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Build with Leila Hormozi

Stop Being a "Wantrepreneur" | Ep 14

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5867 Ratings

🗓️ 23 February 2023

⏱️ 16 minutes

🧾️ Download transcript

Summary

“If you set your expectations low, then any condition above low in your mind will feel good to you.” Today, Leila (@LeilaHormozi) talks about what a wantrepreneur is, the traits she considers to fit this term, and four mental frameworks that can help you break free from staying stuck in this label.

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:

(2:54) - What is a “Wantrepreneur” and the traits considered to be called one

(4:47) - 1st mental framework: visualizing the worst-case scenario

(7:49) - 2nd mental framework: switching your goal

(9:55) - 3rd mental framework: setting low expectations

(12:36) - 4th mental framework - having an experimental mindset

Follow Leila Hormozi’s Socials:

LinkedIn | Instagram | YouTube | TwitterAcquisition 

Transcript

Click on a timestamp to play from that location

0:00.0

In order to feel fulfilled in your entrepreneurial journey, the lower you set your expectations,

0:05.1

the more likely it is that you will be elated, excited, happy about your progress.

0:10.1

Because anytime real life conditions exceed expectations, you'll be happy.

0:15.9

How do you create an unshakable business?

0:18.5

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

0:21.6

Now I'm growing Acquisition.com into a billion dollar portfolio. In this podcast, I share the

0:26.0

lessons I've learned in scaling big businesses and helping our portfolio companies do the same.

0:30.5

Buckle up and let's build. What is a wantrepreneur? Okay, a want entrepreneur is someone who is dabbling yet unaware of their

0:40.1

skilled deficits that are needed to start a business. So today what I want to talk to you about is how to

0:44.4

stop being a entrepreneur. And what I consider to be a entrepreneur or at least the phase of being

0:48.8

a entrepreneur is like you're literally waiting through the swamp of unconscious incompetence. What is unconscious incompetence?

0:56.4

That is essentially when you are unaware of how incompetent you are in terms of your ability to

1:01.8

start the business. And so you feel like this feeling of being very lost, very unaware,

1:06.6

and very unassuming, right? And so what does this look like? What this looks like is that you consistently have an idea,

1:13.6

and then you work on that idea,

1:14.8

maybe you build a product,

1:15.8

you build some kind of marketing campaign,

1:17.3

you get something built, right?

1:19.3

And then when it comes down to actually shipping that thing out

1:21.8

and selling it to customers, that never happens.

1:25.1

So back when I was a entrepreneur,

1:29.5

I essentially started, which, you know, I went to college, I graduated college. Once I got out, then I moved to California. And I got a job

...

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