From $0 to $100M with Leila Hormozi – ep 111

Mostafa Hosseini  00:02

Welcome to daily confidence in this episode, you will discover the secrets to go from zero to $100 million. How to create major mindsets mind set shifts and leaps in your life and business, the most important things to running a successful business, and more. My guest today is Leila horn. Mozi. Welcome, Leila.

Leila Hormozi  00:23

Thank you so much. I’m excited to be here. Great to

Mostafa Hosseini  00:26

have you. I’m looking forward to this conversation. Let me do the proper introduction for Leila and we’re going to dive into going about how to go from zero to 100 million. Only a short six years ago, Leila started her first business on a whim with zero experience. Over the last last six years she has started and scaled for eight figure businesses, including Gym launch, and acquisition.com.

Leila and her husband Alex are Mozi have done over $130 million in direct sales, and now have diverse divested their interest in those companies to focus full time on their investment company acquisition.com, which currently exceeds $200 million a year in revenue across the company’s Leila is known for her expertise in scaling companies through creating rock solid culture, talent acquisition, and customer success. Welcome, Leila.

Leila Hormozi  01:20

Thank you so much. I’m excited to be here. Thanks for the introduction.

Mostafa Hosseini  01:24

Great to have you. We’re about are you?

Leila Hormozi  01:26

I’m in Vegas. So we’re here part of the time.

Mostafa Hosseini  01:29

Nice. And what’s it like out there right now.

Leila Hormozi  01:34

Um, it’s actually probably the perfect time of the year because like, in June and July, it’s like 115. So it’s like you’re basically walking in an oven or a hairdryer. Once you get to September, it’s, it’s nice. It’s good weather.

Mostafa Hosseini  01:46

Awesome. Awesome. So let’s dive into it. Leila. Tell us about your story.

Leila Hormozi  01:51

Yeah, so um, I guess I’ll rewind back to man to back into college. So I grew up in a small town in Michigan, Portage, Michigan actually. Which is, you know, as I was growing up, it’s pretty much you want to be a doctor, a lawyer, you want to work at the local hospital, like most people don’t aspire to entrepreneurship. There wasn’t anyone I knew really that own businesses.

In fact, it was all just like, you know, where are you going to work in town. And at a young age, I knew that I didn’t really want that, because I saw how miserable so many people were, who kind of followed that path and never like, ventured out anything more. And so at a really young age, I started looking at like Jim Rohn and Tony Robbins, and like listening everything they said, and I had my sights fixed on leaving Michigan and going to California.

And so I stayed and I went to college in Kalamazoo, Michigan, which I didn’t get much from that, but that’s okay. It was a good experience socially. And I think like living on my own and such. But in general, like college, like, I wasn’t like, I think some people like Oh, I was like a terrible student. I never like I was fine. But I wasn’t even like, great. I wasn’t terrible.

 I was like, honestly, average, I don’t really care. I didn’t really think it’s gonna make a difference in my life. I just knew I wanted to finish college so I could get to California. And so the day after I graduated, I moved out on my own, I packed up my Prius with all my belongings. And I drove out to California, and moved into some apartment in Costa Mesa that when I showed up, there’s like, literally barbed wire fencing.

And it was like, kind of in the ghetto, which I didn’t realize, but I found on Craigslist, it was like the cheapest I could do. And so I moved there with I think I had $7,000. And my rent was like 15 or 1800 a month. And I was like, man, I’ve like got to get something going for myself, because I’m not going to be able to like stay here more than six months, I signed, you know, a year lease. And so I moved there and I realized, you know, okay, I graduated. The one thing I knew is fitness.

And so I had sight fitness, I went to school for Exercise Science, useless degree, and then we went out there and I was like, Okay, I’m just gonna walk anywhere that’s walkable from my apartment. So I don’t spend money on gas. And I’m going to find a gym that I can work at. So I literally applied to every gym. And I knew that I would get a job because I was like my experience like I’ve been a trainer I had a degree in out of certifications, like I’ll get a job anywhere.

