Answering Questions [Live Workshop]

Summary

• I learned that YouTube content doesn't need to be about getting viral views. Instead, focus on creating impactful content for a smaller, more engaged audience.
• Only produce content that excites you. If I'm not excited about the topic, it shows and the content performs poorly.
• To fast-track employee training and maintain high quality, invest heavily in the onboarding process. Use intensive training sessions to immerse new hires and build relationships.
• Regain trust from your team through transparency and honesty. Address mistakes openly and involve them in finding solutions.
• When scaling from $3 million to beyond, hire an operator who matches the current scale, knowing you might need a different one as you grow.
• Manage a high number of direct reports by having frequent, short check-ins rather than infrequent, long meetings. This maintains accountability and performance.
• Ignore negative trolling on social media. Focus instead on creating positive content that can bury the negative comments.
• For a business capped on acquiring email lists, increase customer value. Introduce higher-ticket products to boost revenue from existing customers.
• Creating a brand takes time and effort. Despite short-term challenges and low returns, continue to pursue it for long-term benefits.
• Hold people accountable by linking feedback to their personal goals. Critique actions and provide clear guidance on what to do instead.
• Family businesses need careful handling. Sometimes, to grow, tough decisions must be made about who stays. If the family is enthusiastic but lacks vision, create compelling presentations to share your enthusiasm and vision.
• Transitioning to new senior leadership should be slow and smooth. Ensure overlap and frequent check-ins to ease the process.
• Focus on growth activities if you want to scale. Hire to backfill other roles so your time is spent on activities that drive business growth.
• Avoid split attention between completely different business models as it can hinder overall growth. Focus on expanding in ways that align with your core business.

Video

How To Take Action

Implementing Low-Cost, High-Value Strategies for Growth

I would suggest implementing a few key insights to drive growth, whether you're a small business, an entrepreneur, or someone pursuing personal growth.

Content Creation and Brand Building

Focus on creating content that excites you and has a large impact on a smaller, engaged audience:

• Create Engaging Content: Don't worry about viral content. Make videos or posts about topics you are passionate about. The excitement will show, and you'll build a more loyal audience.
• Leverage Authenticity: Keep it real and casual, especially if you're more conversational. This can help in videos or social media posts.
• Consistency: Aim for a consistent schedule of shorter, frequent posts or videos rather than infrequent long ones.

Team Training and Onboarding

For businesses, fast-tracking employee training by investing in a strong onboarding process can make a big difference:

• Batch Onboarding: Conduct a week-long training for new hires to build relationships and immerse them in the company culture.
• Regular Check-Ins: Supplement initial training with weekly sessions to reinforce learning and address issues.

Transparency and Trust

Regain or maintain trust within your team by being transparent and including them in decisions:

• Own Mistakes: If you make a mistake, address it openly and involve your team in finding solutions.
• Consistent Communication: Have frequent short check-ins to maintain accountability and performance.

Managing Social Media Negativity

Ignore negative comments and focus on amplifying positive content:

• Positive Content: Create more positive posts to overshadow any negative comments.
• Don't Engage: Don't waste time engaging with trolls; it’s not productive.

Increasing Customer Value

If your growth is capped, focus on increasing the value of your existing customers:

• High-Ticket Products: Introduce higher-priced products or services to boost revenue.

Brand Development

Building a brand takes time but is worth the effort:

• Long-Term Focus: Stick with brand-building activities even during challenging times.

Accountability and Feedback

Link feedback to personal goals to make it more effective:

• Critique Actions: Focus on actions and provide clear guidance on what to do differently.

Family Business Dynamics

For family businesses, careful handling and clear vision-sharing can ignite enthusiasm:

• Share Vision Compellingly: Create exciting presentations to share your vision and spark enthusiasm within the team.

By implementing these strategies, you can achieve growth effectively while keeping costs low and ensuring high-value outcomes.

Quotes

"I've learned the difference between getting views and building a brand"

• Leila Hormozi

"You care more about having a larger impact on lesser people"

• Leila Hormozi

"The only thing that builds trust quickly is transparency"

• Leila Hormozi

"Frequent short communication is better than long less frequent communication"

• Leila Hormozi

"If it's staged, it underperforms for me"

• Leila Hormozi