Matt Gray is a well known Youtuber and content creator. He is also the founder of Herb - the largest and most engaged cannabis community in the world of over 14 million people.
Previously he founded Bitmaker, which trained full-stack software engineers and got them jobs at companies like Shopify, Facebook, and IBM. Bitmaker was acquired by General Assembly.
Guest Author: Matt Gray
Leila Hormozi is the CEO and Managing Partner of Acquisition. She is widely recognized as a prominent figure in the business world and leads a portfolio of 16 successful companies.
Here are 10 powerful Entrepreneur Mindset lessons I learned after interviewing her:
1. Key traits to look for when hiring. Leila looks for someone who has competitive greatness. They are here for the challenge, not the money—also, someone who is receptive to feedback and can work hard on the right things.
2. Scaling a business like a boss. Leila explained different methods for improving the company, such as adding more marketing channels, increasing product value, offering upsells, and investing in technology.
3. Embodying the true spirit of teamwork. Leila fosters a culture where support and problem-solving lead the charge by engaging in dialogues about challenges and missteps.
4. Reflective leadership for strategic evolution. Acquisition’s primary goal is to become an independent entity, separate from other projects. To achieve this, Alex will focus on his other projects while Leila dedicates more time to overseeing Acquisition and the rest of the team.
5. Building a business is hard. Leila confronts the challenges of entrepreneurship, advocating for honesty and realism in the portrayal of business building. She emphasizes the ethical obligation to provide a truthful account, ensuring aspiring entrepreneurs confront their journeys with open eyes.
6. Embrace the challenges. Leila shares her strategy for coping with stress in business: acceptance. This acceptance accelerates overcoming obstacles, allowing for a smoother journey through entrepreneurship’s inevitable ups and downs.
7. Taking it to the next level. In her quest for next-level leadership, Leila prioritizes directness and clarity, recognizing their impact on company culture, audience engagement, and personal development.
8. Navigating work-life balance. Leila and I explore the delicate balance between professional pursuits and personal relationships wildly when business and romance intertwine. To learn more about a balanced relationship, Leila recommends the book Mating in Captivity by Esther Perel.
9. Going from $100K to $1M. Leila identifies data as the cornerstone of scaling from $100K to $1M. She emphasizes the need for enhanced data analysis, reporting, and operational cadence alongside a cultural shift that aligns with the company’s growth phase, offering a blueprint for expansion rooted in analytics.
10. Rating of a successful CEO. Leila emphasizes the importance of CEOs rating themselves. In her experience, the best companies had CEOs with the worst ratings. The most successful CEOs hold high standards for themselves.
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Want to improve your mindset?
Watch my new YouTube video: How Leila Hormozi Built a $200M/Year Empire (Entrepreneur Mindset)
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