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Build with Leila Hormozi

How to Beat Everyone By Outlasting Them | Q&A Ep 198

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5867 Ratings

🗓️ 23 October 2024

⏱️ 38 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.

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Transcript

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0:00.0

what's a business opportunity that I could create an environment in which I love working every day.

0:05.7

And I genuinely love the people I work with and the things I work on.

0:09.0

In Alex fashion, he has his list of, I made all the ideas for the business that we could start.

0:12.9

And there's like a few ideas that we narrowed it down to.

0:15.1

And it was like, well, we could blow this one the fuck up, right?

0:18.7

The idea was like super sexy we have i think we had a lot of things

0:22.8

lining up for us that would set us up for a lot of success but i was like i just can't see myself

0:27.3

doing that for like 10 years 15 years i was like what kind of business would have to exist where

0:32.1

i feel like i could outlast everybody what's last everybody.

0:45.8

What's up, guys? So I call this the leftover session. If you guys have a question,

0:49.4

we are all right here. We got a little dancing hand. Cool. So I just want to know your process for hiring good CEOs if you ever have to do that when you acquire companies and

0:53.5

things like that. If you want somebody to just run it and it's just a cash flow business, you don't really need

0:58.4

somebody who's used to operating in a private equity model. So like for a company, if you're

1:02.6

finding one that you want to put through a transaction soon, like that's when I look for operators

1:05.8

who have experience working with a private equity firm. But that's because with a lot of the companies that we have,

1:11.2

we're looking to flip them in, you know, like three to five years. That might just be even a

1:14.9

minority investment, but a lot of times the founders that come to partner with us, then want to

1:18.9

be able to take chips off the table in like a, you know, multi-nine figure exit in however many

1:24.7

years. If I'm bringing an operator, I want someone who knows how to go through a transaction and somebody who's done that before. If you're not looking to do that, then I think

1:31.5

that simplifies it to a degree, but you want to find somebody who's probably at least done

1:36.9

somewhat some acquisitions. I'd say like tuckins at least before. In terms of finding that person,

1:42.3

there's not an easy answer because it's not going to be inbound. Like you're not going to post on Indeed and find that person, right? Right. And so I'd say,

...

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