Leila Hormozi scaled to over $100m before the age of 29. Since her early 20’s Leila has personally built, scaled and sold three businesses. Find out how she achieved this success and her top tips to accomplishing this too.
Leila Hormozi: The Story So Far
Leila has learned a great deal from her experiences, but she believes that the insight she has exists independent of industry.
- One invaluable lesson she learned has to do with scalability.
- She believes that most entrepreneurs lack the “who”, the “what”, and the “how” when it comes to scaling – and they pay dearly for it.
- Not only was she able to master all of these things, but she also did it using other people’s skills.
A Changing Perspective, Or: How to Scale By Default
As far as Leila Hormozi, the issue that most brands face isn’t that they don’t know they should scale. They inherently understand how important it is. They simply don’t know what they have to do to achieve those results. They don’t know who can help them do it – be it someone they already employ or someone outside their organization that they can seek assistance from.
At Acquisition.com, they do things from a slightly different point of view.
- They specifically go recruiting for the “who” part of the equation. At that point, they sit back and listen – understanding what they need and going out of their way to make sure they have the “what.”
- They then show them the “how” within the context of the specific brand they’re working with.
- In other words, they make sure that an entrepreneur who knows how to scale has the resources they need and the insight into the brand to pull it off.
- At that point, a business essentially scales by default – precisely the way it should be.
After trying to scale via the “traditional” model and almost going bankrupt no less than two times, leadership began to realize that maybe this wasn’t the model they should be following. Change was in order, and it was needed quickly. As soon as Leila Hormozi and her team paired talent acquisition with client acquisition, for example, they scaled from $400,000 per month to $4 million per month in sales in just 20 months.
That was largely the light bulb moment for them. Things started to go so well so quickly that they realized they were only one hire away from all the growth they could ever want. That in turn would translate to all the leverage they needed in the marketplace.
Suddenly they had regained all the sanity they thought they had lost after countless attempts to throw anything at the wall to see what would stick, only to realize that nothing did.
They also learned that they were just “one right hire” away from all the lessons they didn’t have the time to learn themselves.
Putting the Pieces in Place
In the end, Leila Hormozi believes that someone’s number one job as a leader is always to find the right people to help them build their business. You see this happen constantly across all aspects of an enterprise. A true leader doesn’t surround themselves with “yes men ” and “yes women” who will only agree with them and do little else.
- They should be surrounded by people who are smarter than they are.
- Who have skills that they lack. Who are willing to challenge their authority as often as possible.
Why should the people behind the scalability of the same business be looked at any differently?
You don’t need someone who will just sit back and follow orders.
You need someone who knows exactly what is needed to scale that business in the ways the market demands.
Think about things from the perspective of a professional football team. Yes, the coach and the quarterback get a lot of attention. But to start racking up those championships, you need a lot more than that. You need a solid offense. You need an excellent defense. You need special teams, coaches, trainers, and more.
Translating that to the world of business, that means you need digital marketing professionals. You need people proficient in email marketing. You need sales experts. You need the product people. You need finance, human resources, legal, and beyond.
Making sure that all of those positions are in place is what is required to scale a business in the modern era. Once you start thinking about things from that perspective, scalability isn’t something that you’ll have to worry about for much longer.
You can then move onto the rest of the items on your list, like digital marketing and email marketing, and continue to build the strongest brand that you can for years to come.
To find out more information about how to harness the power of other people’s skills to your advantage, or to get insight into some of the other fascinating presentations that took place over the course of the event, visit us today.