Advancing in business control involves transitioning from managing sales to teaching and leading a group, including recruiting, hiring, training, and compensating. As business scales, the focus shifts to leadership by empowering a small group to lead others, relinquishing direct control over every function. This transition challenges one's identity and necessitates evaluating what aspects of control are crucial to maintain. Letting go of control while maintaining a leading example facilitates the establishment of a strong business culture. A critical aspect is questioning which parts of identity are being sacrificed by relinquishing control, and the realization that sustainable success requires decentralizing control and nurturing a team capable of independent performance.
“It is always uncomfortable because the thing that you are now holding onto is the thing that you have to give up.” Today, Alex (@AlexHormozi) shares valuable insights on managing the delicate balance between control and delegation in the entrepreneurial journey, drawn from his experience of scaling acquisition.com to a billion-dollar portfolio. He focuses on the importance of understanding your business's intricacies and overcoming trust issues to embrace delegation, crucial for achieving significant business growth and personal freedom.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(0:38) - Navigating control in the entrepreneurial journey
(1:14) - The shift from complete control to delegation
(2:04) - Scaling your business by buying back time
(3:11) - Understanding your identity and control in business growth
(7:04) - The ultimate rule of thumb for entrepreneurs
(8:54) - Overcoming personal barriers to success
Follow Alex Hormozi’s Socials:
LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition
(This episode is a re-run. Original airdate was on April 19, 2021)