And I did I got like five acceptances. And so then I actually tried out like each gym for like two weeks to see where I wanted to work. And I ended up at 24 Hour Fitness. Main reason was I got accepted at like to other places that were much more pristine, like prestigious gyms. But you had to basically do an internship for three months, and I was like, I need to make money now. So I went to 24. They were like, you can hit the ground running immediately and start selling membership packages and personal training packages.

The first day I got there, I showed up and they’re like, You need to go get 20 referrals and I was like, they hand me a clipboard. It’s me and like 20 other people that they just hired, they hired like 20 ones that go get 20 referrals and I was like, okay, and I was like how and they were like, just go ask people here and outside and I was like, Okay, I have no idea if this is hard or not like it’s like at that point. I’ve never done sales before. I have no experience with business.

I just know Know how to get people to lose weight. And so I go and I remember I go around and collect it. I was like crap, I only got 14. And it was in like 45 minutes. And I come back and I walk past the front desk. And there’s two girls sitting on the curb crying with these clipboards and I looked at them, I was like, what’s wrong? Why are you crying? And they’re like, I couldn’t get any referrals. And I was like, why? And they were like, I can’t just go up to people and ask them for this. And I was like, I can’t I have to make money, like, I’m gonna, I’m gonna make rent next month. So like, I don’t care about these referrals.

So the, the guy was really impressed, he hired me on the spot. And that is where I kind of like cracked my teeth and sales, because what I realized very quickly is he’s like, Why do you wanna work here, I’m like, I have a passion for helping people. Like I really, genuinely just want to help people get into shape and lose weight, because I’ve done so myself. And I felt really compelled to do that for other people. What I didn’t realize until I got there was that if you don’t know how to market and you don’t know how to sell, then you can’t actually fulfill on the thing that you want to do, right.

And so I very quickly threw myself into sales, and learning that. And it was really tough in the beginning, but I just was kind of like in a do or die situation. I was like, I have to do this, like, yes, if I ran out of money, I could like move home with my parents. But like that was so humiliating to me that I really needed to make it work.

And so I read as much as I could on sales, I put myself in the situation. And I ended up working my way up to be one of the top salespeople in a short amount of time. And so from there, I gained a ton of confidence. And I started basically in person training, online training. And that was for about another year and a half that I had like a full roster in person online. I started competing in bikini competitions. And I thought that I was gonna build this huge career in fitness. That was kind of my idea for myself. I was like, I know, I want to build a business and fitness.

I just don’t know what it is yet. And at that point in time, I was also dating. And that’s when I was on Bumble, and I swiped I met this guy named Alex. And he asked me out on a date to like throw you. And I was like, okay, not dinner. And he’s like, Well, this is low commitment. So if I’m weird, you can leave and I was like, cuts guys odd. Then he calls me and he’s like, Hey, I figured we could do our first date on the phone. So that when we have the fro, yo, it’s almost like a second date. So we can just expedite this. And I was like, I thought it was hilarious.

 Because honestly, I was just sick of people kind of just messing around and like not being serious about relationships.

So I appreciated it. So we went we met for fro yo and on the first date. He’s like, Listen, he’s like, I’m in fitness. You’re in fitness. You’re super ambitious. I’m super ambitious. Like, let’s just do something together. And I was like, what? Like, what are you talking about? Like we just met on this date like crazy. Going a little too fast? Yeah, I was like what was happening? And I told him was like, listen, like I don’t, this is complicating everything right now.

Like, let’s just date and like, we can talk about this later. And he just kept planting the seed in my ear. And so one day, I think we were like two weeks into dating, and I came back to his house have dinner. And there was like a binder on the table. And it had like gym launch LLC. And I was like, what’s that? And he’s like, Well, I started the company that we’ll do together. I’m like, what? And he’s like, yeah, he’s like, You need me to like, show you that this can be a thing. And I was like, What do you mean, he’s like, I’m gonna go fly out. I’m gonna show I’m gonna go prove that we can do this other locations. And then when I come back, you’re definitely gonna feel like you want to work with me. And I was like, Okay, so for like three weeks, he went out.

