56.0

myself when I perceive a setback that might be in close proximity to me or might be in a near

1:01.4

future and I can see it coming you know I subconsciously I always want to avoid it right I remember

1:07.0

where I read this but it was maybe two years ago in a book and it was talking about the fact that setbacks are necessary for long-term success.

1:14.3

And that thought came back in my mind.

1:16.0

And I think that that has been one of the most powerful beliefs that have served me.

1:21.2

Because every time now I see a setback, I'm like, oh, it's a chance to prove to myself all the reasons why I can do this.

1:29.0

It's a chance to prove to myself to accumulate more evidence of why I can do this, right?

1:35.2

Because a setback is a setback, and everyone has them, and anyone that's successful or non-success

...

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