We Made A BIG Decision… | Ep 908
In this episode of The Game, Alex and Leila Hormozi discuss their decision to partner with Sharan Srivatsa at Acquisition.com. The conversation explores Srivatsa's background, which includes selling a $20M+ startup, playing professional tennis, working at Goldman Sachs, and scaling Telus from $300M to $3.4B in revenue before founding Sorello Capital.
The discussion delves into how the partnership developed from an advisory relationship into a formal business arrangement, marking the beginning of Acquisition.com 3.0. Alex and Leila share their perspective on building effective teams, explaining their "barrel approach" to finding self-sufficient team members, and outline how Srivatsa's experience in marketing, operations, and investing helps accelerate the company's decision-making processes and opens new growth opportunities.
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Sharan's Background and Expertise
Sharan Srivatsa brings a diverse background to his role as an entrepreneur and investor. After selling a $20M+ startup early in his career, he became a professional tennis player before pursuing his MBA and working at Goldman Sachs. His most notable achievement was scaling Telus from $300M to $3.4B in revenue over five years. He later founded Sorello Capital, a private equity and real estate firm, after selling his previous company to Douglas Hellman.
How Alex, Leila, and Sharan Became Partners
Alex and Leila Hormozi's partnership with Sharan at Acquisition.com evolved naturally from years of collaboration. According to Leila, they initially sought Sharan's advice on business and investment decisions, impressed by his expertise from Goldman Sachs and his billion-dollar company experience. The partnership negotiation was smooth, with Alex convincing Sharan to forgo retirement plans during a dinner meeting. Leila prepared an extensive onboarding plan to ensure a seamless transition.
Benefits of a High-Level Partner Like Sharan
Sharan's impact at Acquisition.com was immediate, with his swift grasp of business operations and attention to detail. Alex and Leila note that his pattern recognition abilities and multi-faceted knowledge in marketing, brand, investing, and operations help accelerate decision-making from weeks to minutes. Additionally, Sharan's influential network and personal brand open new growth opportunities for the company.
Importance of a Strong Team and Capable People
Alex and Leila emphasize their "barrel approach" to team building, focusing on self-sufficient individuals who can operate independently without creating bottlenecks. They view Sharan's partnership as strengthening their leadership team's synergy and enabling the pursuit of more ambitious goals. According to Alex, having capable team members like Sharan allows the organization to continually push boundaries.
Future Plans for Acquisition.com 3.0
With Sharan's partnership marking the launch of Acquisition.com 3.0, Alex and Leila envision a new phase focused on sharing knowledge indirectly while helping stakeholders directly. While specific details aren't provided, they emphasize maintaining high standards of execution and leveraging Sharan's experience to achieve ambitious objectives.
1-Page Summary
Additional Materials
Clarifications
- Sorello Capital is a private equity and real estate firm founded by Sharan Srivatsa after selling his previous company. It focuses on investing in private companies and real estate projects to generate returns for its investors. The firm plays a crucial role in Sharan's entrepreneurial journey and investment activities, leveraging his expertise and experience in scaling businesses. Sorello Capital's investments and strategic decisions contribute to Sharan's overall portfolio and business endeavors.
- The "barrel approach" to team building involves assembling a team of self-sufficient individuals who can work independently without causing delays. This strategy focuses on creating a cohesive and efficient team that can function smoothly without relying heavily on others. The term "barrel" signifies a group of individuals working together harmoniously, much like the staves of a barrel supporting each other to create a strong structure. This approach emphasizes the importance of each team member's ability to contribute effectively to the overall success of the team.
- Acquisition.com 3.0 represents the next phase of development for the company, focusing on indirect knowledge sharing and direct stakeholder support. The specific details of this new phase are not provided in the text, but it emphasizes maintaining high standards of execution and leveraging Sharan's experience to achieve ambitious objectives. The partnership with Sharan marks a significant milestone for the company, signaling a shift towards more ambitious goals and growth opportunities. Alex and Leila envision this new phase as a way to enhance the company's impact and reach while continuing to prioritize excellence in their operations.
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Sharan's Background and Expertise
Sharan Srivatsa's journey is marked by remarkable transitions— from the tech industry to the tennis courts, academic halls, and the corridors of high finance. He has established himself as a successful entrepreneur and an astute investor with a keen understanding of scaling businesses and harnessing market opportunities.
