If I Were to Start a Company in 2024, Here’s What I Would Do (Full 0-$100M Guide) | Ep 106

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 16 January 2024

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

“I think zero to a million is the hardest because it's the area in which you incur the most cost of change.” Today, Leila (@LeilaHormozi) shares her experience in scaling big businesses and briefly explains the four primary stages of growing a business from zero to $100 million. She discusses the importance of finding a product-market fit, understanding your customer deeply, developing the right skill set, building a great team, learning to hire well, and considering key aspects while planning to sell a business. Through real-life anecdotes and practical tips, Leila guides emerging entrepreneurs on their challenging journey to success.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:

(1:31) - The challenges of the initial phase

(10:45) - The importance of work capacity

(14:50) - The second phase: increasing lifetime value

(17:06) - Understanding your customer's needs

(21:49) - The third phase: moving from 10 to 50 million

(23:57) - Understanding the importance of employee value proposition

(27:15) - The fourth phase: the role of innovation and talent

(29:38) - Preparing for vertical integration and technological advancements

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Transcript

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0:00.0	I found that where a lot of people get stuck here and the reason it's hard for them is they're
0:03.8	still listening to mentors who help them get to 10 million, but those people themselves aren't
0:08.6	past 10 million. And so it's really hard to get advice from somebody who's not been where you're at.
0:18.5	How do you create an unshakable business? I cross $100 million in net worth by the age of 28.
0:24.1	Now I'm growing acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've
0:29.0	learned in scaling big businesses and helping our portfolio companies do the same. Buckle up and let's build.
0:39.5	I've built and sold three companies, one of which is worth over $100 million, and I am building my
0:44.1	fourth right now, and my goal is to get it through a billion.
0:46.6	This has not been an easy journey to say the least, and so today is really for my 23-year-old
0:51.2	self, and this is for you, too, if that's what you're going through.
0:54.0	And if selling a
0:54.8	business is something that is appealing to you at the end, I'm going to include some of my
0:58.0	tips, the things that I learned along the way to sell my businesses. So I made this framework
1:01.7	that basically outlines the four phases to go from zero to 100 million. There's phase one, which is
1:07.3	zero to a million. That's the phase most of you are in. That phase is called market fit, or many people know it as product market fit. In this phase, you need to nail one product
1:16.0	that has one avatar that you sell through one channel and you just sell that thing over and over
1:21.0	and over again until you have consistency of numbers. Can you week over week and month over month
1:25.8	sell the same amount of units or even better increase the amount of units month over month?
1:31.0	This phase sounds simple.
1:32.3	It's like, all right, one product, one channel, selling something to one person a million.
1:35.2	I get it.
1:35.6	That simple, right?
	...

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