274 - Building Businesses The Right Way — with Leila Hormozi
Jan 17, 2024
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Leila Hormozi, a serial entrepreneur and investor, shares her remarkable journey from fitness trainer to building a multi-million dollar holding company with her husband. She discusses the importance of personal quirks in leadership and why critique often outweighs compliments. Leila emphasizes a collaborative business approach that nurtures workplace joy, and she underscores learning from failures over celebrating mere successes. Her insights on creating impactful investments and maintaining authenticity offer a fresh perspective on entrepreneurship.
Embracing personal quirks and staying authentic is crucial for business success.
Building a billion-dollar business should prioritize benefiting everyone involved and creating a positive impact.
Deep dives
The importance of being true to oneself
In the podcast episode, the speaker discusses the importance of being true to oneself and embracing personal quirks and unique characteristics. They emphasize that while some may criticize or question certain aspects of their personality or brand, it's important to stay authentic and not be afraid to show the real version of oneself.
The drive to reach a billion-dollar business
The podcast delves into the motivation behind striving to build a billion-dollar business. The speaker shares their curiosity and desire to understand what it takes to achieve such a significant milestone. They also express a strong intention to build a company in a manner that benefits everyone involved, creating a positive impact and becoming a role model for others in the industry.
The art of investing in successful businesses
The podcast explores the speaker's experience and strategy when investing in businesses. They explain that one important factor is selecting founders who possess unique skills and have a strong support system. Additionally, they highlight the importance of identifying and addressing the constraints that may be limiting a business's growth. The speaker also emphasizes the need to constantly learn and improve their skills in investing.
Embracing honesty and embracing criticism
The podcast highlights the speaker's commitment to honesty and transparency. They discuss their willingness to speak the truth, even if it means facing criticism or negative comments. The speaker believes that there is value in learning from criticism and that it can contribute to personal growth and improvement. They also address the challenge of dealing with mean comments and the importance of finding a balance between being authentic and maintaining professionalism.
Leila Hormozi began her career at the age of twenty-one as a fitness trainer. After realizing that every business sells in different ways, she began to understand how to succeed in her field and became one of the top-selling personal trainers in Southern California. After meeting her now-husband, Alex, they propelled Gym Launch and several other businesses to success. They now run the multi-million dollar Acquisition.com, a holding company for their businesses, as well as a platform for investing in other businesses. They are not only running multiple businesses, but they are also influencers in that world and have built successful social media presences across multiple channels.
In the second part of a two-part interview, Leila and Chris focus on some of the lessons she has learned from running her own businesses and being an investor in others. They talk about what Leila wants to focus on when investing in new businesses, the ins and outs of embracing personal quirks as a business leader, why critique is more important than compliments, and the transformative power of self-acceptance. Leila's specific approach to business, focusing on benefiting everyone involved rather than stepping on others to reach the top, is enlightening. She emphasizes the importance of creating a working environment where everyone loves to work and partner with the company. Her perspective on the future of her business and personal life is both intriguing and inspiring.