Tell The Truth About Your Business If You Want It To Grow | Ep 210

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 25 November 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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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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0:00.8	The most successful companies in our portfolio have the most honest founders who also happen to make the most mistakes.
0:06.9	It's just that they don't lie and BS about their mistakes.
0:09.5	It's that they're honest and they own up to them and people appreciate that.
0:13.7	What is up guys? Welcome back to Build and today I want to talk about honesty.
0:18.6	The reason this is top of mind for me is this last week. I think
0:23.3	there was a lot of difficult conversations that people in my team had to have. There were a lot of
0:28.6	people within my portfolio who had a lot of difficult conversations they had to deal with.
0:32.8	And then there was a lot of questions at a workshop that I had the last two days where people essentially had
0:38.6	to have difficult conversations. And what I realized is that this really brought me back to a time
0:45.9	when I didn't really understand how to handle a lot of these difficult conversations in business.
0:50.6	I didn't realize how simple it was and what the solution actually was, which is the same solution for pretty much everybody. And so I'll tell you a little story.
0:57.9	Back when Alex and I started Allen, it was our software company, you know, when we started the
1:02.3	company, it was really just like, how do we create this tool that our customers can use
1:07.2	within our current business? It wasn't like trying to create something that was a
1:11.9	standalone business. It was actually just supposed to be a tool that our customers used. And then
1:15.8	over time, we were like, wow, actually, this is a software thing of its own. It actually
1:20.4	probably deserves its own team. It has like a completely different customer base than we
1:24.3	actually thought. And it's its own standalone product. And so we transitioned
1:29.0	into really separating it and, you know, it was incubated in our current business and we kind of took
1:34.3	it off and created it into its own team. Through that process, you know, we rolled out different
1:38.9	versions of the product. So if you're in software, you know that you kind of roll out like V1, V2,
1:43.9	it's like you start with the2, it's like you start
	...

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