How to Actually Build a Successful Company in 2024 | Ep 127

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 27 March 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

“A lot of people continuously chase the fancy stuff because they haven't been in business long enough to realize that it truly is the basics.” Today, Leila (@LeilaHormozi) dives deep into the art of effective business scaling, sharing lessons from her experience with acquisition.com and advocating for simple, executable strategies for significant growth. Highlighting the importance of a pragmatic approach to problem-solving, strategic decision-making, and assembling the right team, she offers valuable insights for businesses aiming to achieve exponential growth.

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:

(0:48) - 1st frame: “gun to the head”

(5:14) - The power of doubling down

(7:25) - Why complex systems don't scale

(13:50) - 2nd frame: Thinking in orders of magnitude

(15:41) - Maintaining vs. growing the company

(23:30) - 3rd frame: “what would it take?”

(27:29) - “Who do you need to make it happen?”

Follow Leila Hormozi’s Socials:

LinkedIn | Instagram | YouTube | Twitter | Acquisition

Transcript

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0:00.0	Simple scales, fancy fails. Simple stuff, done really well over and over. And when you pour the
0:05.9	gasoline on that, that's what grows a company. Fixating on complicated solutions, it's never going to work.
0:15.6	How do you create an unshakable business? I cross $100 million in net worth by the age of 28. Now I'm growing
0:21.8	acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've learned
0:26.3	in scaling big businesses and helping our portfolio companies do the same. Buckle up and let's build.
0:34.0	I just finished 2024 planning with four of my portfolio companies and I want to share with you how I plan to grow all of them in 2024.
0:42.0	My goal for you for this is that you can take away the principles that I'm using to grow my companies to grow yours as well.
0:48.5	So the first principle I want to share with you, I call the gun to head frame.
0:53.0	Now, before I get into what that means, let me tell you
0:54.7	a little story. So I was on a call with one of our portfolio companies. They're doing about 50 million
0:59.4	year right now. And the goal was how are we going to add two million in EBDA? EBTA is basically
1:06.0	cash in your pocket to the business over the next year. And everyone starts talking about, oh, gosh, like, how are we going to add two million
1:14.0	EBTA?
1:14.4	Like, how much revenue would we have to add EBTA?
1:16.5	And it's just going all over the place.
1:18.4	It's a little disorganized.
1:19.9	And then people start talking about, you know what?
1:22.2	I think the best way that we could add $2 million EBTA is what if we started a new product line. And that product
1:29.0	line actually served enterprise level customers. So to give you context, this business currently
1:33.7	serves S&B customers, which is a small business owner. Okay. So they serve businesses that are
1:38.9	usually doing anywhere from $300,000 a year to maybe like $1.5 or $2 million year. And the goal was, okay, let's open up this new
1:45.5	product line that can serve businesses that are doing anywhere between 20 to 30 million a year.
	...

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