And he basically flew to other people’s gyms would use the marketing and sales that we understood to fill those gyms up and then would fly to a different gym. And he did that for three weeks. And he came back. And at that point, I think he made over like, $100,000. And at that point, I was like, Okay, well, this works. And he was like, Do you want to do it? And I was like, I think I’m sold. And at that point, you know, I’m 23, what do I have to lose?

And so to kind of fast forward, you know, from that point out, you know, I joined him, we flew out to location, he said that he would train me on the first one. And then I remember the first day, we had like, eight sales calls lined up or sales consults coming in person. And he’s like, I have to take a phone call, can you just handle this? And I was like, you haven’t I don’t even know what what do I say what what’s going on? He was like, you’ll figure it out. And I remember I went six for eight.

And so I just, I don’t even know what I said to these people. Like, I was like, Okay, well, that’s a gym, like, I’ll figure it out. And so then from that point out, you know, we basically would fly ourselves to gyms, and what we would do is we would do the marketing and sales for those gyms. And then we would fill them up and let them keep the customers and teach them how to retain them. And we did that over and over for about a year until we realized it was awful, and it was tiring.

And after countless attempts and, you know, partnering with the wrong people and having those people steal the money from location and then partnering with gyms who then asked all the people to refund and then they charged them on a different processor. Like so many things occurred, I think was about three times where we thought that we were gonna go bankrupt at that point in time.

And finally, we’re kind of at our wits end because one of the partners who we filled his gym I got a phone call one day on like a burner phone I had for that location, and it was this woman and she’s like, You won’t believe what it, I’ll call him Bill, what Bill did and I was like, What did Bill do? And she’s like, he just stood up on a chair. And he just told us all to charge back on what you sold us. And then he’s gonna say, and then he said, I’ll just charge you half of what Leila charged you.

And so just charged back on whatever she, you know, sold you, and then I’ll just give it to you for half. And we got like $100,000 in refunds in a week. And at that point, we’re like, this isn’t gonna work. We’re going bankrupt, like, we’re done. And we’re kind of sitting there. We’re like, what do we do? And I had still had like, an online, I was still doing, like, I had, like, 10 clients online, and I was helping with fitness. Alex, like, what if we just build a funnel, and then you just make this into like a program?

I was like, Okay, so like, overnight, he builds a funnel, I build the back end. And we started funneling people to that it was doing like $1,000 a day, so it was actually working.

Leila Hormozi  10:51

And then the next day, he’s like, Okay, I’m going to call all the gyms we have set up for next month and tell them nobody’s flying out. Like, we’re not doing any fly outs, like, we can’t help them. Like, we’re closing the business down. And he calls the gym and I’m sitting there like waiting, like, I’m like, okay, get let’s tell them, we’re not doing this, like, we’re so done.

And he calls and the guy’s like, You cannot leave me hanging. Like why he’s like, Dude, I’ve refinanced my house. I’ve tried everything, I’ve paid three other people, you helped my friend by going in, and you did this thing at his gym. And he’s like, out of the red now, like, if this doesn’t work, like I’m going out, and I can’t pay for my house for my family. And we were both like, like, you just feel awful when you hear that for somebody, and you’re like, you know, you can help.

And so he was like, Alright, man, well, like, I guess we could just show you what we do. But like, we’re not gonna fly out there. Nobody’s coming to your gym. And like, if you can’t do it, it’s not on us. And he was like, cool, don’t care. How much is it? And Alex is like, we’re like, I don’t know. And so he says, $6,000 I think I was like, done. And we were like, $6,000, to teach you how to do something, what the heck. So coffee. I know, all eight other locations.

