This Is a Terrible Reason to Build a Business
Summary
- Don't start a business just with the aim to sell it; those who do often fail.
- Focus on creating a business based on what people need, not just for the potential to sell it later.
- Building something valuable and needed increases your chances of success.
- Always question your motives, asking why you want a business that's sellable.
Video
How To Take Action
A good way of doing things is to remember why you're starting a business in the first place. You should build it to fill a need, not just to make money by selling it later. That's important. If you're looking to start a business or improve one, first think about what people really need and how your business can help them.
Here's what you can do:
- Ask yourself what you're good at and what problems you can solve. Write it down. This will guide you to understand what kind of business can be both useful and something you care about.
- Talk to people. Find out what they need and what's missing in the market. This can give you ideas for services or products that are in demand.
- Focus on quality. Make something good that people want to keep using. If your business is great, it might become valuable enough that others want to buy it someday.
- Always stay true to your why. When decisions get tough, remembering why you started can keep you going.
You might be wondering, "Why do I want a business that's sellable?" That's a tough question. But if your answer is because it's something that helps people and you love doing it, you're on the right path. Remember, if you build a business that's genuinely helpful, success may follow naturally. Keep these ideas in your heart and use them to guide your actions every day.
Quotes by Leila Hormozi
"you can't build a business just to sell it"
– Leila Hormozi
"the businesses that sell are usually the ones that people are like this is what people need I will build it"
– Leila Hormozi
"not like I'm going to sell it cuz most of the time when someone builds something to sell"
– Leila Hormozi
"trust me people have come to us at acquisition and they're like we just want this we want to build it to sell it they're always ones who fail"
– Leila Hormozi
"why do you want a sellable business I would ask that question first"
– Leila Hormozi
Full Transcript
that's a bad reason to build a business dude you can't build a business just to sell it the businesses that sell are usually the ones that people are like this is what people need I will build it not like I'm going to sell it cuz most of the time when someone builds something to sell like trust me people have come to us at acquisition and they're like we just want this we want to build it to sell it they're always ones who fail cuz like there's no reason to keep going it's like why do you want a sellable business I would ask that question first do you know why