Sharan Srivatsa: Successful Entrepreneur and Investor
Sharan's trajectory in the business landscape is highlighted by his ability to combine analytical acumen with strategic vision.
Sharan: Sold $20m+ Startup, Pro Tennis Player, Mba, Goldman Sachs
Sharan shared that at the outset of his career, after receiving motivation from a judge at a programming contest at Berkeley, he embarked on a challenging entrepreneurial endeavor. He raised over $20 million and subsequently sold a tech startup, which marked a significant milestone in his career path. Following this achievement, he ventured into the sports arena, spending a few years playing professional tennis, showcasing his versatility and drive. Shifting gears, he returned to academia to pursue his MBA, a period after which he honed his skills in the financial sector at Goldman Sachs, where he navigated the complex investment landscape.
Sharan Scaled Telus From $300M to $3.4b in Revenue Over 5 Years, Reaching a Billion-Dollar Valuation
In one of his most notable achievements, Sharan Srivatsa played a critical role in catapulting Telus's revenue from $300 million to a staggering $3.4 billion over the span of five years. His strategic interventions and leaders ...
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Sharan's Background and Expertise
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Clarifications
- Sharan Srivatsa transitioned from the tech industry to entrepreneurship, where he successfully sold a tech startup for over $20 million. He then pursued a career in professional tennis before obtaining an MBA and working at Goldman Sachs. Sharan later played a pivotal role in scaling Telus's revenue significantly and founded Sorello Capital, focusing on private equity and real estate investments.
- Sorello Capital is a private equity and real estate firm founded by Sharan Srivatsa. The firm engages in venture side investments and operates in the real estate sector. Sharan established Sorello Ca ...
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How Alex, Leila, and Sharan Became Partners
Alex and Leila Hormozi successfully incorporate Sharan Srivatsa as a partner into their enterprise, Acquisition.com, showcasing a transition that blends admiration, strategic alignment, and the anticipation of accelerated growth.
Alex and Leila Partner With Sharan at Acquisition.com
Alex and Leila Hormozi's first-ever partnership at the holding company level with Sharan Srivatsa has been set into motion, marking a significant evolution in their business strategy.
Impressed by Sharan's Expertise, They Sought His Advice on Business and Investment Decisions
Leila Hormozi discusses the transition from investing to business with Sharan as Acquisition.com started to grow, indicating their increased collaboration. Alex Hormozi was consulting Sharan on important business decisions, such as selling the company, while Sharan Srivatsa admired Alex's creative capacity in building brands from scratch and Leila's ability to realize those creative visions. Their synergy laid the groundwork for a deeper alliance.
Sharan's impressive resume, including an experience with the sale of a company for $3.4 billion and his tenure at Goldman Sachs, brought a depth of knowledge that Alex and Leila sought to leverage. Leila found Sharan's input so invaluable that during their first interaction, she asked if she could compensate him for his assistance.
Alex and Leila Recognized Sharan's Invaluable Skills and Judgment and Made Him a Partner to Accelerate Growth
Both Alex and Leila appreciated Sharan's judgment and expertise, which encouraged them to consider how they could integrate him into their operation for years before making the move. Alex, acknowledging Sharan as the original confidant for monetary affairs, sought advice from him as if they were already partners. Such was the level of trust and recognition of Sharan's abilities and diverse expertise that stretched from content creation to private equity and public markets.
Negotiation Smooth: Alex and Leila Onboard Sharan and Align on Terms
The incorporation of Sharan into the partnership turned out to be a smooth process. Alex and Leila engaged in a natural and simple negotiation that ended with them asking their counsel to draft an agreement based on Sharan’s emailed terms, indicative of their prior ali ...
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How Alex, Leila, and Sharan Became Partners
Additional Materials
Actionables
- You can evaluate potential partnerships by creating a 'Partnership Vision Board' that outlines the qualities, values, and strategic goals you seek in a partner. Start by listing the attributes you admire in others, the skills that complement your own, and the strategic objectives you want to achieve. Then, use this board as a benchmark when considering new partnerships, ensuring alignment before moving forward.
- Develop a 'Collaboration Index' to gauge the effectiveness of your professional relationships. This can be a simple spreadsheet where you track interactions with colleagues or potential partners, noting how often their advice influences your decisions and how their skills could benefit your projects. Regularly review this index to identify individuals whose collaboration could be more formally recognized or integrated into your ventures.