And everybody else said the same thing. They’re like, I have to do this. You have to help me? How much would it cost to just teach me. And that day, we made $60,000. And we needed like, 120,000 to cover the refunds. And so we were like, Oh, my gosh, it worked. And, you know, I remember Alex looked at me, and he was like, I think we’re still in the gym business. And I was like, yeah, he’s we’re like, I think we’ve just been doing it wrong this whole time, you know, like we’ve been flying on ourselves. Whereas I think that we just need to teach.

And so we, we decided to flip the model teach people. And honestly, because of the timing in the market, because of the skill set that both Alex and I have and how complimentary it is. And because of an arbitrage there was on Facebook, for gyms, it just took off. And so like the first year, the first six months of the business, we did 7 million. The second year, I think we did 26, or 27,000,003rd. Year was like 36. And it just went up and it was insane. And we built a supplement company off the back of that company that we sold through those locations, we built a software company that service gyms, and then we branched it out and sold it.

And now it services all small businesses. And then we actually end up selling gym launch and prestige labs, the brick and mortar, you know, the licensing model, and then the supplement company last year, in December 29. And it was a crazy ride. And that was pretty much, you know, that’s kind of my background. And now what we’ve done since we sold those companies, and the majority of them is we decided no, hey, we’re pretty good at getting companies to a significant size. And we’ve done it multiple times. Like, let’s try it with other companies.

And so about two years ago, we took on two companies, ourselves, just me and Alex and wanted to see if we could get them to eight figures and beyond. And we did. And so we said, hey, we have a framework, we know what works, let’s take that let’s turn it into something and let’s do it for as many people as we can. And that’s what we do now. acquisition.com.

Mostafa Hosseini  14:01

So what do you do these days? And who do you serve?

Leila Hormozi  14:04

Really businesses, you know, it was more in the three to 10 range. Now we’re kind of taking businesses around 10. And then basically, the idea is to triple them in the next three to five years. And then after that as well. So we kind of have two different growth thesis as we put into place at the businesses, which is like, how do we get it from 10 million to 40 million 50 million?

And then how once it gets to say 50 million? Because that’s usually a breaking point, do we get to 100 to 200 million, because they’re different kinds of growth after current those points. And so we take on those businesses, we take a minority stake in them.

And then we have a team of I wouldn’t say subject matter experts, you know, finance, marketing, sales, customer success that we basically do about one to two months worth of deep dive on the business to come up with our thesis around how to grow it and then how to essentially grow each department so that the business grows, and then we work with that company over the next you know Three years, we put a plan in place for the first year. And then each year it’s revisited so that we have our yearly plan of like, what acquisition.com is going to do, and then what that company is going to do to reach that target.

Mostafa Hosseini  15:11

Interesting. So going back to where you were experiencing those setbacks, and, you know, the refunds and this and that, did you guys ever think that this is not going to work, I should give up and do something else.

Leila Hormozi  15:24

I think it’s like, you know, like, I knew, I’m like, maybe this version won’t work. But I will continue to work, I will continue to figure out what would work. And so I just knew, I was like, if I don’t give up, I’ll figure out something. Maybe it’s not this thing, but I’m not even gonna find out what the thing this thing works out unless I keep trying. So I just had that mentality from day one. I was like, I know, if I keep trying, then I will figure out what works.

And I think a lot of that I took from, like, I had my own personal journey, losing 85 pounds, and sometimes like you have a month, you don’t lose any weight. And I was like, am I gonna stop, I’m just going to try something else and see if something else is gonna work. So I was like, the same has to work for business.

Mostafa Hosseini  15:59

Love it. So how has your mindset changed since since like you were doing five or six figures all the way to seven, eight figures in the rest of it?

Leila Hormozi  16:16

I think that a couple of things, which is understanding, I think that very much. So in the beginning, what’s required is a mindset of hard work and volume. Like you need to work harder, you need to do more. And that is very true in the beginning. But there comes a point in business where hard work of just you isn’t going to cut it, you have to figure out the same hard work out of other people. And that’s where you really get leverage on yourself.

