Why Working Harder Won’t Make You Rich: Marie Forleo’s Brutally Honest Business Advice

TL;DR

Working harder alone will not grow a business when the founder is overwhelmed and lacks the right team. After about 10 years of doing nearly everything herself, Marie Forleo was drowning despite having an employee and several freelancers; within six months of setting a goal to find the right partner, she met Tana, her future VP of Operations. Read on for their lessons on consistency, resourcefulness, hiring, and long-term partnership.

Transcript

someone didn't do the right thing and it created over a $250,000 loss it can take the whole ship down it's the most important trait ever and that number one trait is Marie foro is a leader one of the top life coaches on the planet awardwinning entrepreneur she's an extraordinary woman Marie Marie forio this is really exciting one of the things that... Read More

Key Insights

• 👻 Consistency is essential for business success, as it builds trust, establishes a strong reputation, and allows for steady progress.
• 😤 Finding the right team members, with complementary skills and values, contributes to the growth and success of a business.
• 😤 Resourcefulness is a crucial trait to look for in potential team members, as it enables problem-solving and taking initiative.

Questions & Answers

Q: Why won’t working harder alone make you rich or grow your business?

Marie Forleo says that after about 10 years in business, doing nearly everything herself left her burned out and unable to expand beyond what she was already doing. Her experience suggests that growth also requires consistency and team members whose skills complement the founder’s strengths.

Q: Why is consistency important for business success?

Consistency creates steady progress and helps a business build trust and a strong reputation. Marie and Tana’s partnership illustrates this through more than 12 years of working together after starting in 2011.

Q: How can finding the right team help a business grow?

The right team members contribute complementary skills and values that help the founder realize ideas and expand the business. Marie wanted someone who could help uncover the business’s potential and create change in more people’s lives.

Q: What is the most important trait to seek when hiring team members?

Resourcefulness is identified as the crucial trait. It allows a team member to solve problems, take initiative, and find solutions in a fast-paced business environment.

Q: How did Marie Forleo and Tana begin working together?

A friend and former mentor told Marie that Tana was transitioning out of a role and suggested they connect. After reading Tana’s email about her career and interests, Marie invited her to New York to consult for a day or two and see what developed.

Q: What problems was Marie Forleo facing before meeting Tana?

Marie had one employee and several freelancers or contractors, but she was still doing nearly everything herself. She felt overwhelmed, questioned whether she was a good entrepreneur, and did not know how to expand the business beyond its existing level.

Q: How do Marie Forleo and Tana plan for the business’s next year?

They spend about a week together imagining and planning what the next year could become. They have followed this practice since the first day they met, although the process has become more sophisticated over time.

Q: Why do hiring decisions carry serious business risk?

The discussion opens with an example in which someone failing to do the right thing created a loss of more than $250,000. Marie warns that a mistake of that scale can threaten the entire operation, underscoring the importance of choosing team members carefully.

Summary & Key Takeaways

• Marie Forleo and her VP of Operations, Tana, discuss the importance of consistency and building the right team in their business.

• They reflect on their journey together and how their partnership has helped Marie overcome insecurities and expand her business.

• They emphasize the need for resourcefulness and attention to detail when hiring new team members.

• Both Marie and Tana highlight the value of having fun and being true to oneself in the business world.