The Game with Alex Hormozi The One Problem Every Entrepreneur Has… | Ep 597
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Aug 24, 2023 Entrepreneurs face a critical challenge: hiring and retaining the right talent. The discussion highlights the importance of understanding team dynamics by identifying strengths and weaknesses. Employee accountability and problem-solving skills are also emphasized as essential for a thriving business. Prioritizing customer experience through effective brand management is a key takeaway. Alex shares insights on setting high standards to attract top talent, crucial for driving business growth.
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The Core Entrepreneurial Problem
- Entrepreneurs face one core problem: finding, hiring, managing, and growing talent.
- This "people problem" becomes critical after reaching $10-30 million in annual revenue.
The A-Player Brand Manager
- A newly promoted brand manager showed initiative by researching and rejecting subpar apparel manufacturers.
- She then found higher-quality options and presented a solution, demonstrating ownership.
Intolerance for Mediocrity
- Find people who prioritize excellence and take ownership.
- Leaders should have the lowest tolerance for mediocrity, setting a high standard for the entire team.