And so you almost have to train yourself out of you working so hard to train yourself into how do I get so much out of my people. And that’s really hard for a lot of people because they feel like if I’m not doing the project, if I’m not taking the sales call, if I’m not, you know, dialing in the marketing, then I’m not working hard enough. But in reality, the coach doesn’t get in the court and play the game when a player is hurt, right, the coaches on the sidelines telling the players what to do somebody’s hurt. And that’s ultimately where you need to end up if you’re running a business.

And so I think it’s much more understanding that your focus has to change. And the traits that you need to focus on like honing in for yourself in the beginning are going to be much lower leverage, and then they have to grow in terms of how you leverage yourself so that you can get the most out of your team rather than just you.

Mostafa Hosseini  17:27

So I guess you would work hard and probably how long would you give yourself like to work really hard to build up to a point where you could hire other people and your leverage your time and the rest of it? What would that period look like for you? If you were starting from scratch again,

Leila Hormozi  17:41

I mean, I can tell you, because we started acquisition.com Last January, and I’m still like in the thick of it, you know, I have the resources, I have the money. But it’s not right for the business, like the founder, who is the CEO leaving in the first two years is, the bigger business you want to build, the longer you will be in the foundation, and the bigger the foundation you have to build. So if somebody wants out of their business quickly, good luck building a billion dollar business, because it’s just not going to happen. I’ve seen so time and time again.

And so if you really want to build like, I want to build a billion dollar business, I’m probably going to spend more time than I did in my last business building the foundation, because I want something bigger. Therefore, it makes the most sense that the founder and CEO sticks around long enough and is the primary operators to do that. Because nobody knows it better than I do. Does that not mean that I can’t hire people with more experience who have built bigger companies around me?

 Not at all I can absolutely I want to learn from everybody on my team. That’s my goal. But that doesn’t mean that the person who started it should exit out quickly. So I think that’s like a key piece that I think a lot of people kind of miss.

Mostafa Hosseini  18:45

So, speaking of working hard, what do your days look like right now? What do you say your daily routine kind of look like?

Leila Hormozi  18:54

Yeah, you know, it changes a lot because I think what I do now is very different. Like in our last company, I had no forward facing like I would never be on a podcast like people asked me I was like, No way I don’t do that. I didn’t make social media I didn’t do content under any of that. And this time around I was like I want to do that because I I regret not documenting that stuff.

You know, a 23 year old leading a team of 120 people I only have those stories I don’t have any video of it, you know and I I’m sure I’m much better now than I was then but it would have been cool to look back and see how far I’ve come so and to show so many other people what’s possible at a young age with little experience. So now what my days look like are you know like most of the time, you know getting up working for three to four hours then I try to take a break go work out come back eat lunch, then have my meetings I tried to like the for five to six hours after lunch and then get done. I go on a walk with Alex we debrief about our days just kind of like checking in with each other.

And then all times we just like go grab Whole Foods or like Persian for dinner and then come back and like honestly like read stuff already watched YouTube like, try and learn. I think there’s been it’s really boring.

Mostafa Hosseini  20:06

I love your personal group true. Well, you’re like my first Persian guest and I’m, I’m a huge fan of my kebab. That’s like something I cannot give up. Last couple of years, we became we became really good masters and making our own kebab at home. Because at some point for like, a good year and a half the restaurants were closed. So we’re like, we need to come up with our own skewers. Absolutely. So you said you get up, you work for three or four hours, then you take a break. And then you work again and then lunch.

