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Build with Leila Hormozi

Why Accountability Creates a Culture of Success | Ep 138

Build with Leila Hormozi

Leila Hormozi

Entrepreneurship, Education, How To, Management, Business

4.91.1K Ratings

🗓️ 6 May 2024

⏱️ 20 minutes

🧾️ Download transcript

Summary

Get the unfiltered memos I send my team as we scale Acquisition.com to $1B+: Leila's Letters

Transcript

Click on a timestamp to play from that location

0:00.0

There was a point where I felt resentful of my team.

0:03.0

Like, I did all the work.

0:04.4

Why do I have all these people here?

0:06.0

Like, I was hiring people.

0:06.9

I was making less money.

0:08.2

And I took a really hard look at myself and at the team.

0:11.9

And the hardest thing to realize was that it was an attribute of our culture that I myself had created, which was there was not a high degree of accountability.

0:25.8

Music had created, which was there was not a high degree of accountability. How do you create an unshakable business?

0:28.4

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

0:31.5

Now I'm growing acquisition.com into a billion dollar portfolio.

0:34.6

In this podcast, I share the lessons I've learned in scaling big businesses

0:37.7

and helping our portfolio companies do the same. Buckle up and let's build. 50% of businesses

0:45.4

fail in their first two years. So today, I'm going to teach you how to not be one of them.

0:50.4

So what is it? What is the reason that all of these businesses are failing? If you look up the reasons

0:55.0

that most businesses fail, it is not that they fail from the outside in, is that they fail from the

0:59.6

inside out. What does that mean? It means that the inside of the business is not strong enough

1:04.4

to accommodate the demand that is put on the business. Most leaders have no idea how to hold their

1:10.3

team accountable. So they hire a

1:11.8

bunch of people, which maybe you've done. And then they're like, these people suck, which is why so many

1:15.8

of them go out of business from literally not having this one skill. And that is accountability.

1:21.6

So what is accountability? It is the quality or state of being responsible to one's obligations.

1:27.5

Holding someone accountable means reinforcing them. It is the quality or state of being responsible to one's obligations.

...

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