Giving Honest Leadership Advice to 7 Business Owners

Summary

• Practice patience by focusing on one task at a time, as juggling multiple responsibilities often slows progress.
• Prioritize tasks and ensure each one contributes to your overarching goals, avoiding activities unrelated to those goals.
• Understand that saying "no" to opportunities can lead to sustainable, long-term success by preventing overextension.
• Develop an 'end goal' and align all actions and decisions with reaching that goal, cutting out distractions.
• Recognize the need for focus and patience within organizational and personal growth, particularly when feeling overwhelmed.
• When considering expanding your business, ensure you have a solid foundation and fully understand your existing operations before franchising.
• Franchising can complicate business operations and may not always benefit franchisees, so explore corporate ownership as a scalable alternative.
• Invest in tools, resources, or courses that improve your skills and productivity, especially if they contribute to client satisfaction and business growth.
• Seek a balance between enhancing client service and investing in your professional growth.
• Articulate the added value of your skill improvements to clients, potentially sharing costs for mutual benefit.
• Aim to understand and align business outcomes with client expectations, rather than just meeting client demands for views or impressions.
• Educate clients on the impact of your work and how it relates to sales or business growth, establishing yourself as an industry expert.
• Seek to hire people who can perform your current role, allowing you to focus on the strategic, revenue-generating tasks of your business.
• Identify the work you enjoy and are skilled at; structure your business so that it allows you to do that work without burnout.
• Consider creating a system or business model that generates passive income, or requires less direct involvement, to prepare for retirement.
• Think about products that align with your expertise, and develop a membership program or a backend product library to provide value while reducing individual workloads.

Video

How To Take Action

I would suggest starting with the basics. If you're feeling like you're doing too much at once, try to focus on one task at a time. It might feel slow but it'll actually make you faster because you're not splitting your energy.

Make sure to work on things that are really important for your goals. If it's not helping your big goal, it's okay to say no to it. This will keep you from getting too tired and help you stay on track for what matters most.

When you're doing something, think about your end game—what you really want in the long run. Every choice you make should help you get there. This will help you say no to stuff that gets in the way.

If you have so much to do that you feel stressed, it means you need to focus more. It's especially important when things are really busy. Patience and focus will help a lot.

If you're planning to make your business bigger, first make sure you really understand it well. If you're thinking about making your company a franchise, remember it can make things more complicated. Consider keeping control over the business as it grows.

Spend money on tools or classes that will make you better at your work. When you do that, you can do a better job for your customers. If you learn something new, tell your customers how it can help them too.

It's good to get better at what you do for your clients, but also put some time and money into your own growth. That balance will help you and your business get stronger.

Show your clients how your work helps them make more money or grow their company. Don't just focus on how many people see their stuff. This helps them see you as an expert who knows a lot about the industry.

Think about hiring someone to do some of your work so you can focus on big plans that will make more money. Look for people who can do your job well.

Find the work you love and are great at, and build your business so you can keep doing that without getting too tired.

For retirement, think about making money in ways that don't need you to do all the work yourself. Maybe create a service or product that brings in money even when you're not there.

Good luck! Remember, you've got this!

Quotes

"Patience is just figuring out what to do in the meantime until you hit the goal"

– Leila Hormozi

<<<

"Build the machine, don't be the machine"

– Leila Hormozi

<<<

"I don't think we got 12 months. I think it's gonna take a little longer"

– Leila Hormozi

<<<

"If you want to set yourself up for retirement then I think that you would want to commit to putting a few more years in of work now to set yourself up for that"

– Leila Hormozi

<<<

"Recruit my best teammates like the one that you described"

– Leila Hormozi