Leila Hormozi  20:42

That yeah, and I take a break, eat lunch, then do my all my meetings. So my meetings are usually more like 11 to five. So

Mostafa Hosseini  20:48

I’ve heard you and Alex talk about like getting up and starting working. Great. Like how does that worth? Like, give me about the first hour of when you wake up? Do you like get up and start typing and doing doing shit? Or like, what is it like,

Leila Hormozi  21:03

right? What do I actually do? Okay, I roll out of bed. I go and I turn on lights on. I hit on on the coffeemaker. I put eyedrops in. And then when the coffee is done, I have like a few sips. And then I opened my laptop.

Mostafa Hosseini  21:18

And you start working? Yeah, like no meditation? No, I don’t know, visualizing this. And that and affirmations of this and that.

Leila Hormozi  21:28

You just start work. Yeah, no, I don’t think so.

Mostafa Hosseini  21:31

So that way. So what do you spend your time on on? How do you decide what to spend your time on?

Leila Hormozi  21:40

My time has been decided upon where it’s going to be spent months ahead of time. So you know, we plan out for our business, what is the three year goal, write that down to one year, break that down to a quarter break that down to each month. And then I break that down to what do I need to get done in each week of the month.

And I just have like a little backlog that shows what my priorities are. And then I prioritize by that, obviously, there’s stuff that comes up that I have to do as well. But that time in the morning is when I get those like non negotiable things done to move the business forward. Because, you know, but by the time everybody else is up, and by the time it’s the end of the day, and I’m tired, that’s probably not my best work. And so I want to make sure I’m always driving the business forward and the beginning of the day.

Mostafa Hosseini  22:19

Love and what time do you guys usually wake up? Or do you wake up?

Leila Hormozi  22:23

Don’t send alarm. So like, anywhere between 430 and 530? Love it? Love it?

Mostafa Hosseini  22:33

Hmm. And then so did you create like a daily to do list? Or is it done? Like in the beginning of the week? Is it? Like how do you go about that.

Leila Hormozi  22:44

Um, typically what I do is on Sunday, I go back through everything from last week, I look at all the meetings from last week, all the discussion items, all the one on ones I had everything that everybody else was supposed to do, and that I was supposed to do. And then I want to see where we’re at from there. And so then I can assign out like, what does everybody else need to be working on this week? So when I meet with them, it’s like, Hey, where’s this?

Where’s that? What do we have this. And then for myself? Do I know what I’m working on and I can go and like pre block time each day to work on things. Now I’m not taking this from like this project is what I’m working on for three hours this morning. I typically have like two to three things that I’m working on. As long as I get them all done in the week, I don’t really care which one I’ll work on what day it just matters that gets done. I’m not that rigid with what I’m doing.

Because I think sometimes I’m in the flow of something, I’m not going to interrupt that because I will have to work on this project now for an hour today. That’s not hard work. As long as I get it all done. I don’t really care how I do it, you know?

Mostafa Hosseini  23:37

Okay, cool. So it’s all preset, every Sunday, you set, review what’s done set, set the to do list for the week come in. And then

Leila Hormozi  23:46

some people don’t do that at all. Some people don’t even have a to do list and it works for them. So I think you know what works for me, I say if like someone’s listening, just like try it and see if you like and it works for you. But it’s not for everybody.

You know, some people are more like fly by the seat of your pants. Like they know what they need to get done. And like maybe they work last minute like, Hey, I don’t judge longing to get the job done.

Mostafa Hosseini  24:06

Lola, what advice would you have for business owners that are running five or 6/5, six figure businesses that are trying to go say, seven or eight figure businesses

Leila Hormozi  24:19

get consistent first. So typically, when someone’s in that frame, they’re what I call like a producer, which is you’re producing, but you’re not consistent, you’re not yet a master. And once you unlock mastery when you’re able to get consistent, and you’re able to get consistent revenue each month, you know, because like a lot of those companies because I look at all their financials on a very regular basis of when people apply to work with us. It’s like this.

