Build with Leila Hormozi If You Want to Scale, Stop Doing This... | Ep 36
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May 11, 2023 The conversation dives into the top mistakes businesses make when scaling from seven to eight figures. Key insights include the dangers of incurring too much management debt and the risk of CEOs stepping away too soon. Fear of reinvesting in talent can stifle growth, while letting ego block progress is another pitfall. Emphasizing the importance of doing the necessary, albeit boring, work, the discussion highlights the critical balance between delegation and hands-on leadership for lasting success.
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Management Debt
- The biggest obstacle to scaling a business from seven to eight figures is often accumulated management debt.
- This means holding onto underperforming employees for too long, hindering growth.
CEO Involvement
- CEOs should avoid stepping out of daily operations too soon when scaling.
- Stay involved in leadership meetings and maintain a close connection with your team and company values.
Premature Outsourcing
- Leila Hormozi shares an example of a CEO who prematurely outsourced operations, leading to a team blowout and business disruption.
- This highlights the dangers of disengaging too early.