- Create a 'Mutual ...
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Benefits of a High-Level Partner Like Sharan
The partnership with Sharan at Acquisition.com is viewed as a strategic boon due to his vast expertise in scaling companies to multi-billion-dollar valuations.
Sharan's Expertise In Building Multi-Billion Dollar Companies and Decision-Making Adds Strategic Value To Acquisition.com
Sharan’s rich background in business and decision-making is considered valuable to Acquisition.com's growth.
Sharan's Swift Grasp of Business Priorities Boosts Impact
Sharan’s capability to onboard himself within days, his immediate grasp of business operations, and his attention to detail, including going through every line item in the P&L, amplify his impact at Acquisition.com. He emphasizes the importance of focusing on rapport and recognizing patterns when new to a company, which can lead to a swift and significant contribution.
Seasoned Perspective and Pattern Recognition Help Alex, Leila, and the Team Make Quick, Informed Decisions While Avoiding Common Pitfalls
Sharan's expertise offers Acquisition.com a tactical edge. Alex and Leila Hormozi appreciate Sharan's multi-faceted knowledge in marketing, brand, investing, and operations, which aids their decision-making process. Sharan’s ability for pattern recognition allows for validation or valuable insights, accelerating decision-making. Decisions that could take weeks are reduced to just minutes with Sharan's involvement, thereby avoiding common business pitfalls.
Sh ...
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Benefits of a High-Level Partner Like Sharan
Additional Materials
Clarifications
- Sharan holds a high-level strategic position at Acquisition.com, leveraging his expertise in scaling companies and decision-making to drive growth and enhance decision-making processes. His swift grasp of business priorities, seasoned perspective, and influential network contribute significantly to the company's strategic advantage and potential for growth.
- Sharan's network and personal brand encompass a wide range of connections and a strong reputation within the business and entrepreneurial community. His network includes influential individuals, industry leaders, and potential collaborators who can provide opportunities for growth and partnerships. Sharan's personal brand is built on his past successes, speaking engagements, and public presence, which enhance his credibility and attract attention to the ventures he is associated with. His network and brand serve as valuable assets that can open doors to new prospects, resources, and strategic alliances for companies he is involved with.
- Sharan's expertise in scaling companies to multi-billion-dollar valuations stems from his dee ...
Counterarguments
- While Sharan's expertise is valuable, it's important to ensure that the team at Acquisition.com doesn't become overly reliant on a single individual's perspective for decision-making.
- A swift grasp of business operations is beneficial, but it may also lead to oversights if not paired with a thorough understanding of the unique aspects of the company's culture and market position.
- Quick decision-making can be advantageous, but it also carries the risk of rushing into choices without adequate deliberation or consideration of long-term consequences.
- Sharan's pattern recognition skills are useful, but they might not always apply to new, unprecedented business challenges that require innovative thinking.
- Having a multi-faceted knowledge base is helpful, but it's also critical to have deep, specialized knowledge in key areas, which might be diluted if one person is spread too thin across multiple domains.
- A strong personal brand and network are assets, but they should comple ...
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Importance of a Strong Team and Capable People
Alex and Leila Hormozi underscore the importance of assembling a high-caliber, results-driven team capable of independent operation. They believe in the strength of leadership and synergy for ambitious goal achievement.
Alex and Leila Focused On Assembling a High-Caliber, Results-Driven Team
Barrel Approach: Team Members as Self-Sufficient Units for Rapid Scaling Without Alex and Leila Bottlenecks
Alex and Leila focus on creating a team of self-sufficient individuals capable of functioning without creating bottlenecks. They prioritize bringing in people who can be likened to barrels, able to build something from nothing and thus facilitate rapid scaling of the business.
Sharan's Partnership Strengthens Leadership and Synergy
Leila Hormozi and Sharan Srivatsa discuss the effects of their partnership, implying a strategy of building a strong leadership team that works in unison. Sharan’s membership is considered to be of strategic importance, enhancing leadership and synergy within their team. Alex and Leila emphasize the importance of their dynamics with Sharan, noting that they carefully choose team members who complement their vision and work philosophy.