They don’t have consistency. And so the what you know is like when I’m looking at a company that I know is going to be one that maybe in the future we want to invest in, what I see is that they become consistent. They have consistent revenue month after month. And so that’s a reflection of the stability in the business which is usually a reflection of the stability in the founder and So a lot of times what it is, is that the founders can’t stay focused, they can’t stay focused on the right things for their business. And they’re jumping around thinking like, well, maybe I should be doing this, maybe I should be this, like, these five people told me five different things, let me try these different things.

If you can stay focused, and just like trust the course of at least one path, then you can see it out and see if it even works. And so I think a lot of times, it’s just remaining consistent for long enough to see the fruits of your labor. Because if you’re constantly changing priorities, what you’re focused on what your product is, the hiring and firing, then you don’t ever get to actually build anything that stable. And so oftentimes, what they need to do is just continue to practice, get the reps in, really understand, like, build a stable foundation for the business, and then it will naturally grow. Yeah,

Mostafa Hosseini  25:40

what do you see as the as the cause or the source of this revenue or sales inconsistency? Like what do they usually have to fix? To build that consistency?

Leila Hormozi  25:53

People are often very impulsive. And so what I mean by that is, and I’m not immune to it, like I was much more this way when I was younger, and first getting into business, which is a lot of people tie up so much self worth in their businesses. And then when something doesn’t work for one day, they have one bad sales day or two bad oh my god a week the business is for sure dying.

That’s what they think they think bad Sales Day, bad marketing day, bad week, I have to change everything. And so what happens is this cycle of impulsive action, and then you overcompensate for that action, which means you impulsively do something, you don’t have any foresight, you’re not thinking, well, maybe this isn’t the plan, okay? There’s always ups and downs, like that’s logical, you just go all or nothing thinking.

And then you overcompensate, which might mean, if you have a bad sales week, you go in, you’re like, we need to change the whole script, we need to read, we redo our compensation structure, for sure. It’s messed up. That’s why they’re not doing this. Rather than maybe it was Memorial Day weekend, and people just didn’t feel like buying. Maybe it’s seasonal, maybe we don’t know, because the business is too small. And so that’s often what happens is they’re just so in such a fear mode, that they change things so quickly. And then they never get to see that the problem is not a problem. The problem is that,

Mostafa Hosseini  27:07

guys, I plan to planting a seed, and then like next week, we like, oh, I don’t see a flower that’s done. It’s not gonna work. Like you have to give it some time.

Leila Hormozi  27:16

It’s often when I call a mentor mindset is like your whiplash, entrepreneurial whiplash, just like you’re constantly like, going like this back and forth. Like, just, and your whole team feels that too, and so does the customer. So then people feel like, Oh, it’s just instinct. It’s not stable. Yeah,

Mostafa Hosseini  27:30

I similar to that analogy, I, what I heard was like, being like a monkey jumping from one branch to the other, instead of just, you know, sticking to one thing and making that say, LinkedIn lead generation, get that to work, and then move on to the next thing. 100% I sent five messages, and I didn’t get six figures out of that. Working. No, it

Leila Hormozi  27:55

works, you just haven’t figured it out yet.

Mostafa Hosseini  27:57

Right? Do you think there’s what do you think are like the top maybe one or two skills that an entrepreneur needs to like figure out or master that would help them maybe 50 or 60% of the way? Like these are maybe one or two important skills that you really have to have this figured out?

Leila Hormozi  28:20

I think one is more of a character trait than a skill and the other one’s a skill, which is, I think that skill wise sales, like you are always selling in a business marketing is a form of sales product is going to need to understand sales. When you’re hiring and recruiting and sales. There’s always sales and business. So I think understanding sales is like, I think it’s one of the most important skills, and founders that don’t understand it typically have a harder time than those who do I can say that confidently.

The second skill is I would call it emotional agility, which is your reaction to your emotions. So many entrepreneurs I meet are so talented, but their skill sets are high, maybe they’re really good at sales really good at marketing really good at fulfillment. But their emotions, like their character traits, like their emotional agility is low. Therefore they make stupid decisions. They take really irrational action, and then they sabotage themselves.

