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Build with Leila Hormozi

Why Your Business Doesn't Go Past $3-10M | Ep 9

Build with Leila Hormozi

Leila Hormozi

Business, Management, Education, How To, Entrepreneurship

4.91.1K Ratings

🗓️ 7 February 2023

⏱️ 19 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

If you have a great experience, but you have no results, you typically a very unpredictable turn.

0:05.4

Some people will stay because they really like the experience. They love your team. They feel good

0:08.6

when they talk to you. But then when people leave, it's really unexpected. You don't understand why.

0:12.1

But it's usually because you're not getting them any results.

0:15.4

How do you create an unshakable business? I cross $100 million in net worth by the age of 28. Now I'm growing

0:21.4

acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've

0:25.8

learned in scaling big businesses and helping our portfolio companies do the same.

0:29.8

Buckle up and let's build. Listen, most people assume it's lack of marketing, lack of sales,

0:37.1

lack of product market fit.

0:38.5

Yes, all those things are important, but there's one thing that's specifically missing

0:42.1

that most people never pay attention to and honestly never figure out in business.

0:46.1

And that's why they just continue to over and over again start another business and another

0:49.7

and another.

0:50.2

And they hit the ceiling that they can't get past because they don't get this one central concept.

0:55.4

So the way that I discovered this concept was that when we started building our software, Alan,

0:59.9

which we ended up selling about a year and a half ago, I started studying everything I could think of

1:03.9

and everything I could find on software. And when I was studying software, I realized that so many of

1:08.4

those aspects applied to service businesses, but the reason it was so good to find from software is that people in the software industry

1:14.9

and who have software businesses are much more quantitative than those who are not.

1:19.5

Because when you have a piece of software, you're much more likely to have different data sources

1:23.5

built in and more tracking and more KPIs and more metrics, whereas a service business doesn't

1:27.6

need those to survive. And so a lot of the times, software has better metric tracking than does service

...

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