The Biggest Myth About Growing Companies
Summary
- I've learned that growing a company isn't the true goal; rather, it's about developing individuals who can grow the company for you.
- Realizing the importance of finding valuable people to operate and expand your business is critical, and it's something that I wish I had grasped sooner.
- If you're not at the stage where others are running the business for you, you don't truly own the business; instead, the business owns you.
Video
How To Take Action
I would suggest focusing on finding and developing the right people for your team first. Look for individuals who share your vision and can help grow your business. Don’t just do all the work yourself; that wastes time and energy you could use on improving. Investing in people is low-cost and can offer high returns.
A good way of doing this is to take a step back and evaluate the tasks you do daily. Ask yourself, which of these could someone else do? Start by delegating small tasks and increase as you become more comfortable. This will free up your time to focus on the big picture.
Remember, the goal isn't just to work in the business but on the business. So, teach your team members how to solve problems and make decisions. This way, they can manage parts of the business without you needing to oversee every detail. This is how you stop the business from owning you.
Additionally, make learning and personal development a core value in your company culture. Encourage your team to improve their skills and knowledge. This doesn't have to be expensive – it can be as simple as sharing articles, videos, or books that have helped you.
Lastly, always give feedback and recognition. This helps people grow faster and creates a sense of ownership over their work, which is exactly what you want. By focusing on these strategies, you'll build a team that can grow your company for you. This is how you truly become an owner, not just an operator.
Quotes by Alex Hormozi
"You don't actually grow companies; you build people who build companies"
– Alex Hormozi
"That is a key piece that took me way too long to understand"
– Alex Hormozi
"Like the reason that gym launch became a very valuable thing was because I found valuable people"
– Alex Hormozi
"Then run and grow the company on my behalf"
– Alex Hormozi
"Until you get to that point, you don't own an enterprise, the enterprise owns you"
– Alex Hormozi
Full Transcript
you don't actually grow companies you build people who build companies and that is a key piece that took me way too long to understand like the reason that gym launch became a very valuable thing was because I found valuable people to then run and grow the company on my behalf and until you get to that point you don't own Enterprise the Enterprise owns you