 We all know that person who’s like so brilliant, but they’re just always ruining something for themselves, because they just take this irrational action. And so I think having emotional agility and understanding that most of the time, the threats that we see in business, the problems we see in business are made up in our heads.

 But if we can understand that and be like, agile and how we respond to our emotions, then I think we’re going to be way better off in business because one of the number one things we look for in partners is like low emotional reactivity. People who can understand their emotions, and it doesn’t mean you eliminate the emotions, it’s that when they come up, you can react to them in a way that’s productive rather than a way it’s gonna set you back.

Mostafa Hosseini  29:53

Love it. Work and feed people find out more about you and read choke? Yeah.

Leila Hormozi  30:02

Really, I think the best place to go is YouTube or Instagram. So you know YouTube, you can just type in Leila her mosey, Instagram. It’s just at Leila and Hormoz Z. And then if you go to acquisition.com, we have free courses on the site where if you’re an entrepreneur that’s probably doing you know, less than 3 million a year with that course is probably a great one to make sure that you’re on the right track. Love it. So

Mostafa Hosseini  30:27

YouTube, just search for Leila. Hermoza, Instagram, same. And you could go to acquisition.com. Another amazing resource that Leila and her husband, Alex have is the book $200 million offer, which is absolutely amazing.

I’ve read it. And I’ve watched the videos on their website. It really works. Gank tap into that. Like, can I ask you some real quick personal questions before we go? Yeah, sure. What’s a new thing you have tried recently?

Leila Hormozi  30:55

Big or small? That I’ve tried

Mostafa Hosseini  30:59

some new as as little as a cup of coffee as big as going to Mars? Maybe?

Leila Hormozi  31:04

I don’t know. I’m like really trying to think

Mostafa Hosseini  31:09

something food drink?

Leila Hormozi  31:13

kind of tough. I mean, I’ve started like saying yes to speaking recently. So I guess that’s new

Mostafa Hosseini  31:21

word of it. Give me two of your cup favorite books?

Leila Hormozi  31:28

I really like the laws of human nature. I think that books really, Robert Greene. Robert Greene. Yeah. And then that’s a tough one.

Mostafa Hosseini  31:41

But that has a big impact on business or personal life or maybe mindset. I

Leila Hormozi  31:45

think, I think Ben Horowitz, a hard thing about hard things. It’s a really good book, to read to just understand entrepreneurship in general. And like, what’s normal,

Mostafa Hosseini  31:53

amazing books. What’s one advice that made a big impact in business for life?

Leila Hormozi  32:03

When it gets easy is when you want to step on the gas. It gets easy. Step on the gas.

Mostafa Hosseini  32:09

Step on the gas. Yeah, I feel like there’s a quick story there.

Leila Hormozi  32:12

Yeah, I mean, I think you just need a lawn business. When something feels easy. I think people relax. And then they just try to accumulate the fruits of their labor. But that’s when you want to maximize and you want to hit the gas and capitalize on the opportunity.

Mostafa Hosseini  32:24

Love it. If you had a Facebook or a Google ad, where everyone around the world with access to internet could see that bat, what would your message be for the people of Earth?

Leila Hormozi  32:40

It’s possible for anyone think most the time people just have reasons why they can’t do something. But at the end of the day, it’s irrelevant.

Mostafa Hosseini  32:50

of it. Laila, this has been an absolutely amazing conversation. Thank you for sharing your normal knowledge and wisdom and time with us. And gang. If you have any questions or are comments, for Leila, or for me, feel free to put them in a comment below.

Make sure to like and subscribe to the show. And have yourself a great weekend. And we look forward to seeing you next week. And you’ve been listening and watching daily confidence for entrepreneurs. With my guests, Laila horror Murthy,

Leila Hormozi  33:22

thank you so much.

Mostafa Hosseini  33:23

Thank you. Bye, gang.