If You Want to Scale, Stop Doing This... | Ep 36

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 11 May 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

“You can't wait for you to change, and so you have to change them.” Today, Leila (@LeilaHormozi) shares the common mistakes businesses make when trying to scale from seven to eight figures. She also shares five main things that stand out to him when talking to companies and emphasizes the importance of not stepping out too soon and not being afraid to reinvest in talent.

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:

(3:08) - 1st Mistake: incurring too much management debt

(7:06) - 2nd Mistake: the CEO stepping out too soon

(13:25) - 3rd Mistake: Fear of reinvesting in talent to grow the company

(16:17) - 4th Mistake: Unwilling to do the boring work.

(18:06) - 5th Mistake: Letting ego get in the way

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Transcript

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0:00.0	outsourcing is a process that's not all or nothing like here you go it's off my plate now i never
0:03.4	look at it again like yes i'm going to be on the marketing meeting still i'm going to be meeting with
0:07.3	the marketing team still it just means it's maybe not my hands clicking the buttons but i'm talking to those who do
0:15.6	how do you create an unshakable business i cross a hundred million dollars in net worth by the age of
0:20.1	28 now I'm growing
0:21.5	acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've learned
0:26.1	in scaling big businesses and helping our portfolio companies do the same. Buckle up and let's build.
0:35.0	What I want to talk about today is one of the most common mistakes in stealing from seven to eight figures.
0:40.6	And the reason I'm making this is actually this last weekend, Alex and I went to an event.
0:45.9	And we went there to support some of our friends that were speaking at this event.
0:49.2	And we live in Vegas, so we're local to it.
0:51.4	And so it's not hard to attend that kind of stuff.
0:52.9	We were at that event, and a lot of people came up to us and, you know, for me, to give context, I think more
0:58.7	people that are a little bit more operational came up to me. And we're talking about the content
1:02.4	that I've been putting out and how it's been helping them, how it's really resonating with
1:05.8	them, you know, as they're really building into like an eight figure business. And I was thinking more and more about it
1:11.4	because I had a lot of conversations. I want to say like I had five really great conversations
1:15.5	with people who are at that point where they're at. I want to say between four and six million
1:19.0	and they're trying to scale to, you know, 10 and beyond. Right. I think everyone kind of has like,
1:23.1	once you've hit seven figures, you're like, I really just want to hit eight figures. And that's kind of the focus. And from those conversations, I was kind of thinking about, like, how don't make
1:30.1	content on this that we don't want to talk about? And I realized that each conversation was really me
1:35.2	helping them work through why they're not there yet, right? And each person kind of had something
	...

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