The Shocking Truths About Business YOU NEED TO HEAR

Summary

• I reached a $100 million net worth by 28 and now manage a $500 million portfolio.
• Preparing for the week before Monday is crucial. If you catch up on Monday, you're already behind.
• Mastering the use of a calendar is essential for success.
• Track your time meticulously to understand where your attention goes as it impacts your business growth.
• Planning ahead saves time during the week, allowing you to be proactive rather than reactive.
• Preparation can make anyone look smart because success often lies in being well-prepared rather than naturally talented.
• Leaders must show up certain and confident to inspire commitment in their teams.
• Indecision and lack of clarity in a leader create uncertainty within the team.
• Both overconfidence without direction and lacking confidence are harmful. Find a balanced approach to leadership.
• High demand with low clarity leads to overwhelm; clarity in tasks reduces stress.
• How you react to situations creates certainty, even in uncontrollable circumstances like COVID.
• Decision-making speed influences the speed of business growth. Delaying decisions hinders progress.
• Every unmade decision depletes your mental energy. Make decisions promptly to unlock growth.
• Making decisions involves choosing trade-offs rather than seeking perfect solutions.
• Focus on the process rather than just the outcome when making decisions.
• Don't let small problems grow into bigger issues. Address them promptly.
• Quality drives demand. Focus on improving your product or service to create pull from the market.
• Teaching is a core aspect of leadership. Invest time in training and mentoring your team.
• Constant communication and education are key to team development.
• Embrace the repetitive nature of teaching; it's essential for mastery and effective leadership.
• Effective leaders see every interaction as a teaching opportunity and focus on long-term development.

Video

How To Take Action

I would suggest implementing a few key strategies to start boosting your business or personal growth.

First, prepare for your week before Monday. Spend a couple of hours on Sunday planning out your meetings and tasks. This way, you start Monday in execution mode, not planning mode. It’s a small effort that saves you a ton of stress during the week.

Second, master your calendar. Every minute should have a purpose. If you know where your time goes, you can allocate it better. Try doing a time study: document what you do every hour for a week. It helps you see where you’re wasting time and how you can be more productive.

Also, remember that leaders need to show certainty and confidence. Your team looks up to you, so make sure you communicate a clear vision. If you're indecisive, it trickles down and creates uncertainty. Be balanced—not too stubborn but not lacking confidence.

Another point is to make decisions fast. Don’t delay decisions. The faster you decide, the faster your business grows. Think of each decision as a step forward. Even if it’s a mistake, you can learn and adjust quickly.

Focus on the quality of what you offer. Instead of pushing your product or service aggressively, make it so good that customers demand more. High-quality offerings lead to word-of-mouth referrals, which are gold for any business.

Communication and education within your team are crucial. Invest time in teaching and mentoring your team. Every interaction is a chance to teach something valuable. Repetition and patience in teaching lead to mastery and effectiveness.

Address small problems before they become big issues. Regularly check what minor issues you’re avoiding and tackle them head-on. It’s easier to fix a small crack than a big hole.

Finally, react with certainty to uncontrollable situations. How you handle unexpected events reflects on your leadership. Stay calm and confident, and your team will follow suit.

These strategies are low-cost and high-value, making them easy to implement but powerful in their impact.

Quotes

"Hot take: if you are catching up Monday morning from the weekend, you are already behind"

– Leila Hormozi

"How do you expect to make millions of dollars if you haven't mastered using a calendar"

– Leila Hormozi

"Leaders who lack certainty create followers who lack commitment"

– Leila Hormozi

"We don't rise to our level of expectations, we actually rise to our level of preparation"

– Leila Hormozi

"The speed at which you make decisions sets the speed of the business"

– Leila Hormozi