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Lessons Learned from Investing in 22 Companies (Pt.2) | Ep 609
The Game w/ Alex Hormozi
Importance of Experience on Business Teams
Having experienced individuals, or 'gray hair', on a business team is crucial as they bring the 'been there, done that' perspective. The 80-20 rule suggests that 20% of the team should have already achieved the goals the business is aiming for. This is especially important for first-time founders as they often become the limiting factor in business growth. Teaching everyone everything limits the potential for massive business growth within a short time frame. Therefore, it's unrealistic for one person to impart all the necessary knowledge. Having experienced leaders in key functions is essential for the business to reach its desired goals.
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