Talent and Experience Empower Alex, Leila, and the Organization to Dream Bigger and Pursue Ambitious Goals
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Importance of a Strong Team and Capable People
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Counterarguments
- While assembling a high-caliber team is important, it's also crucial to ensure that the team is diverse in thought and background to avoid groupthink and foster innovation.
- Independent operation is valuable, but too much independence without proper coordination can lead to misalignment with the company's overall strategy.
- Rapid scaling is beneficial, but it should not come at the cost of quality or sustainability; sometimes slower, more deliberate growth ensures long-term success.
- The concept of team members as "barrels" might overlook the importance of collaboration and interdependence in a team setting.
- Strong leadership and synergy are important, but they must be balanced with flexibility and adaptability to change.
- The emphasis on leadership might overshadow the contributions of non-leader team members, who are also crucial to a team's success.
- While talent and experience are significant, they should be complement ...
Actionables
- You can enhance your team-building skills by playing cooperative board games that require strategic thinking and role allocation. Games like "Pandemic" or "Forbidden Island" demand that players work together, each using their unique abilities to achieve a common goal. This mirrors the process of assembling a high-caliber team where each member's strengths contribute to the overall success.
- Start a peer-mentoring group within your community or workplace to foster leadership and synergy. By pairing up individuals with complementary skills and experiences, members can learn from each other, develop self-sufficiency, and work towards shared ambitions. This initiative can be as simple as monthly meet-ups where each person shares insights from their area of expertise.
- Create a virtual 'think ta ...
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Future Plans for Acquisition.com 3.0
Acquisition.com is gearing up for a new phase of evolution, moving towards an integrative approach of sharing knowledge and creating impactful stakeholder experience with the partnership of Sharan Srivatsa, signifying the launch of Acquisition.com 3.0.
Excited About Acquisition.com’s Next Evolution, Alex, Leila, and Sharan
Alex Hormozi and Leila Hormozi, along with Sharan Srivatsa, express excitement for Acquisition.com’s next stage, Acquisition.com 3.0. They plan to share knowledge indirectly and help directly, embodying a vision where personal dreams align with the company's overarching mission. Alex speaks about paying down ignorance and mastering the skills necessary for scaling, hinting that Sharan's experience and successful track record will be pivotal in this learning process.
Acquisition.com 3.0: Share Knowledge Indirectly, Help Directly
No details are available in the transcript about the specific nature of Acquisition.com 3.0, but it’s clear that Alex's enthusiasm for the future with Sharan hints at an evolution with a focus on sharing knowledge and aiding growth.
Heading: Enhancing Team Impact For Stakeholder Experience
While the future plans for Acquisition.com 3.0 aren’t explicitly laid out in the transcript, the conversation alludes to emphasizing doing things right to maintain their reputation and ensure impactf ...
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Future Plans for Acquisition.com 3.0
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Clarifications
- "Paying down ignorance" is a metaphorical phrase that means actively working to reduce or eliminate ignorance through learning and acquiring knowledge. In this context, it suggests a commitment to education and personal development to overcome gaps in understanding. It implies a proactive effort to address areas of unawareness or lack of expertise. The term emphasizes the importance of continuous learning and self-improvement in the pursuit of growth and success.
- The phrase "maintaining a high standard of execution" typically implies consistently meeting or exceeding established expectations and goals in the performance of tasks or projects within a company. This can involve ensuring that processes are carried out efficiently, accurately, and in alignment with the organization's quality standards. It reflects a commitment to excellence and reliability in delivering outcomes, which is crucial for building trust with stakeholders and achieving long-t ...
Counterarguments
- The integrative approach of sharing knowledge and creating impactful stakeholder experiences is a broad and somewhat vague strategy that may not translate into actionable or measurable outcomes without further detail.
- While the excitement of the leadership team is positive, it does not guarantee the success of Acquisition.com 3.0; execution and market response are critical factors.
- Aligning personal dreams with the company's mission is idealistic and may not always be practical or possible for every team member, potentially leading to unmet expectations.
- The concept of "paying down ignorance" is metaphorical and subjective; what constitutes ignorance and mastery may vary among stakeholders and could require clearer definition.
- Sharing knowledge and aiding growth are commendable goals, but without specifics, it's challenging to assess the potential impact or the novelty of these objectives compared to previous iterations of the company.
- Enhancing team impact on stakeholder experience is a goal that many companies share; it is not unique to Acquisi ...
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