Build with Leila Hormozi We Were Stuck at $10M Until We Did This... | Ep 58
Jul 27, 2023
Discover the secrets to scaling a business beyond the $10M mark. Learn about the three vital components of success: promotion, product, and people. Explore how these elements interact and why a strong operational team is essential. Plus, find out why a CEO might focus solely on product, and the importance of complementary strengths within a team. Buckle up for insights that can transform your approach to building an unshakeable business!
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The Missing Operator
- Leila Hormozi discusses a client company with two CEOs lacking a clear operator.
- This observation led to her "three legs of a business stool" insight: promotion, product, and people.
Three Legs of a Business Stool
- Successful businesses have three core elements: promotion, product, and people.
- These elements represent the three legs of a stool, and all are necessary for stability and growth.
Allen Software: A Cautionary Tale
- Leila Hormozi and her partner Alex sold majority stake in their software company, Allen, due to lacking a product-focused leader.
- Despite financial success, the product suffered from bugs and lack of innovation.