Build with Leila Hormozi How to Beat Everyone By Outlasting Them | Q&A Ep 198
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Oct 23, 2024 Discover the importance of creating a passionate work environment that fosters collaboration. Explore the secrets behind effective leadership and the challenges of hiring during acquisitions. Learn about scaling businesses and the need for self-awareness in strategic growth decisions. Dive into personal journeys of self-acceptance and how authenticity shapes relationships. Finally, uncover strategies for maintaining a positive remote work culture while prioritizing long-term engagement.
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Hiring CEOs
- To hire good CEOs, focus on their experience and fit the private equity model.
- Use executive search firms and leverage their brand to attract top talent.
Profit Interest Plans
- Key employee profit interest plans can be good, but ensure they're structured well and given to the right people.
- For key personnel, consider starting with 2% profit interest, adjusting based on company size and total employee allocation (around 10%).
Managing Underperforming Employees
- When evaluating employee performance, consider whether you provided adequate training and hired someone with the necessary skills.
- Letting go of an underperforming employee, even if it's uncomfortable, can be beneficial for both the team and the individual's career.