Stop Being a "Wantrepreneur" | Ep 14

“You're not letting yourself see the gap that is actually needed to fill the business." Today, Leila (@LeilaHormozi) shares with us the importance of accountability and the inverse correlation between overwhelm and accountability in running a successful business. She also shares her experience of struggling with overwhelm & provides mindset and tactical shifts that helped her hold people accountable and drive a high-performance team.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:(1:44) - Overwhelmed entrepreneurs hold people less accountable.(2:56) - What happens when you don't hold people accountable?(5:47) - What true accountability looks like.(8:34) - Belief: I may not have set expectations correctly.(9:13) - Not holding people accountable harms company and culture.(10:38) - Holding people accountable is part of the job.Follow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

4 Maj 202312min

Never underestimate the power of operations. Today, Leila (@LeilaHormozi) shares with us how to increase revenue through operations, the importance of infrastructure, and five ways to drive revenue through operations.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:(2:57) - Hiring too junior employees causes constant operations staff changes(5:02) - 1st Hack: Improve onboarding customer experience(7:01) - 2nd Hack: Renegotiate vendor relationships(8:44) - 3rd Hack: Increase business through referrals(10:19) - 4th Hack: Fast access to information with good bookkeeping(13:26) - 5th Hack: Formal communication with direct reports for revenue growthFollow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

2 Maj 202317min

Have you noticed any of these signs with your own remote employees? Today, Leila (@LeilaHormozi) shares with us the six red flags to look out for when hiring remote employees. She also stresses the importance of investigating these red flags and clarifying their reasons.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:(2:03) - #1: they are slow to respond(3:11) - #2: No good news is being said(4:37) - #3: When the camera is off(5:30) - #4: Calling in sick immediately(6:28) - #5: They dress out of step(7:27) - #6: They don't have their tech set up before they startFollow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

27 Apr 20239min

No solution is perfect… ever. Today, Leila (@LeilaHormozi) shares the common issue of "solution hopping" in business, where individuals continuously switch strategies in search of the perfect solution. She also explains that there is no ideal solution. She suggests three beliefs to replace those that prevent individuals from sticking with a solution, ultimately leading to a more prosperous and less stressful business.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:(2:51) - There's never a solution that comes without problems(3:57) - 3 irrational beliefs about solutions(5:35) - 3 realistic beliefs about solutions(8:03) - Constant solution hopping leads to incurring costs without realizing benefits.(8:50) - Here's how you actually pick a solution to go with(11:36) - Success doesn't mean that you've never solution-hop againFollow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

25 Apr 202313min

"Everything that makes you good at making money can also make you bad at investing." Today, Leila (@LeilaHormozi) shares with us the challenges entrepreneurs face when investing their money and provides frameworks to help them make smart investment decisions. She also emphasizes the importance of understanding the differences between success principles in business and investing.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:(1:34) - Money solves small problems but can create bigger ones.(2:55) - Best investors avoid extremely volatile investments.(4:03) - More investing time doesn't mean smarter investments.(5:41) - Working hard doesn't guarantee smart investing decisions.(6:40) - Too much attention on investing can lead to mistakes.Follow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

20 Apr 20239min

“Other people in your business are not responsible for obeying the feeling of guilt that you have.” Today, Leila (@LeilaHormozi) shares with us how companies often make the mistake of compensating employees inappropriately based on personal beliefs about money, which can lead to overpaying and setting improper expectations. She also suggests developing a pay methodology based on fair market value and avoiding paying people more incorrectly, which can set them up for failure in the long run.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:(2:45) - Entitlement develops with pay & overpaying sets up failure(5:21) - Pay should not be tied to emotions(6:30) - False belief #1: more profit equals more pay(8:12) - False belief #2: sudden increase equals raise(10:06) - False belief #3: more money equals better people(11:12) - Make a pay methodology to avoid guiltFollow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

18 Apr 202313min

“You see something that you aspire to, you try." Today, Leila (@LeilaHormozi) shares her experience of feeling burnt out and wanting to end her successful business. She explains how she transitioned from productively procrastinating to productively failing by taking risks and making big decisions to continue growing her business.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:(0:32) - Burning out despite earning $4.4M a month(3:08) - Audit time, prioritize opinions, avoid small tasks(5:13) - Productively procrastinate by avoiding threatening tasks(7:39) - Avoid trying things that threaten your ego(8:38) - Shift from procrastinating to failing, audit decisionsFollow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

13 Apr 20239min

If you want to retain people, you have to help them ascend. Today, Leila (@LeilaHormozi) shares with us how to keep employees once hired, focusing on critical factors of employee retention: an opportunity for growth, measurable impact, fair pay, recognition, and community. She also discusses the importance of setting clear expectations, providing context, and emphasizing effective onboarding.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:(2:33) - Three pillars to training: context, expectations, onboarding.(9:14) - Five pillars of retention and ascension for employees.(12:01) - Have an employee growth plan for retention.(14:13) - Feedback to know what good looks like in training.(23:46) - Recognition: four ways to recognize people based on milestones.(25:21) - Create community within employee and client base for retention.Follow Leila Hormozi’s Socials:LinkedIn | Instagram | YouTube | Twitter | Acquisition

11 Apr 202328min