The One Problem Every Entrepreneur Has… | Ep 578

The Game with Alex Hormozi

Alex Hormozi

Business, Education, How To, Entrepreneurship

4.9 • 4.8K Ratings

🗓️ 24 August 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

"Every entrepreneur has one problem... a people problem. Attracting, hiring, and keeping the right team members can make or break your business." Today, Alex (@AlexHormozi) talks about the single problem that entrepreneurs are facing when it comes to company growth: the talent they hire. He also explains the various reasons why this is a problem for entrepreneurs and the steps to take to avoid it.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(1:51) - Differentiate team members' strengths, weaknesses, and roles.

(4:13) - Employee accountability and problem-solving skills.

(6:58) - Brand managers prioritize customer experience improvement.

(9:16) - Set high standards to attract top talent to your team.

Follow Alex Hormozi’s Socials:

(This episode is a re-run. Original airdate was April 20, 2021)

Transcript

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0:00.0	Real quick, guys, if you can think about how you found this podcast, somebody probably
0:03.8	tweeted it, told you about it, shared it on Instagram, or something like that.
0:07.5	The only way this grows is through word of mouth. And so I don't run ads, I don't do sponsorships,
0:12.2	I don't sell anything. My only ask is that you continue to pay it forward to whoever showed you or
0:16.5	however you found out about this podcast that you do the exact same thing. So if it was a review,
0:21.0	if it was a post, if you do that, it would be in the world to me and you'll throw some good
0:24.0	comment out there for another entrepreneur. You have to set the standard so that a,
0:28.5	players will be attracted to you and also so that you can have a team of A players and then the
0:32.3	entire culture rises, right? The wealthiest people in the world see business as a game.
0:38.8	This podcast, the game is my attempt at documenting the lessons I've learned on my way to build a
0:42.5	acquisition.com and to a billion dollar portfolio. My hope is that you use the lessons to
0:46.2	bring your business and maybe someday soon partner with us to get to a hundred million dollars
0:49.0	in beyond. I hope you share and enjoy. What I want to talk about is I just finished our strategic
0:55.3	meeting and it was so apparent some of the new talent that we brought in how much they were
1:00.5	really driving growth in some of our companies. I want to talk about this because I think it's
1:06.6	the single hardest thing that entrepreneurs face. Every single entrepreneur has one problem. They
1:10.2	think they have multiple problems but they have one problem and it's a people problem. They don't
1:14.6	know where to find good people. Number one, number two, they don't know how to hire and recruit
1:19.3	those people. Number three, they don't know how to manage those people. Number four, they don't
1:23.2	know how to grow and cultivate the talent. That entire process embodies what really growing a
1:29.0	business becomes after you get to probably about 10 to 30 million years when an ops release
1:34.4	really start taking over. Especially at 30, it's all about talent. I think I've said this before
	...

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